MIRA
INFORM REPORT
|
Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RSB TRANSMISSIONS (INDIA) LIMITED
(w.e.f. 04.08.1979) |
|
|
|
|
Formerly Known
As : |
NEETACHAL AUTO LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 908,
Sanaswadi, Taluka Shirur, |
|
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|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.01.1989 |
|
|
|
|
Com. Reg. No.: |
11-014807 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.208.672
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34102PN1989PLC014807 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RCHR00276D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR3925R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing
metal components for heavy commercial vehicle. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. There seems share dip in the turnover and profitability of the company
during financial year 2013 however general financial position of the company
is satisfactory. The rating also take into consideration the experience promoters, long
track record of the company and established market position. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to influence
each other in ways that could be very complex and far-reaching. The prospects
of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB- (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
December 06, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 (Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit
risk. |
|
Date |
December 06, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non-Cooperative
Contact No.: 91-2137-669300
LOCATIONS
|
Registered Office / Factory 1 : |
Gat No. 908,
Sanaswadi, Taluka Shirur, Pune Nagar Road, Pune – 412208, Maharashtra, India |
|
Tel. No.: |
91-2137-669300 |
|
Fax No.: |
91-2137-669200 |
|
E-Mail : |
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|
Website: |
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|
Corporate Office: |
Pune Trade Center, Ubale Nagar, Nagar Road, Wagholi, Pune – 412207, Maharashtra, India |
|
Tel. No.: |
91-20-30642100 |
|
Fax No.: |
91-20-30642101 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
NS 25, Phase VI,
Industrial Area, Gamharia District, Saraikella Kharswan, Jamshedpur – 832108,
Jharkhand, India |
|
Tel. No.: |
91-657-2200441 /
22200663 |
|
Fax No.: |
91-657-2200751 |
|
|
|
|
Branch Office : |
Located At ·
Dharwad ·
Orissa ·
Uttarkhand ·
Chennai ·
Lucknow |
|
|
|
|
Overseas Office : |
Located At ·
·
Guanajauto · United States |
DIRECTORS
AS ON: 10.09.2013
|
Name : |
Mr. Rabindra Kumar Behera |
|
Designation : |
Managing Director |
|
Address : |
Bungalow No. 132, Clover Hills, NIBM Road, Kondhwa, Pune – 411048,
Maharashtra, India |
|
Date of Birth/Age : |
04.03.1951 |
|
Qualification : |
Batchelor of Engineering (Mechanical) |
|
Date of Appointment : |
06.12.2013 |
|
PAN No.: |
ABEPB8762D |
|
DIN No.: |
00011614 |
|
|
|
|
Name : |
Mr. Suvendra Kumar Behera |
|
Designation : |
Managing Director |
|
Address : |
22, Road No. – 12, c. h. Area (n.w.), Sonari, Jamshedpur, India |
|
Date of Birth/Age : |
19.10.1957 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
25.06.2013 |
|
PAN No.: |
ABEPB8763C |
|
DIN No.: |
00422271 |
|
|
|
|
Name : |
Mr. Sailendra Kumar Behera |
|
Designation : |
Managing Director |
|
Address : |
Bunglow No. 48, Clover Hills, Nimb Road, Kondwa, Pune – 411048, Maharashtra,
India |
|
Date of Birth/Age : |
07.10.1963 |
|
Qualification : |
Batchelor of Engineering (Mechanical) |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
ACVPB5320P |
|
DIN No.: |
00096056 |
|
|
|
|
Name : |
Mr. Dwijadas Sanyal |
|
Designation : |
Director |
|
Address : |
Flat No. 4, Marigold Building, 26 Anand Park, Lane No. 5, Aundh, Pune
– 411007, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1939 |
|
Date of Appointment : |
25.03.1997 |
|
DIN No.: |
00015664 |
|
|
|
|
Name : |
Mr. Sunil Vasantrao
Diwakar |
|
Designation : |
Director |
|
Address : |
C- 002, Shreeji Ville, opp. Nitin co., Almeda Road, Panchpakhadi,
Thane – 400602, Maharashtra, India |
|
Date of Birth/Age : |
22.05.1963 |
|
Qualification : |
B. Tech (Hons) (Mechanical Engineering) and CWA |
|
Date of Appointment : |
26.09.2007 |
|
DIN No.: |
00089266 |
|
|
|
|
Name : |
Mr. Bina Dinesh Trivedi |
|
Designation : |
Alternate director |
|
Address : |
11, Shilpak Artek Apartments, 4TH Road, Bandra (E), MUMBAI, 400051,
Maharashtra, India |
|
Date of Birth/Age : |
13.09.1966 |
|
Qualification : |
B.Com and Chartered Accountant |
|
Date of Appointment : |
09.09.2007 |
|
DIN No.: |
01476999 |
|
|
|
|
Name : |
Mr. Rasamoy Dayamoy Chakraborty |
|
Designation : |
Director |
|
Address : |
New Ajantha Avenue, Building NO. II, Wing B, Flat NO. 05, Paud Road,
Pune – 411029, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1944 |
|
Qualification : |
B. Tech (Hons) (Mechanical Engineering) and CWA |
|
Date of Appointment : |
06.12.2004 |
|
DIN No.: |
00011581 |
|
|
|
|
Name : |
Mr. Jaysinh Sakharam Konkar |
|
Designation : |
Director |
|
Address : |
302, Vinspa Apartment, 06 Boat Club Road, Pune , Maharashtra, India |
|
Date of Birth/Age : |
24.01.1943 |
|
Qualification : |
B. Tech (Hons) (Mechanical Engineering) and CWA |
|
Date of Appointment : |
25.08.2008 |
|
DIN No.: |
00011924 |
|
|
|
|
Name : |
Mr. Prasanna Rangacharya Mysore |
|
Designation : |
Director |
|
Address : |
B- 202, Zen Garden, No 6 Artillery, Road, Ulsoor, Bangalore -560008,
Karnataka, India |
|
Date of Birth/Age : |
07.04.1947 |
|
Date of Appointment : |
11.07.2011 |
|
DIN No.: |
00010264 |
|
|
|
|
Name : |
Mr. Rajnikant Ravindrakumar Behera |
|
Designation : |
Director |
|
Address : |
Bungalow No. 132, Clover Hills, NIBM Road, Kondhwa, Pune – 411048,
Maharashtra, India |
|
Date of Birth/Age : |
25.11.1977 |
|
Date of Appointment : |
01.05.2011 |
|
PAN No.: |
AFKPB5021P |
|
DIN No.: |
00317205 |
|
|
|
|
Name : |
Mr. Nishant Behera |
|
Designation : |
Director |
|
Address : |
Bungalow No. 132, Clover Hills, NIBM Road, Kondhwa, Pune – 411048,
Maharashtra, India |
|
Date of Birth/Age : |
25.11.1977 |
|
Date of Appointment : |
01.05.2011 |
|
DIN No.: |
00317489 |
|
|
|
|
Name : |
Mr. Sarthak Nrusingha Behuria |
|
Designation : |
Director |
|
Address : |
K-99, Hauz Khas, New Delhi – 110016, India |
|
Date of Birth/Age : |
02.03.1952 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
03290288 |
|
|
|
|
Name : |
Mr. Ajit Mukundrao Nimbalkar |
|
Designation : |
Director |
|
Address : |
'Jay Villa', 275, Pallod Farm 2, Street 1, Behind BP Petrol Pump, Baner
Road, Pune – 411045, Maharashtra, India |
|
Date of Birth/Age : |
14.02.1944 |
|
Date of Appointment : |
10.09.2013 |
|
DIN No.: |
02749940 |
KEY EXECUTIVES
|
Name : |
Mr. Sandip Shankar Shinde |
|
Designation : |
Secretary |
|
Address : |
`Pushpamala’, 686/A, Near Garware Flyover, Deccan Gymkhana, Pune - 411 004, Maharashtra, India |
|
Date of Birth/Age : |
06.11.1978 |
|
Date of Appointment : |
19.01.2013 |
|
PAN No.: |
BDRPS0804B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 10.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Rabindra Kumar
Behera |
|
1506464 |
|
Suvendra Kumar
Behera |
|
1410517 |
|
Sailendra Kumar Behera |
|
602821 |
|
Papia Behera |
|
34821 |
|
Urmila Behera |
|
902761 |
|
Nalini Behera |
|
45294 |
|
Padmabati Behera |
|
31264 |
|
Gyabebdra Kumar Behera |
|
35693 |
|
Nrendra Kumar Behera |
|
20153 |
|
Bhramarbar Behera |
|
20153 |
|
Soumendra Behera |
|
15602 |
|
RSB Metaltech Private limited, |
|
896281 |
|
Sangita Behera |
|
854854 |
|
NIshant Behera |
|
81195 |
|
Rajnikant Behera |
|
60319 |
|
Niramla Udgata |
|
27206 |
|
Ratikant Behera |
|
12736 |
|
Rituraj Behera |
|
12736 |
|
Sarthak Behera |
|
8668 |
|
RSB Industries Limited, |
|
8666454 |
|
RSB Global Private limited, |
|
189531 |
|
Subhashree Behera |
|
180385 |
|
Jharna Behera |
|
36961 |
|
Satya Swarup |
|
26000 |
|
Nishit Behera |
|
17926 |
|
Jayanti Behera |
|
56409 |
|
Tara India Fund III Trusts, |
|
263 |
|
EIF Coinvest VII, |
|
1993 |
|
Tara India Holdings A Limited, |
|
1383 |
|
Tara India Fund III Domestic
Trusts, |
|
347 |
|
|
|
|
|
Total |
|
15757190 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Tara India Fund III Trusts, |
|
376029 |
|
EIF Coinvest VII, |
|
2261628 |
|
Tara India Holdings A Limited, |
|
1976585 |
|
Tara India Fund III Domestic
Trusts, |
|
495760 |
|
|
|
|
|
Total |
|
5110002 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 10.09.2013
|
Category |
Percentage |
|
Venture Capital |
0.02 |
|
Bodies corporate |
61.89 |
|
Directors or relatives of Directors |
38.09 |
|
|
|
|
Total |
100.00 |
%20LIMITED%20%20-%20279106_MIRA%2028-Jul-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
metal components for heavy commercial vehicle. |
||||||
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Product : |
|
GENERAL INFORMATION
|
Customers : |
·
Tata ·
Mahindra ·
FIAT ·
FORMTECH ·
VOLVO |
|||||||||||||||||||||||||||
|
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
800 (Approximately) |
|||||||||||||||||||||||||||
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|
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|
Bankers : |
·
HDFC
Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai -
400013, Maharashtra, India ·
Bank of India, 8A, Dr. Coyaji Road, Pune
Compound, Pune - 411001, Maharashtra, India ·
IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe
Parade, Mumbai - 400005, Maharashtra, India ·
State Bank of India, Commercial Branch, 1st
Floor, Pratap Tower, J Road, Bistupur, Jamshedpur – 831001, Jharkhand, India |
|||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
L and T Finance
Limited, L and T House, Ballard Estate, Mumbai-400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Associates Chartered Accountants |
|
Address : |
802 Lloyds Chambers, |
|
PAN No.: |
AAAFS1034J |
|
|
|
|
Holding company : |
· RSB Industries Limited |
|
|
|
|
Subsidiary company
: |
·
I Design
Engineering Solution Limited CIN No. : U29999PN1998PLC012660 ·
RSB North America LLC ·
RSB Europ B.V ·
RSB Castings
Limited CIN No. : U27100OR2011PLC013085 ·
R S B Transmissions De Mexico, S. DE R.L. DE C.V. |
|
|
|
|
Associates : |
· I -Vitesse Tehnologies Private Limited · RSB Transmission Belgium N.V. |
CAPITAL STRUCTURE
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000000 |
Equity Shares |
Rs.10/- each |
Rs.240.000 Millions |
|
6000000 |
Preference Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.300.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15757190 |
Equity Shares |
Rs.10/- each |
Rs.157.571
Millions |
|
5110002 |
Preference Shares |
Rs.10/- each |
Rs.51.100
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.208.672 Millions |
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
208.672 |
208.672 |
208.672 |
|
(b) Reserves & Surplus |
2504.726 |
2373.717 |
1938.234 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2713.398 |
2582.389 |
2146.906 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1531.465 |
1237.722 |
1370.664 |
|
(b) Deferred tax liabilities (Net) |
337.248 |
312.895 |
288.195 |
|
(c) Other long term liabilities |
83.353 |
80.030 |
12.110 |
|
(d) long-term provisions |
35.855 |
22.645 |
25.476 |
|
Total Non-current Liabilities (3) |
1987.921 |
1653.292 |
1696.445 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
579.373 |
717.854 |
959.804 |
|
(b) Trade payables |
778.647 |
1084.635 |
902.302 |
|
(c) Other current
liabilities |
905.483 |
809.993 |
657.057 |
|
(d) Short-term provisions |
5.428 |
45.187 |
70.016 |
|
Total Current Liabilities (4) |
2268.931 |
2657.669 |
2589.179 |
|
|
|
|
|
|
TOTAL |
6970.250 |
6893.349 |
6432.530 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4020.024 |
3993.310 |
3867.756 |
|
(ii) Intangible Assets |
46.655 |
52.778 |
66.062 |
|
(iii) Capital
work-in-progress |
76.593 |
188.926 |
80.088 |
|
(iv)
Intangible assets under development |
10.845 |
1.300 |
0.000 |
|
(b) Non-current Investments |
448.469 |
414.591 |
383.849 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
71.523 |
83.266 |
65.336 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4674.109 |
4734.171 |
4463.091 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
978.852 |
1084.054 |
947.870 |
|
(c) Trade receivables |
664.924 |
616.256 |
596.735 |
|
(d) Cash and cash equivalents |
282.876 |
121.004 |
83.234 |
|
(e) Short-term loans and
advances |
341.970 |
321.846 |
333.294 |
|
(f) Other current assets |
27.519 |
16.018 |
8.306 |
|
Total Current Assets |
2296.141 |
2159.178 |
1969.439 |
|
|
|
|
|
|
TOTAL |
6970.250 |
6893.349 |
6432.530 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
8207.235 |
10270.718 |
8368.396 |
|
|
|
Other Income |
30.065 |
51.365 |
21.267 |
|
|
|
TOTAL (A) |
8237.300 |
10322.083 |
8389.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4882.589 |
6334.193 |
5162.834 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
39.706 |
(56.744) |
(76.506) |
|
|
|
Employee benefit expense |
751.832 |
715.380 |
604.100 |
|
|
|
Other expenses |
1626.982 |
1876.134 |
1534.367 |
|
|
|
TOTAL (B) |
7301.109 |
8868.963 |
7224.795 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
936.191 |
1453.120 |
1164.868 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
366.411 |
398.542 |
352.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
569.780 |
1054.578 |
812.650 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
372.363 |
378.200 |
317.109 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
197.417 |
676.378 |
495.541 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
66.348 |
230.294 |
136.857 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
131.069 |
446.084 |
358.684 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1281.344 |
835.319 |
500.887 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
NA |
0.059 |
24.252 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1281.344 |
835.319 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
267.900 |
253.819 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
8.32 |
28.31 |
22.39 |
|
|
|
Diluted |
6.28 |
21.38 |
17.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.59
|
4.32
|
4.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.41
|
6.58
|
5.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.07
|
10.76
|
8.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.26
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78
|
0.76
|
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
0.81
|
0.76 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
208.672 |
208.672 |
208.672 |
|
Reserves & Surplus |
1938.234 |
2373.717 |
2504.726 |
|
Net
worth |
2,146.906 |
2,582.389 |
2,713.398 |
|
|
|
|
|
|
long-term borrowings |
1,370.664 |
1,237.722 |
1,531.465 |
|
Short term borrowings |
959.804 |
717.854 |
579.373 |
|
Total
borrowings |
2,330.468 |
1,955.576 |
2,110.838 |
|
Debt/Equity
ratio |
1.086 |
0.757 |
0.778 |
%20LIMITED%20%20-%20279106_MIRA%2028-Jul-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Revenue from operations |
8,368.396 |
10,270.718 |
8,207.235 |
|
|
|
22.732 |
(20.091) |
%20LIMITED%20%20-%20279106_MIRA%2028-Jul-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Revenue from operations |
8,368.396 |
10,270.718 |
8,207.235 |
|
Profit After Tax |
358.684 |
446.084 |
131.069 |
|
|
4.29% |
4.34% |
1.60% |
%20LIMITED%20%20-%20279106_MIRA%2028-Jul-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
656.277 |
528.589 |
571.867 |
|
|
|
|
|
|
Total |
656.277 |
528.589 |
571.867 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
--- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
--- |
|
26] |
Buyer visit details |
--- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED
LOAN
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs. In
Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred Sales Tax Loan |
46.208 |
59.241 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee Term Loan From Bank |
0.000 |
37.273 |
|
|
|
|
|
Total |
46.208 |
96.514 |
COMPANY PERFORMANCE:
The turnover of
the Auto Vertical of the Company was Rs. 5971.000 Millions, for the Financial Year
2012 - 2013 as against the turnover of Rs.7379.000 Millions, for the Financial
Year 2011 - 2012. The EBITDA was 11.70% for the Financial Year 2012 - 2013 as
against the EBITDA of 16.26% for the Financial Year 2011 - 2012 and Profit
Before Tax was 3.89% for the Financial Year 2012 - 2013 as against Profit
Before Tax of 8.98% for the Financial Year 2011 - 2012. The turnover of the CMI
Vertical of the Company was Rs. 2338.000 Millions, for the Financial Year 2012
- 2013 as against the turnover of Rs.2943.000 Millions, for the Financial Year
2011 - 2012. The EBITDA was 9.55% for the Financial Year 2012 - 2013 as against
the EBITDA of 8.33% for the Financial Year 2011 - 2012 and Profit Before Tax
was 0.04% for the Financial Year 2012 - 2013 as against Profit Before Tax of
1.25% for the Financial Year 2011 - 2012.
RSB TRANSMISSIONS (INDIA) STRATEGY AND OUTLOOK:
In the context of
a volatile global economy, the Auto sector demand continues to be less as end
customers adopt conservative approach to discretionary spending. The Company’s
overall strategy remains focused on leveraging its manufacturing base to
address both the domestic market and international markets. India is an
attractive central hub for OEM global exports and a world class manufacturing
base. Continuous investments within India from major OEMs will significantly
enhance mid to long term prospects of the domestic auto industry.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10444200 |
27/06/2013 |
90,000,000.00 |
AXIS BANK
LIMITED |
JAMSHEDPUR
BRANCH, VOLTAS HOUSE, MAIN ROAD, BISTUPUR, JAMSHEDPUR, JHARKHAND - 831001,
INDIA |
B82663857 |
|
2 |
10431667 |
30/12/2013 * |
110,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B93952273 |
|
3 |
10432376 |
14/05/2013 |
19,000,000.00 |
SIEMENS
FINANCIAL SERVICES PRIVATE LIMITED |
130, PANDURANG BUDHKAR
MARG, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA |
B77635449 |
|
4 |
10419635 |
21/03/2013 |
127,500,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR.
V. B. GANDHI MARG, FORT, MUMBAI, |
B73164022 |
|
5 |
10401414 |
09/01/2013 |
105,000,000.00 |
ING VYSYA BANK
LIMITED |
928, MANTRI
CENTRE,, F.C. ROAD, PUNE, MAHARASHTRA - 411004, INDIA |
B67415471 |
|
6 |
10392558 |
27/06/2013 * |
150,000,000.00 |
L & T
FINANCE LIMITED |
L&T HOUSE,, BALLARD
ESTATE,, MUMBAI, MAHARASHTRA |
B80266067 |
|
7 |
10389808 |
02/11/2012 |
1,466,972.00 |
L & T
FINANCE LIMITED |
L&T HOUSE,
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
B63268007 |
|
8 |
10362874 |
16/06/2012 |
19,558,589.00 |
L & T
FINANCE LIMITED |
L&T HOUSE,
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
B42563593 |
|
9 |
10366614 |
30/05/2012 |
150,000,000.00 |
IDBI BANK
LIMITED |
SHANTINIKETAN
BUILDING, SAKCHI BOULEVARD ROAD, BI |
B44209773 |
|
10 |
10349486 |
30/03/2012 |
3,412,734.00 |
L & T
FINANCE LIMITED |
L&T HOUSE,
N. M. MARG, BALLARD ESTATE, MUMBAI, |
B37513744 |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
WEBSITE DETAILS
AWARD / NEWS /
ARTICLE
Auto division of RSB
Transmissions gets JUSE award
14 November 2013,
JAMSHEDPUR:
The Auto division of RSB Transmissions (India) Limited, the flagship company of
over Rs 1,2000.000 Millions RSB group, was conferred with the Deming Prize by
the Union of Japanese Scientists and Engineers (JUSE) at Tokyo on Wednesday.
The
Deming Prize is an annual award given by JUSE to organisations that
successfully implement TQM practices and is one of the most coveted and
prestigious awards in the world in the field of management practices. RSB Group
Chairman R K Behra received the coveted Deming Prize from Masahiro Sakane,
Vice-Chairman of Deming Prize Committee, JUSE, at a function in Keidnanren
Hall, a RSB press release here today said. Accepting the award, Behra said that
TQM implementation has resulted in significant improvements in all performance
indicators.
"TQM
is thoroughly institutionalised at RSB and embedded into the gene of every
employee," Behra said.
RSB
group is a global engineering institution, with a turnover of Rs 1,2000.000
Millions plus, in automotive components and systems and construction equipment
aggregates operating in several countries.
Presently,
it has 13 manufacturing plants spread over seven locations in India
(Jamshedpur, Pune, Dharwad, Chennai, Pantnagar, Cuttack, Lucknow and one each
in Homer (USA), Tessenderlo (Belgium) and Silao (Mexico).
RSB acquires 70% stake in
Belgian engineering firm
BS Reporter | Kolkata/ Bhubaneswar
June 25, 2010
RSB Transmission engaged in manufacturing of
automotive, construction and farm equipment, has acquired, through its
Netherland based arm RSB Europe BV, 70 per cent stake in the Belgium based
construction equipment aggregate manufacturer MSI (Mechanical Supplies
International) for an undisclosed sum.
RSB
currently has 10 manufacturing plants spread over 7 locations in India and the
USA
While
the turnover of MSI stood at 21 million Euro in the pre-recession period, its
new owners now hope to take the turnover to 28 million Euro by 2012 without any
additional investment.
The
Belgian company, situated in the city of Tessenderlo, manufactures heavy
fabrication aggregates for excavators, off-highway machines and windmills which
are similar to the products of RSB manufactured in its Jamshedpur, Dharwad and
Chennai plants.
A
company release said, the acquisition of majority stake in MSI will provide
immense synergy benefits to RSB and MSI as both companies have identical
technology, process and machines. The Caterpillar Belgium and Caterpillar
France are the major customers of MSI, just as Caterpillar India is one of the
prime customers of RSB.
Through
this acquisition, RSB, which exports substantial heavy fabrications to Europe,
can now have a front-end presence in Europe to consolidate and grow its
exports. The heavy fabrications which were otherwise logistically impossible to
ferry from India to Europe can now be offered by RSB – MSI combine, said the
release. RSB-MSI association will also leverage each other’s capabilities and
add new customers to their respective businesses both in the European and India
geography.
This
will be beneficial for both to expand their top line and improve their bottom
line.
It
may be recalled that in November 2006, RSB Transmissions had acquired the
Michigan based Miller Brothers Manufacturing – since rechristened RSB NA – a
specialty auto transmission component manufacturing company.
The
Group has successfully managed this acquisition and hence even during the last
two years of deep recession RSB NA has been both PBT and PAT positive.
In
the closely held RSB Transmission, IL&FS Investment Managers Limited (IIML)
and Evolvence Limited are minority PE investors.
RSB
Transmissions had a turnover of Rs 7500.000 Millions in FY10 and is aiming to
hit Rs 10000.000 Millions in FY 11. The company is planning to go for an IPO
sometime in the last quarter of 2010 to fund its ambitious growth plans.
RSB Transmissions auto unit wins Deming
Prize
RSB IS THE ONLY INDIAN COMPANY TO WIN THIS AWARD IN 2013
November 28, 2013
The Auto Division of the Pune-based RSB Transmissions has bagged the
Deming Prize given by the Union of Japanese Scientists and Engineers (JUCE).
R. K. Behera, chairman, RSB Group, received the award in Tokyo on November 13.
It is an annual award given to organizations that successfully implement TQM
(Total Quality Management) practices.
RSB is the only Indian company to win this award in 2013.
The Rs 1,2000.000 Millions RSB Group has businesses in automotive components
and systems and construction equipment.
It has 13 manufacturing plants across seven locations in India, and one each in
USA, Belgium and Mexico.
RSB Transmissions to enter foundry biz
with new unit
Pune, January
9:
Pune-based maker
of components and aggregates for the auto, construction and mining sectors RSB
Transmissions is foraying into the foundry business with RSB Castings, a new
subsidiary, and is setting up a production facility in Odisha for the purpose.
This is part of a plan
to invest approximately an additional Rs. 2000.000 Millions in its businesses
in India and overseas till the end of FY14.
Being set up with
an investment of Rs. 800.000 Millions, the greenfield foundry at Cuttack, will
have an installed capacity of 25,000 tonnes a year and go on stream in the
middle of this year, said Rabindra Behera, Chairman and Managing Director, RSB
Transmissions.
While initially it
will cater to the commercial vehicle segment, the company has plans to supply
to the passenger car subsequently, he added.
“On the domestic
front, we want to go from the components business to aggregates and systems,”
Behera said. RSB, which earns 90 per cent of its revenue in the auto vertical
from the commercial vehicle segment, now plans to enhance the focus on
passenger cars.
RSB is also
expanding operations of its existing facilities in the US and Mexico, and will
have invested Rs. 800.000 Millions more there by March 2014.
The funds for all
its expansion will come through a combination of debt (including foreign
currency debt) and internal accruals.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.