MIRA INFORM REPORT
|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
COOPER CORPORATION PRIVATE LIMITED [w.e.f. 31.05.2008] |
|
|
|
|
Formerly Known
As : |
COOPER FOUNDRY PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
L-3, Additional MIDC, Kodoli, Satara-415004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.01.1982 |
|
|
|
|
Com. Reg. No.: |
11 - 026229 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.11.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101PN1982PTC026229 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC05734B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC9687J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Engine Components. |
|
|
|
|
No. of Employees
: |
800 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4560000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record The ratings reflect company’s healthy performance track record of
business operation marked by sound profitability on the back of backward integration
of operations, diversified presence in several end user industries and a
stable order book position. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Bank lines (Cash Credit) A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
February 2014 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Bank lines (LC/ BG) A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
February 2014 |
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Yogesh |
|
Designation : |
Deputy General manager Finance |
|
Contact No.: |
91-2162-240413 |
|
Date : |
21.05.2014 |
LOCATIONS
|
Registered Office/ Factory : |
L-3, Additional MIDC, Kodoli, Satara-415004, Maharashtra,
India |
|
Tel. No.: |
91-2162-240413 / 244413 / 244273 / 244272 / 240413 / 240272 / 240273 /
240702 / 240703 / 248702 / 248703 |
|
Fax No.: |
91-2162-244271 / 247023 / 240271 / 240023 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory (Since
2006): |
M-60, Additional MIDC, Kodoli, Satara-415004, Maharashtra, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Farrokh Nariman Cooper |
|||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||
|
Address : |
|
|||||||||||||||||||||||||||
|
Date of Appointment : |
28.01.1982 |
|||||||||||||||||||||||||||
|
DIN No.: |
00133576 |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Sam Nariman Cooper |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Hunt Worth, Camp, Satara – 415 001, |
|||||||||||||||||||||||||||
|
Date of Appointment : |
28.01.1982 |
|||||||||||||||||||||||||||
|
DIN No.: |
00133781 |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mrs. Maharookh Farrokh Cooper |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
|
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.06.1947 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
05.07.2008 |
|||||||||||||||||||||||||||
|
DIN No.: |
01899903 |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Zal Sam Cooper |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Hunt Worth, Camp, Satara – 415 001, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.01.1965 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
05.07.2008 |
|||||||||||||||||||||||||||
|
DIN No.: |
01899924 |
|||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Suryaji Gavalax Swami |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Raghuchandra, 500 A/4, Sadar Bazar, Satara – 415 001, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.07.1944 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
05.07.2008 |
|||||||||||||||||||||||||||
|
DIN No.: |
01900503 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Jitendra Babgonda Patil |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Flat 3/A, Rahul Apartment, 83/10, Erandawana, Pune – 411 004, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.05.1937 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
05.07.2008 |
|||||||||||||||||||||||||||
|
DIN No.: |
01920473 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Ramesh Mahadev Jadhav |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
Karmavir Nagar, MIDC, Satara-415004, Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2010 |
|||||||||||||||||||||||||||
|
DIN No.: |
03013791 |
|||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Yogesh |
|
Designation : |
Deputy General manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Farrokh Nariman Cooper |
|
67207 |
|
Sam Nariman Cooper |
|
72793 |
|
Maharookh Farrokh Cooper |
|
461300 |
|
Cooper Metals, India |
|
518000 |
|
Amy V. Tarapore |
|
7 |
|
Manisha Farrokh Copper |
|
623 |
|
Suryaji Gavalax Swami |
|
70 |
|
TOTAL
|
|
1120000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies
corporate |
46.25 |
|
Directors
or relatives of directors |
53.75 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Engine Components. |
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|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
Finished Goods |
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
|
|
|
||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
C.I. Castings |
MTS |
51000* |
40523* |
|
Engines/ Gensets |
Nos. |
6000 |
216 |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s Domestic
International
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
800 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Tel
No.: 91-20-25512732
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Choursiya and Company Chartered Accountants |
|
Address : |
61, Pantacha Got, Opposite Karad Urban Bank, Satara-415001,
Maharashtra, India |
|
PAN No: |
AANPC4240K |
|
|
|
|
Associates : |
Cooper Metals Private Limited [U27101PN1982PTC026228] |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.00 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1120000 |
Equity Shares |
Rs.10/- each |
Rs. 11.200
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 |
11.200 |
11.200 |
11.200 |
|
(b) Reserves & Surplus |
1131.041 |
957.796 |
865.396 |
|
(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) |
1142.241 |
968.996 |
876.596 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
440.213 |
225.340 |
414.923 |
|
(b) Deferred tax liabilities (Net) |
142.778 |
137.228 |
61.27 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
17.293 |
5.773 |
0.000 |
|
Total Non-current Liabilities
(3) |
600.284 |
368.341 |
476.193 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
821.218 |
710.916 |
514.889 |
|
(b) Trade
payables |
466.498 |
456.289 |
499.587 |
|
(c) Other
current liabilities |
338.685 |
345.228 |
412.729 |
|
(d) Short-term
provisions |
51.346 |
47.459 |
65.496 |
|
Total Current
Liabilities (4) |
1677.747 |
1559.892 |
1492.701 |
|
|
|
|
|
|
TOTAL |
3420.272 |
2897.229 |
2845.490 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1327.984 |
1102.097 |
1218.506 |
|
(ii)
Intangible Assets |
340.166 |
380.890 |
403.067 |
|
(iii)
Capital work-in-progress |
152.131 |
79.816 |
20.359 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.374 |
9.495 |
8.995 |
|
(c) Deferred tax assets (net) |
0.000 |
119.065 |
0.000 |
|
(d) Long-term Loan and Advances |
97.921 |
0.000 |
51.064 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1923.576 |
1691.363 |
1701.991 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
532.078 |
320.709 |
246.317 |
|
(c) Trade
receivables |
587.397 |
595.605 |
677.804 |
|
(d) Cash
and cash equivalents |
113.790 |
73.898 |
64.678 |
|
(e)
Short-term loans and advances |
254.456 |
177.995 |
90.29 |
|
(f) Other
current assets |
8.975 |
37.659 |
64.41 |
|
Total
Current Assets |
1496.696 |
1205.866 |
1143.499 |
|
|
|
|
|
|
TOTAL |
3420.272 |
2897.229 |
2845.490 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3169.400 |
2816.200 |
2433.765 |
|
|
|
Other Income |
16.700 |
9.700 |
10.012 |
|
|
|
TOTAL (A) |
3186.100 |
2825.900 |
2443.777 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2567.400 |
2234.300 |
1881.413 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
618.700 |
591.600 |
562.364 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
124.700 |
123.600 |
125.983 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
494.000 |
468.000 |
436.381 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
262.400 |
255.500 |
232.428 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
231.600 |
212.500 |
203.953 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
53.200 |
70.300 |
24.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
178.400 |
142.200 |
179.089 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
159.29 |
127.01 |
159.90 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
3700.000 |
The above information has been parted by Mr. Yogesh (Deputy General
Manager Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.60 |
5.03 |
7.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.31 |
7.55 |
8.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.10 |
7.90 |
7.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.22 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.10 |
0.97 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
0.77 |
0.77 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
11.200 |
11.200 |
11.200 |
|
Reserves & Surplus |
865.396 |
957.796 |
1131.041 |
|
Net
worth |
876.596 |
968.996 |
1142.241 |
|
|
|
|
|
|
long-term borrowings |
414.923 |
225.340 |
440.213 |
|
Short term borrowings |
514.889 |
710.916 |
821.218 |
|
Total
borrowings |
929.812 |
936.256 |
1261.431 |
|
Debt/Equity
ratio |
1.061 |
0.966 |
1.104 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2433.765 |
2816.200 |
3169.400 |
|
|
|
15.714 |
12.542 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2433.765 |
2816.200 |
3169.400 |
|
Profit |
179.089 |
142.200 |
178.400 |
|
|
7.36% |
5.05% |
5.63% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE REVIEW:
The year that passed was another successful year for the company witnessing alround growth on all fronts viz. Sales, EBIDTA, and Profitability etc. The sales during the year crossed the Rs. 3000.000 Millions mark to touch Rs. 3110.000 Millions as against Rs. 2760.000 Millions in the previous financial year, thereby registering a growth of 12.73% over the last year’s sales. The EBIDTA of the company also rose to Rs. 618.800 Millions from Rs. 591.600 Millions in the previous year. The decent growth in sales and margins reflected in the Net Profit after tax of the company at Rs. 178.400 Millions against Rs. 142.200 Millions in the previous year.
The Board would like to take this opportunity to mention that the consistent excellent financial performance reported by the company is a result of niche market enjoyed by the company, strong execution skills coupled with control on costs observed by the company year after years. All these factors, coupled by strong emphasis by the management on cost optimization has resulted in savings in expenses on almost all counts. The consistent investment in technology, improvement in yield of castings, thrust on indegenisation and state of the art in-house R & D facility is paying rich dividend to the company.
Additionally, the company has been following very conservative policy on borrowing with any fresh borrowing undertaken on a stringent scrutiny of all parameters of the investment. As a result of this, the companys Debt Equity Ratio has improved significantly over a period of last four years. Also, the company has been able to maintain its interest outgo they’ll under control.
FUTURE BUSINESS
OUTLOOK:
On the background of another successful year of consistent growth of the company, it would be essential to share with you the business outlook for coming year as well. On this front also, I am very happy to mention that the company’s business in the coming year is growing in full swing despite challenging economic situation, both in India and overseas. Thanks to The company’s diversified portfolio and strong execution skills, the company is getting additional business both from new as well as old customers. The sales for five months ended August, 2013 as against the same period in last year is as under:
|
Particulars |
Sales for five
months ended August, 2013 (Rs. Millions) |
Sales for five
months ended August, 2012 (Rs. Millions) |
|
Sales |
1530.000 |
1410.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10445955 |
14/08/2013 |
917,800,000.00 |
Corporation Bank |
Corporate Banking
Branch,, 14, Wakdewadi, Mumbai |
B83515726 |
|
2 |
10351055 |
25/07/2012 * |
82,800,000.00 |
TJSB SAHAKARI BANK LTD. |
PLOT NO 13, NAD-
16, KARANJE, RADHIKA ROAD, NEAR |
B72020266 |
|
3 |
10279629 |
09/03/2011 |
25,000,000.00 |
Corporation Bank |
Industrial Finance
Branch, 14, Pune Mumbai Road,, |
B10029296 |
|
4 |
10233865 |
31/07/2010 |
802,000.00 |
Corporation bank |
Industrial Finance
Branch,14, Wakdewadi,, Mumbai |
A91895524 |
|
5 |
10210243 |
18/03/2010 |
600,000.00 |
CORPORATION BANK |
14, PUNE MUMBAI ROAD, WAKDEWADI, PUNE, Maharashtra - 411003, INDIA |
A82550914 |
|
6 |
10187780 |
04/12/2009 |
250,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE
BRANCH, 14, PUNE MUMBAI ROAD, |
A74204637 |
|
7 |
10187741 |
19/11/2009 |
771,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH,
14, PUNE MUMBAI ROAD, |
A74158486 |
|
8 |
10191890 |
05/11/2009 |
150,000,000.00 |
The Catholic Syrian Bank Ltd |
VIJAY MELLENIUM,UGF 3&4, VISAWA NAKA, SATARA, Maharashtra - 415001, INDIA |
A75546192 |
|
9 |
10169149 |
29/06/2009 |
50,000,000.00 |
IDBI BANK LTD. |
CFC BUILDING, OLD
M.I.D.C., SATARA, Maharashtra |
A66635897 |
|
10 |
80051982 |
07/11/2005 |
35,363,000.00 |
UTI BANK LIMITED |
1262/B, J M ROAD, DECCAN GYMKHANA, PUNE, Maharashtra - 411004, INDIA |
- |
* Date of charge modification
UNSECURED LOAN ( Rs. In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liability |
36.398 |
36.722 |
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits |
9.016 |
7.921 |
|
Total |
45.414 |
44.643 |
|
|
|
|
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computers
·
Wind Mill
·
Mould, Jigs and Dies
·
Laboratory and Fire-Fighting Equipments
·
Electric Installation Plant
·
Office Equipment
·
Air Conditioner
·
Furniture and Fixtures
·
Motor Vehicle
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.59.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SBN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.