MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUTTATTI ENTERPRISES LIMITED (w.e.f. 21.05.2007) |
|
|
|
|
Formerly Known
As : |
SUTTATTI ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
43, Hadapsar Industrial Estate, Pune–411013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.03.1995 |
|
|
|
|
Com. Reg. No.: |
11-086130 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.105.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN1995PLC086130 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Sheet Metal Products. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2670000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a Flagship Company of the “Suttatti Group”. It is a well-established company having a satisfactory track record. There are dip in the profitability of the company during 2013.
However, financially company seems to be strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered 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 – December 1, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the public
to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000
denominations, pushing the deadline to January 1, 2015. A day before dates for
the Lok Sabha polls were announced, the government decided to hike interest
rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The
new rates will be effective April, 1. The Supreme Court will resume hearing on
March, 11 Nokia’s appeal against a ruling over transferring ownership of its
local mobile phones plant which is the subject of a tax dispute to Microsoft
Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB (Long Term Fund Based Limits) |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
October 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A2 (Short Term, Non fund based limits) |
|
Rating Explanation |
Have strong degree of safety and carry low credit risk. |
|
Date |
October 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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vijay Suttatti |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9890007938 |
|
Date : |
04.03.2014 |
LOCATIONS
|
Registered Office / Factory: |
43, Hadapsar Industrial Estate, Pune–411013, Maharashtra, India |
|
Tel. No.: |
91-20-66023939 / 29870274 / 26814215 |
|
Mobile No.: |
91-9890007938 (Mr. Vijay Channabasav Suttatti) |
|
Fax No.: |
91-20-26874062 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
70, Hadapsar, Industrial Estate, Pune–411013, Maharashtra, India |
|
|
|
|
Factory 3 : |
109/4, Ram Tekdi Industrial Estate, Pune–411013, Maharashtra, India |
|
|
|
|
Factory 4 : |
70/2, Mauje Nandur, Taluka Daund, Pune-411013, Maharashtra, India |
|
|
|
|
Branch Office : |
Located at
|
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Channabasav Gurappa Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
E-1, Konark Estate Opposite Poona Club, Pune – 411001, Maharashtra,
India |
|
Date of Birth/Age : |
30.12.1933 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
06.09.1996 |
|
PAN No.: |
ACHPS9948Q |
|
DIN No.: |
00636156 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN1995PLC086130 |
SUTTATTI
ENTERPRISES LIMITED |
Whole-time
director |
30/03/2010 |
06/09/1996 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
SUMAX
ENTERPRISES PRIVATE LIMITED |
Director |
28/09/2005 |
28/09/2005 |
Active |
NO |
|
Name : |
Mr. Vijay Channabasav Suttatti |
|
Designation : |
Managing director |
|
Address : |
E-1, Konark Estate Opposite Poona Club, Pune – 411001, Maharashtra,
India |
|
Date of Birth/Age : |
14.05.1972 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
07.03.1995 |
|
PAN No.: |
ACMPS4486Q |
|
DIN No.: |
00636143 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN1995PLC086130 |
SUTTATTI
ENTERPRISES LIMITED |
Managing
director |
30/03/2010 |
07/03/1995 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
SUMAX
ENTERPRISES PRIVATE LIMITED |
Director |
27/04/2005 |
27/04/2005 |
Active |
NO |
|
Name : |
Mr. Rajesh Channabasav Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
E-1, Konark Estate Opposite Poona Club, Pune – 411001, Maharashtra,
India |
|
Date of Birth/Age : |
20.01.1962 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
07.03.1995 |
|
PAN No.: |
ACMPS4485P |
|
DIN No.: |
00636022 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN1995PLC086130 |
SUTTATTI
ENTERPRISES LIMITED |
Whole-time
director |
30/03/2010 |
07/03/1995 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
SUMAX
ENTERPRISES PRIVATE LIMITED |
Managing
director |
27/04/2005 |
27/04/2005 |
Active |
NO |
|
Name : |
Mr. Deepak Pandit Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
Y-404, Sacred Heart Township, Wanowrie, Pune – 411040, Maharashtra,
India |
|
Date of Birth/Age : |
17.10.1973 |
|
Qualification : |
D.M.E. |
|
Date of Appointment : |
09.06.1996 |
|
PAN No.: |
ACHPS9953P |
|
DIN No.: |
01422347 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN1995PLC086130 |
SUTTATTI
ENTERPRISES LIMITED |
Whole-time
director |
30/03/2010 |
09/06/1996 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
SUMAX
ENTERPRISES PRIVATE LIMITED |
Director |
27/04/2005 |
27/04/2005 |
Active |
NO |
|
Name : |
Mr. Mahesh Pandit Suttatti |
|
Designation : |
Whole-time director |
|
Address : |
Y-404, Sacred Heart Township, Wanowrie, Pune – 411040, Maharashtra,
India |
|
Date of Birth/Age : |
19.03.1978 |
|
Qualification : |
D.P.E. |
|
Date of Appointment : |
06.09.1996 |
|
PAN No.: |
ACHPS9949R |
|
DIN No.: |
01497000 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN1995PLC086130 |
SUTTATTI
ENTERPRISES LIMITED |
Whole-time
director |
30/03/2010 |
06/09/1996 |
Active |
NO |
|
2 |
U29299PN2005PTC020631 |
SUMAX
ENTERPRISES PRIVATE LIMITED |
Director |
27/04/2005 |
27/04/2005 |
Active |
NO |
|
Name : |
Mr. Annapurna Channabasav Suttatti |
|
Designation : |
Director |
|
Address : |
E-1, Konark Estate Opposite Poona Club, Pune – 411001, Maharashtra,
India |
|
Date of Birth/Age : |
08.05.1943 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.02.2006 |
|
DIN No.: |
00635820 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Rajesh C. Suttatti |
11250 |
|
Vijay C. Suttatti |
52500 |
|
Channabasav G. Suttatti |
11256 |
|
Deepak P. Suttatti |
37032 |
|
Mahesh P. Suttatti |
37032 |
|
Rajesh C. Suttatti Jointly with Vimala R. Suttatti |
120000 |
|
Vijay C. Suttatti Jointly with Roopa V. Suttatti |
78750 |
|
Channabasav G. Suttatti Jointly with Annapurna C. Suttatti |
70780 |
|
Deepak P. Suttatti Jointly with Kalavati P. Suttatti |
45000 |
|
Mahesh P. Suttatti Jointly with Kalavati P. Suttatti |
45000 |
|
Annapurna C. Suttatti Jointly with Channabasav G. Suttatti |
32812 |
|
Pushpa J. Boramani Jointly with Jagannath M. Boramani |
26662 |
|
Roopa V. Suttatti Jointly with Vijay C. Suttatti |
32812 |
|
Aditya Rajesh Suttatti Jointly with Rajesh C. Suttatti |
32812 |
|
Shruti Rajesh Suttatti Jointly with Rajesh C. Suttatti |
16411 |
|
Akshya J. Boramani Jointly with Pushpa J. Boramani |
16413 |
|
Prinyanka J. Boramanai Jointly with Pushpa J. Boramani |
16413 |
|
Vimala R. Suttatti Jointly with Rajesh C. Suttatti |
16413 |
|
Rajni D. Suttatti Jointly with Deepak P. Suttatti |
16411 |
|
Pushpa J. Boramani Jointly with Akshya J. Bormani |
22500 |
|
Vedagnya Sanjay Bondada Jointly with Geeta Sanjay Bondada |
16411 |
|
Geeta Sanjay Bondada Jointly with Annapurna C. Suttatti |
51900 |
AS ON 28.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Sheet Metal Products. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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|
Selling : |
Credit (30 Days / 60 Days / 90 Days) |
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|
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|
Purchasing : |
Credit (30 Days / 60 Days / 90 Days) |
GENERAL INFORMATION
|
Customers : |
Others (Manufacturers) |
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|
No. of Employees : |
350 (Approximately) |
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Bankers : |
|
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|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sagdeo Ajay Laxmikant Chartered Accountant |
|
Address : |
Kothrud, Pune, Maharashtra, India |
|
PAN No.: |
AAPFS2223N |
|
|
|
|
Related Parties : |
CIN
No.:- U29299PN2005PTC020631 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.100/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1050000 |
Equity Shares |
Rs.100/-
each |
Rs. 105.000
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 |
105.000 |
105.000 |
105.000 |
|
(b) Reserves & Surplus |
562.711 |
468.694 |
335.803 |
|
(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) |
667.711 |
573.694 |
440.803 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
221.110 |
220.818 |
27.660 |
|
(b) Deferred tax liabilities
(Net) |
59.553 |
59.553 |
56.941 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
280.663 |
280.371 |
84.601 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
16.796 |
11.444 |
104.756 |
|
(b) Trade payables |
45.174 |
42.540 |
42.960 |
|
(c) Other current liabilities |
2.640 |
3.329 |
1.973 |
|
(d) Short-term provisions |
48.434 |
41.162 |
9.101 |
|
Total
Current Liabilities (4) |
113.044 |
98.475 |
158.790 |
|
|
|
|
|
|
TOTAL |
1061.418 |
952.540 |
684.194 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
554.525 |
513.744 |
314.400 |
|
(ii) Intangible Assets |
1.083 |
0.711 |
0.000 |
|
(iii) Capital work-in-progress |
21.465 |
68.112 |
51.142 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.047 |
1.047 |
1.047 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
8.528 |
|
(d) Long-term Loan and
Advances |
18.627 |
17.103 |
10.189 |
|
(e) Other Non-current assets |
0.000 |
4.657 |
0.000 |
|
Total
Non-Current Assets |
596.747 |
605.374 |
385.306 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
16.188 |
1.000 |
69.767 |
|
(b) Inventories |
146.658 |
94.477 |
62.521 |
|
(c) Trade receivables |
202.317 |
152.391 |
139.019 |
|
(d) Cash and cash equivalents |
7.869 |
12.117 |
7.724 |
|
(e) Short-term loans and
advances |
0.000 |
1.161 |
2.033 |
|
(f) Other current assets |
91.639 |
86.020 |
17.824 |
|
Total
Current Assets |
464.671 |
347.166 |
298.888 |
|
|
|
|
|
|
TOTAL |
1061.418 |
952.540 |
684.194 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
707.595 |
620.454 |
484.925 |
|
|
Other Income |
5.416 |
7.778 |
3.885 |
|
|
TOTAL
(A) |
713.011 |
628.232 |
488.810 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
354.710 |
335.545 |
224.874 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
2.499 |
(48.148) |
0.648 |
|
|
Employees benefits expense |
36.805 |
27.190 |
24.859 |
|
|
Other expenses |
91.576 |
79.759 |
63.268 |
|
|
Exceptional Items |
0.000 |
(1.743) |
0.000 |
|
|
TOTAL
(B) |
485.590 |
392.603 |
313.649 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
227.421 |
235.629 |
175.161 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.433 |
9.931 |
15.398 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
205.988 |
225.698 |
159.763 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
73.287 |
44.767 |
49.979 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
132.701 |
180.931 |
109.784 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
38.685 |
48.040 |
11.787 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
94.016 |
132.891 |
97.997 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
237.959 |
212.426 |
122.214 |
|
|
TOTAL
EARNINGS |
237.959 |
212.426 |
122.214 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Stores parts |
4.186 |
2.624 |
3.531 |
|
|
Capital Goods |
4.856 |
168.995 |
5.362 |
|
|
TOTAL
IMPORTS |
9.042 |
171.619 |
8.893 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
89.54 |
126.56 |
93.33 |
Expected Sales (2013-2014) : Rs. 800.000 Millions
The above information has been parted by Mr. Vijay Suttatti.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
PAT / Total Income |
(%) |
13.19 |
21.15 |
20.05 |
|
|
|
|
|
|
|
|
|
Net Profit Margin |
(%) |
18.75 |
29.16 |
22.64 |
|
|
|
|
|
|
|
|
|
Return on Total Assets |
(%) |
12.77 |
20.48 |
17.61 |
|
|
|
|
|
|
|
|
|
Return on Investment (ROI) |
|
0.20 |
0.32 |
0.25 |
|
|
|
|
|
|
|
|
|
Debt Equity Ratio |
|
0.36 |
0.40 |
0.30 |
|
|
|
|
|
|
|
|
|
Current Ratio |
|
4.11 |
3.53 |
1.88 |
|
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 |
105.000 |
105.000 |
105.000 |
|
Reserves & Surplus |
335.803 |
468.694 |
562.711 |
|
Net
worth |
440.803 |
573.694 |
667.711 |
|
|
|
|
|
|
long-term borrowings |
27.660 |
220.818 |
221.110 |
|
Short term borrowings |
104.756 |
11.444 |
16.796 |
|
Total
borrowings |
132.416 |
232.262 |
237.906 |
|
Debt/Equity
ratio |
0.300 |
0.405 |
0.356 |
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) |
|
Sales |
484.925 |
620.454 |
707.595 |
|
|
|
27.948 |
14.045 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
484.925 |
620.454 |
707.595 |
|
Profit |
97.997 |
132.891 |
94.016 |
|
|
20.21% |
21.42% |
13.29% |
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 |
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 |
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 |
Yes |
|
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 |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
6.670 |
8.394 |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand |
(0.302) |
9.126 |
|
|
|
|
|
TOTAL |
6.368 |
17.520 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
90088758 |
16/04/2013 * |
540,300,000.00 |
State Bank of India Industrial Finance
Branch |
2ND FLOOR, TARA CHAMBERS, NEAR MAARIAAI
POLICECHOWKY, OLD PUNE MUMBAI HIGHWAY, WAKDEWADI, PUNE, MAHARASHTRA - 411003,
INDIA |
B76638923 |
|
2 |
90085917 |
11/03/2002 * |
18,895,000.00 |
INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY
LTD |
CORE-4A; EAST COURT; 1ST FLOOR, INDIA
HABITAT CEN |
- |
|
* Date of charge modification |
||||||
REVIEW OF BUSINESS FOR 2012-13
Sheet Metal Business
Inspite of the
global and domestic recession the Company could do a satisfactory business
during the year. It’s mainly because the constant development of new products
and continuous quality supply with competitive costs.
EOU Business
EOU business i.e. export
to US market has shown growth over the previous year. This has also happened
due to development of new range of parts for the prime customer as well as the
associate concerns.
Grating Plant
Grating business has
picked up however due to political atmosphere and slow down on infrastructure
projects by Government put a break on the growth. The Company has completed
necessary procedures for credibility certification with government approved
agencies. The current development is that the global players especially US and
EUROPE market have sent many enquiries about the Company to Dun and Bradstreet,
a global business rating agency.
Sales for the
current year 31.03.2013 is 686.644 Millions as compared to 588.553 Millions in
the previous year showing an increase of 16.67%. Profit before taxes for the
current year 31.03.2013 is 132.701 Millions as compared to 179.188 Millions in
previous year showing a fall of 25.94%. Profit after Taxes for the current year
31.03.2013 was 94.017 Millions as compared to 132.891 Millions showing a fall
of 29.25%. The fall in profits is attributed to rise in cost of raw materials
and increased interest burden. The Company is basically into supply of
automobile parts to automobile industries and has taken a hit due to
recessionary trend in automobile industry
FIXED ASSETS
- Computers
- Electrical
Installations
- Factory
Equipments
- Forklift
- Factory land
- Factory
Building
- Furniture and
Fixtures
- Office
Equipments
- Plant and
Machinery
- Waste Water
Treatment Plant
- Vehicles
- Transport
Vehicles
- Windmills
- Air
Compressors
- Motor
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. 60.09 |
|
|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 82.57 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
|
53 |
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.