MIRA INFORM REPORT
|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CATERPILLAR INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7th Floor International Tech Park, Taramani Road, Taramani
Chennai – 600113, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.12.2000 |
|
|
|
|
Com. Reg. No.: |
18-046255 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1,772.164 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29244TN2000FTC046255 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC02709A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC4615K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Earthmoving Equipment, Construction and Other
Industrial Equipment and also provides Engineering Design Services, Marketing
Support and Business Support to Other Caterpillar Group Companies |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (79) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 71000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Caterpillar Group”. It is a well-established and reputed company having fine track record. Financial position of the company is sound. Fundamentals are strong
and healthy. Trade relations are reported to be fair. Business is active. Payments
terms are reported to be regular and as per commitment. In view of strong group, the company can be considered good for normal
business dealings at usual trade terms and condition. |
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 |
FITCH |
|
Rating |
Long Term Issuer Rating “AAA” |
|
Rating Explanation |
Have the highest degree of safety and carry lowest credit risk |
|
Date |
March, 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 DENIED BY
|
Name : |
Ms. Lakshmi |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-42631001 |
|
Date : |
30.04.2014 |
LOCATIONS
|
Registered Office : |
7th Floor International Tech Park, Taramani Road, Taramani
Chennai – 600113, Tamil Nadu, India |
|
Tel. No.: |
91-80-41724172 |
|
Mobile No.: |
91-988096271 (Ms. Lakshmi) |
|
Fax No.: |
91-80-40857800 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
BCP Unit, Melnallathur, Thiruvallur - 602004, Tamil Nadu, India Located at ·
Sriperumbudur ·
Hosur ·
Pondicherry |
DIRECTORS
As on: 13.12.2013
|
Name : |
Mr. Ajay Shankar |
|
Designation : |
Whole time Director |
|
Address : |
|
|
Date of Birth/Age : |
26.08.1948 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
00387684 |
|
|
|
|
Name : |
Mr. Rengarajan Sundararajan |
|
Designation : |
Whole time Director |
|
Address : |
Flat 401, Building No. 10, Shanthi Park Apartments, Jayanagar 9th
Block, Bangalore – 560 069, Karnataka. |
|
Date of Birth/Age : |
11.04.1965 |
|
Date of Appointment : |
12.12.2007 |
|
DIN No.: |
00548101 |
|
|
|
|
Name : |
Mr. Ramarathnam Varadadesikan |
|
Designation : |
Director |
|
Address : |
Flat No.6, Srinivas New No.28,Kesav Perulal West Ward Mylapore,
Chennai – 600004, Tamil Nadu, India |
|
Date of Birth/Age : |
18.03.1974 |
|
Date of Appointment : |
19.09.2013 |
|
DIN No.: |
01956494 |
|
|
|
|
Name : |
Mr. Ganesh Ramamurthy Iyer |
|
Designation : |
Whole Time Director |
|
Address : |
2, |
|
Date of Birth/Age : |
01.06.1968 |
|
Date of Appointment : |
01.10.2008 |
|
DIN No.: |
02388483 |
|
|
|
|
Name : |
Mr. Vanmeeganathan Vivek Anand |
|
Designation : |
Director |
|
Address : |
4A, 13th Cross, Barathi Nagar Extension, Puthur PO, Trichy –
620017, Tamil Nadu, India |
|
Date of Birth/Age : |
25.06.1976 |
|
Date of Appointment : |
15.06.2011 |
|
DIN No.: |
03561588 |
|
|
|
|
Name : |
Mr. Ramesh Muthuraman |
|
Designation : |
Director |
|
Address : |
Villa No.99, Himagiri Meadows, Near Gottigere Bannerghatta Road,
Bangalore – 560083, Karnataka, India |
|
Date of Birth/Age : |
01.01.1971 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
05316127 |
|
|
|
|
Name : |
Mr. Ramanthapuram Sethuraman Chidambaram |
|
Designation : |
Director |
|
Address : |
D 803, Ittina Akkala Apartments, White Field Road, Hoodi Circle,
Mahadevpura, Bangalore – 560048, Karnataka, India |
|
Date of Birth/Age : |
23.09.1978 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No.: |
06583388 |
KEY EXECUTIVES
|
Name : |
Mr. Rama Krishna P |
|
Designation : |
Secretary |
|
Address : |
No. 17, Hermba Nilaya, 1st Main 1st Cross, Chamundeswari
Layout, DB Sandra Vidyaranyapura, Bangalore – 560092, Karnataka, India |
|
Date of Birth/Age : |
19.01.1972 |
|
Date of Appointment : |
04.11.2013 |
|
PAN No.: |
AJHPK7407R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 13.12.2013
|
Names of Shareholders |
|
No. of Shares |
|
Caterpillar
Commercial S.A., |
|
169216359 |
|
Caterpillar
Commercial |
|
75 |
|
Caterpillar
Incorporation, USA |
|
7199928 |
|
F G |
|
800000 |
|
|
|
|
|
Total |
|
177216362 |
Equity Share Break up (Percentage of Total Equity)
As on: 13.12.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Earthmoving Equipment, Construction and Other Industrial
Equipment and also provides Engineering Design Services, Marketing Support
and Business Support to Other Caterpillar Group Companies |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
32, |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Ultimate Holding Company : |
Caterpillar Incorporation USA, United States |
|
|
|
|
Fellow Subsidiaries : |
· Caterpillar SARL, Singapore · F.G. Wilson Engineering Limited, United Kingdom · Caterpillar Asia Pte Limited, Malaysia · Caterpillar Logistics Incorporation, United States · EMD Locomotive Technologies Private Limited, India CIN No.: U35201DL1996PTC083567 · Caterpillar Global Mining LLC, Unite States · Perkins India Private Limited CIN No.: U29253TN2011PTC084853 · Caterpillar Group Services S.A., Belgium · Caterpillar China Investments Company Limited · Bucyrus India Private Limited CIN No.: U29294KA1999PTC025182 ·
Caterpillar Japan Limited, Japan ·
Solar Turbines India Private Limited, India CIN No.: U45207MH2001PTC132156 · SPL Software Alliance LLC, Unite States |
CAPITAL STRUCTURE
As on: 13.12.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199000000 |
Equity Shares |
Rs.10/- each |
Rs.1,990.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
177216362 |
Equity Shares |
Rs.10/- each |
Rs.1,772.164
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 |
1,772.160 |
1,772.160 |
1,772.000 |
|
(b) Reserves & Surplus |
15,889.840 |
9,137.840 |
4,820.000 |
|
(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) |
17,662.000 |
10,910.000 |
6,592.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
9,033.000 |
6,620.000 |
2,844.000 |
|
(b) Deferred tax liabilities
(Net) |
377.000 |
248.000 |
182.000 |
|
(c)
Other long term liabilities |
142.000 |
235.000 |
99.000 |
|
(d)
long-term provisions |
368.000 |
295.000 |
236.000 |
|
Total
Non-current Liabilities (3) |
9,920.000 |
7,398.000 |
3,361.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
200.000 |
200.000 |
|
(b)
Trade payables |
6,903.000 |
10,669.000 |
8,130.000 |
|
(c)
Other current liabilities |
1,386.000 |
1,882.000 |
1,825.000 |
|
(d)
Short-term provisions |
661.000 |
432.000 |
311.000 |
|
Total
Current Liabilities (4) |
8,950.000 |
13,183.000 |
10,466.000 |
|
|
|
|
|
|
TOTAL |
36,532.000 |
31,491.000 |
20,419.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
10,201.000 |
6,505.000 |
3,869.000 |
|
(ii)
Intangible Assets |
103.000 |
82.000 |
76.000 |
|
(iii)
Capital work-in-progress |
563.000 |
1,036.000 |
673.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1,362.000 |
741.000 |
453.000 |
|
(e)
Other Non-current assets |
20.000 |
16.000 |
18.000 |
|
Total
Non-Current Assets |
12,249.000 |
8,380.000 |
5,089.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
12,229.000 |
11,173.000 |
8,175.000 |
|
(c)
Trade receivables |
4,240.000 |
7,203.000 |
4,306.000 |
|
(d)
Cash and cash equivalents |
227.000 |
1,108.000 |
852.000 |
|
(e)
Short-term loans and advances |
7,587.000 |
3,627.000 |
1,997.000 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
24,283.000 |
23,111.000 |
15,330.000 |
|
|
|
|
|
|
TOTAL |
36,532.000 |
31,491.000 |
20,419.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
55,696.000 |
43,425.000 |
27,758.000 |
|
|
|
Other Income |
392.000 |
258.000 |
688.000 |
|
|
|
TOTAL |
56,088.000 |
43,683.000 |
28,446.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
|
|
|
|
|
|
Employees benefits expense |
|
|
|
|
|
|
Other expenses |
|
|
|
|
|
|
|
TOTAL |
46,101.000 |
37,321.000 |
24,303.000 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9,987.000 |
6,362.000 |
4,143.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3,235.000 |
2,043.000 |
1,229.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6,752.000 |
4,319.000 |
2,914.000 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8,719.000 |
4,401.000 |
1,561.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
15,471.000 |
8,720.000 |
4,401.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
43,794.000 |
30,692.000 |
16,127.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.10 |
24.37 |
16.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
12.04 |
9.89 |
10.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.93 |
14.65 |
14.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.77 |
20.89 |
20.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57 |
0.58 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.51 |
0.63 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.71 |
1.75 |
1.46 |
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 |
1,772.000 |
1,772.160 |
1,772.160 |
|
Reserves & Surplus |
4,820.000 |
9,137.840 |
15,889.840 |
|
Net worth |
6,592.000 |
10,910.000 |
17,662.000 |
|
|
|
|
|
|
long-term borrowings |
2,844.000 |
6,620.000 |
9,033.000 |
|
Short term borrowings |
200.000 |
200.000 |
0.000 |
|
Total borrowings |
3,044.000 |
6,820.000 |
9,033.000 |
|
Debt/Equity ratio |
0.462 |
0.625 |
0.511 |
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 |
27,758.000 |
43,425.000 |
55,696.000 |
|
|
|
56.441 |
28.258 |
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 |
27,758.000 |
43,425.000 |
55,696.000 |
|
Profit |
2,914.000 |
4,319.000 |
6,752.000 |
|
|
10.50% |
9.95% |
12.12% |
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 |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from 6 B, GST Road, Street Thomas Mount, Chennai
– 600 016, Tamil Nadu, India, to the present address w.e.f. 30.06.2008
UNSECURED LOANS
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Term loan from others |
9,033.000 |
6,620.000 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
200.000 |
|
|
|
|
|
Total |
9,033.000 |
6,820.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90307550 |
07/07/1995 |
20,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCY ROAD, BANGALORE - 560025, Karnataka, INDIA |
- |
|
2 |
90307266 |
06/01/1996 * |
90,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCY ROAD, BANGAL |
- |
* Date of charge modification
INTEGRATED
MANUFACTURING OPERATING DIVISION (IMOD)
The mining industry slowdown, started in the last quarter of the year, continued to stay flat. Two new truck models (one in 40 tonnages & the other in 50 tonnages) launched last year became a regular production. The company became a single global source for 988H model. The company launched a new product 320D Excavators for Indian market. The company also enhanced its capability on building Lower Power Trains for
Large wheel Loaders and Under Ground Mining.
LARGE POWER SYSTEMS
DIVISION (LPSD)
Continuous efforts have been made to deliver superior performance of P, Q, V, and C metrics during this tough economic situation. The Company has been approved to be the global source for 3406C engine due to low cost of production and location of maximum number of customers in LRC region. This facility continues to provide support services for other BUs like EPD and ACSD to run their operations successfully.
The company has commissioned a new machining line for cylinder blocks and manifolds. Also, one of engine test cell has been upgraded to a world-class level and increased test capacity. Further, parts shipment delivery performance was 100% month over month, throughout the year.
The company was approved with NPI for 3406C engines for global market and there is a laser focus on commissioning this line to commence production with effect from October 2014. Also, significant efforts have been made on cost control.
ENGINEERING DESIGN
CENTRE (EDC)
The Engineering Design Center grew by about 25% in its foreign exchange earnings compared to the previous year. This division continues to play a major role in Caterpillars global research and development in the areas of mechanical system design, virtual validation and manufacturing engineering services with more focus on regional product development. The fixed cost structure is well controlled through continuous leverage of engineering services suppliers by about 45%.
BUILDING CONSTRUCTION
PRODUCT (BCP)
During the year, BCP Division shifted operations to the new site adjacent to the IMOD facility.
The manufacturing operations of the Small Wheel Loader continued to be carried out at a Contract Manufacturing facility M/s. Creative Manufacturing Solutions India Private Limited at Banda in Maharashtra successfully.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Office building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Motor vehicles
· Office equipment
· Other equipments
Intangible Assets
· Computer software
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 judgment 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.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
79 |
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.