MIRA
INFORM REPORT
|
Report Date : |
20.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
RACOLD THERMO LIMITED (w.e.f.10.06.2011) |
|
|
|
|
Formerly Known
As : |
ARISTON THERMO INDIA LIMITED (w.e.f.19.02.2009) MERLONI THERMOSANITARI SSP LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 265/ 374/ 376, Kharabwadi, Chakan-Talegaon Road, Taluka Khed, Chakan, Pune – 410501, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
11.11.2004 |
|
|
|
|
Com. Reg. No.: |
11-019938 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 262.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909PN2004PLC019938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEM09177A/ PNEM00797G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM0766G/ AABCM8423H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Water Heating Equipments and
Solutions including Storage Water Heaters, Geysers, Solar Water Heater etc. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3865000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a subsidiary of “Ariston Thermo
International SRL, Italy”. It is an established company having satisfactory track record. Management of the company has not filed its latest financials i.e.
December 2013 with the government department. As per available financial of December 2012, there seems some dip in
the profit of the company. However, general financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. 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
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.
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. Parag Pathak |
|
Designation : |
Deputy Manager |
|
Contact No.: |
91-2135-674700 |
|
Date : |
19.05.2014 |
LOCATIONS
|
Registered/ Corporate Office/ Factory : |
Gat No. 265/ 374/ 376, Kharabwadi, Chakan-Talegaon Road, Taluka Khed, Chakan, Pune – 410501, Maharashtra,
India |
|
Tel. No.: |
91-2135-674700 |
|
Fax No.: |
91-2135-674850/ 674851 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Regional Offices : |
Located at: · New Delhi Kolkata Mumbai Bangalore Chennai Pune Chandigarh Hyderabad |
DIRECTORS
AS ON 17.04.2013
|
Name : |
Mathew Job |
|
Designation : |
Managing director |
|
Address : |
E-102, Emerald Court II, Essel Tower, M G
Road, Gurgaon – 122001 Haryana,
India |
|
Date of Birth/Age : |
03.05.1969 |
|
Qualification : |
B. Tech ( Mech), PGDM (IIM, Kolkata) |
|
Date of Appointment : |
03.02.2012 |
|
PAN No.: |
ACRPJ1908P |
|
DIN No.: |
02922413 |
|
|
|
|
Name : |
Euro Trapani |
|
Designation : |
Director |
|
Address : |
Milano (MI) V. Savon Narola 4 Italy |
|
Date of Birth/Age : |
11.03.1958 |
|
Date of Appointment : |
13.11.2009 |
|
DIN No.: |
02806641 |
|
|
|
|
Name : |
Carlo Andreatini |
|
Designation : |
Director |
|
Address : |
Patente N. AN2056620G (K3RLBS) Lungomare Alighieri 28 Senigallia
An 60019 |
|
Date of Birth/Age : |
25.03.1965 |
|
Qualification : |
Degree in Economics and Commerce. |
|
Date of Appointment : |
09.04.2012 |
|
DIN No.: |
02660570 |
|
|
|
|
Name : |
Paolo Cancellieri |
|
Designation : |
Director |
|
Address : |
Via Della Montagnola 97, Ancona
60127 |
|
Date of Birth/Age : |
08.01.1969 |
|
Date of Appointment : |
17.04.2013 |
|
DIN No.: |
05236130 |
KEY EXECUTIVES
|
Name : |
Mr. Parag Pathak |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.04.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ariston Thermo SPA, Italy |
|
5900954 |
|
Ariston Thermo International SRL, Italy |
|
20312508 |
|
Elco International GmbH |
|
1 |
|
Andreatini Carlo |
|
1 |
|
Ariston Thermo UK |
|
3 |
|
Silvestro Luciani |
|
2 |
|
Sen Chandra Tejesh |
|
3 |
|
Mathew Job |
|
3 |
|
|
|
|
|
Total |
|
26213475 |
AS ON 17.04.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
99.99 |
|
Directors
or relatives of directors |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Water Heating Equipments and Solutions
including Storage Water Heaters, Geysers, Solar Water Heater etc. |
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Products/ Services : |
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Exports : |
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||||
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Products : |
Finished Goods |
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Countries : |
v Russia v Italy |
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Imports : |
|
||||
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Products : |
Raw Material |
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Countries : |
v China |
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||||
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Terms : |
|
||||
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Selling : |
L/C and Credit |
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|
||||
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.12.2011)
|
Particulars |
Unit |
Installed
Capacity (per annum) |
Actual
Production |
|
Water heaters |
Nos. |
420,000 |
272,161 |
|
Instantaneous geysers |
Nos. |
120,000 |
44,988 |
|
Solar Water Heaters |
Nos. |
10,000 |
25,487 |
1. The Products manufactured by the Company are not Subject to License.
2. As certified by the management and relied upon by auditors.
3. Figures in brackets represent previous year figures
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
v State Bank of India Chakan, Pune,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor
Suite O8, Off Airport Road, Yerwada, Pune – 411006, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFP3698A |
|
|
|
|
Ultimate Holding company : |
Ariston Thermo SpA |
|
|
|
|
Holding Company : |
Ariston Thermo International Srl,
Italy |
|
|
|
|
Fellow Subsidiary company : |
· Chaffoteaux S.A.S Ariston Thermo
Russia LLC Professional Team Limited Ariston Thermo
Deutschland GMBH Thermowatt Wuxi Electric Company Limited Ariston Thermo China
Company Limited Thermowatt SpA Ariston Thermo CZ Ariston Thermo UK
Limited C.M.C.M. Cite Mabrouka-Morocco |
CAPITAL STRUCTURE
AS ON 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26,213,475 |
Equity Shares |
Rs. 10/- each |
Rs. 262.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
262.100 |
262.100 |
|
(b) Reserves & Surplus |
|
704.200 |
621.200 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
966.300 |
883.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
6.700 |
5.900 |
|
(d) long-term
provisions |
|
48.400 |
47.900 |
|
Total Non-current
Liabilities (3) |
|
55.100 |
53.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
45.000 |
0.000 |
|
(b)
Trade payables |
|
434.800 |
333.300 |
|
(c) Other
current liabilities |
|
58.100 |
36.900 |
|
(d) Short-term
provisions |
|
24.300 |
22.300 |
|
Total Current
Liabilities (4) |
|
562.200 |
392.500 |
|
|
|
|
|
|
TOTAL |
|
1583.600 |
1329.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
335.900 |
258.203 |
|
(ii)
Intangible Assets |
|
1.900 |
1.697 |
|
(iii)
Capital work-in-progress |
|
20.800 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
9.900 |
16.600 |
|
(d) Long-term Loan and Advances |
|
148.700 |
190.500 |
|
(e) Other
Non-current assets |
|
0.000 |
4.000 |
|
Total Non-Current
Assets |
|
517.200 |
471.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
372.600 |
266.800 |
|
(c)
Trade receivables |
|
523.100 |
309.800 |
|
(d) Cash
and cash equivalents |
|
133.200 |
250.800 |
|
(e)
Short-term loans and advances |
|
37.500 |
30.000 |
|
(f)
Other current assets |
|
0.000 |
1.200 |
|
Total
Current Assets |
|
1066.400 |
858.600 |
|
|
|
|
|
|
TOTAL |
|
1583.600 |
1329.600 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
59.010 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
63.077 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
122.087 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.087 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
14.116 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
30.212 |
|
|
Sundry Debtors |
|
|
32.119 |
|
|
Cash & Bank Balances |
|
|
13.718 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
73.528 |
|
Total
Current Assets |
|
|
149.577 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
24.849 |
|
|
Other Current Liabilities |
|
|
0.524 |
|
|
Provisions |
|
|
16.233 |
|
Total
Current Liabilities |
|
|
41.606 |
|
|
Net Current Assets |
|
|
107.971 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
122.087 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2458.900 |
1936.000 |
172.419 |
|
|
|
Other Income |
5.400 |
27.900 |
0.298 |
|
|
|
TOTAL (A) |
2464.300 |
1963.900 |
172.717 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1227.100 |
1014.900 |
|
|
|
|
Purchases of stock-in-trade |
279.600 |
125.300 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(71.000) |
(53.500) |
|
|
|
|
Employee benefit expense |
234.600 |
196.000 |
|
|
|
|
Other expenses |
526.100 |
401.200 |
|
|
|
|
TOTAL (B) |
2196.400 |
1683.900 |
204.359 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
267.900 |
280.000 |
(31.642) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.000 |
3.000 |
0.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
259.900 |
277.000 |
(32.350) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.700 |
47.100 |
14.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
212.200 |
229.900 |
(47.082) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
69.900 |
66.200 |
(0.035) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
142.300 |
163.700 |
(47.047) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
102.038 |
179.194 |
169.051 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
364.800 |
224.400 |
25.065 |
|
|
|
Stores & Spares |
0.900 |
1.000 |
0.000 |
|
|
|
Capital Goods |
47.500 |
1.100 |
0.000 |
|
|
TOTAL IMPORTS |
413.200 |
226.500 |
25.065 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
5.43 |
6.24 |
(7.97) |
|
|
Particulars |
|
|
31.12.2013 |
|
Sales Turnover (Approximately) |
|
|
3030.000 |
|
|
|
|
|
The above information has been parted by Mr. Parag
Pathak (Deputy Manager)
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
5.77
|
8.34 |
(27.24) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.63
|
11.88 |
(27.31) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.66
|
17.51 |
(28.76) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.26 |
(0.39) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.05
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
2.19 |
3.60 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
262.100 |
262.100 |
|
Reserves & Surplus |
621.200 |
704.200 |
|
Net
worth |
883.300 |
966.300 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
45.000 |
|
Total
borrowings |
0.000 |
45.000 |
|
Debt/Equity
ratio |
0.000 |
0.047 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
172.419 |
1936.000 |
2458.900 |
|
|
|
1,022.846 |
27.009 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
172.419 |
1936.000 |
2458.900 |
|
Profit/ (Loss) |
(47.047) |
163.700 |
142.300 |
|
|
(27.29%) |
8.46% |
5.79% |
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 |
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 |
Yes |
|
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 |
No |
|
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 |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 28.04.2014 |
|
Stamp No: WPST/11920/2014 Filing
Date: 28.04.2014 |
|
Petitioner: JOSHI APPLIANCES AND ORS Respondent: RACOLD
THERMO LIMITED Petn. Adv : AMEY DESHPANDE (2011) District: NASHIK |
|
Bench: SINGLE Status: Pre-Admission
Last Date: 05.05.2014
Stage: Last Coram: REGISTRAR (JUDICIAL) |
|
Act: C.P.C.- (Interlocutory Order) |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90091242 |
13/04/2000 |
43,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PIMPRI, PUNE - 411034, MAHARASHTRA, INDIA |
- |
|
2 |
90084444 |
11/04/1996 |
2,500,000.00 |
BANK OF MAHARASHTRA |
PIMPRI, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
3 |
90087962 |
11/04/1996 |
3,000,000.00 |
BANK OF MAHARASHTRA |
PIMPRI, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
4 |
90084293 |
10/03/1997 * |
1,500,000.00 |
BANK OF MAHARASHTRA |
PIMPRI, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
5 |
90084181 |
10/02/1996 * |
500,000.00 |
CANARA BANK |
PARLIAMENT STREET, NEW DELHI - 110001, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.12.2012 (Rs. In Millions) |
31.12.2011 (Rs. In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
45.000 |
0.000 |
|
|
|
|
|
Total |
45.000 |
0.000 |
GENERAL INFORMATION
Subject is engaged in the business of manufacture and trading
of water heating equipments and solutions (including storage water heaters,
geysers, solar water heater etc.). The Company was incorporated on November 11,
2004 and has its place of business in Chakan.
FUTURE OUTLOOK
During the period, the Company recorded increase of 27%
total sales.
FIXED ASSETS:
· Land
Buildings
Office
building
Factory
building
Other
building
Plant
and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
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 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. 58.43 |
|
|
1 |
Rs. 98.28 |
|
Euro |
1 |
Rs. 80.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.