MIRA
INFORM REPORT
|
Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
PMP AUTO COMPONENTS PRIVATE LIMITED (w.e.f. 13.11.2009) |
|
|
|
|
Formerly Known
As : |
PMP COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
Peninsula Spenta, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.05.1996 |
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Com. Reg. No.: |
11-099236 |
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Capital
Investment / Paid-up Capital : |
Rs.58.665 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1996PTC099236 |
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|
|
PAN No.: [Permanent Account No.] |
AAACP7200N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Marketing of Auto Electrical Components for Original
Equipment Manufacturers (OEMs). |
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No. of Employees
: |
Information declined by management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track. Overall financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are usually correct. The company can be considered for business dealings at usula 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans: BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk |
|
Date |
February, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund based limits: A2+ |
|
Rating Explanation |
Have strong degree of safety and carry 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 DECLINED
MANAGEMENT NON CO-OPERATIVE
Contact No.:91-22-24912189/ 66154651
LOCATIONS
|
Registered Office : |
Peninsula Spenta, Mathuradas Mills Compound, Senapati Bapat Marg,
Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66154651 |
|
Fax No.: |
91-22-66154593 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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|
Head Office : |
3rd Floor, Bhagat House, Plot No.5A, Shyam Nagar, Off JVLR,
Jogeshwari (East), Mumbai-400060, Maharashtra, India |
|
Tel. No.: |
91-22-28381670 |
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Fax No.: |
91-22-28394419 |
|
Email : |
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Factory 1 : |
903-904, G.I.D.C. Industrial Estate, Ankleshwar - 393002, Gujarat,
India |
|
Tel. No.: |
91-2646-221519/ 252368 / 239707 |
|
Fax No.: |
91-2646-251326 |
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Factory 2 : |
Satara, Pune, Maharashtra, India |
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Factory 3 : |
Rubrapur, Uttrakhand, India |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Ms. Urvi Ashok Piramal |
|
Designation : |
Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
19.07.1952 |
|
Date of Appointment : |
30.12.1996 |
|
DIN No.: |
00044954 |
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|
|
|
Name : |
Mr. Harshvardhan Ashok Piramal |
|
Designation : |
Managing Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
27.10.1973 |
|
Date of Appointment : |
18.07.2006 |
|
DIN No.: |
00044972 |
|
|
|
|
Name : |
Mr. Rajeev Ashok Piramal |
|
Designation : |
Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
12.05.1976 |
|
Date of Appointment : |
12.08.2002 |
|
DIN No.: |
00044983 |
|
|
|
|
Name : |
Mr. Nandan Ashok Piramal |
|
Designation : |
Whole – Time- Director |
|
Address : |
61 A Piramal House, |
|
Date of Birth/Age : |
01.04.1981 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
00045003 |
|
|
|
|
Name : |
Mr. Satya Narayan Somani |
|
Designation : |
Director |
|
Address : |
1002 Orchid, Vasant Valley Complex, Film City Road, Malad East, Mumbai
– 400097, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1954 |
|
Date of Appointment : |
01.2.2003 |
|
DIN No.: |
00061893 |
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|
|
|
Name : |
Mr. Amarnath Pashpatinath Agaewal |
|
Designation : |
Whole – Time – Director |
|
Address : |
20/403, Sanskruti CHSL, Opposite Lawrence School, Thakur, Kandivali,
Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1949 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02421633 |
|
|
|
|
Name : |
Mrs. Ambika Suneet Kothari |
|
Designation : |
Director |
|
Address : |
57, Sea View Worli Sea Face, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1977 |
|
Date of Appointment : |
17.05.2011 |
|
DIN No.: |
01162900 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Equity Shareholder |
No. of Shares |
|
Ashok Piramal Group
Engineering Trust, India Acting
Through its Trustee Urvi A Piramal |
4826134 |
|
Urvi A Piramal
Jointly with Ashok Piramal Group Engineering Trust, India |
1 |
|
Blossom
Mercantile Private Limited, India |
165000 |
|
|
|
|
Total |
4991135 |
|
Names of Preference Shareholders (1% Non-Cumulative Redeemable Preference Shares) |
No. of Shares |
|
Urvi A. Piramal |
25439 |
|
Harshvardhan A.
Piramal |
4483 |
|
Rajeev A.
Piramal |
4653 |
|
Nandan A.
Piramal |
4612 |
|
Urvi A. Piramal jointly
with Harshvardhan A. Piramal |
17500 |
|
Harshvardhan A.
Piramal jointly with Urvi A. Piramal |
15000 |
|
Urvi A. Piramal
jointly with Rajeev A. Piramal |
17500 |
|
Rajeev A.
Piramal jointly with Urvi A. Piramal |
15000 |
|
Urvi A. Piramal jointly
with Nandan A. Piramal |
17490 |
|
Nandan A.
Piramal jointly with Urvi A. Piramal |
15010 |
|
Peninsula Land
Limited, India |
190 |
|
Aarti Management
Consultancy Private Limited, India |
166 |
|
Aditi Management
Consultancy Private Limited, India |
167 |
|
Anjoss Trading Private Limited, India |
167 |
|
|
|
|
Total |
137377 |
|
Names of Preference Shareholders (10% Cumulative Redeemable
Preference Shares) |
No. of Shares |
|
Urvi A. Piramal |
737999 |
|
Harshvardhan A.
Piramal jointly with Urvi A. Piramal |
1 |
|
|
|
|
Total |
738000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of Auto Electrical Components for Original
Equipment Manufacturers (OEMs). |
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Products : |
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GENERAL INFORMATION
|
Customers : |
·
Tata ·
Maruti Suzuki ·
Plaggio ·
GM ·
Mahindra ·
Eicher ·
Ashok Leyland ·
New Holland ·
Escorts ·
Same Deutz-Fahr ·
Tafe ·
Lonbardini ·
Hindustan Motors ·
Greaves ·
Cummins ·
FIAT |
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No. of Employees : |
Information declined by management
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Bankers : |
·
The Saraswat Co-operative Bank Limited Lower Parel Branch, Orbit Eternia, N. M. Joshi Marg, Lower Parel,
Mumbai – 400013, Maharashtra, India · Axis Bank Limited Corporate Banking Branch, Ground Floor, Axis House Bombay, dyeing Mills, compound, P B Marg, Worli, Mumbai – 400025, Maharashtra, India · IDBI Bank Limited 224-A, Mittal court, A Wing, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
701, Leela Business Park, Andheri Kurla Road, Mumbai-400059,
Maharashtra, India |
|
PAN No.: |
AAECA6883E |
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|
|
|
Associates : |
Morarjee
Textiles Limited CIN No.:-
L52322MH1995PLC090643 Peninsula Land
Limited CIN No.:-
L17120MH1871PLC000005 Miranda Few
Tools Private Limited CIN No.:-
U51909MH2005PTC150968 Piramal Roads
Infra Private Limited CIN No.:-
U45200MH2010PTC208056 Topvalue Real
Estate Development Limited CIN No.:-
U70200MH2008PLC185165 Ashok Piramal
Management Corporation Limited CIN No.:-
U74140MH2005PLC158082 Peninsula
Holdings and Investments Private Limited CIN No.:- U67190MH2008PTC179576 Miranda Ultra
Tools Private Limited CIN No.:-
U29253MH2011PTC225496 |
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|
|
|
Fellow Subsidiaries : |
· PMP Pal International S.R.O, Czech Republic |
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|
|
|
Wholly Owned Subsidiaries : |
·
PMP Bakony Ablaktorlo Rendszerek Kft ·
PMP Components (Mauritius) Limited, Mauritius |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6800000 |
Equity Shares |
Rs.10/- each |
Rs.68.000 Millions |
|
400000 |
1% Non-Cumulative Redeemable Preference
Shares |
Rs.10/- each |
Rs.4.000 Millions |
|
800000 |
10% Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.80.000
Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4991135 |
Equity Shares |
Rs.10/- each |
Rs.49.911
Millions |
|
137377 |
1% Non-Cumulative Redeemable Preference
Shares |
Rs.10/- each |
Rs.1.374 Millions |
|
738000 |
10% Cumulative Redeemable Preference Shares |
Rs.10/- each |
Rs.7.380 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.58.665 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 |
58.665 |
53.665 |
21.630 |
|
(b) Reserves & Surplus |
1237.649 |
1205.538 |
1085.209 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
32.035 |
|
Total
Shareholders’ Funds (1)+(2) |
1296.314 |
1259.203 |
1138.874 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
160.400 |
288.080 |
368.943 |
|
(b) Deferred tax liabilities (Net) |
37.774 |
29.562 |
23.426 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
10.227 |
8.804 |
8.585 |
|
Total Non-current Liabilities (3) |
208.401 |
326.446 |
400.954 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
583.021 |
461.674 |
250.949 |
|
(b) Trade payables |
165.605 |
176.774 |
214.965 |
|
(c) Other current
liabilities |
284.977 |
204.456 |
164.090 |
|
(d) Short-term provisions |
10.427 |
9.005 |
5.883 |
|
Total Current Liabilities (4) |
1044.030 |
851.909 |
635.887 |
|
|
|
|
|
|
TOTAL |
2548.745 |
2437.558 |
2175.715 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
608.155 |
563.332 |
536.740 |
|
(ii) Intangible Assets |
15.106 |
5.896 |
0.000 |
|
(iii) Capital
work-in-progress |
45.817 |
84.351 |
80.774 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
512.229 |
455.096 |
443.896 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
244.955 |
374.943 |
279.671 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1426.262 |
1483.618 |
1341.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
366.971 |
422.198 |
357.699 |
|
(c) Trade receivables |
340.648 |
309.884 |
269.793 |
|
(d) Cash and cash
equivalents |
109.230 |
25.733 |
29.341 |
|
(e) Short-term loans and
advances |
302.595 |
195.626 |
177.801 |
|
(f) Other current assets |
3.039 |
0.499 |
0.000 |
|
Total Current Assets |
1122.483 |
953.940 |
834.634 |
|
|
|
|
|
|
TOTAL |
2548.745 |
2437.558 |
2175.715 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
2056.442 |
2250.136 |
1835.497 |
|
|
|
TOTAL (A) |
2056.442 |
2250.136 |
1835.497 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1809.199 |
1960.598 |
1547.363 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
247.243 |
289.538 |
288.134 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
119.228 |
109.751 |
117.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
128.015 |
179.787 |
170.248 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
50.020 |
41.935 |
36.822 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
77.995 |
137.852 |
133.426 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.211 |
49.674 |
46.622 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
52.784 |
88.178 |
86.804 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
590.935 |
439.068 |
288.816 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.99 |
16.43 |
16.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.57 |
3.92 |
4.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.92 |
7.26 |
8.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.11 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.57 |
0.60 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.12 |
1.31 |
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 |
21.630 |
53.665 |
58.665 |
|
Reserves & Surplus |
1085.209 |
1205.538 |
1237.649 |
|
Share Application money pending allotment |
32.035 |
0.000 |
0.000 |
|
Net worth |
1138.874 |
1259.203 |
1296.314 |
|
|
|
|
|
|
long-term borrowings |
368.943 |
288.080 |
160.400 |
|
Short term borrowings |
250.949 |
461.674 |
583.021 |
|
Total borrowings |
619.892 |
749.754 |
743.421 |
|
Debt/Equity ratio |
0.544 |
0.595 |
0.573 |
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) |
|
Total Income |
1,835.497 |
2,250.136 |
2,056.442 |
|
|
|
22.590 |
(8.608) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
1,835.497 |
2,250.136 |
2,056.442 |
|
Profit |
86.804 |
88.178 |
52.784 |
|
|
4.73% |
3.92% |
2.57% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current Maturity of Long Term Borrowings |
127.680 |
81.085 |
13.838 |
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Other Loans and Advances |
32.788 |
44.690 |
|
|
|
|
|
Total |
32.788 |
44.690 |
NOTE
The registered office of the company has been shifted from Admn Bilding, Morarjee Mills, Dr Ambedkar Road, Parel, Mumbai – 400012, Maharashtra, India to 106 Peninsula Centre, Dr S S Rao Road Parel,
Mumbai -400012, Maharashtra, India w.e.f. 01.06.2006
The registered office of the company has been again shifted
from 106 Peninsula Centre, Dr S S Rao Road Parel, Mumbai
-400012, Maharashtra, India to present address w.e.f. 31.01.2007
OPERATIONS
During the
financial year, the total income increased from Rs.2250.136 Millions to
Rs.2056.442 Millions. The year ended at a profit of Rs.52.784 Millions as
against the profit of Rs.88.178 Millions in the previous year
FUTURE OUTLOOK
The Auto Industry has shown
little growth in F13 and the growth in Passenger vehicle and tractor has been
stagnant. The growth has been mainly in LCV segment by 14% and in SUV segment
by 52 %.
However demand of our products
particularly alternator for Tractor application continued due to increase in
Tractor production in first half of F14. They have increased capacity of
alternator production at their Rudrapur plant to meet the demand. They have
received new orders of wiper system from Renault, Nissan and VW.
The R&D has developed
wiper system for Tata Ace facelift and Maruti new Alto applications. In
addition the development of internal fan alternator for Mahindra Dhruv tractor
has completed. Product is under testing and field trials.
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge
Creation /Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN |
|
1 |
10389853 |
07/11/2012 |
150,000,000.00 |
Export-Import Bank
of India |
Centre One
Building, Floor 21, World Trade Centre |
B63277826 |
|
2 |
10274948 |
09/03/2011 |
72,500,000.00 |
The Saraswat
Co-op Bank Limited |
Lower Parel Branch,
Orbit Eternia, N M Joshi Marg, Lower Parel, Mumbai, Maharashtra - 400013,
India |
B08846008 |
|
3 |
10274950 |
11/02/2011 |
972,500,000.00 |
The Saraswat
Co-op Bank Limited (Lead Banker in Multiple Banking) |
Lower Parel Branch,
Orbit Eternia, N M Joshi Marg, Lower Parel, Mumbai, Maharashtra - 400013,
India |
B08848418 |
|
4 |
10242635 |
29/03/2012 * |
250,000,000.00 |
The Saraswat
Co-op Bank Limited |
Lower Parel Branch,
Orbit Eternia, N M Joshi Marg, Lower Parel, Mumbai, Maharashtra - 400013,
India |
B37172996 |
|
5 |
10243507 |
21/09/2010 |
300,000,000.00 |
The Saraswat
Co-op Bank Limited |
Lower Parel Branch,
Orbit Eternia, N M Joshi Marg, Lower Parel, Mumbai, Maharashtra - 400013,
India |
A95931242 |
|
6 |
10242147 |
26/11/2010 * |
330,000,000.00 |
IDBI Bank
Limited |
224-A, Mittal
Court,, A-Wing, Nariman Point, Mumbai, Maharashtra - 400021, India |
B01350107 |
|
7 |
10242111 |
09/09/2010 |
40,000,000.00 |
IDBI Bank
Limited |
224-A, Mittal
Court,, A-Wing, Nariman Point, Mumbai, Maharashtra - 400021, India |
A95307963 |
|
8 |
10119978 |
02/08/2008 |
150,000,000.00 |
Axis Bank
Limited |
Universal Insurance
Bldg., Sir P. M. Road, Fort, Mumbai, Maharashtra - 400001, India |
A44552529 |
|
9 |
10020399 |
18/11/2008 * |
189,200,000.00 |
Axis Bank
Limited |
Trishul 3rd
Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat
- 380006, India |
A52602091 |
|
10 |
80044569 |
08/04/2008 * |
189,200,000.00 |
Axis Bank
Limited |
Fort Branch,
Universal Insu Bldg, Sir P. M. Road, |
A36939247 |
|
11 |
90142058 |
09/12/1997 |
95,000,000.00 |
Oriental Bank Of
Commerce |
Jash Chambers;
Ground Floor; Sir P M Road, MUMBAI, |
- |
|
* Date of charge modification |
||||||
FIXED ASSETS
·
Goodwill
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Furniture and Fixture
·
Office Equipment
·
Vehicles
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 records 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.58.77 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
50 |
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.