MIRA
INFORM REPORT
|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BAJAJSONS LIMITED |
|
|
|
|
Registered
Office : |
C-103, Focal Point, Phase V, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.01.1985 |
|
|
|
|
Com. Reg. No.: |
16-006127 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 78.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PB1985PLC006127 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDB00544F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB6875H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Precision Engineered Automotive Machined Components. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1640000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. There seems sharp decline in the profit of the company during FY2013.
However, networth of the company is satisfactory. General financial position
of the company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety it carry moderate
credit risk. |
|
Date |
July 08, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit
risk. |
|
Date |
July 08, 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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-161-5292600]
LOCATIONS
|
Registered Office/ Factory 1 : |
C-103, Focal Point, Phase V, Ludhiana – 141010, Punjab, India |
|
Tel. No.: |
91-161-5292600-30 |
|
Fax No.: |
91-161-2670104 |
|
E-Mail : |
|
|
Website : |
|
|
|
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|
Factory 2 : |
C-68, Focal Point, Phase-III, Ludhiana – 141010, Punjab India |
|
Tel. No.: |
91-161-5080113-17 |
|
Fax No.: |
91-161-2673024 |
|
|
|
|
Factory 3 : |
C-92-93, Focal Point, Phase-V, Ludhiana - 141010, Punjab India |
|
Tel. No.: |
91-161-5292700-30 |
|
Fax No.: |
91-161-2671008 |
|
|
|
|
Factory 4 : |
Plot No. 31, M.I.D.C. Area, Satpur, Nashik – 422007, Maharashtra, India |
|
Tel. No.: |
91-253-2365771/ 2361515 |
|
Fax No.: |
91-253-2361515 |
|
E-Mail : |
|
|
|
|
|
Factory 5 : |
Plot No. 42, Shiv Ganga Industrial Estate, Village Lakesari,
P.O. Pargana, Bhagwanpur, Tehsil Roorkee, Uttrakhand, India |
|
Tel. No.: |
91-1332-235240-42 |
|
E-Mail : |
|
|
|
|
|
Factory 6 : |
Plot No. 02, Industrial Park IV, Near Bahadrabad Road, Village Begampur,
District Haridwar, Uttrakhand, India |
|
E-Mail : |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Surender Pal Bajaj |
|
Designation : |
Managing Director |
|
Address : |
2746/1 Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
28.06.1938 |
|
Qualification : |
Civil Engineering |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABJPB4764E |
|
DIN No.: |
00042105 |
|
|
|
|
Name : |
Mr. Virender Pal Bajaj |
|
Designation : |
Director |
|
Address : |
1804, Sector -17, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
24.04.1939 |
|
Date of Appointment : |
01.01.1989 |
|
PAN No.: |
ABJPB4763D |
|
DIN No.: |
00003030 |
|
|
|
|
Name : |
Mr. Sanjay Bajaj |
|
Designation : |
Whole-time director |
|
Address : |
2746/1 Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
11.12.1964 |
|
Qualification : |
B.E |
|
Date of Appointment : |
25.04.1999 |
|
PAN No.: |
APJPB9963F |
|
DIN No.: |
00042035 |
|
|
|
|
Name : |
Mr. Sumeet Bajaj |
|
Designation : |
Whole-time director |
|
Address : |
2746/1 Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
25.06.1969 |
|
Qualification : |
B.E, MBA |
|
Date of Appointment : |
25.04.2009 |
|
PAN No.: |
ABFPB1955K |
|
DIN No.: |
00044340 |
|
|
|
|
Name : |
Mr. Subhash Chandar Bajaj |
|
Designation : |
Director |
|
Address : |
2788, Gurdev Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
18.01.1941 |
|
Date of Appointment : |
31.01.1985 |
|
PAN No.: |
AIMPB0398N |
|
DIN No.: |
00044392 |
|
|
|
|
Name : |
Mr. Ashwani Kumar |
|
Designation : |
Additional Director |
|
Address : |
B-1, 1375, Opposite Old Courts, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
15.10.1948 |
|
Date of Appointment : |
28.09.2010 |
|
DIN No.: |
03060569 |
|
|
|
|
Name : |
Dr. Anil Kapoor |
|
Designation : |
Director |
|
Address : |
Kapoor Clinic, Sunder Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
02.07.1954 |
|
Date of Appointment : |
28.09.2010 |
|
DIN No.: |
03162799 |
|
|
|
|
Name : |
Mr. Rajpal Ahuja |
|
Designation : |
Director |
|
Address : |
H. No.6, Sant Fateh Singh Nagar, Durgi Road, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
10.09.1935 |
|
Date of Appointment : |
28.09.2010 |
|
DIN No.: |
03225555 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
V P Bajaj |
|
489755 |
|
S C Bajaj |
|
1117312 |
|
S P Bajaj |
|
2555 |
|
Sushma Bajaj |
|
978600 |
|
Sushma Bajaj |
|
406000 |
|
Sanjay Bajaj |
|
342300 |
|
Sheel S Bajaj |
|
273350 |
|
Saurabh Bajaj |
|
192500 |
|
Sumeet Bajaj |
|
447300 |
|
Vikas Bajaj |
|
253235 |
|
Bajaj Precision Forgings (Private) Limited, India |
|
1064000 |
|
Vimmi Bajaj |
|
227500 |
|
Preeti Bajaj |
|
383410 |
|
Ekta Bajaj |
|
70000 |
|
Sanjay Bajaj (HUF) |
|
122500 |
|
Subhash Bajaj (HUF) |
|
348430 |
|
Kamna Bajaj |
|
383425 |
|
V P Bajaj (HUF) |
|
140000 |
|
S P Bajaj (HUF) |
|
28 |
|
Deepak Bajaj |
|
597800 |
|
|
|
|
|
Total |
|
7840000 |
AS ON 27.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
14.00 |
|
Directors
or relatives of directors |
86.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Precision Engineered Automotive Machined Components. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Yes Bank Limited 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · Citibank N.A Ground Floor, Ludhiana Stock Exchange, Feroz Gandhi Market, Ludhiana - 141001, Punjab, India · State Bank of India Specialised Commercial Branch, Miller Ganj, Ludhiana - 141010, Punjab, India · Standard Chartered Bank Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, Delhi, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Citi Bank Jeevan Vihar, J. Sansad Marg, New Delhi - 110001, Delhi, India · State Bank of India Industrial Finance Branch, Golden Tower,, Dholewal Chowk, Ludhiana - 141003, Punjab, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. Kumar Gupta and Company Chartered Accountants |
|
Address : |
K-109 1st Floor, Kismat Complex, G.T. Road, Miller Ganj,
Ludhiana, Punjab, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFA6084H |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Bajaj Motors Limited Saroop Sons Industries Limited [U00000PB1998PLC021713] Apex Petroleum Bajaj Precision Forging Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,840,000 |
Equity Shares |
Rs. 10/- each |
Rs. 78.400 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 |
78.400 |
78.400 |
78.400 |
|
(b) Reserves & Surplus |
331.858 |
322.655 |
282.022 |
|
(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) |
410.258 |
401.055 |
360.422 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
277.277 |
300.140 |
317.488 |
|
(b) Deferred tax liabilities (Net) |
48.949 |
52.213 |
48.389 |
|
(c) Other long
term liabilities |
0.496 |
0.400 |
0.400 |
|
(d) long-term
provisions |
38.079 |
29.519 |
22.186 |
|
Total Non-current
Liabilities (3) |
364.801 |
382.272 |
388.463 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
216.835 |
236.415 |
163.044 |
|
(b)
Trade payables |
274.445 |
266.018 |
261.027 |
|
(c)
Other current liabilities |
198.470 |
143.543 |
137.876 |
|
(d) Short-term
provisions |
49.178 |
37.698 |
33.900 |
|
Total Current
Liabilities (4) |
738.928 |
683.674 |
595.847 |
|
|
|
|
|
|
TOTAL |
1513.987 |
1467.001 |
1344.732 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
662.873 |
647.733 |
674.046 |
|
(ii)
Intangible Assets |
4.922 |
5.143 |
4.311 |
|
(iii)
Capital work-in-progress |
1.346 |
4.696 |
4.295 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.210 |
0.895 |
0.895 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.363 |
17.161 |
11.144 |
|
(e) Other
Non-current assets |
24.480 |
14.473 |
6.278 |
|
Total Non-Current
Assets |
710.194 |
690.101 |
700.969 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
385.468 |
377.818 |
303.305 |
|
(c)
Trade receivables |
316.779 |
308.121 |
271.716 |
|
(d) Cash
and cash equivalents |
16.379 |
23.891 |
11.352 |
|
(e)
Short-term loans and advances |
85.167 |
67.070 |
57.390 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
803.793 |
776.900 |
643.763 |
|
|
|
|
|
|
TOTAL |
1513.987 |
1467.001 |
1344.732 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2548.287 |
2474.018 |
2071.818 |
|
|
|
Other Income |
6.953 |
1.101 |
0.999 |
|
|
|
TOTAL (A) |
2555.240 |
2475.119 |
2072.817 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1506.284 |
1520.682 |
1198.189 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(19.081) |
(56.741) |
18.367 |
|
|
|
Employees benefits expense |
499.231 |
444.201 |
365.876 |
|
|
|
Other expenses |
445.487 |
418.509 |
360.927 |
|
|
|
Exceptional Items |
0.000 |
(16.725) |
0.000 |
|
|
|
Extraordinary Items |
0.386 |
0.640 |
1.524 |
|
|
|
TOTAL (B) |
2432.307 |
2310.566 |
1944.883 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
122.933 |
164.553 |
127.934 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
49.981 |
56.740 |
49.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
72.952 |
107.813 |
78.834 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.013 |
62.256 |
54.688 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.939 |
45.557 |
24.146 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(3.264) |
4.924 |
8.707 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9.203 |
40.633 |
15.439 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
44.813 |
50.479 |
41.427 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
250.429 |
210.496 |
137.000 |
|
|
|
Stores & Spares |
0.201 |
0.000 |
0.000 |
|
|
|
Capital Goods |
4.745 |
3.478 |
32.339 |
|
|
TOTAL IMPORTS |
255.375 |
213.974 |
169.339 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.17 |
5.18 |
1.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.36 |
1.64 |
0.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.23 |
1.84 |
1.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.39 |
3.12 |
1.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.11 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.20 |
1.34 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.14 |
1.08 |
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 |
78.400 |
78.400 |
78.400 |
|
Reserves & Surplus |
282.022 |
322.655 |
331.858 |
|
Net
worth |
360.422 |
401.055 |
410.258 |
|
|
|
|
|
|
Long-term borrowings |
317.488 |
300.140 |
277.277 |
|
Short term borrowings |
163.044 |
236.415 |
216.835 |
|
Total
borrowings |
480.532 |
536.555 |
494.112 |
|
Debt/Equity ratio |
1.333 |
1.338 |
1.204 |
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 |
2071.818 |
2474.018 |
2548.287 |
|
|
|
19.413 |
3.002 |
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 |
2071.818 |
2474.018 |
2548.287 |
|
Profit |
15.439 |
40.633 |
9.203 |
|
|
0.75% |
1.64% |
0.36% |
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 |
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 |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10404811 |
09/01/2013 |
50,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI,
MAHARASHTRA - |
B68667823 |
|
2 |
10242121 |
18/03/2011 * |
129,250,000.00 |
STANDARD CHARTERED
BANK (ACTING AS AN SECURITY AGE |
CREDIT RISK
CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
B08884736 |
|
3 |
10189869 |
19/02/2011 * |
167,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B10182491 |
|
4 |
10095893 |
18/03/2011 * |
140,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT RISK
CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
B08885147 |
|
5 |
10062860 |
18/03/2011 * |
120,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT RISK CONTROL,
NARAIN MANZIL, 23 BARAKHAMBA |
B08884140 |
|
6 |
10015773 |
15/02/2012 * |
50,000,000.00 |
CITIBANK N.A |
GROUND FLOOR, LUDHIANA STOCK EXCHANGE, FEROZ GANDHI MARKET, LUDHIANA, PUNJAB - 141001, INDIA |
B32903072 |
|
7 |
10020283 |
15/02/2012 * |
50,000,000.00 |
CITIBANK N.A |
GROUND FLOOR, LUDHIANA STOCK EXCHANGE, FEROZ GANDHI MARKET, LUDHIANA, PUNJAB - 141001, INDIA |
B32981961 |
|
8 |
90169221 |
28/08/2014 * |
100,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, GOLDEN TOWER,, DHOLEWAL CHOWK, LUDHIANA, PUNJAB - 141003, INDIA |
C21129481 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
196.944 |
155.927 |
|
|
|
|
|
Total |
196.944 |
155.927 |
FINANCIAL AND
OPERATING PERFORMANCE
The company has achieved sale of Rs. 2548.287 Millions as
compared to Rs. 2475.118 Millions in the previous year registering a marginal
growth of 2.95% which is mainly due to the slowdown in the auto sector. The
Profit after Tax has declined from Rs. 39.737 Millions in previous year to Rs.
9.203 Millions in the current year on account of increase in cost of labour and
overhead cost. No other material changes and commitments affecting the
financial health of the company have occurred during the end of financial year
and the date of this report.
FIXED ASSETS:
· Land
Buildings
Factory
building
Other
building
Plant
and equipment
Factory
equipments
Other
pollution reduction 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. 61.75 |
|
|
1 |
Rs. 100.07 |
|
Euro |
1 |
Rs. 77.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.