MIRA INFORM REPORT

 

 

Report Date :

04.10.2014

 

IDENTIFICATION DETAILS

 

Name :

SANDVIK ASIA PRIVATE LIMITED (w.e.f. 15.03.2010)

 

 

Formerly Known As :

SANDVIK ASIA LIMITED

 

 

Registered Office :

Sandvik Coromant, Mumbai – Pune Road, Dapodi, Pune-411012, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

08.07.1960

 

 

Com. Reg. No.:

11-011751

 

 

Capital Investment / Paid-up Capital :

Rs.1149.000 Millions

 

 

CIN No.:

[Company Identification No.]

U29299PN1960PTC011751

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNES00125G / PNES09024B

 

 

PAN No.:

[Permanent Account No.]

AACCS6638K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Trader of tungsten carbide tools, rock processing equipments, thermostatic electrical bimetal strips, wires, ribbons, heating elements, cold finished tubes/pipes and manufacturing of hot extruded seamless stainless steel tubes/pipes.

 

 

No. of Employees :

Information Decline by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (62)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exist

 

 

Comments :

Subject is a well-established company having fine track record.

 

The rating reflects company’s healthy financial risk profile marked by adequate liquidity position and wide product portfolio as well as diversified customer base of the company.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment.

 

The company can be considered good for normal business dealings at usual trade terms and conditions.

 

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

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 wilfully 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=AA-

Rating Explanation

High degree of safety and carry very low credit risk.

Date

25.03.2014

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating=A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

25.03.2014

 

 

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 DENIED

 

Management Non Co-operative (91-20-27146800)

 

 

LOCATIONS

 

Registered Office :

Sandvik Coromant, Mumbai – Pune Road, Dapodi, Pune – 411 012, Maharashtra, India

Tel. No.:

91-20-27146800 / 27104800 / 725

Fax No.:

91-20-27149370 / 27145022 / 736/ 27104800

E-Mail :

accounts@sandvik.com

kiran.acharya@sandvik.com

Website :

http://www.sandvik.com

Location :

Owned

 

 

Sales Office :

Plot 49 and 49B, Sipcot Industrial Complex, Hosur – 635 126, Tamilnadu, India

Tel No.:

91-4344-403500/579

Fax No.:

91-4344-403520

 

 

Branch Office :

Located at :

·         Bangalore

·         Chennai

·         Gurgaon

·         Hyderabad

·         Kolkata

·         Patancheru

 

 

DIRECTORS

 

AS ON 27.09.2013

 

Name :

Mr. Ajay Waman Sambrani

Designation :

Managing director

Address :

A6/426, Apartment, Gurudwara Road, Bodakdev, Ahemedabad – 380054, Gujarat, India

Date of Birth/Age :

24.01.1966

Date of Appointment :

27.09.2011

DIN No.:

03630635

 

 

Name :

Mr. Suresh Narsappa Talwar

Designation :

Director

Address :

100000, Shiv Shanti Bhavan, 146, Maharshi Karve Road, Churchgate, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

21.11.1937

Date of Appointment :

29.03.1989

DIN No.:

00001456

 

 

Name :

Mr. Ajitkumar Daulatrao Jadhav

Designation :

Director

Address :

409, Shakala, Maharshi Karve Road, Churchgate, Mumbai – 400021, Maharashtra, India

Date of Birth/Age :

20.02.1947

Date of Appointment :

29.09.2009

DIN No.:

02071304

 

 

Name :

Mr. Olaf Bertil Faxander

Designation :

Director

Address :

Polismyndigheten I, Sweden, Stockholms Lan, Stockholms – 700519

Date of Birth/Age :

19.05.1970

Date of Appointment :

27.09.2011

DIN No.:

03557497

 

 

Name :

Mr. Gary Hughes

Designation :

Director

Address :

Bachplein 13, 1077 GH, Amsterdam Woonardes, Amsterdam, Netherlands 1077

Date of Birth/Age :

11.11.1950

Date of Appointment :

27.09.2013

DIN No.:

06468612

 

 

KEY EXECUTIVES

 

Name :

Ms. Nisha Laxmidas Hindocha

Designation :

Secretary

Address :

B/B/93, Mahavir Park, Behind Big Bazar, Pune Satara Road, Pune – 411 037, Maharashtra, India

Date of Birth/Age :

10.11.1980

Date of Appointment :

14.08.2013

PAN No.:

ABWPH4412N

 

 

MAJOR SHAREHOLDERS

 

AS ON 27.09.2013

 

Names of Equity Shareholders

 

 

No. of Shares

Sandvik AB, Sweden

 

1801241

Sandvik Finance BV, Sweden

 

595700

Sandvik Far East Limited AB, Sweden

 

1

Industri AB Skomab, Sweden

 

1

Sandvik Invest AB, Sweden

 

1

SETP Invest AB, Sweden

 

1

AB Sandvik Teknik, Sweden

 

1

 

 

 

Total

 

2396946

 

Names of Preference Shareholders

 

 

No. of Shares

Sandvik AB, Sweden

 

14229000

Sandvik Finance BV, Sweden

 

73558700

Sandvik Heating Technology AB, Sweden

 

3144565

 

 

 

Total

 

90932265

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 27.09.2013

 

Category

Percentage

Bodies corporate

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of tungsten carbide tools, rock processing equipments, thermostatic electrical bimetal strips, wires, ribbons, heating elements, cold finished tubes/pipes and manufacturing of hot extruded seamless stainless steel tubes/pipes.

 

 

Products :

ITC Code:

Product Description:

8207 / 8466

Interchangeable tools for hand tools etc.

8209

Plates, sticks, tips

 

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Tungsten Carbide products including integral Rock Drill Steels, Bits, Detachable Bits, Extension Drill Steel Equipments, Inserts Tips, Dies, Nibs and other applications

 

Tonnes

No’s in

Millions

 

258

 

258

 

12.00

Sandvik Coromant Tools, Wear resisting Parts and similar products, mining and construction tools

No's in

Millions

1.48

1.48

1.46

Taps and solid carbide drills

No's in

Millions

1.26

0.83

0.60

Hydrogen gas

CU mtrs

700000

700000

--

Cobalt Metal and Compounds

Tones

70

70

64.40

Thermostatic bimetal/strip

 

Tones

100

--

26.00

High resistance electrical wires, strips and ribbons

Tones

600

200

176.10

Bimetal components, Heating elements and terminal rods

Nos.

@

@

1332753

Hot extruded steel pipes

Tones

--

10000

6922.00

Recycling of inserts

Tones

750

750

461.80

 

 

@ There is no separate licensed and installed capacity.

 

 

GENERAL INFORMATION

 

No. of Employees :

Information Decline by the management

 

 

Bankers :

·         The Hong Kong And Shanghai Banking Corporation Limited, 52/60; Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India

·         Citi Bank N A., 2413, Parmar House, East Street Camp, Pune 411001, Maharashtra, India

·         HSBC Bank

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

Other related party

 

 

Term loan from bank*

(Secured against book debts and inventory)

35.000

33.000

Short Term Borrowings

 

 

Loans from banks*

(secured against book debts and inventory)

441.000

389.000

 

 

 

Total

476.000

422.000

 

NOTES:

 

Long Term Borrowings:

* Loan from Bank is a foreign currency buyers credit loan taken from HSBC bank during the financial year 2011-12 which carries interest at LIBOR + 0.5%. Loan will be due for repayment on 8 July 2014.

 

Short Term Borrowings

* Loans from banks include buyers credit and PCFC loans in foreign currency with interest rates ranging between LIBOR plus 0.5% to 1%.

These loans are repayable on their respective due dates.

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

B S R and Company

Chartered Accountants

Address :

1st Floor, Lodha Excelus Apollo Mills, Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400 011, Maharashtra, India

Tel. No.:

 

PAN No.:

AAAFB9852F

 

 

Holding Company  :

·         Sandvik AB

 

 

Subsidiaries :

·         Sandvik Mining and Construction Tools India Private Limited

 

 

Fellow Subsidiaries :

ARGENTINA

·         Sandvik Argentina S.A.

 

AUSTRALIA

·         Sandvik Australia Pty Limited

·         Sandvik Mining and Construction Adelaide Ltd

·         Sandvik Mining and Construction Australia Pty Limited

 

AUSTRIA

·         Sandvik in Austria Ges.m.b.H.

·         Sandvik Mining and Construction G.m.b.H.

·         Sandvik Mining and Construction Materials Handling GmbH

 

BELGIUM

·         Sandvik Benelux B.V.

 

BRAZIL

·         Sandvik do Brasil S.A.

·         Sandvik Materials Technology do Brasil S.A

·         Sandvik Mining and Construction do Brasil S.A.

 

CANADA

·         Production Unit in North Bay

·         Sandvik Canada, Inc.

·         Sandvik Materials Technology Canada SU

·         Sandvik Mining and Construction Canada Inc.

·         Sandvik SMC Loaders Burlington

 

CHILE

·         Sandvik Chile S.A.

·         Sandvik Mining and Construction Chile SA.

 

CHINA

·         Sandvik (Qingdao) Limited

·         Sandvik Hongkong Limited

·         Sandvik International Trading (Shanghai) Company Limited

·         Sandvik Materials Technology (China) Limited

·         Sandvik Mining and Construction (China) Company Limited

·         Sandvik Mining and Construction Trading (Shanghai) Company Limited

·         Sandvik Process Systems (Shanghai) Limited

·         Sandvik Sales and Trade (Shanghai) Company Limited

·         Sandvik Tooling Production (Langfang) Company Limited

 

COLOMBIA

·         Sandvik Colombia S.A.S.

 

CZECH REPUBLIC

·         Sandvik Chomutov Precision Tubes Spol. s.r.o.

 

FINLAND

·         Sandvik Mining and Construction OY

·         SMC Hollola PU

 

FRANCE

·         Gunther Tools S.A.S.

·         Sandvik Hard Materials S.A.S

·         Sandvik Materials Technology France S.A.S.

·         Sandvik Materials Technology Precitube

·         Sandvik Mining and Construction Chauny

·         Sandvik Mining and Construction France S.A.S.

·         Sandvik Mining and Construction Lyon S.A.S.

 

GERMANY

·         Prototyp-Werke GmbH

·         Sandvik Materials Technology Deutschland GmbH,

·         ZN Sandvik P and P

·         Sandvik Materials Technology Deutschland GmbH,

·         ZN Sandvik Process Systems

·         Sandvik Materials Technology Deutschland GmbH,

·         ZN Sandvik Surface Solutions

·         Sandvik Mining and Construction Central Europe GmbH

·         Sandvik Mining and Construction Crushing Technology GmbH

·         Sandvik Mining and Construction Europe GmbH

·         Sandvik Tooling Deutschland GmbH

·         Sandvik Tooling Deutschland GmbH, BU Sandvik Coromant

·         Sandvik Tooling Supply Schmalkalden,

·         Zweigniederlassung der Sandvik Tooling Deutschland GmbH

 

INDIA

·         Seco Tools

·         Walter Tools India Private Limited

 

INDONESIA

·         P.T. Sandvik Indonesia

 

IRELAND

·         Sandvik Mining and Construction Logistics Limited

 

ITALY

·         Dormer Italia S.p.A.

·         Sandvik Italia S.p.A.

 

JAPAN

·         Sandvik KK

·         Sandvik Tooling Supply Japan K.K.

 

KOREA (SOUTH)

·         Sandvik Korea Limited

·         Sandvik Suhjun Limited

 

MALAYSIA

·         Sandvik Malaysia Sdn Bhd

·         Sandvik Mining and Construction (M) Sdn Bhd

 

MEXICO

·         Sandvik de Mexico S.A. de C.V.

·         Sandvik Mining and Construction de Mexico S.A. de C.V.

 

NEW ZEALAND

·         Sandvik New Zealand Limited

 

NORWAY

·         Teeness ASA

 

PERU

·         Sandvik del Peru S.A.

 

PHILIPPINES

·         Sandvik Philippines Inc.

 

RUSSIAN FEDERATION

·         Sandvik Mining and Construction CIS LLC

 

SINGAPORE

·         Asia Pacific Distribution Center (APDC)

·         Sandvik Mining and Construction S.E.A. Pte. Limited

·         Sandvik South East Asia Pte. Limited

 

SOUTH AFRICA

·         Sandvik (Pty) Limited

·         Sandvik Mining and Construction Delmas Pty Limited

·         Sandvik Mining and Construction RSA (Pty) Limited

 

SPAIN

·         Sandvik Espanola S.A.

 

SWEDEN

·         AB Sandvik Coromant

·         AB Sandvik Hard Materials

·         AB Sandvik Materials Technology

·         AB Sandvik Process Systems

·         Dormer Tools AB

·         Sandvik Besoks Service AB

·         Sandvik Heating Technology AB

·         Sandvik Intellectual Property AB

·         Sandvik IT Services AB

·         Sandvik Machining Solutions AB

·         Sandvik Machining Solutions Sverige AB

·         Sandvik Materials Technology EMEA AB

·         Sandvik Mining and Construction AB

·         Sandvik Mining and Construction Koping AB

·         Sandvik Mining and Construction Sverige AB

·         Sandvik Mining and Construction Tools AB

·         Sandvik SRP AB

·         Wire Sandviken AB

 

SWITZERLAND

·         Santrade Limited

 

TAIWAN

·         Sandvik Hard Materials Taiwan Limited

·         Sandvik Taiwan Limited

 

THAILAND

·         Sandvik Thailand Limited

 

TURKEY

·         Sandvik E.M.S. Ticaret A.S.

 

UK

·         Dormer Tools Limited

·         Sandvik Bioline UK

·         Sandvik Coromant UK

·         Sandvik Medical Solutions - European Operations

·         Sandvik Mining and Construction Mobile Crushers

·         and Screens Limited

·         Sandvik Osprey Limited

·         Sandvik Saxon

·         Sandvik Tooling Supply GB

·         SHM Coventry UK

·         SHM Powder Production UK

 

UNITED ARAB EMIRATES

·         Sandvik Middle East FZE

 

UNITED STATES

·         ADC ( AMERICAN DISTRIBUTION CENTRE

·         Driltech Company

·         Sandvik Finance B.V.

·         Sandvik Hard Materials US

·         Sandvik Materials Technology Company

·         Sandvik MGT

·         Sandvik Mining and Construction USA LLC

·         Sandvik Palm Coast Production Unit

·         Sandvik Special Metals LLC

·         SHM US - PU

·         SMC Region USA / Canada

 

ZAMBIA

·         Sandvik Mining and Construction Zambia Limited

 

 

CAPITAL STRUCTURE

 

AS ON 27.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs.100/- each

Rs.1000.000 Millions

87788000

Preference Shares

Rs.10/- each

Rs.877.880 Millions

3145000

Preference Shares

Rs.25/- each

Rs.78.625 Millions

1232000

Preference Shares

Rs.25/- each

Rs.30.800 Millions

 

 

 

 

 

Total

 

Rs.1987.305 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2396946

Equity Shares

Rs.100/- each

Rs.239.695 Millions

87787700

Preference Shares

Rs.10/- each

Rs.877.877 Millions

3144565

Preference Shares

Rs.25/- each

Rs.78.614 Millions

 

 

 

 

 

Total

 

Rs.1196.186 Millions

 

 

AFTER 27.09.2013

 

Authorised Capital : Rs.1187.000 Millions

 

Issued, Subscribed & Paid-up Capital : Rs.1149.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

        I.            EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1149.000

1149.000

1149.000

(b) Reserves & Surplus

4734.000

4293.000

3634.000

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

2001.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

7884.000

5442.000

4783.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

535.000

33.000

491.000

(b) Deferred tax liabilities (Net)

17.000

0.000

0.000

(c) Other long term liabilities

0.000

16.000

15.000

(d) long-term provisions

633.000

640.000

431.000

Total Non-current Liabilities (3)

1185.000

689.000

937.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

810.000

1818.000

814.000

(b) Trade payables

3726.000

4044.000

3307.000

(c) Other current liabilities

1354.000

1817.000

1053.000

(d) Short-term provisions

868.000

345.000

315.000

Total Current Liabilities (4)

6758.000

8024.000

5489.000

 

 

 

 

TOTAL

15827.000

14155.000

11209.000

 

 

 

 

      II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

3681.000

3093.000

2832.000

(ii) Intangible Assets

115.000

155.000

25.000

(iii) Capital work-in-progress

276.000

498.000

351.000

(iv) Intangible assets under development

59.000

0.000

0.000

(b) Non-current Investments

0.000

20.000

20.000

(c) Deferred tax assets (net)

672.000

457.000

391.000

(d)  Long-term Loan and Advances

820.000

397.000

411.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

5623.000

4620.000

4030.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

3498.000

4119.000

3277.000

€ Trade receivables

3215.000

3111.000

2357.000

(d) Cash and cash equivalents

1821.000

418.000

371.000

€ Short-term loans and advances

1519.000

1376.000

880.000

(f) Other current assets

151.000

511.000

294.000

Total Current Assets

10204.000

9535.000

7179.000

 

 

 

 

TOTAL

15827.000

14155.000

11209.000

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

19511.000

19486.000

14908.000

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

1252.000

1560.000

1002.000

 

 

 

 

 

Less

TAX                                                                 

510.000

654.000

293.000

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

742.000

906.000

709.000

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

3663.000

3096.000

2704.000

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

74.000

93.000

71.000

 

 

Preference Shares Dividend (including dividend distribution tax)

22.000

22.000

22.000

 

 

Dividend on Equity Shares

(including dividend distribution tax)

265.000

224.000

224.000

 

BALANCE CARRIED TO THE B/S

4044.000

3663.000

3096.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

309.56

470.34

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PBT/Sales)

(%)
6.42
8.01

6.72

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
8.94
11.83

9.59

 

 
 
 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.16
0.29

0.21

 

 
 
 

 

Debt Equity Ratio

(Total Debt /Networth)

 
0.17
0.34

0.27

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
1.51
1.19

1.31

 

 

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

1149.000

1149.000

1149.000

Reserves & Surplus

3634.000

4293.000

4734.000

Share Application money pending allotment

0.000

0.000

2001.000

Net worth

4783.000

5442.000

7884.000

 

 

 

 

long-term borrowings

491.000

33.000

535.000

Short term borrowings

814.000

1818.000

810.000

Total borrowings

1305.000

1851.000

1345.000

Debt/Equity ratio

0.273

0.340

0.171

 

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

14908.000

19486.000

19511.000

 

 

30.708

0.128

 

 

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

14908.000

19486.000

19511.000

Profit

709.000

906.000

742.000

 

4.76%

4.65%

3.80%

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Rs. In Millions

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

Current maturities of long term debt

0.000

562.000

0.000

 

 

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

Yes

20]

Export / Import details (if applicable)

No

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

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

 

 

LITIGATION DETAILS:

 

 

Case Details

Case Type

Spl.Civ.Suit

Filing No.

204445/2014     Filing date: 02-08-2014

Registration No.

201111/2014     Registration date: 19-08-2014

Case code

202902044452014

 

CASE STATUS

First Hearing Date

19-08-2014

Next Hearing Date

18-10-2014

Purpose of Hearing

Awaiting Summons

Court No & Judge

52 - 4TH JT. CJSD AND ADDL. C.J.M. PUNE.

 

Petitioner(s) & Advocate(s)

Petitioner - Ms Tarini Steel Co. Ltd.
Address - 101, General Block, Telco Road, MIDC, Bhosari, Pune 26.
Advocate - A. Moolya

Respondent(s) & Advocate(s)

Respondent - Ms Sandvik Asia Pvt. Ltd. etc 1
Address - Mumbai Pune Road, Dapodi, Pune 12.
Advocate -

 

ACTS

Under Act(s)

Specific Relief Act

 

 

Under Section(s)

11, 34

 

 

Subject

 

 

 

 

 

 

LOWER COURT INFORMATION

 

 

Court No & Name

---

 

 

Case No & Year

---

 

 

Case Decision Date

---

 

 

 

History Of Case Hearing

Regn. No.

Judge

Bussiness on Date

Hearing Date

Purpose of Hearing

201111/2014

23TH CJSD AND ADDL. C. J. M. PUNE.

19-08-2014

18-10-2014

Awaiting Summons

 

Orders

Order No.

Order Date

Order Details

 

 

Writ Information

Regn. No.

Appellate Case No.

Appellate Authority

Date of Reciept

 

Case Transfer Details Between The Courts

Regn. No.

Transfer Date

From Court No
& Judge

To Court No
& Judge

 

 

 

 

 

UNSECURED LOANS:

 

Particulars

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

From related parties**

500.000

0.000

Short Term Borrowings

 

 

Loans from Banks*

369.000

1429.000

 

 

 

Total

869.000

1429.000

 

 

NOTES:

 

Long Term Borrowings:

** ECB from Sandvik AB, the holding company, was taken on 29 May 2012 and is repayable on 29 May 2017. The loan carries interest of 8% p.a.

 

Short Term Borrowings:

* Loans from banks include buyer’s credit and PCFC loans in foreign currency with interest rates ranging between LIBOR plus 0.5% to 1%.

These loans are repayable on their respective due dates.

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10121243

09/07/2008

1,000,000,000.00

CITIBANK N.A

2413, PARMAR HOUSE, EAST STREET CAMP, PUNE  - 411001, MAHARASHTRA, INDIA

A44173961

2

10121244

09/07/2008

1,000,000,000.00

CITIBANK N.A

2413, PARMAR HOUSE, EAST STREET CAMP, PUNE  - 411001, MAHARASHTRA, INDIA

A44174548

3

80031452

22/03/2002

740,000,000.00

CITI BANK

KUMAR PLAZA,, 2413 EASE STREET, PUNE - 411001, MAHARASHTRA
, INDIA

-

4

90088174

26/03/1999

120,000,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, NO.14; PUNE- MUMBAI ROAD, WAKDEWADI, PUNE - 411003, MAHARASHTRA, INDIA

-

5

90197492

28/01/1999

28,000,000.00

CORPORATION BANK

INDL FINANCE BRANCH, QUEENS ROAD, BANGALORE - 560001, KARNATAKA, INDIA

-

6

90200339

28/01/1999

28,000,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, QUEENS ROAD, BANGALORE - 560001, KARNATAKA, INDIA

-

7

90088101

02/04/1998

80,000,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, NO.14, PUNE- MUMBAI ROAD, WAKDEWADI, PUNE - 411003, MAHARASHTRA, INDIA

-

8

90083937

26/04/2001 *

100,000,000.00

CANARA BANK

11, M. G. ROAD, PUNE - 411001, MAHARASHTRA, INDIA

-

 

* Date of charge modification

 

 

FIXED ASSETS:

 

·         Land

·         Office and Factory Building

·         Plant and Machinery

·         Furniture and Fittings

·         Office Equipments

·         Vehicle

·         Technical Know How

·         Brand Rhino

·         Brand Widia

·         Goodwill

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

UK Pound

1

Rs.100.07

Euro

1

Rs.77.95

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KRN

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

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

 

62

 

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

 

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.