MIRA
INFORM REPORT
|
Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
OMR BAGLA AUTOMOTIVE SYSTEMS INDIA LIMITED (w.e.f. 19.12.2007) |
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Formerly Known
As : |
ASSOCIATED BRAKES LIMITED |
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Registered
Office : |
Plot No.B-7, MIDC Chakan, Village Mahalunge, Taluka – Khed, Pune – 410
501, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.08.2006 |
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Com. Reg. No.: |
11-128851 |
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Capital
Investment / Paid-up Capital : |
Rs.55.350 millions |
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CIN No.: [Company Identification
No.] |
U31904PN2006PLC128851 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA08575A |
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PAN No.: [Permanent Account No.] |
AAFCA8402N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of alluminium die cast parts for automobiles and other applications. |
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No. of Employees
: |
225 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 satisfactory track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered 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
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: BBB |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
07.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
07.08.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Aniket Ashokrao Kulkarni |
|
Designation : |
Secretary |
|
Contact No.: |
91-2431-329457 |
|
Date : |
04.10.2014 |
LOCATIONS
|
Registered Office : |
Plot No.B-7, MIDC Chakan, Village Mahalunge, Taluka – Khed, Pune – 410
501, |
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Tel. No.: |
91-2431-329457 |
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Mobile No.: |
91-2431-329458 |
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E-Mail : |
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Website : |
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Factory : |
Gut No.217, Village Chitegaon, |
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Tel. No.: |
91-2431-251789/ 329457/ 329458 |
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Fax No.: |
91-2431-251789 |
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E-Mail : |
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Area : |
10 Acre |
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Location : |
Owned |
DIRECTORS
As on 24.09.2013
|
Name : |
Mr. Rishi Kumar Rajnarayan Bagla |
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Designation : |
Managing Director |
|
Address : |
Gut No.40, Golwadi, |
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Date of Birth/Age : |
02.08.1959 |
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Qualification : |
B.Com |
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Date of Appointment : |
04.08.2006 |
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DIN No.: |
00002020 |
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Name : |
Mrs. Mamta Bagla |
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Designation : |
Director |
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Address : |
Gut No.40, Golwadi, |
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Date of Birth/Age : |
12.07.1963 |
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Qualification : |
Matriculation |
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Date of Appointment : |
20.09.2010 |
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DIN No.: |
00002031 |
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Name : |
Mr. Muneesh Chawla |
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Designation : |
Director |
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Address : |
A/303, IVY B-A Sushant Lok, Phase – I, Gurgaon – 122002, Haryana,
India |
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Date of Birth/Age : |
05.01.1967 |
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Qualification : |
B. Tech. M.B.A |
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Date of Appointment : |
04.08.2006 |
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DIN No.: |
00069360 |
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Name : |
Mr. Marco Bonometti |
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Designation : |
Managing Director |
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Address : |
Via Nino Bixio No.8, Rezzato, |
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Date of Birth/Age : |
06.09.1954 |
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Qualification : |
Degree on |
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Date of Appointment : |
17.11.2007 |
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DIN No.: |
01914783 |
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Name : |
Mr. Francesco Bonometti |
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Designation : |
Director |
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Address : |
Via Gaetano, Donizetti No.6, Rezzato, |
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Date of Birth/Age : |
26.02.1956 |
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Qualification : |
Secondary School specializing in Scientific Subjects |
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Date of Appointment : |
17.11.2007 |
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DIN No.: |
01914784 |
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Name : |
Mr. Stefano Allocchio |
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Designation : |
Director |
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Address : |
Via Giovanni, Bertacchi No.1, Rezzato, |
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Date of Birth/Age : |
24.03.1961 |
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Qualification : |
Degree on |
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Date of Appointment : |
17.11.2007 |
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DIN No.: |
01914787 |
KEY EXECUTIVES
|
Name : |
Mr. Aniket Ashokrao Kulkarni |
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Designation : |
Secretary |
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Address : |
Shalaka, Plot No.30, Behind Tandoor Hotel, Bansilal Nagar, |
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Date of Birth/Age : |
08.06.1982 |
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Date of Appointment : |
10.08.2009 |
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PAN No.: |
AQTPK6869J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Aurangabad Electricals Limited, |
|
2767440 |
|
OMR Holding SPA, |
|
2767500 |
|
Aurangabad Electricals Limited Jointly with Rishi Kumar Bagla |
|
20 |
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Aurangabad Electricals Limited Jointly with Mamta Bagla |
|
10 |
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Aurangabad Electricals Limited Jointly with Neha Bagla |
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10 |
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Aurangabad Electricals Limited Jointly with Devanshi Bagla |
|
10 |
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Aurangabad Electricals Limited Jointly with Mr. Praveen Tulshan |
|
10 |
|
Total |
|
5535000 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of alluminium die cast parts for automobiles and other applications. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Italy ·
USA ·
Canada |
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Imports : |
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Products : |
Engine transmission parts of truck |
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Countries : |
Italy |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
2010-11 Qty |
|
Licensed Capacity |
|
* |
|
Installed Capacity |
MT |
12 MT / Day (**) |
* As per the
Industrial Policy Notification No. S.O./477(E) dated July 25, 1991 issued by
the Government of India, Ministry of Industry, Department of Industrial Development,
the manufacture of products of the Company are exempt from industrial
licensing.
** As
certified by the management and have not been verified by the auditors, being a
technical matter.
|
Particulars |
Unit |
Actual
Production |
|
Aluminum Die Casting Products |
Nos. |
1807621 |
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GENERAL INFORMATION
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Customers : |
·
Retailers ·
End Users |
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No. of Employees : |
225 (Approximately) |
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Bankers : |
The Saraswat Co-Operative Bank Limited, Gajanan Maharaj Mandir Branch,
Garkheda Parisar, |
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Facilities : |
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Banking Relations
: |
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Auditors : |
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Name : |
Price Waterhouse and company Chartered Accountants |
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Address : |
I-501 Ruturang, Phase 2, Pune Satara Road, Near City Pride Theatre, Pune – 411009, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
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Ventures in respect
of which the reporting enterprise is a joint venture: |
· OMR Holding SpA · Aurangabad Electricals Limited |
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Subsidiary of
Venturers: |
· Officine Meccaniche Rezzatesi Srl |
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Enterprise over
which any person described below is able to exercise significant
influence: |
· Aurangabad Motor Manufacturers Limited, India [U31909PN1985PLC037539] · OMR Componentes Automotives Ltda |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/-each |
Rs.70.000 millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5535000 |
Equity Shares |
Rs.10/-each |
Rs.55.350 millions |
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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 |
55.350 |
55.350 |
55.350 |
|
(b) Reserves & Surplus |
494.694 |
458.204 |
416.577 |
|
(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) |
550.044 |
513.554 |
471.927 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
44.942 |
0.000 |
69.429 |
|
(b) Deferred tax liabilities
(Net) |
30.704 |
13.613 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
29.197 |
0.000 |
|
(d) long-term provisions |
1.323 |
1.017 |
0.779 |
|
Total
Non-current Liabilities (3) |
76.969 |
43.827 |
70.208 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
122.851 |
101.169 |
79.154 |
|
(b) Trade payables |
179.827 |
137.805 |
148.601 |
|
(c) Other current liabilities |
70.684 |
131.211 |
139.782 |
|
(d) Short-term provisions |
1.739 |
1.005 |
0.432 |
|
Total
Current Liabilities (4) |
375.101 |
371.190 |
367.969 |
|
|
|
|
|
|
TOTAL |
1002.114 |
928.571 |
910.104 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
578.997 |
562.666 |
603.129 |
|
(ii) Intangible Assets |
1.467 |
2.255 |
0.099 |
|
(iii) Capital work-in-progress |
0.000 |
68.259 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.330 |
9.870 |
9.751 |
|
(e) Other Non-current assets |
0.000 |
4.916 |
0.397 |
|
Total
Non-Current Assets |
597.819 |
647.991 |
613.401 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
184.016 |
125.113 |
132.131 |
|
(c) Trade receivables |
164.462 |
136.818 |
134.150 |
|
(d) Cash and cash equivalents |
13.531 |
7.859 |
7.923 |
|
(e) Short-term loans and
advances |
40.285 |
44.963 |
21.504 |
|
(f) Other current assets |
2.001 |
1.827 |
0.995 |
|
Total
Current Assets |
404.295 |
316.580 |
296.703 |
|
|
|
|
|
|
TOTAL |
1002.114 |
964.571 |
910.104 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
884.380 |
805.666 |
620.570 |
|
|
Other Income |
13.015 |
3.470 |
4.368 |
|
|
TOTAL
(A) |
897.395 |
809.136 |
624.938 |
|
|
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|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
417.758 |
349.404 |
265.032 |
|
|
Purchases of Stock-in-Trade |
43.436 |
38.788 |
39.455 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(52.671) |
16.123 |
(42.624) |
|
|
Employees benefits expense |
75.538 |
61.058 |
57.234 |
|
|
Other expenses |
263.136 |
209.331 |
181.950 |
|
|
TOTAL
(B) |
747.197 |
674.704 |
501.047 |
|
|
|
|
|
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|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
150.198 |
134.432 |
123.891 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.370 |
20.299 |
25.198 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
136.828 |
114.133 |
98.693 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
90.450 |
86.836 |
85.823 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
46.378 |
27.297 |
12.870 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
17.077 |
13.623 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
29.301 |
13.674 |
12.870 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(10.049) |
(23.723) |
(36.593) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
19.252 |
(10.049) |
(23.723) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
5.29 |
2.47 |
2.33 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
950.000 |
The above information has been parted by Mr. Aniket Ashokrao Kulkarni
(Secretary)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.27 |
1.69 |
2.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.24 |
3.39 |
2.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.63 |
3.05 |
1.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.05 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31 |
0.20 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
0.85 |
0.81 |
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 |
55.350 |
55.350 |
55.350 |
|
Reserves & Surplus |
416.577 |
458.204 |
494.694 |
|
Net
worth |
471.927 |
513.554 |
550.044 |
|
|
|
|
|
|
long-term borrowings |
69.429 |
0.000 |
44.942 |
|
Short term borrowings |
79.154 |
101.169 |
122.851 |
|
Total
borrowings |
148.583 |
101.169 |
167.793 |
|
Debt/Equity
ratio |
0.315 |
0.197 |
0.305 |
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 |
620.570 |
805.666 |
884.380 |
|
|
|
29.827 |
9.770 |
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 |
620.570 |
805.666 |
884.380 |
|
Profit |
12.870 |
13.674 |
29.301 |
|
|
2.07% |
1.70% |
3.31% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
0.000 |
69.429 |
83.340
|
|
|
|
|
|
|
Total |
0.000 |
69.429 |
83.340
|
|
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
four 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 |
-- |
|
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 |
FINANCIAL HIGHLIGHTS:
Despite of the downward trend in economic developments of the country, and negative sentiment in macro-economic, during the financial year ended March 31, 2013, the Company has recorded Total Net Income of Rs. 897.300 Millions as against Rs. 809.100 Millions of previous year, an incremental growth of 11% over previous year. Numerous improvements in operational efficiencies of Company enabled us to record higher PBT of Rs. 46.378 Millions as against Rs. 27.297 Millions during the last period. This 70 % growth of PBT is outcome of their relentless efforts to meet customer requirements, quality and new products development.
BUSINESS EXCELLENCE
AND IMPROVEMENT INITIATIVES
The Company has been using the philosophies of Total Productivity Management (TPM) for the operational excellence. The Company is also taking steps to put in place best-in-class practices for safety, pollution control, work environment, water and energy conservation. Achieving customer delight by consistently providing products of excellent quality is the prime motto of the Company. Poka-yokes, process audits, utilization of statistical tools for process optimization and online process controls also contribute towards improving and achieving consistency in product quality. The plant quality system is certified for ISO/ TS 16949 requirements.
GENERAL INFORMATION:
Subject is engaged in the business of manufacturing of alluminium die cast parts for automobiles and other applications. The Company has its manufacturing facility at Aurangabad, Maharashtra (India) and sells primarily in India, Europe and the USA.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10320640 |
17/11/2011 |
90,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
GAJANAN MAHARAJ MANDIR BRANCH, GARKHEDA PARISAR, AURANGABAD, MAHARASHTRA - 431001, INDIA |
B26609362 |
|
2 |
10140126 |
22/01/2009 |
50,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
GAJANAN MAHARAJ MANDIR BRANCH, GARKHEDA, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A55719199 |
|
3 |
10126746 |
23/10/2008 |
150,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
GAJANAN MAHARAJ MANDIR BRANCH, GARKHEDA, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A49373251 |
|
4 |
10172098 |
19/06/2008 |
100,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
GAJANAN MAHARAJ MANDIR BRANCH, GARKHEDA, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A50355114 |
|
5 |
10105724 |
18/02/2008 |
140,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
GAJANAN MAHARAJ MANDIR BRANCH, GARKHEDA, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A39093653 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
|
|
|
Claims against company not acknowledged as debts: |
|
|
Stamp Duty Matter |
19.593 |
|
Income tax Matter (excluding interest and penalty, if any) |
22.000 |
|
Excise Matters |
30.240 |
|
Customs Duty Matter The Company imports capital goods, raw material and other items from Officine Meccaniche Rezzatesi Srl, Italy, which is related to the Company. As required by the Customs Valuation Rules, the Company has not made an application for reference of these imports to the Special Valuation Branch of Customs House to determine the arm's length pricing as per the Customs Valuation Rules. The Company has filed a suo moto application for the same. However, the ultimately liability including interest and penalty, if any, would be determined only upon the completion of the said assessment and is currently not ascertainable. |
|
|
Total |
71.833 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
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 : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.