1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ASP SEALING PRODUCTS LIMITED |
Principal Name 1 |
Mr. Rishipal Singh Anand |
|
Status |
Moderate |
Principal Name 2 |
Mr. Jatinder Kaur Anand |
|
|
|
Registration # |
55-036079 |
|
Street Address |
Anbros House, 25/31, East Patel Nagar, |
||
|
Date of Established |
01.05.1989 |
SIC Code |
-- |
|
Telephone# |
91-11-42370000-9 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-25787357 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
ethylene propylene diene monomer (EPDM) weather strips for automotive applications |
|
|
# of employees |
Not Divulged |
Product Name 2 |
PVC Profiles |
|
Paid up capital |
Rs. 96,487,000 /- |
Product Name 3 |
Industrial Hoses |
|
Shareholders |
Bodies corporate-23.80% Directors or
relatives of Directors- 71.72% Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others- 4.48% |
Banking |
HDFC Bank Limited, ICICI Bank Limited |
|
Public Limited Corp. |
Directors or relatives of Directors |
Business Period |
25 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (30) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
ASP Nanocepts Technologies Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
394,028,000 |
Current Liabilities |
323,924,000 |
|
Inventories |
130,698,000 |
Long-term Liabilities |
191,105,000 |
|
Fixed Assets |
256,154,000 |
Other Liabilities |
4,708,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
519,737,000 |
|
Invest& other Assets |
47,239,000 |
Retained Earnings |
210,405,000 |
|
|
|
Net Worth |
308,382,000 |
|
Total Assets |
828,119,000 |
Total Liab. & Equity |
828,119,000 |
|
Total Assets (Previous Year) |
708,629,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Total Income |
896,594,000 |
Net Profit |
19,032,000 |
|
Total Income (Previous yr) |
782,426,000 |
Net Profit(Prev.yr) |
47,482,000 |
MIRA INFORM REPORT
|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASP SEALING PRODUCTS LIMITED |
|
|
|
|
Registered
Office : |
Anbros House, 25/31, East Patel Nagar,
New Delhi - 110008 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.05.1989 |
|
|
|
|
Com. Reg. No.: |
55-036079 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 96.487 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93090DL1989PLC036079 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA12657B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA0381M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of ethylene propylene diene monomer (EPDM) weather strips
for automotive applications, primarily used in the commercial vehicles
segment. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There seems sharp dip in the profit during 2013, borrowings of the
company has also increased. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 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 (BB) |
|
Rating Explanation |
Moderate Risk of Default. |
|
Date |
25.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A4+) |
|
Rating Explanation |
Minimal Degree of Safety. It carry very High
Credit Risk |
|
Date |
25.02.2014 |
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-Cooperative (91-11-42370000)
LOCATIONS
|
Registered Office / Marketing and Corporate Office : |
Anbros House, 25/31, East Patel Nagar,
New Delhi - 110008, India |
|
Tel. No.: |
91-11-25729126 / 25817671 / 25787357 / 25765030 / 32903431 / 42370000 |
|
Fax No.: |
91-11-25787357 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
A-7, U.P.S.I.D.C., Industrial Area, Gajraula – 244223, |
|
Tel. No.: |
91-5924-252363/64/ 253002 |
|
Fax No.: |
91-5924-252362 |
|
|
|
|
Branch Office : |
B3-702, Swapna Nagri, Opp. Magai Stadium, Udyam Nagar, Pimpri, Pune –
411018, Maharashtra – India |
|
Tel. No.: |
91-20-27502225 |
|
|
|
|
Regional Offices : |
Suite No. 502 B, 5th Floor, Kamalaya Centre, 156A, Lenin Sarani, Kolkata – 700173, West Bengal, India Tel. : 91-33-22155409 E-mail : aspkolkata@vsnl.net
1, Vithal Sadan Extension, Congress House, Tel : 91-22-23870452 E-mail : aspwest@mtnl.net
91-B, Hardevi Chambers, Tel : 91-44-28228954 E-mail : aspsouth@airtelmail.in |
|
|
|
|
Factory 2 : |
Located At : Udham Singh Nagar, Uttarakhand, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rishipal Singh Anand |
|
Designation : |
Whole-time Director |
|
Address : |
H 5/2, |
|
Date of Birth/Age : |
06.03.1982 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
01411628 |
|
|
|
|
Name : |
Mr. Jatinder Kaur Anand |
|
Designation : |
Whole-time director |
|
Address : |
H 5/2, |
|
Date of Birth/Age : |
01.11.1961 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
01411543 |
|
|
|
|
Name : |
Mr. Gurdeep Singh Anand |
|
Designation : |
Managing Director |
|
Address : |
H 5/2, |
|
Date of Birth/Age : |
23.10.1958 |
|
Date of Appointment : |
01.10.2012 |
|
DIN No.: |
01517340 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Manish Kumar |
|
Designation : |
Secretary |
|
Address : |
A/523,Sector – 9, Ghaziabad -201009, Uttar Pradesh, India |
|
Date of Appointment : |
02.02.2011 |
|
PAN No.: |
BCXPM2232G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Gupta Singh Anand |
1111030 |
|
Rishipal Singh Anand |
960000 |
|
Jatinder Kaur Anand |
839159 |
|
Gurdeep Singh Anand HUF |
3087533 |
|
Jagratan Finvest Private Limited, India |
689500 |
|
Rishipal Investments and Finance Private
Limited, India |
432500 |
|
Bhupinder Holdings Private Limited, India |
122373 |
|
Gurcharan Singh Anand |
241053 |
|
Jagrattan Singh Anand |
922500 |
|
Kaufil Sealing Tech Company, Spain |
187101 |
|
ASP Thermoplastic Extrusion Private Limited, India |
104750 |
|
ASP Overseas Private Limited, India |
617500 |
|
ASP Rubber Private Limited, India |
333750 |
|
|
|
|
Total |
9648749 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
4.48 |
|
Bodies corporate |
23.80 |
|
Directors or relatives of Directors |
71.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of ethylene propylene diene monomer (EPDM) weather strips
for automotive applications, primarily used in the commercial vehicles
segment. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of ·
HDFC Bank Limited ·
ICICI Bank Limited ·
Jammu and Kashmir Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Financial Institution : |
The Pradeshiya Industrial and Investment Corporation of UP Limited,
Gomti Nagar, |
|
|
|
|
Auditors : |
|
|
Name : |
Harvinder Arora and Associates Chartered Accountant |
|
Address: |
E-63, First Floor, Guru Nanak Pura, Jail Road, New Delhi-110018, |
|
Tel. No.: |
91-11-65162993 / 41004195 |
|
Mobile No.: |
91-9811244581 |
|
Email : |
|
|
PAN No. : |
ADPPA0892A |
|
|
|
|
Entities under Common control: |
·
ASP Nanocepts Technologies Private Limited ·
ASP Overseas Private Limited ·
ASP Builtech Private Limited ·
ASP Thermoplastic extrusion Private Limited ·
ASP Rubber Private Limited ·
Rishipal Investments and Finance Private Limited ·
Jagratan Finvest Private Limited ·
ASP Kaufil India Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10200000 |
Equity Shares |
Rs.10/- each |
Rs. 102.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9648749 |
Equity Shares |
Rs.10/- each |
Rs. 96.487 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 |
96.487 |
89.086 |
89.086 |
|
(b) Reserves & Surplus |
210.405 |
140.085 |
92.913 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
1.490 |
35.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
308.382 |
264.171 |
181.999 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
137.078 |
108.047 |
63.612 |
|
(b) Deferred tax liabilities (Net) |
16.134 |
13.030 |
10.868 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
46.976 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
153.212 |
121.077 |
121.456 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
54.027 |
25.111 |
79.103 |
|
(b) Trade payables |
115.283 |
144.163 |
67.059 |
|
(c) Other current
liabilities |
192.507 |
150.557 |
53.685 |
|
(d) Short-term provisions |
4.708 |
3.550 |
3.030 |
|
Total Current Liabilities (4) |
366.525 |
323.381 |
202.877 |
|
|
|
|
|
|
TOTAL |
828.119 |
708.629 |
506.332 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
256.154 |
199.711 |
182.366 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
16.002 |
14.010 |
10.129 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
31.237 |
24.703 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
7.494 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
303.393 |
238.424 |
199.989 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
130.698 |
133.976 |
80.562 |
|
(c) Trade receivables |
235.426 |
225.187 |
176.920 |
|
(d) Cash and cash
equivalents |
30.770 |
17.734 |
5.654 |
|
(e) Short-term loans and
advances |
120.261 |
85.356 |
0.000 |
|
(f) Other current assets |
7.571 |
7.952 |
43.207 |
|
Total Current Assets |
524.726 |
470.205 |
306.343 |
|
|
|
|
|
|
TOTAL |
828.119 |
708.629 |
506.332 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
894.594 |
782.426 |
601.549 |
|
|
Other Income |
1.513 |
2.482 |
1.244 |
|
|
TOTAL
(A) |
896.107 |
784.908 |
602.793 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
599.152 |
558.341 |
377.840 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
3.278 |
-53.414 |
0.000 |
|
|
Employees benefits expense |
79.575 |
58.127 |
41.952 |
|
|
Other expenditure |
124.862 |
109.862 |
85.199 |
|
|
TOTAL
(B) |
806.867 |
672.916 |
504.991 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
89.240 |
111.992 |
97.802 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.664 |
28.461 |
22.747 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
56.576 |
83.531 |
75.055 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
33.151 |
30.256 |
27.924 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
23.425 |
53.275 |
47.131 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
4.393 |
5.793 |
13.394 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
19.032 |
47.482 |
33.737 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.97 |
5.33 |
3.79 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
2.12 |
6.05 |
5.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.62 |
6.81 |
7.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.00 |
7.95 |
9.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.20 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62 |
0.50 |
0.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.45 |
1.51 |
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 |
89.086 |
89.086 |
96.487 |
|
Reserves & Surplus |
92.913 |
140.085 |
210.405 |
|
Share Application money
pending allotment |
0.000 |
35.000 |
1.490 |
|
Net
worth |
181.999 |
264.171 |
308.382 |
|
|
|
|
|
|
long-term borrowings |
63.612 |
108.047 |
137.078 |
|
Short term borrowings |
79.103 |
25.111 |
54.027 |
|
Total
borrowings |
142.715 |
133.158 |
191.105 |
|
Debt/Equity
ratio |
0.784 |
0.504 |
0.620 |
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) |
|
Revenue from operations |
601.549 |
782.426 |
894.594 |
|
|
|
30.069 |
14.336 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
601.549 |
782.426 |
894.594 |
|
Profit/(Loss) After Tax |
33.737 |
47.482 |
19.032 |
|
|
5.61% |
6.07% |
2.13% |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advances from directors |
1.581 |
2.292 |
|
Loans and Advances from others |
3.075 |
4.395 |
|
Other Loans and Advances |
16.336 |
23.131 |
|
Total |
20.992 |
29.818 |
PERFORMANCE OF THE
COMPANY:
Summary of the financial results is as under:- (Rupees in Millions) Particulars Current Year 2013 Previous Year 2012 Sales 981.233 849.836 Other Income 2.290, 4.316 Cost of Material Consumed 6.318, 504.926 Depreciation33.115, 27.419 Profit Before Extraordinary Items and Tax 23.425 53.275 Profit/Loss after Taxation 19.031, 47.482.
OPERATING RESULTS AND
PROFITS
The Indian economy bounced back quickly and strongly growing at 06.65% in 2012-13. The automotive sector in India started the year steadily, gathered momentum in different segments in the second half of the year and ended the year with a record growth and performance. The Company’s turnover, in this background in commercial vehicles was Rs. 981.233 Millions, a growth of 15.46% over the previous year. The volume growth coupled with other actions on pricing and cost reduction enabled the Company to achieve significant improvement in its profitability. The Profit Before Tax of Rs. 23.425 Millions and Profit After Tax of Rs. 19.031 Millions.
CURRENT SCENARIO AND
FUTURE PLANS:
INDUSTRY OUTLOOK
Riding on the back of economic growth, easy availability of finance, fiscal stimulus measures and launch of new models, the domestic auto industry recorded a growth of 15.46 % in 2012-13. The vehicle industry expects the growth in automobile sector to continue, fuelled by rising disposable incomes, Global automakers are expected to continue their investment into India, growing auto manufacturing first and later auto engineering and R & D Services.
The outlook for the auto ancillary industry appears healthy. The demand from the export markets however remains weak because of the conditions prevailing in the target markets.
FUTURE PROJECT OF THE
COMPANY
Looking at their outstanding performance, vehicle manufacturers have shown keen interest in our company and have allotted us new projects which will boost our sale in the coming years.
Being the single source of supplier for the new projects we have to meet customer expectations in term of giving them quality product and timely supplies.
FUTURE PLAN OF ACTION
* Work closely with customers to understand the requirements in terms of features and reliability for a complete product solution.
* Nurture and Promote indigenous technology.
* Focus on new technology products.
* Reduce time to market the product.
* Achieve price competitiveness with desired profit margin through target pricing.
* Focus on capture the business from government sector.
INDEX OF CHARGES
|
S.No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10096410 |
01/03/2012
* |
47,632,313.22 |
PRADESHIYA
INDUSTRIAL & INVESTMENT CORPORATION OF |
PICUP
BHAWAN, GOMTI NAGAR, LUCKNOW, Uttar Pradesh |
B36361319 |
|
2 |
90040843 |
27/01/1993
* |
9,000,000.00 |
THE
PRADESHIYA INDUSTRIAL & INVESTMENT CORP. OF U. |
MOTI
MAHAL, 2-RANA PRATAP MARG, LUCKNOW, Uttar Pr |
- |
|
3 |
90040761 |
29/05/2014
* |
326,200,000.00 |
STATE
BANK OF INDIA |
SPECIAL
COMMERCIAL BRANCH, CIVIL LINES, MORADABAD |
C14876908 |
|
4 |
90040702 |
23/10/1990
* |
4,500,000.00 |
THE
PRADESHIYA INDUSTRIAL & INVESTMENT CORP. OF U. |
MOTI
MAHAL, 2-RANA PRATAP MARG, LUCKNOW, Uttar Pr |
- |
|
5 |
90040696 |
06/03/1990 |
4,100,000.00 |
STATE
BANK OF INDIA |
RUDRAPUR
BRANCH, NAINITAL, Uttar Pradesh, INDIA |
- |
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 : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.