MIRA INFORM REPORT
|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
KALYANI CARPENTER SPECIAL STEELS LIMITED |
|
|
|
|
Registered
Office : |
72-76, Mundhwa, Pune – 411036, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.07.1998 |
|
|
|
|
Com. Reg. No.: |
11-012724 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 300.420
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27105PN1998PLC012724 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK05230B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCK1779L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Speciality and Alloy Steel. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. There seems some dip in the turnover and profit during 2013 however,
net worth of the company is satisfactory. General financial position of the
company is sound. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
ICRA |
|
Rating |
Long term loan (A+) |
|
Rating Explanation |
Adequate degree of safety it carry low
credit risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limit (A1+) |
|
Rating Explanation |
Highest degree of safety it carry lowest
credit risk. |
|
Date |
January 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. Kiran Joshi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-66215141 |
|
Date : |
14.10.2014 |
LOCATIONS
|
Registered/ Head Office : |
72-76, Mundhwa, Pune – 411036, Maharashtra, India |
|
Tel. No.: |
91-20-66215141/ 66215000 |
|
Fax No.: |
91-20-26824483/ 26824498 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales & Marketing Office 1 : |
Plot No. 8-D, Door No. 5, 1st Floor, Balamurugan Nagar, Chitrai
Veedhi, Alappakkam, Porur, Chennai – 600115, Tamilnadu, India |
|
Tel. No.: |
91-44-24760493 |
|
Fax No.: |
91-44-24760493 |
|
E-Mail : |
|
|
|
|
|
Sales & Marketing Office 2 : |
Antriksh Bhavan, 14th Floor, 22, K.G. Marg, New Delhi –
110001, India |
|
Tel. No.: |
91-11-23730812 |
|
Fax No.: |
91-11-23357083 |
|
E-Mail : |
DIRECTORS
AS ON 31.07.2013
|
Name : |
Mr. Babasaheb Neelkanth Kalyani |
|
Designation : |
Whole-time director |
|
Address : |
Amit, 221/A, Kalyaninagar, Yerawada, Pune – 411006, Maharashtra |
|
Date of Birth/Age : |
07.01.1949 |
|
Date of Appointment : |
02.08.1999 |
|
PAN No.: |
ABIPK5782A |
|
DIN No.: |
00089380 |
|
|
|
|
Name : |
Mr. Sunil Yograj Widge |
|
Designation : |
Director |
|
Address : |
97, Fredericks Ville Road, Mertztown U.S. 19539 |
|
Date of Birth/Age : |
18.09.1949 |
|
Date of Appointment : |
15.02.2008 |
|
DIN No.: |
01056289 |
|
|
|
|
Name : |
Mr. Ravindra Kumar Goyal |
|
Designation : |
Director |
|
Address : |
B4/140, First Floor, Safdarjung Enclave, New Delhi, 110029, India |
|
Date of Birth/Age : |
18.05.1958 |
|
Date of Appointment : |
22.09.2011 |
|
DIN No.: |
03050193 |
|
|
|
|
Name : |
Mr. Michael Hajost |
|
Designation : |
Director |
|
Address : |
1940, Meadow lane, Wyomissing, PA U.S. 19610 |
|
Date of Birth/Age : |
28.08.1963 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
05327255 |
|
|
|
|
Name : |
Mr. Amit Kalyani |
|
Designation : |
Additional director |
|
Address : |
Amit, 221/A, Kalyaninagar, Yerawada, Pune – 411006, Maharashtra |
|
Date of Birth/Age : |
26.07.1975 |
|
Date of Appointment : |
19.08.2013 |
|
DIN No.: |
00089430 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Shamrao Jagtap |
|
Designation : |
Secretary |
|
Address : |
Tower No 7, Apartment No.1603, Amanora Park Town, Hadapsar, Pune – 411028, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1960 |
|
Date of Appointment : |
26.06.2013 |
|
PAN No.: |
AAUPJ1259N |
|
|
|
|
Name : |
Mr. Kiran Joshi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Carpenter Technology Mauritius Limited, Mauritius |
|
7810910 |
|
KSL Holdings Private Limited, India |
|
22230548 |
|
BF Investment Limited, India |
|
500 |
|
C.G. Patankar [Nominee of KSL Holdings Private Limited, India] |
|
1 |
|
B.B. Hattarki [Nominee of KSL Holdings Private Limited, India] |
|
1 |
|
D.R. Puranik [Nominee of KSL Holdings Private Limited, India] |
|
1 |
|
Anand Shirsat [Nominee of KSL Holdings Private Limited, India] |
|
1 |
|
|
|
|
|
Total |
|
30041962 |
AS ON 31.07.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
26.00 |
|
Bodies
corporate |
74.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Speciality and Alloy Steel. |
||||
|
|
|
||||
|
Products/ Services : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Cheque |
||||
|
|
|
||||
|
Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
|
Customers : |
· Bharat Forge · Tata Motors · Ashok Leyland · Rane Engines Valves · Cummins · EATON Corporation · Sundaram Fastners Limited · Shriram Pistons & Rings · Siemens · Toyota Motors · Nuclear Power Corpn. of India Limited · Mahidra Forge · L&T · AUDCO · Weather Ford ·
Vikram Sarabhai Space Centre |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
800 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Bank of Baroda Corporate Financial Services Branch, Mantri Court, 39 Ambedkar Road, Pune - 411001, Maharashtra, India · Bank of Maharashtra "Yashomangal" 1183/A, 1183/A, F.C. Road, Pune - 411005, Maharashtra, India · Canara Bank Prime Corporate Branch, M.G. Road, Red Cross Building,
Camp, Pune - 411001, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.G. Bhagwat Chartered Accountants |
|
Address : |
Suite No 101-102, Orchard, Dr. Pai Marg, Baner, Pune – 411045,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB0762E |
|
|
|
|
Holding company : |
KSL Holdings Private Limited [U65993PN2001PTC015938] |
|
|
|
|
Ultimate Holding
company : |
Carpenter Technology Mauritius Limited |
|
|
|
|
Other Related Parties : |
· Bharat Forge Limited [L25209PN1961PLC012046] · Kalyani Steels Limited [L27104MH1973PLC016350] · BF Investment Limited [L65993PN2009PLC134021] · Shalmet Corporation ·
Carpenter Technology Corporation |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,041,962 |
Equity Shares |
Rs. 10/- each |
Rs. 300.420
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 |
300.420 |
300.420 |
300.420 |
|
(b) Reserves & Surplus |
1577.408 |
1467.825 |
1209.743 |
|
(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) |
1877.828 |
1768.245 |
1510.163 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
504.461 |
163.633 |
320.445 |
|
(b) Deferred tax liabilities (Net) |
323.282 |
244.943 |
192.092 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
22.534 |
34.960 |
20.549 |
|
Total
Non-current Liabilities (3) |
850.277 |
443.536 |
533.086 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1132.901 |
859.364 |
617.107 |
|
(b)
Trade payables |
1405.330 |
1848.360 |
1256.121 |
|
(c)
Other current liabilities |
489.436 |
686.882 |
722.808 |
|
(d)
Short-term provisions |
131.602 |
168.405 |
148.777 |
|
Total
Current Liabilities (4) |
3159.269 |
3563.011 |
2744.813 |
|
|
|
|
|
|
TOTAL |
5887.374 |
5774.792 |
4788.062 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2233.201 |
2061.931 |
1494.297 |
|
(ii)
Intangible Assets |
46.059 |
22.688 |
36.133 |
|
(iii)
Capital work-in-progress |
111.331 |
155.814 |
18.548 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
73.922 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
48.212 |
25.058 |
24.937 |
|
(e)
Other Non-current assets |
3.199 |
21.274 |
47.832 |
|
Total
Non-Current Assets |
2442.002 |
2360.687 |
1621.747 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
73.922 |
0.000 |
0.000 |
|
(b)
Inventories |
1263.883 |
836.577 |
850.406 |
|
(c)
Trade receivables |
1682.198 |
2194.848 |
2161.710 |
|
(d)
Cash and cash equivalents |
67.654 |
88.516 |
30.337 |
|
(e)
Short-term loans and advances |
333.718 |
264.864 |
94.412 |
|
(f)
Other current assets |
23.997 |
29.300 |
29.450 |
|
Total
Current Assets |
3445.372 |
3414.105 |
3166.315 |
|
|
|
|
|
|
TOTAL |
5887.374 |
5774.792 |
4788.062 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
11253.245 |
12520.289 |
9896.980 |
|
|
|
Other Income |
15.281 |
29.834 |
14.310 |
|
|
|
TOTAL (A) |
11268.526 |
12550.123 |
9911.290 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6926.676 |
7641.901 |
6184.386 |
|
|
|
Purchases of stock-in-trade |
68.616 |
216.578 |
7.311 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(265.939) |
(142.431) |
(220.192) |
|
|
|
Employee benefit expense |
521.904 |
507.791 |
379.337 |
|
|
|
Other expenses |
3301.133 |
3350.502 |
2656.045 |
|
|
|
TOTAL (B) |
10552.390 |
11574.341 |
9006.887 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
716.136 |
975.782 |
904.403 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
240.880 |
231.217 |
217.364 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
475.256 |
744.565 |
687.039 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
230.832 |
192.453 |
159.554 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
244.424 |
552.112 |
527.485 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
82.119 |
189.283 |
166.546 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
162.305 |
362.829 |
360.939 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
1211.836 |
436.653 |
|
|
|
Capital Goods |
|
51.208 |
13.016 |
|
|
TOTAL IMPORTS |
NA
|
1263.044 |
449.669 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.40 |
12.08 |
12.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.44
|
2.89 |
3.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.17
|
4.41 |
5.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.23
|
9.96 |
11.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.31 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.87
|
0.58 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
0.96 |
1.15 |
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 |
300.420 |
300.420 |
300.420 |
|
Reserves & Surplus |
1209.743 |
1467.825 |
1577.408 |
|
Net
worth |
1510.163 |
1768.245 |
1877.828 |
|
|
|
|
|
|
long-term borrowings |
320.445 |
163.633 |
504.461 |
|
Short term borrowings |
617.107 |
859.364 |
1132.901 |
|
Total
borrowings |
937.552 |
1022.997 |
1637.362 |
|
Debt/Equity
ratio |
0.621 |
0.579 |
0.872 |
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 |
9896.980 |
12520.289 |
11253.245 |
|
|
|
26.506 |
(10.120) |
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 |
9896.980 |
12520.289 |
11253.245 |
|
Profit |
360.939 |
362.829 |
162.305 |
|
|
3.65% |
2.90% |
1.44% |
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 |
0.337 |
324.471 |
131.766
|
|
|
|
|
|
|
Total |
0.337 |
324.471 |
131.766
|
|
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10391898 |
29/10/2012 |
625,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, MANTRI COURT, 39 AMBEDKAR ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
B64106263 |
|
2 |
10368299 |
11/07/2012 |
1,600,000,000.00 |
BANK OF MAHARASHTRA |
"YASHOMANGAL" 1183/A, 1183/A, F.C. ROAD, PUNE - 411005, MAHARASHTRA, INDIA |
B44793735 |
|
3 |
90085908 |
21/07/2012 * |
3,350,000,000.00 |
BANK OF BARODA-LEAD BANK |
CORPORATE FINANCIAL SERVICES BRANCH, MANTRI COURT, 39 AMBEDKAR ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
B55820294 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred payment Indian sources |
5.039 |
9.373 |
|
SHORT TERM BORROWINGS |
|
|
|
Term loans from banks |
605.924 |
304.179 |
|
Intercorporate deposits |
74.000 |
74.000 |
|
|
|
|
|
Total |
684.963 |
387.552 |
THE YEAR
Due to adverse
market conditions during the financial year 2012-13, , turnover of the Company
in value terms decreased by 11% as compared to previous year. Depressed market
conditions both in the Domestic and International market during second half of
the year resulted in a fall in business volume. The major segments in the
domestic market such as Auto, Engineering and Projects saw sharp fall in demand
mainly due to the following:
· Fall in Global
demand
· Stalled / delayed
projects in Government sectors
· Inflationary
trend in Indian Economy
Non group business
grew by 10% during the year in spite of overall depressed market conditions due
to focused pursuit of High Value Business. Major achievements were as follows:
· New business
developed mainly in Engineering, Oil and Gas sectors for Q & T Products.
· Resumed Exports
after gap of five years.
· Approvals from
all units of BHEL including for Turbine and Blade material.
· Approvals from
Global Industry Majors like ALSTOM, SKODA, HALLIBURTON, BAKER HUGHES and Atlas
CAPCO.
FIXED ASSETS:
· Land
· Buildings
· Office building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
·
Know-how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.