MIRA INFORM REPORT
|
Report Date : |
18.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BUNDY INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
BUNDY TUBING OF INDIA LIMITED |
|
|
|
|
Registered
Office : |
No. 2, G.I.D.C. Industrial Estate, Makarpura, Vadodara – 390010,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
01.05.1996 |
|
|
|
|
Com. Reg. No.: |
04-029520 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.100.464
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199GJ1996PLC029520 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDB00700A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB3039M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automotive Components, Tubes and Fuel Handling
Products. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of TI Automotive Holdings Limited, UK. It is
an established company having satisfactory track record. The management has failed to file its financial records with
government department for the year 2013. As per previous financial record of 2012, the company incurred losses
from its operational activities. However, the rating takes into consideration financial and managerial
support that company receives from parent company and sound liquidity profile
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong support from parent company, 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
slowly 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 |
CARE |
|
Rating |
Long Term Bank Facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
10.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
10.03.2014 |
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 (Tel No.: 91-265-2642621)
LOCATIONS
|
Registered Office : |
No. 2, G.I.D.C. Industrial Estate, Makarpura, Vadodara – 390010,
Gujarat, India |
|
Tel. No.: |
91-265-2642621/ 2643861/ 2643862 |
|
Fax No.: |
91-265-2638364 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq. Mtrs. |
|
Location : |
Owned |
|
|
|
|
Plant : |
Gat. No. 611/1, Village Kuruli, Taluka Khed, Chakan Pune – 410501,
Maharashtra, India |
|
Tel. No.: |
91-265-263910 |
|
|
|
|
Factory 1 : |
No.13C, 6th Main 3rd Phase, Peenya Industrial Area,
Bangalore – 560058, Karnataka, India |
|
Location : |
Rented |
|
|
|
|
Factory 2 : |
Plot No. 39 and 40, Sector No. 3, Ch. Devilal IMT, Manesar, Gurgaon –
122050, Haryana, India |
|
Tel. No.: |
91-124-2842701/ 2842809 |
|
Fax No.: |
91-124-2842801 |
|
Location : |
Owned |
DIRECTORS
As on 28.06.2012
|
Name : |
Mr. Ravibabu Turlapati |
|
Designation : |
Managing director |
|
Address : |
323-B, Hamilton Court, DLF Phase –IV, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
30.03.1959 |
|
Qualification : |
CA/ CS |
|
Date of Appointment : |
01.07.2003 |
|
PAN No.: |
AAVPT1123A |
|
DIN No.: |
00302698 |
|
|
|
|
Name : |
Mr. Akhilesh Rai |
|
Designation : |
Chairman |
|
Address : |
1/18, Veeram Khand, Gomti Nagar, Lucknow – 226010, Uttar Pradesh,
India |
|
Date of Birth/Age : |
28.07.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.02.1997 |
|
DIN No.: |
00317330 |
|
|
|
|
Name : |
Mr. Ravi Kant Sharma |
|
Designation : |
Whole-time director |
|
Address : |
801, Block -14, Heritage City, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
20.05.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.01.2005 |
|
PAN No.: |
ACMPS0766R |
|
DIN No.: |
00335648 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Sharma |
|
Designation : |
Secretary |
|
Address : |
B-86, Ashok Vihar, Phase-I, Delhi – 110052, India |
|
Date of Birth/Age : |
28.07.1963 |
|
Date of Appointment : |
17.06.2009 |
|
PAN No.: |
ADFPS3888Q |
|
|
|
|
Name : |
Mr. Anand Jain |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 28.06.2012
SHAREHOLDER
DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 28.06.2012
|
Category |
Percentage |
|
Nationalized of
other banks |
0.01 |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
96.90 |
|
Bodies corporate |
0.05 |
|
Others |
3.04 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Components, Tubes and Fuel Handling
Products. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
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|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor, Suite No. 8, Yerwada, Pune, Maharashtra,
India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
·
Bundy Fluid System (Tianjin) Company Limited ·
Bundy Fluid Systems (Shanghai) Company Limited,
Shanghai ·
Bundy Fluid Systems Limited, China ·
Bundy Tubing Company (Australia) Pty. Limited ·
Hanil Tube Corporation, Korea ·
Hanil Tube India Private Limited CIN No.: U34100TN2007PTC064240 ·
TI Automotive (Ettlingen) GmbH ·
TI Automotive (Thailand) Limited ·
Ti Automotive Canada ·
TI Automotive Limited, Korea ·
TI Automotive Systems (Changchun) Company Limited ·
TI Automotive System (Shanghai) Company Limited ·
TI Automotive Systems, Japan ·
TI Automotive Technology Centre GmbH, Germany ·
TI Automotive(Fuldabruk) GmbH, Germany ·
TI Automotive, Marysville ·
TI Brasil Industriae Comercio Ltda ·
TI Group Automotive Systems (Belgium) S.A. ·
TI Group Automotive Systems (Deeside) Limited ·
TI Group Automotive Systems AB, Sweden ·
TI Group Automotive Systems France ·
TI Group Automotive Systems Limited, UK ·
TI Group Automotive Systems Llc, USA ·
Wuhan Bundy Fluid Systems Company Limited |
CAPITAL STRUCTURE
As on 28.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10046448 |
Equity Shares |
Rs.10/- each |
Rs.100.464
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
100.464 |
90.001 |
|
(b) Reserves & Surplus |
|
442.806 |
427.302 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
107.773 |
|
Total
Shareholders’ Funds (1) + (2) |
|
543.270 |
625.076 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
167.448 |
163.464 |
|
(b) Deferred tax liabilities (Net) |
|
2.158 |
39.650 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
30.623 |
21.773 |
|
Total Non-current
Liabilities (3) |
|
200.229 |
224.887 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
87.676 |
35.000 |
|
(b) Trade
payables |
|
673.153 |
433.974 |
|
(c) Other
current liabilities |
|
15.195 |
26.912 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
776.024 |
495.886 |
|
|
|
|
|
|
TOTAL |
|
1519.523 |
1345.849 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
656.214 |
419.170 |
|
(ii)
Intangible Assets |
|
1.486 |
2.744 |
|
(iii)
Capital work-in-progress |
|
9.682 |
118.832 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.100 |
0.101 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
129.759 |
121.330 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
797.241 |
662.177 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
228.421 |
217.849 |
|
(c) Trade
receivables |
|
344.424 |
351.821 |
|
(d) Cash
and cash equivalents |
|
20.227 |
23.241 |
|
(e)
Short-term loans and advances |
|
129.210 |
90.761 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
722.282 |
683.672 |
|
|
|
|
|
|
TOTAL |
|
1519.523 |
1345.849 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
79.258 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
330.333 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
409.591 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
73.640 |
|
|
TOTAL BORROWING |
|
|
73.640 |
|
|
DEFERRED TAX LIABILITIES |
|
|
27.440 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
510.671 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
408.743 |
|
|
Capital work-in-progress |
|
|
13.289 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.101 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
173.035
|
|
|
Sundry Debtors |
|
|
272.276
|
|
|
Cash & Bank Balances |
|
|
18.645
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
80.689
|
|
Total
Current Assets |
|
|
544.645 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
404.619
|
|
|
Other Current Liabilities |
|
|
32.557
|
|
|
Provisions |
|
|
18.931
|
|
Total
Current Liabilities |
|
|
456.107 |
|
|
Net Current Assets |
|
|
88.538
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
510.671 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2226.789 |
1913.667 |
1210.793 |
|
|
|
Other Income |
10.063 |
12.691 |
20.098 |
|
|
|
TOTAL (A) |
2236.852 |
1926.358 |
1230.891 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1611.848 |
1417.601 |
|
|
|
|
Employee benefits expenses |
169.215 |
134.371 |
|
|
|
|
Other Expenses |
441.931 |
346.156 |
|
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
61.022 |
(38.385) |
|
|
|
|
TOTAL (B) |
2284.016 |
1859.743 |
1149.561 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(47.164) |
66.615 |
81.330 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.806 |
17.981 |
11.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(67.970) |
48.634 |
69.454 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.328 |
39.345 |
35.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(119.298) |
9.289 |
34.218 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(37.492) |
12.229 |
9.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(81.806) |
(2.940) |
24.342 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
75.915 |
78.855 |
54.513 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(5.891) |
75.915 |
78.855 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.148 |
6.662 |
0.000 |
|
|
|
Services rendered |
36.088 |
32.788 |
30.204 |
|
|
TOTAL EARNINGS |
42.236 |
39.450 |
30.204 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials & Consumables |
160.483 |
59.551 |
61.900 |
|
|
|
Bought out Tubes, Components and Chemicals |
378.803 |
216.619 |
133.441 |
|
|
|
Plastic Fuel Tanks |
287.680 |
420.886 |
190.186 |
|
|
|
Capital Goods |
22.717 |
60.105 |
16.676 |
|
|
|
Spares |
7.774 |
3.521 |
1.430 |
|
|
TOTAL IMPORTS |
857.457 |
760.682 |
403.633 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(8.14) |
(0.33) |
3.07 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
(3.66)
|
(0.15) |
1.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.36)
|
0.49 |
2.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.90)
|
0.76 |
3.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22)
|
0.02 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47
|
0.32 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93
|
1.38 |
1.19 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
79.258 |
90.001 |
100.464 |
|
Reserves & Surplus |
330.333 |
427.302 |
442.806 |
|
Share Application money pending allotment |
0.000 |
107.773 |
0.000 |
|
Net
worth |
409.591 |
625.076 |
543.270 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
163.464 |
167.448 |
|
Short Term borrowings |
73.640 |
35.000 |
87.676 |
|
Total
borrowings |
73.640 |
198.464 |
255.124 |
|
Debt/Equity
ratio |
0.180 |
0.318 |
0.470 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
1,210.793 |
1,913.667 |
2,226.789 |
|
|
|
58.051 |
16.362 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
1,210.793 |
1,913.667 |
2,226.789 |
|
Profit |
24.342 |
(2.940) |
(81.806) |
|
|
2.01% |
(0.15%) |
(3.67%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
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 |
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:
|
HIGH COURT OF GUJARAT CIVIL APPLICATION (FOR DIRECTION) No. 13255 of 2011
Last Listing Date: 03/11/2014
Other Forums
Office Details
Court Proceedings
Available Orders
|
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Fully Convertible Debentures others |
36.000 |
36.000 |
|
Term Loans from Others |
131.448 |
127.464 |
|
Total |
167.448 |
163.464 |
FINANCIAL RESULTS AND OPERATIONS
During the year
2012, the Company has set up additional facilities in Pune and Chennai. Going
forward with the objective of nearness to the customer Pune facility has been
set up to meet the requirements of Mahindra and Mahindra, General Motors,
Volkswagen and Fiat. A world class facility to manufacture plastic fuel tanks
involving multilayer low permeability technology has been set up in Chennai.
Market slowdown
seriously impacted sales during the second half of the year, negating the
growth achieved in the first half of the year. While passenger vehicle market
to which the company caters has grown by about 10% during the year 2012, the
company sales have increased by over 16%.
Steep fall in
rupee value against major currencies during the year, delay in construction of
building and commencement of local manufacture of plastic fuel tanks in
Chennai, have seriously impacted the profitability of the Company for the year
2012. This has resulted in company incurring a loss of Rs.1190.000 Millions as
against a modest profit of Rs.9.200 Millions previous year.
While concerns
remain due to continued slowdown in the market during the first of the current
year, the board of directors is cautiously optimistic about market revival
during the latter part of the year. Strategies and plans are in place and
geared up to meet the market challenges.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10065922 |
17/08/2007 |
50,000,000.00 |
State Bank Of
India |
Special
Commercial Branch, Trident Complex, 2nd Floor,
Race Course, Vadodara, Gujarat - 390007, India |
A22169007 |
|
2 |
10057424 |
22/06/2007 |
50,000,000.00 |
State Bank Of
India |
Special
Commercial Branch, Trident Complex, 2nd Floor,
Race Course, Vadodara, Gujarat - 390007, India |
A17818220 |
|
3 |
10043974 |
22/03/2007 |
90,000,000.00 |
State Bank Of
India |
Commercial Branch,
2nd Floor, Trident, Race Course, Vadodara, Gujarat - 390007, India |
A12970539 |
|
4 |
10045171 |
22/03/2007 |
90,000,000.00 |
State Bank Of
India |
Commercial
Branch, 2nd Floor, Trident, Race Course, Vadodara, Gujarat - 390007, India |
A12970752 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 records 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] 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.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
0 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
42 |
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.