MIRA INFORM REPORT
|
Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CRAFTSMAN AUTOMATION PRIVATE LIMITED |
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Registered
Office : |
15, LML Colony,
P.N. Palayam, Coimbatore – 641 037, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.07.1986 |
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Com. Reg. No.: |
18-001816 |
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Capital
Investment / Paid-up Capital : |
Rs.57.490 millions |
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CIN No.: [Company Identification
No.] |
U28991TZ1986PTC001816 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CMBC03708F |
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PAN No.: [Permanent Account No.] |
AABCC2461K |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business
: |
Subject is mainly engaged
in contract manufacturing, subject manufactures a wide range of components,
sub-assemblies both on supply basis and on job work basis. |
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No. of Employees
: |
Information
declined by the Management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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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Maximum Credit Limit : |
USD 13414000 |
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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. Sales turnover of
the company has declined which has resulted into dip in profit of the company
during financial year 2013. However, the
rating reflects CAPL’s established position in the engineering contract
manufacturing segment, supported by strong customer relationships and sound
general financial position of the company. Trade relations
are fair. Business is active. Payment terms are reported to be usually
correct. The company can
be considered for business dealings at usual trade terms and condition. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
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Rating |
Long Term Rating: BBB |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
January 21, 2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating: A3+ |
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Rating Explanation |
Moderate degree of safety and high credit risk. |
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Date |
January 21, 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
31-03-2012.
INFORMATION DECLINED
Management non-cooperative
(Tel. No.: 91-422-3021000)
LOCATIONS
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Registered Office/ Factory 1 : |
15, LML Colony,
P.N. Palayam, Coimbatore – 641 037, Tamilnadu, India |
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Tel. No.: |
91-422-2210994/
2212183/ 6615100/ 3021000 |
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Fax No.: |
91-422-2211976/
2210976/ 6615156 |
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E-Mail : |
saravanan@craftsmanautomation.com
craftsman@craftsmanautomation.com murali@craftsmanautomation.com
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Websites: |
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Area : |
12000 sq. ft. |
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Location : |
Owned |
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Corporate Office : |
Snthil Towers, 4th Floor, 1078,
Avinashi Road, Coimbatore – 641 018, Tamilnadu, India |
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Factory 2 : |
E-43, SIDCO
Industrial Estate, Kurichi, Coimbatore – 641 021, Tamilnadu, India |
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Tel. No.: |
91-422-3023900 |
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Fax No.: |
91-422-3023911 |
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Factory 3 : |
123/4,
Sangothipalayam Road, Arasur Post, Coimbatore – 641 407, Tamilnadu, India |
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Tel. No.: |
91-422-3051000 |
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Fax No.: |
91-422-3051111 |
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Factory 4 : |
1251-B, Avanashi Road, Peelamedu, Coimbatore-641045, India |
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Factory 5 : |
No.8, D&E
Industrial Area, Sector-1, Pithampur, Dhar District – 454 775, Madhya Pradesh, India |
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Tel. No.: |
91-729-2393300 |
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Fax No.: |
91-729-2393333 |
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Factory 6 : |
24-A/1-C, SIDCO
Industrial Estate, North Phase, 1st Cross Street, Ambattur,
Coimbatore – 600 098, India |
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Tel. No.: |
91-442-6250382 |
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Fax No.: |
91-442-6250382 |
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Factory 7 : |
Plot No.M-3 (P), Large
Sector, Adityapur Industrial Area, Sriramput Gamharia, Saratkela, Jamshedpur
– 832 108, Jharkhand, India |
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Tel. No.: |
91-657-3987000 |
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Fax No.: |
91-657-3987033 |
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Factory 8 : |
Plot No.L-3, Phase-II,
SIPCOT Industrial Park, Sriperubudur, Kancheepuram District – 602 105,
Tamilnadu, India |
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Tel. No.: |
91-442-6250382 |
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Fax No.: |
91-442-6250382 |
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Factory 9 : |
Gat No.1224/02, Survey
No.112/2, Sanaswadi Village, Shirur Taluk, Pune – 412 203, Maharashtra, India
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Factory 10 : |
Gat No.137, Hissa
No.2, Sanaswadi Village, Shirur Taluk, Pune – 412 208, Maharashtra, India |
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Factory 11 : |
Gat No.941 and 942,
Hissa No.1, Sanaswadi Village, Shirur Taluk, Pune – 412 208, Maharashtra,
India |
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Factory 12 : |
Plot No.214,
Sector-53, Ballabhgarh, District Faridabad – 121 004, Haryana, India |
DIRECTORS
AS ON 11.09.2013
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Name : |
Mr. Srinivasan Ravi |
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Designation : |
Managing Director |
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Address : |
Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore –
641 018, Tamilnadu, India |
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Date of Birth/Age : |
18.03.1963 |
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Date of Appointment : |
13.11.2013 |
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DIN No.: |
01257716 |
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PAN No.: |
AEYPR9359H |
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Other Directorship :
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Name : |
Dr. Govindasamy Naidu Srinivasan |
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Designation : |
Director |
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Address : |
Old No.153, New No.209, Tea Estate Compound, Race Course, Coimbatore –
641 018, Tamilnadu, India |
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Date of Birth/Age : |
19.01.1928 |
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Date of Appointment : |
01.11.1996 |
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DIN No.: |
02369228 |
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Other Directorship :
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Name : |
Mr. Chandrashekar Bhide |
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Designation : |
Director |
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Address : |
104, Ajay Thkataria Marg, Mahim, Mumbai – 400 016, Maharashtra, India |
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Date of Birth/Age : |
12.07.1948 |
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Date of Appointment : |
11.09.2013 |
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DIN No.: |
00027967 |
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Other Directorship :
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Name : |
Mr. Namit Arora |
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Designation : |
Nominee Director |
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Address : |
Flat No.202, 2nd Floor, Monika Co-operative Housing
Society, Fazal Soboni St, Colaba Wood HSE Road, Mumbai – 400 005,
Maharashtra, India |
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Date of Birth/Age : |
19.11.1971 |
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Date of Appointment : |
21.08.2012 |
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DIN No.: |
02577648 |
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Other Directorship :
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Name : |
Mr. Kallakurichi Kanniah Balu |
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Designation : |
Director |
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Address : |
17/11, Syndicate Enclave, Sengani Amman Koil St, Maduvankarai, Chennai
– 600 032, Tamilnadu, India |
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Date of Birth/Age : |
15.09.1944 |
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Date of Appointment : |
11.09.2013 |
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DIN No.: |
03640304 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Sundaram
Rajamanickam |
|
Designation : |
Secretary |
|
Address : |
3/25, Kondasamy
Naidu Street, Velandipalayam, Coimbatore – 641 025, Tamilnadu, India |
|
Date of Birth/Age : |
25.03.1967 |
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Date of Appointment : |
05.03.2008 |
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PAN No.: |
AEYPR5618D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
S. Ravi |
303750 |
52.83 |
|
S. Murali |
60750 |
10.57 |
|
K. Gomatheswaran |
40500 |
7.04 |
|
International
Finance Corporation, USA |
80803 |
14.06 |
|
Standard
Chartered Private Equity (Mauritius) II Limited, Mauritius |
89100 |
15.50 |
|
Total |
574903 |
100.00 |
AS ON 11.09.2013
|
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] |
|
29.55 |
|
Directors
or relatives of directors |
|
70.45 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is mainly engaged
in contract manufacturing, subject manufactures a wide range of components,
sub-assemblies both on supply basis and on job work basis. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the Management. |
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Bankers : |
·
Indian Bank, Pappanaickenpalayam Branch, P.B.
No.63, 1134, Sabtharang Building, Avinashi Road, Coimbatore – 641 037,
Tamilnadu, India ·
IDBI Bank Limited ·
Central Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
PKF
Sridhar and Santhanam Chartered
Accountants |
|
Address : |
No.38-1,
Raghupathy Layout, Saibaba Colony, Coimbatore – 641 011, Tamilnadu, India |
|
PAN No.: |
ANZPS9856J |
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Subsidiary Company : |
·
Craftsman Automation Singapore Pte. Limited,
Singapore ·
Craftsman Marine B.V., Netherlands |
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Joint Venture : |
·
Carl Stahl Craftsman Enterprises Private Limited,
India (CIN No.: U51900TZ2007PTC013823)
·
MC Craftsman Machinery Private Limited, India
(CIN No.: U29200TZ2007PTC014014)
|
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|
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Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
Ashwinram Spinning Mills Private Limited, India
(CIN No.: U17111TZ1990PTC002572)
·
Integra Automation Private Limited, India (CIN
No.: U30007TN1989PTC018113)
·
Mastercraft Engineers Private Limited, India (CIN
No.: U29199TZ1991PTC003548) ·
Shanmo Engineering Products India Private
Limited, India (CIN No.: U29199TZ2007PTC013551) |
CAPITAL STRUCTURE
AS ON 11.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
574903 |
Equity Shares |
Rs.100/- each |
Rs.57.490 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 |
57.490 |
47.126 |
47.126 |
|
(b) Reserves & Surplus |
3295.944 |
1896.107 |
1406.448 |
|
(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) |
3353.434 |
1943.233 |
1453.574 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2680.777 |
2979.548 |
1493.471 |
|
(b) Deferred tax liabilities (Net) |
605.161 |
498.170 |
318.041 |
|
(c)
Other long term liabilities |
0.000 |
6.111 |
0.000 |
|
(d)
Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
3285.938 |
3483.829 |
1811.512 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1827.958 |
1457.095 |
956.797 |
|
(b)
Trade payables |
635.195 |
1166.069 |
848.446
|
|
(c)
Other current liabilities |
1105.700 |
1285.761 |
718.732
|
|
(d)
Short-term provisions |
49.299 |
79.466 |
43.463
|
|
Total
Current Liabilities (4) |
3618.152 |
3988.391 |
2567.438 |
|
|
|
|
|
|
TOTAL |
10257.524 |
9415.453 |
5832.524 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
6201.352 |
5212.908 |
3296.727 |
|
(ii)
Intangible Assets |
8.014 |
3.160 |
2.395 |
|
(iii)
Capital work-in-progress |
98.617 |
544.044 |
92.494 |
|
(iv) Intangible assets under
development and work-in-progress |
16.937 |
12.283 |
0.000 |
|
(b) Non-current
Investments |
35.983 |
35.983 |
35.983 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
822.056 |
669.793 |
450.238 |
|
(e)
Other Non-current assets |
1.463 |
7.393 |
0.951 |
|
Total
Non-Current Assets |
7184.422 |
6485.564 |
3878.788 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1440.197 |
1298.814 |
961.052
|
|
(c)
Trade receivables |
1044.076 |
1020.962 |
574.204
|
|
(d)
Cash and cash equivalents |
89.117 |
170.967 |
120.011
|
|
(e)
Short-term loans and advances |
499.712 |
439.146 |
298.469 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3073.102 |
2929.889 |
1953.736 |
|
|
|
|
|
|
TOTAL |
10257.524 |
9415.453 |
5832.524 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating
revenue |
5713.200 |
6001.000 |
3336.226 |
|
|
|
Other Income |
24.300 |
9.900 |
NA |
|
|
|
TOTAL |
5737.500 |
6010.900 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
4140.400 |
4415.500 |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
4140.400 |
4415.500 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1597.100 |
1595.400 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES AND DEPRECIATION/ AMORTISATION |
1006.300 |
884.700 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
590.800 |
710.700 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
168.600 |
215.600 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
422.200 |
495.100 |
245.362 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
655.800 |
215.700 |
0.001 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend at 10% |
5.400 |
4.700 |
4.407 |
|
|
|
Provision for dividend Distribution Tax |
0.900 |
0.800 |
0.715 |
|
|
|
General Reserve |
42.200 |
49.500 |
24.536 |
|
|
BALANCE CARRIED
TO THE B/S |
1029.500 |
655.800 |
215.705 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
734.38 |
1050.58 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.36 |
8.24 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.34 |
11.84 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.85 |
8.05 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.37 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.34 |
2.28 |
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.73 |
0.76 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
47.126 |
47.126 |
57.490 |
|
Reserves & Surplus |
1406.448 |
1896.107 |
3295.944 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1453.574 |
1943.233 |
3353.434 |
|
|
|
|
|
|
Long-term borrowings |
1493.471 |
2979.548 |
2680.777 |
|
Short term borrowings |
956.797 |
1457.095 |
1827.958 |
|
Total borrowings |
2450.268 |
4436.643 |
4508.735 |
|
Debt/Equity ratio |
1.686 |
2.283 |
1.345 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Operating revenue |
3336.226 |
6001.000 |
5713.200 |
|
|
|
79.874 |
(4.796) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Operating revenue |
3336.226 |
6001.000 |
5713.200 |
|
Profit |
245.362 |
495.100 |
422.200 |
|
|
7.35% |
8.25% |
7.39% |
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 |
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 |
10482047 |
05/03/2014 |
125,000,000.00 |
EXPORT- IMPORT BANK OF
INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B98292428 |
|
2 |
10435630 |
11/03/2014 * |
270,000,000.00 |
STANDARD CHARTERED BANK |
509, D. B. ROAD, R.S.
PURAM, COIMBATORE, TAMILNADU - 641002, INDIA |
B98746167 |
|
3 |
10324945 |
11/10/2013 * |
296,300,000.00 |
STANDARD CHARTERED BANK |
509, D. B. ROAD, R. S.
PURAM, COIMBATORE, TAMILNADU - 641002, INDIA |
B88692348 |
|
4 |
10310560 |
03/03/2014 * |
400,000,000.00 |
EXPORT IMPORT BANK OF
INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C10501765 |
|
5 |
10309475 |
25/04/2013 * |
600,000,000.00 |
ICICI BANK LIMITED |
1090, CHERAN PLAZA,
TRICHY ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
B77434207 |
|
6 |
10256865 |
25/04/2013 * |
288,900,000.00 |
ICICI BANK LIMITED |
1090, CHERAN PLAZA,
TRICHY ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
B77428282 |
|
7 |
10257241 |
28/05/2014 * |
400,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE,
ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C05905963 |
|
8 |
10229953 |
11/10/2013 * |
169,800,000.00 |
STANDARD CHARTERED BANK |
509, D. B. ROAD, R. S.
PURAM,, COIMBATORE, TAMILNADU - 641002, INDIA |
B88692009 |
|
9 |
10231117 |
11/10/2013 * |
400,000,000.00 |
STANDARD CHARTERED BANK |
509, D. B. ROAD, R. S.
PURAM,, COIMBATORE, TAMILNADU - 641002, INDIA |
B88692736 |
|
10 |
10229370 |
03/03/2014 * |
82,800,000.00 |
EXPORT IMPORT BANK OF
INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C10560407 |
|
11 |
10145744 |
03/03/2014 * |
19,300,000.00 |
EXPORT IMPORT BANK OF
INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C10558088 |
|
12 |
10134622 |
03/03/2014 * |
21,400,000.00 |
EXPORT IMPORT BANK OF
INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C10555688 |
|
13 |
10074567 |
03/03/2014 * |
14,300,000.00 |
EXPORT IMPORT BANK OF
INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C10558880 |
|
14 |
10047759 |
03/03/2014 * |
9,500,000.00 |
EXPORT IMPORT BANK OF
INDIA |
FLOOR 21, CENTRE ONE BUILDING,
WORLD TRADE CENTRE, CUFFEE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C10559664 |
|
15 |
80007372 |
11/03/2014 * |
3,246,100,000.00 |
STATE BANK OF INDIA |
MID- CORPORATE GROUP, COMMERCIAL
BRANCH, 1443, TRICHY ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
C00993626 |
|
16 |
80002770 |
29/03/2006 * |
170,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, TRICHY
ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
- |
|
17 |
80007427 |
13/01/2007 * |
422,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 1443,
TRICHY ROAD, P.B. 3902, COIMBATORE, TAMILNADU - 641018, INDIA |
A11418126 |
|
18 |
80007364 |
11/03/2014 * |
25,300,000.00 |
INDIAN BANK |
PAPPANAICKENPALAYAM BRANCH,
P.B.NO.63, 1134, SABTHARANG BUILDING, AVINASHI ROAD, COIMBATORE, TAMILNADU -
641037, INDIA |
C01003870 |
|
19 |
80007361 |
24/01/2007 * |
375,000,000.00 |
INDIAN BANK |
P.N. PALAYAM BRANCH,
COIMBATORE, TAMILNADU - 641037, INDIA |
A12112041 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT-
TERM BORROWINGS |
|
|
|
Other loans and advances |
352.282 |
149.749 |
|
Total
|
352.282 |
149.749 |
OPERATING REVENUE
The continued weakness in
the economic scenario in India resulted in a decline in demand from the Indian
OEMs resulting in the operating revenue for the year 2012-13 at Rs.5713.200
millions being lower than 2011-12 operating revenue of Rs.6001.000 millions
(decline of 4.8%). While there was a marginal decline in revenues, the Company
undertook various cost reduction initiatives, and was hence able to maintain
EBITDA at last year’s level.
However, due to the
increased depreciation (increase by Rs.104.200 millions) and term loan interest
(increase by Rs.31.400 millions) on the back of the on-going capacity expansion
programmes, the PBT has dropped by 17% to 590.800 millions vs. 710.700 millions
last year. PBT margins have declined by c. 1.5% to 10.3% as against 11.8% in
the previous year. The earnings per share was lower at Rs.783 as against
Rs.1051 in 2011-12.
The cash generation was
lower at Rs.1021.900 millions as against Rs.1063.800 millions in 2011-12.
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Leasehold Improvements
· Office Equipments
· Computers
· Vehicles
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.61.62 |
|
|
1 |
Rs.99.12 |
|
Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.