MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

SOLIDUS HI-TECH PRODUCTS PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNES13795F

 

 

PAN No.:

[Permanent Account No.]

AAICS3670B

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

About 200 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers of all types of Electronic Components, Devices, Equipment and Appliances. 

 

 

Products :

·         Aluminium Heat Sink

·         Heat Sink

·         Metal Components

·         Metal Perforation

·         Perforated Sheets

·         Copper Bus Bars

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         USA

·         Germany

 

 

Imports :

 

Products :

Raw Materials

Countries :

Singapore

 

 

Terms :

 

Selling :

L/C and Credit

 

 

Purchasing :

L/C and Credit

 

 

 

GENERAL INFORMATION

 

Customers :

·         John Deere

·         Tyco Electronics

·         Schneider Electric

·         Hp Invent

·         Mahindra Tractors

·         Apw President

·         Mercedes-Benz

·         Yaskawa

 

 

No. of Employees :

About 200 (Approximately)

 

 

Bankers :

·         Axis Bank Limited, 1262/B, Sterling Plaza, Deccan Gymkhana, Jangli Maharaj Road, Pune – 411 004, Maharashtra, India

·         The Cosmos Co-Operative Bank Limited, 269/270, Shaniwar Peth, Pune – 411 030, Maharashtra, India

·         Standard Chartered Bank, SME credit, 23-25 M G Road, Fort, Mumbai, Maharashtra, India

·         ICICI Bank

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

From Axis Bank Limited

 

 

Term Loan A/c No. 909060035627798

11.604

20.946

Term Loan A/c No.0370106-56179

0.000

0.000

Term Loan A/c No. 037010600056762

2.497

5.231

Term Loan A/c No. 912060004487559

0.000

13.151

Term Loan A/c No.911060018320023

4.231

7.597

Term Loan A/c No.0370106-56771

4.122

8.678

Term Loan A/c No. 037010500056993

0.000

0.545

Term Loan A/c No. 9110600L8322168

0.000

14.671

Term Loan A/c No. 9120600040840938

10.638

0.000

Term Loan A/c No.91206000408337411

13.316

0.000

Term Loan AOQO6OOC784O396 WCTL

0.555

3.931

From Standard Chartered Bank

 

 

Term Loan A/c No.44507011 2010

2.902

4.894

Term Loan A/c No.4455732-2010

7.105

11.036

Term Loan A/c No 481 55683- WCTL

6.458

12.993

Less: Repayable within one year

39.523

43.610

 

23.905

60.063

 

 

 

Short Term Borrowings

 

 

Loans repayable on demand from banks

62.252

50.592

 

 

 

Total

86.157

110.655

 

UNSECURED LOANS:

 

Particulars

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

From Financial Institutions

 

 

ECL Finance Ltd-2510

2.500

0.000

Religare Finvest Ltd-45925

5.000

0.000

Less: Repayable within one year, stated under current liabilities

1.718

0.000

 

5.782

0.000

From Shareholders

16.386

46.160

 

 

 

Short Term Borrowings

 

 

Loans repayable on demand from banks

0.000

0.790

 

 

 

Total

22.168

46.950

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Chandorkar and Limaye

Chartered Accountants

Address :

33/29, ‘Aviva’, Prabhat Road, Lane No. 3, Erandwane, Pune – 411 004, Maharashtra, India 

PAN No.:

AAUPC4220A

 

 

Associates :

Vaibhav Screen Plast Private Limited

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2013

 

Names of Shareholders

 

No. of Shares

% of Holding

Ashok Manohar Musale

1334900

54.00

Vaibhav Ashok Musale

100

0.00

Bhushan Ashok Musale

60000

2.43

Enpack Plastics Private Limited, India 

355000

14.36

Vaibhav Screen Plast Private Limited, India

722195

29.21

Total

2472195

100.00

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2013

 

Category

Percentage

Bodies corporate

43.57

Directors or relatives of Directors

56.43

 

 

Total

100.00

 

 

 

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

24.722

17.500

11.251

(b) Reserves & Surplus

165.543

92.811

48.931

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

2.812

Total Shareholders’ Funds (1) + (2)

190.265

110.311

62.994

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

46.073

106.222

138.218

(b) Deferred tax liabilities (Net)

30.365

21.425

8.291

(c) Other long term liabilities

19.332

24.076

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

95.770

151.723

146.509

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

62.252

51.383

60.597

(b) Trade payables

193.289

155.594

136.453

(c) Other current liabilities

83.460

74.610

63.991

(d) Short-term provisions

14.858

8.777

2.744

Total Current Liabilities (4)

353.859

290.364

263.785

 

 

 

 

TOTAL

639.894

552.398

473.288

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

278.327

278.483

214.786

(ii) Intangible Assets

2.486

0.149

0.000

(iii) Capital work-in-progress

0.026

1.462

0.425

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.100

0.100

0.100

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

19.646

18.374

22.674

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

300.585

298.568

237.985

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

114.514

98.851

97.866

(c) Trade receivables

176.723

108.971

96.290

(d) Cash and cash equivalents

13.463

11.059

10.225

(e) Short-term loans and advances

34.484

33.675

23.184

(f) Other current assets

0.125

1.274

7.738

Total Current Assets

339.309

253.830

235.303

 

 

 

 

TOTAL

639.894

552.398

473.288

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

TOTAL            

914.000

805.800

763.100

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL            

859.100

771.800

736.600

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX

54.900

34.000

26.500

 

 

 

 

 

Less

TAX                                         

19.900

15.600

9.400

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

35.000

18.400

17.100

 

 

 

 

 

 

Earnings Per Share (Rs.)

14.16

NA

NA

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office :

1038/7A, Flat No. 3, Yogini Apartments, Model Colony, Shivajinagar, Pune – 411 016, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

punemetagraph@vsnl.net

Website :

http://www.solidushitech.com  

 

 

Factory  1 :

120, 2nd Phase, Jigani Industrial Area, Anekal Taluk, Bangalore – 562 106, Karnataka, India

Tel. No.:

91-80-25662541 / 27826747

Fax No.:

91-80-25662843

 

 

Factory 2 (100% E.O.U) :

Plot 9-A, I Phase, Jigani Industrial Area, Anekal Taluk, South Bangalore – 560 105, Karnataka, India

 

 

Factory 3 (100% E.O.U)  :

121, II Phase, Jigani Industrial Area, Anekal Taluk, South Bangalore – 560 105, Karnataka, India

 

 

Factory 4 (100% E.O.U)  :

# 33, I Phase, Jigani Industrial Area, Anekal Taluk, South Bangalore – 560 105, Karnataka, India

 

 

DTA Unit :

# 122, II Phase, Jigani Industrial Area, Anekal Taluk, South Bangalore – 560 105, Karnataka, India

 

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