MIRA INFORM REPORT
|
Report No. : |
318981 |
|
Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPICER INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SPICER INDIA LIMITED |
|
|
|
|
Registered
Office : |
29 Milestone, Pune-Nashik Highway, Village Kuruli, Taluka
Khed, Pune – 410501, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.07.1993 |
|
|
|
|
Com. Reg. No.: |
11-073227 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 978.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1993PTC073227 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES11424A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS1869C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in business of manufacturing of drivetrain
products and service parts namely axles, driveshaft’s and components. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 of the company during
FY 2014 however, financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payment
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.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-2135-616100)
LOCATIONS
|
Registered Office : |
29 Milestone, Pune-Nashik Highway, Village Kuruli, Taluka
Khed, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-301100/ 301125 |
|
Fax No.: |
91-2135-301122/ 301133 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
: |
Survey No.24/P and 29/9 Village, Jodalli – 580114, Karnataka, India |
|
|
|
|
Factory 1 : |
Village, Jodalli, Taluka Kalghatgi, District Dharwad, Jodalli - 580114, Karnataka, India |
|
Tel No: |
91-836-2310482/ 3 |
|
Fax No: |
91-836-2310481 |
|
|
|
|
Factory 2 : |
Plot 144, SIPCOT Industrial Comples, Phase – I, Hosur – 635126, Tamilnadu, India. |
|
Tel No: |
91-4344-277026 |
|
Fax No: |
91-4344-277803 |
|
|
|
|
Factory 3 : |
Gat No.74/A, Tulja Bhavani Industrial Estate, Near to Additional M.I.D.C. Karandwadi, Satara – 415004, Maharashtra, India |
|
Tel No: |
91-2162-246503/ 4/ 6 |
|
Fax No: |
91-2162-246505 |
|
|
|
|
Factory 4 : |
622-626, Kuruli, Chakan, Pune – 410501, Maharashtra, India |
|
Tel No: |
91-2135-252228 |
|
|
|
|
Other Factories : |
Also located at: · Santnagar, Uttarakhand, India ·
Hobli Uttarakhand, India |
DIRECTORS
AS ON 18.08.2014
|
Name : |
Mr. Deepak Chopra |
|
Designation : |
Managing Director |
|
Address : |
7 and 8, Anfilco Housing Colony, Anand Farm, Palam Gurgaon Road,
Gurgaon – 122016, Haryana, India |
|
Date of Birth/Age : |
15.12.1954 |
|
Qualification : |
ACA, ACS |
|
Date of Appointment : |
19.01.2014 |
|
PAN No.: |
ACEPC2926R |
|
DIN No.: |
00028770 |
|
|
|
|
Name : |
Mr. Deep Chand Anand |
|
Designation : |
Director |
|
Address : |
No.1, Sri Aurobindo Marg, Hauz Khas, New Delhi - 110016, India |
|
Date of Birth/Age : |
26.08.1933 |
|
Date of Appointment : |
29.07.1993 |
|
DIN No.: |
00090123 |
|
|
|
|
Name : |
Mr. Robert David Pyle |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
No.4, Gao An Road, Xuhui District, Shanghai 200030, China |
|
Date of Birth/Age : |
12.12.1966 |
|
Qualification : |
MBA |
|
Date of Appointment : |
05.06.2012 |
|
DIN No.: |
03622775 |
|
|
|
|
Name : |
Mr. Mark Emerson Wallace |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
790 Broad CT N, Naples FL, 34102, United States of America |
|
Date of Birth/Age : |
16.01.1967 |
|
Qualification : |
MBA |
|
Date of Appointment : |
16.09.2011 |
|
DIN No.: |
03645546 |
|
|
|
|
Name : |
Mr. Jason Wesley Johnson |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
2311 Gibley Park Road, Toledo OH, 43617, United States of America |
|
Date of Birth/Age : |
15.03.1972 |
|
Date of Appointment : |
07.03.2012 |
|
DIN No.: |
05226025 |
|
|
|
|
Name : |
Mr. Saket Sapra |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Hotel Oakwood Premier, 81, Mundhwa, Koregaon Park Annex, Pune – 411
036, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1971 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
05154694 |
|
|
|
|
Name : |
Mr. Manoj Rajendra Kolhatkar |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
C-8, Kapil Malhar, S.No.184 188, Baner, Pune – 411045, Maharashtra,
India |
|
Date of Birth/Age : |
29.07.1968 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No.: |
03553983 |
MAJOR SHAREHOLDERS
AS ON 18.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Dana World Trade Corporation, USA |
|
73274670 |
|
Asia Investments Private Limited, India |
|
24555325 |
|
Praveshkumar Srivastava |
|
1 |
|
Chandrakant Somabhai Patel |
|
1 |
|
K.K. Jaggi |
|
1 |
|
Deepak R. Chopra |
|
1 |
|
Charanjit Singh |
|
1 |
|
|
|
|
|
Total |
|
97830000 |
AS ON 18.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
74.90 |
|
Bodies corporate |
25.10 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in business of manufacturing of
drivetrain products and service parts namely axles, driveshaft’s and
components. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
||||||||||||
|
|
|
||||||||||||
|
Brand Names : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Agencies Held : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Exports : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Imports : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Terms : |
|
||||||||||||
|
Selling : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
· Deutsche Bank, Hazarimal Somani Marg, Fort, Mumbai – 400001, Maharashtra, India · Bank of Nova Scotia, Mittal Towers, 'B' Wing, Nariman Point, Mumbai - 400021, Maharashtra, India · Standard Charted Grindlays Bank Limited ·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India ·
Yes Bank ·
Kotak Mahindra Bank Limited |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Muttha Towers, 5th Floor, Suite No. 8, Airport Road,
Yerawada, Pune – 411006, Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Membership : |
-- |
|
|
|
|
Holding Company : |
Dana World Trade Corporation, United States |
|
|
|
|
Ultimate Holding
Company: |
Dana Automotive Systems Group, LLC, United States |
|
|
|
|
Fellow Subsidiary Companies : |
·
C.A. Danaven ·
Dana India Private Limited, India [U51909MH2000PTC124685] ·
Dana Australia Pty. Limited, Australia ·
Dana Austria GmbH, Austria ·
Dana Global Products, Inc., United States ·
Dana GmbH, Germany ·
Dana Heavy Vehicle Systems Group, LLC ·
Dana Industrias Ltda., Brazil ·
Dana Italia, SpA, Italy ·
Dana Japan, Limited, Japan ·
Dana Spicer (Thailand) Limited, Thailand ·
Dana Spicer Europe Limited, United Kingdom ·
Dana Spicer Industria e Comercio Autopecas Ltda.,
Brazil ·
Dana UK Driveshaft Limited, United Kingdom ·
Dana de México Corporation, S. de R.L. de C.V.,
Mexico ·
Fujian Spicer Drivetrain System Co., Limited,
China ·
Gearmax (Pty) Limited, South Africa ·
Industria de Ejes y Transmissiones S.A., Colombia ·
Najico Spicer Company, Limited, Japan ·
ROC Spicer Limited, Taiwan ·
Spicer Axle Australia Pty Limited, Australia ·
Spicer Ayra Cardan, S.A., Spain ·
Spicer Ejes Pesados S.A., Argentina ·
Spicer France S.A.S., France ·
Spicer Gelenkwellenbau GmbH, Germany ·
Spicer Nordiska Kardan AB, Sweden · Dana India Technical Centre Private Limited [U74210PN2001PTC129657] ·
Dana Limited |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
Asia Investments Private Limited, India (CIN No.: U65993MH1966PTC206200) |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1090.000 Million |
|
100,000 |
Preference Shares |
Rs.100/- each |
Rs. 10.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 1100.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
97,830,000 |
Equity Shares |
Rs.10/- each |
Rs. 978.300 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
978.300 |
978.300 |
978.300 |
|
(b) Reserves & Surplus |
1531.880 |
1341.723 |
1065.641 |
|
(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) |
2510.180 |
2320.023 |
2043.941 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
152.653 |
|
(b) Deferred tax liabilities (Net) |
53.689 |
88.324 |
20.665 |
|
(c) Other long term
liabilities |
7.151 |
7.003 |
6.993 |
|
(d) long-term
provisions |
51.428 |
51.065 |
10.201 |
|
Total Non-current
Liabilities (3) |
112.268 |
146.392 |
190.512 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
2110.128 |
2480.579 |
2231.418 |
|
(c) Other
current liabilities |
134.175 |
249.118 |
198.468 |
|
(d) Short-term
provisions |
329.893 |
321.394 |
375.256 |
|
Total Current
Liabilities (4) |
2574.196 |
3051.091 |
2805.142 |
|
|
|
|
|
|
TOTAL |
5196.644 |
5517.506 |
5039.595 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1747.070 |
1739.463 |
1612.275 |
|
(ii)
Intangible Assets |
65.612 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
60.073 |
53.184 |
127.146 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
156.957 |
300.754 |
257.283 |
|
(e) Other
Non-current assets |
2.742 |
6.788 |
9.192 |
|
Total Non-Current
Assets |
2032.461 |
2100.196 |
2005.903 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
897.777 |
937.775 |
929.669 |
|
(c) Trade
receivables |
1171.791 |
1485.939 |
1403.044 |
|
(d) Cash
and cash equivalents |
739.418 |
714.572 |
450.165 |
|
(e)
Short-term loans and advances |
318.128 |
256.000 |
246.588 |
|
(f) Other
current assets |
37.069 |
23.024 |
4.226 |
|
Total
Current Assets |
3164.183 |
3417.310 |
3033.692 |
|
|
|
|
|
|
TOTAL |
5196.644 |
5517.506 |
5039.595 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
9461.587 |
11819.631 |
10438.479 |
|
|
|
Other Income |
115.373 |
23.207 |
26.636 |
|
|
|
TOTAL (A) |
9576.960 |
11842.838 |
10465.115 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6367.272 |
8175.230 |
7347.130 |
|
|
|
Purchases of stock-in-trade |
32.689 |
39.494 |
6.756 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(52.659) |
29.252 |
(15.716) |
|
|
|
Employee benefit expense |
576.865 |
592.456 |
488.204 |
|
|
|
Other expenses |
1530.765 |
1759.466 |
1674.437 |
|
|
|
TOTAL (B) |
8454.932 |
10595.898 |
9500.811 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1122.028 |
1246.940 |
964.304 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.255 |
8.757 |
14.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1117.773 |
1238.183 |
949.825 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
225.472 |
193.611 |
152.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
892.301 |
1044.572 |
797.481 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
271.421 |
311.798 |
220.101 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
620.880 |
732.774 |
577.380 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2267.565 |
2072.008 |
1860.405 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
493.385 |
627.772 |
656.234 |
|
|
|
Stores & Spares |
10.000 |
45.925 |
13.323 |
|
|
|
Capital Goods |
0.954 |
33.532 |
206.224 |
|
|
TOTAL IMPORTS |
504.339 |
707.229 |
875.781 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
6.35 |
7.49 |
5.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
6.56 |
6.20 |
5.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.86 |
10.55 |
9.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.37 |
19.12 |
16.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.45 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.12 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
978.300 |
978.300 |
978.300 |
|
Reserves & Surplus |
1065.641 |
1341.723 |
1531.880 |
|
Net
worth |
2043.941 |
2320.023 |
2510.180 |
|
|
|
|
|
|
Long-term borrowings |
152.653 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
152.653 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.075 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10438.479 |
11819.631 |
9461.587 |
|
|
|
13.231 |
(19.950) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10438.479 |
11819.631 |
9461.587 |
|
Profit |
577.380 |
732.774 |
620.880 |
|
|
5.53% |
6.20% |
6.56% |
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10027654 |
31/07/2009 * |
525,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A68980234 |
|
2 |
90084549 |
18/11/1996 |
70,000,000.00 |
DEUTSCHE BANK |
HAZARIMAL SOMANI
MARG, FORT, BOMBAY, MAHARASHTRA |
- |
|
3 |
90084503 |
02/08/1996 |
50,000,000.00 |
ANZ GRINDLAYS BANK |
P.I.C. FORT
BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90084495 |
24/07/1996 |
100,000,000.00 |
ANZ GRINDLAYS BANK |
P.I.C. FORT
BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
5 |
90090308 |
14/05/1996 |
50,000,000.00 |
THE BANK OF NOVA
SCOTIA |
MITTAL TOWERS; 'B'
WING, NARIMAN POINT, MUMBAI, |
- |
* Date of modification Charges
GENERAL INFORMATION
Subject was established in
1993 and is primarily engaged in business of manufacturing of drivetrain
products and service parts namely Axles, Driveshafts and components which
constitute heart of the transmission system. The Company has manufacturing
plants in India and sells in both domestic and export segment.
Fixed Assets:
· Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Computers
· Vehicles
· 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. 63.40 |
|
|
1 |
Rs. 95.42 |
|
Euro |
1 |
Rs. 68.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
64 |
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.