MIRA INFORM REPORT
|
Report No. : |
319765 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRIRAM FOUNDRY LIMITED |
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Formerly Known : |
SHRIRAM FOUNDRY PRIVATE LIMITED |
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Registered
Office : |
47, Shivaji Park, Kolhapur - 416001, Maharashtra |
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Tel. No.: |
Not Available |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.07.1984 |
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Com. Reg. No.: |
11-033465 |
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Capital
Investment / Paid-up Capital : |
Rs. 34.000 Million |
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CIN No.: [Company Identification
No.] |
U29141PN1984PLC033465 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCS7789Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Cylinder Blocks, Hydraulic Lift Hosing’s, Brake Discs,
Pressure Plates and Hoses. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4600000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. The rating reflects company sound financial risk profile marked by
healthy networth position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-term Bank Facilities: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
August, 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.
LOCATIONS
|
Registered Office : |
47, Shivaji Park, Kolhapur - 416001, Maharashtra, India |
|
Tel. No. : |
Not Available |
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Fax No. : |
Not Available |
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E-Mail : |
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Factory : |
Plot No. 32, Sector-11, SIDCUL, Rudrapur – 263153, Uttarakhand, India |
DIRECTORS
As on 15.11.2014
|
Name : |
Neeraj Narendra Zanvar |
|
Designation : |
Director |
|
Address : |
52, Kasturi, Shivaji Park, Kolhapur - 416004, Maharashtra, India |
|
Date of Birth/Age : |
28.07.1982 |
|
Date of Appointment : |
10.10.2010 |
|
DIN No. : |
00239691 |
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|
Name : |
Narendra Rampratap Zanvar |
|
Designation : |
Managing director |
|
Address : |
52, Kasturi, Shivaji Park, Kolhapur - 416004, Maharashtra, India |
|
Date of Birth/Age : |
01.09.1957 |
|
Qualification : |
B.E. - Electrical |
|
Date of Appointment : |
18.07.1984 |
|
DIN No. : |
00239917 |
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|
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|
Name : |
Ramprtap Shivnarayan Zanvar |
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Designation : |
Managing director |
|
Address : |
52, Kasturi, Shivaji Park, Kolhapur - 416004, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1935 |
|
Qualification : |
B.E. Mech |
|
Date of Appointment : |
18.07.1984 |
|
DIN No. : |
00239955 |
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|
|
|
Name : |
Shivpratap Bhavarlal Marda |
|
Designation : |
Director |
|
Address : |
2103, Building No. 3, Plot No. 6, Rukmini Nagar, Kolhapur – 416005, Maharashtra, India |
|
Date of Appointment : |
18.07.1984 |
|
DIN No. : |
02131800 |
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|
|
Name : |
Rohan Narendra Zanvar |
|
Designation : |
Director |
|
Address : |
52, Kasturi, Shivaji Park, Kolhapur - 416004, Maharashtra, India |
|
Date of Birth/Age : |
31.03.1986 |
|
Qualification : |
B.E.- Mech |
|
Date of Appointment : |
10.10.2010 |
|
DIN No. : |
02373020 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.11.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Rampratap S. Zanvar |
264000 |
|
Keshar P. Zanvar |
202500 |
|
Narendra R. Zanvar |
415500 |
|
Neeta N. Zanvar |
120000 |
|
Neeraj N. Zanvar |
73500 |
|
Rohan N. Zanvar |
61500 |
|
Ramkrishna M. Dalya |
27000 |
|
Subhash R. Dalya |
76500 |
|
Rajendra R. Dalya |
42000 |
|
Padmavati N. Dalya |
7500 |
|
Zanvar Finance and Investments Private Limited, India |
210000 |
|
Total |
1500000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Kesher R. Zanvar and A. M. Somani |
500000 |
|
Kesher R. Zanvar and Neeraj N. Zanvar and Rohan N. Zanvar |
350000 |
|
Rampratap S. Zanvar |
500000 |
|
Narendra R. Zanvar |
140000 |
|
Neeta N. Zanvar |
410000 |
|
Jayshree Neeraj Zanvar |
10 |
|
Total |
1900010 |
As on 15.11.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cylinder Blocks, Hydraulic Lift Hosing’s, Brake Discs,
Pressure Plates and Hoses. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· The Saraswat Co-Operative Bank Limited, Rajarampuri Branch, Rajarampuri, Kolhapur - 416008, Maharashtra, India · IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Bank of Baroda, Shivaji Chowk Branch, Kolhapur - 416012, Maharashtra, India ·
Industrial Development Bank of India,
Shahupuri Branch, Kolhapur, Kolhapur - 416001, Maharashtra, India ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sudhir Karambelkar and Company Chartered Accountants |
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Address : |
2 6 D 'Monte ST, Bandra (West), Mumbai – 400050, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ABQFS7442F |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises in which
Promoters / Directors or their relatives are Substantially Interested : |
· Ashta Liners Private Limited CIN No.: U35203MH1988PTC049015 · Zanvar Engineering Export Private Limited CIN No.: U29299PN1992PTC066272 · Rohan Industries · Accurate Engg. Works · E D Steels Private Limited CIN No.: U27310MH1975PTC018180 · Alka Engineering Works · Neeta Engineering Works · S J Iron and Steels Private Limited CIN No.: U27310MH1981PTC025508 · Kasturi Foundry Private Limited CIN No.: U27310PN2006PTC129014 · Vijan Engineers · Zanvar Finance and Investment Private Limited CIN No.: U65993MH1985PTC038190 · RSZ Industries · Zanvar Technology and Consultancy Services · Kasturi Tools |
CAPITAL STRUCTURE
As on 15.11.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Million |
|
8000000 |
Preference Shares |
Rs.10/- each |
Rs. 80.000 Million |
|
3000000 |
Preference Shares |
Rs. 100/- each |
Rs. 300.000 Million |
|
|
|
|
|
|
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Total |
|
Rs. 400.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Million |
|
1,900,010 |
Preference Shares |
Rs.10/- each |
Rs. 19.000 Million |
|
|
|
|
|
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Total |
|
Rs. 34.000
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 |
34.000 |
34.000 |
34.000 |
|
(b) Reserves & Surplus |
1577.208 |
1221.014 |
793.240 |
|
(c) Money
received against Share Warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application Money Pending Allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’
Funds (1) + (2) |
1611.208 |
1255.014 |
827.240 |
|
|
|
|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term Borrowings |
21.185 |
63.480 |
190.913 |
|
(b) Deferred Tax Liabilities (Net) |
147.330 |
134.388 |
120.497 |
|
(c) Other Long Term
Liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-Term
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Liabilities (3) |
168.515 |
197.868 |
311.410 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term
Borrowings |
191.073 |
120.041 |
298.095 |
|
(b) Trade
Payables |
50.180 |
141.879 |
158.078 |
|
(c) Other
Current Liabilities |
18.350 |
61.438 |
130.511 |
|
(d) Short-Term
Provisions |
5.730 |
6.206 |
5.967 |
|
Total Current
Liabilities (4) |
265.333 |
329.564 |
592.651 |
|
|
|
|
|
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TOTAL |
2045.056 |
1782.446 |
1731.301 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-Current Assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
1100.179 |
1088.680 |
1027.028 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital Work-in-progress |
2.500 |
6.875 |
22.295 |
|
(iv)
Intangible Assets under Development |
0.000 |
0.000 |
0.000 |
|
(b) Non-Current Investments |
34.571 |
2.071 |
2.071 |
|
(c) Deferred Tax Assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-Term Loan and Advances |
31.119 |
65.413 |
25.455 |
|
(e) Other
Non-Current Assets |
1.404 |
1.639 |
1.873 |
|
Total Non-Current
Assets |
1169.773 |
1164.678 |
1078.722 |
|
|
|
|
|
|
(2) Current Assets |
|
|
|
|
(a)
Current Investments |
200.043 |
0.000 |
0.000 |
|
(b)
Inventories |
161.214 |
149.488 |
177.008 |
|
(c) Trade
Receivables |
339.873 |
296.910 |
312.278 |
|
(d) Cash
and Cash Equivalents |
42.671 |
26.645 |
57.886 |
|
(e) Short-Term
Loans and Advances |
130.832 |
144.049 |
104.521 |
|
(f) Other
Current Assets |
0.650 |
0.676 |
0.886 |
|
Total
Current Assets |
875.283 |
617.768 |
652.579 |
|
|
|
|
|
|
TOTAL |
2045.056 |
1782.446 |
1731.301 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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SALES |
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Income |
2842.198 |
2834.829 |
2970.724 |
|
|
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Other Income |
24.844 |
16.816 |
13.011 |
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|
|
TOTAL (A) |
2867.042 |
2851.645 |
2983.735 |
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1686.988 |
1643.618 |
1858.673 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(6.541) |
22.657 |
(24.635) |
|
|
|
Employees benefits expense |
104.297 |
99.912 |
97.780 |
|
|
|
Other expenses |
489.342 |
511.162 |
473.579 |
|
|
|
Extraordinary Items |
9.009 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
2283.095 |
2277.349 |
2405.397 |
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|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
583.947 |
574.296 |
578.338 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.463 |
36.904 |
72.205 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
577.484 |
537.392 |
506.133 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
78.601 |
71.265 |
69.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
498.883 |
466.127 |
436.522 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
141.131 |
36.946 |
64.130 |
|
|
|
|
|
|
|
|
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|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
357.752 |
429.181 |
372.392 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
273.306 |
203.982 |
224.038 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
0.000 |
7.775 |
7.390 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
238.50 |
286.12 |
219.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
12.59 |
15.14 |
12.54 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
20.55 |
20.26 |
19.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.84 |
26.28 |
25.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.37 |
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13 |
0.15 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.30 |
1.87 |
1.10 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
34.000 |
34.000 |
34.000 |
|
Reserves & Surplus |
793.240 |
1221.014 |
1577.208 |
|
Net
worth |
827.240 |
1255.014 |
1611.208 |
|
|
|
|
|
|
long-term Borrowings |
190.913 |
63.480 |
21.185 |
|
Short-term Borrowings |
298.095 |
120.041 |
191.073 |
|
Total
borrowings |
489.008 |
183.521 |
212.258 |
|
Debt/Equity
ratio |
0.591 |
0.146 |
0.132 |
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 |
2970.724 |
2834.829 |
2842.198 |
|
|
|
-4.574 |
0.260 |
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 |
2970.724 |
2834.829 |
2842.198 |
|
Profit |
372.392 |
429.181 |
357.752 |
|
|
12.54% |
15.14% |
12.59% |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS
|
HIGH COURT OF BOMBAY |
||||
|
CASE DETAILS |
||||
|
BENCH:- BOMBAY |
||||
|
PRESENTATION DATE: 21/01/2015 |
||||
|
STAMP NO:- WPST/1728/2015 |
FILING DATE:- 21/01/2015 |
|||
|
PETITIONER:- |
MAHARASHTRA STATE ELECTRICITY DISTRIBUTION COMPANY LIMITED |
RESPONDENT:- |
SHRIRAM FOUNDRY LIMITED |
|
|
PETN.ADV:- |
DSK LEGAL (I1590) |
RESP. ADV.: |
RAKESH KUMAR SINGH (I5768) |
|
|
DISTRICT:- |
KOLHAPUR |
|||
|
BENCH:- |
SINGLE |
|
|
|
|
STATUS:- |
PRE-ADMISSION |
|
|
|
|
LAST DATE:- |
28/01/2015 |
STAGE:- |
|
|
|
LAST CORAM:- |
REGISTRAR (JUDICIAL) |
|||
|
|
|
|||
|
ACT:- |
ELECTRICITY SUPPLIES ACT, 1948 |
|||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10378327 |
24/05/2013 * |
40,000,000.00 |
BANK OF BARODA |
SHIVAJI CHOWK BRANCH, KOLHAPUR, MAHARASHTRA - 416012, INDIA |
B78291457 |
|
2 |
10378323 |
24/05/2013 * |
50,000,000.00 |
BANK OF BARODA |
SHIVAJI CHOWK BRANCH, KOLHAPUR, MAHARASHTRA - 416012, INDIA |
B78291754 |
|
3 |
10378325 |
24/05/2013 * |
100,000,000.00 |
BANK OF BARODA |
SHIVAJI CHOWK BRANCH, KOLHAPUR, MAHARASHTRA - 416012, INDIA |
B78292109 |
|
4 |
10344581 |
15/03/2012 |
10,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
C.T.S.NO.1716, E WARD, RAJARAMPURI 7TH LANE, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
B35897198 |
|
5 |
10344575 |
15/03/2012 |
70,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
C.T.S.NO.1716, E WARD, RAJARAMPURI 7TH LANE, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
B35896547 |
|
6 |
10224696 |
21/05/2010 |
150,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RAJARAMPURI BRANCH, RAJARAMPURI 7TH LANE, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
A87684619 |
|
7 |
90092501 |
05/02/2007 * |
85,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
KOLHAPUR BRANCH, RAJARAMPURI, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
- |
|
8 |
90092250 |
27/01/2005 * |
2,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
FOREIN EXCHANGE DEPARTMENT, PUNE MUMBAI ROAD; PIMPRI, PUNE, MAHARASHTRA, INDIA |
- |
|
9 |
90091125 |
11/06/2008 * |
80,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
KOLHAPUR BRANCH, RAJARAMPURI, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
A42293670 |
|
10 |
10212460 |
18/02/1999 |
75,400,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
KOLHAPUR BRANCH, RAJARAMPURI, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
A54379029 |
|
11 |
90090873 |
18/02/2009 * |
105,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
KOLHAPUR BRANCH, RAJARAMPUR, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
A60314036 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances, others |
21.185 |
21.185 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
81.563 |
49.340 |
|
Total |
102.748 |
70.525 |
ECONOMIC SCENE
The automobile industry including manufacturers of Commercial Vehicles, Passenger Vehicles, Tractors, etc. sources the various components for engine and body from other manufacturers of these components. As per the report from Society of Indian Automobile Manufacturers (SIAM), it is expected that the turnover of Auto component industry will grow by 10-12%.
However, the Auto Component Industry is exposed to cyclical downturns. The continuous increase in prices of base metals, power the fuel is not compensated fully by increase in sale price of components since the prices are controlled by large industrial companies and market competition. This always leads to reduce profitability. Availability of trained and qualified labour is a serious obstacle in growth. Hence, there is always a compulsion of automisation of plant and machinery.
In spite of all these limitations and pressures, your company is trying to increase the turnover by developing new cost effective products by advanced manufacturing techniques.
FINANCE
The company has reduced long term borrowings to Rs. 21.200 Million as on 31/03/2014 from Rs. 63.400 Million as on 31/03/2013. The Directors place on record sincere thanks for the co-operation extended by the Bankers viz, The Sarswat Co-op Bank Limited, IDBI Bank, HDFC Bank, etc.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
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. 63.61 |
|
|
1 |
Rs. 96.56 |
|
Euro |
1 |
Rs. 69.18 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
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 |
|
50 |
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.