MIRA INFORM REPORT
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Report No. : |
336436 |
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Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
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Name : |
JOHNSON CONTROLS
AUTOMOTIVE LIMITED (w.e.f.03.04.2013) |
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Formerly Known
as : |
JOHNSON CONTROLS AUTOMOTIVE PRIVATE LIMITED TATA JOHNSON CONTROLS AUTOMOTIVE LIMITED |
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Registered
Office : |
Plot No.1, Survey No. 235/245, Hinjewadi, Taluka Mulsi, Pune – 411027,
Maharashtra |
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Tel No : |
91-20-66738888 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.01.1998 |
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Com. Reg. No.: |
11-015038 |
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Capital
Investment / Paid-up Capital : |
Rs. 127.000 Million |
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CIN No.: [Company Identification
No.] |
U34300PN1996PLC015038 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacture of automotive seating systems catering to Original Equipment Manufacturers. |
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No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 4000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. Fundamentals of the company are decent. Financial position of the
company is strong and healthy. Rating also takes into consideration low debt
level. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered for business dealings at usual business
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating AA- (Placed on Notice of withdrawal) |
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Rating Explanation |
High degree of safety and very low credit risk |
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Date |
December 29, 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
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAIL)
|
Name : |
Mr. MG Mulla |
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Designation : |
Key executive |
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Contact No.: |
91-20-66738888 |
LOCATIONS
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Registered Office : |
Plot No.1, Survey No. 235/245, Hinjewadi, Taluka Mulsi, Pune – 411027,
Maharashtra, India |
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Tel. No.: |
91-20-66738888/ 22932115 |
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Fax No.: |
91-20-66738989/ 22932638 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Production Plants : |
· Tata Motors Vendor Park, Plot No. A-1, S.No.1, North Kotpura, P.O. Viroch Nagar, Sanand, Ahmedabad – 382170, Gujarat, India · Plot No. 1, Toyota Kirloskar Motor OSS Park, Bidadi Industrial Area, Bidadi, Bangalore – 562109, Karnataka, India · Plot No. 2, Ford India Supplier Park, S P Koil Post, Chengalpattu, Chennai – 603204, Tamilnadu, India · Plot. No. 173, Belur Industrial Estate, Near SBI Bank, Belur, Dharwad – 580011, Karnataka, India · Outer Complex, Bay 9 and 10, TATA Motors Limited, H.S. Road, Jamshedpur – 831004, Jharkhand, India · E-11, UPSIDC Industrial Area, Dewa Road Chinhat, Lucknow – 226016, Uttar Pradesh, India · D-116, Hosiery Complex, Phase-II, Noida – 201305, Uttar Pradesh, India · Plot No. 1, Survey No. 235 and 245, Hinjewadi, Taluka Mulshi, Pune – 411057, Maharashtra, India · CTS No.4270, Elpro Premises, Chinchwad, Pune – 411033, Maharashtra, India |
DIRECTORS
As on : 28.11.2014
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Name : |
Mr. Stevens David Mark |
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Designation : |
Director |
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Address : |
237, Arccadia Road, #09-03, Block B, Singapore |
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Date of Birth/Age : |
25.05.1961 |
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Date of Appointment : |
29.09.2008 |
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DIN No.: |
01764752 |
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Name : |
Mr. Singh Lakhan Kuldeep |
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Designation : |
Director |
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Address : |
SE 175, B. Block Sharita Nagar, Ghaziabad – 200002, Uttar Pradesh,
India |
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Date of Birth/Age : |
11.08.1977 |
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Date of Appointment : |
28.11.2014 |
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DIN No.: |
05351668 |
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Name : |
Mr. Rajgopalam Kaliyur Murali |
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Designation : |
Whole time Director |
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Address : |
A/9, 201, Ganga Satellite Wanoie, Pune – 41104, Maharashtra, india |
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Date of Birth/Age : |
20.06.1963 |
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Date of Appointment : |
28.11.2014 |
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DIN No.: |
06743639 |
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Other Directorship :
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Name : |
Mr. Ashley Semple Steve |
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Designation : |
Director |
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Address : |
C1/3, Vasant Vihar, New Delhi – 111057, India |
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Date of Birth/Age : |
01.09.1965 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06483237 |
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Name : |
Mr. Goswami Mathur Triveni |
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Designation : |
Director |
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Address : |
Flat no. E 504, Rohan Garima SNO 103, Bhmburda A/10 -11, Pune –
411016, Maharashtra, India |
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Date of Birth/Age : |
15.08.1965 |
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Date of Appointment : |
14.10.2014 |
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DIN No.: |
06987988 |
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Name : |
Mr. Prabhakar Nadkarni Pradip |
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Designation : |
Director |
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Address : |
484757 Mitra Mandal Colony, Shankar Nagar, Parvati, Pune – 411009,
Maharashtra, India |
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Date of Birth/Age : |
14.10.2014 |
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Date of Appointment : |
14.10.2014 |
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DIN No.: |
01670826 |
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Other Directorship :
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Name : |
Mr. Gautam Bose |
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Designation : |
33200, Oakland Avenue, Farmington, MI 48336-2334,, Michigan, USA, Michigan, NA, , United States of America |
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Address : |
Additional Director |
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Date of Appointment : |
28.11.2014 |
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DIN No.: |
07029450 |
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KEY EXECUTIVES
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Name : |
Mr. MG Mulla |
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Designation : |
Key executive |
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Name : |
Ms. Chanchal Nandlal Mittal |
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Designation : |
Secretary |
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Address : |
Nikhil APTS R NO, 10/A, Bhau Patil Road, Bopodi, Pune – 411003,
Maharashtra, India |
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Date of Birth/Age : |
18.12.1988 |
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Date of Appointment : |
01.03.2014 |
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PAN No.: |
AQCPM9699K |
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Name : |
Mr. Rishi Mehta |
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Designation : |
Chief Executive Officer |
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Address : |
84 Arya Nagar Sardhana Road, Kanker Khera, Kanker Khera, 250001, Uttar Pradesh, India |
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Date of Appointment : |
30/06/2014 |
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PAN No.: |
Alspm4373r |
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Name : |
Mr. Amritav Basu |
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Designation : |
Secretary |
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Address : |
26a, Gopal Mishra Road, Kolkata, Municipal Corporation, Behala South 24, Parganas, 700034, West Bengal, India |
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Date of Appointment : |
01/03/2015 |
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PAN No.: |
Apupb9305c |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 28.11.2014
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Names of Shareholders |
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No. of Shares |
|
Johnson Controls International B.V, Netherlands |
|
6350000 |
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Johnson Controls Auto India Limited, UK |
|
295 |
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Johnson Controls Auto India Limited, UK |
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6349700 |
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JCAL Jt. With Mr. Gautam Bose |
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1 |
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JCAL Jt. With Mr. Kuldeep Singh |
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1 |
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JCAL Jt. With Mr. Steven Semple |
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1 |
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JCAL Jt. With Mr. Mark S tevens |
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1 |
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JCAL Jt. With Mr. Murli Rajgopalan |
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1 |
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Total |
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12700000 |
As on : 28.11.2015
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacture of automotive seating systems catering to Original Equipment Manufacturers. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Price Warehouse and Company Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India |
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PAN No.: |
AAHFP0187A |
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Ultimate Holding Company: |
Johnson Controls INC |
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Join Venture : |
Autocomp Systems Limited |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on : 28.11.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
12700000 |
Equity Shares |
Rs.10/- each |
Rs.127.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
12700000 |
Equity Shares |
Rs.10/- each |
Rs.127.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
127.000 |
127.000 |
127.000 |
|
(b) Reserves & Surplus |
1292.390 |
949.770 |
729.500 |
|
(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) |
1419.390 |
1076.770 |
856.500 |
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|
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(3) Non-Current Liabilities |
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|
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(a) long-term borrowings |
58.980 |
17.390 |
34.960 |
|
(b) Deferred tax liabilities
(Net) |
28.000 |
17.000 |
7.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
35.610 |
73.130 |
67.410 |
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Total
Non-current Liabilities (3) |
122.590 |
107.520 |
109.370 |
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(4) Current Liabilities |
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|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
1351.320 |
1589.530 |
1530.830 |
|
(c) Other current liabilities |
216.420 |
223.260 |
174.690 |
|
(d) Short-term provisions |
189.720 |
133.790 |
302.700 |
|
Total
Current Liabilities (4) |
1757.460 |
1946.580 |
2008.220 |
|
|
|
|
|
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TOTAL |
3299.440 |
3130.870 |
2974.090 |
|
|
|
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II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1095.360 |
1036.570 |
792.020 |
|
(ii) Intangible Assets |
25.350 |
1.770 |
6.670 |
|
(iii) Capital work-in-progress |
1.100 |
0.000 |
209.390 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
33.320 |
33.320 |
33.320 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
153.490 |
71.740 |
79.530 |
|
(e) Other Non-current assets |
0.410 |
3.380 |
22.180 |
|
Total
Non-Current Assets |
1309.030 |
1146.780 |
1143.110 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
400.690 |
461.770 |
287.310 |
|
(c) Trade receivables |
830.010 |
1063.950 |
887.400 |
|
(d) Cash and cash equivalents |
384.900 |
195.690 |
430.520 |
|
(e) Short-term loans and
advances |
165.200 |
127.740 |
202.390 |
|
(f) Other current assets |
209.610 |
134.940 |
23.360 |
|
Total
Current Assets |
1990.410 |
1984.090 |
1830.980 |
|
|
|
|
|
|
TOTAL |
3299.440 |
3130.870 |
2974.090 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
8798.750 |
7617.300 |
8562.260 |
|
|
Other Income |
46.850 |
94.110 |
104.160 |
|
|
TOTAL
(A) |
8845.600 |
7711.410 |
8666.420 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5653.500 |
6615.050 |
6076.740 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
62.350 |
(90.170) |
(1.040) |
|
|
Employees benefits expense |
1406.860 |
1133.750 |
961.770 |
|
|
Other expenses |
1028.820 |
767.820 |
725.970 |
|
|
TOTAL
(B) |
8151.530 |
8426.450 |
7763.440 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
694.070 |
(715.040) |
902.980 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.690 |
7.670 |
6.610 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
674.380 |
(722.710) |
896.370 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
165.220 |
158.900 |
134.590 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
509.160 |
(881.610) |
761.780 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
166.300 |
213.420 |
222.610 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
342.860 |
(1095.030) |
539.170 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
587.310 |
722.160 |
NA |
|
|
Components and Stores parts |
5.160 |
2.890 |
NA |
|
|
Capital Goods |
52.620 |
31.320 |
NA |
|
|
TOTAL
IMPORTS |
645.090 |
756.370 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
26.98 |
41.73 |
42.45 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
18.520 |
17.480 |
17.480 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
436.620 |
878.260 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.90 |
(14.38) |
6.30 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
7.89 |
(9.39) |
10.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.59 |
(28.46) |
27.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
(0.82) |
0.89 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.05 |
0.03 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.02 |
0.91 |
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 |
127.000 |
127.000 |
127.000 |
|
Reserves & Surplus |
729.500 |
949.770 |
1292.390 |
|
Net
worth |
856.500 |
1076.770 |
1419.390 |
|
|
|
|
|
|
long-term borrowings |
34.960 |
17.390 |
58.980 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long-Term Debts |
17.480 |
17.480 |
18.520 |
|
Total
borrowings |
52.440 |
34.870 |
77.500 |
|
Debt/Equity
ratio |
0.061 |
0.032 |
0.055 |
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 |
8562.260 |
7617.300 |
8798.750 |
|
|
|
(11.036) |
15.510 |
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 |
8562.260 |
7617.300 |
8798.750 |
|
Profit |
539.170 |
(1095.030) |
342.860 |
|
|
6.30% |
(14.38%) |
3.90% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
During the year under remove, the company
Revenue from operation increased by 8% compared to the previous financial year.
The net profit for the year remove has decreased by 2% compared to the previous
financial year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Long term maturities of finance lease obligations |
58.980 |
0.000 |
|
Total |
58.980 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90088417 |
14/06/2001 |
9,600,000.00 |
HEWLETT PACKARD INDIA LIMITED |
CHANDIWALLA ESTATE, MAA ANAND MAL MARG ; KALKAJI, NEW DELHI,
Delhi - 110019, INDIA |
- |
|
2 |
90084668 |
29/03/2010 * |
303,900,000.00 |
CORPORATION BANK |
ADITI COMMERCE CENTRE, EAST STREET CAMP, PUNE, Maharashtra - 411001,
INDIA |
A83378349 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Office
Building
- Factory
Building
- Plant and Equipment
- Factory
equipment
- Furniture and
Fixture
- Vehicle
- Motor vehicle
- Office
equipment
- Leasehold
improvement
- 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.64.04 |
|
|
1 |
Rs.99.03 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
8 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
|
63 |
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.