MIRA INFORM REPORT
|
Report No. : |
336609 |
|
Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SONA KOYO STEERING SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
UGF-6, Indraprakash, 21, Barakhamba Road, New Delhi –
110001 |
|
Tel. No.: |
91-11-23311924 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
14.06.1984 |
|
|
|
|
Com. Reg. No.: |
55-018415 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 198.742 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
Not Available |
|
|
|
|
IEC No.: |
L29113DL1984PLC018415 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS45576G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS7787C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the manufacture of steering systems
and other auto components for the passenger car and utility vehicle
manufacturers. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 |
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|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked by
adequate net worth base along with favorable debt protection metrics and
sound profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment.
The company cab be considered good for normal 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan = A+ |
|
Rating Explanation |
Adequate degree
of safety and low credit risk. |
|
Date |
February 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short- Term Fund
Based Limits = A1 |
|
Rating Explanation |
Very strong
degree of safety and carry lowest credit risk. |
|
Date |
February 2015 |
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 DENIED BY
|
Name : |
Mr. Rajiv Chandra |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-124-4685000 |
LOCATIONS
|
Registered Office : |
UGF- 6, Indraprakash, 21, Barakhamba Road, New Delhi –
110001, India |
|
Tel. No.: |
91-11-23311924/ 23327205 |
|
Fax No.: |
91-11-23327205 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
38/6, NH - 8, Delhi - Jaipur Road, Gurgaon -122001, Haryana, India |
|
Tel. No.: |
91-124-4685000 |
|
Fax No.: |
91-124-4104611/ 4104621 |
|
E-Mail : |
|
|
Total Site Area: |
56970 sq. m |
|
Total Floor
Area: |
14125 sq. m |
|
|
|
|
Factory 2 : |
P.O. Box 14, Chennai – Bangalore Highway (NH – 4), Sriperumpudur, District Chinglepet-602105, Tamilnadu, India |
|
Tel. No.: |
91-44-37170000 |
|
Fax No.: |
91-44-27162349 |
|
Total Site Area: |
56970 sq. m |
|
Total Floor
Area: |
10890 sq. m |
|
|
|
|
Factory 3 : |
Plot No.32, Industrial Area, Phase II, Dharuhera, District Rewari, Haryana, India |
|
Tel. No.: |
91-1274-242978/ 82 |
|
Total Site Area: |
20117 sq. m |
|
Total Floor
Area: |
9255 sq. m |
|
|
|
|
Factory 4 : |
Plot No.D9, TML Vendor Park, Survey No.1, Village Northcotepura, Sanand, Ahmedabad, Gujarat, India |
|
Total Site Area: |
16200 sq. m |
|
Total Floor
Area: |
2639 sq. m |
|
|
|
|
Factory 5 : |
Plot No. 19, Industrial Area, Dharuhera, District Rewari, Haryana, India |
|
|
|
|
Factory 6 : |
Village Malpura, Tehsil
Dharuhera, Distract Rewari, Haryana, India |
|
|
|
|
Factory 7 : |
Plot No. 731, Sector 37C,
Pace City II, Gurgaon (Haryana), India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Surinder
Kapur |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
70 Years |
|
Qualification : |
Ph. D.(Mechanical Engineering), Michigan State University, U.S.A. |
|
Experience : |
40 Years |
|
Date of Appointment : |
01.10.1990 |
|
|
|
|
Name : |
Mr. Sunjay Kapur |
|
Designation : |
Vice Chairman and Managing Director |
|
Date of Birth/Age : |
40 Years |
|
Qualification : |
Graduate in Business Admn. From Buckingham University, U.K. |
|
Experience : |
18 Years |
|
Date of Appointment : |
22.10.2011 |
|
DIN No.: |
00145529 |
|
|
|
|
Name : |
Mr. Kiyozumi
Kamiki |
|
Designation : |
Dy. Managing Director (Nominee of JTEKT
Corporation, Japan) |
|
Date of Birth/Age : |
58 Years |
|
Qualification : |
Graduation in engineering from Ehime
University and also attained a Master’s Degree. |
|
|
|
|
Name : |
Mr. Hiroyuki
Miyazaki |
|
Designation : |
Nominee of JTEKT
Corporation, Japan |
|
|
|
|
Name : |
Mr. Kazuhiko Ayabe |
|
Designation : |
Nominee of Maruti Suzuki India Limited |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
Graduate from Department of Mechanical
Engineering, College of Sophia University. |
|
|
|
|
Name : |
Mr. Jug Mohan
Kapur |
|
Designation : |
Director |
|
Date of Birth/Age : |
72 Years |
|
|
|
|
Name : |
Mr. Ramesh Suri |
|
Designation : |
Director |
|
DIN No.: |
00176488 |
|
Date of Appointment: |
23.09.2014 |
|
|
|
|
Name : |
Mr. Ravi
Bhoothalingam |
|
Designation : |
Director |
|
DIN No.: |
00194530 |
|
Date of Appointment: |
23.09.2014 |
|
|
|
|
Name : |
Mr. P. K. Chadha |
|
Designation : |
Director |
|
DIN No.: |
00245680 |
|
Date of Appointment: |
23.09.2014 |
|
|
|
|
Name : |
Lt. Gen. (Retired) Shamsher Singh Mehta |
|
Designation : |
Director |
|
DIN No.: |
02201929 |
|
Date of Appointment: |
23.09.2014 |
|
|
|
|
Name : |
Ms. Ramni Nirula |
|
Designation : |
Director |
|
DIN No.: |
00015330 |
|
Date of Appointment: |
23.09.2014 |
|
|
|
|
Name : |
Mr. Prasan Abhaykumar Firodia |
|
Designation : |
Director |
|
DIN No.: |
00029664 |
|
Date of Appointment: |
23.09.2014 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir Chopra |
|
Designation : |
President And Company Secretary |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
B.Com, FCS, LL.B. |
|
Experience : |
36 Years |
|
Date of Appointment : |
15.05.1993 |
|
|
|
|
Name : |
Mr. Rajiv Chandra |
|
Designation : |
Chief Finance Officer |
|
|
|
|
Executive
Management : |
|
|
|
|
|
Operating
Management : |
|
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding
as a % of Total No. of Shares |
|
(A)
Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
784897 |
0.39 |
|
|
63748304 |
32.08 |
|
|
64533201 |
32.47 |
|
|
|
|
|
|
39947108 |
20.10 |
|
|
39947108 |
20.10 |
|
Total
shareholding of Promoter and Promoter Group (A) |
104480309 |
52.57 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
1099404 |
0.55 |
|
|
135234 |
0.07 |
|
|
1200000 |
0.60 |
|
|
731853 |
0.37 |
|
|
3166491 |
1.59 |
|
|
|
|
|
|
12877150 |
6.48 |
|
|
|
|
|
|
36786719 |
18.51 |
|
|
34175902 |
17.20 |
|
|
7255261 |
3.65 |
|
|
2000 |
0.00 |
|
|
2378279 |
1.20 |
|
|
112189 |
0.06 |
|
|
4762793 |
2.40 |
|
|
91095032 |
45.84 |
|
Total Public
shareholding (B) |
94261523 |
47.43 |
|
Total (A)+(B) |
198741832 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total |
198741832 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the manufacture of steering systems
and other auto components for the passenger car and utility vehicle
manufacturers. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
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Agencies Held : |
Not Divulged |
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|
|
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
|
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Bankers : |
· State Bank of India · Standard Chartered Bank · Corporation Bank · State Bank of Hyderabad · EXIM Bank · Allahabad Bank · Indian Bank · Yes Bank Limited · Kotak Mahindra Bank Limited ·
IndusInd Bank Limited |
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Facilities : |
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Auditors : |
|
|
Name : |
S P Puri and Company Chartered Accountants |
|
Address : |
4/18, Asaf Ali Road, New Delhi – 110002, India |
|
|
|
|
Internal Auditors : |
|
|
Name : |
Ernst and Young LLP |
|
Address : |
Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon – 122002, Haryana, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
Gurdeep Singh and Associates Cost Accountants |
|
Address : |
3238, Ranjit Nagar, Near Metro Station Patel Nagar, New Delhi – 110008, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
The entity having
substantial interest in the Company : (As on 31.03.2014) |
JTEKT Corporation, Japan |
|
|
|
|
Others (Significant
Influence) : (As on 31.03.2014) |
|
|
|
|
|
Subsidiaries : (As on 31.03.2014) |
|
|
|
|
|
Associates: (As on 31.03.2014) |
|
CAPITAL STRUCTURE
AS on 31.03.2015
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 198.742 Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
271000000 |
Equity Shares |
Re.1/- each |
Rs.271.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
198741832 |
Equity Shares |
Re.1/- each |
Rs. 198.742
Million |
(a)
Reconciliation of the equity shares outstanding at the
beginning and at the end of reporting year
|
Reconciliation |
31.03.2014 |
|
|
|
|
|
|
|
No. of shares |
Rs. in Million |
|
Shares outstanding at the beginning of the year |
198741832 |
198.742 |
|
Shares issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
198741832 |
198.742 |
(b)
Terms/rights
attached to equity shares
The Company has only one class of equity shares having a par value of Rs. 1/- per share. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
(c)
Detail of shareholders holding more than 5% shares in
the company.
|
Name of Shareholders |
31.03.2014 |
|
|
|
No. of shares |
% of Holding |
|
Equity share of Re.1/- each fully paid |
|
|
|
Sona Autocomp Holding Limited (Earlier Known as Sona Autocomp Holding Private Limited) |
49914664 |
25.12% |
|
JTEKT Corporation, Japan |
39947108 |
20.10% |
|
Maruti Suzuki India Limited |
13800000 |
6.94% |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
198.742 |
198.742 |
198.742 |
|
(b) Reserves & Surplus |
2422.801 |
2465.642 |
2232.148 |
|
(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) |
2621.543 |
2664.384 |
2430.890 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1453.641 |
1610.573 |
1973.317 |
|
(b) Deferred tax liabilities
(Net) |
289.500 |
390.058 |
391.281 |
|
(c) Other long term
liabilities |
3.386 |
5.080 |
4.446 |
|
(d) long-term provisions |
51.037 |
45.290 |
43.552 |
|
Total
Non-current Liabilities (3) |
1797.564 |
2051.001 |
2412.596 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
388.434 |
482.301 |
498.976 |
|
(b) Trade payables |
1431.006 |
1528.832 |
1467.057 |
|
(c) Other current liabilities |
946.137 |
864.291 |
886.772 |
|
(d) Short-term provisions |
181.606 |
209.109 |
176.734 |
|
Total
Current Liabilities (4) |
2947.183 |
3084.533 |
3029.539 |
|
|
|
|
|
|
TOTAL |
7366.290 |
7799.918 |
7873.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3825.368 |
4025.072 |
4014.074 |
|
(ii) Intangible Assets |
231.395 |
189.641 |
195.760 |
|
(iii) Capital work-in-progress |
479.730 |
553.200 |
249.901 |
|
(iv) Intangible assets under
development |
141.802 |
121.116 |
64.794 |
|
(b) Non-current Investments |
354.819 |
346.281 |
687.707 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
65.164 |
84.635 |
83.672 |
|
(e) Other Non-current assets |
1.647 |
2.069 |
1.922 |
|
Total
Non-Current Assets |
5099.925 |
5322.014 |
5297.830 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
716.238 |
710.844 |
544.595 |
|
(c) Trade receivables |
1166.477 |
1390.908 |
1558.006 |
|
(d) Cash and cash equivalents |
23.479 |
20.611 |
14.725 |
|
(e) Short-term loans and
advances |
194.105 |
263.349 |
235.847 |
|
(f) Other current assets |
166.066 |
92.192 |
222.022 |
|
Total
Current Assets |
2266.365 |
2477.904 |
2575.195 |
|
|
|
|
|
|
TOTAL |
7366.290 |
7799.918 |
7873.025 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
10786.351 |
10429.952 |
11185.626 |
|
|
Other Income |
41.791 |
403.128 |
55.661 |
|
|
TOTAL
(A) |
10828.142 |
10833.080 |
11241.287 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
6994.655 |
7141.883 |
7699.37 |
|
|
Purchases of Stock-in-Trade |
197.314 |
194.851 |
178.431 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.686) |
(124.313) |
(42.849) |
|
|
Employees benefits expense |
1196.872 |
1104.892 |
1067.377 |
|
|
Other expenses |
1174.057 |
1093.434 |
1075.231 |
|
|
TOTAL
(B) |
9561.212 |
9410.747 |
9977.560 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
1266.930 |
1422.333 |
1263.727 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
249.259 |
318.943 |
335.227 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1017.671 |
1103.390 |
928.500 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
779.974 |
490.985 |
431.781 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
237.697 |
612.405 |
496.719 |
|
|
|
|
|
|
|
Less |
TAX (H) |
57.925 |
66.385 |
162.849 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
179.772 |
546.020 |
333.870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
890.262 |
624.431 |
|
|
TOTAL
EARNINGS |
NA |
890.262 |
624.431 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
31.811 |
97.616 |
|
|
Components and Stores parts |
NA |
1326.058 |
1311.305 |
|
|
Capital Goods |
NA |
240.522 |
288.166 |
|
|
TOTAL
IMPORTS |
NA |
1598.391 |
1697.087 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.90 |
2.60 |
1.54 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
1065.099 |
992.876 |
|
Cash generated from operations |
NA |
10912.51 |
6667.380 |
|
Net cash from operating activities |
NA |
962.584 |
568.665 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.67 |
5.24 |
2.98 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.75 |
13.64 |
11.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.72 |
9.03 |
7.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.23 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.70 |
1.19 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77 |
0.80 |
0.85 |
STOCK
PRICES
|
Face Value |
Rs.1.00/- |
|
Market Value |
Rs.67.60/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
198.742 |
198.742 |
198.742 |
|
Reserves & Surplus |
2232.148 |
2465.642 |
2422.801 |
|
Net
worth |
2430.890 |
2664.384 |
2621.543 |
|
|
|
|
|
|
long-term borrowings |
1973.317 |
1610.573 |
1453.641 |
|
Short term borrowings |
498.976 |
482.301 |
388.434 |
|
Total
borrowings |
3465.169 |
3157.973 |
1842.075 |
|
Debt/Equity
ratio |
1.425 |
1.185 |
0.703 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
11185.626 |
10429.952 |
10786.351 |
|
|
|
(6.756) |
3.417 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
11185.626 |
10429.952 |
10786.351 |
|
Profit |
333.870 |
546.020 |
179.772 |
|
|
2.98% |
5.24% |
1.67% |
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
IN THE HIGH COURT OF DELHI AT NEW DELHI |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10580169 |
30/06/2015 |
50,000,000.00 |
INDUSIND BANK LTD. |
DR. GOPAL DAS BUILDING, 28,
BARAKHAMBA ROAD, NEW |
C59025494 |
|
2 |
10580306 |
30/06/2015 |
400,000,000.00 |
ALLAHABAD BANK |
FIRST FLOOR, INDUSTRIAL FINANCE
BRANCH, 17, PARLI |
C59092874 |
|
3 |
10580310 |
30/06/2015 |
30,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, FIRST
FLOOR ,17, PARLI |
C59094383 |
|
4 |
10534542 |
08/01/2015 * |
400,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 14TH
FLOOR, JAWAHAR VY |
C40437949 |
|
5 |
10435312 |
14/10/2014 * |
372,000,000.00 |
STANDARD CHARTERED BANK |
(ACTING AS AN SECURITY AGENT)
CDU, NARAIN MANZIL |
C32612640 |
|
6 |
10393321 |
14/10/2014 * |
300,000,000.00 |
INDUSIND BANK LIMITED. |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
C31793656 |
|
7 |
10389062 |
14/10/2014 * |
300,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 14TH
FLOOR, JAWAHAR VY |
C31797095 |
|
8 |
10341233 |
14/10/2014 * |
250,000,000.00 |
STANDARD CHARTERED BANK |
(Acting as an Security Agent)
CDU,, NARAIN MANZIL , 23 BARAKHAMBA ROAD, NEW DELHI, Delhi - 110001,
I |
C32612871 |
|
9 |
10309839 |
14/10/2014 * |
100,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7TH FLOOR, AMBADEEP BUILDING,, 14, K. G. MARG, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
C31911944 |
|
10 |
10292330 |
14/10/2014 * |
180,000,000.00 |
STANDARD CHARTERED BANK |
(ACTING AS AN SECURITY AGENT) CDU,, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
C32613564 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
Claims
against the Company not acknowledged as debt on account of : (a)
Excise Duty i)
Show cause notice received and pending with Adjudication Authority |
NA |
161.542 |
|
ii)
Cases pending before Appellate authorities in respect of which the company
has filed appeals. |
NA |
8.452 |
|
(b)
Service Tax i)
Show cause notice received and pending with Adjudication Authority |
NA |
11.409 |
|
ii)
Cases pending before Appellate authorities in respect of which the company
has filed appeals/ show cause notices. |
NA |
22.881 |
|
(c)
VAT Haryana i)
Local Area Development Tax (LADT) levied by Assessing Authority Gurgaon. Writ
Petition civil pending with Supreme Court |
NA |
80.986 |
|
(d)
Customs Duty i)
Show cause notice received from adjudication authority (DGFT) for advance
license |
NA |
0.625 |
|
ii)
Case of valuation of import goods with special valuation branch under custom
act *
Includes penalty wherever indicated in the order and interest calculated up
to 31-03-2014 |
NA |
8.125 |
|
(e)
Income Tax i)
Cases pending before Courts / Appellate Authorities in respect of which the
Company has filed appeal |
NA |
0.000 |
|
(f)
Customer's claim against Company |
NA |
0.000 |
|
II)
Customer bills discounted |
NA |
30.000 |
|
III)
Letter of credit opened by banks for purchase of inventory / Capital goods |
NA |
39.757 |
|
Total |
NA |
395.0084 |
FIXED ASSETS
Tangible assets
- Freehold land
- Leasehold land
- Buildings
- Lease hold improvements
- Plant and equipment
- Jigs and fixtures
- Electric installations
- Furniture and fixtures
- Office equipment
- Vehicles
- Plant and equipment
- Office equipment
Intangible Assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.64.83 |
|
UK Pound |
1 |
Rs.101.00 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
-- |
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
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 |
|
60 |
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.