MIRA INFORM REPORT

 

 

Report No. :

337573

Report Date :

21.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SANDVIK ASIA PRIVATE LIMITED (w. e. f. 15.03.2010)

 

 

Formerly Known As :

SANDVIK ASIA LIMITED

 

 

Registered Office :

Sandvik Coromant, Mumbai – Pune Road, Dapodi, Pune-411012, Maharashtra

Tel. No.:

91-20-27104800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

08.07.1960

 

 

Com. Reg. No.:

11-011751

 

 

Capital Investment / Paid-up Capital :

Rs. 1196.000 Million

 

 

CIN No.:

[Company Identification No.]

U29299PN1960PTC011751

 

 

IEC No.:

0388016213

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNES00125G / PNES09024B

 

 

PAN No.:

[Permanent Account No.]

AACCS6638K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Trader of tungsten carbide tools, rock processing equipment, thermostatic electrical bimetal strips, wires, ribbons, heating elements, cold finished tubes/pipes and manufacturing of hot extruded seamless stainless steel tubes/pipes.

 

 

No. of Employees :

2300 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa (71)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a wholly owned subsidiary of Sandvik group, Sweden. It is a well-established company having fine track record.

 

The rating reflects company’s healthy financial risk profile marked by adequate liquidity position and strong networth base, established market position and fair profitability.

 

Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment.

 

In view of strong managerial and financial support from its parent company, the subject can 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

CRISIL

Rating

Long Term Rating = (AA-)

Rating Explanation

High degree of safety and very low credit risk.

Date

02.02.2015

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = (A1+)

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

02.02.2015

 

 

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 PARTED BY

 

Name :

Ms. Nisha Sakaria

Designation :

Company Secretary

Contact No.:

91-20-27104800

LOCATIONS

 

Registered Office :

Sandvik Coromant, Mumbai – Pune Road, Dapodi, Pune-411012, Maharashtra, India

Tel. No.:

91-20-27104800

Fax No.:

91-20-27149370

E-Mail :

aisha.sakaria@sandvik.com

Website :

http://www.sandvik.com

 

 

Sales Office :

Plot 49 and 49B, Sipcot Industrial Complex, Hosur – 635 126, Tamil Nadu, India

Tel No.:

91-4344-403500/579

Fax No.:

91-4344-403520

 

 

Branch Office :

Located at :

·         Maharashtra

·         West Bengal

·         New Delhi

·         Karnataka

·         Gujarat

·         Tamil Nadu

·         Haryana

·         Andhra Pradesh

·         Bengaluru

·         Gujarat

·         Hyderabad

·         Rajasthan

 

 

DIRECTORS

 

AS ON: 30.09.2014

 

Name :

Mr. Ajitkumar Daulatrao Jadhav

Designation :

Director

Address :

409, Shakala, Maharshi Karve Road, Church Gate, Mumbai – 400021, Maharashtra, India

Date of Birth/Age :

20.02.1947

Date of Appointment :

29.09.2009

DIN No.:

02071304

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U67120UP1987PLC008909

SAHARA INDIA FINANCIAL CORPORATION LIMITED

Director

30/08/2008

13/08/2008

26/03/2010

Active

NO

2

U29299PN1960PTC011751

SANDVIK ASIA Private Limited

Director

29/09/2009

23/06/2009

-

Active

NO

 

 

Name :

Mr. Suresh Narsappa Talwar

Designation :

Director

Address :

10, Shiv Shanti Bhavan, 146, Maharshi Karve Road, Church Gate, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

21.11.1937

Date of Appointment :

29.03.1989

DIN No.:

00001456

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U23200MH1980PTC022646

MOLY COLLOIDS PRIVATE LIMITED

Director

16/05/1980

16/05/1980

12/07/2007

Active

NO

2

U15430MH1948PTC006457

Mondelez India Foods Private Limited

Director

02/03/1981

02/03/1981

31/03/2011

Active

NO

3

U29196MH1981PTC024115

EMERSON PROCESS MANAGEMENT (INDIA) PRIVATE LIMITED

Director

25/03/1981

25/03/1981

22/12/2011

Active

NO

4

L29224TN1954PLC000318

CARBORUNDUM UNIVERSAL LIMITED

Director

08/06/1983

08/06/1983

24/07/2008

Active

NO

5

L99999MH1967PLC013726

MERCK LIMITED

Director

17/01/1984

17/01/1984

-

Active

NO

6

U92110MH1944PTC004242

TWENTIETH CENTURY FOX CORPORATION (INDIA) PRIVATE LIMITED

Director

06/02/1985

06/02/1985

-

Strike off

NO

7

L28920MH1949PLC006870

BLUE STAR LIMITED

Director

17/06/1986

17/06/1986

22/07/2013

Active

NO

8

L99999MH1982PLC026903

SHRENUJ AND COMPANY LIMITED

Director

30/12/1988

30/12/1988

-

Active

NO

9

U32104KL1981PLC003348

FCI OEN CONNECTORS LIMITED

Additional director

24/03/2015

20/02/1989

-

Active

NO

10

U29299PN1960PTC011751

SANDVIK ASIA Private Limited

Director

29/03/1989

29/03/1989

-

Active

NO

 

 

Name :

Parag Parshuram Satpute

Designation :

Managing Director

Address :

7 ITI Road, Parihar Chowk, Pune-411007, Maharashtra, India

Date of Birth/Age :

30.08.1973

Date of Appointment :

18.03.2014

DIN No.:

06872200

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29299PN1960PTC011751

SANDVIK ASIA Private Limited

Managing director

18/03/2014

18/03/2014

-

Active

NO

2

U28932PN1996PTC016924

SECO TOOLS INDIA PRIVATE LIMITED

Director

29/09/2014

27/03/2014

-

Active

NO

3

U29220PN2008PTC132855

DORMER TOOLS INDIA PRIVATE LIMITED

Director

30/09/2014

31/03/2014

-

Active

NO

4

U91110DL2008NPL177380

Swedish Chamber of Commerce India

Director

29/05/2014

29/05/2014

-

Active

NO

5

U51504PN2003PTC018195

WALTER TOOLS INDIA PRIVATE LIMITED

Director

30/09/2014

05/06/2014

-

Active

NO

 

 

Name :

Zhiqiang Zhang

Designation :

Additional Director

Address :

From No. 4, Building 49, No. 5, Beifengwolu, Haidan District, Beijing, NA, China

Date of Appointment :

05.12.2014

DIN No.:

07032330

Other Directorship:

 

 

KEY EXECUTIVES

 

Name :

Mrs. Nisha Amit Sakaria

Designation :

Secretary

Address :

B/B/93, Mahavir Park, Behind Big Bazar, Pune Satara Road, Pune – 411 037, Maharashtra, India

Date of Birth/Age :

10.11.1980

Date of Appointment :

19.09.2014

PAN No.:

ABWPH4412N

 

 

Name :

Jyotsna Rajesh Sharma

Designation :

Chief Financial officer

Address :

A-5 Garud Heritage, Baner, Pune- 411007, Maharashtra, India

Date of Appointment :

05.12.2014

PAN No.:

ABWPS7556C

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 30.09.2014

 

Names of Shareholders

 

No. of Shares

Sandvik AB, Sweden

 

1801241

Sandvik AB, Sweden

 

14229000

Sandvik Finance BV, Sweden

 

595705

Sandvik Finance BV, Sweden

 

73558700

Sandvik Heating Technology AB, Sweden

 

3144565

 

 

 

Total

 

93329211

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 30.09.2014

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of tungsten carbide tools, rock processing equipment, thermostatic electrical bimetal strips, wires, ribbons, heating elements, cold finished tubes/pipes and manufacturing of hot extruded seamless stainless steel tubes/pipes.

 

 

Products :

ITC Code:

Product Description:

8207 / 8466

Interchangeable tools for hand tools etc.

8209

Plates, sticks, tips

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished goods

Countries :
  • United States of America
  • Singapore

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Depend

 

 

Purchasing :

Depend

 

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Tungsten Carbide products including integral Rock Drill Steels, Bits, Detachable Bits, Extension Drill Steel Equipments, Inserts Tips, Dies, Nibs and other applications

 

Tonnes

No’s in

Millions

 

258

 

258

 

12.00

Sandvik Coromant Tools, Wear resisting Parts and similar products, mining and construction tools

No's in

Millions

1.48

1.48

1.46

Taps and solid carbide drills

No's in

Millions

1.26

0.83

0.60

Hydrogen gas

CU mtrs

700000

700000

--

Cobalt Metal and Compounds

Tones

70

70

64.40

Thermostatic bimetal/strip

 

Tones

100

--

26.00

High resistance electrical wires, strips and ribbons

Tones

600

200

176.10

Bimetal components, Heating elements and terminal rods

Nos.

@

@

1332753

Hot extruded steel pipes

Tones

--

10000

6922.00

Recycling of inserts

Tones

750

750

461.80

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

2300 (Approximately)

 

 

Bankers :

Banker Name

The Hong Kong And Shanghai Banking Corporation Limited

Branch Address

52/60; Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged
  • Citi Bank N A, 2413, Parmar House, East Street Camp, Pune 411001, Maharashtra, India
  • HSBC Bank

 

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loan from Banks

0.000

35.000

 

 

 

SHORT TERM BORROWING

 

 

Term Loan from Banks

9.000

441.000

 

 

 

Total

9.000

476.000

 

Auditors :

 

Name :

B S R and Company

Chartered Accountants

Address :

1st Floor, Lodha Excelus Apollo Mills, Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400 011, Maharashtra, India

PAN No.:

AAAFB9852F

 

 

Holding Company  :

Sandvik AB, Sweden

 

 

Subsidiaries :

Sandvik Mining and Construction Tools India Private Limited

 

 

Fellow Subsidiaries :

AUSTRALIA

·         Sandvik Australia Pty Limited

·         Sandvik Mining and Construction Adelaide Ltd

·         Sandvik Mining and Construction Australia Pty Limited

·         Sandvik Mining and Construction Exploration Pty Limited

·         Sandvik RC Tools Australia

 

AUSTRIA

·         Sandvik in Austria Ges.m.b.H.

·         Sandvik Mining and Construction G.m.b.H.

·         Sandvik Mining and Construction Materials Handling GmbH

·         Sandvik Mining and Construction Materials Handling GmbH and Company KG

·         Wolfram Bergbau und Hütten AG

 

BRAZIL

·         Sandvik do Brasil S.A.

·         Dormer Tools S.A.

·         Sandvik Materials Technology do Brasil S.A

·         Sandvik Mining and Construction do Brasil S.A.

 

CANADA

·         Production Unit in North Bay

·         Sandvik Canada, Inc.

·         Sandvik Materials Technology Canada SU

·         Sandvik Mining and Construction Canada Inc.

·         Sandvik SMC Loaders Burlington

 

CHILE

·         Sandvik Chile S.A.

·         Sandvik Mining and Construction Chile SA.

 

CHINA

·         Sandvik (Qingdao) Limited

·         Sandvik Hongkong Limited

·         Sandvik International Trading (Shanghai) Company Limited

·         Sandvik Materials Technology (China) Limited

·         Sandvik Mining and Construction (China) Company Limited

·         Sandvik Mining and Construction Trading (Shanghai) Company Limited

·         Sandvik Process Systems (Shanghai) Limited

·         Sandvik Sales and Trade (Shanghai) Company Limited

·         Sandvik Tooling Production (Langfang) Company Limited

 

COLOMBIA

·         Sandvik Colombia S.A.S.

 

CZECH REPUBLIC

·         Sandvik Chomutov Precision Tubes Spol. s.r.o.

 

FINLAND

·         Sandvik Mining and Construction OY

·         SMC Hollola PU

 

FRANCE

·         Gunther Tools S.A.S.

·         Sandvik Hard Materials S.A.S

·         Sandvik Materials Technology France S.A.S.

·         Sandvik Materials Technology Precitube

·         Sandvik Mining and Construction Chauny

·         Sandvik Mining and Construction France S.A.S.

·         Sandvik Mining and Construction Lyon S.A.S.

 

GERMANY

·         Prototyp-Werke GmbH

·         Sandvik Materials Technology Deutschland GmbH,

·         ZN Sandvik P and P

·         Sandvik Materials Technology Deutschland GmbH,

·         ZN Sandvik Process Systems

·         Sandvik Materials Technology Deutschland GmbH,

·         ZN Sandvik Surface Solutions

·         Sandvik Mining and Construction Central Europe GmbH

·         Sandvik Mining and Construction Crushing Technology GmbH

·         Sandvik Mining and Construction Europe GmbH

·         Sandvik Tooling Deutschland GmbH

·         Sandvik Tooling Deutschland GmbH, BU Sandvik Coromant

·         Sandvik Tooling Supply Schmalkalden,

·         Zweigniederlassung der Sandvik Tooling Deutschland GmbH

 

INDIA

·         Seco Tools

·         Walter Tools India Private Limited

 

INDONESIA

·         P.T. Sandvik Indonesia

 

IRELAND

·         Sandvik Mining and Construction Logistics Limited

 

ITALY

·         Dormer Italia S.p.A.

·         Sandvik Italia S.p.A.

 

 

JAPAN

·         Sandvik KK

·         Sandvik Tooling Supply Japan K.K.

 

KOREA (SOUTH)

·         Sandvik Korea Limited

·         Sandvik Suhjun Limited

 

MALAYSIA

·         Sandvik Malaysia Sdn Bhd

·         Sandvik Mining and Construction (M) Sdn Bhd

 

MEXICO

·         Sandvik de Mexico S.A. de C.V.

·         Sandvik Mining and Construction de Mexico S.A. de C.V.

 

NEW ZEALAND

·         Sandvik New Zealand Limited

 

NORWAY

·         Teeness ASA

 

PERU

·         Sandvik del Peru S.A.

 

PHILIPPINES

·         Sandvik Philippines Inc.

 

RUSSIAN FEDERATION

·         Sandvik Mining and Construction CIS LLC

 

SINGAPORE

·         Asia Pacific Distribution Center (APDC)

·         Sandvik Mining and Construction S.E.A. Pte. Limited

·         Sandvik South East Asia Pte. Limited

 

SOUTH AFRICA

·         Sandvik (Pty) Limited

·         Sandvik Mining and Construction Delmas Pty Limited

·         Sandvik Mining and Construction RSA (Pty) Limited

 

SPAIN

·         Sandvik Espanola S.A.

 

SWEDEN

·         AB Sandvik Coromant

·         AB Sandvik Hard Materials

·         AB Sandvik Materials Technology

·         AB Sandvik Process Systems

·         Dormer Tools AB

·         Sandvik Besoks Service AB

·         Sandvik Heating Technology AB

·         Sandvik Intellectual Property AB

·         Sandvik IT Services AB

·         Sandvik Machining Solutions AB

·         Sandvik Machining Solutions Sverige AB

·         Sandvik Materials Technology EMEA AB

·         Sandvik Mining and Construction AB

·         Sandvik Mining and Construction Koping AB

·         Sandvik Mining and Construction Sverige AB

·         Sandvik Mining and Construction Tools AB

·         Sandvik SRP AB

·         Wire Sandviken AB

·         AB Sandvik Information Technology

·         Sandvik Tooling Sverige AB

 

SWITZERLAND

·         Santrade Limited

 

TAIWAN

·         Sandvik Hard Materials Taiwan Pty Limited

·         Sandvik Taiwan Limited

 

THAILAND

·         Sandvik Thailand Limited

 

TURKEY

·         Sandvik E.M.S. Ticaret A.S.

 

UNITED KINGDOM

·         Dormer Tools Limited

·         Sandvik Bioline UK

·         Sandvik Coromant UK

·         Sandvik Medical Solutions - European Operations

·         Sandvik Mining and Construction Mobile Crushers

·         and Screens Limited

·         Sandvik Osprey Limited

·         Sandvik Saxon

·         Sandvik Tooling Supply GB

·         SHM Coventry UK

·         SHM Powder Production UK

 

UNITED ARAB EMIRATES

·         Sandvik Middle East FZE

 

UNITED STATES OF AMERICA

·         ADC ( AMERICAN DISTRIBUTION CENTRE

·         Driltech Company

·         Sandvik Finance B.V.

·         Sandvik Hard Materials US

·         Sandvik Materials Technology Company

·         Sandvik MGT

·         Sandvik Mining and Construction USA LLC

·         Sandvik Palm Coast Production Unit

·         Sandvik Special Metals LLC

·         SHM US - PU

·         SMC Region USA / Canada

 

ZAMBIA

·         Sandvik Mining and Construction Zambia Limited

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs.100/- each

Rs.1000.000 Million

87788000

Preference Shares

Rs.10/- each

Rs.877.880 Million

3145000

Preference Shares

Rs.25/- each

Rs.78.625 Million

1232000

Preference Shares

Rs.25/- each

Rs.30.800 Million

 

 

 

 

 

Total

 

Rs.1987.305 Million

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2396946

Equity Shares

Rs.100/- each

Rs.239.695 Million

87787700

Preference Shares

Rs.10/- each

Rs.877.877 Million

3144565

Preference Shares

Rs.25/- each

Rs.78.614 Million

 

 

 

 

 

Total

 

Rs.1196.186 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

1196.000

1149.000

1149.000

(b) Reserves & Surplus

7923.000

4734.000

4293.000

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

2001.000

0.000

Total Shareholders’ Funds (1) + (2)

9119.000

7884.000

5442.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

500.000

535.000

33.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

22.000

17.000

16.000

(d) long-term provisions

511.000

633.000

455.000

Total Non-current Liabilities (3)

1033.000

1185.000

504.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

9.000

810.000

1818.000

(b) Trade payables

7343.000

3556.000

4789.000

(c) Other current liabilities

1502.000

1354.000

1072.000

(d) Short-term provisions

1053.000

1038.000

530.000

Total Current Liabilities (4)

9907.000

6758.000

8209.000

 

 

 

 

TOTAL

20059.000

15827.000

14155.000

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4375.000

3681.000

3093.000

(ii) Intangible Assets

103.000

115.000

155.000

(iii) Capital work-in-progress

445.000

276.000

498.000

(iv) Intangible assets under development

0.000

59.000

0.000

(b) Non-current Investments

0.000

0.000

20.000

(c) Deferred tax assets (net)

962.000

672.000

457.000

(d)  Long-term Loan and Advances

372.000

820.000

397.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

6257.000

5623.000

4620.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

4728.000

3498.000

4119.000

(c) Trade receivables

3750.000

3215.000

3111.000

(d) Cash and cash equivalents

3403.000

1821.000

418.000

(e) Short-term loans and advances

1720.000

1519.000

1376.000

(f) Other current assets

201.000

151.000

511.000

Total Current Assets

13802.000

10204.000

9535.000

 

 

 

 

TOTAL

20059.000

15827.000

14155.000

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Net Sales

20866.000

19052.000

19943.000

 

Other Income

NA

 NA

NA 

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less:

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2151.000

1252.000

1559.000

 

 

 

 

 

Less:

TAX

897.000

510.000

654.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1254.000

742.000

905.000

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

4027.000

3662.000

3096.000

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

125.000

74.000

93.000

 

Proposed Dividend on preference shares

22.000

22.000

22.000

 

Proposed Dividend on equity shares

0.000

281.000

224.000

 

Total

147.000

377.000

339.000

 

 

 

 

 

 

Balance Carried to the B/S

5134.000

4027.000

4293.000

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

14355.000

12165.000

10667.000

 

TOTAL EARNINGS

14355.000

12165.000

10667.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

NA

 309.56

470.34 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

39.000

0.000

562.000

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

5000.000

2821.000

1077.000

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Net Sales)

(%)

6.01

3.89

4.54

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

11.53

8.45

11.83

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.24

0.16

0.29

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.06

0.17

0.34

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.39

1.51

1.16

 

 

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

1149.000

1149.000

1196.000

Reserves & Surplus

4293.000

4734.000

7923.000

Share Application money pending allotment

0.000

2001.000

0.000

Net worth

5442.000

7884.000

9119.000

 

 

 

 

long-term borrowings

33.000

535.000

500.000

Short term borrowings

1818.000

810.000

9.000

Total borrowings

1851.000

1345.000

509.000

Debt/Equity ratio

0.340

0.171

0.056

 

 

 

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)

Net Sales

19943.000

19052.000

20866.000

 

 

(4.468)

9.521

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Net Sales

19943.000

19052.000

20866.000

Profit

905.000

742.000

1254.000

 

4.54%

3.89%

6.01%

 

 

 

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)

Yes

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

 

 

UNSECURED LOAN:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS:

 

 

Loans and Advances from Others

500.000

500.000

 

 

 

SHORT TERM BORROWINGS:

 

 

Term Loan from bank

0.000

369.000

Total

500.000

869.000

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10121243

09/07/2008

1,000,000,000.00

CITIBANK N.A

2413, PARMAR HOUSE, EAST STREET CAMP, PUNE, MAHARASHTRA - 411001, INDIA

A44173961

2

10121244

09/07/2008

1,000,000,000.00

CITIBANK N.A

2413, PARMAR HOUSE, EAST STREET CAMP, PUNE, MAHARASHTRA - 411001, INDIA

A44174548

3

80031452

22/03/2002

740,000,000.00

CITI BANK

KUMAR PLAZA, 2413 EASE STREET, PUNE, MAHARASHTRA 
- 411001, INDIA

-

4

90088174

26/03/1999

120,000,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, NO.14; PUNE- MUMBAI ROAD; WAKDEWADI, PUNE, MAHARASHTRA - 411003, INDIA

-

5

90197492

28/01/1999

28,000,000.00

CORPORATION BANK

INDL FINANCE BRANCH, QUEENS ROAD, BANGALORE, KARNATAKA - 560001, INDIA

-

6

90200339

28/01/1999

28,000,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, QUEENS ROAD, BANGALORE 
, KARNATAKA - 560001, INDIA

-

7

90088101

02/04/1998

80,000,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, NO.14; PUNE- MUMBAI ROAD; WAKDEWADI, PUNE, MAHARASHTRA - 411003, INDIA

-

8

90083937

26/04/2001 *

100,000,000.00

CANARA BANK

11; M. G. ROAD, PUNE, MAHARASHTRA - 411001, INDIA

-

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2014

31.03.2013

Income tax [includes Rs. 332.000 Million (Previous year: Rs. 210.000 Million) in respect of appeals decided in favor of the Company, but disputed further by Income tax authorities]

371.000

457.000

Excise Duty and Service Tax

144.000

195.000

Advance Import Licenses under Export Obligation

274.000

59.000

 

 

 

Total

789.000

711.000

 

 

 

FIXED ASSETS:

 

Tangible Assets:

 

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

 

Intangible Assets:

 

·         Goodwill

·         Brands and trade marks

·         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. 65.24

UK Pound

1

  Rs. 102.21

Euro

1

Rs. 72.57

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

THR

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

71

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.