MIRA INFORM REPORT

 

 

Report No. :

352952

Report Date :

08.12.2015

 

IDENTIFICATION DETAILS

 

Name :

ENDURANCE TECHNOLOGIES PRIVATE LIMITED (CN) (w.e.f 18.01.2012)

 

 

Formerly Known As :

ENDURANCE TECHNOLOGIES LIMITED (CN) (w.e.f 09.07.2010)

 

ENDURANCE TECHNOLOGIES PRIVATE LIMITED (CN) (w.e.f  11.08.2006)

 

ENDURANCE TRANSMISSION SYSTEMS (INDIA) PRIVATE LIMITED (w.e.f 25.09.2002)

 

ENDURANCE TRANSMISSION SYSTEMS (INDIA) LIMITED (w.e.f 06.12.2000)

 

ENDURANCE SUSPENSION SYSTEMS (INDIA) LIMITED

 

 

Registered Office :

K-228, MIDC Industrial Area, Waluj, Aurangabad – 431136, Maharashtra

Tel. No.:

91-240-2569678

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

27.12.1999

 

 

Com. Reg. No.:

11-123296

 

 

Capital Investment / Paid-up Capital :

Rs. 192.630 Million

 

 

CIN No.:

[Company Identification No.]

U34102MH1999PTC123296

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Aluminium Die Casting Products.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (65)

 

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

 

Maximum Credit Limit :

USD 2088000

 

 

Status :

Good 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established company incorporated during the year 1999.

 

As per the Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2014 but the documents related to the financials are not available from any source.

 

As per the financials for the year ended 2013, the company has fine track. Rating takes into consideration company’s large scale of operations and healthy financial risk profile marked by profitability margin of 2.97%, strong debt protection metrics and improving capital structure.

 

Further, the company has diversify products along with long standing relationship with Bajaj Auto Limited along with Honda Motorcycle and Scooter India Private Limited, Royal Enfield, India Yamaha and Hero MotoCorp Limited.

 

Moreover, company has efficient risk management policies and reduced risk appetite and possesses good overseas operations through its subsidiaries.

 

Trade relations are reported as fair. Payments terms are regular and as per commitment.

 

In view of strong promotional activity and healthy financial base, the company can be considered for business dealings at usual trade terms and conditions

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – 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 bank loan facilities = AA-

Rating Explanation

High degree of safety and very low credit risk.

Date

15.07.2015

 

Rating Agency Name

CRISIL

Rating

Short term bank facilities = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

15.07.2015

 

 

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 31-03-2015.

 

 

INFORMATION DECLINED

 

MANAGEMENT NON-COOPERATIVE

 

(Contact No: 91-240-2569678)

 

 

LOCATIONS

 

Registered Office :

K-228, MIDC Industrial Area, Waluj, Aurangabad – 431136, Maharashtra, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

snlalai@endurance.co.in

Website :

www.endurancegroup.com

 

 

Corporate Office 1 :

E-92, M.I.D.C., Waluj, Aurangabad  - 431136 , Maharashtra, India

Tel No.:

91-240-2569600/ 2569601

Fax No.:

91-240-2569703

 

 

Transmission Division Office :

K-226/2, MIDC Industrial Area Waluj, Aurangabad (M.S)– 431136, Maharashtra, India

Tel No. :

91-240-2569400/ 2569431/ 2569412/ 2569417

Fax No.:

91-240-2554373

 

 

Marketing Head Office 1 :

E-94, MIDC Industrial Area, Waluj, Aurangabad – 431136, Maharashtra, India

Tel. No.:

91-240-2569600 / 2569601

Fax No.:

91-240-2569703

E-Mail :

marketing@endurance.co.in

 

 

Marketing Head Office 2

B-1/3, MIDC Area, Chakan, Village Nighoje, Taluka: Khed (Rajgurunagar), Chakan, District Pune – 410501, Maharashtra, India

Tel. No.:

91-2135-244000

Fax No.:

91-2135-259586

 

 

Factory 1 :

GERMANY

Endurance Amann GmbH (Casting Division)

Massenbachhausen, Germany

Website:

http://www.amann-druckguss.de

 

 

Factory 2 :

(Casting Division)

Via Del Boschetto 2/43, 10100 Lombardore (TO), Italy

Tel. No.:

39 011 9958756

Website:

http://www.fondalmec.it

 

 

Factory 3 :

PANTNAGAR
(Suspension Division)

Plot No.3, Sector 10, Integrated Industrial Estate - IIE, Udham Singh Nagar,
Pantnagar, Uttaranchal, India.

 

 

Factory 4 :

 (Transmission Division)

Plot No. - 7, Sector 10, Integrated Industrial Estate-IIE, Udham Singh Nagar, Pantnagar, Uttaranchal, India

 

 

Factory 5 :

MANESAR

(Casting Division)

Plot no. 400, Sector 8, IMT, Manesar, District. Gurgaon – 122050, Haryana, India

Tel. No.:

91-124-2291770-73

Fax No.:

91-124-2291774

 

 

Factory 6 :

(Casting Division)

B-2, MIDC Area, Waluj, Post Box No. 960, Aurangabad – 431136, Maharashtra, India

Tel. No.:

91-240-2555026/ 27/ 2554864/ 65

Fax No.:

91-240-2554373

 

 

Factory 7 :

(Suspension Division)

E-92, MIDC Area, Waluj, Post Box No. 982, Aurangabad – 431136, Maharashtra, India

Tel. No.:

91-240-2554902/ 2564582/ 2564595

Fax No.:

91-240-2555423

 

 

Factory 8 :

(Tool Room Division)

Plot No.L-20, Waluj M.I.D.C. Industrial Area, Vitawa Village, Gangapur Taluka, Aurangabad – 431109, Maharashtra , India

 

91-240-2569900

 

 

Factory 9 :

(Suspension Division)

K-228 and K-229, MIDC Area, Waluj, Aurangabad - 431136, Maharashtra, India

Tel. No.:

91-240-2556686/87

Fax No.:

91-240-2556685

 

 

Factory 10:

(Casting Division)

L-6/3, MIDC Area, Waluj, Aurangabad – 431136, Maharashtra, India

Tel. No.:

91-240-2551246/48

Fax No.:

91-240-2556894/65

 

 

Factory 11 :

(Suspension Division)

K-120, MIDC Area, Waluj, Post Box No.982, Aurangabad - 431136, Maharashtra, India

Tel. No.:

91-240-2556683/ 2556684

Fax No.:

91-240-2556682

 

 

Factory 12 :

(Braking Division)

K-226/2, MIDC Area, Waluj, Aurangabad - 431136, Maharashtra, India

Tel. No.:

91-240-2551115

Fax No.:

91-240-2551496

 

 

Factory 13 :

(Braking Division)

K-226/1, MIDC Area, Waluj, Aurangabad - 431136, Maharashtra, India

Tel. No.:

91-240-2552447/2563153

Fax No.:

91-240-2563553

 

 

Factory 14 :

(Casting Division)

Gut No. 416, Village Takve Budruk, Taluka: Vadgoan Maval, District. Pune – 412106, Maharashtra, India

Tel. No.:

91-2114-211331/2/3

Fax No.:

91-240-2556894

 

 

Factory 15 :

(Machining Division)

B-20, MIDC Area, Chakan, Village: Nighoje, Taluka: Khed (Rajgurunagar), Pune - 410501, Maharashtra, India.

Tel. No.:

91-20-4103011/12/14

Fax No.:

91-20-4102230

 

 

Factory 16 :

(Alloy Wheel Division)

Plot B-22, MIDC Area, Village Nighoje, Taluka: Khed (Rajgurunagar), Pune – 410 501, Maharashtra, India.

 

 

Factory 17 :

(Casting Division)

B-1/3, MIDC Area, Chakan, Village Nighoje, Taluka: Khed (Rajgurunagar), Pune - 410501, Maharashtra, India

 

 

Factory 18 :

CHENNAI
(Casting Division)

Plot No F-82, SIPCOT Industrial Park, Irungattukottai, Pennalur Post,  Shriperumbudur Taluk,  Kanchipuram District, Chennai – 602105, Tamilnadu, India

 

 

DIRECTORS

 

AS ON 07.08.2014

 

Name :

Mr. Naresh Chandra

Designation :

Director

Address :

Bhagwati Bhavan, 31-B, M. L. Dahanukar Marg, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

11.02.1935

Date of Appointment :

27.12.1999

PAN No.:

AACPC7536R

DIN No.:

00027696

 

 

Name :

Mr. Anurag  Nareshchandra Jain

Designation :

Managing Director

Address :

Green Leaf, Manor Gat No-43-3-B,Kanchanwadi Opposite Walmi Paithan Road, Aurangabad – 431 035, Maharashtra, India

Date of Birth/Age :

21.03.1962

Qualification :

MBA (Pittsburg)

Experience :

29 Years

Date of Appointment :

27.12.1999

PAN No.:

ABJPJ4005E

DIN No.:

00291662

 

 

Name :

Mr. Roberto Testore

Designation :

Director

Address :

Viale Parioli 40, Rome, Italy, 00197

Date of Birth/Age :

17.10.1952

Date of Appointment :

17.10.2007

DIN No.:

01935704

 

 

Name :

Mr. Soumendra Mohan Basu

Designation :

Director

Address :

22 D-2, Cape, Tower VII Hiland Park, 1925, Chak Garia, Kolkata – 700094, West Bengal, India

Date of Birth/Age :

19.11.1949

Date of Appointment :

16.06.2010

DIN No.:

01125409

 

 

Name :

Mr. Partho Sarothy Datta

Designation :

Director

Address :

19/2, Dover Road, Ballygunge, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

08.12.1948

Date of Appointment :

16.06.2010

Voter ID No.:

CJJ2442200

DIN No.:

00040345

 

 

Name :

Mr. Asanka Haren Edirimuni Rodrigo

Designation :

Director

Address :

4202, 42 Floor, Planet Godrej, Tower 2 (Aqua), SM Compound, KK Marg, Jacob Circlr, Saatrasta, Mahalaxmi, Mumbai – 400 011, Maharashtra, India

Date of Birth/Age :

12.02.1971

Date of Appointment :

22.12.2011

DIN No.:

03010463

 

 

Name :

Mr. Satrajit Ray

Designation :

Whole-Time Director

Address :

Flat No - L 403, Laburnum Park, Magarpatta City, Hadapsar, Pune - 411013, Maharashtra, India

Date of Birth/Age :

16.02.1959

Qualification :

B.Com., ACA

Date of Appointment :

06.06.2014

DIN No.:

00191467

 

 

Name :

Mr. Ramesh Gehaney

Designation :

Whole-Time Director

Address :

172 Royal Residency, Plot No.5 Sector 9 , Dwarka, New Delhi - 110075, India

Date of Birth/Age :

27.11.1959

Qualification :

B.E. (Mechanical)

Date of Appointment :

06.06.2014

DIN No.:

02697676

 

 

Name :

Mr. Massimo Venuti

Designation :

Director

Address :

Via Arsenale Nr 33, Scala A, Torino, Na, Italy

Date of Birth/Age :

06.11.1972

Date of Appointment :

06.06.2014

DIN No.:

0688977

 

 

KEY EXECUTIVES

 

Name :

Mr. Sunil Naresh Lalai

Designation :

Secretary

Address :

Flat No. 6, Palacia – C, Utopia Co-Operative Society Opposite Rahena Gardens, Wanowari, Pune-411040, Maharashtra, India

Date of Birth/Age :

25.05.1965

Date of Appointment :

10.09.2011

PAN No.:

AAGPL2945P

 

 

Name :

Mr. Ramesh Gehaney

Designation :

Chief Operating Officer – Proprietary Business

 

 

Name :

Mr. Satrajit Ray

Designation :

Group Chief Financial Officer

 

 

Name :

Mr. Vipin Dang

Designation :

Chief Executive Officer – Casting Business Group (India)

 

 

Employees who were in employment for part of the year :

 

Name :

Mr. Makarand Deshpande

Designation :

Chief People Officer

 

 

Name :

Mr. Ravinder K. Gupta

Designation :

Vice president - Casting Business Group

 

 

Name :

Mr. Ravindra Kharul

Designation :

Chief Technology Officer – Proprietary Business Group

 

 

Name :

Mr. V. Subramanian

Designation :

Vice President - Casting division

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 07.08.2014

 

Names of Shareholders (Equity Shares)

 

No. of Shares

Anurang Jain

 

26412400

Varsha Jain

 

25

Anurang Jain and Varsha Jain

 

468925

Anurang Jain HUF

 

125

Naresh Chandra

 

4500100

Naresh Chandra and Suman Jain

 

1042825

Suman Jain

 

5502750

Actis Components and System Investments Limited

 

6029990

Total

 

43957140

 

 

Names of Shareholders (Preference Shares)

 

No. of Shares

Naresh Chandra

 

320000

Suman Jain

 

1360000

Total

 

1680000

 

 

AS ON 07.08.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

13.72

Directors or relatives of directors

86.28

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Aluminium Die Casting Products.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Piaggo Vehicles Private Limited

·         Bajaj Auto Limited

·         Suzuki Motorcycle India Private Limited

·         Mahindra Two Wheelers Limited

·         India Yamaha Motor Private Limited

 

 

 

No. of Employees :

Not Divulged

 

 

Bankers :

Bank Name:

ICICI Bank Limited

Branch:

Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, 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 A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Bank of India Consortium

Pune Corporate Banking Branch, 1162/6, University Road, Shivaji Nagar, Pune - 411005, Maharashtra, India

 

·         Indian Overseas Bank

Pune Cantonment Branch, Wonderworld, 7 M G Road, Pune-411001, Maharashtra, India

 

·         Bank of India

Pune Corporate Banking Branch, 1162/6, University Road, Shivaji Nagar, Pune - 411005, Maharashtra, India

 

·         The Bank of Tokyo-Mitsubishi UFJ Limited

15th Floor, Hoechst House, Nariman Point, Mumbai,  Maharashtra - 400021, India

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term loans from banks

1413.620

1611.580

Other loans and advances

576.180

483.020

 

 

 

SHORT TERM BORROWINGS

 

 

Term loans from banks

352.650

50.940

Working capital loans from banks

1607.580

1469.990

Intercorporate borrowings

240.000

0.000

 

 

 

Total

4190.030

3615.530

 

Banking Relations :

--

 

 

Financial Institution:

·         Bajaj Finance Limited

Akurdi Pune, Pune – 411035, Maharashtra, India

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountants

Address :

Pune, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AACFD4815A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries Direct/ Indirect :

·         High Technology Transmission Systems (India) Private Limited (Direct Subsidiary) (U34300MH2002PTC134738)

·         Amann Druckguss GmbH, Germany (Direct Subsidiary)

·         Endurance Overseas Srl, Italy (Direct Subsidiary)

·         Endurance Fondalmec S.p.A, Italy (Indirect Subsidiary)

 

 

Joint Venture :

·         Endurance Magneti Marelli Shock Absorbers (India) Private Limited (Disinvested w.e.f.17th October, 2012)

 

 

Enterprises Owned or controlled by Key Management personnel and/or their Relatives :

·         Varroc Engineering Private Limited

·         Varroc Trading Private Limited

·         Varroc Exhaust Systems Private Limited

·         Durovalves India Private Limited

·         Varroc Elastomers Private Limited

·         Varroc Polymers Private Limited

 

 

CAPITAL STRUCTURE

 

 

As on 07.08.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

216250000

Equity Shares

Rs.4/- each

Rs.865.000 Million

2000000

Preference Shares

Rs.10/- each

Rs.20.000 Million

 

Total

 

Rs.885.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

43957140

Equity Shares

Rs.4/- each

Rs.175.829 Million

1680000

Preference Shares

Rs.10/- each

Rs.16.800 Million

 

Total

 

Rs.192.629 Million

 

 

As on 31.03.2013

 

Authorised Capital:

No. of Shares

Type

Value

Amount

176250000

Equity Shares

Rs.4/- each

Rs.705.000 Million

2000000

Preference Shares

Rs.10/- each

Rs.20.000 Million

 

Total

 

Rs.725.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

43957140

Equity Shares

Rs.4/- each

Rs.175.830 Million

1680000

Preference Shares

Rs.10/- each

Rs.16.800 Million

 

Total

 

Rs.192.630 Million


 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

192.630

198.400

192.630

(b) Reserves & Surplus

7115.430

6764.950

5122.730

(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)

7308.060

6963.350

5315.360

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

2813.310

3234.530

3931.300

(b) Deferred tax liabilities (Net)

0.000

70.810

90.920

(c) Other long term liabilities

22.510

22.540

19.280

(d) long-term provisions

146.010

89.750

59.630

Total Non-current Liabilities (3)

2981.830

3417.630

4101.130

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3486.280

2678.610

3125.280

(b) Trade payables

3586.520

4106.410

3230.720

(c) Other current liabilities

1595.600

2074.650

2117.630

(d) Short-term provisions

93.300

90.290

137.410

Total Current Liabilities (4)

8761.700

8949.960

8611.040

 

 

 

 

TOTAL

19051.590

19330.940

18027.530

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

8859.220

8757.950

8802.250

(ii) Intangible Assets

81.640

62.010

93.780

(iii) Capital work-in-progress

231.150

319.810

184.490

(iv) Intangible assets under development

0.270

8.150

0.000

(b) Non-current Investments

3974.800

3909.680

2970.890

(c) Deferred tax assets (net)

14.850

0.000

0.000

(d)  Long-term Loan and Advances

265.690

402.160

500.780

(e) Other Non-current assets

39.040

79.620

118.930

Total Non-Current Assets

13466.660

13539.380

12671.120

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1233.450

1160.160

1321.190

(c) Trade receivables

3412.850

3344.410

3090.280

(d) Cash and cash equivalents

472.470

844.530

169.000

(e) Short-term loans and advances

314.300

309.770

350.200

(f) Other current assets

151.860

132.690

425.740

Total Current Assets

5584.930

5791.560

5356.410

 

 

 

 

TOTAL

19051.590

19330.940

18027.530

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

27171.590

27683.550

23217.220

 

 

Other Income

221.270

178.920

175.380

 

 

TOTAL                                     (A)

27392.860

27862.470

23392.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

24042.710

23615.910

19996.530

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

3350.150

4246.560

3396.070

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

841.120

865.390

838.380

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

2509.030

3381.170

2557.690

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1406.550

1404.320

1197.250

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

1102.480

1976.850

1360.440

 

 

 

 

 

Less

TAX                                                                  (H)

295.060

294.120

326.520

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

807.420

1682.730

1033.920

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

3825.110

2309.090

1310.470

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Dividend on Redeemable Preference Shares

1.510

1.430

17.120

 

 

Dividend on Equity Shares

35.170

33.430

13.190

 

 

Tax on dividend

6.220

5.650

4.990

 

 

Transfer to General Reserve

60.560

126.200

0.000

 

BALANCE CARRIED TO THE B/S

4529.070

3825.110

2309.090

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

862.530

805.640

445.320

 

TOTAL EARNINGS

862.530

805.640

445.320

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

 NA

 NA

1891.33

 

 

Components and Stores parts

 NA

 NA

56.14

 

 

Capital Goods

 NA

 NA

458.52

 

TOTAL IMPORTS

NA

NA

2405.990

 

 

 

 

 

 

Earnings Per Share (Rs.)

18.36

38.28

23.52

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

1107.530

1563.130

1563.990

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from used in Operations

3037.740

4493.520

2375.990

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT / Sales)

(%)

2.97

6.08

4.45

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

12.33

15.34

14.63

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.43

13.10

9.15

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.15

0.28

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.01

1.07

1.62

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.64

0.65

0.62

 

 

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

192.630

198.400

192.630

Reserves & Surplus

5122.730

6764.950

7115.430

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

5315.360

6963.350

7308.060

 

 

 

 

Long-term borrowings

3931.300

3234.530

2813.310

Short term borrowings

3125.280

2678.610

3486.280

CURRENT MATURITIES OF LONG-TERM DEBTS

1563.990

1563.130

1107.530

Total borrowings

8620.570

7476.270

7407.120

Debt/Equity ratio

1.622

1.074

1.014

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

23217.220

27683.550

27171.590

 

 

19.237

(1.849)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

23217.220

27683.550

27171.590

Profit

1033.920

1682.730

807.420

 

4.45%

6.08%

2.97%

 

 

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

Yes

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

Yes

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

No

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10564992

31/03/2015

657,203,400.00

THE BANK OF TOKYO-MITSUBISHI UFJ LIMITED

15TH FLOOR, HOECHST HOUSE, NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA

C51493849

2

10546325

12/01/2015

3,750,000,000.00

CORPORATION BANK

14, PUNE-MUMBAI ROAD, WAKDEWADI,, PUNE, MAHARASHTR
A - 411003, INDIA

C42083188

3

10532536

29/10/2014

683,148,400.00

STANDARD CHARTERED BANK

19, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, IN
DIA

C34267799

4

10510088

27/05/2014

500,000,000.00

CITI BANK N.A.

4798 NIRALA BAZAR, AURANGABAD, MAHARASHTRA - 43100
1, INDIA

C11604147

5

10365604

21/05/2012

300,000,000.00

CORPORATION BANK

CORPORATE BANKING BRANCH, 14 MUMBAI PUNE ROAD, WA
KDEWADI, PUNE, MAHARASHTRA - 411003, INDIA

B43553593

6

10216656

12/04/2010

200,000,000.00

IDBI BANK LIMITED

SPECIALISED CORPORATE BRANCH, SURVEY NO. 20292,,
RATNAPRABHA BUILDING,OPP. LIC OFFICE, ADALAT ROAD
,, AURANGABAD, MAHARASHTRA - 431003, INDIA

A83988212

 

 

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Intercorporate Borrowings

234.140

457.240

Deferred Payment liabilities

589.370

682.690

 

 

 

SHORT TERM BORROWINGS

 

 

Term loans from banks

0.000

179.060

Working capital loans from banks

1086.050

778.620

Intercorporate borrowings

200.000

200.000

 

 

 

Total

2109.560

2297.610


FIXED ASSETS:

 

Tangible Assets

 

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Office equipment

·         Computer Equipments

 

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 records 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. 66.63

UK Pound

1

Rs. 100.65

Euro

1

Rs. 72.40

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

65

 

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.