MIRA INFORM REPORT
|
Report No. : |
353235 |
|
Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDO-US MIM TEC PRIVATE LIMITED (w.e.f 21.08.2001) |
|
|
|
|
Formerly known
as : |
A F TECHNOLOGIES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Telangana |
|
Tel. No.: |
91-80-22048800/27971418/27971416 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
12.04.1996 |
|
|
|
|
Com. Reg. No.: |
36-023794 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 119.972 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28110AP1996PTC023794 |
|
|
|
|
IEC No.: |
0900010801 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI0484L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of designs, manufacturers,
and supplier metal injection molding products for automotive, medical,
consumer, aerospace, oil and gas, and industrial sectors. (From Indirect Sources) |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
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 |
|
Maximum Credit Limit : |
USD 11000000 |
|
|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1996 and it is engaged in the business of designs, manufacturers, and supplier metal injection molding products for automotive, medical, consumer, aerospace, oil and gas, and industrial sectors. For the financial year ended 2015, company has reported marginal growth of 5.01% in its revenue and it has maintained decent profitability margins at 17.44% during the year under review. Ratings reflect company’s healthy business risk profile as reflected by its position as the global leader in the MIM segment, strong diversity in its revenue profile, healthy operating efficiencies, and healthy financial profile. Rating strengths is partially offset by the company's working-capital-intensive operations and the susceptibility of its operating margin to fluctuations in foreign exchange rates. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. The company 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 |
25.02.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
25.02.2015 |
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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Prasad |
|
Designation : |
Commercial Executive |
|
Contact No.: |
91-8978998689 |
|
Date : |
07.12.2015 |
LOCATIONS
|
Registered Office : |
Street No. 7, 3-6-539/A, Himayatnagar, Hyderabad – 500029, Telangana,
India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8978998689 (Mr. Prasad) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office/ Headquarters and
MIM Operations: |
No 45,(P), KIADB Industrial Area, Hoskote, Bangalore - 562114,
Karnataka, India |
|
Tel. No.: |
91-80-22048800/27971418/27971416 |
|
Fax No.: |
91-80-27971624 |
|
E-Mail : |
|
|
|
|
|
MIM and Finishing Operations: |
#45[P], KIADB Industrial Area, Doddaballapur, Bangalore - 561203, Karnataka,
India |
|
Tel. No.: |
91-80-7630533/ 7630532 |
|
Fax No.: |
91-80-27630532 |
|
E-Mail : |
|
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|
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# 43, 44, 45, (P), KIADB Industrial Area, Doddaballapur, Bangalore - 561203,
Karnataka, India |
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|
|
|
Factory : |
Plot # 62B (Part-II), APIIC Industrial Park, Tirupati - 517520, Andhra Pradesh, India |
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|
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Overseas Office : |
Located at:
|
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Krishna Chivukula |
|
Designation : |
Director |
|
Address : |
35, 1st Block, RMV, 2nd Stage, Bangalore –
560091, Karnataka, India |
|
Date of Birth/Age : |
27.01.1947 |
|
Date of Appointment : |
12.04.1996 |
|
DIN No.: |
01625119 |
|
|
|
|
Name : |
Ms. Lalitha Sastry Chivukula |
|
Designation : |
Director |
|
Address : |
213-539 A, No.7, Lane – 2, Himayatnagar, Hyderabad – 500029, Andhra
Pradesh, India |
|
Date of Birth/Age : |
01.07.1924 |
|
Date of Appointment : |
12.04.1996 |
|
DIN No.: |
02368453 |
|
|
|
|
Name : |
Mr. Krishna Chivukula Jr |
|
Designation : |
Director |
|
Address : |
1 Derby LN SE, Washinton DC USA 20032222 |
|
Date of Birth/Age : |
31.03.1972 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
02483835 |
|
|
|
|
Name : |
Mr. Raj Roger Chivukula |
|
Designation : |
Director |
|
Address : |
381, Lodgewood Lane, Lafayette Co, USA - 80026 |
|
Date of Birth/Age : |
01.07.1974 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
02484081 |
|
|
|
|
Name : |
Mr. Chandrasekhar Jagadamba |
|
Designation : |
Director |
|
Address : |
8026, Summerview, J fayet Ville, New York, USA - 13066 |
|
Date of Birth/Age : |
12.09.1949 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
1711450 |
|
|
|
|
Name : |
Mr. Parasuraman Balasubramanina |
|
Designation : |
Director |
|
Address : |
3DC 217, HRBR 3rd Block Kalyan Nagar, Bangalore – 560043, Karnataka,
India |
|
Date of Birth/Age : |
14.05.1963 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02829480 |
KEY EXECUTIVES
|
Name : |
Mr. Parasuraman Balasubramanina |
|
Designation : |
Director |
|
Address : |
3DC 217, HRBR 3rd Block Kalyan Nagar, Bangalore – 560043, Karnataka,
India |
|
Date of Birth/Age : |
14.05.1963 |
|
Date of Appointment : |
27.10.2014 |
|
PAN No: |
AADPB5055F |
|
|
|
|
Name : |
Mr. Prasad |
|
Designation : |
Commercial Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.05.2014
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.05.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
91.00 |
|
Directors or relatives of Directors |
4.00 |
|
Other top fifty shareholders |
5.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of designs,
manufacturers, and supplier metal injection molding products for automotive, medical,
consumer, aerospace, oil and gas, and industrial sectors. (From Indirect Sources) |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
P Murali and Company Chartered Accountants |
|
Address : |
361, 13th
Main, RMV Extension, Bangalore - 560 080, Karnataka, India |
|
Tel. No.: |
91-80-23613743 |
|
Fax No.: |
9180-2366209 |
|
PAN No.: |
AADFP2033K |
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|
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|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
|
Associates: |
[U24230TG1994PTC018752] |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11997257 |
Equity Shares |
Rs.10/- each |
Rs. 119.973
Million |
|
|
|
|
|
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 |
119.973 |
119.973 |
119.972 |
|
(b) Reserves & Surplus |
3601.493 |
2708.974 |
1633.841 |
|
(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) |
3721.466 |
2828.947 |
1753.813 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1926.436 |
1250.822 |
1113.897 |
|
(b) Deferred tax liabilities
(Net) |
283.998 |
273.915 |
154.048 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
23.897 |
19.872 |
13.252 |
|
Total
Non-current Liabilities (3) |
2234.331 |
1544.609 |
1281.197 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
547.159 |
151.057 |
342.455 |
|
(b) Trade payables |
421.206 |
434.434 |
288.123 |
|
(c) Other current liabilities |
476.611 |
424.137 |
0.000 |
|
(d) Short-term provisions |
0.000 |
0.000 |
501.874 |
|
Total
Current Liabilities (4) |
1444.976 |
1009.628 |
1132.452 |
|
|
|
|
|
|
TOTAL |
7400.773 |
5383.184 |
4167.462 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3830.958 |
2983.393 |
1987.131 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
200.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1005.959 |
850.374 |
583.193 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4836.917 |
3833.767 |
2770.324 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
786.100 |
603.212 |
467.879 |
|
(c) Trade receivables |
917.562 |
767.936 |
596.591 |
|
(d) Cash and cash equivalents |
808.836 |
178.269 |
65.768 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
51.358 |
0.000 |
266.900 |
|
Total
Current Assets |
2563.856 |
1549.417 |
1397.138 |
|
|
|
|
|
|
TOTAL |
7400.773 |
5383.184 |
4167.462 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
6864.332 |
6523.818 |
|
|
Other Income |
|
9.458 |
21.783 |
|
|
TOTAL
(A) |
|
6873.790 |
6545.601 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
898.189 |
776.139 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(122.104) |
(155.028) |
|
|
Employees benefits expense |
|
1315.417 |
1048.446 |
|
|
Other expenses |
|
2437.120 |
2002.577 |
|
|
Extraordinary items before tax |
|
0.000 |
1.850 |
|
|
TOTAL
(B) |
|
4528.622 |
3673.984 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
2345.168 |
2871.617 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
244.826 |
223.834 |
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2100.342 |
2647.783 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
469.588 |
279.245 |
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
1630.754 |
2368.538 |
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
433.725 |
809.802 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
1197.029 |
1558.736 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
2492.302 |
1212.182 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend (inclusive
of dividend tax) |
|
302.306 |
238.615 |
|
|
Disposable Surplus |
|
3687.127 |
2730.918 |
|
|
Balance
Carried to the B/S |
|
NA |
2492.302 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
99.78 |
126.74 |
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Revenue |
|
|
3784.689 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL (A) |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
1446.057 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
199.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1246.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
197.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
1048.709 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
354.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
694.537 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
903.643 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
111.548 |
|
|
|
Dividend |
|
|
69.454 |
|
|
|
Disposable Surplus |
|
|
1528.717 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
57.89 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
316.222 |
1314.331 |
547.323 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
17.44 |
23.89 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
34.16 |
44.02 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.03 |
44.00 |
26.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44 |
0.84 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.66 |
0.50 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77 |
1.53 |
1.23 |
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 |
119.972 |
119.973 |
119.973 |
|
Reserves & Surplus |
1633.841 |
2708.974 |
3601.493 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1753.813 |
2828.947 |
3721.466 |
|
|
|
|
|
|
long-term borrowings |
1113.897 |
1250.822 |
1926.436 |
|
Short term borrowings |
342.455 |
151.057 |
547.159 |
|
Total
borrowings |
1456.352 |
1401.879 |
2473.595 |
|
Debt/Equity
ratio |
0.830 |
0.496 |
0.665 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6523.818 |
6864.332 |
|
|
|
5.220 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
6523.818 |
6864.332 |
|
Profit |
1558.736 |
1197.029 |
|
|
23.89% |
17.44% |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS AND
OUTLOOK
FY 2015 was a year of consolidation and moderate growth for us in Rupee terms due to the global slowdown. Since all our planning efforts were geared for a much higher level of turnover they ended up having a higher cost base which resulted in lower profits and profitability during the year. They expect the growth to come back during FY 2016 and they hope to achieve a top line as well as bottom line increase of about 10% in line with budget projections. There is no slowdown in the new tool orders and hence they are sure that the years ahead will continue to be profitable and rewarding for the company.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
INTRODUCTION:
The Company was established in 1996 and over the last few years, it has emerged as one of the largest producers of Metal Injection Molded (MIM) Parts all over the World. At present, the Company is operating from two MIM manufacturing plants at Bangalore and one Investment Casting (IC) manufacturing plant at Tirupathi.
AN OVERVIEW OF INDIAN
AND WORLD ECONOMY:
The Financial Year 2014-15 was a challenging year for most of the companies all over the world. The global economy witnessed lower economic growth. The Indian economy also witnessed lot of pressures on account of inflation, liquidity crunch, highly volatile exchange rates and political uncertainties.
PERFORMANCE OF THE
COMAPNY:
Despite challenging market conditions, the Company achieved
a marginal growth of topline. However significant addition to the capacity made
during Fy 14 coupled with poor growth in topline exerted great pressure on the
bottom line of the company. The company’s order book for new tools continues to
be healthy and hence the company expects to post a decent 10% increase in the
top line and bottom line during Fy 16 and expects to much better in Fy 17.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10586660 |
28/07/2015 |
400,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WORLD
TRADE COMPLEX,, CUFFE PARADE, M |
C62015433 |
|
2 |
10532431 |
28/07/2015 * |
400,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
22, GROUND FLOOR,
ING VYSYA HOUSE, MG ROAD, BANGAL |
C62270822 |
|
3 |
10463716 |
24/03/2014 * |
450,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C03938529 |
|
4 |
10455549 |
24/03/2014 * |
600,000,000.00 |
AXIS BANK LIMITED |
AXIS BANK LIMITED,
SECOND FLOOR, NO 1, QUEENS ROA |
C02566297 |
|
5 |
10455303 |
24/03/2014 * |
500,000,000.00 |
ING VYSYA BANK LIMITED |
ING VYSYA BANK LIMITED,
MG ROAD, BANGALORE, KARNA |
C02567915 |
|
6 |
10332986 |
21/11/2012 * |
220,000,000.00 |
STANDARD CHARTERED BANK |
RAHEJA TOWERS,
26-27, M G ROAD, BANGALORE, KARNAT |
B62752399 |
|
7 |
10326670 |
19/12/2011 |
200,000,000.00 |
STANDARD CHATERED BANK |
RAHEJA TOWERS,
26-27, M G ROAD, BANGALORE, KARNAT |
B29158979 |
|
8 |
10308749 |
12/09/2011 |
300,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA,, DR. |
B21884259 |
|
9 |
10315619 |
12/09/2011 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B24522039 |
|
10 |
10146107 |
30/06/2011 * |
100,000,000.00 |
IDBI BANK LIMITED |
IDBI BANK LIMITED,
102, SHAKTHI COMFORTS TOWER, K |
B17107012 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
Bank Guarantees / LCs -- A |
7.714 |
17.319 |
|
Disputed Tax Liabilities |
|
|
|
Central Excise |
8.661 |
8.951 |
|
Service Tax |
258.325 |
10.964 |
|
Income Tax |
8.284 |
8.284 |
|
Customs Duty |
32.828 |
0.000 |
|
Value Added Tax |
2.148 |
2.053 |
|
|
|
|
|
Total Disputed Tax Liability – B |
310.246 |
30.252 |
|
|
|
|
|
Total Contingent Liabilities – A+B |
317.960 |
47.571 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Office equipment
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.66.80 |
|
UK Pound |
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
8 |
|
--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 |
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 |
|
72 |
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.