MIRA INFORM REPORT
|
Report No. : |
305318 |
|
Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
AURANGABAD
ELECTRICALS LIMITED |
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|
|
|
Registered
Office : |
Plot No. B-7, MIDC,
Chakan, Village Mahalunge, Taluka Khed, Pune - 410501, Maharashtra |
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Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.09.1985 |
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|
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Com. Reg. No.: |
11-037539 |
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Capital Investment
/ Paid-up Capital : |
Rs. 100.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909PN1985PLC037539 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA04895C |
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PAN No.: [Permanent Account No.] |
AACCA2867L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Auto Components which include Auto
Electricals, Aluminium Die Casting, Fasteners, etc. and also Power Generation
from Windmills. |
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|
|
|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. As per available information, the net worth of company is satisfactory
and general financial position of the company is sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating (BBB+) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
15, December 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating (A3+) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
15, December 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
LOCATIONS
|
Registered
Office / Factory 1 : |
Plot No. B-7,
MIDC, Chakan, Village Mahalunge, Taluka Khed, Pune - 410501, Maharashtra,
India |
|
Tel. No.: |
91-2135-671673 |
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Fax No.: |
91-2135-671671 |
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E-Mail : |
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Website : |
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Area: |
10000 sq. ft. |
|
Location : |
Owned |
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Corporate
Office : |
4/12/13, The
Chambers, Office No.203, Behind Giga Space, Off Nagar, Road, Viman Nagar,
Pune – 411014, Maharashtra, India |
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|
|
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Factory 2 : |
Gut No. 65, Village-Chitegaon – 431105, Taluka-Paithan, District
Aurangabad, Maharashtra, India |
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Tel. No.: |
91-2431-329705/ 10 |
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Fax No.: |
91-2431-251488 |
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Factory 3 : |
Gat No. 120/122, Village
Pangara, Paithan Road, Chitegaon, Aurangabad-431105, Maharashtra, India |
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E-Mail : |
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Factory 4 : |
M-135/136, MIDC,
Waluj, |
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E-Mail : |
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Factory 5 : |
At. Pimpalgaon,
Taluka Parner, District Ahemadnagar, Maharashtra, India |
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Factory 6 : |
Plot No. L6/1,
MIDC, Waluj, |
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E-Mail : |
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Factory 7 : |
Gat 104, Village
Pharola, Taluka Paithan, Aurngabad – 431001, Maharashtra, India |
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Tel. No.: |
91-2431-325030 |
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Fax No.: |
91-2431-251142 |
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Factory 8 : |
Plot No. 6 Sector 10, II E Pantnagar
Udhamsingh Nagar, Uttarakhand, India |
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Factory 9: |
Gut. No.342/1/P of Village Pimpalgaon (Kawdya Dongar) Taluka
Parner District Ahmednagar, Maharashtra, India |
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Factory 10: |
Plot No B-7, MIDC Chakan, Village Mahalunge, Taluka Khed,
District Pune, Maharashtra, India |
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Business
Development Department : |
203, The Chamber (Panchashil), Behind Giga Space 4/12/13 Vimannagar
Pune – 411014, Maharashtra, India |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Rishikumar Rajnarayan Bagla |
|
Designation : |
Managing director |
|
Address : |
Gut No. 40,
Golwadi, Paithan Road, Aurangabad - 431005, Maharashtra, India |
|
Date of Birth/Age : |
02.08.1959 |
|
Qualification : |
B. Com. (Honors) |
|
Experience : |
28 Years |
|
Date of Appointment : |
23.09.1985 |
|
PAN No.: |
AFRPB1406M |
|
DIN No.: |
00002020 |
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|
|
|
Name : |
Mr. Raghavachary Kilambi |
|
Designation : |
Whole-time director |
|
Address : |
5052, Flat No.53,
H Block, 28th Street, Ponni Colony, Chennai – 600040, Tamilnadu,
India |
|
Date of Birth/Age : |
09.07.1946 |
|
Qualification : |
B.E. (Mech), M. Tech. |
|
Date of Appointment : |
10.07.2007 |
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PAN No.: |
AEIPR3157H |
|
DIN No.: |
01587450 |
|
|
|
|
Name : |
Mrs. Mamta Bagla |
|
Designation : |
Director |
|
Address : |
Gut No. 40,
Golwadi, Paithan Road, Aurangabad - 431005, Maharashtra, India |
|
Date of Birth/Age : |
12.07.1963 |
|
Qualification : |
Matriculation |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AEUPB9878H |
|
DIN No.: |
00002031 |
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|
|
|
Name : |
Mr. Muneesh Chawla |
|
Designation : |
Director |
|
Address : |
A-303 Ivy
Apartments Sushant Lok Block A, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
04.01.1967 |
|
Qualification : |
B.TECH, MBA |
|
Date of Appointment : |
19.04.2006 |
|
DIN No.: |
00069360 |
|
|
|
|
Name : |
Mr. Navin Paul |
|
Designation : |
Director |
|
Address : |
239 4th
Main 4th Cross I Block Koramangala, Bangalore – 560034, Karnataka,
India |
|
Date of Birth/Age : |
24.10.1957 |
|
Qualification : |
B.E.(Mech), MBA |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00424944 |
|
|
|
|
Name : |
Mr. Anant Kandoi |
|
Designation : |
Director |
|
Address : |
B-72, Textella Bombay,
Dyeing Compound VS Marg, Prabhadevi Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
16.02.1973 |
|
Qualification : |
B.Com, C.A. |
|
Date of Appointment : |
07.03.2007 |
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DIN No.: |
01574768 |
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|
|
|
Name : |
Mrs. Naina Krishna Murthy |
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Designation : |
Director |
|
Address : |
Plot 65, Urmi
Building 12th Floor, AGK Marg Worli Colony, Mumbai – 400030,
Maharashtra, India |
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Date of Birth/Age : |
15.09.1971 |
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Qualification : |
B.A. (Honors), LLB |
|
Date of Appointment : |
09.09.2011 |
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DIN No.: |
01216114 |
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|
|
|
Name : |
Mr. Ulhas Narayanrao Gaoli |
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Designation : |
Director |
|
Address : |
Plot No.12/13,
Nisarg Mitra Society, Golwadi, CIDCO – 4, Paithan Road, Aurangabad – 431005,
Maharashtra, India |
|
Date of Birth/Age : |
02.08.1951 |
|
Qualification : |
B.A, M.P.A, PHD |
|
Date of Appointment : |
14.09.2011 |
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DIN No.: |
00286833 |
KEY EXECUTIVES
|
Name : |
Mr. Jaikishan Pahlani |
|
Designation : |
Secretary |
|
Address : |
Tirupati Campus Phase
– IV, Flat C – 102, Tingre Nagar Road No.2, Pune – 411015, Maharashtra, India
|
|
Date of Birth/Age : |
03.01.1972 |
|
Date of Appointment : |
01.10.2013 |
|
PAN No.: |
AIHPP8245P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Rishi Kumar Bagla |
|
1882500 |
|
Mamta Bagla |
|
390000 |
|
Rishi Kumar Bagla HUF |
|
180000 |
|
Devanshi Akshat Jain |
|
240000 |
|
Neha Aiyush Bhuwalka |
|
247500 |
|
Waluj Investment and Trading Company Private Limited, India |
|
1459500 |
|
Aurangabad Motor
Manufacturers Private Limited, India |
|
2475000 |
|
Deccan Carbon
Products Limited, India |
|
2005500 |
|
Blue River Capital I LLC, Mauritius |
|
1150000 |
|
|
|
|
|
Total |
|
10030000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2014
|
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 |
11.47 |
|
Bodies corporate |
59.22 |
|
Directors or relatives of Directors |
29.31 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Auto Components which include Auto
Electricals, Aluminium Die Casting, Fasteners, etc. and also Power Generation
from Windmills. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
· The Saraswat Cooperative Bank Limited, Gajanan Maharaj Mandir Branch, Garkheda, Aurangabad - 431001, Maharashtra, India · IDBI Bank Limited, WTC Complex, IDBI Tower, Cuffe Parade, Mumbai - 400005, Maharashtra, India ·
State
Bank of India, Industrial Finance Branch, Tara Chambers, Mumbai - Pune Road,
Wakdewadi, Pune - 411003, Maharashtra, India |
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Facilities : |
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Auditors : |
|
|
Name : |
S.R Batliboi and Company LLP Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar
[West], Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates : |
·
BG LI-IN Electricals Limited
[U31200MH1999PLC130298] ·
Aurangabad Wheels and Rims Private Limited [U34300PN2003PTC017753] |
|
|
|
|
Joint venture : |
OMR Bagla Automotive Systems India Limited [U31904PN2006PLC128851] |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives : |
·
BG Appliances Private Limited
[U31404PN1998PTC012536] ·
Deccan Carbon Products Limited
[U21098PN1991PLC060509] ·
Waluj Investments and Trading Company Private
Limited [U67110PN1993PTC074896] ·
Manshi Electronics Private Limited [U51395MH2004PTC146495] ·
BMR Hvac Limited [U34300PN2007PLC131072] ·
Haryana Auto Comp Private Limited
[U34300HR2006PTC036013] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
100,000 |
Preference Shares |
Re. 1/- each |
Rs. 0.100 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 150.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10030000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.300
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
100.300 |
114.000 |
114.086 |
|
(b) Reserves & Surplus |
849.280 |
893.073 |
823.980 |
|
(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) |
949.580 |
1007.073 |
938.066 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
434.060 |
47.629 |
88.265 |
|
(b) Deferred tax liabilities (Net) |
31.798 |
25.695 |
28.898 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
9.825 |
6.870 |
|
Total Non-current
Liabilities (3) |
465.858 |
83.149 |
124.033 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
297.146 |
356.903 |
426.741 |
|
(b) Trade
payables |
826.431 |
919.462 |
869.758 |
|
(c) Other
current liabilities |
289.246 |
180.675 |
240.781 |
|
(d) Short-term
provisions |
57.964 |
204.448 |
75.118 |
|
Total Current
Liabilities (4) |
1470.787 |
1661.488 |
1612.398 |
|
|
|
|
|
|
TOTAL |
2886.225 |
2751.710 |
2674.497 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1233.886 |
1249.003 |
1064.733 |
|
(ii)
Intangible Assets |
1.740 |
3.224 |
2.619 |
|
(iii)
Capital work-in-progress |
10.272 |
3.440 |
1.306 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
174.593 |
173.643 |
173.643 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
61.374 |
56.427 |
53.252 |
|
(e) Other Non-current
assets |
10.030 |
16.052 |
31.312 |
|
Total Non-Current
Assets |
1491.895 |
1501.789 |
1326.865 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
436.575 |
386.458 |
401.307 |
|
(c) Trade
receivables |
841.507 |
775.879 |
861.215 |
|
(d) Cash
and cash equivalents |
44.556 |
8.800 |
10.943 |
|
(e)
Short-term loans and advances |
63.296 |
58.276 |
48.083 |
|
(f) Other
current assets |
8.396 |
20.508 |
26.084 |
|
Total
Current Assets |
1394.330 |
1249.921 |
1347.632 |
|
|
|
|
|
|
TOTAL |
2886.225 |
2751.710 |
2674.497 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
6043.744 |
6466.583 |
6656.692 |
|
|
|
Other Income |
33.735 |
22.201 |
47.467 |
|
|
|
TOTAL (A) |
6077.479 |
6488.784 |
6704.159 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3974.718 |
4476.477 |
4692.604 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(20.297) |
7.073 |
(42.690) |
|
|
|
Employee benefit expense |
413.131 |
375.021 |
305.987 |
|
|
|
Other expenses |
1182.050 |
1146.570 |
1134.719 |
|
|
|
TOTAL (B) |
5549.602 |
6005.141 |
6090.620 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
527.877 |
483.643 |
613.539 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.980 |
48.767 |
70.995 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
458.897 |
434.876 |
542.544 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
197.337 |
130.736 |
137.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
261.560 |
304.140 |
404.566 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
72.454 |
76.709 |
129.064 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
189.106 |
227.431 |
275.502 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
408.186 |
361.836 |
153.718 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
22.743 |
27.550 |
|
|
|
Transfer to Capital Redemption Reserve |
0.000 |
0.000 |
0.086 |
|
|
|
Proposed dividend and tax thereon |
0.000 |
158.338 |
39.748 |
|
|
|
Total |
0.000 |
181.081 |
67.384 |
|
|
BALANCE CARRIED
TO THE B/S |
597.292 |
408.186 |
361.836 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
186.697 |
157.784 |
135.349 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
22.197 |
43.410 |
178.267 |
|
|
|
Stores & Spares |
12.238 |
26.134 |
10.936 |
|
|
|
Capital Goods |
79.556 |
101.974 |
59.600 |
|
|
TOTAL IMPORTS |
113.991 |
171.518 |
248.803 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.85 |
19.95 |
24.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.13 |
3.52 |
4.14 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.73 |
7.48 |
9.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.68 |
11.81 |
16.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.30 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.77 |
0.40 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
0.75 |
0.84 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
114.086 |
114.000 |
100.300 |
|
Reserves & Surplus |
823.980 |
893.073 |
849.280 |
|
Net worth |
938.066 |
1007.073 |
949.580 |
|
|
|
|
|
|
long-term borrowings |
88.265 |
47.629 |
434.060 |
|
Short term borrowings |
426.741 |
356.903 |
297.146 |
|
Total borrowings |
515.006 |
404.532 |
731.206 |
|
Debt/Equity ratio |
0.549 |
0.402 |
0.770 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6656.692 |
6466.583 |
6043.744 |
|
|
|
(2.856) |
(6.539) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6656.692 |
6466.583 |
6043.744 |
|
Profit |
275.502 |
227.431 |
189.106 |
|
|
4.14% |
3.52% |
3.13% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FINANCIAL HIGHLIGHTS:
FY2013 was a difficult year for automotive industry. The Motorcycle growth was showing negative growth from FY2010 to FY2012. However from FY2013 there is marginal growth seen of 0.10% and in FY2014 the overall Motorcycle segment shown growth of 4%. Sales of motorcycles of Bajaj Auto Limited, your major customer, has declined from 3.76 million units in 2012-13 to 3.42 million units in 2013-14, representing a decline of 9% (Sales in Domestic market declined by 15% and in Export market increased by 6%). During the year, the Company’s Net Revenue and Other Income was Rs. 6077.500 Millions as against Rs. 6488.800 Millions for the previous year. EBITDA decreased to Rs. 527.900 millions as against Rs. 542.600 Millions in the previous year. Profit After Tax for the year was Rs. 189.100 Millions as against Rs. 227.400 Millions in the previous year.
The growth in the sales of your Company is largely coming from the growth in the motorcycle market and expansion of product offering by your Company. Y our Company has also received new orders from other customers including overseas customers. The Company is continuing its efforts to add new customers, expand product offerings and achieve continuous reduction in operating cost through TPM.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long Term Borrowing
|
|
|
|
Borrowing from government semi-government bodies |
27.814 |
47.629 |
|
Short Term
Borrowing |
|
|
|
Working capital loans from banks |
100.000 |
0.000 |
|
Total |
127.814 |
47.629 |
INDEX OF CAHRGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10445451 |
28/08/2013 |
15,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
GAJANAN MAHARAJ
MANDIR BRANCH, GARKHEDA, AURANGABAD, MAHARASHTRA - 431001, INDIA |
B83231274 |
|
2 |
10444541 |
22/08/2013 |
200,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
GAJANAN MAHARAJ
MANDIR BRANCH, GARKHEDA, AURANGABAD, MAHARASHTRA - 431001, INDIA |
B82859349 |
|
3 |
10444546 |
16/12/2014 * |
300,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
GAJANAN MAHARAJ
MANDIR BRANCH, GARKHEDA, AURANGAB AD, MAHARASHTRA - 431001, INDIA |
C37863560 |
|
4 |
10243378 |
15/03/2011 * |
11,789,000.00 |
THE SARASWAT COOPERATIVE
BANK LIMITED |
AURANGABAD
BRANCH, MADHU SHILP, PLOT NO. 6, C/2, |
B10323970 |
|
5 |
10203785 |
08/06/2010 * |
180,000,000.00 |
IDBI BANK
LIMITED |
IDBI BANK LTD, WTC
COMPLEX,IDBI TOWER, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A87404463 |
|
6 |
10107012 |
16/06/2008 |
50,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
CIDCO,
AURANGABAD, MAHARASHTRA - 431003, INDIA |
A39885942 |
|
7 |
10111583 |
15/03/2011 * |
160,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
AURANGABAD
BRANCH, MADHU SHILP, PLOT NO. 6, C/2, |
B10323772 |
|
8 |
10107013 |
06/06/2008 |
60,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
CIDCO,
AURANGABAD, MAHARASHTRA - 431003, INDIA |
A39886163 |
|
9 |
10031103 |
30/12/2006 |
10,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
OPP. GAJANAN MAHARAJ
MANDIR,, GARKHEDA AREA,, AURANGABAD, MAHARASHTRA - 431105, INDIA |
A08875395 |
|
10 |
10031121 |
30/12/2006 |
10,000,000.00 |
THE SARASWAT
COOPERATIVE BANK LIMITED |
OPP. GAJANAN MAHARAJ
MANDIR,, GARKHEDA AREA,, AURANGABAD, MAHARASHTRA - 431105, INDIA |
A08875536 |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Know-how
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.61.76 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.