MIRA
INFORM REPORT
|
Report No. : |
307116 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DENSO KIRLOSKAR INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
30th K.M. Stone, Tumkur Road, NH-4, Vishveshwarapura, Nelamangala, |
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|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.05.1998 |
|
|
|
|
Com. Reg. No.: |
08-023708 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1832.383 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300KA1998PTC023708 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCD0042P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is engaged in manufacturing and trading of Auto spare parts. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 742000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is subsidiary of “Denso Corporation”. It is an established
company having satisfactory track. The company possesses an acceptable financial profile marked by
continuous support from its promoters by infusing funds in terms of capital,
along with part payment of its external borrowings. Although the repayment, there seems to be huge gearing in the books
mainly as a result of working capital intensive operations and curbed cash
inflows. Management has witnessed a growth in its revenue, whereas has reported
consecutive losses, leading to accumulation of the same during FY14. The ratings also take into consideration, the lethargic market
scenario as a result of flagging vehicles sales, high capital casts, high
interest rates, currency fluctuations and slowing down of investments in
manufacturing in the domestic industry. Moreover, there are prospects of recovery amid positive initiative
taken by the Modi-led government supported by considering some
diversification into adjacent markets which may help in mitigating risk. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of strong parentage, 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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: |
30th K.M. Stone, Tumkur Road, NH-4, Vishveshwarapura, Nelamangala,
Bangalore – 562123, Karnataka, India |
|
Tel. No.: |
91-8027-722339 / 722060 |
|
Fax No.: |
91-8027-722338 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Vikram Shreekant Kirloskar |
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|
Designation : |
Director |
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|
Address : |
Kirloskar Residence, Kirloskar Business Park, Bellary Road, Bangalore
– 560052, Karnataka, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.11.1958 |
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|
Date of Appointment : |
27.09.2010 |
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DIN No.: |
00007907 |
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Name : |
Toshihiro Saida |
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|
Designation : |
Managing director |
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|
Address : |
No 4-10, Minato - Chotokoname, Aichi-Ken Japan |
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|
Date of Birth/Age : |
30.09.1961 |
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|
Date of Appointment : |
01.04.2013 |
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DIN No.: |
03084221 |
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Other Directorship:
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Name : |
Yoshihito Sahashi |
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Designation : |
Alternate director |
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|
Address : |
Apartment No.B-211, Sobha Ivory, St. John’s Road, Bangalore – 560042, Karnataka,
India |
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|
Date of Birth/Age : |
20.05.1973 |
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|
Date of Appointment : |
26.06.2013 |
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DIN No.: |
06491925 |
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Other Directorship:
|
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|
Name : |
Seiichiro Mori |
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|
Designation : |
Alternate director |
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|
Address : |
Flat No.511, 5th Block, Embassy Habitat No.59, Palace Road,
Vasanthnagar, Bangalore – 560052, Karnataka, India |
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|
Date of Birth/Age : |
17.02.1964 |
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Date of Appointment : |
05.06.2014 |
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DIN No.: |
06551687 |
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Other Directorship:
|
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|
Name : |
Katsuhisa Shimokawa |
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Designation : |
Director |
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|
Address : |
3-14-11, Ueji, Okazaki-shi, Aichi, Japan |
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Date of Birth/Age : |
24.02.1959 |
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Date of Appointment : |
26.06.2013 |
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DIN No.: |
06611688 |
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Other Directorship:
|
||||||||||||||||||||||||||||
|
Name : |
Hirotsugu Takeuchi |
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|
Designation : |
Director |
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|
Address : |
2-912, Kamakurudai, Midori – KU, Nagoya-shi, Aichi, NA Japan |
|||||||||||||||||||||||||||
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Date of Birth/Age : |
14.11.1964 |
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Date of Appointment : |
25.09.2014 |
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DIN No.: |
06611715 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Alka Agarwal |
|
Designation : |
Secretary |
|
Address : |
No.202, Prema Grand, # 1, 2nd Cross, OMBR Layout, Chikka,
Banasawadi Main Road, Bangalore – 560043, Karnataka, India |
|
Date of Birth/Age : |
10.02.1979 |
|
Date of Appointment : |
17.09.2014 |
|
PAN No.: |
AGBPA2762N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Denso Corporation, Japan |
|
179338304 |
|
Kirloskar Systems Limited, India |
|
3900000 |
|
|
|
|
|
Total |
|
183238304 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2014
|
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 |
98.00 |
|
Bodies corporate |
2.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in manufacturing and trading of Auto spare parts. |
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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 |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
UFJ Bank Limited, New Delhi Brnch , 15 Kasturba Gndhi , New Delhi - 110001, India Honkong and Shanghai Banking Corporation Limited, Manipal Centre, Dickenson Road , Bangalore - 560042, Karnataka, India |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, Anchorage II, 100/2, Richmond Road, Bangalore - 560 025, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company: |
Denso Corporation |
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|
Fellow subsidiaries
with whom the Company had transactions in the
year : |
· Denso International Asia Pte Limited · Denso Manufacturing Michigan Inc. · Denso Manufacturing Vietnam · Denso Thailand Company Limited · Denso Tool & Die (Thailand) Company Limited · P.T.Denso Indonesia Company Limited · Denso DO Brasil LTDA. · Denso Tokyo Sales · Denso Malasia SDN BHD · Denso Unity Service Corporation · PT. TD Automotive Compressor Indonesia · Denso International India Private Limited [U74210DL1999PTC099530] · Denso India Limited [L52110DL1984PLC019375] · Denso Haryana Private Limited [U74899DL1997PTC089205] · Denso Subros Thermal Engineering Centre India Limited [U93000DL2011FLC212269] · Denso Sales India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
186,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1860.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
183,238,304 |
Equity Shares |
Rs.10/- each |
Rs. 1832.383
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 |
1832.383 |
1048.069 |
355.000 |
|
(b) Reserves & Surplus |
(1572.947) |
(811.651) |
(334.211) |
|
(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) |
259.436 |
236.418 |
20.789 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
800.000 |
1800.000 |
1100.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
13.213 |
13.468 |
6.028 |
|
Total
Non-current Liabilities (3) |
813.213 |
1813.468 |
1106.028 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1436.479 |
2395.104 |
2017.833 |
|
(b) Trade payables |
826.276 |
1105.623 |
1265.167 |
|
(c) Other current liabilities |
1064.115 |
210.654 |
224.317 |
|
(d) Short-term provisions |
8.993 |
6.023 |
4.959 |
|
Total
Current Liabilities (4) |
3335.863 |
3717.404 |
3512.276 |
|
|
|
|
|
|
TOTAL |
4408.512 |
5767.290 |
4639.093 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1408.260 |
2015.072 |
1867.554 |
|
(ii) Intangible Assets |
1.681 |
3.416 |
4.412 |
|
(iii) Capital work-in-progress |
1.428 |
19.535 |
163.866 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
69.899 |
66.981 |
76.360 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1481.268 |
2105.004 |
2112.192 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
985.368 |
1195.343 |
1138.022 |
|
(c) Trade receivables |
581.085 |
848.337 |
731.912 |
|
(d) Cash and cash equivalents |
573.025 |
803.724 |
19.045 |
|
(e) Short-term loans and
advances |
727.024 |
765.559 |
615.924 |
|
(f) Other current assets |
60.742 |
49.323 |
21.998 |
|
Total
Current Assets |
2927.244 |
3662.286 |
2526.901 |
|
|
|
|
|
|
TOTAL |
4408.512 |
5767.290 |
4639.093 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL (A) |
6044.763 |
5752.234 |
3194.846 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
TOTAL (B) |
6084.192 |
5582.278 |
3348.965 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
(39.429) |
169.956 |
(154.119) |
|
|
|
|
|
|
|
|
FINANCIAL EXPENSES (D) |
351.897 |
295.308 |
84.626 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(391.326) |
(125.352) |
(238.745) |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
385.655 |
359.019 |
114.406 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(776.982) |
(484.371) |
(353.151) |
|
|
|
|
|
|
|
|
TAX (H) |
0.000 |
0.000 |
5.073 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(776.982) |
(484.371) |
(358.224) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
234.551 |
115.126 |
Nil |
|
|
TOTAL EARNINGS |
234.551 |
115.126 |
Nil |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
4.24 |
4.62 |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(12.85) |
(8.42) |
(11.21) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(0.65) |
2.95 |
(4.82) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.63) |
(8.43) |
(7.89) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.99) |
(2.05) |
(16.99) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.62 |
17.74 |
149.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.99 |
0.72 |
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 |
355.000 |
1048.069 |
1832.383 |
|
Reserves & Surplus |
(334.211) |
(811.651) |
(1572.947) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
20.789 |
236.418 |
259.436 |
|
|
|
|
|
|
long-term borrowings |
1100.000 |
1800.000 |
800.000 |
|
Short term borrowings |
2017.833 |
2395.104 |
1436.479 |
|
Total borrowings |
3117.833 |
4195.104 |
2236.479 |
|
Debt/Equity ratio |
149.975 |
17.744 |
8.621 |
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 |
3194.846 |
5752.234 |
6044.763 |
|
|
|
80.047 |
5.085 |
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 |
3194.846 |
5752.234 |
6044.763 |
|
Profit/Loss |
(358.224) |
(484.371) |
(776.981) |
|
|
(11.21%) |
(8.42%) |
(12.85%) |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others [For the terms of repayment refer the text block of borrowings] |
800.000 |
1800.000 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
1436.479 |
2395.104 |
|
|
|
|
|
Total |
2236.479 |
4195.104 |
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
FINANCIAL HIGHLIGHTS:
The Gross revenue of the Company for the year was Rs. 6044.763 Millions as against Rs. 5752.234 Millions in the previous year showing growth of 5%.
Earnings before depreciation, interest, tax and amortization (EBDITA) stood at loss of Rs. 39.429 Millions against profit of Rs. 169.956 Millions in the previous year showing down trend in the profitability by 123%.
Profit before tax (PBT) stood at Loss of Rs. (776.982) Millions as Compared to loss of (484.371) Millions in the previous year and profit after tax (PAT) stood at loss of Rs. (776.982) Millions as against Loss of Rs. (484.371) Millions in the previous year.
FIXED 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,
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.62.43 |
|
|
1 |
Rs.95.02 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
44 |
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.