MIRA INFORM REPORT
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Report No. : |
308808 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
RENATA PRECISION COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
J 526, MIDC Bhosari, Pune – 411026, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.04.2006 |
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Com. Reg. No.: |
11-128359 |
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Capital
Investment / Paid-up Capital : |
Rs. 22.500 Millions |
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CIN No.: [Company Identification
No.] |
U29299PN2006PTC128359 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNER08222E |
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PAN No.: [Permanent Account No.] |
AADCR3007N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Moulds and Dies, Plastic Moulded Components, Metal Stamped Components, etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 176000 |
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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 record. General financial position of the company seems to be sound.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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 1 : |
J 526, MIDC Bhosari, Pune – 411026, Maharashtra, India |
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Tel. No.: |
91-20-66114920 |
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Fax No.: |
91-20-66114921 |
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E-Mail : |
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Website : |
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Factory 2 : |
Gat No. 754, A/P Karandi, Taluka Shirur, District Pune - 412208, Maharashtra, India |
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E-Mail : |
DIRECTORS
AS ON 22.09.2014
|
Name : |
Mr. Rohit Shrichand Thawani |
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Designation : |
Managing director |
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Address : |
D-31, Marigold, Kalyani Nagar, Pune – 411014, Maharashtra, India |
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Date of Birth/Age : |
17.07.1965 |
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Date of Appointment : |
31.03.2007 |
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DIN No.: |
01870022 |
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Other Directorship :
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Name : |
Mrs. Namrata Rohit Thawani |
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Designation : |
Director |
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Address : |
D-31, Marigold, Kalyani Nagar, Pune – 411014, Maharashtra, India |
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Date of Birth/Age : |
27.09.1972 |
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Date of Appointment : |
20.04.2006 |
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DIN No.: |
01883566 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Rohit Shrichand Thawani |
2209000 |
98.18 |
|
Namrata Rohit Thawani |
41000 |
1.82 |
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|
|
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Total |
2250000 |
100.00 |
AS ON 22.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Moulds and Dies, Plastic Moulded Components, Metal Stamped Components, etc. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Axis Bank Limited Corporate Banking Branch, 214-215, City Mall, Near Pune University, Ganeshkhind Road, Pune - 411007, Maharashtra, India · Bank of Baroda SPL. SSI Pimpri, Khoja Building, Opposite KSB Pumps, Pimpri,
Pune - 411018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. P. Shaha and Company Chartered Accountants |
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Address : |
2, Pramukh Park Apartments, Shukrawar Peth, Sathe Colony, Pune –
411002, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ACQPS4695F |
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Related Party : |
Renata Lighting Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
2,250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 22.500 Millions |
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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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
22.500 |
22.500 |
14.700 |
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(b) Reserves & Surplus |
39.234 |
18.588 |
16.065 |
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(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
2.000 |
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Total Shareholders’
Funds (1) + (2) |
61.734 |
41.088 |
32.765 |
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(3) Non-Current
Liabilities |
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(a) Long-term borrowings |
59.588 |
62.376 |
71.971 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
59.588 |
62.376 |
71.971 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
50.648 |
56.613 |
58.534 |
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(b)
Trade payables |
25.103 |
19.084 |
31.040 |
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(c)
Other current liabilities |
0.000 |
0.000 |
0.000 |
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(d) Short-term
provisions |
16.318 |
4.747 |
8.924 |
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Total Current
Liabilities (4) |
92.069 |
80.444 |
98.498 |
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TOTAL |
213.391 |
183.908 |
203.234 |
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II.
ASSETS |
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(1) Non-current assets |
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(a)
Fixed Assets |
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(i)
Tangible assets |
92.646 |
78.490 |
83.230 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
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(e) Other
Non-current assets |
0.000 |
0.153 |
0.112 |
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Total Non-Current
Assets |
92.646 |
78.643 |
83.342 |
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(2) Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
62.546 |
54.326 |
60.196 |
|
(c)
Trade receivables |
40.834 |
31.202 |
36.723 |
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(d) Cash
and cash equivalents |
1.533 |
0.193 |
0.930 |
|
(e)
Short-term loans and advances |
7.666 |
13.486 |
14.544 |
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(f)
Other current assets |
8.166 |
6.058 |
7.499 |
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Total
Current Assets |
120.745 |
105.265 |
119.892 |
|
|
|
|
|
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TOTAL |
213.391 |
183.908 |
203.234 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Revenue from Operations |
377.971 |
239.121 |
210.968 |
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Other Income |
1.165 |
1.090 |
0.738 |
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TOTAL (A) |
379.136 |
240.211 |
211.706 |
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Less |
EXPENSES |
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|
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|
339.409 |
205.124 |
180.436 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including Financial and Depreciation Expenses) |
35.087 |
31.270 |
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Less |
FINANCIAL
EXPENSES (D) |
|
17.661 |
15.821 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
17.426 |
15.449 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
13.452 |
11.793 |
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PROFIT BEFORE
TAX (E-F) (G) |
39.727 |
3.974 |
3.656 |
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Less |
TAX (H) |
12.500 |
1.450 |
0.810 |
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PROFIT AFTER TAX
(G-H) (I) |
27.227 |
2.524 |
2.846 |
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EARNINGS IN FOREIGN
CURRENCY |
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Export Earnings |
49.718 |
32.738 |
19.456 |
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IMPORTS |
|
|
|
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|
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Purchase |
18.458 |
10.621 |
11.711 |
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Capital Goods |
16.882 |
0.000 |
16.837 |
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TOTAL IMPORTS |
35.340 |
10.621 |
28.548 |
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|
Earnings Per
Share (Rs.) |
12.10 |
1.12 |
1.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
7.20 |
1.06 |
1.35 |
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Operating Profit Margin (PBDIT/Sales) |
(%) |
NA |
14.67 |
14.82 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
18.62 |
2.16 |
1.80 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.64 |
0.10 |
0.11 |
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|
Debt Equity Ratio (Total Debt/Networth) |
|
1.79 |
2.90 |
3.98 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.31 |
1.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
14.700 |
22.500 |
22.500 |
|
Reserves & Surplus |
16.065 |
18.588 |
39.234 |
|
Share Application money pending allotment |
2.000 |
0.000 |
0.000 |
|
Net
worth |
32.765 |
41.088 |
61.734 |
|
|
|
|
|
|
Long-term borrowings |
71.971 |
62.376 |
59.588 |
|
Short term borrowings |
58.534 |
56.613 |
50.648 |
|
Total
borrowings |
130.505 |
118.989 |
110.236 |
|
Debt/Equity ratio |
3.983 |
2.896 |
1.786 |
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 |
210.968 |
239.121 |
377.971 |
|
|
|
13.345 |
58.067 |
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 |
210.968 |
239.121 |
377.971 |
|
Profit |
2.846 |
2.524 |
27.227 |
|
|
1.35% |
1.06% |
7.20% |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10545849 |
30/04/2014 |
1,290,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C41795006 |
|
2 |
10114709 |
22/09/2014 * |
272,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH, 214/215, CITY MALL, S.NO. 132, PLOT NO.1, GANESH KHIND (UNIVERSITY) ROAD, PUNE, MAHARASHTRA - 411007, INDIA |
C29543402 |
|
3 |
10077424 |
25/10/2007 |
9,975,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
SURYAKIRAN HOTEL BUILDING, 1ST FLOOR, C-8, MUMBAI PUNE ROAD, CHINCHWAD, PUNE, MAHARASHTRA - 411019, INDIA |
A27858919 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans from Related Parties |
0.000 |
0.350 |
|
From Other Parties |
0.000 |
5.158 |
|
|
|
|
|
Total |
0.000 |
5.508 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from J 256, MIDC,
Bhosari, Pune - 411026, Maharashtra, India to the present address
w.e.f.01.08.2009
BUSINESS OPERATIONS:
PERFORMANCE
During the year, the revenue from operations
has increased by 58% as compared to previous year. The net profits after tax
stood at 7.20% as against 1.06% in the preceding year.
The turnover has jumped mainly due to addition
of new customers which accounted for 66% of the increase in sales and increase
in business with existing customers due to addition of new components.
The company has bagged a valuable order from Rieter,
a Textile Machine Manufacturer. This resulted into increase in sales and
reduction of dependence on Auto Sector.
ACHIEVEMENTS
In the month of October, 2013 the Volkswagen
has presented a “Quality Performance” award to the company at their Vendor
meet.
The company was invited by Keihin to present
to Keihin suppliers at their Vendor meet for success in quality performance.
These opportunities to present the company to
the business community have enhanced company’s reputation as a “Quality” supplier
of precision components. Further, the success in quality performance is now
being seen in company’s financial performance.
FUTURE OUTLOOK
Despite the sluggish growth of the Indian
economy, the company has performed well during 2013-2014. Due to the intake of
new orders, the outlook for 2014-2015 is very positive.
In view of the opportunities for further
expansion and new orders in hand, the company has undertaken construction of a
new building at the Karandi Plant, which is expected to be competed in August
2014. Substantial expansion of Moulding capacity is planned for 2014-2015 at
the Karandi Plant. Further, Stamping capacity has been enhanced since April
2014, which will give a boost to the stamping business. Significant investment
is planned for the Tool Room to both increase capacity as well as increase
capabilities.
FIXED ASSETS
Building
and Shed
Building
and Shed – Shikarapur
Cars
and Motor Cycle
Computer
Furniture
and Fixture
Plant
and Machinery
Land
Moulds
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 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. 62.25 |
|
|
1 |
Rs. 95.57 |
|
Euro |
1 |
Rs. 71.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.