MIRA INFORM REPORT
|
Report Date : |
01.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
AMTEK AUTO LIMITED |
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Registered
Office : |
Plot No.16, Industrial Area, Rozka Meo, P.O. Sohna, Gurgaon – 122003,
Haryana |
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Country : |
India |
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Financials (as
on) : |
30.09.2014 |
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Date of
Incorporation : |
04.08.1988 |
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Com. Reg. No.: |
05-030333 |
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Capital
Investment / Paid-up Capital : |
Rs. 440.635 Millions |
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CIN No.: [Company Identification
No.] |
L27230HR1988PLC030333 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Auto Components. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 15000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Fundamentals of the company is decent. Financial position of the
company is strong and healthy. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 |
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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
|
Rating Agency Name |
CARE |
|
Rating |
Proposed non – convertible debenture = “AA” |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
25.08.2014 |
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.
INFORMATION DECLINED
MANAGEMENT NON CO – OPRATIVE
(91-124-2362140)
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No.16, Industrial Area, Rozka Meo, P.O. Sohna, Gurgaon – 122003,
Haryana, India |
|
Tel. No.: |
91-124-2362140 |
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Fax No.: |
91-124-2662454 |
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E-Mail : |
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Website : |
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Corporate Office : |
3, Local Shopping Centre, Pam posh Enclave, G.K.-I, New Delhi -
110048, India |
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Tel. No.: |
91-11-42344444 |
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Fax No.: |
91-11-42344000 |
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E-Mail : |
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Web site : |
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Factory 2: |
Begumpur Khataula, P.O. Khandsa, Distt. Gurgaon, Haryana, India |
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Tel. No.: |
91-124-2373412 |
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Fax No.: |
91-124-2373408 |
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E-Mail : |
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Factory 3: |
Vill. Mohammadpur, Jharsa, Distt. Gurgaon, Haryana , India |
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Tel. No.: |
91-124-2372152 |
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Fax No.: |
91-124-2373410 |
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Factory 4: |
Shed No. 1, 2, 3, 4 & 5, Village-Malpura, Dharuhera,
Distt. - Rewari, Haryana, India |
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Factory 5: |
Plot No. 1, Sector-II, New Industrial Area, Distt. Raisen, Mandideep -
462046, Madhya Pradesh, India |
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Factory 6: |
Plot No. 1, Industrial Area, Dharuhera, Rewari, Haryana, India |
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Factory 7: |
Plot No. 53,Sector III, Industrial Area, IMT Manesar, Gurgaon,
Haryana, India |
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Factory 8: |
Gat No. 1074-1085 Sanaswadi Shikrapur Chakan Road, Taluka Shirpur,
Pune, Maharashtra, India |
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Factory 9: |
Dadi Bhola, Opposite Peer Sthan, Nalagarh, Distt. Solan - 174101, Himachal Pradesh, India |
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Factory 10: |
Dadi Bhola, Opposite Peer Sthan, Nalagarh Unit 2, Distt. – Solan - 174101, Himachal Pradesh, India |
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Factory 11: |
B-6, MIDC Area, Ranjangaon, Pune - 412210, Maharashtra, India |
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Factory 12: |
Survey No.1, C-2, VR-5, Tata Nano Vendor Park, Sanand, Gujarat, India |
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Factory 13: |
Plot No.-73, Tata Nano Vendor Park, Distt.-Udham Singh Nagar, Uttarakhand, India |
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Factory 14: |
Narsingpur Road, Begampur Khautola, Gurgaon - 122001, Haryana, India |
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Factory 15: |
RNS-21, SPICOT Industrial Growth Center, Sriperumbudur Taluk, Oragadam, Kencheepuram, Tamilnadu, India |
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Factory 16: |
Gat No.-251, Telegaon, Chaken Road, Kharabwadi, Khed, Pune, Maharashtra, India |
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Factory 17: |
Plot No. 1, Industrial Area, Dharuhera, Distt. – Rewari – 123106, Haryana, India |
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Factory 18: |
Gat No. 1081/1 & 1079, Shikrapur Chakan Road, Talegaon Dhamdhere, Sanaswadi - 412208, Maharashtra, India |
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Factory 19: |
Plot No. 191, Sector-4, Bawal, Distt. - Rewari, Haryana-123501, India |
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Factory 20: |
Autoswift Division, GGN, Delhi, Gzb, Bhiwadi and Pune, Maharashtra, India |
DIRECTORS
AS ON 31.12.2014
|
Name : |
Mr. Arvind Dham |
|
Designation : |
Chairman and Director |
|
Date of Birth/Age : |
15.02.1961 |
|
Qualification : |
B. Arch from Chandigarh College of Architecture, Punjab
University and MBA. |
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Expertise : |
He is an eminent industrialist having more than 24 years of experience in the field of Project Planning, implementation, International Trade and Business Management. |
|
Other Directorship: |
· Amtek India Limited · ACIL Limited · Ahmednagar Forgings Limited · Symbios Personnel Advices and Services Limited · Amtek Laboratories Limited |
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Name : |
Mr. John Ernest Flintham |
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Designation : |
Sr. Managing Director |
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Date of Birth/Age : |
Mechanical Engineer |
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Qualification : |
39 Years |
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Date of Appointment: |
31.07.2007 |
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Name : |
Mr. D.S. Malik |
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Designation : |
Managing Director |
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|
Name : |
Mr. Gautam Malhotra |
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Designation : |
Director |
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Date of Birth/Age : |
03.03.1979 |
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Qualification : |
B.E. (Computer Science),MBA from University of
Manchester, U.K |
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Expertise: |
Specialization in Finance, Marketing & Acquisitions
etc. |
|
Other Directorship: |
· Amtek India Limited · Ahmednagar Forgings Limited · Amtek Laboratories Limited · ACIL Limited · STESALIT Limited · JMT Auto Limited |
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|
Name : |
Mr. Rajeev Thakur |
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Designation : |
Director |
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|
Name : |
Mr. Sajay Chhabra |
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Designation : |
Director |
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Date of Birth/Age : |
18.07.1960 |
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Qualification : |
B.Tech. (Mech.), MBA (Marketing) |
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Expertise : |
He has vast experience in the field of technical, marketing and project implementation. |
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Other Directorship: |
Amtek India Limited |
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Name : |
Mr. B Lugani |
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Designation : |
Director |
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Name : |
Mr. Raj Narain Bhardwaj |
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Designation : |
Director |
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Name : |
Mr. Sanjiv Bhasin |
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Designation : |
Director |
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Name : |
Mr. B Venugopal |
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Designation : |
Nominee Director |
KEY EXECUTIVES
|
Name : |
Mr. Rajeev Raj Kumar |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
2797240 |
1.27 |
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|
105115410 |
47.71 |
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|
107912650 |
48.98 |
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|
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Total shareholding of Promoter and Promoter Group (A) |
107912650 |
48.98 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
1107566 |
0.50 |
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|
9008256 |
4.09 |
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|
71729627 |
32.56 |
|
|
10028351 |
4.55 |
|
|
10028351 |
4.55 |
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|
91873800 |
41.70 |
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|
|
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|
12162350 |
5.52 |
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|
|
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|
5504486 |
2.50 |
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|
1793156 |
0.81 |
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|
1071486 |
0.49 |
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|
446662 |
0.20 |
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|
273287 |
0.12 |
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|
349483 |
0.16 |
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Trusts |
554 |
0.00 |
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Overseas Corporate |
1500 |
0.00 |
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|
20531478 |
9.32 |
|
Total Public shareholding (B) |
112405278 |
51.02 |
|
Total (A)+(B) |
220317928 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
|
Total (A)+(B)+(C) |
220317928 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Auto Components. |
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Products : |
v Auto Components |
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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 : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Corporation Bank · Andhra Bank · Indian Overseas Bank · IDBI Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Manoj Mohan and Associates Chartered Accountants |
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Address : |
New Delhi, India |
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Subsidiaries: |
· Ahmednagar Forging Limited · Amtek Deutshland GmbH · Amtek Investment UK Limited · Amtek Germany Holding GP GmBH · Amtek Germany Holding GmBH and Company KG · Amtek Holding BV · Amtek Global Technologies Pte. Limited · Amtek Transportation Systems Limited · Alliance Hydro Power Limited · Amtek India Limited · Amtek Defence Technologies Limited · JMT Auto Limited |
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Subsidiaries of Subsidiaries: |
· Amtek Tekfor Holding GmbH · Neumayer Tekfor GmbH · Tekfor Services GmbH · Neumayer Tekfor Rotenburg GmbH · Neumayer Tekfor Schmolln GmbH · Neumayer Tekfor Engineering GmbH · GfsV · Neumayer Tekfor Japan Company Limited · Tekfor Inc. · Tekfor Maxico SA de CV · Neumayer Tekfor Automotive Brasil Ltda. · Neumayer Tekfor SpA · Tekfor Maxico Services · Tekfor Services Inc. · SFE GmbH · Amtek Powertrain Components B.V. · Amtek Powertrain RUS LLC · Amertec Systems Private Limited |
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Joint Venture’s: |
· Amtek Tekfor Automotive Limited · MPT Amtek Automotive (India) Limited · SMI Amtek Crankshafts Private Limited |
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Joint Ventures of Subsidiaries: |
Amtek Railcar Private Limited |
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|
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Associate’s: |
· ACIL Limited (Formerly known as Amtek Crankshafts India Limited) · ARGL Limited (Formerly known as Amtek Ring Gears Limited) |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000000 |
Equity Shares |
Rs. 2/- each |
Rs. 800.000 Millions |
|
3500000 |
Preference Shares |
Rs. 100/- each |
Rs. 350.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
220317928 |
Equity Shares |
Rs.2/- each |
Rs. 440.636 Millions |
|
|
|
|
|
NOTE
The company has only one class of shares referred to as
Equity Shares having a par value of Rs. 2/- per share. Each shareholder of
equity Shares is entitled to one vote per share.
The reconciliation of
the number of shares outstanding and the amount of share capital as at
September 30, 2014 and September 30, 2013 is set out below:
|
Particulars |
As
at 30.09.2014 |
|
|
Number
of Shares |
Rs. in Millions |
|
|
Number of shares at the beginning |
218623745 |
437.247 |
|
Add: Shares Issued |
1694183 |
3.389 |
|
Less: Shares Bought Back |
--- |
--- |
|
Number of Shares at the end |
220317928 |
440.636 |
Details of shares bought back, during the last five years
|
Nature |
30.06.2013 |
30.06.2012 |
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
Equity Shares |
19,23,999 |
12,626,001 |
Nil |
Nil |
Nil |
Details of Persons Holding more than 5% Share Capital
|
Particulars |
As
at 30.09.2014 |
|
|
Number
of Shares |
% of Holding |
|
|
Forbes Builders Private Limited |
17859895 |
8.11% |
|
Turjo Arts Private Limited |
15868390 |
7.20% |
|
Amtek Laboratories Limited |
15603395 |
7.08% |
|
Warrol Limited |
-- |
-- |
|
Lic Of India Profit Plus Growth Fund |
-- |
-- |
|
Shivani Horticulture Private Limited |
15279576 |
6.94% |
|
Warburg Pincus International LLC A/c Stoneridge
Investment Limited |
-- |
-- |
|
LLC A/c Stoneridge Investment Limited |
-- |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.09.2014 |
30.09.2013 (15 Months) |
30.06.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
440.636 |
437.247 |
441.095 |
|
(b) Reserves & Surplus |
50895.245 |
47541.197 |
43391.840 |
|
(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) |
51335.881 |
47978.444 |
43832.935 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term
borrowings |
52166.396 |
53361.235 |
27348.643 |
|
(b) Deferred tax liabilities (Net) |
5288.653 |
3801.907 |
3044.111 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
139.360 |
93.842 |
120.498 |
|
Total Non-current
Liabilities (3) |
57594.409 |
57256.984 |
30513.252 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
11529.005 |
6960.469 |
7650.048 |
|
(b) Trade payables |
1616.976 |
1309.792 |
1893.140 |
|
(c) Other
current liabilities |
16312.709 |
8227.208 |
12052.415 |
|
(d) Short-term
provisions |
143.463 |
129.348 |
225.049 |
|
Total Current
Liabilities (4) |
29602.153 |
16626.817 |
21820.652 |
|
|
|
|
|
|
TOTAL |
138532.443 |
121862.245 |
96166.839 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
76705.106 |
61690.537 |
38350.316 |
|
(ii) Intangible
Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
5954.903 |
10033.868 |
5291.550 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
16655.713 |
17594.750 |
11252.402 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14833.457 |
10361.195 |
18143.123 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
114149.179 |
99680.350 |
73037.391 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
221.439 |
512.698 |
38.189 |
|
(b)
Inventories |
10571.949 |
7036.296 |
5805.828 |
|
(c) Trade
receivables |
8756.422 |
6294.034 |
5836.666 |
|
(d) Cash and
cash equivalents |
2232.909 |
6424.459 |
3146.623 |
|
(e)
Short-term loans and advances |
2593.813 |
1896.472 |
8270.054 |
|
(f) Other
current assets |
6.732 |
17.936 |
32.088 |
|
Total
Current Assets |
24383.264 |
22181.895 |
23129.448 |
|
|
|
|
|
|
TOTAL |
138532.443 |
121862.245 |
96166.839 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2014 |
30.09.2013 (15 Months) |
30.06.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
39506.834 |
30193.796 |
22027.914 |
|
|
|
Other Income |
490.161 |
1065.990 |
2511.358 |
|
|
|
TOTAL (A) |
39996.995 |
31259.786 |
24539.272 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
23682.284 |
18927.663 |
14020.250 |
|
|
|
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade |
(330.772) |
(317.881) |
(260.477) |
|
|
|
Employee benefit expense |
1468.024 |
1166.070 |
929.453 |
|
|
|
Other expenses |
2875.726 |
2074.785 |
1778.001 |
|
|
|
Exceptional Items |
0.000 |
(1898.461) |
0.000 |
|
|
|
TOTAL (B) |
27695.262 |
19952.176 |
16467.227 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12301.733 |
11307.610 |
8072.045 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4291.105 |
2753.158 |
1855.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8010.628 |
8554.452 |
6216.901 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3290.326 |
2837.386 |
2118.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4720.302 |
5717.066 |
4098.407 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1486.746 |
1209.855 |
1182.837 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3233.556 |
4507.211 |
2915.570 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2405.801 |
1879.575 |
81.154 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2665.200 |
1500.000 |
500.000 |
|
|
|
Transferred to debenture Redemption
Reserve Account |
180.000 |
2366.600 |
500.000 |
|
|
|
Proposed Dividend on Equity Share |
110.159 |
109.312 |
109.312 |
|
|
|
Dividend and Tax for Previous year |
0.508 |
(5.592) |
0.000 |
|
|
|
Corporate Dividend Tax |
16.869 |
10.665 |
7.837 |
|
|
BALANCE CARRIED
TO THE B/S |
2666.621 |
2405.801 |
1879.575 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export of Goods Calculated on F.O.B basis |
2491.687 |
2833.177 |
1524.167 |
|
|
|
Interest and Dividend |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
2491.687 |
2833.177 |
1524.167 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
74.269 |
104.492 |
114.965 |
|
|
|
Stores & Spares |
6.935 |
60.773 |
50.844 |
|
|
|
Capital Goods |
860.960 |
962.120 |
905.538 |
|
|
TOTAL IMPORTS |
942.164 |
1127.385 |
1071.347 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.78 |
20.62 |
13.38 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2014 |
30.09.2013 |
30.06.2012 |
|
|
(15
Months) |
|||
|
Net Profit Margin (PAT/Sales) |
(%) |
8.18 |
14.93 |
13.24 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
31.14 |
37.45 |
36.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.07 |
6.07 |
5.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.12 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.24 |
1.26 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82 |
1.33 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
441.095 |
437.247 |
440.636 |
|
Reserves & Surplus |
43391.840 |
47541.197 |
50895.245 |
|
Net
worth |
43832.935 |
47978.444 |
51335.881 |
|
|
|
|
|
|
long-term borrowings |
27348.643 |
53361.235 |
52166.396 |
|
Short term borrowings |
7650.048 |
6960.469 |
11529.005 |
|
Total
borrowings |
34998.691 |
60321.704 |
63695.401 |
|
Debt/Equity
ratio |
0.798 |
1.257 |
1.241 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
22027.914 |
30193.796 |
39506.834 |
|
|
|
37.071 |
30.844 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2012 |
30.09.2013 |
30.09.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
22027.914 |
30193.796 |
39506.834 |
|
Profit |
2915.570 |
4507.211 |
3233.556 |
|
|
13.24% |
14.93% |
8.18% |
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 |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
Yes |
|
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 |
Yes |
(Rs. In Million)
UNSECURED LOANS
|
PARTICULAR |
30.09.2014 (Rs.
In Millions) |
30.06.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Bonds / Debentures |
|
|
|
(i) 10.25% Non-Convertible Debentures |
0.000 |
0.000 |
|
(ii) 5.625% Foreign Currency Convertible Bonds |
0.000 |
0.000 |
|
External Commercial Borrowings |
821.514 |
1674.053 |
|
Total |
821.514 |
1674.053 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10481401 |
17/02/2014 |
2,000,000,000.00 |
STATE BANK OF MYSORE |
CORPORATE ACCOUNTS BRANCH, NO. 3, 4 & 5, DDA BUILDINGS, NEW DELHI, DELHI - 110019, INDIA |
B97977730 |
|
2 |
10463708 |
25/11/2013 |
2,500,000,000.00 |
BANK OF MAHARASHTRA |
B-29, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B90914011 |
|
3 |
10467460 |
23/11/2013 |
2,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B92485473 |
|
4 |
10457793 |
30/10/2013 |
3,500,000,000.00 |
IFCI LIMITED |
IFCI TOWER, 61,NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B88622766 |
|
5 |
10460584 |
26/09/2013 |
3,000,000,000.00 |
CANARA BANK |
PCB- CONNAUGHT PLACE, 2ND FLOOR,WORLD TRADE TOWER, BARAKHAMBA LANE, DELHI - 110001, INDIA |
B89693675 |
|
6 |
10435997 |
24/06/2013 |
7,500,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B79252029 |
|
7 |
10427670 |
22/05/2013 |
2,750,000,000.00 |
STANDARD CHARTERED BANK |
CREDIT DOCUMENTATION UNIT, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B75802249 |
|
8 |
10427063 |
07/05/2013 |
3,500,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, JAWAHAR VYAPAR BHAWAN, |
B75601708 |
|
9 |
10423445 |
30/07/2013 * |
1,000,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE FINANCE BRANCH, 106-109, ANSAL TOWER, 38 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B81734774 |
|
10 |
10424281 |
30/07/2013 * |
3,300,000,000.00 |
IDBI BANK LIMITED |
INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA |
B82297862 |
|
11 |
10424221 |
30/07/2013 * |
4,500,000,000.00 |
IDBI BANK LIMITED |
IRCS BUILDING, 1, RED CROSS ROAD,, NEW DELHI, NEW DELHI, DELHI - 110001, INDIA |
B82461369 |
|
12 |
10424285 |
30/07/2013 * |
6,875,000,000.00 |
IDBI BANK LIMITED |
INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA |
B82421470 |
|
13 |
10468538 |
19/12/2013 * |
950,000,000.00 |
CENTRAL BANK OF INDIA |
5,JEEVAN TARA BUILDING, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B93412906 |
|
14 |
10414320 |
30/07/2013 * |
2,000,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
101-102,NEW DELHI HOUSE, 27,BARAKHAMBHA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B81733834 |
|
15 |
10425215 |
28/03/2013 |
2,000,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH,, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B74968520 |
|
16 |
10439367 |
11/03/2013 |
1,500,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR, 17, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B75017673 |
|
17 |
10420481 |
22/02/2013 |
1,000,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE CENTER, 5, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B71278840 |
|
18 |
10381391 |
06/09/2012 |
500,000,000.00 |
IDBI BANK LIMITED |
RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA |
B60031515 |
|
19 |
10251120 |
22/07/2013 * |
8,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
AXIS HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B84921667 |
|
20 |
10194218 |
12/05/2011 * |
2,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
2ND FLOOR, BOMBAY
DYEING MILLS COMPOUND, PANDURA |
B12381257 |
|
21 |
10167238 |
12/05/2011 * |
800,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
2ND FLOOR, BOMBAY
DYEING MILLS COMPOUND, PANDURA |
B12381802 |
|
22 |
10140577 |
12/05/2011 * |
2,500,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, BOMBAY
DYEING MILLS COMPOUND, PANDURA |
B12382735 |
|
23 |
80012929 |
27/11/2012 * |
2,450,000,000.00 |
INDIAN OVERSEAS BANK |
RAJIV CIRCLE, D28-29, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B64273287 |
|
24 |
80012858 |
24/02/2014 * |
5,715,000,000.00 |
ANDHRA BANK |
M-35, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B97652085 |
|
25 |
80012930 |
27/11/2012 * |
4,615,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE
BRANCH, HINDUSTAN TIMES HOUSE, |
B63828784 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
30.09.2014 (Rs.
In Millions) |
30.06.2013 (Rs.
In Millions) |
|
Letter of credit issued on behalf of company (unexpired) |
210.171 |
126.578 |
|
Bank Guarantees Issued by bank on company’s behalf |
63.614 |
10.677 |
|
Disputed Sales tax/Vat/entry Tax/Excise Duty/Service Tax/ income tax (including interest and penalty) |
120.906 |
842.662 |
|
Corporate guarantee |
7915.185 |
13987.462 |
FINANCIAL
PERFORMANCE
During
the period The revenue of the Company is Rs. 312,59.786 Millions compared to
Rs. 245,39.272 Millions during the previous year. The Profit after tax has
increased to Rs. 4507.211 Millions as compared to the previous year of Rs.
29,15.570 Millions.
The
Company has a strong Reserve & Surplus position of Rs. 475,411.97 Millions.
BUSINESS
OVERVIEW
Amtek Auto
is one of the largest integrated component manufacturers headquartered in India
with truly global manufacturing facilities. The Company has significant
expertise in the automotive components sector with proven capabilities in
forging, grey and ductile iron casting, gravity and high pressure aluminium die
casting and machining and sub-assembly. It has an extensive product portfolio
with a range of highly engineered components. The Company supplies components
for passenger cars, light and heavy commercial vehicles, 2/3 wheelers,
tractors, locomotive components and construction and earth moving vehicles.
In
addition to being one of the leading casting and machining companies in the
automotive sector in India, the Amtek Auto with its subsidiaries has become one
of the world’s largest global forging and integrated machining companies.
Founded in 1987 by Mr. Arvind Dham, Amtek Auto and its subsidiaries now have 60
world class facilities across India, UK, Germany, Brazil, Italy, Mexico, Russia
and US. It is widely recognized as a preferred OEM supplier for passenger cars,
light and heavy commercial vehicles, 2/3 wheelers and diesel engines. Global
blue chip customers include BMW, Caterpillar, CNH America, Cummins, Fiat, Ford,
Halliburton, Honda, JCB, Maruti, Tata JLR, Timken and Volkswagen.
Over the
last decade, Amtek Auto has established several joint ventures and technical
partnerships with leading global firms to offer customers a world class product
range. Collaborating companies include Magna Powertrain in Canada, Sumitomo
Metal in Japan and Aizen in Japan. The joint ventures are progressing in line
with the management expectations. As part of its strategy to leverage its core
skill base and manufacturing platform, Amtek Auto has also developed a product
range for non-automotive customers. These cover end markets such as locomotive
components, earth moving and construction equipment and tractors.
During
the period, Amtek Auto acquired Neumayer Tekfor in Germany and JMT Auto in
India. Amtek Auto sold a 56% equity stake in each of Amtek Ring Gears Ltd and
Amtek Crankshaft India Ltd, unlocking value from relatively lower profit margin
units.
The
acquisition of Neumayer Tekfor was transformational, providing Amtek Auto with
an enhanced product portfolio and geographic market reach from which to supply
its combined global customers. As a leading forging and integrated machining
company, Neumayer Tekfor’s extensive high technology product range includes
high precision camshafts, valve train components, connecting rods and
specialized safety fasteners.
FIXED ASSETS
· Land
· Building
· Plant and Equipment
· Electric Installation
· Furnitures and Fixtures
· Vehicles
·
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,
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.63.46 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.77.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SMT |
|
|
|
|
Report Prepared
by : |
ANU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.