MIRA INFORM REPORT
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Report No. : |
302904 |
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Report Date : |
16.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GRUPO ANTOLIN INDIA PRIVATE LIMITED (w.e.f.13.10.2014) |
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Formerly Known
As : |
GRUPO ANTOLIN PUNE PRIVATE LIMITED (w.e.f. 12.03.2001) AUTO INTERIORS INDIA PRIVATE LIMITED |
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Registered
Office : |
B -25, MIDC, Ranjangaon, Taluka Shirur, Pune – 412210, |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.09.1996 |
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Com. Reg. No.: |
25-015924 |
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Capital
Investment / Paid-up Capital : |
Rs. 890.807 Millions |
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CIN No.: [Company Identification
No.] |
U34300PN1996PTC015924 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEA01777G |
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PAN No.: [Permanent Account No.] |
AAACA6730G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufactures, Exporter and Importer of auto components and
also provides CAD Services |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 2000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The management has failed to file its financial with government
department for the year 2014. As per available financial record of 2013, the rating is constrained
on account of company’s moderate financial risk profile and huge accumulated
losses incurred by the company. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some caution. |
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
NOT AVAILABLE
RBI DEFAULTER’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTER’ 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 PARTED BY
|
Name : |
Mr. Ulhas Nene |
|
Designation : |
Assistant Manager Account |
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Contact No.: |
91-2138-660600 |
|
Date : |
14.01.2015 |
LOCATIONS
|
Registered Office/ Factory 1: |
B -25, MIDC, Ranjangaon, Taluka Shirur, Pune – 412210, |
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Tel. No.: |
91-2138-660600 / 232236/ 560600 |
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Fax No.: |
91-2138-232202 |
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E-Mail : |
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Website : |
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Area : |
4000 sq. ft |
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Location : |
Owned |
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Factory 2: |
Sipcot Industrial Park, G-9 , Irungattukottai,
Chennai-602117, Tamilnadu, India |
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6th Floor, Alpha 2 Building, Giga Space IT Park, Nagar Pune
Road, Opposite Maruti Showroom, Viman Nagar, Pune-411014, Maharashtra, India |
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Tel. No.: |
91-20-66212483 |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Ernesto Antolin Arribas |
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Designation : |
Managing Director |
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Address : |
C/VITORIA 8, 2-C, |
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Date of Birth/Age : |
06.11.1964 |
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Date of Appointment : |
09.12.1996 |
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DIN No.: |
00785463 |
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Other Directorship :
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Name : |
Mr. Pablo Munoz Baroja Pagola |
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Designation : |
Director |
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Address : |
C/ Escritora Karmele Saint Martin,!.
Esc. 4, lOB 20009 Donostia-San Sebastian |
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Date of Birth/Age : |
19.09.1969 |
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Date of Appointment : |
30.09.2011 |
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DIN No.: |
00287745 |
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Other Directorship :
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Name : |
Maitreya Vrajesh Purohit |
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Designation : |
Additional Director |
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Address : |
A – 10, Rane Classics, Sr. 20/2, Someshwarwadi, Pashan, Pune-411008,
Maharashtra, India |
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Date of Birth/Age : |
26.11.1975 |
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Date of Appointment : |
30.09.2011 |
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DIN No.: |
03457981 |
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Other Directorship :
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KEY EXECUTIVES
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Name : |
Ms. Shubhangi Tukaram Bamane |
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Designation : |
Company Secretary |
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Address : |
1186, Sadashiv Peth, Suyog Bhavan, Pune-411030, Maharashtra, India |
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Date of Appointment : |
11.01.2011 |
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PAN No: |
AQNPB1279M |
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Name : |
Mr. Ulhas Nene |
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Designation : |
Assistant Manager Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Grupo Antolin – Irausa S.A., Spain |
|
89080713 |
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Grupo Antolin – Ingenieria, S.A., Spain |
|
1 |
|
Total |
|
89080714 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufactures, Exporter and Importer of auto components and
also provides CAD Services |
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Products : |
Auto Components |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Auto Parts |
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Countries : |
Russia |
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Imports : |
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Products : |
Raw Material Chemicals |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Deloite Haskins and Sells Chartered Accountants |
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Address : |
12, Dr Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra, India |
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PAN.: |
AACFD4815A |
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Related Party : |
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Holding company : |
Grupo Antolin Irausa S.A., Spain |
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Fellow Subsidiary
Company : |
· Grupo Antolin Ingenieria S.A., Spain · Grupo Antolin North America Inc., United States · Grupo Antolin Plasbur, S.A., Spain · Grupo Antolin Vosges S.A.S., Spain · Grupo Antolin-Wayne, LLC., United States · Grupo Antolin San-Petersburg Limited, Russian Federation · Ototrim Panle Sanayi Ve Ticaret S.A., Turkey · Krishna Grupo Antolin Private Limited, India CIN No.: U00000CH2004PTC027418 · Antolin Kasai Tek Chennai Private Limited, India CIN No.: U35990TN2012PTC084617 · Grupo Antolin France S.A.S., France · Grupo Antolin Turnov S.R.O., Czech Republic · Grupo Antolin Autotrim S.A., Spain · Grupo Antolin Silao SA de C.V. · Grupo Antolin Asuari Inverser, Spain · Grupo Antolin Bohemia, A.S., Czech Republic |
CAPITAL STRUCTURE
As on. 31.03.2013
Authorised Capital : Rs. 1800.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.1340.807
Millions
As on. 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs. 10/- each |
Rs.900.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89080714 |
Equity Shares |
Rs. 10/-
each |
Rs.890.807 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
890.807 |
890.807 |
872.950 |
|
(b) Reserves & Surplus |
(155.903) |
(183.758) |
(201.737) |
|
(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 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
734.904 |
707.049 |
671.213 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
17.613 |
27.919 |
35.481 |
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(b) Deferred tax liabilities (Net) |
15.214 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
9.648 |
9.665 |
0.000 |
|
Total Non-current
Liabilities (3) |
42.475 |
37.584 |
35.481 |
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(4)
Current Liabilities |
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|
|
|
(a) Short
term borrowings |
236.441 |
50.801 |
14.828 |
|
(b) Trade
payables |
445.577 |
570.755 |
455.548 |
|
(c) Other
current liabilities |
132.696 |
167.491 |
151.925 |
|
(d) Short-term
provisions |
9.314 |
8.844 |
28.171 |
|
Total Current
Liabilities (4) |
824.028 |
797.891 |
650.472 |
|
|
|
|
|
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TOTAL |
1601.407 |
1542.524 |
1357.166 |
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
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|
|
|
(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
598.495 |
539.766 |
428.356 |
|
(ii)
Intangible Assets |
63.510 |
92.501 |
100.794 |
|
(iii)
Capital work-in-progress |
0.000 |
2.999 |
0.000 |
|
(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 |
31.946 |
29.496 |
31.909 |
|
(e) Other
Non-current assets |
45.727 |
47.845 |
59.394 |
|
Total Non-Current
Assets |
739.678 |
712.607 |
620.453 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
269.546 |
274.898 |
283.564 |
|
(c) Trade
receivables |
466.595 |
446.323 |
339.754 |
|
(d) Cash
and cash equivalents |
1.424 |
2.969 |
23.782 |
|
(e) Short-term
loans and advances |
124.164 |
105.727 |
89.593 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.020 |
|
Total
Current Assets |
861.729 |
829.917 |
736.713 |
|
|
|
|
|
|
TOTAL |
1601.407 |
1542.524 |
1357.166 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2046.106 |
1717.039 |
1264.433 |
|
|
|
Services |
129.780 |
97.103 |
85.261 |
|
|
|
Write-off Excess Provision Of Withholding Tax |
0.000 |
0.000 |
2.083 |
|
|
|
Other Operating Income |
17.102 |
25.154 |
21.291 |
|
|
|
Other Income |
0.372 |
2.651 |
0.439 |
|
|
|
TOTAL |
2193.360 |
1841.947 |
1373.507 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
2036.145 |
1762.538 |
1233.980 |
|
|
|
|
TOTAL |
2036.145 |
1762.538 |
1233.980 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
157.215 |
79.409 |
139.527 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
17.862 |
4.386 |
1.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
139.353 |
75.023 |
138.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
95.499 |
64.186 |
55.688 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
43.854 |
10.837 |
82.832 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.000 |
0.000 |
7.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
28.854 |
10.837 |
75.204 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(183.758) |
(202.737) |
(276.941) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(155.903) |
(183.758) |
(202.737) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Design and Engineering Services |
115.113 |
87.115 |
68.433 |
|
|
TOTAL EARNINGS |
115.113 |
87.115 |
68.433 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.032 |
0.12 |
0.861 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover |
|
|
2572.800 |
Expected Sales ( 2014 - 2015 ) : Rs.3000.000 Millions
The above information has been parted by Mr. Ulhas Nene .
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT / Sales |
(%) |
1.32 |
0.59 |
5.48 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
2.14 |
0.63 |
6.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.74 |
0.70 |
6.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.02 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.35 |
0.11 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.04 |
1.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
872.950 |
890.807 |
890.807 |
|
Reserves & Surplus |
(201.737) |
(183.758) |
(155.903) |
|
Net
worth |
671.213 |
707.049 |
734.904 |
|
|
|
|
|
|
long-term borrowings |
35.481 |
27.919 |
17.613 |
|
Short term borrowings |
14.828 |
50.801 |
236.441 |
|
Total
borrowings |
50.309 |
78.720 |
254.054 |
|
Debt/Equity
ratio |
0.075 |
0.111 |
0.346 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1264.433 |
1717.039 |
2046.106 |
|
|
|
35.795 |
19.165 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1264.433 |
1717.039 |
2046.106 |
|
Profit |
75.204 |
10.837 |
28.854 |
|
|
5.95% |
0.63% |
1.41% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
No |
|
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 |
CORPORATE INFORMATION
Grupo Antolin Pune Private Limited (the company) was established in the year 1996. The company manufactures auto components at its Pune and Chennai plants and also provides CAD services from its Pune facility.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90085709 |
23/03/2001 |
31,143,057.00 |
FORD INDIA LTD. |
S.P. KOLI, CHENGLEPUT, Tamil Nadu - 603001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Factory equipments
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
- Computer software
- Recipes, formulae, models, designs and prototypes
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 records 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.62.15 |
|
|
1 |
Rs.94.24 |
|
Euro |
1 |
Rs.73.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
RBI |
YES/NO |
NO |
|
EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.