MIRA INFORM REPORT

Report No. :	304475
Report Date :	21.01.2015

IDENTIFICATION DETAILS

Name :	STUMPP SCHUELE AND SOMAPPA SPRINGS PRIVATE LIMITED (w.e.f 06.12.2007)
Formerly Known As :	ALLEVARD SPRINGS (INDIA) PRIVATE LIMITED
Registered Office :	139/2, Hosur Road, Koramangala, Bangalore – 560095, Karnataka
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	12.08.1996
Com. Reg. No.:	08-038742
Capital Investment / Paid-up Capital :	Rs.30.100 Millions
CIN No.: [Company Identification No.]	U29299KA1996PTC038742
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRS28339D
PAN No.: [Permanent Account No.]	AALCS7347E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and supply of Stabilizer bars and all varieties of Springs, all type of automobile components, spare parts and accessories etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (33)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 11700000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “Stumpp Schuele and Somappa Private limited”. It is an established company having a moderate track record. Management has reported a consecutive dip in its profitability, constrained by low profit margin during FY 2014. However, trade relations are reported as fair. Business is active. Payment terms are reported as slow but correct. The company can be considered for business dealings 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
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BB+ (Suspended)
Rating Explanation	Moderate risk of default regarding timely servicing of financial obligations
Date	17.09.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A4+ (Suspended)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	17.09.2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

LOCATIONS

Registered Office :	139/2, Hosur Road, Koramangala, Bangalore – 560 095, Karnataka, India
Tel. No.:	91 80 25532335 (8 lines) / 40707400 / 25532858
Fax No.:	91 80 25530622 / 25532379
E-Mail :	mahesh@legalcliff.in csbmshenoy@rediffmail.com bmaheshshenoy@gmail.com mrramesh@sss-india.com ravi@ssssprings.com (International Sales – Ravi Machani) amarbabu@ssssprings.com (Domestic Sales – Amar Babu)
Website :	http://www.sss-india.com http://www.ssssprings.com
Sales Office :	PO Box 275, New Hudson, MI 48165-0275, USA
Tel. No.:	+1 (248) 4123367
Fax No.:	+1 (248) 2645000
E-Mail :	Derek@ssssprings.com
Regional Offices :	Located at : Delhi / Gurgaon : Plot No.131, Roz-Ka-Meo Industrial Area, District Mewat Sohna, Haryana, India · Tel. No. : 91 124 2210821/820 Gurgaon – 122103, India Pune : 91-20-5898956 / 656 Chennai : 91-4426810028 / 0727 Kolkata : 91-33-4222265

DIRECTORS

As on 29.09.2014

Name :

Mr. Satish Ramesh Machani

Designation :

Managing Director

Address :

No.456, Kothanur Cross, Arekere Village, I I M Post Bangalore- 560076, Karnataka, India

Date of Birth/Age :

01.10.1971

Date of Appointment :

04.06.2009

PAN No.:

AEOPS9018L

DIN No.:

00320532

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U28991AP1973PTC001666	MG METALLIC SPRINGS PRIVATE LIMITED	Managing director	24/03/2011	20/10/1998	-	Active	NO
2	U31901KA1960PTC001378	STUMPP SCHUELE & SOMAPPA PRIVATE LIMITED	Managing director	06/04/2009	27/09/1999	-	Active	NO
3	U74899DL1983PTC014947	PAWAR TEXTILES PRIVATE LIMITED	Director	15/09/2001	15/09/2001	29/02/2008	Active	NO
4	U72900KA1995PTC020932	INDIVILLAGE TECH SOLUTIONS PRIVATE LIMITED	Director	23/09/2004	23/09/2004	23/12/2013	Active	NO
5	U51431KA1982PTC004953	MERKEL SEALS INDIA PRIVATE LIMITED	Director	22/04/2005	22/04/2005	-	Strike off	NO
6	U64202KA2004PTC033986	SYSFORE TECHNOLOGIES PRIVATE LIMITED	Director	27/06/2005	27/06/2005	25/06/2007	Active	NO
7	U02919KA2005PTC037505	KERN-LIEBERS SPRINGS & STAMPINGS PRIVATE LIMITED	Managing director	20/10/2005	20/10/2005	15/12/2007	Active	NO
8	U27109KA2008PTC073110	M. G. M SPRINGS PRIVATE LIMITED	Director	22/08/2008	22/08/2008	-	Active	NO
9	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Managing director	04/06/2009	04/06/2009	-	Active	NO
10	U29253KA2010PTC052534	OSRAM Automotive Lamps Private Limited	Director	15/02/2010	15/02/2010	20/01/2011	Amalgamated	NO
11	U01403KA2011PTC056991	CSS Grower Systems Private Limited	Director	09/02/2011	09/02/2011	-	Active	NO
12	U29120KA2011PTC057120	NIPPON ELECTRONICS (NEL) PRIVATE LIMITED	Director	15/02/2011	15/02/2011	-	Active	NO
13	U70102KA2010PTC055397	MACHANI INFRA DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	28/09/2011	16/05/2011	-	Active	NO
14	U18201KA2010PTC054116	YASHRAM LIFESTYLE BRANDS PRIVATE LIMITED	Director	27/09/2012	07/03/2012	-	Active	NO
15	U35911KA2014PTC072972	STUMPP SCHUELE & SOMAPPA AUTO SUSPENSION SYSTEMS PRIVATE LIMITED	Managing director	11/09/2014	03/02/2014	-	Active	NO
16	U31103TN2014PTC095072	MSM Spring India Private Limited	Nominee director	05/04/2014	05/04/2014	-	Active	NO

Name :

Mr. Ramanna Gangadhar Machani

Designation :

Director

Address :

M. G. Brothers Automobiles Private Limited, Dargamitta, Nellore, Bangalore- 524003, Karnataka , India

Date of Birth/Age :

18.09.1958

Date of Appointment :

04.06.2009

DIN No.:

00267779

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U28991AP1973PTC001666	MG METALLIC SPRINGS PRIVATE LIMITED	Director	28/09/1987	28/09/1987	-	Active	NO
2	U15140AP1981PTC003335	M G BROTHERS OIL MILLS PRIVATE LIMITED	Director	30/06/1994	30/06/1994	-	Active	NO
3	U34102AP1994PTC017819	M.G.BROTHERS AUTOMOBILES PRIVATE LIMITED	Managing director	30/06/1994	30/06/1994	-	Active	NO
4	U72900KA1995PTC020932	INDIVILLAGE TECH SOLUTIONS PRIVATE LIMITED	Director	15/08/1996	15/08/1996	23/12/2013	Active	NO
5	U31901KA1960PTC001378	STUMPP SCHUELE & SOMAPPA PRIVATE LIMITED	Director	27/09/1999	27/09/1999	-	Active	NO
6	U05005AP2000PTC034868	M.G.BROTHERS INDUSTRIES PRIVATE LIMITED	Director	06/07/2000	06/07/2000	-	Active	NO
7	U63011AP2003PTC040269	Ragova Developers & Auto Services Private Limited	Director	10/01/2003	10/01/2003	-	Active	NO
8	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Director	04/06/2009	04/06/2009	-	Active	NO
9	U27109KA2008PTC073110	M. G. M SPRINGS PRIVATE LIMITED	Director	27/09/2011	01/04/2011	-	Active	NO
10	U34103AP2011PTC074781	M.G.BROTHERS AUTOMOTIVES PRIVATE LIMITED	Director	01/06/2011	01/06/2011	-	Active	NO
11	U70102AP2011PTC074786	M.G.BROTHERS REAL ESTATES PRIVATE LIMITED	Director	02/06/2011	02/06/2011	-	Active	NO

Name :

Mr. Ramesh Ramanna Machani

Designation :

Whole-time Director

Address :

No.456, Kothanur Cross, Arekere Village, I I M Post Bangalore- 560076, India

Date of Birth/Age :

15.03.1946

Date of Appointment :

12.08.1996

PAN No.:

AAXPR8906K

DIN No.:

00319941

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31901KA1960PTC001378	STUMPP SCHUELE & SOMAPPA PRIVATE LIMITED	Whole-time director	06/04/2009	17/01/1976	-	Active	NO
2	U51431KA1982PTC004953	MERKEL SEALS INDIA PRIVATE LIMITED	Director	14/09/1982	14/09/1982	-	Strike off	NO
3	U34102AP1994PTC017819	M.G.BROTHERS AUTOMOBILES PRIVATE LIMITED	Director	30/06/1994	30/06/1994	-	Active	NO
4	U28991AP1973PTC001666	MG METALLIC SPRINGS PRIVATE LIMITED	Director	24/03/2011	29/09/1995	-	Active	NO
5	U72900KA1995PTC020932	INDIVILLAGE TECH SOLUTIONS PRIVATE LIMITED	Director	05/08/1996	05/08/1996	-	Active	NO
6	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Whole-time director	04/06/2009	12/08/1996	-	Active	NO
7	U29199KA1996PTC021251	KERNXX-LIEBERS (INDIA) PRIVATE LIMITED	Additional director	02/11/1996	02/11/1996	01/07/2007	Amalgamated	NO
8	U15140AP1981PTC003335	M G BROTHERS OIL MILLS PRIVATE LIMITED	Director	11/11/1996	11/11/1996	03/07/2014	Active	NO
9	U05005AP2000PTC034868	M.G.BROTHERS INDUSTRIES PRIVATE LIMITED	Director	06/07/2000	06/07/2000	-	Active	NO
10	U74899DL1983PTC014947	PAWAR TEXTILES PRIVATE LIMITED	Director	15/09/2001	15/09/2001	29/02/2008	Active	NO
11	U29199KA2007PTC043306	Stumpp Schuele & Somappa Suspension Systems Private Limited	Managing director	29/06/2007	29/06/2007	-	Strike off	NO
12	U35900TN2007PTC064288	DAEWON INDIA AUTO PARTS PRIVATE LIMITED	Director	20/07/2007	20/07/2007	14/05/2011	Active	NO
13	U27109KA2008PTC073110	M. G. M SPRINGS PRIVATE LIMITED	Director	22/08/2008	22/08/2008	-	Active	NO
14	U29253KA2010PTC052534	OSRAM Automotive Lamps Private Limited	Additional director	07/04/2010	07/04/2010	20/01/2011	Amalgamated	NO
15	U18201KA2010PTC054116	YASHRAM LIFESTYLE BRANDS PRIVATE LIMITED	Director	07/03/2012	18/06/2010	-	Active	NO
16	U70102KA2010PTC055397	MACHANI INFRA DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	05/10/2010	05/10/2010	-	Active	NO
17	U29120KA2011PTC057120	NIPPON ELECTRONICS (NEL) PRIVATE LIMITED	Director	13/08/2012	17/02/2011	-	Active	NO
18	U35911KA2014PTC072972	STUMPP SCHUELE & SOMAPPA AUTO SUSPENSION SYSTEMS PRIVATE LIMITED	Director	09/01/2014	09/01/2014	-	Active	NO
19	U55101KA2014PTC073532	MACHANI HOSPITALITIES PRIVATE LIMITED	Director	10/02/2014	10/02/2014	-	Active	NO

Name :

Mr. Ravi Ramesh Machani

Designation :

Whole-time Director

Address :

No.456, Kothanur Cross, Arekere Village, I I M Post Bangalore- 560076, Karnataka, India

Date of Birth/Age :

08.08.1973

Date of Appointment :

04.06.2009

PAN No.:

ABEPR3804I

DIN No.:

00320603

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U72900KA1995PTC020932	INDIVILLAGE TECH SOLUTIONS PRIVATE LIMITED	Managing director	07/03/2012	05/08/1996	-	Active	NO
2	U31901KA1960PTC001378	STUMPP SCHUELE & SOMAPPA PRIVATE LIMITED	Whole-time director	06/04/2009	12/07/2004	-	Active	NO
3	U28991AP1973PTC001666	MG METALLIC SPRINGS PRIVATE LIMITED	Director	14/07/2004	14/07/2004	-	Active	NO
4	U51431KA1982PTC004953	MERKEL SEALS INDIA PRIVATE LIMITED	Director	22/04/2005	22/04/2005	-	Strike off	NO
5	U64202KA2004PTC033986	SYSFORE TECHNOLOGIES PRIVATE LIMITED	Director	27/06/2005	27/06/2005	-	Active	NO
6	U34300KA2006PTC039007	LANDP Somappa Comfort Systems (india) Private LImited	Director	17/04/2006	17/04/2006	-	Active	NO
7	U27109KA2008PTC073110	M. G. M SPRINGS PRIVATE LIMITED	Director	22/08/2008	22/08/2008	-	Active	NO
8	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Whole-time director	04/06/2009	04/06/2009	-	Active	NO
9	U29253KA2010PTC052534	OSRAM Automotive Lamps Private Limited	Director	15/02/2010	15/02/2010	20/01/2011	Amalgamated	NO
10	U99999DL1959PLC176013	AUTOMOTIVE COMPONENT MANUFACTURERS ASSOCIATION OF INDIA	Director	27/08/2010	27/08/2010	05/09/2013	Active	NO
11	U70102KA2010PTC055397	MACHANI INFRA DEVELOPMENT CORPORATION PRIVATE LIMITED	Managing director	16/05/2011	05/10/2010	-	Active	NO
12	U29120KA2011PTC057120	NIPPON ELECTRONICS (NEL) PRIVATE LIMITED	Director	15/02/2011	15/02/2011	-	Active	NO
13	U18201KA2010PTC054116	YASHRAM LIFESTYLE BRANDS PRIVATE LIMITED	Director	27/09/2012	07/03/2012	-	Active	NO
14	U55101KA2014PTC073532	MACHANI HOSPITALITIES PRIVATE LIMITED	Director	10/02/2014	10/02/2014	-	Active	NO

Name :

Mr. Narsimhan Chakravarthi Srinivasan

Designation :

Director

Address :

7C, Sukhi Apartments, 17 Rhenius Street, Richmond Town, Bangalore – 560025, Karnataka, India

Date of Birth/Age :

28.05.1945

Date of Appointment :

12.08.1996

PAN No.:

AJXPS7902B

DIN No.:

00471801

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Director	12/08/1996	12/08/1996	-	Active	NO
2	U35204KA1996PTC020766	ADITYA AUTO PRODUCTS AND ENGINEERING (INDIA) PRIVATE LIMITED	Director	30/09/2003	30/09/2003	-	Active	NO
3	U02919KA2005PTC037505	KERN-LIEBERS SPRINGS & STAMPINGS PRIVATE LIMITED	Alternate director	01/07/2007	20/10/2005	31/08/2010	Active	NO
4	U74140KA2006PTC040518	MTI SOURCING PRIVATE LIMITED	Director	15/09/2006	15/09/2006	-	Active	NO
5	U34300KA2006PTC040523	MULTITECH INDUSTRIES INDIA PRIVATE LIMITED	Managing director	15/09/2006	15/09/2006	-	Active	NO
6	U29199KA2007PTC043306	Stumpp Schuele & Somappa Suspension Systems Private Limited	Managing director	29/06/2007	29/06/2007	-	Strike off	NO
7	U35900TN2007PTC064288	DAEWON INDIA AUTO PARTS PRIVATE LIMITED	Director	20/07/2007	20/07/2007	14/05/2011	Active	NO
8	U29253KA2010PTC052534	OSRAM Automotive Lamps Private Limited	Director	15/02/2010	15/02/2010	20/01/2011	Amalgamated	NO
9	U72900KA2013PTC072116	NONPLUS ULTRA HOME AUTOMATION PRIVATE LIMITED	Director	26/11/2013	26/11/2013	-	Active	NO
10	U35911KA2014PTC072972	STUMPP SCHUELE & SOMAPPA AUTO SUSPENSION SYSTEMS PRIVATE LIMITED	Director	09/01/2014	09/01/2014	-	Active	NO

Name :

Mr. Machani Ramanna Ganganna

Designation :

Director

Address :

1/1400, HSB Colony, Yemmiganur, 518360, Andhra Pradesh, India

Date of Birth/Age :

03.02.1944

Date of Appointment :

04.06.2009

DIN :

02063513

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15140AP1981PTC003335	M G BROTHERS OIL MILLS PRIVATE LIMITED	Managing director	21/12/1981	21/12/1981	-	Active	NO
2	U28991AP1973PTC001666	MG METALLIC SPRINGS PRIVATE LIMITED	Director	23/09/1988	23/09/1988	-	Active	NO
3	U34102AP1994PTC017819	M.G.BROTHERS AUTOMOBILES PRIVATE LIMITED	Director	30/06/1994	30/06/1994	-	Active	NO
4	U72900KA1995PTC020932	INDIVILLAGE TECH SOLUTIONS PRIVATE LIMITED	Director	05/08/1996	05/08/1996	23/12/2013	Active	NO
5	U31901KA1960PTC001378	STUMPP SCHUELE & SOMAPPA PRIVATE LIMITED	Director	27/09/1999	27/09/1999	-	Active	NO
6	U05005AP2000PTC034868	M.G.BROTHERS INDUSTRIES PRIVATE LIMITED	Director	06/07/2000	06/07/2000	-	Active	NO
7	U27109KA2008PTC073110	M. G. M SPRINGS PRIVATE LIMITED	Director	22/08/2008	22/08/2008	-	Active	NO
8	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Director	04/06/2009	04/06/2009	-	Active	NO

Name :

Mr. Sudhakar Machani

Designation :

Additional Director

Address :

No 404, 5th Cross, RBI Layout, 7th Phase, J P Nagar, Bangalore - 560078, Karnataka, India

Date of Birth/Age :

05.08.1956

Date of Appointment :

05.12.2012

DIN :

02534695

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U28991AP1973PTC001666	MG METALLIC SPRINGS PRIVATE LIMITED	Managing director	04/07/2004	04/07/2004	24/03/2011	Active	NO
2	U27109KA2008PTC073110	M. G. M SPRINGS PRIVATE LIMITED	Managing director	01/04/2011	01/04/2011	-	Active	NO
3	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Director	30/09/2013	05/12/2012	-	Active	NO

Name :

Mrs. Deepa Anil Kumar

Designation :

Director

Address :

No.456, Kothanur Cross, Arekere Village, I I M Post Bangalore- 560076, Karnataka, India

Date of Birth/Age :

03.03.1976

Date of Appointment :

06.09.2010

PAN No.:

ABGPS2479R

DIN :

02741980

Other Directorship:

S. No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U31901KA1960PTC001378	STUMPP SCHUELE & SOMAPPA PRIVATE LIMITED	Whole-time director	25/05/2007	25/05/2007	-	Active	NO
2	U18201KA2010PTC054116	YASHRAM LIFESTYLE BRANDS PRIVATE LIMITED	Managing director	07/03/2012	18/06/2010	-	Active	NO
3	U29299KA1996PTC038742	STUMPP SCHUELE & SOMAPPA SPRINGS PRIVATE LIMITED	Director	06/09/2010	06/09/2010	-	Active	NO
4	U28991AP1973PTC001666	MG METALLIC SPRINGS PRIVATE LIMITED	Director	28/09/2013	24/03/2011	-	Active	NO
5	U72900KA1995PTC020932	INDIVILLAGE TECH SOLUTIONS PRIVATE LIMITED	Director	28/09/2011	28/03/2011	23/12/2013	Active	NO
6	U27109KA2008PTC073110	M. G. M SPRINGS PRIVATE LIMITED	Director	27/09/2011	01/04/2011	-	Active	NO
7	U70102KA2010PTC055397	MACHANI INFRA DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	28/09/2011	16/05/2011	-	Active	NO

MAJOR SHAREHOLDERS

As on 29.09.2014

Names of Shareholders	No. of Shares
Stumpp Schuele and Somappa Springs Private Limited, India	3009990
M R Ramesh	10
Total	3010000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2014

Category	Percentage
Bodies corporate	99.90
Directors or relatives of Directors	0.10
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers and supply of Stabilizer bars and all varieties of Springs, all type of automobile components, spare parts and accessories etc.

Products :

Product Description	Item Code No. (ITC Code)
Leaf Spring for Motor Vehicles	73209090

Brand Names :

--

Agencies Held :

--

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Not Available

Customers :

Not Available

No. of Employees :

Not Available

Bankers :

• State Bank of Travancore, Residency Road Branch, Aishwarya Castle, #10, Castle Street, Near Brigade Towers, Ashok Nagar, Bangalore – 560025, Karnataka, India
• State Bank of Hyderabad, Industrial Finance Branch, Sheriff House, Industrial Finance Branch, Sheriff House, Bangalore - 560025, Karnataka, India
• State Bank of India, Industrial Finance Branch, Residency Plaza, Residency Road, Bangalore – 560025, Karnataka, India
• Indusind Bank Limited, Du Parc Trinity, West Wing, I Floor, No.17, M G Road, Bangalore – 560001, Karnataka, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Rupee term loans from banks	103.789	157.789
Loans taken for fixed assets	5.577	7.874
SHORT TERM BORROWINGS
Working capital loans from banks	487.632	604.045
Other loans and advances, others	40.990	64.362
Total	637.988	834.070

Auditors :
Name :	Brahmayya and Company Chartered Accountants
Address :	Khivraj Mansion, 10/2, Kasturba Road, Bangalore – 560001, Karnataka, India
Tel No.:	91-80-22274551 / 22274552
Fax No.:	91-80-22212437
Email ID :	srinivas@brahmayya.com admin@brahmayyablr.com
PAN No.:	AAASB9147R
Memberships :	--
Collaborators :	--
Holding Company :	· Stumpp Schuele and Somappa Private Limited CIN No.: U31901KA1960PTC001378
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	MG Metallic Springs Private Limited CIN No.: U28991AP1973PTC001666 Machani Infra Development Corporation Private Limited CIN No.: U70102KA2010PTC055397 Nippon Electronics (NEL) Private Limited CIN No.: U29120KA2011PTC057120 Indivillage Tech Solutions Private Limited CIN No.: U72900KA1995PTC020932 MGM Springs Private Limited Merkel Seals (India)Private Limited SSS Springs and Wire SSS Reality

CAPITAL STRUCTURE

As on 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7500000	Equity Shares	Rs.10/- each	Rs.75.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3010000	Equity Shares	Rs.10/- each	Rs.30.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	30.100	30.100	30.100
(b) Reserves & Surplus	380.374	362.777	345.492
(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)	410.474	392.877	375.592
(3) Non-Current Liabilities
(a) long-term borrowings	109.366	165.663	135.741
(b) Deferred tax liabilities (Net)	0.000	7.658	9.297
(c) Other long term liabilities	112.204	6.680	2.124
(d) long-term provisions	36.789	31.742	25.039
Total Non-current Liabilities (3)	258.359	211.743	172.201
(4) Current Liabilities
(a) Short term borrowings	528.622	668.407	866.611
(b) Trade payables	455.546	471.575	481.999
(c) Other current liabilities	95.402	149.261	178.195
(d) Short-term provisions	10.495	8.036	7.332
Total Current Liabilities (4)	1,090.065	1,297.279	1,534.137
TOTAL	1,758.898	1,901.899	2,081.930
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	504.719	595.540	585.378
(ii) Intangible Assets	1.538	1.631	1.112
(iii) Capital work-in-progress	5.273	29.918	30.593
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	34.620	0.100	0.000
(c) Deferred tax assets (net)	5.693	0.000	0.000
(d) Long-term Loan and Advances	130.578	144.429	290.063
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	682.421	771.618	907.146
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	346.548	427.127	460.955
(c) Trade receivables	624.917	601.909	588.444
(d) Cash and cash equivalents	62.712	56.025	66.300
(e) Short-term loans and advances	42.300	45.220	59.085
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1,076.477	1,130.281	1,174.784
TOTAL	1,758.898	1,901.899	2,081.930

PROFIT & LOSS ACCOUNT

PARTICULARS			31.03.2014	31.03.2013	31.03.2012
SALES
	Income		2,835.560	2,843.844	2,779.796
	Other Income		10.564	15.626	8.983
	TOTAL (A)		2,846.124	2,859.470	2,788.779
EXPENSES
	Cost of Materials Consumed		1,590.638	1,685.057	1,602.970
	Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(4.047)	(3.015)	(30.684)
	Employee Benefits Expenses		392.490	371.022	356.786
	Other Expenses		635.480	543.275	552.372
	TOTAL (B)		2,614.561	2,596.339	2,481.444
PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			231.563	263.131	307.335
FINANCIAL EXPENSES (D)			114.152	136.476	150.050
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			117.411	126.655	157.285
DEPRECIATION/ AMORTISATION (F)			101.429	108.367	128.550
PROFIT/(LOSS) BEFORE TAX (E-F) (G)			15.980	18.288	28.735
TAX (H)			(4.258)	(1.638)	(11.666)
PROFIT/(LOSS) AFTER TAX (G-H) (I)			20.238	19.926	40.401
EARNINGS IN FOREIGN CURRENCY
		Export Earnings	100.273	48.077	38.002
TOTAL EARNINGS			100.273	48.077	38.002
Earnings / (Loss) Per Share (Rs.)			6.72	6.62	13.42

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	0.71	0.70	1.45
Operating Profit Margin (PBDIT/Sales)	(%)	8.17	9.25	11.06
Return on Total Assets (PBT/Total Assets}	(%)	0.93	0.98	1.40
Return on Investment (ROI) (PBT/Networth)		0.04	0.05	0.08
Debt Equity Ratio (Total Debt /Networth)		1.55	2.12	2.67
Current Ratio (Current Asset/Current Liability)		0.99	0.87	0.77

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	30.100	30.100	30.100
Reserves & Surplus	345.492	362.777	380.374
Share Application money pending allotment	0.000	0.000	0.000
Net worth	375.592	392.877	410.474
Long Term borrowings	135.741	165.663	109.366
Short Term borrowings	866.611	668.407	528.622
Total borrowings	1002.352	834.070	637.988
Debt/Equity ratio	2.669	2.123	1.554

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	2,779.796	2,843.844	2,835.560
		2.304	(0.291)

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	2,779.796	2,843.844	2,835.560
Profit	40.401	19.926	20.238
	1.45%	0.70%	0.71%

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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

COMPANY OVERVIEW

Subject is originally incorporated on 12-08-1996 as Allevard Springs (India) Private Limited to carry on the business of manufacturers and supply of Stabilizer bars and all varieties of springs, all type of automobile components, spare parts and accessories etc.

During the Financial Year 2009-10 the Company entered into a Business Transfer Agreement with Stumpp, Schuele & Somappa Private Limited, the parent company, to purchase its Springs Division with effect from 1st Aug 2009.

The Company has commenced the generation of windmill energy, 600 KW on 22nd September 2010and 1.2 MW on 30th September, 2011. The objective of this project is to generate the power for captive consumption

PERFORMANCE DURING THE YEAR:

During the year under review the company recorded a turnover of Rs.2846.124 Millions as against Rs.2859.470 Millions in 2012-2013. Profit for the year is Rs.15.980 Millions.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10523183	15/09/2014	75,000,000.00	Tata Capital Financial Services Limited	One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, Maharashtra - 400001, India	C24613077
2	10523180	18/07/2014	75,000,000.00	Tata Capital Financial Services Limited	One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai, Maharashtra - 400001, India	C24609794
3	10314219	31/12/2010	200,000,000.00	State Bank Of Travancore	Residency Road Branch, Aishwarya Castle, # 10,, Castle Street, Near Brigade Towers, Ashok Nagar, Bangalore, Karnataka - 560025, India	B14239719
4	10246298	24/03/2011 *	340,000,000.00	State Bank Of Hyderabad	Industrial Finance Branch, "Sheriff House", 1st Floor, 85, Richmond Road, Bangalore, Karnataka - 560025, India	B11880358
5	10233602	20/06/2011 *	875,000,000.00	State Bank Of India	Industrial Finance Branch, Residency Plaza, Resid  Ency Road, Bangalore, Karnataka - 560025, India	B17256165
6	10208143	26/02/2010	190,000,000.00	Indusind Bank Limited	Du Parc Trinity, West Wing, I Floor, No. 17, M G Road, Bangalore, Karnataka - 560001, India	A81584559

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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.61.70
UK Pound	1	Rs.93.41
Euro	1	Rs.71.33

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--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	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		33

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

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.