MIRA INFORM REPORT
|
Report No. : |
330829 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHARASHTRA SCOOTERS LIMITED |
|
|
|
|
Registered
Office : |
C/o. Bajaj Auto Limited, Mumbai-Pune Road, Akurdi, Pune -
411 035, Maharashtra |
|
Tel. No.: |
91-20-27475811 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
11.06.1975 |
|
|
|
|
Com. Reg. No.: |
11-018376 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.114.286 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L35912MH1975PLC018376 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacture of "Bajaj Super" / "Bajaj
Chetak" models of scooters. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject company was incorporate on 11th June 975, Maharashtra Scooters Limited is a joint sector Public Limited Company, promoted by Western Maharashtra Development Corporation Limited, a wholly-owned Govt. of Maharashtra undertaking and Bajaj Holdings and Investment Limited. (BHIL) (Erstwhile Bajaj Auto Limited). It well established company have good track record. The rating take consideration, on company consistent track record of achieving its sales volume, strong operational efficiencies, healthy financials performance during years. The rating are further strengthen, long established track record of company and rich experience of its promoters backed by established market position into two and three wheeler industry. Trade relation are fair and regular. Business is active. Payment terms are reported regular as per commitment. In view of strong financials and operation base backed by support from Govt. of Maharashtra, the company can be considered good for business dealings as its regular 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE (91-20-27475811-12)
LOCATIONS
|
Registered Office : |
C/o. Bajaj Auto Limited, Mumbai-Pune Road, Akurdi, Pune -
411 035, Maharashtra,
India |
|
Tel. No.: |
91-20-27475811-12-13 |
|
Fax No.: |
91-20-27472764 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Works: |
Plot No. C-1, M.I.D.C. Area Satara-415 004, Maharashtra, India |
|
Tel. No.: |
91- 2162-244668, 246542 |
|
Fax No.: |
91- 2162-244428 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Madhur Bajaj |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. N. K. Poyam |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Naresh Patni |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R. K. Nikharge |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sadashiv S. Survase |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjay S. Degaonkar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjiv Bajaj |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Vrushali Agashe |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Yogesh J. Shah |
|
Designation : |
Director |
KEY EXECUTIVES
|
Audit Committee: |
|
|
|
|
|
Stakeholders’
Relationship Committee: |
|
|
|
|
|
Nomination &
Remuneration Committee: |
|
|
|
|
|
Corporate Social
Responsibility Committee: |
|
|
|
|
|
Name : |
Mr. Rajeev D. Haware |
|
Designation : |
Chief Executive Officer & Manager |
|
|
|
|
Name : |
Mr. R. B. Laddha |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. N. S. Kulkarni |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
5828560 |
51.00 |
|
|
5828560 |
51.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
5828560 |
51.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
394265 |
3.45 |
|
|
3034 |
0.03 |
|
|
352202 |
3.08 |
|
|
651110 |
5.70 |
|
|
1400611 |
12.26 |
|
|
|
|
|
|
874013 |
7.65 |
|
|
|
|
|
|
2270246 |
19.86 |
|
|
1004082 |
8.79 |
|
|
51056 |
0.45 |
|
|
49915 |
0.44 |
|
|
591 |
0.01 |
|
|
550 |
0.00 |
|
|
4199397 |
36.74 |
|
Total Public shareholding (B) |
5600008 |
49.00 |
|
Total (A)+(B) |
11428568 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
11428568 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Sl.No. |
Name of the
Shareholder |
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
30,85,712 |
27.00 |
||
|
2 |
Bajaj Holdings and Investment Limited |
27,42,848 |
24.00 |
|
|
Total |
58,28,560 |
51.00 |
(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
|
|
1 |
CD Equifinance Private Limited |
631452 |
5.53 |
|
|
2 |
PPFAS Long Term Value Fund |
391182 |
3.42 |
|
|
3 |
General Insurance Corporation of India |
352202 |
3.08 |
|
|
4 |
Motilal Gopilal Oswal |
279230 |
2.44 |
|
|
5 |
Morgan Stanley Asia (Singapore) PTE |
179892 |
1.57 |
|
|
6 |
ACACIA Partners LP |
175978 |
1.54 |
|
|
7 |
ACACIA Institutional Partners LP |
166036 |
1.45 |
|
|
|
Total |
2175972 |
19.04 |
|
Shareholding of securities (including shares, warrants,
convertible securities) of persons (together with PAC) belonging to the
category “Public” and holding more than 5% of the total number of shares of the
company
|
Sl. No. |
Name(s) of the shareholder(s)
and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of
Total No. of Shares |
|
|
1 |
CD Equifinance Private Limited |
631452 |
5.53 |
|
|
|
Total |
631452 |
5.53 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacture of "Bajaj Super" / "Bajaj
Chetak" models of scooters. |
|
|
|
|
Products : |
"Bajaj Super" / "Bajaj Chetak" models
of scooters. |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
|
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|
Bankers : |
|
|
Banking
Relations : |
|
|
|
|
|
Statutory Auditors: |
|
|
Name : |
P. C. Parmarand Company |
|
Address: |
Pune, Maharashtra, India |
|
|
|
|
Secretarial Auditor |
|
|
Name : |
Shyamprasad D. Limaye |
|
Address: |
Pune, Maharashtra, India |
|
|
|
|
Internal Auditor |
Jayesh Kulkarni |
|
|
|
|
|
|
|
|
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company,
subsidiaries and fellow subsidiary: |
|
|
|
|
|
Associates, joint
ventures and investing parties: |
|
|
|
|
|
Enterprises over
which anyone in (c) exercises significant influence: |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 115.000 Million |
|
50,000 |
Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs. 5.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 120.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,428,568 |
Equity Shares |
Rs.10/- each |
Rs. 114.286
Million |
|
|
|
|
|
NOTE:
Terms/rights attached
to equity shares
The company has only one class of equity shares having a par value of 10 per share. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors and approved by the shareholders in the Annual General Meeting is paid in Indian rupees. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholders
Details of
shareholders holding more than 5% shares in the company
|
Equity shares of 10
each fully paid |
31 March 2015 |
|
|
|
Nos. |
% Holding |
|
Western Maharashtra Development Corporation Limited |
3085712 |
27.00 |
|
Bajaj Holdings and Investment Limited |
2742848 |
24.00 |
|
CD Equifinance Private Limited |
628141 |
5.50 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
114.286 |
114.286 |
114.286 |
|
(b) Reserves & Surplus |
2408.310 |
2273.387 |
2131.683 |
|
(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) |
2522.596 |
2387.673 |
2245.969 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
166.025 |
204.762 |
245.480 |
|
(d) long-term provisions |
0.972 |
1.188 |
0.792 |
|
Total
Non-current Liabilities (3) |
166.997 |
205.950 |
246.272 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
6.395 |
11.182 |
7.601 |
|
(c) Other current liabilities |
67.818 |
55.713 |
52.542 |
|
(d) Short-term provisions |
419.454 |
342.381 |
273.411 |
|
Total
Current Liabilities (4) |
493.667 |
409.276 |
333.554 |
|
|
|
|
|
|
TOTAL |
3183.260 |
3002.899 |
2825.795 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
43.813 |
73.590 |
73.246 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2346.103 |
2372.889 |
2226.633 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
87.562 |
90.601 |
97.109 |
|
(e) Other Non-current assets |
129.900 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2607.378 |
2537.080 |
2396.988 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
365.297 |
231.315 |
4.678 |
|
(b) Inventories |
12.809 |
4.577 |
5.748 |
|
(c) Trade receivables |
25.974 |
12.969 |
25.261 |
|
(d) Cash and cash equivalents |
124.487 |
145.518 |
316.688 |
|
(e) Short-term loans and
advances |
18.453 |
21.393 |
23.502 |
|
(f) Other current assets |
28.862 |
50.047 |
52.930 |
|
Total
Current Assets |
575.882 |
465.819 |
428.807 |
|
|
|
|
|
|
TOTAL |
3183.260 |
3002.899 |
2825.795 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
69.558 |
41.789 |
66.996 |
|
|
Other Income |
629.061 |
533.523 |
532.236 |
|
|
TOTAL
(A) |
698.619 |
575.312 |
599.232 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of raw material and
components consumed |
42.624 |
17.943 |
30.470 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.740) |
1.154 |
(2.707) |
|
|
Employees benefits expense |
58.526 |
53.725 |
56.081 |
|
|
Other expenses |
26.041 |
17.538 |
17.001 |
|
|
TOTAL
(B) |
119.451 |
90.360 |
100.845 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
579.168 |
484.952 |
498.387 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.012 |
0.005 |
0.001 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
579.156 |
484.947 |
498.386 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
31.578 |
8.971 |
9.973 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
547.578 |
475.976 |
488.413 |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
547.578 |
475.976 |
488.413 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed dividend (inclusive
of dividend distribution tax) |
412.655 |
334.272 |
267.418 |
|
|
Balance
Carried to the B/S |
134.923 |
141.704 |
220.995 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials & Components |
0.287 |
0.000 |
0.000 |
|
|
Capital goods |
0.000 |
8.452 |
9.490 |
|
|
TOTAL
IMPORTS |
0.287 |
8.452 |
9.490 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
47.91 |
41.65 |
42.74 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net Cash generated from operations after working Capital changes |
(89.604) |
(47.617) |
(68.222) |
|
Net Cash from operating activities |
(101.113) |
(56.924) |
(75.466) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
787.23 |
1139.00 |
729.02 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
832.64 |
1160.48 |
743.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
65.41 |
75.55 |
81.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.20 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.14 |
1.29 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.1160/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
114.286 |
114.286 |
114.286 |
|
Reserves & Surplus |
2131.683 |
2273.387 |
2408.310 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2245.969 |
2387.673 |
2522.596 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
66.996 |
41.789 |
69.558 |
|
|
|
(37.625) |
66.451 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
66.996 |
41.789 |
69.558 |
|
Profit |
488.413 |
475.976 |
547.578 |
|
|
729.02% |
1139.00% |
787.23% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
REVIEW OF OPERATIONS:
During the year, the business activities of the company were limited to the manufacture of die casting dies, jigs and fixtures, primarily meant for automobile industry and treasury operations on account of surplus funds invested. There was no significant development during the year affecting the operational/financial performance of the Company. Due to increased work orders and operational efficiency, the sales on account of manufacture of die casting dies, jigs and fixtures increased to Rs.68.783 Million, as compared to Rs.40.974 Million achieved during the previous year. The turnover of the company during the year was Rs.698.619 Million as against Rs.575.312 Million achieved during the previous financial year.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
Industry structure
and developments
Since its inception, Maharashtra Scooters Limited has been operating in the geared scooter segment of the two wheeler industry and consequently over the period it has developed adequate skills in the manufacture of pressure die casting dies, jigs, fixtures etc. for two and three-wheelers. With the market for geared scooters extinguished and the company having discontinued the production of geared scooters since April, 2006, production activity during the year was restricted to manufacture of pressure die casting dies, jigs and fixtures.
Opportunities,
Threats, Outlook, Risks and Concerns
All the big players of the world in the two-wheeler industry having established significant presence in India, the competition has become fierce and stiffer. Added to this, the diminished market for geared scooters led to cessation of geared scooter production since April, 2006, thereby adversely affecting the operational performance of the Company. The Company continues to produce pressure die casting dies, jigs and fixtures for automobiles industry, which is marked by volatility in demand.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90082301 |
09/06/1976 |
2,500,000.00 |
CENTRAL BANK OF INDIA |
CENTRAL BANK BUILDING, LOAN DEPTT.; 1ST FLOOR; M. |
- |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
Claims against the Company not acknowledged as debts |
0.407 |
0.397 |
|
Excise and Customs demand - matters under dispute and Claims for refund of Excise Duty, if any, against Excise Duty Refund received in the earlier year |
2.029 |
2.029 |
|
Sales Tax matters under dispute * |
103.895 |
32.069 |
|
Income-Tax matters under dispute |
|
|
|
i) Appeal by Company * |
0.000 |
0.000 |
|
ii) Appeal by Department |
3.984 |
4.208 |
|
Note: * No provision has been made, since the Company expects favourable decision. |
||
FIXED ASSETS
- Free-Hold Land
- Leasehold Land
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Vehicles
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.63.57 |
|
UK Pound |
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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.