MIRA INFORM REPORT
|
Report No. : |
330925 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNDRAM FASTENERS LIMITED |
|
|
|
|
Registered
Office : |
98 - A, Dr. Radhakrishnan Salai, 7th Floor, Mylapore, Chennai
– 600004, Tamilnadu |
|
Tel. No.: |
91-44-28478500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
10.12.1962 |
|
|
|
|
Com. Reg. No.: |
18-004943 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.210.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L35999TN1962PLC004943 |
|
|
|
|
IEC No.: |
0488000637 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES00555C / CHES17415G / MRIS01546G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8779D / AAACS8779D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer
of Fasteners,
Cold Extruded and Powder Metal Parts, Radiator Caps and Gear Shifters. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 |
|
Maximum Credit Limit : |
USD 25000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established company having fine track record. The rating reflects Sundram Fastener’s leading market position in the high
– tensile fasteners industry supported by diversified revenue base and above
– average operating efficiencies of the company. Further rating also takes
into consideration company’s healthy financial risk profile and decent
profitability levels of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
Short term Debt A1+ |
|
Rating Explanation |
Very Strong Degree of Safety and Lowest
Credit Risk |
|
Date |
24.09.2014 |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Anand Babu |
|
Designation : |
Account Head |
|
Contact No.: |
91-44-28478500 |
|
Date : |
10.07.2015 |
LOCATIONS
|
Registered Office/ Corporate
Headquarters : |
98-A, Dr. Radhakrishnan Salai, 7th Floor, Mylapore, Chennai
– 600004, Tamilnadu, India |
|
Tel. No.: |
91-44-28478500 / 26257970 |
|
Fax No.: |
91-44-28478510 / 28478508 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory (In |
Radiator Caps Division, Padi, Chennai – 600050, Tamilnadu, India |
|
Tel No.: |
91-44-26258460 |
|
Fad No.: |
91-44-26357052 |
|
E mail: |
|
|
|
|
|
Factory (In |
Krishnapuram, Aviyur-626160, Virudhunagar District, |
|
|
|
|
Factory (In |
Mittamandagapet Village-605106, Villupuram District, Tamilnadu, India |
|
|
|
|
Factory (In |
47/2, Poonnamallee High Road, Velappanchavadi, Chennai - 600077,
Tamilnadu, India |
|
Tel No.: |
91-44-26272231 / 55512231 |
|
Fad No.: |
91-44-26272696 |
|
E mail: |
|
|
|
|
|
Factory (In |
SIPCOT Industrial Complex, Gummidipoondi-601021, |
|
|
|
|
Factory (In |
Auto Ancillary SEZ, |
|
|
|
|
Factories (In |
Tamilnadu: Harita, Hosur-635109, Krioshnagiri District, Tamilnadu, India |
|
Tel No.: |
91-4344-276651 |
|
Fad No.: |
91-4344-276082 |
|
E mail: |
|
|
|
|
|
Factory (In India) 8: |
Pondicherry Korkadu, Nettapakkam Commune, Bahur Taluk, Pondicherry - 605110 |
|
|
|
|
Factory (In |
Andhra Pradesh Bonthapally Village, Medak District, Andhra Pradesh, India |
|
|
|
|
Factory (In |
Uttarakhand Patnagar, Itegrated Industrial Estate, Rudrapur, District Udam Singh
Nagar, Uttarakhand-263153, India |
|
|
|
|
Factory (In |
Tamilnadu: Ambattur, Hosur, |
|
|
|
|
Factories (Outside India- through subsidiaries) 12: |
No.1, Sundram Road, Wuyuan Town, Haiyan County, Jiaxing City, Zhejiang Province, China - 314300 |
|
|
|
|
Factories (Outside India- through subsidiaries) 13: |
Unit 8, Atley Way, North Nelson Industrial Estate, Cramlington, Northumberland NE23 1WA, United Kingdom |
|
|
|
|
Factories (Outside |
Woltorfer Str. 20-24, Postfach 1649, D-31221 Peine, Germany |
|
|
|
|
Factories (Outside |
801, W.Big Beaver Road, Troy, Michigan, United States of America |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Suresh Krishna |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Ms. Arathi Krishna |
|
Designation : |
Joint Managing Director |
|
|
|
|
Name : |
Ms. Arundathi Krishna |
|
Designation : |
Whole time Director |
|
|
|
|
Name : |
Mr. K Ramesh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Venu Srinivasan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V Narayanan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R Srinivasan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R Ramakrishnan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. C V Karthik Narayanan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. M Raghupathy IAS |
|
Designation : |
Director (Retired) |
KEY EXECUTIVES
|
Name : |
Mr. V.G Jaganathan |
|
Designation : |
Chief Financial Officer & Company Secretary |
|
|
|
|
Name : |
Mr. Anand Buby |
|
Designation : |
Assistance Manager Finance |
SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
104085280 |
49.53 |
|
|
104085280 |
49.53 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
104085280 |
49.53 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
27230948 |
12.96 |
|
|
3124864 |
1.49 |
|
|
9524215 |
4.53 |
|
|
6231815 |
2.97 |
|
|
46111842 |
21.94 |
|
|
|
|
|
|
6271549 |
2.98 |
|
|
|
|
|
|
44698508 |
21.27 |
|
|
8544704 |
4.07 |
|
|
416487 |
0.20 |
|
|
228030 |
0.11 |
|
|
4400 |
0.00 |
|
|
24864 |
0.01 |
|
|
159193 |
0.08 |
|
|
59931248 |
28.52 |
|
Total Public shareholding (B) |
106043090 |
50.47 |
|
Total (A)+(B) |
210128370 |
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) |
210128370 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Fasteners,
Cold Extruded and Powder Metal Parts, Radiator Caps and Gear Shifters. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Note:
*Secured by hypothecation of current assets viz., stocks of raw materials, work-in-process
and finished goods. |
|
|
|
|
Auditors : |
|
|
Name : |
Sundaram and Srinivasan Chartered Accountants |
|
Address : |
4, C P Ramaswamy Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Membership : |
Not Divulged |
|
|
|
|
Subsidiaries (As on 31.03.2014) : |
Domestic
Subsidiaries
Foreign
Subsidiaries
|
|
|
|
|
Associates (As on 31.03.2014) : |
|
|
|
|
|
Joint Venture (As on 31.03.2014) : |
·
Windbolt |
|
|
|
|
Enterprise in which Key Management Personnel have significant
influence (As on 31.03.2014) : |
·
Upasana Finance Limited, Chennai |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Divulged
Issued, Subscribed & Paid-up Capital : Rs.210.100
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.1/- each |
Rs. 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210128370 |
Equity Shares |
Rs.1/- each |
Rs. 210.128 Million |
|
|
|
|
|
Reconciliation of
number of Equity Shares:
|
Particulars |
31.03.2014 |
|
|
|
No. of shares |
Rs. in Million |
|
Balance at the beginning of the year |
210128370 |
210.128 |
|
Add: Shares issued during the year |
- |
- |
|
Bonus Shares issued during the year |
- |
- |
|
Balance at the end of the year |
210128370 |
210.128 |
Terms / rights
attached to shares:
The Company has only one class of equity shares having a par value of Re 1 per share. Each holder of equity share is entitled to one vote per share. The Company declares and pays dividends 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 amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of shares
held by shareholders holding more than 5% of the aggregate shares in the
Company
|
Name of Share
holder |
31.03.2014 |
|
|
|
No. of shares |
Shares as % of
Total number of shares |
|
T V Sundram Iyengar and Sons Limited |
53312000 |
25.37 |
|
Southern Roadways Limited |
50773280 |
24.16 |
|
Sub Total |
104085280 |
49.53 |
|
Total No. of Shares of the Company |
210128370 |
100.00 |
Bonus Shares / Buy Back
/ Shares for consideration other than cash issued during the period of five
years immediately preceding the financial year ended 31st March 2014:
- Aggregate number of equity shares allotted as fully paid up pursuant to contracts without payment being received in cash: Nil
- Aggregate number of equity shares allotted as fully paid up by way of Bonus Shares: Nil.
- Aggregate number of equity shares bought back: Nil
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 |
210.100 |
210.128 |
210.128 |
|
(b) Reserves & Surplus |
8379.500 |
7546.300 |
6732.752 |
|
(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) |
8589.600 |
7756.428 |
6942.880 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1337.500 |
2289.651 |
2881.506 |
|
(b) Deferred tax liabilities (Net) |
858.700 |
910.088 |
903.431 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
33.800 |
28.300 |
28.686 |
|
Total Non-current
Liabilities (3) |
2230.000 |
3228.039 |
3813.623 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5093.300 |
3690.217 |
4210.529 |
|
(b) Trade
payables |
2256.400 |
2157.637 |
1725.661 |
|
(c) Other
current liabilities |
1843.600 |
1283.285 |
1453.794 |
|
(d) Short-term
provisions |
369.000 |
375.740 |
306.529 |
|
Total Current
Liabilities (4) |
9562.300 |
7506.879 |
7696.513 |
|
|
|
|
|
|
TOTAL |
20381.900 |
18491.346 |
18453.016 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8098.000 |
7824.660 |
7071.042 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
5.252 |
|
(iii) Capital
work-in-progress |
0.000 |
205.297 |
214.059 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1139.300 |
1231.642 |
1320.202 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1631.500 |
347.424 |
384.063 |
|
(e) Other
Non-current assets |
3.400 |
3.357 |
4.673 |
|
Total Non-Current
Assets |
10872.200 |
9612.380 |
8999.291 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
30.200 |
0.000 |
0.000 |
|
(b)
Inventories |
3708.900 |
2901.816 |
3211.822 |
|
(c) Trade
receivables |
4031.300 |
4057.656 |
4329.213 |
|
(d) Cash
and cash equivalents |
78.700 |
92.055 |
105.881 |
|
(e)
Short-term loans and advances |
1606.800 |
1782.677 |
1786.964 |
|
(f) Other
current assets |
53.800 |
44.762 |
19.845 |
|
Total
Current Assets |
9509.700 |
8878.966 |
9453.725 |
|
|
|
|
|
|
TOTAL |
20381.900 |
18491.346 |
18453.016 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
23863.900 |
20222.762 |
20694.167 |
|
|
|
|
Other Income |
233.600 |
487.194 |
263.012 |
|
|
|
|
TOTAL (A) |
24097.500 |
20709.956 |
20957.179 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
10571.300 |
8945.507 |
9666.922 |
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(617.800) |
66.279 |
31.818 |
|
|
|
|
Employees benefits expense |
2448.500 |
2182.308 |
2019.110 |
|
|
|
|
Other expenses |
2717.400 |
6467.509 |
6402.996 |
|
|
|
|
Stores and Tools consumed |
5410.200 |
0.000 |
0.000 |
|
|
|
|
Exceptional Items |
100.000 |
100.000 |
(12.780) |
|
|
|
|
TOTAL (B) |
20629.600 |
17761.603 |
18108.066 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3467.900 |
2948.353 |
2849.113 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
813.900 |
585.750 |
813.529 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2654.000 |
2362.603 |
2035.584 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
883.200 |
763.673 |
716.154 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
1770.800 |
1598.930 |
1319.430 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
417.600 |
390.007 |
368.805 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1353.200 |
1208.923 |
950.625 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
795.804 |
735.256 |
626.974 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Interim Dividend Paid |
|
357.218 |
294.180 |
|
|
|
|
Tax on Interim Dividend |
|
41.157 |
48.463 |
|
|
|
|
Transfer to General Reserve |
|
750.000 |
500.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
795.804 |
735.256 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
FOB Value of Exports |
|
7607.530 |
6,782.524 |
|
|
|
|
Claims Received |
|
99.288 |
21.031 |
|
|
|
|
Other |
|
60.810 |
26.920 |
|
|
|
TOTAL EARNINGS |
NA |
7767.628 |
6,830.475 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
|
1815.053 |
2,451.957 |
|
|
|
|
Components & Spares Parts |
|
152.582 |
183.899 |
|
|
|
|
Capital Goods |
|
689.049 |
307.694 |
|
|
|
|
Tools Steel, Tools, Gauges etc. |
|
132.992 |
214.136 |
|
|
|
|
Others |
|
1.296 |
5.050 |
|
|
|
TOTAL IMPORTS |
NA |
2790.972 |
3,162.736 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
6.44 |
5.75 |
4.52 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
530.898 |
858.488 |
|
Cash generated from operations |
NA |
4244.363 |
2532.689 |
|
Net cash from operating activities |
NA |
3858.049 |
2186.733 |
QUARTERLY
RESULTS
|
Particulars |
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
31.03.2015 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net sales |
5786.100 |
6187.600 |
5886.200 |
6004.000 |
|
Total Expenditure |
4940.600 |
5343.800 |
5305.800 |
5539.600 |
|
PBIDT (Excluding Other Income) |
845.500 |
843.800 |
580.400 |
464.400 |
|
Other income |
11.100 |
31.000 |
51.800 |
139.700 |
|
Operating Profit |
856.600 |
874.800 |
632.200 |
604.100 |
|
Interest |
55.400 |
54.300 |
54.700 |
49.400 |
|
Exceptional Items |
NA |
NA |
NA |
(100.000) |
|
PBDT |
801.200 |
820.500 |
577.500 |
454.700 |
|
Depreciation |
275.000 |
151.900 |
217.600 |
238.700 |
|
Profit Before Tax |
526.200 |
668.600 |
359.900 |
216.000 |
|
Tax |
145.000 |
157.700 |
58.600 |
56.300 |
|
Provisions and contingencies |
NA |
NA |
NA |
NA |
|
Profit after tax |
381.200 |
510.900 |
301.300 |
159.700 |
|
Extraordinary Items |
NA |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
NA |
|
Net Profit |
381.200 |
510.900 |
301.300 |
159.700 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
5.67 |
5.98 |
4.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.53 |
14.58 |
13.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
9.20 |
9.38 |
7.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.21 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75 |
0.84 |
1.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.18 |
1.23 |
STOCK
PRICES
|
Face Value |
Rs.1.00/- |
|
Market Value |
Rs.155.85/- |
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 |
210.128 |
210.128 |
210.100 |
|
Reserves & Surplus |
6732.752 |
7546.300 |
8379.500 |
|
Net
worth |
6942.880 |
7756.428 |
8589.600 |
|
|
|
|
|
|
long-term borrowings |
2881.506 |
2289.651 |
1337.500 |
|
Short term borrowings |
4210.529 |
3690.217 |
5093.300 |
|
Total
borrowings |
7092.035 |
5979.868 |
6430.800 |
|
Debt/Equity
ratio |
1.021 |
0.771 |
0.749 |
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 |
20694.167 |
20222.762 |
23863.900 |
|
|
|
(2.278) |
18.005 |
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
|
20694.167 |
20222.762 |
23863.900 |
|
Profit |
950.625 |
1208.923 |
1353.200 |
|
|
4.59% |
5.98% |
5.67% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2015 Rs.
In Million |
31.03.2014 Rs.
In Million |
|
Long Term
Borrowings |
|
|
|
Term Loans |
|
200.000 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Working Capital Loans |
|
2719.013 |
|
|
|
|
|
Total |
NA |
2919.013 |
CONTINGENT LIABLILITIES:
|
Particulars |
|
31.03.2014 Rs.
In Million |
|
On Latters of Guarantee |
|
94.665 |
|
On Letters of Credit |
|
6.584 |
|
On Guarantee Issued to Housing Development Finance Corporation on Behalf Of Employees |
|
- |
|
On Partly Paid Shares of The Adyar Property Holding Company Limited |
|
0.01 |
|
The company has given Guarantees to full various obligations of Cramlington Precision Forge limited, UK and Sundram fasteners (Zhejiang) limited, china wholly owned subsidiaries of the company, the subsidiaries which is not ascertainable. |
|
|
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10388522 |
15/10/2012 |
831,486,250.00 |
HSBC BANK (MAURITIUS) LIMITED |
6TH FLOOR HSBC CENTRE, 18 CYBERCITY, EBENE MAURITIUS, - 0, MAURITIUS |
B62793690 |
|
2 |
10244553 |
18/10/2010 |
500,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
NAGABRAHMA TOWERS, 76, CATHEDRAL ROAD, CHENNAI, TAMILNADU - 600086, INDIA |
A96714936 |
|
3 |
10246332 |
29/09/2010 |
898,800,000.00 |
DBS BANK LIMITED |
806 ANNA SALAI, CHENNAI, CHENNAI, TAMILNADU - 60 0002, INDIA |
A96210927 |
|
4 |
90296636 |
31/03/2005 |
27,978,000.00 |
GOVERNMENT OF TAMILNADU |
GOVERNMENT OF TAMILNADU, CHENNAI, TAMILNADU - 600 006, INDIA |
- |
|
5 |
90296600 |
08/01/2005 * |
40,000,000.00 |
ICICI BANK LIMITED |
LAND MARK, RACE COURSE CIRCLE, VADODARA, GOA - 39 0007, INDIA |
- |
|
6 |
90296552 |
14/12/2007 * |
510,000,000.00 |
HDFC BANK LIMITED |
ANNA SALAI, CHENNAI, TAMIL\NADU - 600002, INDIA |
A32404501 |
|
7 |
80056860 |
23/11/2000 |
370,000,000.00 |
CANARA BANK |
OVERSEAS BRNCH, 770 A ANNA SALAI, CHENNAI, TAMILNADU - 600002, INDIA |
- |
|
8 |
90296505 |
14/07/2000 |
550,000.00 |
FORD INDIA LIMITED |
CORPORATE OFFICE AND PLANT, SP KOIL, CHENGLEPUR, TAMILNADU - 603204, INDIA |
- |
|
9 |
90296492 |
08/02/2000 |
3,475,000.00 |
FORD INDIA LIMITED |
CORPORATE OFFICE AND PLANT, S. P. KOIL, CHENGLEPUT, TAMILNADU - 603204, INDIA |
- |
|
10 |
90296282 |
10/02/1995 |
11,000,000.00 |
ANZ GRINDLAYS BANK |
19; RAJAJI SALAI, MADRAS, TAMILNADU - 600001, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Aircraft
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture, Fixtures and Office Equipments
·
Vehicles
·
Technical Know-how
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.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
64 |
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.