MIRA
INFORM REPORT
|
Report No. : |
334672 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRECISION WIRES INDIA LIMITED |
|
|
|
|
Registered
Office : |
Saiman House, J.A. Raul Street, 2nd
Floor, 1st Khed Galli,
Off Sayani Road, Prabhadevi,
Mumbai – 400 025, Maharashtra |
|
Tel. No.: |
91-22-24360089 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
23.11.1989 |
|
|
|
|
Com. Reg. No.: |
11-054356 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.115.644 million |
|
|
|
|
CIN No.: [Company
Identification No.] |
L31300MH1989PLC054356 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP15082E/ MUMP06148C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACP7555L |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of Copper Winding Wires, Continuously
Transposed Conductors (CTC) and Paper Insulated Copper Conductors (PICC),
which are used in manufacturing of rotating as well as static electrical
equipment. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5339000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be usually correct and as per commitment. The company can be considered for normal business dealing on a usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CARE |
|
Rating |
Long-Term Bank Facilities: A |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk. |
|
Date |
16.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short-Term Bank Facilities: A1 |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
16.04.2015 |
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.
LOCATIONS
|
Registered Office : |
Saiman House, J.A. Raul Street, 2nd
Floor, 1st Khed Galli,
Off Sayani Road, Prabhadevi,
Mumbai – 400 025, Maharashtra, India |
|
Tel. No.: |
91-22-24360089, 24376281 (EPABX) |
|
Fax No.: |
91-22-24362593, 24370687 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Unit I and II :
Atlas Wires Plot Survey No.125/2, Amli Hanuman (66KVA)
Road, Silvassa – 396 230, Union Territory of Dadra and Nagar Haveli, India |
|
|
|
|
Factory 2 : |
Palej Unit : Atlas Wires Plot No.3, GIDC, N.H. No.8, Palej – 392 220,
Bharuch, Gujarat, India |
|
|
|
|
Factory 3 : |
Palghar Unit : Plot No.44, Phase I, Genesis Industrial Complex, Kolgaon, Palghar,
District Thane – 401 404, Maharashtra, India
|
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Mahendra R. Mehta |
|
Designation : |
Chairman and Managing Director and Chief Executive Officer |
|
Date of Birth & Age : |
84 Years |
|
Experience : |
61 Years |
|
Date of Commencement of Employment : |
June, 1975 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Vice Chairman and Managing Director |
|
Date of Birth & Age : |
50 Years |
|
Qualifications : |
B.S. (E.E.) |
|
Experience : |
28 Years |
|
Date of Commencement of Employment : |
April, 1996 |
|
|
|
|
Name : |
Mr. Deepak M. Mehta |
|
Designation : |
Whole Time Director |
|
Date of Birth & Age : |
56 Years |
|
Qualifications : |
B.Com |
|
Experience : |
33 Years |
|
Date of Commencement of Employment : |
January, 1989 |
|
|
|
|
Name : |
Mr. P.N. Vencatesan |
|
Designation : |
Independent and Non-Executive Director |
|
Date of Birth & Age : |
18.08.1926 |
|
Qualifications : |
Chartered Accountant |
|
Expertise in specific function : |
Renowned Management Consultant |
|
|
|
|
Name : |
Mr. Vijay M. Crishna |
|
Designation : |
Independent and Non-Executive Director |
|
Date of Birth & Age : |
08.03.1945 |
|
Qualifications : |
B.A.(Economics) |
|
Experience : |
Expertise in Engineering and I.T. Industry and extensive managerial
experience |
|
|
|
|
Name : |
Mr. Ashwin P. Kothari |
|
Designation : |
Independent and Non-Executive Director |
|
Date of Birth & Age : |
14.09.1942 |
|
Qualifications : |
S.B.(MIT) |
|
Experience : |
Expertise in Ferrous and Non Ferrous Metal and Chemical Industries. |
|
|
|
|
Name : |
Mr. Pratap R. Merchant |
|
Designation : |
Independent and Non-Executive Director |
|
Date of Birth & Age : |
02.03.1935 |
|
Qualifications : |
B.Com., CAIIB- I |
|
Expertise in specific function : |
Ex-Banker and has rich experience in Banking and Finance Sectors |
|
|
|
|
Name : |
Mr. Pradip Roy |
|
Designation : |
Additional Independent and Non-Executive Director |
|
|
|
|
Name : |
Ms. Swati Gokul Maheshwari |
|
Designation : |
Additional Director |
KEY EXECUTIVES
|
Name : |
Mrs. Nishthi Haresh
Dharmani |
|
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 |
|
|
|
|
|
|
|
|
5165115 |
44.67 |
|
|
1734668 |
15.00 |
|
|
6899783 |
59.67 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
6899783 |
59.67 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
1100 |
0.01 |
|
|
1100 |
0.01 |
|
|
|
|
|
|
506654 |
4.38 |
|
|
|
|
|
|
2448590 |
21.17 |
|
|
1433295 |
12.39 |
|
|
274201 |
2.37 |
|
|
203575 |
1.76 |
|
|
1000 |
0.01 |
|
|
69626 |
0.60 |
|
|
4662740 |
40.32 |
|
Total
Public shareholding (B) |
4663840 |
40.33 |
|
Total
(A)+(B) |
11563623 |
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) |
11563623 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 million 
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Copper Winding Wires,
Continuously Transposed Conductors (CTC) and Paper Insulated Copper
Conductors (PICC), which are used in manufacturing of rotating as well as
static electrical equipment. |
|
|
|
|
Products : |
·
Copper Winding Wires ·
Continuously Transposed Conductors (CTC) ·
Paper Insulated Copper Conductors (PICC) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Divatia and Company Chartered Accountants |
|
Address : |
219-221, Avon Arcade, D.J. Road, Near Railway Station, Vile Parle (West), Mumbai – 400 056, Maharashtra, India |
|
Tel. No.: |
91-22-26160791/ 26631927 |
|
Fax No.: |
91-22-26104926 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Paid-up Capital : Rs.115.644 million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 million |
|
3000000 |
Unclassified Shares |
Rs.10/- each |
Rs.30.000 million |
|
|
Total
|
|
Rs.150.000
million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11565223 |
Equity Shares |
Rs.10/- each |
Rs.115.652
million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11563623 |
Equity Shares |
Rs.10/- each |
Rs.115.636
million |
|
|
Add: Forfeiture of 1600 Equity Shares (Amount originally paid up) |
|
Rs.0.008
million |
|
|
Total |
|
Rs.115.644 million |
|
|
|
|
|
The details of
Shareholders holding more than 5% shares:
|
Name of the
Shareholder |
No. of Shares held |
% held |
|
Galvawire Agencies Private Limited |
1734668 |
15.00% |
|
Mahendra R. Meh |
1549034 |
13.00% |
|
Sharda M. Mehta |
812453 |
7.00% |
|
Milan M. Mehta (including as Karta of HUF) |
787948 |
7.00% |
The reconciliation of
the number of shares outstanding is set out below:
|
Particulars |
No. of Shares held |
|
Equity Shares at the beginning of the year |
11563623 |
|
Equity Shares at the end of the year |
11563623 |
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 |
115.644 |
115.644 |
115.644 |
|
(b) Reserves &
Surplus |
1752.849 |
1915.431 |
1906.343 |
|
(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) |
1868.493 |
2031.075 |
2021.987 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
30.505 |
79.148 |
|
(b) Deferred tax
liabilities (Net) |
56.137 |
179.591 |
169.183 |
|
(c) Other long term
liabilities |
0.100 |
0.200 |
0.175 |
|
(d) Long-term provisions |
13.725 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
69.962 |
210.296 |
248.506 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
346.252 |
462.360 |
821.678 |
|
(b) Trade payables |
1075.577 |
1416.609 |
1773.212 |
|
(c) Other current
liabilities |
172.453 |
182.141 |
405.629 |
|
(d) Short-term provisions |
43.203 |
51.644 |
35.069 |
|
Total Current Liabilities
(4) |
1637.485 |
2112.754 |
3035.588 |
|
|
|
|
|
|
TOTAL |
3575.940 |
4354.125 |
5306.081 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
|
|
|
|
|
(i)
Tangible assets |
896.163 |
1265.806 |
1332.381 |
|
(ii) Intangible Assets |
|
2.821 |
7.653 |
|
(iii) Capital
work-in-progress |
|
26.685 |
29.408 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.014 |
0.013 |
5.014 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.340 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
6.037 |
7.498 |
|
Total Non-Current Assets |
902.517 |
1301.362 |
1381.954 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
192.000 |
|
(b) Inventories |
952.649 |
754.225 |
981.343 |
|
(c) Trade receivables |
1375.010 |
1859.989 |
1926.005 |
|
(d) Cash and cash
equivalents |
181.981 |
266.007 |
397.421 |
|
(e) Short-term loans and
advances |
113.863 |
143.154 |
367.556 |
|
(f) Other current assets |
49.920 |
29.388 |
59.802 |
|
Total Current Assets |
2673.423 |
3052.763 |
3924.127 |
|
|
|
|
|
|
TOTAL |
3575.940 |
4354.125 |
5306.081 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
8807.745 |
9816.885 |
9758.287 |
|
|
|
Other Income |
32.467 |
28.599 |
12.629 |
|
|
|
TOTAL (A) |
8840.212 |
9845.484 |
9770.916 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
7586.727 |
8556.838 |
8746.083 |
|
|
|
Purchases of Stock-in-Trade |
0.914 |
49.812 |
0.445 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(20.530) |
97.599 |
(101.686) |
|
|
|
Employees benefits expense |
155.152 |
144.561 |
135.614 |
|
|
|
Other expenses |
612.050 |
619.269 |
575.247 |
|
|
|
TOTAL (B) |
8334.313 |
9468.079 |
9355.703 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
505.899 |
377.405 |
415.213 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
142.189 |
28.678 |
50.685 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
363.710 |
348.727 |
364.528 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
195.903 |
118.101 |
125.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
167.807 |
230.626 |
238.787 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
66.768 |
86.207 |
79.241 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
101.039 |
144.419 |
159.546 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
21.638 |
27.008 |
36.353 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
14.500 |
115.000 |
|
|
|
Proposed Total Dividend |
NA |
115.636 |
46.254 |
|
|
|
Corporate Tax on Dividend |
NA |
19.653 |
7.637 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
21.638 |
27.008 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
NA |
1308.895 |
1080.016 |
|
|
|
Freight Insurance |
NA |
14.270 |
25.996 |
|
|
TOTAL EARNINGS |
NA |
1323.165 |
1106.012 |
|
|
|
|
|
|
|
|
|
|
IMPORTS (Including
material in Transit) |
|
|
|
|
|
|
|
Raw Materials |
NA |
2689.277 |
1754.256 |
|
|
|
Consumable Stores & Spares, Packing Material &
Repairs to Plant |
NA |
7.208 |
8.437 |
|
|
|
Capital Goods |
NA |
11.511 |
4.932 |
|
|
TOTAL IMPORTS |
NA |
2707.996 |
1767.625 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
8.74 |
12.49 |
13.80 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current maturities of long-term debt |
NA |
40.673 |
55.908 |
|
Cash generated
from operations |
NA |
125.795 |
354.942 |
|
Net cash from operating activities |
NA |
59.853 |
273.054 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.15 |
1.47 |
1.63 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.74 |
3.84 |
4.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.69 |
5.33 |
4.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.11 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.19 |
0.24 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63 |
1.44 |
1.29 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.138.10/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
115.644 |
115.644 |
115.644 |
|
Reserves & Surplus |
1906.343 |
1915.431 |
1752.849 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2021.987 |
2031.075 |
1868.493 |
|
|
|
|
|
|
Long-term borrowings |
79.148 |
30.505 |
0.000 |
|
Short term borrowings |
821.678 |
462.360 |
346.252 |
|
Total borrowings |
900.826 |
492.865 |
346.252 |
|
Debt/Equity ratio |
0.446 |
0.243 |
0.185 |
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) |
|
Revenue from Operations (Net) |
9758.287 |
9816.885 |
8807.745 |
|
|
|
0.600 |
(10.280) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from Operations (Net) |
9758.287 |
9816.885 |
8807.745 |
|
Profit |
159.546 |
144.419 |
101.039 |
|
|
1.63% |
1.47% |
1.15% |
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 |
No |
|
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) |
|
SHORT TERM
BORROWINGS |
|
|
|
Foreign currency loans – buyers credit |
NA |
56.634 |
|
Total |
NA |
56.634 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90237746 |
24/04/2012 * |
2,727,300,000.00 |
BANK OF BARODA |
PALEJ BRANCH, 4/374, DHANJISHAJIN,
PALEJ, PALEJ, GUJARAT - 392220, INDIA |
B38350328 |
|
2 |
90237508 |
18/04/2012 * |
2,727,300,000.00 |
BANK OF BARODA |
PALEJ BRANCH, 4/374
DHANJISHAJIN, PALEJ, PALEJ, GUJARAT - 392220, INDIA |
B38347381 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2015 (Rs. In Million) |
31.03.2014 (Rs. In Million) |
|
a. Guarantees given by Bank to third parties |
NA |
114.094 |
|
b. Disputed Wealth Tax Demand (not acknowledged) against which Company
has preferred an appeal |
NA |
0.340 |
|
c. Disputed demands of Central Excise against erstwhile Atlas Wires
Limited Pending in Appeal |
NA |
0.455 |
|
d. Disputed demands of Central Excise pending in Appeal |
NA |
0.500 |
FIXED ASSETS:
Tangible Assets:
·
Land - Free Hold
·
Buildings
·
Plant and Machinery
·
Vehicles
·
Office Equipments
·
Furniture and Fixtures
Intangible Assets:
·
Technology Transfer Cost
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 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.63.89 |
|
UK Pound |
1 |
Rs.99.71 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.