MIRA INFORM REPORT
|
Report No. : |
321245 |
|
Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANDEN VIKAS (INDIA) PRIVATE LIMITED (w.e.f.19.02.2015) |
|
|
|
|
Formerly Known
As : |
SANDEN VIKAS (INDIA) LIMITED (w.e.f. 08.05.2008) SANDEN VIKAS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12-A, Shivaji Marg, |
|
Tel. No.: |
91-11-42070707 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.09.1982 |
|
|
|
|
Com. Reg. No.: |
55-014381 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 146.250 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202DL1982PTC014381 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS00104G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS3174M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of air conditioning compressors and parts thereof
for cars and light commercial vehicles. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 790000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred loss from its operations during 2014. The
company has also taken huge external borrowing, which acts as threatening to
the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON COOPERATIVE (91-11-42070707)
LOCATIONS
|
Registered / Corporate Office : |
12-A, Shivaji Marg, |
|
Tel. No.: |
91-11-42070707 |
|
Fax No.: |
91-11-25451004 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No.65, Sector 27A, |
|
Tel. No.: |
91-129-4196141 / 4196000 |
|
Fax No.: |
91-129-4196196 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. 45-46, Industrial Area, NIT, Faridabad – 121 001, Haryana,
India |
|
Tel No.: |
91-129-4093000/4093100 |
|
Fax No.: |
91-129-4023105 |
|
|
|
|
Factory 3 : |
73/8, Delhi-Mathura Road, Village Mitnol, Aurangabad, Tehsil Hodal,
District Faridabad – 121 105, Haryana, India |
|
Tel No.: |
91-1275-263801/263802 |
|
Email: |
|
|
|
|
|
Regional Office 1 : |
GAT No.1224/1, Sanaswadi, Taluka-Shirur, District Pune-412208,
Maharashtra, India |
|
|
|
|
Regional Office 2 : |
Kamala Arcade, 669, Anna Salai, Chennai – 600 006, |
|
Tel. No.: |
91-44-28297384 |
|
Fax No.: |
91-44-28297273 |
|
E-Mail : |
DIRECTORS
As on 23.09.2014
|
Name : |
Mr. Mr. Kunio Shiina |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 153, Tower B, Park Place, Golf Course Road, DLF Phase – V, Gurgaon – 122009, Haryana, India |
|
Date of Birth/Age : |
18.11.1956 |
|
Date of Appointment : |
28.07.2014 |
|
DIN No.: |
06934663 |
|
Name : |
Mr. Praveen Agarwal |
|
Designation : |
Managing Director |
|
Address : |
89, Sunder Nagar, New Delhi – 110 003, India |
|
Date of Birth/Age : |
03.09.1953 |
|
Date of Appointment : |
23.09.1982 |
|
DIN No.: |
00036445 |
|
PAN No.: |
AAHPA1700A |
|
|
|
|
Name : |
Mr. Naveen Agarwal |
|
Designation : |
Director |
|
Address : |
315, The Aralivas, DLF Golf Links, DLF City, Phase 5, Gurgaon - 122 009, Haryana, India |
|
Date of Birth/Age : |
12.06.1959 |
|
Date of Appointment : |
06.11.1989 |
|
DIN No.: |
00036585 |
|
PAN No.: |
AAHPA1699J |
|
|
|
|
Name : |
Mrs. Puja Agarwal |
|
Designation : |
Director |
|
Address : |
89, Sunder Nagar, New Delhi – 110 003, India |
|
Date of Birth/Age : |
17.02.1957 |
|
Date of Appointment : |
12.06.2002 |
|
DIN No.: |
01147894 |
|
|
|
|
Name : |
Mr. Robert Kheng |
|
Designation : |
Director |
|
Address : |
11, Gilsted Road 03-04, Singapore-309065 |
|
Date of Birth/Age : |
29.12.1954 |
|
Date of Appointment : |
11.12.2009 |
|
DIN No.: |
02764104 |
|
|
|
|
Name : |
Mr. Tetsuo Shimizu |
|
Designation : |
Director |
|
Address : |
347, Higashi Arai, Sakai Isesaki-shi, Gunnma Japan NA |
|
Date of Birth/Age : |
16.04.1957 |
|
Date of Appointment : |
01.02.2013 |
|
DIN No.: |
06492100 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Nandan Jain |
|
Designation : |
Secretary |
|
Address : |
70, F – 26, Sector 7, Rohini, New |
|
Date of Birth/Age : |
03.04.1954 |
|
Date of Appointment : |
26.12.1983 |
|
PAN No.: |
AEFPJ8401B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Praveen Agarwal |
|
4607325 |
|
Dinesh Nandan Jain |
|
45 |
|
Naveen Agarwal |
|
1462500 |
|
Puja Agarwal |
|
36000 |
|
Sumitra Agarwal |
|
99000 |
|
Sumedha Impex Private Limited, India
|
|
486000 |
|
Kenmore Vikas (India) Private Limited, India |
|
621630 |
|
Sanden Corporation, Japan |
|
990000 |
|
Sanden International Singapore Pte Limited, Singapore |
|
6322500 |
|
TOTAL
|
|
14625000 |
Equity Share Break up (Percentage of Total Equity)
As on 23.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
7.57 |
|
Directors or relatives of Directors |
42.43 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20321245%2008-May-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of air conditioning compressors and parts
thereof for cars and light commercial vehicles. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
N. Narasimhan and Company Chartered Accountants |
|
Address : |
211-Hans Bhawan, Bahadur Shah Zafar Marg, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABPN5851B |
|
|
|
|
Memberships : |
-- |
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|
|
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Collaborators : |
-- |
|
|
|
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Joint Venture
Enterprise: |
|
|
|
|
|
Enterprises with significant
influence of Directors: |
|
CAPITAL STRUCTURE
AFTER 23.0.2014
Authorised Capital : Rs.300.000
Million
Issued, Subscribed & Paid-up Capital : Rs. 296.250
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs.10/- each |
Rs.220.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14625000 |
Equity Shares |
Rs.10/- each
|
Rs.146.250
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
146.250 |
146.250 |
146.250 |
|
(b) Reserves & Surplus |
129.830 |
203.108 |
157.861 |
|
(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) |
276.080 |
349.358 |
304.111 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
515.792 |
842.477 |
681.622 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
5.081 |
5.031 |
4.804 |
|
Total
Non-current Liabilities (3) |
520.873 |
847.508 |
686.426 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
728.662 |
461.020 |
660.094 |
|
(b) Trade payables |
1683.241 |
1527.000 |
1414.650 |
|
(c) Other current liabilities |
425.182 |
371.278 |
262.272 |
|
(d) Short-term provisions |
2.531 |
16.673 |
2.559 |
|
Total
Current Liabilities (4) |
2839.616 |
2375.971 |
2339.575 |
|
|
|
|
|
|
TOTAL |
3636.569 |
3572.837 |
3330.112 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1270.249 |
1299.286 |
1101.460 |
|
(ii) Intangible Assets |
122.450 |
121.990 |
117.778 |
|
(iii) Capital work-in-progress |
33.103 |
36.951 |
246.615 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
11.190 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
122.057 |
61.919 |
73.183 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
10.383 |
11.474 |
11.523 |
|
Total
Non-Current Assets |
1558.242 |
1531.620 |
1561.749 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1029.114 |
1126.756 |
902.129 |
|
(c) Trade receivables |
640.094 |
466.129 |
536.148 |
|
(d) Cash and cash equivalents |
8.339 |
37.327 |
5.720 |
|
(e) Short-term loans and
advances |
400.780 |
411.005 |
324.366 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2078.327 |
2041.217 |
1768.363 |
|
|
|
|
|
|
TOTAL |
3636.569 |
3572.837 |
3330.112 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
7 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6437.670 |
6686.571 |
5253.086 |
|
|
Other Income |
16.895 |
29.203 |
21.941 |
|
|
TOTAL
(A) |
6454.565 |
6715.774 |
5275.027 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5311.086 |
5185.552 |
4115.733 |
|
|
Purchases of Stock-in-Trade |
112.269 |
454.478 |
432.456 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
55.292 |
(66.809) |
(48.346) |
|
|
Employees benefits expense |
334.050 |
314.197 |
227.283 |
|
|
Prior period expenses |
0.000 |
0.028 |
0.118 |
|
|
Other expenses |
434.151 |
452.842 |
306.936 |
|
|
TOTAL
(B) |
6246.848 |
6340.288 |
5034.180 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
207.717 |
375.486 |
240.847 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
196.323 |
171.884 |
216.383 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.394 |
203.602 |
24.464 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
144.746 |
132.935 |
94.257 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(133.352) |
70.667 |
(69.793) |
|
|
|
|
|
|
|
Less |
TAX (H) |
(60.074) |
25.421 |
(63.984) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(73.278) |
45.246 |
(5.809) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
461.067 |
196.000 |
35.700 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Materials/Components/Consumables |
2873.820 |
2656.770 |
NA |
|
|
Purchases of Traded Goods |
112.269 |
454.478 |
NA |
|
|
Plant & Machinery
including transit & Other Capital Items |
79.056 |
44.995 |
NA |
|
|
TOTAL
IMPORTS |
3065.145 |
3156.243 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(5.01) |
3.09 |
(0.40) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.14) |
0.68 |
(0.11) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.23 |
5.62 |
4.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.83) |
2.03 |
(2.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.48) |
0.20 |
(0.23) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.51 |
3.73 |
4.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73 |
0.86 |
0.76 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
146.250 |
146.250 |
146.250 |
|
Reserves & Surplus |
157.861 |
203.108 |
129.830 |
|
Net
worth |
304.111 |
349.358 |
276.080 |
|
|
|
|
|
|
long-term borrowings |
681.622 |
842.477 |
515.792 |
|
Short term borrowings |
660.094 |
461.020 |
728.662 |
|
Total
borrowings |
1341.716 |
1303.497 |
1244.454 |
|
Debt/Equity
ratio |
4.412 |
3.731 |
4.508 |
%20PRIVATE%20LIMITED%20-%20321245%2008-May-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5253.086 |
6686.571 |
6437.670 |
|
|
|
27.288 |
(3.722) |
%20PRIVATE%20LIMITED%20-%20321245%2008-May-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5253.086 |
6686.571 |
6437.670 |
|
Profit |
(5.809) |
45.246 |
(73.278) |
|
|
(0.11%) |
0.68% |
(1.14%) |
%20PRIVATE%20LIMITED%20-%20321245%2008-May-2015_files/image019.gif)
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL PERFORMANCE
Foreign investments or collaborations : The Company is a joint venture between Indian shareholders and Sanden Corporation, Japan.
Sanden Corporation together with its Singapore based subsidiary company holds 50% of the Company’s shareholding. The Company has been operating under such foreign collaboration since more than 3 decades. The Company also has various technical collaborations with Sanden Corporation, Japan for technical assistance and upgradation.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term Borrowings |
|
|
|
Term loans from banks |
0.000 |
100.135 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
390.000 |
375.000 |
|
Working capital loans from banks |
5.596 |
16.372 |
|
Total |
395.596 |
491.507 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10562711 |
16/03/2015 |
40,000,000.00 |
MIZUHO BANK LTD. |
DLF- CAPITOL POINT, FIRST FLOOR, BABA KHARAG SINGH MARG, NEW DELHI, DELHI - 110001, INDIA |
C50621192 |
|
2 |
10562861 |
28/02/2015 |
150,000,000.00 |
MIZUHO BANK LTD. |
DLF CAPITAL POINT,
FIRST FLOOR, BABA KHARAG SINGH |
C50623081 |
|
3 |
10562713 |
20/02/2015 |
68,450,000.00 |
MIZUHO BANK LTD. |
DLF - CAPITOL POINT, FIRST FLOOR, BABA KHARAG SINGH MARG, NEW DELHI, DELHI - 110001, INDIA |
C50622000 |
|
4 |
10466955 |
10/11/2014 * |
252,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7TH FLOOR, AMBADEEP
BUILDING,, 14, K. G. MARG, CO |
C35254986 |
|
5 |
10432415 |
30/04/2013 |
125,000,000.00 |
MIZUHO CORPORATE BANK LTD |
4TH FLOOR, EAST TOWER,
SOOD TOWER,, 25, BARAKHAMB |
B77651453 |
|
6 |
10423104 |
25/03/2013 |
300,000,000.00 |
BANK OF TOKYO MITSUBISHI UFJ LTD. |
JEEVAN VIHAR
BUILDING, 3, PARLIAMENT STREET, NEW |
B74190976 |
|
7 |
10284725 |
31/03/2011 |
375,000,000.00 |
MIZUHO CORPORATE BANK LIMITED |
4TH FLOOR, EAST
TOWER, SOOD TOWER, 25, BARAKHAMBA |
B12277885 |
|
8 |
10216564 |
31/03/2010 |
100,000,000.00 |
BANK OF TOKYO MITSUBISHI UFJ LTD. |
JEEVAN VIHAR
BUILDING, 3, PARLIAMENT STREET, NEW |
A83901413 |
|
9 |
10136108 |
08/12/2008 |
100,000,000.00 |
MIZUHO CORPORATE BANK LIMITED |
4TH FLOOR, EAST
TOWER, SOOD TOWER, 25, BARAKHAMBA |
A53855763 |
|
10 |
80040989 |
25/11/2013 * |
135,000,000.00 |
MIZUHO CORPORATE BANK LTD. |
DLF- CAPITOL POINT,
BABA KHARAK SINGH MARG, NEW D |
B90463233 |
* Date of charge modification
CONTINGENT
LIABILITIES NOT PROVIDED FOR : (AS ON 31.03.2014)
a) In respect of bonds executed in favour of Central Excise authorities Rs.0.100 Million
b) Estimated amount of capital contracts remaining to be executed Rs 9.985 Million (Net of advances)
c) As at 31st March 2014, debtors amounting to Rs 168.699 Million have been derecognised in respect of facility availed by the company under Receivable finance through Bills Acceptance scheme. Further in accordance with the Provision of AS 29, on Provisions, Contingent Liabilities and Contingent Assets, the company has considered Rs 168.699 Million as contingent liabilities (which is contractual recourse available to the Bank against the company in the event of default by the debtors)
d) Letter of Credit outstanding in favour of foreign suppliers Rs 52.967 Million
e) The Company has received Income Tax Orders for assessment u/s 147 of the Income Tax Act for Assessment Years 2003-04 and 2004-05, wherein additions of Rs 2.442 Million and Rs 6.931 Million respectively were made on account of disallowance of Technical Know & Royalty expenses treated to be capital in nature. Total demand of Rs 5.368 Million was raised against the said orders. The company has preferred appeal with ITAT and has been legally advised that no liability is expected in this regard.
f) The Company has received Income Tax Orders for assessment u/s 143(3) of the Income Tax Act for Assessment year 2009-10, wherein an addition of Rs 184.826 Million has been made on account of disallowance of R&D expenditure for non submission of approval of the same from DSIR which has been obtained subsequently. The company has preferred appeal with CIT (Appeals) and has been legally advised that no liability is expected in this regard.
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
Intangible assets
- Computer software
- 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.63.88 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
28 |
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.