MIRA INFORM REPORT

 

Report No. :

340017.2

Report Date :

09.09.2015

 

IDENTIFICATION DETAILS

 

Name :

PONDY DIE CASTING PRIVATE LIMITED

 

 

Registered Office :

A-1 and A-2, PIPDIC Industrial Estate, Sedarapet, Pondicherry – 605 111, Pondicherry

Tel. No.:

91-413-2678187/ 2677606

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.03.1988

 

 

Com. Reg. No.:

59-000522

 

 

Capital Investment / Paid-up Capital :

Rs.4.000 million

 

 

CIN No.:

[Company Identification No.]

U27320PY1988PTC000522

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of aluminium die castings parts, die casting tools, fixtures, jigs.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 10700 

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is established company having moderate track record.

 

The rating on company take into accounts, moderate financial risk profile, its accumulated losses resulting in the deterioration of the capital structure and huge external borrowing leverage’s the balance sheet profile of the company.

 

This rating weakness is partially offset by the moderate scale of operation and sound profit from its operations during FY-14.

 

However, trade relations are fair. Business is active. Payments terms are reported to be slow but correct.

 

In view of long established track record, the company can be considered for business dealings with some cautions.

 

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

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 PARTED BY

 

Name :

Mr. Prabhakar Rao Anantharama Rao

Designation :

Managing Director

Contact No.:

91-9944960192

Date :

07.09.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

A-1 and A-2, PIPDIC Industrial Estate, Sedarapet, Pondicherry – 605 111, Pondicherry, India

Tel. No.:

91-413-2678187/ 2677606

Mobile No.:

91-9944960192 (Mr. Prabhakar Rao)

Fax No.:

91-91-413-2678187/ 2251724

E-Mail :

pondcast@md4.vsnl.net.in

Website :

www.pdcpl.com

Location :

Owned

Locality :

Industrial

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Prabhakar Rao Anantharama Rao

Designation :

Managing Director

Address :

1, 4th Cross, Krishna Nagar, Pondicherry – 605 008, Pondicherry, India

Date of Birth/Age :

15.06.1943

Date of Appointment :

11.03.1988

DIN No.:

00446112

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27320PY1985PTC000354

UNITED DIE CASTINGS PRIVATE LIMITED

Director

17/09/1985

17/09/1985

-

Active

NO

2

U27320PY1988PTC000522

PONDY DIE CASTING PRIVATE LIMITED

Managing director

11/03/1988

11/03/1988

-

Active

NO

3

U27100PY2013PTC002826

PRARAM INDUSTRIES PRIVATE LIMITED

Director

20/09/2013

20/09/2013

-

Active

NO

 

 

Name :

Mr. P. Prasad

Designation :

Director

Address :

1, 4th Cross, Krishna Nagar, Pondicherry – 605 008, Pondicherry, India

Date of Birth/Age :

01.08.1977

Date of Appointment :

07.02.2001

DIN No.:

00446001

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27320PY1988PTC000522

PONDY DIE CASTING PRIVATE LIMITED

Director

07/02/2001

07/02/2001

-

Active

NO

2

U27320PY1985PTC000354

UNITED DIE CASTINGS PRIVATE LIMITED

Director

03/09/2003

03/09/2003

-

Active

NO

3

U27100PY2013PTC002826

PRARAM INDUSTRIES PRIVATE LIMITED

Director

20/09/2013

20/09/2013

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

 

No. of Shares

P.A. Prabhakara Rao

 

13500

P. Prasad

 

5200

V.N. Sedhu

 

500

M. Rajarathinam

 

500

M.N. Venkatesan

 

50

T.S. Setharama Bhatt

 

500

Narasimha Rao

 

500

P.A. Seshagiri Rao

 

150

P. Jayaraman

 

100

Vani Prabhakara Rao

 

18350

Padmaja S. Bhat

 

500

K. Vedhavysa Rao

 

150

Total

 

40000

 

AS ON 30.09.2014

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

92.63

Other top fifty shareholders

 

7.37

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of aluminium die castings parts, die casting tools, fixtures, jigs.

 

 

Products :

Aluminium Die Castings Parts, Die Casting Tools, Fixtures, Jigs

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit (30/ 60/ 90 days)

 

 

Purchasing :

Cash and Credit (30/ 60/ 90 days) 

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour

Market Goodwill

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

Customers :

End Users and OEM’s

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality

Delivery Behaviour

Overall

Not Divulged

Not Divulged

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Banker Name

Indian Bank

Branch Address

288, Mahatma Gandhi Road, II Floor, Amudhasurabi Building, Pondicherry – 605 001, Pondicherry, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit: Rs.18.000 million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loans

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Term loans

 

 

From Banks

 

 

i) Term Loan

2.917

4.496

ii) Term Loan

0.731

0.000

From other parties

 

 

i) Siemens Finance-ACE loan

2.246

0.000

ii) Siemens Finance-Doosan loan

6.657

0.000

iii) Volkswagen Finance

0.353

0.000

SHORT-TERM BORROWINGS

12.904

4.496

Loans repayable on demand

 

 

From banks

 

 

i) Indian Bank OCC A/c

15.078

16.329

From other parties

 

 

i) NSIC-Loan

3.983

3.966

Total

44.869

29.287

 

Notes:

 

LONG-TERM BORROWINGS

 

(i) Details of security for the secured long-term borrowings:

 

INDIAN BANK- TERM LOAN:

 

1. Nature of Security: secured by hypothecation of stock for OCC limit and second charge on machineries.

 

(a) Extension of EM over Industrial Sheds at No.A1 and A2 Industrial Estate, Sedarapet, Pondicherry.

(b) Hypothecation of Machinery.

(c) Hypothecation of Goods, produce, Merchandise, Stock.

(d) Extension of EM of lease hold land and shed of United Die Castings Private Limited

 

2. Repayment of term loan: 54 monthly installment of Rs.0.136 million each along with interest charged after a holiday period of 6 months. Installment repayment starts from July 2012.

 

3. Prepayment charges will be levied @ 2.25% on the outstanding balance or on the applicable drawing limit (DL) whichever is higher, for any pre-closure of the Term Loan Account.

 

4. Rate of Interest 16%.

 

5. No. of Instalment pending: 42 Installments are Pending as on the Balance Sheet date payable upto December 2016.

 

6. United Die Castings Private Limited in which the directors are interested has extended corporate guarantee to the credit facilities amounting to Rs.21.976 million extended by Indian Bank to the company.

 

INDIAN BANK- TERM LOAN(NEW):

 

1. Nature of Security: secured by hypothecation of stock and Book debt for OCC limit.

 

(a)Hypothecation of Fixed Assets Rs.7.606 million WDV as on 31.03.2012 (Audited)

(b) Hypothecation of Vertical Machining Centre purchased at Rs.2.637 million

 

2. Repayment of term loan: 36 monthly installment of Rs.0.055 million. Installment repayment period May 2013 to April 2016.

 

3. Rate of Interest 15.45%.

 

4. Prepayment charges will be levied @ 2.25% on the outstanding balance or on the applicable drawing limit (DL)

 

SIEMENS FINANCE SERVICE PVT.LTD-ACE LOAN:

 

1. Nature of Security: secured by Machinery (new purchase)

2. Repayment of term loan: 48 monthly installment of Rs.0.083 million. Installment repayment period January 2013

4. Rate of Interest 15.00%

 

SIEMENS FINANCE SERVICE PVT.LTD-DOOSAN LOAN:

 

1. Nature of Security: secured by Machinery (new purchase)

2. Repayment of term loan: 48 monthly installment of Rs.0.289 million. Installment repayment period July 2013 to June 2017.

4. Rate of Interest 14.00%

 

CAR LOAN:

 

1. Nature of Security: secured by lien over car registered with RTO.

2. Repayment of term loan: 36 monthly installment of Rs.0.020 million. Installment repayment period November 2013 to October 2016.

3. Rate of Interest 11.66%

 

SHORT-TERM BORROWINGS

 

(i) Details of security for the secured short-term borrowings:

 

INDIAN BANK- OCC A/C :

 

1. Nature of Security: secured by hypothecation of stock and second charge on machineries

2. The OCC A/c limit revised to Rs.18.000 million

3. The bank will be at liberty to charge penal interest if overdraft exceed the DL is 2%

4. Rate of Interest 16%

 

NSIC LOAN :

 

1. Bank Guarantee has been given for NSIC Loan

 

Financial Institution :

Siemens Financial Services Private Limited, 130, Pandurang Budhkar Marg, Worli, Mumbai – 400 018, Maharashtra, India

 

 

Auditors :

 

Name :

Ganesan and Company

Chartered Accountants

Address :

23, Jawaharlal Nehru Street, Pondicherry – 605 001, Pondicherry, India

Tel. No.:

91-413-2336884/ 2332015/ 2338975

E-Mail :

support@gandco-ca.com

gcomca@gandco-ca.com

Income-tax PAN of auditor or auditor's firm :

AAAFG4385N

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises over which KMP are able to exercise significant influence :

·         United Die Casting (A Company in which the KMPs are Director's)

·         Suryaa Enterprises (A Proprietrix concern owned by Mrs. Vani P. Rao, wife of Mr. P.A. Prabhakara Rao)

·         Suryaa Enterprises Toolroom Division (A Proprietrix concern owned by Ms. Pradeepa, daughter of Mr. P.A. Prabhakara Rao)

·         Praram Industries Private Limited (A Company in which the one of the Director's is KMP)

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

40000

Equity Shares

Rs.100/- each

Rs.4.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

40000

Equity Shares

Rs.100/- each

Rs.4.000 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

4.000

3.500

2.000

(b) Reserves & Surplus

(0.252)

(1.457)

(2.908)

(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)

3.748

2.043

(0.908)

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

12.997

4.824

1.987

(b) Deferred tax liabilities (Net)

1.149

0.216

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) Long-term provisions

3.013

2.545

2.187

Total Non-current Liabilities (3)

17.159

7.585

4.174

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

19.061

20.295

18.635

(b) Trade payables

29.404

27.323

14.405

(c) Other current liabilities

18.848

7.813

5.546

(d) Short-term provisions

0.998

0.542

0.156

Total Current Liabilities (4)

68.311

55.973

38.742

 

 

 

 

TOTAL

89.218

65.601

42.008

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

29.783

17.423

8.918

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.111

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.252

(d)  Long-term Loan and Advances

0.652

0.237

0.031

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

31.546

17.660

9.201

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

14.003

10.158

10.280

(c) Trade receivables

36.637

33.393

15.836

(d) Cash and cash equivalents

1.220

1.213

1.209

(e) Short-term loans and advances

5.327

2.816

5.244

(f) Other current assets

0.485

0.361

0.238

Total Current Assets

57.672

47.941

32.807

 

 

 

 

TOTAL

89.218

65.601

42.008

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Total Turnover

174.307

111.847

83.116

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

11.603

8.551

6.928

 

 

 

 

 

Less

INTEREST

5.631

4.391

3.385

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

5.972

4.160

3.543

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

3.835

2.037

0.916

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

2.137

2.123

2.627

 

 

 

 

 

Less

TAX                                                                 

0.928

0.671

0.956

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

1.209

1.452

1.671

 

 

 

 

 

 

NET EARNINGS IN FOREIGN CURRENCY

5.429

3.789

8.618

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

34.50

72.15

331.50

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

250.000

 

 

 

 

 

The above information has been parted by Mr. Prabhakar Rao (Managing Director).

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current maturities of long-term debts

 

 

 

i) Term Loan - Bank

1.638

1.638

1.638

ii) Term Loan - Bank

0.660

0.000

0.000

iii) Siemens Finance-ACE loan

0.614

0.000

0.000

iv) Siemens Finance-Doosan loan

2.352

0.000

0.000

v) Volkswagen Finance

0.193

0.000

0.000

vi) ICICI Car Loan

0.000

0.000

0.252

Total

5.457

1.638

1.890

 

 

 

 

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Total Turnover)

(%)

0.69

1.30

2.01

 

 

 

 

 

Operating Profit Margin

(PBIDT/Total Turnover)

(%)

6.66

7.65

8.34

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.43

3.24

6.29

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.57

1.04

(2.89)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

10.01

13.10

(24.79)

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.84

0.86

0.85

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

2.000

3.500

4.000

Reserves & Surplus

(2.908)

(1.457)

(0.252)

Share Application money pending allotment

0.000

0.000

0.000

Networth

(0.908)

2.043

3.748

 

 

 

 

Long-term borrowings

1.987

4.824

12.997

Short term borrowings

18.635

20.295

19.061

Current Maturities of Long term debts

1.890

1.638

5.457

Total borrowings

22.512

26.757

37.515

Debt/Equity ratio

-24.793

13.097

10.009

 

 

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

Total Turnover

83.116

111.847

174.307

 

 

34.567

55.844

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Turnover

83.116

111.847

174.307

Profit

1.671

1.452

1.209

 

2.01%

1.30%

0.69%

 

 

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

Yes

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 four 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

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG-TERM BORROWINGS

 

 

Loans and advances from related parties

 

 

i) P. A. Prabhakar Rao - Managing Director

(The unsecured loan from the Managing Director and Director is interest free and there are no stipulations as to repayment.)

0.093

0.328

Total

0.093

0.328

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10582447

03/07/2015

1,020,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI – 400 018, MAHARASHTRA, INDIA

C60043288

2

10556282

24/02/2015

3,135,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI – 400 018, MAHARASHTRA, INDIA

C47375654

3

10505410

27/02/2014

4,200,000.00

YOUNGSHIN AUTOMOTIVE INDIA PRIVATE LIMITED

SURVEY NO.307, 310, 317, VAYALUR ROAD, KILAI VILLAGE, SRIPERUMBUDUR – 602 105, TAMILNADU, INDIA

C08856494

4

10473779

31/12/2013

3,000,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI – 400 018, MAHARASHTRA, INDIA

B94789757

5

10439160

29/06/2013

10,236,717.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI – 400 018, MAHARASHTRA, INDIA

B80491731

6

10094504

15/03/2008

4,000,000.00

INDIAN BANK MAIN BRANCH

288, MAHATMA GANDHI ROAD, II FLOOR, AMUDHASURABI BUILDING, PONDICHERRY – 605 001, PONDICHERRY, INDIA

A35094531

7

10000103

01/02/2006

1,080,000.00

INDIAN BANK MAIN BRANCH

288, MAHATMA GANDHI ROAD, II FLOOR, AMUDHASURABI 
BUILDING, PONDICHERRY – 605 001, PONDICHERRY, INDIA

A00040535

8

90005758

24/09/2002

350,000.00

INDIAN BANK

NO.288, M.G. ROAD, II FLOOR, AMUDHASURABI BUILDING, PONDICHERRY, PONDICHERRY, INDIA

-

9

90259993

24/09/2002

350,000.00

INDIAN BANK

MAHATMA GANDHI ROAD, PONDICHERRY – 605 001, PONDICHERRY, INDIA

-

10

90005694

07/04/2001

700,000.00

INDIAN BANK

NO.288, M.G. ROAD, II FLOOR, AMUDHASURABI BUILDING, 
PONDICHERRY, PONDICHERRY, INDIA

-

11

90258704

07/04/2001

700,000.00

INDIAN BANK

MAHATMA GANDHI ROAD, PONDICHERRY – 605 001, PONDICHERRY, INDIA

-

12

90005664

22/06/2000

310,000.00

INDIAN BANK

MAIN M.G. ROAD BRANCH, PONDICHERRY, PONDICHERRY, INDIA

-

13

90259883

22/06/2000

310,000.00

INDIAN BANK

MAHATMA GANDHI ROAD, PONDICHERRY – 605 001, PONDICHERRY, INDIA

-

14

90005637

24/12/1999

355,000.00

INDIAN BANK

MAIN MAHHATMA GANDHI ROAD, PONDICHERRY, PONDICHERRY, INDIA

-

15

90258566

24/12/1999

355,000.00

INDIAN BANK

MAHATMA GANDHI ROAD, PONDICHERRY – 605 001, PONDICHERRY, INDIA

-

16

90005451

01/02/1995

150,000.00

INDIAN BANK

288, M.G. ROAD, PONDICHERRY, PONDICHERRY, INDIA

-

17

90005322

11/04/2013 *

32,111,000.00

INDIAN BANK

288, MAHATMA GANDHI ROAD, II FLOOR, AMUDHASURABI BUILDING, PONDICHERRY – 605 001, PONDICHERRY, INDIA

B73621187

18

90005293

07/04/2001 *

580,000.00

INDIAN BANK

NO.288, M.G. ROAD, II FLOOR, AMUDHASURABI BUILDING, 
PONDICHERRY, PONDICHERRY, INDIA

-

19

90005285

25/11/1987

520,000.00

INDIAN BANK

NO.65; MIESION STREST, PONDICHERRY, PONDICHERRY, INDIA

-

 

* Date of charge modificatio

 

 

CONTINGENT LIABILITY NOT PROVIDED FOR IN THE ACCOUNTS:

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

(a) Bank Guarantee

5.076

5.076

(b) Guarantee given to bank on behalf of sister concerns

10.400

10.400

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Furniture and Fittings

·         Computer

·         Machinery

·         Electrical Installations

·         Furnace

·         Factory Equipments

·         Office Equipments

·         Generator

·         Air Conditioner

·         Pneumatic VMC

·         Spectrum Machine

·         Motor Cycle

·         Hyundai - Car

·         Fixtures and Tools

·         Car Polo H Line

·         CNC Vertical Machine

·         Dosan Infracore Tapping Centre

·         Mobile

 

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.66.60

UK Pound

1

Rs.102.30

Euro

1

Rs.74.61                

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

-

--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

 

26

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

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

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