|
|
|
MIRA INFORM REPORT
|
Report No. : |
506736 |
|
Report Date : |
28.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
HI TECH ARAI PRIVATE LIMITED (w.e.f. 14.12.2010) |
|
|
|
|
Formerly Known
As : |
HI
TECH ARAI LIMITED |
|
|
|
|
Registered Office
: |
G2, No. 12, 12th
Cross Street, Dhandeeswara Nagar, Velachery, Chennai – 600042,
Tamilnadu |
|
Tel. No.: |
91-452-2536116 |
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|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
18.02.1985 |
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|
|
|
Com. Reg. No.: |
18-011572 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 56.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130TN1985PTC011572 |
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|
|
|
IEC No.: [Import-Export Code No.] |
2888001748 |
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|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
33AAACH3917N1ZJ |
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|
|
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TIN No.: |
33806230398 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACH3917N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Oil seals, Reed Valve Assemblies, Moulded
Rubber Parts and “O” Rings and aluminium Precision die cast parts. (Registered
Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 5900000 |
|
|
|
|
Status : |
Excellent |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of “Singapore ARS Pte Limited”, For the financial year ended 2017, the company has witnessed a growth
in its revenue and has achieved decent profit margin at 10.31%
(approximately). The company possesses robust financial profile marked by healthy net
worth base along with debt free balance sheet and favorable gap between trade
payables to its trade receivables. The company also derives strength from its strong holding and its
experienced management team. Fundamentals of the company are strong and healthy. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. In view of strong holding support and sound financial base, the
company can be considered normal for business dealings at 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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 28.04.2018
IBBI (Insolvency and Bankruptcy Board of
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
LOCATIONS
|
Registered Office : |
G2, No. 12, 12th
Cross Street, Dhandeeswara Nagar, Velachery, Chennai – 600042,
Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office/ Factory 1 : |
No. 33, |
|
Tel. No.: |
91-452-2536116/ 2539106/ 2528816/ 2529956 |
|
Fax No.: |
91-452-2539111 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Located at: · Tiruchi |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Bendoor Tarachand Bangera |
||||||||
|
Designation : |
Managing Director |
||||||||
|
Address : |
Plot No.48, |
||||||||
|
Date of Birth/Age : |
17.03.1942 |
||||||||
|
Qualification : |
B.E., M.B.A. (IIM - Ahmedabad) |
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Date of Appointment : |
01.04.2009 |
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PAN No. |
AANPB8111C |
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DIN No.: |
00432492 |
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Other Directorship:
|
|||||||||
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|
|
||||||||
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Name : |
Mr. Ramaiya Lakshminarayanan |
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Designation : |
Whole-time director |
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|
Address : |
S. No.180/ 2B 1A, 2B 1B, |
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|
Date of Birth/Age : |
15.05.1935 |
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|
Date of Appointment : |
01.04.2009 |
||||||||
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PAN No.: |
AARPL6848G |
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DIN No.: |
00501071 |
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Other Directorship:
|
|||||||||
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|
|
||||||||
|
Name : |
Mr. Goichi Mori |
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|
Designation : |
Director |
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|
Address : |
2-1-1-4006, Tsukuda, Chuo-Ku |
||||||||
|
Date of Birth/Age : |
18.05.1965 |
||||||||
|
Date of Appointment : |
30.10.1998 |
||||||||
|
PAN No.: |
CGAPM6651D |
||||||||
|
DIN No.: |
00646904 |
||||||||
KEY EXECUTIVES
|
Name : |
S Ganesh Babu |
|
Designation : |
Company Secretary |
|
Address : |
7-9/19, Bharathi Nagar 5th Cross Street, Krishnapuram Colony, Madurai – 625014, Tamil Nadu, India |
|
Date of Birth/Age : |
13.01.1976 |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
AKBPG9897L |
MAJOR SHAREHOLDERS
AS ON 03.08.2017
|
Names of Shareholders |
|
No. of Shares |
|
Singapore ARS Pte. Limited |
|
4695075 |
|
Mitsubishi Corporation |
|
800000 |
|
M. S. Rajee |
|
32000 |
|
R. Lakshminarayanan |
|
31900 |
|
L. Sujanitha |
|
26000 |
|
Veena Bangera |
|
6000 |
|
B.T. Bangera |
|
6000 |
|
R. Kalyanasundaram |
|
25 |
|
Bina A. Pai |
|
1000 |
|
Sameer P. Rao |
|
2000 |
|
|
|
|
|
Total |
|
5600000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 03.08.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
1.60 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
0.27 |
|
Public/Other than promoters [Body corporate] |
98.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Oil seals, Reed Valve Assemblies, Moulded
Rubber Parts and “O” Rings and aluminium Precision die cast parts. (Registered Activity) |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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||||||
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Imports : |
Not Available |
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|
||||||
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|
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|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Manian and Rao Chartered Accountants |
|
Address : |
110, (Old No. 85), 4th Street, Harvey Nagar, Arasaradi, Madurai
– 625016, Tamilnadu, India |
|
PAN No.: |
AAHFM0757B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
·
Singapore ARS Pte Limited, Singapore |
|
|
|
|
Associates : |
· Arai America Inc., United States · Thai Arai Co., Limited, Thailand |
|
|
|
|
Subsidiary company
: |
·
Arai Seisakusho Company Limited, Japan |
|
|
|
|
Fellow Subsidiary Companies : |
· PT Arai Rubber Seals, Indonesia · Wuhan Arai Oilseals Manufacturing Co. Limited, China · Vietnam Arai Co., Limited, Vietnam |
CAPITAL STRUCTURE
AS ON 03.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8750000 |
Equity Shares |
INR 10/- each |
INR 87.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5600000 |
Equity Shares |
INR 10/- each |
INR 56.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
56.000 |
56.000 |
56.000 |
|
(b) Reserves & Surplus |
2040.482 |
1977.788 |
1715.172 |
|
(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) |
2096.482 |
2033.788 |
1771.172 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
64.058 |
55.909 |
68.414 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
64.058 |
55.909 |
68.414 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
413.731 |
375.675 |
441.749 |
|
(c) Other
current liabilities |
222.525 |
265.728 |
204.172 |
|
(d) Short-term
provisions |
444.704 |
237.900 |
169.828 |
|
Total Current
Liabilities (4) |
1080.960 |
879.303 |
815.749 |
|
|
|
|
|
|
TOTAL |
3241.500 |
2969.000 |
2655.335 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
980.054 |
904.224 |
929.073 |
|
(ii)
Intangible Assets |
9.037 |
13.419 |
18.449 |
|
(iii)
Capital work-in-progress |
0.048 |
0.763 |
0.563 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.065 |
0.065 |
0.065 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
27.886 |
28.714 |
31.477 |
|
(e) Other
Non-current assets |
0.050 |
0.050 |
0.071 |
|
Total Non-Current
Assets |
1017.140 |
947.235 |
979.698 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
608.654 |
472.179 |
582.356 |
|
(c) Trade
receivables |
1016.129 |
949.426 |
822.564 |
|
(d) Cash
and cash equivalents |
462.524 |
438.763 |
70.527 |
|
(e)
Short-term loans and advances |
133.506 |
153.320 |
200.099 |
|
(f) Other
current assets |
3.547 |
8.077 |
0.091 |
|
Total
Current Assets |
2224.360 |
2021.765 |
1675.637 |
|
|
|
|
|
|
TOTAL |
3241.500 |
2969.000 |
2655.335 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4530.722 |
4359.671 |
4400.410 |
|
|
Other Income |
37.752 |
18.502 |
11.232 |
|
|
TOTAL |
4568.474 |
4378.173 |
4411.642 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1871.479 |
1672.840 |
2002.374 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(104.829) |
(3.458) |
(6.729) |
|
|
Employee benefit expense |
590.888 |
509.412 |
452.658 |
|
|
CSR expenditure |
6.603 |
5.817 |
4.988 |
|
|
Other expenses |
1253.689 |
1264.704 |
1156.877 |
|
|
Prior period items before tax |
0.430 |
0.835 |
(1.507) |
|
|
TOTAL |
3618.260 |
3450.150 |
3608.661 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
950.214 |
928.023 |
802.981 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.294 |
2.065 |
4.525 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
948.920 |
925.958 |
798.456 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
225.061 |
211.785 |
229.695 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
723.859 |
714.173 |
568.761 |
|
|
|
|
|
|
|
Less |
TAX |
256.763 |
249.356 |
192.615 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
467.096 |
464.817 |
376.146 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
321.861 |
286.676 |
569.548 |
|
|
TOTAL EARNINGS |
321.861 |
286.676 |
569.548 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1071.041 |
847.075 |
1120.300 |
|
|
Capital Goods |
217.276 |
121.207 |
207.900 |
|
|
TOTAL IMPORTS |
1288.317 |
968.282 |
1328.200 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
83.41 |
83.00 |
67.17 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
746.367 |
942.971 |
720.975 |
|
Net cash flows from (used in) operating activities |
493.155 |
680.965 |
496.487 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
81.86 |
79.49 |
68.23 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.46 |
4.59 |
5.35 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
80.69 |
81.97 |
80.52 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.56 |
1.97 |
1.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.96 |
1.01 |
0.85 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.33 |
0.30 |
0.31 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.52 |
0.43 |
0.46 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.47 |
0.45 |
0.54 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
734.32 |
449.41 |
177.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
10.31 |
10.66 |
8.55 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
14.41 |
15.66 |
14.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.28 |
22.85 |
21.24 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
2.06 |
2.30 |
2.05 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
1.49 |
1.76 |
1.34 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.65 |
0.69 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
2.06 |
2.30 |
2.05 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
56.000 |
56.000 |
56.000 |
|
Reserves & Surplus |
1715.172 |
1977.788 |
2040.482 |
|
Net
worth |
1771.172 |
2033.788 |
2096.482 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4400.410 |
4359.671 |
4530.722 |
|
|
|
(0.926) |
3.923 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4400.410 |
4359.671 |
4530.722 |
|
Profit/ (Loss) |
376.146 |
464.817 |
467.096 |
|
|
8.55
% |
10.66
% |
10.31
% |
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 |
Yes |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered Office
of the company has been shifted from No. 2, V.P. Rathinasamy Nadar Road, North
Chokkikulam, Madurai – 625014, Tamilnadu, India to the present address w.e.f.
01.09.2009
GENERAL INFORMATION ABOUT COMPANY
The Company was incorporated as Hi-tech Ancillaries Private Limited on 18-02-1985. The Company became a public limited company on 01-04-1990 and the name of the Company was changed to Hi-tech Arai Ltd on 23-12-1993. The Company converted itself as a private company on 14-12-2010. The Company manufactures oil seals, moulded rubber parts, O rings and Reed Valve Assemblies with the knowhow and technical support from M/s Arai Seisakusho Co Limited, Japan and supplies to all the leading OEMs in India and exports compounded rubber. The Company has a Wind power division invested in 23 windmills with 11 Megawatt capacity and uses the electricity generated for captive use and sells the surplus electricity generated to the TANGEDCO. The Registered office of the Company is situated in Chennai. The corporate office of the company is at Madurai and the Company's manufacturing facilities are at Madurai and Tiruchi.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
B68232693 |
10159735 |
HDFC BANK
LIMITED |
28/04/2009 |
18/01/2013 |
- |
200000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARG LOWER PAREL W MUMBAI 400013 MAHARASHTRA INDIA |
|
2 |
Y10411942 |
90289015 |
THE BANK OF NOVA
SCOTIA |
10/12/2001 |
13/06/2005 |
- |
20000000.0 |
CLASSIC
TOWERS1547; TRICHY ROAD COIMBATORE 641018 TAMILNADU INDIA |
|
3 |
Y10420797 |
90297870 |
STATE BANK OF
INDIA |
14/06/2000 |
25/03/2004 |
- |
9500000.0 |
MADURAI CITY
BRANCH AMBIKA COMPLEX MADURAI -625009 TAMILNADU INDIA |
|
4 |
Y10410545 |
90287618 |
STATE BANK OF
INDIA |
14/06/2000 |
13/06/2005 |
- |
9500000.0 |
MADURAI CITY
BRANCH AMBIKA COMPLEX; KAMARAIAR SALAI MADURAI 625009 TAMILNADU INDIA |
|
5 |
Y10420717 |
90297790 |
THE BANK OF NOVA
SCOTIA |
05/02/1999 |
25/03/2004 |
- |
45000000.0 |
CLASSIC
TOWERS1547; TRICHY ROAD COIMBATORE -600018 TAMILNADU INDIA |
|
6 |
C71778419 |
90287527 |
IDBI BANK
LIMITED |
25/09/1998 |
25/11/2015 |
- |
100000000.0 |
SPECIALISED
CORPORATE BRANCHLIC BUILDING I FLOOR, NO.3, WEST MARRET STREET MADURAI 625001
TAMILNADU INDIA |
|
7 |
Y10420699 |
90297772 |
IDBI BANK
LIMITED |
25/09/1998 |
25/03/2004 |
- |
47000000.0 |
1/1; KARTHIKRAJA
COMPLEX VINAYAGA NAGAR; K.K. NAGAR MADURAI -625020 TAMILNADU INDIA |
|
8 |
C40170110 |
90297987 |
THE BANK OF
TOKYO-MITSUBISHI UFJ LIMITED |
07/02/2005 |
07/02/2012 |
26/12/2014 |
575000000.0 |
SESHACHALAM
CENTRE, 6TH & 7TH FLOOR 636/1, ANNA SALAI, NANDANAM CHENNAI -600035
TAMILNADU INDIA |
|
9 |
B77382539 |
10178002 |
ABN AMRO BANK
N.V |
26/08/2009 |
- |
07/06/2013 |
150000000.0 |
NO.16, KUMARAN
ROAD, TIRUPUR -641601 TAMILNADU INDIA |
|
10 |
A13281282 |
90287550 |
THE BANK OF NOVA
SCOTIA |
05/02/1999 |
13/06/2005 |
27/03/2007 |
44500000.0 |
CLASSIC
TOWERS1547; TRICITY ROAD COIMBATORE -641018 TAMILNADU INDIA |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 records 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
|
INR |
|
US Dollar |
1 |
INR 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.