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MIRA INFORM REPORT
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Report No. : |
484652 |
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Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
TATA SIKORSKY AEROSPACE LIMITED (w.e.f. 26.08.2014) |
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Formerly Known
As : |
TARA
AEROSPACE SYSTEMS LIMITED (w.e.f. 12.09.2008) SUPER
SYSTEMS AND TECHNOLOGIES LIMITED |
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Registered
Office : |
Hardware Park, Plot No 21, Sy No 1/1, Imarat Kancha, Raviryala Village,
Maheshwaram Mandal, Hyderabad – 501218, Telangana |
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Tel. No.: |
91-40-66408238 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.06.2008 |
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Com. Reg. No.: |
36-077969 |
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Capital
Investment / Paid-up Capital : |
INR 513.514 Million |
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CIN No.: [Company Identification
No.] |
U74990TG2008PLC077969 |
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IEC No.: |
Not Available |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAMCS1225J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company
is in the business of Manufacturer of Cabin Kits and parts thereof and Engine
components for Aerospace Industry. [Registered Activity] |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 1030000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Tata Sikorsky Aerospace Limited is a subsidiary of “ Tata Advanced Systems
Limited”, India which holds 74% stake in the company and remaining 26% held
by Lockheed Martin Global, Inc”, United States and it is a part of “ Tata
Group”. The company was incorporated in the year 2008. For the financial year 2017, the company has achieved 51.63% growth in
its revenues as compared to previous year revenue and has maintained average
profit margin of 1.82%. The moderate financial profile of the company is marked by negative
reserve base along with comfortable debt coverage indicators. However, Rating also takes into account the strong financial and
managerial support that the company receives from its holding entity backed
by its well experienced management team. Business is active. Payments are reported to be usually correct. In view of aforesaid, the company can be considered 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 (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
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
31-03-2016.
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 10.01.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
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 : |
Hardware Park, Plot No 21, Sy No 1/1, Imarat Kancha, Raviryala Village,
Maheshwaram Mandal, Hyderabad – 501218, Telangana, India |
|
Tel. No.: |
91-40-66408238 |
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Mobile No.: |
Not Available |
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Fax No.: |
91-40-66448242 |
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E-Mail : |
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Website : |
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Locality : |
Industrial cum commercial |
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Factory : |
SYO. No.255, Aditya Nagar, Adibatla Village, Ibrahimpatnam (M), District
:Ranga Reddy – 501510, Telangana, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Ramadorai Subramanian |
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Designation : |
Director |
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Address : |
Flat No.1, First Floor, Wyoming Little Gibbs Road, Malabar
Hill, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
06.10.1944 |
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Date of Appointment : |
01.09.2011 |
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DIN No : |
00000002 |
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Other
Directorship :
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Name : |
Mr. Prakash Manjanath Telang |
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Designation : |
Director |
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Address : |
Paradise Towers, D 211 / 212, Baner Road, Pune – 411045,
Maharashtra, India |
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Date of Birth/Age : |
21.06.1947 |
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Date of Appointment : |
01.09.2011 |
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DIN No.: |
00012562 |
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Other
Directorship :
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Name : |
Ms. Radhika Govind Rajan |
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Designation : |
Director |
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Date of Birth/Age : |
23.04.1956 |
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Address : |
111, Central Park, North Apartment, 9C, New York – 10026,
United States |
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Date of Appointment : |
23.03.2015 |
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DIN No.: |
00499485 |
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Other
Directorship :
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Name : |
Mr. Sukaran Singh |
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Designation : |
Director |
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Address : |
4-W, 4th Floor, Sundatta Apartment, Mount Pleasant Road,
Malabar Hill, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
14.05.1969 |
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Date of Appointment : |
12.06.2008 |
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DIN No.: |
01485745 |
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Other
Directorship :
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Name : |
Ms. Indira Seshukutty Rajaraman |
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Designation : |
Director |
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Address : |
2395, Sector B-2 Vasant Kunj, Green Glade Apartment, New
Delhi – 110070, India |
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Date of Appointment : |
23.03.2015 |
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DIN No.: |
07143307 |
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Name : |
Mr. John Henry Palumbo |
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Designation : |
Director |
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Address : |
1, Legion Road, Seymour – 06433, United States |
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Date of Appointment : |
13.07.2015 |
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DIN No.: |
07210533 |
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Name : |
Mr. Dana Anthony Fiatarone |
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Designation : |
Director |
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Address : |
37 Old Country Road, Oxford – 06478, US |
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Date of Appointment : |
03.07.2017 |
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DIN No.: |
07849184 |
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KEY EXECUTIVES
|
Name : |
Mr. Gunneswara Rao Pusarla |
|
Designation : |
Chief Executive Officer |
|
Address : |
Flat No.2 LH 3101, Lanco
Hills, Manikonda, Hyderabad – 500089, Telangana, India |
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Date of Birth/Age : |
01.07.1970 |
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Qualification : |
CA |
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Date of Appointment : |
23.03.2015 |
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PAN No.: |
ABZPP5409L |
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|
Name : |
Mr. K.R. Ravi |
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Designation : |
Manager |
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Address : |
Road No.3, H No 1130/3, Sai Colony, Badangpet, Hyderabad – 501510,
Telangana, India |
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Date of Birth/Age : |
02.02.1959 |
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Qualification : |
BE |
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Date of Appointment : |
21.03.2016 |
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PAN No.: |
ABMPR1801K |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Tata Advanced
Systems Limited, India |
37999993 |
|
Lockheed Martin Global, Inc |
13351351 |
|
Tata Advanced Systems
Limited, India jointly with Sukran Singh |
1 |
|
Tata Advanced
Systems Limited jointly with Masood Hussainy |
1 |
|
Tata Advanced
Systems Limited jointly with AVS Prasad |
1 |
|
Tata Advanced System Limited
jointly with P Gunneswara Rao |
1 |
|
Tata Advanced
Systems Limited jointly with S.R. Venkatesan |
1 |
|
Tata Advanced
Systems Limited jointly with Praveen Kumar |
1 |
|
Total |
51351350 |
Equity Share Break up (Percentage of Total Equity)
As on 17.08.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
74.00 |
|
Public/Other than promoters (Body corporate) |
26.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is in the business of Manufacturer of Cabin Kits and parts thereof and
Engine components for Aerospace Industry. [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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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
M. A. Parikh and Company Chartered Accountants |
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Address : |
Yusuf Building, 2nd Floor, 43 Mahatma, Gandhi Road, Fort, Mumbai- 400001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM1433H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
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Fellow subsidiaries
with whom the company : |
(CIN - U29268TG2010PLC077940)
(CIN - U85110MH2000PLC128425)
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Fellow subsidiaries
of investing party : |
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Investing party of
which the company is an associate United
Technologies (Investing party) : |
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Ultimate holding
company: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
INR 10/- each |
INR 1000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51351350 |
Equity Shares |
INR 10/- each |
INR 513.514 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
513.514 |
513.514 |
513.514 |
|
(b) Reserves & Surplus |
(152.719) |
(180.827) |
(291.728) |
|
(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 |
360.795 |
332.687 |
221.786 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
143.713 |
749.567 |
271.522 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
267.652 |
15.803 |
0.000 |
|
(d) long-term provisions |
24.283 |
18.862 |
15.251 |
|
Total
Non-current Liabilities |
435.648 |
784.232 |
286.773 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
362.521 |
522.357 |
359.603 |
|
(b) Trade payables |
373.501 |
172.739 |
292.863 |
|
(c) Other current liabilities |
313.331 |
309.815 |
275.790 |
|
(d) Short-term provisions |
4.414 |
14.507 |
2.115 |
|
Total
Current Liabilities |
1053.767 |
1019.418 |
930.371 |
|
|
|
|
|
|
TOTAL |
1850.210 |
2136.337 |
1438.930 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
535.760 |
604.775 |
450.330 |
|
(ii) Intangible Assets |
53.859 |
56.981 |
11.755 |
|
(iii) Capital work-in-progress |
10.234 |
0.000 |
61.177 |
|
(iv) Intangible assets under
development |
0.000 |
7.817 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
32.531 |
34.089 |
5.664 |
|
(d) Long-term Loan and Advances |
5.808 |
5.461 |
13.545 |
|
(e) Other Non-current assets |
0.000 |
0.600 |
0.600 |
|
Total
Non-Current Assets |
638.192 |
709.723 |
543.071 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
575.866 |
741.505 |
416.081 |
|
(c) Trade receivables |
484.689 |
608.531 |
365.652 |
|
(d) Cash and cash equivalents |
30.708 |
2.621 |
3.003 |
|
(e) Short-term loans and
advances |
88.537 |
59.859 |
80.331 |
|
(f) Other current assets |
32.218 |
14.098 |
30.792 |
|
Total
Current Assets |
1212.018 |
1426.614 |
895.859 |
|
|
|
|
|
|
TOTAL |
1850.210 |
2136.337 |
1438.930 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1543.380 |
1017.854 |
1788.755 |
|
|
Other Income |
38.213 |
0.776 |
16.647 |
|
|
TOTAL
|
1581.593 |
1018.630 |
1805.402 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
586.552 |
387.524 |
1134.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
120.495 |
(101.747) |
(75.869) |
|
|
Employees benefits expense |
251.366 |
208.710 |
220.859 |
|
|
Other expenses |
350.402 |
267.621 |
311.419 |
|
|
CSR Expenditure |
0.704 |
0.000 |
0.000 |
|
|
Exceptional items before tax |
66.920 |
0.000 |
0.000 |
|
|
TOTAL |
1376.439 |
762.108 |
1590.409 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
205.154 |
256.522 |
214.993 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
59.279 |
66.105 |
40.922 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
145.875 |
190.417 |
174.071 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
109.507 |
92.368 |
74.362 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
36.368 |
98.049 |
99.709 |
|
|
|
|
|
|
|
Less |
TAX |
8.260 |
(12.852) |
1.792 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
28.108 |
110.901 |
97.917 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(180.827) |
(291.728) |
(389.645) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(152.719) |
(180.827) |
(291.728) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1238.410 |
950.480 |
1718.089 |
|
|
TOTAL
EARNINGS |
1238.410 |
950.480 |
1718.089 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
477.086 |
421.662 |
1251.213 |
|
|
Components and Stores parts |
48.510 |
24.340 |
31.456 |
|
|
Capital Goods |
8.132 |
117.813 |
6.302 |
|
|
TOTAL
IMPORTS |
533.728 |
563.815 |
1288.971 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.550 |
2.160 |
1.910 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
96.573 |
107.600 |
65.000 |
|
Net cash flows from (used in) operations |
923.087 |
(368.688) |
67.316 |
|
Net cash flows from (used in) operating activity |
882.013 |
(372.089) |
67.345 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
114.63 |
218.22 |
74.61 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.18 |
1.67 |
4.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
232.42 |
162.70 |
94.26 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.36 |
0.35 |
0.52 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.34 |
0.38 |
0.41 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.70 |
0.88 |
0.88 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.67 |
4.15 |
3.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.92 |
3.06 |
4.19 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.66 |
2.01 |
2.36 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.46 |
3.88 |
5.25 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
1.82 |
10.90 |
5.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
1.52 |
5.19 |
6.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
7.79 |
33.33 |
44.15 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
1.40 |
0.96 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.60 |
0.67 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.20 |
0.16 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.17 |
2.69 |
1.36 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
1.40 |
0.96 |
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 |
513.514 |
513.514 |
513.514 |
|
Reserves & Surplus |
(291.728) |
(180.827) |
(152.719) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
221.786 |
332.687 |
360.795 |
|
|
|
|
|
|
long-term borrowings |
271.522 |
749.567 |
143.713 |
|
Short term borrowings |
359.603 |
522.357 |
362.521 |
|
Current maturities of
long-term debts |
65.000 |
107.600 |
96.573 |
|
Total
borrowings |
696.125 |
1379.524 |
602.807 |
|
Debt/Equity
ratio |
3.139 |
4.147 |
1.671 |
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 |
1788.755 |
1017.854 |
1543.380 |
|
|
|
(43.097) |
51.631 |
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 |
1788.755 |
1017.854 |
1543.380 |
|
Profit |
97.917 |
110.901 |
28.108 |
|
|
5.47% |
10.90% |
1.82% |
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 |
Yes |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
No |
|
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 |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
Yes |
|
21] |
Banking facility details |
No |
|
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] |
Litigations that the firm/promoter
involved in |
-- |
|
32] |
Market information |
-- |
|
33] |
Payments terms |
No |
|
34] |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION:
The Company is a Joint Venture Company formed by Tata Advanced Systems Limited (TASL) and Sikorsky Aircraft Corporation (Sikorsky), which formed part of United Technologies Corporation (UTC). Consequent to UTC divesting its Sikorsky Aircraft business to Lockheed Martin, during the year equity shares held by United Technologies International Corporation Asia Private Limited stands transferred to Lockheed Martin Global Inc., A Delaware (USA) Corporation.
The Company is engaged in the business of manufacture of cabin kits and/or parts thereof and Engine Components for Aerospace Industry. The manufacturing unit is at Adibatla Village, Hyderabad, for which the Company has been provided by Sikorsky on no cost basis equipment, machineries, tooling and IT (loaned assets) by executing an Equipment Loan Agreement and ownership of loaned assets shall get transferred to the Company on completion of 10 years from the effective the date of commencement of commercial operations.
BUSINESS OUTLOOK:
The AH64 Fuselage and Vertical Spar Box deliveries will commence in April 2017. The prototype kit fabrication for C130 detail parts will be completed phase-wise in FY 17-18. The volumes for current Rolls Royce production packages and GE engine parts are expected to touch peak rates in Q2-2017. The production of FAI kit for Rolls Royce pipes and tubes package will also commence in May 2017.
STATE OF COMPANIES
AFFAIR
The Company achieved profit of INR 28.100 Million in FY 2016-17 as compared to profit of INR 110.9 Million during FY 2015-16. The reduction mainly was on account of Exceptional items relating to inventory and supplier related costs.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G49543010 |
10602177 |
Axis Bank Limited |
16/10/2015 |
03/07/2017 |
- |
950000000.0 |
D No 6-3-879/B, 1st Floor, G Pulla Reddy Building Greenlands, Begumpet Road, HyderabadTG500016IN |
|
2 |
G49251580 |
10358861 |
State Bank of India |
17/05/2012 |
29/06/2017 |
- |
1459000000.0 |
Industrial Finance Branch, No. 6-3-865My Home Jupally, AmeerpetHyderabadTG500016IN |
|
3 |
C77825057 |
10409495 |
KOTAK MAHINDRA BANK LTD. |
12/02/2013 |
22/11/2013 |
29/01/2016 |
100000000.0 |
6-3-1109/1/P202, 2nd Floor, Jewel Pavani Tower, Rajbhavan Road, Somajiguda, Hyderabad AP500082IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
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 63.47 |
|
|
1 |
INR 86.15 |
|
Euro |
1 |
INR 75.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TRUP |
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.