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|
|
MIRA INFORM REPORT
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Report No. : |
485145 |
|
Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
INDO SCHOTTLE AUTO PARTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 378/387/389, Village Urawade, Taluka Mulshi, District Pune – 412108, Maharashtra |
|
Tel. No.: |
91- 20-32540050/51/52 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
09.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-035877 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 46.654 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1985PTC035877 |
|
|
|
|
IEC No.: |
0388001674 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACI4592E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Assemblers of valve collets, valve guides, push rods,
water pumps, valve seal inserts. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information declined by the management |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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Comments : |
Subject acts as a subsidiary of “SFS Intec Holding AG, Switzerland” incorporated in the year 1985 having fine track record. It is engaged as manufacturer of automobile parts such as engine valve collets, rocker arm screws, turbocharger components and assemblies and fuel system parts and assemblies. Management has not filed its financials for the year 2017 with the Registrar of Companies. As per available financials of 2016, the revenue of the company has marginally declined as compared to previous year and has reported average profitability margin during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by high precision components manufacturing capabilities along with strong position in domestic as well as international market. However, these rating strengths gets partially offset by capital intensive nature of business along with competition faced from large number of players in turbocharger market, being the critical component with strong of technical know-how requirements which exerts pressure on the profitability margins. Payments are reported to be regular. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term facilities = A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
17.05.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
17.05.2017 |
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 11.01.2018
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.
INFORMATION DENIED BY
|
Name : |
Ms. Smita |
|
Designation : |
Deputy General Manager |
|
Contact No.: |
91-20-66740512 |
|
Date : |
09.01.2018 |
Tel
No.91-20-22922005 (Not working)
LOCATIONS
|
Registered Office/
EOU Plant/ Factory 1: |
Gat No. 378/387/389, Village Urawade, Taluka Mulshi, District Pune – 412108, Maharashtra, India |
|
Tel. No.: |
91-20-66740511 /32540050/51/52 |
|
Fax No.: |
91-20-66740519 |
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E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality: |
Commercial |
|
|
|
|
Factory 2 : |
Domestic Plant: Gat No. 1073/6, Mutha Urawade Road, Village - Pirangut, Taluka
Mushi, Pune
– 412115, Maharashtra, India |
|
Tel. No.: |
91-20-32540068/ 55 |
|
Fax No.: |
91-20-22933800 |
|
E-Mail : |
|
|
|
|
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Factory 3 : |
SEZ Plant: Plot No. 7 and 8, Quest Special Economic Zone, Hattargai and Belgaum –
560001, Karnataka, India |
|
|
|
|
Factory 4 : |
Belgaum Plant: Plot No. 84/C, S. No. 536, K.I.A.D.B Industrial Area Honga, |
|
Tel. No.: |
91-831-2414458 |
|
Fax No.: |
91-831-2414458 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ramchandra Raghevendra Rao |
|
Designation : |
Managing Director |
|
Address : |
202, Matruchaya, 40 Jeevanchaya Society, Paud Road, Near Bedeker Ganpati Mandir, Pune-411038, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1956 |
|
Date of Appointment : |
02.09.2013 |
|
DIN No.: |
02715085 |
|
|
|
|
Name : |
Mr. Vijay Balkrishna Pusalkar |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 816, Lane No. 8, Sind Housing, Aundh, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1944 |
|
Qualification : |
B.Com Diploma in International Trade |
|
Date of Appointment : |
09.04.1985 |
|
PAN No.: |
AAUPP9264H |
|
DIN No.: |
00755575 |
|
|
|
|
Name : |
Alfred Josef Schneider |
|
Designation : |
Nominee Director |
|
Address : |
Muhlackerweg 31 Altstatten 9450 Switzerland |
|
Date of Birth/Age : |
03.05.1959 |
|
Date of Appointment : |
05.07.2016 |
|
DIN No.: |
07560230 |
|
|
|
|
Name : |
Mr. Shishir Suresh Shirgaokar |
|
Designation : |
Director |
|
Address : |
12, Koshtaka House, 31 Pali Road, Bandra, Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
16.01.1945 |
|
Date of Appointment : |
13.12.1990 |
|
DIN No.: |
00166189 |
|
|
|
|
Name : |
Mr. Ashok Shreekrishna Beharay |
|
Designation : |
Director |
|
Address : |
“Bahar”, 72/25, Vishwamitra Colony, Gulmohor Path, Off Law College Road, Pune – 411004, Maharashtra, India |
|
Date of Birth/Age : |
11.02.1947 |
|
Date of Appointment : |
29.04.2004 |
|
DIN No.: |
00637061 |
|
|
|
|
Name : |
Mr. Jens Peter Breu |
|
Designation : |
Nominee Director |
|
Address : |
Im Moos 4A, Luchingen 9450 |
|
Date of Birth/Age : |
08.06.1972 |
|
Date of Appointment : |
12.04.2004 |
|
DIN No.: |
05239354 |
|
|
|
|
Name : |
Shilpa Ajit Kher |
|
Designation : |
Director |
|
Address : |
F 1/2, Shirin Garden, D. P. Road, Aundh, Pune, 411007, Maharashtra, India |
|
Date of Appointment : |
25.11.2014 |
|
DIN No.: |
06977862 |
|
|
|
|
Name : |
Mr. Ajay Charuchandra Kirtane |
|
Designation : |
Director |
|
Address : |
364, Mahatma Co- Operative Society, Lane - 17,Kothrud, Pune -411038, Maharashtra, India |
|
Date of Appointment : |
27.06.2009 |
|
DIN No.: |
02711040 |
KEY EXECUTIVES
|
Name : |
Ms. Smita |
|
Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Balkrishna Pusalkar |
|
509600 |
|
Sanjay Vaidya |
|
2000 |
|
Rajendra Shah |
|
3000 |
|
Ajay Kirtane |
|
4000 |
|
Ashok Beharay |
|
2000 |
|
Vandana Rahane |
|
1000 |
|
SFS Intec Holding AG, Switzerland |
|
4143750 |
|
Total |
|
4665350 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
10.92 |
|
Promoters (Body corporate) |
88.82 |
|
Public/Other than promoters (Individual/Hindu Undivided Family – Indian) |
0.26 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Assemblers of valve collets, valve guides, push rods,
water pumps, valve seal inserts. (Registered Activity) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers (As per indirect sources) |
· Agro Match · Ashok Leyland · Atul · Avtec · Bajaj · Beml · Bosch · Elgi · Escorts · FIAT · Yamaha · John Deere · Force · Hero Honda · HMT · Greaves · Maruti Suzuki · New Holland · Piaggio ·
TVS ·
TATA ·
Suyash Industries |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
P.G. Bhagwa Chartered Accountant |
|
Address : |
Suite 101-102, Orchard, Dr. Pai Marg, Baner, Pune – 411045, Maharashtra, India |
|
PAN No.: |
AAAFB0762E |
|
|
|
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Memberships : |
--- |
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|
|
|
Collaborators : |
--- |
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|
|
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Holding Company : |
·
SFS Intec Holding AG |
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Subsidiary: |
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|
|
|
Enterprises in which Key Management Personnel / Relatives are
interested: |
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|
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|
Fellow Subsidiary: |
|
CAPITAL STRUCTURE
As on 30.09.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
INR 10/- each |
INR 75.000 Million |
|
10000000 |
Preference Shares |
INR 10/- each |
INR 100.000 Million |
|
|
Total |
|
INR 175.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4665350 |
Equity Shares |
INR 10/- each |
INR 46.654 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
46.654 |
46.654 |
46.654 |
|
(b) Reserves & Surplus |
1480.307 |
1371.672 |
1229.549 |
|
(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) |
1526.961 |
1418.326 |
1276.203 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
787.987 |
247.424 |
294.429 |
|
(b) Deferred tax liabilities (Net) |
66.173 |
78.981 |
96.703 |
|
(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) |
854.160 |
326.405 |
391.132 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
84.139 |
129.057 |
270.088 |
|
(b) Trade
payables |
99.119 |
126.624 |
90.188 |
|
(c) Other
current liabilities |
374.848 |
292.475 |
263.124 |
|
(d) Short-term
provisions |
42.684 |
116.814 |
55.659 |
|
Total Current
Liabilities (4) |
600.790 |
664.970 |
679.059 |
|
|
|
|
|
|
TOTAL |
2981.911 |
2409.701 |
2346.394 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1271.628 |
1395.082 |
1299.977 |
|
(ii)
Intangible Assets |
13.809 |
17.460 |
20.956 |
|
(iii) Capital
work-in-progress |
751.783 |
38.944 |
48.958 |
|
(iv)
Intangible assets under development or WIP |
1.718 |
0.000 |
0.000 |
|
(b) Non-current Investments |
17.090 |
17.090 |
17.090 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
48.597 |
35.618 |
69.618 |
|
(e) Other
Non-current assets |
2.039 |
0.000 |
0.538 |
|
Total Non-Current
Assets |
2106.664 |
1504.194 |
1457.137 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
25.012 |
10.000 |
35.191 |
|
(b)
Inventories |
353.298 |
375.202 |
357.662 |
|
(c) Trade
receivables |
408.472 |
443.311 |
360.059 |
|
(d) Cash
and cash equivalents |
24.470 |
18.391 |
77.120 |
|
(e)
Short-term loans and advances |
34.337 |
50.143 |
52.289 |
|
(f) Other
current assets |
29.658 |
8.460 |
6.936 |
|
Total
Current Assets |
875.247 |
905.507 |
889.257 |
|
|
|
|
|
|
TOTAL |
2981.911 |
2409.701 |
2346.394 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1818.938 |
1885.773 |
1578.160 |
|
|
Other Income |
23.126 |
41.420 |
(15.133) |
|
|
TOTAL |
1842.064 |
1927.193 |
1563.027 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
361.274 |
369.686 |
311.561 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.361) |
24.643 |
(85.044) |
|
|
Employees benefits
expense |
333.120 |
305.257 |
253.892 |
|
|
Other expenses |
660.446 |
675.244 |
589.875 |
|
|
CSR Expenditure |
0.000 |
0.500 |
0.000 |
|
|
TOTAL |
1354.479 |
1375.330 |
1070.284 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
487.585 |
551.863 |
492.743 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
27.758 |
20.935 |
50.208 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
459.827 |
530.928 |
442.535 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
208.235 |
205.973 |
173.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
251.592 |
324.955 |
269.235 |
|
|
|
|
|
|
|
Less |
TAX |
81.191 |
98.046 |
92.960 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
170.401 |
226.909 |
176.275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
841.318 |
994.677 |
828.963 |
|
|
TOTAL EARNINGS |
841.318 |
994.677 |
828.963 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
116.400 |
112.806 |
139.051 |
|
|
Components and Stores
parts |
55.054 |
63.373 |
45.432 |
|
|
Capital Goods |
522.480 |
196.753 |
30.337 |
|
|
TOTAL IMPORTS |
693.934 |
372.932 |
214.820 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
36.52 |
48.64 |
37.78 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
251.822 |
147.454 |
172.970 |
|
Cash generated from operations |
490.079 |
585.554 |
353.326 |
|
Net Cash flows from operating activities |
405.005 |
471.550 |
266.675 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
81.97 |
85.80 |
83.28 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
4.45 |
4.25 |
4.38 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
100.14 |
125.02 |
105.66 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.38 |
1.47 |
1.38 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.24 |
0.38 |
0.36 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.55 |
0.44 |
0.49 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.74 |
0.37 |
0.58 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.39 |
0.47 |
0.53 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.34 |
1.02 |
1.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
17.57 |
26.36 |
9.81 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
9.37 |
12.03 |
11.17 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.71 |
9.42 |
7.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
11.16 |
16.00 |
13.81 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.46 |
1.36 |
1.31 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.87 |
0.80 |
0.78 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.51 |
0.59 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
24.09 |
11.23 |
15.81 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.46 |
1.36 |
1.31 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
46.654 |
46.654 |
46.654 |
|
Reserves & Surplus |
1229.549 |
1371.672 |
1480.307 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1276.203 |
1418.326 |
1526.961 |
|
|
|
|
|
|
long-term borrowings |
294.429 |
247.424 |
787.987 |
|
Short term borrowings |
270.088 |
129.057 |
84.139 |
|
Current maturities of
long-term debts |
172.970 |
147.454 |
251.822 |
|
Total
borrowings |
737.487 |
523.935 |
1123.948 |
|
Debt/Equity
ratio |
0.578 |
0.369 |
0.736 |
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 |
1578.160 |
1885.773 |
1818.938 |
|
|
|
19.492 |
(3.544) |
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 |
1578.160 |
1885.773 |
1818.938 |
|
Profit |
176.275 |
226.909 |
170.401 |
|
|
11.17% |
12.03% |
9.37% |
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 |
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 |
Yes |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
STATE OF THE
COMPANY’S AFFAIRS:
During the year, the total revenue of the Company was INR 1,842.06 million as against INR 1,927.19 million in comparison with previous year. The profit after tax is INR 170.400 million in comparison with previous year’s profit of INR 226.90 million.
During the year the Company’s Sales declined by 3% over the previous year. This was mainly on account of a fall in Sales to the Company’s customers in North America and Europe.
The last report of the Company had purchased the plant and machinery of a Company in Belgium. During the year the Company successfully dismantled and transported the plant and machinery from Belgium to India. The installation and commissioning of the machinery is in progress and will be completed in the current financial year. The Company has substantially completed the construction of the Factory Building in the SEZ, near Belgaum which will house a large number of the machines imported from Belgium. The Directors appreciate the efforts put in by the Project Team and all the employees tasked with the dismantling, import and installation and commissioning of the plant and machinery. The Company can now boast of a state of the art facility. This plant, when complete, will surely help in attracting new businesses and also take the Company to the next level of technological competence.
The Company has taken steps to venture into the Defence and Aerospace businesses and is confident that these businesses will grow substantially in the years to come. The new facilities coming up in the SEZ in Belgaum will play a substantial part in the growth of these businesses.
The Company continues to be in sound financial health and is eagerly looking forward to increasing its business in the years to come.
UNSECURED LOAN
|
SECURED LOANS |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
304.750 |
0.000 |
|
Total |
304.750 |
0.000 |
INDEX OF CAHREGS:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C02951028 |
10488714 |
Citi Bank N.A. |
12/03/2014 |
- |
- |
240000000.0 |
CITI BANK N.APLOT NO.C-54, C-55, G-BLOCK, BKC, BANDRA (E), MUMBAI-400051, MAHARASHTRA,INDIA |
|
2 |
B73306490 |
10420116 |
HDFC BANK LIMITED |
15/03/2013 |
- |
- |
150000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL W MUMBAI-400013, MAHARASHTRA,INDIA |
|
3 |
B56246804 |
10250293 |
25/11/2010 |
21/08/2012 |
- |
60000000.0 |
ONYX TOWER,1ST FLOOR, NEAR WESTIN HOTEL,NORTH MAIN ROAD, KOREGAON PARK, PUNE-411001, MAHARASHTRA,INDIA |
|
|
4 |
C00279646 |
90088879 |
CITIBANK N. A. |
17/12/2004 |
20/03/2014 |
- |
150000000.0 |
FIRST INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR,PLOT NO.C-54, C-55, G-BLOCK, BKC, BANDRA (E),MUMBAI-400051, MAHARASHTRA,INDIA |
|
5 |
G50128529 |
10296879 |
State Bank of India |
01/07/2011 |
- |
13/07/2017 |
200000000.0 |
INDUSTRIAL FINANCE BRANCH, TARA CHAMBERSMUMBAI-PUNE ROAD, WAKADEWADI PUNE-411003, MAHARASHTRA,INDIA |
|
6 |
G50166339 |
10281254 |
State Bank of India |
31/03/2011 |
01/07/2011 |
13/07/2017 |
202000000.0 |
INDUSTRIAL FINANCE BRANCH, TARA CHAMBERSMUMBAI-PUNE ROAD, WAKADEWADI PUNE-411003, MAHARASHTRA,INDIA |
|
7 |
C61813796 |
10221798 |
Standard Chartered Bank |
18/05/2010 |
06/01/2011 |
24/07/2015 |
56250000.0 |
90, M G ROAD,FORT MUMBAI-400001, MAHARASHTRA,INDIA |
|
8 |
C61907135 |
10086674 |
Standard Chartered Bank |
12/02/2008 |
30/01/2012 |
24/07/2015 |
150000000.0 |
90 M G ROAD FORT
MUMBAI-400001, MAHARASHTRA,INDIA |
|
9 |
C61906186 |
10264112 |
Standard Chartered Bank |
24/01/2011 |
17/08/2011 |
24/07/2015 |
90740000.0 |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39G BLOCK, BANDRA KURLA COMPLEX, BANDRA MUMBAI-400051, MAHARASHTRA,INDIA |
|
10 |
C00961813 |
10102025 |
Standard Chartered Bank |
09/05/2008 |
- |
27/03/2014 |
61440000.0 |
90, M G ROAD,FORT MUMBAI-400001, MAHARASHTRA,INDIA |
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipment’s
· Other Equipment’s
v
Intangible
Assets
· Computer Software
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 63.39 |
|
|
1 |
INR 85.74 |
|
Euro |
1 |
INR 76.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
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.