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MIRA INFORM REPORT
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Report No. : |
485377 |
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Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
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Name : |
RANE TRW STEERING SYSTEMS PRIVATE LIMITED (w.e.f. 12.03.2015) |
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Formerly Known
As : |
RANE
POWER STEERING LIMITED |
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Registered
Office : |
Maithri 132, Cathedral Road, Chennai-600086, Tamilnadu |
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Tel. No.: |
91-44-28112472 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
03.07.1987 |
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Com. Reg. No.: |
18-014600 |
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Capital
Investment / Paid-up Capital : |
INR 87.400 Million |
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CIN No.: [Company Identification
No.] |
U35999TN1987PTC014600 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AAACR3147C |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the manufacturing and marketing of auto components for transportation industry such as power steering gear, hydraulic power, seat belts and airbags. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 7686000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between “TRW Automotive JV LLC’ based in
USA and Rane Holdings Limited” which is a flagship company of Rane Group. It was incorporated in the year 1987 and it is engaged in the
manufacturing and marketing of auto components for transportation industry
such as power steering gear, hydraulic power, seat belts and airbags. As per financials of March 2017, the company has registered a growth
of 21.25% in its revenue as compared to previous year’s revenue and has
reported decent profit margin of 5.52% under review. Rating takes into consideration the company’s long established track
record of business operations marked by healthy networth base along with
strong debt coverage indicators and good liquidity position. Rating also takes into account its strong financial and managerial
support received from its joint venture entity and well established
management team. Further, the company has reported good earnings per share of INR 54.68
against its face value of INR 10. Payments are reported to be regular. In view of aforesaid, the company can be considered good 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 |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Long term rating = AA- |
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Rating Explanation |
High degree of safety and very low credit
risk |
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Date |
28.10.2016 |
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Rating Agency Name |
ICRA |
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Rating |
Short term rating = A1+ |
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Rating Explanation |
Very strong degree of safety and very lowest
credit risk |
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Date |
28.10.2016 |
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 15.01.2018.
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
MANAGEMENT NON-COOPERATIVE (Tel. No.:
91-44-28112472 / 24994390)
LOCATIONS
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Registered Office : |
Maithri 132, Cathedral Road, Chennai-600086, Tamilnadu, India |
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Tel. No.: |
91-44-28112472 / 73 / 24994390 |
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Fax No.: |
91-44-28112449 |
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E-Mail : |
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Website : |
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Head Office : |
45, T. T. K Road, Alwarpet, Chennai - 600018, Tamilnadu, India |
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Tel. No.: |
91-44-43949200 |
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Fax No.: |
91-44-24994409 |
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Factory 1 : |
Boothakudi Village Vlralimalai Pudukkottai District - 621316,
Tamilnadu, India |
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E-Mail : |
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Factory 2: |
38th KM Stone, G.S.T Road, Vallanchery Village,
Guduvanchery – 603202, Tamilnadu, India |
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Tel. No.: |
91-44-47407202 / 47407320 |
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E-Mail : |
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Factory 3: |
Occupant Safety
Division 48th K.M., NH 45, GST Road, Singaperumal Koil, Kanchipuram-603204, Tamilnadu, India |
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Tel. No.: |
91-44-47407800 / 47407850 |
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Fax No.: |
91-44-47407899 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
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Name : |
Harish Lakshman |
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Designation : |
Managing Director |
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Address : |
G-B No. 11, Prithvi Avenue, 2nd Street, Chennai-600018, Tamilnadu, India |
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Date of Birth/Age : |
12.02.1974 |
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Qualification : |
BE, MSM (Purdue University, USA) |
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Date of Appointment : |
01.06.2006 |
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DIN No.: |
00012602 |
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Other Directorship:
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Name : |
Alexander Heilig |
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Designation : |
Director |
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Address : |
Flat No 10 and 11, 4th Floor, Precious Gem Society Lane No 6, North Main Road, Koregaon Park, Pune-411001, Maharashtra, India |
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Date of Birth/Age : |
09.04.1968 |
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Qualification : |
Diploma Degree in Mechanical Engineering – Fachhochschule Esslingen Germany 1994 |
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Date of Appointment : |
25.03.2011 |
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DIN No.: |
03496011 |
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Other Directorship:
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Name : |
Saurabh Mall |
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Designation : |
Director |
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Address : |
48348 Binghampton Drive, Northville Michigan 48168 US |
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Date of Birth/Age : |
19.01.1966 |
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Qualification : |
Bsc, M.B.A |
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Date of Appointment : |
24.03.2015 |
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DIN No.: |
07127832 |
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Other Directorship:
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Name : |
Ganesh Lakshminarayan |
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Designation : |
Nominee Director |
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Address : |
Lakshmi Nivas, Plot No. 14C, Boat Club Road, Chennai-600028, Tamilnadu, India |
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Date of Birth/Age : |
18.03.1954 |
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Qualification : |
B.Com, ACA, MBA |
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Date of Appointment : |
03.07.1987 |
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DIN No.: |
00012583 |
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Other Directorship:
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Name : |
Michael Robert Buchsner |
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Designation : |
Nominee Director |
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Address : |
Untere Schlobstrabe 46 73553 Alfdorf 73553 DE |
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Date of Appointment : |
25.04.2017 |
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DIN No.: |
07214952 |
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Other Directorship:
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Name : |
Kevin Fredrick Angelone |
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Designation : |
Nominee Director |
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Address : |
16 Grapevine Ct, West Lafayette Indiana 47906 US |
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Date of Birth/Age : |
05.07.1971 |
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Qualification : |
MBA, B.S., Aerospace Engineering |
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Date of Appointment : |
20.07.2016 |
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DIN No.: |
07491437 |
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Name : |
Lakshman Lakshminarayan |
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Designation : |
Nominee Director |
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Address : |
Sharanalaya, G-B, No 11, Prithvi Avenue, 2nd Street, Chennai-600018, Tamilnadu, India |
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Date of Birth/Age : |
17.07.1946 |
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Qualification : |
B.E. Executive MBA, London Business School |
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Date of Appointment : |
03.07.1987 |
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DIN No.: |
00012554 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Gnanasambandam B |
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Designation : |
Company Secretary |
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Address : |
Block 2/4E, Orchid Ceebros Apartment, 263/33 Velachery Main Road, Chennai- 600042, Tamilnadu, India |
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Date of Birth/Age : |
05.05.1997 |
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Qualification : |
C.A, C.S, C.W.A |
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Date of Appointment : |
01.12.2011 |
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PAN No.: |
AFBPG5183N |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
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Names of Shareholders |
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No. of Shares |
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TRW Automotive JV LLC, United States of America |
|
4369123 |
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Rane Holdings Limited, India |
|
4369118 |
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Lakshman Lakshminarayan * |
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1 |
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Ganesh Lakshminarayan |
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1 |
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Harish Lakshman * |
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1 |
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Siva Chandrasekaran * |
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1 |
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J Ananth * |
|
1 |
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Total |
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8738246 |
*1 share each held as nominees of Rane Holdings Limited
AS ON 22.08.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Bodies corporate |
99.99994278 |
|
Promoters - Others (Nominees of Rane Holdings
Limited) |
0.00005722 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in the manufacturing and marketing of auto components for transportation industry such as power steering gear, hydraulic power, seat belts and airbags. [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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
Note 1. HDFC and Citi Bank loan is secured by first charge on stocks and book debts on a pari passu basis. 2. Cash Credit and working capital demand loans from HDFC Bank Limited carried an interest rate of 9.1% p.a and Cash Credit Facilities from Citi Bank carried an interest rate of @ 9% p.a. 3. Packing credit from HDFC Bank Ltd carried an interest
rate of @ 5% p.a and Buyers Credit carried an average interest rate of 1.5%
p.a. |
|
Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
ASV N Ramanas Tower 52, Venkatnarayana Road, T Nagar, Chennai-600017, Tamilnadu, India |
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PAN No.: |
AACFD3771D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Joint Venture : |
CIN No.: L35999TN1936PLC002202
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Rane Foundation, India |
CAPITAL STRUCTURE
AS ON 22.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
INR 10/- each |
INR 90.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8804000 |
Equity Shares |
INR 10/- each |
INR 88.040 Million |
|
|
|
|
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Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8738246 |
Equity Shares |
INR 10/- each |
INR 87.382 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 |
87.400 |
87.400 |
87.400 |
|
(b) Reserves &
Surplus |
2602.600 |
2230.000 |
2081.500 |
|
(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) |
2690.000 |
2317.400 |
2168.900 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
89.900 |
38.900 |
28.400 |
|
(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) |
89.900 |
38.900 |
28.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
768.200 |
448.100 |
426.700 |
|
(b) Trade payables |
1104.600 |
794.000 |
613.900 |
|
(c) Other current
liabilities |
340.600 |
321.000 |
235.600 |
|
(d) Short-term provisions |
132.400 |
255.000 |
225.100 |
|
Total Current Liabilities
(4) |
2345.800 |
1818.100 |
1501.300 |
|
|
|
|
|
|
TOTAL |
5125.700 |
4174.400 |
3698.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1989.400 |
1678.400 |
1540.500 |
|
(ii) Intangible Assets |
10.400 |
19.200 |
10.700 |
|
(iii) Capital
work-in-progress |
108.700 |
124.800 |
80.000 |
|
(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 |
0.000 |
|
(d) Long-term Loan and Advances |
138.700 |
115.000 |
151.800 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2247.200 |
1937.400 |
1783.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
20.000 |
|
(b) Inventories |
960.200 |
792.800 |
632.700 |
|
(c) Trade receivables |
1561.700 |
1200.600 |
1037.500 |
|
(d) Cash and cash
equivalents |
27.400 |
19.400 |
19.600 |
|
(e) Short-term loans and
advances |
326.100 |
221.900 |
204.500 |
|
(f) Other current assets |
3.100 |
2.300 |
1.300 |
|
Total Current Assets |
2878.500 |
2237.000 |
1915.600 |
|
|
|
|
|
|
TOTAL |
5125.700 |
4174.400 |
3698.600 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
8652.600 |
7136.400 |
6349.300 |
|
|
Other Income |
22.900 |
23.300 |
39.800 |
|
|
TOTAL |
8675.500 |
7159.700 |
6389.100 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5124.500 |
4131.800 |
3667.900 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(16.500) |
(30.500) |
3.400 |
|
|
Employees benefits
expense |
874.700 |
768.900 |
663.400 |
|
|
CSR expenditure |
7.400 |
7.500 |
8.400 |
|
|
Exceptional items |
4.800 |
20.700 |
9.200 |
|
|
Other expenses |
1641.300 |
1445.500 |
1344.700 |
|
|
TOTAL |
7636.200 |
6343.900 |
5697.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1039.300 |
815.800 |
692.100 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
23.200 |
20.700 |
31.700 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1016.100 |
795.100 |
660.400 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
320.700 |
279.500 |
259.900 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
695.400 |
515.600 |
400.500 |
|
|
|
|
|
|
|
Less |
TAX |
217.600 |
156.700 |
116.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
477.800 |
358.900 |
284.300 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
210.200 |
210.300 |
559.300 |
|
|
|
|
|
|
|
Add |
Other deductions to
reserves |
0.000 |
0.000 |
(29.800) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim equity |
87.400 |
87.400 |
87.400 |
|
|
Final equity dividend |
0.000 |
87.400 |
87.400 |
|
|
Equity dividend tax |
17.800 |
35.600 |
35.300 |
|
|
Transfer to general
reserve |
0.000 |
148.600 |
393.400 |
|
|
Total |
105.200 |
359.000 |
603.500 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
582.800 |
210.200 |
210.300 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
478.100 |
31.300 |
160.400 |
|
|
TOTAL EARNINGS |
478.100 |
31.300 |
160.400 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2045.300 |
1733.300 |
1490.500 |
|
|
Capital Goods |
135.200 |
113.300 |
87.400 |
|
|
TOTAL IMPORTS |
2180.500 |
1846.600 |
1577.900 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
54.68 |
41.07 |
32.53 |
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 |
|
Net cash flows from (used in) operations |
691.900 |
729.500 |
606.800 |
|
Net cash flows from (used in) operating activities |
512.200 |
583.400 |
477.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
65.88 |
61.41 |
59.64 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
5.54 |
5.94 |
6.12 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
78.68 |
70.14 |
61.09 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.08 |
1.03 |
1.09 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.49 |
0.45 |
0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.46 |
0.44 |
0.41 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.29 |
0.19 |
0.20 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.87 |
0.78 |
0.69 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.78 |
0.79 |
0.75 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
44.80 |
39.41 |
21.83 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
5.52 |
5.03 |
4.48 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
9.32 |
8.60 |
7.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.76 |
15.49 |
13.11 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.23 |
1.23 |
1.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.82 |
0.79 |
0.85 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.52 |
0.56 |
0.59 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.79 |
5.13 |
4.88 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.23 |
1.23 |
1.28 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
87.400 |
87.400 |
87.400 |
|
Reserves & Surplus |
2081.500 |
2230.000 |
2602.600 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2168.900 |
2317.400 |
2690.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
426.700 |
448.100 |
768.200 |
|
Total borrowings |
426.700 |
448.100 |
768.200 |
|
Debt/Equity ratio |
0.197 |
0.193 |
0.286 |
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 |
6349.300 |
7136.400 |
8652.600 |
|
|
|
12.397 |
21.246 |
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 |
6349.300 |
7136.400 |
8652.600 |
|
Profit |
284.300 |
358.900 |
477.800 |
|
|
4.48% |
5.03% |
5.52% |
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 |
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 |
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 |
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 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G47723069 |
100107846 |
State Bank of India |
08/06/2017 |
- |
- |
900000000.0 |
Industrial Finance Branch,155, Anna Salai, Chennai-600002, Tamilnadu, India |
|
2 |
B86410362 |
10187318 |
Citi Bank N.A. |
20/11/2009 |
23/08/2013 |
- |
200000000.0 |
No.2 Club House Road, Anna Salai, Chennai-600002, Tamilnadu, India |
|
3 |
G32051302 |
80063980 |
HDFC BANK LIMITED |
28/10/2002 |
03/08/2016 |
- |
650000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
4 |
Y10410514 |
90287587 |
FORD INDIA LTD. |
01/10/1999 |
- |
- |
2830000.0 |
S. P. Koil, Chenglepet-603204, Tamilnadu, India |
|
5 |
C45374758 |
90287219 |
State Bank of India |
27/11/1989 |
15/07/1994 |
24/02/2015 |
24000000.0 |
Industrial Finance Branch 103, Anna Salai, Madras-600002, Tamilnadu, India |
|
6 |
C33278284 |
10316456 |
YES BANK LIMITED |
21/10/2011 |
18/02/2013 |
05/11/2014 |
200000000.0 |
9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India |
|
7 |
B24007445 |
90287419 |
ICICI BANKING CORPORATION LTD. |
21/05/1996 |
- |
13/10/2011 |
14300000.0 |
No. 1 Cenotaph Road, Madras-600018, Tamilnadu, India |
|
8 |
B24006892 |
90287324 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORP. OF INDIA LTD. |
31/10/1994 |
- |
13/10/2011 |
75000000.0 |
163, Backbay Reclamation, Mumbai-400020, Maharashtra, India |
|
9 |
B24006413 |
90287338 |
ICICI BANKING CORPORATION LTD. |
10/01/1995 |
01/10/2001 |
13/10/2011 |
30000000.0 |
Teynampet, Madras-600018, Tamilnadu, India |
|
10 |
B24005852 |
90287379 |
ICICI BANKING CORPORATION LTD. |
14/09/1995 |
- |
13/10/2011 |
20000000.0 |
No. 1, Cenotaph Road, Madras-600018, Tamilnadu, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Other money for which company is contingently liable |
458.000 |
409.600 |
|
Total |
458.000 |
409.600 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Office equipment
- Computer
- Vehicles
Intangible Asset:
· Computer software
- Recipes, formulae, models, designs and prototypes
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 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
INFORMATION DETAILS
|
Information Gathered
by : |
SAV |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
BHG |
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.