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|
|
MIRA
INFORM REPORT
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Report No. : |
496580 |
|
Report Date : |
19.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
RENATA PRECISION COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
J 526, MIDC Bhosari, Pune – 411026, Maharashtra |
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Tel. No.: |
91-20-66114920 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.04.2006 |
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Com. Reg. No.: |
11-128359 |
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Capital
Investment / Paid-up Capital : |
INR 22.500 Million |
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CIN No.: [Company Identification
No.] |
U29299PN2006PTC128359 |
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IEC No.: |
3107003760 |
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GST No.: |
27AADCR3007N1ZA |
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TIN No.: |
27840598752 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AADCR3007N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Plastic Moulded Components,
Metal Stamped Components, etc. [Registered Activity and also Confirmed by
Management] |
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No. of Employees
: |
185 [Approximately] |
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 |
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Maximum Credit Limit : |
USD 386200 |
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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 : |
Subject was incorporated in the year 2006. It is a manufacturer and
exporter of plastic moulded components, metal stamped components, etc. As per the financial records of 2017, the company has gained 25.12%
growth in its revenue as compared to the previous year’s revenue and has
earned a fair net profit margin of 8.16%. The company possesses satisfactory financial position marked by above
average networth base along with average debt coverage indicator and
comfortable liquidity parameters. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
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 19.03.2018.
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 PARTED BY
|
Name : |
Mr. Rohit Shrichand Thawani |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9822090935 |
|
Date : |
16.03.2018 |
LOCATIONS
|
Registered Office/ Factory 1 : |
J 526, MIDC Bhosari, Pune – 411026, Maharashtra, India |
|
Tel. No.: |
91-20-66114920 |
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Mobile No.: |
91-9822090935 [Mr. Rohit Shrichand Thawani] |
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Fax No.: |
91-20-66114921 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Commercial |
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Factory 2 : |
Gat No. 754, A/P Karandi, Taluka Shirur, District Pune – 412208, Maharashtra,
India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Rohit Shrichand Thawani |
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Designation : |
Managing Director |
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Address : |
D-31, Marigold, Kalyani Nagar, Pune – 411014, Maharashtra, India |
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Date of Birth/Age : |
17.07.1965 |
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Date of Appointment : |
20.04.2006 |
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DIN No.: |
01870022 |
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Other Directorship :
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Name : |
Mrs. Namrata Rohit Thawani |
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Designation : |
Director |
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Address : |
D-31, Marigold, Phase I, Co. Operative Housing Society Limited,
Kalyani
Nagar, Pune – 411014, Maharashtra, India |
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Date of Birth/Age : |
27.09.1972 |
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Date of Appointment : |
20.04.2006 |
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DIN No.: |
01883566 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Manish |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Rohit Shrichand Thawani |
2209000 |
98.18 |
|
Namrata Rohit Thawani |
41000 |
1.82 |
|
|
|
|
|
Total |
2250000 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
100.00 |
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|
|
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Plastic Moulded Components,
Metal Stamped Components, etc. [Registered Activity and also Confirmed by
Management] |
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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 : |
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Products : |
Finished goods |
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Countries : |
· Poland · France · Canada · Indonesia · UK |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Japan · Malaysia · European Countries |
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Terms : |
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Selling : |
Cash, Cheque and Credit [30 Days] |
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Purchasing : |
Cash, Cheque and Credit [30 Days] |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
· Bajaj · Hager · Epcos · Magna · Vishay · Brembo |
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No. of Employees : |
185 [Approximately] |
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Bankers : |
· Small Industries Development Bank of India Suryakiran Hotel Building, 1st Floor, C-8, Mumbai Pune Road, Chinchwad, Pune-411019, Maharashtra, India ·
HDFC Bank Limited ·
Bank of Baroda SPL. SSI Pimpri, Khoja
Building, Opposite KSB Pumps, Pimpri, Pune-411018, Maharashtra, India |
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Facilities : |
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Financial Institution : |
· Volkswagen Finance Private Limited 3rd Floor, Wing - A, Silver Utopia Cardinal Gracious Road,
Chakala, Andheri, Mumbai-400099, Maharashtra, India |
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Auditors : |
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|
Name : |
SPSR and Associates Chartered Accountants |
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Address : |
2, Pramukh Park Apts., 1144, Shukrawar Peth, Sathey Colony, Pune-411002, Maharashtra, India |
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Tel. No.: |
91-20-24479238 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFP0726K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associate Enterprise : |
Renata Lighting Private Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2250000 |
Equity Shares |
INR 10/- each |
INR 22.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
22.500 |
22.500 |
22.500 |
|
(b) Reserves & Surplus |
112.691 |
67.218 |
54.316 |
|
(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) |
135.191 |
89.718 |
76.816 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
150.367 |
124.208 |
103.709 |
|
(b) Deferred tax liabilities (Net) |
4.170 |
2.737 |
1.722 |
|
(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) |
154.537 |
126.945 |
105.431 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
98.592 |
79.289 |
69.853 |
|
(b)
Trade payables |
64.221 |
65.750 |
48.603 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Short-term provisions |
26.212 |
15.250 |
13.644 |
|
Total
Current Liabilities (4) |
189.025 |
160.289 |
132.100 |
|
|
|
|
|
|
TOTAL |
478.753 |
376.952 |
314.347 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
223.860 |
194.688 |
165.679 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
223.860 |
194.688 |
165.679 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
102.433 |
83.781 |
94.775 |
|
(c)
Trade receivables |
125.556 |
69.794 |
26.345 |
|
(d)
Cash and cash equivalents |
2.779 |
2.162 |
1.339 |
|
(e)
Short-term loans and advances |
13.383 |
14.373 |
13.034 |
|
(f)
Other current assets |
10.742 |
12.154 |
13.175 |
|
Total
Current Assets |
254.893 |
182.264 |
148.668 |
|
|
|
|
|
|
TOTAL |
478.753 |
376.952 |
314.347 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
639.997 |
511.517 |
425.709 |
|
|
|
Other Income |
0.597 |
0.546 |
0.841 |
|
|
|
TOTAL |
640.594 |
512.063 |
426.550 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
331.671 |
260.005 |
252.490 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(18.781) |
13.544 |
(19.408) |
|
|
|
Employees benefits expense |
99.380 |
79.279 |
59.640 |
|
|
|
Other Administrative expenses |
78.450 |
64.181 |
50.884 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
1.549 |
|
|
|
Sale of Fixed
Assets |
0.000 |
(0.018) |
(0.098) |
|
|
|
TOTAL |
490.720 |
416.991 |
345.057 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
149.874 |
95.072 |
81.493 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
30.027 |
27.524 |
23.275 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
119.847 |
67.548 |
58.218 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
41.358 |
37.662 |
24.745 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
78.489 |
29.886 |
33.473 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.246 |
10.214 |
11.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
52.243 |
19.672 |
21.761 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Value of Export |
121.423 |
83.658 |
57.407 |
|
|
|
|
|
|
|
|
|
IMPORTS OF CIF
VALUE |
|
|
|
|
|
|
|
Purchase |
42.722 |
37.411 |
41.466 |
|
|
|
Capital Goods |
45.170 |
37.451 |
41.166 |
|
|
TOTAL IMPORTS |
87.892 |
74.862 |
82.632 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
23.22 |
8.74 |
9.67 |
|
Expected Sales (2017-2018): INR 680.000 Million [Due to Business Growth]
The above information has been parted by Mr. Rohit Shrichand Thawani [Managing
Director]
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
111.744 |
88.403 |
98.529 |
|
|
|
|
|
|
Net Cash from Operating Activities |
78.562 |
79.244 |
84.615 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
71.61 |
49.80 |
22.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.10 |
7.33 |
16.16 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
70.67 |
92.30 |
70.26 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.46 |
1.13 |
0.86 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.67 |
0.49 |
0.49 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.71 |
0.75 |
0.75 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.84 |
2.27 |
2.26 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.40 |
1.79 |
1.72 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.66 |
2.17 |
2.16 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.99 |
3.45 |
3.50 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
8.16 |
3.85 |
5.11 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
10.91 |
5.22 |
6.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
38.64 |
21.93 |
28.33 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.35 |
1.14 |
1.13 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.81 |
0.61 |
0.41 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.28 |
0.24 |
0.24 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
11.06 |
9.04 |
7.71 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.35 |
1.14 |
1.13 |
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 |
22.500 |
22.500 |
22.500 |
|
Reserves & Surplus |
54.316 |
67.218 |
112.691 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
76.816 |
89.718 |
135.191 |
|
|
|
|
|
|
long-term borrowings |
103.709 |
124.208 |
150.367 |
|
Short term borrowings |
69.853 |
79.289 |
98.592 |
|
Total
borrowings |
173.562 |
203.497 |
248.959 |
|
Debt/Equity
ratio |
2.259 |
2.268 |
1.842 |
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 |
425.709 |
511.517 |
639.997 |
|
|
|
20.156 |
25.117 |
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 |
425.709 |
511.517 |
639.997 |
|
Profit/ (Loss) |
21.761 |
19.672 |
52.243 |
|
|
5.11% |
3.85% |
8.16% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G71591531 |
100142625 |
VOLKSWAGEN FINANCE PRIVATE LIMITED |
27/06/2017 |
- |
- |
499000.0 |
3rd Floor, Wing - A, Silver UtopiaCardinal Gracious Road, Chakala, AndheriMumbaiMa400099IN |
|
2 |
G70578257 |
100140833 |
HDFC BANK LIMITED |
07/04/2017 |
- |
- |
900000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (WEST)MUMBAIMH400013IN |
|
3 |
G70579602 |
100140839 |
HDFC BANK LIMITED |
07/04/2017 |
- |
- |
900000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (WEST)MUMBAIMH400013IN |
|
4 |
C41795006 |
10545849 |
HDFC BANK LIMITED |
30/04/2014 |
- |
- |
1290000.0 |
HDFC Bank House, Senapati Bapat Marg,Lower Parel (West)MumbaiMH400013IN |
|
5 |
G46407904 |
10114709 |
Axis Bank Limited |
04/07/2008 |
23/05/2017 |
- |
412000000.0 |
Corporate Banking Branch, 214-215, City Mall,Near Pune University, Ganeshkhind RoadPuneMH411007IN |
|
6 |
G20815650 |
10077424 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
25/10/2007 |
- |
07/11/2016 |
9975000.0 |
SURYAKIRAN HOTEL BUILDING, 1ST FLOOR, C-8MUMBAI PUNE ROAD, CHINCHWADPUNEMH411019IN |
|
7 |
A73909699 |
10104435 |
BANK OF BARODA |
12/03/2008 |
- |
06/11/2009 |
32000000.0 |
SPL. SSI PIMPRI, KHOJA BLDG.,OPP. KSB PUMPS, PIMPRI,PUNEMH411018IN |
BUSINESS
OPERATIONS OF THE COMPANY AND THE STATE OF COMPANY’S AFFAIRS:
PERFORMANCE:
During the financial year 2016-17, the revenue from operations has been increased by 25.12% as against 20% in the previous year. Net profit stood at 8.16% as against 3.85% in the previous year.
Share of components sales to the Automotive Sector has increased from 63% to 74%.
ACHIEVEMENTS:
During the year under report the Company has acquired Jaguar Land Rover as a customer. This raises our profile with Automotive OEMs and Tier Is.
AWARDS:
· Rieter presented out Company a "Best Quality" award at their Vendor meet in April 17.
· Keihin presented our Company the "Best Supplier of the Year" award at their Vendor meet in April 17.
STAMPING CAPABILITY
AND CAPACITY:
In the month of October, 2016,
a 25T Bruderer was commissioned. This makes the transition from
"Taiwan" level machine to Best in Class machine. This investment in
improving our Stamping Capability will give good returns in the years ahead.
MOULDING CAPABILITY
AND CAPACITY:
Insert Moulding capacity was significantly increased from 3 machines to 5 machines. The old Windsor 2k machine was retired keeping their strategy of having good moulds running on good machines.
Total machines grew from 26 to 28.
TOOLING CAPABILITY AND
CAPACITY:
A new EDM machine
along with a new Wire EDM machine, both form Sodick were added. The EDM machine
enhances capacity while the Wire EDM machine enhances both capacity and
capability. A new Makino VMC with higher capabilities has been ordered. Focus
will be on reducing the development lead time and increasing the output.
FUTURE OUTLOOK:
Sales are forecasted to grow in by 21% - 23% marking the third consecutive year with 20% plus growth.
The quantum jump in Free Cash from INR 30.000 Million level
to INR 60.000 Million level is sustainable over the next year. This is very
significant as our financial ability to fund 
future growth plans has risen to
another level.
APART FROM CAPACITY
ENHANCEMENT, THERE ARE OPPORTUNITIES IN:
1) Medium sized components:
Considenng the enquiries by the Customers to supply medium
size technical components (200T 400T) a decision was taken to broaden our
portfolio from the < 
200T segnent by ordering a 400T 2k
machine and thereby entering the 200T-400T segment.
Due to the lead time in business acquisition and component development the 400T 2k machine will be under-utilized for several months.. Therefore, the results of this decision will be seen in a couple of years.
2) New Competency:
Reel-to-Reel moulding is a
potential growth driver that needs to be evaluated.
3) Geographic
expansion —
New plant at Sanand:
Sanand, Gujarat has emerged as India's fourth Auto hub. The
Suzuki plant Will go 
into production during 2017-18. This will
attract Tier Is to locate in Gujarat. At present, there is no significant
presence Of Tier 2 moulding companies. This creates 
opportunity for Renata as a Tier 2
supplier.
New plant in Eastern
Europe:
While a plant at Sanand presents a realistic opportunity, the Sanand area would have a capacity of around 1.0 million cars. East Europe already has output in excess of 3 million. Their recently acquired customer, Jagaur Land Rover will set up a new plant in Slovakia going into production in late 2018. Is there opportunity for the Company to follow JLR into Slovakia? Their study of this opportunity has started.
4) Stamping:
The Company has already built some capability in Progressive Stamping. They are
exploring going deeper with this technology to exploit the opportunities.
Rather than do this by ourselves, Company is considering a Joint Venture for
Stamping activity. A new plant will be required for Company's Stamping
activity,
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from J 256, MIDC
Bhosari, Pune – 411026, Maharashtra, India to the present address w.e.f
01.08.2009
FIXED ASSETS:
· Building and Shed
· Land Scrape
· Cars and Motor Cycles
· Computer
· Furniture and Fixture
· Plant and Machinery
· Land
· Modules
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records 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 64.87 |
|
UK Pound |
1 |
INR 90.49 |
|
Euro |
1 |
INR 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
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 |
YES |
|
--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.