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|
|
MIRA INFORM REPORT
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Report No. : |
499455 |
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Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
ASK AUTOMOTIVE PRIVATE LIMITED |
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|
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Registered
Office : |
Flat No.104, 929/1, Naiwala, Faiz Road, Karol Bagh, New Delhi-110005 |
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Tel. No.: |
91-11-28758433 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2017 |
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|
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Date of
Incorporation : |
18.01.1988 |
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|
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Com. Reg. No.: |
55-030342 |
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|
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Capital
Investment / Paid-up Capital : |
INR 4.235 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U34300DL1988PTC030342 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0588145033 |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACA7205Q |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Friction Material components and Pressure
Die Casted, Machined and Painted Components for Automobile Industry. [Registered Activity] |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 11000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of ASK group incorporated in the year 1988 and it is a manufacturer of automobile parts, accessories, implements, components and tools. As per financials of March 2017, the company has registered a growth of 14.04% in its revenue as compared to its previous year’s revenue and has reported decent profit margin of 5.17% under review. Rating takes into consideration the company’s established track record of business operations marked by healthy financial risk profile along with strong debt coverage indicators and good liquidity position. Rating also takes into account the leading market position in the two-wheeler friction-material friction and sustained growth in the aluminium pressure die-casting segment. Rating continues to derive strength from group's established relationship with key two-wheeler OEMs along with continued diversification into new products and established market position. Further, the company has reported a healthy earnings per share of INR 12,333.74 against its face value of INR 100. However, rating strength is partially offset by customer and end-user industry concentration in the revenue. Payments seems to be regular as per commitments. In view of aforesaid, the company can be considered good for business dealings at normal trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
20.01.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating A+ |
|
Rating Explanation |
Very Strong degree of safety and carry
lowest credit risk |
|
Date |
20.01.2017 |
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 23.03.2018.
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.
LOCATIONS
|
Registered Office : |
Flat No.104, 929/1, Naiwala, Faiz Road, Karol Bagh, New Delhi-110005,
India |
|
Tel. No.: |
91-11-28758433 |
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Fax No.: |
Not Available |
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E-Mail : |
|
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Website : |
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Factory 1: |
Plot No. 66 and 67, Udyog Vihar,
Phase I, Gurugram - 122016, Haryana,
India |
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Factory 2: |
Plot No. 30-31, Fathepur-
Nawada, Manesar, Gurugram - 122050, Haryana, India |
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Factory 3: |
Plot No. 28, Sector -IV, IMT Manesar, District Gurugram - 122050, Haryana, India |
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Tel. No.: |
91-124-4659300/301 |
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Fax No.: |
91-124-4659388 |
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Manufacturing Facilities: |
Located at ·
Karnataka ·
Gujarat ·
Uttarakhand |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Kuldip Singh Rathee |
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Designation : |
Managing director |
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Address : |
Farm No.82, Road No.4, Silver Oak Marg, Ghitorni, New
Delhi-110030, India |
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Date of Birth/Age : |
28.08.1954 |
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Qualification: |
Graduate
in Economics (Hons) |
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Date of Appointment : |
18.01.1988 |
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PAN No.: |
ABQPR9407H |
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DIN No.: |
00041032 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Vijay Rathee |
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Designation : |
Director |
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|
Address : |
Farm No.82, Road No.4, Silver Oak Marg, Ghitorni, New
Delhi-110030, India |
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Date of Birth/Age : |
14.09.1953 |
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Qualification: |
M.
Sc. |
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Date of Appointment : |
26.10.1995 |
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PAN No.: |
ADXPR3737M |
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DIN No.: |
00042731 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Anand Kumar Bhardwaj |
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Designation : |
Director |
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Address : |
Mastan Street, Bichla Baza,r Bhiwani – 127021, Haryana, India |
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Date of Birth/Age : |
11.11.1960 |
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Date of Appointment : |
10.07.2013 |
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DIN No.: |
06629869 |
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MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Kuldip Singh Rathee |
20902 |
49.35 |
|
Parshant
Rathee |
660 |
1.56 |
|
Aman
Rathee |
5630 |
13.29 |
|
Vijay Rathee |
15161 |
35.80 |
|
Total |
42353 |
100.00 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters – [Individual/Hindu Undivided Family – Indian] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Friction Material components and Pressure
Die Casted, Machined and Painted Components for Automobile Industry. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Satinder
Saini and Company Chartered Accountants |
|
Address : |
514,
Suneja Tower-I, District. Centre, Janakpuri, New Delhi-110058, India |
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PAN No.: |
AATPS2758Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary
Companies: |
· Vijaylaxmi Farms Private Limited, India (CIN No.: U74999DL2012PTC236529) · Aadhunik Agrotech Private Limited, India, (CIN No.: U74900DL2012PTC238141) · Planet Agro Farms Private Limited, India (CIN No.: U70200DL2012PTC243782) · Vijaylaxmi Infrabuild Private Limited, India (CIN No.: U45400DL2013PTC253148) |
|
Companies in which
Company can exercise significant influence: |
|
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
INR 100/- each |
INR 5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42353 |
Equity Shares |
INR 100/- each |
INR 4.235 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.235 |
4.235 |
4.235 |
|
(b) Reserves and Surplus |
3675.137 |
3157.038 |
2667.783 |
|
(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) |
3679.372 |
3161.273 |
2672.018 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
517.329 |
458.156 |
729.476 |
|
(b) Deferred tax liabilities (Net) |
215.426 |
177.306 |
141.374 |
|
(c) Other long-term
liabilities |
0.000 |
4.779 |
11.680 |
|
(d) long-term
provisions |
105.098 |
83.791 |
61.860 |
|
Total Non-current
Liabilities (3) |
837.853 |
724.032 |
944.390 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
585.677 |
559.989 |
343.152 |
|
(b) Trade
payables |
755.760 |
550.412 |
564.880 |
|
(c) Other
current liabilities |
734.621 |
750.254 |
548.524 |
|
(d) Short-term
provisions |
614.824 |
405.402 |
484.936 |
|
Total Current
Liabilities (4) |
2690.882 |
2266.057 |
1941.492 |
|
|
|
|
|
|
TOTAL |
7208.107 |
6151.362 |
5557.900 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3216.060 |
2997.504 |
2421.570 |
|
(ii)
Intangible Assets |
39.811 |
15.066 |
14.886 |
|
(iii) Tangible assets
capital work-in-progress |
171.945 |
87.035 |
86.801 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
219.005 |
217.105 |
217.105 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
709.659 |
639.467 |
673.129 |
|
(e) Other
Non-current assets |
3.880 |
3.880 |
3.880 |
|
Total Non-Current
Assets |
4360.360 |
3960.057 |
3417.371 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
631.756 |
551.228 |
475.492 |
|
(c) Trade
receivables |
1463.234 |
1015.303 |
982.300 |
|
(d) Cash and
bank balances |
22.341 |
19.302 |
18.779 |
|
(e)
Short-term loans and advances |
729.655 |
541.455 |
636.156 |
|
(f) Other
current assets |
0.761 |
64.017 |
27.802 |
|
Total
Current Assets |
2847.747 |
2191.305 |
2140.529 |
|
|
|
|
|
|
TOTAL |
7208.107 |
6151.362 |
5557.900 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
10022.502 |
8788.862 |
8428.879 |
|
|
Other Income |
7.540 |
5.952 |
34.605 |
|
|
TOTAL |
10030.042 |
8794.814 |
8463.484 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6035.892 |
5445.299 |
5397.396 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
838.816 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(94.991) |
(67.906) |
3.673 |
|
|
Employee benefit expense |
1487.413 |
1153.225 |
905.747 |
|
|
CSR expenditure |
1.200 |
0.000 |
0.000 |
|
|
Other expenses |
1366.311 |
1158.461 |
244.099 |
|
|
Extraordinary items before tax |
(0.071) |
16.631 |
0.000 |
|
|
TOTAL |
8795.754 |
7705.710 |
7389.731 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
1234.288 |
1089.104 |
1073.753 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
153.396 |
150.932 |
160.261 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1080.892 |
938.172 |
913.492 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
302.268 |
253.330 |
250.804 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
778.624 |
684.842 |
662.688 |
|
|
|
|
|
|
|
Less |
TAX |
260.525 |
195.588 |
201.812 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
518.099 |
489.254 |
460.876 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
232.128 |
110.176 |
46.492 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
164.818 |
126.271 |
218.194 |
|
|
Capital Goods |
61.442 |
155.233 |
0.668 |
|
|
TOTAL IMPORTS |
226.260 |
281.504 |
218.862 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12233.00 |
11552.00 |
10882.00 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
340.827 |
298.073 |
291.302 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1166.063 |
1586.792 |
834.333 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
975.591 |
1435.694 |
640.867 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
53.29 |
42.17 |
42.54 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
6.85 |
8.66 |
8.58 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
45.70 |
36.89 |
33.06 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.95 |
1.98 |
2.26 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.36 |
0.35 |
0.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.49 |
0.49 |
0.53 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.39 |
0.42 |
0.51 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.73 |
0.72 |
0.73 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.93 |
0.98 |
0.94 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
8.05 |
7.22 |
6.70 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
5.17 |
5.57 |
5.47 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
7.19 |
7.95 |
8.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
14.08 |
15.48 |
17.25 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.06 |
0.97 |
1.10 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.82 |
0.72 |
0.86 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.51 |
0.51 |
0.48 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
340.93 |
310.80 |
322.06 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.06 |
0.97 |
1.10 |
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 |
4.235 |
4.235 |
4.235 |
|
Reserves & Surplus |
2667.783 |
3157.038 |
3675.137 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2672.018 |
3161.273 |
3679.372 |
|
|
|
|
|
|
Long-term borrowings |
729.476 |
458.156 |
517.329 |
|
Short term borrowings |
343.152 |
559.989 |
585.677 |
|
Current maturities of
long-term debts |
291.302 |
298.073 |
340.827 |
|
Total
borrowings |
1363.930 |
1316.218 |
1443.833 |
|
Debt/Equity
ratio |
0.510 |
0.416 |
0.392 |
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
|
8428.879 |
8788.862 |
10022.502 |
|
|
|
4.271 |
14.036 |
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
|
8428.879 |
8788.862 |
10022.502 |
|
Profit |
460.876 |
489.254 |
518.099 |
|
|
5.47
% |
5.57
% |
5.17
% |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4.235 |
4.235 |
|
(b) Reserves and Surplus |
|
3676.916 |
3157.008 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
3681.151 |
3161.243 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
517.329 |
458.156 |
|
(b) Deferred tax liabilities (Net) |
|
215.426 |
177.306 |
|
(c) Other long-term
liabilities |
|
0.000 |
4.779 |
|
(d) long-term
provisions |
|
105.098 |
83.791 |
|
Total Non-current
Liabilities (3) |
|
837.853 |
724.032 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
585.677 |
559.989 |
|
(b) Trade
payables |
|
755.821 |
550.413 |
|
(c) Other
current liabilities |
|
735.665 |
750.345 |
|
(d) Short-term
provisions |
|
612.573 |
405.423 |
|
Total Current
Liabilities (4) |
|
2689.736 |
2266.170 |
|
|
|
|
|
|
TOTAL |
|
7208.740 |
6151.445 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
3216.060 |
2997.504 |
|
(ii)
Intangible Assets |
|
39.811 |
15.066 |
|
(iii) Tangible assets
capital work-in-progress |
|
171.945 |
87.035 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
216.705 |
216.705 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
40.009 |
35.517 |
|
(e) Other
Non-current assets |
|
3.880 |
3.880 |
|
Total Non-Current
Assets |
|
3688.410 |
3355.707 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1271.950 |
1117.921 |
|
(c) Trade receivables |
|
1463.234 |
1015.303 |
|
(d) Cash and
bank balances |
|
24.150 |
21.532 |
|
(e)
Short-term loans and advances |
|
760.235 |
576.965 |
|
(f) Other
current assets |
|
0.761 |
64.017 |
|
Total
Current Assets |
|
3520.330 |
2795.738 |
|
|
|
|
|
|
TOTAL |
|
7208.740 |
6151.445 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
10022.502 |
8788.862 |
|
|
Other Income |
|
7.540 |
6.145 |
|
|
TOTAL |
|
10030.042 |
8795.007 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
6629.034 |
5374.906 |
|
|
Purchases of
Stock-in-Trade |
|
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(735.186) |
(67.906) |
|
|
Employee benefit expense |
|
1487.413 |
1153.225 |
|
|
Other expenses |
|
1415.028 |
1228.963 |
|
|
Exceptional items before tax |
|
(0.071) |
16.631 |
|
|
TOTAL |
|
8796.218 |
7705.819 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1233.824 |
1089.188 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
153.397 |
150.932 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1080.427 |
938.256 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
302.268 |
253.330 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
778.159 |
684.926 |
|
|
|
|
|
|
|
Less |
TAX |
|
258.254 |
195.611 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
519.905 |
489.315 |
|
|
|
|
|
|
|
|
EARNINGS / (LOSS)
PER SHARE (INR) |
|
12276.00 |
11553.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
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 |
Company Overview
The company was incorporated in the year 1988. It is a leading manufacturer of Friction Material components and Pressure Die Casted, Machined and Painted Components for Automobile Industry. The company is OEM supplier to the major leading manufacturers in India like Honda, Hero Moto Corp, Bajaj, TVS, Suzuki, Yamaha, Mahindra etc. The company has manufacturing facilities in the states of Haryana, Karnataka, Gujarat and Uttarakhand. The company is the leader in Asbestos-Free brake shoe technology in India. Company has valuable technical collaborations with ASKtechnica Corporation of Japan, Safety Control Cable Ind. Co. Limited of Taiwan and Nucap Industries Inc. of Canada.
INDEX OF CHARGE:
|
SN o |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G49574171 |
100113414 |
HDFC BANK LIMITED |
18/04/2017 |
- |
- |
302500000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL (WEST) MUMBAI-400013, MAHARASHTRA, INDIA |
|
2 |
G49574312 |
100113415 |
HDFC BANK LIMITED |
18/04/2017 |
- |
- |
640000000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PAREL (WEST) MUMBAI-400013, MAHARASHTRA, INDIA |
|
3 |
C16111601 |
10508657 |
KOTAK MAHINDRA BANK LIMITED |
25/06/2014 |
14/08/2014 |
- |
400000000.0 |
7TH FLOOR, AMBADEEP BUILDING,14, K. G. MARG, CONNAUGHT PLACE, NEW DELHI-110001, INDIA |
|
4 |
C09028820 |
10484529 |
KOTAK MAHINDRA BANK LIMITED |
05/03/2014 |
30/06/2014 |
- |
350000000.0 |
7TH FLOOR, AMBADEEP BUILDING14, K. G. MARG, CONNAUGHT PLACE NEW DELHI-110001, INDIA |
|
5 |
C28397891 |
10376793 |
STANDARD CHARTERED BANK (Acting as an Security Agent |
23/08/2012 |
09/10/2014 |
- |
560000000.0 |
FOR STANDARD CHARTERED BANK, LONDON), C D UNARAIN MANZIL, 23 BARAKHAMBA ROADNEW DELHI -110001, INDIA |
|
6 |
C09024589 |
10336610 |
KOTAK MAHINDRA BANK LIMITED |
30/01/2012 |
25/06/2014 |
- |
302500000.0 |
7TH FLOOR AMBADEEP BUILDING14, K G MARG, CONNAUGHT PLACENEW DELHI-110001, INDIA |
|
7 |
A32856288 |
90062628 |
Citi Bank NA |
19/08/2002 |
09/01/2008 |
- |
162500000.0 |
JEEVAN VIHAR3 SANSAD MARG NEW DELHI-110001, INDIA |
|
8 |
G71510523 |
80051179 |
STANDARD CHARTERED BANK |
07/09/2005 |
23/06/2014 |
01/12/2017 |
170000000.0 |
CREDIT RISK CONTROLNARAIN MANZIL, 23 BARAKHAMBA ROAD NEW DELHI-110001, INDIA |
|
9 |
G71504351 |
80067506 |
Standard Chartered Bank |
07/09/2005 |
- |
01/12/2017 |
40000000.0 |
SANSAD MARGNEW DELHI-110001, INDIA |
|
10 |
G59526707 |
10451595 |
RBL BANK LIMITED |
13/09/2013 |
10/03/2016 |
12/10/2017 |
100000000.0 |
SHAHUPURI, KOLHAPUR, KOLHAPUR-416001, MAHARASHTRA, INDIA |
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
· Factory building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
Intangible assets
- Computer software
- Know-how
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 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 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
PJP |
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.