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MIRA
INFORM REPORT
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Report No. : |
499456 |
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Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
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Name : |
STUMPP SCHUELE AND SOMAPPA SPRINGS PRIVATE LIMITED (w.e.f.
06.12.2007) |
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Formerly Known
As : |
ALLEVARD SPRINGS (INDIA) PRIVATE LIMITED |
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Registered
Office : |
No.04, Bommasandra Industrial Area Attibele Hobli, Anekal
Taluka, Bangalore - 560099, Karnataka |
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Tel. No.: |
91-80-25532335 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
12.08.1996 |
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Com. Reg. No.: |
08-038742 |
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Capital
Investment / Paid-up Capital : |
INR 30.100 Million |
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CIN No.: [Company Identification
No.] |
U29299KA1996PTC038742 |
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IEC No.: [Import-Export Code No.] |
0708007457 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AALCS7347E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The business of manufacture and supply of Stabilizer bars,
all varieties of Springs, all type of automobile components, spare parts and
accessories etc. (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)
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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 1400000 |
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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 was incorporated in the year 1996 and it is manufacturer and supplier of stabilizers bars and all varieties of springs, all type of automobile components, spare parts and accessories etc. As per financials of March 2017, the company has registered a growth of 11.68% in its revenue as compared to its previous year’s and has reported average profit margin of 1.17%. Rating takes into consideration the company’s established track record of business operations marked by sound net worth base along with average debt coverage indicators and good liquidity position. Rating also takes into account the strong market position in the domestic automotive industry, its diversified product profile ranging from low precision to high precision products, the technological linkages with global players and strong research and development (R&D) capabilities. Further, the company has reported earnings per share of INR 9.68 against its face value of INR 10. However, rating strength is partially offset by cyclical nature of the auto industry which the company caters to, exposing revenues to volatility in demand while the intense competition in the industry also restricts the company’s pricing flexibility to an extent. Payments seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 = BBB |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
09.05.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Rating = A2 |
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Rating Explanation |
Strong degree of safety and low credit risk. |
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Date |
09.05.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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
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Registered Office : |
No.04, Bommasandra Industrial Area Attibele Hobli, Anekal
Taluka, Bangalore - 560099, Karnataka,
India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
139/2, Hosur Road, Koramangala, Bangalore – 560095, Karnataka, India |
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Tel. No.: |
91-80-25532335 (8 lines) |
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Fax No.: |
91-80-25530622/ 25532379 |
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E-Mail : |
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Overseas Sales Office : |
PO Box 275, New Hudson, MI 48165-0275, United States of Amercia |
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Tel. No.: |
+1 (248) 4123367 |
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Fax No.: |
+1 (248) 2645000 |
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E-Mail : |
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Regional Offices : |
Located at : · Delhi / Gurugram : Plot No.131, Roz-Ka-Meo Industrial Area, District Mewat Sohna, Haryana, India (Tel. No. : 91 124 2210821/820) · Gurugram · Pune : 91-20-5898956 / 656 · Chennai : 91-44-26810028 / 0727 · Kolkata : 91-33-4222265 |
DIRECTORS
AS ON 31.03.2017
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Name : |
Mr. Satish Ramesh Machani |
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Designation : |
Managing Director |
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Address : |
No.456, Kothanur Cross, Arekere Village, IIM Post Bangalore- 560076,
Karnataka, India |
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Date of Birth/Age : |
01.10.1971 |
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Qualification : |
BE (MS) |
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Date of Appointment : |
04.06.2009 |
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PAN No.: |
AEOPS9018L |
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DIN No.: |
00320532 |
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Other
Directorship:
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Name : |
Mr. Ramanna Gangadhar Machani |
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Designation : |
Director |
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Address : |
M. G. Brothers Automobiles Private Limited, Dargamitta, |
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Date of Birth/Age : |
18.09.1958 |
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Date of Appointment : |
04.06.2009 |
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DIN No.: |
00267779 |
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Other
Directorship:
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Name : |
Mr. Narasimhan Chakravarthi Srinivasan |
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Designation : |
Director |
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Address : |
7C, Sukhi Apartment, 17, Rhenius Street, Richmond Town, Bangalore - 560025, Karnataka, India |
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Date of Birth/Age : |
28.05.1945 |
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Qualification : |
AIME |
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Date of Appointment : |
12.08.1996 |
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PAN No.: |
AJXPS7902B |
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DIN No.: |
00471801 |
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Other
Directorship:
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Name : |
Mr. Machani Ramanna Ganganna |
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Designation : |
Director |
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Address : |
1/1400, H.B.S. Colony, Yemmiganur - 518360, Andhra Pradesh, India |
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Date of Birth/Age : |
03.02.1944 |
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Date of Appointment : |
04.06.2009 |
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DIN No.: |
02063513 |
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Other
Directorship:
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Name : |
Mr. Sudhakar Machani |
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Designation : |
Director |
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Address : |
No 404, 5th Cross, RBI Layout, 7th Phase, J P Nagar, Bangalore - 560078, Karnataka, India |
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Date of Birth/Age : |
05.08.1956 |
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Qualification : |
MBA |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
02534695 |
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Other
Directorship:
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Name : |
Mrs. Deepa Anil Kumar |
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Designation : |
Director |
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Address : |
No.456, Ramesh Nursery, Kothnur Arakere, Bannerghatta Road, Bangalore - 560076, Karnataka, India |
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Date of Birth/Age : |
03.03.1976 |
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Qualification : |
BE |
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Date of Appointment : |
06.09.2010 |
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PAN No.: |
ABGPS2479R |
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DIN No.: |
02741980 |
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Other
Directorship:
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Name : |
Mr. Ramesh Ramanna Machani |
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Designation : |
Whole-Time Director |
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Address : |
456, Kothanur Cross,, Bannergatta Road, Arekere IIM Post, Bangalore - 560076, Karnataka, India |
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Date of Birth/Age : |
15.03.1946 |
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Qualification : |
BE |
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Date of Appointment : |
04.06.2009 |
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PAN No.: |
AAXPR8906K |
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DIN No.: |
00319941 |
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Other
Directorship:
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Name : |
Mr. Ravi Ramesh Machan |
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Designation : |
Whole-Time Director |
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Address : |
456, Kothanur Cross, Arakere, IIM Post, Bannerghatta Road, Bangalore - 560076, Karnataka, India |
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Date of Birth/Age : |
08.08.1973 |
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Date of Appointment : |
06.04.2009 |
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PAN No.: |
ABEPR3804I |
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DIN No.: |
00320603 |
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Other
Directorship:
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MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
No. of Shares |
|
|
Stumpp Schuele and Somappa Private Limited, India |
|
3009990 |
|
M R Ramesh |
|
10 |
|
Total |
|
3010000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2016
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The business of manufacture and supply of Stabilizer bars,
all varieties of Springs, all type of automobile components, spare parts and
accessories etc. (Registered Activity) |
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Products / Services
: |
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||||
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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 : |
(INR
In Million)
|
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Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
Khivraj |
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Tel. No.: |
91-80-22274551 / 22274552 |
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Fax No.: |
91-80-22212437 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAASB9147R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
· Stumpp Schuele and Somappa Private Limited, India U31901KA1960PTC001378 |
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Enterprises which
are owned, have
significant influence are
partners with Key management personnel and their
relatives: |
· MG Metallic Springs Private Limited U28991AP1973PTC001666 · MGM Springs Private Limited · Machani Infra Development Corporation Private Limited U70102KA2010PTC055397 · Nippon Electronics (Nel) Private Limited U29120KA2011PTC057120 · SSS Springs and Wire · Indivillage Tech Solutions Private Limited U72900KA1995PTC020932 · Stumpp Schuele and Somappa Auto Suspension Systems Private Limited U35911KA2014PTC072972 · Automotive Component Manufacturers Association of India · Sysfore Technologies Private Limited U64202KA2004PTC033986 |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
INR 10/- each |
INR 75.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3010000 |
Equity Shares |
INR 10/- each |
INR 30.100 Million |
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|
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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 |
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(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
30.100 |
30.100 |
30.100 |
|
(b) Reserves and Surplus |
466.783 |
437.657 |
421.570 |
|
(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) |
496.883 |
467.757 |
451.670 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
260.192 |
248.273 |
186.184 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
2.256 |
2.306 |
2.762 |
|
(d) long-term
provisions |
60.981 |
52.217 |
43.051 |
|
Total Non-current
Liabilities (3) |
323.429 |
302.796 |
231.997 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
574.217 |
582.514 |
524.571 |
|
(b) Trade
payables |
441.249 |
414.797 |
368.657 |
|
(c) Other
current liabilities |
145.033 |
138.991 |
154.169 |
|
(d) Short-term
provisions |
9.623 |
7.990 |
8.183 |
|
Total Current
Liabilities (4) |
1170.122 |
1144.292 |
1055.580 |
|
|
|
|
|
|
TOTAL |
1990.434 |
1914.845 |
1739.247 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
520.035 |
463.304 |
407.093 |
|
(ii)
Intangible Assets |
0.000 |
0.473 |
0.772 |
|
(iii) Tangible assets
capital work-in-progress |
12.964 |
96.637 |
11.409 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
86.344 |
63.394 |
63.394 |
|
(c) Deferred tax assets (net) |
4.511 |
9.787 |
12.245 |
|
(d)
Long-term loans and advances |
243.630 |
179.143 |
208.583 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
867.484 |
812.738 |
703.496 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
362.246 |
333.550 |
314.206 |
|
(c) Trade
receivables |
561.154 |
564.796 |
518.104 |
|
(d) Cash and
bank balances |
118.805 |
107.577 |
98.614 |
|
(e) Short-term
loans and advances |
80.745 |
96.184 |
104.827 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1122.950 |
1102.107 |
1035.751 |
|
|
|
|
|
|
TOTAL |
1990.434 |
1914.845 |
1739.247 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2479.457 |
2220.220 |
2079.642 |
|
|
Other Income |
76.441 |
93.036 |
55.477 |
|
|
TOTAL |
2555.898 |
2313.256 |
2135.119 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1298.628 |
1134.797 |
1097.933 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6.792) |
6.390 |
8.044 |
|
|
Employee benefit expense |
424.391 |
392.841 |
402.948 |
|
|
Other expenses |
577.493 |
559.128 |
529.873 |
|
|
Extraordinary items before tax |
0.000 |
0.000 |
(114.704) |
|
|
TOTAL |
2293.720 |
2093.156 |
1924.094 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
262.178 |
220.100 |
211.025 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
112.384 |
104.202 |
62.526 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
149.794 |
115.898 |
148.499 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
113.314 |
90.550 |
93.013 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
36.480 |
25.348 |
55.486 |
|
|
|
|
|
|
|
Less |
TAX |
7.354 |
9.215 |
7.293 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
29.126 |
16.133 |
48.193 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
38.174 |
92.294 |
112.858 |
|
|
TOTAL EARNINGS |
38.174 |
92.294 |
112.858 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
595.899 |
503.809 |
12.762 |
|
|
Capital Goods |
10.713 |
149.095 |
569.666 |
|
|
TOTAL IMPORTS |
606.612 |
652.904 |
582.428 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9.676 |
5.360 |
16.011 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
86.295 |
84.779 |
99.030 |
|
Cash generated from operations |
119.606 |
109.192 |
86.676 |
|
Net cash flows from (used in) operations |
219.732 |
190.394 |
176.277 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days (Sundry Debtors /
Income * 365 Days) |
82.61 |
92.85 |
90.93 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.42 |
3.93 |
4.01 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
124.02 |
133.42 |
122.56 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.72 |
0.66 |
0.67 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.49 |
0.39 |
0.50 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current
Liabilities) / Total Assets) |
0.76 |
0.77 |
0.77 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.85 |
1.96 |
1.79 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.35 |
2.45 |
2.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.07 |
1.20 |
0.93 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.33 |
2.11 |
3.37 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.17 |
0.73 |
2.32 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.46 |
0.84 |
2.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.86 |
3.45 |
10.67 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets /
Current Liabilities) |
0.96 |
0.96 |
0.98 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
0.65 |
0.67 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.25 |
0.24 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
30.59 |
30.42 |
26.90 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.96 |
0.96 |
0.98 |
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 |
30.100 |
30.100 |
30.100 |
|
Reserves & Surplus |
421.570 |
437.657 |
466.783 |
|
Net
worth |
451.670 |
467.757 |
496.883 |
|
|
|
|
|
|
Long-term borrowings |
186.184 |
248.273 |
260.192 |
|
Short term borrowings |
524.571 |
582.514 |
574.217 |
|
Current maturities of long-term
debts |
99.030 |
84.779 |
86.295 |
|
Total
borrowings |
809.785 |
915.566 |
920.704 |
|
Debt/Equity
ratio |
1.793 |
1.957 |
1.853 |
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 |
2079.642 |
2220.220 |
2479.457 |
|
|
0.000 |
6.760 |
11.676 |
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 |
2079.642 |
2220.220 |
2479.457 |
|
Profit/ (Loss) |
48.193 |
16.133 |
29.126 |
|
|
2.32
% |
0.73
% |
1.17
% |
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 |
No |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
The company was originally incorporated on 12-08-1996 as Allevard Springs (India) Private Limited to carry on the business of manufacture and supply of Stabilizer bars, all varieties of Springs, all type of automobile components, spare parts and accessories etc. During the Financial Year 2009-10 the Company entered into a Business Transfer Agreement with Stumpp, Schuele & Somappa Private Limited, the parent company, to purchase its Springs Division with effect from 1st August 2009.
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF
MODIFICATION |
DATE OF
SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G55365936 |
100126082 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
09/08/2017 |
- |
- |
100000000.0 |
ONE FORBES,DR. V. B. GANDHI MARG, FORTMUMBAIMH400001IN |
|
2 |
G38974564 |
100085033 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
27/01/2017 |
- |
- |
100000000.0 |
SEETHAKATHI BUSINESS CENTRE, 4TH FLOOR272/688, ANNA SALAI,CHENNAITN600006IN |
|
3 |
G08840787 |
100042783 |
SIEMENS FINANCIAL SERVICES PRIVATE LIMITED |
24/06/2016 |
- |
- |
43100000.0 |
SEETHAKATHI BUSINESS CENTRE, 4TH FLOOR272/688, ANNA SALAI,CHENNAITN600006IN |
|
4 |
C80795776 |
10523183 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
15/09/2014 |
14/01/2016 |
- |
225000000.0 |
ONE FORBES,DR. V. B. GANDHI MARG, FORTMUMBAIMH400001IN |
|
5 |
C24609794 |
10523180 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
18/07/2014 |
- |
- |
75000000.0 |
ONE FORBES,DR. V. B. GANDHI MARG, FORTMUMBAIMH400001IN |
|
6 |
B14239719 |
10314219 |
STATE BANK OF TRAVANCORE |
31/12/2010 |
- |
- |
200000000.0 |
RESIDENCY ROAD BRANCH, AISHWARYA CASTLE, # 10,CASTLE STREET, NEAR BRIGADE TOWERS, ASHOK NAGARBANGALOREKA560025IN |
|
7 |
B11880358 |
10246298 |
STATE BANK OF HYDERABAD |
15/09/2010 |
24/03/2011 |
- |
340000000.0 |
INDUSTRIAL FINANCE BRANCH, "SHERIFF HOUSE"1ST FLOOR, 85, RICHMOND ROADBANGALOREKA560025IN |
|
8 |
C67342253 |
10233602 |
STATE BANK OF INDIA |
28/05/2010 |
24/12/2014 |
- |
1281000000.0 |
INDUSTRIAL FINANCE BRANCH, NO. 61,RESIDENCY PLAZA, RESIDENCY ROAD,BANGALOREKA560025IN |
|
9 |
A81584559 |
10208143 |
INDUSIND BANK LIMITED |
26/02/2010 |
- |
- |
190000000.0 |
DU PARC TRINITY, WEST WING, I FLOORNO. 17, M G ROADBANGALOREKA560001IN |
|
10 |
C40313900 |
10319786 |
STATE BNAK OF HYDERABAD |
08/11/2011 |
- |
16/01/2015 |
80000000.0 |
INDUSTRIAL FINANCE BRANCH, SHERIFF HOUSE,INDUSTRIAL FINANCE BRANCH, SHERIFF HOUSE,BANGALOREKA560025IN |
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 : |
NKTS |
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.