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3decades

 

MIRA INFORM REPORT

                                                           

 

Report No. :

508585

Report Date :

11.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ELECTRONICA HITECH MACHINE TOOLS PRIVATE LIMITED (w.e.f. 06.03.2014)

 

 

Formerly Known As :

ELECTRONICA HITECH MACHINES PRIVATE LIMITED

 

 

Registered Office :

44, Elektra Chambers, Mukund Nagar, Pune – 411037, Maharashtra

Mobile No.:

91-9380513007 (Mr. Inbasekar)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

01.04.2011

 

 

Com. Reg. No.:

11-139073

 

 

Capital Investment / Paid-up Capital :

INR 14.900 Million

 

 

CIN No.:

[Company Identification No.]

U29210PN2011PTC139073

 

 

IEC No.:

[Import-Export Code No.]

3111005399

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AACCE6800H1ZU

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AACCE6800H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

·         Wholesale of machinery and equipment for the textile, wood and metal industries etc.

·         Manufacture of machine tools for turning, drilling, milling, shaping, planning, boring, grinding etc.

·         Manufacture, Trader and Importer of metal cutting machine, metal forming machine, EDM, etc.

[Registered activity and also confirmed by management]

 

 

No. of Employees :

200 (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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2011 and it is a manufacturer trader and importer of metal cutting machine and metal forming machine.

 

As per the financials of March 2017, the company has registered a growth of 74.80% in its revenue as compared to its previous year’s revenue and has reported average profit margin of 1.97%.

 

Rating takes into consideration the company’s sound net worth base along with low solvency indicators and decent liquidity position.

 

Further, the company has reported earnings per share of INR 8.39 against its face value of INR 10.

 

However, rating strength is partially offset by its presence highly competitive and huge working capital requirement steel industry.

 

Payments terms are reported to be slow but correct.

 

In view of aforesaid, the subject 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)

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 11.05.2018

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Inbasekar

Designation :

Regional Manager

Contact No.:

91-9380513007

Date :

10.05.2018

 

 

LOCATIONS

 

Registered Office :

44, Elektra Chambers, Mukund Nagar, Pune – 411037, Maharashtra, India

Tel. No.:

91-20-30435400

Mobile No.:

91-9380513007 (Mr. Inbasekar)

91-9325378929 (Mr. Pradeep Wadipalli)

Fax No.:

Not Available

E-Mail :

gsa@electronicahitech.com

pw@electronicahightech.com

Website :

http://electronichitech.com

Location :

Owned

Locality :

Commercial

 

 

Sales Office 1 :

C/O Dada Fire Works Private Limited S No 194, Fursungi, Pune Saswad Road, Pune – 412308, Maharashtra, India

 

 

Sales Office 2 :

106, 7 and 8, 1st Floor, Hindustan Kohinoor Industrial Complex, LBS Marg, Vikhroli (West), Mumbai – 400083, Maharashtra, India

 

 

Sales Office 3 :

C/O Electronica Finance Limited. 15, Shivani Complex, 2nd Floor, Javahar Chowk, Manninagar, Ahmedabad – 380008, Gujarat, India

 

 

Sales Office 4 :

C/O Electronica Finance Limited. 609, 6th Floor, Siddharth Complex, R. C. Dutt Road, Alakapuri, Vadodara - 390005, Gujarat, India

 

 

Sales Office 5 :

F – 9, 12 and 13, 1st Floor, Local Shopping Centre, Mayur Vihar Phase, Near ICICI Bank, Delhi – 141010, India

 

 

Sales Office 6 :

1st Floor, Pratap House, Jeevan Nagar, Opposite Urban Estate Nursery, Focal Point, Ludhiana – 141010, Punjab, India

 

 

Sales Office 7 :

Shop No-32, 33 and 34, SMR Sartaj Plaza, Sikh Road, Secunderabad, Hyderabad – 500009, Telangana, India

 

 

Sales Office 8 :

No. 15 and 16, ST. Marks Road, House of Lords, 304, 3rd Floor, Bangalore – 560001, Karnataka, India

 

 

Sales Office 9 :

C/O Electronica Finance Limited, No-33A, T.V. Samy Road (East), R.S. Puram, Opposite Sathya Agencies, Coimbatore - 641002, Tamilnadu, India

 

 

Sales Office 10 :

C/O Electronica Finance Limited, No-1076, L TVS Colony, Anna Nagar West,
Extention, Chennai - 600101, Tamilnadu, India 

 

 

Sales Office 11 :

H.No.501, Gat No-411, Urawade, Taluka-Mulshi, Pune - 412108, Maharashtra, India

 

 

Factory :

S.No.194 (Old 159), Fursungi, Pune Saswad Road, Pune - 412308, Maharashtra, India

 

 

DIRECTORS

 

AS ON 31.03.2018

 

Name :

Mr. Sujit Sharad Natekar

Designation :

Managing Director

Address :

Ameya Apartments, Flat No. 4 102/103, 6th Floor, Bhonde Colony, Pune -411004, Maharashtra, India

Date of Birth/Age :

16.01.1967

Date of Appointment :

01.04.2011

DIN No.:

00182517

Other Directorship:

 

CIN/FCRN

Company Name

Begin Date

End Date

U31909MH1981PTC024618

ELECTRONICA EXPORTS PRIVATE LIMITED

30/09/2011

-

U24110MH1988PLC046652

ELECTRONICA TUNGSTEN LIMITED

26/09/2011

-

U99999MH1983PTC029847

NATEKAR CONSTRUCTION PRIVATE LIMITED

27/09/2008

-

U27107MH2007PLC199080

ELECTRONICA TOUGH CARB LIMITED

29/09/2011

-

 

 

Name :

Mrs. Mugdha Rahul Kaskhediker

Designation :

Director

Address :

7 Aneya Apartments, CTS No. 102/103/6 Bhonde Colony, Erandawana, Pune – 411004, Maharashtra, India

Date of Birth/Age :

10.06.1982

Date of Appointment :

01.04.2011

DIN No.:

01764793

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U65910PN1990PLC057017

ELECTRONICA FINANCE LIMITED

26/10/2016

-

 

 

Name :

Mrs. Priya Adwait Dharmadhikar

Designation :

Additional Director

Address :

Balkrishna Heritage, CTS No. 863, Final Plot No.207, Bhandarkar Road, Shiv Ajinagar, Pune 411005 

Date of Appointment :

01.12.2016

DIN No.:

02629790

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U29299PN2007PLC130906

ELECTRONICA INDUSTRIES LIMITED

31/12/2009

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Inbasekar

Designation :

Regional Manager

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Equity Shareholders

No. of Shares

Sujit Natekar

1000

Mugdha Kaskhediker

1000

Shrikant Pophale (HUF)

987750

Electronica Exports Private Limited

250

Total

990000

 

 

Names of Preference Shareholders

No. of Shares

Mugdha Investment and Finance Private Limited 

500000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

99.97

Public/Other than promoters - Body corporate

0.03

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

·         Wholesale of machinery and equipment for the textile, wood and metal industries etc.

·         Manufacture of machine tools for turning, drilling, milling, shaping, planning, boring, grinding etc.

·         Manufacture, Trader and Importer of metal cutting machine, metal forming machine, EDM, etc.

[Registered activity and also confirmed by management]

 

 

Products / Services :

NIC Code No.

Products/Services Description

46595

Wholesale of machinery and equipment for the textile, wood and metal industries etc.

28221

Manufacture of machine tools for turning, drilling, milling, shaping, planning, boring, grinding etc.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Machines

Countries :
  • China
  • Taiwan
  • Japan
  • Korea

 

 

Terms :

 

Selling :

AL/C, Advance Payment, Cheque and Credit (30,60,90 Days) RTGS 

 

 

Purchasing :

AL/C, Advance Payment, Cheque and Credit (30,60,90 Days) RTGS 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

Wholesalers, Retailers, End Users

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

Banker Name :

Axis Bank Limited

Branch :

--

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

LONG TERM BORROWING

 

 

Axis Bank - Term Loan

 

The loan is secured by first charge on the entire current assets of the Company and simple mortgage of office premises at Mukundnagar, Pune

and lien on Fixed Deposit receipt of INR 3.791 Million. The loan is further secured by Corporate Guarantee of Electronica Hitech Engineering Private limited and personal guarantee of Managing Director Shree Sujit Natekar. Amount borrowed is INR 6.500 Million. In 2014 and carries interest rate of 13.5% p.a. at monthly rests. The repayment of loan Is to be made by way of 35 equal monthly Installments of INR 0.180 Million each and the last Installment (36th installment) of INR 0.200 Million.

1.045

3.126

SHORT TERM BORROWING

 

 

Cash Credit from Axis Bank

 

The loan is secured by first charge on the entire current assets of the Company and simple mortgage of office premises at Mukundnagar, Puna and lien on Fixed Deposit receipts of INR 3.791 Million and carries Interest rate of 12.25% p.a. The loan is further secured by Corporate Guarantee or Electronica Hitech Engineering Private Limited and

personal guarantee or Managing Director Shree Sujil Natekar.

5.091

9.469

Total

6.136

12.595

 

Auditors :

 

Name :

M.P. Chitale and Company

Chartered Accountants

Address :

417/1, Narayan Peth, Munjaba Lane, Pune – 411030, Maharashtra, India

Tel. No.:

91-2024450667/24450156

E-Mail :

puneoffice@mpchitale.org

Income-tax PAN of auditor or auditor's firm :

AAAFM2282Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprise over which KMP and their relatives exercise significant influence  :
  • Electronica Tungsten Limited
  • Electronica Hi-tech Engineering Private Limited
  • Electronica Industries Limited
  • Electronica Finance Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

INR 10/- each

INR 10.000 Million

500000

Preference Share

INR 10/- each

INR 5.000 Million

 

Total

 

INR 15.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

990000

Equity Shares

INR 10/- each

INR 9.900 Million

500000

Preference Share

INR 10/- each

INR 5.000 Million

 

Total

 

INR 14.900 Million

 

 

 

FINANCIAL DATA

[all figures are INR Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

14.900

14.900

14.900

(b) Reserves & Surplus

82.400

74.563

90.078

(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)

97.300

89.463

104.978

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1.045

3.126

21.824

(b) Deferred tax liabilities (Net)

0.000

0.000

0.441

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.043

0.000

Total Non-current Liabilities (3)

1.045

3.169

22.265

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

5.091

9.469

20.613

(b) Trade payables

93.992

79.873

51.099

(c) Other current liabilities

82.818

32.452

19.714

(d) Short-term provisions

16.710

9.602

7.643

Total Current Liabilities (4)

198.611

131.396

99.069

 

 

 

 

TOTAL

296.956

224.028

226.312

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

85.425

91.186

96.701

(ii) Intangible Assets

31.928

24.501

15.434

(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

0.210

0.210

0.210

(c) Deferred tax assets (net)

4.820

0.000

0.000

(d)  Long-term Loan and Advances

1.522

0.663

0.663

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

123.905

116.560

113.008

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

35.500

0.000

0.000

(b) Inventories

37.916

51.074

41.968

(c) Trade receivables

55.146

34.490

55.390

(d) Cash and cash equivalents

31.432

7.725

6.781

(e) Short-term loans and advances

7.438

5.615

8.859

(f) Other current assets

5.619

8.564

0.306

Total Current Assets

173.051

107.468

113.304

 

 

 

 

TOTAL

296.956

224.028

226.312

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

633.961

362.677

238.772

 

Other Income

11.132

5.724

6.899

 

TOTAL

645.093

368.401

245.671

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

83.332

53.284

38.759

 

Purchases of Stock-in-Trade

344.009

175.464

78.567

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

17.852

(5.595)

(5.378)

 

Employees benefits expense

121.364

100.453

101.201

 

Other expenses

56.316

41.854

38.860

 

TOTAL

622.873

365.460

252.009

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

22.220

2.941

(6.338)

 

 

 

 

 

Less

FINANCIAL EXPENSES

2.140

5.319

5.319

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

20.080

(2.378)

(11.657)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

10.623

8.549

4.331

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

9.457

(10.927)

(15.988)

 

 

 

 

 

Less

TAX

(3.051)

(0.397

(0.448)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

12.508

(10.530)

(15.540)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Sales Commission

52.107

58.416

65.979

 

TOTAL EARNINGS

52.107

58.416

65.979

 

 

 

 

 

 

IMPORTS

 

 

 

 

Trading Goods and Spares

357.553

182.824

86.667

 

TOTAL IMPORTS

357.553

182.824

86.667

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

8.39

(7.07)

(15.70)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

2.160

2.263

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

31.75

34.71

84.67

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

11.50

10.52

4.31

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

80.28

127.45

158.97

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.59

0.06

(0.15)

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.19

0.03

(0.06)

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.68

0.61

0.53

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.09

0.17

0.40

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

2.04

1.47

0.94

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

1.21

1.29

1.07

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

10.38

0.55

(1.19)

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

1.97

(2.90)

(6.51)

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

4.21

(4.70)

(6.87)

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

12.86

(11.77)

(14.80)

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.87

0.82

1.14

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.68

0.43

0.72

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.33

0.40

0.46

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.56

1.00

2.85

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.87

0.82

1.14

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

14.900

14.900

14.900

Reserves & Surplus

90.078

74.563

82.400

Share Application money pending allotment

0.000

0.000

0.000

Net worth

104.978

89.463

97.300

 

 

 

 

Long Term borrowings

21.824

3.126

1.045

Short Term borrowings

20.613

9.469

5.091

Total borrowings

42.437

12.595

6.136

Debt/Equity ratio

0.404

0.141

0.063

 

 

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

238.772

362.677

633.961

 

 

51.893

74.800

 

 

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

238.772

362.677

633.961

Profit

(15.540)

(10.530)

12.508

 

(6.51%)

(2.90%)

1.97%

 

 

 

 

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

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

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 CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

AMOUNT

ADDRESS

1

C41689100

10339145

AXIS BANK LIMITED

04/02/2012

31/12/2014

66500000.0

CORPORATE BANKING BRANCH, 214/215, CITY MALL,2ND FLOOR, GANESHKHIND ROAD,PUNEMH411007IN

 

CONTINGENT LIABILITIES:

 (INR in million)

PARTICULARS

31.03.2017

31.03.2016

Bank Guarantee

2.705

5.902

Sales tax C form pending

4.541

1.646

 

FIXED ASSETS

 

·         Land

·         Building

·         Furniture and Fixture

·         Computer

·         Plant and Machinery

·         Office Equipment

·         Vehicle

 

 

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 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 67.38

UK Pound

1

INR 91.39

Euro

1

INR 79.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

KVT

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.