|
|
|
MIRA INFORM REPORT
|
Report No. : |
510308 |
|
Report Date : |
22.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ADVIK HI-TECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gate No. 357, Plot No. 99, Part Chakan Talegaon Road, Kharabwadi,
Chakan, Pune – 410501, Maharashtra |
|
Tel. No.: |
91-2135-669500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
12.11.1998 |
|
|
|
|
Com. Reg. No.: |
11-013028 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 23.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN1998PTC013028 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA3106E |
|
|
|
|
TIN No.: |
27930069713 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AACCA3106E1ZB |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Business segments
for the Company are primarily enterprises in: Automobile
component manufacturing Segments : Automotive
components including lifter tensioner, oil pumps, fuel ocks – manual &
auto, decompression units, water pumps, combi brake system, drum gear
shifters, starter gears and many more. Company is the Global leader in many
of the Products supplying to almost all 2WH OEM and leading 4WH OEM. Power Segment : The
Company has been in the business of generating Wind Power and Solar power
generation since 2006. The Company is focused in developing the business
vertical as renewal power generation business. Company had 5 Windmill with
total capacity of 6.50 MW. During the year 3 windmills are sold in August
2016 & 2 windmills were sold in December 2016. Solar installation of 6.90
MW. Investment Segment
: Trading
of shares and securities. Simultaneously company effectively manages its
treasury function by investing surplus funds into Mutual funds, Debts Funds,
Shares, Securities, Real Estate etc. All this together combine considered in
investment segment [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1998 and it is having a fine track record. For the financial year 2017, the company has achieved decent growth of 12.88% in its revenue as compared to its previous year along with good profit margin of 16.87% during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continues to derive strength from its long and established track record of its business operation backed by its well experienced management team in automotive sector. The company has achieved remarkable earning per share of INR 226.04 against its face value of INR 10. However these rating strengths get partially offset by the low bargaining power and cyclical nature of auto component industry. Payment seems to be regular. In view of aforesaid, the company can be considered for business dealing 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.
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
31-03-2018.
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 22.05.2018
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 DECLINED
MANAGEMENT NON-COOPERATIVE [91-2135-669500]
LOCATIONS
|
Registered Office : |
Gate No. 357, Plot No. 99, Part Chakan Talegaon Road, Kharabwadi,
Chakan, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-669500 |
|
Fax No.: |
91-2135-669501 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Aditya Bhartia |
|
Designation : |
Managing Director |
|
Address : |
124, Sindh Co-Operative Housing Society, Road No-1, Baner Road, Aundh, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
25.06.1975 |
|
Date of Appointment : |
31.03.2000 |
|
DIN No.: |
00932272 |
|
PAN No.: |
ACMPB9383M |
|
|
|
|
Name : |
Mr. Radhe Shyam Bhartia |
|
Designation : |
Wholetime Director |
|
Address : |
124, Sindh Co-Operative Housing Society, Road No-1, Baner Road, Aundh, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1949 |
|
Date of Appointment : |
12.11.1998 |
|
DIN No.: |
01499931 |
|
PAN No.: |
ACMPB9381K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Radhe Shyam Bhartia |
|
40 |
|
Aditya Bhartia |
|
354110 |
|
Vikram Bhartia |
|
70700 |
|
Kanak Bhartia |
|
117950 |
|
Aditya Bhartia Family Private Trust |
|
1652000 |
|
Vikram Bhartia Family Private Trust |
|
165200 |
|
|
|
|
|
Total |
|
2360000 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Individual/ Hindu Undivided Family – Indian |
23.00 |
|
Promoters – Others Individuals on behalf of Trusts (Association of Person) |
77.000 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Business segments
for the Company are primarily enterprises in: Automobile
component manufacturing Segments : Automotive
components including lifter tensioner, oil pumps, fuel ocks – manual &
auto, decompression units, water pumps, combi brake system, drum gear
shifters, starter gears and many more. Company is the Global leader in many
of the Products supplying to almost all 2WH OEM and leading 4WH OEM. Power Segment : The
Company has been in the business of generating Wind Power and Solar power
generation since 2006. The Company is focused in developing the business
vertical as renewal power generation business. Company had 5 Windmill with
total capacity of 6.50 MW. During the year 3 windmills are sold in August
2016 & 2 windmills were sold in December 2016. Solar installation of 6.90
MW. Investment Segment
: Trading
of shares and securities. Simultaneously company effectively manages its
treasury function by investing surplus funds into Mutual funds, Debts Funds,
Shares, Securities, Real Estate etc. All this together combine considered in
investment segment [Registered
Activity] |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: [NOT AVAILABLE]
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· The Sarawat Co-Op. Bank Limited Aundh Road Branch, Pune - 411007, Maharashtra, India ·
Citi Bank N. A. |
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Facilities : |
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|
Auditors : |
|
|
Name : |
Sharad Shah and Company Chartered Accountants |
|
Address : |
Gokul Nagar, 'B', 1184/4, Fergusson College Road, Pune-411005, Maharashtra, India |
|
PAN No.: |
AAEFS2410C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary
company : |
· PT Advik Indonesia · Ven-Tech Private Limited [U28910PN2012PTC142410] |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Advik Renewable Energy Private Limited [U74110PN2013PTC173435] · Advik Precision Private Limited [U28999PN2008PTC131537] |
|
|
|
|
Other Related Party : |
Kravan Engineering Private Limited [U32109PN2002PTC017025] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4490000 |
Equity Shares |
INR 10/- each |
INR 44.900 Million |
|
10000 |
Preference Shares |
INR 10/- each |
INR 0.100 Million |
|
|
|
|
|
|
|
Total |
|
INR 45.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2360000 |
Equity Shares |
INR 10/- each |
INR 23.600
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
23.600 |
23.600 |
23.600 |
|
(b) Reserves & Surplus |
1398.945 |
2210.897 |
1775.204 |
|
(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) |
1422.545 |
2234.497 |
1798.804 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
142.113 |
292.438 |
370.723 |
|
(b) Deferred tax liabilities (Net) |
31.936 |
26.423 |
5.640 |
|
(c)
Other long term liabilities |
0.274 |
0.274 |
0.274 |
|
(d)
long-term provisions |
2.892 |
4.052 |
0.000 |
|
Total
Non-current Liabilities (3) |
177.215 |
323.187 |
376.637 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
452.359 |
186.331 |
115.027 |
|
(b)
Trade payables |
430.337 |
371.830 |
114.612 |
|
(c)
Other current liabilities |
168.223 |
199.891 |
104.673 |
|
(d)
Short-term provisions |
55.914 |
142.262 |
131.795 |
|
Total
Current Liabilities (4) |
1106.833 |
900.314 |
466.107 |
|
|
|
|
|
|
TOTAL |
2706.593 |
3457.998 |
2641.548 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
792.926 |
911.519 |
621.332 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
75.973 |
68.248 |
105.777 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
321.803 |
878.213 |
682.760 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
101.742 |
463.072 |
209.041 |
|
(e)
Other Non-current assets |
207.531 |
210.377 |
0.000 |
|
Total
Non-Current Assets |
1499.975 |
2531.429 |
1618.910 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
100.000 |
25.110 |
52.319 |
|
(b)
Inventories |
222.276 |
217.954 |
165.045 |
|
(c)
Trade receivables |
632.242 |
509.485 |
302.295 |
|
(d)
Cash and cash equivalents |
23.793 |
12.599 |
163.570 |
|
(e)
Short-term loans and advances |
215.761 |
43.843 |
107.250 |
|
(f)
Other current assets |
12.546 |
117.578 |
232.159 |
|
Total
Current Assets |
1206.618 |
926.569 |
1022.638 |
|
|
|
|
|
|
TOTAL |
2706.593 |
3457.998 |
2641.548 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3154.521 |
2794.574 |
2632.030 |
|
|
|
Other Income |
144.132 |
56.888 |
136.493 |
|
|
|
TOTAL |
3298.653 |
2851.462 |
2768.523 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1644.586 |
1388.290 |
1413.672 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(8.461) |
3.511 |
0.924 |
|
|
|
Employees benefits expense |
388.392 |
338.571 |
275.223 |
|
|
|
Other expenses |
409.520 |
358.842 |
268.561 |
|
|
|
CSR expenditure |
4.087 |
1.171 |
0.000 |
|
|
|
Exceptional items |
0.000 |
4.215 |
0.000 |
|
|
|
TOTAL |
2438.124 |
2094.600 |
1958.380 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
860.529 |
756.862 |
810.143 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
35.081 |
49.552 |
58.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
825.448 |
707.310 |
751.355 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
156.473 |
138.631 |
138.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
668.975 |
568.679 |
612.452 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
135.513 |
78.784 |
97.201 |
|
|
|
|
|
|
|
|
|
Less |
TAX EXPENSES FROM
DISCONTINUING OPERATIONS |
1.239 |
(31.012) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
532.223 |
520.907 |
515.251 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
404.110 |
276.014 |
251.964 |
|
|
|
TOTAL EARNINGS |
404.110 |
276.014 |
251.964 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
69.945 |
47.512 |
50.763 |
|
|
|
Components and spare
parts |
0.245 |
0.000 |
0.000 |
|
|
|
Capital Goods |
28.489 |
34.083 |
0.215 |
|
|
|
TOTAL IMPORTS |
98.680 |
81.595 |
50.979 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
226.04 |
220.72 |
218.33 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
128.968 |
170.298 |
89.669 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(696.075) |
924.276 |
612.776 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(801.587) |
866.276 |
474.776 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
73.15 |
66.54 |
41.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.99 |
5.49 |
8.71 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
95.51 |
97.76 |
29.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
3.87 |
3.47 |
4.91 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.99 |
0.77 |
1.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.51 |
0.39 |
0.35 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.51 |
0.29 |
0.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.78 |
0.40 |
0.26 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.61 |
0.44 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
24.53 |
15.27 |
13.78 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
16.87 |
18.64 |
19.58 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
19.66 |
15.06 |
19.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
37.41 |
23.31 |
28.64 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.09 |
1.03 |
2.19 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.89 |
0.79 |
1.84 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.65 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
30.65 |
27.50 |
24.38 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.09 |
1.03 |
2.19 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
23.600 |
23.600 |
23.600 |
|
Reserves & Surplus |
1775.204 |
2210.897 |
1398.945 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1798.804 |
2234.497 |
1422.545 |
|
|
|
|
|
|
Long-term borrowings |
370.723 |
292.438 |
142.113 |
|
Short term borrowings |
115.027 |
186.331 |
452.359 |
|
Current Maturities of Long
term debt |
89.669 |
170.298 |
128.968 |
|
Total
borrowings |
575.419 |
649.067 |
723.440 |
|
Debt/Equity
ratio |
0.320 |
0.290 |
0.509 |
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 |
2632.030 |
2794.574 |
3154.521 |
|
|
|
6.176 |
12.880 |
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 |
2632.030 |
2794.574 |
3154.521 |
|
Profit/ (Loss) |
515.251 |
520.907 |
532.223 |
|
|
19.58% |
18.64% |
16.87% |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C63698674 |
10589974 |
CITI BANK N.A. |
29/07/2015 |
- |
- |
105000000.0 |
GROUND FLOOR, ONYX TOWER,NORTH KOREGAON PARK MAIN ROADPUNEMH411001IN |
|
2 |
C17641044 |
10516251 |
CITI BANK N.A. |
13/08/2014 |
- |
- |
270000000.0 |
DLG SQUARE JACARANDA MARG,BLOCK- M, DLF CITY, PHASE- II,GURGAONHR122002IN |
|
3 |
C06980221 |
10503626 |
CITI BANK N.A. |
07/05/2014 |
- |
- |
244000000.0 |
JACARANDA MARG, M BLOCKDLF CITY, PHASE LIGURGAONHR122002IN |
|
4 |
B83200089 |
10445374 |
HDFC BANK LIMITED |
15/07/2013 |
- |
- |
200000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
B08346215 |
10270491 |
CITIBANK N. A. |
03/03/2011 |
14/03/2011 |
- |
111500000.0 |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60BANDRA KURLA COMPLEX, BANDRA (E)MUMBAIMH400051IN |
|
6 |
A92358639 |
90093031 |
CITIBANK N. A. |
15/02/2005 |
27/07/2010 |
- |
125000000.0 |
2413 PARMAR HOUSEEAST STREET CAMPPUNEMH411001IN |
|
7 |
G49222490 |
10454376 |
CITIBANK N. A. |
27/09/2013 |
- |
21/07/2017 |
260000000.0 |
CITIBANK N.A., DLF SQUARE, DLF PHASE II,JACARANDA MARG, M BLOCK,GURGAONHR122002IN |
|
8 |
G22237176 |
10465279 |
VOLKSWAGEN FINANCE PRIVATE LIMITED |
18/10/2013 |
- |
25/10/2016 |
2300000.0 |
3RD FLOOR, WING - A, SILVER UTOPIACARDINAL GRACIOUS ROAD, CHAKALA, ANDHERIMUMBAIMH400099IN |
|
9 |
B78297660 |
10136461 |
THE SARASWAT CO - OPERATIVE BANK LIMITED |
18/12/2008 |
14/07/2009 |
24/06/2013 |
8250000.0 |
AUNDH BRANCH,AUNDHPUNEMH411007IN |
|
10 |
B69895985 |
10111632 |
THE SARASWAT CO-OPERATIVE BANK LTD |
25/06/2008 |
- |
27/02/2013 |
45000000.0 |
AUNDH BRANCHPUNEMH411007IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
250.000 |
0.000 |
|
|
|
|
|
Total |
250.000 |
0.000 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against company not acknowledged as debt |
232.030 |
474.494 |
|
Other money for which company is contingently liable |
75.464 |
89.054 |
CORPORATE INFORMATION
ADVIK Hi-Tech Private Limited (AHPL) is one of India's leading & global automotive component manufacturers. They have been catering to the eclectic needs of a number of domestic and overseas customers across four continents in the two-wheeler, engine and transmission system. The company is in wind Power, Solar and Investment segments for the past many years. Their customer base includes leading automotive original equipment manufacturers in India, Europe, UK, US and the ASEAN region. We are the preferred global supplier for a range of automotive components including lifter tensioner, oil pumps, fuel cocks – manual & auto decompression units, water pumps, combi brake system, drum gear shifters, starter gears and many more.
REVIEW OF OPERATIONS
ADVIK
HI-TECH PRIVATE LIMITED (‘the Company’) is one of India's leading & global
automotive component manufacturers, catering to the eclectic needs of a number
of domestic and overseas customers across four continents in the two-wheeler,
three-wheeler, four-wheeler, stationary engine and transmission system segments
for the past 19 years.
Over
the period the Advik Hi-Tech Private Limited, has grown up many folds, this
could possible because of the dedicated & consistent efforts by the
management and the team of the Company. As an outcome, the Company been honored
with awards by the leading brands in the industry, which are as follows:
%The plant at Pantnagar won ‘Quality Award Gold’ at BAVA Pantnagar cluster Convention – 2016
%Plant at Ahmedabad achieved ‘first Place under Pokayoke category’, competition organized by ACMA western Region.
%Bangalore plant got ‘First Star Rating’ in Poka Yoke Competition 2016 organized by 1st Edition of CII Southern Region Poka Yoke.
% BAVA Pune cluster committee organized Kaizen Competition in ECRS category and Pune achieve ‘first price’ in competition.
%Kaizen Contest organized by ACMA Southern region in safety category, their plant at Bangalore won and stood at second position.
%Pune plant stood at second runner-up position at, ACMA Western region organized Kaizen Competition in Cost Category
The Directors are delighted to pass on the success and happiness to you all. In view of
SLUMP SALE OF WIND
POWER BUSINESS
The Board of Directors (“Board”) of the Company in their meeting held on September 3, 2016 approved the slump sale of Wind Power Business comprising of wind power units situated in Dhule, Satara and Nandurbar on a going concern basis, without values being assigned to individual assets and liabilities, as contemplated under the provisions of Section 50B read with Section 2(42C) of the Income Tax Act, 1961, to Advik Renewable Energy Private Limited, formerly known as Advik Homes Private Limited with effect from September 1, 2016.
Scheme of arrangement between Advik Hi-Tech Private Limited (Demerged Company) and Advik Tecno commercial Private Limited (Resulting Company)
As a part of an overall re-organization plan and is expected to provide greater efficiency in operations and increased focus and attention to each of the businesses and in the long term, create shareholder value. The Company had filed a petition in respect of Scheme of Arrangement in pursuance of section 230-232 of the Companies Act 2013, between Advik Hi-Tech Private Limited (Demerged Company) and Advik Tecno commercial Private Limited (Resulting Company), with the Hon’ble High Court, Mumbai Bench and the National Company Law Tribunal (NCLT), Mumbai Bench.
Upon approval of directions issued by the Hon’ble, NCLT, Mumbai Bench, the Company had convened an Extra Ordinary General Meeting of the Equity Share Holders, to seek approval for the said scheme of arrangement. Accordingly; upon approval of shareholders and creditors the Hon’ble, NCLT, Mumbai Bench, had approved the scheme and issued an order dated 05th July 2017 to that effect.
As a result, upon becoming the scheme effective, i.e. w.e.f. 01st January 2017 (Appointed date) the demerged undertaking of the Company, has been transferred and vested in the resulting Company i.e. Advik Tecno commercial Private Limited, on a going concern basis, in pursuance of the Order issued by Hon’ble, NCLT, Mumbai Bench, in the above referred matter
BUSINESS OUTLOOK:
The Directors’ are hopeful that Company will report better financial results in the coming financial year and Company will continue to strive for profit and wealth maximization of shareholders of the Company by achieving better financial output in the coming years
FIXED ASSETS:
· Land
· Buildings
· Office building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 68.09 |
|
UK Pound |
1 |
INR 91.41 |
|
Euro |
1 |
INR 79.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
RUP |
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.