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MIRA INFORM REPORT
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Report No. : |
511954 |
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Report Date : |
30.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SANDHAR TECHNOLOGIES LIMITED |
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Formerly Known
As : |
SANDHAR LOCKING DEVICES LIMITED SANDHAR LOCKING DEVICES PRIVATE LIMITED |
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Registered
Office : |
B-6/20, L.S.C. Safdarjung Enclave, New Delhi - 110029 |
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Tel. No.: |
91-124-4518900 |
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Country : |
India |
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Financials (as
on) : |
31.03.2018 |
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Date of
Incorporation : |
19.10.1987 |
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Com. Reg. No.: |
55-029553 |
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Capital
Investment / Paid-up Capital : |
INR 601.907 Million |
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CIN No.: [Company Identification
No.] |
L74999DL1987PLC029553 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS0512J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Assembling of Automotive Components such as TV Cabinet, lock sets, mirrors, and various sheet metal components for two wheelers and four wheelers industry. [Registered Activity and also Confirmed by Management] |
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No. of Employees
: |
Not Divulged |
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 17800000 |
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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 1987. It is a manufacturer of Automobiles TV Cabinet, Lock Sets, and various sheet Metal Components for Two Wheelers and Four Wheelers industry. As per the available financial records of 2018, the company has achieved 25.77% growth in its revenue as compared to the previous year revenue along with average profit margin of 3.93%. The healthy financial profile of the company is marked by strong networth base along with comfortable debt coverage indicators. The rating takes into consideration equity infused by its promoters. The also rating takes into consideration the subject’s long established track record of business operations along with extensive experience of its promoters. The company has its share price trading at around INR 385.35 against the Face Value (FV) of INR 10 on BSE as on 29th May, 2018. Business is active. Payment 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
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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 |
INDIA RATING |
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Rating |
Long term loans = A+ |
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Rating Explanation |
Adequate degree of safety and low credit
risk |
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Date |
25.12.2017 |
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Rating Agency Name |
INDIA RATING |
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Rating |
Fund based limits = A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk |
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Date |
25.12.2017 |
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
31-03-2018.
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 30.05.2018.
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 BY
|
Name : |
Mr. Arvind Joshi |
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Designation : |
Chief Finance Office |
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Contact No.: |
91-124-4518900 |
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Date : |
26.05.2018 |
LOCATIONS
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Registered Office : |
B-6/20, L.S C. Safdarjung Enclave, New Delhi - 110029, 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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Corporate/ Head Office : |
13, Sector-44, Gurugram -122002, Haryana, India |
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Tel. No.: |
91-124-4518900/ 901 |
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Fax No.: |
91-124-4012845 |
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E-Mail : |
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Factory 1: |
Plot No. 13, Sector-5, Growth Centre Phase II, Bawal - 123501, Haryana, India |
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Factory 2: |
Automach, Vallam Unit Plot No-195/3, Bajanai Koil Street, Village-Vallam, Post-Mathur, Taluk-Sriperumpudur, Kancheepuram - 602105,Tamilnadu, India |
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Factory 3: |
LYSSEN DIVISION Village-Dhumaspur, P.O.-Badshahpur, Sohna-Gurgaon Road, Gurgaon-122101, Haryana, India |
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Factory 4: |
Plot No. SP1-889 RIICO Industrial Area, Village Pathredi, Bhiwadi, District-Alwar - 301019, Rajasthan, India |
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Factory 5: |
CABINS &
FABRICATION DIVISION Unit 1, Gat No. 418 Village Ambethan, Taluka Khed, P.O.- Chakan, Pune- 410501, Maharashtra, India |
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Factory 6: |
DISTRIBUTION
DIVISION Block - C-48, Ansals Palam Udyog, Sector - 18, Gurgaon - 122015, Haryana, India |
DIRECTORS
AS ON 31.03.2018
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Name : |
Mr. Dharmendar Nath Davar |
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Designation : |
Director |
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Address : |
B5/82 Safdarjung Enclave New Delhi 110029, India |
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Date of Birth/Age : |
08.08.1934 |
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Qualification : |
B.com (Hons.), M.A. (Economics) CAIIB, Fellow of the Economic Development Institute of the world Bank |
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Date of Appointment : |
02.07.1994 |
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PAN No.: |
AAAPD0015E |
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DIN No.: |
00002008 |
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Name : |
Mr. Arjun Sharma |
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Designation : |
Director |
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Address : |
27 Sunder Nagar, New Delhi-110003, India |
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Date of Birth/Age : |
15.12.1965 |
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Qualification : |
B.com (Hons.) |
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Date of Appointment : |
24.05.2016 |
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PAN No.: |
ABEPS6767M |
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DIN No.: |
00003306 |
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Name : |
Mr. Arvind Kapur |
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Designation : |
Director |
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Address : |
181-C, Western Avenue Sainik Farms, New Delhi-110062, India |
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Date of Birth/Age : |
05.07.1950 |
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Qualification : |
B.SC |
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Date of Appointment : |
01.10.2005 |
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PAN No.: |
AERPK9677E |
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DIN No.: |
00096308 |
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Name : |
Mr. Jayant Davar |
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Designation : |
Managing Director |
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Address : |
50, Sultanpur Farms, Prakrti Marg Mehrauli Gurgaon Road, Delhi-110030, India |
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Date of Birth/Age : |
18.10.1961 |
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Qualification : |
B.Tech (Hons) & O.P.M. (Harvard) |
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Date of Appointment : |
24.10.1987 |
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PAN No.: |
AAAPD3207A |
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DIN No.: |
00100801 |
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Name : |
Mrs. Monica Davar |
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Designation : |
Director |
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Address : |
House No. 50, Sultanpur Farm, Prakrti Marg, Mehrauli Gurgaon Road, Hauz Khas, Delhi-110030, India |
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Date of Birth/Age : |
07.09.1965 |
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Qualification : |
B.com |
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Date of Appointment : |
24.10.1987 |
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PAN No.: |
AAAPD9055F |
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DIN No.: |
00100875 |
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Name : |
Mr. Ravinder Nagpal |
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Designation : |
Director |
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Address : |
B-8/14, First Floor, Vasant Vihar New Delhi 110057, India |
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Date of Birth/Age : |
06.04.1956 |
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Qualification : |
C.A. |
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Date of Appointment : |
21.11.2001 |
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PAN No.: |
AACPN8615J |
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DIN No.: |
00102970 |
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Name : |
Mr. Krishan Lal Chugh |
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Designation : |
Director |
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Address : |
N-79, Panchsheel Park, New Delhi-110017, India |
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Date of Birth/Age : |
13.09.1937 |
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Qualification : |
B.E. (Mechanical) |
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Date of Appointment : |
14.03.2003 |
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PAN No.: |
ADUPC4882B |
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DIN No.: |
00140124 |
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Name : |
Mr. Mohan Lal Bhagat |
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Designation : |
Director |
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Address : |
24/B, New Road Alipore, Kolkatta-700027, West Bengal, India |
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Date of Birth/Age : |
23.06.1935 |
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Qualification : |
B.com, MBIM |
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Date of Appointment : |
02.02.1993 |
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PAN No.: |
AECPB1102L |
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DIN No.: |
00699750 |
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Name : |
Mr. Arvind Joshi |
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Designation : |
Whole-time Director |
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Address : |
G-39, Kirti Nagar 2nd Floor, New Delhi-110015, , India |
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Date of Birth/Age : |
25.09.1966 |
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Qualification : |
CA, CS & LLB |
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Date of Appointment : |
01.06.2013 |
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PAN No.: |
AEHPJ6998M |
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DIN No.: |
01877905 |
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KEY EXECUTIVES
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Name : |
Mr. Arvind Joshi |
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Designation : |
CFO(KMP) |
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Address : |
G-39, Kirti Nagar 2nd Floor, New Delhi-110015, India |
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Date of Birth/Age : |
25.09.1966 |
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Qualification : |
CA, CS & LLB |
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Date of Appointment : |
23.02.2015 |
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PAN No.: |
AEHPJ6998M |
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Name : |
Mr. Arvind Joshi |
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Designation : |
Chief Finance Office |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2018
|
Category of
Shareholders |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR,
1957)As a % |
|
(A) Promoter & Promoter Group |
42220059 |
70.14 |
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(B) Public |
17970649 |
29.86 |
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|
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Total |
60190708 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
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Individuals/Hindu
undivided Family |
31306426 |
52.01 |
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JAYANT DAVAR |
31306426 |
52.01 |
|
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Any Other
(specify) |
10913633 |
18.13 |
|
|
MONICA DAVAR
(INDIVIDUAL) |
2622725 |
4.36 |
|
|
NEEL JAY DAVAR
(INDIVIDUAL) |
1555995 |
2.59 |
|
|
DHARMENDAR NATH
DAVAR (INDIVIDUAL) |
839582 |
1.39 |
|
|
SANTOSH DAVAR
(INDIVIDUAL) |
785950 |
1.31 |
|
|
POONAM JUNEJA
(INDIVIDUAL) |
62265 |
0.10 |
|
|
SANJEEVNI IMPEX
PRIVATE LIMTED |
1667727 |
2.77 |
|
|
YSG ESTATES
PRIVATE LIMITED |
1662032 |
2.76 |
|
|
SANDHAR
INFOSYSTEMS LIMITED |
793569 |
1.32 |
|
|
JUBIN FINANCE AND
INVESTMENT LTD |
573508 |
0.95 |
|
|
SANDHAR ESTATES
PRIVATE LIMITED |
350280 |
0.58 |
|
|
Sub Total A1 |
42220059 |
70.14 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
42220059 |
70.14 |
Statement showing shareholding
pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
3952557 |
6.57 |
|
|
ICICI PRUDENTIAL
VALUE FUND - SERIES 20 |
761576 |
1.27 |
|
|
Alternate
Investment Funds |
331290 |
0.55 |
|
|
Foreign Portfolio
Investors |
2264069 |
3.76 |
|
|
Financial
Institutions/ Banks |
1139436 |
1.89 |
|
|
AXIS BANK LIMITED |
693772 |
1.15 |
|
|
Insurance
Companies |
30719 |
0.05 |
|
|
Sub Total B1 |
7718071 |
12.82 |
|
|
B2) Central Government/
State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
5702380 |
9.47 |
|
|
Individual share
capital in excess of INR 0.200 Million |
3399757 |
5.65 |
|
|
AKASH BHANSHALI |
2534505 |
4.21 |
|
|
Any Other
(specify) |
1150441 |
1.91 |
|
|
Bodies Corporate |
1136244 |
1.89 |
|
|
Non-Resident
Indian (NRI) |
14197 |
0.02 |
|
|
Sub Total B3 |
10252578 |
17.03 |
|
|
B=B1+B2+B3 |
17970649 |
29.86 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Assembling of Automotive Components such as, TV Cabinet, lock sets, mirrors, and various sheet metal components for two wheelers and four wheelers industry. [Registered Activity and also Confirmed by Management] |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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
|
Suppliers : |
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Customers : |
· Hero · TVS · Suzuki · Yamaha · Honda · Royal Enfield · Tata Motors · Tata Hitachi · CAT · Mahindra Rise, etc. |
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No. of Employees : |
Not Divulged |
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Bankers : [As On 31.03.2017] |
·
Citibank NA Jeevan
Vihar Building, 3 Sansad Marg, New Delhi - 110001, India · HDFC Bank Limited HDFC Bank
Housesenapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India
· Yes Bank Limited Nehru Center, 9th
Floor, Discovery of Indiadr. Annie Beasant Road, Worli, Mumbai - 400018,
India · IndusInd Bank Limited · DBS Bank Limited |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
|
|
Financial Institution : [As On 31.03.2017] |
· Toyota Financial Services India Limited No. 21,
Centropolis, 1st Floor, 5th Cross, Langford Road, Shanti Nagar, Bangalore -
560025, Karnataka, India · Citicorp Finance (India) Limited 3 Local Shopping
Complex (LSC), Near Madangiri, Pushp Vihar Near Birla Vidhya Niketan, New
Delhi - 110062, India · TATA Capital Financial Services Limited · GE Money Financial Services Private Limited |
|
|
|
|
Auditors : [As On 31.03.2017] |
|
|
Name : |
S. R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View, Corporate Tower -B, Sector -42, Gurgaon-122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS9180N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint venture : [As On 31.03.2017] |
· Sandhar Han Sung Technologies Private Limited, India [U28100DL2014PTC268126] · Sandhar Ecco Green Energy Private Limited, India [U74900DL2013PTC252844] · Indo Toolings Private Limited, India [U28931MP2008PTC034503] · Jinyoung Sandhar Mechatronics Private Limited [U36990HR2017PTC068220] |
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Subsidiary company
: [As On 31.03.2017] |
· Sandhar Tooling Private Limited, India [U28939DL2002PTC114374] · Sandhar Technologies Barcelona SL · Sandhar Strategic Systems Private Limited [U28994HR2016PTC065726] · PT Sandhar Indonesia · Sandhar Euro Holding co. · Sandhar Euro Holdings BV |
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|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : [As On
31.03.2017] |
· Swaran Enterprises · Sandhar Infosystems Limited · Sandhar Intelli-Glass Solutions Limited · Sandhar Estates Private Limited, India [U51109DL2000PTC106728] · Jubin Finance and Investment Limited, India [U65910HR1995PLC032801] · YSG Estates Private Limited, India [U45201DL2001PTC113333] · Haridwar Estates Private Limited, India [U45400HR2007PTC037085] |
CAPITAL STRUCTURE
AS ON 31.03.2018
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : INR 601.907
Million
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
68000000 |
Equity Shares |
INR 10/- each |
INR 680.000 Million |
|
200000 |
Preference Shares |
INR 100/- each |
INR 20.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 700.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51154564 |
Equity Shares |
INR 10/- each |
INR 511.546 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
601.907 |
511.546 |
511.546 |
|
(b) Reserves & Surplus |
5633.865 |
2371.692 |
2094.524 |
|
(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) |
6235.772 |
2883.238 |
2606.070 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
10.025 |
1738.099 |
1548.744 |
|
(b) Deferred tax liabilities (Net) |
56.532 |
62.215 |
62.887 |
|
(c)
Other long term liabilities |
0.376 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
66.933 |
1800.314 |
1611.631 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
739.940 |
940.116 |
571.615 |
|
(b)
Trade payables |
2894.681 |
1854.444 |
1784.892 |
|
(c)
Other current liabilities |
3168.264 |
858.961 |
975.180 |
|
(d)
Short-term provisions |
115.167 |
111.935 |
120.389 |
|
Total
Current Liabilities (4) |
6918.052 |
3765.456 |
3452.076 |
|
|
|
|
|
|
TOTAL |
13220.757 |
8449.008 |
7669.777 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5191.696 |
4632.269 |
4145.619 |
|
(ii)
Intangible Assets |
142.619 |
113.069 |
128.105 |
|
(iii)
Capital work-in-progress |
636.016 |
215.015 |
399.310 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
492.771 |
354.077 |
398.903 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
86.663 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
130.795 |
143.096 |
153.937 |
|
Total
Non-Current Assets |
6680.560 |
5457.526 |
5225.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1219.598 |
957.146 |
889.917 |
|
(c)
Trade receivables |
2348.012 |
1715.290 |
1346.716 |
|
(d)
Cash and cash equivalents |
2544.886 |
34.376 |
18.130 |
|
(e)
Short-term loans and advances |
144.019 |
155.490 |
153.920 |
|
(f)
Other current assets |
283.682 |
129.180 |
35.220 |
|
Total
Current Assets |
6540.197 |
2991.482 |
2443.903 |
|
|
|
|
|
|
TOTAL |
13220.757 |
8449.008 |
7669.777 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
17213.997 |
13686.564 |
12907.116 |
|
|
|
Other Income |
44.407 |
60.085 |
30.136 |
|
|
|
TOTAL |
17258.404 |
13746.649 |
12937.252 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10714.778 |
8826.705 |
8307.979 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(33.142) |
(49.077) |
(16.807) |
|
|
|
Employees benefits expense |
2020.166 |
1727.986 |
1497.746 |
|
|
|
|
372.283 |
0.000 |
0.000 |
|
|
|
CSR Expenditure |
0.000 |
9.370 |
4.374 |
|
|
|
Exceptional Items |
0.000 |
44.659 |
102.533 |
|
|
|
Other expense |
2275.080 |
1915.434 |
1821.777 |
|
|
|
TOTAL |
15349.165 |
12475.077 |
11717.602 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1909.239 |
1271.572 |
1219.650 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
381.187 |
355.579 |
373.444 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1528.052 |
915.993 |
846.206 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
551.279 |
491.844 |
465.749 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
976.773 |
424.149 |
380.457 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
299.508 |
86.877 |
110.997 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
677.265 |
337.272 |
269.460 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
13.21 |
6.59 |
5.27 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
NA |
614.891 |
698.271 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
NA |
431.212 |
1184.036 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
NA |
681.767 |
1435.294 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
49.79 |
45.74 |
38.08 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.33 |
7.98 |
9.58 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
98.61 |
77.11 |
78.58 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.57 |
1.33 |
1.37 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.32 |
0.26 |
0.26 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.52 |
0.65 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.12 |
0.93 |
0.81 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.11 |
1.31 |
1.32 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.96 |
1.72 |
1.79 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.01 |
3.58 |
3.27 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.93 |
2.46 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
5.12 |
3.99 |
3.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.86 |
11.70 |
10.34 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.95 |
0.79 |
0.71 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.77 |
0.54 |
0.45 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.34 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.25 |
5.24 |
4.15 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.95 |
0.79 |
0.71 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10/- |
|
|
|
|
Market Value |
INR 385.35/- |
FINANCIAL DATA
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
511.546 |
511.546 |
601.907 |
|
Reserves & Surplus |
2094.524 |
2371.692 |
5633.865 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2606.070 |
2883.238 |
6235.772 |
|
|
|
|
|
|
long-term borrowings |
1548.744 |
1738.099 |
10.025 |
|
Short term borrowings |
571.615 |
940.116 |
739.940 |
|
Total
borrowings |
2120.359 |
2678.215 |
749.965 |
|
Debt/Equity
ratio |
0.814 |
0.929 |
0.120 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
12907.116 |
13686.564 |
17213.997 |
|
|
|
6.039 |
25.773 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
12907.116 |
13686.564 |
17213.997 |
|
Profit |
269.460 |
337.272 |
677.265 |
|
|
2.09% |
2.46% |
3.93% |
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 |
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 |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G74740796 |
100149657 |
YES BANK LIMITED |
28/12/2017 |
- |
- |
400000000.0 |
NEHRU CENTER, 9TH FLOOR,
DISCOVERY OF INDIADR. ANNIE BEASANT ROAD, WORLIMUMBAIMH400018IN |
|
2 |
G58303512 |
100129479 |
CITICORP FINANCE
(INDIA) LIMITED |
28/09/2017 |
- |
- |
500000000.0 |
3 LOCAL SHOPPING COMPLEX
(LSC), NEAR MADANGIRI,PUSHP VIHAR NEAR BIRLA VIDHYA NIKETANNEW
DELHIDL110062IN |
|
3 |
G55686729 |
100126577 |
HDFC BANK LIMITED |
29/07/2017 |
- |
- |
5363264.0 |
SENAPATI BAPAT
MARGLOWER PARELWEST MUMBAIMH400013IN |
|
4 |
G41855875 |
100092155 |
TOYOTA FINANCIAL
SERVICES INDIA LIMITED |
30/03/2017 |
- |
- |
1750000.0 |
NO. 21,
CENTROPOLIS, FIRST FLOOR, 5TH CROSS,LANGFORD ROAD, SHANTI
NAGARBANGALOREKA560025IN |
|
5 |
G41287616 |
100090471 |
HDFC BANK LIMITED |
21/03/2017 |
- |
- |
600000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
6 |
G49735905 |
100086379 |
HDFC BANK LIMITED |
21/03/2017 |
17/07/2017 |
- |
250000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
7 |
G38918108 |
100084837 |
INDUSIND BANK
LIMITED |
15/03/2017 |
- |
- |
162800000.0 |
DR. GOPAL DAS
BUILDING,28, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
8 |
G36167815 |
100077868 |
RBL BANK LIMITED |
24/01/2017 |
- |
- |
200000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMH416001IN |
|
9 |
G36169662 |
100077874 |
HDFC BANK LIMITED |
28/11/2016 |
- |
- |
250000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
10 |
G36168904 |
100049714 |
YES BANK LIMITED |
26/08/2016 |
31/01/2017 |
- |
150000000.0 |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIADR. ANNIE BESANT ROAD, WORLI, MUMBAIMUMBAIMH400018IN |
|
11 |
G05223847 |
100031392 |
HDFC BANK LIMITED |
30/05/2016 |
- |
- |
10462000.0 |
HDFC BANK HOUSE,
SENAPATI BAPAT MARGLOWER PAREL (WEST)MUMBAIMH400013IN |
|
12 |
G36905578 |
100032954 |
DBS BANK LTD |
28/05/2016 |
31/01/2017 |
- |
300000000.0 |
DLF CAPITOL POINT,
BABA KHARAK SINGH MARG,CONNAUGHT PLACEDELHIDL110001IN |
|
13 |
G36906170 |
100021247 |
RBL BANK LIMITED |
11/02/2016 |
31/01/2017 |
- |
240000000.0 |
SHAHUPURI,KOLHAPUR,KOLHAPURMA416001IN |
|
14 |
G08147746 |
10584303 |
HDFC BANK LIMITED |
13/07/2015 |
25/05/2016 |
- |
250000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
15 |
C80564891 |
10551667 |
HDFC BANK LIMITED |
31/01/2015 |
04/02/2016 |
- |
500000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
16 |
G79855698 |
10545999 |
YES BANK LIMITED |
12/12/2014 |
19/02/2018 |
- |
680000000.0 |
NEHRU CENTER, 9TH FLOOR,
DISCOVERY OF INDIADR. ANNIE BEASANT ROAD, WORLIMUMBAIMH400018IN |
|
17 |
C79767844 |
10523821 |
INDUSIND BANK
LIMITED |
29/09/2014 |
04/02/2016 |
- |
250000000.0 |
DR. GOPAL DAS
BHAWAN,28, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
18 |
C79652772 |
10529499 |
YES BANK LIMITED |
06/09/2014 |
04/02/2016 |
- |
85000000.0 |
NEHRU CENTER, 9TH
FLOOR, DISCOVERY OF INDIA,DR. ANNIE BEASANT ROAD, WORLIMUMBAIMH400018IN |
|
19 |
G51000107 |
10475546 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
10/01/2014 |
25/07/2017 |
- |
450000000.0 |
ONE FORBES,DR. V.
B. GANDHI MARG, FORTMUMBAIMH400001IN |
|
20 |
C79765830 |
10468081 |
INDUSIND BANK
LIMITED |
26/12/2013 |
04/02/2016 |
- |
80000000.0 |
DR. GOPAL DAS
BHAWAN,28, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
21 |
C79651824 |
10459425 |
YES BANK LIMITED |
07/11/2013 |
04/02/2016 |
- |
150000000.0 |
NEHRU CENTER, 9TH
FLOOR, DISCOVERY OF INDIA,DR. ANNIE BEASANT ROAD, WORLIMUMBAIMH400018IN |
|
22 |
C80228711 |
10450875 |
ICICI BANK LIMITED |
26/09/2013 |
04/02/2016 |
- |
150000000.0 |
LANDMARK RACE
COURSE CIRCLE,ALKAPURIBARODAGJ390015IN |
|
23 |
G06745772 |
10450872 |
ICICI BANK LIMITED |
26/09/2013 |
25/05/2016 |
- |
100000000.0 |
ICICI BANK
LIMITEDALKAPURIBARODAGJ390015IN |
|
24 |
C79781811 |
10344554 |
INDUSIND BANK
LIMITED |
29/03/2012 |
04/02/2016 |
- |
316000000.0 |
DR. GOPAL DAS
BHAWAN,28, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
25 |
C78651973 |
10287334 |
STATE BANK OF
INDIA |
30/04/2011 |
04/02/2016 |
- |
202000000.0 |
OVERSEAS BRANCH, JAWAHAR
VYAPAR BHAWAN, 1,TOLSTOY MARGNEW DELHIDL110001IN |
|
26 |
C79770996 |
10257302 |
INDUSIND BANK
LIMITED |
18/11/2010 |
04/02/2016 |
- |
5865300.0 |
DR. GOPAL DAS
BHAWAN,28, BARAKHAMBA ROADNEW DELHIDL110001IN |
|
27 |
A68621325 |
10172726 |
STATE BANK OF
INDIA |
18/08/2009 |
- |
- |
260000000.0 |
OVERSEAS
BRANCHJAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARGNEW DELHIDL110001IN |
|
28 |
G60496270 |
90057848 |
CITI BANK N.A. |
26/08/2002 |
10/10/2017 |
- |
560500000.0 |
JEEVAN BHARTI BUILDING,4TH
FLOOR124 CONNAUGHT CIRCUS, CONNAUGHT PLACENEW DELHIDL110001IN |
|
29 |
G45874781 |
10360168 |
DBS BANK LTD |
01/06/2012 |
04/02/2016 |
19/05/2017 |
224000000.0 |
CAPITOL POINT,
BABA KHARAK SINGH MARG,CONNAUGHT PLACENEW DELHIDL110001IN |
|
30 |
G42738740 |
10314129 |
INDUSIND BANK
LIMITED |
10/09/2011 |
04/02/2016 |
17/04/2017 |
56250000.0 |
DR. GOPAL DAS
BHAWAN,28, BARAKHAMBA ROADNEW DELHIDL110001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2018 (INR
In Million) |
31.03.2017 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others |
|
492.500 |
|
|
|
|
|
Total |
NA |
492.500 |
FIXED ASSETS: [As
On 31.03.2017]
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
PRESS RELEASES
SANDHAR TECHNOLOGIES
SET TO MAKE IPO DEBUT TODAY
Apr 2, 2018
Auto component making company Sandhar Technologies had of late concluded its initial public offer (IPO) and is now set to make its stock market debut on April 2, 2018 i.e. today.
The two-wheeler locking systems company’s INR 5120.000 million IPO was open from March 19-21 and was subscribed at 6.2 times. The public offer had an all-new issue of shares of INR 3000.000 million and an offer for sale of up to 64 lakh shares, which included the anchor portion of 46,30,842 shares.
The price band was fixed at INR 327-332. Capital market companies, such as
ICICI Securities and Axis Capital were the lead managers to the offer. The
scrip will be listed on India’s leading stock exchanges – Bombay Stock
Exchange (BSE) and National
Stock Exchange (NSE).
Started in 1987, Sandhar Technologies Limited is based in New Delhi and is involved in designing and manufacturing of various kinds of automotive components and systems, largely around on safety and security systems of vehicles.
The company is a market-leader in two-wheeler locking systems market and the commercial vehicle rear view market all over India. Moreover, it is one of the two largest companies in the sector of commercial vehicle locking systems market. It is also one of the two largest manufacturers of operator cabins, along with being the largest player in the excavator cabins market.
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SANDHAR TECHNOLOGIES
IPO SUBSCRIBED 6.18 TIMES
Mar 22, 2018
The initial public offer of auto component maker Sandhar Technologies was subscribed 6.18 times on the final day of bidding today.
The INR 512-million IPO received bids for
67140270 shares against the total issue size of 1,08,72,661 shares, data
available with the NSE till 2000 hrs showed.
Qualified institutional buyers (QIBs) category was subscribed 14.5 times, non institutional investors 6.39 times and retail investors 1.31 times, merchant banking sources said.
The public offer consists of fresh issue of shares worth INR 3000.000 million and an offer for sale of up to 64 lakh shares (including anchor portion of 46,30,842 shares).
The price band for the offer is INR 327-332.
Till yesterday, the offer was subscribed 40 per cent.
Sandhar Technologies on Friday raised INR 1540.000
from anchor investors.
The company plans to use a portion of the net proceeds towards repayment of
certain loan facilities and for other general corporate purposes.
The shares are proposed to be listed on BSE and NSE.
AUTO COMPONENT MAKER
SANDHAR TECHNOLOGIES PLANS INR 4000.000 MILLION IPO
NOV 13, 2017
The Gurugram-based company has appointed Axis Capital and ICICI Securities as merchant bankers to advise it on its plans to list on the stock exchanges
Auto component manufacturer Sandhar Technologies plans to float an initial public offering this financial year to raise INR 4000.000 Million, according to a source familiar with the development. The Gurugram-based company has appointed Axis Capital and ICICI Securities as merchant bankers to advise it on its plans to list on the stock exchanges though it could not be independently confirmed.
The IPO will mostly comprise issue of fresh shares with Gaurav Dalmia-promoted GTI Capital, which is a minority shareholder in the company, likely to use the opportunity for an exit. Dalmia is a director on the board of the company.
Sandhar makes door handles for cars, wheel rims, locking systems, vision systems, clutch assemblies, brake panels and many other products auto products. The company, promoted by Chairman DN Davar and his family, counts Honda Cars as one of its biggest customers. The list includes Suzuki, Yamaha, Bosch, Korea’s Doosan and Hyundai Construction Equipment with TVS, Hero Group and BEML figuring among the local clients.
Started 30 years ago as a supplier of sheet metal products to Hero Honda
(now Hero MotoCorp), the company today has 33 manufacturing plants in India and
across the globe with an employee base exceeding 6,500 people. The company has
several plants in Gurugram itself, and then in Haridwar, Bengaluru, Alwar,
Chennai, Hosur, Indore, Mysore and Pune besides manufacturing units in Spain,
Poland and Mexico.
According to data available on the stock exchanges, 19 companies have
raised a little over INR 260000.000 million via IPOs during the first six
months of the current financial year (April-March).
This April-September IPO collections have already been topped with just
four issues -- those of Reliance Nippon Lifer Asset Management, HDFC Standard Life
Insurance Company, General Insurance Corporation of India and The New India
Assurance Company -- having raised nearly as much in the period since October
1.
SANDHAR TECHNOLOGIES
TIES UP WITH MALAYSIA'S MCE HOLDINGS TO SELL AUTO ANCILLARY PRODUCTS
JANUARY 3, 2017
Malaysian startup Multi-Code Electronics Industries, a subsidiary of MCE Holdings Berhad, on Tuesday, January 3, signed a memorandum of understanding (MoU) with Gurugram-based Sandhar Technologies for the production, marketing and supply of its existing range of products for automobile manufacturers located in India.
Domestic car, two wheeler sales in December likely to be weak, say analysts
Sandhar Technologies commenced operations in 1987 as a supplier to Hero MotoCorp (formerly Hero Honda Motors Limited) for sheet metal components. The company later expanded into manufacturing mirror plates, zinc die casting, plastic injection moulding and body coloured paint shops.
Earlier, Sandhar Technologies had entered into technical collaborations with South Korea's JEM Techno for manufacturing relays and with Taiwan's Lyssen Enterprises for manufacturing instrument clusters, gauges and senders.
The MoU, which will initially remain effective for one year and will then automatically be extended for subsequent periods of one year each, would also pave the way for the consultation and exchange of information and technology between the companies as MCE Holdings expects to further penetrate the India market. The agreement -- if both the parties consider -- would be further extended to other electronic and mechatronic parts and systems.
"This MOU will enable MCE to further penetrate the India market, consistent with its strategy to increase its presence in the Asia region. MCE and Sandhar will be able to rationalise the cost effectiveness in the manufacture and supply of products and improve on overall competitiveness for the India market," MCE Holdings said, the Star Online reported.
Multi-Code Electronics offers parking sensors, functional switches, ignition key sets, and other anti-theft alarming devices.
SANDHAR TECHNOLOGIES
INKS MOU WITH WHETRON ELECTRONICS FOR AUTOMOBILE PARTS SUPPLY
26 April, 2017
Sandhar Technologies Ltd entered into a technical collaboration with
Whetron Electronics (Suzhou) Co Ltd to supply rear parking sensors, cameras,
automatic parking, digital video recorders, warning systems, blind spot
detection, anti-theft systems, tyre pressure monitoring, control modules,
radars, head-up-display, USB chargers, battery management system, auto
lighting, etc., to Indian original equipment manufacturers.
On the occasion, Jayant Davar, founder, co-chairman and managing
director of Sandhar Technologies, said, “The increased focus on safety and
comfort of drivers and passengers as well as the much anticipated regulatory
changes makes it imperative for us to be prepared to serve our customers with
the latest technology products.”
Founded in 1985, the Sandhar Group manufactures lock kits, mirrors,
handles, latches, hinges, stamped and tubular components, plastic injected
components, zinc and aluminium pressure die castings, relays, fuel level
senders, operator cabins, canopies, housings, panels, switchboards, control
cabinets, molds, dies and structural parts for off-highway vehicles. It also
supplies steel wheel rims and assemblies, handle bars, clutch and brake panels
to the two wheeler manufacturers.
Taiwan’s Whetron Group, established in 1982, is a leading supplier in
automotive electronics and a global supplier to many of the vehicle
manufacturers around the world such as Honda, Renault, Suzuki, Toyota, Hyundai,
Mitsubishi Yamaha, Piaggio, PSA, among others, for some of its products.
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 67.82 |
|
|
1 |
INR 90.17 |
|
Euro |
1 |
INR 78.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
YES |
|
--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.