MIRA
INFORM REPORT
|
Report Date : |
15th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ANAND
NVH PRODUCTS PRIVATE LIMITED |
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Registered Office : |
2686,
Kashmere Gate, Delhi – 110 006,India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
07.06.1988 |
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Com. Reg. No.: |
55-31984 |
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CIN No.: [Company
Identification No.] |
U74899DL1988PTC031984 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA12466G |
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PAN No.: [Permanent
Account No.] |
AAECA0297J |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
and Exporter of Rubber and Rubber to Metal Bonded Automotive Parts. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
375000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are correct and as
per commitments. The company can be considered good for normal business
dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
2686,
Kashmere Gate, Delhi – 110 006,India |
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E-Mail : |
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Website : |
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Administrative
Office : |
39th
K M Stone, N H – 8, Begumpur Khatola Industrial Area, Sector 35, Gurgaon,
Haryana, India |
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Tel.
No.: |
91-124-24030580
to 84 |
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Fax
No.: |
91-124-24030585/
24030586 |
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E-Mail
: |
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Area : |
75000
sq.ft. |
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Location : |
Industrial
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Factory
1 : |
39th
K M Stone, N H – 8, Begumpur Khatola Industrial Area, Sector 35, Gurgaon,
Haryana, India |
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Tel.
No.: |
91-124-24030580
to 84 |
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Fax
No.: |
91-124-24030585/
24030586 |
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E-Mail
: |
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Area : |
75000
sq.ft. |
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Location : |
Industrial
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Delhi
Office : |
‘Anbros
House’, 25/31 East Patel Nagar, New Delhi – 110 008, India |
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Tel.
No.: |
91-11-25763608/
3609/25850108 |
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Fax
No.: |
91-11-25763610 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr.
Bhupinder Singh Anand |
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Designation : |
Director
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Address : |
H-5/2,Model
Town, Delhi – 110 009, India. |
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Date of Birth/Age : |
09.08.1943 |
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Date of Appointment : |
06.01.1997 |
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Name : |
Mr.
Gurmeet Singh Anand |
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Designation : |
Director
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Address : |
H-5/2,Model
Town, Delhi – 110 009, India. |
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Date of Birth/Age : |
01.10.1967 |
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Date of Appointment : |
06.01.1997 |
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Name : |
Mr. Kanwardeep
Singh Anand |
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Designation : |
Director
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Address : |
H-5/2,Model
Town, Delhi – 110 009, India. |
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Date of Birth/Age : |
04.08.1972 |
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Date of Appointment : |
06.01.1997 |
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Name : |
Mr.
Savneet Singh Anand |
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Designation : |
Director
and Secretary |
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Address : |
H-5/2,Model
Town, Delhi – 110 009, India. |
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Date of Birth/Age : |
12.12.1971 |
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Date of Appointment : |
01.04.2003 |
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KEY EXECUTIVES
|
Name
: |
Nity
Anand Singh and Company |
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Designation
: |
Company
Secretary |
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Address
: |
14, 2nd
Floor, Arjun Nagar,Safdarjung Enclave, New Delhi – 110 029, India |
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Tel. No.: |
91-11-26713700 |
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Tele Fax No.: |
91-11-26714700 |
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E-Mail : |
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MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
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Mr.
Bhupinder Singh Anand |
50020 |
40.34 |
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Mr.
Gurmeet Singh Anand |
8210 |
6.62 |
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Mr.
Harsheen Kaur Anand |
100 |
0.08 |
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Mr.
Inderjeet Singh Anand |
5100 |
4.11 |
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Mr.
Kanwardeep Singh Anand |
36470 |
29.42 |
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Mr.
Savneet Singh Anand |
100 |
0.08 |
|
Kromex
International Private Limited |
24000 |
19.35 |
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Total
|
124000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Exporter of Rubber and Rubber to Metal Bonded Automotive Parts. |
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Products : |
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Exports to : |
USA,
Germany, Italy and other OEM’s in the Automobile Industry. |
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Imports from : |
Germany,
China, Taiwan and Korea. |
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PRODUCTION
STATUS
|
Particulars |
|
Unit |
Installed Capacity |
Actual Production |
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Automobiles Components |
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Pieces |
6486000 |
-- |
GENERAL
INFORMATION
|
Customers : |
·
Lord
Corporation, USA ·
Cooper
Standard, USA ·
ZF
Boge Elastmetall, Germany ·
ContiTech
Vibration Control, Germany ·
Lord
Italia, Italy ·
Fiat
Auto, Italy ·
Mack
Truck, USA
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No. of Employees : |
Around
450 |
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Bankers : |
I P Estate Branch, New Delhi – 110 002, India.
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Banking Relations : |
Satisfactory
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Auditors : |
S P
Nagrath and Company Chartered
Accountants |
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Address : |
A-380,
Defense Colony, New Delhi – 110 024, India. |
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Tel. No.: |
91-11-261552244/
2245/ 2246 |
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E-Mail : |
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Subsidiaries : |
·
Anand Motor Products Private Limited ·
Kromex International Private Limited ·
Anand Industrial Products Private Limited ·
AMP Overseas Private Limited
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CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
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|
190000 |
Equity
Shares |
Rs. 100/- |
Rs. 19.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
124000 |
Equity
Shares |
Rs. 100/- |
Rs. 12.400 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
|
12.400 |
12.400 |
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2] Reserves & Surplus |
|
84.461 |
12.865 |
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NETWORTH |
|
96.861 |
25.265 |
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LOAN FUNDS |
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1] Secured Loans |
|
45.727 |
26.187 |
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2] Unsecured Loans |
|
26.961 |
38.991 |
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TOTAL BORROWING |
|
72.688 |
65.178 |
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DEFERRED TAX LIABILITIES |
|
1.132 |
0.133 |
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TOTAL |
|
170.681 |
90.576 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
128.090 |
86.227 |
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Capital work-in-progress |
|
3.288 |
3.118 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
21.838 |
14.254 |
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Sundry Debtors |
|
5.503 |
11.372 |
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Cash & Bank Balances |
|
4.257 |
5.550 |
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Loans & Advances |
|
43.790 |
6.091 |
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Total Current Assets |
|
75.388 |
37.267 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
36.030 |
36.042 |
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Provisions |
|
0.060 |
0.000 |
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Total Current Liabilities |
|
36.090 |
36.042 |
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Net Current Assets |
|
39.298 |
1.225 |
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MISCELLANEOUS EXPENSES |
|
0.005 |
0.006 |
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TOTAL |
|
170.681 |
90.576 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
233.931 |
82.537 |
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Profit/(Loss)
Before Tax |
|
72.656 |
10.745 |
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Provision
for Taxation |
|
1.060 |
0.000 |
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Profit/(Loss)
After Tax |
|
71.596 |
10.745 |
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Export
Value |
|
208.240 |
80.262 |
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Import
Value |
|
2.544 |
0.000 |
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Total
Expenditure |
|
152.849 |
68.325 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
30.61 |
13.02 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
31.06 |
13.02 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
34.63 |
8.49 |
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Return
on Investment (ROI) (PBT/Networth) |
|
|
73.92 |
42.53 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.75 |
2.58 |
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Current
Ratio (Current
Asset/Current Liability) |
|
|
2.09 |
1.03 |
LOCAL AGENCY
FURTHER INFORMATION
Subject exports Strut Mounts, Transmission
Mounts, Conventional
Engine Mounts, Body and Chassis Mounts, Bellows and Bushings, Drive Line and
Suspension Bushings, Hydraulic Engine Mounts.
Subject
imports Machineries, Injection Presses, Raw material, Rubber and Rubber
Material.
Quality
Assessment
ISO/TS 16949:2002 and ISO 14001 Certified Company
The subject company is engaged in the business of manufacturers and exporters of strut mounts, bellows and bushings, hydraulic engine mounts, drive line & suspension bushings, body & chassis mounts, conventional engine mounts and transmission mounts. The subject company started manufacturing rubber and rubber-to-metal bonded products in 2002. It operates with one plant located at Gurgaon, Haryana having a capacity of 7 million pieces per annum. Its production technology consists of desma injection, compression and transfer moulding machines.
The
subject company caters to the HCV, LCV and UV segments and supplies only to
International OEMs. It is currently engaged in a contract to supply parts as
OEM fitment to Mack truck in US, Fiat Auto, Italy.
Profile
Anand NVH products Private
Limited is a part of the largest non-tire rubber group in India and is a
leading manufacturer of rubber and rubber to metal bonded products for a
variety of industries including automotive in the United States, Europe and
other parts of the world.
For sophisticated
vibration, shock, motion or noise control challenges, Anand NVH has the
expertise and experience to engineer the precise solution you need.
The long term goal of Anand
NVH is to be one of the leading suppliers in the automotive component industry
catering to the requirements of vehicle manufacturers and first tier component
manufacturers in the world.
It accomplish this by
producing parts and systems that meet customer requirements and price
expectations. Every product is custom designed for performance, quality and
high-volume assembly and inspection.
They are currently engaged
in a contract to supply parts as OEM fitment to Mack truck in USA, FIAT AUTO in
Italy and SACHS-BOGE in Germany. Apart from this we work under contract
manufacturing program with leading first tier manufacturers of rubber and
rubber to metal bonded parts in USA and Europe.
Products
To provide the best to
customers is our utmost priority. At Anand NVH every product is custom designed
for performance and quality so as to have the maximum driving comfort and
significant noise reduction. This is the philosophy of success behind Anand
NVH’s rubber to metal components.
The wide range of our
products includes:
·
Lord
Corporation, USA
·
Cooper
Standard, USA
·
ZF
Boge Elastmetall, Germany
·
ContiTech
Vibration Control, Germany
·
Lord
Italia, Italy
·
Fiat
Auto, Italy
·
Mack
Truck, USA
·
SACHS-BOGE,
Germany
Customers
At Anand NVH total customer
satisfaction is our foremost concern and we recognize the value strong customer
relationship brings to our business. We cater to the requirements of both
domestic as well as international sectors of the Market in both automotive and
non-automotive segments.
They are currently engaged
in a contract to supply parts as OEM fitment to Mack truck in USA, FIAT AUTO in
Italy and SACHS-BOGE in Germany. Apart from this we work under contract
manufacturing program with leading first tier manufacturers of rubber and
rubber to metal bonded parts in USA and Europe.
Contact
Administrative
Office
Anand
NVH Products Private Limited
39 km stone, N.H. 8, Begumpur Khatola Indl. Area, Sector-35, Gurgaon –122 001,
Haryana, India.
Tel. No.: 91-124-5030580-84
Fax No.: 91-124-5030585-56
Email : anp@vsnl.net
Delhi Office
'Anbros House',
25/31, East Patel Nagar, New Delhi – 110 008, India
Tel. No: 91-11-25763608/ 25763609/ 25850108.
Fax No.: 91-11-25763610.
Email : kromex@vsnl.com
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.01 |
|
UK
Pound |
1 |
Rs.84.91 |
|
Euro |
1 |
Rs.57.48 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|