MIRA
INFORM REPORT
|
Report Date : |
13.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
BRIDGESTONE ACC INDIA PRIVATE LIMITED |
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Registered Office : |
Plot
No. 12, Kheda Growth Centre, Post Sagore, Pithampur, Dist. - Dhar 454 774,
Madhya Pradesh |
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Country : |
India |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
27.02.1996 |
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Com. Reg. No.: |
10-10548 |
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CIN No.: [Company
Identification No.] |
U25111MP1996PTC010548 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BPLB00992F |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturing, Purchasing, Selling, Importing, Exporting and
Dealing of Tyres, Tube Flaps and other Rubber Goods. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a joint venture of ACC [The Associated Cement Company] and Bridgestone.
The company has improved it’s performance. However, accumulated losses are
yet to be wipe out. It’s
payments are usually correct and as per commitments. The company can be
considered normal for business dealings at usual trade terms and condition
with Slight Caution. |
LOCATIONS
|
Registered
Office, Head Office and Plant : |
Plot
No. 12, Kheda Growth Centre, Post Sagore, Pithampur, Dist. - Dhar 454 774,
Madhya Pradesh, India |
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Tel. No.: |
91-7292-255021 (10 lines) |
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Fax No.: |
91-7292-255037 / 39 / 255012 |
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Website : |
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Sales and Marketing Head Office : |
4th Floor,
'A' Wing, Trade Star Building, M. V. Road, Andheri Kurla Road, |
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Tel.
No.: |
91-22-2826 6980 / 86 / 832 |
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Fax
No.: |
91-22-2826 6833 |
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E-Mail
: |
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Headquarters : |
196 Green hill Road, Eastwood,
S.A 5063, Australia Phone: 61-8-8206-0200 Fax: 61-8-8206-0299
223 Rockwood, Yagoona, NSW 2199
Australia (P.O. Box 151, Regent Park NSW
2143) Phone: 61-2-9722-6111 Fax: 61-2-9722-6199 |
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Overseas branches: |
·
Bridgestone
Motorcycle Tyres - Eurotread (Aust) Pty. Limited 10-12 Gatwick Road, Bayswater
3153 Phone: 03 9729 8955 Fax: 03 9720 5068 ·
Go-Kart Racing
Tyres - Drew Price Engineering Pty. Limited 57-59 Nantilla Road, Clayton
North 3168 Phone: 03 9545 3944 Fax: 03 9545 3743 e-mail: Kart@dpeng.com.au website: www.dpeng.com.au Mexico ·
Mexico Office
(Mexico) Bridgestone
/Firestone De Mexico, S.A. DE C.V. Darwin 74, Col.
Anzures, Mexico D.F. 11590, Mexico Phone: 52-5-626-6600 Fax: 56-2-290-6371 ·
Thai Bridgestone
Company Limited (Office) 16th Floor, Abdulrahim Place, 990
Rama IV Road, Silom, Bangrak, Bangkok 10500, Thailand Phone: 66-2-636-1505~20, Fax: 66-2-636-543-4 ·
Bridgestone NCR
Company Limited 12, 12/1, 12/2,
Wiwatthanawieng Road, Sampanthawong Bangkok 10100, Thailand Phone: 66-2-6226987~90 Fax: 66-2-6226991 ·
Cairo Office
(Egypt) c/o Mitsui & Company
Limited, 19th Floor, Nile Tower Building 21-23, Giza Street, Giza, Arab
Republic of Egypt Phone: 20-2-5710830 Fax: 20-2-5700492 Telex: 21494 Answer Back: 21494 MITUI UN ·
Bridgestone ACC
India Limited Plot No.12, Kheda Growth
Centre, Post Sagore 454 774, Dist, Dhar, Madhya Pradesh Phone: 91-7292-56459-62 Fax: 91-7292-56395-98 ·
Frankfurt Office
(Germany) Homburger Str.71 61118 Bad
Vilbel, Deutschland Phone: 49-06101-48341 Fax: 49-06101-48351 ·
P. T. Bridgestone
Tyre Indonesia (Office)
(Tromol Post No. 3390, JKT) Phone: 62-21-336591 Fax: 62-21-336345 ·
Riyadh Office
(Saudi Arabia) c/o Abdullah Said Bugshan
& Bros, P.O. Box 80, Riyadh 11411, Kingdom of Saudi Arabia Phone, Fax: 966-1-405-1047 ·
Jeddah Office
(Saudi Arabia) c/o Abdullah Said Bugshan
& Bros, P.O. Box 378, Jeddah 21411, Kingdom of Saudi Arabia Phone: 966-2-660-1734(0961) Fax: 966-2-669-6995 Telex: 602677, Answer Back:
602677/2 ASBR SJ ·
Dubai Office
(United Arab Emirates) P. O. Box 55630, Dubai, United
Arab Emirates Phone: 971-4-223396(223467), Fax: 971-4-283030 Telex: 48233, Answer Back:
48233 BSTRE EM ·
Nairobi Office
(Kenya) c/o Firestone East Africa
(1969) Limited, P.O. Box 30429, Nairobi, Kenya Phone: 254-2-534919, Fax: 254-2-534238 Telex: 24052 ·
Bridgestone Global
Engineering Centre Menara Luxor Level 6 Unit 1
& Unit 2 Persiaraan Tropicana 47410 Petaling Jaya Selangor Darul Ehsan, Malaysia Phone: 60-3-7112800 Fax: 60-3-7112500 ·
Bridgestone
Engineered Products of Asia, SDN. BHD. Menara Luxor Level 6 Unit 1
& Unit 2, Persiaraan Tropicana 47410 Petaling Jaya, Selangor
Darul Ehsan, Malaysia Phone: 60-3-7112800 Fax: 60-3-7112500 ·
Bridgestone
Armstrong (M) SDN. BHD. No. 2&4, Hicom Industrial
Estate, Jalan, Sekincan, Phone: 60-3-5112188 Fax: 60-3-5112378 ·
Bridgestone Rei
Komposite SDN. BHD. Lot 53 & 55, Bentong
Industrial Estate, Bentong Pahang Darul Makmur, Malaysia Phone: 60-9-222-7797 Fax: 60-9-222-7802 ·
Amman Office
(Jordan) P. O. Box 3320, Amman 11181, Jordan Phone: 962-6-5672233 Fax: 962-6-5679351 ·
Santiago Office
(Chile) C/o Mitsui Chile LTDA., Avda.
Andre's Bello No. 2711, Piso 11, Las Condes, Santiago, Chile Phone: 56-2-290-6370, Fax:
56-2-290-6371 Belgium ·
Bridgestone/Firestone
Europe S.A. Belgicastraat 9, 1930
Zaventem, Belgium Phone: 33-2-714-6700, Fax:
32-2-714-6709 ·
Bridgestone
Aircraft Tyre (Europe), S.A. Route de Bavay,
7080-Frameries, Belgium Phone: 32-65-673761, Fax:
32-65-678104 Telex: 57114, Sita Code:
QMOTPCR ·
BRISA Bridgestone
Sabanci Lastik Sanayi ve Ticaret A.S, Sabanci Centre
Kule 2 Kat : 7-8-9, 4. Levent 80745 Istanbul, Turkey Phone: 90-212-2780021 Fax: 90-212-2811681 Telex: 26145 Answer Back: 26145 LASA TR ·
Istanbul Office
(Turkey) Sabanci Centre Kule 2 Kat 7, 4
Levent 80745 Istanbul, Turkey Phone: 90-212-2780021 Fax: 90-212-2811681 Telex: 26145 Answer Back: 26145 LASA TR ·
Bridgestone /
Firestone NZ Limited 11 Great South Road (P.O Box
8184) Newmarket, Auckland, New Zealand Phone: 64-9-529-3400 Fax: 64-9-529-3490 ·
Bridgestone
C.I.S.LLC Moscow 123610,
Krasnopresnenskaya Nab 12, World Trade Centre Room 1902 (19F) Moscow Russian Federation Phone: 7-502-258-1877 Fax: 7-502-258-0756 ·
Moscow
Representative Office (C.I.S) Moscow 123610,
Krasnopresnenskaya Nab 12, World Trade Centre Room 1902 (19F) Moscow Russian Federation Phone: 7-502-258-1877 Fax: 7-502-258-0756 ·
Bridgestone
Singapore Pte. Limited 16 Raffles Quay No. 32-01,
Hong Leong Bldg., Singapore 048581, Singapore Phone: 65-220-2811,
65-220-2924 Fax: 65-224-2556, 65-224-5218 Telex: 21386, Answer Back: BSTIRE RS 21386 South Africa ·
Bridgestone/Firestone
South Africa Holdings Corner Isando & Quality
Roads, Isando 161, P. O. Box 7036 Johannesberg 2000, South Africa Phone: 27-11-974-3075 Fax: 27-11-392-4710 ·
Bridgestone Taiwan
Company Limited No. 1, Chuang Ching Road, Hsin
Chu Ind, Zone, Taiwan Phone: 886-35-981621 Fax: 886-35-981888 ·
Bridgestone
Corporation Head Office 10 -1 Kyobashi 1-Chome,
Chuo-ku, Tokyo 104-8340, Japan Phone (03) 3567-0111 Cable: BSTIRE TOKYO Telex: J22217 Answer Back: BSTIRE A J22217 USA ·
Bridgestone /
Firestone Inc. (Headquarters) 50 Century Blvd. Nashville, TN
37214, U.S.A Phone: 1-615-872-5000 Fax: 1-615-872-1599 ·
Bridgestone
Engineered Products Co., Inc. 402 Bna Drive, Suite 212
Nashville, TN 37217 U.S.A Phone: 1-615-365-0600 Fax: 1-615-365-9946 ·
Bridgestone APM
Company 1800 Industrial Drive. P.O.
Box 1505 Findlay, OH 45839 U.S.A Phone: 1-419-423-9552 Fax: 1-419-423-1232 ·
Bridgestone
Aircraft Tyre (USA), Inc. 7775 N.W. 12th Street Miami,
Florida, 33126-1889, U.S.A Phone: 1-305-592-3530 Fax: 1-305-592-0485 ·
Bridgestone
Industrial Ltd. (Industrial Rubber Products) Clifton House 83-89 Uxbridge
Road, Ealing, London W5 5TA U.K Phone: 44-181-567-8080 Fax: 44-181-567-2066 Telex: 885495 ·
Guangzhou Office
(People's Republic of China) Room No. 2770, Dong Fang
Hotel, Liu Hua Lu, Guangzhou 510018, People's Republic of China Phone: 86-20-86662329, Fax:
86-20-86512461 ·
Shenyang
Bridgestone Company Limited No. 10, Guihe Street, Tiexi
District, Shenyang, People's Republic of China Phone: 86-24-585-5181 Fax: 86-24-585-1379 ·
Beijing Office
(People's Republic of China) The Great Wall Sheraton Hotel,
Room 451, North Donghuan Road Beijing 100026, People's Republic of China Phone: 86-10-6590-5274 Fax: 86-10-6590-5396 ·
Hong Kong Office 25/F, Far East Finance Centre,
16 Harcourt Road, Hong Kong Phone: 852-28611305 Fax: 582-25273075 ·
Bridgestone
Aircraft Tyre Company (Asia) Limited 22-24 Dai Wang Street, Tai Po
Industrial Estate, Tai Po, New
Territories, Hong Kong Phone: 852-2664-8303 Fax: 852-2664-7577 Telex: 48768, Answer Back:
48768 BSATA HX |
DIRECTORS
|
Name : |
Mr. Shinichi Matsunaga |
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Designation : |
Managing Director |
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Address : |
BSID
Residential Complex, Sunshine Shopes, Colony Rau Village, Pogdambar, Indore,
Madhya Pradesh - 453331 |
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Date of Birth/Age : |
04.09.1951 |
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Date of Appointment : |
22.08.2003 |
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Name : |
Mr.
Kundapur G. Shenoy |
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Designation : |
Whole
Time Director |
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Address : |
No.
FH373, Scheme 54, Vijay Nagar, Indore, Madhya Pradesh - 453331 |
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Date of Birth/Age : |
01.01.1943 |
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Date of Appointment : |
22.08.2003 |
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Election Commission Identity Card No. : |
BZY1750090 |
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Name : |
Mr.
Koichiro Mitsuyasu |
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Designation : |
Whole
Time Director |
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Address : |
BSID
Residential Complex, Sunshine Shopes, Colony Rau Village, Pogdambar, Indore,
Madhya Pradesh - 453331 |
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Date of Birth/Age : |
10.01.1948 |
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Date of Appointment : |
12.03.2003 |
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Name : |
Mr.
Makato Tezuka |
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Designation : |
Whole
Time Director |
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Address : |
BSID
Residential Complex, Sunshine Shopes, Colony Rau Village, Pogdambar, Indore,
Madhya Pradesh - 453331 |
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Date of Birth/Age : |
02.09.1945 |
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Date of Appointment : |
13.08.2002 |
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Name : |
Mr.
Kazuyuki Eguchi |
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Designation : |
Whole
Time Director |
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Address : |
Lake
SIDC Chalet Marriott Executive Apartments, Room No. 217, 2 & 3 B Near
Chinmaynand Ashram, Powai, Mumbai – 400087, Maharashtra, India |
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Date of Birth/Age : |
11.12.1958 |
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Date of Appointment : |
01.11.2003 |
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Name : |
Mr.
Yasuhiro Itoh |
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Designation : |
Chairman
and Managing Director |
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Address : |
1423-405
Futoo-Cho, Kouhoku-Ku, Yokohama, kanagawa, Japan |
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Date of Birth/Age : |
26.12.1947 |
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Date of Appointment : |
26.07.2004 |
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Date of Ceasing : |
14.12.2004 |
KEY EXECUTIVES
|
Name : |
Mr.
Nodhi Khanna |
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Designation : |
Company
Secretary |
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Address : |
30,
Ravi Nagar, Indore, Madhya Pradesh |
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Date of Birth/Age : |
13.02.1978 |
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Date of Appointment : |
15.07.2002 |
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Date of Ceasing : |
03.10.2004 |
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Name
: |
Mr.
Shailesh Kumath |
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Designation
: |
Company
Secretary |
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Address
: |
401
Rajratan Tower, 5/3 Malharganj, Indore – 452002, Madhya Pradesh |
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Date
of Birth/Age : |
26.09.1977 |
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Date
of Appointment : |
04.10.2004 |
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Date
of Ceasing : |
21.02.2005 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Bridgestone Corporation, Tokyo, Japan |
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275299990 |
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Matsunaga
Shinichi Yukio Matsunaga |
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10 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Purchasing, Selling, Importing, Exporting and
Dealing of Tyres, Tube Flaps and other Rubber Goods. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
2000 |
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Bankers : |
·
State Bank Of India Industrial Finance Branch,
Apollo tower, 2, M.G. road, Indore - 452
001, Madhya Pradesh
26/4, Old Palasia, Indore,
Uttar Pradesh
Jeevan Prakash, Sir. P. M.
Road, Fort, Mumbai - 400001, Maharashtra |
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Banking Relations : |
Satisfactory
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Auditors : |
Deloitte Haskins & Sells Chartered Accountants 12, Dr. Annie Besant Road, Opp. Shiv Sagar Estate, Worli, Mumbai
– 400018, Maharashtra |
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Tel. No.: |
91-22-22854330 |
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Fax No.: |
91-22-22024499/22024337 |
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Holding Company : |
Bridgestone Corporation, Japan |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
275300000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2753.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
275300000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2753.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.12.2005 |
31.12.2004 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2753.000 |
2753.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
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3] Reserves & Surplus |
|
0.000 |
0.000 |
|
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4] (Accumulated Losses) |
|
[664.002] |
[818.507] |
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NETWORTH |
|
2088.998 |
1934.493 |
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LOAN FUNDS |
|
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|
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|
1] Secured Loans |
|
100.320 |
253.467 |
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2] Unsecured Loans |
|
786.555 |
748.999 |
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TOTAL BORROWING |
|
886.875 |
1002.466 |
|
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DEFERRED TAX LIABILITIES |
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|
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TOTAL |
|
2975.873 |
2936.959 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
|
2221.136 |
2230.365 |
|
|
Capital work-in-progress |
|
72.980 |
30.487 |
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
776.713 |
639.721 |
|
|
Sundry Debtors |
|
550.206 |
600.926 |
|
|
Cash & Bank Balances |
|
17.718 |
38.176 |
|
|
Loans & Advances |
|
92.447 |
69.945 |
|
Total Current Assets |
|
1437.084 |
1348.768 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
691.543 |
624.844 |
|
|
Provisions |
|
63.784 |
47.817 |
|
Total Current Liabilities |
|
755.327 |
672.661 |
|
|
Net Current Assets |
|
681.757 |
676.107 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2975.873 |
2936.959 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.12.2005 |
31.12.2004 |
|
Sales Turnover [including other income] |
|
3586.595 |
3146.425 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
159.570 |
79.415 |
|
Provision
for Taxation |
|
5.065 |
0.055 |
|
Profit/(Loss)
After Tax |
|
154.505 |
76.360 |
|
|
|
|
|
|
Export
Value |
|
2.451 |
-- |
|
|
|
|
|
|
Total
Expenditure |
|
3427.025 |
3067.010 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.12.2005 |
31.12.2004 |
|
PAT / Total Income |
(%) |
|
4.31 |
2.43 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
4.45 |
2.52 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
4.36 |
2.22 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.08 |
0.04 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.79 |
0.87 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.90 |
2.01 |
LOCAL AGENCY
FURTHER INFORMATION
The company has been accredited with ISO-14001 Certification.
The company’s fixed assets of important value include land,
buildings, plant and machinery, office equipment, furniture and fixtures and
vehicles.
Profiles
Subject is one of the world’s “Big Three” tyre manufactures. The
group’s key aim is to maintain its status in the markets in which it is
dominant whilst building on its position in emerging markets. Although Japanese
owned, it holds substantial shares in North America and an increasing share in
Europe.
The company is looking to increase its global market share to 20%
from 19% and its European market share to around 17% from 13.5%. To achieve
this the company admits that it needs to gain a much stronger presence in
Europe and North America. However, its share in North America had been
increasing by one percent each year since 1993.
The company’s main focus is on its Bridgestone and Firestone
brands through its multi-brand approach business extends to a range of budget
and private brands such as Europe and first stop in Europe or Dayton, Gillette
and Peerless in North America.
The company’s status as sole tyre supplier to the Formula one
World Championship is an important part of company’s promotional strategy and
has helped increased awareness of the company’s brand substantially in recent
years, particularly in Europe.
A leading tyre manufacturing company in the world class, has a
plant in the Western Indian state of Madhya Pradesh in Pithampur industrial
area. This plant had been facing acute water crisis during the years 1999 to
2002, when rains were scarce in the area.
The company had more than twenty tubewells out of which only four
produced water, and that to only 15000 (Fifteen Thousand) litres per day.
When S. S. Exploration Enterprises were approached for survey,
they subjected the area to a detailed scientific investigation and came up with
ground water potential zones in the area.
The points detected and recommended by for drilling yielded more
than 3,00,000 litres per day, individually.
S. S. Exploration Enterprises has to its credit several such
successful ground water exploration in the most difficult hardcore areas.
Latest Barawani school project, shalimar malwa enclave, emerald heights school,
and many other farmers, builders and colonisers.
About
Bridgestone India
Bridgestone, in a short stint of 10 years in India has grown to tremendous heights. It has become one of the major suppliers to almost all the reputed car-manufacturing companies in India. Quality has always been a premium at Bridgestone and the strict standards followed, are certified by the world's leading authority in quality certifications.
In the past decade India has seen a tremendous growth in the automobile
segment. Bridgestone has been able to spearhead its contribution in this
booming passenger car market and has become one of the preferred OEM suppliers
to major car manufacturers in India.
With a vast network of more than 1,000 dealers spread across India, efforts are
being constantly taken to increase this penetration level and make the quality
tyres available even in the remotest corners of the country.
Constant up gradations at the production level are being undertaken to satisfy
the ever-increasing demand of this exciting Indian car market. The right
marketing programs are also being initiated to increase the brand presence all
across the country. With all these efforts, Bridgestone India will emerge, and
contribute in fulfilling the vision of its parent company of being truly global
player and be the "World's No. 1 tyre and rubber manufacturing
company."
Bridgestone celebrates 10th Anniversary in the Indian market.
Bridgestone India Private Limited celebrated its 10th
Anniversary in India. The celebrations were done with a lot of fan-fare at
Indore. This event was also attended by some key people from Bridgestone
Corporation, Japan. The management of Bridgestone India also encouraged all the
other branches to also have their respective celebrations which was done with
equal jubilation all across the Bridgestone India branches. Every counter was
decorated with attractive POP material, and the customers were given attractive
give-aways created specially to commemorate this occasion.
Form 8 Particular for creation or
modification of charges
|
Corporation identity number or foreign company registrations number of the company |
U25111MP1996PTC010548 |
|
Name of the company |
BRIDGESTONE ACC INDIA PRIVATE
LIMITED |
|
Address |
Plot
No. 12, Kheda Growth Centre, Post Sagore, Pithampur, Dist. - Dhar 454 774,
Madhya Pradesh, India |
|
Charge creation date |
12.03.2003 |
|
Final amount secured |
Rs.150 millions |
|
Particular of the charge holder |
Bank of Tokyo Mitsubishi Limited Jeevan Prakash, Sir. P. M. Road, Fort, Mumbai - 400001, Maharashtra |
|
Date of the instrument creating charge |
17.07.2006 |
|
Amount Secure by the charge |
Rs. 50.000 Millions |
|
Modification charge Charge identification number of the charge to be modified |
90210610 |
|
Name of the company |
BRIDGESTONE
ACC INDIA PRIVATE LIMITED |
|
Presented By |
Mr. K. G. Shenoy, Director Mr. Seiji Inoue, Director |
|
1) Date and description of instrument creating the change |
Agreement of hypothecation of goods and assets dated 11.09.1998 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 250 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All the stock in trade both present and future consisting of raw materials, finished goods etc. and all the present and future book dents, outstanding money, receivables, claims and bills etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The amount in column in secured by the borrower by hypothecation of the goods / items mentioned in column in respect of amount of amount outstanding. Rate of Interest For ECDL 14.28 % p.a. For CC 14.53% p.a. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India Industrial Finance Branch, Apollo tower, 2, M.G. Road, Indore - 452 001, Madhya Pradesh |
|
6) Date and brief description of instrument modifying the charge |
23.01.2001. No instrument was executed. A joint mortgage by way of deposit of title deed by way of constructive delivery was created by the company in favour of State Bank of India Industrial Finance Branch, Apollo tower, 2, M.G. road, Indore - 452 001, Madhya Pradesh in respect of all the immovable fixed assets of the company saturated at Plot No. 12, industrial [MP] as security interalia for due repayment and discharge by the company to State Bank of India Industrial Finance Branch, Apollo tower, 2, M.G. road, Indore for its – Corporate loans of Rs. 400 millions comprising earlier corporate loan of Rs. 300 millions and an additional corporate loan of Rs. 100 millions Working capital credit limits of Rs. 400 millions Together with interest, additional interest, compound interest, liquidated damages premia on prepayment or on redemption, costs, charges expenses and other monies payable by the company by SBI under the supplemental deed of hypothecation of goods and assets dated 30.11.2000 and agreement for overall limits of Rs. 800 millions dated 30.11.2000. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Corporate loans of Rs. 400 millions Corporate loans of Rs. 400 millions comprising earlier corporate loan of Rs. 300 millions and an additional corporate loan of Rs. 100 millions, and further secured by first pari pasu charge on immovable fixed assets by way of equitable mortgage in favour of State Bank of India in respect of the company including plant and machinery situated at Plant No. 12 Indusrial, Khida, Dhar, subject to extent of operation of charges mentioned in earlier modification dated 30.11.2000 and registered on 20.12.2000. Working capital credit limits of Rs. 400 millions, and further secured by first pari pasu charge on immovable fixed assets by way of equitable mortgage in favour of State Bank of India in respect of the company including plant and machinery situated at Plant No. 12 Indusrial, Khida, Dhar, subject to extent of operation of charges mentioned in earlier modification dated 30.11.2000 and registered on 20.12.2000. |
|
|
|
|
Name of the company |
BRIDGESTONE
ACC INDIA PRIVATE LIMITED |
|
Presented By |
Mr. K. G. Shenoy, Director Mr. K Mitsuvasu, Director |
|
1) Date and description of instrument creating the change |
Deed of recital deposit dated 28.08.2003 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 350 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The amount stated in above is secured by equitable mortgage of the immovable property of the company created by deposit of title deed relating to several landed properties of the borrower together with all assets permanently fixed to the lands and building and plant and machinery appertaining or affixed thereto. The charge shall be on pari passy basis with State bank of India Industrial finance Branch, Indore. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The amount in column in secured by the borrower by hypothecation of the goods / items mentioned in column in respect of amount of amount outstanding. Rate of Interest Medium term PLR based on IRS with monthly rests or any such rates as may be specified by the Bank from time to time. Repayment : Bullet repayment on maturity The mortgaged property shall also secure the following amounts Existing Corporate Loan Rs. 30 Millions Addl. Corporate Loan Rs. 100 Millions Corporate Loan Rs. 400 Millions Working capital limits Rs. 400 Millions In respect of Bank of Tokyo Mitsubishi Limited medium term loan Rs. 150 millions |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of Tokyo Mitsubishi Limited Jeevan Prakash, Sir. P. M. Road, Fort, Mumbai - 400001, Maharashtra |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered against
subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.75 |
|
UK
Pound |
1 |
Rs.85.14 |
|
Euro |
1 |
Rs.57.55 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
40 |
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 |
|