MIRA INFORM REPORT
|
Report
Date : |
22.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
FORD INDIA PRIVATE LIMITED |
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Registered
Office : |
S P Koil Post, Chengalpattu- 603
204, Kancheepuram District, Tamil Nadu |
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Country
: |
India |
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Financials
(as on) : |
31.03.2005 |
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Date
of Incorporation : |
07.08.1995 |
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Com.
Reg. No.: |
18-45537 |
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CIN
No.: [Company
Identification No.] |
U34103TN2000PTC045537 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
CHEM02210F |
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Legal
Form : |
Private Limited Liability Company. |
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Line
of Business : |
Manufacturing and Marketing of Passenger Cars (Ford Ikon) |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
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
8250000 |
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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 subsidiary of Ford Motor Company, USA. Indian
Operations are passing through difficult times. It continue to incur losses.
Payments are however report as correct and as per commitments. As it is backed by a well known MNC, it can be considered
normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
S P Koil Post, Chengalpattu- 603
204, Kancheepuram District, Tamil Nadu, India |
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Tel.
No.: |
91-4114-254375 |
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Fax
No.: |
91-4114 –254278 |
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Website
: |
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Area : |
350 Acres |
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Location : |
Outskirts |
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Factory: |
S P Koil Post, Chengalpattu- 603
204, Kancheepuram District, Tamil Nadu, India |
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Tel.
No.: |
91-4114-254375 |
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Fax
No.: |
91-4114 –254278 |
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Workshop : |
72/1 East Coast Road,
Thiruvanmiyur, Chennai 600 041, Tamil Nadu, India |
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Tel.
No.: |
91-44-25022139, 24759342 |
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Showroom : |
800 Ponnamallee High Road,
Kilapuk, Chennai 600 010, Tamil Nadu, India |
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Tel.
No.: |
91-44-25323202, 26429585 |
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Fax
No.: |
91-44-26429736 |
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Branch
Office : |
TNPL Building, 35 Anna Salai,
Guindy, Chennai 600 032, Tamil Nadu, India |
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Tel.
No.: |
91-44-22463398, 22483921, 25022139 |
DIRECTORS
|
Name : |
Mr. Mark Austin Schulz |
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Designation
: |
Chairman |
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Date
of Birth/Age : |
29.05.1952 |
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Name : |
Mr. David Eliot Friedman |
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Designation
: |
Managing Director |
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Date
of Birth/Age : |
13.03.1962 |
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Name : |
Mr. Anand G. Mahindra |
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Designation
: |
Director |
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Date
of Birth/Age : |
01.05.1955 |
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Name: |
Mr. David Kinden Schoch |
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Designation: |
Director |
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Date
of Birth/Age : |
27.04.1951 |
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Name: |
Mr. Bharat Doshi |
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Designation: |
Director |
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Date
of Birth/Age : |
12.06.1949 |
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Name: |
Mr. John Vincent Felice |
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Designation: |
Director |
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Date
of Birth/Age : |
14.11.1961 |
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Name: |
Mr. San Main Padam |
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Designation: |
Director |
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Date
of Birth/Age : |
20.06.1962 |
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Name: |
Mr. George Henry Graham |
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Designation: |
Whole Time Director |
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Date
of Birth/Age : |
31.07.1951 |
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Name : |
Ms. Kathryn Lucy Millar (UK Citizen) |
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Designation
: |
Director |
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Address
: |
Flat
No.6, Mayflower Apartments, No.9, Sathyanarayana Avenue, RA Puram, Chennai
600 028, Tamil Nadu |
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Date
of Birth/Age : |
04/07/1967 |
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Date
of Appointment : |
10/06/2005 |
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Name : |
Mr. Peter J Daniel (Australian Citizen) |
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Designation
: |
Chairman |
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Address
: |
32/96
Sukumvit 67 Road, North Prakanong, Bangkok 10110 |
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Date
of Birth/Age : |
09/02/1947 |
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Date
of Appointment : |
11/06/2005 |
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Name : |
Mr. Philip G Thighe (Australian Citizen) |
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Designation
: |
Director |
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Address
: |
32/7
Sukumvit 67 Road, North Prakanong, Bangkok 10110 |
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Date
of Birth/Age : |
21/03/1953 |
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Date
of Appointment : |
11/06/2005 |
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Name : |
Mr. Dave N Aiden (US Citizen) |
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Designation
: |
Director |
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Address
: |
39/628
Nichada Thani, Samakee Road, Pakkreed, Nonthaburi, 11120, Thailand |
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Date
of Birth/Age : |
02/05/1954 |
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Date
of Appointment : |
11/06/2005 |
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Name : |
Mr. Arvind Mathew (American) |
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Designation
: |
Managing
Director |
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Address
: |
23,
Prithvi Avenue, Alwarpet, Chennai 600 018 |
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Date
of Birth/Age : |
08/01/1960 |
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Date
of Appointment : |
01/08/2005 |
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Name : |
Mr. S Ramesh (Indian) |
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Designation
: |
Company
Secretary |
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Address
: |
No.10
Panchayat Colony, Radha Nagar, Chrompet, Chennai 600 044 |
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Date
of Birth/Age : |
11/10/1975 |
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Date
of Appointment : |
10/06/2005 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Ford
Motor Company The
American Road, Dearborn, MI 48121, USA |
71,500,000 |
84.12 |
|
Ford
International Services Inc. USA The
American Road, Dearborn, MI 48121, USA |
13,500,000 |
15.88 |
|
Total |
85,000,000 |
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturing and Marketing of Passenger Cars (Ford Ikon) |
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Products
: |
·
Endeavour ·
Ikon ·
Mondeo ·
Fusion ·
Fiesta ·
Ford |
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Export
to : |
Cars to South Africa, China and Mexico |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
Passenger
Cars |
Nos |
N.A. |
100000 |
28,805 |
|
Spares
for Resale (Sales) |
Millions |
|
|
1,221.204 |
GENERAL INFORMATION
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No. of
Employees : |
22000 |
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Bankers
: |
v ABN Amro Bank N.V. v Bank Of America v Canara Bank v Citibank N.A. v Credit Lyonnais v Deutdche Bank v Hong Kong and Shangai Banking
Corporation Limited v ICICI Bank v Indian Overseas Bank v Standard Chartered Bank v Union Bank of India v State Bank of India v IDBI Bank v HDFC Bank Limited Indian Overseas Bank, MM Nagar
Branch, 34 Nandanar Street, NH 2, MM Nagar 603 209 |
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Facilities : |
Working Capital Facility: Rs.100
Million from Indian Overseas Bank as per Hypothecation agreement dated 28th
September 2005. It is secured against
stock of raw materials, semi finished & finished goods, stores and spares
not relating to plant & machinery, book debts, outstanding moneys
receivable, claim bills, contracts, engagements, securities and investments. |
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Banking Relations : |
Satisfactory |
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Auditors
: |
Lovelock & Lewes Chartered Accountants, Chennai. Mr. N Ramesh Rajan, Partner (Membership No.22311) |
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Address |
8th Floor, Auras
Corporate Centre, 98-A, Dr Radhakrishnan Salai, Mylapore, Chennai 600 004 |
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Holding
Company : |
Ford
Motor Company |
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Associates/Subsidiaries
: |
Common Control ·
Ford Business Services Center Private Limited ·
Ford Motor Company Brazil Limited ·
Ford Motor Company Limited, Britain ·
Ford Espana ·
Ford Werke AG ·
Ford Trading Company LLC ·
Ford Motor Company of Australia Limited ·
Ford Global Technoloties Inc. ·
Ford Motor Company, Mexico ·
Ford Motor Company, China ·
Ford Motor Company, Phillipines ·
Ford Motor Company of Southern Africa
Manufacturing Pty Limited ·
Changan Ford Automobile Corporation Limited ·
Ford Vietnam Limited ·
Ford Argentina S.C.A ·
Ford Operations (Thailand) Company Limited ·
Ford Sales and Service (Thailand) Company Limited ·
Thirdware Solutions Limited ·
Ford of Korea ·
Ford of Sweden ·
Ford Motor Company, Indonesia ·
DCS Holding Company ·
Getrag Ford Transmissions Gmbh ·
Ford Technology Services India ·
Mazda Motor Corporation ·
Ford
of Spain |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs.100/- each |
Rs. 10000.000 million |
|
50000000 |
Preference Shares |
Rs.100/- each |
Rs. 5000.000 million |
|
|
Total |
|
Rs. 15000.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
85000000 |
Equity Shares |
Rs.100/- each |
Rs. 8500.000 million |
Note:
Of the above 71500000 Equity
Shares are held by Ford Motor Company, U.S.A. the Holding Company.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
8500.000 |
8500.000 |
8500.000 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4]
(Accumulated Losses) |
[6408.476] |
(6289.036) |
(5823.683) |
|
NETWORTH
|
2091.524 |
2210.964 |
2676.317 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
5416.257 |
4825.209 |
5755.503 |
|
|
2]
Unsecured Loans |
2380.868 |
1752.646 |
1089.070 |
|
TOTAL
BORROWING
|
7797.125 |
6577.855 |
6844.573 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL
|
9888.649 |
8788.819 |
9520.890 |
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|
|
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
7462.547 |
7569.428 |
8041.239 |
|
Capital work-in-progress
|
2119.348 |
584.389 |
77.559 |
|
|
|
|
|
|
|
Unique Tooling Secured Advances
|
897.856 |
1089.866 |
1369.685 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
2475.393
|
985.288
|
1314.787 |
|
|
Sundry Debtors
|
519.949
|
528.337
|
378.341 |
|
|
Cash & Bank Balances
|
51.621
|
189.770
|
4.233 |
|
|
Other Current Assets
|
45.940
|
71.223
|
114.574 |
|
|
Loans & Advances
|
551.001
|
370.085
|
364.180 |
Total Current Assets
|
3643.904
|
2144.703 |
2176.115 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
4083.556
|
2490.672
|
1760.472 |
|
|
Provisions
|
154.456
|
115.142
|
394.908 |
Total Current Liabilities
|
4238.012
|
2605.814 |
2155.380 |
|
Net
Current Assets
|
[594.108]
|
[461.111] |
20.735 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
3.006 |
6.247 |
11.671 |
|
|
|
|
|
|
|
TOTAL
|
9888.649 |
8788.819 |
9520.890 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other income]
|
13779.360 |
11278.441 |
8832.773 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
(119.440) |
(465.400) |
(542.300) |
|
|
|
|
|
Profit/(Loss) After Tax
|
(119.440) |
(465.400) |
(542.300) |
|
|
|
|
|
Export Value
|
1564.425 |
1445.398 |
1677.150 |
|
|
|
|
|
Import Value
|
4165.037 |
2103.209 |
1681.608 |
|
|
|
|
|
Total Expenditure
|
12918.053 |
11743.793 |
9375.118 |
KEY
RATIOS
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(0.87) |
(4.13) |
(6.14) |
|
Net Profit Margin |
(0.89) |
(4.19) |
(6.29) |
|
Return on Total Assets |
(0.58) |
(2.63) |
(3.10) |
|
Return on Investment (ROI) |
(1.41) |
(5.47) |
(6.38) |
|
Current Ratio |
0.86 |
0.82 |
1.01 |
|
Quick Ratio |
0.28 |
0.44 |
0.40 |
|
Debt Equity Ratio |
0.92 |
0.77 |
0.81 |
|
Current Liabilities/Networth |
0.50 |
0.31 |
0.25 |
|
Fixed Asset / Networth |
0.88 |
0.89 |
0.95 |
|
Average Collection Days |
14.11 |
17.38 |
16.02 |
|
Account Receivables Turnover |
25.87 |
21.00 |
22.78 |
|
Inventory Turnover |
5.43 |
11.26 |
6.55 |
|
Asset Turnover |
1.80 |
1.47 |
1.07 |
LOCAL AGENCY FURTHER INFORMATION
Ford India Private Limited is a wholly owned subsidiary of
Ford Motor Company, USA
The Company has obtained ISO
14001:1996 Certification in the year 2004.
Production:
The subject company has sold
27,301 cars for the year ended 31.03.2005.
This represents an increase of 18% when compared with the previous year
sales of 23,186 cars. The subject
company has an extensive and well equipped network of 106 dealership outlets
covering 64 cities in India.
The company has an extensive and well-equipped network of 93
dealerships covering 73 cities.
Export:
The company continued to export Ikon components in knock
down condition to South Africa. China and Mexico during the year. the value of
exports during the year is Rs. 1445.400 millions. The export during the year
are toward meeting the obligations under the EPCG Scheme and the export
obligation to this date have been met by the company.
Mr Arvind Mathew joined Ford in 1990 after completing his
Masters in Engineering and MBA from the University of Michigan. He comes with a wealth of experience having
worked in USA and UK before taking up charge at Ford India in April 2003,
designed as Vice President – Supply and Manufacturing
During the year, Ford
International Services Inc. USA, a wholly owned subsidiary of Ford Motor
Company, USA, bought the shares of the Company, held by M/s Mahindra and
Mahindra Limited. Consequent to this,
the company has become fully owned subsidiary of Ford Motor Company, USA.
Press Clippings
Source: The Hindu dated July 7, 2005
Chennai , July 6
MR Arvind Mathew, Vice-President -
Manufacturing and Supply, Ford India, will take over as Managing Director and
President from August 1, as the company readies for the global launch of a new
car by the year-end.
Mr David E. Friedman, Managing
Director and President, Ford India, who will take over an executive position in
the Asia-Pacific region, announced the change at the top and the launch of a
new car at a press conference today. India would be the first market where the
new car would be launched, he said.
India was one of the fastest
growing automobile markets in the world and Ford had aggressive growth plans
for the country, he said. Both Mr Friedman and Mr Mathew declined to provide
details of the new car - the segment in which it would fit in and the likely
price - stating that it would be announced closer to the launch date. All that
they would say was that it was a premium car with contemporary, international
styling and would push Ford India to a high growth phase. The new car would
help the company achieve its full production capacity of 100,000 cars. Mr
Friedman, who joined Ford India in December 1998 as its Vice-President (Finance
and IT), took over as Managing Director and President in September 2001.
Mr Mathew is a post-graduate in
mechanical engineering and has an MBA from the University of Michigan. He has
been with Ford Motor Company since 1990 when he joined it as a business
planning analyst. He has held a range of engineering, product planning and new
product implementation positions in North America, Germany, Spain, Turkey and
the UK before coming to Ford India in May 2003.
Mr Mathew said his task would be
to build on the infrastructure that had been built up at the company and grow
the business. "It is not a sprint. We do things for the long haul,"
he said and added that Ford India had positioned its products in unique
segments and would continue to do so in future too.
The new car, codenamed B376, will
be slightly larger than Ford India's existing three-box car, Ikon. It will be
launched in both petrol and diesel versions, according to reliable industry
sources.
Ford India is expected to settle
for a 1.4-litre turbo diesel engine for the new car.
The company is expected to show
the car to its dealers during the meeting scheduled for Thursday and the day
after at a resort hotel on the outskirts of Chennai. The meeting is also to
discuss the launch and business strategies for the new car, according to the
sources.
Apart from the change at the top,
Ford India is also likely to see some changes in senior positions with Mr Vinay
Piparsania, now Vice-President - Marketing and Sales, likely to head for an
assignment with Ford in the Asia Pacific region and Mr V. Sivaramakrishnan, now
General Manager with Ford India, likely to replace him.
Conservation of Energy:
Focus continued to be maintained during the year on measures
for the conservation and optimal utilization of energy in all areas of
company’s operations. The measures adopted during the year have significant
saving in consumption of energy and optimal use thereof. Ford India had
participated in CII organized National Competition for Excellence in energy
Management in October 2003 and had won Excent Energy Efficient unit for the
year 2003. The company achieved 25% reduction in electrical energy consumer per
car.
Research and Development and Technology Absorption:
As a part of the ford motor company, ford India has access
and the advantage of drawing from the extensive research and development
efforts and activities of ford. It has therefore been possible for the company
to focus its efforts on testing and modification of products fro local
conditions.
As a result of company’s access to the international
technology from form motor company, the company absorbs and adapts the
technologies on a continuous basis to meet the specific needs of the market
resulting in improved product quality, import substitution and cost effectiveness.
Environment:
Ford India has successfully operation Environmental
Management System as per ISO 14001:1996 standards and got the certificate renewed for the fourth year of operation in
the 2003.Various water conservation programmes and waste minimization
programmes are adapted in this year which achieved significant improvement in
water saving and reduction on scraps. The reduction in water consumption
achieved is 700 Ltrs per car over the previous year. Steps are taken during the
year to increase the awareness about the environment and to implement
environmental protection measures. The plant is equipped with proper.
Fixed Assets:
v Land-Freehold
v Leasehold Improvement
v Building
v Plant and Machinery
v Computers
v Furniture and Fixtures
v Vehicles
Website Detail Attach:
We're committed to making a difference - for ourselves and
for future generations.
Our industry is a particularly stimulating one for graduates
and there are few other companies like us.
Learn about our history and our vision for the future as we
celebrate our 100th anniversary.
Visit the Ford Motor Company family of brands.
Get the latest Ford News and Media releases here.
Ford India has become a major player in the preservation of
environment
28/09/2005 Ford to name its new model 'Fiesta' in India
10/08/2005 V. Sivaramakrishnan appointed Vice-President of
Sales, Marketing and Service at Ford India
10/08/2005 Special offers for rain damaged Ford vehicles in Mumbai
25/07/2005 Ford?s next generation TDCi technology to power
the new model.
06/07/2005 Arvind Mathew appointed Managing Director and
President of Ford India.
25/06/2005 Ford inaugurates Brand@Retail dealership facility at Kottayam
23/06/2005 Wasan Ford showcases the new Ford Brand@Retail
look.
21/06/2005 New Ford Dealership Inaugurated at Trichur
19/04/2005 Ford steps up presence in the North East. New Brand @
Retail showroom at Tinsukia
18/04/2005 Ford enhances service support at Allahabad
17/04/2005 Ford inaugurates KS Ford dealership in Bhilwara
16/04/2005 Ford enhances to Brand @ Retail facility at Udaipur
17/03/2005 Latest Ford Mondeo debuts in India at Rs. 14.20
Lakhs (ex showroom, New Delhi)
07/03/2005 March Masti - It's time to buy a Ford!
03/03/2005 Ford - Fusion-Wanna go on a wild trip?
Karega"
02/02/2005 Ford inaugurates PVS Ford at Calicut
21/01/2005 Ford inaugurates new showroom at Bangalore
17/12/2004 New Ford showroom at Prabhadevi Mumbai.
24/11/2004 New Ford Dealership inaugurated in Hyderabad
02/11/2004 Ford Chief Operating Officer flags off First Fusion
in India.
20/10/2004 5000th Container shipped from Ford India Export
Plant
11/10/2004 Ford ramps up dealership presence in NCR
11/10/2004 Five years of Josh. Ford Ikon Celebrates 5th
anniversary
30/09/2004 Ford launches 'Total Maintenance Plan' for the
Josh customer
25/08/2004 Ford announces launch of Ford Fusion an Urban
Activity Vehicle(UAV)- Part 2
25/08/2004 Ford announces launch of Ford Fusion an Urban
Activity Vehicle(UAV)
10/08/2004 Ford Launches New Irresistible Ikon
02/08/2004 Ford dealership inaugurated at Trichy
30/07/2004 Ford dealership inaugurated at Nellore
30/07/2004 Ford plans to ramp up dealership facility in Madurai
13/07/2004 Ford launches Cargainz a unique Customer
Loyalty programme
14/06/2004 Ford India on the Fast Track
01/04/2004 Ford India Posts Highest Sales Ever
25/03/2004 Aditya Ford to provide world-class service to
Ford customers in Vidarbha
17/03/2004 Brij Ford to cater to Ford customers in the
Eastern UP region
02/01/2004 Ford creates a unique experience for its
customers
14/10/2003 Ford Endeavour at Rs. 12.90 Lakhs, Ex-Delhi
24/09/2003 Ford Rolls out 'Endeavour' SUV at Chennai Plant
05/08/2003 Ford Does It With Flair
16/07/2003 Ford India launches Ikon NXT SXi
19/06/2003 Ford Celebrates Centennial in India
04/06/2003 Ford Motor Company awards World Excellence Award
to Cooper Tire & Rubber Company, India Pvt. Ltd.
Ford and the
Environment
Ford Motor Company understands that being a successful
car business means more than satisfying customers with outstanding products and
services, it means setting an example for corporate responsibility and making a
contribution to the community and the environment. Cleaner manufacturing
facilities, environmental vehicles and the use of recycled parts are just one
of the many examples of how Ford Motor Company is striving to make the world a
better place.
Ford Motor Company (FMC) is the world’s second
largest automotive company after General Motors. Ford had revenues worth US$
164.5 billion in 2003 and is spread across 200 countries with over 327,000
employees.
Ford sells vehicles under various brand names
such as Aston Martin, Ford, Jaguar, Land Rover, Lincoln, Mercury and Volvo.
In 1995, FMC established a joint venture company with Mahindra & Mahindra (M&M) to assemble and distribute the Ford Escort, the company’s first model to be showcased in India. The company was re-christened Ford India in 1999, following a change in equity holding, with Ford buying out a majority stake. Ford India is a part of Ford Motor Company’s regional operating unit, Ford Asia Pacific (FAP).
Ford India set up its 250 acre manufacturing
plant near Chennai with an investment of over US$ 354 million. It today has the
capacity to manufacture 100,000 vehicles per annum. In 2003, Ford India had
about 900 employees and a turnover of over US$ 200 million.
Ford is present in the C-Segment with the Ikon,
and in the D-Segment with the Mondeo. Ford India has also launched Endeavour,
in the sports utility vehicle segment.
Ford ranked highest in the J.D. Power Asia
Pacific 2003 Sales Satisfaction India (SSI) survey. In the J.D. Power Asia
Pacific 2002 India Initial Quality Study (IQS) Study, Ford Ikon ranked the
highest in the entry mid-size segment as it did in 2001, achieving a 126 PP100.
Success Stories
Challenges
and success factors
v
Uncertainty and fluctuations in the Indian car
market
v
Reluctance of Indian consumers to upgrade cars.
Initially,
this had resulted in lower than expected sales volume in the C-Segment.
Ford
India, however had a strategy to overcome these challenges.
Wide
product portfolio
To
improve the appeal for its products and maintain product differentiation, Ford
introduced new products in various segments as well as variants for existing
products.
v
Ford India sells Ikon in five variants viz. Ford
Ikon, Ford Ikon NXT, Ford Ikon 1.3 CLXi NXT, Ford Ikon Sxi, Ford Ikon Flair
v
Ford launched ‘Flair’, at a price aimed at attracting
the B Plus segment of car customers
v
Ford Mondeo comes in two different variants:
Ford Mondeo, Ford Mondeo Ghia
v
Ford launched Endeavour to cater to the Sports
Utility Vehicle (SUV) market
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.44.87 |
|
UK Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.58.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
4 |
|
--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 |
|
46 |
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 |
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 |