MIRA INFORM REPORT

 

 

Report Date :

27.12.2007

 

IDENTIFICATION DETAILS

 

Name :

YAMAHA MOTOR INDIA PRIVATE LIMITED

 

 

Registered Office :

Aalianz House, Second Floor, 273, Captain Gaur Marg, Sriniwas Puri, New Delhi – 110 065

 

 

Country :

India

 

 

Financials (as on) :

31.12.2006

 

 

Date of Incorporation :

01.11.1995

 

 

Com. Reg. No.:

55-73540

 

 

CIN No.:

[Company Identification No.]

U74899DL1995PTC073540

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELE01953A

 

 

PAN No.:

[Permanent Account No.]

AAACE0481B

 

 

Legal Form :

Subject is a private limited liability company. Subject is a subsidiary of Yamaha Motors Company Limited, Japan.

 

 

Line of Business :

Manufacturer of Motor Cycles and Spares.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

 

Maximum Credit Limit :

USD 19000000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company and a part of Yamaha Group worldwide.  Directors are reported as experienced and respectable and resourceful businessmen. Trade relations are reported as fair.  Company has huge accumulated losses.  Payments are reported as slow but correct.

 

The company can be considered for normal business dealings at usual trade terms and conditions.

 

LOCATIONS

 

Registered Office :

Aalianz House, Second Floor, 273, Captain Gaur Marg, Sriniwas Puri, New Delhi – 110 065, India

Tel No.:

91 – 11 – 4180 2255

Fax No.:

91 – 11 – 4180 2200

E-Mail:

knm@knm.in

msinghal@knm.in

 

 

Head Office /

Corporate Office :

19/6, Mathura Road, Faridabad-121 006, Haryana, India

Tel. No.:

91-129-2284931 / 2284932 / 2284933 / 2284934 / 284935 / 2284936 / 2265101 / 2265102 / 2265103

Fax No.:

91-129-2284841

 

 

Administrative Office / Factory :

A-36 Mohan Co-operative Industrial Estate, Mathura Road, New Delhi – 110 044

Tel. No.:

91-11-26977817

Area :

Large Size

Location :

Owned – Industrial Area

 

 

Branch :

C-582, LGF, Defence Colony, New Delhi - 110 024, India

Tel. No.:

91-11-24336105

Fax No.:

91-11-24336083

Area :

Medium Size

Location :

Leased - Commercial Area

 

DIRECTORS

 

Name :

Mr. Rajan Nanda

Designation :

Director

Address :

2, Friends Colony (West), New Delhi – 110 065, India

Date of Birth/Age :

16.10.1942

Date of Appointment :

01.11.1995

 

 

Name :

Mr. Tadayoshi Suganuma (Foreigner)

Designation :

Managing Director

Address :

B-63, Defence Colony, New Delhi – 110 024, India 

Date of Birth/Age :

31.10.1937

Date of Appointment :

10.10.1996

 

 

Name :

Mr. Umesh Banerji

Designation :

Director

Address :

H. No. E-47, Sector 30, G B Nagar, Uttar Pradesh, India 

Date of Birth/Age :

29.06.1943

Date of Appointment :

02.07.1999

 

 

Name :

Mr. Toshimitsu Lio

Designation :

Director

Address :

5-23-70, Hikuma, Hamamatsu-Shi, Shizuoka-Pref, Japan

Date of Birth/Age :

11.11.1950

Date of Appointment :

19.08.2000

 

 

Name :

Mr. Koji Harada (Foreigner)

Designation :

Whole Time Director

Address :

N-95, Panchsheel Park, New Delhi – 110 017, India 

Date of Birth/Age :

06.08.1948

Date of Appointment :

26.05.2000

 

 

Name :

Mr. Yoshio Hasegawa

Designation :

Whole Time Director

Address :

D-195, 1st Floor, Defence Colony, New Delhi – 110 024, India 

Date of Birth/Age :

11.03.1945

Date of Appointment :

26.05.2000

 

 

Name :

Mr. Takakuni Kuno

Designation :

Whole Time Director

Address :

S-88, Panchsheel Park, New Delhi – 110 017, India 

Date of Birth/Age :

03.09.1942

Date of Appointment :

26.05.2000

 

 

Name :

Mr. Harminder Chawla 

Designation :

Additional Director

Address :

C 8, Sector 23, Noida, India 

Date of Birth/Age :

03.10.1967

Date of Appointment :

01.08.2001

 

 

Name :

Mr. Takashi Kajikawa (Foreigner)

Designation :

Additional Director

Address :

1-14-17, Kinosaki, Iwata City, Shizuoka-Pref, Japan

Date of Birth/Age :

03.07.1944

Date of Appointment :

01.08.2001

 

 

Name :

Mr. Kusuo Minami (Foreigner)

Designation :

Additional Director

Address :

4-37-12, Saiwai Hamanatsu City, Shizuoka-pref, Japan

Date of Birth/Age :

09.03.1948

Date of Appointment :

01.09.2001

 

 

Name :

Mr. Toshiaki Yoneda

Designation :

Additional Director

Address :

C-365, Defence Colony, New Delhi – 110 024, India

Date of Birth/Age :

01.02.1947

Date of Appointment :

01.09.2001

 

 

Name :

Mr. Yoshihito Konishi

Designation :

Whole Time Director

Address :

C-197, Ground Floor, Defence Colony, New Delhi – 110 024, India  

Date of Birth/Age :

12.03.1954

Date of Appointment :

27.05.2002

 

 

Name :

Mr. Hiroshi Sakurai (Foreigner)

Designation :

Whole Time Director

Address :

Flat No. 15, Gauri Apartments, South End Lane, 3-4, Aurangzeb Road, New Delhi – 110 001, India

Date of Birth/Age :

27.07.1957

Date of Appointment :

01.06.2002

 

 

Name :

Mr. Yoshimi Watanabe (Foreigner)

Designation :

Additional Director

Address :

18-6, Ohizumi-cho, Iwatashi, Shizuoka-ken, Japan

Date of Birth/Age :

11.02.1946

Date of Appointment :

01.08.2002

 

 

Name :

Mr. Masaru Hayashi (Foreigner)

Designation :

Director

Address :

3-2, Midorieaoka, Iwatashi, Shizuoka, Japan

Date of Birth/Age :

28.02.1951

Date of Appointment :

25.02.2003

 

 

Name :

Mr. Hiroyuki Yanagi

Designation :

Managing Director

Address :

N-16, Panchsheel Park, New Delhi, India

Date of Birth/Age :

20.11.1954

Date of Appointment :

05.04.2004

 

 

Name :

Mr. Kenji Fujimoto

Designation :

Director – Finance 

Address :

C-197, Defence Colony, New Delhi – 110 024, India  

Date of Birth/Age :

26.09.1953

Qualification :

B A

Experience :

29 Years

Date of Appointment :

01.03.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. Haruo Tatsumi

Designation :

Director – Manufacturing

Address :

C-550, Defence Colony, New Delhi – 110 024, India  

Date of Birth/Age :

27.01.1951

Qualification :

Graduate Mech. Engg.

Experience :

34 Years

Date of Appointment :

01.03.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. A V Srinivasan

Designation :

Director

Address :

8078, Sector C – 8, Vasant Kunj, New Delhi – 110 070, India 

Date of Birth/Age :

14.04.1951

Qualification :

B. Tech. and MBA

Experience :

28 Years

Date of Appointment :

03.03.2004

Last Employment Held : 

Cement Manufacturers Association  

 

 

Name :

Mr. Tokahiko Goan

Designation :

Director

Address :

3515-70, Nishikaizuka, Iwata City, Shizuoka-Pref, Japan

Date of Birth/Age :

09.03.1954

Date of Appointment :

01.08.2004

 

 

Name :

Mr. M J Singh

Designation :

Director

Address :

D-85, Panchsheel Enclave, New Delhi – 110 017, India

Date of Birth/Age :

20.08.1951

Qualification :

BE, IIT and MBA

Experience :

30 Years

Date of Appointment :

08.07.1975

 

 

Name :

Mr. Wataru Suzuki

Designation :

Additional Director

Address :

2-39, 2 Chome, Handayama, Hamamatsu City, Shizuoka-Pref, Japan

Date of Birth/Age :

29.10.1947

Date of Appointment :

16.02.2005

 

 

Name :

Mr. Tomotaka Ishikawa

Designation :

Executive Director

Address :

N-16, Panchsheel Park, New Delhi, India

Date of Birth/Age :

21.08.1950

Date of Appointment :

13.02.2006

 

 

Name :

Mr. Okamoto Masashi

Designation :

Vice President – Administration Centre, Finance, IT and CCD

Date of Birth/Age :

49 Years

Qualification :

B.E.

Experience :

25 Years

Date of Appointment :

01.04.1998

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T Chikano

Designation :

Deputy General Manager – R and D

Date of Birth/Age :

47 Years

Qualification :

B. E.

Experience :

23 Years

Date of Appointment :

01.11.2000

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T Oishi

Designation :

Vice President – Production Engineering

Date of Birth/Age :

51 Years

Qualification :

B. Mech.

Experience :

27 Years

Date of Appointment :

01.06.2000

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. K Nozue

Designation :

Deputy General Manager – Manufacturing

Date of Birth/Age :

52 Years

Qualification :

Graduate

Experience :

32 Years

Date of Appointment :

01.04.2003

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. H Yanagi

Designation :

Managing Director

Date of Birth/Age :

51 Years

Qualification :

MS, Industrial Engg.

Experience :

27 Years

Date of Appointment :

01.03.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. A Shibata

Designation :

General Manager – Q. A.

Date of Birth/Age :

56 Years

Qualification :

B. Mech. Engg.

Experience :

31 Years

Date of Appointment :

01.08.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T O Gaswara

Designation :

CGM – Manufacturing

Date of Birth/Age :

51 Years

Qualification :

Graduate

Experience :

25 Years

Date of Appointment :

01.08.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. K Matsuo

Designation :

Deputy General Manager – Manufacturing

Date of Birth/Age :

43 Years

Qualification :

Graduate, Mech. Engg.

Experience :

24 Years

Date of Appointment :

01.09.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. K Matsuda

Designation :

Deputy General Manager – R and D

Date of Birth/Age :

52 Years

Qualification :

Graduate, Mech. Engg. 

Experience :

31 Years

Date of Appointment :

01.12.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. Y Ito

Designation :

Vice President – Marketing

Date of Birth/Age :

49 Years

Qualification :

Graduate

Experience :

26 Years

Date of Appointment :

01.03.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. M Nishimura

Designation :

Vice President

Date of Birth/Age :

49 Years

Qualification :

Graduate – Mech. Engg.

Experience :

14 Years

Date of Appointment :

06.02.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. H Yoshihara

Designation :

Vice President

Date of Birth/Age :

39 Years

Qualification :

Graduate

Experience :

14 Years

Date of Appointment :

01.04.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. S Kamiya

Designation :

Vice President

Date of Birth/Age :

47 Years

Qualification :

Graduate

Experience :

23 Years

Date of Appointment :

01.05.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T Maeda

Designation :

Senior Vice President

Date of Birth/Age :

51 Years

Qualification :

Graduate – Mech. Engg.

Experience :

25 Years

Date of Appointment :

01.06.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T Takeuchi

Designation :

Assistance to Director Finance

Date of Birth/Age :

25 Years

Qualification :

Graduate

Experience :

2 Years

Date of Appointment :

01.09.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T Maruyama

Designation :

Assistance to Vice President 

Date of Birth/Age :

27 Years

Qualification :

Graduate

Experience :

2 Years

Date of Appointment :

01.11.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. Y Yamagami

Designation :

Chief General Manager

Date of Birth/Age :

42 Years

Qualification :

Graduate

Experience :

18 Years

Date of Appointment :

01.12.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. M Habu

Designation :

Deputy General Manager

Date of Birth/Age :

35 Years

Qualification :

B. Tech.

Experience :

12 Years

Date of Appointment :

01.09.2000

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T Shimizu

Designation :

Vice President – Purchase

Date of Birth/Age :

49 Years

Qualification :

B. E.

Experience :

25 Years

Date of Appointment :

01.07.2000

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. Y Morita

Designation :

Chief General Manager

Date of Birth/Age :

44 Years

Qualification :

Graduate

Experience :

23 Years

Date of Appointment :

01.10.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. K Horikoshi

Designation :

Deputy General Manager

Date of Birth/Age :

39 Years

Qualification :

Graduate

Experience :

15 Years

Date of Appointment :

01.10.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. T Yamada

Designation :

Deputy General Manager – Marketing

Date of Birth/Age :

41 Years

Qualification :

Graduate

Experience :

18 Years

Date of Appointment :

01.01.2005

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. K Kuwabara

Designation :

Assistance to Vice President 

Date of Birth/Age :

29 Years

Qualification :

Graduate 

Experience :

2 Years

Date of Appointment :

01.08.2004

Last Employment Held : 

Yamaha Motor Company, Japan 

 

 

Name :

Mr. Masahiko Shibuya

Designation :

Managing Director

Address:

92, Golf links, New Delhi – 110 003, India

Date of Birth/Age :

01.02.1944

Date of Appointment :

11.06.2001

Date of Ceasing:

05.04.2004

 

 

Name :

Mr. Sudesh Kumar Taneja

Designation :

Additional Director

Address:

House No. 650, Faridabad – 121007, India

Date of Birth/Age :

01.09.1947

Date of Appointment :

01.08.2001

Date of Ceasing:

27.05.2002

 

 

Name :

Mr. Toru Watabiki

Designation :

Director

Address:

3 – 2 -3, Katsuragaoka, Kakegawa City, Shizuola – 4360038, Japan

Date of Birth/Age :

14.07.1947

Date of Appointment :

14.02.2007

 

 

Name :

Mr. Mukesh Kumar Gupta

Designation :

Director

Address:

R – 99/ 2A, Model Town – III, Delhi – 110 009, India

Date of Birth/Age :

01.08.1973

Date of Appointment :

14.02.2007

 

KEY EXECUTIVES

 

Name :

Mr. Umesh Kumar Ahuja

Designation :

Company Secretary

Address :

J 4/9, Rajouri Garden, New Delhi – 110 027, India

Date of Birth/Age :

19.02.1956

Date of Appointment :

10.10.1996

 

 

Name :

Mr. Girish Buttan 

Designation :

Company Secretary

Address :

67, GRD Nagar, Laxmi Nagar, New Delhi – 110 092, India

Date of Birth/Age :

08.08.1968

Date of Appointment :

24.01.2001

 

 

Name :

Mr. Umesh Gupta

Designation :

Company Secretary

Address :

R-53/2/1, Model Town III, Delhi – 110 009, India

Date of Birth/Age :

05.04.1973

 

 

Name :

Ms. Ritu Vats

Designation :

Secretary

Address :

DP – 220, Maurya Enclave, Pitam Pura, Delhi – 110 088, India

Date of Birth/Age :

28.07.1975

Date of Appointment :

21.04.2006

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

Yamaha Motor Company Limited

 

20720000

Yamaha Motor Company Limited

 

26999999

Yamaha Motor Asia Private Limited

 

1

Yamaha Motor Company Limited

 

30000000

 

Equity Shares Breakup (Percentage of Total Equity):

 

Category

 

Percentage of Holding

Foreign holdings (Foreign Institutional investor(s), Foreign companie(s), Foreign financial institution(s), Non-resident Indian(s) or Overseas corporate bodies or Others

 

100.00

Total

 

100.00

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Motor Cycles and Spares.

 

 

Products :

Motor Cycles and Accessories

 

 

Brand Name:

YAMAHA/RX 135 CAT/CRUX/YD 125.

 

 

Imports :

 

Products:

v      Raw materials

v      Spare parts

v      Machineries

Countries:

Japan and European Countries.

 

 

Terms :

 

Selling :

Credit (30 days) terms.

 

 

Purchasing :

Cash, L/C or Credit (30/60 days) terms.

 

 

PRODUCTION STATUS

 

Particulars

 

Unit

Installed Capacity

Actual Production

Motor Cycle

 

Nos.

384000

236665

 

GENERAL INFORMATION

 

No. of Employees :

About 217

 

 

Bankers :

·         Standard Chartered Bank

17, Parliament Street, New Delhi – 110 001, India

 

·         HDFC Bank Limited

 

·         Credit Lyonnais Bank

      Mercantile House, 6th Floor, Kasturba, Gandhi Marg,

      New Delhi – 110 001, India

 

·         The Bank of Nova Scotia

Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi – 110 001, India

E-Mail: rajendra.gupta@scotiabank.com

 

·         Calyon Bank

Mercantile House, 6th Floor, 15 Kasturba Gandhi Marg, New Delhi – 110 001, India

 

·         Citi Bank NA,

New Delhi

 

 

Facilities :

--

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

S. R. Batliboi and Company

Chartered Accountants

Address :

B-26 Qutab Institutional Area, New Delhi – 110 016, India

Tel. No.:

91-11-26611004/05/06/07/08/09

Fax No.:

91-11-26611012/26611013

 

 

Collaborator:

Yamaha Motors Company Limited, Japan.

 

 

Subsidiaries :

·         YM Infotech Private Limited

·         Yamaha Motor Asia Pacific Private Limited

·         Yamaha Motor Taiwan Trading

·         Suoward International, Japan

·         Yamaha Motor India Sales Private Limited  

 

 

Holding Company :

Yamaha Motor Company Limited

2500 Shingai Iwata, Shizuoka – 438 – 8501, Japan

 

 

Fellow Subsidiaries:

·         Yamaha Motor Asia Pacific Private Limited

·         Yamaha Motor Taiwan Trading

·         Sunward International, Japan

·         Yamaha Motor India Sales Private Limited

·         Yamaha Motor Solution India Private Limited

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

350,000,000

Equity Shares

Rs. 10/- each

Rs. 3500.000 millions

41,300,000

Preference Shares

Rs.100/- each

Rs. 4130.000 millions

 

Total

 

Rs. 7630.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

327,000,000

Equity Shares

Rs. 10/- each

Rs. 3270.000 millions

37,860,000

Preference Shares

Rs.100/- each

Rs. 3786.000 millions

 

Total

 

Rs. 7056.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2006

31.12.2005

31.12.2004

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

7056.000

5342.000

5342.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

210.000

210.000

210.000

4] (Accumulated Losses)

(2450.200)

(2745.300)

(2504.600)

NETWORTH

4815.800

2806.700

3047.400

LOAN FUNDS

 

 

 

1] Secured Loans

2128.500

2145.400

1691.600

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

2128.500

2145.400

1691.600

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

6944.300

4952.100

4739.000

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

3043.400

3149.100

3317.100

Capital work-in-progress

75.500

33.800

38.200

 

 

 

 

INVESTMENT

0.300

1.000

1.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
1595.800

823.400

1188.800

 

Sundry Debtors
1441.100

271.300

520.400

 

Cash & Bank Balances
56.100

26.700

84.200

 

Other Current Assets
1470.200

1380.500

113.200

 

Loans & Advances
585.300

350.700

344.300

Total Current Assets
5148.500

2852.600

2250.900

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
1165.400

935.400

1621.100

 

Provisions
158.000

149.000

400.500

Total Current Liabilities
1323.400

1084.400

2021.600

Net Current Assets
3825.100

1768.200

229.300

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

1153.400

 

 

 

 

TOTAL

6944.300

4952.100

4739.000

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

31.12.2006

31.12.2005

31.12.2004

Sales Turnover

8467.700

7213.300

7326.900

Other Income

223.800

447.000

0.000

Total Income

8691.500

7660.300

7326.900

 

 

 

 

Profit/(Loss) Before Tax

[980.500]

[226.700]

(2651.900)

Provision for Taxation

10.400

14.000

0.000

Profit/(Loss) After Tax

[990.900]

[240.700]

(2651.900)

 

 

 

 

Earnings in Foreign Currency :

 

 

 

 

FOB Value of Exports

1786.000

1527.200

 

Freight and Insurance

5.000

3.900

974.900

 

Recovery of Japanese Tax

49.900

59.600

 

Total Earnings

1840.900

1590.700

974.900

 

 

 

 

Imports :

 

 

 

 

Capital Goods

122.700

26.900

 

Raw Materials

52.700

55.300

274.700

 

Components, Spare Parts

223.500

157.200

 

Total Imports

398.900

239.400

274.700

 

 

 

 

Expenditures:

 

 

 

 

Change in Stock

[485.100]

325.400

 

Financial Charges

302.200

166.600

 

 

Depreciation

336.500

334.500

9978.800

 

Exceptional Income

0.000

1081.400

 

 

Other Expenses

9518.400

5979.100

 

Total Expenditure

9672.000

7887.000

9978.800

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2006

31.12.2005

31.12.2004

PAT / Total Income

(%)
[11.40]

[3.14]

(36.19)

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
[11.58]

[3.14]

(36.19)

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
[11.97]

[3.78]

[47.63]

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
[0.20]

[0.08]

(0.87)

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.72

1.15

1.22

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
3.89

2.63

1.11

 

LOCAL AGENCY FURTHER INFORMATION

 

Nature of Operations

 

Yamaha Motor India Private Limited is a wholly owned subsidiary of Yamaha Motor Company, Japan and is engaged in manufacturing and sale of motorcycles and spares. The company undertakes its operations from two manufacturing locations.   

 

It is in trade terms with:

 

·         Accord Enterprises Private Limited

·         Associated Engineering Industry

·         Blowell Auto Private Limited

·         Bruk Electricals Private Limited

·         Cubix Control Systems (Private) Limited

·         Cowell Rubber Industry

·         Jayme Auto Industries Private Limited

·         Roop Polymers Limited

·         S G Engineering Works

·         Seitz Technologies India Private Limited

·         Sunglow Bulbs Industries

·         Surabhi Engineering Limited

·         Wings (India)

·         Paragon Industries

·         Super Fastners of India

 

Form 8 :-

 

Name of the Company:

YAMAHA MOTOR INDIA PRIVATE LIMITED

Presented by

STANDARD CHARTERED BANK, NEW DELHI

1. Date and description of the instrument

    creating  or evidencing the charge  

Agreement of hypothecation of stocks and book debts dated 04.09.2003

2. Amount secured by the charge /amount  

    owing on security of the charge

Rs. 400.000 millions

3. Short Particular of the property charged. If

    the property acquired is subject to change

   date of acquisition of property should be

   given 

All stocks in trade both present and future consisting of raw material, finished goods, goods in process of manufacturing and other merchandise whatsoever and all present and future book debts, outstanding moneys, receivable, claims and bills etc. shall be hypothecated to the Bank by way of first charge on a pari – passu basis.

4. Gist of the terms and conditions and extent

    And operation of the charge.

Interest may be determined by the bank from time to time.

5. Names, address and description of the 

    persons entitled to charge

Standard Chartered Bank

17 Parliament Street, New Delhi – 110 001, India 

6. Date and brief description of instrument

    modifying the charge

Not Applicable

7. Particular of modification specifying the

    terms and conditions or the extent or   

    operation of the charge in which

    modification is made and the details of

    modification

Not Applicable

 

Name of the Company:

YAMAHA MOTOR INDIA PRIVATE LIMITED

Presented by

MR. K FUJIMOTO – DIRECTOR AND COO. 

1. Date and description of the instrument

    creating  or evidencing the charge  

Agreement of hypothecation of machinery dated 24.11.2003

2. Amount secured by the charge /amount  

    owing on security of the charge

Short Term Loan of Rs. 450.000 millions

3. Short Particular of the property charged. If

    the property acquired is subject to change

   date of acquisition of property should be

   given 

The term loan is secured on a pari passu basis by way of first charge on movable plant and machinery. 

4. Gist of the terms and conditions and extent

    And operation of the charge.

As per the terms of loan facilities, the interest rate on the short term loans has been linked to PLR and is negotiable at the time of draw down. The tenor of the loan is maximum 1 year. 

5. Names, address and description of the 

    persons entitled to charge

Calyon Bank

Mercantile House, 6th Floor, 15 Kasturba Gandhi Marg, New Delhi – 110 001, India

6. Date and brief description of instrument

    modifying the charge

Limits enhanced for Rs. 450.000 millions to Rs. 550.000 millions in 2004 vide hypothecation agreement dated 24.11.2003 and now enhanced to Rs. 800.000 millions vide hypothecation agreement dated 29.11.2005. 

7. Particular of modification specifying the

    terms and conditions or the extent or   

    operation of the charge in which

    modification is made and the details of

    modification

The company’s credit facilities are secured by the way of pari passu first charge on the company’s fixed assets/ current assets in line with the term and conditions specified in the Banks offer letter dated 31.10.2005 and the hypothecation agreement dated 29.11.2005.

 

 

Name of the company

YAMAHA MOTOR INDIA PRIVATE LIMITED

Presented by

MR. K. FUJIMOTO, DIRECTOR FINANCE

1) Date and description of instrument creating the change

Goods Security Agreement dated 12.03.2005

2) Amount secured by the charge/amount owing on the securities of charge

Loan / Cash Credit facility of Rs. 800.000 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 Loan / Cash credit facility is secured on a pari passu basis by way of first charge on all present and future goods, merchandise, products and / or raw materials, semi-finished and finished goods, stores and spares (including packing material), present and future book debts, etc.

4) Gist of the terms and conditions and extent and operation of the charge.

Interest on the loan / cash credit facility is payable at Citibank’s Prime Lending Rate.

5) Name and Address and description of the person entitled to the charge.

Citi Bank N. A., New Delhi

6) Date  and brief description of instrument modifying the charge

Not Applicable

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.

Not Applicable

 

Corporate identity number (CIN) Foreign company registration number

U74899DL1995PTC073540

Name of the Company

YAMAHA MOTOR INDIA PRIVATE LIMITED

Address

C- 582, LGF Defence Colony, New Delhi – 110 024, India

This form is for

Modification of charge

Type of Charge

Hypothecation

Particulars of the charge holder 

The Bank of Nova Scotia

Dr. Gopal Das Bhawan, 28, Barakhamba Road, New Delhi – 110 001, India

E-Mail: rajendra.gupta@scotiabank.com

Amount secured by the charge

Rs. 450.000 millions

Brief of the principal terms and conditions 

As per the terms of the loan facility, interest at agreed rates is chargeable on the loan facility till such time the facility is fully liquidated.  The facility shall be repaid as per the agreed terms as per the Hypothecation Agreement dated 01.08.2006

Description of the property charged indicating

It is a charge on

v      Stock in trade

v      Book debts

Particulars of the property charged

v      Raw Materials

v      Work in Progress

v      Consumable stores

v      Spares

v      Finished Goods

v      Receivables

v      Other Current Assets

Brief description of the instrument modifying the charge under section 135

Hypothecation Agreement dated 01.08.2006

Date of Instrument

01.08.2006

Particular of the present modification 

The overall limit of Rs. 300.000 millions is being increased to Rs. 450.000 millions. No other change in the terms and conditions.

 

 

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. 39.39

UK Pound

1

Rs. 78.02

Euro

1

Rs. 56.77

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions