MIRA
INFORM REPORT
|
Report Date : |
14.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
BRIDGESTONE INDIA PRIVATE LIMITED |
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Formerly Known As : |
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) : |
31.12.2006 |
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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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PAN No.: [Permanent
Account No.] |
AABCB2304E |
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Legal Form : |
Private
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 : |
USD 8900000 |
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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 its performance. However, accumulated losses are yet to be wipe
out. Its 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) / 501796 |
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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, Seksyen 26/9, 40000 Shah Alam, Selangor Darul Ehsan,
Malaysia 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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Date of Ceasing : |
31.07.2005 |
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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 : |
22.06.2003 |
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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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Date of Ceasing : |
12.08.2005 |
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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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Date of Ceasing : |
31.01.2006 |
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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 |
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Name : |
Mr. Hisao Ikawa |
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Designation : |
Managing Director |
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Address : |
BSID Residential Complex, sunshine Slope Colony MITM College complex,
Pigdambar, Post Rau, Indore – 453 331, Madhya Pradesh |
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Date of Birth/Age : |
27.05.1951 |
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Date of Appointment : |
01.08.2005 |
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Name : |
Mr. Eiichi Nagafuchi |
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Designation : |
Whole Time Director |
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Address : |
A80-A93, BSID Residential Complex, sunshine Slope Colony MITM College
complex, Pigdambar, Post Rau, Indore – 453 331, Madhya Pradesh |
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Date of Birth/Age : |
02.08.1950 |
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Date of Appointment : |
19.10.2005 |
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Name : |
Mr. Izumi Suyama |
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Designation : |
Director |
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Address : |
Room No.411, Marriot Executive Apartment, Hotel Lakeside Chalet, near
Chinmay anand Ashram, Powai, Mumbai – 400 087, Maharashtra |
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Date of Birth/Age : |
10.07.1965 |
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Date of Appointment : |
01.02.2006 |
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Name : |
Mr. Yuji Ono |
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Designation : |
Whole time director |
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Date of Birth/Age : |
25.03.1952 |
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Date of Appointment : |
11.02.2007 |
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 |
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Name : |
Mrs. Abha Jaiswal
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Designation : |
Secretary |
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132, Mahavir
Nagar, Indore – 452 018, Madhya Pradesh, India |
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Date of
Birth/Age : |
30.08.1981 |
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Date of
Appointment : |
01.08.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Bridgestone
Corporation, Tokyo, Japan |
|
275299990 |
|
Hisao Ikawa |
|
10 |
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
|
1 |
Foreign holdings (Foreign institutional
investor(s), Foreign companie(s), Foreign financial institution(s), Non-
resident India(s) or Overseas corporate bodies or others |
99.99 |
|
2 |
Directors or relative of directors |
0.01 |
BUSINESS DETAILS
|
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 · IDBI Bank Limited 26/4, Old Palasia, Indore, Uttar
Pradesh · Bank of Tokyo Mitsubishi Limited Jeevan Prakash, Sir. P. M. Road, Fort, Mumbai - 400001, Maharashtra · Mizuho Corporate Bank Limited |
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Banking Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
Deloitte
Haskins & Sells Chartered
Accountants |
|
Address : |
12,
Dr. Annie Besant Road, Opp. Shiv Sagar Estate, Worli, Mumbai – 400018,
Maharashtra |
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Tel. No.: |
91-22-22854330
/ 66679000 |
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Fax No.: |
91-22-22024499/22024337
/ 66679025 |
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Holding company: |
Bridgestones Corporation Address: 10-1, Kyobashi, 1 Chome, Chuo-ku, Japan - 1048340 |
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Associates/Subsidiaries : |
· Bridgestones Singapore Pte Limited · Firestone Polymers · P T Bridgestone Tire, Indonesia · Thai Bridgestone Company Limited · Bridgestone (Tianjin) Tire Company Limited · Bridgestone Middle East Fze Dubai · BRISA Bridgestone Sabanci · Bridgestone Europe NV/SA |
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 |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2753.000 |
2753.000 |
2753.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
[517.407] |
[664.002] |
[818.507] |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2235.593 |
2088.998 |
1934.493 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
100.000 |
100.320 |
253.467 |
|
|
2] Unsecured Loans |
722.389 |
786.555 |
748.999 |
|
|
TOTAL BORROWING |
822.389 |
886.875 |
1002.466 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3057.982 |
2975.873 |
2936.959 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2150.295 |
2221.136 |
2230.364 |
|
|
Capital work-in-progress |
231.606 |
72.980 |
30.486 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
816.429
|
776.713 |
639.721 |
|
|
Sundry Debtors |
574.845
|
550.206 |
600.926 |
|
|
Cash & Bank Balances |
44.744
|
17.718 |
38.178 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
113.339
|
92.447 |
69.945 |
|
Total
Current Assets |
1549.357
|
1437.084 |
1348.770 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
865.247
|
691.543 |
624.844 |
|
|
Provisions |
8.029
|
63.784 |
47.817 |
|
Total
Current Liabilities |
873.276
|
755.327 |
672.661 |
|
|
Net Current Assets |
676.081
|
681.757 |
676.109 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3057.982 |
2975.873 |
2936.959 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
|
Sales Turnover |
4900.303 |
3351.325 |
3105.387 |
|
|
Other Income |
41.257 |
58.005 |
13.606 |
|
|
Total Income |
4941.560 |
3409.330 |
3118.993 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
150.803 |
159.570 |
79.415 |
|
|
Provision for Taxation |
4.208 |
5.065 |
0.055 |
|
|
Profit/(Loss) After Tax |
146.595 |
154.505 |
79.360 |
|
|
|
|
|
|
|
|
FOB Value of Exports |
1.075 |
2.451 |
2.456 |
|
|
|
|
|
|
|
|
CIF Value of Import |
|
|
|
|
|
|
Raw Materials |
949.230 |
774.420 |
669.454 |
|
|
Components and Spares Parts |
16.734 |
29.422 |
15.189 |
|
|
Capital Goods |
175.092 |
155.610 |
109.848 |
|
Total Imports |
1141.056 |
959.452 |
794.491 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial charges |
56.360 |
57.007 |
60.337 |
|
|
Depreciation & Amortization |
358.301 |
321.555 |
299.714 |
|
|
Other Expenditure |
3961.435 |
2669.901 |
2346.908 |
|
Total Expenditure |
4376.096 |
3048.463 |
2706.959 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
PAT / Total Income |
(%) |
2.96
|
4.53 |
2.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.07
|
4.76 |
2.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.83
|
4.27 |
2.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.07 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.75
|
0.78 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77
|
1.90 |
2.00 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
|
Name of the company |
BRIDGESTONE INDIA
PRIVATE LIMITED |
||||||||||||||
|
Presented By |
Mr. K G Shenoy
and MR. K Mitsuvasu Directors of the
company (name and
designation of the official of the Company) |
||||||||||||||
|
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.350.000
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 amount stated
in (2) above is secured by equitable mortgage of the immovable property of
the company created by deposit of title deeds relating to several landed
properties of the borrower together with all assets permanently fixed to the
lands and building and plant and machinery a pertaining to or on part 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
(2) is secured by the borrower by hypothecation of the goods/ items mentioned
in column (3) for the amounts 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 mortgage
property shall also secure the following amounts: In respect of
State Bank of India
|
||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Bank of Tokyo – Mitsubishi Limited Address: “Jeevan Prakash:” Sir PM Road, Fort, Mumbai – 400 001 |
||||||||||||||
|
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 Industrial, Kheda, 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 Industrial, 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 passu 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 |
FIXED ASSETS:
· Land
-
Leasehold
-
Freehold
· Building
· Plant and Machinery
· Office equipment
· Furniture and fixtures
· Vehicles
OTHER INFORMATION:
The company has been
accredited with ISO -14001 Certification.
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 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, Subject 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.
Subject 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 the company 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.
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.39.28 |
|
UK Pound |
1 |
Rs.80.87 |
|
Euro |
1 |
Rs.57.68 |
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 |
|