MIRA INFORM
REPORT
|
Report
Date : |
01.09.2007 |
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
: |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
09.08.2000 |
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Com.
Reg. No.: |
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
12340000 |
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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, As it is backed by a well known MNC, it can be considered
normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered
Office : |
S P Koil Post, Chengalpattu- 603
204, Kancheepuram District, Tamil |
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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 |
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Tel.
No.: |
91-4114-254375 |
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Fax
No.: |
91-4114 –254278 |
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Workshop : |
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Tel.
No.: |
91-44-25022139, 24759342 |
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Showroom : |
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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 : |
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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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Address
: |
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Date
of Birth/Age : |
29.05.1952 |
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Date
of Appointment : |
14.08.2002 |
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Date
of Ceasing : |
11.06.2005 |
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Name : |
Mr. David Eliot Friedman |
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Designation
: |
Managing Director |
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Address
: |
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Date
of Birth/Age : |
13.03.1962 |
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Date
of Appointment : |
05.01.1999 |
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Date
of Ceasing : |
31.08.2005 |
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Name : |
Mr. Anand G. Mahindra |
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Designation
: |
Director |
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Address
: |
Gulistan, first Floor, 65, |
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Date
of Birth/Age : |
01.05.1955 |
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Date
of Appointment : |
12.03.1996 |
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Date
of Ceasing : |
28.03.2005 |
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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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Address
: |
8, St. Helen’s Court, Dr. Gopal Rao Deshmukh Marg,
Mumbai-400026 |
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Date
of Birth/Age : |
12.06.1949 |
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Date
of Appointment : |
12.03.1996 |
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Date
of Ceasing : |
28.03.2005 |
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Name: |
Mr. John Vincent Felice |
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Designation: |
Director |
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Address
: |
20901, Oakwood Boufevard, |
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Date
of Birth/Age : |
14.11.1961 |
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Date
of Appointment : |
14.08.2002 |
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Date
of Ceasing : |
11.06.2005 |
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Name: |
Mr. Sam Main Padam |
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Designation: |
Director |
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Address
: |
2D, Renga Manor, |
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Date
of Birth/Age : |
20.06.1962 |
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Date
of Appointment : |
16.10.1996 |
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Date
of Ceasing : |
11.03.2005 |
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Name: |
Mr. George Henry Graham |
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Designation: |
Whole Time Director |
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Address
: |
D1, 37 Bishop Garden, R A Puram, Chennai-600028 |
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Date
of Birth/Age : |
31.07.1951 |
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Date
of Appointment : |
01.03.2002 |
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Date
of Ceasing : |
06.05.2005 |
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Name : |
Ms. Kathryn Lucy Millar ( |
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Designation
: |
Director |
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Address
: |
Flat
No.6, Mayflower Apartments, No.9, |
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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, |
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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, |
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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, |
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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, |
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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 |
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Name : |
Mr. Phil
Horlock |
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Designation
: |
Director |
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Address
: |
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Date
of Birth/Age : |
31.07.1951 |
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Date
of Appointment : |
01.03.2002 |
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Date
of Ceasing : |
11.06.2005 |
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|
Name : |
Mr.
Ravindra K Kulkarni |
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Designation
: |
Director |
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Name : |
Mr.
Ardeshir R Wadia |
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Designation
: |
Director |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mahindra
& Mahindra Limited, Mumbai |
13500000 |
|
Tata AIG
General Insurance Company Limited |
5 |
|
Indian
Overseas Bank |
10 |
|
The
Hongkong Shenghai Banking Corporation Limited |
10 |
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HDFC Bank
Limited |
10 |
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HDFC Bank
Limited |
25 |
As on 31.03.2006
Foreign holdings 100%
BUSINESS DETAILS
|
Line
of Business : |
Manufacturing and Marketing of Passenger Cars (Ford Ikon) |
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Products
: |
Ø Endeavour Ø Ikon Ø Mondeo Ø Fusion Ø Fiesta Ø Ford |
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Export:
|
Cars to |
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
|
No. of
Employees : |
22000 |
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Bankers
: |
Ø ABN Amro Bank N.V. Ø Bank Of Ø Canara Bank Ø Citibank N.A. Ø Credit Ø Deutdche Bank Ø Ø ICICI Bank Ø Indian Overseas Bank Ø Standard Chartered Bank Ø Union Bank of Ø State Bank of Ø IDBI Bank Ø HDFC Bank Limited Indian Overseas Bank, MM Nagar
Branch, |
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Facilities : |
Secured Loans : (As on 31.03.2005) (Rs. In millions)
Unsecured Loans :
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Banking Relations : |
Satisfactory |
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Auditors
: |
Lovelock & Lewes Chartered Accountants, Chennai. |
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Address |
32, |
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Holding
Company : |
Ford
Motor Company |
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Associates/Subsidiaries
: |
Common Control Ø
Ford Business Services Center Private
Limited Ø
Ford Motor Company Brazil Limited Ø
Ford Motor Company Limited, Ø
Ford Espana Ø
Ford Werke AG Ø
Ford Trading Company LLC Ø
Ford Motor Company of Australia Limited Ø
Ford Global Technoloties Inc. Ø
Ford Motor Company, Ø
Ford Motor Company, Ø
Ford Motor Company, Phillipines Ø
Ford Motor Company of Southern Africa
Manufacturing Pty Limited Ø
Changan Ford Automobile Corporation Limited Ø
Ford Vietnam Limited Ø
Ford Ø
Ford Operations ( Ø
Ford Sales and Service ( Ø
Thirdware Solutions Limited Ø
Ford of Ø
Ford of Ø
Ford Motor Company, Ø
DCS Holding Company Ø Getrag
Ford Transmissions Gmbh Ø Ford
Technology Services Ø Mazda
Motor Corporation Ø Ford of |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
150000000 |
Equity Shares |
Rs.100/- each |
Rs. 15000.000 million |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
98608100 |
Equity Shares |
Rs.100/- each |
Rs. 9860.810 million |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
9860.810 |
8500.000 |
8500.000 |
|
|
2] Share
Application Money |
1109.190 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4]
(Accumulated Losses) |
(7884.129) |
[6408.476] |
(6289.036) |
|
NETWORTH
|
3085.871 |
2091.524 |
2210.964 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
4084.578 |
5416.257 |
4825.209 |
|
|
2]
Unsecured Loans |
1862.421 |
2380.868 |
1752.646 |
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TOTAL
BORROWING
|
5946.999 |
7797.125 |
6577.855 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL
|
9032.870 |
9888.649 |
8788.819 |
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|
|
|
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APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block]
|
10103.621 |
7462.547 |
7569.428 |
|
Capital work-in-progress
|
59.755 |
2119.348 |
584.389 |
|
|
|
|
|
|
|
Unique Tooling Secured Advances
|
0.000 |
897.856 |
1089.866 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
2300.437
|
2475.393
|
985.288
|
|
|
Sundry Debtors
|
475.068
|
519.949
|
528.337
|
|
|
Cash & Bank Balances
|
273.642
|
51.621
|
189.770
|
|
|
Other Current Assets
|
43.345
|
45.940
|
71.223
|
|
|
Loans & Advances
|
876.626
|
551.001
|
370.085
|
Total Current Assets
|
3969.118
|
3643.904
|
2144.703 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
4910.555
|
4083.556
|
2490.672
|
|
|
Provisions
|
190.272
|
154.456
|
115.142
|
Total Current Liabilities
|
5100.827
|
4238.012
|
2605.814 |
|
Net
Current Assets
|
(1131.709)
|
[594.108]
|
[461.111] |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
1.203 |
3.006 |
6.247 |
|
|
|
|
|
|
|
TOTAL
|
9032.870 |
9888.649 |
8788.819 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
|
13451.046 |
11095.734 |
|
|
Other Income |
|
328.314 |
182.707 |
|
|
Total
Income |
|
13779.360 |
11278.441 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
(119.440) |
(465.353) |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
(119.440) |
(465.353) |
|
|
|
|
|
|
|
|
Earnings
in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
|
1450.639 |
1445.398 |
|
|
Commission Earnings |
|
113.786 |
0.000 |
|
Total
Earnings |
|
1564.425 |
1445.398 |
|
|
|
|
|
|
|
|
Imports
: |
|
|
|
|
|
|
Raw Materials |
|
|
|
|
|
Purchase for resale |
|
230.489 |
144.572 |
|
|
Capital Goods |
|
186.705 |
52.910 |
|
|
Others |
|
3747.843 |
1905.727 |
|
Total
Imports |
|
4165.037 |
2103.209 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
10871.235 |
8850.956 |
|
|
Administrative Expenses |
|
2046.817 |
1871.557 |
|
|
Financial Charges |
|
301.146 |
435.093 |
|
|
Depreciation & Amortization |
|
740.870 |
596.666 |
|
Total
Expenditure |
|
13960.069 |
11754.273 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
NA
|
(0.87) |
(4.13) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(0.89) |
(4.13) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(0.58) |
(4.79) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(1.41) |
(5.47) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.58
|
0.92 |
4.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78
|
0.86 |
0.82 |
LOCAL AGENCY FURTHER
INFORMATION
Fixed Assets:
Ø Land-Freehold
Ø Leasehold Improvement
Ø Building
Ø Plant and Machinery
Ø Computers
Ø Furniture and Fixtures
Ø Vehicles
Form 8 Particular for creation
or modification of charges
|
Corporation identity number or foreign company registrations
number of the company |
U34103TN2000PTC045537 |
|
Name of the company |
FORD INDIA PRIVATE LIMITED |
|
Address |
S P Koil Post, Chengalpattu- 603
204, Kancheepuram District, Tamil Nadu |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Immovable property |
|
Particular of the charge holder |
Indan Overseas Bank Limited, |
|
Nature or description of the instrument creating
charge |
No instrument was execured but on 15.03.2007 a mortgage
was created by the company infavour of Indan Overseas Bank by deposit of
title deeds with ICICI Bank in respect of company’s immovable properties
situated at Klikarabai and Thirukatchur, Chengelpur Taluk, Kancheepuram
District in the state of Tamilnadu in order to create a security thereon as tend
byway of mortgage by deposit of title deeds pursuant to the resolution passed
by the directors of the company on 15.12.2005 |
|
Date of the instrument creating charge |
15.03.2007 |
|
Amount Secure by the charge |
Rs.250.000 millions |
|
Brief of the principal terms and conditions and extent and
operation of the charge |
Rate of interest As stipulated in the loan agreement |
|
Particulars of the Property charged |
The company’s immovable poroerties
situiated at Kilkaranai and Thirutchur, Chegelpur Taluk, Kancheepuram
District in the state of Tamilnadu as defined in the loan atgreement and as defined in the
memorandum of entry. |
|
Particulars of the present modification |
No instrument was executed but on 15.03.2007 a mortgage
was created by the company in favour of Indian Overseas Bank by deposit of
title deeds with ICICI Bank in respect of company’s immovable properties
situated at Klikarabai and Thirukatchur, Chengelpur Taluk, Kancheepuram
District in the state of Tamilnadu in order to create a security thereon as
tand byway of mortgage by deposit of title deeds pursuant to the resolution
passed by the directors of the company on 15.12.2005 |
Ford India Private Limited is a wholly owned subsidiary of
Ford Motor Company,
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
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
Mr Arvind Mathew joined Ford in 1990 after completing his
Masters in Engineering and MBA from the
During the year, Ford
International Services Inc. USA, a wholly owned subsidiary of Ford Motor
Company,
Press Clippings
Ford
April 17, 2007
Ford
Speaking at the occasion, Scott said, "As
Ford
"Quality Care Lite program is a new
initiative, specially designed for dealerships in tier 2 and tier 3 markets to
render more productive and efficient services. I congratulate Bhagat
Ford-Dehradun on being the first dealership to receive the accreditation in
Ford Asia pacific and
Quality Care combines world class standards of
quality service systems to provide pleasurable, convenient and comfortable
automobile servicing experience to customers. The program evaluates all aspects
of after-sales service such as customer appointment; quality; delivery of
repaired vehicle; time management and spare parts availability.
Raj Naresh Singh said, "They are very happy
to be accredited as a Quality Care dealership. Implementation of this global
program will lead to better customer satisfaction. They are proud of the fact
that theirdealership is the first accredited Quality Care Lite Dealership in
the Asia Pacific Region. They hope to offer the best in class service to Ford
customers and set a benchmark in the region."
Quality Care is an effective tool to ensure
supreme customer satisfaction where in from the beginning of the process,
customers are given a guaranteed start and completion time for the duration of
the repair cycle. The Dealer Customer Relationship Centre [DCRC] remains in
regular contact with the customer while the car is being serviced. The program
also allows the dealer to provide the customer with an estimate of the cost of
repair and enables the dealer to measure workshop's adherence to various
processes and standards.
Bhagat Ford is a modern 3-S integrated facility
built according to Ford's global standards. All Ford models including the Ikon,
Fusion, Endeavour and Fiesta are available at the dealership. Equipped with a
group of 15 skillful technicians, the dealership provides sales and service
facility to its customers. The facility also has a 24-hour help line, Ford
Preferred Insurance and offers easy in-house finance options to customers
through a tie up with leading banks such as ICICI Bank and HDFC Bank.
Spread over an area of 25,000 sq.ft, Bhagat Ford
offers the highest quality sales and service experience to Dehradun as well as
the other hill districts in Uttaranchal. It has a separate sales counter for
sales related queries and a customer lounge. In addition, the showroom area is
surrounded by more than 5000sq.ft. of garden area with recreational facilities
to ensure complete family entertainment.
About Ford
Established in 1995, Ford
Ford
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
Research and Development and Technology Absorption:
As a part of the ford motor company, ford
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.
Contingent Liabilities
:
The company has availed cusoms duty exemption to the lune of
Rs.895.495 milions for imports under the Export Promotion ‘Capital Goods
Scheme. The Company is in the process of meeting the onbligations under the
scheme.
Claims against the company not acknowledged as debt with
respect to disputed excise, sales tax and other malters amounts to Rs.505.676
millions
Financial guarantees outstanding – Rs.9.394 millions
Website Detail Attach:
They're
committed to making a difference - for ourselves and for future generations.
Theirindustry
is a particularly stimulating one for graduates and there are few other
companies like us.
Learn about
theirhistory and theirvision for the future as they celebrate their100th
anniversary.
Ford
28/09/2005 Ford
to name its new model 'Fiesta' in
10/08/2005 V.
Sivaramakrishnan appointed Vice-President of Sales, Marketing and Service
at Ford
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
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
17/04/2005 Ford
inaugurates KS Ford dealership in Bhilwara
16/04/2005 Ford
enhances to Brand @ Retail facility at
17/03/2005 Latest
Ford Mondeo debuts in
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
21/01/2005 Ford
inaugurates new showroom at
17/12/2004 New
Ford showroom at Prabhadevi Mumbai.
24/11/2004 New
Ford Dealership inaugurated in
02/11/2004 Ford
Chief Operating Officer flags off First Fusion in
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
30/07/2004 Ford
plans to ramp up dealership facility in
13/07/2004 Ford
launches Cargainz a unique Customer Loyalty programme
14/06/2004 Ford
01/04/2004 Ford
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
19/06/2003 Ford
Celebrates Centennial in
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,
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
Ford
Ford is present in the C-Segment with the Ikon, and in the
D-Segment with the Mondeo. Ford
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
Ø Uncertainty and
fluctuations in the Indian car market
Ø Reluctance of Indian
consumers to upgrade cars.
Initially, this had
resulted in lower than expected sales volume in the C-Segment.
Ford
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.
Ø
Ford
Ø
Ford launched ‘Flair’, at a price aimed at attracting the B Plus
segment of car customers
Ø
Ford Mondeo comes in two different variants: Ford Mondeo, Ford
Mondeo Ghia
Ø
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,
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.40.88 |
|
|
1 |
Rs.82.58 |
|
Euro |
1 |
Rs.55.79 |
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 |