MIRA
INFORM REPORT
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Report Date : |
13.09.2007 |
IDENTIFICATION DETAILS
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Name : |
VICTOR REINZ INDIA PRIVATE LIMITED |
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Registered Office : |
46/2/1B, Kaka Halwai Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.05.2004 |
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Com. Reg. No.: |
25-019249 |
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CIN No.: [Company
Identification No.] |
U29299PN2004PTC019249 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEV05449D |
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PAN No.: [Permanent
Account No.] |
AABCV9633L |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Cylinder head gaskets. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 400 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company and passing through difficult times. Company
continue to incur losses. Payments are reported as slow and delayed. The company can be considered for any business dealings on fully safe
and secured trade terms and conditions only. |
LOCATIONS
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Registered Office : |
46/2/1B, Kaka Halwai Industrial Estate, |
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Tel. No.: |
91-20-24223141 / 24220244 |
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Fax No.: |
91-20-24226397 / 24223141 |
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Email : |
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Website : |
DIRECTORS
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Name : |
Mr. Franz Hieble Xaver |
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Designation : |
Director |
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Address : |
14 Holder Strasse , Senden, GE – 089250 Tel No.: 49-7307-21108 |
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Date of Birth/Age : |
27.12.1952 |
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Date of Appointment : |
01.12.2006 |
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Name : |
Mr. Manfred Birkle Wilhelm |
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Designation : |
Director |
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Address : |
3 Pestalozzistr, Neuulm – 089233 Tel No.: 49-731-7046602 Fax No.:49-731-7046603 |
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Date of Birth/Age : |
10.11.1949 |
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Date of Appointment : |
01.12.2006 |
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Name : |
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Designation : |
Director |
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Address : |
Sindoor, Plot No. 15, Giriraj Society, Aundh, Pune, - 411007, Tel No.: 91-20-25658727 / 256567620 |
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Name : |
Mr. Jayant Avinash Dave |
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Designation : |
Director |
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Address : |
Sindoor, Plot No. 15, Giriraj Society, Aundh, Pune, - 411007, Tel No.: 91-20-25658727 / 256567620 |
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Date of Appointment : |
13.05.2004 |
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Name : |
Mr. Aakash Jayant Dave |
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Designation : |
Director |
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Address : |
Sindoor, Plot No. 15, Giriraj Society, Aundh, Pune, - 411007, Tel No.: 91-20-25658727 / 256567620 |
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Date of Appointment : |
13.05.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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1. Mr. Jayant Avinash Dave |
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9800 |
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2. Mrs. Pragna Jayant Dave |
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100 |
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3. Mr. Aakash JAyant Dave |
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100 |
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Total |
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1000 |
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors |
100 % |
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Total |
100 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cylinder head gaskets. |
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Products : |
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GENERAL INFORMATION
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Customers : |
Tata Motors Limited |
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Bankers : |
HDFC Bank Limited |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Pranav Doshi and Company Chartered Accountant |
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Address : |
258, Shukrawar Peth, C-4, |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Share |
Rs.10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[0.373] |
[0.000] |
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NETWORTH |
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[0.273] |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.485 |
0.029 |
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TOTAL BORROWING |
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0.485 |
0.029 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.212 |
0.129 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.184 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.895 |
0.000 |
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Sundry Debtors |
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0.704 |
0.000 |
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Cash & Bank Balances |
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0.183 |
0.099 |
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Other Current Assets |
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0.007 |
0.000 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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1.789 |
0.099 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.621 |
0.000 |
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Provisions |
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0.166 |
0.003 |
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Total
Current Liabilities |
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1.787 |
0.003 |
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Net Current Assets |
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0.002 |
0.096 |
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MISCELLANEOUS EXPENSES |
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0.026 |
0.033 |
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TOTAL |
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0.212 |
0.129 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover and Other Income |
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1.228 |
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Total Income |
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1.228 |
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Profit/(Loss) Before Tax |
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[0.547] |
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Provision for Taxation |
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[0.174] |
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Profit/(Loss) After Tax |
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[0.373] |
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Expenditures : |
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Total Expenditure |
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1.775 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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[30.37] |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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[44.54] |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[30.58] |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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[2.00] |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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[8.32] |
0.32 |
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Current Ratio (Current Asset/Current Liability) |
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1.00 |
33.00 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Press Releases
Victor Reinz after market achieves outstanding results in
customer satisfaction
17.08.2007
Victor Reinz after market achieves outstanding results in customer satisfaction
Once again, Victor Reinz after market business division attained outstanding results in this year’s customer satisfaction survey. In comparison to the previous survey, an additional improvement in the overall ranking was achieved, for which the “Award for high customer satisfaction” was bestowed upon Reinz for the second time. This title represents the Steinbeis Foundation’s highest appreciation.
In the overall ranking, Reinz after market achieved second place among 40 other companies in the benchmark. The quantitative assessments, as well as the comments provided by their customers, not only confirmed their very good 2005 results, but even brought their additional improvements to light. Highlighted were mentioned strengths, such as the technical standard, product quality, as well as the skilled and very friendly customer support.
They would like to express their heartfelt gratitude for their customers’ avid participation, the extraordinarily good appraisal, and the constructive criticism. They thankfully accept the criticism, and will also continually strive to improve in the future. Their future goal is to attain first place, while ensuring that their customers are delighted with their products as well as their service.
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.49 |
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1 |
Rs.82.38 |
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Euro |
1 |
Rs.56.14 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
-- |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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11 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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