MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
H-ONE INDIA PRIVATE LIMITED |
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Formerly Known As : |
HONGO INDIA PRIVATE LIMITED |
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Registered Office : |
12, Udeyog Viharsurajpur Kasna Road, Noida – 201306, Uttat Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.12.1997 |
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Com. Reg. No.: |
20-23702 |
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CIN No.: [Company
Identification No.] |
U73200UP1998PTC023702 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of auto mobiles components |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 3000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track
records. Trade relations are fair. No payments records are available. The company can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
12, Udeyog Viharsurajpur Kasna Road, Noida – 201306, Uttat Pradesh,
India. |
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Tel. No.: |
91-120-2569892 |
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Fax No.: |
91-120-2569895 |
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E-Mail : |
c.s@h-oneindia.com |
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Website : |
DIRECTORS
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Name : |
Mr. Junko Kubo |
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Designation : |
Managing Director |
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Address : |
C-535, Defance Colony, New Delhi – 110024, India. |
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Name : |
Mr. Kohei Inoue |
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Designation : |
Director |
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Address : |
C-500, Defance Colony, New Delhi – 110024, India. |
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Date of Birth/Age : |
14.12.1951 |
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Date of Appointment : |
27.10.2002 |
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Name : |
Mr. Shizuo Imada |
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Designation : |
Director |
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Address : |
707-2, Kamiko – Chu, Omiya Saitana – 331, Japan |
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Date of Birth/Age : |
19.03.1946 |
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Date of Appointment : |
30.07.2002 |
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Name : |
Mr. Siddharth Shriram |
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Designation : |
Director |
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Address : |
3A, Chitrakoot – 66, The Green, Rajokari, new Delhi – 110038, India. |
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Date of Birth/Age : |
18.04.1945 |
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Date of Appointment : |
22.09.2003 |
KEY EXECUTIVES
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Name : |
Mr. Eitaro Endo |
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Designation : |
Chairman Cum – Managing Director |
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Address : |
10.09.1956 |
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Date of Birth/Age : |
D-239, Defance Colony, New Delhi – 110024, India. |
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Date of Appointment : |
20.09.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 22.06.2005
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Names of Shareholders |
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No. of Shares |
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Hongo Company Limited |
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26324998 |
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Pawha Builders Private Limited |
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1 |
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Eitaro Endo |
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1 |
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Siel Holoings Limited |
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1385525 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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95.00 |
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Bodies corporate |
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5.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of auto mobiles components. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Mizuho Corporate Bank Limited 4th Floor, East Tower, Sood Tower, 25, Barakhamba Road, New
Delhi – 110001, India. |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Chaturvedi and Company Chartered Accountant |
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Address : |
405-407, Chiranjivi Tower, Nehru Place, New Delhi – 110049, India. |
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Holding Company: |
Ř H-ONE COMPANY
LIMITED, JAPAN |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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40000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 400.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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27710525 |
Equity Shares |
Rs. 10/- Each |
Rs. 277.105 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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277.105 |
277.105 |
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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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194.332 |
131.490 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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471.437 |
408.595 |
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LOAN FUNDS |
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1] Secured Loans |
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351.863 |
342.307 |
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2] Unsecured Loans |
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7.500 |
17.500 |
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TOTAL BORROWING |
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359.363 |
359.807 |
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DEFERRED TAX LIABILITIES |
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19.292 |
25.411 |
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TOTAL |
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850.092 |
793.813 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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577.521 |
620.372 |
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Capital work-in-progress |
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43.593 |
2.629 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.889 |
0.572 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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151.874 |
110.851 |
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Sundry Debtors |
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122.510 |
165.064 |
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Cash & Bank Balances |
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13.438 |
6.996 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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151.579 |
139.064 |
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Total
Current Assets |
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439.401 |
421.975 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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115.396 |
197.440 |
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Provisions |
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96.059 |
54.509 |
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Total
Current Liabilities |
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211.455 |
251.949 |
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Net Current Assets |
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227.946 |
170.026 |
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MISCELLANEOUS EXPENSES |
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0.143 |
0.214 |
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TOTAL |
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850.092 |
793.813 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.36 |
1.49 |
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Current Ratio (Current Asset/Current Liability) |
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2.07 |
1.67 |
LOCAL AGENCY
FURTHER INFORMATION
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U73200UP1998PTC023702 |
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Name of the company
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H-ONE INDIA
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
12 Udeyog
Viharsurajpur Kasna Road, Noida – 201306, Uttar Pradesh, India. |
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Type of charge |
Movable property (not being pledge) |
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Particular of
charge holder |
Mizuho Corporate Bank Limited 4th Floor, East Tower, Sood Tower, 25, Barakhamba Road, New
Delhi – 110001, India. |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of loan
for term loan limit for secured
advances Letter regarding
the grant of individual limits within the overall limit. |
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Date of
instrument Creating the charge |
16.01.2007 |
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Amount secured by
the charge |
Rs. 50.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of interest
:- MIBOR Linked Terms of repayment Terms of
repayment – bullet payment at the end of the 24th month from the
first drawdown. Margin Margin- as
prescribed by the bank from time to time Extent and operation of the charge Extent and
operation of the charge – 100% |
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Short particulars
of the property charged |
Second charge on the
plant and machinery of the company, both present and future, ranking
pari-passu with other exisiting banks. |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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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