MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HONDA MOTORCYCLE AND SCOOTER INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No. 1, Sector -3, IMT Manesar, Gurgaon 122050, Haryana. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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CIN No.: [Company
Identification No.] |
U35912HR2001PTC034649 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of 2 Wheelers. |
RATING &
COMMENTS
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MIRAs 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 18000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct, |
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Litigation : |
Clear |
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Comments : |
Subject is a well established subsidiary of Honda, Japan. Trade
relations are fair. Payments are reported as correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 1, Sector -3, IMT Manesar, Gurgaon 122050, Haryana, India. |
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Tel. No.: |
91-124-2290911 19 / 2290926 |
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Fax No.: |
91-124-2290891 / 2290890 |
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E-Mail : |
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Factory 1: |
Bangalore office Kareem towers, #19/5 and 19/6, 2nd floor, Cunningham road,
Bangalore 560 052, India. |
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Tel. No.: |
91-22-22282419 / 22384090 / 91 |
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Fax No.: |
91-22-22282409 |
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Factory 2: |
Pune Office Plot No.26, Survey No. 47, Vivek Nagar, Akurdi, Pune 411 035,
Maharashtra, India. |
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Tel. No.: |
91-20-27240026 / 27 / 28 |
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Factory 3: |
Kolkata Office 1st Floor, Amar Jyoti Building, 10 Belvedre Road, Alipore, Kolkata
- 700027, West Bengal, India. |
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Tel. No.: |
91-33-24565747 / 44013200 |
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Fax No.: |
91-33-44013201 |
DIRECTORS
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Name : |
Mr. Yukihiro Aoshima |
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Designation : |
Managing Director |
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Address : |
E 5/6, First Floor, Vasant Vihar, New Delhi 110057, India. |
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Date of Birth/Age : |
03.09.1953 |
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Name : |
Mr. Shinji Aoyama |
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Designation : |
Additional Director |
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Address : |
4/24, Ground Floor, Shanti Niktan, New Delhi 110021, India. |
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Date of Birth/Age : |
25.12.1963 |
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Date of Appointment : |
01.06.2007 |
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Name : |
Mr. Sadao Kariya |
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Designation : |
Additional Director |
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Address : |
207-B, Beverly Park I, DLF II, M.G.Road, Gurgaon 122002,
Haryana, India. |
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Date of Birth/Age : |
23.08.1956 |
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Date of Appointment : |
01.06.2007 |
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Name : |
Mr. Satoshi Matsuzawa |
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Designation : |
Additional Director |
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Address : |
5-10-13, Midorigaoka, Hiki-Gun Ogawa-Cho, Saitama 3550315. |
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Date of Birth/Age : |
02.03.1960 |
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Date of Appointment : |
01.06.2007 |
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Name : |
Mr. Takashi Nagai |
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Designation : |
Additional Director |
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Address : |
14, Sarasin Building, Surasak Road, Silom, Bangrak 10500 |
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Date of Birth/Age : |
07.02.1959 |
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Date of Appointment : |
01.06.2007 |
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Name : |
Mr. Masayuki Kato |
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Designation : |
Whole Time Director |
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Address : |
Flat No. 702, Block 24, heritage City, DLF II, Gurgaon 122002,
Haryana, India. |
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Date of Birth/Age : |
20.05.1953 |
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Date of Appointment : |
01.10.2004 |
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Name : |
Mr. Hiroshi Iwakami |
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Designation : |
Whole time director |
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Address : |
H.No. LTH 0115A, Laburnum, Condominum, Sector 28, Gurgaon 122002,
Haryana, India. |
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Date of Birth/Age : |
27.02.1957 |
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Date of Appointment : |
05.12.2003 |
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Name : |
Mr. Koji Nakazono |
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Designation : |
Nominee Director |
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Address : |
3-20-14, Kyuden, Setagaya Ku Tokyo 1570064. |
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Date of Birth/Age : |
11.12.1947 |
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Date of Appointment : |
01.10.2004 |
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Name : |
Mr. Masahiro Takedagawa |
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Designation : |
Nominee Director |
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Address : |
Room No. 614, C/O Hotel Metropoliton Nikko, Bangla Sahib Road, New
Delhi 110001, India. |
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Date of Birth/Age : |
26.04.1955 |
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Date of Appointment : |
08.04.2005 |
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Name : |
Mr. Yoichi Mizutani |
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Designation : |
Whole time director |
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Address : |
4/24, Ground Floor, Shanty Niketan, New Delhi 110021, India. |
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Date of Birth/Age : |
07.06.1961 |
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Date of Appointment : |
15.06.2005 |
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Name : |
Mr. Hiroshi Nagata |
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Designation : |
Whole time director |
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Address : |
E 9/2, First Floor, Vasant Vihar, New Delhi 110057, India. |
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Date of Birth/Age : |
30.11.1954 |
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Date of Appointment : |
01.04.2005 |
KEY EXECUTIVES
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Name : |
Mr. Sudhakar Awasthi |
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Designation : |
Secretary |
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Address : |
T-904, Vasundhra valley Apartment, Sector 6, Vasundhra, Ghaziabad
201012, Uttar Pradesh, India. |
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Date of Birth/Age : |
28.09.1970 |
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Date of Appointment : |
01.04.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of 2 Wheelers. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
BSR and Associates Chartered Accountant |
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Address : |
4B, DLF Corporate Park, DLF City, Phase III, Gurgaon 122002,
Haryana, India. |
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Holding Company: |
Ψ Honda Motor
Company Limited |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 3000.000
Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 3000.000 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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3000.000 |
3000.000 |
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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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476.118 |
683.865 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3476.118 |
3683.865 |
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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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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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3476.118 |
3683.865 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3758.611 |
3724.802 |
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Capital work-in-progress |
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143.150 |
300.563 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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106.040 |
57.201 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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603.569 |
802.303 |
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Sundry Debtors |
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169.656 |
186.079 |
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Cash & Bank Balances |
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2059.437 |
1527.074 |
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Other Current Assets |
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13.194 |
3.027 |
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Loans & Advances |
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370.946 |
296.241 |
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Total
Current Assets |
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3216.802 |
2814.724 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3730.841 |
3201.099 |
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Provisions |
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17.644 |
12.326 |
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Total
Current Liabilities |
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3748.485 |
3213.425 |
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Net Current Assets |
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(531.683) |
(398.701) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3476.118 |
3683.865 |
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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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1.07 |
0.87 |
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Current Ratio (Current Asset/Current Liability) |
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0.85 |
0.87 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEB SITE
DETAILS
COMPANY PROFILE
Honda is the world's largest manufacturer of 2-wheelers. Its
symbol, the Wings, represents the company's unwavering dedication in achieving
goals that are unique and above all, conforming to international norms. These
wings are now in India as Honda Motorcycle and Scooter India Private Limited
(HMSI), a wholly owned subsidiary of Honda Motor Company Limited, Japan. These
wings are here to initiate a change and make a difference in the Indian
2-wheeler industry. Honda's dream for India is to not only manufacture
2-wheelers of global quality, but also meet and exceed the expectations of
Indian customers with outstanding after sales support.
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 Intl
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 companys 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 |
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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