MIRA
INFORM REPORT
|
Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HYUNDAI MOTOR INDIA LIMITED |
|
|
|
|
Registered Office : |
Plot No. H-1, SIPCOT Industrial Park, Irrungattukottai, Sriperumpudur Taluk, Kanchipuram District - 602 105, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
06.05.1996 |
|
|
|
|
Com. Reg. No.: |
18-35377 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29309TN1996PLC035377 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEH02069E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturing of Motor Cars, Parts and Accessories. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 100000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject has been a successful car producer in India and has emerged as 2nd largest players in the country. The company has been doing well. Financial position is good. The company has been doing very well. Its financial position is good. Its payments are correct and as per commitments. The company can be considered good for any normal business dealings. It can be regarded as a promising business partner in a medium to long run. |
LOCATIONS
|
Registered Office : |
Plot No. H-1, SIPCOT Industrial Park, Irrungattukottai, Sriperumpudur Taluk, Kanchipuram District - 602 105, Tamilnadu, India |
|
Tel. No.: |
91-4111-256111 / 256275 |
|
Fax No.: |
91-4111-256280 / 256365 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Corporate Office : |
NP 54, Developed Plots, Thiru Vi Ka Industrial Estate, Guindy, Chennai – 600 032, Tamilnadu |
|
Tel. No.: |
91-44-22329560 / 22340174 / 2233471 / 22343763 / 22343765 / 22343856 |
|
Fax No.: |
91-44-22334924 |
|
|
|
|
Factory 1 : |
Plot No. H-1, SIPCOT Industrial Park, Irrungattukottai, Sriperumpudur Taluk, Kanchipuram District - 602 105, Tamilnadu |
|
|
|
|
Administrative Offices: |
39, T.T.K. Road, Alwarpet, Chennai - 600 018, Tamilnadu |
|
Tel. No.: |
91-44-24990013 / 24990531 / 24990678 / 24991938 |
|
Fax No.: |
91-44-24994355 / 24997164 |
DIRECTORS
|
Name : |
Mr. Avinash Prakash Gandhi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Byung Ouk Lee |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jong Hyok Kim |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jung Dae Lee |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Swan Kwon |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Wan Ki Park |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Yong Whan Ahn |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Heung Soo Lheem |
|
Designation : |
Managing Director and Additional Director |
|
|
|
|
Name : |
Mr. Han Woo Park |
|
Designation : |
Executive Director (Administrative) |
|
|
|
|
Name : |
Mr. Hyun Sup Song |
|
Designation : |
Executive Director (Production) |
|
|
|
|
Name : |
Mr. Jong Yeol Lee |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Wang Sik Min |
|
Designation : |
Additional Director |
|
|
|
|
Name : |
Mr. Tae Hwan Chung |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ho Li Lee |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. B. V. R. Subbu |
|
Designation : |
President |
|
|
|
|
Name : |
Mr. M. P. Suresh Kumar |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. G. Arunmozhi |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mrs. J Lakshmi |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Hyundai Motor Company of South Korea |
|
8125411 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Motor Cars, Parts and Accessories. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
‘SANTRO’ |
|
|
|
|
Export to: |
Europe (United Kingdom, Malta, Serbia and Montenegro), Africa and Middle Ease (Turkey, South Cyprus, Afganisthan, Qatar, Lebanon and Ceuta) and in Latin America (Panama, Bermuda) |
PRODUCTION STATUS
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Motor Car |
|
Vehicles |
124800 |
93888 |
GENERAL
INFORMATION
|
No. of Employees : |
3600 |
|
|
|
|
Bankers : |
· ABN Amro Bank N V, Chennai - 600 034, Tamilnadu · American Express Bank Limited, Mount Road, Chennai-600 002, Tamilnadu · Citi Bank, Mount Road, Chennai - 600 002, Tamilnadu · ICICI Bank, Chennai-600 018, Tamilnadu · IndusInd Bank Limited, Chennai, Tamilnadu · Bank of America, Chennai, Tamilnadu · HDFC Bank Limited, Chennai, Tamilnadu · State Bank of India, Chennai, Tamilnadu · Punjab National Bank, Chennai, Tamilnadu · Cho Hung Bank, South Korea, Chennai, Tamilnadu · The Sumitomo Bank Limited, Chennai, Tamilnadu |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Arthur Andersen and Associates Chartered Accountants |
|
Address : |
8th Floor, West Minister, 108, Radhakrishnan Salai, Chennai - 600 004, Tamilnadu |
|
|
|
|
Parent Company : |
Hyundai Motor Company 140-2, Key Dong, Chongro-Ku, Seoul, South Korea. |
CAPITAL STRUCTURE
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
14000000 |
Equity Shares |
Rs. 1000/- each |
Rs. 14000.000 millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
8125411 |
Equity Shares |
Rs. 1000/- each |
Rs. 8125.411 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8125.400 |
8125.400 |
8125.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17092.200 |
12424.800 |
7173.800 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25217.600 |
20550.200 |
15299.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
18896.700 |
5219.500 |
4180.900 |
|
|
TOTAL BORROWING |
18896.700 |
5219.500 |
4180.900 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44114.300 |
25769.700 |
19480.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
17486.300 |
17361.500 |
16949.100 |
|
|
Capital work-in-progress |
18094.000 |
1672.100 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
195.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12805.900
|
7415.400
|
6341.400 |
|
|
Sundry Debtors |
4310.600
|
2248.800
|
3063.300 |
|
|
Cash & Bank Balances |
2402.900
|
5351.000
|
1463.200 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
13011.300
|
9674.000
|
4624.800 |
|
Total
Current Assets |
32530.700
|
24689.200
|
15492.700 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
15359.500
|
11644.400
|
10410.600 |
|
|
Provisions |
8832.200
|
6308.700
|
2551.100 |
|
Total
Current Liabilities |
24191.700
|
17953.100
|
12961.700 |
|
|
Net Current Assets |
8339.000
|
6736.100
|
2531.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44114.300 |
25769.700 |
19480.100 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
99158.800 |
85401.100 |
73519.000 |
|
|
Other Income |
3568.600 |
4205.900 |
3491.300 |
|
|
Stock Adjustments |
2522.200 |
629.900 |
977.700 |
|
|
Total Income |
105249.600 |
90236.900 |
77988.000 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
7148.500 |
8048.800 |
6111.100 |
|
|
Provision for Taxation |
2481.100 |
2797.800 |
2041.900 |
|
|
Profit/(Loss) After Tax |
4667.400 |
5251.000 |
4069.200 |
|
|
|
|
|
|
|
|
Export Value |
N.A. |
26755.89 |
N.A. |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Materials |
69416.600 |
57059.800 |
49310.900 |
|
|
Excise Duty |
11533.900 |
11234.100 |
10460.000 |
|
|
Power and Fuel Cost |
686.800 |
638.600 |
565.300 |
|
|
Other Manufacturing Expenses |
2369.700 |
2174.300 |
1638.900 |
|
|
Employee Cost |
1886.400 |
1613.600 |
1332.600 |
|
|
Selling and Administration Expenses |
8000.900 |
6286.200 |
5621.200 |
|
|
Miscellaneous Expenses |
476.700 |
197.900 |
315.800 |
|
|
Interest and Financial Charges |
140.600 |
33.500 |
132.100 |
|
|
Depreciation |
3589.500 |
2950.100 |
2500.100 |
|
Total Expenditure |
98101.100 |
82188.100 |
71876.900 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.43
|
5.82 |
5.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.21
|
9.42 |
8.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.29
|
19.14 |
18.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.39 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.71
|
1.13 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.37 |
1.19 |
LOCAL AGENCY
FURTHER INFORMATION
Three models of Santro are:
· L2 - (with A/C)
· GLS1 - (with Bar Window, Central Locking & A/C)
· GLS2 - (with Power Steering, Bar Window, Central Locking & A/C)
The Santro (which is available in three variants – the L2, GLS1 and GLS2) was launched in September, 1998.
The company plans to build a world-class facility, which will offer quality products and services to the discerning consume.
The company also plans to introduce several new models in the Indian market, and the pre-production and road test of its next car is already being conducted. Code-named the LC-I, the company plans to introduce a mid-sized (1400-1800 cc) car in October, 1999. Although similar to the company’s accent which already sells in company’s design centre at Namyong and Korea. The company also plans to launch at a later date a multi-utility vehicle in the Indian market.
The company has targeted a production of 60,000 Santros per year.
AS PER WEBSITE
Profile
Subject is a wholly owned subsidiary of Hyundai Motor Company, South Korea and
is the second largest and the fastest growing car manufacturer in India.
Subject presently markets 20 variants of passenger cars in six segments. The
Santro in the B segment, Getz Prime in the B+ segment, the Accent and Verna in
the C segment, the Elantra in the D segment, the Sonata Embera in the E segment
and the Tucson in the SUV segment.
Hyundai Motor India, continuing its tradition of being the fastest growing
passenger car manufacturer, registered total sales of 299,513 vehicles in
calendar year (CY) 2006, an increase of 18.5 percent over CY 2005. In the
domestic market it clocked a growth of 19.1 percent a compared to 2005, with
186,174 units, while overseas sales grew by 17.4 percent, with exports of
113,339 units.
Subject’s fully integrated state-of-the-art manufacturing plant near Chennai
boasts some of the most advanced production, quality and testing capabilities
in the country. In continuation of its investment in providing the Indian
customer global technology, Subject is setting up its second plant, which will
produce an additional 300,000 units per annum, raising Subject’s total
production capacity to 600,000 units per annum by end of 2007.
Subject is investing to expand capacity in line with its positioning as HMC’s
global export hub for compact cars. Apart from expansion of production
capacity, Subject plans to expand its dealer network, which will be increased
from 183 to 250 this year. And with the company’s greater focus on the quality
of its after-sales service, subject’s service network will be expanded to
around 1,000 in 2007.
The year 2006 has been a significant year for Hyundai Motor India. It achieved
a significant milestone by rolling out the fastest 300,000th export car.
Hyundai exports to over 65 countries globally; even as it plans to continue its
thrust in existing export markets, it is gearing up to step up its foray into
new markets. The year just ended also saw Hyundai Motor India attain other
milestones such as the launch of the Verna and yet another path-breaking record
in its young journey by rolling out the fastest 10,00,000th car.
The Hyundai Verna has bagged some of the most prestigious awards starting with
the title of "Car of the Year 2007" by India's leading automotive
publication – Overdrive, the “Best Mid-size Car of the Year” award by the NDTV
Profit C&B Awards 2007, the “Best Value for Money Car” by the CNBC Autocar
Auto awards and ‘Performance Car of the Year 2007’ from Business Standard
Motoring.
Last Year Sonata Embera won the ‘Executive Car of The Year 2006’ award from
Business Standard Motoring Magazine and NDTV Profit – Car & Bike declared
the Tucson as the ‘SUV of The Year 2006’.
Subject has also been awarded the benchmark ISO 14001 certification for its
sustainable environment management practices.
About HMC
Established in 1967, Hyundai Motor Co. has grown into the
Hyundai-Kia Automotive Group which was ranked as the world’s sixth largest
automaker in 2005 and includes over two dozen auto-related subsidiaries and
affiliates. Employing over 68,000 people worldwide, Hyundai Motor posted
US$58.1 billion in sales in 2005 (on a consolidated basis). Hyundai vehicles
are sold in 193 countries through some 5000 dealerships and showrooms.
PRESS CLIPPINGS
15th February , 2008
Hyundai Motor India Organises Medical Camp
Chennai, February 15, 2008: Hyundai
Motor India Limited (HMIL), India’s largest car exporter and second largest car
manufacturer, as part of its Corporate Social Responsibility activity, today
initiated a series of Medical Camps for the people of Sriperumbudur and
Poornamalli area, near its factory. Starting from 15th February onwards, the
medical camp will be held every Saturday from 9:00am – 1:30pm in different
villages.
The camp was inaugurated by Mr S Ganapathy, Sr. Vice President - HR & GA,
HMIL at Irrungattukotai today. Hyundai Motor has appointed seven doctors
and nurses from Saveetha General Hospital to conduct the camp. As a part of
this medical camp, free check-up facility is available for ENT (Ear, Nose &
Throat), general medicine, pediatrics, gynecology, dermatology and even general
surgery. Free medicines will also be provided to the people who come for
treatment in this medical camp.
Speaking on the occasion H. S. Lheem, MD, HMIL, “We are committed towards
collective excellence and believe in the philosophy that one cannot sustain
without giving back to the civil society. Hyundai is keen to play a part to
help ensure that our people have facilities to make living a joy. This attempt
is just a continuation of a larger initiative that we at Hyundai have
undertaken as part of our Corporate Social Responsibility”
Subject’s corporate social responsibility (CSR) is run under the
aegis of Hyundai Motor India Foundation (HMIF) which undertakes various social
causes ranging from running student volunteers for managing traffic to
improving the environment by planting saplings.
Community improvement programme is high on the agenda and
HMI will be undertaking measures to ensure that such medical camps are held on
a regular basis for the benefit of the people living in that area.
About HMIL
Subject
is a wholly owned subsidiary of Hyundai Motor
Company, South Korea and is the second largest and the fastest growing car
manufacturer in India. HMIL presently markets 34 variants of passenger cars
across segments. The Santro in the B segment, Getz Prime, i10 in the B+
segment, the Accent and Verna in the C segment, the Elantra in the D segment,
the Sonata Embera in the E segment and the Tucson in the SUV segment.
Subject
continuing its tradition of being the fastest growing
passenger car manufacturer, registering total sales of 327,160 vehicles in the
calendar year (CY) 2007, an increase of 9.2 percent over CY 2006. In the
domestic market it clocked a growth of 7.6 percent as compared to 2006 with
200,412 units, while overseas sales grew by 11.8 percent, with exports of
126,748 units. Subject’s fully integrated
state-of-the-art manufacturing plant near Chennai boast the most advanced
production, quality and testing capabilities in the country. In continuation of
its commitment to provide the Indian customer with global technology, HMIL is
setting up its second plant, which will produce an additional 300,000 units per
annum, raising Subject’s total production
capacity to 600,000 units per annum.
Subject
is investing to expand capacity in line with its
positioning as HMC’s global export hub for compact cars. Apart from expansion
of production capacity, HMIL plans to expand its dealer network, which will be
increased from 230 to 300 this year.
The year 2007 has been a significant year for Hyundai Motor India. It achieved
a significant milestone by rolling out the fastest 400,000th export car.
Hyundai exports to over 73 countries globally; even as it plans to continue its
thrust in existing export markets, it is gearing up to step up its foray into
new markets. The year just ended also saw Hyundai Motor India attaining other
milestones with the launch of the i10 and yet another path-breaking record in
its young journey by rolling out the fastest 15,00,000th car.
The Hyundai Verna has bagged some of the most prestigious awards starting with
the title of "Car of the Year 2007" by India's leading automotive
publication – Overdrive, the “Best Mid-size Car of the Year” award by the NDTV
Profit C&B Awards 2007, the “Best Value for Money Car” by the CNBC Autocar
Auto awards and ‘Performance Car of the Year 2007’ from Business Standard
Motoring.
Last Year Sonata Embera won the ‘Executive Car of The Year 2006’ award from
Business Standard Motoring Magazine and NDTV Profit – Car & Bike declared the
Tucson as the ‘SUV of The Year 2006’. HMIL has also been awarded the benchmark
ISO 14001 certification for its sustainable environment management practices.
13th February , 2008
Hyundai Accent GLE to be added to the DGS & D list of
approved cars
New Delhi, February 13, 2008: The Hyundai Accent GLE, part of the stable
of state-of-the-art models from Hyundai Motor India Ltd., the country’s second
largest auto manufacturer and leading exporter, has been selected by the
Government of India for its fleet of official cars. The Directorate General of
Supplies & Disposals (DGS&D) in the Department of Supplies under the
Ministry of Commerce, the central purchase and quality assurance organisation
of the Union Government, has approved the Accent GLE for use by all government
departments across the country.
The DGS & D evaluation and registration processes are held in high esteem
by all government departments and agencies for its severely rigorous vetting
and testing standards.
Commenting on this, Hyundai Motor India, Sr VP. Marketing And Sales, Arvind
Saxena said: “This is a welcome acknowledgment of our products and we are happy
that we will be able to be a part of DGS & D list of approved automobile
companies and cater to the government. This is an important market for us and
the Accent is the right product for this category of users with its compact
size, high fuel efficiency and time tested performance”
The Hyundai Accent GLE is one of the most reliable and proven cars in this
segment with a powerful yet economical 1.5 litre petrol engine. The mid-size
sedan also offers comfortable interiors in line with international class, with
a split-folding rear seat, a powerful air-conditioning system that maintains
the most comfortable climate inside the car through specially designed
omni-directional air-flow control ducts.
With this, Hyundai Motor India, which currently sells around 1000 units of the
Accent GLE a month, expects to increase the user base of the sedan. The Accent
will be supplied to all government agencies at the Union and state levels at a
special rate.
The DGS&D is also currently evaluating the Hyundai Verna and Sonata models
for registration as approved automobiles for acquisition by government bodies.
2nd
February , 2008
Hyundai
Motor India Inaugurates New Plant
Production capacity doubled, stage set for second
successful decade
- Total investment of USD1 billion
- New plant capacity of 0.300 Million units per annum - Doubles
overall capacity to 0.600 Million units per annum
- 2008 target: Production of 0.530 Million units
- New plant to strengthen India as Hyundai`s global manufacturing hub
for small cars
- Dealer network to be strengthened
Chennai, February 2, 2008: Hyundai Motor India Ltd today commissioned
operations at its second manufacturing plant at Sriperumbudur in a glittering
function which included VIPs, industry and political leaders, HMI`s overseas
and domestic business partners, members of the national and international
media. Also present for the inauguration was the Chairman & CEO of Hyundai Motor Company, Mong-Koo
Chung, who had flown in from Korea specially for the inauguration.
Mr H S Lheem-MD HMIL,
Mr B K Suh-The Vice Chairman HMC, Mr Mong-Koo Chung-The Chairman &
CEO, HMC along with the Hon`ble Chief Minister of Tamil Nadu, Dr Kalaignar M
Karunanidhi at the Hyundai`s New Plant Inauguration in Chennai.
In a decade long history in India, marked by several remarkable milestones, this is perhaps Hyundai Motor India`s most significant achievement. With the commissioning of this new plant Hyundai Motor India is capable of producing 600,000 units per year doubling its present capacity of 300,000 units per annum. The new plant is located within the same 525 acre plot in Sriperumbudur adjacent to the first plant.
Inaugurating the plant, the Hon`ble Chief Minister of Tamil Nadu, Dr Kalaignar
M Karunanidhi congratulated Hyundai for its dramatic growth, commenting that
the company`s growth had paralleled the state`s rapid industrial development.
Also present was Dr. R C Panda, Secretary, Union Ministry for Heavy Industries
and Public Enterprises, Government of India, who also commended Hyundai Motor
India for its contribution to the Indian industry and the Indian automobile
industry in particular.
Speaking on the occasion, Hyundai Motor Company Chairman & CEO Mong-Koo
Chung said: “We have recorded huge successes in India in the last 10 years,
since we started operations in this country in 1996. Our new plant will be the
platform for future growth. I`m sure Hyundai Motor India will play its role
perfectly as a global manufacturing hub for all of Hyundai`s small car models.
As we have got from India, so we seek to give not only in boosting the
country`s industry and business, but in terms of being a responsible corporate
citizen of India.”
The new plant will be dedicated largely to the production of Hyundai`s latest
offering - the i10, winner of the most prestigious `Car of the Year` awards
from the leading automotive magazines and TV channels like Business Standard
Motoring, CNBC-TV18 Auto Car, the NDTV Car & Bike and the Overdrive
magazine.
More importantly, the commissioning of the second plant means that Hyundai
Motor India`s status as a global manufacturing hub for all small car models from
Hyundai is established. Not surprisingly, Hyundai Motor India`s export
destinations are expected to increase from 73 to 90 countries by the end of
2008.
Construction of the second plant began in November 2005 and was completed in a
record of 19 months. Hyundai has committed a total investment of US $1 billion
for the next phase. With the commissioning of the new plant, the company has
set a manufacturing target of 0.530 Million units for 2008.
To support the domestic growth, the company has already strengthened its dealer
network from 183 to 230 in 2007; by the end of 2008, it expects to expand this
to a 300-strong network.
Keeping pace with its production and sales growth, Hyundai has also become a
leader in Corporate Social Responsibility (CSR) areas creating awareness of
road safety through the Hyundai Traffic Squad involving its unique student
volunteer scheme, in partnership with the Institute of Road Traffic Education
and the traffic police departments.
In addition, Hyundai Motor India in an active partnership with the ITI in
Guwahati has helped improve the infrastructure and training facility at the
institute. The CSR activities also involve the area in and around the Chennai
factory in Sriperumbudur where HMI has taken upon itself to improve the basic
facilities in the primary schools in the area. From donating chairs and tables
to paving the school area HMI is committed to improving the learning conditions
in these schools. Hyundai Motor India Foundation is the social arm of HMI
through which it donated more than Rs.83 million in 2007 to support various
social development initiatives.
1st February , 2008
Hyundai posts highest
ever sales with 37,701 units
-Domestic sales up
by 39.1%, overall growth by 41.4%-
New Delhi, February 1, 2008: Hyundai
Motor India Ltd (HMIL), the country’s second largest car manufacturer and the
largest passenger car exporter, today announced a record sales growth for the
month of January 2008.
The company registered a robust growth in the month of January 2008, its
highest ever monthly sales since inception, as it recorded an overall growth of
41.4 % in January 2008 over the same month last year. The domestic sales grew
by 39.1 % while the exports grew by 45.6 % over January 2007. Also since the
launch of i10 in the month of October last year, the sale of the vehicle has
crossed 25,000 units.
The total sales stood at 37,701 units. While the domestic market accounted for
24,301 units, exports totaled 13,400 units in January 2008. The cumulative
sales for January 2007 had been 26,661 units.
Commenting on the record sales, H S Lheem, Managing Director, HMIL said, “We
are absolutely delighted by these figures and we believe it shows the strength
of the brand Hyundai. I am particularly grateful to all of our employees,
dealers & suppliers whose level of commitment to outstanding customer
service has been instrumental in our growth.”
"The all-new i10 is off to an amazing start. It has emerged as a clear
winner by winning the hearts of the consumers and the industry alike, it has
also won all the prestigious ‘Car of the year’ awards by Business Standard
Motoring, CNBC TV18 Autocar, NDTV Car and Bike India and Overdrive
magazine," said Mr. Lheem.
"We are also doubling the production capacity to 600,000 units per annum
by inaugurating the second plant tomorrow in Chennai which will have a capacity
of 300,000 units per annum , to cater to the increased market demand for
Hyundai brand of vehicles in India and overseas.” he added.
The segment-wise cumulative sales in the month of January 2008 are as follows:
A1 Segment — 33,434 units; A2 Segment – 4236 units; A3 Segment —1unit; A4
Segment — 25 units; and SUV Segment — 5 units.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.98 |
|
UK Pound |
1 |
Rs. 78.57 |
|
Euro |
1 |
Rs. 59.20 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|