MIRA
INFORM REPORT
|
Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CAMA MOTORS PRIVATE LIMITED |
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Registered Office : |
Rustom Cama Marg, Lal Darwaja, Ahmedabad – 380001, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.10.1945 |
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Com. Reg. No.: |
04-209 |
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CIN No.: [Company
Identification No.] |
U50109GJ1945PTC000209 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMC00216G |
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PAN No.: [Permanent
Account No.] |
AAACC8734G |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Dealer of Automobiles (Four Wheelers) |
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 250000 |
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Status : |
Good |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed dealers of four wheelers
having been connected with some of the well – reputed brands worldwide. Trade
relations are fair. Business is active. No payment records could be made
available due to the nature of its activities. The company can be considered good for normal business dealings. Mr. H S Ujajani, General Manager (Finance) declined to part with any
information. |
INFORMATION
DECLINED BY
|
Name : |
Mr. H S Ujajani |
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Designation : |
General Manager (Finance) |
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Date : |
23.06.2008 |
LOCATIONS
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Registered Office / Factory: |
Rustom Cama Marg, Lal Darwaja, Ahmedabad – 380001, Gujarat, India |
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Tel. No.: |
91-79-25505282 to 89 / 25502792 |
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Fax No.: |
91-79-25500491 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Mehroo Jehangir Cama |
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Designation : |
Director |
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Address : |
Cama Court, Khanpur, Ahmedabad – 380001, Gujarat |
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Date of Birth/Age : |
12.03.1941 |
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Date of Appointment : |
17.04.1966 |
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Name : |
Mr. Rustom Jehangir Cama |
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Designation : |
Director |
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Address : |
Cama Court, Khanpur, Ahmedabad – 380001, Gujarat |
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Date of Birth/Age : |
29.02.1972 |
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Date of Appointment : |
31.03.1990 |
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Name : |
Mr. Jehangir Cama |
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Designation : |
Director cum Chairman |
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Address : |
Cama Court, Khanpur, Ahmedabad – 380001, Gujarat |
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Date of Birth/Age : |
02.11.1937 |
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Date of Appointment : |
05.09.1959 |
KEY EXECUTIVES
|
Name : |
Mr. J M Shah |
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Designation : |
Company Secretary |
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Address : |
18 Gyandeep Society, Paldi Ahmedabad – 380 007, Gujarat |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2005
|
Names of Shareholders |
|
No. of Shares |
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Mr. Suleman Musabhaai and Mailwas |
|
125 |
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Mrs. Nargish B Christo |
|
215 |
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Mr. Jehangir Rustom Cama |
|
1745 |
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Mrs. Mehroo Jehangir Cama |
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1815 |
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Ms. Meera Kunjbihari Mashruwala |
|
250 |
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Mr. Kishore Bhimarao Setalwad |
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100 |
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Mr. Rustom Jehangir Cama |
|
2510 |
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Ms. Ayesha Jehangir Cama |
|
315 |
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Mr. Nariman J Cama |
|
140 |
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Mr. Pankaj Hiralal Desai |
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250 |
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Mrs. Perin Nariman Cama |
|
500 |
AS ON 31.03.2007
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.20 |
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Bodies corporate |
|
2.00 |
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Directors or relatives of directors |
|
70.00 |
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Other top fifty shareholders |
|
27.80 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Automobiles (Four Wheelers) |
GENERAL
INFORMATION
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Bankers : |
State Bank of
India, Lal Darwaja Branch, Ahmedabad – 380001, Gujarat |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
Naushar M Marfatia & Company Chartered Accountant |
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Address : |
B, Jadav Chambers, First Floor, Ashram Road, Ahmedabad – 380009,
Gujarat |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 100/- Each |
Rs. 1.000 Million |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
1.000 |
1.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
49.207 |
46.550 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
50.207 |
47.550 |
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LOAN FUNDS |
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|
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1] Secured Loans |
|
0.529 |
26.805 |
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2] Unsecured Loans |
|
22.933 |
27.058 |
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TOTAL BORROWING |
|
23.462 |
53.863 |
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DEFERRED TAX LIABILITIES |
|
1.581 |
2.019 |
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TOTAL |
|
75.250 |
103.432 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
65.037 |
64.099 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.507 |
0.507 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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19.102
|
51.697 |
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Sundry Debtors |
|
3.067
|
15.691 |
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Cash & Bank Balances |
|
23.053
|
6.529 |
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Other Current Assets |
|
0.000
|
0.000 |
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Loans & Advances |
|
11.060
|
20.882 |
|
Total
Current Assets |
|
56.282
|
94.799 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
|
40.584
|
51.191 |
|
|
Provisions |
|
5.992
|
4.782 |
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Total
Current Liabilities |
|
46.576
|
55.973 |
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Net Current Assets |
|
9.706
|
38.826 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
75.250 |
103.432 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
619.031 |
618.126 |
433.179 |
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Other Income |
0.000 |
65.757 |
52.931 |
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Total Income |
619.031 |
683.883 |
486.110 |
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Profit/(Loss) Before Tax |
4.638 |
2.678 |
5.319 |
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Provision for Taxation |
1.796 |
0.000 |
0.00 |
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Profit/(Loss) After Tax |
2.842 |
2.678 |
5.319 |
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Expenditures : |
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Purchases made for re-sale |
NA |
581.876 |
420.161 |
|
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Consumption of stores and spares parts |
NA |
42.754 |
32.762 |
|
|
Increase/(Decrease) in Finished Goods |
NA |
10.300 |
(9.992) |
|
|
Salaries, Wages, Bonus, etc. |
NA |
14.670 |
11.152 |
|
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Managerial Remuneration |
NA |
2.896 |
3.360 |
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Interest |
NA |
8.160 |
5.836 |
|
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Depreciation & Amortization |
1.449 |
2.065 |
1.468 |
|
|
Financial Charges |
6.506 |
NA |
NA |
|
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Other Expenditure |
606.438 |
18.484 |
16.044 |
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Total Expenditure |
614.393 |
681.205 |
480.791 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.46
|
0.39 |
1.09 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.75
|
0.43 |
1.22 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.81
|
1.68 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.05 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.39
|
2.30 |
NA |
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|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.69 |
NA |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
CAMA MOTORS PRIVATE LIMITED |
|
Presented By |
Mr. Jehangir R J Cama |
|
1) Date and description of instrument creating the change |
Memorandum of
Equitable mortgage by deposit of title deed dated 19.10.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 105.000
Millions FBWC – Rs. 45.000
Millions Bank Guarantee –
Rs. 30.000 Millions Term Loan – Rs.
30.000 Millions Total – Rs.
105.000 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All that
undivided proportionate share I the piece or parcel of land bearing sub Plot
No. I of final Plot No. 322 of TPS No. 3, District of Ahmedabad with
superstructure being Shop No. G – 28, on the ground floor and shop No. B- 16, in basement adm 120 Sq. ft in complex,
known SAMUDRA standing and situated within SHRI NIDHI OFFICER OWNERS
ASSOCIARION opp shantanu Building, Ahmedabad All that piece or
parcel of leasehold land bearing Plot No. 401 + 418 together with
superstructure GIDC Gandhinagar, taluka and sub district of gandhidham
admeasuring 2000 Sq. mts All that piece of
parcel of non agriculture land together with superstructure standing thereon
bearing Plot No. 906 admeasuring 1247 Sq. mtrs. Of sector 21, of Gandhinagar
township of taluka Gandhinagar |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest 1.5% |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India Lal Darwaja
Branch, Ahmedabad – 380001, Gujarat |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
AS PER WEBSITE DETAILS
History
The company was started in the year 1927. Thus began the Saga of a
career devoted to the automobile trade, which grew into the present multi crore
automobile trading Company, Cama Motors.
Through his relentless drive and endless hours of hard work Khan Bahadur
Rustom Cama saw to it that Rustom Cama attained the Dealership of Ford Motor
Company of India Limited. In the year 1931 under the banner of Ideal Motors
Limited. Situated in the prime location at Lal Darwaja in Ahmedabad, where
today stands the mighty Central Bank Head Office, Ideal Motors soon become the
No.1 automobile trading house in Ahmedabad, and a focal point of meeting for
the automobile trade. This continued till 1945 when Cama Motors was shifted to
the new premises across the road from Ideal Motors, where Cama Transport, which
owned and managed a fleet of over 24 trucks, was established.
In 1953, a new feather was added to the Company’s achievement when Cama
Motors obtained the dealership for Mahindra range of vehicles.
In the year 1954, Ford Motors Company, decided to close down their
operations in India. A glorious chapter in the history of automobile
manufacture and marketing came to an end. In 1955, Hindustan Motors Limited.
offered a franchisee to Cama Motors.
At that time late Mr. B.M Birla managed the affairs of Hindustan Motors
Limited., and Rustomji was asked to go and see him at Calcutta. Late Seth Shri.
Kasturbhai Lalbhai who was also a Director and a personal friend of Mr. B.M.
Birla gave a personal recommendation to Rustomji to carry with him to Calcutta,
in which he lauded Rustomji’s ability and integrity as a businessman.
In 1949, subject had moved to its present location in a brand new
showroom and office attached with a huge workshop which was at that time the
largest such facility in the city of Ahmedabad. Rustomji’s very dear friends
Late Mr. Hiralal Desai and Late Mr. Kasturbhai Mayabhai and other colleagues
were daily visitors to the “Otla Club”. Every luminary and important
personality of Ahmedabad visited the “Otla Club” at some time or other. It was
the centre of most of the activities in Ahmedabad whether social, governmental,
or dealing with Municipal Corporation, or even connected with politics. It
brings back the memory of Ahmedabad City as it was then to think of the names
who were regular visitors to Cama Motors. To name a few, Mr. Arjun Lala, Mr.
Ratilal Nathalal, Mr. M.D.Rajpal, Mr. K.M.Kanthawala, Mr. B.P.Patel, Mr.
Chiimanbhai Patel - Sandesh, Mr. Shantilal A Shah-Gujarat Samachar, and of
course the 2 closest to Rustomji, Mr. Hiralal Desai and Mr. Kasturbhai
Mayabhai.
Today the desk which adorns the Chairman’s office was the desk used by
the Managing Director of Ford Motors Company Limited. Of India, and was gifted
to Rustomji, along with a photograph of the legendry Mr. Hendry Ford, which
still hangs in the office of the Chairman.
The Cama family has been established in Ahmedabad from the year 1892,
when Rustomji’s father Shri Jehangir Dadabhai Cama moved here and set up a
trading establishment at Panchkuwa. He traveled to England twice before he died
in 1916, and had obtained the sole distributorship of Singer Sewing Machines, and
Raleigh, and Rudge bicycles for Western India.
With such a strong tradition of business and trading, it is no wonder
that Cama Motors continued to prosper, and gained for itself a reputation for
service, total integrity, and efficient marketing.
Today, with a total overall strength of approximately 200 persons and 50
years of history behind, it is the oldest such automobile trading company
established in Gujarat.
Cama Motors today is connected with the most prestigious automobile
companies in India, viz. Daimler India Private Limited. – manufacturers of
Mercedes-Benz range of passenger vehicles.
It has expanded their Showroom, Workshop, and Spare Parts facility
located at Lal Darwaja in Ahmedabad for looking after the needs of their
distinguished cliental. Today, Cama Motors is in the process of planning and
constructing a completely modern 21st. century Showroom, Workshop, and Spare
Parts facility on the outskirts of Ahmedabad city, spread over approximately
7000 yds. of land.
Team
It all started in the year 1927, when a bright young and enthusiastic
young man joined Motor House (Gujarat) as Sales Man for selling Ford motor
cars. The munificent salary offered to this young man Rustom Jehangir Cama Was
a sum of Rs. 75/- per month and the pay package also include 2% commission on
the amount of spare parts he could sell.
Board of Directors
Mr. Jehangir R. J. Cama – Chairman
66 Years old Mr. Jehangir R J. Cama has been instrumental in
establishing the brand name Cama in the Automobile and Service industries.
Served as the President of Gujarat Chamber of Commerce and Industries.
Associated with several non profit organisations like FICCI, FH and RA (India).
Divison Heads
Mrs. Mehroo Cama – Managing Director
Steering Cama Group through the ladder of success through innovative
leadership, she is the daughter of Late
Mr. F. P. Wadia who owned automobile business in Saurashtra.
Mr. Rustom Cama – Executive Director
The third generation business leader, Mr. Rustom Cama has truly redefined
the organisation with his management skills.
He looks after the operations and provides strategic leadership to the
whole organisation by combining the old values with modern business tactics.
Products
Today their product range comprises of the prestigious Mercedes-Benz
Range of Passenger Vehicles, through the franchisee of DaimlerChrysler India
Private Limited., Pune (A Group Company of DaimlerChrysler AG, Germany), who
manufactures/assembles the following models in India:
v
Mercedes-Benz CKD/SKD models (manufactured in India)
v
C-Class Saloon - Petrol and Diesel vehicles
v
E-Class Saloon - Petrol
and Diesel vehicles
v
S-Class Salon - Petrol and Diesel vehicles
v
CL-Class Two Door Coupe
v
S-Class Saloon
v
SL-Class Two Door Hard-top Convertible Sports Car / SLK / M / Viano
v
SLK-Class Two Door Hard-top Convertible Sports Car
v
M-Class SUV
v
Viano Van
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 43.17 |
|
UK Pound |
1 |
Rs. 86.46 |
|
Euro |
1 |
Rs. 68.68 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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. |
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 |
|