MIRA
INFORM REPORT
|
Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SKODA AUTO INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
A-1/1, Five Stat Industrial Area, MIDC, Shendra Aurngabad-431201,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
23.12.1999 |
|
|
|
|
Com. Reg. No.: |
11-123254 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U34100MH1999PTC123254 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS27367E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Automobiles |
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 16194405 |
|
|
|
|
Status : |
Very Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Volkswagen group, a well established and reputed group
worldwide. General financial position is good. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered good for any normal business dealings. |
LOCATIONS
|
Registered Office : |
A-1/1, Five Star Industrial Area, MIDC, Shendra Aurngabad-431201, Maharashtra |
|
Tel. No.: |
91-240-5631111 |
|
Fax No.: |
91-240-5631199 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
E-76, MIDC Waluj, Aurangabad - 431 136 |
|
Tel. No.: |
Tel: 0240-552943 |
DIRECTORS
|
Name : |
Mr. Imran N. Hossen |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
27/09/1953 |
|
Date of Appointment : |
23/12/1999 |
|
|
|
|
Name : |
Mr. Karl Funter Buschiing |
|
Designation : |
Chairman |
|
Address : |
Germany |
|
Date of Birth/Age : |
23/10/1941 |
|
Date of Appointment : |
23/12/1999 |
|
|
|
|
Name : |
Mr. Leissner Helmut Bernd |
|
Designation : |
Director |
|
Date of Birth/Age : |
26/09/1941 |
|
Date of Appointment : |
23/12/1999 |
|
|
|
|
Name : |
Mr. Libor Myska |
|
Address: |
Pod Kacovem – 15129501, Mnichovo, hradiste – 25901, Czech Republic |
|
Designation : |
Director |
|
Date of Birth/Age : |
13/03/1969 |
|
Date of Appointment : |
09/02/1969 |
|
|
|
|
Name : |
Mr. Mohan S. Kettar |
|
Designation : |
Company secretary |
|
Address : |
Aurangabad |
|
Date of Birth/Age : |
17/08/1978 |
|
Date of Appointment : |
15/09/2004 |
|
|
|
|
Name : |
Mr. Lukas Folc |
|
Designation : |
Director |
|
Address : |
Habrova STR – 410, Trutnov, Czech Republic – 54101 |
|
Date of Birth/Age : |
02.06.1976 |
|
Date of Appointment : |
20.12.2005 |
|
|
|
|
Name : |
Mr. Fred Kappler |
|
Designation : |
Director |
|
Address : |
Siebenwende – 5, Meine – 38527, Germany |
|
Date of Birth/Age : |
03.05.1956 |
|
Date of Appointment : |
10.02.2005 |
|
|
|
|
Name : |
Mr. Horst Muehl |
|
Designation : |
Director |
|
Address : |
Lilieenweg – 18, DE – 385, Meinersen |
|
Date of Appointment : |
10.02.2005 |
|
|
|
|
Name : |
Mr. Matthias Klaus Bursig |
|
Designation : |
Director |
|
Address : |
Falling Bostelersia, 26 – 30625, Hannover, Germany |
|
Date of Birth/Age : |
12.071960 |
|
Date of Appointment : |
15.06.2001 |
|
|
|
|
Name : |
Mr. Trivikran Guda |
|
Designation : |
Director |
|
Address : |
301, E Wing, Kailash, Arcade, Aurangabad – 431003, Maharashtra |
|
Date of Birth/Age : |
18.05.1981 |
|
Date of Appointment : |
04.04.2005 |
|
|
|
|
Name : |
Mr. Sanjeev Kumar |
|
Designation : |
Director |
|
Address : |
301, E Wing, Kailash, Arcade, Aurangabad – 431003, Maharashtra |
|
Date of Birth/Age : |
02.10.1970 |
|
Date of Appointment : |
03.06.2005 |
|
|
|
|
Name : |
Mr. Nasir Hassen |
|
Designation : |
Director |
|
Address : |
Lomnicka 560, prabha 9, Jahodnice – 38527, Czech Republic |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 28.02.2008)
|
Names of Shareholders |
|
No. of Shares |
|
Skoda Auto A. S. |
|
66637165 |
|
(Czech Rep) |
|
|
|
Skoda Immo SRO |
|
1 |
|
(Czech Rep) |
|
|
Equity Share Break Up (As on 28.02.2008)
|
Particulars |
|
Percentage |
|
Foreign holding (Foreign institutional investor(s), Foreign companies(s),
Foreign financial institution(s), Non-resident Indian(s)or overseas Corporate
bodies or other |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automobiles |
|
|
|
|
Products : |
Motor Car |
PRODUCTION STATUS
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Motor Car |
|
Nos. |
15000 |
5539 |
|
|
|
|
|
|
GENERAL
INFORMATION
|
No. of Employees : |
2500 |
|
|
|
|
Bankers: |
NA |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse (Chartered Accountant) |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
|
|
|
|
Holding Company : |
Skoda Auto A. S. Czech Rep. |
|
|
|
|
Ultimate Holding Company: |
Volkswagen A. G. |
|
|
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 millions |
|
60000000 |
Preference Shares |
Rs.10/- each |
Rs.600.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.2500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
179037166 |
Equity Shares |
Rs.10/- each |
Rs.1790.371
millions |
|
56200000 |
Preference Shares |
Rs.10/- each |
Rs.562.000
millions |
|
|
|
|
|
|
|
Total |
|
Rs.2352.371
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2007 |
31.12.2006 |
31.12.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2352.371 |
666.372 |
666.372 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
886.510 |
302.148 |
134.203 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3238.881 |
968.520 |
800.575 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2439.822 |
1757.689 |
1132.562 |
|
|
TOTAL BORROWING |
2439.822 |
1757.689 |
1132.562 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5678.703 |
2726.209 |
1933.137 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1604.704 |
776.528 |
762.463 |
|
|
Capital work-in-progress |
635.629 |
638.555 |
661.160 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.005 |
0.005 |
|
|
DEFERREX TAX ASSETS |
168.429 |
250.390 |
275.970 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2974.546
|
2153.291 |
1786.495 |
|
|
Sundry Debtors |
550.623
|
185.721 |
164.147 |
|
|
Cash & Bank Balances |
2982.791
|
795.714 |
247.227 |
|
|
Other Current Assets |
4.038
|
0.363 |
0.000 |
|
|
Loans & Advances |
2242.677
|
632.941 |
231.071 |
|
Total
Current Assets |
8754.675
|
3768.030 |
2428.940 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3442.978
|
1907.676 |
2000.020 |
|
|
Provisions |
2041.756
|
799.623 |
195.376 |
|
Total
Current Liabilities |
5484.734
|
2707.299 |
2195.396 |
|
|
Net Current Assets |
3269.941
|
1060.731 |
233.539 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5678.703 |
2726.209 |
1933.137 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover(including Other Income) |
|
11766.973 |
7794.013 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
537.527 |
522.357 |
|
Provision for Taxation |
|
|
|
|
Profit/(Loss) After Tax |
|
537.527 |
522.357 |
|
|
|
|
|
|
Total Expenditure |
|
11229.446 |
7271.656 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2007 |
31.12.2006 |
31.12.2005 |
|
PAT / Total Income |
(%) |
0.00
|
4.57 |
6.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
4.57 |
6.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
9.89 |
12.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.55 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.447
|
2.79 |
2.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.596
|
1.39 |
1.10 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets:
Leasehold Land, Plant and Machinery, Factory Building, Office Building,
Computers, Vehicles, Furniture, and Fixtures.
The Company has begin its Operation in the year 2001 with the
introduction of Skoda Octavia Moder Available both in Petrol and Diesel Version.
The car has done very well in its segment because of its value for money and
quality standards your company has stick to the company recently launched its
new model Skoda superb Skoda L and K, Skoda Rider and Skoda R.S and it has
received an encouraging response. The company has been able to have a network
of 36 dealers and in the times to come the thrust of business would be to
enhance the dealer net worth and bring new product to the customers.
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.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 |
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. |
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 |
|