MIRA INFORM
REPORT
|
Report
Date : |
27.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
FORD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S P Koil Post, Kancheepuram
District Chengalpattu – 603204, Tamilnadu |
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Country
: |
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|
Financials
(as on) : |
31.03.2007 |
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|
Date
of Incorporation : |
09.08.2000 |
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|
|
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Com.
Reg. No.: |
18-45537 |
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|
CIN
No.: [Company
Identification No.] |
U34103TN2000PTC045537 |
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|
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|
TAN
No.: [Tax Deduction
& Collection Account No.] |
CHEM02210F |
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|
|
|
Legal
Form : |
Private Limited Liability Company. |
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|
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|
Line
of Business : |
Manufacturing and Marketing of Passenger Cars (Ford Ikon) |
RATING
& COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD
16000000 |
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|
|
|
Status
: |
Satisfactory
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a subsidiary of Ford Motor Company, USA. Indian
Operations are passing through difficult times. It continues to incur losses.
Payments are however report as correct and as per commitments. As it is backed by a well known MNC, it can be considered
normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office/ Factory/ Corporate Office : |
S P Koil Post, Kancheepuram
District Chengalpattu – 603204, Tamilnadu, India |
|
Tel.
No.: |
91-4114-254375, 91-44-27459754/
27454375 |
|
Fax
No.: |
91-4114-254278, 91-44-27453850/
27455177 |
|
Email
: |
|
|
Website
: |
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|
Area : |
350 Acres |
|
Location : |
Outskirts |
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|
Workshop : |
72/1 East Coast Road, Thiruvanmiyur,
Chennai 600041, Tamil Nadu, India |
|
Tel.
No.: |
91-44-25022139/ 24759342 |
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|
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Showroom : |
800 Ponnamallee High Road,
Kilapuk, Chennai 600010, Tamil Nadu, India |
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Tel.
No.: |
91-44-25323202/ 26429585 |
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Fax
No.: |
91-44-26429736 |
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Branch
Office : |
TNPL Building, 35 Anna Salai,
Guindy, Chennai 600032, Tamil Nadu, India |
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Tel.
No.: |
91-44-22463398/ 22483921/ 25022139 |
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|
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Regional
Office : |
North Tower A, Ground Floor, Unitech Cyber
Park, Greenwood City, Sector 39, Gurgaon – 122001, Haryana, India Tel. : 91-124-6743000 Fax: 91-124-6743075 West 301, Central Plaza, CST Road,
Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India Tel. : 91-22-67024300 Fax: 91-22-67024305 South Block – 1B, 1st Floor,
RMZ Millenia Business Park, 143, Dr. MGR Road, North Veeranam Salai,
Perungudi, Chennai – 600096, Tamilnadu, India Tel. : 91-44-24551500 Fax : 91-44-24559965 East 55/55/1, Chowringhee Road,
Chowringhee Court, Unit 33, 2nd Floor, Opp. Nehru Children Museum,
Kolkata – 500071, West Bengal, India Tel. : 91-33-40073930-34 |
DIRECTORS
|
Name : |
Mr. Mark Austin Schulz |
|
Designation
: |
Chairman |
|
Address
: |
One American Road, Dearborn MI 48126 |
|
Date of
Birth/Age : |
29.05.1952 |
|
Date
of Appointment : |
14.08.2002 |
|
Date
of Ceasing : |
11.06.2005 |
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|
|
|
Name : |
Mr. David Eliot Friedman |
|
Designation
: |
Managing Director |
|
Address
: |
Ramanlyam Towers, Flat 7D, Greenways Road, Chennai-600028 |
|
Date
of Birth/Age : |
13.03.1962 |
|
Date
of Appointment : |
05.01.1999 |
|
Date
of Ceasing : |
31.08.2005 |
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|
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|
Name : |
Mr. Anand G. Mahindra |
|
Designation
: |
Director |
|
Address
: |
Gulistan, first Floor, 65, Napean Sea Road, Mumbai-400006 |
|
Date
of Birth/Age : |
01.05.1955 |
|
Date
of Appointment : |
12.03.1996 |
|
Date
of Ceasing : |
28.03.2005 |
|
|
|
|
Name: |
Mr. David Kinden Schoch |
|
Designation: |
Director |
|
Date
of Birth/Age : |
27.04.1951 |
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|
|
|
Name: |
Mr. Bharat Doshi |
|
Designation: |
Director |
|
Address
: |
8, St. Helen’s Court, Dr. Gopal Rao Deshmukh Marg,
Mumbai-400026 |
|
Date
of Birth/Age : |
12.06.1949 |
|
Date
of Appointment : |
12.03.1996 |
|
Date
of Ceasing : |
28.03.2005 |
|
|
|
|
Name: |
Mr. John Vincent Felice |
|
Designation: |
Director |
|
Address
: |
20901, Oakwood Boufevard, Dearborn MI 48126, USA |
|
Date
of Birth/Age : |
14.11.1961 |
|
Date
of Appointment : |
14.08.2002 |
|
Date
of Ceasing : |
11.06.2005 |
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|
|
|
Name: |
Mr. Sam Main Padam |
|
Designation: |
Director |
|
Address
: |
2D, Renga Manor, VII Cross Street, Shastri Nagar,
Chennai-600020, Tamilnadu |
|
Date
of Birth/Age : |
20.06.1962 |
|
Date
of Appointment : |
16.10.1996 |
|
Date
of Ceasing : |
11.03.2005 |
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|
|
|
Name: |
Mr. George Henry Graham |
|
Designation: |
Whole Time Director |
|
Address
: |
D1, 37 Bishop Garden, R A Puram, Chennai-600028 |
|
Date
of Birth/Age : |
31.07.1951 |
|
Date
of Appointment : |
01.03.2002 |
|
Date
of Ceasing : |
06.05.2005 |
|
|
|
|
Name : |
Ms. Kathryn Lucy Millar (UK Citizen) |
|
Designation
: |
Director |
|
Address
: |
Flat
No.6, Mayflower Apartments, No.9, Sathyanarayana Avenue, RA Puram, Chennai
600 028, Tamil Nadu |
|
Date
of Birth/Age : |
04.07.1967 |
|
Date
of Appointment : |
16.07.2007 |
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Email
: |
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|
|
|
Name : |
Mr. Peter J Daniel (Australian Citizen) |
|
Designation
: |
Chairman |
|
Address
: |
32/96
Sukumvit 67 Road, North Prakanong, Bangkok 10110 |
|
Date
of Birth/Age : |
09.02.1947 |
|
Date
of Appointment : |
11.06.2005 |
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|
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|
Name : |
Mr. Philip G Thighe (Australian Citizen) |
|
Designation
: |
Director |
|
Address
: |
32/7
Sukumvit 67 Road, North Prakanong, Bangkok 10110 |
|
Date
of Birth/Age : |
21.03.1953 |
|
Date of
Appointment : |
11.06.2005 |
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|
|
|
Name : |
Mr. Dave N Alden (US Citizen) |
|
Designation
: |
Director |
|
Address
: |
39/628
Nichada Thani, Samakee Road, Pakkreed, Nonthaburi, 11120, Thailand |
|
Date
of Birth/Age : |
02.05.1954 |
|
Date
of Appointment : |
11.06.2005 |
|
Email
: |
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|
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|
Name : |
Mr. Arvind Mathew (American) |
|
Designation
: |
Managing
Director |
|
Address
: |
23,
Prithvi Avenue, Alwarpet, Chennai 600018 |
|
Date
of Birth/Age : |
06.01.1960 |
|
Date
of Appointment : |
01.08.2005 |
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Email
: |
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|
|
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|
Name : |
Mr. Phil
Horlock |
|
Designation
: |
Director |
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Address
: |
Obne
American Road, Dearborn MI 48126, UK |
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Date of
Birth/Age : |
31.07.1951 |
|
Date
of Appointment : |
01.03.2002 |
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Date
of Ceasing : |
11.06.2005 |
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|
|
|
Name : |
Mr. John
G. Parker |
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Designation
: |
Chairman |
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Date
of Birth/Age : |
31.08.1947 |
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Date
of Appointment : |
27.02.2007 |
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|
|
|
Name : |
Mr.
Gopalan Parthasarathy |
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Designation
: |
Whole
Time Director |
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Address
: |
5F, Block
1 Abbutsbury Apartment, 42 C P Ramasamy Road Alwarpet, Chennai – 600018,
Tamilnadu, India |
|
Date
of Birth/Age : |
15.09.1968 |
|
Date
of Appointment : |
16.07.2007 |
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|
|
|
Name : |
Mr.
Ravindra K Kulkarni |
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Designation
: |
Director |
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|
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|
Name : |
Mr.
Ardeshir R Wadia |
|
Designation
: |
Director |
KEY
EXECUTIVES
|
Name : |
Mr. S Ramesh (Indian) |
|
Designation
: |
Company
Secretary |
|
Address
: |
No.10
Panchayat Colony, Radha Nagar, Chrompet, Chennai 600 044 |
|
Date
of Birth/Age : |
11.10.1975 |
|
Date
of Appointment : |
10.06.2005 |
MAJOR
SHAREHOLDERS
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Ford
Motor Company |
92277064 |
|
Ford
International Services Inc., USa |
17422936 |
|
|
|
|
Total |
109700000 |
(As on 31.03.2006)
|
Category |
Percentage |
|
|
|
|
Foreign
Holding (FIIs, FCs, FFIs, NRIs, OCBs, Or Others) |
100.00 |
BUSINESS
DETAILS
|
Line
of Business : |
Manufacturing and Marketing of Passenger Cars (Ford Ikon) |
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Products
: |
·
Endeavour ·
Ikon ·
Mondeo ·
Fusion ·
Fiesta ·
Ford |
||||
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|
||||
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Export: |
|
||||
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Products: |
Cars |
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Countries : |
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PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Passenger
Cars |
Nos |
N.A. |
100000 |
28805 |
|
Spares
for Resale (Sales) |
Millions |
- |
- |
1221204 |
GENERAL
INFORMATION
|
No. of
Employees : |
22000 |
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Bankers
: |
·
HDFC Bank Limited
·
Indian Overseas Bank, MM Nagar Branch, 34 Nandanar Street NH 2, MM
Nagar 603 209
|
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Facilities : |
Secured Loans : (As on 31.03.2005) (Rs. In millions)
Unsecured Loans :
|
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Banking Relations : |
Satisfactory |
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Auditors
: |
Lovelock and Lewes Chartered Accountants, Chennai. |
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|
Address |
32, Khader Nawaz Khan Road,
Nungambakkam, Chennai – 600034, Chennai, Tamilnadu, India |
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Holding
Company : |
Ford
Motor Company |
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|
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Associates/Subsidiaries
: |
Common Control ·
Ford Business Services Center Private
Limited ·
Ford Motor Company Brazil Limited ·
Ford Motor Company Limited, Britain ·
Ford Espana ·
Ford Werke AG ·
Ford Trading Company LLC ·
Ford Motor Company of Australia Limited ·
Ford Global Technoloties Inc. ·
Ford Motor Company, Mexico ·
Ford Motor Company, China ·
Ford Motor Company, Phillipines ·
Ford Motor Company of Southern Africa
Manufacturing Pty Limited ·
Changan Ford Automobile Corporation Limited ·
Ford Vietnam Limited ·
Ford Argentina S.C.A ·
Ford Operations (Thailand) Company Limited ·
Ford Sales and Service (Thailand) Company
Limited ·
Thirdware Solutions Limited ·
Ford of Korea ·
Ford of Sweden ·
Ford Motor Company, Indonesia ·
DCS Holding Company ·
Getrag Ford Transmissions Gmbh ·
Ford Technology Services India ·
Mazda Motor Corporation ·
Ford of Spain |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.100/-
each |
Rs.12500.000
millions |
|
50000000 |
Preference Shares |
Rs.100/-
each |
Rs.5000.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.17500.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109700000 |
Equity Shares |
Rs.100/-
each |
Rs.10970.000
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 |
10970.000 |
9860.810 |
8500.000 |
|
|
2] Share
Application Money |
0.000 |
1109.190 |
0.000 |
|
|
3]
Reserves & Surplus |
10.000 |
0.000 |
0.000 |
|
|
4]
(Accumulated Losses) |
(7688.037) |
(7884.129) |
[6408.476] |
|
NETWORTH
|
3291.963 |
3085.871 |
2091.524 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
3924.136 |
4084.578 |
5416.257 |
|
|
2]
Unsecured Loans |
2845.538 |
1862.421 |
2380.868 |
|
TOTAL
BORROWING
|
6769.674 |
5946.999 |
7797.125 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
10061.637 |
9032.870 |
9888.649 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
9035.876 |
10103.621 |
7462.547 |
|
Capital work-in-progress
|
485.526 |
59.755 |
2119.348 |
|
|
|
|
|
|
|
Unique Tooling Secured Advances
|
0.000 |
0.000 |
897.856 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
1925.290
|
2300.437
|
2475.393
|
|
|
Sundry Debtors
|
2011.969
|
475.068
|
519.949
|
|
|
Cash & Bank Balances
|
539.912
|
273.642
|
51.621
|
|
|
Other Current Assets
|
79.825
|
43.345
|
45.940
|
|
|
Loans & Advances
|
1311.571
|
876.626
|
551.001
|
Total Current Assets
|
5868.567
|
3969.118
|
3643.904
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
4998.994
|
4910.555
|
4083.556
|
|
|
Provisions
|
333.310
|
190.272
|
154.456
|
Total Current Liabilities
|
5332.304
|
5100.827
|
4238.012
|
|
Net
Current Assets
|
536.263
|
(1131.709)
|
[594.108]
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
3.972 |
1.203 |
3.006 |
|
|
|
|
|
|
|
TOTAL
|
10061.637 |
9032.870 |
9888.649 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales
Turnover |
27223.300 |
14954.978 |
13451.046 |
|
|
Other Income |
0.000 |
0.000 |
328.314 |
|
|
Total
Income |
27223.300 |
14954.978 |
13779.360 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
205.600 |
(1457.833) |
(119.440) |
|
|
Provision for Taxation |
9.500 |
17.821 |
0.000 |
|
|
Profit/(Loss) After Tax |
196.100 |
(1475.654) |
(119.440) |
|
|
|
|
|
|
|
|
Earnings
in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
NA |
NA |
1450.639 |
|
|
Commission Earnings |
NA |
NA |
113.786 |
|
Total
Earnings |
NA |
NA |
1564.425 |
|
|
|
|
|
|
|
|
Imports
: |
|
|
|
|
|
|
Purchase for resale |
NA |
NA |
230.489 |
|
|
Capital Goods |
NA |
NA |
186.705 |
|
|
Others |
NA |
NA |
3747.843 |
|
Total
Imports |
NA |
NA |
4165.037 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
NA |
|
10871.235 |
|
|
Administrative Expenses |
NA |
16412.811 |
2046.817 |
|
|
Financial Charges |
353.200 |
|
301.146 |
|
|
Depreciation & Amortization |
1040.600 |
|
740.870 |
|
|
|
25623.900 |
|
NA |
|
Total
Expenditure |
27017.700 |
16412.811 |
13960.069 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT /
Total Income |
(%) |
0.72
|
(9.86)
|
( 0.87) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.76
|
(9.74)
|
(0.89) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.34
|
(10.35)
|
(0.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.47)
|
(1.41) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.68 |
3.58
|
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
0.77
|
0.86 |
LOCAL
AGENCY FURTHER INFORMATION
Fixed Assets:
- Land-Freehold
- Leasehold
Improvement
- Building
- Plant
and Machinery
- Computers
- Furniture
and Fixtures
- Vehicles
Form 8
|
Corporation identity number or foreign company
registrations number of the company |
U34103TN2000PTC045537 |
|
Name of the company |
FORD INDIA PRIVATE LIMITED |
|
Address |
S P Koil Post, Chengalpattu-
603204, Kancheepuram District, Tamil Nadu, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Immovable property |
|
Particular of the charge holder |
Indan Overseas Bank Limited, Nandanar Street, NH2,
Maralmalai Nagar, Tamilnadu-603209 |
|
Nature or description of the instrument creating
charge |
No instrument was execured but on 15.03.2007 a mortgage
was created by the company infavour of Indan Overseas Bank by deposit of
title deeds with ICICI Bank in respect of company’s immovable properties
situated at Klikarabai and Thirukatchur, Chengelpur Taluk, Kancheepuram
District in the state of Tamilnadu in order to create a security thereon as
tend byway of mortgage by deposit of title deeds pursuant to the resolution
passed by the directors of the company on 15.12.2005 |
|
Date of the instrument creating charge |
15.03.2007 |
|
Amount Secure by the charge |
Rs.250.000 millions |
|
Brief of the principal terms and conditions and extent and
operation of the charge |
Rate of interest As stipulated in the loan agreement |
|
Particulars of the Property charged |
The company’s immovable poroerties
situiated at Kilkaranai and Thirutchur, Chegelpur Taluk, Kancheepuram
District in the state of Tamilnadu as defined in the loan agreement and as
defined in the memorandum of entry. |
|
Particulars of the present modification |
No instrument was executed but on 15.03.2007 a mortgage was
created by the company in favour of Indian Overseas Bank by deposit of title
deeds with ICICI Bank in respect of company’s immovable properties situated
at Klikarabai and Thirukatchur, Chengelpur Taluk, Kancheepuram District in
the state of Tamilnadu in order to create a security thereon as tand byway of
mortgage by deposit of title deeds pursuant to the resolution passed by the
directors of the company on 15.12.2007 |
OTHER DETAILS:-
Ford India
has become a major player in the preservation of environment
28/09/2005 Ford
to name its new model 'Fiesta' in India
10/08/2005 V. Sivaramakrishnan appointed Vice-President of
Sales, Marketing and Service at Ford India
10/08/2005 Special
offers for rain damaged Ford vehicles in Mumbai
25/07/2005 Ford?s
next generation TDCi technology to power the new model.
06/07/2005 Arvind
Mathew appointed Managing Director and President of Ford India.
25/06/2005 Ford
inaugurates Brand@Retail dealership facility at Kottayam
23/06/2005 Wasan
Ford showcases the new Ford Brand@Retail look.
21/06/2005 New
Ford Dealership Inaugurated at Trichur
19/04/2005 Ford steps up presence in the North East. New
Brand @ Retail showroom at Tinsukia
18/04/2005 Ford
enhances service support at Allahabad
17/04/2005 Ford
inaugurates KS Ford dealership in Bhilwara
16/04/2005 Ford
enhances to Brand @ Retail facility at Udaipur
17/03/2005 Latest Ford Mondeo debuts in India at Rs.
14.20 Lakhs (ex showroom, New Delhi)
07/03/2005 March
Masti - It's time to buy a Ford!
03/03/2005 Ford
- Fusion-Wanna go on a wild trip? Karega"
02/02/2005 Ford
inaugurates PVS Ford at Calicut
21/01/2005 Ford
inaugurates new showroom at Bangalore
17/12/2004 New
Ford showroom at Prabhadevi Mumbai.
24/11/2004 New
Ford Dealership inaugurated in Hyderabad
02/11/2004 Ford
Chief Operating Officer flags off First Fusion in India.
20/10/2004 5000th
Container shipped from Ford India Export Plant
11/10/2004 Ford
ramps up dealership presence in NCR
11/10/2004 Five
years of Josh. Ford Ikon Celebrates 5th anniversary
30/09/2004 Ford
launches 'Total Maintenance Plan' for the Josh customer
25/08/2004 Ford
announces launch of Ford Fusion an Urban Activity Vehicle(UAV)- Part 2
25/08/2004 Ford
announces launch of Ford Fusion an Urban Activity Vehicle(UAV)
10/08/2004 Ford
Launches New Irresistible Ikon
02/08/2004 Ford
dealership inaugurated at Trichy
30/07/2004 Ford
dealership inaugurated at Nellore
30/07/2004 Ford
plans to ramp up dealership facility in Madurai
13/07/2004 Ford
launches Cargainz a unique Customer Loyalty programme
14/06/2004 Ford
India on the Fast Track
01/04/2004 Ford
India Posts Highest Sales Ever
25/03/2004 Aditya
Ford to provide world-class service to Ford customers in Vidarbha
17/03/2004 Brij
Ford to cater to Ford customers in the Eastern UP region
02/01/2004 Ford
creates a unique experience for its customers
14/10/2003 Ford
Endeavour at Rs. 12.90 Lakhs, Ex-Delhi
24/09/2003 Ford
Rolls out 'Endeavour' SUV at Chennai Plant
05/08/2003 Ford
Does It With Flair
16/07/2003 Ford
India launches Ikon NXT SXi
19/06/2003 Ford
Celebrates Centennial in India
04/06/2003 Ford
Motor Company awards World Excellence Award to Cooper Tire and
Rubber Company, India Private
Limited
Press
Releases
Ford India Launches New Fiesta with
Appeal, Performance and Improved Safety
Thursday 19 June, 2008
With today's launch of the new Ford Fiesta, Ford India raises
the competitive bar for style, performance, safety, comfort and driving
dynamics in India's mid-size car segment.
Outside, an aggressive face and bold headlamps highlight the
look of the new Ford Fiesta. Inside, the new Fiesta boasts several significant
design revisions with upgraded fabrics and leathers – now offered in an even
wider variety of colours – and detailed improvements in quality and finish.
Significantly, this fresh and exciting new Ford Fiesta gives
Indian consumers the choice between Ford India’s advanced and efficient Duratec
(petrol) and Duratorq (turbodiesel) engines. Both engines are fuel efficient
and produce class-leading performance.
At the unveiling of the new Ford Fiesta, Michael Boneham,
president of Ford India said, ''The bold styling of new Fiesta indicates a
clear move toward European design cues and is a true reflection of the Ford
Fiesta's exciting on-road character.''
Ford India is offering consumers plenty of choice. The new
Ford Fiesta model range includes three petrol variants – 1.6 EXI, 1.6 ZXI and
1.6 SXI – and three turbodiesel variants – 1.4 EXI, 1.4 ZXI and 1.4 SXI. In
addition, Ford India introduces the Fiesta 1.6 S – a sport variant that has
been uniquely developed for a demanding segment of Indian consumers.
"We see a growing niche in the Indian market – a
discerning set of customers who enjoy driving and want a car to reflect their
individual personality and style. We've developed the Fiesta 1.6 S with its
body kit and performance for that customer. This niche wants a Fiesta with more
agility and athleticism," said Nigel Wark, executive director, Marketing,
Sales & Service, Ford India.
The Ford Fiesta range is priced from Rs. 6, 20, 000 for
petrol variants and from Rs. 7,10,000 for the turbodiesel models. The Fiesta
1.6 S, available only with the 101PS petrol Duratec engine, is aggressively
priced at Rs. 7,15,000 (Ex-showroom, New Delhi)*.
"The improvements to the Fiesta range reach far deeper
than its bold, expressive headlamps and more comfortable interior. Our
engineering teams have improved Fiesta's occupant safety, refined its already
impressive driving dynamics and developed the sporty 1.6 S variant. The
improvements that enhance the new Ford Fiesta are based on direct customer
feedback and preferences,'' adds Boneham.
The new front fascia is visually strong and expressive,
elevating Fiesta's on-road presence. The large trapezoidal lower opening and
dramatic headlamps define Fiesta as being confident and composed.
Equipped with five-spoke, 15-inch alloy wheels, the Fiesta
1.6 S evolves to a higher dynamic level. Exterior styling accentuates its
responsive on-road abilities with unique bumper treatments, a sports body kit
which extends from the bumpers through the bodyside rocker moulding, a new rear
spoiler and chrome tipped exhaust.
Morello and Thunder are new colour choices for the Fiesta
range, joining Panther Black, Diamond White, Brush Steel, Paprika Red, Moondust
Silver and Platinum.
Fiesta 1.6 S is also offered in bright, eye-catching
Aquarius.
The new Fiesta interior is vastly improved with comfortable,
sophisticated new fabrics, colours and finishes. New instrument clusters
feature a honeycomb graphic theme and bezel highlights.
The top-end Fiesta SXI offers luxurious, beige leather
seats, enhanced with soft leather and tailored stitching, and the new dark
mahogany centre console surround. The Fiesta 1.6 S offers Ebony and Jasper Blue
interiors combined with a liquid metal audio surround and central console.
The Fiesta 1.6 S and SXI series feature advanced CD audio
units with MP3 capability and a dedicated audio input jack for iPods and
similar MP3 players.
Nimble and responsive steering control and excellent chassis
balance define Fiesta’s on-road character. All Fiesta models feature an
advanced European chassis.
The suspension of the new Fiesta 1.6 S has been precisely
tuned to provide a higher level of driver-machine interaction. This gives
Fiesta 1.6 S the best steering and suspension control in the segment.
''Keen auto enthusiasts looking for performance will find
Fiesta a clear winner. It combines Ford’s highly refined, fuel-efficient 1.6
petrol and 1.4 turbo diesel powertrains, a refined cable shift transmission and
finely tuned hydraulic clutch and pedal positions to create the finest
driveability currently available in the midsize segment,'' Wark says.
New Fiesta incorporates an array of active and passive
safety features, reflecting Ford’s emphasis on safety and security.
Ford Fiesta SXI and the 1.6 S feature Advanced Anti-lock
Braking System (ABS Plus) along with Electronic Brake Force Distribution (EBD)
for optimal vehicle control during extreme braking in all weather and road
conditions.
The Ford Fiesta SXI and 1.6 S also provide driver and
passenger airbags as standard equipment. The load-limiting inertial safety belt
technology is designed to limit chest loads on impact.
All Fiesta variants offer the following safety and security
features:
- An
advanced, computer-modeled body structure with front and rear crumple
zones
- A
soft-feel steering wheel and collapsible steering column
- Anti-submarine
front and rear seat cushions
- Two-way,
height-adjustable, padded front seat head restraints
- Childproof
safety locks on rear doors
- PATS
(Passive Anti-Theft System) to protect against drive-away theft
- Steering
column lock
- Remote
opening fuel filler door
- High
security lock sets
- Remote
keyless entry (with the exception of the EXI model)
For the unique Indian environment, Ford has engineered and
designed the Fiesta to exceed its industry leading global standards, such as
heightened water wading, where the vehicle is tested to 450mm in depth in
dynamic and stationary driving scenarios. Fiesta’s superb HVAC system also is
calibrated to cool the interior rapidly in extremely hot conditions (e.g. 49°
C).
''Along with the numerous world class features that we have
added to Fiesta, its fuel efficiency makes Fiesta a natural choice for
customers in light of recent developments on fuel prices,” Boneham said.
“Besides holding a national record for best mileage, Fiesta travelled from
Bangalore to Mumbai on one tank of fuel and remains top of the class in terms
of fuel efficiency in real road conditions.''
Ford Motor Company
Appoints Michael Boneham President and Managing Director, Ford India
Friday 2 May, 2008
Ford Motor Company today announced the appointment of
Michael Boneham as president and managing director of Ford India, reporting
directly to John Parker, executive vice president, Asia Pacific and Africa.
Boneham will succeed Arvind Mathew, who has been appointed to a leadership role
within the global product development team, and will re-locate to Ford Motor
Company's world headquarters in Dearborn, Michigan. Both appointments are
effective June 1, 2008.
In his new role, Boneham will be responsible for the
successful and ongoing implementation of Ford Motor Company’s aggressive
expansion plans in India. This includes its move to volume production of both
engines and vehicles by 2010, following earlier announcement this year to
invest an additional $500 million in Ford India's operations.
Boneham has more than 20 years experience in the automotive
industry, with comprehensive knowledge and understanding of Ford's global
manufacturing and operations. He is currently executive director of operations
at Ford India, where he has been responsible for Product Engineering,
Purchasing, Manufacturing and Quality.
"Michael's significant experience with Ford's global
manufacturing processes and operations will be invaluable as we expand our Ford
India operations and further integrate our global production systems and
processes," said John Parker.
"Under Arvind Mathew's leadership, the Ford brand in
India has become highly regarded for quality, handling, driving performance and
fuel efficiency. Under Michael Boneham's leadership, we will continue with an
aggressive strategy aimed at significantly expanding our operations and driving
future growth,'' added Parker.
Prior to his Ford India posting, Boneham served as
manufacturing director, Asia Pacific and Africa, based in Ford Motor Company's
regional headquarters in Bangkok, Thailand, where he was instrumental in
driving significant capacity expansion of Ford's operations across the region.
He was also responsible for the implementation of an integrated regional
Quality Operating system, as well as the Ford Production System, which
incorporated Ford's fully integrated manufacturing facilities and operations.
Michael has significant experience in launching key new product for the Company and has held a number of senior international manufacturing positions within Ford Motor Company, including plant manager, Powertrain Operations at Ford Australia; general manager, Vehicle Operations at Land Rover in the UK; and plant manager of Auto Alliance International, a Ford/Mazda joint venture production facility in Michigan, USA.
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.49.95 |
|
UK Pound |
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.63.65 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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
|
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 |