MIRA
INFORM REPORT
|
Report Date : |
29.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MOTHERSON
AUTOMOTIVE TECHNOLOGIES AND ENGINEERING DIVISION OF MOTHERSON SUMI SYSTEMS
LIMITED |
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Registered
Office : |
3rd
Floor, Bhageria House, 43, Community Centre, New Friends Colony, New Delhi -
110 065 |
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Country : |
India |
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Financials (as
on) : |
31.03.2008 |
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Date of
Incorporation : |
19.12.1986 |
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Com. Reg. No.: |
55-26431 |
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CIN
No.: [Company
Identification No.] |
L34300DL1986PLC026431 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
DELM11353G /
DELM08600E |
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PAN
No.: [Permanent
Account No.] |
AAACM0405A |
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Legal Form : |
Public Limited Liability
Company. The company's Shares are Listed on the Stock Exchanges. |
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Line of
Business : |
Manufacturers of
Auto Ancillaries, Wiring Harnesses, Components and High Tension Cords. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 20000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Financial position is satisfactory. Trade relations are fair. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office
: |
3rd
Floor, Bhageria House, 43, Community Centre, New Friends Colony, New Delhi -
110 065, India |
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Tel. No.: |
91-11-26822778 /
26838069 / 26842174 |
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Fax No.: |
91-11-26842174 |
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E-Mail : |
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Website : |
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Units: |
v Plot No. 31B, JIADB Industrial Area, Phase
–1, Kumbalgodu, Bangalore, Karnataka v Motherson Automotive Technologies and
Engineering (A division of Motherson Sumi Systems Limited) No. 9, GST Road, Oorapakum Kanchipuram, District Chennai, Tamilnadu v B-22, SIDCO Industrial Estate, Hosur,
Tamilnadu v C-6 and 7, 1st and 2nd
Floor, Sector – 1, Noida, Uttar Pradesh v C-14, A and B, Sector -1, Noida – 201301,
Uttar Pradesh, India Tel No.: 91-120-2476100 / 2551851 Fax No.: 91-120-2521966 / 2521866 v A-15, Sector 6, Noida, Uttar Pradesh v Mohan Co-operative, Delhi v A-60-61, Sector 6, Noida, Uttar Pradesh v 129/2, Sanghvi Compound, Chinchwad, Pune, Maharashtra v Plot No. 21, Industrial Estate, Gurgaon,
Haryana v C-6 and 7, Ground Floor, Sector 1, Noida,
Uttar Pradesh v D-3, Sector 11, Noida, Uttar Pradesh v 8, Ayyenchery, Village Oorapakkam
Panchyet, Kancheepuram 603 202, Tamilnadu v
Survey No.
241-1/2, Hinjewadi, Tal Mulshi, District Pune – 411 027, Maharashtra v
96/3-P,
96/4, 96/7-P, A Block Indraprastha Industrial Park, Kumbalgodu Industrial
Area, 2nd Phase, Kumbalgodu, Bangalore, Karnataka v
9, GST Road,
Oorapakkam, Kancheepuram District, Tamilnadu – 603202, India Tel No.: 91-44-27467955 / 27467956 Fax No.: 91-44-27465337 v B – 135 and 206, Phase – II, Noida –
201301, Uttar Pradesh, India Tel No.: 91-120-2568790 / 2562728 Fax No.: 91-120-2562726 |
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Overseas
Offices: |
Located at :- ·
Austria ·
Hungary ·
Sharjah
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DIRECTORS
|
Name : |
Mr. Vivek Chaand
Sehgal |
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Designation : |
Chairman |
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Name : |
Mr. Toshimi
Shirakawa |
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Designation : |
Director |
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Name : |
Mr. Ram Ganapati |
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Designation : |
Director |
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Name : |
Mr. Mohinder
Singh Gujral |
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Designation : |
Director |
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Name : |
Mr. Hiroto Murai |
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Designation : |
Director |
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Name : |
Mr. Bimal Dhar |
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Designation : |
Director |
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Name : |
Mr. Toshihiro
Watanable |
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Designation : |
Whole Time
Director |
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|
Name : |
Maj. Gen. Amarjit
Singh (Retired) |
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Designation : |
Director |
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Name : |
Mr. Toshihide Ano |
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Designation : |
Alternate
Director |
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Name : |
Mr. Pankaj K.
Mital |
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Designation : |
Alternate
Director |
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Name : |
Mr. Arjun Puri |
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Designation : |
Director |
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Name : |
Mr. Amarjit Singh
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Designation : |
Director |
KEY EXECUTIVE
|
Name : |
Mr. G. N. Gauba |
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Designation : |
Company Secretary |
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Name : |
Ms. S. L. Sehgal |
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Designation : |
Founder Chairperson [Late] |
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Name : |
Mr. K. L. Sehgal |
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Designation : |
Chairman Emeritus [Late] |
SHAREHOLDING
PATTERN
(AS ON 30.06.2008)
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group 2 |
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(1) Indian |
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|
45361921 |
12.76 |
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(B)Bodies Corporate |
76185360 |
21.43 |
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(2) Foreign |
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(b) Bodies
Corporate |
131063670 |
36.86 |
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(B) Public Shareholding 3 |
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(1) Institutions |
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(a) Mutual Funds
/ UTI |
16178849 |
4.55 |
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(b) Financial Institutions / Banks |
12418 |
0.00 |
|
(f) Foreign Institutional
Investors |
21591160 |
6.07 |
|
(2) Non – Institutions |
|
|
|
(a) Bodies
Corporate |
26048259 |
7.33 |
|
(b) Individuals
– i. Individual
shareholders holding nominal share capital up to Rs.0.100 million ii. Individual shareholders
holding nominal share capital excess of Rs.0.100 million |
14698245 23112680 |
4.13 6.50 |
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© Any Other (specify) |
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|
|
i. Non Resident
Indians |
192794 |
0.05 |
|
ii. Clearing
Members |
1444 |
0.00 |
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iii. OCB |
1107000 |
0.31 |
|
Grand Total |
355553800 |
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturers of
Auto Ancillaries, Wiring Harnesses, Components and High Tension Cords. |
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Products with
ITC Code : |
v Integrated wiring harness - 8544.90 v Rubber Components - 40160000 v
Insulated
Wire - 8544.90PVC |
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Product Range: |
Blow Molded Components
Modules
Components for White Goods Industry
Electronics Industry
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Exports : |
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Countries : |
Europe and other
parts of the world |
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Imports : |
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Countries : |
Japan |
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Terms : |
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Selling : |
Against Credit
terms |
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Purchasing : |
Against Credit
terms |
PRODUCTION STATUS
|
Particulars |
Actual
Production |
|
Wiring Harness (Nos.) |
16.270 |
|
High Tension Cords (Nos.) |
0.398 |
|
Plastic Components (M.T.) |
58.134 |
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Wires (Km’s) |
0.447 |
GENERAL
INFORMATION
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Suppliers: |
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Customers : |
OEM’s |
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No. of Employees : |
5200 |
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Bankers : |
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Facilities: |
Secured Loans
referred above are: 1. Secured by
first charge by way of hypothecation of all present and future stocks, book
debts and other specified moveable assets of the company and second charge by
way of hypothecation of all immovable property. 2. Long term
loans due within a year Rs.200.046 millions (Previous year 16.276 millions) 3. Includes loan
of Rs.134.466 millions secured by charge on immovable property, stock in
trade an book debts of the company and Rs.23.800 millions secured by charge
on entire fixed assets both moveable and immovable of the erstwhile Motherson
Advance Polymers Limited since merged with the company. 4. Secured by
first pari – passu charge on entire fixed assets both moveable and immovable
of the company present and future and second pari – passu charge on the
entire current assets of the company. These are also secured by way of
deposit of title deeds of specified properties. 5. i) Tooling
advances received from customers are repayable by way of amortization on
supply of components and hence cannot be distinguished between short term and
long term. ii) Secured by hypothecation of
specific moulds used for production of compone.
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1. Repayable on demand 2. Long Term Loan due within a year Rs. Nil 3. Tooling advances received from customers are repayable by way of
amortization on supply of components and hence cannot be distinguished
between short term and long term. |
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Banking Relations
: |
Good |
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Auditors : |
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Name : |
Price Waterhouse
and Company Chartered
Accountants |
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Address : |
Building 8 , 7th
and 8th Floor, DLF Cyber City, Gurgaon – 122002, Haryana, India |
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Associates: |
Subject
established in 1917, Sumito Wiring Systems (SWS) has the second highest share
in wiring harnesses in Japan and the third highest share worldwide. Over a
period of time, SWS has taken various initiatives to further expand its share
in the global market, climbing from 11% in fiscal 2002 and 12% in fiscal 2003
to an anticipated 15% in fiscal 2004. The company’s
current revenues are Japanese Yen 345 billion with 66 overseas affiliates
spread over 26 countries. SWS provides technical
support to Company in the form of resident technical advisors, training of
engineers and production personnel, manufacturing methodologies, Japanese
manufacturing techniques, quality circle activities, kaizen, collaborative
design and development and global bench making. SWS is aiming to realize at
global level, the best quality at the most competitive cost and production in
optimum locations. To achieve this goal, SWS conducts bench making of three
levels company, plant and associates. This global bench making has raised
radically competitive environment in MSSL at all levels.
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Subsidiaries/Joint
Ventures : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
803000000 |
Equity Shares |
Rs. 1/- each |
Rs.803.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
355600000 |
Equity shares |
Rs. 1/- each |
Rs.355.600 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
355.600 |
234.889 |
234.900 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
3668.900 |
2774.924 |
1987.300 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
4024.500 |
3009.813 |
2222.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1584.600 |
946.392 |
925.700 |
|
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2] Unsecured
Loans |
3026.000 |
3033.654 |
2801.400 |
|
TOTAL BORROWING
|
4610.600 |
3980.046 |
3727.100 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
50.963 |
0.000 |
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TOTAL
|
8635.100 |
7040.822 |
5949.300 |
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APPLICATION OF FUNDS
|
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|
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|
|
|
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FIXED ASSETS [Net Block]
|
4123.200 |
3249.495 |
2419.600 |
|
Capital work-in-progress
|
196.600 |
68.162 |
220.400 |
|
|
|
|
|
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INVESTMENT
|
1775.300 |
1300.206 |
332.700 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
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CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
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Inventories
|
1484.900 |
1204.816 |
880.100 |
|
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Sundry Debtors
|
2046.200 |
1686.153 |
918.100 |
|
|
Cash & Bank Balances
|
326.700 |
365.922 |
1617.400 |
|
|
Other Current Assets
|
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances
|
3155.000 |
1408.888 |
1856.000 |
Total Current Assets
|
7012.800 |
4665.779 |
5271.600 |
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current
Liabilities |
2270.700 |
1532.770 |
1250.100 |
|
|
Provisions |
2621.900 |
1294.885 |
1800.100 |
Total Current Liabilities
|
4892.600 |
2827.655 |
3050.200 |
|
Net Current Assets
|
2120.200 |
1838.124 |
2221.400 |
|
|
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MISCELLANEOUS EXPENSES
|
419.800 |
584.835 |
755.200 |
|
|
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TOTAL
|
8635.100 |
7040.822 |
5949.300 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
15155.800
|
12384.700
|
8123.000
|
|
|
Other Income |
575.000
|
320.000
|
278.700
|
|
|
Total Income |
15730.800 |
12704.700 |
8401.700 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
1639.500
|
1414.500
|
937.500
|
|
|
Provision for Taxation |
357.600
|
272.800
|
110.800
|
|
|
Profit/(Loss) After Tax |
1281.900
|
1141.700
|
826.700
|
|
|
|
|
|
|
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Export Value
|
NA |
2039.647 |
1486.939 |
|
|
|
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|
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Import Value
|
NA |
3357.328 |
2108.673 |
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Raw Materials |
7800.100
|
6486.500
|
4080.400
|
|
|
Excise Duty |
2124.800
|
1572.500
|
988.700
|
|
|
Power & Fuel Cost |
235.000
|
215.200
|
171.600
|
|
|
Other Manufacturing Expenses |
676.300
|
542.100
|
400.000
|
|
|
Employee Cost |
1186.600
|
853.200
|
656.700
|
|
|
Stock Adjustments |
[157.400]
|
[90.200]
|
[102.200]
|
|
|
Selling and Administration
Expenses |
880.800
|
701.800
|
546.400
|
|
|
Miscellaneous Expenses |
579.800
|
306.200
|
192.000
|
|
|
Interest & Financial Charges
|
264.700
|
255.500
|
173.300
|
|
|
Depreciation |
500.600
|
447.400
|
357.300
|
|
Total Expenditure |
14091.300 |
11290.200 |
7464.200 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2008 |
|
Type |
|
|
1st
Quarter |
|
Sales Turnover |
|
|
3463.800 |
|
Other Income |
|
|
128.400 |
|
Total Income |
|
|
3592.200 |
|
Total Expenditure |
|
|
3246.600 |
|
Operating Profit |
|
|
345.600 |
|
Interest |
|
|
61.200 |
|
Gross Profit |
|
|
284.400 |
|
Depreciation |
|
|
127.700 |
|
Tax |
|
|
46.500 |
|
Reported PAT |
|
|
127.200 |
KEY RATIOS
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
Debt-Equity Ratio |
1.23 |
1.48 |
1.13 |
|
Long Term Debt-Equity Ratio |
1.21 |
1.46 |
1.12 |
|
Current Ratio |
1.43 |
1.62 |
1.48 |
|
TURNOVER RATIOS |
|
|
|
|
Fixed Assets |
2.46 |
2.47 |
2.26 |
|
Inventory |
11.27 |
11.67 |
10.60 |
|
Debtors |
8.12 |
9.24 |
10.77 |
|
Interest Cover Ratio |
6.26 |
6.54 |
6.46 |
|
Operating Profit Margin(%) |
14.23 |
17.10 |
18.25 |
|
Profit Before Interest And Tax
Margin(%) |
10.93 |
13.48 |
13.90 |
|
Cash Profit Margin(%) |
10.50 |
12.83 |
13.94 |
|
Adjusted Net Profit Margin(%) |
7.19 |
9.22 |
9.59 |
|
Return On Capital Employed(%) |
22.72 |
28.60 |
29.25 |
|
Return On Net Worth(%) |
31.17 |
43.49 |
39.17 |
LOCAL AGENCY
FURTHER INFORMATION
History
Incorporated in Dec.'86, Motherson Sumi Systems (MSSL) was
promoted by Motherson Auto Private Limited (MAPL), K L Sehgal, V C Sehgal and
associates with technical and financial collaboration with Sumitomo Wiring
Systems (SWS) and Nissho Iwai Corporation (NIC), Japan. The business of MAPL
was later transferred to MSSL.
It manufactures integrated wiring harnesses (IWH) for the automotive and
electronic industries and is the market leader in the manufacture of IWH in
the country. Further the company has
its presence Plastic Division ( which manufactures wide range of injection
moulded components and asemblies etc.,) and also in Rubber Components, Heat
Sinks and others. The plants of the company are located at Noida (UP), New
Delhi, Gurgaon (Haryana), Pune (Maharashtra), Bangalore (Karnataka), Chennai
(Tamilnadu) and Pondicherry.
In Mar.'93, it entered the capital market and in Dec.'93 it inaugurated the ISO
9002 certified plant to manufacture wiring harnesses used in providing high
tension cords for Zen and Alto. In 1995, the Unit at Pune, Maharashtra to
manufacture TELCO wiring harnesses started functioning and a new wiring unit
was started in technical collaboration with SWS, Japan.
The Subsidiaries of MSSL are MSSL Mideast (FZE), MSSL Mauritius Holdings
Limited, MSSL Ireland Private Limited, MSSL Handels GmbH, Motherson Electrical
Wires Lanka (Private) Limited, MSSL(s) Pte Limited, MSSL Hag Tolings
Limited(FZC), MSSL GB Limited, MSSL GmbH, Draexlmaier and Motherson Electrical
System India Limited, Motherson Pudenz Wickmann Limited, Woco Motherson
Elastomer Limited and Woco Motherson Advanced Rubber Technologies Limited
The company has floated a few new companies like, BTR Motherson Automotive
Private Limited in joint venture with BTR Plc of UK, Britax Motherson, Kromberg
and Schubert Motherson Sumi Systems in joint venture with Kromberg and Schubert
A.G., Germany, Kyungshin Industrial Motherson Private Limited in joint venture
with kyungshin Industrial Company, Korea, Motherson Elastomers Private Limited
in joint venture with WOCO Franz Joseph and Company, Germany.
The Delhi High Court has approved the amalgamation of Motherson Auto Components
Engineering Limited (MACE) and Motherson Sumi Electric Wires (MSEW) 100%
subsidiaries with the company. During September 2005 the company has decided
merge Draexlmaier and Motherson Electrical Systems India Limited, a 100%
subsidiary of the company with the company.
In December 2005 the company has decided to merge Motherson Advance Polymers
Limited with itself with effect from 1st April 2005 and this scheme of merger
is subject to approvals. During 2004-05 the company has transferred its
Elastomer Division into Woco Motherson Elastomer Limited, a subisidiary company
with effect from 1st June 2004.
In May 2005 the company has incorporated a new subsidiary 'Motherson Sumi
Reiner Gmbh', in Germany, which is an agreement between the company and Reiner
Prazision Gmbh to take over their business on going concern basis. Further the
company has decided to set up a new subsidiary in joint venture with Sumitomo
Wiring Systems Limited, Japan at Sharjah for supply of wiring harnesses to
Sumitomo Wiring Systems.
During March 2004 the company sub-divided its equity share face value from
Rs.5/-per share to Re.1/- per share and further in February 2005 the company
issued bonus equity shares to its shareholders in the ratio of 1:2.
During 2004-05 the company has expanded its facilities a Nodia with a new
dedicated unit for exports of Wiring Harness. Further the company has started a
new unit for Plastics at Chennai to cater to the requirements of Hyundai Motors
and for exports GM Holden, Australia which will commence in the year 2005-06.
Motherson Automotive Technologies and Engineering, the plastic division of the
company has decided to expand its Plastics facilities at Chennai to build
capacity for catering to increasing requirement of Ford India Limited and also
for export of components to Ford Europe. The Plastic Division which is being
set up at Manesar will become operational during 2005-06.
Trade Terms
·
Bajaj Auto
Limited
·
Bharat Earth
Movers Limited
·
Daewoo Motors
India Limited
·
Eicher Limited
·
Ford India
Limited
·
Fiat Auto
India Limited
·
Escorts
Construction Equipments Limited
·
International
Tractors
·
Hyundai Motors
·
Mercedes Benz
India Limited
·
Mahindra and
Mahindra Limited
·
Kinetic
Engineering Limited
·
Honda Siel
Cars
·
Philips India
Limited
·
WKH India
Limited
·
Wipro GE
Medical Systems Limited
·
Panasonic
·
WOCO Franz
Josef Wolf and Company, Germany
·
Sumitomo Wiring
Systems Limited
·
Hag Handles
·
Kautex-Textron
·
Kikert AG
·
Piaggio
·
Taylor Dyne
·
Trodat
·
Wilhelm
Pundenz
·
Roche
Diagnostics
·
Endress + Hauser
·
Hewlett
Packard
·
Alok Leasing
Private Limited
·
Celloplast
Industries
·
Hytech
Engineers
·
Halonix
Industries Private Limited
·
Mega Rubber
Technical Private Limited
·
Paragon
Autotech Products Private Limited
·
Plastometal
Engineering (India) Private Limited
·
SSI Rubbers
·
Super Screws
Private Limited
·
United
Industries
·
Vidya Rubber
·
Sujo Plast
·
V. M.
Enterprises
·
Tubeflex
·
Vankusha
Rubber Products
·
Vinay Traders
·
Numeritech
Engineers (India) Private Limited
·
Electro Flash
·
Sankhala
Industries
·
Priya Plastics
·
S. C. J.
Plastics
·
Bafna
Packaging Private Limited
·
Paper Pack
Industries
·
Concept
Engineering (India) Private Limited
·
Kund Kund
Polymers
·
Interface
Microsystems
·
Aglow
Engineers
·
Agrahan
Engineers
·
Ashok
Insulation
·
Bharti Wood
Works
·
Cello Plast
Industries
·
Concept
Engineering India (Private) Limited
·
Excel Glass
Fibre India (Private) Limited
·
Grand
Industries
·
Hytech
Engineers
·
National
Electronics Corporation
·
Numeritech
Engineers (India) Private Limited
·
Paragon Auto
Industries
·
Pranay
Insulations
·
Sakshi
Polytubes Private Limited
·
SGR Elastomers
(India) Private Limited
·
Alfa
Industries
·
Shriram
Engineering
·
Sree Raja
Ganapathy Industries
·
Sakthi Springs
Forms (Private) Limited
·
Tritech
Engineering
Fixed Assets:
·
Leasehold land
·
Building
·
Plant and
Machinery
·
Furniture
·
Fixtures
·
Office
Equipment
·
Computers
·
Vehicles
As Per Website Details
Overview
Subject is the flagship company of Sumi Motherson Group. The
wiring harness division of MSSL is the largest manufacturer of wiring harnesses
in India. Serving the entire cross-section of the automotive industry. Subject
also supplies wiring harnesses to Material Handling, Earth Moving and Farm
Equipment, White Goods and Electronics, Elevators, Office Automation and
Medical Equipment industries.
Subject as a supply partner provides complete solutions to
its customers right from product design to mass supplies. MSSL has expertise in
project management.
Started in 1995, MATE specialises in blow molding, large
size injection molding, compression molding and vacuum forming, consumer
durables, white goods and electronics which are supported by post moulding
operations. MATE manufactures a wide range of plastic components and is a
leading module supplier to the Indian automotive industry.
The manufacturing facilities include injection molding upto
3200 Ton, blowmolding, robotic trimming operations, fabric upholstery,
painting, product decoration, assembly operations, higher level assemblies,
complete post-processing facilities including paint shop and printing
facilities.
Manufacturing Capabilities 
- Injection Molding
machines from 40 ton to 3200 ton capacity
- State-of-the-art
Blow Molding machines
- Compression
Molding facility
- Product
Finishing with Fabric Upholstery and Vinyl Lamination
- Ultrasonic
Welding
- Robotic
Trimming Operations
- Painting of
plastic parts
- Gas Injection
Molding facility
- Gas Injection
Molding facility
- Post Molding
Operations
- Silk screen
printing Auto screen printing Hot plate welding Pad printing In House tool
maintenance
Mile Stone
|
1975 |
v
Motherson was founded |
|
1977 |
v
First Cable factory started |
|
1983 |
v
Technical agreement with Tokai
Electric Co. (Now Sumitomo Wiring Systems - Japan)
for Wiring Harness |
|
1986 |
v
JV with Sumitomo Wiring Systems Japan |
|
1989 |
v
Injection Molding |
|
1992 |
v
Cutting Tool Manufacturing |
|
1994 |
v
Tool Room for small and Medium
sized Molds (upto 650 Tons) |
|
1995 |
v
Cockpit Assemblies v
Automotive Mirrors |
|
1997 |
v
Blow Molding |
|
1998 |
v
Rubber Injection Molding |
|
1999 |
v
First Overseas office
established (Austria) |
|
2000 |
v
IT and Design Company v
Singapore Office Established |
|
2001 |
v
Liquid Silicon Rubber Injection
molding v
Machined Metal Components |
|
2002 |
v
Wiring Harness manufacturing at Sharjah v
Design Centre at Ireland |
|
2003 |
v
Offices in USA and UK
established v
Tool Room at Sharjah v
Automotive Sunroofs |
|
2004 |
v
European Headquaters at Germany v
Sheet Metal Die Design |
|
2005 |
v
Injection Molding and metal
Machining in Germany v
JVs for v
Environment Management Systems v
Industrial Robots v
Automotive Manufacturing
Engineering v
Plastic Molding and Metal
Machining at Germany v
PVC Tube Manufacturing |
|
2006 |
v
Wiring Harness Manufacturing in UK v
Bus Airconditioning Systems |
|
2007 |
v
Rubber parts Manufacturing in Australia v
JVs for v
HVAC Systems, Meterclusters,
Body Control Modules and Compressors v
Lighting Systems, Pedal Box
Assembly and Air Intake manifolds v
Bimetal BandSaws v
Transport and Stationary
Refrigeration Systems v
Thin Film coating metals |
The Sumi Motherson Group is a focused, dynamic and progressive group
providing customers with value added products, services and full system
solutions.
They are
joint venture specialists, providing customized integrated solutions combining
multiple technologies supported by their global partners.
Their
accomplishments include being the first in India to manufacture integrated
Wiring Harnesses and Woodstock Door Trims.
They are
the largest manufacturer of Automotive Wiring Harnesses, Automotive Wires and
one of the largest plastic components supplier to the automotive and consumer
electronics industries.
They
continue to set higher targets for their selves in their pursuit to become a globally preferred solutions provider.
Partners
Wiring Harness
v
Sumitomo Wiring
Systems Limited,
v
Japan
Kyungshin Industrial Company,
v
S. Korea Lisa
Draexlmaier, Germany
Wires
v Sumitomo Wiring Systems Limited, Japan
Engineering
Design and Software Development
v
Sumitomo
Wiring Systems Limited,
v
Japan Miyazu Seisakusho
Company Limited, Japan
Polymer and
Tooling Injection Molding
v
Sumitomo
Wiring Systems Limited, Japan
Rubber and Liquid Silicon Rubber Components
v
WOCO
Industrietechnik GmbH, Germany
Injection Molding Tools
v
Sumitomo
Wiring Systems Limited, Japan
v
Centre Tooling
Mold Makers Private Limited, Australia
Strategic
Business Ventures Fuses
v
Wilhelm Pudenz
GmbH, Germany
v Wickmann Werke GmbH, Germany (Partner with
Littelfuse Inc. USA)
Rear Vision Systems
v
Schefenacker
AG, Germany
Sunroofs
v
Webasto AG,
Germany
Air Compressors
v
Anest Iwata
Corporation, Japan
Cutting Tools
v
Sumitomo
Electric Industries, Japan
Precision Machining
v
Reiner
Präzision GmbH, Germany
Industrial Robots
v
Yaskawa
Electric Corporation, Japan
Automotive Manufacturing Engineering
v
Automotive
Engineering Services, Japan
Environment Systems
v
E Compost,
Australia
Sumi Motherson
Group - Group Companies
A Basic Concepts Designs Private Limited
Subject is a Sumi Motherson Group company based in Melbourne (Australia)
specialising in product and tool design using state of the art design software.
AES (India) Engineering Limited
Subject is a joint venture between Automotive Engineering Services Company Limited (Japan) (AES) and the Motherson Group
Subject is a global player in the automotive engineering field, providing services to major automotive manufacturers worldwide.
ANEST IWATA Motherson Limited
Subject is a joint venture between Anest Iwata Corporation (Japan) and
the Motherson group. AIM manufactures Lubricated and Oil-Free Reciprocating
Compressors.
CTM India Private Limited
Subject is a commercial tool room with capabilities to manufacture
injection moulding and blow molding tools. Checking fixtures and Gauges. CTMIL
is a joint venture between CENTRE TOOLING (Australia) and Motherson Sumi
Systems Limited. CTMIL currently runs one plant in South India and will soon be
supported with a new plant in North India.
G and S Kunststofftechnik GmbH
Subject is a subsidiary of Motherson Sumi Systems Limited located at Schwäbisch Gmünd (Germany).
G and S specializes in plastic injection molding and two component resin injection molding which are supported by post molding processes.
Global Environment Management (FZC)
Subject is a joint venture between MSSL Mauritius Private Limited, a Sumi Motherson Group Company and ECompost Pty Limited, an Australian based specialist developer of ecologically sustainable initiatives, products and services. GEM has been formed for the marketing of commercially viable, environmental improving products.
Kyungshin Industrial Motherson Limited
Subject is a joint venture between Kyungshin Industrial Company Limited
(South Korea) and Motherson Sumi Systems Limited.
Kyungshin Industrial
Company Limited is a leading manufacturer of integrated wiring harnesses in
Korea. KIML specialises in manufacturing wiring harnesses that are made to
customer specifications. Located at Chennai in India, KIML caters to the entire
wiring harness requirements of its customers in the region. The customers has
rated KIML as its best vendor in terms of quality, delivery and service, year
after year.
Miyazu Motherson Engineering Design Limited
Subject is a joint venture between Miyazu Seisakusho Company Limited (Japan), Sojitz Corporation (Japan) and Motherson Group. MMED is engaged in press die design and CNC code generation.
Located in NOIDA, the company provides design back to MIYAZU, Japan – based on which they produce Press Dies for world wide customers.
Motherson Advance Polymers Limited
Subject is a commercial molding facility
equipped with state-of-the-art japanese machines, located in North India. The
company specialises in manufacture of large size injection molded components
for consumer durables, white goods, electronics and automotive applications.
Motherson Automotive Technologies and
Engineering (A Division of MSSL)
Started in 1995, MATE specialises in blow molding, large size injection
molding, compression molding and vacuum forming supported by state-of-the-art
paint shops. MATE has 6 facilities in South India and 2 in North India. The
company provides a complete turn key solution supplying parts such as
Instrument panel assemblies, Door trims, Under bonnet parts, other Interior and
exterior parts.
Motherson PUDENZ Wickmann Limited
Subject is a joint venture between Wilhelm Pudenz GmbH (Germany) and
Wickmann Werke GmbH (Germany) (a partner of Littelfuse Inc. USA) and Motherson
Sumi Systems Limited for supply of protection products for applications in
automotive, electrical and electronics industries.
Motherson Sumi Electric Wires (A Division of
MSSL)
Motherson Sumi
Electric Wires (MSEW) is a division of Motherson Sumi Systems Limited,
manufacturing wires with technology from Sumitomo Wiring Systems Limited
(Japan).
MSEW is the largest
manufacturer of automotive wires in India, with facilities in North and South
India.
Motherson Sumi INfotech and Designs Limited
MIND is an IT services company, in collaboration with Sumitomo Wiring
Systems (Japan), specialising in Engineering
Design and Software Development
Software
Development Group
The Software
Development division of MIND is certified for SEI CMM Level 5 and ISO
9001:2000.
It primarily
provides:
Enterprise IT
Solutions
Solutions for
Software Companies
Engineering and
Design Services
The Engineering and Design Services division of MIND is certified for ISO 9001:2000.
It specialises in Body Styling, Product Engineering, Prototyping, Mold Design, Industrial Design and related services.
Mothersonsumi Reiner GmbH
Mothersonsumi Reiner GmbH (MSR) is a Joint Venture between Reiner
Präzision GmbH (Germany) and MSSL GmbH. The facility is located in
Donaueschingen (Germany), MSR specialises in Metal Turning and Plastic-Metal
Combined Parts.
Motherson Techno Tools Limited
Subject is a joint venture with Sumitomo Electric Industries (Japan) (SEI), for the manufacture and sales of Cubic Boron Nitride (CBN) and Polycrystalline Diamonds (PCD) Cutting Tools.
Sumitomo Electric Industries is the world leader in the field of CBN (Cubic Boron Nitride) and PCD (Polycrystalline Diamond) Cutting Tools.
Motherson Toolings Limited ( FZC )
Subject is a subsidiary of Motherson Sumi Systems
Limited. Located in Sharjah (UAE). Subject specialises in manufacturing of
injection molding tools for injection molding machines upto the range of 400
tonnes.
Motoman Motherson Robotics Limited
Subject is a joint venture between Yaskawa Electric Corporation (Japan), Sojitz Corporation (Japan) and the Motherson Group.
The company provides sales and service for the Motoman range of robots
in India.
MSSL Ireland Private Limited
Subject is a 100% subsidiary of Motherson Sumi Systems Limited. MSSL Ireland specialises in Design and Development of Wiring Harnesses. The design facilities include designing on Unigraphics, Capital - H and Pro E. The company also has complete Proto Building Facilities.
Being located in Europe, MSSL Ireland is able to provide prompt design
and engineering support to customers in the region.
MSSL Mideast (FZE)
Subject is a 100% subsidiary of Motherson Sumi Systems Limited. Located in SAIF Zone, Sharjah, the company specialises in manufacturing of wiring harnesses for material handling equipment and off-road vehicles.
Sumi Motherson Innovative Engineering
Limited
Component Division
A joint venture between Sumitomo Wiring Systems (Japan) and the Motherson group,
Sumi Motherson Innovative Engineering (Component Division) specialises in
manufacturing of small and medium sized injection molded plastic components and
small press stamped parts for an extensive range of products catering to
automotive, electric and electronics industry. The division also has competency
in manufacturing of press stamped small sheet metal parts.
Tooling Division
A joint venture between Sumitomo Wiring Systems (Japan) and the Motherson
group, Sumi Motherson Innovative Engineering (Tooling Division) is a commercial
tool room specialising in high precision tooling. The company designs and
manufactures plastic injection molding tools for a wide range of industry
applications for machines upto 350 Tonnes.
Schefenacker Motherson Limited
A joint venture between Schefenacker AG (Germany) and Motherson Sumi
Systems Limited. Schefenacker Motherson is a
black box designer and manufacturer of Rear-Vision Systems for the
Automotive Industry. The company provides complete services from designing to
clay modeling through aerodynamic compliance testing to commercial production
of rear vision systems.
Webasto Motherson Sunroofs Limited
Subject is a joint venture between Webasto AG (Germany) and the
Motherson Group. Webasto is the world's largest manufacturer of Sunroofs.
WOCO Motherson Limited (FZC)
Subject is a joint venture between WOCO Industrietechnik GmbH (Germany)
and the Motherson group for the manufacturing of high precision liquid silicon
rubber parts.
WOCO Motherson Elastomer Limited
Subject is a joint venture between WOCO Industrietechnik GmbH, Germany
and the Motherson group. The company manufactures Injection Moulded Rubber
Parts, Rubber to Metal Bonded Parts and Rubber to Plastic Bonded Parts mainly
for the Automotive Industry. WMEL also produces parts for White Goods Industry.
WMEL is a 100% E.O.U. and exports to Germany. The product range includes Cable
Grommets, Fire Wall Grommets, Water Drain Grommets, Non Braided Injection
Moulded Hoses, Spring Pads for Suspension Assemblies etc.
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 :
The 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.
The 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. 43.58 |
|
UK Pound |
1 |
Rs. 80.31 |
|
Euro |
1 |
Rs. 64.16 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
70 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|