MIRA
INFORM REPORT
|
Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAI SERVICE STATION LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.08.1985 |
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Com. Reg. No.: |
11-37099 |
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Capital
Investment/ Paid-up Capital: |
Rs.40.730
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60210MH1985PLC037099 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS42148B/ MUMS42164D/ MUMS42161A/ MUMS40414D / MUMS36760D |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCS4998M |
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|
Legal Form : |
A Closely held public limited liability company. |
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Line of Business
: |
Authorised dealer of Maruti Suzuki, Bajaj and Mahindra for
Two Wheelers and Four Wheelers. |
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|
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No. of
Employees: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3100000 |
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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 one of the largest Maruti Suzuki Car dealers. It is an established company having fine track. Financial position of the
company is good. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Nutan Kumar |
|
Designation : |
Junior Officer |
|
Name : |
Mr. Pramod Zinde |
|
Designation : |
Accounts Department |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-20-46404430/ 46404444 |
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Mobile No.: |
91-9923098200 (Mr. Rajvi shah) |
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Fax No.: |
91-20-46604421 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. ft. |
|
Location : |
Owned |
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Corporate Office : |
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Tel. No.: |
91-20-41401111 |
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Branches: |
Located At: ·
·
Andheri (East) ·
Goregaon ·
Borivali ·
Vasai (West) ·
Pune ·
·
·
|
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Yogendra P. Trivedi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Mistry Manor, 62A, |
|
Date of Birth/Age : |
06.01.1929 |
|
Date of Appointment : |
07.03.1994 |
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DIN No.: |
00001879 |
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Name : |
Mr. Shridhar Shama Kalmadi |
|
Designation : |
Managing Director |
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Address : |
Shamalalee S. No.6, Plot No.39/40, Baner, Pune-411 045, |
|
Date of Birth/Age : |
26.11.1947 |
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Date of Appointment : |
01.04.1993 |
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DIN No,: |
00044301 |
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Name : |
Mr. Mukesh Shama Kalmadi |
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Designation : |
Joint Managing Director |
|
Address : |
Worli Sagar Co. Operative, Housing Society, Worli Hill Estate,
Worli-400 018, |
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Date of Birth/Age : |
18.07.1953 |
|
Date of Appointment : |
01.04.1993 |
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DIN No.: |
00044258 |
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|
|
|
Name : |
Mr. Suresh Shama Kalmadi |
|
Designation : |
Whole time Director |
|
Address : |
428, Dr. Ketkar road, Erandwane, Pune-411 004, |
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Date of Birth/Age : |
01.05.1944 |
|
Date of Appointment : |
01.05.1999 |
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DIN No.: |
00044209 |
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|
Name : |
Mr. Sadananda R. Shetty |
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Designation : |
Director |
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Address : |
Ashirwad, |
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Date of Birth/Age : |
10.08.1946 |
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Date of Appointment : |
12.06.1996 |
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DIN No.: |
00063576 |
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|
|
Name : |
Mr. Kushal S. Hegde |
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Designation : |
Director |
|
Address : |
12, Buena Monte NCL Co- Operative Housing Society, pune-411 008, |
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Date of Birth/Age : |
07.11.1938 |
|
Date of Appointment : |
13.02.2002 |
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DIN No,: |
00135070 |
KEY EXECUTIVES
|
Name : |
Mrs. Vrushali P Eksambekar |
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Designation : |
Secretary |
|
Address : |
F/84, Sneh Society Mahada Project, Behind Corporation Bank, S.R. No.
29/1, 30/1, Hingane, Karvenagar, Pune-411052, Maharashtra, India |
|
Date of Birth/Age : |
23.07.1987 |
|
Date of Appointment : |
14.08.2010 |
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PAN No.: |
AAOPE4253F |
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|
|
|
Name : |
Mr. Nutan Kumar |
|
Designation : |
Junior Officer |
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|
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|
Name : |
Mr. Pramod Zinde |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Date |
Names of Shareholders |
No. of Shares |
|
11.09.2009 |
Kishore Shantilal Jai |
100 |
|
12.10.2009 |
Diplai Sandeep Rao |
700 |
|
12.10.2009 |
Papa Rao Gunti |
100 |
|
12.10.2009 |
Shashi Kumar |
100 |
|
12.10.2009 |
Sagar Padmakar Gandhi |
100 |
|
02.11.2009 |
Jenniffer Phyllis Lo |
100 |
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02.11.2009 |
Kirit Patel |
400 |
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02.11.2009 |
Rajesh Sadul |
100 |
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16.11.2009 |
Annadurai Kovilpilla |
200 |
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30.11.2009 |
Basaaraj B Pujar |
100 |
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30.11.2009 |
Bipin Patel |
100 |
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30.11.2009 |
Niketan Unde |
100 |
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17.12.2009 |
Thakorbhai V Gandhi |
100 |
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31.12.2009 |
B A Prathap Kumar |
100 |
|
31.12.2009 |
Harini Ch |
100 |
|
31.12.2009 |
Krishnchand Tejwani |
100 |
|
31.12.2009 |
Mamta Golani |
100 |
|
31.12.2009 |
Manoj K Singh |
100 |
|
31.12.2009 |
Raj Shankar |
100 |
|
14.06.2010 |
Sushma Arvind Gandhe |
500 |
|
09.07.2010 |
Kiran R Dharia |
100 |
|
12.07.2010 |
Hanumant Ramchandra |
200 |
|
12.07.2010 |
Prakash Khemani |
400 |
|
12.07.2010 |
Santosh Hiransingh Ne |
100 |
|
26.07.2010 |
Kurush Jimmy Patel |
200 |
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26.07.2010 |
Madhukasr Parekh |
200 |
|
26.07.2010 |
Savitri Devi Agrawal |
200 |
|
02.08.2010 |
Ajit Bapat |
200 |
|
09.08.2010 |
Iyer Subramanian V |
1300 |
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13.08.2010 |
Srinivas Jilla |
100 |
|
23.08.2010 |
Bhojraj Nanumal Khem |
400 |
|
25.08.2010 |
Mary Rocy Dabre |
200 |
|
30.08.2010 |
Yashoda C Karkera |
100 |
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30.08.2010 |
Dinesh Babasaheb Jag |
200 |
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06.09.2010 |
Ranjana Ajit Bapat |
200 |
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06.09.2010 |
M Mahdukara Reddy |
100 |
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06.09.2010 |
Shailesh Vishnu Ambr |
100 |
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17.09.2010 |
Vikas Kamble |
200 |
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17.09.2010 |
Kinjal Shah |
100 |
|
17.09.2010 |
Patel Kapilaben Vish |
100 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
Mutual Funds |
|
0.09 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.69 |
|
Bodies
corporate |
|
6.58 |
|
Directors
or relatives of directors |
|
87.90 |
|
Other
|
|
4.74 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Authorised dealer of Maruti Suzuki, Bajaj and Mahindra for
Two Wheelers and Four Wheelers. |
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Products : |
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Agencies Held : |
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PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Wind Turbine Generator |
Mw/ Kwh |
|
1.25 Mw |
1745 KWH |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities: |
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Banking
Relations : |
- |
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Auditors : |
|
|
Name : |
Joshi and Sahney Chartered Accountants |
|
Address : |
1913, Natu Baug, Sadashiv Peth, Pune-411 030, |
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|
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Subsidiaries : |
Sai Service Spares and Accessories Limited, U23300PN1991PTC062654 |
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Enterprises where significant influence exists : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4073014 |
Equity Shares |
Rs.10/- each |
Rs.40.730
Millions |
Note:
·
Of the above, 172414 shares allotted as fully paid
pursuant to the Scheme of Amalgamation without payments being received in cash.
·
8, 00,000 shares allotted as fully paid Bonus
Shares by Capitalising General Reserve.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
40.730 |
40.730 |
40.730 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
744.562 |
556.260 |
465.501 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
785.292 |
596.990 |
506.231 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
47.801 |
192.408 |
523.785 |
|
|
2] Unsecured Loans |
100.000 |
0.000 |
75.000 |
|
|
TOTAL BORROWING |
147.801 |
192.408 |
598.785 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
933.093 |
789.398 |
1105.016 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
530.479 |
376.705 |
331.101 |
|
|
Capital work-in-progress |
29.184 |
37.365 |
22.554 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.351 |
5.359 |
6.027 |
|
|
DEFERREX TAX ASSETS |
13.569 |
18.396 |
14.908 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
735.680
|
604.153
|
797.967 |
|
|
Sundry Debtors |
220.008
|
189.217
|
312.384 |
|
|
Cash & Bank Balances |
159.473
|
59.974
|
22.615 |
|
|
Other Current Assets |
45.199
|
21.312
|
5.291 |
|
|
Loans & Advances |
194.576
|
104.236
|
84.603 |
|
Total
Current Assets |
1354.936
|
978.892
|
1222.860 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
89.880
|
79.793
|
98.406 |
|
|
Other Current Liabilities |
792.232
|
460.953
|
311.852 |
|
|
Provisions |
118.314
|
86.573
|
82.176 |
|
Total
Current Liabilities |
1000.426
|
627.319
|
492.434 |
|
|
Net Current Assets |
354.510
|
351.573
|
730.426 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
933.093 |
789.398 |
1105.016 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Service Rendered |
11486.972 |
9232.034 |
8991.720 |
|
|
|
Other Income |
26.940 |
22.519 |
23.115 |
|
|
|
TOTAL (A) |
11513.912 |
9254.553 |
9014.835 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold/Consumed |
10229.515 |
8221.399 |
8096.851 |
|
|
|
General Expenses |
781.920 |
672.411 |
582.393 |
|
|
|
Prior Period Adjustments |
(12.480) |
(1.000) |
(4.100) |
|
|
|
TOTAL (B) |
10998.955 |
8892.810 |
8675.144 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
514.957 |
361.743 |
339.691 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.094 |
41.296 |
64.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
491.863 |
320.447 |
275.020 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
92.686 |
87.093 |
75.707 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
399.177 |
233.354 |
199.313 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
139.303 |
92.183 |
81.884 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
259.874 |
141.171 |
117.429 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
126.748 |
92.361 |
51.161 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
60.000 |
23.000 |
|
|
|
Proposed Dividend |
61.095 |
40.730 |
40.730 |
|
|
|
Corporate Tax on Dividend |
10.147 |
6.922 |
6.922 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
285.380 |
234.400 |
92.361 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
63.80 |
34.87 |
27.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.26
|
1.53
|
1.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.48
|
2.53
|
2.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.17
|
17.21
|
12.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.39
|
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.46
|
1.37
|
2.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.56
|
2.48 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
Year 2009-10 was a good year for the Company. The Company has achieved a
total turnover of Rs. 11513.912 Millions for the year as against Rs. 9254.553
Millions in the previous year; registering a growth of 24% over the previous
year Profit after tax has gone up to Rs. 259.874 Millions as against Rs.
141.171 Millions in the last year. This year also, the Company has been
bestowed with various awards for its performance in different areas of
operations.
The Company is successful in getting the Maruti dealership at
NEW BUSINESS:
The Company decided to diversify its business in Wind Power Generation
and Sales and has at the Extra — Ordinary General Meeting held on 31 December,
2009 duly amended the Object Clause of the Memorandum of Association of the
Company and also an approval was accorded under the Companies Act, 1956 for the
commencement of new business activity of wind power generation and sales.
The Company has during the year installed a Wind Turbine Generator (WTG)
of 1.25 MW capacity. The generator has been duly commissioned in the district
of Satara during the year and the power generated during the year has been
wheeled into MSEDC grid. The Company has also placed an order for two more WTGs
of 1.5 MW capacity each.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2010 (Rs.
in Millions) |
31.03.2009 (Rs.
In Millions) |
|
i) Corporate Guarantee: Corporate Guarantee given by the Company to bank
for its wholly owned subsidiary , Sai Service Spares and Accessories Limited |
65.000 |
65.000 |
|
ii) Guarantees given by banks on behalf of the Company. |
45.000 |
3.300 |
|
iii) Letter of Credit Issued by Bank on behalf of the Company |
100.867 |
96.579 |
|
iv) Claims against the Company not acknowledged as debts - |
|
|
|
-Sales Tax / VAT |
4.332 |
1.721 |
|
-Service Tax |
20.362 |
12.688 |
|
- ESI |
2.703 |
0.000 |
|
-Others In respect of Third Party |
0.288 |
0.288 |
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U60210MH1985PLC037099 |
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|
Name of the
company |
SAI SERVICE
STATION LIMITED |
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|
Address of the
registered office or of the principal place of business in |
Mumbai Pune Road, Near sandvik Asia Limited,
Dapodi Phugewadi, Pune 411012, Maharashtra, India |
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|
This form is for |
Modification of
Charge |
||||||||||||||||||||||||||||
|
Charge
identification number of the charge to be modified |
90084541 |
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|
Type of charge |
Immovable Property Book Debts Movable Property Others |
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|
Particular of
charge holder |
Bank of Maharashtra, Deccan Gymkhana, Pune-411004, |
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|
Nature of
instrument creating charge |
1) Memorandum of Record of Deposit of Title
Deeds. 2) Mortgagors Letter of Confirmation of
Creation of Equitable Mortgage (Both the documents constituted as single
charge) |
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|
Date of
instrument Creating the charge |
14.02.2011 |
||||||||||||||||||||||||||||
|
Amount secured by
the charge |
Rs. 750.000
Millions |
||||||||||||||||||||||||||||
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Bank of IDBI Bank: Cash
Credit @ 14% p.a. SBI: Cash Credit
@ 11.25% p.a. HDFC Bank : Cash
Credit @ 11.00% p.a. Barclays bank: Short Term Loan: To be mutually agreed Terms of
Repayment As per the Mutual
Agreements Margin Bank of SBI: 25% on
inventory and receivables HDFC Bank: Cash Credit
25% Extent and
Operation of the charge (Rs. in Millions)
|
||||||||||||||||||||||||||||
|
Short particulars
of the property charged |
First charge and
security by way of equitable mortgage by deposit of title deeds credited in favour
of BOM, IDBI, SBI, HDFC, Barclays over immovable property of the company
located at Dapodi, Pune First charge and
security by way of equitable mortgage by deposit of title deed created in favour
of BOM, IDBI, SBI, HDFC, Barclay Bank over immovable property located at
Penhan De France, Tal Bardez, |
||||||||||||||||||||||||||||
|
Date of
instrument modifying the charge |
31.03.2009 |
||||||||||||||||||||||||||||
|
Particulars of
the present modification |
The Existing
modification is for enhancing consortium credit facilities by Rs. 750.000
Millions The current
position is as follows: Cash Credit: Rs.
500.000 Millions LC/BG: Rs.
250.000 Millions Total: Rs.
750.000 Millions |
|
Corporate
identity number of the company |
U60210MH1985PLC037099 |
|
Name of the
company |
SAI SERVICE
STATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
Mumbai Pune Road, Near sandvik Asia Limited,
Dapodi Phugewadi, Pune 411012, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Indusind Bank Limited, 2401, |
|
Nature of description
of the instrument creating or modifying the charge |
Agreement for
Hypothecation of Current Assets (i.e. Maruti Vehicles) |
|
Date of
instrument Creating the charge |
22.01.2010 |
|
Amount secured by
the charge |
Rs.100.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per mutually
agreed terms. Interest @ 6.90% below the then prevailing PLR, at present
16.75% p.a subject to minimum of 9.85% p.a. along with applicable Interest
Tax. Terms of
Repayment Repayable on
demand, renewable after 6 months from the date of sanction. Margin NIL Extent and
Operation of the charge Maturity shall be
45 days from the date of Indent. |
|
Short particulars
of the property charged |
Hypothecation of
Current Assets. |
FIXED ASSETS
·
Land Freehold
·
Land Leasehold
·
Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Vehicles
AS PER
WEBSITE
Sai
Service Station Limited
Mr Sridhar
Kalmadi and Mr Mukesh Kalmadi incorporated Sai Service Station on 9th August
1985 as a Private Limited Company. By virtue of its turnover it became a deemed
Public Limited Company in 1988. Sai Service Station Limited was subsequently
converted into a Public Limited in 1994 and came out with a Public Issue of
Rs.245.000 Millions.
The
company is presently listed on the Mumbai Stock Exchange.
The
company was appointed as a dealer for Maruti Udyog Limited in 1985 and for
Bajaj Auto Limited in 1986.
Sai Service controls a large market share for these vehicles
in the areas it represents till date they have 158141 happy customers. Sai
Service was also appointed a dealer for Mahindra and Mahindra Jeeps in 1994.
Sai
Service is professionally managed Multi product, Multilocational Company with
ISO 9002 certification. It has set up service stations equipped with most
modern computerized equipment and manned by experienced and qualified
automobile engineers. The service stations are located in Mumbai, Pune,
The
company has also diversified into related activities like Used Cars and would
shortly starting TRUE VALUE OUTLET in Mumbai and Pune .
Sai is 3's
Sai is
3's Sales, Service, Spares Dealership of Maruti vehicle .It is one of
the largest network of dealership in Maharashtra (Pune,
Being
a multilocational dealership the total sales volume at all location is 13000
vehicles per year.
The
service station is attached to these outlets for customers convince.
They
have also satellite workshops, which are spread over, in the cities where the
dealerships are located. Workshops are handled by skilled labor that is trained
by Maruti Udyog LimitedAll these workshops are having modern facilities to help
diagnose problems in the vehicle at the quickest.
Service of Maruti Vehicles
Highest customers satisfaction in J.D.POWER.
SAI
Service as part of its Maruti franchise, has state-of-the-art workshops, and is
geared to service the entire range of Maruti Vehicles. In addition, Genuine
Spares are used for all requirements during service and could also be bough
across the counter.
The service team comprises of Works Manger, Service
Advisors, Service supervisors and Mechanics, who have received training Centers
located, in India
Benefits that the customers would be assured of :
Ř
Modern equipment to help quick diagnose
problems in the vehicle.
Ř
The safety of using genuine spare
parts.
Ř
Fully automated paint booth for quality
paint job.
Ř
The facility of breakdown and quick
repair cell.
Ř
The facility of opting for an Annual
Maintenance Contract.
Ř
Free pick and drop facility at
respective workshops.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial Crime
:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.85 |
|
|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.