MIRA
INFORM REPORT
|
Report Date : |
30.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BOSCH CHASSIS
SYSTEMS INDIA LIMITED (w.e.f. January 2006) |
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|
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Formerly Known As : |
KALYANI BRAKES
LIMITED |
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Registered Office : |
Panchshil, Quadar
1, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
25.05.1982 |
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Com. Reg. No.: |
11-027224 |
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Paid Up Capital : |
Rs.207.930
Millions |
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CIN No.: [Company
Identification No.] |
U34300PN1982PLC027224 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NSKK00678G PNEK00047F |
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PAN No.: [Permanent
Account No.] |
AAACK7312E |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business : |
Manufacturer of
Automotive Brake Systems and Components. |
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No. of Employees : |
3500
[Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
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 12000000 |
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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 company having fine track. Available information indicates high
financial responsibility of the company. Fundamentals are strong and healthy.
Trade relations are fair. Business is active.
Payments are reported to be regular and correct. The company can
be considered good for any normal business dealings. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DENIED BY
|
Name : |
Mr. Jayant Bhujwal |
|
Designation : |
Senior Officer – Accounts Department |
LOCATIONS
|
Registered Office : |
Panchshil, Quadar
1, |
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Tel. No.: |
91-20-39870302 / 39870300 |
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Fax No.: |
91-20-26810007 |
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E-Mail : |
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Website: |
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Area : |
10000 sq.ft. |
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Corporate
Office : |
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Tel. No.: |
91-20-26131021 / 23 / 24 / 25 / 39870300 |
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Fax No.: |
91-20-26133704 |
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E-Mail : |
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Website : |
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Factory 1 : |
Off NH 6,
Bambhori, Taluka Erandol, Dist. Jalgaon – 425 001, |
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Factory 2 : |
Nanekarwadi, Tal-Khed, District – Pune, |
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Tel. No.: |
91-20-39870302 |
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Fax No.: |
91-20-26810007 |
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Factory 3 : |
Plot No. 9,
Sector 3, |
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Tel. No.: |
91-124-2123569 /
2290528 / 3090358 |
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Fax No.: |
91-124-2123540 /
2290638 |
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E-Mail : |
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Factory 4: |
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DIRECTORS
|
Name : |
Mr.
Anant J. Talaulicar |
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Designation : |
Director |
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Name : |
Mr. Peter Delhey |
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Designation : |
Chairman |
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Name : |
Mr. Gerhard Steiger |
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Designation : |
Director |
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Name : |
Mr. Satish Sekhri |
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Designation : |
Managing Director |
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Name : |
Mr. Dhiraj Wali |
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Designation : |
Director |
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Name : |
Mr. Deepak Mahendra |
|
Designation : |
Director |
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Name : |
Mr. Sanjay S. Vaidya |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr.
Mandar Ratnaparkhi |
|
Designation : |
Company
Secretary |
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Audit Committee : |
Mr. Sanjay S. Vaidya, Chairman |
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|
Mr. Ferdinand Allerkamp |
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|
Mr. Wilfried Aulbur |
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|
Mr. Anant J Talaulicar |
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Shareholders' Grievance Committee : |
Mr. Wilfried Aulbur, Chairman |
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|
Mr. Satish Sekhri |
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|
Mr. Johannes Schaefer |
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|
Mr. Ferdinand Allerkamp |
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|
Name : |
Mr. Ravi Kapoor |
|
Designation : |
Executive Vice President and Chief
Financial Officer |
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Date of Birth/ Age : |
52 Years |
|
Qualification: |
B Tech, MMS |
|
Experience: |
28 Years |
|
Date of Appointment: |
01.09.2006 |
|
Other directorship: |
Piaggio Vehicles Private Limited (
Director (Finance)) |
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|
Name : |
Mr. Berg A |
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Designation : |
Vice President ( ABS and ESP) |
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Date of Birth/ Age : |
39 Years |
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Qualification: |
Diploma in Mathematics and Computer
Science ( |
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Experience: |
14 Years |
|
Date of Appointment: |
08.10.2007 |
|
Other directorship: |
Project Manager, Robert Bosch GmbH
Abstatt, Germaby ( 3 years) |
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|
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|
Name : |
Mr. Mahendra D S |
|
Designation : |
Executive Vice President (Chakan) |
|
Date of Birth/ Age : |
55 Years |
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Qualification: |
B Tech, |
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Experience: |
33 Years |
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Date of Appointment: |
01.01.1988 |
|
Other directorship: |
Manager (Materials) Bharat Forge Limited |
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|
Name : |
Mr. Matsumra K |
|
Designation : |
Technical Advisor |
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Date of Birth/ Age : |
55 Years |
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Qualification: |
B E ( Mechanical) |
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Experience: |
33 Years |
|
Date of Appointment: |
01.09.2006 |
|
Other directorship: |
Vice President (Quality) Robert Bosch
GmbH, |
|
|
|
|
Name : |
Mr. Mergenthaler R |
|
Designation : |
Integration Manager |
|
Date of Birth/ Age : |
60 Years |
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Qualification: |
Diploma Engineering, Gemany |
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Experience: |
36 Years |
|
Date of Appointment: |
15.06.2006 |
|
Other directorship: |
Vice President (Quality) Robert Bosch
GmbH, |
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|
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|
Name : |
Mr. Nanbjanath A R |
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Designation : |
Executivbe Vice President (Jalgaon) |
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Date of Birth/ Age : |
60 Years |
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Qualification: |
B.Tech, S.Sc (Engineering), |
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Experience: |
38 Years |
|
Date of Appointment: |
16.12.2002 |
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Other directorship: |
Vice President ( Manufacturing) Rane ( |
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|
Name : |
Mr. Pangarkar S N |
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Designation : |
Executive Vice President (New Project) |
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Date of Birth/ Age : |
59 Years |
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Qualification: |
B.E (Mechanical) M.Tech, M.B.A |
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Experience: |
35 Years |
|
Date of Appointment: |
05.04.1998 |
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Other directorship: |
General Manager, Hindustan Motors Limited |
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|
Name : |
Mr. Wagner A |
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Designation : |
Vice President (Testing and Engineering
New Project) |
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Date of Birth/ Age : |
45 Years |
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Qualification: |
Diploma in |
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Experience: |
22 Years |
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Date of Appointment: |
04.09.2006 |
|
Other directorship: |
Sales Manager and Project Leader, Robert
Bosch GmbH, |
SHAREHOLDING PATTERN
As on 31.12.2007
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Promoters |
16634094 |
79.99 |
|
Mutual Funds |
803328 |
3.86 |
|
Financial Institutions |
5830 |
0.03 |
|
FIIs (Foreign Mutual Funds) |
38212 |
0.18 |
|
Bodies Corporate |
824927 |
3.98 |
|
NRIs/OCBs |
42833 |
0.21 |
|
Indian Public |
2443776 |
11.75 |
|
Total |
20793000 |
100.00 |
As On 30.06.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
97.98 |
|
Bodies corporate |
0.09 |
|
Other top fifty shareholders |
0.36 |
|
Others |
1.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive
Brake Systems and Components. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit [30-60-90 days] |
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Purchasing : |
Cash and Credit [30-60-90 days] |
PRODUCTION STATUS
AS ON 31.03.2006
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Hydraulic, Air and Air over
Hydraulic brake component |
PCS
('000) |
22031 |
-- |
|
Hydraulic
Brake Components |
PCS
('000) |
|
|
|
a) Rear Brake Assembly |
PCS
('000) |
-- |
1382 |
|
b) Tandem Master Cylinder |
PCS
('000) |
-- |
1082 |
|
c) Front Caliper Assembly |
PCS
('000) |
-- |
1292 |
|
d) Rotors (Discs) |
PCS
('000) |
-- |
475 |
|
e)
Two Wheeler Brakes |
PCS
('000) |
-- |
320 |
|
Brake
Fluid |
Ltrs
('000) |
|
1064 |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
3500 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
statutory
auditors
Bansi S. Mehta and Company Chartered Accountants |
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|
|
|
Name : |
Lovelock and Lewes
Chartered Accountant |
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|
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|
Name : |
Internal Auditor Deloitte Haskins and Sells Chartered Accountant |
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Associates/Subsidiaries : |
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Joint
Ventures : |
|
CAPITAL STRUCTURE
As on 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs. 10/- each |
Rs.250.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20793000 |
Equity Shares |
Rs. 10/- each |
Rs.207.930
Millions |
|
|
|
|
|
Note:
(Of the above
shares, 10396500 shares (Previous year Nil) of Rs. 10 each are allotted as
fully paid bonus shares by capitalization of share premium)
(Of the above shares
Nil (Previous Year 3 300 854 ) Equity shares of Rs 10 each are held by the
ultimate holding company, Robert Bosch GmbH)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
207.930 |
207.930 |
207.930 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2911.630 |
2459.500 |
1694.105 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3119.560 |
2667.430 |
1902.035 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
397.990 |
411.420 |
425.109 |
|
|
TOTAL BORROWING |
397.990 |
411.420 |
425.109 |
|
|
DEFERRED TAX LIABILITIES |
142.720 |
31.940 |
38.472 |
|
|
|
|
|
|
|
|
TOTAL |
3660.270 |
3110.790 |
2365.616 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1844.430 |
1334.030 |
1098.875 |
|
|
Capital work-in-progress |
134.220 |
531.410 |
235.370 |
|
|
|
|
|
|
|
|
INVESTMENT |
560.070 |
755.440 |
499.663 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
579.980 |
642.910 |
477.170 |
|
|
Sundry Debtors |
814.050 |
701.660 |
1005.890 |
|
|
Cash & Bank Balances |
687.550 |
597.090 |
139.657 |
|
|
Other Current Assets |
25.370 |
15.820 |
10.321 |
|
|
Loans & Advances |
582.760 |
334.990 |
252.491 |
|
Total Current Assets |
2689.710 |
2292.470 |
1885.529 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1309.039 |
1530.772 |
|
|
|
Other Current Liabilities |
1426.260 |
1587.460 |
1105.327 |
|
|
Provisions |
141.900 |
215.100 |
248.494 |
|
Total Current Liabilities |
1568.160 |
1802.560 |
1353.821 |
|
|
Net Current Assets |
1121.550 |
489.910 |
531.708 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3660.270 |
3110.790 |
2365.616 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5923.200 |
5311.690 |
5306.760 |
|
|
|
Other Income |
318.990 |
310.600 |
234.000 |
|
|
|
TOTAL (A) |
6242.190 |
5622.290 |
5540.760 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in Stock |
(99.070) |
(33.900) |
(28.530) |
|
|
|
Raw Materials Consumed |
3895.210 |
3561.910 |
3301.230 |
|
|
|
Power & Fuel Cost |
136.460 |
120.700 |
118.330 |
|
|
|
Employee Cost |
520.790 |
467.170 |
437.850 |
|
|
|
Other Manufacturing Expenses |
443.280 |
383.180 |
445.920 |
|
|
|
General and Administration Expenses |
407.200 |
235.770 |
203.020 |
|
|
|
Selling and Distribution Expenses |
90.760 |
193.490 |
194.810 |
|
|
|
Miscellaneous Expenses |
25.970 |
28.600 |
18.910 |
|
|
|
Exceptional Income/ Expenses |
0.000 |
(630.370) |
0.000 |
|
|
|
TOTAL (B) |
5420.600 |
4326.550 |
4691.540 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
821.590 |
1295.740 |
849.220 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
7.360 |
6.420 |
8.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
814.230 |
1289.320 |
841.190 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
279.760 |
224.760 |
213.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
534.480 |
1064.560 |
628.190 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
82.340 |
299.170 |
212.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
452.140 |
765.390 |
415.940 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1966.650 |
1201.260 |
901.990 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2418.790 |
1966.650 |
1317.930 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
300.175 |
|
|
|
Other Earnings |
NA |
NA |
55.870 |
|
|
TOTAL EARNINGS |
NA |
NA |
356.045 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
368.624 |
|
|
|
Stores & Spares |
NA |
NA |
89.656 |
|
|
|
Capital Goods |
NA |
NA |
30.668 |
|
|
TOTAL IMPORTS |
NA |
NA |
488.948 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share (Rs.) |
21.74 |
36.81 |
20.00 |
|
|
Particulars |
|
|
31.12.2010 |
|
Sales Turnover |
|
|
8000.000 |
|
|
|
|
|
The above information has been parted by Mr. Jayant Bhujwal
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
7.24
|
13.61 |
7.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.02
|
20.04 |
11.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.79
|
29.36 |
21.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.40 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.63
|
0.83 |
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.27 |
1.39 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Actually incorporated as a private limited company in March 1982,
Kalyani Brakes (KBX) was later converted into public limited company in
Nov.'82. In Jan.'83, it tied up with Allied Signal, a Fortune-500 company to
manufacture air and air-over-hydraulic brake systems in Bambhori,
Kalyani Brakes (KBX), a JV company between Kalyani Group of
The Company is having a subsidiary, Precision Seals Manufacturing Limited, holding
a 60% equity which is dealing in Rubber and Backelite items for
Autombiles.
It came out of the red during 1986-87. It offered rights in May '93 (premium :
Rs 30) to part-finance the expansion of manufacturing facilities from 60,000
tpa to 1,00,000 tpa.
The company established a new state-of-the art manufacturing facility at
Chakan, Pune. This new plant supplies brakes to foreign car manufacturers like
Ford, GM and Hyundai, and was set up at a cost of Rs 370.000 Millions. It is a
state-of-the-art plant, based on the cell-concept of manufacturing.
The company has received the ISO 9000, ISO 9001 and the QS 9000 - the stringent
quality standards set by three major US automakers. With this and a little help
from its collaborators, NABCO and Bosch, KBX can hope to tap the foreign
markets in the event of a slowdown at home.
The technical collaboration agreement with Japan Brake Industrial Co,
The company has taken initiative for purchase of brake plant and equipment from
two leading international brake manufacturers. The company is also in for
purchase of business from Eligi, Comibatore for truck air brakes etc.
The company has increased the installed capacity of Hydraulic, Air and Air Over
Hydraulic Brake Components by 3251438 Nos during 2004-05 and with this
expansion the total installed capacity of Hydraulic, Air and Air Over Hydraulic
Brake Components has increased to 14899438 Nos.
During 2004-05 the manufacturing facility at Jalgaon Plant was totally revamped
from process to product type set up. A brand new facility was commissioned at
the existing site and this facility (J2 Plant) is based on cellular
manufacturing and it's operations are being run by highly skilled personnel.
Further the Aluminium Foundry at Jalgaon which supplies critical gravity die
castings to the plants at Pune and Jalgaon was expanded and modernized. A new
line automatic line was purchased that incorporates robotic pouring of the
liquid metal to ensure quality and consistency of castigs. The company has also
commissioned its facilities with new product lines of Randem Vacuum Boosters
and Twin Pot Calipers.
The name of the company was changed from Kalyani Brakes Limited to Bosch
Chassis Systems India Limited during January 2006.
During October 2005 the company has signed an agreement with Brembo SPA of
FINANCIAL RESULTS
During the year, the Company achieved a total income of Rs.6242 Millions
as compared to Rs.5622 Millions in the previous year, showing a growth of 11%.
RECOGNITION TO R AND D CENTRE AT CHAKAN BY
GOVERNMENT OF
In January 2010,
Government, of
This recognition,
valid upto March 31, 2012, will entitle the Company to avail of import
facilities pursuant to the Import policy in force, during the period of
recognition. Further, after obtaining this recognition, the Company is eligible
for additional tax benefits.
ABS MANUFACTURING FACILITY AT CHAKAN
During the year,
the Company commenced commercial production of ABS systems. This advanced
technology product is well received by various OEMs. Sales volumes are steadily
increasing and many new orders are under negotiation.
DIRECTORS
- Mr. Anant Talaualicar,
a Director, resigned from the Board w.e.f. July 6, 2009. The Board placed on
record its deep appreciation of the valuable contributions made by Mr.
Talaulicar to the growth of the Company during his tenure as Director.
- Mr. Peter
Delhey, Director and Chairman, resigned from the Board w.e.f. December 22,
2009. The Board placed on record its deep appreciation of the valuable
contributions made by Mr. Delhey to the growth of the Company during his tenure
as Director and Chairman.
With effect from
December 22, 2009, Mr. Gerhard Steiger was appointed as Director and Chairman
of the Company in place of Mr. Delhey. Mr. Steigers brief resume is given
below.
- Mr. Satish
Sekhri retired from the services of the Company as Managing Director and thus
ceased to be a Director of the Company w.e.f. March 31, 2010. The Board placed
on record its deep appreciation of the role played by Mr. Sekhri in steering
the growth and development of the Company.
With effect from
April 1, 2010, Mr. Dhiraj Wali was appointed as a Managing Director of the
Company in place of Mr. Satish Sekhri.
Mr. Dhiraj Wali
holds an Engineering Degree (1985) from
- With effect from
April 1, 2010, Mr. Deepak Mahendra was appointed as Joint Managing Director of
the Company.
Mr. Deepak
Mahendra is B.Tech (Mechanical) from NT, Mumbai (1976). He has around 34 years
of work experience. He is well acquainted with the Company’s Customers,
Vendors, Collaborators and Employees.
Since 1996, Mr. Mahendra was working as Executive Vice President of the
Company. He is also the Executive Director of Precision Seals Mfg. Limited, a
subsidiary of the Company.
- In accordance
with the provisions of the Companies Act, 1956 and the Articles of Association
of the Company, Mr. Gerhard Steiger and Mr. Sanjay Vaidya, Directors of the
Company retire by rotation and being eligible, offer themselves for
re-appointment.
Mr. Steiger, 51,
completed his graduation in National Economy in 1985 from the University of
Freiburg, Germany. He has been associated with Bosch group since 1987.
Currently he is the President of Chassis Systems Brakes, Robert Bosch GmbH,
Mr. Sanjay Vaidya
is a Chartered Accountant and Graduate in Cost and Works Accounts. He has been
a member of the Board since March 2002. Mr. Vaidya holds office as Director
upto the date of the ensuing Annual General Meeting to be held on June 30,
2010. The Company has received notice under Section 257 of the Companies Act,
1956, proposing his appointment as Director, liable to retire by rotation.
TRADE REFERENCES:
· Tulsi Casting and Machining Limited, Mumbai
FIXED ASSETS:
·
·
·
Building
·
·
Plant and Machinery
·
Furniture
·
Vehicles
WEBSITE DETAILS:
PROFILE:
Established in 1982, RBIC is a subsidiary of the Bosch Group
in
RBIC business areas include actuation, foundation and modulation of the Braking
System. The company manufactures world-class Hydraulic Brake Systems to comply
with the stringent requirements of the leading OEMs in the automobile industry.
As a manufacturer of brakes for 2- Wheelers, 3-wheelers, Passenger Cars,
Utility Vehicles, Light Commercial Vehicles and Agriculture Tractors.
RBIC uses its system engineering capabilities to suggest the right kind of
brake system for the OEMs.
Corporate office is located at Pune, and the state-of-the-art manufacturing
plants at Chakan (near Pune), Jalgaon and Manesar (near
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.45.21 |
|
|
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
65 |
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.