MIRA INFORM REPORT
|
Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
HYUNDAI MOTOR INDIA LIMITED |
|
|
|
|
Registered Office : |
Plot No. H-1, |
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Country : |
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|
|
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Financials (as on) : |
31.03.2010 |
|
|
|
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Date of Incorporation : |
06.05.1996 |
|
|
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Com. Reg. No.: |
18-035377 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.8125.411 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U29309TN1996PLC035377 |
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|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
CHEH02069E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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|
|
|
Line of Business : |
Manufacturing of Motor Cars, Parts and Accessories. |
|
|
|
|
No. of Employees : |
3600 (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 |
|
Maximum Credit Limit : |
USD 130000000 |
|
|
|
|
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 in the automobile field in Financial position of the company appears to be sound. Directors are
reported to be experienced and respectable businessman. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. H-1, SIPCOT Industrial Park, Irrungattukottai, Sriperumpudur Taluk,
Kanchipuram District – 602105, Tamilnadu, India |
|
Tel. No.: |
91-4111-256111/ 256275 91-44-47100000 |
|
Fax No.: |
91-4111-256280/ 256365 91-44-47100100 / 47105135 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Rented |
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|
|
|
Corporate Office / Regional Office 1 : |
NP 54, Developed Plots, Thiru Vika Industrial Estate, Ekkaduthangal,
Guindy, Chennai – 600 032, |
|
Tel. No.: |
91-44-22329560 / 22340174/ 2233471/ 22343763/ 22343765 / 22343856 |
|
Fax No.: |
91-44-22334924 |
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|
|
|
Administrative Offices: |
39, |
|
Tel. No.: |
91-44-24990013/ 24990531/ 24990678/ 24991938 |
|
Fax No.: |
91-44-24994355/ 24997164 |
|
|
|
|
Regional Office 2 : |
Hyundai Motor India Engineering Private Limited, Survey No- 5/2 and
5/3, Opposite Hi-Tech City Railway Station, Ijjatnagar, RR District – 500
084, |
|
Tel. No.: |
91-40-66574020 |
|
Fax No.: |
91-40-66574099 |
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|
|
|
Regional Office 3 : |
A-30, Mohan Cooperative Industrial Estate, Mathura-Road, New-Delhi-110
044, |
|
Tel. No.: |
91-11-41678800 |
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Fax No.: |
91-11-41678811 |
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|
|
|
Regional Office 4 : |
605, 20-A, Rattan Square Complex, Vidhan Sabha Marg, Lucknow- 226001,
Uttar Pradesh, India |
|
Tel. No.: |
91- 522- 6714600 |
|
Fax No.: |
91-522- 6714611 |
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|
|
|
Regional Office 5 : |
Business Square,A/102, First Floor, Chakala,Andheri-Kurla Road, Andheri
East Mumbai-400069, Maharashtra, India |
|
Tel. No.: |
91-22- 40969000 |
|
Fax No.: |
91-22- 40969030 |
|
|
|
|
Regional Office 6 : |
1st Floor, City Mall, Near Rajpath Club, S.G.Road, Dodekdev, Ahemdabad
– 380051, |
|
Tel. No.: |
91-79-66133000 |
|
Fax No.: |
91-179-6633017 |
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|
|
|
Regional Office 7 : |
Gayathri 6-3-1239/2/B/1, Renuka Wnclave, Somajiguda, |
|
Tel. No.: |
91- 40- 64631130 / 31 / 32 / 43 |
|
Fax No.: |
91-40- 23303566 |
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|
|
|
Regional Office 8 : |
DLF Tower-3, 3RD Floor, |
|
Tel. No.: |
91-172- 6605000 |
|
Fax No.: |
91-172- 6605000 |
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|
|
|
Regional Office 9 : |
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|
Tel. No.: |
91-33-40060045 / 9 |
|
Fax No.: |
91-33-40060050 |
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E-Mail : |
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Regional Office 10 : |
Ganpati Enclave, 3rd Floor, Urubari, |
|
Tel. No.: |
91-361- 2466173 / 74 |
|
Fax No.: |
91-361- 2466175 |
|
E-Mail : |
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Marketing and
Sales Headquarters : |
Corporate One ( |
|
Tel No.: |
Board Line 91-11-66022000 |
|
Fax No.: |
(5th Floor) 91-11-66022201 (6th Floor) 91-11-66022202 |
|
|
|
|
Other Contact Details : |
1800-11-4645
(Toll Free - Only from MTNL and BSNL numbers) 098-7356-4645
(For all GSM Connections / Landline other than MTNL and BSNL numbers) |
DIRECTORS
As on 25.07.2011
|
Name : |
Mr. Han Woo Park |
|
Designation : |
Managing Director |
|
Address : |
Old No.42, New No.73, |
|
Date of Birth/Age : |
29.01.1958 |
|
Date of Appointment : |
23.04.2003 |
|
DIN No.: |
00062234 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29309TN1996PLC035377 |
Hyundai Motor
India Limited |
Managing
director |
01-01-11 |
23-04-03 |
- |
Active |
NO |
|
2 |
U50103AP2006PTC073037 |
Hyundai Motor India
Engineering Private Limited |
Director |
20-11-06 |
20-11-06 |
- |
Active |
NO |
|
Name : |
Mr. Young Sook Roh |
|
Designation : |
Director |
|
Address : |
Plot No. 48, Jayabheri, Meadows, Gopanna Village, Serilingam, Pally, Gachi,
Bowli, Hyderabad-500019, Andhra Pradesh, India |
|
Date of Birth/Age : |
23.04.1955 |
|
Date of Appointment : |
06.10.2009 |
|
DIN No.: |
02645752 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U50103AP2006PTC073037 |
Hyundai Motor
India Engineering Private Limited |
Managing
director |
01-06-09 |
01-06-09 |
- |
Active |
NO |
|
2 |
U29309TN1996PLC035377 |
Hyundai Motor
India Limited |
Director |
26-07-10 |
06-10-09 |
- |
Active |
NO |
|
Name : |
Mr. Unsu Kim |
|
Designation : |
Whole Time Director |
|
Address : |
Old No. 42, New No. 73, Chamiers, Chennai-600018, |
|
Date of Birth/Age : |
15.08.1963 |
|
Date of Appointment : |
04.01.2010 |
|
DIN No.: |
02968803 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29309TN1996PLC035377 |
Hyundai Motor
India Limited |
Whole-time
director |
01-01-11 |
04-01-10 |
- |
Active |
NO |
|
2 |
U50103AP2006PTC073037 |
Hyundai Motor
India Engineering Private Limited |
Director |
18-02-10 |
18-02-10 |
- |
Active |
NO |
|
Name : |
Mr. Bo Shin Seo |
|
Designation : |
Whole Time Director |
|
Address : |
New No. 73, Old No. 42, |
|
Date of Birth/Age : |
10.01.1957 |
|
Date of Appointment : |
23.11.2009 |
|
DIN No.: |
02879712 |
|
Name : |
Mr. Arvind Kumar Saxena |
|
Designation : |
Whole Time Director |
|
Address : |
1504, Tower 2, Thepalms South City-1, Gurgaon-122001, |
|
Date of Birth/Age : |
28.09.1959 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02910083 |
|
Name : |
Mr. Won Hee Lee |
|
Designation : |
Director |
|
Address : |
101-807, Dawonkantabila Apartments, 2/5, 659, Sinsadong Gangnam- Ku, |
|
Date of Birth/Age : |
05.02.1960 |
|
Date of Appointment : |
31.03.2010 |
|
DIN No.: |
02985723 |
KEY EXECUTIVES
|
Name : |
Ms. Jayashree S Iyer |
|
Designation : |
Secretary |
|
Address : |
19-A, |
|
Date of Birth/Age : |
25.05.1965 |
|
Date of Appointment : |
05.04.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Hyundai Motor Company, |
|
8125405 |
|
Mong Koo Chung |
|
1 |
|
Han Woo Park |
|
1 |
|
Young Key Koo |
|
1 |
|
Bo Shin Seo |
|
1 |
|
Seong Hyun Hur |
|
1 |
|
Young Sook Roh |
|
1 |
|
|
|
|
|
Total |
|
8125411 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign
Financial Institutions, Non-resident Indian or Overseas corporate bodies or
others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Motor Cars, Parts and Accessories. |
||||||||
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Products : |
|
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|
|
||||||||
|
Brand Names : |
‘SANTRO’ |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity* |
Actual
Production |
|
|
|
|
|
|
|
Motor Vehicles |
Nos. |
Not Applicable |
630000 |
589535 |
* As certified by the Management and relied upon
by the Auditors. The installed capacity is subject to product mix, utilization
of plant and machinery, which is common for different models, and availing of
sub-contracting facilities.
GENERAL INFORMATION
|
No. of Employees : |
3600 (Approximately) |
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Bankers : |
|
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|
Facilities : |
Note :
As on 31.03.2010 : Rs.1503.460 Millions As on 31.03.2009 : Rs.20276.840 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institute: |
State Industries Promotion Corporation of Tamilnadu Limited, 19-A,
Marshalls Road, Egmore-600008, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASV N Ramana Tower 52, |
|
Tel
No.: |
91-44-66885000/ 42131124-28 |
|
Fax
No.: |
91-44-66885050/ 42131129 |
|
PAN
: |
AACFD3771D |
|
|
|
|
Group Companies: |
|
|
|
|
|
Holding Company : |
140-2, Key Dong, Chongro-Ku, |
|
|
|
|
Subsidiaries : |
CIN No.: U50103TN2006PTC061464 Authorized Capital: Rs.900.000 Millions Paid Up Capital: Rs.631.610 Millions |
CAPITAL STRUCTURE
As on 31.03.2010
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.1000/- each |
Rs.14000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8125411 |
Equity Shares |
Rs.1000/- each |
Rs.8125.411 millions |
|
|
|
|
|
NOTE:
The entire paid-up share capital of the
company is held by Hyundai Motor Company South Korea (HMC) the Company holding
Company and Its Nominees.
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 |
8125.411 |
8125.411 |
8125.411 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24725.410 |
22391.361 |
22198.463 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32850.821 |
30516.772 |
30323.874 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
22201.736 |
42229.209 |
31047.189 |
|
|
TOTAL BORROWING |
22201.736 |
42229.209 |
31047.189 |
|
|
DEFERRED TAX LIABILITIES |
2188.782 |
2850.348 |
2435.101 |
|
|
|
|
|
|
|
|
TOTAL |
57241.339 |
75596.329 |
63806.164 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40632.365 |
47163.568 |
34404.957 |
|
|
Capital work-in-progress |
794.235 |
1721.060 |
12411.704 |
|
|
|
|
|
|
|
|
INVESTMENT |
1370.000 |
1349.596 |
631.610 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12646.556
|
21264.675
|
15322.397
|
|
|
Sundry Debtors |
20618.115
|
19150.406
|
8459.090
|
|
|
Cash & Bank Balances |
4514.237
|
5619.412
|
6615.965
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
11793.923
|
11413.138
|
8597.543
|
|
Total
Current Assets |
49572.831
|
57447.631
|
38994.995
|
|
|
Less : CURRENT LIABILITIES
& PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
28360.310
|
|
20906.776
|
|
|
Other Current Liabilities |
2312.305
|
1660.871
|
|
|
|
Provisions |
4455.477
|
3871.205
|
1730.326
|
|
Total
Current Liabilities |
35128.092
|
32085.526
|
22637.102
|
|
|
Net Current Assets |
14444.739
|
25362.105
|
16357.893
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
57241.339 |
75596.329 |
63806.164 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
196225.440 |
155225.420 |
101188.647 |
|
|
|
Other Income |
6468.230 |
5735.110 |
3973.820 |
|
|
|
TOTAL (A) |
202693.670 |
160960.530 |
105162.467 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
188566.050 |
148893.340 |
96402.450 |
|
|
|
Exceptional Item |
0.000 |
0.000 |
[3803.353] |
|
|
|
TOTAL (B) |
188566.050 |
148893.340 |
92599.097 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14127.620 |
12067.190 |
12563.370 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
967.870 |
2265.080 |
758.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13159.750 |
9802.110 |
11804.510 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7529.020 |
6745.350 |
4611.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5630.730 |
3056.760 |
7193.490 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1875.440 |
1100.410 |
2052.340 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3755.290 |
1956.350 |
5141.150 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
22007.040 |
21574.460 |
16468.220 |
|
|
|
|
|
|
|
|
|
Less |
Adjustment on account of application of Accounting Standard 15
(Reviewed) |
0.000 |
0.000 |
[34.910] |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
187.760 |
97.820 |
-- |
|
|
|
Proposed Dividend |
1218.810 |
1218.810 |
-- |
|
|
|
Tax on Proposed Dividend |
202.430 |
207.140 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
24153.330 |
22007.040 |
21574.460 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
FOB Value of Exports |
95042.120 |
82235.390 |
36680.200 |
|
|
|
Interest Income |
447.800 |
329.370 |
104.950 |
|
|
|
Recovery of Freight and Insurance on Exports |
6044.790 |
5818.500 |
2618.760 |
|
|
|
Income form Services |
137.63. |
167.100 |
183.060 |
|
|
|
Others |
29.420 |
40.900 |
0.000 |
|
|
|
TOTAL EARNINGS |
101701.76 |
88591.26 |
39586.97 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Capital Goods |
908.470 |
4669.990 |
9027.110 |
|
|
|
Raw Materials |
29772.150 |
31963.230 |
24219.640 |
|
|
|
Traded Finished Goods |
0.000 |
7.460 |
129.570 |
|
|
|
Spares Parts and others for sales |
0.000 |
0.000 |
22.190 |
|
|
|
TOTAL IMPORTS |
30680.62 |
36640.68 |
33398.51 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
462.17 |
240.77 |
271 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.85
|
1.22
|
4.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.87
|
1.97
|
7.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.24
|
2.92
|
9.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.10
|
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.75
|
2.44
|
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.79
|
1.72 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT
LIABILITIES
a.
Bills drawn on Customers and discounted with Banks
as at 31st March 2010- Rs.363.960 Millions (As at 31st
March 2009- Nil)
b.
Claims against the company Not Acknowledged as
debts
|
Particulars |
31.03.2010 |
|
i) Claims duty (Paid Rs. 12.990 Millions under
protest) |
12.990 |
|
ii) Excise Duty and Service Tax |
98.880 |
|
iii) Entry Tax (Paid Rs. 0.400 Millions
under protest) |
65.660 |
|
iv) Income Tax (Paid Rs.34.030 Millions
under protest) |
89.420 |
|
v) Others |
123.460 |
|
vi)Decided in favour of the company
against which department has gone on appeal |
|
|
- Customs |
29.330 |
|
- Income Tax |
32.770 |
c. During the year ended 31 March 2010, the Company
has received from the Income Tax Authorities a Draft Assessment Order for the
Assessment Year 2006-07 under Section 144C of the Income Tax Act, 1961. The
Company has filed a Statement of Objections with the Dispute Resolution Panel
(DRP). The differential tax claim of Rs. 366.58 Millions (tax payable amount of
Rs.3549.310 Millions less provision already created of Rs.3182.730 Millions)
and interest of Rs.193.530 Millions as per the Draft Assessment Order are
disclosed as Contingent Liabilities, pending disposal of the same by the DRP.
d. The assessments under the Central Excise
Act, 1944 have been completed on a provisional basis in respect of certain
years for some transactions. The differential liability, if any, arising on
account of the final assessments is not ascertainable and the same will be
dealt with appropriately as and when determined.
e. The Company had received a letter from
the Regional Office (Tamilnadu), Employees State Insurance (ESI) Corporation,
Chennai dated 23 June 2006 stating that the provisions of the ESI Act, 1948
will be applicable to the Company with effect from 1 September 2005 vide
Notification No. S-38013/48/2005 SSI dated 17 August 2005 issued by the Central
Government. The Company received a notice from the Regional Office (Tamilnadu),
Employees State Insurance (ESI) Corporation, Chennai dated 25 January 2008 as
per which the Company was provisionally asked to pay Rs.7.130 Millions towards
ESI Contribution for the period September 2005 to November 2007, which was remitted
by the Company on 22 February 2008. Final remittance will be made as and when
it is determined I demanded by the ESI Corporation.
i. The amounts shown above represent the
best possible estimates arrived at on the basis of the available information.
The uncertainties and possible reimbursement are dependent on the outcome of
the various legal proceedings which have been initiated by the Company or the
Claimants, as the case may be and, therefore, cannot be predicted accurately.
ii. According to the Company, Show Cause
Notices received from various Government Agencies pending formal demand notices
are not considered as Contingent Liabilities.
iii. The Company expects a favourable
decision with respect to all the above disputed demands / claims based on professional
advice and, hence, no specific provision for the same has been made.
OPERATIONS
Indian economy
grew at 7.4% during 2009-10 showing signs of recovery after the global economic
down turn witnessed during the year 2008-09. During the Financial Year 2009-10,
automotive sector in
During the year
2009-10, the total production was at 589,536 units as against 502,268 units in
2008-09.This
represents an increase of 17% over 2008-09.
During the year
2009-10 the Company sold 602,261 units as against 495,601 units in 2008-09
registering a
growth of 22%.
In the domestic
market, the sales volume has gone up to 316,623 units from 242,540 units in
2008-09 due to the success of ‘i10’ and ‘i20’.This represents an increase of
31% over 2008-09
which is much
above industry average.
In the export
market the Company has sold 285,638 units during the Financial Year as against
253,061 units last year, an increase of 12.8%.The increase has been mainly from
Europe and Asian markets .During the year, few more countries like Australia
and Barbados are added and
the Company’s
products are currently exported to over 110 countries compared to 100 countries
during last year. They are happy to inform that around 65% of the export sales
were made to ‘High Quality Conscious’ European market.
The Company
achieved a turnover of Rs.207719.000 Millions as against Rs.165994.560 million
during 2008-09.The domestic turnover was Rs.111429.900 million as against
Rs.83309.330 million during last year. The Export turnover was Rs.96289.100
million as against Rs.82685.230 million during last year.
The Company has
launched 1.4 litre diesel and 1.4 litre petrol Automatic variant of its premium
hatchback,’i20’, in addition to introducing Accent LPG variant and facelift
Santro for domestic market. The Company has crossed the milestone of 2.5
million cars production and sales. Sales in the export market crossed one
millionth mark.
ACHIEVEMENTS AND AWARDS
During the
Financial Year the Company has won the following awards:-
- Viewer’s Choice Award’ at the Overdrive
CNBC TV 18 Awards 2010 for i20
- Design of the year’ award at the NDTV
Profit Car and Bike Awards 2010 for i20
- i20 has also been awarded the highest 'Five
Star Rating' for Safety by European New Car Assessment Programme (NCAP).
The i20 five-door model scored exceptionally well on all four parameters
of the NCAP safety test which assess newly launched cars on four main
criteria of safety - adult occupancy, child protection, pedestrian
protection and safety assist.
- Reader’s Digest Trusted Brands Gold
Award’ for the ‘Car’ category, in
- Award for
‘Customer service’ at the ‘Apollo Auto India Best Brand Awards 2010’
FORM
8
|
Corporate identity number of the company |
U29309TN1996PLC035377 |
|
Name of the company |
HYUNDAI MOTOR INDIA LIMITED |
|
Address of the registered office or of the principal place of business in |
Plot No. H-1, E-Mail : legal@hmil.net |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
State Industries Promotion Corporation Of Tamilnadu Limited 19-A , E-Mail : sipcot@md3.vsnl.net.in
|
|
Nature of instrument creating charge |
Exclusive Hypothecation charge on the machinery and equipment viz.,
5400 tonne press (Asset No.32300469) and Feeding Automation Equipment (Asset
No.32300474) installed at Plot No.H-1, Phase-II, Press Shop, SIPCOT Industrial
Park, Irungattukottai, Sriperumbudur Taluk, Kancheepuram District-602 117 in
the State of Tamil Nadu in favour of SIPCOT to secure the repayment of the
Soft Loan not exceeding Rs.1000.000 Millions. |
|
Date of instrument Creating the charge |
29.06.2010 |
|
Amount secured by the charge |
Rs.1000.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest 0.1% P.A. Terms of repayment Repayment of Soft Loan to commence after 14 years with 0.1% interest
per annum as per Super Mega Norms Extent and operation of the charge To the extent of loan outstanding alongwith interest at the time of
default if any. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Machinery and Equipment - 5400 tonne press (Asset No.32300469)
installed at Plot No.H-1, Phase-II, Press Shop SIPCOT Industrial
Park,Irungattukottai, Sriperumbudur Taluk, Kancheepuram District-602117,
Tamilnadu, India Machinery and Equipment - Feeding Automation Equipment (Asset
No.32300474 installed at Plot No.H-1, Phase-II, Press Shop SIPCOT Industrial
Park, Irungattukottai, Sriperumbudur Taluk, Kancheepuram District-602117,
Tamilnadu, India |
FIXED ASSETS:
- Building
- Plant and
Machinery
- Furniture and
Fittings
- Computer Equipments
- Office Equipments
- Furniture and Fixtures
- Data
Processing Equipment
- Vehicles
AS PER WEBSITE
DETAILS
PROFILE
Subject is a wholly owned subsidiary of Hyundai Motor Company,
Subject continuing its tradition of being the fastest growing passenger car
manufacturer, registered total sales of 559,880 vehicles in the calendar year
(CY) 2009, an increase of 14.4 percent over CY 2008. In the domestic market it
clocked a growth of 18.1 percent as compared to 2008 with 289,863 units, while
overseas sales grew by 10.7 percent, with export of 270,017 units. HMIL
currently exports cars to more than 110 countries across EU, Africa, Middle
East, Latin America and
Subject is fully integrated state-of-the-art manufacturing plant near Chennai
boasts of the most advanced production, quality and testing capabilities in the
country. In continuation of its commitment to provide the Indian customer with
global technology, HMIL commissioned its second plant in February 2008 which
produces an additional 300,000 units per annum, raising subject total
production capacity to 600,000 units per annum.
Subject has invested to expand capacity in line with its positioning as HMC's
global export hub for compact cars. Apart from the expansion of production
capacity, subject currently has 286 strong dealer network and 540 strong
service points across
In December 2008, HMIL launched the much awaited premium compact the i20 after
it had a global preview at the Paris Motor Show in October, 2008. In 2009,
subject also launched the new facelift Sonata Transform and the new Verna which
are vastly improved models compared to the outgoing models. In March, 2009
Hyundai i10 clocked the fastest 3 lakh sales since its launch in October, 2007.
HMIL also became the only car manufacturer to introduce Automatic transmission
across segments with the launch of the i20 1.4 Litre Petrol Automatic. The i20
also simultaneously got a powerful 1.4 Litre CRDi engine in July 2009. The i20
achieved the highest safety rating by the European NCAP. In September 2009,
HMIL introduced the new refurbished Santro with luxurious interiors and
improved exterior features. The Santro has been the highest selling model for
Hyundai with more than 15 Lakhs units sold since its launch in
Subject remains one of the fastest growing car manufacturers in the
country. The company’s overall performance in the automobile sector was
recognized by the media as it was awarded with the prestigious ‘Manufacturer of
the Year’ award by both UTVi Autocar Car and NDTV Profit-Car and Bike in 2009
About HMC
Established
in 1967, Hyundai Motor Co. has grown into the Hyundai-Kia Automotive Group
which was ranked as the world’s fifth-largest automaker in 2007 and includes
over two dozen auto-related subsidiaries and affiliates. Employing over 75,000
people worldwide, Hyundai Motor posted sales of US$74.9 billion in 2007 on a
consolidated-basis and US$32.8 billion on a non-consolidated basis (using the
average currency exchange of 929 won per US dollar). Hyundai vehicles are sold
in 193 countries through some 6,000 dealerships and showrooms.
PRESS RELEASES:
Hyundai opens
‘EON’ bookings
‘EON’ – means eternity. The car will be manufactured in
The EON will bear Hyundai’s latest design philosophy of ‘Fluidic
Sculpture’. EON has design elements and features that have been
specifically developed for Indian conditions. The car is targeted at first time
buyers who want to buy a spacious and stylish car that is high on fuel economy.
Hyundai Motor Company (HMC),
Mr. H W Park, MD and CEO, HMIL said, “Hyundai is committed to offer
products with advanced technology to the Indian market. All our products
confirm to global quality standards. We are confident that the EON will set a
new benchmark in the Indian market with regard to styling, performance, safety
and convenience. The car will provide the best-in-class design, quality and
technology to our customers.”
“Hyundai understands the needs of the Indian customer, successful
products as the Santro, i10, i20 and the new Fluidic Verna are perfect
examples”, he further added.
The car has been designed at Hyundai’s Namyang RandD centre located in
the
HMC, HMIL and the R and D centre at
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 exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.07 |
|
|
1 |
Rs.77.42 |
|
Euro |
1 |
Rs.67.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.