1. Summary Information
|
|
|
Country |
|
|
Company Name |
SHARDA MOTOR INDUSTRIES LIMITED |
Principal Name 1 |
Mr. N D Relan |
|
Status |
Good |
Principal Name 2 |
Mr. Ajay
Relan |
|
|
|
Registration # |
55-023202 |
|
Street Address |
D-188, Okhla Industries Area, Phase-1, |
||
|
Established Date |
29.01.1986 |
SIC Code |
-- |
|
Telephone# |
91-11-47334100 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-26811676 |
Business Style 2 |
Supplier |
|
Homepage |
Product Name 1 |
Independent Front Suspensions |
|
|
# of employees |
-- |
Product Name 2 |
Canopies |
|
Paid up capital |
Rs. 59,463,000/- |
Product Name 3 |
Seat Covers |
|
Shareholders |
Directors or
relatives of Directors - 80.91% Bodies corporate 1.94% Other top fifty shareholders -
13.27% Others - 3.88% |
Banking |
Punjab National
Bank |
|
Public Limited Corp. |
YES |
Business Period |
25 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
A
(60) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
|
Progressive Engineering and Automation Private Limited (PEAPL) |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,151,263,000 |
Current Liabilities |
941,696,000 |
|
Inventories |
389,829,000 |
Long-term Liabilities |
963,124,000 |
|
Fixed Assets |
1,103,230,000 |
Other Liabilities |
65,490,000 |
|
Deferred Assets |
-- |
Total Liabilities |
1,970,310,000 |
|
Invest& other Assets |
440,735,000 |
Retained Earnings |
1,055,284,000 |
|
|
|
Net Worth |
1,114,747,000 |
|
Total Assets |
3,085,057,000 |
Total Liab. & Equity |
3,085,057,000 |
|
Total Assets (Previous Year) |
2,977,800,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
4,661,967,000 |
Net Profit |
211,561,000 |
|
Sales(Previous yr) |
3,397,658,000 |
Net Profit(Prev.yr) |
76,950,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHARDA MOTOR INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
D-188, Okhla Industries Area, Phase-1, New Delhi – 110020, Delhi |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
29.01.1986 |
|
|
|
|
Com. Reg. No.: |
55-023202 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.59.463 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
L74899DL1986PLC023202 |
|
|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
DELS03725B |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The company shares are listed on the
Stock Exchange. |
|
|
|
|
Line of Business : |
Manufacturer and Supplier
of Components to automotive and White Goods. |
|
|
|
|
No. of Employees : |
Not Available. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 4460000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. 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 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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
D-188, Okhla Industries Area, Phase-1, |
|
Tel. No.: |
91-11-47334100 |
|
Mobile No. : |
91-9910102984 (Mr.
Udayan Banerjee) |
|
Fax No.: |
91-11-26811676 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
v
Plot
No.4, Sector 31, Kasna Industrial Area, Greater Noida, Tel. No: 91-120-2341258/9 Fax No: 91-120-2341257 Email: smilkorin@shardamotor.com v
Plot
No. 558-559, Surajpur Bypass Industrial Area, Greater Noida, v
Exhaust
System Division: G-20, Irrungattukottai, Sriperumbudur – 602105, Tel.No: 91-411-256092/95 Email: smilchennai@shardamotor.com v
Exhaust
and Suspension Division: Plot No. 112, M.I.D.C. Satpur, Near Mahindra and Mahindra
Plant, Nashik, Tel. No: 91-253-2364451/2364452/2364453 Email: smilnsk@shardamotor.com v
Plot
No. 276, Udyog Vihar, Phase – VI, Gurgaon, |
|
|
|
|
Working Units : |
|
DIRECTORS
As on : 18.08.2010
|
Name : |
Mr. Narinder Dev Relan |
|
Designation : |
Chairman |
|
Address : |
S-233, Panchshila Park, New
Delhi-110017, Delhi, India |
|
Date of Birth/Age : |
31.05.1929 |
|
Date of Appointment : |
29 .08.1986 |
|
|
|
|
Name : |
Mr. Ajay
Relan |
|
Designation : |
Managing Director |
|
Address : |
S-233, Panchshila Park, New
Delhi-110017, Delhi, India |
|
Date of Birth/Age : |
03.12.1961 |
|
Date of Appointment : |
29.011986 |
|
|
|
|
Name : |
Mr. Sharda Relan |
|
Designation : |
Director |
|
Address : |
S-233, Panchshila Park, New
Delhi-110017, Delhi, India |
|
Date of Birth/Age : |
11.08.1935 |
|
Date of Appointment : |
29.01.1986 |
|
|
|
|
Name : |
Mr. Rohit Relan |
|
Designation : |
Director |
|
Address : |
S-233, Panchshila Park, New
Delhi-110017, Delhi, India |
|
Date of Birth/Age : |
02.07.1955 |
|
Date of Appointment : |
25 .05.1991 |
|
|
|
|
Name : |
Mr. R P Chowdhry |
|
Designation : |
Director |
|
Address : |
10, Anand Lok, New Delhi-110049,
Delhi, India |
|
Date of Birth/Age : |
11.05.1925 |
|
Date of Appointment : |
29.08.1986 |
|
|
|
|
Name : |
Mr. G L Tandon |
|
Designation : |
Additional Director |
|
Address : |
B-7/111 A, (F F), Extension,
Safdar Jung Enclave, New Delhi-110029 |
|
Date of Birth : |
09.11.1930 |
|
Date of Appointment : |
16.12.2005 |
|
|
|
|
Name : |
Mr. O P
Khaitan |
|
Designation : |
Additional Director |
|
Address : |
N-12, Panchsheel Park, New
Delhi-110017, Delhi, India |
|
Date of Birth : |
21.11.1943 |
|
Date of Appointment : |
16.12.2005 |
|
|
|
|
Name : |
Mr. Kishan N Parikh |
|
Designation : |
Additional Director |
|
Address : |
Panchsheel, No. II, Inner Circle
Road, Contractors' Area, Jamshedpur-831001 |
|
Date of Birth : |
15.04.1967 |
|
Date of Appointment : |
16.12.2005 |
|
|
|
|
Name : |
Mr. Bhattacharya Kumar Ashok |
|
Designation : |
Director |
|
Address : |
46 Wake Green Road, Moseley, Birmingham, B139PF |
|
Date of Birth/Age : |
14.02.1946 |
|
Date of Appointment : |
28.10.2009 |
|
|
|
|
Name : |
Mr. Vishnoi Nitin |
|
Designation : |
Company Secretary |
|
Address : |
13/91, Raj Nagar, Gaziabad, Utter Pradesh, India |
|
Date of Birth/Age : |
18.01.1970 |
|
Date of Appointment : |
01.07.2002 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. Nitin Vishnoi |
|
Designation : |
Company Secretary |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 18.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sharda Relan |
|
634400 |
|
Ajay Relan |
|
600600 |
|
Ritu Relan |
|
474000 |
|
Mala Relan |
|
470200 |
|
Narinder dev Relan |
|
452400 |
|
Aashim Relan |
|
291200 |
|
Rohit Relan |
|
158400 |
|
Rishab Relan |
|
148800 |
|
Rohit Relan |
|
141000 |
|
Ritu Relan |
|
136400 |
|
Pranav Relan |
|
126200 |
|
Ajay Relan |
|
108120 |
|
Sharda Relan |
|
108120 |
|
Ritu Relan |
|
108120 |
|
Ayush Relan |
|
104000 |
|
Mala Relan |
|
101060 |
|
Ajay Relan |
|
100100 |
|
Rohit Relan |
|
100000 |
|
Indra Chowdhary |
|
90000 |
|
Vinod Kantilal Shah |
|
80000 |
As on : 18.08.2010
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
1.94 |
|
Directors or relatives of Directors |
80.91 |
|
Other top fifty shareholders |
13.27 |
|
Others |
3.88 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
Supply of Components to automotive and White Goods. |
|
|
|
|
Products : |
v
Exhaust
Systems v
Catalytic
Converters (for four wheelers) v
Independent
Front Suspensions v
Canopies v
Seat
Covers v
Seat
Frames (for four wheelers) v
Assembly
of Rear Automotive Suspensions v
Powder
Coated Pressed Parts v
Plastic
Flexible Hose Pipes |
Production Status : 31.03.2010
Note :
Licensed and Installed Capacity :
As certified by the Management and as per the norms
laid down by the Central Government, no licence is
required for the class of goods manufactured
by the Company; hence information pertaining to the licensed
capacity is not given. The Company is of the
view that the installed capacity of its machinery in terms of
measurable units cannot be determined as it
varies, based on the design / process of its heterogeneous range
of products.
Actual Production
|
Particulars |
Units |
31.03.2010 |
|
a) Automotive Components |
|
|
|
- Metal Parts |
PCS |
18,731,665 |
|
- Fabric |
PCS |
4,068,157 |
|
b) White Goods |
PCS |
3,752,651 |
|
c) Others |
|
-- |
|
d) Job Work |
|
-- |
|
|
|
|
|
Total |
|
26,552,473 |
GENERAL INFORMATION
|
Customers (2009): |
v
Tata
Motors Limited v
Samsung
India Limited v
Mahindra
and Mahindra Limited v
LG
India Limited v
Hyundai
Motor Industries Limited v
General
Motors India v
Bharat
Seats Limited v
Maruti
Udyog Limited v
mahindra
Renault Limited v
mahindra
International v
Fleetguard
Inc. v
John
Deere v
carrier
Airconditioning and Refrigeration Limited |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
Canara
Bank v
Citi
Bank v
Punjab
National Bank v
Industrial
Development Bank of The company has
availed Term Loan from Industrial Development Bank of India (IDBI)) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Dinodia and
Company Chartered
Accountants |
|
Address : |
K-39, Connaught
Place, New Delhi – 110001, Delhi, India |
|
|
|
|
Collaborators : |
Sejong Industrial
Company Limited, Chasys Company
Limited, Bosal NV., Ricardo Plc., The |
|
|
|
|
Subsidiary Companies : |
·
Sharda Sejong Auto components (India) Limited |
|
|
|
|
Associates : |
·
Relan Industrial Finance Limited ·
Bharat Seats Limited ·
Progressive Engineering and Automation Private
Limited ·
Sharda Enterprises |
|
|
|
|
Related Parties : |
·
A.N.I Hospitality LLP ·
Rohit Relan (HUF) ·
Ajay Relan (HUF) ·
N.D.Relan (HUF) |
CAPITAL STRUCTURE
As on : 31.03.2010
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 |
|
|
|
|
|
|
5946326 |
Equity Shares |
Rs.10/- each |
Rs.59.463 Millions |
|
|
|
|
|
Note :
Out of the above shares
4,953,163 (P. Y. 4,953,163) equity share of Rs. 10/- each are issued as fully
paid up bonus shares by way of capitalization of General Reserve.
3,161 (P. Y. 3,161) equity shares allotted for consideration other than
cash
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 |
59.463 |
59.500 |
59.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1055.284 |
913.300 |
905.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1114.747 |
972.800 |
965.400 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
703.924 |
658.500 |
741.800 |
|
|
2] Unsecured Loans |
259.200 |
258.100 |
90.400 |
|
|
TOTAL BORROWING |
963.124 |
916.600 |
832.200 |
|
|
DEFERRED TAX LIABILITIES |
65.490 |
54.900 |
54.000 |
|
|
|
|
|
|
|
|
TOTAL |
2143.361 |
1944.300 |
1851.600 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1103.230 |
962.000 |
907.300 |
|
|
Capital work-in-progress |
226.323 |
291.500 |
230.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
214.412 |
214.400 |
14.400 |
|
|
DEFERREX TAX ASSETS |
0.000 |
6.100 |
8.900 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
389.829
|
277.100
|
180.600 |
|
|
Sundry Debtors |
409.642
|
358.300
|
395.800 |
|
|
Cash & Bank Balances |
79.871
|
21.300
|
178.400 |
|
|
Other Current Assets |
12.364
|
0.000
|
0.000 |
|
|
Loans & Advances |
649.386
|
847.100
|
994.400 |
|
Total
Current Assets |
1541.092
|
1503.800
|
1749.200 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
899.570
|
863.300
|
659.000 |
|
|
Provisions |
42.126
|
170.200
|
399.200 |
|
Total
Current Liabilities |
941.696
|
1033.500
|
1058.200 |
|
|
Net Current Assets |
599.396
|
470.300
|
691.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2143.361 |
1944.300 |
1851.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4661.967 |
3397.658 |
|
|
|
|
Other Income |
42.316 |
30.172 |
69.465 |
|
|
|
TOTAL (A) |
4704.283 |
3427.830 |
3701.704 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material |
353.213 |
302.833 |
283.189 |
|
|
|
Manufacturing and Other Expenses |
3805.365 |
2863.076 |
2940.212 |
|
|
|
Miscellaneous expenses |
0.000 |
0.000 |
1.083 |
|
|
|
TOTAL (B) |
4158.578 |
3165.909 |
3224.484 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
545.705 |
261.921 |
477.220 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES/ INTEREST (D) |
82.517 |
29.536 |
26.856 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
463.188 |
232.385 |
450.364 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
149.204 |
126.321 |
139.481 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
313.984 |
106.064 |
310.883 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
102.423 |
29.114 |
81.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
211.561 |
76.950 |
229.440 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
215.558 |
308.200 |
298.300 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Profit and Loss balance carried down |
157.551 |
215.600 |
308.200 |
|
|
|
Dividend |
59.462 |
59.500 |
59.500 |
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Export Earnings |
15.268 |
11.777 |
16.978 |
|
|
|
TOTAL EARNINGS |
15.268 |
11.777 |
16.978 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
701.212 |
676.587 |
590.519 |
|
|
|
Stores & Spares |
8.149 |
0.000 |
0.000 |
|
|
|
Capital Goods |
11.344 |
29.970 |
238.364 |
|
|
|
TOTAL IMPORTS |
720.705 |
706.557 |
828.883 |
|
|
|
|
|
|
|
|
|
|
Earning Per
Share |
35.58 |
12.94 |
38.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.49 |
2.21
|
6.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.73 |
3.10
|
8.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.87 |
4.27
|
11.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.11
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.17 |
2.00
|
1.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63 |
1.45
|
1.65 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
During the year the Company achieved yet another milestone.
Turnover and inter-unit transfers touched an all time high of Rs. 548.11 Crores
as against Rs.433.34 Crores for the previous Financial Year registering an
increase of 26.48%.
SUBSIDIARY
The Company has only one wholly owned subsidiary viz
M/s Sharda Sejong Auto Components (India) Limited. The Audited Accounts of the
subsidiary for the year ended 31 March’ 2010 are attached in accordance with
Section 212 of the Companies Act, 1956. Consolidated accounts of its subsidiary
and associates for the year under review have also been drawn in accordance
with the requirement of Accounting Standard 21 and 23 of ICAI annexed herewith
for the review.
Sharda Motor Industries Limited (SMIL) engaged in
the business of manufacturing of automotive components and white goods, is a
constituent of the Relan Group. The Management of SMIL presents its analysis
covering the Company's performance and Results of Operations during the year
under review and its outlook for the future. The year under review has shown a
significant growth in the automobile sector giving a boost to the original
equipment manufacturers for the automobile industry as well. This outlook is
based on the assessment of the current business environment and assumptions and
expectations of future events. It may vary due to future economic and other
developments in India and abroad. The actual results may differ materially from
those expressed in the statement.
INDUSTRY STRUCTURE, DEVELOPMENTS AND OUTLOOK
The growth of the Auto-ancillary industry depends on
various factors including overall GDP growth, agricultural and industrial
production, and growth in vehicle demand and infrastructure development. SMIL's
operations span across eight manufacturing units located across the country. In
order to meet the market opportunities, the Company has continuously been
working under the philosophy for providing the highest quality products and
services to its customers. The Company's Management has been focusing on tight
management of working capital, building people capability and elimination of
waste. All endeavours are made to maximize gains and reduce costs, under the
umbrella of Continuous Improvement System.
However, the Company is hopeful that the present
Indian economic scenario is indicative of better year for automotive and white
goods components. In such an economic scenario and keeping in view of the fact
that the Company has bought back its SIPCOT unit from its wholly owned
subsidiary and it is going to start production at two new locations viz Sanand,
Gujrat (for Tata Nano Car) and Chakan, Maharashtra (For Mahindra and Mahindra),
SMIL projects a healthy growth in its turnover for the next financial year
2010-11.
FIXED ASSETS :
·
Land
·
Leasehold
·
Freehold
·
Plant and
Machinery
·
Office
Equipments
·
Electric
Fittings
·
Vehicles
·
Buildings
AS PER WEB DETAILS:
RELAN GROUP:
Relan Group is a diversified, multi-product group of
Companies, with expertise in manufacturing and supply of components to
automotive and White Goods Manufacturers. The group is also one of the pioneers
in financial services.
Relan Group believes that our responsibility is to satisfy all our customers and those who use our products and services by meeting their needs promptly and accurately by maintaining the highest quality standards. There must be equal opportunity for development, advancement and growth.
Relan Group has state of the art manufacturing facilities with continuous focus
on new product, innovation and technology upgradation. Under the dynamic
leadership and vision of Shri N.D.Relan, the Chairman of the Group, Shri Rohit
Relan, the Managing Director Bharat Seats Ltd and Shri Ajay Relan, the Managing
Director of the Sharda Motor Industries Ltd and it's units, the RELAN GROUP,
with its successful track record and desire for excellence is today an
industrial force to reckon with in the Automotive Supplier Industry.
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. 46.17 |
|
|
1 |
Rs. 73.64 |
|
Euro |
1 |
Rs. 64.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
60 |
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.