MIRA
INFORM REPORT
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Report Date : |
13.09.2011 |
IDENTIFICATION DETAILS
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Name : |
BEHR INDIA LIMITED |
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Registered Office : |
Gat No.626/1/2 and 622/1/0, 29, Milestone, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
28.04.1997 |
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Com. Reg. No.: |
11-107619 |
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Capital
Investment/ Paid-up Capital: |
Rs.241.000
millions |
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CIN No.: [Company
Identification No.] |
U34300PN1997PLC107619 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEB01594F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Air Conditioning Systems for
Automobiles |
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No. of Employees: |
550 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1730000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between Behr Gmbh and Company KG., It is an established company having satisfactory track records. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal 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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 PARTED BY
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Name : |
Mr. Vidhi Shandiramane |
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Designation : |
Accounts Manager |
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Contact No.: |
91-2135-665000 |
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Date : |
02.04.2011 |
LOCATIONS
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Registered Office / Factory: |
Gat No.626/1/2 and 622/1/0, 29, Milestone, |
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Tel. No.: |
91-2135-665000 |
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Mobile No.: |
91-9822216433 (Mr. Sunil Kaul) |
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Fax No.: |
91-2135-665050 / 665150 |
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E-Mail : |
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Website : |
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Corporate Office : |
In |
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Factory : |
B-5, Chakan Industrial Area, District Khed, Pune, |
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Area: |
Owned |
DIRECTORS
AS ON 16.07.2010
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Name : |
Mr. Deep C. Anand |
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Designation : |
Director |
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Address : |
1 Shri Aurobindo Marg, New Delhi-110016, |
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Date of Birth: |
26.08.1933 |
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Date of Appointment : |
13.05.1997 |
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Name : |
Mr. Kaul Premnath Kaul |
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Designation : |
Managing Director |
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Address : |
House No.8, Atul Excellency, SR No.207, 2 Kaspatye Vasti,
Wakad, Pune-411027, |
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Date of Birth : |
13.08.1959 |
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Date of Appointment : |
15.12.2009 |
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Name : |
Mr. Dirk Wolfgang Heers
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Designation : |
Director |
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Address : |
C/6 No. 38, URB Santa Maria, DE LA Vall E – 08757, Corber
A De, Llobre, Gat Es Paria, Spain – 08757 |
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Date of Birth : |
29.07.1962 |
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Date of Appointment : |
22.12.2004 |
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Name : |
Mr. Pravesh K. Srivastava |
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Designation : |
Director |
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Address : |
PL 40/41 Pratham Society, 210/3, Wakad Telephone Exchange, Pune –
411027, |
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Date of Birth : |
04.02.1955 |
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Date of Appointment : |
01.01.2006 |
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Name : |
Colin Leslie Carter |
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Designation : |
Director |
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Address : |
IM, Dorn 12, Beilstein-71717, |
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Date of Birth : |
19.11.1955 |
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Date of Appointment : |
17.12.2008 |
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Name : |
Mr. Deepak Ramnath Chopra |
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Designation : |
Director |
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Address : |
H 7 and 8, Anfilco Housing Colony, Anand Farm Palam Gurgaon Road,
Dundhahera, Gurgaon – 122 016, Haryana, India |
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Date of Birth : |
25.12.1954 |
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Date of Appointment : |
27.03.2009 |
KEY EXECUTIVES
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Name : |
Mr. Preeti Kailash Agrawal |
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Designation : |
Secretary |
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Address : |
A-28 Asara Nagar, |
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Date of Birth/Age : |
28.15.1981 |
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Date of Appointment : |
26.03.2010 |
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Name : |
Mr. Vidhi Shandiramane |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.07.2010
|
Names of Shareholders |
No. of Shares |
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Behr Holding International |
14460000 |
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Asia Investment Private Limited, |
9639995 |
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Deepak R Chopra |
1 |
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K K Jaggi |
1 |
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Pravesh Kumar Srivastava |
1 |
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Mahendra Daulatram Goyal |
1 |
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Ramni VN Sood |
1 |
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Total |
24100000 |
(AS ON 16.07.2010)
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Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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60.00 |
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Bodies corporate |
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40.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Air Conditioning Systems for
Automobiles |
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Products : |
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Exports : |
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Products : |
Wire Harness |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash,
Credit (30 days, 60 days, 90 days) |
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Purchasing : |
L/C, Cash,
Credit (30 days, 60 days, 90 days) |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Automotive air conditioning systems, its parts and components |
Nos. |
580000 |
192382 |
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Radiators, comprising of radiator assemblies and fan shroud assembly |
Nos. |
400000 |
144376 |
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Compressor assembly and its components and parts thereof |
Nos. |
285000 |
135966 |
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Visco |
Nos. |
288000 |
113108 |
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Ventilation Units |
Nos. |
15000 |
1807 |
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Heat exchangers |
Nos. |
550000 |
309085 |
GENERAL INFORMATION
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Customers : |
OEM’s End Users ·
Ashok Leyland ·
Escorts ·
Force Man ·
Force Motors ·
Fiat ·
General Motors ·
ICML ·
Mahindra and Mahindra ·
Mahindra Renaul ·
Tata Cummins ·
Tata Motors |
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No. of Employees : |
550 (Approximately) |
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Bankers : |
·
ING Vyasya Bank Limited, Avenue Road Branch,
Bangalore – 560002, Karnataka, India. ·
ICICI Bank ·
Canara Bank ·
CITI Bank ·
Axis Bank ·
Bank of Baroda (CFS Branch), Corporation
Financial Services Branch, Mantri Court, 39, Ambedkar Road, Pune-411001,
Maharashtra, India |
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Facilities : |
Cash Credit – Rs.320.000 Millions
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Banking
Relations : |
-- |
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Financial Institute: |
Volkswsagen India Private Limited, E-1, MIDC Industrial Area, Phase
III, Village Nogoje Mhalunge Kharabwadi Chakan, Taluk Khed, Pune-410501, |
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Auditors : |
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Name : |
S. R. Batliboi and Associates Chartered Accountants |
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Address : |
The Metropole, F-1, 1st Floor, |
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Group Companies: |
Address : Gat No.626/1/2 and 622/1/0, 29, Milestone, Line of Business: Manufacturer of Air Conditioning Systems
for Automobiles
Address : Gat No.626/1/2 and 622/1/0, 29, Milestone, Line of Business: Manufacturer of Air Conditioning Systems
for Automobiles |
CAPITAL STRUCTURE
AS ON 16.07.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24100000 |
Equity Shares |
Rs.10/- Each |
Rs.241.000 millions |
|
1000000 |
Preferences Shares |
Rs.100/- Each |
Rs.100.000 millions |
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Total |
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Rs.341.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24100000 |
Equity Share |
Rs.10/- Each |
Rs.241.000
millions |
NOTE
Of the above Equity Shares of Rs. 10 each, 14,460,000 (Previous Year : 14,460,000) shares are held by the holding company, Behr Holding International GmbH, Germany and Equity Shares of Rs. 10 each, 9,639,995 (Previous Year : 9,639,995 ) shares are held by Asia Investment Private Limited.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
241.000 |
241.000 |
241.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
193.817 |
90.538 |
241.109 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
434.817 |
331.538 |
482.109 |
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LOAN FUNDS |
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1] Secured Loans |
395.933 |
352.962 |
304.556 |
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2] Unsecured Loans |
302.244 |
414.230 |
441.962 |
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TOTAL BORROWING |
698.177 |
767.192 |
746.518 |
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DEFERRED TAX LIABILITIES |
51.159 |
0.000 |
23.332 |
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TOTAL |
1184.153 |
1098.730 |
1251.959 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
860.462 |
854.843 |
825.593 |
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Capital work-in-progress |
258.017 |
261.091 |
162.411 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
13.845 |
33.804 |
5.812 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
391.345
|
342.893 |
380.409 |
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Sundry Debtors |
544.462
|
372.153 |
628.401 |
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Cash & Bank Balances |
115.406
|
49.073 |
65.340 |
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Other Current Assets |
89.409
|
134.833 |
60.859 |
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Loans & Advances |
310.216
|
177.800 |
173.327 |
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Total
Current Assets |
1450.838
|
1076.752 |
1308.336 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1215.510 |
892.365 |
836.199 |
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Current Liabilities |
147.800
|
207.486 |
97.816 |
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Provisions |
35.699
|
27.909 |
116.178 |
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Total
Current Liabilities |
1399.009
|
1127.760 |
1050.193 |
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Net Current Assets |
51.829
|
(51.008) |
258.143 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1184.153 |
1098.730 |
1251.959 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
3331.381 |
2677.748 |
4660.731 |
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Other Income |
92.664 |
58.115 |
88.480 |
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TOTAL (A) |
3424.045 |
2735.863 |
4749.211 |
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Less |
EXPENSES |
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Raw Material
and Components Consumed / Cost of Trading Goods |
2196.095 |
1922.270 |
3512.384 |
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Decrease in Inventories |
14.459 |
22.631 |
(64.611) |
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Cost of Moulds and Related Services |
76.899 |
7.362 |
42.785 |
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Personnel Expenses |
245.588 |
279.153 |
205.632 |
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Operating and Other Expenses |
504.053 |
499.311 |
614.522 |
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Exceptional Items |
0.000 |
(15.908) |
0.000 |
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Expenses Capitalised |
(11.583) |
(27.198) |
(4.614) |
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TOTAL (B) |
3025.511 |
2687.621 |
4306.098 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
398.534 |
48.242 |
443.113 |
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Less |
FINANCIAL
EXPENSES (D) |
73.337 |
75.535 |
65.115 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
325.197 |
(27.293) |
377.998 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
183.027 |
169.402 |
172.822 |
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PROFIT BEFORE
TAX (E-F) (G) |
142.170 |
(196.695) |
205.176 |
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Less |
TAX (I) |
38.891 |
(46.124) |
63.389 |
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PROFIT AFTER TAX
(G-I) (J) |
103.279 |
(150.571) |
141.787 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
47.088 |
197.659 |
168.432 |
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Less |
APPROPRIATIONS |
|
|
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|
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|
Dividend on preferences shares |
0.000 |
0.000 |
(3.567) |
|
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|
Dividend on equity shares |
0.000 |
0.000 |
(72.300) |
|
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|
Tax on Dividend |
0.000 |
0.000 |
(12.893) |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
(23.800) |
|
|
BALANCE CARRIED
TO THE B/S |
150.367 |
47.088 |
197.659 |
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EARNINGS IN
FOREIGN CURRENCY |
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|
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Income form Engineering Services |
210.693 |
108.986 |
63.715 |
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F.O.B. Value of Exports |
408.962 |
615.648 |
1413.151 |
|
|
|
|
27.190 |
9.593 |
43.764 |
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Claims under onerous contract |
0.000 |
38.598 |
0.000 |
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TOTAL EARNINGS |
646.845 |
772.825 |
1520.630 |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
945.549 |
907.121 |
597.268 |
|
|
|
Stores & Spares |
0.000 |
0.737 |
5.112 |
|
|
|
Capital Goods |
83.941 |
89.334 |
76.259 |
|
|
TOTAL IMPORTS |
1029.490 |
997.192 |
678.639 |
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|
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|
Earnings Per
Share (Rs.) |
4.29 |
(6.25) |
5.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.02 |
(5.50) |
2.99 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.27 |
(7.35) |
4.40 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.15 |
(10.18) |
9.61 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
(0.59) |
0.43 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
4.82 |
5.72 |
3.73 |
|
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|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
0.95 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
The Company’s registered overall sales during the year at Rs. 3,331.38 Million recorded growth of 24.4%- over the previous year’s sales of Rs. 2,677.75 Million. The domestic sales grew by 39.73% over the previous year.
During the year the Company has taken various steps to
reduce cost and efficiency and as a result the Company registered Profit before
Tax at Rs. 142.17 against loss of Rs. (196.70) Million in previous year. After
making provision for tax of Rs 38.89 Million, including deferred tax of Rs.
19.96 as per Accounting Standard 22, the Company could maintain Profit after
Tax of Rs 103.28 Million, compared with Loss after Tax of Rs.(150.57) Million
in the previous year.
OPERATIONS
a. EXISTING BUSINESS
The production of automotive air-conditioning systems, its components and parts thereof was higher at 192,382 numbers during the year against 123,770 numbers in the previous year. The production of Radiators (including fan shroud assemblies) increased from 130,309 in 2008-09 to 144,376 in the current year. Visco production also grew to 113,108 from 81,364 in the previous year.
b. EXPORTS:
Due to global slow down specially in
TRADE REFERENCE
- Cummins India Limited
- Hindustan Motors Limited
- Tata Motors Limited
Bankers Charges
Report as per Registry
|
Name of the
company |
BEHR INDIA LIMITED |
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Presented By |
MR. P. K.
SRIVASTAVA |
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1) Date and description of instrument creating the change |
Hypothecation agreement dated 28.11.1998 |
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2) Amount secured by the charge/amount owing on the securities of charge |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
1. Hypothecation of whole of the Borrower good both present and future and including but without prejudice to the generality of ht foregoing words, all stock of raw materials, work in process, semi finished good and finished goods such as Aluminium Radiators, Air conditioning systems, components and part thereof, heaters packing Materials spares and stores etc. whatsoever and where so ever situate and or in transit whether now belonging to or that may at any time during the continuance of this security belonging to the borrower or that may be held by party any where to the order and disposition of the borrower.
2. All the present and future book debs, out debts, outstanding , monies receivable claims, bills contracted, engagements, and securities which are now due and owing or which may at any time hereafter during continuance of this security become due and owing to he borrower in the course of its business by any person, firm, company or body corporate or by the government of India railways or any government department or officer and any municipal or local or public or semi government body or authority whatsoever including those relating to the assets leased and given on hire purchase basis.
3. All the tangible movable machinery and plant and cranes boats and crafts and the vehicles of the Borrower together with spares, tools and accessories and other movable both preset and future and ht furniture, fixture and fittings and office equipments whether installed or not and whether lying loose or in cases which are now lying or stored in or about or shall be brought into or be in or upon or about the borrowers premises and godowns or where ever else the same many be or held by any party to the order or disposition of the Borrower relating or pertaining to the Borrowers work at 29, Milestone, Kuruli, Pune or B-5, Chaskan MIDC Mahalung Khed, Pune, Maharashtra, India |
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|
4) Gist of the terms and conditions and extent and operation of the charge. |
Repayments of term loan 10 equal successive half yearly installments commencing after 18 months from the date of first disbursement of each term loan |
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|
5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda, Corporate Banking Branch, Mantri Court, 1st Floor, 39, Ramabai Ambedkar Road, Pune – 411 001, Maharashtra, India |
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|
6) Date and brief description of instrument modifying the charge |
Second supplemental composite deed of
hypothecation of goods book debts movable machinery and vehicles dated
24.12.2003 |
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|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Original charge created on 28.11.1998 for Rs. 262.000
millions is further modified on 13.10.1999 by memorandum of entry evidencing
equitable mortgage created by deposit of title deeds or land as an additional
security. 29, Milestone, Kuruli,
Pune or B-5, Chaskan MIDC Mahalung Khed, Pune,
On or towards the North by – MIDC Boundary On or towards the South by – On or towards the East by – On or towards the West by –
Together with all building and structures now standing thereon or to be erected hereafter and the plant and machinery attached to the earth or permanently fastened to anything attached to the earth both present and future.
Other terms and conditions remain the same.
Which was further modified by first supplemental composite instrument of hypothecation of goods, book debts, movable machinery and vehicles dated 04.04.2000 supplemental memorandum of entry dated 04.04.2000
Which was further modified by second supplemental composite instruments hypothecation of goods book debts movable machinery and vehicles dated 24.12.2003 revised the limits as under :
Other terms and conditions remain same. Which is further modified by second supplemental memorandum of entry dated 06.02.2004. The charge on immovable property extended to cover the enhanced limits. |
|
Corporate
identity number of the company |
U34300PN1997PLC107619 |
|
Name of the
company |
BEHR INDIA
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Gat No.626/1/2 and 622/1/0, 29, Milestone, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90084946 |
|
Type of charge |
Immovable
Property Any interest in
immovable property |
|
Particular of
charge holder |
Bank of Baroda (CFS Branch), Corporation Financial Services Branch, Mantri
Court, 39, Ambedkar Road, Pune-411001, Maharashtra, India Email ID: bob3939@gmail.com |
|
Nature of
instrument creating charge |
Memorandum of
entry |
|
Date of
instrument Creating the charge |
26.04.2010 |
|
Amount secured by
the charge |
Rs.655.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest This is equitable
mortgage. Terms of
Repayment This is equitable
mortgage. Margin This is equitable
mortgage. Credit Exposure (For Forward contract limit): 5% i.e. Rs. 60.000
millions by way of extension of mortgage charge on fixed assets of the
company. all other terms and conditions remains same Extent and
Operation of the charge Additional Credit
Exposure (For Forward contract limit) of Rs. 60.000 millions provided.
Following are the revised facilities Term Loan
:125.000 Millions (continuation) Cash Credit
:350.000 Millions (continuation) inland/ import
Letter of credit:100.000 Millions (continuation) Bank Guarantee
inland and foreign :20.000 Millions(continuation) Credit Exposure
Limit : 60.000 millions (New) TOTAL: 655.000
Millions. Charge operates
as a security for enhanced limits. immoveable property is provided as
security for enhanced limits |
|
Short particular
of the property or asset(s) charged |
i)
An
unascertained area of NA land admeasuring 0 hectors 51.79ares=5179.1 sq.
mtrs. carved out of all that piece and parcel of land bearing – ii)
Gat no.
626/1 admeasuring 6hectors 91 ares village
kururli tal Khed Dist Pune, iii)
Total
Area of Gat no.626/2 admeasuring 2 hectors 63 ares=26304.36 sq mtrs non
agricultural land of village kururli
tal Khed Dist Pune, iv)
all
making together a total area of 3 hectares 14.79 ares =31483.46 sq mtrs non
agricultural land together with a perpetual right to use of v)
An
unascertained area of NA land admeasuring 0 hectares 01.214 ares=121.405 sq.
mtrs. out of ascertained ares of NA land admeasuring 2 hectares 65ares carved
out of all that piece and parcel of land vi)
bearing
Gat no.622/1/0 totally admeasuring 5 hectares 11 Ares of village kururli
Takla Khed dist Pune, vii)
Land
admeasuring 0 hectares 68.80 ares= 6880.41 sq. mtrs. Sufficient enough to
carve out and lay a 15mtrs. wide tar approach road with fencing /wall o both
sides thereof for the purpose approach – viii)
passing
through Gat no. 626/1of villege Kururli taluka Khed dist Pune, ix)
together
with buildings / structures standing thereon or to be constructed thereon x)
and
also as stated in the agreement |
FIXED
ASSETS
· Land
· Plant and
Machinery
· Furniture and
Fixture
· Motor Vehicles
· Computer
· Office and other
Equipments
AS PER WEBSITE
Profile:
The organization at present does
Commercial Production for Tata Indica and Indigo, Mahindra Scorpio, Renault
Logan, Tata ACE, and Aveo The year 2000 Global Purchasing and Engineering Services
became a part of Behr
In the last three years Behr received multiple orders for GM T Car HVAC
and Condenser, Renault Logan HVAC and Condenser, Tata X1 for HVAC Kit, Renault
Logan Radiator, Eicher and Force Motors Visco, HVAC and Condenser for Tata
Nano, cooling module for Fiat, Escort and Sonalika Radiator.
The product range of the organization can be divided into two broad
category of Engine Cooling and Air Conditioning. The total product range
include Radiators/ CAC, Viscous Fan, Condensor, EGR Proposed, HVAC System and
Heater/ Evaporator. The company also provides Engineering Services, and Global
Sourcing.
At present the total HR force at Behr is 600 that include Engineering
Services - 50 , Engine Cooling Division – 200 , Air Conditioning Division – 324
members and Global Sourcing - 26 members.
The company has shown a constant growth at the rate of 18% and the
projected growth for the next three years is 22%.
PRESS RELEASE:
BEHR
lndia gears up for Euro 4 Emission Standards
- The automotive air
conditioning and engine cooling specialist has introduced Exhaust Gas
Recirculation technology -
New Delhi, February 11, 2011,: Behr India, a
joint venture between Behr GmbH and Co.KG, Stuttgart, a systems partner for
international automobile industry and Anand Automotive Limited, one of India’s
leading manufacturers of automotive components and systems, today announced the
introduction of ‘Exhaust Gas Recirculation (EGR) technology in India. The EGR
technology will help heavy trucks and ultra light commercial vehicles to meet
the upcoming Euro 4 standards in
About Behr
Behr
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] 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.46.97 |
|
|
1 |
Rs.74.22 |
|
Euro |
1 |
Rs.63.66 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.