MIRA
INFORM REPORT
|
Report Date : |
18.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
YAMAZAKI MAZAK INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 115 and 116, B.U. Bhandari Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.03.2008 |
|
|
|
|
Com. Reg. No.: |
11-131662 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.325.994 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2008FTC131662 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEY01951F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACY3446R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing,
Selling and Servicing of CNC Machine Tools and its Spares and Accessories |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
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 for normal business dealing 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 : |
Plot No. 115 and 116, B.U. Bhandari Industrial Estate, |
|
Tel. No.: |
91-2137-668800 |
|
Fax No.: |
91-2137-668829 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Technical
Centers : |
CHENNAI : Jamals Fazal Chambers, II Floor, Door No. 26, Greams Road, Thousandlights, Chennai 600 006, Tamilnadu, India Tel.: 91-44-42045750 Fax: 91-44-42045740
Pacific Square, Office Space No. 305, Third Floor, Village
Silokhara, Tel.: 91-124-4107446 Fax: 91-124-4107445
UB City, Level 14, Concorde Towers, No. 1, Vithal Mallya
Road, Tel.: 91-80-40300431 Fax: 91-80-40300400 |
|
|
|
|
Mazak Sales and
Service : |
Located at
|
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Vivek Vijay Kumar Sharma |
|
Designation : |
Managing Director |
|
Address : |
603, Copa Cabana – B, |
|
Date of Birth/Age : |
05.01.1963 |
|
Qualification : |
M. Tech. |
|
Date of Appointment : |
24.03.2008 |
|
DIN No.: |
01541498 |
|
|
|
|
Name : |
Mrs. Takashi Yoshihiko Yamazaki |
|
Designation : |
Director |
|
Address : |
30-1, Myoken-Cho, Showa-Ku, |
|
Date of Birth/Age : |
08.12.1962 |
|
Qualification : |
Bachelor of Business Administration |
|
Date of Appointment : |
02.09.2010 |
|
DIN No.: |
01541577 |
|
|
|
|
Name : |
Mr. Toshimitsu Saburou Kito |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
21.08.1948 |
|
Qualification : |
Bachelor of Economics |
|
Date of Appointment : |
24.03.2008 |
|
DIN No.: |
01541672 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Yamazaki Mazak Netherland B.V., Netherland |
|
43116516 |
|
Yamazaki Mazak Singapore Private Limited, |
|
1 |
|
Total |
|
43116517 |
As on 27.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Selling and Servicing of CNC Machine Tools and its Spares and Accessories |
|
|
|
|
Products : |
·
Multi Tasking Machine ·
Vertical Machining Centers ·
Horizontal Machining Centers ·
CNC Turning Centers ·
Production Support Software ·
FMS ·
Double Column Machining Centers ·
Machine Tools For Mass Production ·
Laser Processing Machines |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sell Chartered Accountants |
|
Address : |
706, 'B' Wing, 7th Floor, |
|
Tel. No.: |
91-20-66244600 |
|
Fax No.: |
91-20-66244605 |
|
PAN.: |
AGPPJ1652Q |
|
|
|
|
Holding Company : |
Yamazaki Mazak Nederland B V |
|
|
|
|
Fellow Subsidiary : |
· Yamazaki Mazak Singapore Pte Limited · Yamazaki Mazak Europe NV · Mazak Corporation |
|
|
|
|
Ultimate Holding
Company : |
Yamazaki Mazak Trading Corporation |
|
|
|
|
Group Company : |
· Yamazaki Mazak Corporation · Yamazaki Mazak · Singapore Pte Limited |
CAPITAL STRUCTURE
As on 27.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43116517 |
Equity Shares |
Rs.10/- each |
Rs.431.165
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32599427 |
Equity Shares |
Rs.10/- each |
Rs.325.994
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
325.994 |
145.500 |
145.500 |
|
|
2] Share Application Money |
120.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
137.647 |
50.149 |
15.506 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
583.641 |
195.649 |
161.006 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
5.666 |
0.021 |
0.633 |
|
|
|
|
|
|
|
|
TOTAL |
589.307 |
195.670 |
161.639 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
459.294 |
104.316 |
103.723 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
209.764
|
71.156
|
35.457 |
|
|
Unbilled Revenues |
0.000
|
0.000
|
0.336 |
|
|
Sundry Debtors |
100.119
|
87.447
|
28.419 |
|
|
Cash & Bank Balances |
108.596
|
63.974
|
77.480 |
|
|
Other Current Assets |
3.511
|
0.645
|
0.118 |
|
|
Loans & Advances |
65.108
|
15.734
|
8.968 |
|
Total
Current Assets |
487.098
|
238.956
|
150.778 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
303.036
|
126.257
|
83.068 |
|
|
Other Current Liabilities |
10.365
|
11.544
|
4.301 |
|
|
Provisions |
21.842
|
9.801
|
5.493 |
|
Total
Current Liabilities |
357.085
|
147.602
|
92.862 |
|
|
Net Current Assets |
130.013
|
91.354
|
57.916 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
589.307 |
195.670 |
161.639 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
260.087 |
58.384 |
|
|
|
Other Income |
|
2.209 |
0.153 |
|
|
|
TOTAL (A) |
450.163 |
262.296 |
58.537 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of sales |
|
52.871 |
1.246 |
|
|
|
Personnel Costs |
|
61.625 |
12.610 |
|
|
|
Operating and Other Costs |
|
85.691 |
18.253 |
|
|
|
TOTAL (B) |
|
200.187 |
32.109 |
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
62.109 |
26.428 |
|
|
|
|
(345.572
including Financial and Depreciation Expenses) |
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.338 |
0.43 |
|
|
|
|
|
|
|
|
|
|
PROFIT/[LOSS]
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
60.771 |
26.385 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
7.229 |
1.187 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
BEFORE TAX (E-F) (G) |
104.591 |
53.542 |
25.198 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.166 |
18.899 |
9.692 |
|
|
|
|
|
|
|
|
|
|
PROFIT / [LOSS]
AFTER TAX (G-H) (I) |
68.425 |
34.643 |
15.506 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
15.506 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
50.149 |
15.506 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Commission Earnings |
NA |
NA |
50.290 |
|
|
|
Compensation |
NA |
NA |
5.970 |
|
|
|
TOTAL EARNINGS |
NA |
NA |
56.260 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Spares |
NA |
NA |
0.356 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
0.356 |
|
|
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
2.79 |
2.38 |
5.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
15.20
|
13.21 |
26.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
20.29 |
43.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.05
|
15.60 |
9.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.27 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.61
|
0.75 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
1.62 |
1.62 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
No |
|
24) Banking facility details |
No |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
CONTINGENT LIABILITIES
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Guarantee against re-export Bond |
9.701 |
0.000 |
|
Performance Gurantee against contract to be executed |
0.780 |
0.000 |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Computer
- Office Equipments
- Vehicles
- Tools
- Software
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.55.76 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.70.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.