MIRA
INFORM REPORT
|
Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPM AUTOCOMP SYSTEMS PRIVATE LIMITED (w.e.f. 05.08.2002) |
|
|
|
|
Formerly Known
As : |
S.P. METALLURGICAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
30, Second Floor, Amrit Nagar, NDSE-1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.05.1995 |
|
|
|
|
Com. Reg. No.: |
55-176293 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.9.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310DL1995PTC176293 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS35690E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS7903H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Exhaust Manifolds. |
|
|
|
|
No. of Employees : |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 850000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track. But
there appears loss in the current year due to increase in interest and depreciation
charges. However, trade relations reported to be fair. Business is active.
Payments are reported to be usually correct and as commitments. The company can be considered 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 – 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 : |
30, Second Floor, Amrit Nagar, NDSE-1, |
|
Tel No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
187, Sector – 3, IMT Manesar, District Gurgaon, |
|
Tel. No.: |
91-124-4369250–55 |
|
Fax No.: |
91-124-4369257 |
|
|
|
|
Factory 2 : |
Plot No.F-32, MIDC Ranjangaon, Shirur, Pune – 412 220, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Dharmendra Batra |
|
Designation : |
Managing Director |
|
Address : |
170, 1st Floor, Hewo Apartments, Sector -15, Part – II,
Gurgaon – 122 001, |
|
Date of Birth/ Age: |
06.04.1970 |
|
Qualification : |
Graduate |
|
Experience : |
16 Years |
|
Date of Appointment : |
02.05.1995 |
|
DIN No.: |
00052801 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27310DL1995PTC176293 |
SPM
AUTOCOMP SYSTEMS PRIVATE LIMITED |
Managing
director |
10-07-07 |
02-05-95 |
- |
Active |
NO |
|
2 |
U74899DL2006PTC146075 |
SPM
TECHSOLUTIONS PRIVATE LIMITED |
Director |
08-02-06 |
08-02-06 |
- |
Active |
NO |
|
Name : |
Mr. Neeraj Bajaj |
|
Designation : |
Director |
|
Address: |
898, Sector-29, |
|
Date of Birth/ Age: |
17.09.1970 |
|
Date of Appointment: |
01.01.2004 |
|
DIN No.: |
00035778 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27310DL1995PTC176293 |
SPM
AUTOCOMP SYSTEMS PRIVATE LIMITED |
Director |
01-01-04 |
01-01-04 |
- |
Active |
NO |
|
2 |
L17115HR1993PLC032108 |
RICHA
INDUSTRIES LIMITED |
Director |
29-12-05 |
29-12-05 |
- |
Active |
NO |
|
3 |
U34200DL2006PTC146147 |
A.A.
AUTOTECH PRIVATE LIMITED |
Director |
10-02-06 |
10-02-06 |
20-05-08 |
Active |
NO |
|
4 |
U35122DL2007PTC166695 |
RAMA
AUTOCOM PRIVATE LIMITED |
Director |
07-08-07 |
07-08-07 |
15-02-08 |
Active |
NO |
|
5 |
U17121DL2007PTC164601 |
S.N.K.
GARMENTS PRIVATE LIMITED |
Director |
22-09-07 |
22-09-07 |
21-05-08 |
Active |
NO |
|
6 |
U17120HR2007PLC037252 |
RICHA
INFRASTRUCTURE LIMITED |
Director |
08-08-08 |
13-03-08 |
18-05-09 |
Active |
NO |
|
7 |
U74899DL1989PTC038160 |
URASTUN
METAL INDUSTRIES PRIVATE LIMITED |
Additional
director |
20-05-09 |
20-05-09 |
31-03-11 |
Active |
NO |
|
8 |
U34300DL1991PTC203627 |
VICTORA
AUTO PRIVATE LIMITED |
Director |
14-10-11 |
14-10-11 |
- |
Active |
NO |
|
9 |
U55101DL2007PTC163798 |
VICTORA
HOSPITALITIES PRIVATE LIMITED |
Director |
28-03-12 |
28-03-12 |
- |
Active |
NO |
|
Name : |
Mr. Vijay Narayan Bedekar |
|
Designation : |
Director |
|
Address : |
B-5, Dhavalgiri Pakr, CHS, 35/2, Karve Nagar, Pune – 411 052, |
|
Date of Birth/Age : |
12.03.1948 |
|
Date of Appointment : |
01.09.2009 |
|
DIN No.: |
02508347 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27310DL1995PTC176293 |
SPM
AUTOCOMP SYSTEMS PRIVATE LIMITED |
Director |
01-09-09 |
11-02-09 |
- |
Active |
NO |
|
2 |
U31103PN1960PLC011738 |
GHATGE
PATIL INDUSTRIES LIMITED |
Director
appointed in casual vacancy |
28-03-09 |
28-03-09 |
- |
Active |
NO |
|
3 |
U34103PN2012PTC142062 |
ZHENGXING
INDO WHEELS PRIVATE LIMITED |
Director |
25-01-12 |
25-01-12 |
- |
Active |
NO |
|
Name : |
Mrs. Neeta Batra |
|
Designation : |
Executive Director |
|
Address : |
2nd Floor, D–48, East of Kailash, |
|
Date of Birth/ Age: |
10.12.1961 |
|
Qualification : |
Post Graduate In English |
|
Experience : |
16 Years |
|
Date of Appointment : |
02.05.1995 |
|
DIN No.: |
00054830 |
|
|
|
|
Name : |
Mr. Pradyot Kumar Banerjee |
|
Designation : |
Director |
|
Address : |
Apartment No. TNC 123, Trinity House, DLF, Gurgaon – 122 002, |
|
Date of Birth/Age : |
01.02.1951 |
|
Qualification : |
B. Tech, Electronics and Communication |
|
Experience : |
37 Years |
|
Date of Appointment : |
01.09.2009 |
|
DIN No.: |
02592451 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Khanna |
|
Designation : |
Chief Executive Officer |
|
Date of Birth/Age : |
48 years |
|
Qualification : |
B.E Metrology |
|
Experience : |
25 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dharmendra Batra |
|
219985 |
|
Neeta Batra |
|
567515 |
|
Helan Bajaj |
|
90000 |
|
Naresh Gupta |
|
22500 |
|
Total |
|
900000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
87.50 |
|
Other
top fifty shareholders |
|
12.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Exhaust Manifolds. |
|
|
|
|
Products : |
· Turbo Manifolds · Turbine Housing · Differential carriers, differential housings and cases · Gear Housing · Steering Knukles · Brake drums · Brake Discs · Hubs · Brake calipers · Brake caliper housings |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Exhaust Manifold, Manifold Assly and Other SGI Grade Castings |
MT |
|
7200 |
1828178 |
|
Resin coated sand |
MT |
|
18000 |
16235 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
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Bankers : |
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||||||||||||||||||||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Chopra Grover and Associates Chartered Accountants |
|
Address : |
Flat No. 102, Plot No. 8, Garg Plaza, Bhera Enclave, New Delhi – 110087, India |
|
Tel No.: |
91-11-25277349 |
|
Mobile No.: |
91-9810540577 / 9810262114 |
|
Fax No.: |
91-11-25278998 |
|
E-mail Id : |
|
|
PAN No.: |
AACFC6471B |
|
|
|
|
Subsidiaries : |
SPM Techsolutions Private Limited Address: 30, Second Floor, Amrit Nagar, NDSE-1, CIN No.: U74899DL2006PTC146075 |
|
|
|
|
Related Parties : |
Sai Trans Services |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
900000 |
Equity Shares |
Rs.10/- each |
Rs.9.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 (Consolidated) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.000 |
9.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
203.611 |
254.667 |
233.899 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
212.611 |
263.667 |
242.899 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
367.382 |
323.754 |
275.354 |
|
|
2] Unsecured Loans |
35.491 |
26.530 |
3.207 |
|
|
TOTAL BORROWING |
402.873 |
350.284 |
278.561 |
|
|
DEFERRED TAX LIABILITIES |
29.655 |
25.939 |
29.685 |
|
|
Creditors Against Capital Goods
|
3.919 |
35.964 |
58.377 |
|
|
|
|
|
|
|
|
TOTAL |
649.058 |
675.854 |
609.522 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
676.098 |
632.133 |
488.007 |
|
|
Capital work-in-progress |
5.446 |
20.367 |
78.152 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.100 |
0.100 |
0.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.861
|
52.533 |
37.678
|
|
|
Sundry Debtors |
120.445
|
109.436 |
168.189
|
|
|
Cash & Bank Balances |
7.362
|
9.271 |
4.757
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
83.681
|
34.331 |
26.434
|
|
Total
Current Assets |
289.349
|
205.571 |
237.058 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
261.416
|
138.187 |
169.747
|
|
|
Other Current Liabilities |
4.184
|
6.615 |
6.597
|
|
|
Provisions |
56.335
|
37.514 |
17.451
|
|
Total
Current Liabilities |
321.935
|
182.316 |
193.795 |
|
|
Net Current Assets |
(32.586)
|
23.255 |
43.263
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
649.058 |
675.854 |
609.522 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income/ Receipts |
1583.000 |
1156.000 |
1735.300 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL
(A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
73.900 |
106.900 |
105.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
43.400 |
28.400 |
25.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.500 |
78.500 |
80.700 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
77.700 |
56.600 |
39.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(47.200) |
21.900 |
41.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.900 |
1.200 |
20.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(51.100) |
20.700 |
20.600 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
0.000 |
0.000 |
0.900 |
|
|
|
Dividend Distribution Tax |
0.000 |
0.000 |
0.200 |
|
|
BALANCE CARRIED
TO THE B/S |
(51.100) |
20.700 |
19.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
12.546 |
2.791 |
7.069 |
|
|
TOTAL EARNINGS |
12.546 |
2.791 |
7.069 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Boughtouts |
3.959 |
23.461 |
24.475 |
|
|
|
Consumables and Spares |
1.944 |
2.518 |
0.703 |
|
|
|
Plant and Machinery |
7.684 |
33.179 |
26.922 |
|
|
TOTAL IMPORTS |
13.587 |
59.158 |
52.100 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(56.78) |
23.00 |
22.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.98)
|
1.89 |
2.37
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.89)
|
2.61 |
5.68
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22)
|
0.08 |
0.17
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.41
|
2.02 |
2.18
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90
|
1.13 |
1.22
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
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 |
Yes |
|
24) Banking facility details |
Yes |
|
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 |
NOTE:
The registered office of the company has been shifted from Plot No.127,
Sector I, Industrial Area, Pithampur, District Dhar – 454 775, Madhya Pradesh to
the present address w.e.f. 24.03.2008.
OPERATIONS
The Company’s sales for the year 2010-11 were Rs.1583.000 Millions including bought outs which shows a growth of 36.94% and Rs.946.000 Millions without the bought outs which shows growth 45.16 % over last year’s sales. Reason for growth in sales including bought outs was increase in prices of child parts like honey comb and mat which are used for assembling manivertors for their major customer Maruti Suzuki India Limited and start up of Pune foundry operations.
This growth in sales (without bought outs) during the year is due to increase of volumes from customers like Fiat India , Suzuki Power train India Limited, Tata Cummins Limited and General Motors India Private Limited
Their key customers during the year were Maruti Suzuki India Limited at 32%, Suzuki Power train at 20%, Tata Motors Limited at 17% and Fiat India Automobile Limited at 9%, of their total sales.
The Loss before Tax during the year was Rs.47.200 Millions during the year and Loss after Tax remain same at Rs.51.100 Millions. The reason for Loss was mainly due to the interest and depreciation of their Ranjangaon (Pune-Maharashtra) foundry and low utilization of capacity at Ranjangaon due to start up reasons.
OUTLOOK FOR THE
CURRENT YEAR
Despite the losses of last year, the company is very well positioned to continue its past growth trend during the current year as well. The existing customers like Suzuki Power train India Limited, Tata Cummins Limited have projected decent growth for the current year and other customers like GM, Ford and Bridgestone TVS India Private Limited start their new engine plant operations during the current year, where the company is already an approved source to supply its parts.
CONTINGENT
LIABILITIES (AS ON 31.03.2011)
· Service tax Show Cause Notice raised by Department of Rs. 1.917 Millions (previous Year Nil )
· Appeal pending before ITAT Indore for AY 2008-2009 for Rs0.027 Million (Previous year Nil)
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27310DL1995PTC176293 |
|
Name of the company |
SPM AUTOCOMP SYSTEMS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
30, Second Floor, Amrit Nagar, NDSE-1, New Delhi – 110 003, India E-Mail: nareshgupta@spmauto.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10259221 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi
Marg, Fort, Mumbai – 400001, Maharashtra, India E-mail : avan.doomasia@tatacapital.com |
|
Nature of description of the instrument creating or modifying the
charge |
Memorandum for recording extension of mortgage by deposit of title
deeds dated 21.05.2012 |
|
Date of instrument Creating the charge |
21.05.2012 |
|
Amount secured by the charge |
Rs.320.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of Interest: Long Term Lending Rate (LTLR) @ 15.75 % per annum Rate of Interest @ 3.75 % p.a. below LTLR , subject to minimum of 12 % p.a. Terms of Repayment: Principal amount to be repaid in 60 months Extent and Operation of the charge: The Charge extends to the due repayment of the principal amount of
Rs.320.000 Millions including Interest, Additional Interest, Charges, Costs,
Expenses and all other monies payable under the Loan Agreement dated
24.12.2010 In case of default in payment of interest, principal or monies payable
under the Loan Agreement from the due date additional interest @ 4% p.a. will
be levied as penal interest. |
|
Short particulars of the property charged |
All that piece and parcel of properties admeasuring 823 square meters,
out of the total area admeasuring 24,000 square meters, located at Village
Karegaon, Taluka Shirur, District at Pune in Ranjangaon MIDC. All that piece and parcel of properties admeasuring 23177 square
meters ,located at Village Karegaon, Taluka Shirur, District at Pune in
Ranjangaon MIDC. |
|
Particulars of the present modification |
By way of present modification the charge has been extended on the
property located at Village Karegaon, Taluka Shirur, District Pune in
Ranjangaon MIDC |
FIXED ASSETS:
·
Land Leasehold
·
Land Freehold
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Computers
·
Vehicles
·
Patterns and Fixtures
WEBSITE DETAILS:
PROFILE:
Subject is India's largest manufacturer of Exhaust Manifolds. Subject has set up state of the art manufacturing facilities at IMT Manasar, Gurgaon (Haryana) in Northern India which falls with-in the National Capital Region and is well connected with New Delhi.
Subject has been established primarily to cater to the needs of passenger car and commercial vehicles market with a focus on all international majors.
Subject has an impressive customer basket comprising of automotive companies like Maruti Suzuki, Tata Motors, Avtech Limited (earlier known as Hindustan Motors) manufacturing engines for Ford and GM India, JKM Daerim (for Hyundai India) and Eicher Motors. SPM enjoys a single source status with all its customers.
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.55.60 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.