1. Summary Information
|
|
|
Country |
India |
|
Company Name |
MANDO INDIA
LIMITED |
Principal Name 1 |
Mr. Pravesh Kumar Srivastava |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Madhavan Venkatesan |
|
|
|
Registration # |
18-039028 |
|
Street Address |
F 64, |
||
|
Established Date |
15.09.1997 |
SIC Code |
-- |
|
Telephone# |
91-44-27156045 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-27156044 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Brakes and Servo Brakes |
|
|
# of employees |
Not Available |
Product Name 2 |
Shock Absorber |
|
Paid up capital |
Rs.237,878,790/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 67.00% Bodies corporate – 33 % |
Banking |
Standard
Chartered Bank |
|
Public Limited Corp. |
NO |
Business Period |
15 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
South Korea |
Mando Corporation |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,330,933,000 |
Current Liabilities |
1048,330,000 |
|
Inventories |
432,314,000 |
Long-term Liabilities |
1221,589,000 |
|
Fixed Assets |
1,433,159,000 |
Other Liabilities |
112,508,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,382,427,000 |
|
Invest& other Assets |
22,545,000 |
Retained Earnings |
598,645,000 |
|
|
|
Net Worth |
836,524,000 |
|
Total Assets |
3,218,951,000 |
Total Liab. & Equity |
3,218,951,000 |
|
Total Assets (Previous Year) |
3,545,236,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
5016,010,000 |
Net Profit |
93,343,000 |
|
Sales(Previous yr) |
5147,047,000 |
Net Profit(Prev.yr) |
343,381,000 |
MIRA
INFORM REPORT
|
Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
MANDO INDIA LIMITED ( w.e.f.13.03.2007) |
|
|
|
|
Formerly Known
As : |
MANDO BRAKE SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F 64, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.09.1997 |
|
|
|
|
Com. Reg. No.: |
18-039028 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.237.879 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35999TN1997PLC039028 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability
Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Brake
Systems, RR Calipher, FR Calpiher, Master Booster |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears some dip in the profitability of the company. However, 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 terns and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Factory : |
F 64, |
|
Tel. No.: |
91-44-27156045-47 |
|
Fax No.: |
91-44-27156044 |
|
Email : |
|
|
Website : |
|
|
Area : |
8.5 Acres |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Pravesh Kumar Srivastava |
|
Designation : |
Director |
|
Address : |
4 A, |
|
Date of Birth/Age : |
04.02.1955 |
|
Date of Appointment : |
01.01.2006 |
|
DIN No.: |
02211719 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U35999TN1997PLC039028 |
MANDO
INDIA LIMITED |
Director |
1/1/2008 |
1/1/2006 |
- |
Active |
NO |
|
2 |
U51505DL2008PTC179801 |
VALEO
LIGHTING SYSTEMS INDIA PRIVATE LIMITED |
Additional
director |
4/11/2008 |
4/11/2008 |
30/09/2009 |
Active |
NO |
|
3 |
U32102DL2007FTC164995 |
TAKATA
INDIA PRIVATE LIMITED |
Nominee
director |
2/12/2008 |
2/12/2008 |
- |
Active |
NO |
|
4 |
U29130TN1997FTC037962 |
FAURECIA
EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED |
Director |
12/12/2008 |
12/12/2008 |
- |
Active |
NO |
|
5 |
U74899DL1966PLC004919 |
MAHLE
FILTER SYSTEMS (INDIA) LIMITED |
Alternate
director |
2/6/2009 |
2/6/2009 |
10/6/2009 |
Active |
NO |
|
6 |
U74999MH1975PLC206199 |
ANAND
AUTOMOTIVE LIMITED |
Director |
29/09/2011 |
24/09/2010 |
- |
Active |
NO |
|
7 |
U35914PN2001FTC015991 |
YUTAKA
AUTOPARTS PUNE PRIVATE LIMITED |
Director
appointed in casual vacancy |
24/01/2011 |
24/01/2011 |
- |
Active |
NO |
|
8 |
U51909DL1992PLC049978 |
CHANG
YUN INDIA LIMITED |
Director |
1/8/2011 |
30/03/2011 |
- |
Active |
NO |
|
9 |
U29130TN2008PTC066530 |
C Y
MYUTEC AUTOMOTIVE INDIA PRIVATE LIMITED |
Director |
29/06/2011 |
29/06/2011 |
- |
Active |
NO |
|
Name : |
Mr. Madhavan Venkatesan |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 4A, |
|
Date of Birth/Age : |
15.05.1962 |
|
Date of Appointment : |
23.08.2006 |
|
DIN No.: |
00104932 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28910DL1991PTC127698 |
ANAND
TECHNOLOGY RESOURCE PARK PRIVATE LIMITED |
Director |
13/10/2004 |
13/10/2004 |
- |
Amalgamated |
NO |
|
2 |
U35999TN1997PLC039028 |
MANDO
INDIA LIMITED |
Managing
director |
1/1/2008 |
23/08/2006 |
- |
Active |
NO |
|
Name : |
Mr. Yoon Yeong Bok |
|
Designation : |
Managing Director |
|
Address : |
H-302, Gray Shot Bishop, Garden Extension, Raja Anna Malai Puram,
Chennai, |
|
Date of Birth/Age : |
02.09.1955 |
|
Date of Appointment : |
01.02.2009 |
|
DIN No.: |
02564965 |
|
Name : |
Mr. Sandeep Balooja |
|
Designation : |
Additional Director |
|
Address : |
S.No.32/2, Rakshak Society, Pimple Nilakh, Pune – 411 027, |
|
Date of Birth/Age : |
05.09.1957 |
|
Date of Appointment : |
23.10.2009 |
|
DIN No.: |
02940730 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U99999MH1998PLC118876 |
HALDEX
INDIA LIMITED |
Director
appointed in casual vacancy |
30/09/2009 |
30/09/2009 |
- |
Active |
NO |
|
2 |
U35999TN1997PLC039028 |
MANDO
INDIA LIMITED |
Director |
25/09/2010 |
23/10/2009 |
- |
Active |
NO |
|
3 |
U99999DL1959PLC176013 |
AUTOMOTIVE
COMPONENT MANUFACTURERS ASSOCIATION OF INDIA |
Director |
27/08/2010 |
27/08/2010 |
- |
Active |
NO |
|
Name : |
Mr. Seshadri Sarathi |
|
Designation : |
Director |
|
Address : |
G2, Melody Castle, No.3, Soundrapandian
Salai, Ashok Nagar, Chennai – 600083, Tamil Nadu, India |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
01639258 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U65993MH1966PTC206200 |
ASIA
INVESTMENTS PRIVATE LIMITED |
Director |
29/03/2004 |
29/03/2004 |
16/01/2008 |
Active |
NO |
|
2 |
U29130TN1997FTC037962 |
FAURECIA
EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED |
Director |
9/9/2010 |
9/7/2007 |
- |
Active |
NO |
|
3 |
U29309TN1997PLC038508 |
VALEO
FRICTION MATERIALS INDIA LIMITED |
Director |
12/7/2010 |
16/03/2010 |
- |
Active |
NO |
|
4 |
U35999TN1997PLC039028 |
MANDO
INDIA LIMITED |
Director |
18/03/2010 |
18/03/2010 |
- |
Active |
NO |
|
5 |
U35914PN2001FTC015991 |
YUTAKA
AUTOPARTS PUNE PRIVATE LIMITED |
Additional
director |
24/01/2011 |
24/01/2011 |
- |
Active |
NO |
|
Name : |
Mr. Jeong Won Son |
|
Designation : |
Director |
|
Address : |
103-1501, Hyundai Home Town, Apt,
Hogye - 2, Dong, Dongan-Gu, Anyang, 613447, Korea |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
02713108 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U50300TN2006FTC061618 |
MANDO
INDIA STEERING SYSTEMS PRIVATE LIMITED |
Managing
director |
2/1/2009 |
2/1/2009 |
- |
Active |
NO |
|
Name : |
Mr. Song Bum Suk |
|
Designation : |
Director |
|
Address : |
Unit 504-1005 Jugong 5-Cha Apartment,
Eoyang-Dong, Iksan-Si, Jeollabuk-Do, Iksan, 570735, Korea |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
02990303 |
|
Name : |
Mr. Kim Young Sung |
|
Designation : |
Director |
|
Address : |
301-301, Joong-Ang Heights Ville 80-1
.Geumgok-Dong, Bundang-Gu, Seongnam-Si, Gyeonggi Do, 463804 Korea |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
03121706 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U50300TN2006FTC061618 |
MANDO
INDIA STEERING SYSTEMS PRIVATE LIMITED |
Director |
24/09/2010 |
17/03/2010 |
- |
Active |
NO |
|
2 |
U35999TN1997PLC039028 |
MANDO
INDIA LIMITED |
Director |
18/03/2010 |
18/03/2010 |
- |
Active |
NO |
|
Name : |
Mr. Frank Kun Chung |
|
Designation : |
Director |
|
Address : |
102-702, Pangyowonmaeul Apartment,
Pangyo-Dong, Bundang-Gu, Seongnam-Si, Gyeonggi-Do, Korea-463410 |
|
Date of Appointment : |
21.03.2011 |
|
DIN No.: |
03505007 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U35999TN1997PLC039028 |
MANDO
INDIA LIMITED |
Director |
21/03/2011 |
21/03/2011 |
- |
Active |
NO |
|
2 |
U50300TN2006FTC061618 |
MANDO
INDIA STEERING SYSTEMS PRIVATE LIMITED |
Additional
director |
21/03/2011 |
21/03/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Samudrala C Sai Narayanan |
|
Designation : |
Secretary |
|
Address : |
Nithillam N0.7A, Indira Nagar, 2nd
Main Street, Vengaivasal Via Selaiyur, Chennai – 600126, Tamil Nadu, India |
|
Date of Appointment : |
21.02.2011 |
|
PAN No.: |
AEDPN3285P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ansysco Limited, India |
|
7849995 |
|
Mando Corporation, South Korea |
|
15937879 |
|
C.S. Patel Jointly with K.K. Jaggi |
|
1 |
|
N. K. Subramaniam Jointly with K.K. Jaggi |
|
1 |
|
Deepak Chopra Jointly with K.K. Jaggi |
|
1 |
|
K.K. Jaggi Jointly with Deepak Chopra |
|
1 |
|
A.K. Agarwal Jointly with K.K. Jaggi |
|
1 |
|
|
|
|
|
Total |
|
23787879 |
As on 29.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage of Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
67.00 |
|
Bodies
corporate |
|
33.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Brake Systems, RR Calipher, FR Calpiher,
Master Booster |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2009)
|
Particulars |
Unit |
|
Installed
Capacity (Annual)
|
Actual
Production |
|
Hydraulic Brake Systems Assembly |
Nos. |
|
800000 |
532637 |
|
Shock Absorber Systems Assembly |
Nos. |
|
600000 |
334116 |
|
Brake |
Nos. |
|
-- |
60000 |
|
|
|
|
|
|
GENERAL INFORMATION
|
Customers: |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Repayable within one year - Rs.729. 143 millions. # A Letter of Comfort has been issued by the Parent Company. * An unconditional and irrevocable Corporate guarantee has been
issued by the Holding Company.
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSRR and Company Chartered Accountants |
|
Address : |
10, Mahtma Gandhi
Road, Next To Ranjith Hotel, Nungambhakkam, Chennai 600034, Tamil Nadu, India |
|
PAN No.: |
AAKFB1884H |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
Associates : |
|
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2011
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 |
|
23787879 |
Equity Shares |
Rs.10/- each |
Rs.237.879 Millions |
|
|
|
|
|
Note:
Of the above 15937879 equity shares are held by
the Holding Company Mando Corporation, South Korea and its nominees.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
237.879 |
237.879 |
237.879 |
|
|
2] Share Application Money Pending Allotment |
0.000 |
0.517 |
0.517 |
|
|
3] Reserves & Surplus |
598.645 |
505.301 |
279.074 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(89.322) |
|
|
NETWORTH |
836.524 |
743.697 |
428.148 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
39.622 |
|
|
2] Unsecured Loans |
1221.589 |
1630.621 |
1595.293 |
|
|
TOTAL BORROWING |
1221.589 |
1630.621 |
1634.915 |
|
|
DEFERRED TAX LIABILITIES |
86.372 |
132.618 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2144.485 |
2506.936 |
2063.063 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1433.159 |
1553.401 |
1577.489 |
|
|
Capital work-in-progress |
22.545 |
22.458 |
100.213 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
45.424 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
432.314
|
484.645
|
413.380
|
|
|
Sundry Debtors |
604.193
|
768.902
|
745.623
|
|
|
Cash & Bank Balances |
281.615
|
225.879
|
50.685
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
445.125
|
489.951
|
450.323
|
|
Total
Current Assets |
1763.247
|
1969.377 |
1660.011
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1022.673
|
929.261
|
1274.758
|
|
|
Other Current Liabilities |
25.657
|
32.892
|
28.695
|
|
|
Provisions |
26.136
|
76.147
|
16.621 |
|
Total
Current Liabilities |
1074.466
|
1038.300 |
1320.074
|
|
|
Net Current Assets |
688.781
|
931.077 |
339.937
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2144.485 |
2506.936 |
2063.063 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5016.010 |
5147.047 |
4152.408 |
|
|
|
Other Income |
75.491 |
323.107 |
47.618 |
|
|
|
TOTAL (A) |
5091.501 |
5470.154 |
4200.026 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3985.993 |
4135.762 |
|
|
|
|
Manufacturing service costs |
124.944 |
103.411 |
|
|
|
|
Contract cost |
35.040 |
29.208 |
|
|
|
|
Employee related expenses |
206.971 |
165.483 |
|
|
|
|
Administrative selling other expenses |
255.080 |
265.450 |
|
|
|
|
Research development expenditure |
4.361 |
6.923 |
|
|
|
|
TOTAL (B) |
4612.389 |
4706.237 |
4339.944 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
479.112 |
763.917 |
(139.918) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.245 |
74.467 |
60.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
425.867 |
689.450 |
( 199.933) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
292.063 |
168.028 |
166.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
133.804 |
521.422 |
(366.653) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
40.461 |
178.041 |
(127.353) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
93.343 |
343.381 |
(239.300) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
226.227 |
(117.154) |
122.146 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
319.570 |
226.227 |
(117.154) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2264.793 |
1740.012 |
1740.012 |
|
|
|
Stores & Spares |
2.225 |
1.684 |
1.684 |
|
|
|
Capital Goods |
31.685 |
21.145 |
21.145 |
|
|
TOTAL IMPORTS |
2298.703 |
1762.841 |
1762.841 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.92 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.83
|
6.28 |
(5.70)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.67
|
10.13 |
(8.83)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.19
|
20.68 |
(11.33)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.70 |
(0.86)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.74
|
3.59 |
6.90
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.90 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from Fagun Mansion, 26 C-IN-C Road, Chennai- 600 105, Tamilnadu to the present address w.e.f. 01.10.2009
FIXED ASSETS:
- Buildings on
- Plant and
Machinery
- Tools, Jigs
and Fixtures
- Computers
- Furniture and
Fittings
- Vehicles
- Technical
Know-how
WEBSITE DETAILS:
Profile:
Subject was set up in collaboration with Mando Corporation,
The company started the commercial production for HMI in the year 1998. The company got its 100 PPM certification from Hyundai and TS16949 certification in the year 2002. In 2005 there was ISO 14001 certification. In 2004 the company started supplying to Ford Fiesta and became supplier of Actuation Parts for Mahindra Renault Logan in 2007. In the year 2007 the company was awarded with Capacity expansion and Q1 certification from Ford. Hyundai Motors honored subject with 5 Star Award in the year 2008.
The products at the company can be broadly categories into two segments Brakes and Suspensions. Master Cylinder and Booster, Caliper, Drum Brake are under the brake category while Suspension Strut, and Shock Absorbers are under the suspension category.
Subject products are designed in
Subject also has a Technical License with Continental Automotive System of Germany for manufacturing Brake Systems.
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.50.31 |
|
|
1 |
Rs.79.05 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.