MIRA
INFORM REPORT
|
Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ASIA MOTORWORKS LIMITED (w.e.f 28.01.2004) |
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|
|
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Formerly Known
As : |
ASIA OIL ENERGY LIMITED |
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Registered
Office : |
AMW, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
27.08.2002 |
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Com. Reg. No.: |
04-041192 |
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Capital
Investment/ Paid-up Capital: |
Rs.478.424 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U11201GJ2002PLC041192 |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter and Designer and of High Tonnage Vehicles. |
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|
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No. of
Employees: |
2500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1914000 |
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Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Asia Motorworks Holdings Limited. It is an
established company having moderate track. the company has incurred huge losses
in the current year i.e. 2009-10. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered normal for business dealings with some
caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rajesh |
|
Designation : |
Deputy Manager |
|
Contact No.: |
91-22-67101501 |
|
Date : |
07.05.2012 |
LOCATIONS
|
Registered Office/ Factory : |
AMW, |
|
Tel. No.: |
91-2832-2437000-10 (10 Lines) |
|
Fax No.: |
91-2832-243726 / 30 91-22-67101504 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
C 25, |
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Tel. No.: |
91-22-67101501 / 02 |
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Fax No.: |
91-22-67101504 |
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E-Mail : |
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Area : |
Owned |
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|
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Corporate Office : |
7th Floor, Tower-1, Equinox Business Park (Peninsula Techno
Park), Off Bandra Kurla Complex, L.B.S. Marg, Mumbai – 400070, India |
|
Tel. No.: |
91-22-40544545 |
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E-Mail : |
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|
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|
Regional and Development Office : |
Plot. No. D – 3,
Everest Nivara INfotech Park, TTC Industrials area, MIDC, Turbhe, Navi Mumbai
– 400706, India |
|
Tel. No.: |
0215-61131400 |
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|
|
|
Manufacturing Plant Office: |
34KM Milesdtone, |
|
Tel. No.: |
91-2832-243700/10 |
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Regional Officers |
Located at ·
Gurgaon ·
·
Kolkata ·
Guwahati ·
|
DIRECTORS
As on 39.09.2011
|
Name : |
Mr. Anirudh Bhuwalka |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 5, |
|
Date of Birth/Age : |
23.01.1975 |
|
Date of Appointment : |
06.10.2003 |
|
Din No.: |
00333042 |
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|
|
|
Name : |
Mr. Venkataraman Venkatesan |
|
Designation : |
Additional Director |
|
Address : |
F-401, The Atrium, Old No. 49, New No. 22, Kalakshetra Road,
Thiruvanmiyur, Chennai – 600 041, Tamil Nadu, India |
|
Date of Birth/Age : |
09.10.1939 |
|
Date of Appointment : |
19.05.2008 |
|
Din No.: |
00004010 |
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|
|
|
Name : |
Mr. Ramaswamy Venkatraman Iyer |
|
Designation : |
Nominee Director |
|
Address : |
F-31, |
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Date of Birth/Age : |
04.06.1955 |
|
Date of Appointment : |
06.03.2010 |
|
Din No.: |
00561569 |
|
|
|
|
Name : |
Mr. Manwant Singh Kulwant Singh Johar |
|
Designation : |
Additional Director |
|
Address : |
77 Nri Colony, Shreeji Nagar, Madhapar Tal Bhuj, Dist Kutch – 370020, |
|
Date of Birth/Age : |
21.07.1959 |
|
Date of Appointment : |
28.01.2011 |
|
Din No.: |
03306926 |
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|
|
|
Name : |
Mr. Tharmapuram Subramaniam Narayanasami |
|
Designation : |
Additional Director |
|
Address : |
Flat No.7a, The Lords, Mrc Nagar, Lmk, Opp. |
|
Date of Birth/Age : |
18.05.1949 |
|
Date of Appointment : |
28.01.2011 |
|
Din No.: |
01786981 |
|
|
|
|
Name : |
Mr. Jagannath Ranganathan |
|
Designation : |
Director |
|
Address : |
Old No. 106a, New No. 151, St. Mary’s Road, Chennai – 600 018, Tamil
Nadu, |
|
Date of Birth/Age : |
07.12.1943 |
|
Date of Appointment : |
19.05.2008 |
|
Din No.: |
00029184 |
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|
|
|
Name : |
Mr. Garigipati Subramanyam |
|
Designation : |
Whole-time director |
|
Address : |
304A, Road No 78, Jubilee Hills, |
|
Date of Birth/Age : |
12.09.1954 |
|
Date of Appointment : |
18.03.2011 |
|
Din No.: |
01308897 |
|
|
|
|
Name : |
Mr. Ramasubramanian Adhinarayanan |
|
Designation : |
Whole-time director |
|
Address : |
Flat No 301, 3rd Loor, Ekta Exotique, |
|
Date of Birth/Age : |
12.091954 |
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Date of Appointment : |
18.03.2011 |
|
Din No.: |
03507345 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Jagjivanbhai Darji |
|
Designation : |
Secretary |
|
Address : |
|
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Date of Birth/Age : |
08.12.1959 |
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Date of Appointment : |
22.12.2009 |
|
Pan No.: |
AAHPD3105E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 39.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Asia Motorworks Holdings Limited, |
|
38842340 |
|
Nitin Chamaria Nominee of Asia MotorWorks Holdings
Limited, |
|
10 |
|
Sajal Gupta, Nominee of Asia MotorWorks Holdings Limited, |
|
17 |
|
Asia MotorWorks Holdings Limited jointly with A.
Ramasubramanian, |
|
10 |
|
Asia MotorWorks Holdings Limited. Jointly with |
|
10 |
|
Asia MotorWorks Holdings Limited jointly with G.
Subramanayam, |
|
10 |
|
Mr.Anirudh Bhuwalka Nominee of Asia MotorWorks Holdings
Limited, |
|
10 |
As on 39.09.2011
Equity Shares Break - up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter and Designer and of High Tonnage Vehicles. |
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Exports : |
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Products : |
Raw Materials |
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Countries : |
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Imports : |
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Products : |
High Tonnage Vehicles |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS As on 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Heavy Commercial Vehicles |
NOS |
50000 |
5289 |
|
Steel Fabrication* |
MT |
30000 |
5476 |
|
Wheel Rim** |
NOS |
15000000 |
562414 |
|
Press Shop# |
MT |
50000 |
4949 |
|
|
|
|
|
Note:
The Installed capacity is as certified by
management
*excludes Job Work Manufacturing Quantity of
5475.54 MT (10132.12 MT Previous Year) done for others.
**excludes Job Work Manufacturing Quantity of
562414 Nos. (590990l Nos. Previous Year) done for others.
#excludes Job Work Manufacturing Quantity of
4948.96 MT (13014.38 MT Previous Year)
done for others.
GENERAL INFORMATION
|
Customers : |
Whole salers and Retailers |
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No. of Employees : |
2500 [Approximately] |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
Note: · Against first charge on project asset and second charge on current assets. · Against first charge on current asset and second charge on project assets. · Against hypothecation of Vehicles. · Represents: Acceptances of Capex Bills of Exchange (Against first charge on project asset and second charge on current assets).
Note: Includes Debentures - Fully convertible debenture of Rs.100 each 676.74 2) Debenture Application Money 1065.85 Represents:: Inter Corporate Deposits. Includes Inter Corporate Deposits 8,359.21 2) Other Long Term Liabilities 1227.95 |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
A P Rajagopalan and Company Chartered Accountants |
|
Address : |
No. 8, 1st Floor, Neelkanth Shopping Arcade, Mumbai – 400
071, |
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Pan No.: |
AAAFA3952B |
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Holding Company : |
Asia Motor works Holdings Limited CIN No. U67190MH2006PLC163842 |
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Subsidiaries : |
· AMW Commercial Vehicle Applications Limited CIN : U34105MH2010PLC198698 ·
·
Asia Motorworks ( |
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Other Related Party: |
· AMW-MGM Forgings Private Limited · AMW Autocomponent Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Share |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47842400 |
Equity Share |
Rs.10/- each |
Rs.478.424
Millions |
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Share |
Rs.10/- each |
Rs.750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58051560 |
Equity Share |
Rs.10/- each |
Rs.580.515
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
30.06.2010 [15 months ] |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
478.424 |
388.424 |
263.420 |
|
|
2] Share Application Money |
1020.916 |
1140.022 |
1231.000 |
|
|
3] Reserves & Surplus |
4301.316 |
3491.316 |
2367.560 |
|
|
4] (Accumulated Losses) |
(951.456) |
(526.907) |
0.000 |
|
|
NETWORTH |
4849.200 |
4492.855 |
3861.980 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9799.988 |
8575.225 |
7843.300 |
|
|
2] Unsecured Loans |
1492.568 |
2131.390 |
1992.970 |
|
|
TOTAL BORROWING |
11292.556 |
10706.615 |
9836.270 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.010 |
|
|
|
|
|
|
|
|
TOTAL |
16141.756 |
15199.470 |
13698.260 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13775.631 |
13058.797 |
8022.430 |
|
|
Capital work-in-progress |
193.377 |
414.680 |
3536.150 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.513 |
2.513 |
2.010 |
|
|
DEFERREX TAX ASSETS |
20.576 |
65.713 |
1.940 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2358.025
|
2219.592 |
1473.810
|
|
|
Sundry Debtors |
2271.112
|
1404.503 |
951.590
|
|
|
Cash & Bank Balances |
794.291
|
738.102 |
884.490
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
2225.047
|
1663.496 |
1068.120
|
|
Total
Current Assets |
7648.475
|
6025.693 |
4378.010 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
4671.923
|
3656.070 |
2070.050 |
|
|
Other Current Liabilities |
316.296
|
190.070 |
32.000
|
|
|
Provisions |
510.597
|
521.786 |
140.230
|
|
Total
Current Liabilities |
5498.816
|
4367.926 |
2242.28 |
|
|
Net Current Assets |
2149.659
|
1657.767 |
2135.730 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
16141.756 |
15199.470 |
13698.260 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
30.06.2010 [15 months ] |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11856.323 |
10787.571 |
5384.720 |
|
|
|
Other Income |
112.101 |
261.629 |
254.740 |
|
|
|
TOTAL (A) |
11968.424 |
11049.200 |
5639.460 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of materials changes in inventories |
9118.084 |
8251.648 |
|
|
|
|
Employee related Expenses |
628.029 |
788.205 |
|
|
|
|
Administrative selling other
Expenses |
1063.510 |
1112.582 |
|
|
|
|
TOTAL (B) |
10809.623 |
10152.435 |
5096.340 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) I |
1158.801 |
896.765 |
543.120 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1014.415 |
868.677 |
415.260 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
144.386 |
28.088 |
127.860 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
511.280 |
614.205 |
123.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT PERIOD
ITEMS BEFORE TAX |
(12.518) |
(5.806) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(379.412) |
(591.923) |
4.490 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
45.137 |
(63.771) |
[11.570] |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(424.549) |
(528.152) |
16.060 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(526.907) |
1.245 |
[14.810] |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(915.406) |
(526.907) |
1.250 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
55.31 |
196.120 |
118.680 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(9.43) |
(16.26) |
0.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
30.06.2010 [15 months ] |
31.03.2009 |
|
PAT / Total Income |
(%) |
(3.55)
|
(4.78) |
(0.28) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.20)
|
(5.49) |
(0.08) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.78
|
3.10 |
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08)
|
(0.13) |
(0.00) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.44
|
3.36 |
3.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39
|
1.38 |
1.95 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2011 |
30.06.2010 [15 months ] |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
|
|
|
|
|
Creditors due others |
4671.923 |
3656.070 |
0.000 |
|
Other advance received |
316.296 |
190.007 |
0.000 |
|
Total Out Standing due to creditors |
|
|
2070.050 |
|
Total |
4988.219 |
3846.077 |
2070.050 |
Note: The Registered
Office of the company has been shifted from 34 KM Milestone,
OPERATIONS
Heavy Commercial
Vehicles
The Company
recorded sales of 5543 vehicles during this period (prior period 4518
vehicles), resulting in a turnover of Rs.10340 million (prior period Rs.9141
million). Overall volumes on a pro rata basis doubled, in spite of severe
competition from well-established players. The Company has made significant
inroads into the tipper segment and expects to further improve its share in
this segment in the current period. A market share of 26% in the HCV Tipper
segment is a commendable achievement. The Company successfully introduced BSIII
compliant vehicles as per the next stage of emission norms and also extended
its marketing network to include
Shri J.P. Gupta,
Transport Commissioner of
The second
milestone was the award to The Company of “Truck Application Builder of the
Year 2011” in May. This is a prestigious award conferred by the jury of Zee
Business and CV magazine, in association with Apollo Tyres. This prestigious
award is a result of the untiring efforts of Their research scientists in
designing specialized applications such as tippers, trailers and cement mixers
of international quality at an affordable price. These products havebeen
launched under the brand name of Transztar. Tranzstar’s capacity of4000
trailers is the largest single location capacity in India and the plant
manufactures trailers for customers outside the AMW fold also.
With the expansion
of the service and parts network, the after-market support gained considerable
traction during the period. With a centralized parts warehouse in Pune,
regional warehouses and authorized dealers across the country, spare parts
sales contributed revenues which opened up a new revenue stream, while
providing the support required in the field.
The Company’s sale of
refurbished vehicles under the Pre Owned Vehicles programme, kicked off
successfully during the period, with resale prices fetching 10 to 15 % higher
prices as compared to competitor models in the same category. The period also saw a marked improvement in confidence
among financiers who offered extremely attractive terms for new as well as
refurbished vehicles.
The Company’s R and
D and product development programme gathered pace with the commissioning of the
new R and D Centre at Navi Mumbai. Over 250 scientists and engineers design and
develop new products and product modifications aimed at increasing productivity
and reliability of AMW vehicles. The team effectively translated market feed
back into product innovations and has been considerable factor in the change that AMW seeks to bring
to the Indian trucking industry. The details of R and D expenditure and
activities are given in the relevant section.
Auto Components:
The Company
produced 5,62,414 wheel rims during the period as compared to 8,22,123 during
the prior period. The wheel rim facility is fully integrated with six
production lines that manufacture steel wheels for passenger cars, commercial
vehicles and agricultural tractors. The period
saw the commissioning of a capacity of seven million wheel rims – five
million car wheels and 2 million truck and tractor wheels. Corresponding
increases in press shop capacity for manufacturing discs and tool room capacity
for development of new dies and maintenance were also completed. The company’s clientele
in this segment include MSIL, GM, Tata Motors, MandM and IVECO.
The Press Shop now
has high quality, high-speed presses for manufacture of sheet metal stampings
for domestic as well as international
companies in
automotive and white goods industries including, GM, Tata Nano, Tecumseh,
Emerson, etc. The Roll forming division continued to make gains in transport
and industrial projects with crash barriers, cable trays and purlins. Some of
its major customers are, Larsen and Toubro, Gammon
During the period ,
Essar Steel inaugurated its service centre at Bhuj, ensuring unrestricted
supply of high quality flat steel for the division’s operations.
AMW Auto Component
Limited (“AACL”) was incorporated on June 16, 2009 and commenced its operations
from January 16, 2011
DEMERGER
The two main
businesses of the company are the Heavy Commercial Vehicle division and the
Auto Component division. It is proposed to demerge the two business of the
company into two companies viz. AMW Motors Limited. (housing the Heavy
Commercial Vehicle business) and AMW Auto component Limited., (housing the Auto
Component business). As a result of this demerger, The Company will be able to
manage each business with greater focus, and manage/reduce risks associated
with each of the businesses. The appointed date of the demerger scheme is
proposed as April 1, 2011. The share exchange ratio for each share of Asia
MotorWorks Limited. held, would be decided based on fair valuation of each of
the business as at March 31, 2011.
The application and
petition for the same are proposed to be filed in Gujarat High Court, which has
the jurisdiction for the same. Asia MotorWorks Holdings Limited. would continue
to be the holding company of the two companies after the demerger
AS PER WABSITE DETAILS
Press Release
AMW sales zoom 50% during FY-2012 09-04-2012
Truck sales cross
10,000 units
Mumbai:
AMW's sales growth is well in excess of the overall HCV market which is estimated to havegrown by 8% during 2011-12. During the previous year AMW also launched 11 new models including the 1618 Tipper model, as well as its haulage range of trucks, which gives the company expanded access to the overall HCV market.
This strong performance is all the more creditable considering the headwinds that have affected the Indian commercial vehicle market during the previous year. These included slowing GDP growth, tighter liquidity and policy paralysis. Despite these challenges, AMW has seen growing demand for its models across the country.
AMW already has 25,000 trucks on Indian roads since it began commercial production in 2008. The company also added 60 new dealers during the previous year and has won over customers with its focus on operator productivity and driver comfort.
AMW Profile
Asia MotorWorks (AMW) is
Rolling out its trucks in 2008, AMW has increased its
presence in a competitive market place through its products and wide service
network. AMW is an intrinsic part of
AMW is also the fastest growing truck brand in
The company has a widespread and growing dealer and service
network across
AMW offers trucks ranging from 16 to 49 tons and has pioneered several segments
in the Indian CV market. The AMW 49 ton model created the segment and was
AMW won the 'Truck of the Year' award from NDTV in January 2008. In addition, it also got the coveted 'CV Innovation of the Year 2009-10' award for its 3123 model. AMW CV Applications was given the 'Truck Application Builder of the Year- 2010' award for its Tranztar brand of fully built vehicles.
State of the Art Plant at Bhuj
AMW's fully integrated manufacturing facility in Bhuj,
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 |
Rs53.46 |
|
|
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
BYI |
|
|
|
|
Report Prepared
by : |
SBA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.