|
Report Date : |
25.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANDEN VIKAS ( |
|
|
|
|
Registered
Office : |
12-A, Shivaji Marg, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.09.1982 |
|
|
|
|
Com. Reg. No.: |
55-014381 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.146.250
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202DL1982PLC014381 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS00104G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS3174M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures
of Automotive Air Conditioning Systems. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The financial
detail is missing from government department. However from the previous year
record company having satisfactory tracks record. Trade relations are
reported to be fair. Business is active. Payments are reported to be unknown.
The company can be considered for business dealings with slight
caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered / Corporate Office : |
12-A, Shivaji Marg, |
|
Tel. No.: |
91-11-42070707 |
|
Fax No.: |
91-11-25451004 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No.65, Sector 27A, |
|
Tel. No.: |
91-129-4196141 / 4196000 |
|
Fax No.: |
91-129-4196196 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. 45-46, Industrial Area, NIT, Faridabad – 121 001, Haryana,
India |
|
Tel No.: |
91-129-4093000/4093100 |
|
Fax No.: |
91-129-4023105 |
|
|
|
|
Factory 3 : |
73/8, Delhi-Mathura Road, Village Mitnol, Aurangabad, Tehsil Hodal,
District Faridabad – 121 105, Haryana, India |
|
Tel No.: |
91-1275-263801/263802 |
|
Email: |
|
|
|
|
|
Regional Office 1 : |
GAT No.1224/1, Sanaswadi, Taluka-Shirur, District Pune-412208,
Maharashtra, India |
|
|
|
|
Regional Office 2 : |
Kamala Arcade, 669, Anna Salai, Chennai – 600 006, |
|
Tel. No.: |
91-44-28297384 |
|
Fax No.: |
91-44-28297273 |
|
E-Mail : |
DIRECTORS
AS ON 23.07.2012
|
Name : |
Mr. Praveen Agarwal |
|
Designation : |
Managing Director |
|
Address : |
89, Sunder Nagar, |
|
Date of Birth/Age : |
03.09.1953 |
|
Date of Appointment : |
23.09.1982 |
|
DIN No.: |
00036445 |
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 |
U29306DL1981PTC012616 |
S.
S. N. INTERNATIONAL PRIVATE LIMITED |
Director |
09/11/1981 |
09/11/1981 |
- |
Active |
NO |
|
2 |
U45202DL1982PLC014381 |
SANDEN
VIKAS (INDIA) LIMITED |
Managing
director |
01/04/2011 |
23/09/1982 |
- |
Active |
NO |
|
3 |
U74899DL1987PTC029261 |
LIVVEL
PRODUCTS PRIVATE LIMITED |
Director |
18/09/1987 |
18/09/1987 |
20/04/2011 |
Active |
NO |
|
4 |
U24290DL1987PLC028569 |
PRANAV
VIKAS (INDIA) LIMITED |
Director |
01/04/1995 |
01/04/1995 |
- |
Active |
NO |
|
5 |
U74899DL1991PTC044234 |
ECOCAT
(INDIA) PRIVATE LIMITED. |
Whole-time
director |
01/04/2010 |
17/07/1995 |
- |
Active |
NO |
|
6 |
U74899DL1998PTC091512 |
KENMORE
VIKAS (INDIA) PRIVATE LIMITED |
Director |
05/01/1998 |
05/01/1998 |
- |
Active |
NO |
|
7 |
U34300DL1998PTC093446 |
AUTOVIKAS
SALES AND SERVICE PRIVATE LIMITED |
Director |
29/04/1998 |
29/04/1998 |
- |
Active |
NO |
|
8 |
U29306DL1993PTC052660 |
GALLAY
INDIA PRIVATE LIMITED |
Director |
12/11/1998 |
12/11/1998 |
15/05/2012 |
Active |
NO |
|
9 |
U24299DL2003PTC118414 |
CHEMVIKAS
ENGINEERING PRIVATE LIMITED |
Director |
10/01/2003 |
10/01/2003 |
04/06/2007 |
Active |
NO |
|
10 |
U34506DL1996PTC079231 |
KESELEC
SCHREDER PRIVATE LIMITED |
Director |
02/09/2003 |
02/09/2003 |
- |
Active |
NO |
|
11 |
U27310DL2004PTC131667 |
RPS
VIKAS CASTINGS PRIVATE LIMITED |
Director |
29/12/2004 |
29/12/2004 |
- |
Active |
NO |
|
12 |
U45200DL2007PTC158655 |
SALASAR
PROPBUILD PRIVATE LIMITED |
Director |
05/02/2007 |
05/02/2007 |
- |
Active |
NO |
|
13 |
U28910DL2007PTC158761 |
BORGWARNER
EMISSIONS SYSTEMS INDIA PRIVATE LIMITED |
Whole-time
director |
01/03/2010 |
08/02/2007 |
05/08/2011 |
Active |
NO |
|
14 |
U74899DL1989PTC034640 |
SUMEDHA
IMPEX PRIVATE LIMITED |
Director |
25/09/2007 |
04/06/2007 |
- |
Active |
NO |
|
15 |
U27300DL2007PTC165006 |
SATA
VIKAS INDIA PRIVATE LIMITED |
Director |
20/06/2007 |
20/06/2007 |
- |
Active |
NO |
|
16 |
U74999DL2007PTC212859 |
DAYCO
VIKAS ENGINE SYSTEMS PRIVATE LIMITED |
Director |
24/04/2009 |
29/11/2007 |
- |
Active |
NO |
|
17 |
U27203MH2005PLC151845 |
PACIFIC
ALLOYS LIMITED |
Director |
30/09/2008 |
08/02/2008 |
- |
Active |
NO |
|
18 |
U34100DL2009PTC188549 |
SYSTEMES
MOTEURS INDIA PRIVATE LIMITED |
Director |
18/03/2009 |
18/03/2009 |
15/10/2010 |
Active |
NO |
|
19 |
U35300DL2010PTC206230 |
DAYCO
VIKAS POWER TRANSMISSION PRIVATE LIMITED |
Director |
23/07/2010 |
23/07/2010 |
- |
Active |
NO |
|
20 |
U74899DL1993PTC051618 |
RISPANA
LEASING FINANCE AND INVESTMENTS PRIVATE LIMITED |
Director |
22/09/2010 |
27/08/2010 |
- |
Active |
NO |
|
21 |
U35999DL2011PTC226494 |
SANDEN
VIKAS PRECISION PARTS PRIVATE LIMITED |
Director |
19/10/2011 |
19/10/2011 |
- |
Active |
NO |
|
22 |
U27310DL2005PTC239416 |
GARIMA
VIKAS METALS PRIVATE LIMITED |
Additional
director |
16/11/2011 |
16/11/2011 |
- |
Active |
NO |
|
23 |
U35990DL2012PTC238732 |
VIKAS
ALTECH PRIVATE LIMITED |
Director |
12/07/2012 |
12/07/2012 |
- |
Active |
NO |
|
Name : |
Mr. Naveen Agarwal |
|
Designation : |
Director |
|
Address : |
315, The Aralivas, DLF Golf Links, |
|
Date of Birth/Age : |
12.06.1959 |
|
Date of Appointment : |
06.11.1989 |
|
DIN No.: |
00036585 |
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 |
U29306DL1981PTC012616 |
S.
S. N. INTERNATIONAL PRIVATE LIMITED |
Director |
09/11/1981 |
09/11/1981 |
21/02/2011 |
Active |
NO |
|
2 |
U24290DL1987PLC028569 |
PRANAV
VIKAS (INDIA) LIMITED |
Director |
01/04/2012 |
10/07/1987 |
- |
Active |
NO |
|
3 |
U45202DL1982PLC014381 |
SANDEN
VIKAS (INDIA) LIMITED |
Whole-time
director |
01/04/2011 |
06/11/1989 |
- |
Active |
NO |
|
4 |
U74899DL1993PTC051618 |
RISPANA
LEASING FINANCE AND INVESTMENTS PRIVATE LIMITED |
Director |
07/10/1994 |
07/10/1994 |
24/02/2011 |
Active |
NO |
|
5 |
U74899DL1991PTC044234 |
ECOCAT
(INDIA) PRIVATE LIMITED. |
Director |
17/07/1995 |
17/07/1995 |
18/03/2008 |
Active |
NO |
|
6 |
U74899DL1998PTC091512 |
KENMORE
VIKAS (INDIA) PRIVATE LIMITED |
Director |
05/01/1998 |
05/01/1998 |
28/05/2010 |
Active |
NO |
|
7 |
U74899DL1989PTC034640 |
SUMEDHA
IMPEX PRIVATE LIMITED |
Director |
12/01/2001 |
12/01/2001 |
04/06/2007 |
Active |
NO |
|
8 |
U34300DL1998PTC093446 |
AUTOVIKAS
SALES AND SERVICE PRIVATE LIMITED |
Director |
30/09/2003 |
30/09/2003 |
04/06/2007 |
Active |
NO |
|
9 |
U27310DL2004PTC131667 |
RPS
VIKAS CASTINGS PRIVATE LIMITED |
Director |
29/12/2004 |
29/12/2004 |
05/06/2010 |
Active |
NO |
|
10 |
U28910DL2007PTC158761 |
BORGWARNER
EMISSIONS SYSTEMS INDIA PRIVATE LIMITED |
Additional
director |
29/04/2008 |
29/04/2008 |
04/06/2009 |
Active |
NO |
|
11 |
U35999DL2011PTC226494 |
SANDEN
VIKAS PRECISION PARTS PRIVATE LIMITED |
Director |
19/10/2011 |
19/10/2011 |
- |
Active |
NO |
|
Name : |
Mr. Takamasa Okura |
|
Designation : |
Whole Time Director |
|
Address : |
1306-A, Beverley Park-II, DLF, Phase II, Gurgaon – 122 002, |
|
Date of Birth/Age : |
20.03.1949 |
|
Date of Appointment : |
15.12.2008 |
|
DIN No.: |
02277300 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U24290DL1987PLC028569 |
PRANAV
VIKAS (INDIA ) LIMITED |
Director |
20/08/2008 |
26/07/2008 |
Active |
NO |
|
2 |
U45202DL1982PLC014381 |
SANDEN
VIKAS (INDIA) LIMITED |
Whole-time
director |
15/12/2010 |
15/12/2008 |
Active |
NO |
|
3 |
U35999DL2011PTC226494 |
SANDEN
VIKAS PRECISION PARTS PRIVATE LIMITED |
Director |
23/08/2012 |
20/07/2012 |
Active |
NO |
|
Name : |
Mr. Robert Kheng |
|
Designation : |
Director |
|
Address : |
11, |
|
Date of Birth/Age : |
29.12.1954 |
|
Date of Appointment : |
11.12.2009 |
|
DIN No.: |
02764104 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45202DL1982PLC014381 |
SANDEN
VIKAS (INDIA) LIMITED |
Director |
23/07/2010 |
11/12/2009 |
Active |
NO |
|
Name : |
Mr. Yuichi Yasui |
|
Designation : |
Director |
|
Address : |
Kameido 3-38-16, Koto-KU, |
|
Date of Birth/Age : |
03.12.1954 |
|
Date of Appointment : |
03.03.2008 |
|
DIN No.: |
02093735 |
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 |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45202DL1982PLC014381 |
SANDEN
VIKAS (INDIA) LIMITED |
Director |
22/03/2010 |
03/03/2008 |
Active |
NO |
|
2 |
U24290DL1987PLC028569 |
PRANAV
VIKAS (INDIA) LIMITED |
Director |
20/08/2008 |
26/03/2008 |
Active |
NO |
|
Name : |
Mrs. Puja Agarwal |
|
Designation : |
Director |
|
Address : |
89, Sunder Nagar, |
|
Date of Birth/Age : |
17.02.1957 |
|
Date of Appointment : |
12.06.2002 |
|
DIN No.: |
01147894 |
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 |
U74899DL1989PTC034640 |
SUMEDHA
IMPEX PRIVATE LIMITED |
Director |
12/01/1989 |
12/01/1989 |
- |
Active |
NO |
|
2 |
U24290DL1987PLC028569 |
PRANAV
VIKAS (INDIA) LIMITED |
Whole-time
director |
01/10/2010 |
09/04/1991 |
31/03/2012 |
Active |
NO |
|
3 |
U45202DL1982PLC014381 |
SANDEN
VIKAS (INDIA) LIMITED |
Director |
12/06/2002 |
12/06/2002 |
- |
Active |
NO |
|
4 |
U74899DL1987PTC029261 |
LIVVEL
PRODUCTS PRIVATE LIMITED |
Director |
14/09/2002 |
14/09/2002 |
04/06/2007 |
Active |
NO |
|
5 |
U34300DL1998PTC093446 |
AUTOVIKAS
SALES AND SERVICE PRIVATE LIMITED |
Director |
30/09/2003 |
30/09/2003 |
04/06/2007 |
Active |
NO |
|
6 |
U74899DL1993PTC051618 |
RISPANA
LEASING FINANCE AND INVESTMENTS PRIVATE LIMITED |
Director |
26/09/2005 |
26/09/2005 |
- |
Active |
NO |
|
7 |
U29306DL1981PTC012616 |
S.
S. N. INTERNATIONAL PRIVATE LIMITED |
Director |
27/09/2011 |
28/09/2010 |
- |
Active |
NO |
|
8 |
U74899DL1998PTC091512 |
KENMORE
VIKAS (INDIA) PRIVATE LIMITED |
Director |
07/09/2012 |
02/04/2012 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Nandan Jain |
|
Designation : |
Secretary |
|
Address : |
70, F – 26, Sector 7, Rohini, New |
|
Date of Birth/Age : |
03.04.1954 |
|
Date of Appointment : |
26.12.1983 |
|
PAN No.: |
AEFPJ8401B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.07.2012
|
Names of Shareholders |
No. of Shares |
|
Praveen Agarwal |
4607325 |
|
Naveen Agarwal |
1462500 |
|
Surabhi Tuli |
36000 |
|
Sumitra Agarwal |
99000 |
|
Sumedha Impex Private Limited, India
|
486000 |
|
Dinesh Nandan Jain |
45 |
|
Kenmore Vikas (India) Private Limited, India |
621630 |
|
Sanden Corporation, Japan |
990000 |
|
Sanden International Singapore Pte Limited, Singapore |
6322500 |
|
TOTAL
|
14625000 |
AS ON 23.07.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.00 |
|
Bodies
corporate |
7.57 |
|
Directors
or relatives of directors |
42.43 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures
of Automotive Air Conditioning Systems. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Automotive Gas Compressor with Magnetic Clutch |
Nos. |
800000 |
379748 |
|
Automotive Air conditioning System/Kit
(including Part Kits) |
Nos. |
480000 |
439794 |
GENERAL INFORMATION
|
Customers : |
·
Maruti Suzuki ·
Honda ·
GM ·
Tata ·
Fiat ·
HM ·
Denso ·
Behr ·
AMW ·
Sonalika International ·
Keihin ·
Ford ·
M and M ·
Eicher ·
Suzuki Powertrain India Limited ·
·
Avtec Limited ·
PVL ·
Mahindra ·
Nissan |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. Narasimhan and Company Chartered Accountants |
|
Address : |
211-Hans Bhawan, Bahadur Shah Zafar Marg, |
|
PAN NO: |
AABPN5851B |
|
|
|
|
Joint Ventures Enterprise : |
|
|
|
|
|
Enterprise having substantial interest : |
|
|
|
|
|
Companies controlled or under significant influence of directors : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
Rs.10/- each |
Rs. 220.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14625000 |
Equity Shares |
Rs.10/- each
|
Rs. 146.250
Millions |
|
|
|
|
|
Note
Out of the above
11375000 Equity shares of Rs 10 each were allotted as fully paid up Bonus shares
by capitalization of Profit and Loss account
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 |
146.250 |
146.250 |
146.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
163.670 |
182.309 |
110.242 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
309.920 |
328.559 |
256.492 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
546.273 |
454.846 |
485.116 |
|
|
2] Unsecured Loans |
664.806 |
703.795 |
597.320 |
|
|
TOTAL BORROWING |
1211.079 |
1158.641 |
1082.436 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
3.190 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1520.999 |
1490.390 |
1338.928 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1226.706 |
1188.746 |
1198.582 |
|
|
Capital work-in-progress |
17.800 |
27.120 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
17.137 |
0.000 |
16.787 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
717.218
|
561.472
|
748.081 |
|
|
Sundry Debtors |
509.206
|
379.411
|
383.780 |
|
|
Cash & Bank Balances |
17.461
|
30.952
|
17.876 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.650 |
|
|
Loans & Advances |
190.181
|
165.020
|
112.251 |
|
Total
Current Assets |
1434.066
|
1136.855 |
1262.638 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1116.450
|
785.214
|
1074.299 |
|
|
Other Current Liabilities |
58.914
|
58.253
|
62.606 |
|
|
Provisions |
0.097
|
19.722
|
3.140 |
|
Total
Current Liabilities |
1175.461
|
863.189 |
1140.045 |
|
|
Net Current Assets |
258.605
|
273.666
|
122.593 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.751 |
0.858 |
0.966 |
|
|
|
|
|
|
|
|
TOTAL |
1520.999 |
1490.390 |
1338.928 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4859.816 |
4053.028 |
1525.897 |
|
|
|
Trading Sales |
0.000 |
0.000 |
1484.730 |
|
|
|
Other Income |
22.221 |
104.739 |
(103.416) |
|
|
|
TOTAL (A) |
4882.037 |
4157.767 |
2907.211 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
4276.654 |
3545.833 |
1143.376 |
|
|
|
Manufacturing service costs |
186.696 |
138.151 |
1682.536 |
|
|
|
Employee related expenses |
181.248 |
136.098 |
0.000 |
|
|
|
Administrative selling other expenses |
94.298 |
79.790 |
290.565 |
|
|
|
Prior period expenses |
0.349 |
0.346 |
0.265 |
|
|
|
Decrease / (Increase) in stock |
0.000 |
0.000 |
(98.592) |
|
|
|
Excise Duty on Inc./(Dec) in Finished Goods |
0.000 |
0.000 |
(0.978) |
|
|
|
TOTAL (B) |
4739.245 |
3900.218 |
3017.172 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
142.792 |
257.549 |
(109.961) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
94.705 |
65.649 |
51.812 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.087 |
191.900 |
(161.773) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
87.403 |
79.868 |
42.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(39.316) |
112.032 |
(203.903) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(20.677) |
39.966 |
(82.338) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(18.639) |
72.066 |
(121.565) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
155.256 |
83.190 |
204.755 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
136.617 |
155.256 |
83.190 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.787 |
8.882 |
1.070 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Materials/Components/ Consumables |
2102.880 |
2169.435 |
551.485 |
|
|
|
Purchases of Traded Goods |
443.374 |
871.048 |
1682.537 |
|
|
|
Plant and Machinery including transit |
24.082 |
76.197 |
400.315 |
|
|
TOTAL IMPORTS |
2570.336 |
3116.680 |
2634.337 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.27) |
4.93 |
(8.31) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.38)
|
1.73 |
(4.18) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.81)
|
2.76 |
(6.77) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.16)
|
4.82 |
(8.28) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13)
|
0.34 |
(0.79) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.70
|
6.16 |
8.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.32 |
1.11 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
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 |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BUSINESS OPERATIONS
There was a considerable
improvement in the business of the Company and the directors are happy to
announce that the company could achieve a total net sale of Rs. 4,859.81
Million against a sale of Rs. 4,053.02 Million during the year, a growth of
19.90%. However, the bottom line was under pressure on account of higher input
costs, price down demands from customers, higher financial cost and delay in
localisation and accordingly the Company ended up with IBITDA of 142.7 million
against Rs 257.5 million in the previous year. The signs of recovery in the
Economy appear to be permanent, which should help the improvement in the
Company’s performance in the current year. While continuing the business with
their existing customers, viz. Maruti Suzuki, Suzuki Powertrain, M and M, Fiat
India TATA Motors, and Honda. They added new customers Volkswagen India for
variable compressor and Renault Nissan for Hose and Pipe business. Maruti
Suzuki, one of their major customer introduced new models like SX4DSL, YR-9
(New Wagon R) and during the year thereby improving the business. Design and
development up gradation was carried out for TATA Motor’s Winger, which helped
in the regular supplies to customer. The design and development activity for
the new model 1 Ton Ace as well as Micro Bus, is also being carried out.
FORM 8
|
Corporate
identity number of the company |
U45202DL1982PLC014381 |
|
Name of the
company |
SANDEN VIKAS
(INDIA) LIMITED |
|
Address of the
registered office or of the principal place of business in |
12-A, Shivaji Marg, New Delhi – 110 015, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Mizuho Corporate Bank Limited, 4th Floor, East Tower, Sood
Tower, 25, Barakhamba Road, New Delhi – 110 001, India |
|
Nature of
instrument creating charge |
Agreement of loan Agreement of
hypothecation |
|
Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rs. 375.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest MIBOR linked,
payable on monthly rests Terms of repayment 2 years moratorium
and 16 equal quarterly installments starting from the end of 27th month Margin Nil Extent and operation of the charge First pari-passu
Charge on Plant and Machinery and land and building of the Company |
|
Short particulars
of the property charged (Including location of the property) |
First pari-passu
charge on plant and machinery of the Company First pari-passu
charge on land and building of the Company |
FIXED ASSETS
WEBSITE DETAILS
PROFILE
In 1982, before the widespread use of Air-Conditioning
systems in India, Vikas Group saw the potential for automotive air -
conditioning, and entered into a Joint Venture with Sanden Corporation of
Over the last 30 years, Sanden Vikas has established a very strong R and D
team and is proud to be recognized as a Research and Development Centre by the
Department of Scientific and Industrial Research (DSIR). The company has a
fully functional Design Centre having full fledged CAD/CAM facilities which are
supported with the latest software. It has capabilities to design and develop
any type of automotive air-conditioning requirements to meet the diverse need
of the customers as per local climatic conditions. Sanden's equity
participation and technical collaboration assures that it gets nothing short of
the best available anywhere in the world. All quality control and training
functions are conducted under the strict and vigilant eyes of expert Japanese
Engineers.
Over the last three decades, subject and the Group companies have established
and further enhanced its production facilities to manufacture air-conditioning
parts like Compressors, HVACs, Blowers, Receiver Driers, Hoses and Pipes, High
Precision Machined parts and Injection Moulded parts. It has a strong and fully
trained work force at all its manufacturing locations.
Subject has a strong customer base with customers like Suzuki, Honda, Ford,
Tata, Fiat, Mahindra and Mahindra to name a few.
The Company and the Group companies have a very strong focus on quality and customer satisfaction. Most group companies are accredited with ISO/TS16949 certifications. In order to deliver quality products to its customers, the company has set a minimum criterion of ISO 9001 certification for all its vendors as well.
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. 53.29 |
|
|
1 |
Rs. 86.43 |
|
Euro |
1 |
Rs. 68.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
39 |
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.