MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAPINO AUTO AND ELECTRONICS LIMITED |
|
|
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Registered
Office : |
753-754, Udyog Vihar, Phase - V, Gurgaon – 122 016, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
14.11.1991 |
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|
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Com. Reg. No.: |
05-031470 |
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Capital
Investment / Paid-up Capital : |
Rs.19.494
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300HR1991PLC031470 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKN01531F/ RTKN00907E |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACN4973G |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Regulator/Rectifiers and Capacitor Discharge Igniters. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 9343000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having a fine
track record. Performance capability is high. Financial position of the
company appears to be sound. Trade relations are reported as trustworthy.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
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 Office / Factory 1 : |
753-754, Udyog Vihar, Phase - V, Gurgaon – 122 016, Haryana, India |
|
Tel. No.: |
91-124-2346204, 4001158 |
|
Fax No.: |
91-124-2346205, 4001876 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Head Office / Factory 2 : |
Plot No.7, Sector 3, IMT- Manesar, District Gurgaon – 122 050,
Haryana, India |
|
Tel. No.: |
91-124-4177200/ 2290050 |
|
Fax No.: |
91-124-2290049 |
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|
|
|
Factory 3 : |
3/P4, Sector 10, Hero Honda Park, Integrated Industrial Estate,
Haridwar – 249 403, Uttarakhand, India |
|
Tel. No.: |
91-1334-239841/
42/ 43 |
|
Fax No.: |
91-1334-239844 |
|
Factory 4 / D&D Centre : |
Plot No.131, Sector 8, IMT Manesar, Gurgaon – 122 050, Haryana, India |
|
Tel. No.: |
91-124-4852700 |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Vipin Raheja |
|
Designation : |
Managing Director |
|
Address : |
C 5/6, Vasant Vihar, New Delhi – 110 057, India |
|
Date of Birth/Age : |
31.07.1952 |
|
Qualification : |
B. Sc, Engg.(Electrical) |
|
Date of Appointment : |
14.11.1991 |
|
DIN No.: |
00032931 |
|
Voter ID No.: |
02/03/016/000147 |
|
PAN No.: |
AACPR8484M |
|
|
|
|
Name : |
Mrs. Vandana Vipin Raheja |
|
Designation : |
Whole Time Director |
|
Address : |
C 5/6, Vasant Vihar, New Delhi – 110 057, India |
|
Date of Birth/Age : |
04.11.1958 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.09.1999 |
|
DIN No.: |
00053398 |
|
Voter ID No.: |
02/03/016/000148 |
|
PAN No.: |
AGAPR6905P |
|
|
|
|
Name : |
Ms. Vani Vipin Raheja |
|
Designation : |
Whole Time Director |
|
Address : |
C 5/6, Vasant Vihar, New Delhi – 110 057, India |
|
Date of Birth/Age : |
13.03.1983 |
|
Date of Appointment : |
01.10.2005 |
|
DIN No.: |
00053343 |
|
PAN No.: |
AGAPR6906Q |
|
|
|
|
Name : |
Mr. Vaibhav Vipin Raheja |
|
Designation : |
Whole Time Director |
|
Address : |
C 5/6, Vasant Vihar, New Delhi – 110 057, India |
|
Date of Birth/Age : |
20.02.1987 |
|
Date of Appointment : |
20.02.2005 |
|
DIN No.: |
00053672 |
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PAN No.: |
AIQPR7627A |
|
|
|
|
Name : |
Mr. Navin Raheja |
|
Designation : |
Director |
|
Address : |
A-195, Sushant Lok, Phase-1, Gurgaon – 120 022, Haryana, India |
|
Date of Birth/Age : |
12.03.1957 |
|
Date of Appointment : |
14.11.1991 |
|
DIN No.: |
00227685 |
|
PAN No.: |
AAFPR0594P |
|
|
|
|
Name : |
Shoji Chiba |
|
Designation : |
Director |
|
Address : |
1-9-11, Shinmachi, Tsurugashima, Saitama, Japan 3502227 |
|
Date of Birth/Age : |
25.06.1965 |
|
Date of Appointment : |
27.09.2012 |
|
DIN No.: |
06366217 |
KEY EXECUTIVES
|
Name : |
Inderneel Sethi |
|
Designation : |
Company Secretary |
|
Address : |
137/21, Gali No.1, Raj Nagar, Gurgaon – 122
001, Haryana, India |
|
Date of Birth/Age : |
31.01.1976 |
|
Date of Appointment : |
03.01.2011 |
|
PAN No.: |
ATWPS4150L |
|
|
|
|
Name : |
CA. Manish Gupta |
|
Designation : |
Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vipin Raheja |
|
511011 |
|
Navin Raheja |
|
194600 |
|
Pawan Kant Munjal |
|
16 |
|
Vinod Ahuja |
|
16 |
|
Jatinder Kumar Mehta |
|
16 |
|
Virendra Kumar Chhabra |
|
16 |
|
Vandana Vipin Raheja |
|
506112 |
|
Shindengen Electric Manufacturing Company Limited, Japan |
|
440000 |
|
Vani Raheja |
|
136760 |
|
Vaibhav Raheja |
|
136765 |
|
Kunal Raheja |
|
24080 |
|
Total |
|
1949392 |
As on 27.09.2012
|
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] |
|
22.57 |
|
Directors
or relatives of directors |
|
77.43 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Regulator/Rectifiers and Capacitor Discharge Igniters. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
(Pcs. In Lacs) |
|
|
|
Installed Capacity* |
Actual Production (No.) |
|
Auto Parts |
295.20 |
228.00 |
|
Printed Circuit Assembly |
147.00 |
126.00 |
*As certified by
the management and relied on by the auditors being the technical matters.
GENERAL INFORMATION
|
Customers : |
|
|
|
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No. of Employees : |
Not Available |
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|
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Bankers : |
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Sehgal Mehta and Company Chartered Accountants |
|
Address : |
10172/ 3, Block No.15, Abdul Aziz Road, W.E.A. Karol Bagh, New Delhi –
110 005, India |
|
Tel. No. : |
91-11-28753629 / 45064845 |
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Fax No. : |
91-11-28753629 |
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E-Mail : |
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PAN No.: |
AACFS2420G |
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Joint Venture : |
Shindegen Electric Manufacturing Company Limited, |
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|
|
|
Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives : |
|
CAPITAL STRUCTURE
As on 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1949392 |
Equity Shares |
Rs.10/- each |
Rs.19.494
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.494 |
19.494 |
19.494 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2316.172 |
1900.615 |
1529.976 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2335.666 |
1920.109 |
1549.470 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.692 |
1.158 |
|
|
|
|
|
|
|
|
TOTAL |
2335.666 |
1920.801 |
1550.628 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
738.621 |
746.598 |
741.443 |
|
|
Capital work-in-progress |
282.162 |
228.351 |
145.695 |
|
|
|
|
|
|
|
|
INVESTMENT |
206.034 |
262.536 |
1.121 |
|
|
DEFERRED TAX ASSETS |
0.064 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
870.789
|
784.613 |
665.708
|
|
|
Sundry Debtors |
1126.911
|
1003.654 |
762.268
|
|
|
Cash & Bank Balances |
131.928
|
112.793 |
59.563
|
|
|
Other Current Assets |
3.369
|
3.437 |
0.000
|
|
|
Loans & Advances |
191.124
|
141.406 |
135.782
|
|
Total
Current Assets |
2324.121
|
2045.903 |
1623.321 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1015.837
|
1219.906 |
881.074
|
|
|
Other Current Liabilities |
76.225
|
54.657 |
65.133
|
|
|
Provisions |
123.274
|
88.024 |
14.745
|
|
Total
Current Liabilities |
1215.336
|
1362.587 |
960.952 |
|
|
Net Current Assets |
1108.785
|
683.316 |
662.369
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2335.666 |
1920.801 |
1550.628 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
7104.298 |
5704.533 |
4451.711 |
|
|
|
Other Income |
31.282 |
18.404 |
8.306 |
|
|
|
TOTAL (A) |
7135.580 |
5722.937 |
4460.017 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5536.569 |
4445.156 |
|
|
|
|
Purchases of stock-in-trade |
14.519 |
8.081 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(55.733) |
(92.657) |
|
|
|
|
Employee benefit expense |
463.484 |
394.384 |
|
|
|
|
Other expenses |
360.659 |
310.547 |
|
|
|
|
TOTAL (B) |
6319.498 |
5065.511 |
3919.681 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
816.082 |
657.426 |
540.336 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
816.082 |
657.426 |
540.336 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
107.005 |
112.214 |
113.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
709.077 |
545.212 |
426.778 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
198.245 |
152.684 |
137.642 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
510.832 |
392.528 |
289.136 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEAR
ADJUSTMENTS |
(4.650) |
0.842 |
-- |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
38.988 |
0.000 |
9.747 |
|
|
|
Proposed Final Dividend |
38.988 |
19.494 |
9.747 |
|
|
|
Tax on Dividend |
12.650 |
3.238 |
3.275 |
|
|
|
Transfer to General Reserve |
51.083 |
39.253 |
28.913 |
|
|
SURPLUS CARRIED
TO THE B/S |
364.473 |
331.385 |
237.454 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
206.645 |
110.141 |
52.562 |
|
|
TOTAL EARNINGS |
206.645 |
110.141 |
52.562 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
3731.892 |
|
2340.776 |
|
|
|
Components & Spare Parts (Repair of
machinery) |
|
|
6.653 |
|
|
|
Capital Goods |
|
|
36.639 |
|
|
TOTAL IMPORTS |
3731.892 |
2662.957 |
2384.068 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
262.05 |
201.36 |
148.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.16
|
6.86 |
6.48
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.99
|
9.56 |
9.59
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.15
|
19.52 |
18.05
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.28 |
0.27
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91
|
1.50 |
1.69
|
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
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)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34)
External Agency Rating, if available |
No |
CORPORATE INFORMATION:
Subject has made a
significant contribution in the field of Auto Electrical and Electronics
Products over a period of two decades and made its presence indispensible in
the industry. The Company is currently operating at the following premises:- a)
Plant 1: Gurgaon Plant b) Plant 2: Manesar Plant c) Plant 3: Haridwar Plant d)
Plant 4: Sector 8, Manesar. The company is the largest manufacturer of
Regulator/Rectifiers and Capacitor Discharge Igniters in India. Besides
manufacturing Electronic Parts, subject also manufactures wiring harnesses to
cater to the needs of renowned auto manufacturers across the globe. Subject
delivers products of top notch quality and aims at ensuring customer
satisfaction.
RESULTS, PROFITS AND PROSPECTS
After strong
performance in F.Y 2010-2011, the Indian economy showed signs of slowdown in
F.Y. 2011-2012, due to inflationary pressures. Measures taken to arrest
inflation adversely impacted economic growth which dropped to 6.9% from 8.6% in
the previous financial year. The year also witnessed a sharp decline in
manufacturing activities mainly due to monetary tightening, weak external
demand and lack of investment activity. Despite all this, the Two Wheeler
Industry continued to grow in India and their major customer Hero MotoCorp.
Limited not only notched 15.41% growth in sales but continued to retain its
position as World’s Largest Two-Wheeler Manufacturer with domestic market share
of around 45%. Being a close associate of Hero MotoCorp Limited, Napino played
an important supporting role in the growth of its customers through
considerable efforts and timely investments. Helped by the success of the
customers, the Company did extremely well with its production and sales growing
to newer heights. The Company has over the past few years benefitted immensely
through use of innovative ideas in the improvement of productivity, operations
and quality with the able support of management and staff at all levels.
The Company
recorded 24.41% overall growth in gross turnover rising from Rs.5750.775
millions in F.Y. 2010-2011 to Rs.7154.733 millions in F.Y.2011-12. This is the
highest ever turnover achieved by the Company. The Net profit before tax also
went up by 30.06% rising from Rs.545.212 millions in the F.Y.2010-2011 to
Rs.709.077 millions in F.Y. 2011-12. Net profit after tax went up from
Rs.392.528 millions in the F.Y. 2010-11 to Rs.510.832 millions in F.Y. 2011-12
registering a growth of 30.14%. All this was achieved in the year when the
world felt the acute effects of the global recession. They will continue to
follow their successful strategy to satisfy their present customers and
actively shape their future. Further, considering the changing market scenario,
they will continue to focus on improving their portfolio of products,
increasing efficiencies, product innovation and expanding their business. The
turnover during the 1st Quarter of the current year 2012-13,
increased by 9.84% to Rs.19.808 millions against Rs.18.034 millions in the
corresponding period in the year 2011-12. However, the market scenario seems to
be more challenging in the future and in order to maintain their growth
momentum, they are working on a new strategy as explained above.
EXPANSION AND DIVERSIFICATION
New Manesar Plant
Operations at
their new Manesar plant located at Plot No.131, Sector 8, IMT Manesar have
commenced and gradually all activities planned for this plant would become
operational during the current year. New improved systems have been employed in
the Wiring Harness production line at the new plant to help cater to the stiff
market competition which lies ahead. This new plant would provide great impetus
to the R&D activities of the Company (which is the need of the hour) with a
designated State-of-the-Art Design and Research Centre being established at
this plant. The Testing and Validation Laboratory is also being setup which
will add value to D&D and offer confidence to their customers towards the
reliability of their products. The plant will also provide manufacturing
facilities for Die-cast Aluminum and Injection Moulded Components for which
world class machines have been installed to attract good customers. After
receiving approval for some of the product samples produced on these machines,
commencement of regular production on these machines will soon begin. Other
activities planned for this plant include setting up of a highly sophisticated
and modern SMT Electronic Assembly Line with Clean Room Environment, a Modern
Tool-Room Centre and Prototype Sampling facility which would add value to the
products developed by Napino. During the year, Capital Expenditure of
Rs.108.217 millions was incurred on the New Manesar Plant. During the financial
year 2012-13, the Company plans to increase its production capacity by
installation of new manufacturing lines as stated above. The manufacturing
capacity of the electronic division and wire harnesses will be increased by
about 20% to 25%, which will be commensurate to the future sales of the
Company.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U34300HR1991PLC031470 |
|
Name of the company |
NAPINO AUTO AND ELECTRONICS LIMITED |
|
Address of the registered office or of the
principal place of business in |
753-754, Udyog Vihar, Phase - V, Gurgaon – 122 016, Haryana, India E-Mail: cs@napino.com |
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10191141 |
|
Type of charge |
Book Debts Movable Property (not being pledge) Floating Charge |
|
Particular of charge holder |
CIN No.: L65920MH1994PLC080618 HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg,
Lower Parel (West), Mumbai – 400 013, Maharashtra, India E-Mail: shobhit.verma@hdfcbank.com |
|
Nature of description of the instrument
creating or modifying the charge |
Supplemental letter of hypothecation of
stocks and book debts |
|
Date of instrument Creating the charge |
28.05.2012 |
|
Amount secured by the charge |
Rs.120.000 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: At prevailing rates, subject to revision
by the bank. Terms of Repayment: As mutually agreed. Margin: As mutually agreed. Extent and Operation of the charge: As mutually agreed. |
|
Short particulars of the property charged |
First pari-passu charge on stocks and book
debts of the Company both present and future. |
|
Date of latest modification prior to the
present modification |
01.12.2009 |
|
Particulars of the present
modification |
By the present modification total Working
Capital limits stand enhanced from Rs.100.000 millions to Rs.120.000
millions. |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Electrical Equipment
·
Office Equipment
·
Computer
·
Vehicle
·
Furniture and Fixture
·
Items Less than 5000
·
Intangible Assets
WEBSITE DETAILS:
BRIEF HISTORY,
AWARDS AND ACCOLADES:
Brief History:
Feb 1997- Commenced Commercial Operations at Gurgaon Plant
Jun 1997 - Established production of Main Wiring Harness
Jun 1998 - Signed Technical Assistance Agreement with Shindengen Electric
Manufacturing Company Limited Japan for the manufacture of CDI and
Regulator/Rectifier.
Nov 1998 - Commenced Commercial Production of CDI and Regulator/Rectifier
Jan 2001 - NAPINO became a QS 9000 registered Company.
Apr 2001 - Signed Capital Investment Contract with Shindengen Electric, Japan.
Dec 2001 - Commenced PCB Assembly Line at Manesar Plant.
Jan 2002 - Commenced Commercial Production of Electronic Products with PCB Assembly
at Manesar Plant.
Jun 2002 - Commenced Production of Wire Harnesses on Conveyors.
Feb 2003 - Commenced Production of Digital CDI.
Sep 2003 - Certified for Direct On Line supplies to Hero Honda.
Feb 2004 - Certified as a EMS ISO 14001 registered company.
May 2004 - Certified as a ISO/TS 16949 registered company.
Aug 2003 - Commissioned Second SMT Line.
Jan 2005 - Commissioned Third SMT Line.
Dec 2005 - Awarded "IMEA Platinum Award" in Automobile Category by Frost
and Sullivan
Dec 2005 - Awarded Excellent and Distinguished Case Study Award by QCFI
Feb 2006 - Received "Arch of Europe Award for Quality and Technology" in
Gold Category by BID,
Mar 2006 - Received "Best Vendor of the Year" Award in Electrical
Category’ from Honda Motorcycle and Scooter
Sep 2006 - Received First Prize – ELCINA “Business Excellence” Award for being the
Best Electronics Company in
Oct 2006 - Awarded Excellent and Distinguished Case
Study Award by QCFI
Mar 2007 - Received “Best Vendor of the Year” Award for 2006-2007 in Electrical
category from Honda Motorcycle and Scooters India Private Limited
Sep 2007 - Received “Certificate of Merit” ELCINA-Dun and Bradstreet Awards 2006-2007
for outstanding performance in “Environmental Management”.
Sep 2007 - Awarded Excellent and Distinguished Case Study Award in CCQC 2007 by
Quality Circle Forum of
Oct 2007 - Awarded Rolling Trophy as winner in CII Quality Circle Competition-2007,
Northern Region.
Nov 2007 - Certified for OHSAS 18001:2007 ( Occupational Health and Safety
Management System)
Dec 2007 - Awarded Par Excellence and Distinguished Case Study Award in National
Convention of Quality Circles 2007 by Quality Circle Forum of India.
Jan 2008 - Received "Best Vendor of the Year" Award in Electrical
Category’ from Honda Motorcycle and Scooter India Private Limited
Apr 2008 - Started Production at Haridwar Plant.
Apr 2008 - NAEL received "Excellence Award"
from
Apr 2008 - CMD conferred with "Udyog Rattan
Award" by
Jun 2008 - Award of Merit in Green Vendor Development
Programme by HHML
Sep 2008 - Received First Prize - ELCINA ~ Dun and
Bradstreet Award for Quality for the year 2007-08.
Sep 2008 - Awarded Par Excellent, Excellent and
Distinguished Case Study Award in Chapter Convention of Quality Circles 2008 by
QCFI.
Oct 2008 - Awarded Rolling trophy i.e. ist prize for QC Circle Preliminary
Competition of CII,
Oct 2008 - Awarded Outstanding Case Study Award in ICQC 2008 at
Nov 2008 - Awarded Excellent Case Study Award in NCQC 2008 at Vadhodara.
Dec 2008 - Received ‘IMEA Platinum Award in Automobile Category’ by Frost and
Sullivan.
Jan 2009 - Certified for OHSAS 18001:2007 (Occupational Health and Safety
Management System) at Haridwar Plant.
Mar 2009 - Certified for TS 16949:2002 at Haridwar Plant
Aug 2009 - Awarded First prize in ACMA Quality Circle competition-2009, North
Region
Jan 2010 - Received ‘IMEA
Platinum Award in Automotive Ancillaries’ by Frost and Sullivan
Oct 2010 - Awarded Gold and
Silver award in ICQCC 2010 held at Hyderabad, India
Dec 2010 - Received The
Economic Times IMEA Super Platinum 1st Runner Up Award and
Consistency Award 2010 by Frost and Sullivan
Dec 2011 - Received Silver
Award for "On Time Delivery" from India Yamaha Motors Private Limited
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 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.54.65 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.