MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
S P Koil Post, Kancheepuram District
Chengalpattu – 603204, Tamilnadu |
|
|
|
|
Country : |
|
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|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
09.08.2000 |
|
|
|
|
Com. Reg. No.: |
18-045537 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.21220.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34103TN2000PTC045537 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM02210F |
|
|
|
|
Legal Form : |
Private Limited
Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing and
Marketing of Passenger Cars (Ford Ikon) |
|
|
|
|
No. of Employees
: |
22000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 61840000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary
of Ford Motors USA, an auto giant. It is an established company having a
moderate track record. Indian operations of the company is not doing well.
Profitability of the company is under pressure. However, trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can
be considered normal for business dealings at usual trade 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) |
|
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.
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/ Corporate Office : |
S P Koil Post, Kancheepuram District
Chengalpattu – 603204, |
|
Tel. No.: |
91-4114-27454375 91-44-67403333 |
|
Fax No.: |
91-4114-27455177 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
350 Acres |
|
Location : |
Outskirts |
|
|
|
|
Corporate
Office - North: |
3rd Floor, Building 10C, DLF
Cyber City, DLF Phase – II, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-3873001 |
|
Fax No.: |
91-124-3873999 |
|
|
|
|
Regional
Office : |
West
301, Tel. : 91-22-67024300 Fax: 91-22-67024305 South
Block – 1B, 1st Floor, Tel. : 91-44-24551500 Fax : 91-44-24559965 East
6th Floor, Unit # D2, Aakash
Tower, 781, Anandpur, Kolkata - 70010, West Bengal, India Tel. : 91-33-40073930-34 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr Joginder Pal
Singh |
|
Designation : |
Managing Director
|
|
Address : |
No. 6A, Waters
Edge, 5th Drive Sea Clif Conclave, Akkarai, Chennai – 600119,
Tamilnadu, India |
|
Date of Birth/Age : |
06.01.1954 |
|
Date of Appointment : |
01.12.2012 |
|
DIN No.: |
02395452 |
|
|
|
|
Name : |
Mr. Kuljit Singh Rana |
|
Designation : |
Whole Time Director |
|
Address : |
Mayflower Apartment, No.9, |
|
Date of Birth/Age : |
13.05.1965 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
02680026 |
|
|
|
|
Name : |
Mr. Joseph R Hinrichs |
|
Designation : |
Director |
|
Address : |
36th Floor, SIT, 211, Century Avenue, Shanghal -200120 |
|
Date of Birth/Age : |
26.12.1966 |
|
Date of Appointment : |
24.03.2010 |
|
DIN No.: |
02982156 |
|
|
|
|
Name : |
Mr. Tom Chackalackal |
|
Designation : |
Director |
|
Address : |
3067, GST Road, Vallanchery – 603202, Tamilnadu, India |
|
Date of Birth/Age : |
13.07.1970 |
|
Date of Appointment : |
02.07.2012 |
KEY EXECUTIVES
|
Name : |
Mr. S Ramesh
(Indian) |
|
Designation : |
Company Secretary |
|
Address : |
No.10 Panchayat
Colony, Radha Nagar, Chrompet, Chennai 600 044, Tamilnadu, India |
|
Date of Birth/Age : |
11.10.1975 |
|
Date of Appointment : |
10.06.2005 |
|
Pan No.: |
AFLPR7910J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ford Motor
Company, |
|
243016520 |
|
Ford
International Services LLC., |
|
45883480 |
|
Total |
|
288900000 |
As on 27.11.2012
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Ford Motor
Company, USA |
|
11776520 |
|
Ford
International Services LLC., USa |
|
2223480 |
|
Total |
|
14000000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.000 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
Marketing of Passenger Cars (Ford Ikon) |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
31.03.2011 |
|
|
|
|
Installed
Capacity |
200,000 passenger cars |
GENERAL INFORMATION
|
No. of Employees : |
22000
(Approximately) |
|||||||||||||||
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|
|
|||||||||||||||
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Bankers : |
· Kotak Mahindra Bank Limited 36-38 A, Nariman Bhavan, 227, D, Nariman Point,, Mumbai - 400021, Maharashtra, India |
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|
|||||||||||||||
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Facilities : |
(Rs.
In Millions)
Note : Cash credit from banks including working capital demand loans (Secured by hypothecation of present and future inventories and book debts) |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants, Chennai. |
|
Address : |
32, |
|
PAN.: |
AABFL5878L |
|
|
|
|
Fellow Subsidiaries: |
· DCS Holding Company, Thailand · Getrag Ford Transmissions Halewood, UK · Ford Werke GmbH-Genk Div, Belgium · Ford of Spain, Spain · Auto Alliance, Thailand |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.100/- each |
Rs.
50000.000 Millions |
|
500000000 |
Preference Shares |
|
Rs.
50000.000 Millions |
|
|
Total |
|
Rs. 100000.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
288900000 |
Equity Shares |
Rs.100/-
each |
Rs.
28890.000 Millions |
|
|
|
|
|
As on 27.011.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000000 |
Equity Shares |
Rs.100/- each |
Rs.
55000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
302900000 |
Equity Shares |
Rs.100/-
each |
Rs.
30290.000 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 |
28890.000 |
21220.000 |
21220.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
10.000 |
10.000 |
|
|
4] (Accumulated Losses) |
(13428.176) |
(12037.869) |
(10962.910) |
|
|
NETWORTH |
15461.824 |
9192.131 |
10267.090 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
836.906 |
1069.731 |
2080.688 |
|
|
2] Unsecured Loans |
17362.758 |
13111.226 |
10556.095 |
|
|
TOTAL BORROWING |
18199.664 |
14180.957 |
12636.783 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
33661.488 |
23373.088 |
22903.873 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
23603.200 |
22393.341 |
20444.119 |
|
|
Capital work-in-progress |
2802.036 |
1038.281 |
2301.249 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8780.959
|
6395.683
|
5446.956 |
|
|
Sundry Debtors |
2373.026
|
1897.313
|
2413.883 |
|
|
Cash & Bank Balances |
6043.434
|
3461.320
|
2499.069 |
|
|
Other Current Assets |
261.895
|
109.351
|
115.653 |
|
|
Loans & Advances |
5993.619
|
2401.903
|
2346.724 |
|
Total
Current Assets |
23452.933
|
14265.570
|
12822.285 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12925.186
|
13163.319
|
11909.207 |
|
|
Other Current Liabilities |
1810.572
|
666.303
|
472.748 |
|
|
Provisions |
1460.923
|
494.482
|
281.825 |
|
Total
Current Liabilities |
16196.681
|
14324.104
|
12663.780
|
|
|
Net Current Assets |
7256.252
|
(58.534)
|
158.505
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
33661.488 |
23373.088 |
22903.873 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
66041.800 |
56105.400 |
24962.400 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
66041.800 |
56105.400 |
24962.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, administrative and selling Expenses |
63999.300 |
54307.800 |
25472.300 |
|
|
|
TOTAL |
63999.300 |
54307.800 |
25472.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2042.500 |
1797.600 |
(509.900) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
603.000 |
476.000 |
(147.700) |
|
|
|
|
|
|
|
|
|
Less: |
CAPITALISED |
0.000 |
(413.400) |
509.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1439.500 |
1735.000 |
(301.900) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
2839.800 |
2809.900 |
(1435.500) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(1400.300) |
(1074.900) |
(1583.500) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(0.700) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(1400.300) |
(1074.900) |
(1584.200) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(12037.800) |
(10962.900) |
(9378.600) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(13438.200) |
(12037.800) |
(10962.900) |
|
|
|
|
|
|
|
|
|
|
Earnings/loss
Per Share (Rs.) |
(4.85) |
(5.07) |
(7.88) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.12)
|
(0.02)
|
(6.35)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.98
|
(2.93)
|
(4.83)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(9.06)
|
(0.12)
|
(0.15)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.18
|
1.54
|
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
0.99
|
1.01
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter 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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN :
(Rs. In Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term Borrowing |
|
|
|
Rupee term loans banks unsecured |
0.000 |
2287.764 |
|
Borrowing from foreign companies |
6622.850 |
0.000 |
|
Deferred payment for acquisition of fixed assets |
1537.542 |
0.000 |
|
Deferred sales tax loan |
6130.590 |
4909.186 |
|
Working capital loans from banks |
3071.776 |
0.000 |
|
Other external commercial borrowings unsecured |
0.000 |
5914.276 |
|
Total |
17362.758 |
13111.226 |
NEW BUSINESS ACTIVITY :
The Company has launched Fiesta, first global car in July 2011. Company has announced the launch of second plant in Sanand, Gujarat. The ground breaking ceremony was performed in September 2011. The work for site office, engine plant, paint shop, stamping, body and TCF has already commenced.
The new facility involves the investment of approximately USD 1 billion, include two plants, one for vehicle manufacturing that will have an initial capacity of 240,000 vehicles, and the other for engines, with an initial capacity of 270,000 engines.
The Company has showcased Eco Sport at New Delhi Auto Expo at the beginning of 2012.
BUSINESS PLAN :
The Company has planned to launch global vehicles in India to meet the customers expectations. The existing vehicles will be refreshed at the regular interval to suit the upcoming trends. During the year, the company had received Rs 7670.000 Millions as the contribution from its shareholders to fund the expansion activities, and shares have been allotted against the same.
NEWS :
Highest Ever Exports, Steady Domestic
Demand Drive Ford Sales in December to 10,899
01.01.2013
• Ford India sold 10,899 cars in combined domestic wholesales and exports in December
• Exports hit a record high for the third consecutive month in December, with shipment of 4,382 cars– highest ever record in Ford India’s history
• With its ‘Midnight Sale’ and ‘December Dhamaal’ promotions, the company generated substantial customer interest
NEW DELHI, India, 1 January, 2013 – Record exports for the third consecutive month combined with steady domestic demand helped Ford India end 2012 with sales of 10,899 domestic wholesale and export units in December.
Despite persistent market challenges, domestic sales remained healthy with 6,517 vehicles sold in December this year compared to 5,978 units sold in the same month last year, a year-on-year increase of 9 percent.
Ford India’s exports rose to 4,382 cars last month – the highest-ever exports in its history, and have more than doubled from the 1,685 units exported in December last year. Exports hit an all-time high for the third consecutive month after shipments hit 4,211 units in November. Year-to-date exports stand at 30,435 – up 35 % from last year.
“Despite a tough business environment, we have seen record exports and sustained customer interest in December,” said Joginder Singh, president and managing director, Ford India. “It is great to see that we are closing the year on a positive note with strong growth momentum. As we head into 2013, we will continue to focus on providing products and services, with Quality, Green, Safe and Smart attributes, that our customers want and value,” he added.
Ford India also organized its Midnight Sale on December 5, making it the best day to buy a Ford with the company’s 160 sales outlets across the country remaining open from 8 am till midnight and allowing customers to win free gifts and avail exciting offers on interest rates, discounts and insurance benefits. Ford India carried on the celebrations throughout the month with its ‘December Dhamaal’ campaign, generating substantial consumer interest.
In 2012, the company also stepped up its efforts to reach out to customers and reduce cost-of-ownership for them by pushing further into tier-two and three cities and towns and opening new channels of service. The first ever Ford Quick Lane service centre in Asia was launched in Bangalore this year, making routine vehicle maintenance and light-repair needs possible for customers who are short on time.
Ford India’s pan-Indian network of sales and service outlets, which stood at 200 in December 2011, have seen a 25 % spurt in the current year to reach 250 across 130 cities. The company plans to take the number to over 500 by mid-decade.
Ford India strengthens presence in East with brand new dealership in
Gangtok
14.02.2013
• Ford India opens an all-new Brand@Retail dealership in Gangtok, its first ever dealership in Sikkim strengthening its footprint in the eastern region adding to a total of 18 dealerships
• With a total of 260 sales and service outlets across 138 cities in India, over 40 percent of the sales and service
network growth has been in tier II and III cities
Gangtok, February 14, 2013: Ford India today inaugurated its first-ever dealership in Sikkim, Saharsh Ford in capital city of Gangtok. With the launch of two brand new dealerships at Gangtok and Himmatnagar, Gujarat, in the same week, the company reaffirms its strong commitment to push further into tier II and III towns of India making its services and offerings more accessible.
Saharsh Ford will include separate facilities for showroom and service centres. Both the sales and service centres are located on the main Siliguri-Gangtok road for providing easier access to customers. The new showroom in Gangtok is in line with the Blue Oval’s aggressive expansion plans to reach closer to its customers in India.
Vinay Piparsania, executive director, marketing, sales and service, Ford India inaugurated the new dealership along with Sanjay Bajla, dealer principal of Saharsh Ford.
Speaking at the inauguration of the new facility, Piparsania said, “We have always endeavored to offer our customers the best experience with Ford; and in this New Year we are excited to bring our first ever dealership to Sikkim. Expanding our sales and service network to more cities and towns is a significant part of our expansion to give our customer ease and convenience.”
“We are pleased to enter new boundaries and are sure our new customers in Sikkim will be excited to experience Ford’s range of dependable, fuel-efficient and fun-to-drive cars,” he added.
The showroom is spread across an area of 2500 square feet, while the workshop spreads over 12000 square feet and will cover the nearby districts in Sikkim. The showroom is built according to Ford's global standard of Brand@Retail to improve the ownership experience and ensure a long-term association with the Blue Oval.
Sanjay Bajla of Saharsh Ford, said, “We are very proud to be the first Ford dealership in Sikkim and are looking forward to bringing the best products to our customers here. The state-of-the-art dealership is equipped to provide world-class ambience and unmatched service to our customers. A dedicated team of trained technicians equipped with the latest service tools and diagnostic equipment, state-of-the-art body repair shop and computerized facilities will attend to every need of the customers.”
With 260 sales and service outlets across 138 cities in India and over 40 percent of the sales and service network in tier II and III cities, Ford’s pan-India expansion will enable customers to enjoy world-class products and services from Ford along with best-in-class cost of ownership experience. In line with its aggressive expansion plan for India and in a bid to make ownership of a Ford vehicle more convenient for customers, the company plans to take the total number of sales and service touch points to 500 by mid-decade.
The aggressive sales and service network expansion is in tune to support Ford’s global plan of increasing worldwide sales by mid-decade to 8 million vehicles a year. Of that figure, 60 to 70 percent is expected to come from the Asia Pacific and Africa region. With the eagerly awaited compact SUV EcoSport, to be launched this year, Ford plans to take its amazing growth story in India forward.
Fixed Assets:
- Land-Freehold
- Building
- Plant and Machinery
- Computers
- Furniture and Fixtures
- Vehicles
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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
RSMK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
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 |
|
35 |
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.