MIRA
INFORM REPORT
|
Report Date : |
21.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
BOSCH CHASSIS
SYSTEMS INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
KALYANI BRAKES
LIMITED KALYANI BRAKES
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Godrej
Millennium, 3rd Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
25.05.1982 |
|
|
|
|
Com. Reg. No.: |
11-027224 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 207.930
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1982PLC027224 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKK00678G /
PNEK00047F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK7312E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Automotive Brake Systems and Components. |
|
|
|
|
No. of Employees
: |
3000
[Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 15500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of the world’s largest independent parts supplier to
the automotive industry, Bosch Group. It is a well established and reputed company having good track record.
There appears slight dip in the profitability during the current year. However, general financial position of the company seems to be strong.
Liquidity position of the company is good. Company gets good support from its
group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. In view of experience promoters, the company can be considered for
normal business dealings at usual trade terms and condition. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
(ICRA) AA+ |
|
Rating Explanation |
ICRA has suspended its rating AA+ due to
lack of information. |
|
Date |
March 2012 |
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 : |
Godrej
Millennium, 3rd Floor, Koregaon Park, Pune-411001, Maharashtra,
India |
|
Tel. No.: |
91-20-39870302 / 39870300 |
|
Fax No.: |
91-20-26810007/26111511 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Off NH 6,
Bambhori, Taluka Erandol, District Jalgaon-425001, Maharashtra, India |
|
|
|
|
Factory 2 : |
Gat No. 306, Nanekarwadi, Tal-Khed, District – Pune, Maharashtra,
India |
|
Tel. No.: |
91-20-39870302 |
|
Fax No.: |
91-20-26810007 |
|
|
|
|
Factory 3 : |
Plot No. 9,
Sector 3, |
|
Tel. No.: |
91-124-2123569 /
2290528 / 3090358 |
|
Fax No.: |
91-124-2123540 /
2290638 |
|
E-Mail : |
|
|
|
|
|
Factory 4: |
|
DIRECTORS
AS ON 01.06.2012
|
Name : |
Mr. Dhiraj Wali |
|
Designation : |
Managing director |
|
Address : |
505, 5th Floor, Olimpus, ll, Prestige Acropolis, 20 Hosur
Road, Koramangala, Bangalore – 560029, Karnataka, India |
|
Date of Birth/Age : |
05.06.1962 |
|
Qualification : |
Engineer
Electronics and Communication |
|
Experience : |
25 Years |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02975290 |
|
|
|
|
Name : |
Pfendtner Reinhard |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
Unit 6, Rhapsody, S. No. 88, Near Archid School, baner, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
02.01.1964 |
|
Date of Appointment : |
01.03.2012 |
|
DIN No.: |
05223299 |
|
|
|
|
Name : |
Mr. Vishwanathan Vishnampettai Balasubramanian |
|
Designation : |
Whole time director |
|
Address : |
E 601, Kalpataru Regency, Road No. 10, Kalyani Nagar, Pune – 411006,
Maharashtra, India |
|
Date of Birth/Age : |
21.04.1960 |
|
Date of Appointment : |
01.06.2012 |
|
DIN No.: |
05222476 |
|
|
|
|
Name : |
Mr. Gerhard Johannes Steiger |
|
Designation : |
Director |
|
Address : |
Panorama Strasse, 36 Weil Der Stadt, Germany 71263 |
|
Date of Birth/Age : |
23.05.1958 |
|
Qualification : |
Graduate in National Economy |
|
Date of Appointment : |
22.12.2009 |
|
DIN No.: |
02946897 |
|
|
|
|
Name : |
Mr. Sanjay Sharad Vaidya |
|
Designation : |
Director |
|
Address : |
67, Shailesh Housing Society, Vipul Karvenagar, Pune – 411052,
Maharashtra, India |
|
Date of Birth/Age : |
09.08.1955 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
27.03.2002 |
|
DIN No.: |
00024245 |
|
|
|
|
Name : |
Mr. Vegulaparanan Kasi Viswanathan |
|
Designation : |
Director |
|
Address : |
No. 289, 38th Cross, 8th Block, Jayanagar,
Bangalore – 560082, Karnataka, India |
|
Date of Birth/Age : |
20.11.1950 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
01.02.2008 |
|
DIN No.: |
01782934 |
|
|
|
|
Name : |
Franz Hauber Xaver |
|
Designation : |
Additional director |
|
Address : |
No. 289 38th Cross 8th Block, Jayanagar, Bangalore - 560082,
Karnataka, India |
|
Date of Birth/Age : |
18.07.1959 |
|
Date of Appointment : |
01.01.2013 |
|
DIN No.: |
06485529 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Dnyanoba Dighe |
|
Designation : |
Secretary |
|
Address : |
Matoshri, 3rd Floor, 742, Guruwar Peth, Pune – 411042, |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
22.12.2009 |
|
PAN No.: |
AKCPD8987B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.06.2012
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 01.06.2012
|
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] |
|
97.96 |
|
Bodies
corporate |
|
0.06 |
|
Other
top fifty shareholders |
|
0.34 |
|
Others
|
|
1.64 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Automotive Brake Systems and Components. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.12.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Hydraulic, Air and Air over
Hydraulic brake component |
PCS
('000) |
45653 |
-- |
|
Hydraulic
Brake Components |
|
|
|
|
a) Rear Brake Assembly |
PCS
('000) |
-- |
3529 |
|
b) Tandem Master Cylinder |
PCS
('000) |
-- |
2583 |
|
c) Front Caliper Assembly |
PCS
('000) |
-- |
886 |
|
d) Rotors (Discs) |
PCS
('000) |
-- |
1054 |
|
e)
Two Wheeler Brakes |
PCS
('000) |
-- |
-- |
|
f)
Brake Fluid |
Ltrs
('000) |
|
2388 |
GENERAL INFORMATION
|
No. of Employees : |
3000
[Approximately] |
|
|
|
|
Bankers : |
Ř State Bank of
India, Industrial Finance Branch, Wakadewadi, Pune – 411003, Maharashtra,
India Ř State Bank of
India, Tara Chambers, Wakadewadi, Pune-Mumbai Road, Pune – 411003,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
Mutha Towers, 5th
Floor, Suite No. 8, Airport Road, Yerawada, Pune – 411006, Maharashtra, India
|
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Subsidiaries : |
Ř Precision Seals
Manufacturing Limited [U25199MH1989PLC050925] Ř Foundation Brake
Manufacturing Limited [U34200PN2011PLC140066] |
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,793,000 |
Equity Shares |
Rs. 10/- each |
Rs. 207.930
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
207.930 |
207.930 |
207.930 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3673.317 |
3404.077 |
2911.632 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3881.247 |
3612.007 |
3119.562 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
342.092 |
362.419 |
397.990 |
|
|
TOTAL BORROWING |
342.092 |
362.419 |
397.990 |
|
|
DEFERRED TAX LIABILITIES |
109.714 |
103.470 |
142.721 |
|
|
|
|
|
|
|
|
TOTAL |
4333.053 |
4077.896 |
3660.273 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2315.360 |
1782.430 |
1844.428 |
|
|
Capital work-in-progress |
194.304 |
325.614 |
134.224 |
|
|
|
|
|
|
|
|
INVESTMENT |
96.094 |
598.690 |
560.067 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1468.879
|
1007.781 |
579.979 |
|
|
Sundry Debtors |
1643.829
|
1100.117 |
814.046 |
|
|
Cash & Bank Balances |
483.421
|
615.314 |
687.554 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
697.358
|
584.459 |
608.133 |
|
Total
Current Assets |
4293.487
|
3307.671 |
2689.712 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2241.049
|
1652.307 |
1309.039 |
|
|
Other Current Liabilities |
204.995
|
160.180 |
117.218 |
|
|
Provisions |
120.148
|
124.022 |
141.901 |
|
Total
Current Liabilities |
2566.192
|
1936.509 |
1568.158 |
|
|
Net Current Assets |
1727.295
|
1371.162 |
1121.554 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4333.053 |
4077.896 |
3660.273 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10140.997 |
8102.214 |
5923.204 |
|
|
|
Other Income |
354.384 |
322.464 |
318.992 |
|
|
|
TOTAL (A) |
10495.381 |
8424.678 |
6242.196 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
7064.943 |
5379.484 |
|
|
|
|
Manufacturing service costs |
1842.409 |
1419.321 |
|
|
|
|
Employee related expenses |
861.743 |
676.638 |
|
|
|
|
TOTAL (B) |
9769.095 |
7475.443 |
5420.598 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
726.286 |
949.235 |
821.598 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.255 |
5.600 |
7.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
719.031 |
943.635 |
814.237 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
325.997 |
320.138 |
279.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
393.034 |
623.497 |
534.481 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
123.795 |
131.051 |
82.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
269.239 |
492.446 |
452.137 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2872.229 |
2379.783 |
1966.646 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
39.000 |
|
|
BALANCE CARRIED
TO THE B/S |
3141.468 |
2872.229 |
2379.783 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
191.814 |
130.001 |
|
|
|
Commission Earnings |
|
0.000 |
4.190 |
|
|
|
Other Earnings |
N.A. |
191.814 |
134.191 |
|
|
TOTAL EARNINGS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
1439.314 |
844.139 |
|
|
|
Capital Goods |
|
31.602 |
96.765 |
|
|
|
Stores & Spares |
|
19.924 |
10.689 |
|
|
TOTAL IMPORTS |
N.A. |
1490.840 |
951.593 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.00 |
20.00 |
22.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
2.57
|
5.85 |
7.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.88
|
7.70 |
9.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.95
|
12.25 |
11.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.17 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.09
|
0.10 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.71 |
1.72 |
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.12.2011 |
31.12.2010 |
|
|
(Rs. In Millions) |
|
|
Deferred sales tax loan unsecured |
342.092 |
362.419 |
|
Total |
342.092 |
362.419 |
Note: The registered office
address of the company has been shifted from Panchshil, Quadra 1, Magarpatta
City Road, 238 Hadapsar, Pune – 411028, Maharashtra, India to present address
w.e.f 01.07.2011
FIXED ASSETS:
Ř
Freehold Land
Ř
Leasehold Land
Ř
Building
Ř
Leasehold Building
Ř
Plant and Machinery
Ř
Furniture
Ř
Vehicles
WEBSITE DETAILS:
PRESS RELEASE
BOSCH INDIA AND WABCO INDIA
ORGANIZE ‘SAFETY DRIVE’ SYMPOSIUM TO PROMOTE VEHICLE SAFETY
·
Initiative
to generate awareness on state of vehicle safety in India and available
industry solutions
·
Event
to be attended by international vehicle safety experts
·
Live
demonstrations and test drive of vehicles fitted with and without ESP® &
ABS
February 5, 2013, Chennai: Bosch India, a leading provider of products and services in the automotive technology, energy and building technology, industrial technology and consumer goods space is organizing the ‘Safety Drive’ symposium in collaboration with WABCO INDIA. WABCO is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles. Taking place on February 5-6, 2013 at WABCO’s proving ground and test track in Chennai, the symposium will serve as a platform for industry bodies, OEMs and media to examine and deliberate on the present state of vehicle safety in India. The symposium thus aims at highlighting available technologies and solutions to improve vehicle and road safety in India.
Present state of global road accident fatalities
According to the United Nations (UN), worldwide 1.3 million people die in traffic accidents each year, and 50 million are injured. Within ten years, the number of annual road deaths could rise to 1.9 million – nearly a 50 percent rise. This is driven mainly by the rapid growth in road traffic in the emerging countries. The UN has thus announced 2011-2020 as the ‘Decade of Action for Road Safety’ with the objective to reduce the forecasted number of road deaths by 50%. One of the five pillars that the UN has described for this project is ‘Safer Vehicles’. This entails universal deployment of crash avoidance and mitigation technologies, such as the Electronic Stability Program (ESP®) Anti-Lock Braking System (ABS) and Electronic Stability Control (ESC) in commercial vehicles, cars and motorcycles.
Road accident fatalities in India
According to the latest Road Transport ministry report India, with one road accident every minute in 2011 that claimed one life every 3.7 minutes, perhaps has the highest road fatality rate in the world. The need to tackle this issue expeditiously couldn’t have been more pronounced. Keeping in view the urgency to address this problem, Bosch and WABCO being two of the major providers of vehicle safety solutions to the market, have taken the initiative to collaborate with the automobile industry to discuss possible measures in this direction.
An initiative towards vehicle safety awareness
Commenting on the event, Mr. Balasubramanian, Deputy Managing Director Bosch Chassis Systems India Limited said, “The ‘Safety Drive’ symposium is in an initiative to garner the collective effort of all stakeholders who support the cause of improved vehicle safety in India. As a company dedicated to developing technology that is ‘invented for life’ it is imperative that Bosch contributes towards making vehicles safer. It is crucial that critical safety features become a mandatory aspect of any vehicle that plies on Indian roads. The problems and fatalities on Indian roads are very real and it is imperative that we use available technology and global best practices to make our vehicles safer. And in this endeavour we look forward the support of OEMs, the government, industry players and the end users themselves.”
Reinforcing WABCO’s commitment to advance safety and driver effectiveness in commercial vehicles, Mr. P. Kaniappan, Whole-Time Director, WABCO INDIA said, “Alongside the rapid growth in traffic volumes and transportation routes throughout India, we are facing an alarming growth in the number and severity of road accidents. Partnering on this ‘Safety Drive’ initiative with Bosch offers WABCO a powerful platform to highlight the positive and proven impact of established commercial vehicle safety technologies, including ABS (Anti-Lock Braking System) and ESC (Electronic Stability Control), which have the potential to significantly reduce the number of accidents on India’s roads.
Participation of international experts
“The ‘Safety Drive’ Symposium will see the participation of international experts. David Ward, Director General of the FIA Foundation for the Automobile and Society, a UK registered charity that promotes road safety, and sustainable mobility will speak on the topic of “The Decade of Action for Road Safety-Global Plan”, Mr. Thomas Lich from Bosch Corporate Research will present on Accident Research in India, while Dr. Christian Wiehen, Chief Technology Officer, WABCO will speak on the topic of “Improving Road Safety in India with Commercial Vehicle Control Systems”.
Symposium guests also include Prince Michael of Kent (first cousin to Her Majesty Queen Elizabeth II) a patron of the Global Road Safety Commission and Mr. B. Bhanot Chairman TEDC (BIS) – a major authority in formulation and implementation of safety and emission regulations in the country.
About Bosch
The Bosch Group is a leading global supplier of technology and services, active
in the fields of automotive technology, energy and building technology,
industrial technology, and consumer goods. According to preliminary figures,
more than 306,000 associates generated sales of 52.3 billion euros in 2012. The
Bosch Group comprises Robert Bosch GmbH and its more than 350 subsidiaries and
regional companies in some 60 countries. If its sales and service partners are
included, then Bosch is represented in roughly 150 countries. This worldwide
development, manufacturing, and sales network is the foundation for further
growth. Bosch spent some 4.5 billion euros for research and development in
2012, and applied for over 4,700 patents worldwide. The Bosch Group’s products
and services are designed to fascinate, and to improve the quality of life by
providing solutions which are both innovative and beneficial. In this way, the
company offers technology worldwide that is “Invented for life.
The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH. More information is available online at www.bosch.com and www.bosch-press.com.
About Bosch in India
In India, Bosch is a leading supplier of technology and services in the areas
of automotive and industrial technology, consumer goods and building
technology. Additionally, Bosch also has in India, the largest development
centre, outside Germany, for end to end engineering and technology solutions.
The Bosch Group operates in India through six companies, viz, Bosch Limited,
Bosch Chassis Systems India Limited, Bosch Rexroth India Limited, Robert Bosch
Engineering and Business Solutions Limited, Bosch Automotive Electronics India
Private Limited, Bosch Electrical Drives India Private Limited. In India, Bosch
set up its manufacturing operation in 1953, which has grown over the years to
include 13 manufacturing sites and 7 development and application centers. Bosch
Group in India employs over 27,000 associates. In India it generated
consolidated revenue of over Rs. 113000.000 Millions in 2011.
In India Bosch Limited is the flagship company of the Bosch Group. It earned revenue of over Rs 80000.000 Millions in 2011. Additional information can be accessed at www.boschindia.com
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. 54.05 |
|
|
1 |
Rs. 83.45 |
|
Euro |
1 |
Rs. 72.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
TOTAL |
|
63 |
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.