MIRA
INFORM REPORT
|
Report Date : |
28.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
FAURECIA EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED [w.e.f.
06.05.2010] |
|
|
|
|
Formerly Known
As : |
EMCON TECHNOLOGIES INDIA PRIVATE LIMITED (w.e.f. 01.08.2007) ARVIN EXHAUST INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.04.1997 |
|
|
|
|
Com. Reg. No.: |
18-037962 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.140.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130TN1997FTC037962 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA02562A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA8450F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacture of automotive
exhaust systems, technical and related design services |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
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.
|
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: |
|
|
Tel. No.: |
91-44-67404999 |
|
Fax No.: |
91-44-27464646 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
#86/1, Kumbalagodu Industrial Area, Phase II, Mysore Road, Bangalore –
560074, Karnataka, India |
|
Tel No.: |
91-80-28437092/93/94 |
|
|
|
|
Branch Office : |
17 and 18, Sengindram Industrial Area, Melrosapuram, S.P. Koil Post –
603 204, |
|
Tel. No.: |
91-44-67404999, 27464640, 27464633 , 27464620 |
|
Fax No.: |
91-44-27464620 |
DIRECTORS
AS ON 29.11.2012
|
Name : |
Mr. Deepak Chopra |
|
Designation : |
Director Appointed In Casual Vacancy |
|
Address : |
H No 7 and 8, Anfilco Housing Colony, Anand Farm, Palam Gurgaon Road,
Dundahera, Guragaon-122016, Haryana, India
|
|
Date of Birth/Age : |
25.12.1954 |
|
Date of Appointment : |
15.06.2012 |
|
DIN No.: |
00028770 |
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 |
U29309TN1997PLC038508 |
VALEO FRICTION
MATERIALS INDIA LIMITED |
Director |
24/09/2012 |
26/06/1997 |
- |
Active |
NO |
|
2 |
U74899DL1996PLC076149 |
ECHLIN INDIA
LIMITED |
Director |
17/08/1999 |
17/08/1999 |
- |
Strike off |
NO |
|
3 |
U35999TN1997PLC039028 |
MANDO INDIA
LIMITED |
Director |
31/01/2000 |
31/01/2000 |
04/09/2009 |
Active |
NO |
|
4 |
U29117PN2001PLC018092 |
VICTOR GASKETS
INDIA LIMITED |
Director |
19/07/2001 |
19/07/2001 |
08/02/2010 |
Active |
NO |
|
5 |
U74899DL1994PLC062873 |
AFM INDIA
LIMITED |
Director |
15/11/2001 |
15/11/2001 |
- |
Active |
|
|
6 |
U74999MH1975PLC206199 |
ANAND AUTOMOTIVE
LIMITED |
Managing
director |
01/04/2002 |
01/04/2002 |
20/01/2009 |
Active |
NO |
|
7 |
U24222HR1996PLC033371 |
HENKEL TEROSON
INDIA LIMITED |
Director |
22/05/2002 |
22/05/2002 |
- |
Active |
NO |
|
8 |
U65993MH1966PTC206200 |
ASIA INVESTMENTS
PRIVATE LIMITED |
Director |
20/06/2002 |
20/06/2002 |
24/06/2010 |
Active |
NO |
|
9 |
U51909DL1992PLC049978 |
CHANG YUN INDIA
LIMITED |
Director |
24/06/2002 |
24/06/2002 |
26/09/2011 |
Active |
NO |
|
10 |
U85110DL1981PLC191868 |
DYTEK INDIA
LIMITED |
Director |
19/12/2002 |
19/12/2002 |
- |
Active |
NO |
|
11 |
U33699DL1980PLC010179 |
ANSYSCO LIMITED |
Director |
13/03/2004 |
13/03/2004 |
- |
Amalgamated |
NO |
|
12 |
U29197DL1997PTC163461 |
MAHLE FILTER
SYSTEMS (INDIA) PRIVATE LIMITED |
Director |
23/03/2005 |
23/03/2005 |
- |
Amalgamated |
NO |
|
13 |
U34300MH1993PLC073227 |
SPICER INDIA
LIMITED |
Managing
director |
19/01/2009 |
27/09/2005 |
- |
Active |
NO |
|
14 |
U29197DL1986PLC025120 |
DEGREMONT
LIMITED |
Director |
05/06/2006 |
05/06/2006 |
04/01/2012 |
Active |
NO |
|
15 |
U29199HR2006PLC043262 |
FEDERAL-MOGUL BEARINGS
INDIA LIMITED |
Alternate
director |
01/09/2010 |
17/07/2006 |
03/10/2010 |
Active |
NO |
|
16 |
U29130TN1997FTC037962 |
FAURECIA
EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED |
Director
appointed in casual vacancy |
15/06/2012 |
16/05/2007 |
- |
Active |
NO |
|
17 |
U45400HR2008PTC037677 |
CAMFIL FARR AIR
FILTRATION INDIA PRIVATE LIMITED |
Director |
04/03/2008 |
04/03/2008 |
12/08/2011 |
Active |
NO |
|
18 |
U29130TN2008PTC066530 |
C Y MYUTEC
AUTOMOTIVE INDIA PRIVATE LIMITED |
Director |
15/05/2008 |
15/05/2008 |
29/06/2011 |
Active |
NO |
|
19 |
L34101PN1961PLC015735 |
GABRIEL INDIA
LIMITED |
Director |
21/05/2008 |
21/05/2008 |
- |
Active |
NO |
|
20 |
U34300PN1997PLC107619 |
BEHR INDIA
LIMITED |
Director |
29/09/2009 |
27/03/2009 |
- |
Active |
NO |
|
21 |
U74899DL1966PLC004919 |
MAHLE FILTER
SYSTEMS (INDIA) LIMITED |
Alternate
director |
29/11/2012 |
02/06/2009 |
29/11/2012 |
Active |
NO |
|
22 |
U50100TN2012PTC084043 |
VALEO SERVICE
INDIA AUTO PARTS PRIVATE LIMITED |
Alternate director |
13/04/2012 |
13/04/2012 |
07/12/2012 |
Active |
NO |
|
Name : |
Mr. Venkatesh Madhavan |
|
Designation : |
Director |
|
Address : |
4A, Mauli Towers, 92 CP Ramasamy Road, Alwarpet, Chennai-600018,
Tamilnadu, India |
|
Date of Birth/Age : |
15.05.1962 |
|
Date of Appointment : |
15.06.2012 |
|
DIN No.: |
00104932 |
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 |
U28910DL1991PTC127698 |
ANAND
TECHNOLOGY RESOURCE PARK PRIVATE LIMITED |
Director |
13/10/2004 |
13/10/2004 |
Amalgamated |
NO |
|
2 |
U35999TN1997PLC039028 |
MANDO
INDIA LIMITED |
Managing
director |
01/01/2011 |
23/08/2006 |
Active |
NO |
|
3 |
U29130TN1997FTC037962 |
FAURECIA
EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED |
Director |
15/06/2012 |
15/06/2012 |
Active |
NO |
|
Name : |
Mr. Simon Holmes |
|
Designation : |
Director |
|
Address : |
Batiment e Residence Colbert, 16 Rue Du Ge Gaule, |
|
Date of Birth/Age : |
12.03.1970 |
|
Qualification : |
B.Sc (Genetics), |
|
Date of Appointment : |
09.09.2011 |
|
DIN : |
03041117 |
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 |
U29130TN1997FTC037962 |
FAURECIA
EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED |
Director
appointed in casual vacancy |
09/09/2011 |
19/03/2010 |
Active |
NO |
|
2 |
U35914PN2001FTC015991 |
YUTAKA
AUTOPARTS PUNE PRIVATE LIMITED |
Director
appointed in casual vacancy |
24/01/2011 |
24/01/2011 |
Amalgamated |
NO |
|
Name : |
Mr. Seung Kyu Lee |
|
Designation : |
Director Appointed In Casual Vacancy |
|
Address : |
953, Jyung-ki-do, Yong In, |
|
Date of Birth/Age : |
08.07.1955 |
|
Qualification : |
MBA |
|
Date of Appointment : |
08.06.2011 |
|
DIN : |
03529687 |
|
|
|
|
Name : |
Mr. Thierry Paul Robert Clement Depoux |
|
Designation : |
Director |
|
Address : |
06, Avenue Lazare Hoche, |
|
Date of Birth/Age : |
05.11.1962 |
|
Qualification : |
MBA |
|
Date of Appointment : |
19.03.2010 |
|
DIN : |
3041072 |
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 |
U29130TN1997FTC037962 |
FAURECIA
EMISSIONS CONTROL TECHNOLOGIES INDIA PRIVATE LIMITED |
Director |
30/09/2011 |
19/03/2010 |
Active |
NO |
|
2 |
U35914PN2001FTC015991 |
YUTAKA
AUTOPARTS PUNE PRIVATE LIMITED |
Director
appointed in casual vacancy |
24/01/2011 |
24/01/2011 |
Amalgamated |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Jagadish Ram Chandrasekaran |
|
Designation : |
Secretary |
|
Address : |
No. 2, Bhavani Street, Bharath Nagar, Adambakkam, Chennai-600088,
Tamilnadu, India |
|
Date of Birth/Age : |
27.06.1984 |
|
Date of Appointment : |
31.03.2009 |
|
PAN No : |
AHRPJ5072H |
|
|
|
|
Name : |
Mr. Mahendra Arivnd Killedar |
|
Designation : |
Manager |
|
Address : |
205, Kumar Paritosh, Karvenagar, Near Corporation Bank, Pune-411052, |
|
Date of Birth/Age : |
30.10.1968 |
|
Date of Appointment : |
03.06.2010 |
|
PAN No : |
ABRPK8633M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.11.2012
|
Names of Shareholders |
No. of Shares |
|
Faurecia Emissions Control Systems Korea Company Limited, |
10360000 |
|
Asia Investments Private Limited, |
3640000 |
|
TOTAL
|
14000000 |
AS ON 29.11.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
74.00 |
|
Bodies corporate |
26.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacture of automotive
exhaust systems, technical and related design services |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Muffler Assembly |
Nos. |
600000 |
207704 |
|
CAT Convertor and Down Pipes |
Nos. |
600000 |
221023 |
|
Side Impact Beam |
Nos. |
0.000 |
585 |
|
Instrument Panel Assembly |
Nos. |
210000 |
73236 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Lovelock and Lewes, PWC Centre, 32, Khader Nawaz Khan,
Road, Nungambakkam, Chennai - 600006, Tamilnadu,. |
|
PAN No.: |
AAEFP5579P |
|
|
|
|
Holding Company : |
·
ET Dutch Holdings BV ( Up to July 29th, 2011) ·
Faurecia Emissions Control Systems, Korea ( July
30th 2011 onwards) |
|
|
|
|
Associates : |
·
Asia Investments Private Limited |
|
|
|
|
Fellow Subsidiaries : |
·
FECT Technologies (UK) ·
Faurecia ECT Netherlands BV ·
Faurecia Emissions Control Technologies Germany
(Augsburg) GmbH ·
Faurecia Emissions Control Technologies
(Chongqing) Company Limited ·
Faurecia Emissions Control Technologies Spain ,
S.L. ·
ET Mexico Holdings I S de RL de CV ·
Faurecia Environmental Technologies (Shanghai)
Company Limited ·
FECT Technologies LLC, USA ·
Faurecia Emissions Control Technologies Limeira
Ltda ·
Faurecia Emissions Control Technologies Limeira
Ltda ·
Faurecia Systemes D'Echappement ·
Emission Control Technologies South Africa (Cape
Town) (Pty.) Limited ·
Faurecia Emission Control Technologies Thailand
Limited ·
US Holdings Shared service Centre, USA ·
Faurecia-Metalloprodukcia Exhaust Systems LLC,
Hungary ·
Faurecia Technology Centre India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs. 320.000 Millions |
|
|
|
|
|
(Authorized capital
increased consequent to Scheme of Amalgamations with Yutaka Autoparts Pune
Private Limited)
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14000000 |
Equity Shares |
Rs.10/- each |
Rs. 140.000 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 |
140.000 |
140.000 |
90.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
225.910 |
119.700 |
73.903 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
365.910 |
259.700 |
163.903 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
263.510 |
125.850 |
53.980 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
263.510 |
125.850 |
53.980 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.630 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
629.420 |
386.180 |
217.883 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
466.490 |
256.740 |
100.826 |
|
|
Capital work-in-progress |
0.000 |
65.060 |
102.289 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
31.570 |
0.000 |
|
|
DEFERREX TAX ASSETS |
13.130 |
0.000 |
6.080 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
114.370
|
94.830
|
90.433
|
|
|
Sundry Debtors |
394.610
|
177.840
|
85.293
|
|
|
Cash & Bank Balances |
134.040
|
9.130
|
2.861
|
|
|
Other Current Assets |
13.950
|
0.000
|
0.000
|
|
|
Loans & Advances |
128.430
|
53.020
|
56.036
|
|
Total
Current Assets |
785.400
|
334.820 |
234.623 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
289.800
|
136.810
|
118.124
|
|
|
Other Current Liabilities |
272.570
|
126.500
|
91.900
|
|
|
Provisions |
73.230
|
38.700
|
15.911
|
|
Total
Current Liabilities |
635.600
|
302.010 |
225.935 |
|
|
Net Current Assets |
149.800
|
32.810
|
8.688
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
629.420 |
386.180 |
217.883 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2582.000 |
1114.300 |
515.539 |
|
|
|
Service Income |
NA |
NA |
38.443 |
|
|
|
Other Income |
NA |
NA |
17.110 |
|
|
|
TOTAL (A) |
NA |
NA |
571.092 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
340.467 |
|
|
|
Employee costs |
NA |
NA |
55.677 |
|
|
|
Other expenses |
|
|
86.853 |
|
|
|
TOTAL (B) |
NA |
NA |
482.997 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
266.200 |
134.500 |
88.095 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.800 |
11.100 |
3.360 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
231.400 |
123.400 |
84.735 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
86.400 |
33.100 |
14.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
145.000 |
90.300 |
70.085 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
53.700 |
28.200 |
20.514 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
91.300 |
62.100 |
49.571 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
109.700 |
63.900 |
24.862 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserves |
4.600 |
0.000 |
0.000 |
|
|
|
Interim and Final Dividend |
0.000 |
0.000 |
9.000 |
|
|
|
Tax on Dividend |
24.400 |
16.300 |
1.530 |
|
|
BALANCE CARRIED
TO THE B/S |
172.000 |
109.700 |
63.903 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
20.760 |
27.410 |
11.153 |
|
|
|
Services Rendered |
98.370 |
64.630 |
38.443 |
|
|
TOTAL EARNINGS |
119.130 |
92.040 |
49.596 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
395.120 |
155.380 |
95.991 |
|
|
|
Stores & Spares |
3.260 |
2.590 |
0.590 |
|
|
|
Capital Goods |
50.650 |
39.020 |
53.340 |
|
|
TOTAL IMPORTS |
449.030 |
196.990 |
149.921 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.52 |
4.43 |
5.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
8.68
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.62
|
8.10 |
13.59
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.46
|
15.26 |
20.89
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.35 |
0.43
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.72
|
0.48 |
0.33
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.11 |
1.04
|
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 |
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 |
No |
|
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] |
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 |
OPERATIONS AND BUSINESS PROSPECTS
The company has
achieved a turnover of Rs. 2,582.000 Million compared to Rs. 1,114.300 Million
during the previous year. The increase in the turnover for the current year is
on account of higher volume off take by Ford, Nissan and Toyota and
commencement of SOP for Hyundai (Verna and Eon). Current year turnover also
include sales made by Pune plant (Erstwhile known as Yutaka Autoparts Pune
Private Limited) to Tata Motors. Raw material prices continued their upward
march on back of rising commodity prices driven by weakening rupee against US
Dollar.
NOTES ON AMALGAMATIONS
Pursuant to the
scheme of amalgamation approved by the Honourable High Courts of Bombay and
Chennai, Yutaka Autoparts Pune Private Limited (transferor company) has been merged
with the Company with retrospective effect from April 1, 2011, the Appointed
Date. The High Court Order has been filed with the Registrar of Companies on
March 1, 2012. The transferor company was engaged on the business of
Manufacture of Exhaust Systems and Catalytic converter in automotives, which is
similar to the company’s business. The amalgamation is expected to lead to
economies of scale by minimising the cost of operation and administration. The
amalgamation has been accounted as ‘amalgamation in the nature of merger’ in
accordance with the terms of the High Court Order and consequently the pooling
of interest method has been used.
The assets and
liabilities of the erstwhile Yutaka Autoparts Pune Private Limited as at April
1, 2011 have been taken over at their book values as mentioned below. The
investment held by the Company in the share capital of transferor company has
been cancelled. As per Honourable High court of Bombay order, the excess of net
assets over the investment aggregating to Rs. 39.36 Millions has been credited
to the general reserve of the Company.
FIXED ASSETS
·
Buildings
·
Plant and Machinery
·
Furniture, Fittings and
Equipments
·
Vehicles
WEBSITE DETAILS
NEWS
AUTO COMPONENTS MAKER FAURECIA PLANS TO GROW ASIA
BUSINESS
Mr. Christophe Schmitt (left), Executive Vice-President, Faurecia Interior Systems with Mr. Nicolas Pechnyk, Vice-President, Engineering, and Mr. Franck Euvrard, Managing Director, at the inauguration of Faurecia’s new R and D centre near Pune.
Pune, June 21:
French auto components maker Faurecia
has set up a new, expanded R and D facility at Pune to grow the Asia business.
The new Tech Centre will cater to
conceptualising, designing and validation for products in automotive interior systems,
automotive seating and auto exteriors, three of its four business groups.
Asia-Pacific is a top priority for
Faurecia Interior Systems (FIS), Mr. Christophe Schmitt, Executive
Vice-President, FIS said. He added that in India, Pune, Chennai and Delhi are
the three main clusters the company will follow.
The Group is targeting sales from the
APAC region to touch €4 billion by 2015. While the main growth will come from
China, India is also important, he said, adding, “Our goal is that 50 per cent of
our global sales will come from outside Europe by 2015.” Currently, Europe
accounts for 62 per cent of its business.
Faurecia’s R and D Centre at Pune has
already been operational since 2004 and has filed two patents last year. This
year the company has a target to file five patents. Set up with an investment
of Rs 1100.000 Millions, the new Tech Centre is an autonomous, fully integrated
facility designed to accommodate 800 engineers, of which 600 are already on
board.
Mr. Schmitt said that the company aims
to develop products that are high on safety, quality and comfort here.
Globally, nearly 39 per cent of
Faurecia’s revenues come from German automakers including VW, BMW and Daimler.
The premium brands represent 28 per
cent of revenue worldwide. In India it supplies components to OEMs such as
Mercedes, M and M, Hyundai and Ford.
The Pune Tech Centre is Faurecia’s
second centre in India after Bangalore where Emission Control Technologies are
developed. The company also has nine manufacturing plants in the country.
2013
FORD ESCAPE DRIVES OFF ASSEMBLY LINE WITH FAURECIA INTERIOR AND EMISSIONS
CONTROL TECHNOLOGY
PR
Newswire
AUBURN HILLS, Mich., June 13, 2012
/PRNewswire/ -- As the 2013 next-generation Ford
Escape begins rolling off the assembly line in Louisville, Ky. it carries Faurecia
technology both inside and under the vehicle.
A
new 200,000-square-foot Faurecia Interior Systems
plant in Louisville is producing the Escape's
instrument panel with advanced techniques that contribute to improved fuel economy.
The Escape is the first Faurecia program that employs Mucell® injection
technology, a production methodology in which gas is added into the molded
plastic part during injection. The result is an instrument panel that is 10
percent lighter, since less plastic is used, while retaining top-quality
performance.
The
instrument panel for the Escape is the largest automotive component molded
using the Mucell® process and has earned Faurecia and Ford the Grand Award from
the Society of Plastics Engineers for the most innovative use of automotive
plastics. The Faurecia Interior Systems plant manufactures the instrument
panels and assembles the cockpits for the Escape.
At
the same time, Faurecia Emissions Control Technologies plants in Franklin, Ohio, and Hermosillo,
Mexico, are producing a full lightweight exhaust system for the 2013
Escape. Together, the facilities are manufacturing a complete exhaust line that
includes a transverse muffler that accommodates the Escape's small SUV design.
Faurecia
is part of Ford's global Aligned Business Framework (ABF), a preferred supplier
network that plays a key role in Ford's global sourcing plans, working
with the automaker to drive mutual profitability and technology
development.
"Faurecia's
priority has been the development of innovative technology to support the new
generation of lightweight, high-mileage vehicles," said Faurecia North
America President Mike Heneka. "The all-new
2013 Ford Escape incorporates many of these technologies as it introduces a new
design and new capabilities that appeal to a wide-ranging consumer market.
Faurecia is proud to be a Ford ABF supplier and to have the opportunity to
share the innovative spirit that makes vehicles like the 2013 Escape a
reality."
The
2013 Escape is Ford's newest sport utility vehicle and is designed to provide
better fuel economy, up to 23 mpg city and 33 mpg highway, than any other
vehicle of its kind on the market.
About Faurecia Faurecia is the world's sixth-largest automotive equipment supplier with
four key Business Groups: Automotive Seating, Emissions Control Technologies,
Interior Systems and Automotive Exteriors. In 2011, the Group posted total
sales of $22.5 billion. Faurecia employs 84,000
people in 33 countries at 270 sites and 40 R&D centers. Faurecia is listed
on the NYSE Euronext Paris stock exchange.
About Faurecia North America Faurecia North America had sales of $4.8
billion in 2011. The Group has 36 production sites in the United States, Canada
and Mexico and employs more than 17,000 people
in the region. It has five technical and development centers, situated in Auburn Hills (2), Holland
and Troy, Mich., and in Columbus,
Ind., as well as customer centers in Southfield,
Mich., and Toledo, Ohio.
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. 53.83 |
|
|
1 |
Rs. 81.24 |
|
Euro |
1 |
Rs. 70.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.