MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
BOMBARDIER TRANSPORTATION INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
ABB DAIMLER-BENZ TRANSPORTATION ( |
|
|
|
|
Registered
Office : |
Unit No. 11 to 21, Ground Floor, The Grand Hotel, The Grand Plaza,
Vasant Kunj, Phase – II, Nelson Mandela Road, New Delhi – 110070 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.12.1995 |
|
|
|
|
Com. Reg. No.: |
55-074938 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 818.082
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PLC074938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB04764E / DELB04749D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA5584C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Supplier of Rail Transportation Systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4170000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Bombardier Transportation Holding
Singapore Pte Limited”. It is a well established company having a moderate track record. There
appear huge losses recorded by the company. However, the networth of the company appears to be strong. There seems
to be no external borrowing. The subject gets good financial support from its
group company. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 : |
Unit No. 11 to 21, Ground Floor, The Grand Hotel, The Grand Plaza,
Vasant Kunj, Phase – II, Nelson Mandela Road, New Delhi – 110070, India |
|
Tel. No.: |
91-11-26180340/ 41 |
|
Fax No.: |
91-11-26186651 |
|
E-Mail : |
mukesh_agarwal3@rediffmail.com |
|
Website : |
|
|
|
|
|
Factory 1: |
724, GIDC Industrial Estate, Phase III, Savli, Vadodara – 390013, |
|
Tel. No.: |
91-265-2353068 |
|
|
|
|
Factory 2/ Warehouse : |
|
|
Tel. No.: |
91-265-2648761/ 762/ 2638953 |
|
Fax No.: |
91-265-2649669/ 2638951 |
|
|
|
|
Factory 3 : |
Brown Boveri House, Race Course Circle, Vadodara – 390007, Gujarat, India |
|
Tel. No. : |
91-265-2353068 |
|
Fax No. : |
91-265-2355891 |
DIRECTORS
AS ON 05.06.2012
|
Name : |
Benoit Jean Rene Cattin |
|
Designation : |
Managing director |
|
Address : |
60 Rue De Provence Paris, France – 75009 |
|
Date of Birth/Age : |
09.07.1968 |
|
Qualification : |
B.Sc. Eng. |
|
Date of Appointment : |
11.08.2011 |
|
DIN No.: |
03592256 |
|
|
|
|
Name : |
Mr. Olivier Jean Stephane Guitton |
|
Designation : |
Director |
|
Address : |
Bombardier Transportation France SAE Place
DES Ateliers, BP-1, 59154, Crespin, France |
|
Date of Birth/Age : |
02.08.1967 |
|
Qualification : |
EDHEC Diploma |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
02349378 |
|
|
|
|
Name : |
Marcel Cornelis Johannes Fassbender |
|
Designation : |
Director |
|
Address : |
Scharfschwerdt Strasse, 39-A, D – 16540,
Hohen Neuendorf Germany |
|
Date of Birth/Age : |
01.12.1971 |
|
Qualification : |
University
Degree in Law and Doctors of Law |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
02364781 |
|
|
|
|
Name : |
Mr. Harsh Dhingra |
|
Designation : |
Whole-time director |
|
Address : |
HIG Flat No. 56C, Navyug Adarsh Apartment,
F Block, Vikaspuri, New Delhi – 110018, India |
|
Date of Birth/Age : |
02.07.1961 |
|
Qualification : |
MBA, BE-Electrical |
|
Date of Appointment : |
11.08.2011 |
|
PAN No.: |
AADPD9624J |
|
DIN No.: |
03586283 |
|
|
|
|
Name : |
Mr. Dilipsinh Prabhatsinh Jadeja |
|
Designation : |
Whole-time director |
|
Address : |
501, Pavanveer Flats, Opposite General
Post Office 33D, Pratapgunj, Vadodara – 390002, Gujarat, India |
|
Date of Birth/Age : |
15.05.1966 |
|
Qualification : |
BE (MECH),
Diploma in Finance |
|
Date of Appointment : |
11.08.2011 |
|
PAN No.: |
AAWPJ0437C |
|
DIN No.: |
03589440 |
KEY EXECUTIVES
|
Name : |
Mr. Arun Kumar Gupta |
|
Designation : |
Secretary |
|
Address : |
B-3/3, Birla Copper Township, Dahej Taluka Vagra, Bharuch - 392001,
Gujarat, India |
|
Date of Birth/Age : |
10.11.1966 |
|
Date of Appointment : |
23.09.2010 |
|
PAN No.: |
AAQPG0702K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Bombardier Transportation Capital Holding Netherlands SE, Netherland |
|
1 |
|
Bombardier Transportation Global Holding SE, Netherland |
|
1 |
|
Bourdon Sylvie |
|
1 |
|
Nicolas Banerjea Brodeur |
|
1 |
|
Martel Cattin Benoit |
|
1 |
|
Hvid Kehler Tine |
|
1 |
|
Bombardier Transportation (Holdings) Singapore Pte Limited, Singapore |
|
81808147 |
|
Vineet Bansal |
|
1 |
|
|
|
|
|
Total |
|
81808154 |
AS ON 05.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Bombardier Transportation (Holdings) Singapore Pte Limited, Singapore |
|
17375800 |
|
|
|
|
|
Total |
|
17375800 |
AS ON 05.06.2012
|
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] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Rail Transportation Systems. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
State Bank of India, Industrial Finance Branch, Vadodara, Gujarat, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View
Corporate, Tower-B, Sector-42, Sector Road, Gurgaon, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Ultimate Holding
Company : |
Bombardier Inc., Canada |
|
|
|
|
Intermediate
Holding Company : |
Ř Bombardier
Transportation Germany GmbH Ř Bombardier
Transportation (Holdings) Singapore Pte Limited |
|
|
|
|
Fellow
Subsidiaries : |
Ř Bombardier
Transportation Switzerland Limited Ř Bombardier
Transportation Denmark A/S Ř Bombardier
Transport France S.A.S. Ř Bombardier
Transportation UK Limited Ř Bombardier
Transportation Inc. USA Ř Bombardier
Transportation Sweden AB Ř Bombardier
Transportation Australia Pty. Limited Ř Bombardier
Transportation Canada Inc Ř Bombardier
Transport Polska Sp. Ř Bombardier Transportation
Railway Equipment (Qingdao) Company Limited Ř Bombardier
(Singapore) Pte. Limited Ř Bombardier
Transportation Sig (Th) Limited Ř Bombardier Mass
Transit Corporation Ř Bombardier
Transportation Financial Services Ř Bombardier
Transportation China Limited Ř Bombardier
Transportation (Malaysia) Ř Bombardier
Transportation Finland OY Ř Bombardier
Transportation (Propulsion and Control) Germany GmbH Ř Bombardier
Transportation Belgium Ř Changchun
Bombardier Railway Vehicles Company Limited Ř Bombardier
Transportation (Shared Service) Philippines. Inc Ř Bombardier
Transportation USA Inc. Pittsburg |
CAPITAL STRUCTURE
AS ON 05.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
360,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99,183,954 |
Equity Shares |
Rs. 10/- each |
Rs. 991.840
Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
81,808,154 |
Equity Shares |
Rs. 10/- each |
Rs. 818.082
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 |
818.080 |
349.550 |
349.550 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
224.340 |
1466.270 |
2198.314 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1042.420 |
1815.820 |
2547.864 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
891.740 |
899.557 |
|
|
TOTAL BORROWING |
0.000 |
891.740 |
899.557 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1042.420 |
2707.560 |
3447.421 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1894.910 |
2099.780 |
2212.606 |
|
|
Capital work-in-progress |
156.360 |
153.120 |
186.173 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
128.400 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2004.900
|
7944.830 |
8762.295
|
|
|
Sundry Debtors |
699.150
|
881.260 |
1328.602
|
|
|
Cash & Bank Balances |
470.230
|
1468.320 |
2789.948
|
|
|
Other Current Assets |
179.870
|
614.910 |
25.731
|
|
|
Loans & Advances |
2107.290
|
1950.830 |
1370.215
|
|
Total
Current Assets |
5461.440
|
12860.150 |
14276.791 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1936.190
|
7591.660 |
6693.659
|
|
|
Other Current Liabilities |
3577.300
|
4286.800 |
6156.399
|
|
|
Provisions |
956.800
|
527.030 |
506.491
|
|
Total
Current Liabilities |
6470.290
|
12405.490 |
13356.549 |
|
|
Net Current Assets |
(1008.850)
|
454.660 |
920.242
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1042.420 |
2707.560 |
3447.421 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
7551.700 |
16207.350 |
15013.891 |
|
|
|
Other Income |
115.300 |
43.270 |
847.631 |
|
|
|
TOTAL (A) |
7667.000 |
16250.620 |
15861.522 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6611.410 |
12639.990 |
|
|
|
|
Purchases of stock-in-trade |
425.410 |
513.600 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(0.180) |
101.230 |
|
|
|
|
Employee benefit
expense |
755.620 |
699.820 |
|
|
|
|
Other expenses |
2629.140 |
2539.030 |
|
|
|
|
TOTAL (B) |
10421.400 |
16493.670 |
15506.407 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(2754.400) |
(243.050) |
355.115 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
184.620 |
75.310 |
33.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2939.020) |
(318.360) |
321.233 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
270.740 |
285.990 |
227.523 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(3209.760) |
(604.350) |
93.710 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
127.690 |
31.988 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(3209.760) |
(732.040) |
61.722 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software development |
112.030 |
86.530 |
|
|
|
|
Export of Goods on F.O.B. basis |
8.350 |
0.840 |
|
|
|
|
Reimbursement of expenses |
92.760 |
147.910 |
|
|
|
TOTAL EARNINGS |
213.140 |
235.280 |
273.536 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
3289.360 |
6763.250 |
|
|
|
|
Enterprise Resource Planning Software Package/Software |
0.000 |
7.390 |
|
|
|
|
Capital goods |
10.410 |
40.630 |
|
|
|
TOTAL IMPORTS |
3299.770 |
6811.270 |
N.A. |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(86.42) |
(20.94) |
1.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(41.86)
|
(4.50)
|
0.39
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(42.50)
|
(3.73)
|
0.62
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(43.63)
|
(4.04)
|
0.57
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.08)
|
(0.33)
|
0.04
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.49 |
0.35
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
1.04 |
1.07
|
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) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
Note:
The Registered office of the company has been
shifted from, B-301-307, Somdutt Chambers, 15 – Bhikaji Cama Place, New Delhi – 110066,
India, to the present address w.e.f. 30.11.2012.
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Term loan from Others |
0.000 |
891.740 |
|
Total |
0.000 |
891.740 |
|
Note: (A) Unsecured
borrowings 1,018.90 Amount disclosed under the head "other current
liabilities" (refer note 7) (1,018.90) 0 *External Commercial Borrowing
(ECB) from the holding company of the holding company carries the interest at
the rate of 3 months US LIBOR+3.00% payable quarterly. The loan is repayable
in one bullet payment upon the expiry of the three years from the draw down
date i.e. 16th June 2009. |
||
CORPORATE
INFORMATION
Bombardier
Transportation India Limited is in the business of manufacturing and supply of
Rail Transportation systems. In the propulsion business, the Company
manufactures traction/auxiliary converters, vacuum circuit breakers, control
electronics and tap changers and trades in transformers. In the signaling
business, the Company is engaged in the supply and installation of signaling
equipment and In the Metro Trains business, the Company manufactures and is
engaged in the supply of coaches, bogies for metro trains.
PERFORMANCE REVIEW
Operations Revenue
(Net) in MINR Note = Revenue includes other income The Gross Block (Assets) of
the company has increased to Rs 3375 million as on 31st March 2012 as compared
to Rs 3315 million as on 31st March 2011 based on various investments in
capital assets during the year for Savli, Maneja & other sites.]
NEW OPPORTUNITIES AND FUTURE PROSPECTS
RAILWAYS MARKET
Production of
Locomotives both at CLW (E-loc) and DLW (D-loc) continues to be sustained at
high levels of around 250 units per annum supporting high level of Propulsion
equipment off take. Indian Railways slowly is moving Propulsion equipment from
GTO to IGBT based Technology for electric locomotives. Their Maneja site will
cater to the needs of Indian Railways with proven technology and manufacturing
process. The company has won order from Mumbai Railway Vikas Corporation (MRVC)
in November, 2011 for the production of propulsion and control equipment. It
involves design, manufacturing, delivery and testing of BOMBARDIER MITRAC propulsion
and control equipment. The order relates to a total of 72 commuter trains of 12
cars each. The project funded equally by the World Bank and the Government of
India, is valued at approximately INR 11.2 billion (162 million euro, $214
million US). In the field of Rail Control Solutions, the company has been
contributing to the Traffic Management Systems for Mumbai's Western and Central
Railways. The company shall be participating in Indian Railways future
modernisation plan for the introduction of TPWS base system in their network.
MASS TRANSIT MARKET
The Company
started delivery of BOMBARDIER MOVIA metro cars from its Savli site from June
2009 and has executed the RS2/RS5 project of Delhi Metro Rail Corporation
(DMRC) by delivering 538 cars. The project was executed as per schedule. The
company has received additional order from DMRC for the supply of 76 cars under
contract RS7. The manufacturing of cars has begun and the delivery of cars to
DMRC will be completed by last quarter of 2012. The company is now focusing on
upcoming metro projects at Hyderabad for the supply of 171 cars plus options of
60 metro cars and Delhi Metro Phase III for the supply of 486 metro cars plus
30% options. These projects are under different stages of bid submission and evaluation.
The company is the first foreign multinational company with the capacity to
manufacture complete railway vehicles in India due to its large industrial
establishment in India. The company has been responsible for train control and
signalling system of two line sections on the Delhi Metro network, covering
38.6 km. Project for further extension on these lines are currently been
negotiated and evaluated with Delhi Metro. The focus is now on CBTC based
signaling system for Hyderabad Metro project and Delhi Metro Phase 111 project
which are currently under different stages of bid submission and evaluation.
AWARDS AND RECOGNITION
Bombardier
Transportation was awarded "Amity Corporate Excellence Award for
Leveraging Technology in Global Business" for having achieved the enviable
position of one of the best and most admired business organizations in the
world by spearheading excellent practices that are creating value for the
stakeholders. Arun Gupta, Head- Accounting and Reporting and Company Secretary,
Bombardier Transportation India Ltd was selected amongst CFO India's second
annual CF0100 Roll of Honour for streamlining the financial control at
Bombardier Transportation in India during 2011 and for his exceptional
contribution to corporate finance.
CONTINGENT
LIABILITIES (NOT PROVIDED FOR) IN RESPECT OF
(Rs.
in millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
(a) Custom duty including interest thereon on raw materials,
Components, equipment, etc under EPCG Scheme* |
407.26 |
343.60 |
|
(b) Pending labour cases** |
67.36 |
-- |
|
(c) In respect
of Assessment Year 2007-08 and 2008-09, certain adjustments were made to the
transaction values by the tax authorities based on arm’s length price of
international transactions entered with associated enterprises. The Company
has filed an appeal with the Income Tax Appellate Tribunal/ Commissioner of
Income Tax (Appeals) against these orders. The tax authorities have recovered
Rs. 119.900 million from the refunds due of subsequent years**. |
119.90 |
28.88 |
|
(d) In respect
of Assessment Year 2005-06, the income tax authorities have raised demand for
penalty. The Company has filed an appeal against the above order with the
Commissioner of Income Tax (Appeals)**. |
1.25 |
-- |
|
(e) Liquidated damages deducted by the customer which are not accepted
by the Company and pending for final settlement. |
-- |
279.80 |
|
(f) Other claims against the Company not acknowledged as debts** |
129.40 |
19.80 |
|
Note: * Based on sales
orders in hand and future sales plan, the management is quite hopeful to meet
the obligation by executing the required volume of sales in future. ** Based on
favourable decisions in similar cases, legal opinion taken by the Company,
discussions with the solicitors, etc., the Company believes that there is a
fair chance of decision in its favour and hence, no provision is considered
necessary against the same. |
||
FIXED ASSETS:
Ř
Ř
Ř Building
Ř Leasehold Improvements
Ř Plant and Machinery
Ř Furniture and Fittings
Ř Vehicles
WEBSITE DETAILS
PRESS RELEASE:
BOMBARDIER ANNOUNCES
STRATEGIC PARTNERSHIP WITH SHANGHAI SHENTONG METRO GROUP
December 7, 2012 —
Berlin
Transportation
· Strategic alliance acknowledges long standing cooperation between Shentong and Bombardier
· Joint venture combines partner’s capabilities to deliver China’s most advanced repair and overhaul centre for metros
Bombardier Transportation and Shanghai Shentong Metro Group Company Limited today announced the formation of a joint venture company, Shentong Bombardier (Shanghai) Rail Transit Vehicle Maintenance Company Limited. The joint venture will focus on the repair and maintenance of urban mass transit vehicles in China, offering customers the services of daily maintenance, intermediate repairs, overhauls, refurbishment and technical consultation.
The new company leverages the respective partners’ competencies in terms of
technologies, equipment and businesses to deliver high quality, reliable trains
that are safe to operate. It will harness Bombardier’s global capability in
providing whole life services for metros in which its state-of-the-art
technologies will reduce down times and extend the life of the Chinese
operator’s fleets.
Jianwei Zhang, President of Bombardier China, said: “This joint venture for
metro cars maintenance marks a new milestone for Bombardier Transportation
business in China. Through its participation in a number of railway projects in
China, by successfully providing rail vehicles, signalling, propulsion,
locomotives, light rail transit and automated people movers, Bombardier has
earned an excellent reputation and has gained a great understanding of the
specific needs of the Chinese rail market.”
Laurent Troger, President Services, Bombardier Transportation, said: “Today’s
announcement underlines our long standing relationship with Shanghai Shentong.
Bombardier looks forward to a mutually beneficial partnership that will provide
world class services to our customers in China. We are committed to making this
collaboration a great success as part of Bombardier’s overall strategy of
working in partnership to develop China’s rapidly expanding rail network.”
The synergy generated from this strategic partnership will deliver a new level of after-market service and support in the region. Both parties are committed to a long-term relationship to enhance train performance while ensuring greater revenues for the customers though lower operating costs.
Bombardier Transportation’s Services division provides the skills and expertise
to deliver efficient, competitive and sustainable rail operations globally. It
helps its customers minimize operational costs and maximize revenue generation
over their assets’ whole lifetime, while ensuring the highest levels of
passenger safety, dependability and comfort.
Reliability, availability, maintainability and safety are the guiding
principles for Bombardier in providing service-friendly systems and trains. It
offers services and support to fit each customer’s exact requirements,
including complete maintenance services, full train maintenance, materials and
logistics programs, refurbishment, re-engineering and overhaul of vehicles and
components.
About Bombardier Transportation in China
As the world’s largest rail equipment manufacturer, Bombardier
Transportation is actively involved in China’s development of urban mass
transit and advanced railway networks. With three joint ventures and seven
Wholly Foreign Owned Enterprises (WFOE), Bombardier currently employs more than
4,000 people in China. It has offices located in Beijing, Shanghai, Guangzhou
and Hong Kong.
Bombardier Transportation offers the broadest portfolio in the rail industry and delivers innovative products and services that set new standards in sustainable mobility. Headquartered in Berlin, Germany, Bombardier Transportation has a very diverse customer base with products or services in more than 60 countries. It has an installed base of over 100,000 vehicles worldwide.
About Bombardier
Bombardier is the world’s only manufacturer of both planes and trains.
Looking far ahead while delivering today, Bombardier is evolving mobility
worldwide by answering the call for more efficient, sustainable and enjoyable
transportation everywhere. Our vehicles, services and, most of all, our
employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the
Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability
World and North America indexes. In the fiscal year ended December 31, 2011, we
posted revenues of $18.3 billion USD.
BOMBARDIER IN RUSSIA
CELEBRATES 200 STATIONS EQUIPPED WITH ITS TECHNOLOGY
November 21, 2012 —
Berlin
Transportation
· BOMBARDIER EBI Lock computer-based interlocking (CBI) system starts operation at Vakhitovo station
Bombardier Transportation’s signalling engineering joint venture in Russia has commissioned its BOMBARDIER EBI Lock 950 computer-based interlocking (CBI) system at its two hundredth railway station. The system was put into operation on November 21, 2012 at the Vakhitovo station on the Gorkovskaya branch of the Russian Railway. The station is part of a new line being constructed linking Kazan city centre and its airport which will be completed ahead of the 27th Summer Universiade (World University Games) to be held in Kazan in July 2013.
The Moscow-based Bombardier Transportation (Signal) Limited has now put into operation
EBI Lock 950 CBI
technology at 121 stations in Russia and 79 abroad, including in the CIS and
Baltic states. The first delivery took place at the Kalashnikovo station on the
October branch of the Russian Railway in June 1999. Ten years later, in 2009,
Bombardier in Russia celebrated the 100th station equipped, at the
Chernikovka station on the Kuibyshevskaya line. The company has now doubled
this achievement, equipping the next 100 stations in only three years. Today,
the interlocking system is in operation on 15 regional branches of the Russian
Railways, from Kaliningrad to the Far East, controlling more than 3,400
point-machines and approximately 500 km of automatic line-blocks.
Konstantin Khromushkin, General Director of BT (Signal) Limited said: “This is
a very important milestone for our joint venture., Two hundred stations on the
highest density sections of the rail network in Russia and the CIS region are
successfully operating under the control of our interlocking solutions,
reflecting our continuous and dynamic growth as a reliable and efficient
manufacturer of innovative solutions for rail transport in the region. We look
forward to further implementation of our innovative and high-tech products in
these markets.”
Established in 1996, the Bombardier Transportation (Signal) Limited engineering
joint venture today has a workforce of more than 180 employees. The company was
the first company certified to deliver the latest generation signalling
equipment adapted to RZD’s technical requirements and today focuses on the
implementation of Bombardier’s proven EBI
Lock 950 CBI interlocking systems. In 2010, Bombardier also purchased a stake
in the RZD manufacturing subsidiary known as Elteza.
EBI Lock CBI systems provide
major enhancements to capacity, flexibility and high availability. Stations can
be controlled locally or from any remote control centre, and components can be
serviced in the field without disturbing traffic. With the most
country-specific adaptations of any CBI system worldwide and over 900 units in
operation globally, EBI Lock
units can be customised to suit the requirements of different rail
administrations and interface with other types of interlocking systems.
Bombardier Transportation’s Rail Control Solutions portfolio covers the whole
range of BOMBARDIER CITYFLO mass
transit solutions, from manual to fully automatic, as well as
communication-based systems. It also provides INTERFLO mainline solutions, from conventional to ERTMS Level 2
systems. Bombardier also provides a complete palette of wayside and onboard
signalling products.
About Bombardier Transportation
Bombardier Transportation, a global leader in rail technology, offers the
broadest portfolio in the rail industry and delivers innovative products and
services that set new standards in sustainable mobility. BOMBARDIER ECO4 technologies – built on the four cornerstones of energy,
efficiency, economy and ecology – conserve energy, protect the environment and
help to improve total train performance. Bombardier Transportation is
headquartered in Berlin, Germany and has a very diverse customer base with
products or services in more than 60 countries. It has an installed base of
over 100,000 vehicles worldwide.
About Bombardier
Bombardier is the world’s only manufacturer of both planes and trains.
Looking far ahead while delivering today, Bombardier is evolving mobility
worldwide by answering the call for more efficient, sustainable and enjoyable
transportation everywhere. Our vehicles, services and, most of all, our employees
are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the
Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability
World and North America indexes. In the fiscal year ended December 31, 2011, we
posted revenues of $18.3 billion USD.
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. 54.29 |
|
|
1 |
Rs. 81.09 |
|
Euro |
1 |
Rs. 70.61 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
39 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.