MIRA
INFORM REPORT
|
Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANDHAR TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
C-101 A, Ansal Plaza, HUDCO Place, Khelgaon Marg, New Delhi, Delhi –
110049 |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.10.1987 |
|
|
|
|
Com. Reg. No.: |
55-029553 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 93.738 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34360DL1987PLC029553 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS0512J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing of Auto components for two wheeler and four wheelers
Industry. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5200000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having a good track record. It has recorded better growth in its turnover and profits during 2012.
The financial position of the company is sound. Trade relations are decent. Business is active. Payment terms are
usually correct and as per commitment. The company can be considered 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 |
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 : |
C-101 A, Ansal Plaza, HUDCO Place, Khelgaon Marg, New Delhi, Delhi –
110049, India |
|
Tel. No.: |
91-124-4959904 |
|
Fax No.: |
Not Available |
|
Mobile No.: |
91-9650052414 (Ms. Vinita Shaw) |
|
E-Mail : |
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|
Website : |
|
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|
|
|
Corporate Office : |
3, HSIIDC Industrial Area, Sector -18, Old Delhi Gurgaon Road, Gurgaon
– 122015, Haryana, India |
|
Tel. No.: |
91-124-4959900/901 |
|
Fax No.: |
91-124-4012845 |
|
E-Mail : |
DIRECTORS
As on: 31.03.2012
|
Name : |
Mr. Dharmendar Nath Davar |
|
Designation : |
Director |
|
Address : |
B-5/82, Safdarjung Enclave, New Delhi, Delhi – 110029, India |
|
Date of Birth/Age : |
08.08.1934 |
|
Date of Appointment : |
02.07.1994 |
|
DIN No.: |
00002008 |
|
|
|
|
Name : |
Mr. Jayant Davar |
|
Designation : |
Managing director |
|
Address : |
B-5/82, Safdarjung Enclave, New Delhi, Delhi – 110029, India |
|
Date of Birth/Age : |
18.10.1961 |
|
Date of Appointment : |
24.10.1987 |
|
DIN No.: |
00100801 |
|
|
|
|
Name : |
Mrs. Monica Davar |
|
Designation : |
Director |
|
Address : |
B-5/82, Safdarjung Enclave, New Delhi, Delhi – 110029, India |
|
Date of Birth/Age : |
07.09.1965 |
|
Date of Appointment : |
24.10.1987 |
|
DIN No.: |
00100875 |
|
|
|
|
Name : |
Mr. Mohan Lal Bhagat |
|
Designation : |
Director |
|
Address : |
24-B, New Road, Ali Pore, Kolkata, West Bengal – 700027, India |
|
Date of Birth/Age : |
23.06.1935 |
|
Date of Appointment : |
02.02.1993 |
|
DIN No.: |
00699750 |
|
|
|
|
Name : |
Mr. Satyapal Wahi |
|
Designation : |
Director |
|
Address : |
Villa No. 8/C, Ardee City Sector 52, Gurgaon Haryana – 122003, India |
|
Date of Birth/Age : |
06.11.1929 |
|
Date of Appointment : |
02.07.1994 |
|
DIN No.: |
00083488 |
|
|
|
|
Name : |
Mr. Ravinder Nagpal |
|
Designation : |
Director |
|
Address : |
B – 8/14 First Floor, Vasant Vihar, New Delhi, Delhi – 110057, India |
|
Date of Birth/Age : |
06.04.1956 |
|
Date of Appointment : |
21.11.2001 |
|
DIN No.: |
00102970 |
|
|
|
|
Name : |
Mr. Chandra Mohan |
|
Designation : |
Director |
|
Address : |
202, Sector 36A, Chandigarh, Union Teritory – 160036, India |
|
Date of Birth/Age : |
30.12.0932 |
|
Date of Appointment : |
02.02.1993 |
|
DIN No.: |
00017621 |
|
|
|
|
Name : |
Mr. Krishan Lal Chugh |
|
Designation : |
Director |
|
Address : |
N-79, Panchsheel Park, New Delhi, Delhi – 110017, India |
|
Date of Birth/Age : |
13.09.1937 |
|
Date of Appointment : |
14.03.2003 |
|
DIN No.: |
00140124 |
|
|
|
|
Name : |
Mr. Arvind Pande |
|
Designation : |
Director |
|
Address : |
E-148, First Floor, East of Kailash, New Delhi, Delhi – 110065, India |
|
Date of Birth/Age : |
07.09.1942 |
|
Date of Appointment : |
14.03.2003 |
|
DIN No.: |
00007067 |
|
|
|
|
Name : |
Mr. Arvind Kapur |
|
Designation : |
Director |
|
Address : |
181-c Western Avenue Sanik, Farms, New Delhi, Delhi – 110062, India |
|
Date of Birth/Age : |
05.07.1950 |
|
Date of Appointment : |
01.10.2005 |
|
DIN No.: |
00096308 |
|
|
|
|
Name : |
Mr. Gaurav Dalmia |
|
Designation : |
Nominee director |
|
Address : |
Dalmia House, 20F Prithvi Raj Road, New Delhi, Delhi – 110011, India |
|
Date of Birth/Age : |
26.09.1965 |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
00009639 |
|
|
|
|
Name : |
Mrs. Subba Rao Telidevara |
|
Designation : |
Nominee director |
|
Address : |
A 403, Adarsh Residency, 47th Cross, 8th Block, Jayanagar, Bangalore –
560082, Karnataka, India |
|
Date of Birth/Age : |
10.06.1963 |
|
DIN No.: |
00211074 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Joshi |
|
Designation : |
Secretary |
|
Address : |
G-39, 2nd Floor, Kirti Nagar, New Delhi, Delhi – 110015,
India |
|
Date of Birth/Age : |
25.09.1966 |
|
Date of Appointment : |
04.12.2006 |
|
PAN No.: |
AEHPJ6988M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jayant Davar |
|
30825907 |
|
Monica Davar |
|
2622725 |
|
Master Neeljay Davar |
|
1555995 |
|
D. N. Davar |
|
839582 |
|
Santosh Davar |
|
785950 |
|
Poonam Juneja |
|
62265 |
|
Sandhar Estates Private Limited |
|
350280 |
|
YSG Estates Private Limited |
|
1662032 |
|
Sanjeevni Impex Private Limited |
|
1667727 |
|
Sandhar Enterprises |
|
90909 |
|
Sandhar Infosystems Limited |
|
793569 |
|
Jubin Finance and Investment Limited
|
|
573508 |
|
Baby Nova Capital PTE Limited |
|
5038401 |
|
|
|
|
|
Total |
|
46868850 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
10.75 |
|
Bodies corporate |
|
10.96 |
|
Directors or relatives of directors |
|
78.29 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Auto components for two wheeler and four wheelers
Industry. |
|
|
|
|
Products : |
·
Locking Systems · Vision Systems · Handles · Latches & Hinges · Sheet Metal Stamping · Zinc Die Casting · Aluminum Die Casting · Plastic Injection Molding · Wheel Rims & Assemblies · Handle Bars · Clutch & Brake Panels · Fender & Muffler Assemblies · Moulds & Dies · Fabrication |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Standard Chartered Bank, Credit Risk Control, Narain Manzil, 23 Barakhamba Road, New Delhi - 110001, Delhi, India · CITI Bank N.A., Jeevan Vihar, 3 Sansad Marg, New Delhi - 110001, Delhi, India · Indusind Bank Limited, Dr. Gopal Das Building, 28, Barakhamba Road, New Delhi - 110001, Delhi, India · The Hongkong and Shanghai Banking Corporation Limited, Birla House, 25, Barakhamba Road, New Delhi – 110001, Delhi, India |
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Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||||||||||||||
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Banking
Relations : |
-- |
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|
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|
Financial Institution : |
ADITYA BIRLA FINANCE LIMITED, Indian Rayon Compound, Veraval – 362266,
Gujarat, India |
|
|
|
|
Auditors : |
|
|
Name : |
S.R.Batliboi and Company Chartered Accountants |
|
Address : |
Tower B, Sector-42, Gurgaon Haryana |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Related Parties : |
· Sanjeevni Impex Private Limited CIN No. U74140DL2000PTC106407 · Sld Auto Ancillary Limited CIN No. U34300DL2003PLC123094 · Sandhar Infosystemslimited CIN No. U74899DL2000PLC106824 · Sandhar Estatesprivate Limited CIN No. U51109DL2000PTC106728 · Ysg Estates Private Limited CIN No. U45201DL2001PTC113333 · Kdb Investments Private Limited CIN No. U67120DL2001PTC110707 · Jubin Finance And Investment Limited CIN No. U65910HR1995PLC032801 |
|
|
|
|
Associates/Subsidiaries : |
· Swaran Enterprises · Sandhar Technologies Barcelona, s.l. · Sandhar Tooling Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115750000 |
Equity Shares |
Rs.2/- each |
Rs.231.500 Million |
|
200000 |
Preference Shares |
Rs.100/-each |
Rs.20.000 Million |
|
|
Total |
|
Rs.251.500
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46868850 |
Equity Shares |
Rs.2/- each |
Rs.93.738
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 |
93.738 |
102.682 |
48.897 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1226.537 |
1405.318 |
1325.106 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1320.275 |
1508.000 |
1374.003 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1212.950 |
754.266 |
891.596 |
|
|
2] Unsecured Loans |
0.000 |
0.026 |
12.820 |
|
|
TOTAL BORROWING |
1212.950 |
754.292 |
904.416 |
|
|
DEFERRED TAX LIABILITIES |
108.222 |
109.440 |
102.639 |
|
|
|
|
|
|
|
|
TOTAL |
2641.447 |
2371.732 |
2381.058 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2326.645 |
1857.568 |
1656.191 |
|
|
Capital work-in-progress |
86.377 |
289.285 |
259.013 |
|
|
|
|
|
|
|
|
INVESTMENT |
282.058 |
255.092 |
195.190 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
494.882
|
386.031 |
314.044 |
|
|
Trade receivable |
799.962
|
733.589 |
671.314 |
|
|
Cash & Bank Balances |
32.321
|
20.480 |
21.223 |
|
|
Other Current Assets |
4.698
|
6.351 |
0.062 |
|
|
Loans & Advances |
218.445
|
240.718 |
142.487 |
|
Total
Current Assets |
1550.308
|
1387.169 |
1149.130 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1089.153
|
811.164 |
787.105 |
|
|
Other Current Liabilities |
446.194
|
448.618 |
36.384 |
|
|
Provisions |
68.594
|
157.600 |
54.977 |
|
Total
Current Liabilities |
1603.941
|
1417.382 |
878.466 |
|
|
Net Current Assets |
(53.633)
|
(30.213) |
270.664 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2641.447 |
2371.732 |
2381.058 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8736.847 |
7207.550 |
5509.916 |
|
|
|
Other Income |
23.662 |
30.037 |
66.908 |
|
|
|
TOTAL (A) |
8760.509 |
7237.587 |
5576.824 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
6111.795 |
4962.894 |
|
|
|
|
Employee benefit expenses |
794.553 |
630.437 |
|
|
|
|
Other Expenses |
1040.355 |
903.800 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(24.760) |
(13.321) |
|
|
|
|
Prior period items before tax |
-- |
2.905 |
|
|
|
|
TOTAL (B) |
7921.943 |
6486.715 |
5008.613 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
838.566 |
750.872 |
568.211 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
196.280 |
141.381 |
103.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
642.286 |
609.491 |
464.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
241.834 |
227.828 |
154.054 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
400.452 |
381.663 |
310.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
116.606 |
127.928 |
108.729 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
283.846 |
253.735 |
201.471 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.67 |
4.94 |
4.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.24 |
3.50 |
3.61 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.58 |
5.30 |
5.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.32 |
11.76 |
11.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.25 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.91 |
0.50 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
0.98 |
1.30 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FINANCIAL RESULTS
The Company registered an all-round growth over previous year: Gross Sales and Income of Rs. 9521.600 millions, EBITDA of Rs. 838.600 millions, Profit before Tax of Rs. 400.500 millions and Net Profit of Rs.284.600 millions recording increase of 20.11%, 11.25%. 4.13% and of 12.17% respectively. These increases have been achieved despite the rise in total manufacturing costs, with higher spend on raw materials and components combined with similar situation countenanced, besides volatility, in energy cost which went up overall by 0.32% of the sales: so also, financial expenses and depreciation witnessed increases of 0.29% and (0.39%) in relation to the net turnover, all impacting margins. The interest cost could, in fact, have been lower but for long term investments for productive purposes made by the Company financed, though partly, by term loans from banks, some of such investments had operationally to catch up or reach stage of either full bloom or real fruition.
Operational challenge remains to be the shrinking margins. Reversal thereof and/or to tide over the same is a direction being pursued with vigour.
FUTURE OUTLOOK AND
PROSPECTS
Despite somber global uncertainties and economic scene of inflationary cost pressures and tough growth conditions, so too of the automobile industry and, in tandem, the auto component sector, the situation in India has so far been one of continuing growth. Two wheeler segment with whom the Company is intimately associated since inception, has witnessed consistently increase in production and sales. The trend, by and large, is expected to continue in the year 2012-13, barring any unforeseen situations / events developing during the year. In industry context, unabated inflationary pressures in the prices of inputs encompassing varieties of steel, zinc, copper, aluminium, fuel oil have been impacting raw material and manufacturing costs, not accompanied often by timely adjustments in the selling prices from OEM?s: overall, affecting margins
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U34360DL1987PLC029553 |
|
Name of the company
|
SANDHAR
TECHNOLOGIES LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
C-101 A, Ansal
Plaza, Hudco Place, Khelgaon Marg, New Delhi, Delhi – 110049, India |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10360168 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
DBS Bank Limited,
Acting As Security Trustee, Upper Ground Floor, Birla Tower 25,Barakhamba Road,
New Delhi, Delhi – 110001, India e-mail
ID - anurag@dbs.com |
|
Nature of
instrument creating charge |
Memorandum Of Entry |
|
Date of
instrument Creating the charge |
09.01.2013 |
|
Amount secured by
the charge |
Rs. 224.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As Per Agreement. Terms of
Repayment As Per Agreement. Margin As Per Agreement. Extent and
Operation of the charge First Pari Passu
Charge |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
(I) Borrower's
Present And Future Book Debts, Outstanding Monies Receivables, Claims, Bills,
Contracts, Engagements, Securities, Investments, Rights And Assets. (Ii) Goods Being
Finished Goods, Semi-Finished Goods, Stocks Of Raw Material, Work In Process
Both Present And Future Located At Various Factories/Godowns/Warehouses Whether In (Iii) Transit Or
Lying At Any Other Place. |
|
Particulars of
the present modification |
Ecb Of Rs. 2.240
Millions (Usd 4 Million) Shall Additionally Be Secured By First Pari Passu
Charge Over Company's Immovable Properties Situated At Gurgaon, Manesar
(Haryana), Hubli, Bangalore And Nalagarh
(Himachal Pradesh) (More Particularly Described In Annexure Attached)
Together With All Buildings And Structures Thereon Or To Be Thereon. |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Vehicles
· Computer software
AS PER WEBSITE DETAILS
PRESS RELEASE
February 22,2013, Gurgaon : Sandhar Tecnologies Limited., a diversified auto component manufacturing company with multiple product lines has signed a technical collaboration with Jinyoung Electro-Mechanics Company Limited of South Korea for manufacturing automotive relays for the Indian market.
Jinyoung Electro-Mechanics Company Limited founded in 1996 specializes in automotive relays, switches, multi-functional switches, latches and buzzer units; having two plants, a dedicated R and D Centre in South Korea and three plants in China. It has technical tie ups with Niles, Panasonic and Miyamoto of Japan for switches, PCB relays and horn relays, respectively.
Sandhar will put up automatic production lines for power relays and relay starters initially at its Gurgaon plant, and then go on to add other products and locations.
“It gives me immense pleasure to announce the tie up with Jinyoung Electro-Mechanics.JEM is a recognized player in relays and switches; this relationship will help us forge ahead into electronics and offernew products to their existing customers. It also gives then access to new technology and customers, leading to faster growth” said Mr. Jayant Davar, Founder, Vice Chairman and Managing Director of Sandhar Group.
Mr. Doo-Yung Kim, Representative Director / President, Jinyoung Electro-Mechanics Company Limited mentioned that "India is the second largest growing economy, a very large automotive market with a number of well-established Korean companies; the relationship with Sandhar gives us an opportunity to have a technological presence in India. Sandhar will provide the required infrastructure and support for bringing in JEM technology and products to India."
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 53.95 |
|
|
1 |
Rs. 83.81 |
|
Euro |
1 |
Rs. 70.50 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
53 |
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.