|
Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
B-92, Himalaya
House, 23, Kasturba Gandhi Marg, Delhi-110001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.04.1995 |
|
|
|
|
Com. Reg. No.: |
55-067296 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4068.235 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC067296 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD08997C |
|
|
|
|
PAN NO.: |
AAACD0226E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures and Traders in Automobile Components and also Develops
Embedded Software Systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of Delphi Automotive Systems (Holding) Inc., It is an established company having a satisfactory track record. There appears accumulated losses recorded by the company. However, rating taken into consideration Trade relation reported to be fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone
5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash credit: BBB |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
March 2013 |
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Richard |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-37282400 |
|
Date : |
09.11.2013 |
LOCATIONS
|
Registered Office : |
B-92, Himalaya House,
23, Kasturba Gandhi Marg, Delhi-110001, New Delhi, India |
|
Tel. No.: |
91-11- 46249600 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Headquarter : |
Delphi
Corporation, World Headquarters, |
|
Tel. No.: |
91- 248-813-2000 |
|
Fax No.: |
91- 248-813-26570 |
|
|
|
|
Corporate
Office/ Works : |
240, Phase – I,
Udyog Vihar, Gurgaon, |
|
Tel. No.: |
91-124-2345054/2345055/2345056/2345557/2345558/2345556 |
|
Fax No.: |
91-124-2345053 |
|
Area : |
Industrial |
|
|
|
|
Factory: |
Plot No. 3, Sector
41, Industrial Development Area, Greater Noida, District Gautam Budh Nagar,
Uttar Pradesh, India |
|
Tel. No.: |
91-120-2341381/95 /
2342629 |
|
Fax No.: |
91-120-2341383 /
2342619 |
|
|
|
|
Factory : |
Plot No. 98-A, KIADB
Industrial Area-II, Jigani Anekal Taluk, Bangalore-562106, |
|
|
|
|
Branch Office: |
A- 22, Sipcot Industrial Growth Center Orgadam, Sriperumbudur Taluk,
Kanchipuram District ,Tamilnadu, India. |
|
Tel. No.: |
91-44-37282400 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Malik Kulbhushan |
|
Designation : |
Director |
|
Address : |
House No. 78, Block No.18, Gita Colony, |
|
Date of Birth/Age : |
28.11.1977 |
|
Date of Appointment : |
30.09.2010 |
|
PAN No.: |
AFNPM2424G |
|
DIN No.: |
02944568 |
|
|
|
|
Name : |
Mr. Reji Varghese |
|
Designation : |
Managing Director |
|
Address : |
Elamathyil House, Vazhappally West, P. O. Changanacherry, Kerala –
686103, India |
|
Date of Birth/Age : |
21.07.1960 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
AADPV3823B |
|
DIN No.: |
03279577 |
|
|
|
|
Name : |
Mr. Nowtej Singh |
|
Designation : |
Director |
|
Address : |
Flat No. 303 Tower – 6, Unitech Fresco, Nirvana Country, South City – Ii
,Gurgaon - 122018 Haryana India |
|
Date of Birth/Age : |
19.12.1970 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
AUSPS9717Q |
|
DIN No.: |
03424987 |
|
|
|
|
Name : |
Mr. Nambi Ganesh Guruvel |
|
Designation : |
Director |
|
Address : |
203, Keerthi Manor, 2nd Phade4, 3rd Main, G.M.
Playa Bangalore – 560075 Karnataka |
|
Date of Birth/Age : |
26.10.1964 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03503357 |
|
|
|
|
Name : |
Ranji Abraham |
|
Designation : |
Additional director |
|
Address : |
Flat No. 801, JMD Gardens Sohna Road, Sector – 33, Village Islampur,
Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
16.07.1963 |
|
Date of Appointment : |
29.09.2012 |
|
PAN No.: |
ACAPA7520P |
|
DIN No.: |
05177241 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeeb Kumar Subudhi |
|
Designation : |
Secretary |
|
Address : |
148, DDA Flats, Sector – 17 A, Dwarka, |
|
Date of Birth/Age : |
22.06.1974 |
|
Date of Appointment : |
01.02.2010 |
|
PAN No. : |
AZLPS2428J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of
Shareholders (Equity Shares) |
|
No. of Shares |
|
Delphi International |
|
28499997 |
|
Delphi Global Holdings |
|
3 |
|
Total |
|
28500000 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Delphi International |
|
12182349 |
|
Total |
|
12182349 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporters of Automotive Systems and Components like Catalytic Converter, Drive
Shafts and Wiring Harness. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Wiring sets |
Nos |
3600000 |
1701636 |
|
Canister |
Nos |
750000 |
431633 |
|
Heat ventilating and air conditioning parts |
Nos |
800000 |
439975 |
|
Throttle body |
Nos |
310000 |
-- |
|
Fuel module |
Nos |
150000 |
144380 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Axis Bank Limited, Shop No. 1-6 And 8-10, Ground Floor,
Suncity, Ninex Time Center, Sector – 54, Golf Course Road, Gurgaon – 122002
Haryana India ·
Yes Bank Limited, 9th Floor, Nehru
Center, Discovery Of India, dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra , India |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institution: |
Bank of America National Trust And Savings Association, Hansalaya, 15,
Barakhamba Road, New Delhi – 110001 Delhi India |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
Golf View, Corporate Tower – B, Sector 42, Gurgaon - 122002 Haryana,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS3291N |
|
|
|
|
Ultimate Holding Company: |
·
Delphi Automotive LLP, United Kingdom (w.e.f
October 6,2009) ·
Delphi Automotive Systems (Holding) Inc, USA
(till October 5, 2009) |
|
|
|
|
Enterprise having substantial interest
in the Company: |
·
Delphi International S.A.R.L. (Luxembourg) (w.e.f
October 6, 2009) ·
Delphi International Holdings Corporation, USA
(till October 5, 2009) ·
Delphi Automotive Systems Australia Limited,
Australia * ·
Delphi Packard Austria GmbH, Austria * ·
Delphi Automotive Systems do Brasil Ltda, Brazil ·
Delphi Diesel Systems France S.A.S, France * ·
Delphi France SAS, France ·
Delphi Automotive Systems DIX SAS, France ·
Delphi Deutschland Gmbh (Germany) ·
Delphi Delco
Electronics Europe GMBH,
Germany * ·
Prostep AG Germeny ·
Unterstützungsgesellschaft der Delphi Deutschland
Gmbh (Germany) ·
PT.Delphi Automotive Systems, Indonesia * ·
Delphi Italia Automotive Systems SRL, Italy,
Italy * ·
Delphi Automotive Systems Japan Limited, Japan ·
Delphi Korea LLC (Korea) ·
Korea Delphi Automotive Systems Corporation,
Korea ·
Delphi Automotive Systems Luxembourg SA ·
Packard Electric (Malaysia) Sdn.Bhd, Malyasia ·
Delphi Automotive Systems S.A. de C.V., Mexico * ·
Delphi Automotive Systems Poland Sp.z.o.o, Poland
* ·
Delphi Poland S.A, Poland ·
Delphi Automotive Systems Portugal S.A, Portugal ·
Delphi Diesel Systems Romania SRL, Romania * ·
Delphi Packard Romania SRL. ,Romania ·
Delphi Automotive Systems Singapore Pte Limited,
Singapore ·
Delphi Automotive Systems Espana, S.L., Spain |
|
|
|
|
Fellow subsidiaries with whom transactions have taken place during the Year: |
·
Delphi Automotive Systems(Thailand) Limited,
Thiland ·
Delphi
OtomotivSistemleriSanayiVeTicaretAnonimSirketi, Turkey * ·
Delphi Automotive Systems Limited Sirketi ,
Turkey ·
Delphi Diesel Systems Limited, U.K ·
Delphi Lockheed Automotive Limited, U.K ·
Delphi Automotive Systems LLC , USA ·
Delphi Technologies Inc ,USA ·
Beijing Delphi Technology Development Company Limited, China ·
Beijing Delphi Wan Yuan Engineering Management
System Company, China ·
Delphi (China) Technical Center Company Limited,
China ·
Delphi Shanghai Dyanmics and propulison Systems
Company Limited, China ·
Delphi Automotive Systems (China) Holding Company
Limited , China ·
Delphi Electrical Centers (Shanghai) Co. Limited,
China ·
Delphi Packard Electric Systems Company Limited,China ·
Delphi Lockheed Automotive SA, France * ·
Delphi Trading (Sanghai) Company Limited, China ·
Delphi Electronics Suzhou Co Limited, China ·
Shanghai Delphi Automotive Air-conditioning
Systems Limited, China ·
Delphi Hungary Kft.,Hungary ·
Delphi Packard Electric ceska Rebublica S.R.O, CzecRebublic ·
Delphi Automotive Systems Maroc, Morroco ·
Delphi Slovensko S.r.o ,Solvakrebublic ·
Mecel AB ,Sweden |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28500000 |
Equity Shares |
Rs.100/- each |
Rs. 2850.000 Millions |
|
|
|
|
|
|
16500000 |
8% Non Cumulative Optionally Convertible
Redeemable Preference Shares |
Rs.100/- each |
Rs.1650.000 Millions |
|
|
Total |
|
Rs. 4500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28500000 |
Equity Shares |
Rs.100/- each |
Rs. 2850.000 Millions |
|
|
|
|
|
|
12182349 |
Preference Shares |
Rs.100/-
each |
Rs. 1218.235
Millions |
|
|
Total |
|
Rs. 4068.235 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4068.235 |
4068.235 |
|
(b) Reserves & Surplus |
|
(1763.831) |
(1573.557) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
2304.404 |
2494.678 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.550 |
11.012 |
|
Total Non-current Liabilities (3) |
|
5.550 |
11.012 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
1367.266 |
1074.653 |
|
(c) Other current
liabilities |
|
272.757 |
123.417 |
|
(d) Short-term provisions |
|
63.497 |
29.906 |
|
Total Current Liabilities (4) |
|
1703.520 |
1227.976 |
|
|
|
|
|
|
TOTAL |
|
4013.474 |
3733.666 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1083.501 |
648.671 |
|
(ii) Intangible Assets |
|
11.242 |
0.000 |
|
(iii) Capital
work-in-progress |
|
115.212 |
185.105 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
193.182 |
207.551 |
|
(e) Other Non-current assets |
|
1.176 |
2.669 |
|
Total Non-Current Assets |
|
1404.313 |
1043.996 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
817.762 |
635.926 |
|
(c) Trade receivables |
|
1031.267 |
710.483 |
|
(d) Cash and cash
equivalents |
|
469.843 |
1107.880 |
|
(e) Short-term loans and
advances |
|
267.097 |
223.013 |
|
(f) Other current assets |
|
23.192 |
12.368 |
|
Total Current Assets |
|
2609.161 |
2689.670 |
|
|
|
|
|
|
TOTAL |
|
4013.474 |
3733.666 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4068.235 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1784.879) |
|
|
NETWORTH |
|
|
2283.356 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2283.356 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
678.034 |
|
|
Capital work-in-progress |
|
|
55.845 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
453.645
|
|
|
Sundry Debtors |
|
|
610.924
|
|
|
Cash & Bank Balances |
|
|
1079.955
|
|
|
Other Current Assets |
|
|
92.515
|
|
|
Loans & Advances |
|
|
351.395
|
|
Total
Current Assets |
|
|
2588.434
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
929.194
|
|
|
Other Current Liabilities |
|
|
76.112
|
|
|
Provisions |
|
|
33.651
|
|
Total
Current Liabilities |
|
|
1038.957
|
|
|
Net Current Assets |
|
|
1549.477
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2283.356 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
|
5137.220 |
4304.980 |
|
|
|
Increase in inventories of
finished goods, work-in-progress and traded goods |
|
71.400 |
121.9100 |
|
|
|
Other Income |
|
155.200 |
183.070 |
|
|
|
TOTAL |
|
5363.820 |
4609.960 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
5179.06 |
4304.30 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
|
11.680 |
11.370 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
120.590 |
93.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
52.480 |
201.220 |
|
|
|
|
|
|
|
|
|
|
TAX |
|
242.750 |
(10.100) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
(190.270) |
211.320 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
1522.960 |
1205.380 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
NA |
1252.013 |
|
|
|
Stores & Spares |
|
NA |
4.250 |
|
|
|
Capital Goods |
|
NA |
86.591 |
|
|
TOTAL IMPORTS |
|
NA |
1342.854 |
|
|
|
|
|
|
|
|
|
|
Earnings (Loss)
Per Share (Rs.) |
|
0.47 |
7.41 |
|
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
5855.621 |
|
|
|
Other Income |
|
|
390.818 |
|
|
|
TOTAL (A) |
|
|
6246.439 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
|
2969.964 |
|
|
|
Purchase of Trading Goods |
|
|
305.394 |
|
|
|
Personal Expenses |
|
|
1046.244 |
|
|
|
Operating and Other Expenses |
|
|
1141.703 |
|
|
|
Increased / Decreased in Stock |
|
|
42.760 |
|
|
|
Loss on sale of discontinued business |
|
|
155.517 |
|
|
|
TOTAL (B) |
|
|
5661.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
584.857 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
13.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
571.846 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
183.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
|
387.903 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I) (J) |
|
|
387.903 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
(2172.780) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(1784.877) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export of Goods |
|
|
537.390 |
|
|
|
Software Development Services |
|
|
950.904 |
|
|
|
Income from engineering and business support service |
|
|
0.000 |
|
|
|
Reimbursement of Expenses |
|
|
26.370 |
|
|
TOTAL EARNINGS |
|
|
1514.664 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
1332.043 |
|
|
|
Stores & Spares |
|
|
6.643 |
|
|
|
Capital Goods |
|
|
92.919 |
|
|
TOTAL IMPORTS |
|
|
1431.605 |
|
|
|
|
|
|
|
|
|
|
Earnings (Loss)
Per Share (Rs.) |
|
|
13.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.60)
|
4.71 |
6.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.02
|
4.67 |
6.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.35
|
5.67 |
111.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.08 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.08 |
2.49 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
Yes |
|
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 |
Yes |
LITIGATION DETAILS
|
IN THE HIGH COURT
OF DELHI AT NEW DELHI ITA 664/2010 Appellant versus Through: Ms. Mahua Kalra, Advocate. HON'BLE THE CHIEF
JUSTICE HON'BLE MR. JUSTICE
MANMOHAN CM No. 7493/2010 (exemption) Allowed, subject to all just exceptions Accordingly, the application stands disposed of. CM Nos. 7492 and 7494/2010 These are the applications for condonation of delay in filing and refiling of the appeal.
ITA 664/2010 page 1 of 3. ITA 664/2010 The present appeal preferred under Section 260A of the Income Tax Act, 1961 (in short Act) is admitted on the following substantial questions of law:- 4. Whether the ITAT was correct in law in holding that M/s. Delphi Automotive Systems Private Limited. is competent to file appeal on behalf of Mr. Jean Marc Herande (JMH)? 5. Whether the ITAT was correct in law in holding that the assessment order is null and void for lack of service of notice under Section 143(2) and 144 of the Income Tax Act, 1961? Issue notice. ITA 664/2010 page 2 of 3. Ms. Mahua Kalra, learned counsel has entered appearance on behalf of respondent.
Filing of paper book stands dispensed with. CHIEF JUSTICE MANMOHAN, J AUGUST 13, 2010 js |
BUSINESS
OPERATIONS:
During 2011-12, the performance of the Company was moderately well.
Except for one or two divisions, all the divisions grew marginally. However,
the projection for the next few years is positive, and the Company expects good
growth in coming years.
The automotive sector also grew marginally during the year as compared
to high growth rates of earlier years. Though Delphi India grew at a rate
higher than the market, however, it was not up to the target. However, the
Company has continued with its investment plans and hopefully those investments
will result in much better growth in 2012-13 and future years.
The Company continued with expanding its operations to add more
capacities and footprints. The Packard Division of the Company is coming up
with its new Plant at Chakan, Pune. The plant is expected to go operational by
first quarter of next Financial Year. This plant will cater to the needs of
some high end customers of the Company located in Pune and nearby areas. The
Company is hopeful that these investments in expansion plans will result in
better profitable revenue in future.
The Company has won some good businesses during the period under review.
The Company has won new businesses from Tata Motors, Mahindra, Volkswagen,
Maruti Suzuki, General Motors India and others. The Company also expects to win
new businesses in the coming years also.
OUTLOOK AND FUTURE
PROSPECTS:
The growth story of the automobile industry during 2011-12, though was
not very impressive, but was relatively good. The industry could not make
significant growth during the financial year as compared to the last year;
however, the industry is still bullish on the Indian market and poised to do
better in the future.
The automobile industry could do a moderate business during 2011-12 as
compared to the previous year when the growth rate was significantly higher due
to major contribution from exports and fresh investment from abroad. The prime
factors that hampered the industry growth were lingering post-crisis
difficulties in high-income countries, political turmoil in the Middle-East and
North Africa and slow industrial production and trade from Japan due to
earthquake and tsunami. Rising inflation, interest rates and depreciating
currency were also big dampeners.
Notwithstanding the above, in the current fiscal in 2012-13 the picture
seems brighter. The Indian auto component sector is likely to clock a growth of
8-10 per cent this fiscal amid tough market environment. In 2012-13 the
domestic auto component industry is expected to witness a growth of 8-10 per
cent, while exports are likely to increase by 15-20 per cent.
In 2011-12, the automobile component industry had revenue of $ 43.5
billion, while exports stood at $ 7 billion. Though, few automobile component
manufacturers had to scale down their planned investments in the short term due
to a slowdown in the automobile market, however, they are bullish on the
industry's future.
It is estimated that the automobile and auto component industry will
account for more than 10 per cent of the country's GDP by 2016. The output of
the automobile and auto component industry would reach $145 billion by 2016,
accounting for more than 10 per cent of the country's GDP and generating
employment for more than a million people. As per ACMA, the turnover of
components industry is estimated to touch $ 66.3 billion in 2015-16. India's
exports from the sector expected to reach $ 12.3 billion in 2015-16.
Though the Indian economy is currently experiencing a slowdown, however,
under penetrated markets and the unfulfilled mobility aspirations of the people
of India are the driving forces that give us the confidence of a steady growth
trajectory.
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10387146 |
31/10/2012 |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B62256748 |
|
2 |
10000112 |
28/11/2011 * |
40,000,000.00 |
AXIS BANK LIMITED |
SHOP NO. 1- 6
AND 8 -10, GROUND FLOOR, SUN CITY, NI |
B26889964 |
Note: * Date of charge modification
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Leasehold improvements
Intangible assets
·
Computer software
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.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.