MIRA
INFORM REPORT
|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
BOSCH AUTOMOTIVE ELECTRONICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No. 703, C/O Bosch Limited, Naganathapura,
Electronic City Post Office, Bangalore – 560100, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
09.04.2008 |
|
|
|
|
Com. Reg. No.: |
08-045987 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.900.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29221KA2008PTC045987 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB07312E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB4330L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of
electronic control units and other electronic items. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “The Bosch Group”. It is an established company having
moderate track. The company officials failed to file the latest financial of 2013,
with the government department. As per available of 2012, management has reported a significant
increase in its sales volume as well as recorded a profit against previous
losses, with the help of which company has wiped off a part of its
accumulated losses. The ratings also take into consideration a heavy deterioration in the
cash reserves along with the working capital intensive operations resulting
in increase in its debt which may act as a threat to the liquidity. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of strong support from its reputed holding company, the
subject can be considered for business dealing with some 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies
between April and January of 2013/14 which has seen some signs of recovery
according to a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
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 DENIED BY
|
Name : |
Mrs. Tanvi |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-80-41035995 |
|
Date : |
08.04.2014 |
LOCATIONS
|
Registered Office / Factory : |
Building No. 703, C/O Bosch Limited, Naganathapura,
Electronic City Post Office, Bangalore – 560100, Karnataka, India |
|
Tel. No.: |
91-80-28521221 / 28521239 / 41035941 / 41035995 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 17.06.2013
|
Name : |
Mr. Steffen Berns |
|
Designation : |
Chairman |
|
Address : |
EL Nivas 308 / 390 2nd Cross, 16th Main, 3rd
Block, Koramangala, Bangalore – 560034, Karnataka,
India |
|
Date of Birth/Age : |
13.02.1963 |
|
Date of Appointment : |
01.01.2013 |
|
DIN No.: |
06449396 |
|
|
|
|
Name : |
Mr. Knut Jens Fabowsky |
|
Designation : |
Director |
|
Address : |
Bietigheimer Strabe Tamm – 71732, Germany |
|
Date of Birth/Age : |
13.08.1968 |
|
Date of Appointment : |
25.06.2012 |
|
Date of Cessation : |
31.01.2014 |
|
DIN No.: |
05252773 |
|
Other Directorship : |
|
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29221KA2008PTC045987 |
Bosch Automotive
Electronics India Private Limited |
Director |
25/06/2012 |
12/04/2012 |
31/01/2014 |
Active |
NO |
|
Name : |
Mr. Heinrich Karl Hildenbrand Markus |
|
Designation : |
Managing Director |
|
Address : |
No. 14 C, 1st C. Main MCHS, Lay Out Sector, - 6, HSR
Layout, Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
10.05.1967 |
|
Qualification: |
Diploma Engineer and Executive MBA |
|
Experience: |
26 Years |
|
Date of Appointment : |
29.09.2009 |
|
Date of Cessation : |
31.07.2013 |
|
DIN No.: |
02261981 |
Other Directorship :
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29221KA2008PTC045987 |
Bosch Automotive
Electronics India Private Limited |
Managing
director |
29/09/2009 |
10/07/2008 |
31/07/2013 |
Active |
NO |
Note :
Other Directors name are not available.
KEY EXECUTIVES
|
Name : |
Ms. Kowsalya GR |
|
Designation : |
Secretary |
|
Address : |
No. 41-42, Doddanakundi, Marthahalli,
Bangalore – 560037, Karnataka, India |
|
Date of Birth/Age : |
05.07.1975 |
|
Date of Appointment : |
05.02.2010 |
|
PAN No.: |
AQUPK3621P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 17.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Robert Bosch Investment Nederland BV, Nederland |
|
166923076 |
|
Dr. Steffen Berns |
|
1 |
|
|
|
|
|
Total |
|
166923077 |
As on: 17.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
|
|
|
|
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 : |
Manufacture of electronic
control units and other electronic items. |
|
|
|
|
Products : |
·
Electronics Control Units ·
Immobiliser ·
Antenna ·
Transponder |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
8th floor, Prestige Palladium Bayan, 129-140, Greams road, Chennai – 600006, Tamil Nadu, India |
|
PAN No.: |
AAHFP0187A |
|
|
|
|
Ultimate Holding
Company: |
Robert Bosch GmbH, Germany (RBGmbH) PAN No.: AADCR1702Q |
|
|
|
|
Holding Company : |
Robert Bosch Investment Netherland BV, Netherlands (BVN) |
|
|
|
|
Fellow Subsidiaries Company : |
· Bosch Limited, India (RBIN) CIN.: L85110KA1951PLC000761 · Robert Bosch Elektronik Gmbh, Germany (RE) · Robert Bosch Engineering And Business Solutions Limited, India (RBEI) CIN.: U72400KA1997PLC023164 · Bosch Rexroth (India) Limited, India (DCIN) CIN.: U29120GJ1974PLC002468 · Robert Bosch Elektronik Kft, Hatvan, Hungary (RBHH) · Robert Bosch Corporation Llc, USA (RBUS) · Robert Bosch Australia Private Limited, Australia (RBAU) · Robert Bosch Company Limited, Hongkong (RBHK) · Robert Bosch Kft, Hungary (RBHU) · Bosch (China) Investment Ltd, China(RBCN) ·
· Bosch Automotive Thailand Company Limited, Thailand (RBTA) · Bosch Corporation, Japan (RBJP) · Bosch Automotive Products (Suzhou) Company Limited, China (RBAC) · Robert Bosch, Spol. S R.O., Czech Republic (RBCB) · Bosch Electrical Drives Company Limited, Korea (RBKB) · Robert Bosch Licensing Administration CV, Netherlands (RBLN) · Robert Bosch Espana Fabrica Madrid, Spain (RBEM) · Robert Bosch Korea Limited, Korea (RBKD) · Bosch Car Multimedia Portugal Lda., Portugal (RBPB) · Bosch Sanayi ve Ticaret A.S., Turkey (RBTR) · Bosch Automotive Diesel Systems Company Limited, (China) (RBCD) |
CAPITAL STRUCTURE
As on: 07.06.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.10/- each |
Rs.2500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
166923077 |
Equity Shares |
Rs.10/- each |
Rs.1669.230
Millions |
|
|
|
|
|
As on 31.12.2012
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.10/- each |
Rs.2500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs.900.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
900.000 |
900.000 |
|
(b) Reserves & Surplus |
|
(122.171) |
(423.150) |
|
(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) |
|
777.829 |
476.850 |
|
|
|
|
|
|
(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 |
|
14.996 |
2.234 |
|
Total Non-current
Liabilities (3) |
|
14.996 |
2.234 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
847.948 |
407.537 |
|
(b)
Trade payables |
|
459.869 |
336.903 |
|
(c)
Other current liabilities |
|
255.767 |
332.278 |
|
(d) Short-term
provisions |
|
121.987 |
0.981 |
|
Total Current
Liabilities (4) |
|
1,685.571 |
1,077.699 |
|
|
|
|
|
|
TOTAL |
|
2,478.396 |
1,556.783 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
753.725 |
441.844 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
146.408 |
191.292 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
101.886 |
0.000 |
|
(d) Long-term Loan and Advances |
|
22.105 |
24.053 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1024.124 |
657.189 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
320.332 |
119.697 |
|
(c)
Trade receivables |
|
769.747 |
375.939 |
|
(d) Cash
and cash equivalents |
|
150.791 |
305.016 |
|
(e)
Short-term loans and advances |
|
213.402 |
96.596 |
|
(f)
Other current assets |
|
0.000 |
2.346 |
|
Total
Current Assets |
|
1454.272 |
899.594 |
|
|
|
|
|
|
TOTAL |
|
2,478.396 |
1,556.783 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
900.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
900.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
900.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
271.501 |
|
|
Capital work-in-progress |
|
|
25.961 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
97.315 |
|
|
Sundry Debtors |
|
|
202.735 |
|
|
Cash & Bank Balances |
|
|
75.711 |
|
|
Other Current Assets |
|
|
0.215 |
|
|
Loans & Advances |
|
|
79.224 |
|
Total
Current Assets |
|
|
455.200 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
189.182 |
|
|
Provisions |
|
|
10.119 |
|
Total
Current Liabilities |
|
|
199.301 |
|
|
Net Current Assets |
|
|
255.899 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
346.639 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
900.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3355.000 |
1491.000 |
1151.000 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
329.000 |
(77.000) |
145.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
28.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
301.000 |
(77.000) |
145.000 |
|
|
|
|
|
|
|
|
|
|
EARNING IN FOREIGN
CUURENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
1829.139 |
431.504 |
254.874 |
|
|
|
Other Income |
3.821 |
1.173 |
0.000 |
|
|
|
TOTAL
|
1832.960 |
432.677 |
254.874 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
2444.464 |
931.450 |
613.151 |
|
|
|
Spare parts & Consumables |
47.608 |
2.167 |
4.306 |
|
|
|
Capital Goods |
546.660 |
430.380 |
43.488 |
|
|
TOTAL IMPORTS |
3038.732 |
1363.997 |
660.945 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.34 |
(0.85) |
1.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
9.81 |
(5.16) |
12.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.75 |
(5.64) |
19.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42 |
(0.16) |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
1.09 |
0.85 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.86 |
0.83 |
2.28 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
900.000 |
900.000 |
|
Reserves & Surplus |
(423.150) |
(122.171) |
|
Net worth |
476.850 |
777.829 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
407.537 |
847.948 |
|
Total borrowings |
407.537 |
847.948 |
|
Debt/Equity ratio |
0.855 |
1.090 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1,151.000 |
1,491.000 |
3,355.000 |
|
|
|
29.540 |
125.017 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1,151.000 |
1,491.000 |
3,355.000 |
|
Profit |
145.000 |
(77.000) |
301.000 |
|
|
12.60% |
(5.16%) |
8.97% |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm / promoter involved in |
---- |
|
23] |
Banking Details |
No |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.12.2012 |
As on 31.12.2011 |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand from bank |
847.948 |
167.537 |
|
Loans and advances from other parties |
0.000 |
240.000 |
|
|
|
|
|
Total |
847.948 |
407.537 |
CORPORATE INFORMATION
The Company is one
of the Bosch Group entity, operates in automotive sector and is engaged in manufacture
of electronic control units and other electronic items. The Company has
manufacturing plant in India and sells primarily to Indian based fellow
subsidiaries and other countries in Asia Pacific.
Note : No Charges Exist for Company.
WEBSITE DETAILS
PRESS RELEASE
BOSCH LIMITED
BREAKS GROUND FOR ITS NEW PLANT IN BIDADI
·
Hon’ble Chief minister
of Karnataka Shri. Siddaramaiah
lays the foundation of the new plant
·
Relocation of existing Bangalore plant from Adugodi to the Bidadi industrial
area will facilitate future business expansion and growth
·
Planned start of production in third quarter 2015
Bangalore: Bosch
Limited, the leading supplier of technology and services today officially broke
ground for its new plant in Bidadi. The chief guest, Hon’ble Chief Minister of Karnataka, Shri.
Siddaramaiah laid the foundation stone along with Dr.
Steffen Berns, Managing Director, Bosch Limited. Also
present on the occasion were the Guests of Honour - Shri D.K. Suresh, Member of Parliament, Bangalore Rural and
Shri H.C. Balakrishna
Member of the Legislative Assembly, Magadi.
Sharing his views on the occasion, Dr. Berns, Managing Director, Bosch Limited said “This move to
relocate our existing manufacturing plant in Bangalore area from Adugodi to Bidadi underlines our
commitment to India and especially to the state of Karnataka. We are extremely
grateful to the Government of Karnataka for their support in facilitating this
move. The developing industrial area in Bidadi will
offer larger space and better infrastructure support for our future expansion.
Though the current business situation is tough, this move will help us cater to
the growing business needs of the Indian market in the long term.”
The company has acquired 97 acres of land in Bidadi for the construction of this new manufacturing
facility and is investing over Rs 2500.000 millions
for the initial development of the facility.
The plant will be ready for commencement of
production by the third quarter of 2015 with re-location of around 850
employees. New Bidadi facility will house the
production of several components of Diesel Fuel Injection Systems.
INFORMATION
ON BIDADI
Bidadi
is a town situated on the Bangalore – Mysore
expressway and is in the Ramanagaram Taluk of Ramanagara district
(formerly part of Bangalore Rural district), in the state of Karnataka of
India. The town is located just 32 km from Bangalore city.
FIXED ASSETS:
·
Plant and Equipments
·
Furniture and Fixture
·
Vehicles
·
Land
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 records 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 records 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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.