MIRA INFORM REPORT
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
AUTOLIV INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.80/3, Chokkahalli Village, Doddalluru Gram Panchayat, Bangalore
Rural, Hoskote Industrial Estate, Bangalore – 562 114, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.10.2000 |
|
|
|
|
Com. Reg. No.: |
08-056723 (New) 55-108041 (Old) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.113
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300KA2000PTC056723 (New) U34300DL2000PTC108041 (Old) |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA6222E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of integrated safety systems for major automotive
manufacturers. |
|
|
|
|
No. of Employees
: |
Information decline by the management |
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 4700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profit of the company has declined during financial year 2014. However, general financial position of the company seems to be sound
and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. 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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DENIED
Management Non-Cooperative
Contact No. 91-80-30601300
LOCATIONS
|
Registered Office Corporate Office 1/ Factory 1 : |
Survey No.80/3, Chokkahalli Village, Doddalluru Gram Panchayat,
Bangalore Rural, Hoskote Industrial Estate, Bangalore – 562 114, Karnataka,
India |
|
Tel. No.: |
91-80-27971250/ 51/ 53/ 54/ 55/ 57/ 30601300 |
|
Fax No.: |
91-80-30601430 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office 2/ Head Office/ Factory 2 : |
16, Visveswaraiah Industrial Estate, 1st Main Road, Off
Whitefield Road, Mahadevapura, Bangalore – 560 048, Karnataka, India |
|
Tel. No.: |
91-80-30586300/ 6267 |
|
Fax No.: |
91-80-30586302 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Plot 203, Sector 4, IMT, Manasar Gurgaon – 122 050, Haryana, India. |
|
Tel. No.: |
91-124-4768700 |
|
Fax No.: |
91-124-4768724 |
|
|
|
|
Factory 4 : |
Shed No.76/78 SIDCO Industrial Estate, Thirumazhisai Poonamalle Taluk,
Thiruvallur, Chennai – 602 107, Tamilnadu, India |
|
Tel. No.: |
91-44-26811847 |
|
Fax No.: |
91-44-26844846 |
|
|
|
|
Factory 5 : |
Plot No.44, |
|
Tel. No.: |
91-421-3021419/ 21 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Suresh Nandagopal |
|
Designation : |
Nominee Director |
|
Address : |
# 145, Prestige Ozone, Whitefield, Hagadur Village, Bangalore – 560
006, Karnataka, India |
|
Date of Birth/Age : |
14.01.1970 |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
03245760 |
|
|
|
|
Name : |
Mr. Chang Ket Leong |
|
Designation : |
Director |
|
Address : |
No.26, Building in Rancho Santafe on 333 Long Jinhui Road, Shanghai
201107 |
|
Date of Birth/Age : |
14.02.1964 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
05344642 |
|
|
|
|
Name : |
Mr. Devanand Achuthan |
|
Designation : |
Director |
|
Address : |
No.L5, Chaithanya Samarpan, Kannamangala Village, Bangalore – 560 067,
Karnataka, India |
|
Date of Birth/Age : |
19.05.1974 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06446956 |
|
|
|
|
Name : |
Mr. Hans Niclas Claesson Nelson |
|
Designation : |
Director |
|
Address : |
Sveavagen 20 A, 182 60 Djursholm, Stockholm 18260 |
|
Date of Birth/Age : |
31.03.1964 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06510932 |
|
|
|
|
Name : |
Mr. Per Holst Nielsen |
|
Designation : |
Director |
|
Address : |
No.163, Lane 258, Gaojing Rd., Xujing Town, Shanghai 201702 |
|
Date of Birth/Age : |
06.11.1964 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06546590 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Autoliv |
5011283 |
|
Autoliv East Europe AB, |
1 |
|
Autoliv Asia ROH Company Limited, |
1 |
|
Total |
5011285 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
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 of integrated safety systems for major automotive
manufacturers. |
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|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information decline by the management |
|
|
|
|
Bankers : |
Mizuho Bank Limited |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
UB City, Canberra Block, 12th and 13th Floor, No.24, Vittal Mallya
Road, Bangalore – 560 001, Karnataka, India |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Holding Company: |
Autoliv AB, Sweden |
|
|
|
|
Fellow Subsidiaries: |
·
Autoliv ASP, Inc. ·
Autoliv Australia Pty Limited ·
N.C.S. Pyrotechnie et Technologies SAS ·
Nanjing Hongguang Autoliv Vehicle Safety Systems
CompanyLimited ·
Autoliv (China) Inflators ·
P.T. Autoliv Indonesia ·
Autoliv ATC ·
Autoliv Japan Limited ·
Autoliv Do Brasil Limited ·
Autoliv Romania -Iro Inflators division ·
Autoliv B.V. & CompanyKG, Germany ·
Autoliv (China) Steering Wheel Company, Limited ·
Autoliv (Shanghai) Vehicle Safety Systems Co
Limited ·
Taicang VOA Shenda Special Type Textile Products
Co., Limited ·
Autoliv (China) Electronics Company, Limited ·
VOA Canada, Inc. ·
Autoliv North America ·
Autoliv Development AB ·
Van Oerle Alberton BV ·
Livbag, SAS ·
Autoliv Asia ROH CompanyLimited, Thailand ·
Autoliv Corporation, Korea ·
Autoliv (Shanghai) Vehicle Safety Systems
Technical Center Company, Limited ·
Autoliv Electronics Asia Pacific |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5011285 |
Equity Shares |
Rs.10/- each |
Rs.50.113
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.113 |
50.113 |
50.113 |
|
(b) Reserves & Surplus |
1129.675 |
1121.065 |
931.743 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1179.788 |
1171.178 |
981.856 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
271.351 |
248.646 |
144.047 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
39.010 |
20.879 |
0.000 |
|
(d) long-term provisions |
28.389 |
25.264 |
3.207 |
|
Total Non-current Liabilities (3) |
338.750 |
294.789 |
147.254 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
180.000 |
60.000 |
60.000 |
|
(b) Trade payables |
1189.837 |
1063.244 |
971.143 |
|
(c) Other current
liabilities |
74.164 |
91.884 |
127.227 |
|
(d) Short-term provisions |
14.859 |
7.417 |
25.835 |
|
Total Current Liabilities (4) |
1458.860 |
1222.545 |
1184.205 |
|
|
|
|
|
|
TOTAL |
2977.398 |
2688.512 |
2313.315 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
769.776 |
669.121 |
326.495 |
|
(ii) Intangible Assets |
20.921 |
18.472 |
22.745 |
|
(iii) Capital
work-in-progress |
85.380 |
130.435 |
259.585 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
23.134 |
3.886 |
23.052 |
|
(d) Long-term Loan and Advances |
547.844 |
425.658 |
302.324 |
|
(e) Other Non-current assets |
0.051 |
0.051 |
0.469 |
|
Total Non-Current Assets |
1447.106 |
1247.623 |
934.670 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
418.854 |
513.334 |
456.157 |
|
(c) Trade receivables |
797.475 |
635.351 |
603.569 |
|
(d) Cash and cash
equivalents |
49.744 |
36.778 |
64.827 |
|
(e) Short-term loans and
advances |
264.193 |
255.402 |
254.092 |
|
(f) Other current assets |
0.026 |
0.024 |
0.000 |
|
Total Current Assets |
1530.292 |
1440.889 |
1378.645 |
|
|
|
|
|
|
TOTAL |
2977.398 |
2688.512 |
2313.315 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4864.835 |
4875.205 |
|
|
|
|
Other Operating Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4864.835 |
4875.205 |
4694.108 |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
4875.473 |
4624.008 |
4304.394 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(10.638) |
251.197 |
389.714 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(19.248) |
61.875 |
95.980 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.610 |
189.322 |
293.734 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1006.755 |
817.433 |
523.699 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1015.365 |
1006.755 |
817.433 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
F.O.B. value of Exports |
326.327 |
198.389 |
58.220 |
|
|
|
Engineering Income |
|
|
59.915 |
|
|
TOTAL EARNINGS |
326.327 |
198.389 |
118.135 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
|
|
148.566 |
|
|
|
Raw Materials |
|
|
1394.097 |
|
|
|
Capital Goods |
|
|
143.788 |
|
|
TOTAL IMPORTS |
NA |
NA |
1686.451 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
86.09 |
37.78 |
58.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.18 |
3.88 |
6.26
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.37) |
9.81 |
19.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.21 |
0.40
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/ Networth) |
|
0.38 |
0.26 |
0.21
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.14 |
1.44
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
50.113 |
50.113 |
50.113 |
|
Reserves & Surplus |
931.743 |
1121.065 |
1129.675 |
|
Net
worth |
981.856 |
1171.178 |
1179.788 |
|
|
|
|
|
|
long-term borrowings |
144.047 |
248.646 |
271.351 |
|
Short term borrowings |
60.000 |
60.000 |
180.000 |
|
Total
borrowings |
204.047 |
308.646 |
451.351 |
|
Debt/Equity
ratio |
0.208 |
0.264 |
0.383 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Sales |
4694.108 |
4875.205 |
4864.835 |
|
|
|
3.858 |
(0.213) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Sales |
4694.108 |
4875.205 |
4864.835 |
|
Profit |
293.734 |
189.322 |
8.610 |
|
|
6.26% |
3.88% |
0.18% |
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 |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note : The registered office of the company has been again shifted from 16, Visveswaraiah Industrial Estate, 1st Main Road, Off Whitefield Road, Mahadevapura, Bangalore – 560 048, Karnataka, India to the present address w.e.f. 14.07.2011(
(Rs. In Millions)
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Foreign Currency term loan from others |
264.958 |
248.646 |
|
Other loans and advances |
6.393 |
0.000 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
180.000 |
60.000 |
|
Total
|
451.351 |
308.646 |
|
Long-term
borrowings |
(Rs. In Millions) |
|||||
|
Non-current |
Current |
|||||
|
March 31, 2013 |
March 31, 2013 |
March 31, 2013 |
March 31, 2013 |
|||
|
Term loans Unsecured Foreign currency loan from Autoliv AB* |
264.958 |
248.646 |
-- |
-- |
||
|
Other loans and advances, Unsecured Finance lease obligations** |
6.393 |
--- |
2.999 |
--- |
||
|
Less: Amount disclosed under the head 'Other current liabilities' |
--- |
--- |
(2.999) |
--- |
||
|
Total |
271.351 |
248.646 |
--- |
--- |
||
|
* Foreign currency loan from Autoliv AB carries interest as per Autoliv Prime Rate as at rate of 0.75% - 1.10%. The loan is repayable in full by September 30, 2015. The Company does not have any continuing defaults in repayment of loans and interest as at the reporting date. **Finance lease obligations relate to vehicles purchased under financing arrangement. The loans are repayable over a period of 3 to 4 years, along with interest at the rate of 11.5%. |
||||||
|
|
||||||
|
SHORT-TERM BORROWINGS,
UNSECURED |
March 31, 2013 |
March 31, 2013 |
||||
|
Working capital demand loan from Mizuho Bank |
180.000 |
60.000 |
||||
|
Total |
180.000 |
60.000 |
||||
|
Autoliv AB, the holding company has given corporate guarantee for working capital facility from Mizuho Bank. The facility is repayable on demand and carries interest @ 8.15% to 10.9% p.a. |
||||||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90250498 |
26/02/2002 |
2,635,000.00 |
FORD INDIA |
CHENNAI, CHENNAI, TAMIL NADU, INDIA |
- |
|
2 |
90250018 |
11/04/1997 * |
38,000,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE BRANCH, BANGALORE, KARNATAKA, I |
- |
* Date of charge modification
OPERATIONS:
During the financial year the Company’s total income was Rs. 486.5 crores as against Rs. 487.5 crores achieved in the previous year. The Profit after tax was Rs. 8.600 crores for the year against the profit of Rs. 189.000 crores for the previous year. The drop in profit mainly on account of product development cost incurred for Hyundai and MSIL projects, we expect the revenue from 2013-14 onwards and exchange loss on account rupee depreciation. The Company won the first order from Honda, with this we would have business relationship with all major OEMs
Further, Macro Economic indicators are not very encouraging lately; and market is going through turbulent time as OEMS (car manufacturers) have reduced volume and delayed new launches. Despite the challenging times, your directors continue to focus on strengthening the operations by optimizing utilization of assets and trimming costs to emerge stronger from this turbulence.
FIXED ASSETS:
Tangible Assets
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Testing Equipments
·
Tools
·
Electrical Fittings
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
·
Computers 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. 60.49 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs. 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
ASH |
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 |
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 |
|
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.