MIRA
INFORM REPORT
|
Report Date : |
01.12..2014 |
IDENTIFICATION DETAILS
|
Name : |
FORD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S.P. Koil Post,
Chengalpattu, Kanchipuram,
Chennai – 603204, Tamilnadu |
|
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|
Country : |
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|
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.08.2000 |
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|
|
|
Com. Reg. No.: |
18-045537 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.57000.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34103TN2000PTC045537 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM02210F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4454H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Selling of Passenger Vehicles. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 95000000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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Litigation : |
Exist |
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Comments : |
Subject is a
subsidiary of Ford Motors USA, an auto giant. It is an established company
having a moderate track record. Indian operations of the company is not doing
well. Profitability of the company is under pressure. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can
be considered for business dealings 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 – 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
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go
slowly on talks over coal supply contracts, uncertainty over cancellation of
blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of Investigation
books Electro herm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in Blue Ridge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had willfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
On Mobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
Not Available
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 BY
Management Non Co-operative (91-44-67403200)
LOCATIONS
|
Registered
Office/ Factory/ Corporate Office : |
S. P. Koil Post, Chengalpattu, Kanchipuram, Chennai
– 603204, Tamilnadu, India |
|
Tel. No.: |
91-4114-27454375 91-44-67403333 |
|
Fax No.: |
91-4114-4254278 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
350 Acres |
|
|
|
|
Corporate
Office - North: |
3rd Floor, Building 10C, DLF
Cyber City, DLF Phase – II, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-3873001 |
|
Fax No.: |
91-124-3873999 |
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|
|
|
New Plant (Under Construction) : |
Revenue Survey 1, Village Northkaputa,
Taluka Sanand, Ahmedabad, Gujarat, India |
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|
Regional
Office : |
West
301, Tel. : 91-22-67024300 Fax: 91-22-67024305 South
Block – 1B, 1st Floor, Tel. : 91-44-24551500 Fax : 91-44-24559965 East
6th Floor, Unit # D2, Aakash
Tower, 781, Anandpur, Kolkata - 70010, West Bengal, India Tel. : 91-33-40073930-34 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Kuljit Singh Rana |
|
Designation : |
Whole Time Director |
|
Address : |
Mayflower Apartment, No.9, |
|
Date of Birth/Age : |
13.05.1965 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
02680026 |
|
|
|
|
Name : |
Mr. Tom Scaria Chackalackal |
|
Designation : |
Director |
|
Address : |
3067, GST Road, Vallanchery – 603202, Tamilnadu, India |
|
Date of Birth/Age : |
13.07.1970 |
|
Date of Appointment : |
02.07.2012 |
|
PAN No.: |
AEPPC8437C |
|
DIN No.: |
05303324 |
|
|
|
|
Name : |
Mr Joginder Pal
Singh |
|
Designation : |
Managing Director
|
|
Address : |
No. 6A, Waters
Edge, 5th Drive Sea Clif Conclave, Akkarai, Chennai – 600119,
Tamilnadu, India |
|
Date of Birth/Age : |
06.01.1954 |
|
Date of Appointment : |
01.12.2012 |
|
PAN No.: |
ALBPJ7287Q |
|
DIN No.: |
02395452 |
|
|
|
|
Name : |
Mr. David Linden Schoch |
|
Designation : |
Director |
|
Address : |
36th Floor, SIT No 211, Century Avenue, Shangai, China |
|
Date of Birth/Age : |
27.04.1951 |
|
Date of Appointment : |
27.03.2013 |
|
DIN No.: |
06537288 |
KEY EXECUTIVES
|
Name : |
Avneesh Chopra |
|
Designation : |
Secretary |
|
Address : |
C-4/4, Plot No.53, Mangla Apartments, Patparganj, IP Extension, Delhi
– 110092, India |
|
Date of Birth/Age : |
20.08.195 |
|
Date of Appointment : |
01.05.2013 |
|
PAN No.: |
ABXPC7602C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
LIST OF ALLOTTES:
As on: 29.01.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ford Motor Company, USA |
|
15645948 |
|
Ford International Services LLC, USA |
|
2954052 |
|
|
|
|
|
Total |
|
18600000 |
As on: 20.12.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ford Motor Company, USA |
|
13879470 |
|
Ford International Services LLC, USA |
|
2620530 |
|
|
|
|
|
Total |
|
16500000 |
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Ford Motor Company, USA |
418654904 |
84.16 |
|
Ford International Services LLC, USA |
79045096 |
15.84 |
|
|
|
|
|
Total |
497700000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
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 : |
Manufacturing and Selling of Passenger Vehicles. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Divulged |
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Bankers : |
· ICICI Bank Limited, Land Mark Race Course Circle, Vadodara, Gujarat, India ·
The Hongkong and Shanghai Banking Coporation
Limited No 30 Rajaji Salai, Chennai - 600001, Tamilnadu, India |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
32, |
|
Tel. No.: |
AABFL5878L |
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|
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|
Fellow Subsidiary
company |
· Auto Alliance Company Thailand, Thailand · Changan Ford, China · Chongqing Ante Trading Company Limited, Taiwan · Dubai Parts Distribution Limited, United Arab Emirates · FCE Bank plc, UK · Ford Argentina S.C.A, Argentina · Ford Australia, Australia · Ford Business Services Center Private Limited, India · Ford Espana, Spain · Ford Global Technologies L/C, US · Ford Group Philippines LLC, Philippines · Ford International Services, LLC, US · Ford Japan Limited, Japan · Ford Motor (China) Limited, China · Ford Motor Company (Thailand) Limited, Thailand · Ford Motor Company Brazil Limited, Brazil · Ford Motor Company of Canada, Canada · Ford Motor Company, Philippines · Ford Motor Company of New Zealand Limited, New Zealand · Ford Motor Company, USA · Ford Operations (Thailand) Company Limited, Thailand · Ford Sollers Russia, Russia · Ford South Africa, South Africa · Ford Taiwan (Lio Ho), Taiwan, Province of china · Ford Trading Company, US · Ford Vietnam Limited, Viet Nam · Ford of Britain, UK · Ford of Germany, Germany · Ford of Maxico, Maxico · Getrag Ford Trans – Cologne, Germany · Getrag Ford Transmissions GMBH, Germany · Mazda Motor Corporation, Japan · Troy Design and Manufacturing, US · Valencia Parts Ops, US · Tom Scaria Chackalackal · PT Ford Motor Indonesia, Indonesia |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000000 |
Equity Shares |
Rs.100/- each |
Rs.70000.000 Millions |
|
250000000 |
Preference Shares |
Rs.100/-
each |
Rs.25000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.95000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
570000000 |
Equity Shares |
Rs.100/- each |
Rs.57000.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders’ Funds |
|
|
|
|
(a) Share Capital |
57000.000 |
47670.000 |
28890.000 |
|
(b) Reserves & Surplus |
(23595.000) |
(17626.700) |
(13428.176) |
|
(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) |
33405.000 |
30043.300 |
15461.824 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
42012.500 |
20562.600 |
14290.982 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
582.600 |
535.800 |
724.621 |
|
(d) long-term provisions |
160.800 |
29.300 |
257.661 |
|
Total
Non-current Liabilities (3) |
42755.900 |
21127.7000 |
15273.264 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3611.800 |
4134.600 |
3908.682 |
|
(b) Trade payables |
16027.300 |
12439.800 |
12925.187 |
|
(c) Other current liabilities |
13957.900 |
4936.400 |
1085.951 |
|
(d) Short-term provisions |
1489.500 |
2086.300 |
1203.261 |
|
Total
Current Liabilities (4) |
35086.500 |
23597.100 |
19123.081 |
|
|
|
|
|
|
TOTAL |
111247.400 |
74768.100 |
49858.169 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
32238.700 |
24407.700 |
23603.200 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
36266.500 |
15562.700 |
2802.037 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6087.200 |
6547.500 |
3735.653 |
|
(e) Other Non-current assets |
17.000 |
239.800 |
24.605 |
|
Total
Non-Current Assets |
74609.400 |
46757.700 |
30165.495 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
15035.800 |
10616.600 |
8780.959 |
|
(c) Trade receivables |
6252.000 |
2699.900 |
2373.026 |
|
(d) Cash and cash equivalents |
3512.2000 |
8107.800 |
6043.434 |
|
(e) Short-term loans and
advances |
7087.700 |
4521.800 |
2257.965 |
|
(f) Other current assets |
4750.300 |
2064.300 |
237.290 |
|
Total
Current Assets |
36638.000 |
28010.400 |
19692.674 |
|
|
|
|
|
|
TOTAL |
111247.400 |
74768.100 |
49858.169 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
|
89240.000 |
59060.000 |
66850.000 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Manufacturing, administrative and
selling Expenses |
89670.000 |
59160.000 |
64810.000 |
|
|
TOTAL
|
89670.000 |
59160.000 |
64810.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(430.000) |
(100.000) |
2040.000 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
1290.000 |
1210.000 |
600.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1720.000) |
(1310.000) |
1440.000 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATIN |
4250.000 |
2890.000 |
2840.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(5970.000) |
(4200.000) |
(1400.000) |
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(5970.000) |
(4200.000) |
(1400.000) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(17630.000) |
(13440.000) |
(12040.000) |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
(23600.000) |
(17630.000) |
(13440.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.01) |
(0.14) |
(0.09) |
KEY RATIOS
|
Particular |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.96) |
(7.09) |
(2.98) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18) |
(0.14) |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.37 |
0.82 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.19 |
1.03 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
28890.000 |
47670.000 |
57000.000 |
|
Reserves & Surplus |
(13428.176) |
(17626.700) |
(3595.000) |
|
Net worth |
15461.824 |
30043.300 |
33405.000 |
|
|
|
|
|
|
long-term borrowings |
14290.982 |
20562.600 |
42012.500 |
|
Short term borrowings |
3908.682 |
4134.600 |
3611.800 |
|
Total borrowings |
18199.664 |
24697.200 |
45624.300 |
|
Debt/Equity ratio |
1.177 |
0.822 |
1.366 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
66850.000 |
59060.000 |
89240.000 |
|
|
|
(11.653) |
51.101 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
66850.000 |
59060.000 |
89240.000 |
|
Profit |
(1400.000) |
(4200.000) |
(5970.000) |
|
|
(2.09%) |
(7.11%) |
(6.69%) |
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 |
Yes |
|
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] |
Yes |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
|
Status Of: |
TAX CASE APPEAL |
|
Case No.: |
12 |
|
Year : |
2014 |
|
Petitioner : |
THE COMMISSIONER OF INCOME TAX |
|
Respondent : |
M/S FORD INDIA PVT LTD |
|
Pet's Advocate : |
M/S.T.RAVIKUMAR |
|
Res's Advocate : |
CHENNAI |
|
Category : |
NO CATEGORY MENTIONED |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Jun 5 2014 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2014 |
As on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
31296.300 |
12357.100 |
|
Term Loan From Banks |
2333.000 |
0.000 |
|
Differed Payment Liabilities |
8383.200 |
8205.500 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
3611.600 |
2539.100 |
|
Total |
45624.100 |
23101.700 |
NEW BUSINESS
ACTIVITY:
Ford India launched the 2014 editions of the Ford Fiesta, Ford Figo and Ford Endeavour.
Furthermore, in its commitment to elevating the brand and ownership experience for consumers, Ford India strengthened its sales and service outreach in India by expanding its network to 304 sales and service outlets/facilities across 164 cities. Besides network expansion, Ford also launched the? Happy Pocket Service? Offering extremely competitive and highly transparent fixed pricing on scheduled service costs, starting at Rs. 0.002 Millions.
The construction of Ford India second integrated manufacturing plant in Sanand, Gujarat is progressing well, with construction nearing completion. The manufacturing plant will be operational towards the end of 2014, and vehicles and engines will roll off the assembly lines sometime in 2015.
This new facility involved the investment of approximately USD $ 1 billion, for two plants, one for vehicle manufacturing with an initial capacity of 240,000 vehicles, and the other for engines with an initial capacity of 270,000 engines.
PRODUCTION:
During the financial year ended March 31, 2014, Ford India has produced 134,195 passenger cars consisting of Ford Figo, Ford Fiesta, Ford Classic and Ford Endeavour, for both domestic and export markets. Ford India achieved a major milestone in August 2014 Ford Eco Sport sales milestone of 100,000 units in August 2014 for domestic wholesales and exports combined.
SALES:
The total sales in the financial year 2013-14 were 132,582 vehicles as against 106,657 for the previous year.
EXPORTS:
Ford India continues to export Figo, Classic and Eco Sport and also petrol and diesel powertrains from its facility in Chennai. The vehicle exports for financial year ended March 31, 2014 year increased by more than 82% over the from financial year ended March, 31 2013. The value of exports during the financial year was Rs. 33870.000 Millions, which helped Ford India meet its ongoing export obligations under the Export Promotion Capital Goods (EPCG) Scheme.
BUSINESS PLAN:
Ford India plans to launch global vehicles in India to meet the customers’ needs and desires. The current models will be refreshed at the regular intervals to suit evolving trends and consumer needs.
During the financial year, Ford India received Rs 9330.000 Millions in equity contribution from its shareholders to fund the expansion activities. Ford India will continue to receive the support from its shareholders to meet its future funding requirements in the form of equity and inter-corporate loans. Ford India already has received Rs 18940.000 Millions in form of Inter-corporate loans since April 2013.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10512108 |
04/07/2014 |
1,500,000,000.00 |
KOTAK MAHINDA BANK LIMITED |
27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
C14518906 |
|
2 |
90288420 |
21/07/2008 * |
500,000,000.00 |
INDIAN OVERSES BANK |
NANDANAR STREET, NH 2, MARAIMALAI NAGAR, TAMILNADU - 603204, INDIA |
A43011469 |
|
3 |
90285769 |
24/09/2012 * |
1,500,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, 3RD FLOOR, SIGAPI AACHI BUILDING, RUKMANI
LAKSHMIPATI ROAD, CHENNAI, TAMIL NADU - 60000 |
B60359122 |
FIXED ASSETS
Tangible Assets
· Buildings
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
·
Computer Equipments
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 judgment 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.61.97 |
|
|
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
34 |
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.