MIRA INFORM REPORT
|
Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUJA SHOEI INDUSTRIES PRIVATE LIMITED (w.e.f 26.10.2007) |
|
|
|
|
Formerly Known
As : |
SUJA RUBBER INDUSTRIES PRIVATE LIMITED |
|
|
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Registered
Office : |
45, Pattamangala Street, Mayiladuthurai – 609001, Tamilnadu |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
29.07.1985 |
|
|
|
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Com. Reg. No.: |
18-012078 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.49.871 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25191TN1985PTC012078 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacture, Exporter and Importer of Precision Rubber Components mainly for the Automobile Industry and in a small way for Food Industry. |
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|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 725000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is good. Tarde relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow 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 Electrotherm 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 BlueRidge 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 wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
Mach 18, 2014 |
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
|
Name : |
Mr. Narayan |
|
Designation : |
Management Consultant |
|
Contact No.: |
91-9841094094 |
|
Date : |
02.12.2014 |
LOCATIONS
|
Registered Office : |
45, |
|
Tel. No.: |
91-4364-253428 |
|
Mobile No.: |
91-9841094094 (Mr. Narayan) |
|
Fax No.: |
91-4364-253488 |
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E-Mail : |
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Website : |
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Corporate Office : |
19/3, |
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|
|
Mangainallur Plant : |
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Tel. No.: |
91-4364-253328 / 253428 |
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Fax No.: |
91-4364-253488 |
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E-Mail : |
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Tel. No.: |
91-413-2677993 |
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Fax No.: |
91-413-2677028 |
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E-Mail : |
|
|
|
|
|
|
158, AZA- Tabehara, Tajima Minamiaizu – Machi, Minamiaizu – Gun,
Fukushima, Prefecture – 967 0004, Japan |
|
Tel. No.: |
+81-241-62-0566 |
|
E-Mail : |
|
|
|
|
|
Suja- Shoei Plant : |
# 225, Agraharam 52 Villiyanallur, Kuttalam – 609801, Mayiladuthurai
–TK, |
|
Tel. No.: |
91-4364-295920/235305 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Sudhakaran |
|
Designation : |
Director |
|
Address : |
M 101, The Atrium 22, Kalakshetra Road, Thriuvanmiyur, Chennai –
600041, Tamilnadu, India |
|
Date of Birth/Age : |
29.07.1959 |
|
Date of Appointment : |
01.03.2000 |
|
DIN No.: |
01672350 |
|
|
|
|
Name : |
Mr. Sitaraman Srinivasan |
|
Designation : |
Director |
|
Address : |
28/A, Nallamangudi Agraharam, Nannilam, Thiruvarur – 610105, Tamilnadu,
India |
|
Date of Birth/Age : |
29.11.1945 |
|
Date of Appointment : |
01.10.2002 |
|
DIN No.: |
02052649 |
|
|
|
|
Name : |
Vaidyanathan Panchapagesan |
|
Designation : |
Director |
|
Address : |
7AB, Kences Enclave, Block III, No.1, Ramakrishna Street, T Nagar,
Chennai – 600017, Tamilnadu, India |
|
Date of Birth/Age : |
29.101947 |
|
Date of Appointment : |
09.10.2008 |
|
DIN No.: |
00029503 |
|
|
|
|
Name : |
Janakiraman Ganesan |
|
Designation : |
Director |
|
Address : |
28/A, Nallamangudi Agraharam, Nannilam, Thiruvarur – 610105,
Tamilnadu, India |
|
Date of Birth/Age : |
29.11.1945 |
|
Date of Appointment : |
02.02.2001 |
|
DIN No.: |
00891982 |
|
|
|
|
Name : |
Katsuyoshi Hyodo |
|
Designation : |
Director |
|
Address : |
3-43-12, Hirohakama Michidashi, Tokyo – 1950056, Japan |
|
Date of Birth/Age : |
07.11.1954 |
|
Date of Appointment : |
31.10.2010 |
|
DIN No.: |
01889944 |
KEY EXECUTIVES
|
Name : |
Mr. Venkatesa |
|
|
Designation : |
Assistant General Manager Finance |
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|
|
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|
Name : |
Mr. Narayan |
|
|
Designation : |
Management Consultant |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
S. Sudhakaran |
931600 |
|
S Srinivasan |
923960 |
|
R Jayalakshmi |
7200 |
|
Vaidegi Swaminathan |
16800 |
|
Deepa Natrajan |
176800 |
|
S. Srividhiya |
839880 |
|
G. Mythili |
92000 |
|
J. Ganesan |
76000 |
|
S Srinivasan |
873280 |
|
S. Kamakhsi |
91600 |
|
M. S. Sudhakaran HUF |
290000 |
|
G. Sridevi |
16000 |
|
G. Sriram HUF |
16000 |
|
K. Natarajan |
10000 |
|
K. Rajalakshmi |
13200 |
|
S. Kuppusamiyer |
8000 |
|
Shoei Corporation |
304800 |
|
Integrated Enterprises (India) Limited, India |
100000 |
|
Integrted Registry Services Limited, India |
200000 |
|
|
|
|
Total |
4987120 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
6.11 |
|
Bodies corporate |
6.02 |
|
Directors or relatives of Directors |
87.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture, Exporter and Importer of Precision Rubber Components mainly for the Automobile Industry and in a small way for Food Industry. |
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|
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|
Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Good |
|
Countries : |
v Japan v Italy v Poland |
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Imports : |
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|
Products : |
Raw Material |
|
Countries : |
v Japan v US |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
¨ Canara Bank,
Mayiladuthurai, Coimbatore, Tamilnadu, India ¨ State Bank of
India, SME Branch, No. 27, Kamaraj Slai – 605011, Pondicherry, India |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
SBi Factors and Commercial Services
Private Limited, “Chamber Towers”, Avanashi Road, Coimbatore – 641 018,
Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
S. Venkatraman and Company Chartered Accountants |
|
Address : |
30, Dabir Middle Street, Kumbakonam – 612001, Tamilnadu, India |
|
Tel. No. : |
91-435-2430093 |
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PAN
No. : |
AABFS8836S |
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|
|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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|
|
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Associates /
Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4987120 |
Equity Shares |
Rs.10/- each |
Rs.49.871 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 |
49.871 |
49.871 |
46.871 |
|
(b) Reserves & Surplus |
131.528 |
114.612 |
71.419 |
|
(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) |
181.399 |
164.483 |
118.290 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
125.201 |
99.392 |
96.981 |
|
(b) Deferred tax liabilities (Net) |
16.295 |
12.069 |
10.260 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
141.496 |
111.461 |
107.241 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
194.622 |
145.655 |
147.482 |
|
(b) Trade
payables |
50.353 |
95.659 |
89.621 |
|
(c) Other
current liabilities |
16.747 |
31.431 |
9.019 |
|
(d) Short-term
provisions |
10.500 |
11.897 |
12.326 |
|
Total Current
Liabilities (4) |
272.222 |
284.642 |
258.448 |
|
|
|
|
|
|
TOTAL |
595.117 |
560.586 |
483.979 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
280.208 |
227.787 |
215.485 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.116 |
0.116 |
0.116 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
280.324 |
227.903 |
215.601 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
78.552 |
83.594 |
85.356 |
|
(c) Trade
receivables |
193.887 |
167.893 |
157.810 |
|
(d) Cash
and cash equivalents |
21.332 |
45.701 |
5.869 |
|
(e)
Short-term loans and advances |
21.022 |
35.495 |
19.343 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
314.793 |
332.683 |
268.378 |
|
|
|
|
|
|
TOTAL |
595.117 |
560.586 |
483.979 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
705.872 |
659.363 |
573.686 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
101.660 |
87.865 |
89.361 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.292 |
25.929 |
24.752 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
68.368 |
61.936 |
64.609 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
42.724 |
38.036 |
36.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
25.644 |
23.900 |
28.367 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.729 |
7.707 |
9.480 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
16.915 |
16.193 |
18.887 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
145.113 |
141.961 |
9.613 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.39 |
3.25 |
3.79 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
700.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs.808.500 Millions
The above information has been parted by Mr. Narayan
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.63 |
3.62 |
4.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.31 |
4.26 |
5.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.15 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.76 |
1.49 |
2.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.17 |
1.04 |
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 |
46.871 |
49.871 |
49.871 |
|
Reserves & Surplus |
71.419 |
114.612 |
131.528 |
|
Net
worth |
118.290 |
164.483 |
181.399 |
|
|
|
|
|
|
long-term borrowings |
96.981 |
99.392 |
125.201 |
|
Short term borrowings |
147.482 |
145.655 |
194.622 |
|
Total
borrowings |
244.463 |
245.047 |
319.823 |
|
Debt/Equity
ratio |
2.067 |
1.490 |
1.763 |
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) |
|
Sales |
573.686 |
659.363 |
705.872 |
|
|
|
14.934 |
7.054 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
573.686 |
659.363 |
705.872 |
|
Profit |
18.887 |
16.193 |
16.915 |
|
|
3.29% |
2.46% |
2.40% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
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 |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From other parties |
30.746 |
30.746 |
|
|
|
|
|
Total |
30.746 |
30.746 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90290170 |
03/12/2012 * |
370,900,000.00 |
State Bank of India |
SME Branch,, No.27, Kamaraj Salai, Pondicherry, Pondicherry - 605011,
INDIA |
B66529132 |
|
2 |
90292588 |
22/06/2004 * |
22,600,000.00 |
STATE BANK OF INDIA |
MAYILDAUTHURIAI, MAYILDAUTHURIA, Tamil Nadu, INDIA |
- |
* Date of charge modification
HISTORY
Subject (formerly called Suja Rubber Industries Private Limited) was incorporated as a Private Limited Company in 1985, with Registered Office at Mayiladuthurai, Tamilnadu. It was earlier operating as a Partnership Firm in the name of "Suja Rubber Products" since 1975. Subject manufactures precision rubber components mainly for the Automobile Industry and in a small way for food industry. It has four manufacturing units, three in Tamil Nadu, one in Pondicherry, with state of art equipment’s, supported by an experienced team of professionals. Its end customers include almost all Auto majors, both domestic and multinational
PERFORMANCE
The company has increased the Sales to Rs 705.872 millions from Rs 659.363 millions during the previous year. The Net Profit after Tax for the Current Year is Rs 16.915 millions as against Rs 16.193 millions during the Previous Year. As already stated, this could be achieved despite the steep increase in Raw Materials Cost as well as adverse exchange rate movements only by continuous improvement in productivity and cost reduction in all possible areas.
The company has successfully developed 88 Parts and prestigious companies like Brakes India, Lumax DK, Rane, Mando Brake, Mikuni Corporation, Sundaram Fastener Limited, Denso, and Wabco have been added to the companies customer list during the year.
The company continues its thrust on Research and Development as well as on high quality, zero rejection, efficiency and cost reduction. The Research & Development focusses on new Products as well as improvement in processes on existing Product Lines to improve efficiency and Productivity.
INDUSTRY FUTURE
PROSPECTS:
The Automobile Sector continues to witness lot of turbulence during the year due to multi various factors like inflation, Forex Rate volatility, uncertainty in Government Policies like Diesel pricing etc. In spite of the above, many companies posted improved results over the previous year, though the growth rate was less. This is a good sign of the depth and maturity of the Automobile Market and Sector. More and more International Auto Majors are now sourcing their components from Low cost countries like India due to its commitment to quality and cost advantages.
This, apart from the natural growth in the Indian Automobile Industry though less as compared with the previous years, has created a tremendous opportunity for the Indian Automobile Component manufacturers. The local demand witnessed flat growth or even negative growth in some segments, due to various macro-economic factors. In spite of all this, new Auto International Majors are setting up bases in India by looking at a longer horizon when they see a big market in India. The recent addition in the capacities would result in increased business opportunities for their ancillaries and also for Suja Shoei.
Apart from that, India is becoming a small car hub for most of the major automobile manufacturers.
The Company continues to be a preferred vendor by all Auto Majors for the following obvious reasons:
- Japanese Quality
- Competitive Price
- Quick Delivery time
FUTURE PLANS:
As part of the organic expansion, the company has already commissioned a state of art plant near Thindivanam on the National Highway - NH 45, which has since stabilised its operations during the current financial year. Further expansion plans are also in the pipe line which will be implemented in a staggered manner.
EXPORTS:
Company's exports for the year ended 31St March 2013 were at USD 1.53 Millions as against USD 1.73 Millions for the year ended 31st March, 2012. Consistent quality and wider range of products contributed to the continued growth in exports. The company has been identified by reputed business groups abroad for sourcing their component requirements on a long term basis. The Company aims to widen the existing overseas markets and hopes to become a major hub for various international companies for their components sourcing. The impact of all this on export turnover will be seen in the years to come.
FIXED ASSETS
œ
Land
œ
Building
œ
Plant and Machinery
œ
Mouds
œ
Office Equipment
œ
Computers
œ
Furniture and Fixture
œ
Electrical Fitting and
installations
œ
Vehicles
œ
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.61.92 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.