MIRA INFORM REPORT
|
Report Date : |
18.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOSTAL NTTF AUTOMOTIVE |
|
|
|
|
Registered
Office : |
Plot No. 11A, SIPCOT Industrial Complex, Ranipet-632403, Tamilnadu |
|
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Country : |
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.09.2008 |
|
|
|
|
Com. Reg. No.: |
18-069239 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 259.190
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300TN2008PTC069239 |
|
|
|
|
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.] |
AADCK4872E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Automotive Electrical System. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of Leopold Kostal GmbH and Company Kg. It is an established company having moderate track record. The rating is constrained on account of continuous losses incurred by
the company. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company 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.
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
|
Name : |
Mr. Sthanu |
|
Designation : |
Accountant |
|
Contact No.: |
91-4172-304666 |
|
Date : |
17.12.2014 |
LOCATIONS
|
Registered Office : |
Plot No. 11A, SIPCOT Industrial Complex, Ranipet-632403, |
|
Tel. No.: |
91-4172-304666/304670 |
|
Fax No.: |
91-4172-304611 |
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E-Mail : |
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|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Head Office : |
Leopold Kostal GmbH and Company Kg., An Der Bellmerei 10, 58513, |
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|
|
|
Overseas Office : |
Located At:
|
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Suresh Bhaskaran |
|
Designation : |
Managing Director |
|
Address : |
Villa No. 25, Noel Palmdale Vilas, Kusumagiri, Kakkanad, Kochi-682037,
|
|
Date of Birth/Age : |
03.01.1965 |
|
Date of Appointment : |
06.06.2011 |
|
Din No.: |
01999715 |
|
|
|
|
Name : |
Andreas Kostal |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
20.02.1979 |
|
Date of Appointment : |
24.09.2013 |
|
Din No.: |
06385676 |
|
|
|
|
Name : |
Ludger Laufenberg |
|
Designation : |
Director |
|
Address : |
Germanenstrasse 93, |
|
Date of Birth/Age : |
26.03.1963 |
|
Date of Appointment : |
11.09.2008 |
|
Din No.: |
02308089 |
|
|
|
|
Name : |
Christopher Nigel Sanders |
|
Designation : |
Director |
|
Address : |
Werdohler Strassse 35, 58511, |
|
Date of Birth/Age : |
24.10.1957 |
|
Date of Appointment : |
18.09.2008 |
|
Din No.: |
02255924 |
|
|
|
|
Name : |
Namasivayam Reguraj |
|
Designation : |
Director |
|
Address : |
539, 2nd Main, RMV 2nd Stage, 3rd
Block, Bangalore-560094, |
|
Date of Birth/Age : |
07.05.1941 |
|
Date of Appointment : |
11.09.2008 |
|
Din No.: |
00279043 |
KEY EXECUTIVES
|
Name : |
Mr. Sthanu |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Leopold Kostal GmbH and Company KG., |
40905 |
|
Leopold Kostal GmbH and Company KG., |
14 |
|
TOTAL
|
40919 |
As on 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive Electrical System. |
|
|
|
|
Products : |
Not Divulged |
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|
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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 : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
GKDITR, |
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|
|
|
Customers : |
Others [Manufacturer]
|
|
|
|
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No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered Accountants
|
|
Address : |
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PAN No: |
AACFD3771D |
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|
|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Leopold Kostal GmbH and Company KG |
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Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10000/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40919 |
Equity Shares |
Rs.10000/- each |
Rs.409.190
Millions |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10000/- each |
Rs.500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25919 |
Equity Shares |
Rs.10000/- each |
Rs. 259.190
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 |
259.190 |
203.930 |
115.000 |
|
(b) Reserves & Surplus |
143.863 |
140.619 |
185.323 |
|
(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) |
403.053 |
344.549 |
300.323 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.768 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
9.230 |
0.501 |
0.073 |
|
(d)
long-term provisions |
0.000 |
1.909 |
0.682 |
|
Total
Non-current Liabilities (3) |
9.998 |
2.410 |
0.755 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
221.749 |
100.436 |
159.426 |
|
(c)
Other current liabilities |
65.230 |
8.534 |
39.540 |
|
(d)
Short-term provisions |
1.409 |
1.189 |
0.469 |
|
Total
Current Liabilities (4) |
288.388 |
110.159 |
199.435 |
|
|
|
|
|
|
TOTAL |
701.439 |
457.118 |
500.513 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
123.571 |
121.442 |
79.445 |
|
(ii)
Intangible Assets |
0.635 |
0.090 |
0.208 |
|
(iii)
Capital work-in-progress |
40.860 |
0.000 |
0.253 |
|
(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 |
23.056 |
8.127 |
24.605 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
188.122 |
129.659 |
104.511 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
92.612 |
111.755 |
183.670 |
|
(b)
Inventories |
155.992 |
69.535 |
66.972 |
|
(c)
Trade receivables |
150.264 |
86.887 |
55.845 |
|
(d)
Cash and cash equivalents |
48.291 |
17.051 |
33.787 |
|
(e)
Short-term loans and advances |
66.158 |
42.231 |
55.728 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
513.317 |
327.459 |
396.002 |
|
|
|
|
|
|
TOTAL |
701.439 |
457.118 |
500.513 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
543.367 |
300.676 |
233.247 |
|
|
|
Other Income |
7.411 |
8.007 |
4.297 |
|
|
|
TOTAL |
550.778 |
308.683 |
237.544 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
353.478 |
217.082 |
199.528 |
|
|
|
Employee Compensation Benefits |
66.721 |
55.419 |
54.030 |
|
|
|
Administrative and Other Expenses |
130.528 |
125.314 |
116.383 |
|
|
|
TOTAL |
550.727 |
397.815 |
369.941 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.051 |
(89.132) |
(132.397) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
46.541 |
35.609 |
19.344 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(46.490) |
(124.741) |
(151.741) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(46.490) |
(124.741) |
(151.741) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(507.968) |
(383.227) |
(231.486) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(554.458) |
(507.968) |
(383.227) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
299.556 |
196.021 |
158.732 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
314.199 |
160.257 |
146.207 |
|
|
|
Plant and Machinery |
22.403 |
23.647 |
29.358 |
|
|
TOTAL IMPORTS |
336.602 |
183.904 |
175.565 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1136.15) |
(9272.00) |
(24764.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(8.56) |
(41.49) |
(65.06) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
0.01 |
(29.64) |
(56.76) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.04) |
(27.29) |
(30.33) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12) |
(0.36) |
(0.51) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78 |
2.97 |
1.99 |
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 |
115.000 |
203.930 |
259.190 |
|
Reserves & Surplus |
185.323 |
140.619 |
143.863 |
|
Net
worth |
300.323 |
344.549 |
403.053 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Sales |
233.247 |
300.676 |
543.367 |
|
|
|
28.909 |
80.715 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
233.247 |
300.676 |
543.367 |
|
Profit |
(151.74) |
(124.741) |
(46.490) |
|
|
(65.06%) |
(41.49%) |
(8.56%) |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2014 [Rs. in millions] |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
0.000 |
0.009 |
27.336 |
|
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 |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
REVIEW OF OPERATIONS AND OUTLOOK:
During the year, the Company made a turnover of Rs. 543.366 Millions and a net loss of Rs. 46.490 Millions. The Company has considerably brought down its loss compared to last year, hopefully the Company will earn profits in the upcoming years.
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. 63.58 |
|
|
1 |
Rs. 99.98 |
|
Euro |
1 |
Rs. 79.39 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.