MIRA
INFORM REPORT
|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RENAULT INDIA PRIVATE LIMITED |
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|
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Registered Office : |
Plot No. 1, Sipcot Industrial Estate, Mattur (Post), Sriperumbudur,
Kancheepuram – 602105, Tamilnadu |
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Country : |
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|
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
14.11.2005 |
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Com. Reg. No.: |
11-078835 |
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Capital
Investment / Paid-up Capital : |
Rs.2017.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U34100TN2005FTC78835 |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR19529G |
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|
PAN No.: [Permanent
Account No.] |
AADCR2042M |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Automobile and their components. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 fully owned subsidiary of “Renault S.A.S, France”. It is
an established company having a moderate track record. The networth of the company has been eroded, whereas the management
has reported a profit as a result which the company is gradually wiping off
its huge accumulated losses during 2013. However, the company is improving its performance marked by increase in
sales revenue as well as gradually establishing itself in the Indian markets.
Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of strong and established parent company, the subject can be
considered for business dealings with slight 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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.
LOCATIONS
|
Registered Office : |
Plot No. 1, Sipcot Industrial Estate, Mattur (Post), Sriperumbudur,
Kancheepuram – 602105, Tamilnadu, India |
|
Tel No. : |
91-44-39104220 |
|
Mobile No.: |
91-9820602288 (Mr. Venkat) |
|
Fax No. : |
Not Available |
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E-Mail : |
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Website : |
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Sales Office : |
501/502, 5th Floor, Town Centre II, Near Mittal Estate,
Sakinaka, Andheri (East), Mumbai – 400059, |
|
Tel No. : |
91-22-33073521 / 33073500 |
|
Fax No. : |
91-22-33073545 / 3538 |
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Factory : |
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Area : |
4000Sq.fts |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Marc Nassif |
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Designation : |
Managing director |
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Address : |
The Leela Place, Chennai Adyar Seaface, MRC Nagar, Chennai – 6000028,
Tamilnadu, India |
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Date of Birth/Age : |
18.11.1962 |
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Date of Appointment : |
17.09.2009 |
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DIN No.: |
01667254 |
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Other Directorship:
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Name : |
Mr. Sumit Sawhney |
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Designation : |
Whole-time director |
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Address : |
37, Gujaranwala Town Part – 2, New Delhi – 110009, India |
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Date of Birth/Age : |
16.03.1971 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
02318359 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. S P Hima Bindu |
|
Designation : |
Secretary |
|
Address : |
Plot 16, Flat No. F2, Mantralaya Apartments, 1st, Street,
Kannika Colony, Nanganalur, Chennai – 600061, Tamilnadu, India |
|
Date of Appointment : |
05.03.2012 |
|
PAN No.: |
BCPPS4380B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Renault Development Industrial et Commercial SA (France) |
|
1000 |
|
Renault S.A.S. ( |
|
16699000 |
|
Renault Group BV (Netherlands) |
|
475000000 |
|
|
|
|
|
Total |
|
491700000 |
As on 10.12.2013
|
Names of Allottess |
|
No. of Shares |
|
Renault Group BV (Netherlands) |
|
464600000 |
|
|
|
|
|
Total |
|
464600000 |
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 Automobile and their components. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
6th and 7th Floor, A Block, Tidel Park, No.4, Rajiv Gandhi Salai, Taramani, Chennai-600 113, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFS3421N |
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|
Fellow Subsidiary
company: |
· Renault Nissan Global Management · Nissan Motor Company Limited · Nissan Motor Car Carrier Company Limited · Renault Nissan Technology and Business Centre India Private Limited, India [U50401TN2007PTC064840] · RCI Banque · Renault DO |
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Holding company: |
· Renault Group B.V |
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Subsidiary company |
· Nissan Motor India Private Limited, India [U34100TN2005PTC073897] · Renault Nissan Automotive India Private Limited, India [U34100TN2007PTC073002] |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000000 |
Equity Shares |
Rs.10/- each |
Rs. 10000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
956300000 |
Equity Shares |
Rs.10/- each |
Rs. 9563.0000 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
202200000 |
Equity Shares |
Rs.10/- each |
Rs. 2022.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
201700000 |
Equity Shares |
Rs.10/- each |
Rs. 2017.000
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 |
2017.000 |
2017.000 |
2017.000 |
|
(b) Reserves & Surplus |
(3455.011) |
(3608.797) |
(1298.279) |
|
(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) |
(1438.011) |
(1591.797) |
718.721 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3006.832 |
2306.832 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
947.077 |
62.670 |
5.621 |
|
Total Non-current Liabilities (3) |
3953.909 |
2369.502 |
5.621 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
765.221 |
1867.247 |
0.000 |
|
(b) Trade payables |
10481.345 |
1721.875 |
349.008 |
|
(c) Other current
liabilities |
664.047 |
426.180 |
120.585 |
|
(d) Short-term provisions |
45.056 |
13.855 |
0.560 |
|
Total Current Liabilities (4) |
11955.669 |
4029.157 |
470.153 |
|
|
|
|
|
|
TOTAL |
14471.567 |
4806.862 |
1194.495 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2426.551 |
358.151 |
91.909 |
|
(ii) Intangible Assets |
0.727 |
0.829 |
2.410 |
|
(iii) Capital
work-in-progress |
1.188 |
992.948 |
29.795 |
|
(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 |
0.396 |
|
(d) Long-term Loan and Advances |
5477.757 |
1189.613 |
59.958 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
7906.223 |
2541.541 |
184.468 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2963.271 |
1036.241 |
2.054 |
|
(c) Trade receivables |
2605.610 |
85.665 |
61.878 |
|
(d) Cash and cash
equivalents |
886.176 |
1091.677 |
867.655 |
|
(e) Short-term loans and
advances |
110.137 |
47.889 |
74.154 |
|
(f) Other current assets |
0.150 |
3.849 |
4.286 |
|
Total Current Assets |
6565.344 |
2265.321 |
1010.027 |
|
|
|
|
|
|
TOTAL |
14471.567 |
4806.862 |
1194.495 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
48047.086 |
3760.575 |
156.135 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
46945.713 |
5926.963 |
723.134 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1101.373 |
(2166.388) |
(566.999) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
443.578 |
116.961 |
0.032 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
657.795 |
(2283.349) |
(567.031) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
476.031 |
26.773 |
14.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
181.764 |
(2310.122) |
(581.333) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.978 |
0.396 |
1.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
153.786 |
(2310.518) |
(582.477) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3608.797) |
(1298.279) |
(715.802) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3455.011) |
(3608.797) |
(1298.279) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.31 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.32
|
(61.44) |
(373.06) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.26
|
(60.57) |
(49.91) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13)
|
(1.45) |
(0.81) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.62)
|
(2.62) |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.55
|
0.56 |
2.15 |
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 |
Yes |
|
23] |
Banking Details |
No |
|
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 |
LITIGATION DETAILS
|
CHENNAI COURT CASE STATUS INFORMATION SYSTEM
|
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
OPERATIONS
During the year the Company has launched the much awaited Renault 'Duster' in July, 2012 and in September 2012 launched Renault 'Scala'. The Duster, a well-packaged and segment-breaking product offering efficiency, reliability and value for money, has been a major contribution to the Renault volumes along with the globally successful Koleos and Fluence. The Company to manage the Duster volumes to reach Indian customers has ramped up its Dealer Network to around 100 in the financial year.
With growing recognition and acceptability of Renault in India, the Company has sold 35000 vehicles in the calendar year 2012. A record-breaking 29 awards for Duster and 37 awards for Renault has made Renault the most awarded auto brand in the country.
The Company has also started export of Completely Built Units [CBU] of vehicles to various countries and also initiated the exports of vehicle parts from local suppliers for use of alliance overseas manufacturing plants globally, from Pune and Chennai.
The Company's turnover is satisfactory last year and aspires to double its volume of vehicles sale in Indian markets calendar year 2013.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Other external commercial borrowings |
3006.832 |
2306.832 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
765.221 |
1867.247 |
|
|
|
|
|
Total |
3772.053 |
4174.079 |
FIXED ASSETS
Tangible assets
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Leasehold improvements
Intangible assets
· Computer software
PRESS RELEASES
RENAULT INDIA CLOCKS HIGHEST SALES EVER
Chennai, November 1, 2012: Renault India Private Limited, the fully owned subsidiary of Renault s.a.s. consolidated its position in the Indian automotive market with cumulative sales of 6790 units for the month of October, 2012. This is the highest sales recorded by the company since it started operations in May 2011 with the launch of the premium sedan – the Fluence.
Renault India Private Limited, in the last 17 months, has introduced five models across the range and developed a network of 75 dealership outlets, making it the company with the fastest ramp up of facilities and products in the Indian automotive market. The dealership network is expected to grow to 100 facilities by the end of 2012.
Commenting on the highest sales in October 2012, Marc Nassif, MD Renault India
Private Limited said, “We are highly pleased with our sales figures and we are
glad to see that the Indian customer has accepted Renault products very well,
especially the Renault Duster.
“We at Renault are very positive towards our entire product range and our
growing dealer network has also added to our growth in sales and reaching the
customers on a pan-India level.
“Although the market sentiments are not as buoyant as in the previous year
during the festive season, we still believe that we will be able to achieve our
targets and continue on our growth trajectory in the coming months”.
Renault India clocked 6790 units with the Duster accounting for 5406 units, the
Scala 737 units, Pulse 483 units, Fluence 107 units and the Koleos 57 units. In
October last year, Renault had two products in the market and had sold 173
units with Fluence selling 114 units and the Koleos 59 units.
AUTO EXPO 2014: RENAULT KOLEOS FACELIFT TEASED
FEBRUARY, 1, 2014
Renault India has released a teaser for the facelift of the Renault Koleos SUV using social media. The Koleos facelift is expected to feature at the upcoming Auto Expo 2014.
The company says along with the teaser, "An imposing front grille makes its presence felt on any sort of road. The all-new Koleos is on its way."
EIGHTEEN AWARDS FOR RENAULT DUSTER IN INDIA
JANUARY 28, 2013
· Renault Duster has received 18 distinctions in India since its launch in July 2012, including the coveted title of ‘Car of the Year 2013’.
·
· With more than 20,000 Dusters delivered to customers in six months, Renault Duster is second in India’s SUV segment.
· Renault has received a total of 23 awards in India, more than any other carmaker in the country in 2012.
In just a few weeks, Renault has won 18 distinctions in India. Performing strongly since its launch in July 2012, Renault Duster is now one of the 15 best-selling models in India. It generates more than two-thirds of Renault’s sales in the country.
“In the past few weeks, Renault India has received an unprecedented number of honours from the local media,” said Marc Nassif, Managing Director of Renault India. “For instance, Renault India was voted Car Manufacturer of the Year, Duster has been named Car of the Year by most Indian media, while Pulse and Scala were also distinguished in their respective segments. This is great recognition for a young brand in India like Renault.”
Renault Duster: Indian Car of the Year 2013
On December 20, 2012, in Mumbai, Renault Duster received the title of 2013
Indian Car of the Year (ICOTY). This accolade, created in 2006, is awarded
based on a model’s intrinsic qualities, from its design, comfort and safety to
its innovations and performance. It distinguishes cars that are extremely
popular in India and underscores the fantastic success of this new model in the
national market, where Renault Duster has created a new segment and already won
over more than 20,000 customers.
Renault, the most applauded brand in India
Within two years of its launch on the Indian market, Renault has become the
country’s most applauded brand, for the quality of the Duster and Pulse
products it markets as well as the work accomplished by its local teams with
the Scala commercial. A round-up of the accolades received:
· Indian Car of the Year (ICOTY): Duster, Car of the Year
· Autocar and Bloomberg TV: Duster, Car of the Year, Viewers’ Choice, and SUV of the Year
· NDTV: Duster, Car of the Year and Compact SUV of the Year; Scala, Creative TV Commercial of the Year; Pulse, Premium Hatch of the Year; and Renault India, Car Manufacturer of the Year
· Top Gear: Duster, Compact SUV of the Year and Readers’ Choice for the BBC and Times of India
· Car India: Duster, SUV of the Year
· Overdrive and CNBC-TV 18: Duster, Compact SUV of the Year
· Vicky.in, Motor Vikatan (Chennai) and Team BHP: Duster, Car of the Year
· Zigwheels and Economic Times: Duster, Car of the Year, Readers’ Choice and entry-level SUV of the Year
· AutoJunction.in: Duster, Car of the Year and Utility Vehicle of the Year; Renault Pulse, SuperMini of the Year; Renault Scala, Mid-size Sedan of the Year
About Renault India
Renault currently markets five models in India – a premium sedan (Fluence), a
luxury SUV (Koleos), a premium compact (Pulse), a compact SUV (Duster) and a
small sedan (Scala). Renault cars are manufactured at the Renault-Nissan
Alliance plant in Oragadam, near Chennai. Currently, Renault India has around
100 dealerships throughout the country.
RENAULT TO LAUNCH SUB-RS 0.450 MILLION CAR IN INDIA
FEBRUARY 05, 2014
France's Renault may launch a car priced below Rs. 0.450 Million in India, a senior executive said on Monday, as the company looks to tap the biggest and fastest growing segment of the Indian car market.
"Half of the market we are not addressing. What is happening below Rs. 0.450 Million, we don't have any cars so that's a big
space," Marc Nassif, head of Renault's India operations told Reuters at
the Indian auto show.
"Obviously, we want to go there," he said, without giving details of
the possible launch in that segment.
The company also plans to increase its dealership network in the country to 175
by the end of this year up from 125 at end December 2013, he said.
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.62.50 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
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 |
|
33 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.