MIRA INFORM REPORT
|
Report Date : |
20.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MECAPLAST INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
P-43, 8th Avenue, Mahindra World City, Natham Sub (Po),
Chengalpet – 603002, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
31.05.2005 |
|
|
|
|
Com. Reg. No.: |
18-080198 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.809 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999TN2005FTC080198 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM11044F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM2854M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of Components for Automotive Industry. |
|
|
|
|
No. of Employees
: |
180 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 590000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Mecaplast International B. V. It is an
established company having a satisfactory track record. Management has seen a better increase in its sales revenue as well as
net profitability during December, 2012. The company possesses an above average financial profile marked by
moderate gearing and strong operational support that the subject gets from
its parent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of healthy operating efficiency and technological support from
its group company, the subject can be considered for business dealings at
usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst and Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs.39000 mn this financial year and has a debt of Rs.350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs.35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
18.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
18.10.2013 |
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. B. S. Rao |
|
Designation : |
Finance Head |
|
Contact No.: |
91-44-37475000 |
|
Date : |
19.02.2014 |
LOCATIONS
|
Registered Office/ Factory : |
P-43, 8th Avenue, Mahindra World City, Natham Sub (Po), Chengalpet
– 603002, Tamilnadu, India |
|
Tel. No.: |
91-44-37475000/ 37475011 |
|
Fax No.: |
91-44-37475000/ 37475009 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
DIRECTORS
(AS ON 20.06.2013)
|
Name : |
Mr. Thierry Manni |
|
Designation : |
Director |
|
Address : |
Block B 1, Et Nigi Gh, Harbour Crest 3, Rue Louis Aureglia, Monaco -
98000 |
|
Date of Birth/Age : |
07.06.1968 |
|
Date of Appointment : |
09.03.2006 |
|
DIN No.: |
01550213 |
|
|
|
|
Name : |
Mr. Sreenivasa Rao Boyapati |
|
Designation : |
Director |
|
Address : |
A – 204, Sylvan County, Mahindra Worldcity, Nathan (PO), Chengalpet,
Kanchipuram – 603002, Tamilnadu, India |
|
Date of Birth/Age : |
03.07.1974 |
|
Date of Appointment : |
02.04.2009 |
|
DIN No.: |
02601324 |
KEY EXECUTIVES
|
Name : |
Mr. B. S. Rao |
|
Designation : |
Finance Head |
|
|
|
|
Name : |
P Sriram and Associates |
|
Designation : |
Practising Company Secretaries |
|
Address : |
No.10/17, Anandam Colony, South Canal Bank Road, Mandaveli, Chennai,
Tamilnadu, India |
|
Tel No.: |
91-44-42153510/ 45128000 |
|
Mobile No.: |
91-9566033011 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 20.06.2013)
|
Names of Shareholders |
No. of Shares |
% age |
|
|
|
|
|
Mecaplast International BV, The Netherlands |
1980887 |
100.00 |
|
Thierry Manni, Monaco |
1 |
0.00 |
|
|
|
|
|
Total |
1980888 |
100.00% |
(AS ON 30.06.2013)
Equity Shares Break – up
|
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 : |
Manufacture of Components for Automotive Industry. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· France · Italy |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
· Japan · France |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit (Depend) |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s · Toyota · Nissan · Renault |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
180 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Canara Bank Thousand Lights Branch, Greams Road, Chennai - 600006, Tamilnadu,
India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R Subramanian and Company Chartered Accountants |
|
Address : |
New No,6 (36), Krishnaswamy Avenue, Mylapore, Luz, Cennai – 600004,
Tamilnadu, India |
|
PAN No.: |
AAAFR0602F |
|
Tel No.: |
91-44-24992261/ 24991347/ 24994231 |
|
Fax No.: |
91-44-24991408 |
|
Email : |
|
|
Website |
|
|
|
|
|
Holding Company : |
· Mecaplast International B.V., The Netherlands |
|
|
|
|
Fellow Subsidiaries
: |
· Mecacorp · Amkey Management · Mecaplast Car Components (Shangai) Company Limited · Mecaplast Iberica, Espana · Mecacorp Aries SPA, Italy · Mecaplast Diffusion · Mecaplast Production |
CAPITAL STRUCTURE
(AS ON 20.06.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1980888 |
Equity Shares |
Rs.10/- each |
Rs.19.809
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
19.809 |
19.809 |
|
(b) Reserves & Surplus |
|
127.450 |
102.629 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1)+(2) |
|
147.259 |
122.438 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
126.857 |
128.420 |
|
(b) Deferred tax liabilities (Net) |
|
4.022 |
3.242 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
130.879 |
131.662 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
21.709 |
37.215 |
|
(b) Trade
payables |
|
129.167 |
136.699 |
|
(c) Other
current liabilities |
|
111.742 |
153.821 |
|
(d) Short-term
provisions |
|
0.603 |
2.584 |
|
Total Current
Liabilities (4) |
|
263.221 |
330.319 |
|
|
|
|
|
|
TOTAL |
|
541.359 |
584.419 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
324.948 |
261.100 |
|
(ii)
Intangible Assets |
|
0.249 |
0.121 |
|
(iii)
Capital work-in-progress |
|
1.717 |
14.357 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
16.796 |
14.486 |
|
Total Non-Current
Assets |
|
343.710 |
290.064 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
31.080 |
20.693 |
|
(c) Trade
receivables |
|
74.740 |
47.917 |
|
(d) Cash
and cash equivalents |
|
39.195 |
26.546 |
|
(e)
Short-term loans and advances |
|
18.954 |
98.186 |
|
(f) Other
current assets |
|
33.680 |
101.013 |
|
Total Current
Assets |
|
197.649 |
294.355 |
|
|
|
|
|
|
TOTAL |
|
541.359 |
584.419 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
19.809 |
|
|
2] Share Application Money |
|
|
2.400 |
|
|
3] Reserves & Surplus |
|
|
102.493 |
|
|
4] (Accumulated Losses) |
|
|
(11.842) |
|
|
NETWORTH |
|
|
112.860 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
187.965 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
187.965 |
|
|
DEFERRED TAX LIABILITIES |
|
|
5.508 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
306.333 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
265.621 |
|
|
Capital work-in-progress |
|
|
2.600 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
17.062 |
|
|
Sundry Debtors |
|
|
23.841 |
|
|
Cash & Bank Balances |
|
|
60.274 |
|
|
Other Current Assets |
|
|
0.219 |
|
|
Loans & Advances |
|
|
26.660 |
|
Total
Current Assets |
|
|
128.056 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.197 |
|
|
Other Current Liabilities |
|
|
84.403 |
|
|
Provisions |
|
|
5.344 |
|
Total
Current Liabilities |
|
|
89.944 |
|
|
Net Current Assets |
|
|
38.112 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
306.333 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
430.510 |
344.191 |
|
|
|
Other Income |
|
2.468 |
NA |
|
|
|
TOTAL (A) |
596.677 |
432.978 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
496.787 |
371.296 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
99.890 |
61.682 |
68.896 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.190 |
29.120 |
19.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
68.700 |
32.562 |
49.441 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.696 |
20.511 |
18.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
37.004 |
12.051 |
30.776 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.183 |
2.473 |
2.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
24.821 |
9.578 |
27.903 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
6.450 |
10.534 |
1.741 |
|
|
TOTAL EARNINGS |
6.450 |
10.534 |
1.741 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
NA |
84.948 |
56.186 |
|
|
|
Capital Goods |
NA |
0.617 |
1.913 |
|
|
TOTAL IMPORTS |
NA |
85.565 |
58.099 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.53 |
4.84 |
14.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
4.16
|
2.21 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.80 |
8.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.86
|
2.11 |
7.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.10 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.01
|
1.35 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.75
|
0.89 |
1.42 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.12.2011 |
31.12.2012 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
19.809 |
19.809 |
|
Reserves & Surplus |
|
102.629 |
127.450 |
|
Net worth |
|
122.438 |
147.259 |
|
|
|
|
|
|
long-term borrowings |
|
128.420 |
126.857 |
|
Short term borrowings |
|
37.215 |
21.709 |
|
Total borrowings |
|
165.635 |
148.566 |
|
Debt/Equity ratio |
|
1.353 |
1.009 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.12.2011 |
31.12.2012 |
|
|
|
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
|
430.510 |
596.677 |
|
|
|
|
38.598 |
NET PROFIT MARGIN
|
Net Profit Margin |
|
31.12.2011 |
31.12.2012 |
|
|
|
(INR) |
(INR) |
|
Total Income |
|
432.978 |
596.677 |
|
Profit |
|
9.578 |
24.821 |
|
|
|
2.21% |
4.16% |
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 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 |
Yes |
|
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 |
NOTE:
The registered office of the company has been shifted from
14 Ratan Apartments, S V Road, Borivali (West), Mumbai – 400092, Maharashtra,
India to
present address w.e.f. 02.02.2011.
FINANCIAL OUTLOOK:
The Company has achieved an overall sale of Rs.594.590 million (excluding ED, Scrap and Interest). The Company during the year has earned a Profit of Rs.37.000 Millions before tax and Rs.24.821 Million net profit after tax which is an increase of 15.24 Million compared to last year. This profit includes the profits earned from the sales of tools to various customer.
During the year, the company has adopted the depreciation rates in accordance with its group policy with retrospective effect. This effect of depreciation has resulted in increase of profit by Rs. 4.570 millions.
OPERATIONS:
During the year, company
has started mass production for various new projects for the existing customers
Renault, Nissan, Toyota, etc. They have also added new customers like Maruti
Suzuki and Volkswagen who have shown interest in developing products with them
and awarded them with the first business in India. Company also received
additional businesses from existing customers like Ford, Renault and Nissan due
to their consistent and excellent performance on quality and delivery. All the
new technologies Introduced last year brought in to full mass production
There has been a
substantial increase In the costs due to the market trends and inflation,
company could manage to achieve the results very near to the budget The company
also has incurred huge expenditure on financial costs due to high interest
rates in the country.
For the year 2013, company has budgeted a
sales turnover of around 9Mn Euro from the mass production. Turnover related to
the sales of tolls and studies will be additional. Company also set aggressive targets
for the improvement of local design and development activities.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10172011 |
21/11/2011 * |
294,000,000.00 |
CANARA BANK |
THOUSAND LIGHTS BRANCH,
GREAMS ROAD, CHENNAI, TAMILNADU - 600006, INDIA |
B27771203 |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Office Equipment
· Furniture and Fixtures
· Vehicles
PRESS RELEASE
MECAPLAST OPENED ITS
ZRENJANIN PLANT IN SERBIA ON APRIL 3RD, 2012
04.10.2012
On April 3rd,
2012 Mecaplast unveiled its first Serbian plant, in Zrenjanin! Among 120 guests,
Mecaplast welcomed the Serbian President, Mr Boris Tadic. The President has
moved from Belgrade accompanied by his ministers.
The Ceremony begun by the
speech of Thierry Manni, Chairman of Mecaplast Group, who gave thanks to the
Serbian Government and the locals authorities for their role in the creation of
the plant. And Mr Manni said that „this new plant will bring new skills on the
Serbian territory as most of our local manpower has been and will still be
trained in our historical plants in order to ensure the Mecaplast know-how that
is the guarantee of quality and satisfaction of our customers. Thierry Manni
focused on the fact that this implementation in Serbia is not a relocation but
a "localization because we locally develop and produce parts for
manufacturers located in Serbia and in frontlines countries."
The Serbian President Mr
Boris Tadic, thanked Mecaplast for participating in job creation and in the
development of the industrial network of the country. He was particularly
interested in the quality and the technical know-how of Mecaplast.
Finally, the French
Ambassador in Serbia François-Xavier Deniau and the Minister of Foreign Affairs
of Monaco, José Badia said that the inauguration of the plant is an important
step in the collaboration between France, Monaco and Serbia.
Mecaplast invested10 M€ on
this serbian plant. In 2013, 120 jobs will be created for a Turnover of 24M€.
This site has been chosen
to be one of the first ideal plants of the Group with involved employees that
are trained to best practices, optimized flow, industrial means at the best
standards and the exhaustive practice of Lean Manufacturing*.
This plant was created
thanks to the Fiat project, fifth customer of Mecaplast, which awarded us on
the new 500L on interior, exterior and engine parts.
As Christine Bénard, CEO,
announced „our perspectives of development are strong as we hope to collaborate
with the 7 carmakers located in a perimeter of 500km and with, as the President
Boris Tadic reminded, a second carmaker that might settle in Serbia by 2014.
The ceremony was
broadcasted over a dozen television news.
THE INDIAN MECAPLAST PLANT
HONOURED BY TOYOTA
29.07.2013
Last April the plant, based
in Chennai, has been honoured by Toyota during the suppliers annual conference
which was held in Bangalore. The Japanese group has indeed rewarded Mecaplast
India for its strength of innovation, in particular for the development of the
cylinder head cover (engine part). Mecaplast had proposed for this project to
use an innovative technology: the laser welding.
This Innovation award,
presented in live by Toyota, is a second win for the Group which was awarded
shortly before a Quality award within the framework of a joint venture with
Toyota Boshoku.
During the ceremony, which
was attended by 400 participants, Toyota went back over the performance and the
speed of execution showed by the Mecaplast teams during the development of this
engine part.
Last April the plant, based
in Chennai, has been honoured by Toyota during the suppliers annual conference
which was held in Bangalore. The Japanese group has indeed rewarded Mecaplast
India for its strength of innovation, in particular for the development of the
cylinder head cover (engine part). Mecaplast had proposed for this project to
use an innovative technology: the laser welding.
The award was given to BS
Rao, Mecaplast India Director, who never had a rest to thank the work of all
teams!
Mecaplast Group selects Technomedia
PARIS - September 17th 2013 - Technomedia,
a recognized leader in talent management solutions, announced today that the
motor vehicle equipment manufacturer Mecaplast has chosen Technomedia’s
solution to unify talent management for the company.
Founded in 1955, the Mecaplast Group, a European leader in automotive
equipment, designs, develops and manufactures parts and complete systems for
vehicle body and engine. Mecaplast’s 5,000 employees are based in 15 countries
to serve automakers across the world.
Each of their entities used their own talent profile management tool and
payroll system. This variety of systems had also prevented Mecaplast to build a
true common employee reference system.
With Technomedia’s solution, Mecaplast will be able to consolidate all
of their employee’s data, create reports and gather key indicators to help them
better manager their human resources.
Subsequently, Mecaplast intends to deploy the Technomedia Talent Profile
Management solution for its entire team as well as the talent management suite.
This Talent Profile management project is therefore the first step towards a
complete HRIS system for the group.
ABOUT TECHNOMEDIA
Since 1996, Technomedia has developed and delivered the integrated
global talent management solutions that enable organizations to drive
high-performance business results by unifying the collaboration between
employees, managers and candidates. Committed to the highest levels of customer
satisfaction and ranked No. 1 in this category by Bersin and Associates,
Technomedia provides the innovative technology, proven solutions and agile
support to help clients create the world’s most successful workplaces.
The full power of Technomedia customer-centric focus is integral to
every client relationship. The company’s comprehensive talent management
offerings are designed to complement existing systems, while bringing deep
functionality to critical aspects of talent acquisition, performance
management, succession planning, compensation, talent profile management, and
learning and development. Hundreds of clients in more than 70 countries rely on
Technomedia to analyze and recognize improved talent results.
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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
5 |
|
--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 |
|
46 |
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.