MIRA
INFORM REPORT
|
Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
DELPHI AUTOMOTIVE SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-92, Himalaya
House, 23, Kasturba Gandhi Marg, New Delhi - 110001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.04.1995 |
|
|
|
|
Com. Reg. No.: |
55-067296 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4068.235 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC067296 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD08997C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD0226E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures and Traders in Automobile Components and also Develops
Embedded Software Systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Delphi Automotive Systems (Holding) Inc.,
U.S.A. It is an established company having a satisfactory track record. Management of the company has filed it financials for the year 2013
but the same is not available with us.
There appears accumulated losses recorded by the company during 2012. However, rating taken into consideration Delphi diversified products
portfolio in technology oriented components, presence in new product
development, expansion of customer base. Trade relation reported to be fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered normal for business dealing 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash credit: BBB |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based limits: A2 |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
March 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.
LOCATIONS
|
Registered Office : |
B-92, Himalaya House,
23, Kasturba Gandhi Marg, Delhi-110001, New Delhi, India |
|
Tel. No.: |
91-11- 46249600 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Headquarter : |
Delphi
Corporation, World Headquarters, |
|
Tel. No.: |
91- 248-813-2000 |
|
Fax No.: |
91- 248-813-26570 |
|
|
|
|
Corporate
Office/ Works : |
240, Phase – I,
Udyog Vihar, Gurgaon, |
|
Tel. No.: |
91-124-2345054/2345055/2345056/2345557/2345558/2345556 |
|
Fax No.: |
91-124-2345053 |
|
Area : |
Industrial |
|
|
|
|
Factory: |
Plot No. 3, Sector
41, Industrial Development Area, Greater Noida, District Gautam Budh Nagar,
Uttar Pradesh, India |
|
Tel. No.: |
91-120-2341381/95 /
2342629 |
|
Fax No.: |
91-120-2341383 /
2342619 |
|
|
|
|
Factory : |
Plot No. 98-A, KIADB
Industrial Area-II, Jigani Anekal Taluk, Bangalore-562106, |
|
|
|
|
Branch Office: |
A- 22, Sipcot Industrial Growth Center Orgadam, Sriperumbudur Taluk,
Kanchipuram District ,Tamilnadu, India. |
|
Tel. No.: |
91-44-37282400 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Malik Kul Bhushan |
|
Designation : |
Director |
|
Address : |
House No. 78, Block No.18, Gita Colony, Delhi – 110031, Delhi, India |
|
Date of Birth/Age : |
28.11.1977 |
|
Date of Appointment : |
30.09.2010 |
|
PAN No.: |
AFNPM2424G |
|
DIN No.: |
02944568 |
|
|
|
|
Name : |
Mr. Reji Varghese |
|
Designation : |
Managing Director |
|
Address : |
Elamathyil House, Vazhappally West, P. O. Changanacherry, Kerala –
686103, India |
|
Date of Birth/Age : |
21.07.1960 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
AADPV3823B |
|
DIN No.: |
03279577 |
|
|
|
|
Name : |
Mr. Nowtej Singh |
|
Designation : |
Director |
|
Address : |
Flat No. 303 Tower – 6, Unitech Fresco, Nirvana Country, South City – Ii
,Gurgaon - 122018 Haryana India |
|
Date of Birth/Age : |
19.12.1970 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
AUSPS9717Q |
|
DIN No.: |
03424987 |
|
|
|
|
Name : |
Mr. Nambi Ganesh Guruvel |
|
Designation : |
Director |
|
Address : |
203, Keerthi Manor, 2nd Phade4, 3rd Main, G.M.
Playa, Bangalore – 560075 Karnataka, India |
|
Date of Birth/Age : |
26.10.1964 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
03503357 |
|
|
|
|
Name : |
Ranji Abraham |
|
Designation : |
Additional director |
|
Address : |
Flat No. 801, JMD Gardens Sohna Road, Sector – 33, Village Islampur,
Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
16.07.1963 |
|
Date of Appointment : |
29.09.2012 |
|
PAN No.: |
ACAPA7520P |
|
DIN No.: |
05177241 |
|
|
|
|
Name : |
Mr. Nirdesh Karnawat |
|
Designation : |
Director |
|
Address : |
A – 63, Belvedere Tower, DLF City, Phase – II, Gurgaon – 122002,
Haryana, India |
|
Date of Birth/Age : |
08.06.1979 |
|
Date of Appointment : |
27.08.2013 |
|
DIN No.: |
06643905 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeeb Kumar Subudhi |
|
Designation : |
Secretary |
|
Address : |
148, DDA Flats, Sector – 17 A, Dwarka, |
|
Date of Birth/Age : |
22.06.1974 |
|
Date of Appointment : |
01.02.2010 |
|
PAN No. : |
AZLPS2428J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of
Shareholders (Equity Shares) |
No. of Shares |
|
Delphi International |
28499997 |
|
Delphi Global Holdings |
3 |
|
|
|
|
Total |
28500000 |
|
Names of Shareholders (Preference
Shares) |
No. of Shares |
|
Delphi International |
12182349 |
|
|
|
|
Total |
12182349 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
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 and
Exporters of Automotive Systems and Components like Catalytic Converter, Drive
Shafts and Wiring Harness. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Wiring sets |
Nos |
3600000 |
1701636 |
|
Canister |
Nos |
750000 |
431633 |
|
Heat ventilating and air conditioning parts |
Nos |
800000 |
439975 |
|
Throttle body |
Nos |
310000 |
-- |
|
Fuel module |
Nos |
150000 |
144380 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Axis Bank Limited, Shop No. 1-6 And 8-10, Ground Floor,
Suncity, Ninex Time Center, Sector – 54, Golf Course Road, Gurgaon – 122002
Haryana India ·
Yes Bank Limited, 9th Floor, Nehru
Center, Discovery Of India, dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India ·
Centurion Bank of Punjab Limited, SG-6 DLF
Galleria, Phase-Iv, Gurgaon - 122016, Haryana, India ·
UIT Bank Limited, DLF Gurgaon Branch , SG -20
-22, Galleria Shopping Complex ,DLF City ,Phase - Iv, Gurgaon - 122002,
Haryana, India |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
Bank of America National Trust And Savings Association, Hansalaya, 15,
Barakhamba Road, New Delhi – 110001 Delhi India |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
Golf View, Corporate Tower – B, Sector 42, Gurgaon - 122002 Haryana,
India |
|
PAN
No. : |
AABFS3291N |
|
|
|
|
Ultimate Holding Company: |
·
Delphi Automotive LLP, United Kingdom (w.e.f
October 6,2009) ·
Delphi Automotive Systems (Holding) Inc, USA (till
October 5, 2009) |
|
|
|
|
Enterprise having substantial interest
in the Company: |
·
Delphi International S.A.R.L. (Luxembourg) (w.e.f
October 6, 2009) ·
Delphi International Holdings Corporation, USA
(till October 5, 2009) ·
Delphi Automotive Systems Australia Limited,
Australia * ·
Delphi Packard Austria GmbH, Austria * ·
Delphi Automotive Systems do Brasil Ltda, Brazil ·
Delphi Diesel Systems France S.A.S, France * ·
Delphi France SAS, France ·
Delphi Automotive Systems DIX SAS, France ·
Delphi Deutschland Gmbh (Germany) ·
Delphi Delco
Electronics Europe GMBH,
Germany * ·
Prostep AG Germeny ·
Unterstützungsgesellschaft der Delphi Deutschland
Gmbh (Germany) ·
PT.Delphi Automotive Systems, Indonesia * ·
Delphi Italia Automotive Systems SRL, Italy,
Italy * ·
Delphi Automotive Systems Japan Limited, Japan ·
Delphi Korea LLC (Korea) ·
Korea Delphi Automotive Systems Corporation,
Korea ·
Delphi Automotive Systems Luxembourg SA ·
Packard Electric (Malaysia) Sdn.Bhd, Malyasia ·
Delphi Automotive Systems S.A. de C.V., Mexico * ·
Delphi Automotive Systems Poland Sp.z.o.o, Poland
* ·
Delphi Poland S.A, Poland ·
Delphi Automotive Systems Portugal S.A, Portugal ·
Delphi Diesel Systems Romania SRL, Romania * ·
Delphi Packard Romania SRL. ,Romania ·
Delphi Automotive Systems Singapore Pte Limited,
Singapore ·
Delphi Automotive Systems Espana, S.L., Spain |
|
|
|
|
Fellow subsidiaries with whom transactions have taken place during the Year: |
·
Delphi Automotive Systems(Thailand) Limited,
Thiland ·
Delphi
OtomotivSistemleriSanayiVeTicaretAnonimSirketi, Turkey * ·
Delphi Automotive Systems Limited Sirketi ,
Turkey ·
Delphi Diesel Systems Limited, U.K ·
Delphi Lockheed Automotive Limited, U.K ·
Delphi Automotive Systems LLC , USA ·
Delphi Technologies Inc ,USA ·
Beijing Delphi Technology Development Company Limited, China ·
Beijing Delphi Wan Yuan Engineering Management
System Company, China ·
Delphi (China) Technical Center Company Limited,
China ·
Delphi Shanghai Dyanmics and propulison Systems
Company Limited, China ·
Delphi Automotive Systems (China) Holding Company
Limited , China ·
Delphi Electrical Centers (Shanghai) Company
Limited, China ·
Delphi Packard Electric Systems Company Limited,China ·
Delphi Lockheed Automotive SA, France * ·
Delphi Trading (Sanghai) Company Limited, China ·
Delphi Electronics Suzhou Company Limited, China ·
Shanghai Delphi Automotive Air-conditioning
Systems Limited, China ·
Delphi Hungary Kft.,Hungary ·
Delphi Packard Electric ceska Rebublica S.R.O, CzecRebublic ·
Delphi Automotive Systems Maroc, Morroco ·
Delphi Slovensko S.r.o ,Solvakrebublic ·
Mecel AB ,Sweden |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28500000 |
Equity Shares |
Rs.100/- each |
Rs. 2850.000 Millions |
|
16500000 |
8% Non-Cumulative Optionally Convertible
Redeemable Preference Shares |
Rs.100/- each |
Rs.1650.000 Millions |
|
|
Total |
|
Rs. 4500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28500000 |
Equity Shares |
Rs.100/- each |
Rs. 2850.000 Millions |
|
12182349 |
Preference Shares |
Rs.100/-
each |
Rs. 1218.235
Millions |
|
|
Total |
|
Rs. 4068.235 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4068.235 |
4068.235 |
|
(b) Reserves & Surplus |
|
(1763.831) |
(1573.557) |
|
(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) |
|
2304.404 |
2494.678 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.550 |
11.012 |
|
Total Non-current Liabilities (3) |
|
5.550 |
11.012 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
1367.266 |
1074.653 |
|
(c) Other current liabilities |
|
272.757 |
123.417 |
|
(d) Short-term provisions |
|
63.497 |
29.906 |
|
Total Current Liabilities (4) |
|
1703.520 |
1227.976 |
|
|
|
|
|
|
TOTAL |
|
4013.474 |
3733.666 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1083.501 |
648.671 |
|
(ii) Intangible Assets |
|
11.242 |
0.000 |
|
(iii) Capital
work-in-progress |
|
115.212 |
185.105 |
|
(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 |
|
193.182 |
207.551 |
|
(e) Other Non-current assets |
|
1.176 |
2.669 |
|
Total Non-Current Assets |
|
1404.313 |
1043.996 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
817.762 |
635.926 |
|
(c) Trade receivables |
|
1031.267 |
710.483 |
|
(d) Cash and cash
equivalents |
|
469.843 |
1107.880 |
|
(e) Short-term loans and
advances |
|
267.097 |
223.013 |
|
(f) Other current assets |
|
23.192 |
12.368 |
|
Total Current Assets |
|
2609.161 |
2689.670 |
|
|
|
|
|
|
TOTAL |
|
4013.474 |
3733.666 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4068.235 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1784.879) |
|
|
NETWORTH |
|
|
2283.356 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2283.356 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
678.034 |
|
|
Capital work-in-progress |
|
|
55.845 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
453.645
|
|
|
Sundry Debtors |
|
|
610.924
|
|
|
Cash & Bank Balances |
|
|
1079.955
|
|
|
Other Current Assets |
|
|
92.515
|
|
|
Loans & Advances |
|
|
351.395
|
|
Total
Current Assets |
|
|
2588.434
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
929.194
|
|
|
Other Current Liabilities |
|
|
76.112
|
|
|
Provisions |
|
|
33.651
|
|
Total
Current Liabilities |
|
|
1038.957
|
|
|
Net Current Assets |
|
|
1549.477
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2283.356 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
5137.220 |
4304.980 |
5855.621 |
|
|
|
Increase in inventories of
finished goods, work-in-progress and traded goods |
71.400 |
121.9100 |
0.000 |
|
|
|
Other Income |
155.200 |
183.070 |
390.818 |
|
|
|
TOTAL |
5363.820 |
4609.960 |
6246.439 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
|
2969.964 |
|
|
|
Purchase of Trading Goods |
|
|
305.394 |
|
|
|
Personal Expenses |
|
|
1046.244 |
|
|
|
Operating and Other Expenses |
|
|
1141.703 |
|
|
|
Increased / Decreased in Stock |
|
|
42.760 |
|
|
|
Loss on sale of discontinued business |
|
|
155.517 |
|
|
|
TOTAL |
5179.070 |
4304.300 |
5661.582 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
184.750 |
305.660 |
584.857 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
11.680 |
11.370 |
13.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
173.070 |
294.290 |
571.846 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
120.590 |
93.070 |
183.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
52.480 |
201.220 |
387.903 |
|
|
|
|
|
|
|
|
|
|
TAX |
242.750 |
(10.100) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(190.270) |
211.320 |
387.903 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
(2172.780) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(1784.877) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export of Goods |
|
|
537.390 |
|
|
|
Software Development Services |
|
|
950.904 |
|
|
|
Income from engineering and business support service |
|
|
0.000 |
|
|
|
Reimbursement of Expenses |
|
|
26.370 |
|
|
TOTAL EARNINGS |
1522.960 |
1205.380 |
1514.664 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
1252.013 |
1332.043 |
|
|
|
Stores & Spares |
NA |
4.250 |
6.643 |
|
|
|
Capital Goods |
|
86.591 |
92.919 |
|
|
TOTAL IMPORTS |
|
1342.854 |
1431.605 |
|
|
|
|
|
|
|
|
|
|
Earnings (Loss)
Per Share (Rs.) |
0.47 |
7.41 |
13.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.60)
|
4.71 |
6.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.02
|
4.67 |
6.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.35
|
5.67 |
111.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.08 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.08 |
2.49 |
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 |
-------------- |
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10387146 |
31/10/2012 |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
B62256748 |
|
2 |
10000112 |
28/11/2011 * |
40,000,000.00 |
AXIS BANK LTD. |
SHOP NO. 1- 6 & 8 -10, GROUND FLOOR, SUN CITY, NI |
B26889964 |
* Date of charge modification
BUSINESS
OPERATIONS:
During 2011-12, the performance of the Company was moderately well. Except
for one or two divisions, all the divisions grew marginally. However, the
projection for the next few years is positive, and the Company expects good
growth in coming years.
The automotive sector also grew marginally during the year as compared
to high growth rates of earlier years. Though Delphi India grew at a rate
higher than the market, however, it was not up to the target. However, the
Company has continued with its investment plans and hopefully those investments
will result in much better growth in 2012-13 and future years.
The Company continued with expanding its operations to add more
capacities and footprints. The Packard Division of the Company is coming up
with its new Plant at Chakan, Pune. The plant is expected to go operational by
first quarter of next Financial Year. This plant will cater to the needs of
some high end customers of the Company located in Pune and nearby areas. The
Company is hopeful that these investments in expansion plans will result in
better profitable revenue in future.
The Company has won some good businesses during the period under review.
The Company has won new businesses from Tata Motors, Mahindra, Volkswagen,
Maruti Suzuki, General Motors India and others. The Company also expects to win
new businesses in the coming years also.
OUTLOOK AND FUTURE
PROSPECTS:
The growth story of the automobile industry during 2011-12, though was
not very impressive, but was relatively good. The industry could not make
significant growth during the financial year as compared to the last year;
however, the industry is still bullish on the Indian market and poised to do
better in the future.
The automobile industry could do a moderate business during 2011-12 as
compared to the previous year when the growth rate was significantly higher due
to major contribution from exports and fresh investment from abroad. The prime
factors that hampered the industry growth were lingering post-crisis
difficulties in high-income countries, political turmoil in the Middle-East and
North Africa and slow industrial production and trade from Japan due to
earthquake and tsunami. Rising inflation, interest rates and depreciating
currency were also big dampeners.
Notwithstanding the above, in the current fiscal in 2012-13 the picture
seems brighter. The Indian auto component sector is likely to clock a growth of
8-10 per cent this fiscal amid tough market environment. In 2012-13 the
domestic auto component industry is expected to witness a growth of 8-10 per
cent, while exports are likely to increase by 15-20 per cent.
In 2011-12, the automobile component industry had revenue of $ 43.5
billion, while exports stood at $ 7 billion. Though, few automobile component
manufacturers had to scale down their planned investments in the short term due
to a slowdown in the automobile market, however, they are bullish on the
industry's future.
It is estimated that the automobile and auto component industry will
account for more than 10 per cent of the country's GDP by 2016. The output of
the automobile and auto component industry would reach $145 billion by 2016,
accounting for more than 10 per cent of the country's GDP and generating
employment for more than a million people. As per ACMA, the turnover of
components industry is estimated to touch $ 66.3 billion in 2015-16. India's
exports from the sector expected to reach $ 12.3 billion in 2015-16.
Though the Indian economy is currently experiencing a slowdown, however,
under penetrated markets and the unfulfilled mobility aspirations of the people
of India are the driving forces that give us the confidence of a steady growth
trajectory.
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Leasehold improvements
Intangible assets
·
Computer 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.62.33 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.61 |
INFORMATION DETAILS
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
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 |
|
42 |
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.