MIRA
INFORM REPORT
|
Report Date : |
31.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
BRIDGESTONE INDIA PRIVATE LIMITED (w.e.f. 2003) |
|
|
|
|
Formerly Known
As : |
BRIDGESTONE ACC INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No.A-43, Phase II, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
27.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-147267 (New No.) 10-010548 (Old No.) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7454.541
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25111PN1996PTC147267 (New No.) U25111MP1996PTC010548 (Old No.) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLB00992F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2304E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Purchasing, Selling, Importing, Exporting and Dealing
of Tyres, Tubes Flaps and Other Rubber Goods. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 92000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of BRIDGESTONE CORPORATION, JAPAN. It is a well-established
company having fine track record. The rating reflects healthy financial risk profile supported by
adequate liquidity position and fair profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities=AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
05.09.2013 |
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
31-03-2014.
INFORMATION DECLINED
Management Non Cooperative (91-2135-672187)
LOCATIONS
|
Registered/ Head/ Sales Office/ Factory 1: |
Plot No.A-43, Phase II, MIDC Chakan Village Sawardari, Taluka Khed,
Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-21-35671900 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2: |
Plot No 12, Kheda Growth Centre Post, Sagore, Pithampur, District –
Dhar – 454 774, Madhya Pradesh, India |
|
Tel. No.: |
91-7292-423333/ 423423 |
|
Fax No.: |
91-7292-255039 |
|
|
|
|
Sales and Marketing Head Office : |
Plot No. 5/4, 5th Floor, Shalimar Onyx
(Mirchandani Park), Off Andheri Kurla Road, Sakinaka, Andheri (East), Mumbai
– 400072, Maharashtra, India |
|
Tel No.: |
91-22-42496400 |
|
Fax No.: |
91-22-42496400/ 28563426 |
|
E-Mail : |
DIRECTORS
As on 14.04.2014
|
Name : |
Tomio Fukuzumi |
|
Designation : |
Managing Director |
|
Address : |
Room No.243, Hyatt Regency, Weikfield IT Park Nagar Road, Pune –
411014, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1965 |
|
Date of Appointment : |
29.03.2013 |
|
Email : |
|
|
DIN No.: |
06549425 |
|
|
|
|
Name : |
Mr. Ajay Vasudeo Sevekari |
|
Designation : |
Whole Time Director |
|
Address : |
103, Princess Landmark, Plot 21/12, Ratlam Kothy, |
|
Date of Birth/Age : |
08.05.1963 |
|
Qualification : |
BE (Chemical Engineering) and MBA |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02006157 |
|
PAN No.: |
AREPS8025N |
|
|
|
|
Name : |
Tatsuo Nakamura |
|
Designation : |
Whole Time Director |
|
Address : |
Flat 1002, 10th Floor Water Front, Kalyani Nagar, Pune –
411014, |
|
Date of Birth/Age : |
12.08.1964 |
|
Qualification : |
Graduate, Waseda University, Japan |
|
Date of Appointment : |
01.09.2011 |
|
PAN No.: |
AMSPN2957M |
|
DIN No.: |
03606743 |
|
|
|
|
Name : |
Masahiro Niinuma |
|
Designation : |
Whole time Director |
|
Address : |
Apartment 4108, Citrus Hotel and Resorts Opposite PCMC Building
Pimpri, Pune – 411018, Maharashtra, India |
|
Date of Birth/Age : |
17.04.1964 |
|
Qualification : |
Graduate, Waseda University, Japan
|
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
ALMPN1590P |
|
DIN No.: |
05254466 |
KEY EXECUTIVES
|
Name : |
Mrs. Abha Jaiswal |
|
Designation : |
Secretary |
|
Address : |
132 Mahavir
Nagar, |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
01.08.2005 |
|
PAN No.: |
AFWPJ4221K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 14.04.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bridgestone
Asia Pacific Pte Limited, Singapore |
|
745454120 |
|
Fukuzumi |
|
10 |
|
|
|
|
|
Total |
|
745454130 |
Equity Share Break up (Percentage of Total Equity)
As on 14.04.2014
|
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 : |
Manufacturing, Purchasing, Selling, Importing, Exporting and Dealing
of Tyres, Tubes Flaps and Other Rubber Goods. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management. |
|
|
|
|
Bankers : |
· The Bank of Tokyo Mitsubishi Limited, Jeevan Prakash, SIR P. M. Road, Ford, Mumbai – 400001, Maharashtra, India ·
State Bank of India, Commercial Branch, A. B. Road,
Indore – 452001, Madhya Pradesh, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte
Haskins and Sells Chartered
Accountants |
|
Address : |
3rd Floor, Tower
3, India Bulls, Finance Centre, Senapati Bapat Marg, Elphinstone (West),
Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-22854330/
66679000 |
|
Fax No.: |
91-22-22024499/
22024337/ 66679025 |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company: |
Bridgestone Corporation, Japan |
|
|
|
|
Fellow Subsidiaries : |
· Bridgestone Americas Holding Inc · Bridgestone Asia Pacific Pte Limited · Bridgestone Australia Limited · Bridgestone France S.A. · Bridgestone Logistics Company Limited · Bridgestone Metalpha (Thailand) Company Limited · Bridgestone Plant Engineering Company Limited · Bridgestone Seoul · Bridgestone Singapore Pte. Limited · Bridgestone Taiwan Company Limited · Bridgestone Technical Centre Europe S.P.A. · Bridgestone Tire Manufacturing Thailand Company Limited · Bridgestone Tire Sales Korea Limited · Bridgestone Tyre Sales Singapore PTE Limited · Bridgestone(Shenyang) Steelcord Company Limited · Bridgestone Synthetic Rubber Company Limited (Huizhou) · P.T. Bridgestone Tire Indonesia · Thai Bridgestone Company Limited |
CAPITAL STRUCTURE
As on 14.04.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1775300000 |
Equity Shares |
Rs.10/- each |
Rs.17753.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
745454130 |
Equity Shares |
Rs.10/- each |
Rs.7454.541
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7454.541 |
6928.000 |
4803.000 |
|
(b) Reserves & Surplus |
15596.604 |
13715.602 |
6666.886 |
|
(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) |
23051.145 |
20643.602 |
11469.886 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7396.005 |
4797.099 |
405.818 |
|
(b) Deferred tax liabilities (Net) |
481.100 |
287.900 |
311.900 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
331.898 |
120.145 |
44.233 |
|
Total Non-current Liabilities (3) |
8209.003 |
5205.144 |
761.951 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
381.010 |
651.393 |
|
(b) Trade payables |
1858.566 |
2236.007 |
2234.261 |
|
(c) Other current
liabilities |
2280.116 |
2751.431 |
1814.386 |
|
(d) Short-term provisions |
81.103 |
210.485 |
71.682 |
|
Total Current Liabilities (4) |
4219.785 |
5578.933 |
4771.722 |
|
|
|
|
|
|
TOTAL |
35479.933 |
31427.679 |
17003.559 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
23577.877 |
8045.033 |
8060.690 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2700.817 |
13725.471 |
3220.043 |
|
(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) |
245.986 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
364.373 |
444.563 |
853.403 |
|
(e) Other Non-current assets |
0.000 |
213.895 |
17.578 |
|
Total Non-Current Assets |
26889.053 |
22428.962 |
12151.714 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3368.221 |
3579.537 |
2692.749 |
|
(c) Trade receivables |
2285.591 |
2238.519 |
1842.887 |
|
(d) Cash and cash equivalents |
1161.404 |
1828.099 |
1.827 |
|
(e) Short-term loans and
advances |
1619.573 |
1346.239 |
313.499 |
|
(f) Other current assets |
156.091 |
6.323 |
0.883 |
|
Total Current Assets |
8590.880 |
8998.717 |
4851.845 |
|
|
|
|
|
|
TOTAL |
35479.933 |
31427.679 |
17003.559 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
19003.925 |
19602.400 |
15885.200 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
1281.626 |
2030.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
407.910 |
693.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
195.543 |
873.716 |
1336.800 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3916.916 |
2580.116 |
2580.116 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4112.459 |
3916.916 |
3916.916 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Goods Exported |
9.215 |
5.750 |
4.805 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4209.304 |
4836.056 |
3909.400 |
|
|
|
Components and Spare Parts |
0.000 |
0.000 |
58.608 |
|
|
|
Capital Goods |
2302.022 |
4484.365 |
521.036 |
|
|
|
Traded Goods |
2208.991 |
2766.205 |
0.000 |
|
|
|
Others |
198.253 |
117.766 |
0.000 |
|
|
TOTAL IMPORTS |
8918.57 |
12204.392 |
4489.044 |
|
|
|
|
|
|
|
|
|
|
Earnings per
share (Rs.) |
0.26 |
1.52 |
2.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
1.03 |
6.54
|
12.78
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00 |
7.24
|
15.60
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.09
|
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.32 |
0.25
|
0.14
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04 |
1.61
|
1.37
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4803.000 |
6928.000 |
7454.541 |
|
Reserves & Surplus |
6666.886 |
13715.602 |
15596.604 |
|
Net worth |
11469.886 |
20643.602 |
23051.145 |
|
|
|
|
|
|
long-term borrowings |
405.818 |
4797.099 |
7396.005 |
|
Short term borrowings |
651.393 |
381.010 |
0.000 |
|
Total
borrowings |
1057.211 |
5178.109 |
7396.005 |
|
Debt/Equity
ratio |
0.092 |
0.251 |
0.321 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
15885.200 |
19602.400 |
19003.925 |
|
|
|
23.400 |
(3.053) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
15885.200 |
19602.400 |
19003.925 |
|
Profit |
1336.800 |
873.716 |
195.543 |
|
|
8.42% |
4.46% |
1.03% |
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 |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
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 |
||||
|
Bench:- Bombay |
||||
|
Lodging No. : |
ARBAPL/850/2011 |
Failing Date:- |
30.07.2011 |
|
|
|
||||
|
Petitioner:- |
THE CLUB HM SUBURBAN FITNESS PARK |
Respondent:- |
BRIDGESTONE INDIA PRIVATE LIMITED |
|
|
Petn.Adv:- |
SWAPNIL RANE (0) |
|
||
|
District:- |
MUMBAI |
|||
|
|
||||
|
Bench:- |
SINGLE |
Category:- |
ARBITRATION APPLICATIONS |
|
|
Status:- |
Pre- Admission |
|
||
|
|
|
|||
|
Act. : |
Arbitration And Conciliation Act,1961 |
Under Section 11 |
||
NOTE:
The Registered office of the company has been
shifted from Plot No 12, Kheda Growth Centre Post, Sagore, Pithampur, District - Dhar
– 454 774, Madhya Pradesh, India, to the present address w.e.f. 22.04.2013.
REVIEW OF OPERATIONS
During the year 2013, your Company earned the total revenue of Rs. 19003.925 millions as against Rs.19020.248 millions during the previous financial year. EBIDTA was at Rs. 2124.914 millions as compared to Rs. 2075.946 millions during the previous financial year. The net profit for the year under review is Rs. 195.543 millions, as against Rs.873.716 millions in the previous financial year.
Changes in Capital
Structure
During the year 2013 the paid up capital of the Company has increased from Rs.6928.0000 millions to Rs.7454.5 millions by allotment of 52,654,130 equity shares of Rs.10/- each at a premium of Rs.32.01/- per equity share on dt.28.06.2013 to the existing member Bridgestone Asia Pacific Pte Limited. The present paid-up share capital of the Company is Rs.7,45,45,41,300 divided into 74,54,54,130 equity shares of face value Rs.10/- each and authorized share capital is Rs.17,753,000,000/- divided into 1,75,300,000 equity shares of Rs.10/- each.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
(Rs.
In Millions)
|
Unsecured Loan |
As
on 31.12.2013 |
As
on 31.12.2012 |
|
Long Term Borrowing: |
|
|
|
Foreign Currency Term Loan From Banks |
3677.005 |
3677.099 |
|
Term Loan From Others |
3719.000 |
1120.000 |
|
|
|
|
|
Short Term Borrowing: |
|
|
|
Working Capital Loan From Others |
0.000 |
381.010 |
|
|
|
|
|
Total |
7396.005 |
5178.109 |
FIXED ASSETS
·
Leasehold Land
·
Freehold Land
· Building
· Plant and Machinery
· Office equipment
· Furniture and fixtures
· Vehicles
AS PER WEBSITE
PRESS RELEASES
BRIDGESTONE HOSTS THE
OPENING CEREMONY FOR THE NEW TIRE PLANT IN INDIA
2013/02/05
Tokyo (February 5, 2013) - Bridgestone Corporation today announced that its subsidiary, Bridgestone India Private Limited (BSID), held a ceremony marking the grand opening of the Pune Plant, located near the city of Pune in Maharashtra State, India. The Pune Plant began producing passenger car radial tires (PSR) in January 2013, and will begin producing truck and bus radial tires (TBR) in October 2013. Production capacity is expected to reach approximately 10,000 PSR units per day by the end of 2014, and approximately 3,000 TBR units per day by the second half of 2017. The Pune Plant is Bridgestone's second tire production facility in India.
At the ceremony, Kazuhisa Nishigai, Bridgestone's COO and Representative Board Member, gave the opening speech. Mr. Nishigai talked about the outlook for growing the market in India, and the further expansion of the Company's operations there. He also mentioned how the Group is pleased that it will be able to offer its customers in India a higher level of service and supply, and his belief that the new plant would lead to further success for the Bridgestone group in the Indian market.
Through the construction of the Pune Plant, BSID has strengthened its ability to supply tires to the domestic market in India, which is expected to see growth in the production and sales of automobiles, as well as substantial growth in tire demand.
Moving forward, the Bridgestone Group will continue to build on its manufacturing and distribution systems in order to respond more quickly to changes in market demand and supply high quality products to our customers. Additionally, the Group will also continue working to support the growth and development of the local communities where we have a presence.
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.60.15 |
|
|
1 |
Rs.101.93 |
|
Euro |
1 |
Rs.80.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
72 |
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.