MIRA
INFORM REPORT
|
Report Date : |
31.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
FORD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S.P. Koil Post,
Chengalpattu, Kanchipuram,
Chennai – 603204, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.08.2000 |
|
|
|
|
Com. Reg. No.: |
18-045537 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.47670.000 Millions |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM02210F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4454H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Passenger Vehicles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 120173000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a
subsidiary of Ford Motors USA, an auto giant. It is an established company
having a moderate track record. Indian operations of the company is not doing
well. Profitability of the company is under pressure. However, trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can
be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (91-44-67403200)
LOCATIONS
|
Registered
Office/ Factory/ Corporate Office : |
S P Koil Post, Chengalpattu, Kanchipuram, Chennai
– 603204, Tamilnadu, India |
|
Tel. No.: |
91-4114-27454375 91-44-67403333 |
|
Fax No.: |
91-4114-27455177 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
350 Acres |
|
|
|
|
Corporate
Office - North: |
3rd Floor, Building 10C, DLF Cyber
City, DLF Phase – II, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-3873001 |
|
Fax No.: |
91-124-3873999 |
|
|
|
|
New Plant (Under Construction) : |
Revenue Survey 1, Village Northkaputa,
Taluka Sanand, Ahmedabad, Gujarat, India |
|
|
|
|
Regional
Office : |
West
301, Tel. : 91-22-67024300 Fax: 91-22-67024305 South
Block – 1B, 1st Floor, Tel. : 91-44-24551500 Fax : 91-44-24559965 East
6th Floor, Unit # D2, Aakash
Tower, 781, Anandpur, Kolkata - 70010, West Bengal, India Tel. : 91-33-40073930-34 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Kuljit Singh Rana |
|
Designation : |
Whole Time Director |
|
Address : |
Mayflower Apartment, No.9, |
|
Date of Birth/Age : |
13.05.1965 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
02680026 |
|
|
|
|
Name : |
Mr. Tom Scaria Chackalackal |
|
Designation : |
Director |
|
Address : |
3067, GST Road, Vallanchery – 603202, Tamilnadu, India |
|
Date of Birth/Age : |
13.07.1970 |
|
Date of Appointment : |
02.07.2012 |
|
PAN No.: |
AEPPC8437C |
|
DIN No.: |
05303324 |
|
|
|
|
Name : |
Mr Joginder Pal
Singh |
|
Designation : |
Managing Director
|
|
Address : |
No. 6A, Waters
Edge, 5th Drive Sea Clif Conclave, Akkarai, Chennai – 600119,
Tamilnadu, India |
|
Date of Birth/Age : |
06.01.1954 |
|
Date of Appointment : |
01.12.2012 |
|
PAN No.: |
ALBPJ7287Q |
|
DIN No.: |
02395452 |
|
|
|
|
Name : |
Mr. David Linden Schoch |
|
Designation : |
Director |
|
Address : |
36th Floor, SIT No 211, Century Avenue, Shangai, China |
|
Date of Birth/Age : |
27.04.1951 |
|
Date of Appointment : |
27.03.2013 |
|
DIN No.: |
06537288 |
KEY EXECUTIVES
|
Name : |
Avneesh Chopra |
|
Designation : |
Secretary |
|
Address : |
C-4/4, Plot No.53, Mangla Apartments, Patparganj, IP Extension, Delhi
– 110092, India |
|
Date of Birth/Age : |
20.08.195 |
|
Date of Appointment : |
01.05.2013 |
|
PAN No.: |
ABXPC7602C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ford Motor Company, USA |
|
418654904 |
|
Ford International Services LLC, USA |
|
79045096 |
|
|
|
|
|
Total |
|
497700000 |
As on: 29.01.2014
|
Names of Allottees |
|
No. of Shares |
|
Ford Motor Company, USA |
|
15645948 |
|
Ford International Services LLC, USA |
|
2954052 |
|
|
|
|
|
Total |
|
18600000 |
As on: 20.12.2013
|
Names of Allottees |
|
No. of Shares |
|
Ford Motor Company, USA |
|
13879470 |
|
Ford International Services LLC, USA |
|
2620530 |
|
|
|
|
|
Total |
|
16500000 |
As on: 25.03.2014
|
Names of Allottees |
|
No. of Shares |
|
Ford Motor Company, USA |
|
31291896 |
|
Ford International Services LLC, USA |
|
5908104 |
|
|
|
|
|
Total |
|
37200000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
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 : |
Manufacturing and Selling of Passenger Vehicles. |
||||
|
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227, D, Nariman Point, Mumbai - 400021, Maharashtra, India · Indian Overseas Bank, Nandanar Street, NH 2, Maraimalai Nagar - 603204, Tamilnadu, India · ICICI Bank Limited, Land Mark Race Course Circle, Vadodara, Gujarat, India ·
The Hongkong and Shanghai Banking Coporation
Limited No 30 Rajaji Salai, Chennai - 600001, Tamilnadu, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants, Chennai. |
|
Address : |
32, |
|
PAN.: |
AABFL5878L |
|
|
|
|
Fellow Subsidiary
company : |
· Thirdware Solution limited U72900MH1995PLC089765 · Ford Global Technologies Inc. · Troy Design and Manufacturing · Ford Werke AG · Changan Ford Automobile Corporation Limited · Ford Trading Company, LLC · Ford Indonesia · Chongqingante Trading · Ford of Britain · Ford of Germany · Valencia Parts OPS · Ford Lio Ho Motor Company Limited · Ford Motor Company Thailand Lt · American Road Insurance · Ford International Capital · Ford Vietnam Limited · Ford Credit Europe · Ford Motor · Company of Southern Africa Manufacturing Pty Limited · Ford Sales and Service (Thailand) Company Limited · Ford Espana S.L · Ford Motor Company Brazil Ltda · Ford Motor Company, Mexico · Ford Motor Company of Australia Limited · Getrag France · Mazda Motor Co · Getrag Ford Transmissions Gmbh · Ford Trading Company · Dubai Parts Distribution Limited · Ford Motor Company , Philippines · Ford Operations (Thailand) Company Limited · FCE Bank plc · Ford Motor company Philipines · Ford Motor Company, China · Ford Canada · Getrag (Jiangxi) Transmissions Company Limited · Ford International Services · Ford Argentina S.C.A · Ford Motor Company · Auto Alliance Thailand |
|
|
|
|
Sister Concern : |
|
CAPITAL STRUCTURE
After: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000000 |
Equity Shares |
Rs.100/- each |
Rs.70000.000 Millions |
|
250000000 |
Preference Shares |
Rs.100/-
each |
Rs.25000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.95000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
570000000 |
Equity Shares |
Rs.100/- each |
Rs.57000.000 Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs.100/- each |
Rs.50000.000 Millions |
|
500000000 |
Preference Shares |
Rs.100/-
each |
Rs.50000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.100000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
476700000 |
Equity Shares |
Rs.100/- each |
Rs.47670.000 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 |
47670.000 |
28890.000 |
21220.000 |
|
(b) Reserves & Surplus |
(17626.600) |
(13428.176) |
(12027.869) |
|
(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) |
30043.400 |
15461.824 |
9192.131 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
19205.443 |
14290.982 |
10823.461 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
535.731 |
724.621 |
470.063 |
|
(d) long-term provisions |
29.336 |
257.661 |
307.291 |
|
Total
Non-current Liabilities (3) |
19770.510 |
15273.264 |
11600.815 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5496.374 |
3908.682 |
3357.496 |
|
(b) Trade payables |
14352.050 |
12925.187 |
12273.514 |
|
(c) Other current liabilities |
2318.118 |
1085.951 |
673.436 |
|
(d) Short-term provisions |
2086.259 |
1203.261 |
187.191 |
|
Total
Current Liabilities (4) |
24252.801 |
19123.081 |
16491.637 |
|
|
|
|
|
|
TOTAL |
74066.711 |
49858.169 |
37284.583 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
24407.714 |
23603.200 |
21928.373 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
18163.044 |
2802.037 |
947.239 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2336.628 |
3735.653 |
1415.739 |
|
(e) Other Non-current assets |
275.383 |
24.605 |
38.295 |
|
Total
Non-Current Assets |
45182.769 |
30165.495 |
24329.646 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
10627.891 |
8780.959 |
6395.683 |
|
(c) Trade receivables |
2679.807 |
2373.026 |
1864.739 |
|
(d) Cash and cash equivalents |
8107.894 |
6043.434 |
3461.756 |
|
(e) Short-term loans and
advances |
7279.569 |
2257.965 |
990.243 |
|
(f) Other current assets |
188.781 |
237.290 |
242.516 |
|
Total
Current Assets |
28883.942 |
19692.674 |
12954.937 |
|
|
|
|
|
|
TOTAL |
74066.711 |
49858.169 |
37284.583 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
(A) |
65300.000 |
66850.000 |
56365.000 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Manufacturing, administrative
and selling Expenses |
65480.000 |
64810.000 |
54288.900 |
|
|
TOTAL
(B) |
65480.000 |
64810.000 |
54288.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(170.000) |
2040.000 |
2076.100 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
1140.000 |
600.000 |
341.200 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1310.000) |
1440.000 |
1734.900 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
2890.000 |
2840.000 |
2809.900 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(4200.000) |
(1400.000) |
(1075.000) |
|
|
|
|
|
|
|
|
TAX
(I) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(4200.000) |
(1400.000) |
(1075.000) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(13440.000) |
(12040.000) |
(10962.900) |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
(17640.000) |
(13440.000 |
(12040.000) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.14) |
(0.09) |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(6.43) |
(2.09) |
(1.91) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.51) |
(2.98) |
(2.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14) |
(0.09) |
(0.12) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.82 |
1.18 |
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.03 |
0.79 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
21220.000 |
28890.000 |
47670.000 |
|
Reserves & Surplus |
(12027.869) |
(13428.176) |
(17626.600) |
|
Net
worth |
9192.131 |
15461.824 |
30043.400 |
|
|
|
|
|
|
long-term borrowings |
10823.461 |
14290.982 |
19205.443 |
|
Short term borrowings |
3357.496 |
3908.682 |
5496.374 |
|
Total
borrowings |
14180.957 |
18199.664 |
24701.817 |
|
Debt/Equity
ratio |
1.543 |
1.177 |
0.822 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
56365.000 |
66850.000 |
65300.000 |
|
|
|
18.602 |
(2.319) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
56365.000 |
66850.000 |
65300.000 |
|
Profit |
(1075.000) |
(1400.000) |
(4200.000) |
|
|
(1.91%) |
(2.09%) |
(6.43%) |
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 |
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 |
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
|
Status Of: |
TAX CASE APPEAL |
|
Case No.: |
12 |
|
Year : |
2014 |
|
Petitioner : |
THE COMMISSIONER OF INCOME TAX |
|
Respondent : |
M/S FORD INDIA PVT LTD |
|
Pet's Advocate : |
M/S.T.RAVIKUMAR |
|
Res's Advocate : |
CHENNAI |
|
Category : |
NO CATEGORY MENTIONED |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Jun 5 2014 |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
10999.925 |
6622.850 |
|
Deferred payment liabilities |
6924.233 |
6130.590 |
|
Deferred payment Indian sources |
1281.285 |
1537.542 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
2543.759 |
3071.776 |
|
Intercorporate borrowings |
1357.125 |
0.000 |
|
|
|
|
|
Total |
23106.327 |
17362.758 |
NEW BUSINESS ACTIVITY
The Company launched India’s most eagerly awaited urban SUV the All-new Ford EcoSport reinforcing its commitment to a long-term product led growth strategy in India, despite on-going subdued market conditions. The Company has received an overwhelming response from customers and has received more than 50000 bookings since its launch June 2013. The Company is working hard to optimize deliveries and reduce waiting time for customers.
Further to the announcement of Ford India’s second integrated manufacturing plant in Sanand, Gujarat, the ground breaking ceremony was held in Sep’11 and the construction work commenced soon after. The Engine plant, Paint shop and Stamping buildings are already in advance construction stages and equipment installation is in progress.
The new facility involves the investment of approximately USD 1 billion, include two plants, one for vehicle manufacturing with an initial capacity of 240,000 vehicles, and the other for engines with an initial capacity of 270,000 engines
PRODUCTION
The Company during the financial year ended 31st March 2013 had produced 109,964 passenger cars in total consisting of Ford Figo, Ford Fiesta, Ford Classic and Ford Endeavour, both for domestic and export markets. The Company achieved Figo production milestone of 300,000 units in August 2013 for both domestic and export markets. Chennai built Figo is currently being exported to 37 markets and EcoSport exports commenced from India in July 2013.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10450239 |
06/08/2013 |
1,500,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT, M |
B85452860 |
|
2 |
10078691 |
29/09/2006 |
250,000,000.00 |
Indian Overseas Bank |
NANDANAR STREET, NH 2, MARAIMALAI NAGAR, TAMIL NADU - 603209, INDIA |
A07662802 |
|
3 |
90288611 |
15/03/2007 * |
250,000,000.00 |
Indian Overseas Bank |
NANDANAR STREET, NH2, MARAIMALAI NAGAR, TAMIL NADU - 603209, INDIA |
- |
|
4 |
90290974 |
01/12/2005 |
250,000,000.00 |
INDIAN OVERSEAS BANK |
M.M. NAGAR BRANCH, CHENGALPATTU, TAMILNADU, INDIA |
- |
|
5 |
90288420 |
21/07/2008 * |
500,000,000.00 |
Indian Overseas Bank |
NANDANAR STREET, NH 2, MARAIMALAI NAGAR, TAMIL NADU - 603204, INDIA |
A43011469 |
|
6 |
90285769 |
24/09/2012 * |
1,500,000,000.00 |
State Bank of India |
CAG BRANCH, 3RD FLOOR, SIGAPI AACHI BUILDING, RUKMANI LAKSHMIPATI ROAD, CHENNAI, TAMIL NADU - 600008, INDIA |
B60359122 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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.101.92 |
|
Euro |
1 |
Rs.80.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
34 |
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.