MIRA INFORM REPORT

Report Date :

24.03.2014

IDENTIFICATION DETAILS

Name :	SUZUKI MOTORCYCLE INDIA LIMITED
Formerly Known As :	SUZUKI MOTORCYCLE INDIA PRIVATE LIMITED [w.e.f. 06.08.2005] INTEGRA OVERSEAS PRIVATE LIMITED
Registered Office :	2^nd Floor, Plot No.1, Nelson Mandela Road, Vasant Kunj, New Delhi – 110070,
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	25.04.1997
Com. Reg. No.:	55-086871
Capital Investment / Paid-up Capital :	Rs.7815.532 Millions
CIN No.: [Company Identification No.]	U74899DL1997PTC086871
TAN No.: [Tax Deduction & Collection Account No.]	DEL104579B
PAN No.: [Permanent Account No.]	AAACI5832P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Two Wheelers and Spare Parts
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 14100000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of Suzuki Motor Corporation. It is an established company having a moderate track record. The rating reflects moderate financial risk profile marked by continuous accumulated losses that company has incurred over a year and below average financial performance. However, trade relations are fair. Business is active. Payment terms are slow but correct. In view of strong holding support, 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 – 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

State-run banks hired nearly 300000 personnel including more than 94000 officers in the last four years, according to the Indian Banks Association. A study by trade lobby Assocham in September 2013 indicated that banks would need 800000 people in the next six years. It estimated that state-run lenders alone would hire 50000 people in 2013/14.

The Competition Commission of India plans to issue final orders within a broad time-frame of one year in matters where it decides to carry out detailed investigations. The number of complaints received by the watchdog which keeps tabs on unfair trade practices in the marketplace.

The government has detected custom tax evasion totaling around Rs 37920 mn in 14 states until December. Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs 8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.

Connaught Place in New Delhi slipped four notches to become the world’s eighth most expensive office locations. London’s West End is the world’s most expensive office market.

There are 4.072 mn number of high value spenders under the scanner of the income tax department. The income tax department has information that they have made cash deposits announcing to Rs 1 mn or more in their savings bank accounts in the current financial year. It plans to check potential evasion before the closing of the financial year on March 31.

Estimated pharmaceutical sales in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago. The life sciences and health care industry is up against challenges such as quality management, says a recent Deloitte report.

The gross non-performing assets of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore to their gross NPAs in nine months with the State Bank of India leading with the State Bank of India leading with an accretion of Rs 16610 crore.

The inflow of smuggled gold doubled in 2013 following restrictions to curb the supply from official channels to contain the current account deficit. China surpassed India in the demand for gold for the first time in 2013 due to liberalization of gold trading norms by its local governments.

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 DENIED

Management Non-cooperative (Tel. No.: 91-11-43127114)

LOCATIONS

Registered Office/ Sales and Marketing Office :	2^nd Floor, Plot No.1, Nelson Mandela Road, Vasant Kunj, New Delhi – 110070, India
Tel. No.:	91-11-26253125
Fax No.:	91-11-46075418
E-Mail :	singh.amit@suzukimotorcycle.in sharma.himani@suzukimotorcycle.in
Website :	http://www.suzukimotorcycle.in
Factory :	Village Kherki Daula, Badshapur NH 8, Link Road, Gurgaon, Haryana, India
Tel. No.:	91-124-4170700
Fax No.:	91-124-4170701/ 4117325

DIRECTORS

As on 13.08.2013

Name :

Mr. Saqulain Yasin Siddiqui

Designation :

Director

Address :

B-268, Sector – 26, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

01.07.1958

Date of Appointment :

29.09.2007

DIN No.:

00045925

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74999DL2002PLC113812	MARUTI INSURANCE DISTRIBUTION SERVICES LIMITED	Nominee director	03/02/2006	03/02/2006	-	Active	NO
2	U74899DL1997FLC086871	SUZUKI MOTORCYCLE INDIA LIMITED	Director	29/09/2007	12/03/2007	-	Active	NO
3	U27109DL2002PLC117679	SUZUKI POWERTRAIN INDIA LIMITED	Director	23/04/2007	23/04/2007	16/05/2008	Amalgamated	NO

Name :

Mr. Ichiro Kondo

Designation :

Managing Director

Address :

703/A2, Uniworld City, Gurgaon-122001, Haryana, India

Date of Birth/Age :

15.12.1961

Date of Appointment :

04.11.2010

DIN No.:

03309347

Name :

Mr. Jun Hashimoto

Designation :

Whole Time Director

Address :

Room No.501, Japanses Hostel Cum Restaurant, Opposite To MDI Gate 3, Adjacent To NH-8, Gurgaon-122001, Haryana, India

Date of Birth/Age :

20.06.1986

Date of Appointment :

21.04.2011

DIN No.:

03450324

Name :

Mr. Kazuhiko Ayabe

Designation :

Additional Director

Address :

Japanese Hotel, Opposite MDI Gate No.3, Adjacent TO NH – 8, Sector 16, Gurgaon – 122001, Hayrana, India

Date of Birth/Age :

18.03.1958

Date of Appointment :

04.09.2013

DIN No.:

02917011

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L29113DL1984PLC018415	SONA KOYO STEERING SYSTEMS LIMITED	Nominee director	27/07/2010	30/01/2010	-	Active	NO
2	U27205HR2010PTC041264	Manesar Steel Processing (India) Private Limited	Director	29/03/2011	08/03/2011	29/11/2012	Active	NO
3	L34103DL1981PLC011375	MARUTI SUZUKI INDIA LIMITED	Whole-time director	28/04/2012	28/04/2012	-	Active	NO
4	U32204DL1993PLC055905	MARK EXHAUST SYSTEMS LIMITED	Director	20/07/2013	08/12/2012	-	Active	NO
5	U74899DL1997FLC086871	SUZUKI MOTORCYCLE INDIA LIMITED	Additional director	04/09/2013	04/09/2013	-	Active	NO

Name :

Mr. Kenichi Ayukawa

Designation :

Additional Director

Address :

34-11, Nakayoshida, Shizuoka, 4228001

Date of Birth/Age :

07.10.1955

Date of Appointment :

04.09.2013

DIN No.:

02262755

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L34103DL1981PLC011375	MARUTI SUZUKI INDIA LIMITED	Managing director	01/04/2013	21/07/2008	-	Active	NO
2	U74130HR1986PLC023655	SKH METALS LIMITED	Director	25/09/2013	20/05/2013	-	Active	NO
3	L26102DL1984PLC019542	ASAHI INDIA GLASS LIMITED	Director	14/08/2013	21/05/2013	-	Active	NO
4	U74899DL1985PLC020134	SUBROS LIMITED	Additional director	29/07/2013	29/07/2013	-	Active	NO
5	U74899DL1997FLC086871	SUZUKI MOTORCYCLE INDIA LIMITED	Additional director	04/09/2013	04/09/2013	-	Active	NO
6	U34300HR1991PLC032012	KRISHNA MARUTI LIMITED	Additional director	29/11/2013	29/11/2013	-	Active	NO

Name :

Hiroshi Ema

Designation :

Additional Director

Address :

Room No. 229, Jukaso IT Suits IT Composite Towers, 1, IDC, Meharauli, Road, Sector – 14, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

20.12.0956

Date of Appointment :

04.09.2013

DIN No.:

06680285

KEY EXECUTIVES

Name :	Mr. Himani Sharma
Designation :	Secretary
Address :	H No.11A, Chattarpur Village, New Delhi-110074, India
Date of Birth/Age :	07.01.1988
Date of Appointment :	25.09.2012
PAN No.:	AEDPH9628E

MAJOR SHAREHOLDERS

As on 13.08.2013

Names of Shareholders	No. of Shares
Suzuki Motor Corporation, Japan	781553194
Suzuki Business Corporation, Japan	1
Suzuki Transportation and Packing company Limited, Japan	1
Suzuki Consultants Company Limited, Japan	1
Suzuki Auto Parts Mfg. Company Limited, Japan	1
Suzuki Motorcycle Sales Inc, Japan	1
Suzuki Finance Company Limited, Japan	1
Total	781553200

Equity Share Break up (Percentage of Total Equity)

As on 13.08.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Two Wheelers and Spare Parts

Products :

Products Description	ITC Code No.
Two Wheelers	8711
Spare Parts	8714
Motor Cycle and Scooter	87112029
Parts and Accessories	87141090

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Motorcycles / Scooters	In Nos.	280000	282328

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· The Bank of Tokyo Mitsubishi Bank, Parliament Street, Delhi, India

· ICICI Bank Limited, Gurgaon, Haryana, India

· Mizuho Corporate Bank Limited

· State Bank of Hyderabad

· Bank of Maharashtra

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Long term maturities of finance lease obligation	0.000	0.075
Total	0.000	0.075

Banking Relations :	--
Auditors :
Name :	V Sankar Aiyar and Company Charted Accountant
Address :	202-301, Satyam Cinema Complex, Ranjit Nagar Community, New Delhi – 110008, Delhi, India
Tel. No.:	91-124-25702074/25702691/25704639
Fax No.:	91-124-2549101
PAN No.:	AAAFV0781D
Holding Company :	· Suzuki Motor Corporation
Fellow Subsidiaries :	· Maruti Suzuki India Limited, India CIN No.: L34103DL1981PLC011375 · Suzuki Motor De Colombia S.A., Colombia · Vietnam Suzuki Corporation, Vietnam · Thai Suzuki Motor Company Limited, Thailand · Jinan Qingqi Suzuki Motorcycle Company Limited, China · Suzuki Motor Espana, Spain
Associates :	· Suzuki Motor De Colombia S.A., Colombia · Changzhou Haojue Suzuki Motorcycle Co Limited, China

CAPITAL STRUCTURE

As on 13.08.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
850000000	Equity Shares	Rs.10/- each	Rs. 8500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
781553200	Equity Shares	Rs.10/- each	Rs. 7815.532 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	7815.532	7815.532	7815.532
(b) Reserves & Surplus	(4293.372)	(3948.894)	(3937.935)
(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)	3522.160	3866.638	3877.597
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.075	0.221
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	71.414	58.314	57.907
(d) long-term provisions	23.738	15.430	10.990
Total Non-current Liabilities (3)	95.152	73.819	69.118
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	1695.597	2155.975	1388.879
(c) Other current liabilities	221.796	268.138	1190.784
(d) Short-term provisions

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)