1. Summary Information
|
Country |
India |
||
|
Company Name |
HYUNDAI
CONSTRUCTION EQUIPMENT INDIA PRIVATE LIMITED |
Principal Name 1 |
Bosun Choi |
|
Status |
Moderate |
Principal Name 2 |
Ki Young Kong |
|
Registration # |
11-130553 |
||
|
Street Address |
Plot No. A-2, MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501,
Maharashtra, India |
||
|
Established Date |
18.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-2135-301700 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-2135-301712 / 301863 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Excavators |
|
|
# of employees |
400 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs.2,584,364,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
HSBC Bank |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B
(36) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Korea |
Hyundai Heavy
Industries Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,850,226,000 |
Current Liabilities |
3,728,438,000 |
|
Inventories |
3,080,261,000 |
Long-term Liabilities |
3,582,660,000 |
|
Fixed Assets |
2,263,845,000 |
Other Liabilities |
333,563,000 |
|
Deferred Assets |
0 |
Total Liabilities |
7,644,661,000 |
|
Invest& other Assets |
1,934,000 |
Retained Earnings |
(2,032,759,000) |
|
|
|
Net Worth |
551,605,000 |
|
Total Assets |
8,196,266,000 |
Total Liab. & Equity |
8,196,266,000 |
|
Total Assets (Previous Year) |
7,675,943,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales/ Gross Income |
8,135,614,000 |
Net Profit |
(1,017,056,000) |
|
Sales(Previous yr)/ Gross Income |
8,077,115,000 |
Net Profit(Prev.yr) |
(472,425,000) |
MIRA INFORM REPORT
|
Report Date : |
26.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
HYUNDAI CONSTRUCTION EQUIPMENT INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-2, MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.06.2007 |
|
|
|
|
Com. Reg. No.: |
11-130553 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2584.364
Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U45400PN2007FTC130553 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEH05576E MUMH10638F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH8756Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Importer of Excavators. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Hyundai Heavy Industries
Company Limited”. It is a well established company having a moderate track record. There
seems huge accumulated losses recorded by the company which seems to be
increasing. However, the capital base of the company seems to be strong. The
company gets good support from its group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered form business dealings with slight
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from
$31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A (Long Term Rating) |
|
Rating Explanation |
Crisil has suspended its rating due to lack of information. |
|
Date |
November 2012 |
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 Co-operative.
Tel. No.: 91-2135-301700
LOCATIONS
|
Registered / Head Office / Factory : |
Plot No. A-2, MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501,
Maharashtra, India |
|
Tel. No.: |
91-2135-301700 |
|
Fax No.: |
91-2135-301712 / 301863 / 301711 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
50 Acre |
|
Location : |
Leased |
|
|
|
|
Regional Office : |
LOCATED AT:
|
DIRECTORS
As on: 30.09.2013
|
Name : |
Ki Young Kong |
|
Designation : |
Managing director |
|
Address : |
Hyundai Construction Equipment India Private Limited, Plot No. A-2,
MIDC Chakan, Phase–II, Village Khalumbre, Pune-410501, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1962 |
|
Qualification : |
Bachelor of Commerce |
|
Experience : |
26 Years |
|
Date of Appointment : |
01.01.2012 |
|
PAN No.: |
AVJPK3849B |
|
DIN No.: |
05158355 |
|
|
|
|
Name : |
Bosun Choi |
|
Designation : |
Director |
|
Address : |
1 Gang Seon Maul 1902-705 98, Juyeop-Dong I Sanseo-Gu, Gyeonaggi-Do,
Goyang |
|
Date of Birth/Age : |
28.02.1966 |
|
Qualification : |
Business Administration |
|
Experience : |
24 Years |
|
Date of Appointment : |
17.06.2011 |
|
PAN No.: |
ARZPC2332F |
|
DIN No.: |
03553597 |
KEY EXECUTIVES
|
Name : |
Ms. Asawari Avinash Tilak |
|
Designation : |
Secretary |
|
Address : |
A-9, Ganga Lahari Society, Ganesh Nagar, Pune-411052, Maharashtra,
India |
|
Date of Birth/Age : |
01.03.1985 |
|
Date of Appointment : |
01.10.2010 |
|
PAN No.: |
AFSPT4547E |
MAJOR SHAREHOLDERS
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hyundai Heavy Industries Company Limited,
Korea |
|
31184635 |
|
Ki Young Kong |
|
1 |
|
Total |
|
31184636 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
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, Trader and Importer of Excavators |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
|
|
|
|
Bankers : |
·
HSBC Bank, Ban Garden Road ·
Axis Bank |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B B S R and Company Chartered Accountants |
|
Address : |
703, Godrej Castlemaine, Next Toruby Hall Clinic, Bund Garden Road |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Holding Company: |
Hyundai Heavy Industries Company Limited,
Korea |
|
|
|
|
Other related parties
with whom transactions have taken place during the period : |
|
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.100/- each |
Rs.3200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31184636 |
Equity Shares |
Rs.100/-
each |
Rs.3118.464
Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.100/- each |
Rs.3200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25843636 |
Equity Shares |
Rs.100/-
each |
Rs.2584.364
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
2,584.364 |
|
(b) Reserves & Surplus |
|
|
(2,032.759) |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
551.605 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
35.395 |
|
Total
Non-current Liabilities (3) |
|
|
35.395 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
3,582.660 |
|
(b) Trade payables |
|
|
3,600.674 |
|
(c) Other current liabilities |
|
|
333.563 |
|
(d) Short-term provisions |
|
|
92.369 |
|
Total
Current Liabilities (4) |
|
|
7,609.266 |
|
|
|
|
|
|
TOTAL |
|
|
8,196.266 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
2,234.890 |
|
(ii) Intangible Assets |
|
|
28.955 |
|
(iii) Capital work-in-progress |
|
|
1.934 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
748.312 |
|
(e) Other Non-current assets |
|
|
27.525 |
|
Total
Non-Current Assets |
|
|
3,041.616 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
3,080.261 |
|
(c) Trade receivables |
|
|
1,818.947 |
|
(d) Cash and cash equivalents |
|
|
74.313 |
|
(e) Short-term loans and
advances |
|
|
143.900 |
|
(f) Other current assets |
|
|
37.229 |
|
Total
Current Assets |
|
|
5,154.650 |
|
|
|
|
|
|
TOTAL |
|
|
8,196.266 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2584.364 |
2076.214 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(1015.704) |
(543.279) |
|
|
NETWORTH |
|
1568.660 |
1532.935 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
1963.840 |
2038.518 |
|
|
TOTAL BORROWING |
|
1963.840 |
2038.518 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3532.500 |
3571.453 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2059.357 |
1965.253 |
|
|
Capital work-in-progress |
|
0.721 |
4.662 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2915.686
|
1902.754
|
|
|
Sundry Debtors |
|
2011.762
|
1675.814
|
|
|
Cash & Bank Balances |
|
57.110
|
173.861
|
|
|
Other Current Assets |
|
84.278
|
1.956
|
|
|
Loans & Advances |
|
547.029
|
353.946
|
|
Total
Current Assets |
|
5615.865
|
4108.331
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
3692.201
|
2216.237
|
|
|
Other Current Liabilities |
|
330.952
|
224.493
|
|
|
Provisions |
|
120.290
|
66.063
|
|
Total
Current Liabilities |
|
4143.443
|
2506.793
|
|
|
Net Current Assets |
|
1472.422
|
1601.538
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3532.500 |
3571.453 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
8135.614 |
8077.115 |
5470.263 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
NA |
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(671.484) |
183.400 |
254.945 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
161.253 |
132.813 |
125.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(832.737) |
50.587 |
129.538 |
|
|
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/ AMORTISATION |
184.319 |
523.012 |
113.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(1017.056) |
(472.425) |
16.120 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(1017.056) |
(472.425) |
16.120 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1015.703) |
(543.278) |
(559.398) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2032.759) |
(1015.703) |
(543.278) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(39.35) |
(18.28) |
0.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(12.50)
|
(5.85)
|
0.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.41)
|
(6.16)
|
0.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.84)
|
(0.30)
|
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.49
|
1.25
|
1.33
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68
|
1.36
|
1.64
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
|
2,584.364 |
2,584.364 |
|
Reserves & Surplus |
|
(1,015.704) |
(2,032.759) |
|
Net
worth |
|
1,568.660 |
551.605 |
|
|
|
|
|
|
long-term borrowings |
|
158.444 |
0.000 |
|
Short term borrowings |
|
1,805.396 |
3,582.660 |
|
Total
borrowings |
|
1,963.840 |
3,582.660 |
|
Debt/Equity
ratio |
|
1.252 |
6.495 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Gross Income |
5,470.263 |
8,077.115 |
8,135.614 |
|
|
|
47.655 |
0.724 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Gross Income |
5,470.263 |
8,077.115 |
8,135.614 |
|
Profit After Tax |
16.120 |
(472.425) |
(1,017.056) |
|
|
0.29% |
(5.85%) |
(12.50%) |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE OVERVIEW:
Subject is a
subsidiary of Hyundai Heavy Industries, Korea, is rewriting the story of
Construction Equipment business in India. Hyundai products are widely accepted
in the CE market and command a market share of over 20 percent. Today more than
6000 satisfied customers are being catered through 120 touch points mapping the
entire country from North to South and East to West. Hyundai with its recently
launched 9 series technology has even progressed ahead by offering customers
smarter options to manage their equipment and also increase their profit
margin.
Today, Hyundai
boasts of a wide product range from mini-excavator to 120T excavator and Wheel
Loader in the range of 3T to 5T. The small tonnage excavators comprise of the R80-7,
R110-7 and R140LC-9. The R140LC-9 excavator is leading the segment and is
poised to be the leader in its segment soon. The mid-range excavators comprise
of R210-7, R220LC-7 its variants, R220LC-9 and R340LC-7. The bigger tonnage
excavators comprise of R500LC-7 Mining, R800LC-9 and R1200-9 are soon gaining
ground.
Set up over a 50
acre land at Chakan near Pune in Maharashtra in a lush green surrounding, the
state of the art manufacturing facility boasts of best in class technology,
churning out world class products. It has manufacturing capacity of over 3500
units per annum.
Headquartered in
Pune with four Regional Offices at Delhi, Calcutta, Hyderabad and Mumbai, the
Sales, Service and Spares centers ensure customers are always a priority and
live up to Hyundai’s true spirit “Customer Delight.”
UNSECURED LOAN:
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loans from banks |
0.000 |
16.657 |
|
Foreign currency term loans from banks |
0.000 |
141.787 |
|
SHORT TERM
BORROWING |
|
0 |
|
Working capital loans from banks |
2842.660 |
1753.994 |
|
Loans repayable on demand |
740.000 |
51.402 |
|
Total |
3582.660 |
1963.840 |
Note :
Long Term
Borrowings
Buyers Credit Rs.
1227.951 Millions
Bank overdraft
Rs.1339.659 Millions
Packing Credit
Rs.275.050 Millions
Buyers credit and
packing credit facilities from banks carry an average interest rate of 1% to 5%
per annum and these are payable in foreign currency. Bank overdraft and working
capital demand loan from banks carry an average interest rate of 10.50% to
13.50%
1) The Company has
obtained External Commercial Borrowing ('ECB') from HSBC Mauritius to the
extent of USD 10,000,000 @ 6 M LIBOR + margin (0.9%p.a.). The ECB loan is
repayable in 3 equal annual installments beginning 28 Apr 2011. A simultaneous
SWAP contract was entered for an equal amount which converts the USD floating
rate loan to Fixed rate INR. Foreign currency term loans from banks carry
interest ranging from 6.10% p.a. to 8.45% p.a. The ECB was repaid on 29 Apr
2013.
2) Term loan from
banks in Indian Rupees carry interest rate of 12.50% p.a. The term loan is for
a period of 5 years. The loan is payable in six monthly installments.
3) Long term and
short term borrowings are covered by Corporate Guarantee provided by Hyundai
Heavy Industries Company Limited, the Holding Company.
Short Term
Borrowings
Buyers credit and
packing credit facilities from banks carry an average interest rate of 1% to 5%
per annum and these are payable in foreign currency. Bank overdraft and working
capital demand loan from banks carry an average interest rate of 10.50% to
13.50%.
FIXED ASSETS:
- Plant and
Machinery
- Office
Equipment
- Computer
- Furniture and
Fixtures
- Vehicles
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.60.70 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.