1. Summary Information
|
|
|
Country |
|
|
Company Name |
AUTOLIV INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Suresh Nandagopal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Chang Ket Leong |
|
|
|
Registration # |
08-056723 (New) 55-108041 (Old) |
|
Street Address |
Survey No.80/3, Chokkahalli Village, Doddalluru Gram Panchayat,
Bangalore Rural, Hoskote Industrial Estate, Bangalore – 562 114, Karnataka,
India |
||
|
Established Date |
05.10.2000 |
SIC Code |
-- |
|
Telephone# |
91-80-30601300 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-80-30601430 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Integrated Safety Systems |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 50,112,850/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings – 100% |
Banking |
Mizuho Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
14 Year |
|
IPO |
No |
International Ins. |
-- |
|
Public Enterprise |
No |
Rating |
Ba (42) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
Sweden |
Autoliv AB |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,111,438,000 |
Current Liabilities |
1,303,011,000 |
|
Inventories |
418,854,000 |
Long-term Liabilities |
451,351,000 |
|
Fixed Assets |
790,697,000 |
Other Liabilities |
43,248,000 |
|
Deferred Assets |
23,134,000 |
Total Liabilities |
1,797,610,000 |
|
Invest& other Assets |
633,275,000 |
Retained Earnings |
1,129,675,000 |
|
|
|
Net Worth |
1,179,788,000 |
|
Total Assets |
2,977,398,000 |
Total Liab. & Equity |
2,977,398,000 |
|
Total Assets (Previous Year) |
2,694,351,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Total Income |
4,864,835,000 |
Net Profit |
8,610,000 |
|
Total Income (Previous yr) |
4,875,205,000 |
Net Profit
/ (Loss) (Prev.yr) |
189,322,000 |
MIRA INFORM REPORT
|
Report Date : |
26.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
AUTOLIV INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.80/3, Chokkahalli Village, Doddalluru Gram Panchayat,
Bangalore Rural, Hoskote Industrial Estate, Bangalore – 562 114, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.10.2000 |
|
|
|
|
Com. Reg. No.: |
08-056723 (New) 55-108041 (Old) |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.113
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300KA2000PTC056723 (New) U34300DL2000PTC108041 (Old) |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA6222E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Integrated Safety Systems for Major Automotive
Manufacturers. |
|
|
|
|
No. of Employees
: |
Information decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profit of the company has declined during financial year 2014. However, general financial position of the company seems to be sound
and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for 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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains revenue
guidance. COO Rao says attrition still an area of concern and it would take a
few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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-Cooperative (Tel. No. 91-80-30601300)
LOCATIONS
|
Registered Office Corporate Office 1/ Factory 1 : |
Survey No.80/3, Chokkahalli Village, Doddalluru Gram Panchayat,
Bangalore Rural, Hoskote Industrial Estate, Bangalore – 562 114, Karnataka,
India |
|
Tel. No.: |
91-80-27971250/ 51/ 53/ 54/ 55/ 57/ 30601300 |
|
Fax No.: |
91-80-30601430 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 2/ Head Office/ Factory 2 : |
16, Visveswaraiah Industrial Estate, 1st Main Road, Off Whitefield
Road, Mahadevapura, Bangalore – 560 048, Karnataka, India |
|
Tel. No.: |
91-80-30586300/ 6267 |
|
Fax No.: |
91-80-30586302 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
Plot 203, Sector 4, IMT, Manasar Gurgaon – 122 050, Haryana, India. |
|
Tel. No.: |
91-124-4768700 |
|
Fax No.: |
91-124-4768724 |
|
|
|
|
Factory 4 : |
Shed No.76/78 SIDCO Industrial Estate, Thirumazhisai Poonamalle Taluk,
Thiruvallur, Chennai – 602 107, Tamilnadu, India |
|
Tel. No.: |
91-44-26811847 |
|
Fax No.: |
91-44-26844846 |
|
|
|
|
Factory 5 : |
Plot No.44, |
|
Tel. No.: |
91-421-3021419/ 21 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Suresh Nandagopal |
|
Designation : |
Nominee Director |
|
Address : |
# 145, Prestige Ozone, Whitefield, Hagadur Village, Bangalore – 560
006, Karnataka, India |
|
Date of Birth/Age : |
14.01.1970 |
|
Date of Appointment : |
15.09.2010 |
|
DIN No.: |
03245760 |
|
|
|
|
Name : |
Mr. Chang Ket Leong |
|
Designation : |
Director |
|
Address : |
No.26, Building in Rancho Santafe on 333 Long Jinhui Road, Shanghai
201107 |
|
Date of Birth/Age : |
14.02.1964 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
05344642 |
|
|
|
|
Name : |
Mr. Devanand Achuthan |
|
Designation : |
Director |
|
Address : |
No.L5, Chaithanya Samarpan, Kannamangala Village, Bangalore – 560 067,
Karnataka, India |
|
Date of Birth/Age : |
19.05.1974 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06446956 |
|
|
|
|
Name : |
Mr. Hans Niclas Claesson Nelson |
|
Designation : |
Director |
|
Address : |
Sveavagen 20 A, 182 60 Djursholm, Stockholm 18260 |
|
Date of Birth/Age : |
31.03.1964 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06510932 |
|
|
|
|
Name : |
Mr. Per Holst Nielsen |
|
Designation : |
Director |
|
Address : |
No.163, Lane 258, Gaojing Rd., Xujing Town, Shanghai 201702 |
|
Date of Birth/Age : |
06.11.1964 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
06546590 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Autoliv |
5011283 |
|
Autoliv East Europe AB, |
1 |
|
Autoliv Asia ROH Company Limited, |
1 |
|
Total |
5011285 |
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 of Integrated Safety Systems for Major Automotive
Manufacturers. |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information decline by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Mizuho Bank Limited |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
SECURED LOANS
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
UB City, Canberra Block, 12th and 13th Floor, No.24, Vittal Mallya
Road, Bangalore – 560 001, Karnataka, India |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Holding Company: |
·
Autoliv AB, Sweden |
|
|
|
|
Fellow Subsidiaries: |
·
Autoliv ASP, Inc. ·
Autoliv Australia Pty Limited ·
N.C.S. Pyrotechnie et Technologies SAS ·
Nanjing Hongguang Autoliv Vehicle Safety Systems
Company Limited ·
Autoliv (China) Inflators ·
P.T. Autoliv Indonesia ·
Autoliv ATC ·
Autoliv Japan Limited ·
Autoliv Do Brasil Limited ·
Autoliv Romania -Iro Inflators division ·
Autoliv B.V. & CompanyKG, Germany ·
Autoliv (China) Steering Wheel Company, Limited ·
Autoliv (Shanghai) Vehicle Safety Systems Company
Limited ·
Taicang VOA Shenda Special Type Textile Products
Company Limited ·
Autoliv (China) Electronics Company, Limited ·
VOA Canada, Inc. ·
Autoliv North America ·
Autoliv Development AB ·
Van Oerle Alberton BV ·
Livbag, SAS ·
Autoliv Asia ROH Company Limited, Thailand ·
Autoliv Corporation, Korea ·
Autoliv (Shanghai) Vehicle Safety Systems Technical
Center Company, Limited ·
Autoliv Electronics Asia Pacific |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5011285 |
Equity Shares |
Rs.10/- each |
Rs.50.113
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
50.113 |
50.113 |
|
(b) Reserves & Surplus |
|
1129.675 |
0.000 |
|
(c) Money
received against share warrants |
|
0.000 |
1121.065 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1179.788 |
1171.178 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
271.351 |
248.646 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
39.010 |
0.000 |
|
(d) long-term provisions |
|
28.389 |
7.734 |
|
Total Non-current Liabilities (3) |
|
338.750 |
256.380 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
180.000 |
60.000 |
|
(b) Trade payables |
|
1189.837 |
1072.532 |
|
(c) Other current
liabilities |
|
74.164 |
103.476 |
|
(d) Short-term provisions |
|
14.859 |
30.785 |
|
Total Current Liabilities (4) |
|
1458.860 |
1266.793 |
|
|
|
|
|
|
TOTAL |
|
2977.398 |
2694.351 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
769.776 |
669.121 |
|
(ii) Intangible Assets |
|
20.921 |
18.472 |
|
(iii) Capital
work-in-progress |
|
85.380 |
130.435 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
23.134 |
3.887 |
|
(d) Long-term Loan and Advances |
|
547.844 |
431.495 |
|
(e) Other Non-current assets |
|
0.051 |
0.475 |
|
Total Non-Current Assets |
|
1447.106 |
1253.885 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
418.854 |
513.334 |
|
(c) Trade receivables |
|
797.475 |
635.351 |
|
(d) Cash and cash
equivalents |
|
49.744 |
36.378 |
|
(e) Short-term loans and
advances |
|
264.193 |
255.403 |
|
(f) Other current assets |
|
0.026 |
0.000 |
|
Total Current Assets |
|
1530.292 |
1440.466 |
|
|
|
|
|
|
TOTAL |
|
2977.398 |
2694.351 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
50.113 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
931.743 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
981.856 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
209.167 |
|
|
TOTAL BORROWING |
|
|
209.167 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1191.023 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
349.240 |
|
|
Capital work-in-progress |
|
|
329.444 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
23.052 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
456.157
|
|
|
Sundry Debtors |
|
|
603.569
|
|
|
Cash & Bank Balances |
|
|
65.278
|
|
|
Other Current Assets |
|
|
0.017
|
|
|
Loans & Advances |
|
|
480.720
|
|
Total
Current Assets |
|
|
1605.741
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1016.770
|
|
|
Other Current Liabilities |
|
|
76.480
|
|
|
Provisions |
|
|
23.204
|
|
Total
Current Liabilities |
|
|
1116.454 |
|
|
Net Current Assets |
|
|
489.287
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1191.023 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Operating Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
4864.835 |
4875.205 |
4694.108 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
4875.473 |
4624.008
|
4304.394 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(10.638) |
251.197 |
389.714 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(19.248) |
61.875 |
95.980 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.610 |
189.322 |
293.734 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1006.755 |
817.433 |
523.699 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1015.365 |
1006.755 |
817.433 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
F.O.B. value of Exports |
326.327 |
198.389 |
58.220 |
|
|
|
Engineering Income |
|
|
59.915 |
|
|
TOTAL EARNINGS |
326.327 |
198.389 |
118.135 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
|
|
148.566 |
|
|
|
Raw Materials |
|
|
1394.097 |
|
|
|
Capital Goods |
|
|
143.788 |
|
|
TOTAL IMPORTS |
NA |
NA |
1686.451 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
86.09 |
37.78 |
58.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.18 |
3.88 |
6.26
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.37) |
9.81 |
19.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.21 |
0.40
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/ Networth) |
|
0.38 |
0.26 |
0.21
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.14 |
1.44
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
50.113 |
50.113 |
|
Reserves & Surplus |
0.000 |
1129.675 |
|
Money received against share warrants |
1121.065 |
0.000 |
|
Net
worth |
1171.178 |
1179.788 |
|
|
|
|
|
long-term borrowings |
248.646 |
271.351 |
|
Short term borrowings |
60.000 |
180.000 |
|
Total
borrowings |
308.646 |
451.351 |
|
Debt/Equity
ratio |
0.264 |
0.383 |
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 |
4694.108 |
4875.205 |
4864.835 |
|
|
|
3.858 |
(0.213) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
4694.108 |
4875.205 |
4864.835 |
|
Profit |
293.734 |
189.322 |
8.610 |
|
|
6.26% |
3.88% |
0.18% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
Note : The registered office of the company has been again shifted from 16, Visveswaraiah Industrial Estate, 1st Main Road, Off Whitefield Road, Mahadevapura, Bangalore – 560 048, Karnataka, India to the present address w.e.f. 14.07.2011
UNSECURED LOANS
|
Particulers |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Term loans |
|
|
|
Foreign currency loan from Autoliv AB* (Foreign currency
loan from Autoliv AB carries interest as per Autoliv Prime Rate as at the
first day of relevant interest period. The loan was repayable in full by
September 30, 2011, but has been renewed till September 30, 2015.) (The Company does not have any continuing defaults in repayment of
loans and interest as at the reporting date.) |
264.958 |
248.646 |
|
Other Loans and advances from others |
6.393 |
0.000 |
|
Total
|
271.351 |
248.646 |
NOTES:
|
Long-term
borrowings |
(Rs. In Millions) |
|||||
|
Non-current |
Current |
|||||
|
March 31, 2013 |
March 31, 2013 |
March 31, 2013 |
March 31, 2013 |
|||
|
Term loans Unsecured Foreign currency loan from Autoliv AB* |
264.958 |
248.646 |
-- |
-- |
||
|
Other loans and advances, Unsecured Finance lease obligations** |
6.393 |
--- |
2.999 |
--- |
||
|
Less: Amount disclosed under the head 'Other current liabilities' |
--- |
--- |
(2.999) |
--- |
||
|
Total |
271.351 |
248.646 |
--- |
--- |
||
|
* Foreign currency loan from Autoliv AB carries interest as per Autoliv Prime Rate as at rate of 0.75% - 1.10%. The loan is repayable in full by September 30, 2015. The Company does not have any continuing defaults in repayment of loans and interest as at the reporting date. **Finance lease obligations relate to vehicles purchased under financing arrangement. The loans are repayable over a period of 3 to 4 years, along with interest at the rate of 11.5%. |
||||||
|
|
||||||
|
SHORT-TERM BORROWINGS,
UNSECURED |
March 31, 2013 |
March 31, 2013 |
||||
|
Working capital demand loan from Mizuho Bank |
180.000 |
60.000 |
||||
|
Total |
180.000 |
60.000 |
||||
|
Autoliv AB, the holding company has given corporate guarantee for working capital facility from Mizuho Bank. The facility is repayable on demand and carries interest @ 8.15% to 10.9% p.a. |
||||||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90250498 |
26/02/2002 |
2,635,000.00 |
FORD INDIA |
CHENNAI, CHENNAI, TAMIL NADU, INDIA |
- |
|
2 |
90250018 |
11/04/1997 * |
38,000,000.00 |
STATE BANK OF MYSORE |
INDUSTRIAL FINANCE BRANCH, BANGALORE, KARNATAKA, INDIA |
- |
* Date of charge modification
OPERATIONS:
During the financial year the Company’s total income was Rs. 4865.000 Millions as against Rs. 4875.000 Millions achieved in the previous year. The Profit after tax was Rs. 86.000 Millions for the year against the profit of Rs. 1890.000 Millions for the previous year. The drop in profit mainly on account of product development cost incurred for Hyundai and MSIL projects, we expect the revenue from 2013-14 onwards and exchange loss on account rupee depreciation. The Company won the first order from Honda, with this we would have business relationship with all major OEMs
Further, Macro Economic indicators are not very encouraging lately; and market is going through turbulent time as OEMS (car manufacturers) have reduced volume and delayed new launches. Despite the challenging times, your directors continue to focus on strengthening the operations by optimizing utilization of assets and trimming costs to emerge stronger from this turbulence.
FIXED ASSETS:
Tangible Assets
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Testing Equipments
·
Tools
·
Electrical Fittings
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
·
Computers Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.02 |
|
|
1 |
Rs. 99.42 |
|
Euro |
1 |
Rs. 77.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
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 |
|
42 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.