MIRA INFORM REPORT
|
Report No. : |
336131 |
|
Report Date : |
12.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
TAKATA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, Building
No.10159, Padam Singh Road , Karol Bagh, New Delhi – 110005 |
|
Tel. No.: |
91-11-28755214 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.06.2007 |
|
|
|
|
Com. Reg. No.: |
55-164995 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1744.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32102DL2007FTC164995 |
|
|
|
|
IEC No.: |
0508022762 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELT07367D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT7200N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Assembling of Automotive Airbag Modules,
Seat Belts and Steering Wheels. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 980000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss from its operations during 2014. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealing with some cautions.
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Jeetendra Kumar |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9910333454 |
|
Date : |
11.08.2014 |
LOCATIONS
|
Registered Office : |
303, Building
No.10159, |
|
Tel. No.: |
91-11-28755214 |
|
Mobile No.: |
91-9910333454 (Mr. Jeetendra Kumar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Unit No.506, Spazedge, 5th Floor, Tower B, Spaze Building,
Sector-47, Gurgaon-Sohna Road, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4289603 |
|
Fax No.: |
91-124-4289604 |
|
|
|
|
Neemrana Plant : |
SP2-48 to 51, New Industrial Complex, Majarakath, Neemrana, Alwar –
301705, |
|
Tel. No.: |
91-124-4289603 |
|
Fax No.: |
91-124-4289604 |
|
|
|
|
Chennai Plant : |
Survey No.43/4, 215-Thennur Village, Ammanambakkam Post, Chengalpattu
Taluk, Kancheepuram District – 603002, Tamilnadu, India |
|
Tel. No.: |
91-44-27421312 |
|
Fax No.: |
91-44-27420921 |
|
|
|
|
Warehouse : |
Located at: v
Noida |
DIRECTORS
AS ON 19.09.2014
|
Name : |
Mr. Tsutomu Miyama |
|
Designation : |
Managing director |
|
Address : |
91, Westend Heights, DLF Phase 5, Gurgaon - 122001,
Haryana, India |
|
Date of Birth/Age : |
27.10.1976 |
|
Date of Appointment : |
08.01.2014 |
|
DIN No.: |
06782300 |
|
|
|
|
Name : |
Mr. Daniel Cho Fai Yip |
|
Designation : |
Director |
|
Address : |
7, Holt Road # 07 - 04, Singapore, 249445, Singapore |
|
Date of Birth/Age : |
10.10.1959 |
|
Date of Appointment : |
20.06.2007 |
|
DIN No.: |
01871694 |
|
|
|
|
Name : |
Mr. Deepak Chopra |
|
Designation : |
Nominee director |
|
Address : |
H. No. 7 and 8, Anfilco Housing Colony, Anand Farm, Palam
Gurgaon Road, Dundahera, Gurgaon - 122016, Haryana, India |
|
Date of Birth/Age : |
25.12.1954 |
|
Date of Appointment : |
29.05.2014 |
|
DIN No.: |
00028770 |
|
|
|
|
Name : |
Mr. Seshadri Sarathi |
|
Designation : |
Nominee director |
|
Address : |
G 1, Srinivasa, No. 2, 77th Street, Ashok Nagar, Chennai -
600083, Tamilnadu, India |
|
Date of Birth/Age : |
05.03.1968 |
|
Date of Appointment : |
26.03.2003 |
|
DIN No.: |
01639258 |
|
|
|
|
Name : |
Mr. Mahendra Kumar Goyal |
|
Designation : |
Nominee director |
|
Address : |
18, Anand Farm, 25.3km Palam Gurgaon Road,, Shri Krishna Chowk,
Sector - 22, Gurgaon - 122016, Haryana, India |
|
Date of Appointment : |
30.06.2015 |
|
DIN No.: |
02605616 |
|
|
|
|
Name : |
Mr. Hikoto Watanabe |
|
Designation : |
Nominee director |
|
Address : |
1-55-17-304, Funabashi, Stagaya-Ku, Tokyo, 1560055, Japan |
|
Date of Appointment : |
19.12.2014 |
|
DIN No.: |
07046930 |
|
|
|
|
Name : |
Mr. Takao Yasuhara |
|
Designation : |
Additional director |
|
Address : |
Sun Park Abiko Ekimae, 1-1-8-603, Abiko, Abiko Shi, Chiba
Japan, Chiba, 2701192, Japan |
|
Date of Appointment : |
16.02.2015 |
|
DIN No.: |
07098506 |
KEY EXECUTIVES
|
Name : |
Mr. Ramakrishnan Janakiraman |
|
Designation : |
Secretary |
|
Address : |
Pallav Madhava, 13/535, 20th Street, IV Sector, K. K
Nagar, Chennai - 600078, Tamilnadu, India |
|
Date of Appointment : |
29.05.2014 |
|
PAN No: |
ACYPJ9552G |
|
|
|
|
Name : |
Mr. Jeetendra Kumar |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.09.2014
|
Names of Shareholders |
No.
of Shares |
%age
holding |
|
Asia Investments Private Limited, |
43600000 |
25.00 |
|
Takata International Finance B.V., Netherlands |
130800000 |
75.00 |
|
Total |
174,400,000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 19.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
75.00 |
|
Bodies corporate |
25.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Assembling of Automotive Airbag Modules,
Seat Belts and Steering Wheels. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30,60,90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30,60,90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
600 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
Golf View, Corporate Tower B, Near DLF Golf Course, Gurgaon - 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
|
|
|
|
|
Ultimate Holding
Company: |
|
|
|
|
|
Joint Venture: |
|
|
|
|
|
Fellow
Subsidiaries: |
|
|
|
|
|
Related Parties of
Joint Venture |
|
CAPITAL STRUCTURE
AS ON 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
280000000 |
Equity Shares |
Rs.10/- each |
Rs. 2800.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
174400000 |
Equity Shares |
Rs.10/- each |
Rs. 1744.000
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs. 1800.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
174400000 |
Equity Shares |
Rs.10/- each |
Rs. 1744.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1744.000 |
1744.000 |
800.000 |
|
(b) Reserves & Surplus |
(1400.849) |
(1108.020) |
(788.600) |
|
(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) |
343.151 |
635.980 |
11.400 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
197.720 |
401.709 |
763.125 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
645.000 |
645.000 |
645.000 |
|
(d) long-term provisions |
3.172 |
2.429 |
3.754 |
|
Total
Non-current Liabilities (3) |
845.892 |
1049.138 |
1411.879 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
662.520 |
400.083 |
331.882 |
|
(b) Trade payables |
720.454 |
587.349 |
448.264 |
|
(c) Other current liabilities |
279.135 |
254.193 |
545.574 |
|
(d) Short-term provisions |
13.895 |
19.147 |
0.243 |
|
Total
Current Liabilities (4) |
1676.004 |
1260.772 |
1325.963 |
|
|
|
|
|
|
TOTAL |
2865.047 |
2945.890 |
2749.242 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1414.456 |
1384.862 |
1390.338 |
|
(ii) Intangible Assets |
3.772 |
9.308 |
9.661 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
463.358 |
394.105 |
238.611 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1881.586 |
1788.275 |
1638.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
353.022 |
457.156 |
372.721 |
|
(c) Trade receivables |
468.415 |
468.852 |
319.484 |
|
(d) Cash and cash equivalents |
46.235 |
55.688 |
218.075 |
|
(e) Short-term loans and
advances |
105.058 |
154.618 |
189.355 |
|
(f) Other current assets |
10.731 |
21.301 |
10.997 |
|
Total
Current Assets |
983.461 |
1157.615 |
1110.632 |
|
|
|
|
|
|
TOTAL |
2865.047 |
2945.890 |
2749.242 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Gross Turnover |
2899.200 |
2315.400 |
1580.000 (Net
Sales) |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(73.600) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
24.900 |
24.700 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(98.500) |
(170.500) |
NA |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
194.300 |
169.200 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(292.800) |
(339.700) |
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(292.800) |
(339.700) |
(510.100) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
96.666 |
43.829 |
NA |
|
|
TOTAL
EARNINGS |
96.666 |
43.829 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1514.104 |
1381.013 |
NA |
|
|
Capital Goods |
71.210 |
25.266 |
NA |
|
|
TOTAL
IMPORTS |
1585.314 |
1406.279 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.02) |
(1.95) |
(6.38) |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
3000.000 |
The above information has been parted by Mr. Jeetendra Kumar
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
245.652 |
222.569 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
151.529 |
(363.820) |
31.652 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.22) |
(11.53) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.85) |
(0.53) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.22 |
1.61 |
96.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.59 |
0.92 |
0.84 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
800.000 |
1744.000 |
1744.000 |
|
Reserves & Surplus |
(788.600) |
(1108.020) |
(1400.849) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
11.400 |
635.980 |
343.151 |
|
|
|
|
|
|
long-term borrowings |
763.125 |
401.709 |
197.720 |
|
Short term borrowings |
331.882 |
400.083 |
662.520 |
|
Total
borrowings |
1095.007 |
801.792 |
860.240 |
|
Debt/Equity
ratio |
96.053 |
1.261 |
2.507 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Turnover |
1580.000 |
2315.400 |
2899.200 |
|
|
|
46.544 |
25.214 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Gross Turnover |
1580.000 |
2315.400 |
2899.200 |
|
Profit |
(510.100) |
(339.700) |
(292.800) |
|
|
(32.28%) |
(14.67%) |
(10.10%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CHANGE OF ADDRESS: The registered office of the company has been shifted from 2nd Floor, B - 7/7, Safdarjang Enclave, New Delhi – 110029 to the present address w.e.f. 01.07.2008.
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
ECONOMIC SCENARIO/
INDIAN AUTOMOTIVE INDUSTRY
In India, the economy grew at its slowest rate in a decade with GDP growth estimated to be 4,7%. Political uncertainties, high interest rate consequent to high inflation and poor market sentiment resulted in depressed market conditions. As a result of these developments, the demand for auto components suffered leading to low utilization of capacities, under absorption of fixed costs and consequently drop in profitability.
For the Company in particular, the adverse factors in the automobile industry impacted its performance considerably. Despite that, the Company could show an increase in sales by 25%. This was made possible due to continued focus on new business opportunities from the existing and new customers.
During the year, the Company has continued to pursue new business developments and opportunities. They are glad to report that additional business has been secured for one or more of the products, namely, seat belts, steering wheels, DAB, and PAB from the Company's two main customers, namely, Honda and Renault -Nissan. The Company was also able to secure business for Hyundai Mobis, Toyota, Maruti Suzuki and Mitsubishi.
DEVELOPMENTS
CONCERNING THE COMPANY
The Company's main manufacturing Plant at Thenur near Chennai has continued to be the mainstay of production during the year. QCC activities in this Plant, undertaken on a systematic and continuous basis, showed very satisfactory results. The Company's second Plant at Neemrana (Rajasthan) has been meeting the requirements of Honda and exports to Takata, Indonesia.
The R and D Center in Chennai Plant has high degree of engineering and technical skills and serve the needs of Indian operations as well as Asian region.
COMMERCIAL OPERATIONS
During the year, Net Sales of the Company were Rs. 2,593.000 million, which compared with Rs. 2,071.000 million in the previous year, show an increase of 25 %. Sales to Honda showed an increase in volumes but there is a substantial volume drop from customers, Nissan and Ashok Leyland.
During the year, Net Loss of the Company was Rs. 292.800 million compared with Rs. 339.700 million in the previous year. Apart from volume drop, higher raw material costs coupled with foreign exchange differences due to weakening of Indian Rupee are the main reasons for increased losses. Provisioning for higher depreciation and amortization also accounted for increased losses.
Management has initiated and is continuously reviewing steps to curtail raw material costs and other expenses. Considering huge losses, Takata International Finance B.V. granted a relief of Rs. 84.000 million by clearing the outstanding of one of the major supplier.
The Company continue to make efforts to increase the export sales so as to offer natural hedging for high level of imports.
NATURE OF OPERATIONS
Subject was incorporated on June 20, 2007. The Company is into manufacturing and assembling of automotive airbag modules, seat belts and steering wheels. The Company has its manufacturing facility at Thenur village, Chennai and at Neemrana, Rajasthan and its head office is in Neemrana w.e.f. 01-11-2013 (Earlier in Gurgaon up to 31-10-2013).
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Foreign currency term loans from banks |
0.000 |
162.855 |
|
Other external commercial borrowings |
197.720 |
238.854 |
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
662.520 |
400.083 |
|
Total |
860.240 |
801.792 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
The Company is currently under litigation against the order of Assessing Officer in relation to transfer pricing additions for Assessment year 2009-10. The Company has filed an appeal before the CIT(Appeals). |
18.582 |
0.000 |
|
The Company is currently under litigation against the draft order of Assessing Officer in relation to transfer pricing additions for Assessment year 2010-11. The Company has filed an appeal before DRP against the said order. |
128.118* |
0.000 |
|
Note: * The amount reflects disallowances made by the assessing officer. |
|
|
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.64.17 |
|
UK Pound |
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.70.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.