MIRA INFORM REPORT
|
Report No. : |
303768 |
|
Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEW HOLLAND FIAT (INDIA) PRIVATE LIMITED (w.e.f. 18.12.2008) |
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|
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|
Formerly Known
As : |
FIAT INDIA PRIVATE LIMITED (w.e.f. 18.05.2000) IND AUTO LIMITED (w.e.f. 16.03.1998) PAL COOPER LIMITED (w.e.f. 17.07.1997) PAL COOPER PRIVATE LIMITED |
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Registered
Office : |
303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.12.2013 |
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Date of
Incorporation : |
23.11.1992 |
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Com. Reg. No.: |
11-069675 |
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Capital
Investment / Paid-up Capital : |
Rs. 12485.550 Millions |
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CIN No.: [Company Identification
No.] |
U29220MH1992PTC069675 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACI3922Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is
primarily engaged in the business of manufacture and sale of tractors and
components, spare parts and other allied agricultural equipment. |
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No. of Employees
: |
Information decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 55000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of Fiat Group Automobiles S.P.A. It is an established company having good track record. General financial position of the company is good. No borrowing recorded by the company. The rating also takes into consideration the company’s established
position in the market. Trade relations are reported as fair. Business is active. Payment terms
are reported to be regular and as per commitments. The company can be considered normal for business dealing 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra, India |
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Tel. No.: |
91-22-30007701-08 / 30007703 |
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Fax No.: |
91-22-30007709 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office (Tractor Division) : |
Plot No. 09, Suite
No. - 301 and 304, Copia Corporate Suite, Jasola District, Centre, New Delhi
– 110 044, India |
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Tel No.: |
91-11-46727100/ 49024000 |
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Fax No.: |
91-11-46727171/ 49024015 |
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Factory/ Parts
and Services : |
Tractor Division Plot No. 03, Udyog Kendra, Grater Noida – 201306, District Gautam Budh
Nagar, Uttar Pradesh, India |
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Tel. No.: |
91-120-3056000 / 6716455 / 6152 / 6306 |
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Fax No.: |
91-120-3056989/ 3056949 |
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Plant : |
Plot No. A33, Phase 4 Chakan Industrial Area, Pune – 410501, Maharashtra, India |
DIRECTORS
As on: 07.03.2014
|
Name : |
Mr. Rakesh Malhotra |
|
Designation : |
Managing Director |
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Address : |
228, Bhera Enclave, Delhi - 110087, India |
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Date of Birth/Age : |
06.04.1958 |
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Qualification : |
B.com (H), FCA |
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Pan No.: |
AAIPM7787Q |
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Date of Appointment : |
25.09.2008 |
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DIN No.: |
00015911 |
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Name : |
Mr. Stefano Pampalone |
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Designation : |
Managing Director |
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Address : |
Istinye Hill Park, SIT 47, Parsel, CS Istinye, Sariyer IST, Turkey |
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Date of Birth/Age : |
09.11.1967 |
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Qualification : |
MBA and Mechanical Engineer |
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Date of Appointment : |
14.09.2009 |
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DIN No.: |
02784982 |
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|
|
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Name : |
Mr. Stefano Reganzani |
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Designation : |
Director |
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Address : |
Via G. Chiabrera N 42, Conlugato, Torino, Italy |
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Date of Birth/Age : |
31.03.1965 |
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Date of Appointment : |
25.07.2011 |
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DIN No.: |
02185388 |
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Name : |
Mr. Roberto Ciceri |
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Designation : |
Director |
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Address : |
Via Antonia, Giuseppe, Bertola 49, Tornio 10122, Italy |
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Date of Birth/Age : |
03.10.1969 |
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Date of Appointment : |
25.07.2011 |
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DIN No.: |
03559131 |
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Name : |
Mr. Damiaro |
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Designation : |
Director |
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Address : |
Selvedere Road No. 15, Davesco- Scragno, Switzerland 6964 |
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Date of Birth/Age : |
23.12.1969 |
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Date of Appointment : |
18.12.2013 |
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DIN No.: |
06711790 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul Sanon |
|
Designation : |
General Manager Finance |
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|
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Name : |
Mr. Shubharanshu Shekhar Trivedy |
|
Designation : |
Secretary |
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Address : |
C-3/211, Sector-31, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
28.08.1973 |
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Date of Appointment : |
28.05.2010 |
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PAN No.: |
ACKPT3811A |
MAJOR SHAREHOLDERS
As on: 07.03.2014
|
Names of Shareholders (Equity Shares) |
No. of Shares |
|
Fiat Group Automobiles S.p.A (Class A), Italy |
3799998 |
|
Fiat India Automobiles Private Limited (Class A), India |
1 |
|
Sibille Alberto (Class A), Italy |
1 |
|
CNH Asian Holding Limited NV (Class A), Belgium |
3645916 |
|
CNH Asian Holding Limited NV (Class B), Belgium |
116723086 |
|
Total |
124169002 |
|
Names of Shareholders (Preference Shares) |
No. of Shares |
|
Fiat Group Automobiles SPA, Italy |
686472 |
|
Total |
686472 |
Equity Share Break up (Percentage of Total Equity)
As on: 07.03.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image017.gif)
BUSINESS DETAILS
|
Line of Business : |
The Company is
primarily engaged in the business of manufacture and sale of tractors and
components, spare parts and other allied agricultural equipment. |
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Products : |
Not divulged |
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Brand Names : |
Not divulged |
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Agencies Held : |
Not divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Available |
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Bankers : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
S. R. Batliboi and Associates LLP Chartered Accountants |
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Address : |
Golf View Corporate Tower B, Sector-42, Sector, Road, Gurgaon
- 122002, Haryana, India |
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PAN No.: |
ACHFS9118A |
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Memberships : |
---- |
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Collaborators : |
---- |
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Holding company : |
Fiat Group Automobiles S.P.A, Italy |
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Ultimate Holding Company : |
Fiat S.P.A., Italy |
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Fellow Subsidiaries : |
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Associates : |
Case New Holland Construction Equipment (India) Private Limited
[U29240MH1998PTC117183] |
CAPITAL STRUCTURE
After 07.03.2014
Authorised Capital : Rs. 20000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 12485.547
Millions
As on: 07.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity Shares |
Rs.100/- each |
Rs.15000.000 Millions |
|
50000000 |
Preference Shares |
Rs.100/-
each |
Rs.5000.000 Millions |
|
|
Total |
|
Rs.20000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
124169002 |
Equity Shares |
Rs.100/- each |
Rs.12416.900 Millions |
|
686472 |
Preference Shares |
Rs.100/- each |
Rs.68.650 Millions |
|
|
Total |
|
Rs.12485.550
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
12485.550 |
12485.550 |
12485.550 |
|
(b) Reserves & Surplus |
6642.160 |
2935.830 |
(705.430) |
|
(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) |
19127.710 |
15421.380 |
11780.120 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
79.750 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
211.720 |
168.060 |
147.470 |
|
Total Non-current
Liabilities (3) |
291.470 |
168.060 |
147.470 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
3586.670 |
3491.340 |
3566.330 |
|
(c) Other
current liabilities |
874.730 |
3193.050 |
720.810 |
|
(d) Short-term
provisions |
270.060 |
238.630 |
177.350 |
|
Total Current
Liabilities (4) |
4731.460 |
6923.020 |
4464.490 |
|
|
|
|
|
|
TOTAL |
24150.640 |
22512.460 |
16392.080 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4060.880 |
2993.620 |
2968.980 |
|
(ii)
Intangible Assets |
193.000 |
233.770 |
773.260 |
|
(iii)
Capital work-in-progress |
1340.130 |
599.330 |
171.440 |
|
(iv)
Intangible assets under development |
804.340 |
464.610 |
82.860 |
|
(b) Non-current Investments |
2256.030 |
2256.030 |
2256.030 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
357.690 |
1794.230 |
568.040 |
|
(e) Other
Non-current assets |
5.840 |
53.770 |
52.620 |
|
Total Non-Current
Assets |
9017.910 |
8395.360 |
6873.230 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3282.560 |
3923.020 |
3363.730 |
|
(c) Trade
receivables |
3989.810 |
3476.130 |
2726.380 |
|
(d) Cash
and cash equivalents |
6506.600 |
3532.960 |
2673.100 |
|
(e)
Short-term loans and advances |
1190.030 |
607.240 |
704.720 |
|
(f) Other
current assets |
163.730 |
2577.750 |
50.920 |
|
Total
Current Assets |
15132.730 |
14117.100 |
9518.850 |
|
|
|
|
|
|
TOTAL |
24150.640 |
22512.460 |
16392.080 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
29256.620 |
28767.060 |
22991.410 |
|
|
|
Other Income |
|
|
597.810 |
|
|
|
TOTAL (A) |
29256.620 |
28767.060 |
23589.220 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
|
17004.698 |
|
|
|
Purchases of trading goods |
|
|
447.156 |
|
|
|
Increase in stock of finished goods and work
in progress |
23357.990 |
24217.850 |
(337.510) |
|
|
|
Increase in Excise duty on closing stock |
|
|
14.499 |
|
|
|
Personal Expenses |
|
|
909.020 |
|
|
|
Operating and other expenses |
|
|
2147.777 |
|
|
|
TOTAL (B) |
23357.990 |
24217.850 |
20185.640 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5898.630 |
4549.210 |
3403.580 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
146.790 |
101.850 |
163.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5751.840 |
4447.360 |
3239.590 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
531.650 |
972.940 |
2252.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
5220.190 |
3474.420 |
987.170 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1351.220 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
3868.970 |
3474.420 |
987.170 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2831.890) |
(6306.310) |
(7293.480) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1037.080 |
(2831.890) |
(6306.310) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of Exports |
10210.930 |
9261.060 |
8234.504 |
|
|
|
Service Rendered |
52.580 |
47.780 |
30.473 |
|
|
|
Reimbursement of Excise Duty demand |
0.000 |
3111.650 |
0.000 |
|
|
|
Reversal of stock option expenses |
0.000 |
34.360 |
0.000 |
|
|
|
Reversal of Provision for warranty -export |
2.890 |
0.000 |
0.000 |
|
|
|
Others |
11.360 |
0.130 |
0.000 |
|
|
TOTAL EARNINGS |
10277.76 |
12454.980 |
8264.977 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2102.810 |
1642.940 |
2577.740 |
|
|
|
Traded Goods |
108.980 |
103.530 |
347.302 |
|
|
|
Capital Goods |
131.510 |
1566.870 |
340.707 |
|
|
|
Others |
0.000 |
0.000 |
0.154 |
|
|
TOTAL IMPORTS |
2343.300 |
3313.340 |
3265.903 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
30.99 |
27.83 |
NA |
|
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA |
NA |
4.29 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
NA |
14.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.43 |
18.10 |
7.11
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.23 |
0.08
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.20 |
2.04 |
2.13
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
12485.550 |
12485.550 |
12485.550 |
|
Reserves & Surplus |
(705.430) |
2,935.830 |
6642.160 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
11,780.120 |
15,421.380 |
19,127.710 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image019.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
23,589.220 |
28,767.060 |
29256.620 |
|
|
|
21.950 |
1.702 |
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image021.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
23,589.220 |
28,767.060 |
29256.620 |
|
Profit After Tax |
987.170 |
3,474.420 |
3,868.970 |
|
|
4.18% |
12.08% |
13.22% |
%20PRIVATE%20LIMITED%20%20-%20303768%2022-Jan-2015_files/image023.gif)
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 |
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
No |
|
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 |
No |
NOTE :
The registered office of the company has been shifted
from Level No.1, Regus Trade Centre, Bandra Kurla Complex, Mumbai – 400051,
Maharashtra, India to the present address w.e.f. 01.06.2009.
LATIGATION DETAILS
|
Case Details Bench : -Bombay |
|||
|
Presentation
Date : 17/07/2014 |
|||
|
Loding No. : - |
CEXAL/220/2014 |
Filing Date :- |
17/07/2014 |
|
Petitioner :- |
THE COMMISSIONER OF CENTRAL EXCIS |
Respondent :- |
M/S NEW HOLAND FIAT (INDIA) PVT LTD |
|
Petn. Adv.:- |
J. B MISHRA (0) |
Resp. Adv.:- |
PDS LEGAL (826) |
|
District :- |
MUMBAI |
||
|
Bench : - |
DIVISION |
|
|
|
Status :- |
Pre-Admission |
Category :- |
CENTRAL EXCISE APPEAL (CEXA) |
|
Last Date :- |
09/10/2014 |
Stage : |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Last Coram : - |
REGISTRAR(OS)/PROTHONOTARY AND SR. MASTEER |
||
|
ACT :- |
Central Excise and Salt Act. |
||
OPERATIONS AND
PERFORMANCE:
TRACTOR BUSINESS
During the year
2013, Indian Tractor Industry witnessed a growth of 16.9% in domestic market and
posted a negative growth of 5.9% in export segment in comparison to last year,
whereas, their company has achieved a growth of 17.2% in domestic market and
posted a growth of 8.4% in export segment. Indian tractor industry has
witnessed a sale of more than 0.612 million tractors in the domestic market in
the year 2013.
As a part of
business strategy, Dealer Network continued to be the key focus area in the
year 2013 also, they further strengthened dealer network by addition of 95 new dealers
from different geographical areas covering unrepresented territories.
Substantial numbers of non performing dealers were closed down in the year
2013. The total customer touch points touched 768 which include main dealers,
distributors, dealer branches, satellite dealers and ASCs. The new dealers
appointed during the year 2013 have more than 8% contribution in total domestic
sales of the company.
During the year,
they focused in 31-40 HP tractor segments, which resulted an increase of 0.8%
Market Share in this category. To boost the sales of above 50HP tractor
segment, Company launched a Special Edition 3630 - TX model with many
additional and unique features and got encouraging response. They were able to
sell 268 units of this special edition model during the fourth quarter of 2013.
Validation of
Excel Series is in progress in the Higher HP segment in Key Markets and in key
applications post which phase wise launch will take place in 2014.
They further
strengthened their Customer care centre which was established in the year 2012.
Customer Care Centre received and handled more than 37,000 incoming and
outgoing calls during the year 2013. Customer Care Centre in 5 different
languages through a single window contact point established to cater the needs
of their existing as well as potential customers.
In order to target
the large base of customers/dealers, social / digital media marketing was also
introduced for the first time with audio-visual clippings of their domestic and
international products on YouTube.
During the year
2013, their company achieved a major milestone by rolling out 2,50,000 the
tractor by their Greater Noida plant in the month of June.
Their focus
continued on implementation and execution of World Class Manufacturing Program
has resulted in qualifying their plant in the year 2013 for ‘Bronze’ award with
a score of 51 points on various parameters such as Quality production, safe
work environment, cost effective production with overall efficiency and
productivity enhancement.
During the year
2013, Company also witnessed No Loss Time in production due to zero accident,
reconfirming their efforts towards the safe work environment.
Supply Chain
Management was a key focus area in the year 2013, and their efforts ensured
meticulous Inventory control and resulted in huge saving.
Sugar Cane
Harvester and Other Agricultural Equipment Business they continued their
dominant position in sugarcane farm mechanization in domestic market, with more
than 96% market share. The Biomass equipment business received a big boost this
year with good orders from Punjab, Maharashtra and Gujarat in Biomass power
plants, Co-gen sector and hay and Forage segment. They also got a major
breakthrough in Precision agriculture segment with their Pneumatic Planters.
During the year
2013, sales volume of Sugar Cane Harvester witnessed a sharp decline to 25
units as compared to 122 units in 2012. This is due to drought conditions in
the states of Maharashtra, Karnataka and Tamilnadu during the second half of
2012 which resulted less sugarcane planting and less cane yield and cane
availability to the sugar-mills.
The baler sales
volume witnessed a sharp rise in the demand with 91 units as compared to 43
units last year. They also sold 45 Fertilizer Broadcaster to Sugarcane, wheat
and rice farmers. The Hay and Forage segment also opened up as the Government
allocated substantial funds to this sector through National Dairy plan, where
they could do business of 06 Mowers. Sale volume of Rotavators grew by more
than 50% in comparison to last year and sold 1261 units during the year 2013.
Their focus
continued on field activities with live demonstrations to show the unique
features of Sugar cane harvester 4000 series. Almost 40 events pan India
organized for live demonstration and also displayed in 4 major agriculture
business shows.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
Claims against company not acknowledged as debt |
709.620 |
705.580 |
|
Other money for which company is contingently liable |
2492.620 |
1807.560 |
|
Estimated amount of contracts remaining to be executed on capital account and not provided for |
601.370 |
1898.730 |
|
|
|
|
|
Total contingent
liabilities and commitments |
3803.610 |
4411.870 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
Intangible Assets
- Goodwill
- 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,
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. 61.61 |
|
UK Pound |
1 |
Rs. 93.49 |
|
Euro |
1 |
Rs. 71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
52 |
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.