MIRA INFORM REPORT
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Report No. : |
305452 |
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Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SUZUKI MOTORCYCLE INDIA PRIVATE LIMITED (w.e.f. 13.06.2014) |
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Formerly Known
As : |
SUZUKI MOTORCYCLE INDIA LIMITED (w.e.f. 23.08.2013) SUZUKI MOTORCYCLE INDIA PRIVATE LIMITED (w.e.f. 06.08.2005) INTEGRA OVERSEAS
PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, Plot No.1, Nelson Mandela Road, Vasant Kunj, New
Delhi – 110070, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.04.1997 |
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Com. Reg. No.: |
55-086871 |
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Capital Investment
/ Paid-up Capital : |
Rs.7815.532 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1997FTC086871 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACI5832P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of motor cycle and big bikes. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 8000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of Suzuki Motor Corporation. It is an
established company having a moderate track record. The rating reflects moderate financial risk profile marked by
continuous accumulated losses that company has incurred over a year and below
average financial performance. However, trade relations are fair. Business is active. Payment terms
are slow but correct. In view of strong holding support, the company can be considered for
business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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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 |
EXTERNAL AGENCY RATING
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
31-03-2014.
LOCATIONS
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Registered Office/ Sales and Marketing Office : |
2nd
Floor, Plot No.1, Nelson Mandela Road, Vasant Kunj, New Delhi – 110070, India
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Tel. No.: |
91-11-26253125 |
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Fax No.: |
91-11-46075418 |
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E-Mail : |
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Website : |
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Factory : |
Village Kherki Daula, Badshapur NH 8, Link Road, Gurgaon, Haryana,
India |
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Tel. No.: |
91-124-4170700 |
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Fax No.: |
91-124-4170701/ 4117325 |
DIRECTORS
As on 24.09.2014
|
Name : |
Masayoshi Ito |
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Designation : |
Managing director |
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Address : |
Room No. 213, Japanese Hostel Cum Restaurant Compl, Opp. Mdi Gate No. 3, Adjascent To Nh-8, Gurgaon, 122001, Haryana, India |
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Date of Appointment : |
11.07.2014 |
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DIN No.: |
06916967 |
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Name : |
Saqulain Yasin Siddiqui |
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Designation : |
Director |
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Address : |
B - 268, Sector - 26, Noida, 201301, Uttar Pradesh, India |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
00045925 |
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Other
Directorship :
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Name : |
Hiroshi Ema |
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Designation : |
Director |
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Address : |
Room No. 229, Jukaso It Suites It, Composite Towers,1, Idc, Mehrauli Road, Sector- 14, Gurgaon, 122001, Haryana, India |
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Date of Appointment : |
24.09.2014 |
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DIN No.: |
06680285 |
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KEY EXECUTIVES
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Name : |
Saryu Munjal |
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Designation : |
Secretary |
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Address : |
H. No. 252, Sector-16, Urban Estate, Karnal, 132001, Haryana, India |
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Date of Appointment : |
17.01.2015 |
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PAN No. : |
BXLPM2963H |
MAJOR SHAREHOLDERS
As on 31.03.2014
|
Names of Shareholders |
No. of Shares |
%age |
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Suzuki Motor Corporation, Japan |
781553194 |
99.90% |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of motor cycle and big bikes. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Auditors : |
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Name : |
V Sankar Aiyar
and Company Charted
Accountant |
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Address : |
202-301, Satyam Cinema
Complex, Ranjit Nagar Community, New Delhi – 110008, Delhi, India |
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Tel. No.: |
91-124-25702074/25702691/25704639 |
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Fax No.: |
91-124-2549101 |
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PAN No.: |
AAAFV0781D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Suzuki Motor Corporation, Japan |
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Fellow Subsidiary
company : |
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Enterprises which are
owned, or have significant influence of or are partners with Key management personnel and their relatives : |
Changzhou Haojue Suzuki Motorcycle Company Limited, China |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
850000000 |
Equity Shares |
Rs.10/-each |
Rs.8500.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
781553200 |
Equity Shares |
Rs.10/-each |
Rs.7815.532
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
7815.532 |
7815.532 |
7815.532 |
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(b) Reserves &
Surplus |
(4777.349) |
(4293.372) |
(3948.894) |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
3038.183 |
3522.160 |
3866.638 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.075 |
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(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
83.125 |
71.414 |
58.314 |
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(d) long-term provisions |
31.093 |
23.738 |
15.430 |
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Total Non-current
Liabilities (3) |
114.218 |
95.152 |
73.819 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
1923.309 |
1695.597 |
2117.161 |
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(c) Other current
liabilities |
369.555 |
221.795 |
205.948 |
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(d) Short-term provisions |
160.003 |
92.262 |
100.783 |
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Total Current Liabilities
(4) |
2452.867 |
2009.654 |
2423.892 |
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TOTAL |
5605.268 |
5626.966 |
6364.349 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
2564.848 |
2571.404 |
2352.762 |
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(ii) Intangible Assets |
20.339 |
9.288 |
5.387 |
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(iii) Capital
work-in-progress |
374.292 |
35.603 |
147.877 |
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(iv) Intangible assets
under development |
0.732 |
1.002 |
2.340 |
|
(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 |
177.221 |
30.912 |
62.953 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
10.000 |
|
Total Non-Current Assets |
3137.432 |
2648.209 |
2581.319 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
332.299 |
428.127 |
349.938 |
|
(c) Trade receivables |
54.778 |
20.596 |
18.552 |
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(d) Cash and cash
equivalents |
1024.483 |
1573.212 |
2411.855 |
|
(e) Short-term loans and
advances |
858.976 |
771.833 |
877.266 |
|
(f) Other current assets |
197.300 |
184.989 |
125.419 |
|
Total Current Assets |
2467.836 |
2978.757 |
3783.030 |
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|
|
|
|
|
TOTAL |
5605.268 |
5626.966 |
6364.349 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
13822.293 |
14538.287 |
12246.581 |
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(157.819) |
(48.909) |
236.123 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
326.157 |
295.568 |
247.083 |
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PROFIT/ (LOSS) BEFORE TAX |
(483.976) |
(344.477) |
(10.960) |
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|
|
|
|
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Less |
TAX |
0.000 |
0.000 |
0.000 |
|
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|
|
|
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|
PROFIT/ (LOSS) AFTER TAX
|
(483.976) |
(344.477) |
(10.960) |
|
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Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(4293.372) |
(3948.895) |
(3937.935) |
|
|
|
|
|
|
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|
Balance Carried to the
B/S |
(4777.348) |
(4293.372) |
(3948.895) |
|
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|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.62) |
(0.44) |
(0.01) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
Net Profit Margin PAT / Sales |
(%) |
(3.50) |
(2.37) |
(0.09) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(9.25) |
(6.16) |
(0.18) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
(0.10) |
0.00 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
1.48 |
1.56 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
7815.532 |
7815.532 |
7815.532 |
|
Reserves & Surplus |
(3948.894) |
(4293.372) |
(4777.349) |
|
Net worth |
3866.638 |
3522.160 |
3038.183 |
|
|
|
|
|
|
long-term borrowings |
0.075 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.075 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
12246.581 |
14538.287 |
13822.293 |
|
|
|
18.713 |
(4.925) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
12246.581 |
14538.287 |
13822.293 |
|
Profit |
(10.960) |
(344.477) |
(483.976) |
|
|
(0.09%) |
(2.37%) |
(3.50%) |
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 |
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 |
Yes |
|
23] |
Banking Details |
No |
|
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 |
No |
|
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 |
LITIGATION DETAILS
:
|
IN THE HIGH COURT OF DELHI AT NEW DELHI O.M.P.
883/2013
Through: Mr.Kartik
Jindal, Advocate. versus
22.09.2014 Learned counsel for
the respondents seeks time to file the reply. Let the same be filed within
four weeks. Rejoinder, if any,
be filed thereafter before the next date of hearing. List the matter on 8th
January, 2015.
SEPTEMBER 22, 2014 sapna |
OPERATIONS
During the year ended March 31 st 2014 the Company has produced 361,556 numbers of Motorcycles/ Scooters as compared to 419235 numbers of Motorcycles / Scooters produced during last year. The total numbers of Motorcycles/ Scooters sold during the year ended on March 31st, 2014 were 3,66,262 in comparison to 416223 Motorcycles /Scooters sold during last financial year.
INDEX OF CHARGES
NO CHARGES EXIST FOR
COMPANY
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.61.75 |
|
|
1 |
Rs.93.13 |
|
Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
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 |
|
--PROFITABILITY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
33 |
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.