MIRA INFORM REPORT

Report No. :	306137
Report Date :	04.02.2015

IDENTIFICATION DETAILS

Name :	MPT AMTEK AUTOMOTIVE (INDIA) LIMITED (w.e.f. 10.03.2007)
Formerly Known As :	MPT AMTEK AUTOMOTIVE LIMITED
Registered Office :	4, Bhanot Apartments, Local Shopping Centre, Pushp Vihar, New Delhi - 110062
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	08.12.2006
Com. Reg. No.:	55-156351
Capital Investment / Paid-up Capital :	Rs.332.393 Millions
CIN No.: [Company Identification No.]	U34300DL2006PLC156351
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAECM9510C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company is a manufacturer and supplier of auto components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1400000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. There seems some dip in the turnover and profit of the company during FY 2014. However, general financial position of the company is normal and acceptable for business dealings. Company is operating on its own funds. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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 31-03-2014.

LOCATIONS

Registered Office / Factory / Headquarter :	4, Bhanot Apartments, Local Shopping Centre, Pushp Vihar, New Delhi – 110062, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	mptamtekauto@gmail.com kaushalendra.verma@magnapowertrain.com
Website :	http://www.amtek.com
Corporate Office :	3 LSC Pamposh Enclave, Greater Kailash – 1 New Delhi - 110048, India
Tel. No.:	91-11- 42344444
Fax No.:	91-11-42344400
E-Mail :	info@amtek.com

DIRECTORS

AS ON 30.09.2014

Name :

Avijit Banerjee

Designation :

Director

Address :

K-995, Ground Floor, Chitaranjan Park, New Delhi – 110019, India

Date of Birth/Age :

29.10.1949

Date of Appointment :

23.12.2006

DIN No.:

01357534

Name :

John Ernest Flintham

Designation :

Director

Address :

ST. Catherines Blacksmith Lane, Pershore, Lower Moor – WR102PA, WORSCM United Kingdom

Date of Birth/Age :

16.09.1952

Date of Appointment :

23.12.2006

DIN No.:

01463500

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U34300DL2006PLC156351	MPT AMTEK AUTOMOTIVE (INDIA) LIMITED	Director	23/12/2006	23/12/2006	-	Active	NO
2	U27106DL2005PLC138437	AMTEK TEKFOR AUTOMOTIVE LIMITED	Managing director	25/02/2009	24/04/2007	-	Active	NO
3	L27230HR1988PLC030333	AMTEK AUTO LIMITED	Managing director	14/08/2012	31/07/2007	-	Active	NO
4	U40300DL2007PTC169558	AMTEK VCST POWERTRAIN INDIA PRIVATE LIMITED	Director	18/10/2007	18/10/2007	-	Active	NO
5	U27100HR2008PLC040838	AMTEK TRANSPORTATION SYSTEMS LIMITED	Director	10/06/2008	10/06/2008	11/06/2008	Active	NO
6	U35200DL2008PTC180534	AMTEK RAILCAR INDUSTRIES PRIVATE LIMITED	Director	24/09/2009	18/07/2008	-	Active	NO
7	U34101HR2009PTC039424	SMI AMTEK CRANKSHAFT PRIVATE LIMITED	Director	20/12/2010	20/04/2010	-	Active	NO
8	L65921HR1983PLC033789	AMTEK INDIA LIMITED	Director	24/03/2014	13/05/2013	-	Active	NO
9	U35204WB1981PLC033700	STESALIT LIMITED	Director	28/09/2013	02/08/2013	-	Active	NO
10	L42274DL1997PLC270939	JMT AUTO LIMITED	Director	27/09/2014	19/08/2013	-	Active	NO
11	U35990DL2014PTC272515	AMTEK RIKEN CASTING PRIVATE LIMITED	Director	15/10/2014	15/10/2014	-	Active	NO

Name :

Kaushalendra Verma

Designation :

Director

Address :

B 412 Shaurya Apartment, B9/7B Sector-62, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

17.05.1968

Date of Appointment :

29.09.2012

DIN No.:

02004259

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74899DL1995PTC067296	DELPHI AUTOMOTIVE SYSTEMS PRIVATE LIMITED	Additional director	18/12/2007	18/12/2007	02/06/2008	Active	NO
2	U34300DL2006PLC156351	MPT AMTEK AUTOMOTIVE (INDIA) LIMITED	Director	29/09/2012	10/02/2012	-	Active	NO
3	U29110HR2008PTC037708	Magna Rico Powertrain Private Limited	Nominee director	28/09/2012	31/03/2012	-	Active	NO
4	U34102KA2009PTC049218	MAGNA POWERTRAIN BANGALORE PRIVATE LIMITED	Nominee director	01/05/2014	01/05/2014	-	Active	NO

Name :

Tom Rucker

Designation :

Director

Address :

58, Long Valley Road, Lot 14, Aurora – L4G6K8, Canada

Date of Birth/Age :

06.03.1969

Date of Appointment :

29.09.2010

DIN No.:

03422351

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U34300DL2006PLC156351	MPT AMTEK AUTOMOTIVE (INDIA) LIMITED	Director	29/09/2010	02/02/2010	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Amtek Auto Limited, India	16619651
Magna Power Train AG , Canada	16619658
Arvind Dham	1
D.S. Malik	1
K.T. James	1
Ashish Pandit	1
Sanjay Tiku	1
Aarti Jain	1
Anjali Malhotra	1
Total	33239316

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

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	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :	The company is a manufacturer and supplier of auto components.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

PRODUCTION STATUS ; NOT AVAILABLE

GENERAL INFORMATION

Suppliers :	Not Available
Customers :	Not Available
No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name :	BSR and Company Chartered Accountants
Address :	Building No. 10, 8th Floor, Tower B, DLF Cyber City, Phase – II
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFB9852F
Memberships :	--
Collaborators :	--
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Amtek Auto Limited [L27230HR1988PLC030333] Magna Power Train AG ARGL Limited [U74899DL1995PLC070717] AMTEK Travels Private Limited [U60210DL2001PTC113554] Unimotion Gears ACIL Limited [U34300DL1997PLC086695] Amtek Technologies and Solutions Limited [U74899DL2000PLC103319] Amtek India Limited [L65921HR1983PLC033789]

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
36,000,000	Equity Shares	Rs.10/- each	Rs.360.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
33,239,316	Equity Shares	Rs.10/- each	Rs.332.393 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	332.393	332.393	322.593
(b) Reserves & Surplus	154.881	120.496	-9.968
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	81.003
Total Shareholders’ Funds (1) + (2)	487.274	452.889	393.628
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.966	1.314	0.648
Total Non-current Liabilities (3)	1.966	1.314	0.648
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	75.583	81.690	81.121
(c) Other current liabilities	9.186	16.616	15.417
(d) Short-term provisions	12.785	5.230	0.094
Total Current Liabilities (4)	97.554	103.536	96.632
TOTAL	586.794	557.739	490.908
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	129.803	144.942	127.463
(ii) Intangible Assets	0.315	0.419	2.700
(iii) Capital work-in-progress	0.657	0.657	3.286
(iv) Intangible assets under development	0.000	0.000	1.291
(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	21.113	24.461	12.924
(e) Other Non-current assets	0.529	0.456	0.418
Total Non-Current Assets	152.417	170.935	148.082
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	108.318	74.798	99.665
(c) Trade receivables	139.906	166.618	143.352
(d) Cash and cash equivalents	116.134	90.913	35.430
(e) Short-term loans and advances	70.019	54.475	64.379
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	434.377	386.804	342.826
TOTAL	586.794	557.739	490.908

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	468.499	694.334	390.989
	Other Income	19.386	10.386	10.559
	TOTAL (A)	487.885	704.720	401.548
Less	EXPENSES
	Cost of Materials Consumed	232.019	345.634	205.509
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(10.874)	32.661	(21.230)
	Employees benefits expense	42.158	38.598	22.892
	Other expenses	174.378	228.648	177.472
	TOTAL (B)	437.681	645.541	384.643
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	50.204	59.179	16.905
Less	FINANCIAL EXPENSES (D)	0.498	0.467	0.292
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	49.706	58.712	16.613
Less/ Add	DEPRECIATION/ AMORTISATION (F)	15.321	16.449	13.019
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	34.385	42.263	3.594
Less	TAX (H)	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	34.385	42.263	3.594
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	308.019	456.502	456.502
	TOTAL EARNINGS	308.019	456.502	456.502
	Earnings / (Loss) Per Share (Rs.)	1.03	1.28	0.11

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	7.34	6.09	0.92
Operating Profit Margin (PBIDT/Sales)	(%)	10.72	8.52	4.32
Return on Total Assets (PBT/Total Assets}	(%)	5.87	7.59	0.74
Return on Investment (ROI) (PBT/Networth)		0.07	0.09	0.01
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.00
Current Ratio (Current Asset/Current Liability)		4.45	3.74	3.55

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	322.593	332.393	332.393
Reserves & Surplus	(9.968)	120.496	154.881
Share Application money pending allotment	81.003	0.000	0.000
Net worth	393.628	452.889	487.274
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

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	390.989	694.334	468.499
		77.584	(32.525)

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	390.989	694.334	468.499
Profit	3.594	42.263	34.385
	0.92%	6.09%	7.34%

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	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	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

COMPANY OVERVIEW

The Company is a private company domiciled and headquartered in India. It was incorporated on 18 December 2006 under the Companies Act, 1956 as joint venture between Amtek Auto Limited and Magna Powertrain, AG on the basis of Joint Venture Agreement (?JV Agreement?) entered on 30 October 2006. The company is a manufacturer and supplier of auto components, mainly two piece Flexplates for four wheeler applications.

PERFORMANCE

During the year, the company has incurred a Net Profit of Rs.34.385 Millions after tax and thereby quote an earnings per share of 1.03.

INDEX OF CHARGES : NO CHARGES EXIST FOR COMPANY

FIXED ASSETS

· Plant and equipment

· Furniture and fixtures

· Office equipment

· Computer equipments

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 records 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.61.74
UK Pound	1	Rs.92.71
Euro	1	Rs.69.94

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--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	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		48

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	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.