MIRA INFORM REPORT
|
Report No. : |
306495 |
|
Report Date : |
10.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MARUTI SUZUKI INDIA LIMITED (w.e.f.17.09.2007) |
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Formerly Known
As : |
MARUTI UDYOG LIMITED |
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Registered
Office : |
Plot No. 1, Nelson Mandela Road, Vasant Kunj, New Delhi -
110070 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.02.1981 |
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Com. Reg. No.: |
55-011375 |
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Capital
Investment / Paid-up Capital : |
Rs. 1510.000 Millions |
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CIN No.: [Company Identification
No.] |
l34103dl1981plc011375 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM00046E |
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PAN No.: [Permanent Account No.] |
AAACM0829Q |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing, Purchasing and Selling of Motor Vehicles, Components
and Spare Parts ("Automobiles") and other activities like
facilitation of Pre-Owned Car sales, Fleet Management and Car Financing. |
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|
|
|
No. of Employees
: |
12547 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (79) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 600000000 |
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of SUZUKI MOTOR CORPORATION. It is a well-established and a reputed company having an excellent
track record. The financial position of the company is strong and healthy.
Performance capability is high. Trade relations are trustworthy. Business is active. Payments are
regular and as per commitment. The company can be considered excellent for business dealings under
usual trade terms and conditions. |
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 |
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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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest
credit risk. |
|
Date |
09.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
09.05.2014 |
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 / Head Office : |
Plot No. 1, Nelson
Mandela Road, Vasant Kunj, New Delhi - 110070, India |
|
Tel No.: |
91-11-46781000 |
|
Fax No.: |
91-11-46150275/ 46150276 |
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Email : |
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Website : |
www.marutisuzuki.com |
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Corporate office : |
11th Floor, Jeevan Prakash Building, 25 Kasturba Gandhi
Marg, New Delhi – 110001, India |
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Tel No.: |
91-11-23316831 |
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|
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|
Factory 1 : |
Gurgaon Plant Old Palam Gurgaon Road, Gurgaon – 122015, Haryana, India |
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Tel No.: |
91-124-2346721-30 |
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Fax No.: |
91-124-2341404 |
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Factory 2: |
Manesar Plant |
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Tel No.: |
91-124-4884000 |
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Regional Offices : |
Located at: · Kolkata · Guwahati ·
·
· Chennai ·
· Mumbai · Ahmedabad ·
·
·
· Jaipur ·
·
· Pune |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. R C Bhargava |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Keiichi Asai |
|
Designation : |
Director and Managing
Executive Officer [Engineering] |
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|
Name : |
Mr. Kazuhiko
Ayabe |
|
Designation : |
Director and
Managing Executive Officer [Supply Chain] |
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|
Name : |
Mrs. Pallavi
Shroff |
|
Designation : |
Director |
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Name : |
Mr. Davinder Singh Brar |
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Designation : |
Director |
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Date of Birth/Age : |
60 Years |
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Name : |
Mr. O. Suzuki |
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Designation : |
Director |
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|
Name : |
Mr. Kenichi Ayukawa |
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Designation : |
Managing Director and Chief Executive Officer |
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Date of Birth/Age : |
57 Years |
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Qualification : |
Law Graduate from Osaka University, Japan |
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Name : |
Mr. Shinzo
Nakanishi |
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Designation : |
Director |
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Name : |
Mr. Amal Ganguli |
|
Designation : |
Director |
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Date of Birth/Age : |
73 Years |
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Name : |
Mr. R.P. Singh |
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Designation : |
Director |
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Date of Birth/Age : |
61 Years |
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Name : |
Mr. K. Saito |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. S. Ravi Aiyar |
|
Designation : |
Executive Officer (Legal) and Company Secretary |
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|
|
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Audit Committee : |
·
Mr. Amal Gaguli, Chairman ·
Mr. K. Ayukawa, Member ·
Mrs. Pallavi Shroff, Member ·
Mr. Davinder Singh Brar, Member |
|
|
|
|
Shareholder and Investors Grievance committee : |
·
Mr. R C Bhargava, Chairman ·
Mr. Shinzo Nakanishi, Member ·
Mr. Kenichi Ayukawa, Member ·
Mr. Davinder Singh Brar, Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
|
|
|
|
169788440 |
56.21 |
|
|
169788440 |
56.21 |
|
Total shareholding
of Promoter and Promoter Group (A) |
169788440 |
56.21 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
20229842 |
6.70 |
|
|
24611986 |
8.15 |
|
|
66498881 |
22.01 |
|
|
111340709 |
36.86 |
|
|
|
|
|
|
13982802 |
4.63 |
|
|
|
|
|
|
5785013 |
1.92 |
|
|
307400 |
0.10 |
|
|
871169 |
0.29 |
|
|
445568 |
0.15 |
|
|
118591 |
0.04 |
|
|
150 |
0.00 |
|
|
306860 |
0.10 |
|
|
20946384 |
6.94 |
|
Total Public
shareholding (B) |
132287093 |
43.79 |
|
Total (A)+(B) |
302075533 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
302075533 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Purchasing and Selling of Motor Vehicles,
Components and Spare Parts ("Automobiles") and other activities
like facilitation of Pre-Owned Car sales, Fleet Management and Car Financing. |
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Products/ Services : |
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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 : |
Not Available |
PRODUCTION STATUS (As on 31.03.2014)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Passenger Cars and Light Duty Utility Vehicles |
Nos. |
|
1,510,000 |
1,153,645 |
Notes:
·
Licensed Capacity is not applicable from 1993-94.
**Installed Capacity is as certified by the management and relied upon
by the auditors, being a technical matter.
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
12547 (Approximately) |
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Bankers : |
· State Bank of Travancore, New Delhi, India · Punjab National Bank, Parliament Street, New Delhi, India · Bank of America, New Delhi, India · Bank of Tokyo – Mitsubishi Limited, New Delhi, India · State Bank of India, New Delhi, India · American Express Bank, New Delhi, India · Corporation Bank, New Delhi, India · BNP Paribas, Kasturba Gandhi Marg, New Delhi - 110001, India · Sanwa Bank, Kasturba Gandhi Marg, New Delhi – 110001, India · ABN Amro Bank, Barakhamba Road, New Delhi – 110001, India · Union Bank of India, New Delhi, India · Credit Lyonnais Bank, New Delhi, India · Citibank N.A., Barakhamba Road, New Delhi, India ·
State Bank of India, Gurgaon, Haryana, India |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding
Company : |
Suzuki Motor Corporation |
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Joint
Ventures : |
· Mark Exhaust Systems Limited · Bellsonica Auto Component India Private Limited · FMI Automotive Components Limited · Krishna Auto Mirrors Limited · Inergy India Automotive Components Limited · Maruti Insurance Broking Private Limited · Manesar Steel Processing India Private Limited |
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|
|
|
Subsidiaries
: |
· Maruti Insurance Agency Services Limited · Maruti Insurance Agency Logistics Limited · Maruti Insurance Distribution Services Limited · Maruti Insurance Agency Network Limited · Maruti Insurance Agency Solutions Limited · True Value Solutions Limited · Maruti Insurance Business Agency India Limited · Maruti Insurance Broker Limited · JJ. Impex (Delhi) Private Limited |
|
|
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Associates
: |
· Asa hi India Glass Limited · Bharat Seats Limited · Caparo Maruti Limited · Climate Systems India Limited · Denso India Limited · Jay Bharat Maruti Limited · Krishna Maruti Limited · Machino Plastics Limited · SKH Metals Limited · Nippon Thermostat (India) Limited · Sona Koyo Steering Systems Limited · Magneti Marelli Powertrain India Private Limited · Suzuki Powertrain India Limited |
|
|
|
|
Fellow Subsidiaries
(Only with whom the Company had transactions during the current year) : |
· Jinan Oingqi Suzuki Motorcycle Company Limited · Magyar Suzuki Corporation Limited · PT Suzuki Indomobil Motor (Former PT Indomobil Suzuki International) · Suzuki Australia Pty. Limited · Suzuki Austria Automobile Handels G.m.b.H. · Suzuki Auto South Africa (Pty) Limited · Suzuki Cars (Ireland) Limited · Suzuki France S.A.S. · Suzuki GB PLC · Suzuki International Europe G.m.b.H. · Suzuki Italia S.P.A. · Suzuki Motor (Thailand) Company Limited · Suzuki Motor lberica, S.A.U. · Suzuki Motor Poland SP.Z.O.O. (Former Suzuki Motor Poland Limited) · Suzuki Motorcycle India Private Limited · Suzuki New Zealand Limited · Suzuki Philippines Inc. · Taiwan Suzuki Automobile Corporation |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3744000000 |
Equity Shares |
Rs. 5/- each |
Rs. 18720.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
302080060 |
Equity Shares |
Rs. 5/- each |
Rs. 1510.000
Millions |
|
|
|
|
|
NOTES:
RECONCILIATION OF THE NUMBER OF SHARES OUTSTANDING
|
|
31.03.2014 |
|
|
|
NUMBER OF SHARES |
RS. IN MILLIONS |
|
Balance as at
the beginning of the year and at the end of the year |
302,080,060 |
1510.000 |
|
Share issued in the ratio of 1:70 to the shareholders
of erstwhile Suzuki Powertrain India Limited pursuant to a scheme of
amalgamation |
-- |
-- |
|
Balance as at the end of the year |
302,080,060 |
1510.000 |
EQUITY SHARES HELD BY THE HOLDING COMPANY AND ITS NOMINEES
|
|
31.03.2014 |
|
|
|
NUMBER OF SHARES |
RS. IN MILLIONS |
|
Suzuki Motor Corporation, the holding company |
169788440 |
848.000 |
|
|
|
|
|
|
169788440 |
848.000 |
RIGHTS, PREFERENCES AND RESTRICTION ATTACHED TO SHARES
The Company has one
class of equity shares with a par value of Rs. 5 per share. Each shareholder is
eligible for one vote per share held. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting, except in case of interim dividend. In the event of
liquidation, the equity shareholders are eligible to receive the remaining
assets of the Company after distribution of all preferential amounts, in
proportion to their shareholding.
SHARES HELD BY EACH SHAREHOLDER HOLDING MORE THAN 5% OF THE AGGREGATE
SHARES IN THE COMPANY
|
Particular |
% |
NUMBER OF SHARES
|
|
Suzuki Motor
Corporation (the holding company) |
56.21 |
169788440 |
|
Life Insurance Corporation of India |
6.63 |
20018385 |
SHARES ALLOTTED AS FULLY PAID UP PURSUANT TO CONTRACT (S) WITHOUT
PAYMENT BEING RECEIVED ON CASH (DURING 5 YEARS IMMEDIATELY PRECEDING
31.03.2014)
13170000 Equity Shares have been allotted as
fully paid up during the current year to Suzuki Motor Corporation pursuant to
the scheme of amalgamation with Suzuki
Powertrain India Limited
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 |
1510.000 |
1510.000 |
1445.000 |
|
(b) Reserves & Surplus |
208270.000 |
184279.000 |
150429.000 |
|
(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) |
209780.000 |
185789.000 |
151874.000 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4604.000 |
5429.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
5866.000 |
4087.000 |
3023.000 |
|
(c) Other long term
liabilities |
2386.000 |
2503.000 |
966.000 |
|
(d) long-term provisions |
1980.000 |
2259.000 |
1693.000 |
|
Total
Non-current Liabilities (3) |
14836.000 |
14278.000 |
5682.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
12247.000 |
8463.000 |
10783.000 |
|
(b) Trade payables |
48975.000 |
41579.000 |
33499.000 |
|
(c) Other current liabilities |
12742.000 |
10751.000 |
15892.000 |
|
(d) Short-term provisions |
6777.000 |
6482.000 |
5292.000 |
|
Total
Current Liabilities (4) |
80741.000 |
67275.000 |
65466.000 |
|
|
|
|
|
|
TOTAL |
305357.000 |
267342.000 |
223022.000 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
106077.000 |
95765.000 |
73108.000 |
|
(ii) Intangible Assets |
1827.000 |
2227.000 |
2099.000 |
|
(iii) Capital work-in-progress |
26214.000 |
19409.000 |
9419.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
13048.000 |
18735.000 |
13933.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16384.000 |
12800.000 |
13410.000 |
|
(e) Other Non-current assets |
90.000 |
8946.000 |
263.000 |
|
Total
Non-Current Assets |
163640.000 |
157882.000 |
112232.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
88131.000 |
52048.000 |
47541.000 |
|
(b) Inventories |
17059.000 |
18407.000 |
17965.000 |
|
(c) Trade receivables |
14137.000 |
14699.000 |
9376.000 |
|
(d) Cash and cash equivalents |
6297.000 |
7750.000 |
24361.000 |
|
(e) Short-term loans and
advances |
12511.000 |
11153.000 |
7783.000 |
|
(f) Other current assets |
3582.000 |
5403.000 |
3764.000 |
|
Total
Current Assets |
141717.000 |
109460.000 |
110790.000 |
|
|
|
|
|
|
TOTAL |
305357.000 |
267342.000 |
223022.000 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Net Sale of Products |
426,448.000 |
426,126.000 |
347059.000 |
|
|
Other Operating Revenue |
10,558.000 |
9,753.000 |
8812.000 |
|
|
Other Income |
8229.000 |
8124.000 |
8268.000 |
|
|
TOTAL
(A) |
445235.000 |
444003.000 |
364139.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
288989.000 |
303492.000 |
267055.000 |
|
|
Purchases of Stock-in-Trade |
24314.000 |
21864.000 |
15325.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
185.000 |
234.000 |
(1297.000) |
|
|
Employees benefits expense |
13681.000 |
10696.000 |
8013.000 |
|
|
Other expenses |
59221.000 |
57735.000 |
42072.000 |
|
|
Vehicles / Dies for own use |
(343.000) |
(438.000) |
(427.000) |
|
|
TOTAL
(B) |
386047.000 |
393583.000 |
330741.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
59188.000 |
50420.000 |
33398.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1759.000 |
1898.000 |
552.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
57429.000 |
48522.000 |
32846.000 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
20844.000 |
18612.000 |
11384.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
36585.000 |
29910.000 |
21462.000 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
8755.000 |
5989.000 |
5110.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
27830.000 |
23921.000 |
16352.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
2783.000 |
2392.000 |
1635.000 |
|
|
Dividend |
3625.000 |
2417.000 |
2167.000 |
|
|
Tax on Dividend |
616.000 |
411.000 |
351.000 |
|
|
Total
(M) |
7024.000 |
5220.000 |
4153.000 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
41125.000 |
45514.000 |
36918.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials and Components |
30955.000 |
42344.000 |
30451.000 |
|
|
Capital Goods |
17312.000 |
14762.000 |
11625.000 |
|
|
Maintenance Spares |
683.000 |
663.000 |
280.000 |
|
|
Dies and Moulds |
59.000 |
8.000 |
15.000 |
|
|
Other Items |
357.000 |
120.000 |
852.000 |
|
|
TOTAL
IMPORTS |
49366.000 |
57897.000 |
43223.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
92.13 |
79.19 |
56.60 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.20112 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.53 |
5.61 |
4.71 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
13.88 |
11.83 |
9.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.75 |
13.05 |
10.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.16 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.08 |
0.07 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76 |
1.63 |
1.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.20134 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1445.000 |
1510.000 |
1510.000 |
|
Reserves & Surplus |
150429.000 |
184279.000 |
208270.000 |
|
Net
worth |
151874.000 |
185789.000 |
209780.000 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
5429.000 |
4604.000 |
|
Short term borrowings |
10783.000 |
8463.000 |
12247.000 |
|
Total
borrowings |
10783.000 |
13892.000 |
16851.000 |
|
Debt/Equity
ratio |
0.071 |
0.075 |
0.080 |
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 |
347059.000 |
426126.000 |
426448.000 |
|
|
|
22.782 |
0.076 |
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 |
347059.000 |
426126.000 |
426448.000 |
|
Profit |
16352.000 |
23921.000 |
27830.000 |
|
|
4.71% |
5.61% |
6.53% |
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
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 |
Yes |
|
LITIGATION
DETAILS IN THE HIGH
COURT OF DELHI AT NEW DELHI
Through : None 17.11.2014 I.A.No. 22446/2014 Learned counsel for the plaintiffs states that he will file the deficiency of the Court Fee within a week. Let it to be done so. The Registry shall confirm it. The I.A. stands disposed of. I.A.No. 22447/2014 (Exemption) The application is allowed subject to the plaintiffs filling legible |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Foreign currency loans from banks |
3493.000 |
3920.000 |
|
Loans from holding company |
1111.000 |
1509.000 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
From banks – Cash credit and overdraft |
4271.000 |
725.000 |
|
From banks – buyers credit and packing credit loans |
7976.000 |
7738.000 |
|
|
|
|
|
Total |
16851.000 |
13892.000 |
NOTE
1. Foreign currency loans from banks include:
- loan amounting to Rs. 2,499 million (Previous year Rs. 2,264 million) (USD 41.71 million) taken from Japan Bank of International Cooperation (JBIC) at an interest rate of LIBOR + 0.125, repayable in 6 half yearly instalments starting September 2014 (acquired pursuant to a scheme of amalgamation, refer note 37). Out of the above, Rs. 833 million (Previous year Rs. Nil) repayable within one year has been transferred to current maturities of long term debts. The repayment of the loan is guaranteed by Suzuki Motor Corporation, Japan (the holding company).
- other long term foreign currency loans amounting to Rs. 1,827 million (Previous year Rs. 1,656 million) (USD 30 million) taken from banks during the previous year at an average interest rate of Libor + 1.375 and repayable in July 2015.
2. A loan amounting to Rs.1,666 million (Previous year Rs. 1,509 million) (USD 27.80 million) taken from the holding company at an interest rate of LIBOR + 0.48, repayable in 6 half yearly instalments starting September 2014. Out of the above, Rs. 555 million (Previous year Rs. Nil) repayable within one year has been transferred to current maturities of long term debts.
FINANCIAL HIGHLIGHTS
The
total revenue (net of excise) was Rs.445,235 million as against Rs.444,003 million in the
previous year showing an increase of 0.28 per cent. Sale of vehicles in the
domestic market was 1,053,689 units as compared to 1,051,046 units in the
previous year showing an increase of 0.25 per cent. Total number of vehicles
exported was 101,352 units as compared to 120,388 units in the previous year.
Profit
before tax (PBT) was Rs. 36,585
million against Rs. 29,910
million showing an increase of 22 per cent and profit after tax (PAT) stood at Rs.
27,830 million
against Rs. 23,921
million in the previous year showing an increase of 16 per cent.
OPERATIONS
In
the past few years, the Indian automobile industry has experienced high volatility
in demand. Besides, with multiple products and variants, it is important for
the Company to build flexibility in operations to manage fluctuations in
demand.
The
Company has been able to achieve greater flexibility, besides improving
productivity and cost in plant operations. For example, all the models with
annual demand more than 150,000 can be manufactured in at least two plants
across Gurgaon and Manesar. To improve productivity and efficiency, the Company
regularly undertakes theme-based drives to reduce cycle time and minimise
operator fatigue. With initiatives like ‘One
Operator One Step Reduction’,
the Company was able to reduce operator movement by more than 1,300 steps in
one manufacturing cycle. The Company has a robust Suggestion Scheme that
encourages employees at all levels to generate and execute new ideas for
improvement and efficiency.
Over
the years, the Company has built in-house expertise in the design and
development of dies. These efforts continued during the year. Through automation
in design, capability development in simulation, and innovations in design and
process, the Company is able to develop dies faster and also achieve a
significant cost advantage over imported dies.
OUTLOOK
India’s automobile
industry has registered negligible growth over the past three years. The
prospects for the industry, however, remain positive in the medium term owing
to low vehicle penetration, high aspiration for car ownership and the promise
of revival in economic growth.
The
Company is fully geared for growth in the future in terms of capacity, products
and network. The upcoming R & D Centre at Rohtak, the systematic capability
development of its engineers and SMC’s
high focus on India, place the Company in a strong position to launch new
models and enter new segments.
The
Company’s
ability to increase market share points to the strength of its marketing
network, notably in rural areas and small towns. In the near future, the
Company will further strengthen its marketing infrastructure to enhance its
connect and serve customers better.
In
exports, the Company will make a concerted effort including network expansion,
new products and focused marketing initiatives in markets in Africa, Latin
America and the Middle East. The Company considers quality as critical to
maintaining leadership in the future. In line with this, it is strengthening
efforts to upgrade product quality
across
the value chain, including suppliers at Tier-II and Tier-III.
The
Company’s
brand strength, relationship with its partners, committed people and cost
capabilities will enable it to further strengthen its position in the Indian
market.
STATEMENT OF UNAUDITED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER 2014
|
|
Particulars |
QUARTER
ENDED |
|||
|
Quarter
ended |
Nine
Months Ended |
||||
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|||
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
|
Domestic Vehicles Sold
(No.) |
29520.200 |
28768.700 |
85353.200 |
|
|
|
Export Vehicles Sold (No.) |
2870.900 |
3421.100 |
9217.100 |
|
|
|
Total Vehicles Sold (No.) |
32391.100 |
32189.800 |
94570.300 |
|
|
1 |
Income from Operations |
|
|
|
|
|
a |
Gross Sales |
135092.800 |
130941.200 |
386783.900 |
|
|
|
Less: Excise Duty on
Sales |
12461.400 |
10977.900 |
33454.100 |
|
|
|
Net Sales |
122631.400 |
119963.300 |
353329.800 |
|
|
b |
Other Operating Income |
3126.300 |
3074.500 |
9162.100 |
|
|
|
Total Income from Operations (a+b) |
125757.700 |
123037.800 |
362491.900 |
|
|
2 |
Expenses : |
|
|
|
|
|
|
[a] Cost of material
consumed |
78874.600 |
85669.900 |
241565.400 |
|
|
|
[b] Purchases of
stock-in-trade |
6554.200 |
6953.100 |
19809.900 |
|
|
|
[c]
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
2831.900 |
(4874.400) |
(3522.900) |
|
|
|
[d] Employees benefits
expense |
3750.200 |
3698.200 |
10983.500 |
|
|
|
[e] Depreciation and
amortisation expense |
6278.400 |
5988.500 |
18103.300 |
|
|
|
[f] Other expenses |
17820.900 |
16382.600 |
49239.700 |
|
|
|
Total Expenses |
116110.200 |
113817.900 |
336178.900 |
|
|
3 |
Profit from operations before other income, finance cost and
exceptional items (1-2) |
9647.500 |
9219.900 |
26313.000 |
|
|
4 |
Other income |
1289.500 |
1932.500 |
6187.300 |
|
|
5 |
Profit from ordinary activities
before finance cost and exceptional items (3+4) |
10937.0000 |
11152.400 |
32500.300 |
|
|
6 |
Finance Costs |
300.200 |
347.900 |
1033.600 |
|
|
7 |
Profit from ordinary activities
after finance cost but before exceptional items (5-6) |
10636.800 |
10804.500 |
31466.700 |
|
|
8 |
Exceptional items |
-- |
-- |
-- |
|
|
9 |
Profit from ordinary activities
before tax (7-8) |
10636.800 |
10804.500 |
31466.700 |
|
|
10 |
Tax expense |
2615.200 |
2179.100 |
7196.900 |
|
|
11 |
Net profit from ordinary
activities after tax (9-10) |
8021.600 |
8625.400 |
24269.800 |
|
|
12 |
Extraordinary item |
-- |
-- |
-- |
|
|
13 |
Net Profit for the Period
(11-12) |
8021.600 |
8625.400 |
24269.800 |
|
|
14 |
Share of Profit of associates |
-- |
-- |
-- |
|
|
15 |
Minority interest |
-- |
-- |
-- |
|
|
16 |
Net Profit For the Period |
8021.600 |
8625.400 |
24269.800 |
|
|
17 |
Paid-up equity share capital |
1510.400 |
1510.400 |
1510.400 |
|
|
18 |
Face value of the share
(Rs.) |
5 |
5 |
5 |
|
|
19 |
Reserves excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
|
20 |
Basic & diluted
earnings per share (not annualized) Rs. |
26.55 |
28.55 |
80.34 |
|
|
|
Particulars |
Standalone |
|||
|
Quarter
ended |
Nine
Months Ended |
||||
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|||
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
|
1 |
Public shareholding : |
|
|
|
|
|
|
Number of shares |
132291620 |
1322919620 |
132291620 |
|
|
|
Percentage of
shareholding |
43.79% |
43.79% |
43.79% |
|
|
2 |
Promoters & Promoter
Group Shareholding |
|
|
|
|
|
a) |
Pledged/ Encumbered |
|
|
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
|
|
Percentage of shares (as
a % of the total shareholding of promoter and promoter group) |
-- |
-- |
-- |
|
|
|
Percentage of shares (as
a % of the total share capital of the company) |
-- |
-- |
-- |
|
|
b) |
Non Encumbered |
|
|
|
|
|
|
Number of shares |
169788440 |
169788440 |
169788440 |
|
|
|
Percentage of shares (as
a % of the total shareholding of promoter and promoter group) |
100 |
100 |
100 |
|
|
|
Percentage of shares (as a
% of the total share capital of the company) |
56.21% |
56.21% |
56.21% |
|
|
|
Particulars |
Quarter ended 31st December, 2014 |
|
||
|
B |
INVESTOR COMPLAINTS (Nos.) |
|
|
||
|
|
Pending at the beginning
of the quarter |
0 |
|
||
|
|
Received during the
quarter |
8 |
|
||
|
|
Disposed of during the
quarter |
8 |
|
||
|
|
Remaining unresolved at
the end of the quarter |
0 |
|
||
Note :
1. The above results for the period
ended 31st December, 2014 were reviewed by Audit Committee and approved by the
Board of Directors in their meeting held on 27th January, 2015. These results
have been subjected to a Limited Review by the Auditors.
2. The Company has considered
"business segment" as the primary segment. The Company is primarily
in the business of manufacturing, purchase and sale of Motor Vehicles,
Components and Spare Parts (“automobiles”). The other activities of the Company
comprise facilitation of Pre-Owned Car Sales, Fleet Management and Car
Financing. The income from these activities is not material in financial terms
but such activities contribute significantly in generating demand for the
products of the Company. Accordingly, segment information has not been disclosed.
3. The estimated useful lives
of certain fixed assets have been revised in accordance with Schedule II to the
Companies Act 2013, with effect from 1st April 2014. Pursuant to the above
mentioned changes in useful lives, the depreciation expense for the quarter and
nine months ended 31st December 2014 is higher by Rs. 172.700 Millions and Rs.
538.200 Millions respectively and for the assets whose revised useful lives
have expired prior to 31st March 2014, the net book value of Rs. 792.600
Millions (net of deferred tax of Rs. 4,081 lacs) has been deducted from the
retained earnings.
4. Pursuant to the Supreme
Court order setting aside the judgment of the Punjab & Haryana High Court
(“High Court”) and directing the High Court for fresh determination of the compensation
payable to the landowners, in an appeal filed by the Haryana State Industrial
& Infrastructure Development Corporation Limited ("HSIIDC"),
relating to the demand raised for additional compensation by landowners for
land acquired from them at Manesar for industrial purposes:
In respect of demand for Rs 7941.7000 Millions
the Company has filed implement applications before the High Court.
·
In respect of demand for Rs. 2234.400 Miilions for the remaining part of
the land of the Company at Manesar received from HSIIDC, consequent to the
order of the High Court, the Company's appeal is pending adjudication with the
High Court.
·
In respect of the demand for Rs 140.400 Millions
received by the erstwhile Suzuki Powertrain India Limited ("SPIL") (merged
with the Company with effect from 1st April 2012), the erstwhile SPIL had paid
a sum of Rs 41.500 Millions to HSIIDC before the merger. The Company is
contesting the remaining demand and has filed a writ petition with the High
Court.
·
As the amount(s), if any, of final price
adjustment(s) is/ are not determinable at this stage, the Company considers
that no provision is required to be made at present. Any additional
compensation, if payable, will have the effect of enhancing the asset value of
the freehold land. The penal interest payable, if any, would be charged to the
statement of profit and loss. The Company has made a payment of Rs.37,00.000
Millions to HSIIDC under protest.
5. The figures of previous periods have been re-grouped,
wherever necessary, to conform to current quarter classification.
6.
Rs.10 Lacs is equal to Rs.1 Million.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
80042727 |
22/08/2000 |
500,000,000.00 |
HDFC BANK LIMITED |
HINDUSTAN TIMES HOUSE, 5 TH FLOOR, 18-20 K.G. MARG, NEW DELHI - 110001, INDIA |
- |
|
2 |
80045189 |
22/09/2003 * |
200,000,000.00 |
STATE BANK OF TRAVANCORE |
KAROL BAGH, NEW DELHI - 110005, INDIA |
- |
|
3 |
80042726 |
02/02/2000 |
1,000,000,000.00 |
CORPORATION BANK |
I.F. B., K.G. MARG, NEW DELHI - 110001, INDIA |
- |
|
4 |
80043903 |
28/02/2003 * |
950,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACOOUNT, 17, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Building
· Plant and Machinery
· Electronic Data Processing Equipments
· Furniture, Fixtures and Office Appliances
·
Vehicles
Press Release
Maruti Suzuki Financial Results Q3 (Oct-Dec) 2014-155
New Delhi, January 27, 2015: The Board of Directors of Maruti Suzuki India Limited today approved the financial results for the quarter ending December 2014.
Highlights Q3
(Oct-Dec) 2014-15
The Company sold a total of 323,911 vehicles in Q3, a growth of 12.4 per cent. Of this, exports were at 28,709 units, a growth of 43.8 per cent.
The Company registered Net Sales (net of excise) of Rs. 122,631 million, a growth of 15.5 per cent over the same period in the previous year.
Net profit in Q3 (2014-15) stood at Rs 8,022 million, up 17.8 per cent compared to the same period last year.
Higher volumes, material cost reduction initiatives and favorable foreign exchange contributed to bottom-line during the quarter.
Highlights 9
Months (Apr-Dec) 2014-15
The Company sold a total of 945,703 vehicles in April-December 2014, a growth of 13.9 per cent. Of this, exports were at 92,171 units, a growth of 22.8 per cent.
The Company registered Net Sales (net of excise) of Rs 353,330 million, a growth of 14.6 per cent over the same period last year.
Net profit stood at Rs 24,270 million, up 22.4 per cent.
Maruti jan sales rise 13.7%, taata motors posts 5% growth
Car market leader Maruti Suzuki sold 1.16 lakh units in January, a growth of 13.7 percent compared to 1.02 lakh units sold in the year-ago period driven by domestic as well as exports growth.
Domestic sales grew 8.7 percent year-on-year to 1.05 lakh units during the first month of the calendar year 2015, largely supported by Ciaz car (that launched in October 2014). Exports jumped 89 percent to 11,047 units during the same period.
Passenger vehicles sales climbed 7.9 percent to 89,014 units in January from 82,461 units in same month last year.
Ciaz (which falls into the mid-size car segment) along with SX4 reported sales at 6,005 units in January against 191 units in the year-ago month.
Super compact (like Dzire Tour) car segment growth was 33 percent and compact cars growth (Swift, Dzire, Celerio and Ritz) was 7.5 percent on yearly basis. However, mini car segment reported 7.3 percent degrowth, which include Alto and WagonR.
Utility vehicles' (like Gypsy, Ertiga) sales grew 35 percent Y-o-Y and vans (Omni, Eeco) sales increased 8.2 percent in the month gone by.
Tata Motors'
M&HCV Grows Further
Tata Motors ' total commercial and passenger vehicles sales (including exports) in January 2015 stood at 42,582 vehicles, a growth of 5 percent over 40,481 vehicles sold in January 2014.
The company’s domestic sales of commercial and passenger vehicles for January 2015 were 38,621 units, a growth of 5 percent over 36,657 vehicles in January 2014.
"While market continues to remain challenged by macroeconomic trends, besides positive growth in segments such as M&HCV and passenger cars, exports have grown in January 2015 by 4 percent (at 3,961 units) over last year," said Tata Motors in its filing.
M&HCV is medium and heavy commercial vehicle while LCV is light commercial vehicle.
Company’s sales of commercial vehicles in January 2015 in the domestic market remained flat at 25,574 numbers on yearly basis. LCV sales were at 14,301 units, a decline of 18 percent over January 2014, while M&HCV sales continued to show growth at 11,273 units, which was higher by 38 percent, over January 2014.
In January 2015, Tata Motors sold 13,047 units of passenger vehicles, up 19 percent compared to 10,974 units sold in January 2014.
"The trend of growth in passenger vehicles continued - with the strong Zest sales and the good response to the all-new Bolt," said the company.
While the sales of the passenger cars in January 2015 were at 11,637 units, higher by 38 percent, over January 2014, the utility vehicle sales declined 44 percent at 1,410 units, in January 2015.
Ashok Leyland Rides
Strong Sales
Ashok Leyland , the second largest commercial vehicle maker in India, reported a 36 percent growth in total sales at 10,639 units in January year-on-year, driven by M&HCV.
M&HCV sales grew 45 percent on yearly basis to 8,005 units and LCV sales increased 14 percent to 2,634 units in the month gone by.
M&M Disappoints
Utility vehicle maker Mahindra and Mahindra sold 39,930 units in January, down 6 percent compared to a year-ago month, impacted by domestic sales.
Domestic sales dropped 8 percent on yearly basis to 37,045 units whereas exports grew 22 percent to 2,885 units in the month gone by.
Passenger vehicle sales of the company declined 5 percent year-on-year to 18,804 units and commercial vehicle sales down 14 percent to 12,919 units in January.
Total tractor sales fell 26 percent to 14,913 units during the same period.
Bajaj Auto Sales
Decline
Bajaj Auto ’s depressing run of monthly sales continued in January with total sales declining 9 percent year-on-year to 28.800 Millions units.
Volume sales in its core motorcycle business declined 12 percent to 24.700 Millions units. Motorcycle sales had fallen 6 percent year-on-year in December too. Bajaj Auto has ceded market share in motorcycles to rivals over the last many months, and efforts to reverse the trend through product upgrades has yielded little result so far.
The company’s Managing Director Rajiv Bajaj said sales were impacted by the hike in excise duty, and also that the domestic market for motorcycle remained sluggish.
The company’s exports in January grew a modest 4 percent to 14.300 Millions units, indicating pressure in the exports market. The only consolation in January numbers was a 14 percent increase in three-wheeler sales to 41,791 units. But given that three-wheeler sales accounts for barely 15 percent of total sales, this growth does not change the big picture for Bajaj Auto.
TVS Motor Misses Estimates
TVS Motor Company's total sales grew 1.2 percent to 1.88 lakh units in January from 18.600 Millions units sold in the year-ago month. Numbers were lower than Nomura's expectations of sales of 20.600 Millions units.
Two-wheeler sales (the major contributor to total sales) stood at 18.100 Millions units, a growth of 1.1 percent compared to 17.100 lakh Millions in same month last year.
TVS sold 7,082 units of three-wheelers in January, up 5 percent compared to 6,737 units sold in the year-ago month. However, exports declined 13.3 percent year-on-year to 25,029 units in the month gone by.
Hero Motocorp
Total sales of the two-wheeler major declined to 5.59 lakh units in January compared to 56.100 Millions units in the year-ago period.
Royal
Enfield Rocks Again
Total commercial vehicle sales of the VE Commercial Vehicles (a 50:50 joint venture between the Volvo Group and Eicher Motors) grew 25.1 percent year-on-year to 3,262 units, led by domestic sales.
Domestic commercial vehicle sales rose 25.1 percent on yearly basis to 2,905 units
Eicher Motors sold 28,927 units of Royal Enfield in January, up 43 percent compared to 20,232 units in the same month last year. Exports grew 82 percent to 770 units from 424 units during the same period.
Escorts Sales Fall
Escorts's total tractor sales declined 29 percent to 3,369 units in January against 4,742 units sold in the year-ago month. Domestic sales fell 31.4 percent year-on-year to 3,223 units during the same period.
Maruti Suzuki stock
price
On February 06, 2015, Maruti Suzuki India closed at Rs 3500.75, down Rs 21.5, or 0.61 percent. The 52-week high of the share was Rs 3758.00 and the 52-week low was Rs 1551.00.
The company's trailing 12-month (TTM) EPS was at Rs 106.83 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 32.77. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 5.04
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.62.14 |
|
|
1 |
Rs.94.79 |
|
Euro |
1 |
Rs.70.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILITY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
79 |
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.