MIRA INFORM REPORT
|
Report No. : |
330883 |
|
Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROBERT BOSCH AUTOMOTIVE STEERING PRIVATE LIMITED (w.e.f.14.06.2015) |
|
|
|
|
Formerly Known
As : |
ZF
LENKSYSTEME INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 184, Global Raisoni Industrial Park, Alandi - Markal
Road, Phulgaon, Pune – 412216, Maharashtra |
|
Tel. No.: |
91-20-30205600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
24.09.2007 |
|
|
|
|
Com. Reg. No.: |
11-130749 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2145.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130PN2007PTC130749 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ3191L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Assembling of Steering Systems
for Commercial Vehicles and Passenger Cars. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3800000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “ZF LENKSYSTEME GMBH”. It is an established
company having moderate track record. For the financial year ended 2014, company possesses moderate
financial risk profile and incurred losses from its operational activities. Rating further constrained on account of company’s moderate financial
risk profile marked by negative reserves and leverage balance profile of the
company. However, company receives strong financial and managerial support from
its holding company. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. In view of strong holding company 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Ms. Amruta Moghe |
|
Designation : |
Finance Controller and Company Secretary |
|
Contact No.: |
91-20-66786700 |
|
Date : |
06.07.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 184, Global Raisoni Industrial Park, Alandi – Markal
Road, Phulgaon, Pune – 412216, Maharashtra, India |
|
Tel. No.: |
91-20-30205600/ 66786700 |
|
Fax No.: |
91-20-30205606 |
|
E-Mail : |
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|
Website : |
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|
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Branch Offices : |
Located at: · Ahmedabad · Bangalore · Chakan · Chennai · Coimbatore · Jaipur · Manesar · Naganathapura · Nashik · Verma |
DIRECTORS
AS ON 16.09.2014
|
Name : |
Mr. Dinesh Hirachand Munot |
|
Designation : |
Director |
|
Address : |
‘Pratik’, Behind Hotel Sahara, Off. Senapati Bapat Road, Pune –
411016, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1947 |
|
Date of Appointment : |
24.09.2007 |
|
DIN No.: |
00049801 |
|
|
|
|
Name : |
Carl Magnus Backlund |
|
Designation : |
Director |
|
Address : |
Maillingerstrasse 24, 80636 Munchen Tyskland Sweden |
|
Date of Birth/Age : |
17.03.1974 |
|
Date of Appointment : |
28.07.2011 |
|
DIN No.: |
03573869 |
|
|
|
|
Name : |
Rainer Georg Kirsamer |
|
Designation : |
Director |
|
Address : |
Grauwiesenstabe 32 Eschach Germany |
|
Date of Birth/Age : |
21.08.1958 |
|
Date of Appointment : |
29.07.2013 |
|
DIN No.: |
06639265 |
|
|
|
|
Name : |
Klaus Traeder |
|
Designation : |
Alternate director |
|
Address : |
Boppelgasse 11 Schwaebisch Gmuend 73525 Germany |
|
Date of Birth/Age : |
04.07.1954 |
|
Date of Appointment : |
28.07.2011 |
|
DIN No.: |
01864738 |
|
|
|
|
Name : |
Mr. Mandeep Bhalla |
|
Designation : |
Alternate director |
|
Address : |
C 303 Landmark Gardens, Kalyani Nagar, Pune, Maharashtra, India |
|
Date of Birth/Age : |
49 years |
|
Qualification : |
Graduate in Mechanical Engineering |
|
Experience : |
25 years |
|
Date of Appointment : |
22.08.2014 |
|
DIN No.: |
06483010 |
KEY EXECUTIVES
|
Name : |
Ms. Amruta Dnyaneshwar Moghe |
|
Designation : |
Finance Controller and Company Secretary |
|
Address : |
Flat No. 104, Sahil Apartment, Sai Nagar, Kondhwa BK, Pune – 411048,
Maharashtra, India |
|
Date of Birth/Age : |
02.03.1987 |
|
Date of Appointment : |
07.03.2012 |
|
PAN No.: |
BPLPM9127H |
|
|
|
|
Name : |
Andreas Zuchanke |
|
Designation : |
Director – Passenger Cars |
|
|
|
|
Name : |
Kathrin Dathe |
|
Designation : |
Director – Purchase |
|
|
|
|
Name : |
Stephan Wanner |
|
Designation : |
Sr. Manager – Industrialization |
|
|
|
|
Name : |
Jens Schaefer |
|
Designation : |
Manager – Industrial Engineering |
|
|
|
|
Name : |
Christian Bordasch |
|
Designation : |
Manager – Customer Projects and Systems Application |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
ZF Lenksysteme GmbH, Germany |
201650000 |
74.00 |
|
ZF Steering Gear (India) Limited, India |
70850000 |
26.00 |
|
|
|
|
|
Total |
272500000 |
100.00 |
AS ON 19.11.2014
|
Names of Allottees |
No. of Shares |
|
ZF Lenksysteme GmbH, Germany |
16280000 |
|
ZF Steering Gear (India) Limited, India |
5720000 |
|
|
|
|
Total |
22000000 |
AS ON 11.02.2015
|
Names of Allottees |
No. of Shares |
|
ZF Lenksysteme GmbH, Germany |
31080000 |
|
ZF Steering Gear (India) Limited, India |
10920000 |
|
|
|
|
Total |
42000000 |
AS ON 16.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
74.00 |
|
Bodies
corporate |
26.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Assembling of Steering Systems
for Commercial Vehicles and Passenger Cars. |
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Products : |
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||||
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Brand Names : |
·
Bosch Car
Service ·
The Bosch
Diesel Center ·
Rexroth ·
CST/berger ·
Dremel ·
Dynacord ·
Electro-Voice ·
Freud ·
RTS ·
Robinair ·
sia Abrasives ·
Skil ·
Telex ·
Zexel |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
-- |
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Mutha and Lahoti Chartered Accountants |
|
Address : |
A/14, 3rd Floor, Herekar Park Next to Kamla Nehru Park, Off Bhandarkar Road, Near Decan Gumkhana, Pune – 411004, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMFM5424A |
|
|
|
|
Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
|
|
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|
Holding company : |
ZF Lenksysteme GmbH, Germany |
|
|
|
|
Fellow Subsidiary
company : |
·
ZF Lenksysteme Hungaria ·
ZF Sistemas De Direcao Ltda ·
ZF Steering Jincheng (Nanjing) Co. Limited ·
ZF Systemes de Direction, Nacam, SAS ·
ZF Lenksysteme Shanghai Co. Limited,
Shanghai ·
ZF Boge Elastmetall (Shanghai) Co., Limited ·
ZF Friedrichshafen AG |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
Z F Steering Gear (India) Limited
[L29130PN1981PLC023734] |
CAPITAL STRUCTURE
AFTER 16.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
356,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3565.000
Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
336,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3365.000
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
294,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2945.000
Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
214,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2145.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2145.000 |
1508.000 |
819.000 |
|
(b) Reserves & Surplus |
(815.772) |
(316.124) |
(85.440) |
|
(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) |
1329.228 |
1191.876 |
733.560 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
24.976 |
4.813 |
2.762 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.929 |
0.835 |
0.525 |
|
Total
Non-current Liabilities (3) |
25.905 |
5.648 |
3.287 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
105.527 |
|
(b)
Trade payables |
57.159 |
90.994 |
22.609 |
|
(c)
Other current liabilities |
89.300 |
73.929 |
19.631 |
|
(d)
Short-term provisions |
0.928 |
0.270 |
0.200 |
|
Total
Current Liabilities (4) |
147.387 |
165.193 |
147.967 |
|
|
|
|
|
|
TOTAL |
1502.520 |
1362.717 |
884.814 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
635.870 |
132.017 |
80.133 |
|
(ii)
Intangible Assets |
2.716 |
0.802 |
0.054 |
|
(iii)
Capital work-in-progress |
24.486 |
88.468 |
4.479 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
31.307 |
27.605 |
26.521 |
|
(e)
Other Non-current assets |
28.762 |
10.263 |
3.650 |
|
Total
Non-Current Assets |
723.141 |
259.155 |
114.837 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
119.945 |
60.439 |
44.806 |
|
(c)
Trade receivables |
76.672 |
16.588 |
11.684 |
|
(d)
Cash and cash equivalents |
277.179 |
929.384 |
705.695 |
|
(e)
Short-term loans and advances |
284.016 |
94.709 |
6.493 |
|
(f)
Other current assets |
21.567 |
2.442 |
1.299 |
|
Total
Current Assets |
779.379 |
1103.562 |
769.977 |
|
|
|
|
|
|
TOTAL |
1502.520 |
1362.717 |
884.814 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
SALES |
165.777 |
53.194 |
35.957 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(415.634) |
(204.472) |
(50.337) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
59.388 |
21.658 |
3.683 |
|
|
|
|
|
|
|
|
|
Less |
PRELIMINARY EXPENSES WRITTEN OFF |
4.462 |
2.500 |
1.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(479.484) |
(228.630) |
(55.381) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
20.163 |
2.054 |
10.740 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(499.647) |
(230.684) |
(66.121) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2.850 |
7.990 |
Euro 882 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.33) |
(1.53) |
(0.81) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(745.945) |
(189.977) |
(70.212) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(32.44) |
(17.94) |
(6.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.36) |
(0.19) |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.29 |
6.68 |
5.20 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
819.000 |
1508.000 |
2145.000 |
|
Reserves & Surplus |
(85.440) |
(316.124) |
(815.772) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
733.560 |
1191.876 |
1329.228 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
105.527 |
0.000 |
0.000 |
|
Total
borrowings |
105.527 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.144 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
35.957 |
53.194 |
165.777 |
|
|
|
47.938 |
211.646 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
35.957 |
53.194 |
165.777 |
|
Profit/ (Loss) |
(66.121) |
(230.684) |
(499.647) |
|
|
(183.89%) |
(433.67%) |
(301.40%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from 601-602, A
Wing, 6th Floor, MCCIA Trade Tower, ICC, 403-A, Senapati Bapat Road, Pune -
411016, Maharashtra, India to the present address w.e.f.01.04.2012.
CORPORATE
INFORMATION
ZF Lenksysteme India Private Limited (?the Company?) is a private
limited company domiciled in India and was incorporated on September 24, 2007
under the provisions of the Companies Act, 1956. ZF Lenksysteme India Private
Limited is a joint venture between ZF Lenksysteme GmbH, Germany and ZF Steering
Gear (India) Limited, India. The Company is primarily engaged in the business
of production & assembling of steering systems for commercial vehicles and
passenger cars. The company has a plant at Phulgaon near Pune for production
and assembling of steering systems and vane pumps.
REVIEW OF OPERATIONS
AND MANAGEMENT:
During the year, the Company successfully crossed the Project milestone
with the set up of Assembly Line for supply of Electronic Power Steering
Systems. In addition, all efforts were focused also to increase sales within
the existing projects of Commercial vehicle steering systems and Passenger car
steering systems and accordingly successfully improved the sales from 53.194
Million INR to 165.777 Million INR as compared to the previous year.
The Company is still in a project phase and is gradually migrating to
serial assembly of parts for Indian Customers. The Organisation is setting up
robust internal processes and systems to ensure smooth running of its operations.
The loss before tax reported of Rs. 479.485 Million is mainly on account
of setting up of the Assembly Line, infrastructural facilities and also due to
high impact on exchange rates. Further the Company is taking appropriate
measures to reduce the costs by way of localisation of raw material, replacing
expatriates by local employees, optimization in material planning and such
other necessary measures as and when required. However it is important to note
that the Company is in still a phase of project acquisition, project
stabilization and building up the assets for the requirements of the projects.
Mr. Ronaldo Alves, Chief Executive Officer of the Company resigned with
effect from November 14, 2013. The Directors have accepted his resignation. In
his stead, Mr. Mandeep Bhalla has been appointed as the Chief Executive Officer
with effect from November 15, 2013.
FIXED ASSETS:
·
Plant and equipment
·
Factory equipments
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Leasehold improvements
·
Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.38 |
|
|
1 |
Rs. 97.65 |
|
Euro |
1 |
Rs. 70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
27 |
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.