MIRA INFORM REPORT
|
Report No. : |
324158 |
|
Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
DAIKIN AIRCONDITIONING INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
DAIKIN-SHRIRAM AIRCONDITIONING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F -25/2, Okhla Industrial Area, Phase – II, New Delhi – 110020 |
|
Tel. No.: |
91-79-26583013 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.04.2000 |
|
|
|
|
Com. Reg. No.: |
55-104990 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8029.239
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2000PTC104990 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELD04648A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD0971F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Sales and Related Services of Air Conditioners and Chillers.
|
|
|
|
|
No. of Employees
: |
200 (Approximately) |
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and huge accumulated losses incurred by the company over a year. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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
|
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Darpan Shah |
|
Designation : |
Account Manager |
|
Contact No.: |
91-79-26583013 |
|
Date : |
22.05.2015 |
LOCATIONS
|
Registered Office : |
F -25/2 Okhla Industrial Area, Phase – II, New Delhi – 110020, India |
|
Tel No.: |
91-79-26583013 |
|
Fax No: |
91-79-26583365 |
|
E-Mail : |
|
|
Website : |
http://www.daikinindia.com |
|
|
|
|
Corporate Office : |
12th Floor, Building No. 9, Tower A, DLF Cyber City, DLF
Phase – III, Gurgaon-122002,
Haryana, India |
|
Tel No.: |
91-124-4555444 |
|
Fax No: |
91-124-4555333 |
|
|
|
|
Factory : |
SP 2-12 to SP2-15 and SP 2-24 to SP2-27 RIICO New Industrial Complex, Neemrana
– 301705, District Alwar, Rajasthan, India |
|
Tel No.: |
91-1494-229100 |
|
Fax No.: |
91-1494-229-151 |
|
|
|
|
Branches : |
Jaipur Fax:91-141-2225569 Ahmedabad Tel: 91-79-26583013/26583014 Fax:91-79-26583365 Lucknow Chandigarh
Tel: 91-22-30926666 Fax:91-22-30926699 Chennai Tel: 91-44-24314210, 15 Fax:91-44-24338622 Bangalore Tel: 91-80-25590452, 54 Fax:91-80-25590450 Pune Tel: 91-20-25560601/25560300-02-03/32938516 Fax:91-20-25561304 Kolkata Tel: 91-33-22894260 Fax:91-33-22894259 Hyderabad |
DIRECTORS
As on. 30.09.2014
|
Name : |
Mr. Kanwal Jeet Jawa |
|
Designation : |
Managing Director |
|
Address : |
C-204, Greater Kailash Part 1, |
|
Date of Birth/Age : |
10.11.1959 |
|
Date of Appointment : |
10.09.2010 |
|
PAN No.: |
AAGPJ1732N |
|
DIN No.: |
00057351 |
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 |
U29193MH2001PLC249228 |
UNIVERSAL
COMFORT PRODUCTS LIMITED |
Director |
18/06/2003 |
18/06/2003 |
27/11/2006 |
Active |
NO |
|
2 |
U51395KA2004PTC070403 |
UNIFLAIR INDIA
PRIVATE LIMITED |
Managing
director |
01/12/2006 |
01/12/2006 |
20/04/2010 |
Active |
NO |
|
3 |
U74899DL2000PTC104990 |
DAIKIN
AIRCONDITIONING INDIA PRIVATE LIMITED |
Managing
director |
30/09/2010 |
10/09/2010 |
- |
Active |
NO |
|
Name : |
Mr. Rohit |
|
Designation : |
Director |
|
Address : |
B – 605/606, Som Vihar Apartments, Sector – 12, R.K. Puram, New Delhi
– 110019, India. |
|
Date of Birth/Age : |
25.08.1970 |
|
Date of Appointment : |
22.05.2009 |
|
DIN No.: |
00453642 |
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 |
U74140KA2004PTC034016 |
SANYO BPL PRIVATE LIMITED |
Director |
01/09/2006 |
15/12/2005 |
01/05/2008 |
Under liquidation |
NO |
|
2 |
U74899DL2000PTC104990 |
DAIKIN AIRCONDITIONING INDIA PRIVATE LIMITED |
Director |
22/05/2009 |
15/05/2009 |
- |
Active |
NO |
|
3 |
U24110MH2000PTC124224 |
SUMITOMO CHEMICAL INDIA PRIVATE LIMITED |
Director |
30/11/2009 |
05/10/2009 |
- |
Active |
NO |
|
4 |
U74140DL2006PTC154434 |
BMR GLOBAL SERVICES PRIVATE LIMITED |
Additional director |
14/03/2011 |
14/03/2011 |
- |
Active |
NO |
|
5 |
U74100MH2004PTC150047 |
BMR BUSINESS SOLUTIONS PRIVATE LIMITED |
Director |
30/09/2011 |
14/03/2011 |
- |
Active |
NO |
|
6 |
U29253MH2011PTC224968 |
EagleBurgmann Mascot India Private Limited |
Director |
04/04/2012 |
04/04/2012 |
- |
Active |
NO |
|
7 |
U29253TG2014PTC094854 |
YANMAR COROMANDEL AGRISOLUTIONS PRIVATE LIMITED |
Additional director |
28/07/2014 |
28/07/2014 |
- |
Active |
NO |
|
Name : |
Mr. Toshio Akio Nakano |
|
Designation : |
Director |
|
Address : |
15-27, Shoei-cho, Kawachinago-shi, Osaka, Japan-5860025 |
|
Date of Birth/Age : |
19.12.1944 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310877 |
|
Name : |
Mr. Hitoshi Hideki Tanaka |
|
Designation : |
Director |
|
Address : |
B-184, The ICON, DLF City, Phase V, Gurgaon –122002, Haryana, India |
|
Date of Birth/Age : |
21.02.1967 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310959 |
|
Name : |
Mr. Masakatsu Syozou Morimoto |
|
Designation : |
Director |
|
Address : |
3-807, 4- Chome, Hara Chou, Suita City, Osaka, Japan – 5650871 |
|
Date of Birth/Age : |
05.11.1962 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310980 |
|
Name : |
Mr. Motohiro Takashi Nakai |
|
Designation : |
Director |
|
Address : |
G-501, Central Park – I, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
10.11.1959 |
|
Date of Appointment : |
26.10.2010 |
|
DIN No.: |
03310997 |
|
Name : |
Mr. Kaoru Engauchi |
|
Designation : |
Director |
|
Address : |
14-4-311, Mitsuzawashimomachi, Kanagawa – Ku, Yokohama, Kanagawa,
Japan-2210852 |
|
Date of Birth/Age : |
27.07.1962 |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
05238854 |
|
Name : |
Mr. Akira Nagamori |
|
Designation : |
Director |
|
Address : |
A-151, Ashiana Green Hills, ST1, GH1, RIICO Industrial Area, Neemrana
District, Alwar-301705, Rajasthan, India |
|
Date of Birth/Age : |
15.09.1964 |
|
Date of Appointment : |
02.08.2013 |
|
DIN No.: |
06639651 |
|
Name : |
Mr. Sanjay Goyal |
|
Designation : |
Director |
|
Address : |
House No. – 1474, Sector – 16, Faridabad, Haryana – 121002, India. |
|
Date of Birth/Age : |
28.11.1965 |
|
Date of Appointment : |
26.09.2011 |
|
DIN No.: |
06972383 |
KEY EXECUTIVES
|
Name : |
Mr. Roopesh Jain |
|
Designation : |
Secretary |
|
Address : |
B-8/2, Vallabh Vihar, Plot -14, Sector -13, Rohini, New Delhi-110085,
India |
|
Date of Birth/Age : |
26.09.1976 |
|
Date of Appointment : |
26.09.2011 |
|
PAN No.: |
AFBPJ4278B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
%age |
|
Daikin Industries Limited, Japan |
80292389 |
100.00 |
|
Daikin Airconditioning (Singapore) Pte. Limited –
Singapore |
1 |
0.00 |
|
|
80292390 |
100.00 |
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Sales and Related Services of Air
Conditioners and Chillers. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users
|
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
200 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
State Bank of India, Overseas Branch, Vijaya
Building, Bara Khamba Road, New Delhi, India Tel No.:- 91-11-23315058 ·
Sumitomo Mitsui Banking Corporation, Gopal Das
Bhawan, Barakhamba Road, New Delhi – 110001, Delhi, India ·
Bank of Tokyo-Mitsubishi Limited, Jeevan Vihar
Building 3, Parliament Street, New Delhi – 110001, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Vijender Sharma and Company Chartered Accountant |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
|
|
|
|
|
Holding Company : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.100/- each |
Rs.10000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80292390 |
Equity Shares |
Rs.100/-
each |
Rs.8029.239
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 |
8029.239 |
4729.239 |
4229.239 |
|
(b) Reserves & Surplus |
(353.747) |
(190.349) |
(247.795) |
|
(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) |
7675.492 |
4538.890 |
3981.444 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.487 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
84.269 |
67.617 |
56.375 |
|
(c) Other long term
liabilities |
41.874 |
38.458 |
25.082 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
129.630 |
106.075 |
81.457 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
800.000 |
2474.900 |
0.000 |
|
(b) Trade
payables |
2679.477 |
4262.420 |
2870.135 |
|
(c) Other
current liabilities |
720.435 |
645.925 |
528.676 |
|
(d) Short-term
provisions |
136.221 |
76.268 |
30.531 |
|
Total Current
Liabilities (4) |
4336.133 |
7459.513 |
3429.342 |
|
|
|
|
|
|
TOTAL |
12141.255 |
12104.478 |
7492.243 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2215.639 |
2406.993 |
1711.630 |
|
(ii)
Intangible Assets |
18.092 |
16.083 |
6.155 |
|
(iii)
Capital work-in-progress |
0.000 |
1.000 |
481.287 |
|
(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 |
367.029 |
286.205 |
348.373 |
|
(e) Other
Non-current assets |
0.366 |
0.000 |
0.010 |
|
Total Non-Current
Assets |
2601.126 |
2710.281 |
2547.455 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6984.482 |
7339.147 |
3336.570 |
|
(c) Trade
receivables |
1303.987 |
886.869 |
462.628 |
|
(d) Cash
and cash equivalents |
651.967 |
673.775 |
664.413 |
|
(e)
Short-term loans and advances |
599.498 |
493.845 |
477.772 |
|
(f) Other
current assets |
0.195 |
0.195 |
3.406 |
|
Total
Current Assets |
9540.129 |
9393.831 |
4944.789 |
|
|
|
|
|
|
TOTAL |
12141.255 |
12104.112 |
7492.244 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
18204.000 |
16037.000 |
11962.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
17764.000 |
15538.000 |
12144.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
440.000 |
499.000 |
-182.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
120.000 |
69.000 |
247.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
320.000 |
430.000 |
(429.000) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
476.000 |
373.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(156.000) |
57.000 |
(429.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(163.000) |
57.000 |
(429.000) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.03) |
(0.70) |
(5.34) |
|
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 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.90) |
0.36 |
(3.59) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.42 |
3.11 |
(1.52) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.28) |
0.47 |
(6.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
0.01 |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.55 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20 |
1.26 |
1.44 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4229.239 |
4729.239 |
8029.239 |
|
Reserves & Surplus |
(247.795) |
(190.349) |
(353.747) |
|
Net worth |
3981.444 |
4538.890 |
7675.492 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
3.487 |
|
Short term borrowings |
0.000 |
2474.900 |
800.000 |
|
Total
borrowings |
0.000 |
2474.900 |
803.487 |
|
Debt/Equity
ratio |
0.000 |
0.545 |
0.105 |
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 |
11962.000 |
16037.000 |
18204.000 |
|
|
|
34.066 |
13.513 |
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 |
11962.000 |
16037.000 |
18204.000 |
|
Profit |
(429.000) |
57.000 |
(163.000) |
|
|
(3.59%) |
0.36% |
(0.90%) |
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 |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The registered office of the company has been shifted
from 2th Floor, Suryakiran Building, 19 Kasturba Gandhi Marg, New Delhi –
110001, Delhi, India to present address w.e.f. 22.12.2006
BACKGROUND
Subject was
incorporated in India on April 4, 2000. The Company is a subsidiary of Daikin
Industries Limited Japan. 47,292,389 shares are held by Daikin Industries
Limited, Japan and the balance 1 share being held by Daikin Airconditioning
(Singapore) Pte. Limited. The operations of the Company mainly comprise manufacturing
and trading of air conditioning equipment and chillers. The Company’s
manufacturing facility, which is located at Neemrana, Rajasthan, commenced
operation in September, 2009.
FINANCIAL
OVERVIEW
- The Turnover for the year ended March 31, 2014 stood at `18,305 Million as compared to `16,037 Million for the year ended March 31.2013, the Company grew by 14% over previous year. The Company continued penetrating the market.
- The company used the working capital short term loans for a specific period to manage the liquidity of its huge business volumes i.e. the Company adapted to the Short term working capital loans for making foreign currency payments. Total amount of interest paid against short term working capital in FY 13-14 is `49.08 Millions.
- As per the requirements of Accounting Standard 29 on Provisions, Contingent Liabilities and Contingent Assets, a provision of `132.60 Million has been provided for expected warranty claims on products/ projects, sold/commissioned during the financial year.
- The Directors would like to put on record their appreciation to all employees who have made it possible to achieve 14% growth in sales and controlling account receivable to 25 days of sales. The Directors feel gratified that due to team effort of DAIPL all account receivable are good and there is no requirement of making any provision of doubtful debts.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Leasehold Buildings
- Leasehold Improvements
- Plant and Machinery
- Office equipment
- Computers
- Furniture and Fixtures
- Vehicles
- Leasehold Land
- Software’s
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.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKH |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
ART |
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 |
|
--PROFITABILITY |
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.