MIRA INFORM REPORT
|
Report No. : |
345314 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHLE BEHR INDIA PRIVATE LIMITED (w.e.f. 13.02.2015) |
|
|
|
|
Formerly Known
As : |
MAHLE BEHR INDIA LIMITED (w.e.f. 11.03.2014) BEHR INDIA LIMITED |
|
|
|
|
Registered
Office : |
Gat No.626/1/2 and 622/1/0, 29, Milestone, Pune Nashik Highway,
Village Kuruli, Taluka Khed, Pune -
410501, Maharashtra |
|
Tel. No.: |
91-2135-665000/665150 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.04.1997 |
|
|
|
|
Com. Reg. No.: |
11-107619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 290.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1997PTC107619 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB01594F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2186L |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the manufacture and
selling of automotive air-conditioning systems, parts and components thereof,
heat exchanger and ventilation units, engine cooling parts and components
thereof for passenger and commercial vehicles. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject was set up in 1997 as a 60:40 joint venture (JV) between Behr
Holding International GmbH and Asia investment private limited. The company
manufacturers automotive air conditioning systems and engine-cooling systems
(ECS) For the financial year ended 2014, company reported net profit of Rs.
106.700 Million on net sales of Rs. 5938.563 million against net loss of Rs.
48.600 million on net sales of Rs.
5797.252 million for the previous year ended Y 2013. Rating reflects improvement in MBIL’s financial risk profile driven by
increase in cash generation and reduction in gearing ratio. The improvement
in gearing was driven by MBIL’s healthy cash accruals, equity infusion by
promoters and better working capital management. Rating also reflects strong managerial and technical support that
company receives from its joint venture partners. In view of aforesaid, the company can be considered good for normal
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
August 29, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
August 29, 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
31-03-2015.
INFORMATION PARTED BY
Management non co-operative (Tel. No.: 91-2135-665012)
LOCATIONS
|
Registered Office : |
Gat No.626/1/2 and 622/1/0, 29, Milestone, Pune Nashik Highway,
Village Kuruli, Taluka Khed, Pune -
410501, Maharashtra, India |
|
Tel. No.: |
91-2135-665000/665150 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Works : |
Located at :
|
DIRECTORS
AS ON 29.08.2014
|
Name : |
Mr. Deep Chand Anand |
|
Designation : |
Director |
|
Address : |
1, Shri Aurobindo Marg, New Delhi – 110016, India |
|
Date of Birth/ Age : |
26.08.1933 |
|
Date of Appointment : |
13.05.1997 |
|
DIN No.: |
00090123 |
|
|
|
|
Name : |
Mr. Sunil Prem Nath Kaul |
|
Designation : |
Managing Director |
|
Address : |
House No.8, Atul Excellency, SR No.207, 2 Kaspate Vasti, Wakad, Pune – 411027, Maharashtra, India |
|
Date of Birth/ Age : |
13.08.1959 |
|
Qualification : |
B.E.(Mechanical), AMIE (Electrical) |
|
Experience : |
33Years |
|
Date of Appointment : |
15.12.2014 |
|
PAN No.: |
ABKPK4349K |
|
DIN No.: |
00110549 |
|
|
|
|
Name : |
Colin Leslie Carter |
|
Designation : |
Director |
|
Address : |
IM, Dorn 12, Beilstein-7171, Germany |
|
Date of Birth/ Age : |
19.11.1955 |
|
Qualification : |
Master of Business Administration |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
02820523 |
|
|
|
|
Name : |
Mr. Deepak Ramnath Chopra |
|
Designation : |
Director |
|
Address : |
H.No.7 and 8, Anfilco Housing Colony, Anand Farm Palam Gurgaon Road, Dundhahera, Gurgaon – 122016, Haryana, India |
|
Date of Birth/ Age : |
25.12.1954 |
|
Qualification : |
C.A, C.S, ICWA |
|
Date of Appointment : |
29.09.2009 |
|
DIN No.: |
00028770 |
|
|
|
|
Name : |
Joerg Joachim Schernikau |
|
Designation : |
Director |
|
Address : |
IM Langen Han 10, Stuttgart-70565, Germany |
|
Date of Birth/ Age : |
22.03.1968 |
|
Qualification : |
PhD in Mechanical Engineering, Postgraduate Degree in Economics, Diploma in Electrical Engineering |
|
Date of Appointment : |
21.09.2011 |
|
DIN No.: |
05169758 |
|
|
|
|
Name : |
Michael Karl Frick |
|
Designation : |
Director |
|
Address : |
Taubenweg, Stolberg RHLD, Stolberg-52223, Germany |
|
Date of Birth/ Age : |
28.05.1966 |
|
Qualification : |
Diploma in Business Administration |
|
Date of Appointment : |
21.09.2011 |
|
DIN No.: |
05182617 |
|
|
|
|
Name : |
Arul Kumar Palani |
|
Designation : |
Director |
|
Address : |
A2-1104, Prism Apartments, Behind Spicer College, Aundh, Pune –
411007, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1962 |
|
Qualification : |
Post Graduate engineer |
|
Date of Appointment : |
26.08.2013 |
|
DIN No. : |
06459244 |
|
|
|
|
Name : |
Bernd Hans Leimbach |
|
Designation : |
Director |
|
Address : |
Torfweg Ortsteil, Stangengrun, Kirchberg, Stolberg, Germany |
|
Date of Birth/Age : |
24.11.1956 |
|
Date of Appointment : |
19.06.2013 |
|
DIN No. : |
06605737 |
|
|
|
|
Name : |
Joerg Josef Stratmann |
|
Designation : |
Director |
|
Address : |
Schottstr Stuttgart, Germany 70192 |
|
Date of Birth/Age : |
02.06.1969 |
|
Date of Appointment : |
28.08.2013 |
|
DIN No. : |
02549163 |
|
|
|
|
Name : |
Ramesh Sundararajan |
|
Designation : |
Director Appointed In Casual Vacancy |
|
Address : |
No. 13, Alamelu Manga Puram, Mylapore, Chennai – 600004, Tamil Nadu, India |
|
Date of Appointment : |
27.05.2015 |
|
DIN No. : |
05183979 |
KEY EXECUTIVES
|
Name : |
Paras Ghanshyam Lalwani |
|
Designation : |
CFO |
|
Address : |
C- 501, Rajaveer Palace Phase 2,, Kunal Icon road, Pimple Saudagar,, Pune, 411027, Maharashtra, India |
|
Date of Appointment : |
16.09.2014 |
|
PAN No.: |
ABAPL7695K |
|
|
|
|
Name : |
Kalpana Shridhar Regunta |
|
Designation : |
Secretary |
|
Address : |
Plot No 297, Sector 27, Pradhikaran, Nigdi, Pune, 411044, Maharashtra, India |
|
Date of Appointment : |
06.12.2013 |
|
PAN No.: |
ALZPR0763R |
MAJOR SHAREHOLDERS
AS ON 29.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Behr Holding International GmbH, Germany |
|
17400000 |
|
Asia Investments Private Limited, |
|
11599995 |
|
Deepak R. Chopra Jointly with R. N. Chopra |
|
1 |
|
K.K. Jaggi Jointly with Deepak Chopra |
|
1 |
|
Pravesh Kumar Srivastava Jointly with K.K. Jaggi |
|
1 |
|
Mahendra Daulatram Goyal Jointly with K.K. Jaggi |
|
1 |
|
Ramni V. N. Sood Jointly with V. N. Sood |
|
1 |
|
|
|
|
|
Total |
|
29000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.08.2014
|
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 |
60.00 |
|
Bodies corporate |
40.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the manufacture and selling
of automotive air-conditioning systems, parts and components thereof, heat
exchanger and ventilation units, engine cooling parts and components thereof
for passenger and commercial vehicles. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
Pune, Maharashtra, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 29.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34100000 |
Equity Shares |
Rs.10/- each |
Rs. 341.000 Million |
|
1000000 |
Preference Shares |
Rs. 100/- each |
Rs. 100.000 Million |
|
|
Total |
|
Rs. 441.00
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29000000 |
Equity Shares |
Rs.10/- each |
Rs. 290.000
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 |
290.000 |
271.000 |
241.000 |
|
(b) Reserves & Surplus |
739.357 |
526.624 |
405.230 |
|
(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) |
1029.357 |
797.624 |
646.230 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
68.750 |
97.272 |
221.000 |
|
(b) Deferred tax liabilities (Net) |
89.616 |
61.277 |
15.760 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
33.780 |
|
(d) long-term
provisions |
16.398 |
15.479 |
0.000 |
|
Total Non-current
Liabilities (3) |
174.764 |
174.028 |
270.540 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
808.806 |
1212.602 |
857.330 |
|
(b) Trade
payables |
971.666 |
838.694 |
1050.600 |
|
(c) Other
current liabilities |
439.224 |
426.069 |
753.800 |
|
(d) Short-term
provisions |
252.999 |
179.261 |
96.150 |
|
Total Current
Liabilities (4) |
2472.695 |
2656.626 |
2757.880 |
|
|
|
|
|
|
TOTAL |
3676.816 |
3628.278 |
3674.650 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
894.966 |
926.422 |
872.050 |
|
(ii)
Intangible Assets |
143.599 |
198.192 |
234.060 |
|
(iii)
Capital work-in-progress |
23.732 |
8.071 |
33.530 |
|
(iv)
Intangible assets under development |
92.112 |
67.197 |
74.120 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
30.799 |
2.199 |
0.000 |
|
(d) Long-term Loan and Advances |
193.838 |
184.982 |
210.850 |
|
(e) Other
Non-current assets |
11.456 |
7.136 |
9.460 |
|
Total Non-Current
Assets |
1390.502 |
1394.199 |
1434.070 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
545.950 |
585.312 |
785.380 |
|
(c) Trade
receivables |
1105.051 |
1106.176 |
954.280 |
|
(d) Cash
and cash equivalents |
128.943 |
91.067 |
76.830 |
|
(e)
Short-term loans and advances |
386.108 |
331.115 |
336.620 |
|
(f) Other
current assets |
120.262 |
120.409 |
87.470 |
|
Total
Current Assets |
2286.314 |
2234.079 |
2240.580 |
|
|
|
|
|
|
TOTAL |
3676.816 |
3628.278 |
3674.650 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
5846.639 |
5773.833 |
5773.830 |
|
|
Other Income |
91.924 |
23.419 |
23.430 |
|
|
TOTAL |
5938.563 |
5797.252 |
5797.260 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3711.947 |
3769.371 |
3769.360 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9.975 |
5.905 |
5.900 |
|
|
Employees benefits expense |
610.470 |
527.716 |
527.720 |
|
|
Other expenses |
1007.112 |
1086.390 |
1079.550 |
|
|
TOTAL |
5339.504 |
5389.382 |
5382.530 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
599.059 |
407.870 |
414.730 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
156.641 |
148.583 |
155.440 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
442.418 |
259.287 |
259.290 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
291.704 |
267.057 |
267.060 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
150.714 |
(7.770) |
(7.770) |
|
|
|
|
|
|
|
Less |
TAX |
43.981 |
40.827 |
40.830 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
106.733 |
(48.597) |
(48.600) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
190.137 |
125.535 |
267.290 |
|
|
TOTAL EARNINGS |
190.137 |
125.535 |
267.290 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.002 |
0.002 |
0.002 |
|
|
TOTAL IMPORTS |
0.002 |
0.002 |
0.002 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.68 |
(1.68) |
(1.68) |
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 flow from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.83 |
(0.84) |
(0.84) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.25 |
7.06 |
7.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.27 |
(0.22) |
(0.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
(0.01) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85 |
1.64 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.84 |
0.81 |
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 |
241.000 |
271.000 |
290.000 |
|
Reserves & Surplus |
405.230 |
526.624 |
739.357 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
646.230 |
797.624 |
1029.357 |
|
|
|
|
|
|
long-term borrowings |
221.000 |
97.272 |
68.750 |
|
Short term borrowings |
857.330 |
1212.602 |
808.806 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1078.330 |
1309.874 |
877.556 |
|
Debt/Equity
ratio |
1.669 |
1.642 |
0.853 |
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 |
5773.830 |
5773.833 |
5846.639 |
|
|
|
0.000 |
1.261 |
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 |
5773.830 |
5773.833 |
5846.639 |
|
Profit |
(48.600) |
(48.597) |
106.733 |
|
|
(0.84%) |
(0.84%) |
1.83% |
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 |
No |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 30/10/2013 |
|
|
|
Main
Matter Reg. No.:- ITXA/2440/2013 Reg. Date :- 20/12/2013 |
|
Petn. Adv : TEJVEER SINGH MASTAN SINGH (I3678)
Resp. Adv.:- SANJIV M SHAH (0) District: PUNE |
|
Status: PRE-ADMISSION
Category: TAX APPEALS
Next Date: 26/10/2015 Stage:
FOR ADMISSION Last Coram: HON’BLE SHRI JUSTICE M.S. SANKLECHA HON’BLE SHRI JUSTICE G.S. KULKARNI |
|
Act: Income Tax Act, 1961 UNDER SECTION: 260A |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Borrowing from foreign companies |
0.000 |
14.008 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Invoice discounting with banks |
117.317 |
229.857 |
|
PO financing with banks |
30.000 |
27.818 |
|
Short term loans |
0.000 |
50.000 |
|
Borrowings from related parties |
0.000 |
50.000 |
|
Total |
147.317 |
371.683 |
|
|
|
|
CORPORATE INFORMATION
Subject is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956(“the Act”). The Company is primarily engaged in the manufacture and selling of automotive air-conditioning systems, parts and components thereof, heat exchanger and ventilation units, engine cooling parts and components thereof for passenger and commercial vehicles. The Company caters to both domestic and international markets. The Company also has an engineering services division, which is involved in providing product design services to Mahle Behr group companies. The CIN number of the Company is U34300PN1997PLC107619.
Pursuant to a resolution passed at the extra ordinary general meeting of the Company held on February 12, 2014, and receipt of fresh certificate of incorporation dated March 11, 2014 from the register of companies, the name of the Company was changed from “Behr India Limited” to “Mahle Behr India Limited”.
BRIEF INTRODUCTION
MAHLE with its two business units Engine Systems and Components as well as Filtration and Engine Peripherals,
ranks among the top three systems suppliers worldwide. The Behr Group was integrated into the MAHLE Group at the start of 2014 and makes up the Thermal Management business unit. Consequently, MAHLE also ranks among the leading OEMs worldwide in vehicle air conditioning and engine cooling. All of the Group’s nonautomotive activities are combined in the Industry business unit with products from the application areas of filtration, thermal management, and large engines for industrial purposes. The Aftermarket business unit serves the independent spare parts market with MAHLE products in OE quality.
MAHLE has a local presence in all major world markets. In 2014, some 64,000 employees at over 140 production
locations and ten major research and development centers are expected to generate sales of around ten billion euros.
PERFORMANCE
The Company registered turnover of Rs 5846.620 Million, during the year, as compared to Rs. 5,773.830 Millions in the previous year. This represents an increase of 1.26 %. Earnings before Interest, Taxation and Depreciation and Amortization (EBITDA) was Rs. 599.07 Million, as compared to Rs. 407.870 Million in the previous year, which represents an increase of 46.80%. Increased sales and keeping cost under control during the year under review helped your Company in registering Profit before Tax (PBT) of Rs. 150.710 Million, as compared to Loss of Rs. (7.770) Million last year, Profit after Tax (PAT) was Rs. 106.730 Million, as compared to Loss of Rs. (48.600) Million.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10470712 |
23/11/2013 * |
200,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B94182227 |
|
2 |
10329806 |
19/11/2013 * |
925,000,000.00 |
ING VYSYA BANK LIMITED |
928, MANTRI CENTRE, F.C. ROAD, PUNE, Maharashtra - 411004, INDIA |
B93643401 |
|
3 |
10317997 |
03/07/2012 * |
775,000,000.00 |
ING VYSYA BANK LIMITED |
928, Mantri Centre,, F.C. Road, Pune, Maharashtra – 411004, INDIA |
B44221828 |
|
4 |
90084946 |
19/11/2013 * |
710,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, MANTRI COURT,39 AMBEDKAR ROAD, PUNE, Maharashtra - 411001, INDIA |
B93962561 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipments
- Factory
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Computer
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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. 65.02 |
|
UK Pound |
1 |
Rs. 99.89 |
|
Euro |
1 |
Rs. 73.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.