MIRA INFORM REPORT

 

 

Report No. :

338938

Report Date :

02.09.2015

 

IDENTIFICATION DETAILS

 

Name :

MAGNETI MARELLI MOTHERSON AUTO SYSTEM PRIVATE LIMITED (w.e.f.18.04.2015)

 

 

Formally Known as:

MAGNETI MARELLI MOTHERSON AUTO SYSTEM LIMITED

 

 

Registered Office :

2nd Floor, F-7, Block B-1, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi-110 044

Tel No.:

91-11-40555940

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

15.02.2008

 

 

Com. Reg. No.:

55-174123

 

 

Capital Investment / Paid-up Capital :

Rs.1300.000 Million

 

 

CIN No.:

[Company Identification No.]

U31500DL2008PTC174123

 

 

IEC No.:

0507092031

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAFCM4110M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Automotive Lighting Products and Air Intake Manifold Assemblies.

 

 

No. of Employees :

270 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (51)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a 50:50 joint venture between Samvardhana Motherson Group and Magneti Mareli Holding S.P.A., Italy.

 

It is an established company having satisfactory track record.

 

There are accumulated loss recorded by the company during 2014. Profitability of the company also seems to be low.

 

However, the rating takes into consideration joint venture support presence in the automotive industry and strong relationship with original equipment manufacturers (OEMs).

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

In view of strong financial support from its parent company, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

FITCH

Rating

Long Term Issuer Rating = IND A-

Rating Explanation

Have adequate degree of safety and carry moderate credit risk

Date

17.07.2015

 

Rating Agency Name

FITCH

Rating

Non fund based working capital = IND A2+

Rating Explanation

Have strong degree of safety and carry low credit risk

Date

17.07.2015

 

 

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 PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Anupam

Designation :

Finance Manager

Contact No.:

91-9764004753

Date :

27.08.2015

 

 

LOCATIONS

 

Registered Office :

2nd Floor, F-7, Block B-1, Mohan Co-operative Industrial Estate, Mathura Road, New Delhi-110 044, India

Tel No.:

91-11-40555940

Mobile No.:

91-9764004753 (Mr. Anupam)

Fax No.:

Not Available

E-Mail :

corporate@marelli.motherson.com

anupam@marelli.motherson.com

info@motherson.com

Website :

http://www.motherson.com

Location :

Owned

Locality :

Industrial

 

 

Factory 1 :

Gat No.148-150, Village Ambethan, Taluka Khed, Near Dwarka School, Pune-410 501, Maharashtra, India

Tel. No.:

91-2135-675800 / 675824

 

 

Factory 2 :

Plot No.195-196, Sector 1, IMT Manesar, Gurgaon-122 050, Haryana, India

Tel No.:

91-124-2291674

 

 

Factory 3 :

Plot No. E-15 and E-16, Sanand II GIDC, Sanand – II Industrial Estate, Village Hirapur, Taluka Sanand – 382435, Ahmedabad, Gujarat, India

 

 

Corporate Headquarters :

Plot No.1, Sector-127, Noida-Greater Noida, Expressway, Noida 201301, Uttar Pradesh, India

Tel No.:

91-120-6679500 / 6679270 / 91-2135-675824

E-Mail :

info@motherson.com

 

 

Europe Headquarters :

MSSL GmbH, Hailerer StraBe 24, 63571 Gelnhausen, Germany

Tel No.:

49 (0) 6051 – 91524 – 0/49 (0) 6051 – 91524 - 99

E-Mail :

 info@motherson.de

 

 

DIRECTORS

 

As on 11.08.2014

 

Name :

Mr. Ashok Tandon

Designation :

Director

Address :

H1A-141, DLF Westend Heights, Phase – V, Gurgaon – 122 009, Haryana, India

Date of Birth/Age :

20.02.1951

Date of Appointment:

15.02.2008

DIN No.:

00032733

 

 

Name :

Mr. Vivek Chaand Sehgal

Designation :

Director

Address :

22, Gwin Gana Crescent, Glen Waverly, Victoria 3150

Date of Birth/Age :

28.09.1956

Date of Appointment :

16.04.2008

DIN No.:

00291126

 

 

Name :

Mr. Saju Mookken

Designation :

Director

Address :

6411, F - 6, Alok Vihar 2, Sector 50, Noida - 201 303, Uttar Pradesh, India

Date of Birth/Age :

20.05.1969

Date of Appointment :

16.04.2008

DIN No.:

01644940

 

 

Name :

Ermanno Ferrari

Designation :

Director

Address :

Corso Turati 70, Colleffrro, Italy

Date of Birth/Age :

02.01.1956

Date of Appointment :

20.09.2011

Din No.:

03643407

 

 

Name :

Mr. Vivek Awasthi

Designation :

Director

Address :

B-1/6, Vasant Vihar, New Delhi-110057, India

Date of Birth/Age :

10.11.1961

Date of Appointment :

02.08.2013

Din No.:

00033876

 

 

Name :

Mr. Alberto Montanari

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Vishal Swaruphyam Kabadi

Designation :

Manager

Address :

3, Swarup, 260/1, Shahik Park, Baner, Pune – 411 007, Maharashtra, India

Date of Birth/Age :

26.12.1978

Date of Appointment :

01.04.2010

Pan No.:

ABIPK5285A

 

 

Name :

Mr. Devinder Kumar

Designation :

Chief Finance Officer

Address :

A5/26, Comfort Zone, Balewadi, Pune - 411045, Maharashtra, India

Date of Appointment :

05.02.2015

Pan No.:

AFMPK5342Q

 

 

Name :

Mr. Anupam

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS

 

As on 11.08.2014

 

Names of Shareholders

 

No. of Equity Shares

No. of Preference  Shares

Magneti Marelli Motherson India Holdings BV, Netherlands

3799994

34200000

Ashok Tandon

1

--

Gianpaolo Accossato

1

--

Fabrizio Righetti

1

--

Mookken Saju

1

--

Vivek Avasthi

1

--

Vivek Chaand Sehgal

1

--

Magneti Marelli S.P.A., Italy

--

49000000

Samvardhana Motherson International Limited, India

--

49000000

TOTAL

3800000

132200000

 

As on 20.10.2014

 

Names of Allottees

 

No. of Equity Shares

Magneti Marelli S.P.A., Italy

2000000

Samvardhana Motherson International Limited, India

2000000

TOTAL

4000000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 11.08.2014

 

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]

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacture of Automotive Lighting Products and Air Intake Manifold Assemblies.

 

 

Products :

Product Description

Item Code

Air Intake Manifold

8708000

Lamps

85122020

Pedal Box Assembly

82051000

 

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Lighting Product

Countries :
  • Italy

 

 

Imports :

 

Products :

Raw Material

Countries :
  • China
  • Japan

 

 

Terms :

 

Selling :

Cash, Advance Payment and Cheque

 

 

Purchasing :

Cash, Advance Payment and Cheque

 

 

PRODUCTION STATUS-NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Retailers and End Users

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

270 [Approximately]

 

 

Bankers :

Banker Name

Axis Bank Limited

Branch Address

S. No. 186, CTS No. 3189, Opposite PCMC, Auditorium, Near Tata Motors, Station Road, Chinchwad, Pune-411033, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOAN

 

Particulars

As on 31.03.2014

[Rs. in Million]

As on 31.03.2013

[Rs. in Million]

LONG TERM BORROWINGS

 

 

Term loans from banks

29.250

63.750

 

 

 

SHORT TERM BORROWINGS

 

 

Rupee term loans from banks

37.264

0.471

Other loans and advances

36.171

87.356

TOTAL

102.685

151.577

 

Auditors :

 

Name :

Deloitte Haskins and Sells

Chartered Accountant 

Address :

706, B Wing, 7th Floor, ICC Trade Tower, International Convention Center, Senapati Bapat Road, Pune-411016, Maharashtra, India

Tel. No.:

91-20-66244600

Fax No.:

91-20-66244605

PAN No:

AACFD4815A

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Magneti Marelli Motherson India Holding B.V.

 

 

Associates :
  • Automotive Lighting Italia SPA
  • Automotive Lighting Rear Lamps France SAS
  • Calsonic Kansei Motherson Auto Products Limited
  • Magneti Marelli Powertrain SPA [MMP SPA]
  • Magneti Marelli Mako Electric Sanayi Ve Ticarat A.S. [MAKO]
  • Motherson Air Travel Agencies Limited [MATA]
  • Motherson Auto Ltd [MAL]
  • Motherson Moulds and Diecasting Ltd [MMDL]
  • Motherson Sumi Infotech and Designs Limited [MIND]
  • Motherson Sumi Systems Limited [MSSL]
  • MSSL Polymers GmbH [MSSL GMBH]
  • Anest Iwata Motherson Limited
  • Samvardhana Mother son International Limited [SMIL] (earlier known as Samvardhana Motherson Finance Limited [SMFL]
  • Sistemi Comandi Mecanici [SCM]
  • SMR Automotive Systems India Limited
  • Woco Motherson Elastomer Limited [WMEL]
  • Magneti Marelli India Pvt. Limited
  • Motherson Lease Solutions Limited (Earlier Known as Style Motors Limited)
  • Magneti Marelli SPA [MMH SPA]
  • Automotive Lighting Brotterode GMBH
  • Automotive Lighting China
  • Automotive Lighting Gmbh (Reutlingen) [AL GMBH]
  • Automotive Lighting Malaysia [ALMA]
  • Automotive Lighting Japan
  • Automotive Lighting Polaska Sp Z.o.o
  • Automotive Lighting Rear Lamps Italia Spa
  • Automotive Lighting, LLC North America

 

 

CAPITAL STRUCTURE

 

After 11.08.2014

 

Authorised Capital : Rs. 1500.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 1500.000 Million

 

 

As on 11.08.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

3800000

Equity Shares

Rs.10/- each

Rs.38.000 Million

146200000

Preferences Shares

Rs.10/- each

Rs.1462.000 Million

 

TOTAL

 

Rs.1500.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

3800000

Equity Shares

Rs.10/- each

Rs. 38.000 Million

132200000

Preferences Shares

Rs.10/- each

Rs. 1322.000 Million

 

TOTAL

 

Rs. 1360.000 Million

 

 

As on 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

3800000

Equity Shares

Rs.10/- each

Rs. 38.000 Million

146200000

Preferences Shares

Rs.10/- each

Rs. 1462.000 Million

 

TOTAL

 

Rs. 1500.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

3800000

Equity Shares

Rs.10/- each

Rs. 38.000 Million

126200000

Preferences Shares

Rs.10/- each

Rs. 1262.000 Million

 

TOTAL

 

Rs. 1300.000 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

1300.000

1150.000

1120.000

(b) Reserves & Surplus

(595.363)

(610.074)

(575.133)

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

30.000

50.000

0.000

Total Shareholders’ Funds (1) + (2)

734.637

589.926

544.867

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

29.250

63.750

142.750

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

2.312

2.191

2.159

(d) Long-term provisions

4.341

3.192

1.344

Total Non-current Liabilities (3)

35.903

69.133

146.253

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

158.435

87.827

44.799

(b) Trade payables

291.476

288.010

333.232

(c) Other current liabilities

261.857

374.404

160.040

(d) Short-term provisions

0.177

0.195

0.144

Total Current Liabilities (4)

711.945

750.436

538.215

 

 

 

 

TOTAL

1482.485

1409.495

1229.335

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

679.337

592.843

531.314

(ii) Intangible Assets

16.259

11.831

3.163

(iii) Capital work-in-progress

19.630

41.462

28.784

(iv) Intangible assets under development

7.154

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

49.688

53.814

54.891

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

772.068

699.950

618.152

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

244.366

260.047

199.412

(c) Trade receivables

167.304

186.504

157.304

(d) Cash and cash equivalents

2.531

8.170

2.928

(e) Short-term loans and advances

281.250

249.537

245.398

(f) Other current assets

14.966

5.287

6.141

Total Current Assets

710.417

709.545

611.183

 

 

 

 

TOTAL

1482.485

1409.495

1229.335

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

1930.262

1655.992

1257.991

 

 

Other Income

4.186

24.844

9.628

 

 

TOTAL                                     (A)

1934.448

1680.836

1267.619

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

1377.251

1336.819

976.731

 

 

Employee benefit expense

7.483

129.565

95.218

 

 

Other expenses

147.059

206.539

161.970

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

248.240

(84.259)

36.313

 

 

TOTAL                                     (B)

1780.033

1588.664

1270.232

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

154.415

92.172

(2.613)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

28.732

39.428

56.423

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

125.683

52.744

(59.036)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

110.972

87.684

72.341

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                (G)

14.711

(34.940)

(131.377)

 

 

 

 

 

Less

TAX                                                                  (H)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

14.711

(34.940)

(131.377)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

(610.074)

(575.134)

(443.757)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(595.363)

(610.074)

(575.134)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

140.173

75.166

102.523

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

301.399

340.480

 

 

Components and Spare Parts

 

182.254

42.585

 

 

Capital Goods

 

42.537

117.750

 

TOTAL IMPORTS

NA

526.190

500.815

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

3.87

(9.19)

(34.57)

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

2070.000

 

 

Expected Sales (2015-2016) : Rs. 2500.000 Million

 

The above information has been parted by Mr. Anupam (Finance Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

50.125

94.625

76.000

Cash generated from operations

0.000

0.000

0.000

Net cash flow from operating activity

12.226

15.046

(28.854)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

0.76

(2.11)

(10.44)

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

8.00

5.57

(0.21)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.01

(2.55)

(10.94)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.02

(0.06)

(0.24)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.32

0.42

0.48

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.00

0.95

1.14

 

 

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

1120.000

1150.000

1300.000

Reserves & Surplus

(575.133)

(610.074)

(595.363)

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

50.000

30.000

Net worth

544.867

589.926

734.637

 

 

 

 

long-term borrowings

142.750

63.750

29.250

Short term borrowings

44.799

87.827

158.435

Current Maturities of Long-Term Debts

76.000

94.625

50.125

Total borrowings

263.549

246.202

237.810

Debt/Equity ratio

0.484

0.417

0.324

 

 

 

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

1257.991

1655.992

1930.262

 

 

31.638

16.562

 

 

 

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

1257.991

1655.992

1930.262

Profit

(131.377)

(34.940)

14.711

 

(10.44%)

(2.11%)

0.76%

 

 

 

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

Yes

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)

Yes

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

Yes

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

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted From 3rd Floor, 43, Community Centre Bhageria House, New Friends Colony, New Delhi – 110025, India to the present address w.e.f. 14.01.2009.

 

 

OPERATIONAL PERFORMANCE

 

During the year, the total income of the company is Rs 1934.448 Million as against Rs 1680.836 Million in the previous year and profit before tax is Rs 14.711 Million as against loss before tax (Rs. 34.940 Million) in the previous year.

 

 

UNSECURED LOAN

 

Particulars

As on 31.03.2014

[Rs. in Million]

As on 31.03.2013

[Rs. in Million]

SHORT TERM BORROWINGS

 

 

Other loans and advances, Others

85.000

0.000

TOTAL

85.000

0.000

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10246606

23/09/2010

30,000,000.00

VOLKSWAGEN INDIA PRIVATE LIMITED

E -1, MIDC INDUSTRIAL AREA PHASE III, VILLAGE NIG 
OJE MHALUNGE KHARABWADI CHAKAN TAL KHED, PUNE, Maharashtra  - 410501, INDIA

A97048169

2

10238312

31/07/2010

45,000,000.00

VOLKSWAGEN INDIA PRIVATE LIMITED

E -1, MIDC INDUSTRIAL AREA PHASE III, VILLAGE NIG 
OJE MHALUNGE KHARABWADI CHAKANTAL KHED, PUNE, Maharashtra - 410501, INDIA

A93982775

3

10135986

21/04/2015 *

875,000,000.00

Axis Bank Limited

Corporate Banking Branch,214/215,City Mall, 2nd, Floor, Plot No.1,S.No.132, Ganesh hind Road, Pune, 
Maharashtra - 411007, INDIA

C53477261

 

* Date of charge modification

 

 

FIXED ASSETS:

 

  • Plant  and machinery
  • Electrical Installation / Instruments
  • Tools and Dies
  • Factory Equipments
  • Office Equipments
  • Furniture and Fixtures
  • Computers
  •  Vehicles

 

 

 

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.66.26

UK Pound

1

Rs.101.99

Euro

1

Rs.74.78

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SUJ

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY 

1~10

4

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

2--RESERVES

1~10

4

--CREDIT LINES

1~10

6

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

51

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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

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