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|
%20PRIVATE%20LIMITED%20-%20502393%2009-Apr-2018_files/image002.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20502393%2009-Apr-2018_files/image004.jpg)
%20PRIVATE%20LIMITED%20-%20502393%2009-Apr-2018_files/image005.gif)
MIRA INFORM REPORT
|
Report No. : |
502393 |
|
Report Date : |
09.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ADITYA AUTO PRODUCTS AND ENGINEERING (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 13E, KIADB Industrial Area, Doddaballapur, Bangalore –
561203, Karnataka |
|
Tel. No.: |
91-80-22637000 / 27832955 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
05.07.1996 |
|
|
|
|
Com. Reg. No.: |
08-020766 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 55.631 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35204KA1996PTC020766 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA7045H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The
company is engaged in the business of manufacturing and sale of automotive
components. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2040000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1996. It is a manufacturer of doors
and access systems for automotive original equipment manufacturers. It also
manufactures wiring harness assemblies, stamped and plastic subassemblies of
door and access systems, precision moulding parts, and other components for
tier-1 automotive component manufacturers. Ashok Leyland, Force Motors, Mahindra and Mahindra, Maruti Suzuki,
Skoda, Piaggio Vehicles Private Limited, Volkswagen AG, Tata Motors etc. are
the customers of the subject. For the financial year ended 2017, the company has achieved 1.44%
growth in its revenue as compared to the previous year’s revenue and has
gained a low net profit margin. The healthy financial position of the company is marked by sound
networth base, acceptable debt balance sheet profile and average liquidity position. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loans= BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
02.06.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Loans= A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
02.06.2017 |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 09.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-80-27832955)
LOCATIONS
|
Registered Office / Door
and Access Division / Contract Manufacturing Division : |
Plot No. 13E, KIADB Industrial Area, Doddaballapur, Bangalore –
561203, Karnataka, India |
|
Tel. No.: |
91-80-22637000 |
|
Fax No.: |
91-80-27625040 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Wiring Harness and
Integrated Products Division : |
179, Bommasandra Industrial Area, Hosur Road, Bangalore – 560099, Karnataka, India |
|
Tel. No.: |
91-80-27832955 |
|
Fax No.: |
91-80-27831103 |
|
|
|
|
Components Division
and Tool Room : |
23/24, 2nd Phase, Peenya Industrial Area, Bangalore –
560058, Karnataka, India |
|
Tel. No.: |
91-80-28394840 |
|
Fax No.: |
91-80-28394840 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Jayaraman Chandrachudan |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
283, 15th A Cross, Yelahanka New Town, Bangalore – 560064, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.12.1949 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00296405 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jayaraman Ramachandran |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
417, Faculty Quarters, Indian Institute of Management, Bannergh Atta,
Bangalore – 560076, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1957 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2008 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00004593 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. William Robert Byass |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
16, Myrnong Crescent Toorak Victoria 3142, Australia |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.10.1949 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2006 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00279207 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shadakshari Veerendra |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.360, Ramanashree 14th Cross, Sadashiva Nagar, Bangalore – 560080,
Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.06.2016 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00602613 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Uma Jayaraman |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
727, Venkateswara Nilaya, 5th Cross, Yelahanka New Town, Bangalore –
560064, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.12.1956 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.10.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00748403 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Uma Jayaraman |
410600 |
|
C Jayaraman |
4117740 |
|
Mihir Jayaraman |
325000 |
|
Tejas Jayaraman |
325000 |
|
Chandra Mani |
30000 |
|
Shailendra Agarwal |
15000 |
|
Rajesh Nair |
8000 |
|
S.Suresh |
21000 |
|
Pratap Raigopal |
8000 |
|
Prabhakar Manoli |
14000 |
|
Mahesh Babu |
6000 |
|
Satish Kamath |
8000 |
|
M. Hrishikesh |
3000 |
|
M.N. Chaodrasekhar |
3000 |
|
Ramachandra Sahu |
5000 |
|
William R Byass |
124800 |
|
Baskar S |
6000 |
|
Ram Mohan G |
2000 |
|
Jayaraman R A |
4000 |
|
Halappa B |
1000 |
|
Vijaya Krishna K T |
3000 |
|
Ramesh Pai |
3000 |
|
Value Logistics Private Limited (Trf from Prof and Priti) |
120000 |
|
|
|
|
Total |
5563140 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
74.02 |
|
Public/Other than promoters
[Individual/Hindu Undivided Family (Indian)] |
25.98 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20502393%2009-Apr-2018_files/image006.gif)
BUSINESS DETAILS
|
Line of Business : |
The
company is engaged in the business of manufacturing and sale of automotive
components. [Registered Activity] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte Centre, Anchorage II 100/2, Richmond Road, Bangalore – 560025, Karnataka, India |
|
PAN No.: |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Company
: |
·
Rehans Graphics Private Limited
[U22219KA1990PTC011258] |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
· Aditya Essae Auto Components Private Limited ·
Pranav Eximp Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5563140 |
Equity Shares |
INR 10/- each |
INR 55.631 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
55.631 |
58.360 |
58.360 |
|
(b) Reserves & Surplus |
659.964 |
669.173 |
628.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
715.595 |
727.533 |
686.360 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
158.178 |
32.529 |
68.292 |
|
(b) Deferred tax liabilities (Net) |
57.993 |
49.146 |
50.124 |
|
(c) Other long term
liabilities |
13.406 |
30.816 |
27.943 |
|
(d) Long-term
provisions |
14.658 |
7.516 |
8.660 |
|
Total Non-current
Liabilities (3) |
244.235 |
120.007 |
155.019 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
710.021 |
598.534 |
566.273 |
|
(b) Trade
payables |
501.492 |
451.754 |
267.334 |
|
(c) Other
current liabilities |
113.941 |
129.900 |
230.403 |
|
(d) Short-term
provisions |
3.254 |
4.127 |
11.176 |
|
Total Current
Liabilities (4) |
1328.708 |
1184.315 |
1075.186 |
|
|
|
|
|
|
TOTAL |
2288.538 |
2031.855 |
1916.565 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
869.213 |
802.196 |
816.657 |
|
(ii)
Intangible Assets |
1.316 |
2.290 |
3.561 |
|
(iii) Capital
work-in-progress |
17.104 |
73.290 |
65.795 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.984 |
2.984 |
2.984 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
130.014 |
91.025 |
52.565 |
|
(e) Other
Non-current assets |
3.911 |
29.703 |
12.887 |
|
Total Non-Current
Assets |
1024.542 |
1001.488 |
954.449 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
446.890 |
377.184 |
368.692 |
|
(c) Trade
receivables |
363.956 |
317.384 |
331.438 |
|
(d) Cash
and cash equivalents |
17.388 |
11.450 |
24.058 |
|
(e)
Short-term loans and advances |
238.523 |
197.732 |
153.758 |
|
(f) Other
current assets |
197.239 |
126.617 |
84.170 |
|
Total
Current Assets |
1263.996 |
1030.367 |
962.116 |
|
|
|
|
|
|
TOTAL |
2288.538 |
2031.855 |
1916.565 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2469.669 |
2434.713 |
2303.602 |
|
|
Other Income |
20.578 |
7.026 |
18.303 |
|
|
TOTAL |
2490.247 |
2441.739 |
2321.905 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1429.242 |
1374.656 |
1306.602 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(42.089) |
7.050 |
(15.740) |
|
|
Employee benefit expense |
429.982 |
408.036 |
395.800 |
|
|
CSR expenditure |
2.500 |
2.000 |
2.573 |
|
|
Other expenses |
436.327 |
446.885 |
420.047 |
|
|
Exceptional items before tax |
34.006 |
0.000 |
0.000 |
|
|
TOTAL |
2289.968 |
2238.627 |
2109.282 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
200.279 |
203.112 |
212.623 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
106.597 |
85.733 |
82.445 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
93.682 |
117.379 |
130.178 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
68.122 |
64.784 |
66.821 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
25.560 |
52.595 |
63.357 |
|
|
|
|
|
|
|
Less |
TAX |
8.848 |
11.422 |
15.841 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
16.712 |
41.173 |
47.516 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
88.726 |
147.717 |
226.748 |
|
|
TOTAL EARNINGS |
88.726 |
147.717 |
226.748 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
352.919 |
260.989 |
220.579 |
|
|
Capital Goods |
1.910 |
3.861 |
5.844 |
|
|
TOTAL IMPORTS |
354.829 |
264.850 |
226.423 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.00 |
7.05 |
8.14 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
33.945 |
41.556 |
89.355 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
25.930 |
239.530 |
234.702 |
|
Net cash flows from (used in) operating activities |
14.559 |
217.608 |
213.031 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
53.79 |
47.58 |
52.52 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.79 |
7.67 |
6.95 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
128.07 |
119.95 |
74.68 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.45 |
0.54 |
0.58 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.23 |
0.23 |
0.24 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.66 |
0.62 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.26 |
0.92 |
1.05 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.86 |
1.63 |
1.57 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.24 |
1.21 |
1.29 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.88 |
2.37 |
2.58 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
0.68 |
1.69 |
2.06 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.73 |
2.03 |
2.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
2.34 |
5.66 |
6.92 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.95 |
0.87 |
0.89 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.61 |
0.55 |
0.55 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.31 |
0.36 |
0.36 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
16.22 |
11.53 |
12.40 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.95 |
0.87 |
0.89 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
58.360 |
58.360 |
55.631 |
|
Reserves & Surplus |
628.000 |
669.173 |
659.964 |
|
Net
worth |
686.360 |
727.533 |
715.595 |
|
|
|
|
|
|
Long-term borrowings |
68.292 |
32.529 |
158.178 |
|
Short term borrowings |
566.273 |
598.534 |
710.021 |
|
Current maturities of
long-term debts |
89.355 |
41.556 |
33.945 |
|
Total
borrowings |
723.920 |
672.619 |
902.144 |
|
Debt/Equity
ratio |
1.055 |
0.925 |
1.261 |
%20PRIVATE%20LIMITED%20-%20502393%2009-Apr-2018_files/image007.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2303.602 |
2434.713 |
2469.669 |
|
|
|
5.692 |
1.436 |
%20PRIVATE%20LIMITED%20-%20502393%2009-Apr-2018_files/image008.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2303.602 |
2434.713 |
2469.669 |
|
Profit/ (Loss) |
47.516 |
41.173 |
16.712 |
|
|
2.06
% |
1.69
% |
0.68
% |
%20PRIVATE%20LIMITED%20-%20502393%2009-Apr-2018_files/image009.gif)
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
55.631 |
58.360 |
|
(b) Reserves and Surplus |
|
657.389 |
666.654 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
(d) Minority interest |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
713.020 |
725.014 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
158.178 |
32.529 |
|
(b) Deferred tax liabilities (Net) |
|
57.993 |
49.146 |
|
(c) Other long-term
liabilities |
|
13.406 |
30.816 |
|
(d) long-term
provisions |
|
14.658 |
7.516 |
|
Total Non-current
Liabilities (3) |
|
244.235 |
120.007 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
710.021 |
598.534 |
|
(b) Trade payables |
|
501.622 |
451.883 |
|
(c) Other
current liabilities |
|
114.693 |
130.652 |
|
(d) Short-term
provisions |
|
3.254 |
4.127 |
|
Total Current
Liabilities (4) |
|
1329.590 |
1185.196 |
|
|
|
|
|
|
TOTAL |
|
2286.845 |
2030.217 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
870.190 |
803.227 |
|
(ii)
Intangible Assets |
|
1.316 |
2.290 |
|
(iii) Tangible assets
capital work-in-progress |
|
17.104 |
73.290 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term
loans and advances |
|
130.014 |
91.025 |
|
(e) Other
Non-current assets |
|
3.911 |
29.703 |
|
Total Non-Current
Assets |
|
1022.535 |
999.535 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
446.890 |
377.184 |
|
(c) Trade
receivables |
|
363.956 |
317.384 |
|
(d) Cash and bank
balances |
|
17.391 |
11.454 |
|
(e)
Short-term loans and advances |
|
238.833 |
198.043 |
|
(f) Other
current assets |
|
197.240 |
126.617 |
|
Total
Current Assets |
|
1264.310 |
1030.682 |
|
|
|
|
|
|
TOTAL |
|
2286.845 |
2030.217 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
2469.669 |
2434.713 |
|
|
Other Income |
|
20.578 |
7.026 |
|
|
TOTAL |
|
2490.247 |
2441.739 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
1429.242 |
1374.656 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(42.089) |
7.050 |
|
|
Employee benefit expense |
|
429.982 |
408.036 |
|
|
CSR expenditure |
|
2.500 |
2.000 |
|
|
Other expenses |
|
436.329 |
446.887 |
|
|
Exceptional items before tax |
|
34.006 |
0.000 |
|
|
TOTAL |
|
2289.970 |
2238.629 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
200.277 |
203.110 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
106.597 |
85.733 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
93.680 |
117.377 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
68.175 |
64.847 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
25.505 |
52.530 |
|
|
|
|
|
|
|
Less |
TAX |
|
8.848 |
11.422 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
16.657 |
41.108 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
2.99 |
7.04 |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION:
The company is a private limited company, incorporated on 5th July, 1996 under the provisions of the Companies Act, 1956. The company is engaged in the business of manufacturing and sale of automotive components. The company's manufacturing facilities are located in the States of Karnataka, Haryana, Tamilnadu and Maharashtra, of India.
INDUSTRY OUTLOOK:
The Indian Economy has sustained a GDP growth rate of above 7% for the last three years. The financial year 2016-17 began with a conductive business environment. A Pro-growth Macroeconomic policy, low inflation, a normal monsoon and implementation of the 7th Pay commission supported a broad based recovery in consumption demand. Demonetisation, announced in the third quarter, was expected to pull back the consumption recovery to a certain extent.
The passenger vehicle market grew at 9.2% in 2016-17 compared to 7.2% in 2015-16. Growth was broad based with almost half the manufacturers showing improved sales over the previous year. New models were the primary growth drivers during the year. The reduction in lending rates, coupled with banks’ renewed focus on retail loans, also supported growth.
OPERATIONS REVIEW:
The performance of the Company was a diluted reflection of the trend of the Industry with an overall increase of 2% in Sales with steep drop in Export and Significant improvement in domestic sales, on the strength of new products introduced during the year. However, higher Operating costs such as Power, Freight, employee costs and Finance costs pushed the Net profits down. Further, during the financial year ended March 31, 2017, the Company embarked on an initiative of rationalization by transfer of its Labour across its plants, wherein 42 employees of the Company opted for Voluntary Separation with the Intervention of the Labour Department.
FUTURE OUTLOOK:
India’s Automobile Industry has registered modest growth over the recent past. The prospects for the Industry, however, remain positive in the medium term spurred by lower interest rates, near-normal Monsoon and the promise of revival in economic growth.
The Company is geared up to meet the requirements in terms of capacity, products and technology of the Industry. Its focus on strategic areas including Research and Developments and new products is likely to consolidate its position in terms of market share with its strategic customers and embarking on new products.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Other loans and advances |
9.042 |
25.695 |
|
|
|
|
|
Total |
9.042 |
25.695 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C09482282 |
10506313 |
BAJAJ FINANCE LIMITED |
16/05/2014 |
- |
- |
50000000.0 |
AKURDI PUNEPUNEMH411035IN |
|
2 |
G49990799 |
10214784 |
STATE BANK OF INDIA |
26/03/2010 |
09/12/2016 |
- |
403000000.0 |
OVERSEAS BRANCH (6861), NO. 65,ST. MARK'S ROAD, LHO COMPOUND,BANGALOREKA560001IN |
|
3 |
G30013254 |
10010644 |
KOTAK MAHINDRA BANK LIMITED |
29/06/2006 |
09/12/2016 |
- |
495500000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMA400051IN |
|
4 |
G51705796 |
100058979 |
STATE BANK OF INDIA |
13/10/2016 |
- |
24/08/2017 |
403000000.0 |
STATE BANK OF INDIA OVERSEAS BRANCH (6861)NO. 65, ST. MARK'S ROADBANGALOREKA560001IN |
|
5 |
G49495302 |
10410519 |
SKODA AUTO INDIA PRIVATE LIMITED |
15/01/2013 |
- |
24/07/2017 |
22000000.0 |
PLOTNO.A-1/1 SHENDRAFIVESTAR INDUSTRIAL AREA MIDC.AVRANGABADMH431201IN |
|
6 |
G29661519 |
10529040 |
KOTAK MAHINDRA BANK LIMITED |
09/09/2014 |
- |
24/11/2016 |
90000000.0 |
27BKC, C 27, G BLOCKBANDRA KURLA COMPLEX, BANDRA (E),MUMBAIMH400051IN |
|
7 |
B88641295 |
10388469 |
DBS BANK LIMITED |
05/11/2012 |
- |
25/10/2013 |
75000000.0 |
SALARPURIA WINDSOR, NO. 3, OLD NO. 10ULSOOR ROAD, WARD NO. 78BANGALOREKA560042IN |
|
8 |
B59687442 |
10304552 |
VOLKSWAGEN INDIA PRIVATE LIMITED |
17/08/2011 |
- |
08/10/2012 |
20400000.0 |
E -1, MIDC INDUSTRIAL AREA PHASE IIIVILLAGE NIGOJE MHALUNGE KHARABWADI CHAKAN TAL KHEDPUNEMH410501IN |
|
9 |
A90462821 |
10165929 |
HDFC BANK LIMITED |
28/05/2009 |
- |
22/07/2010 |
25000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
10 |
A76219013 |
80057174 |
STANDARD CHARTERED BANK |
12/11/2004 |
- |
31/12/2009 |
50000000.0 |
MG ROADBANGALOREKA560001IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 records 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
|
INR |
|
US Dollar |
1 |
INR 64.99 |
|
|
1 |
INR 90.96 |
|
Euro |
1 |
INR 79.51 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared by
: |
NKT |
SCORE FACTORS
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.