|
|
|
MIRA INFORM REPORT
|
Report No. : |
501934 |
|
Report Date : |
09.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
INA BEARINGS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-3, Talegaon Industrial Area and Floriculture Park, Village
Ambi, Navlakh Umbhre, Taluka Maval,
Pune – 410507, Maharashtra |
|
Tel. No.: |
91-20-30614100/04/ 24/ 31 / 68/ 39 |
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Country : |
India |
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Financials (as
on) : |
31.12.2016 |
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Date of
Incorporation : |
23.09.1997 |
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Com. Reg. No.: |
11-015240 |
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Capital
Investment / Paid-up Capital : |
INR 533.968 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1997PTC015240 |
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IEC No.: [Import-Export Code No.] |
3197032462 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAACI7163H1ZI |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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TIN No.: |
27490336802 |
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PAN No.: [Permanent Account No.] |
AAACI7163H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing, development, trading and distribution of roller bearings and engine components. (Registered Activity) |
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No. of Employees
: |
Information declined 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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 5700000 |
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|
|
+Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘INA Beteiligungsverwaltungs GmbH, Germany and was incorporated in the year 1997. The company is engaged in manufacturing and exporting bearing products and related products.
India. |
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 |
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
31-03-2018.
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 DECLINED
Management non-cooperative (Tel. No.: 91-20-30614100)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. A-3, Talegaon Industrial Area and Floriculture Park, Village
Ambi, Navlakh Umbhre, Taluka Maval,
Pune – 410507, Maharashtra, India |
|
Tel. No.: |
91-20-30614100/04/ 24/ 31 / 68/ 39 |
|
Fax No.: |
91-20-30614362/ 30614308 |
|
E-Mail : |
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|
Website : |
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Branch Office 1
: |
Site No.1, Sri Nrusimha Towers, First Floor, Amruthnagar Main Road, Next
to Sub-registrar’s Office, Konanakunte, Bangalore – 560062, Karnataka, India |
|
Fax No.: |
91-80-42606922 |
|
|
|
|
Branch Office 2
: |
Gahlot Farm House, Opposite: House No.225, Sector No.525, Sector 47,
Gurugram – 122001, Haryana, India |
|
Fax No.: |
91-124-4160601 |
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|
|
|
Branch Office 3
: |
369, Block-K, 2nd Floor, New Alipore, Kolkata – 700053,
West Bengal, India |
|
Tel. No.: |
91-33-40608051 |
|
Fax No.: |
91-33-40608052 |
DIRECTORS
As on 2017
|
Name : |
Mr. Dharmesh Subhash Chandra Arora |
|
Designation : |
Managing Director |
|
Address : |
13 Aarohi Villa, 200 Ft Road, Bopal, Ahmedhabad – 380058, Gujarat, India |
|
Date of Birth/Age : |
08.08.1967 |
|
Qualification : |
BE, MBA |
|
Date of Appointment : |
01.10.2014 |
|
PAN No.: |
ABNPA2632G |
|
DIN No.: |
05350121 |
|
|
|
|
Name : |
Mr. Satish Chunibhai Patel |
|
Designation : |
Director |
|
Address : |
12, Vicenza Highlands, B/H FGI Business Centre, Gotri -Sevasi Road, Vadodara - 391101, Gujarat, India |
|
Date of Birth/Age : |
31.05.1964 |
|
Qualification : |
M. Com, CMA |
|
Date of Appointment : |
17.06.2015 |
|
DIN No.: |
00690869 |
|
|
|
|
Name : |
Mr. Stefan Peter Hermann Bauerreis |
|
Designation : |
Director |
|
Address : |
Zum Kopfwasen 19 D, Herzogenaurach, 91074, Germany |
|
Date of Birth/Age : |
27.12.1972 |
|
Qualification : |
MBA |
|
Date of Appointment : |
17.06.2015 |
|
DIN No.: |
07023516 |
|
|
|
|
Name : |
Preeti Bhushan Shalukar |
|
Designation : |
Additional Director |
|
Address : |
A/6-7, Saritanagari, Ganeshmala Nr. Dattawadi. Pune-411030, Maharashtra, India |
|
Date of Appointment : |
21.08.2017 |
|
DIN No.: |
07910662 |
|
|
|
|
Name : |
Jens Maximilian Reichling |
|
Designation : |
Additional Director |
|
Address : |
Siegfriedstr. 12 80803 Munchen NA DE |
|
Date of Appointment : |
21.08.2017 |
|
DIN No.: |
07908639 |
KEY EXECUTIVE
|
Name : |
Mr. Kevalkumar B Thakkar |
|
Designation : |
Company Secretary |
|
Address : |
20/B, Vithalbaug Society Near Deep Chambers, Manjalpur, Vadodara-390011, Gujarat, India |
|
Date of Appointment : |
15.06.2017 |
|
PAN No.: |
Avept4932h |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2016
|
Names of Shareholders |
|
No. of Shares |
|
INA Beteiligungsverwaltungs GmbH, Germany |
|
30500927 |
|
Industriewerk
Schaeffler INA - Ingenierdienst GmbH, Germany |
|
22895849 |
|
Schaeffler
Beteiligungs Gesellschaft GmbH, |
|
1 |
|
Total |
|
53396777 |
Equity Share Break up (Percentage of Total Equity)
As on 04.04.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing, development, trading and distribution of roller bearings and engine components. (Registered Activity) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Financial Institution : |
Fag Bearings India Limited, Nariman Bhavan 8th
Floorbackbay Reclamation, Nariman Point, Mumbai - 400021, Maharashtra, India |
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|
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
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Income-tax PAN
of auditor or auditor's firm : |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
· INA Beteiligungsverwaltungs GmbH, Germany |
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|
|
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Associates : |
· Egon Von Ruville GmbH, Germany · Fag Bearings India Limited, India · Fag Roller Bearings Private Limited · Schaeffler (Thailand) Company Limited, Thailand · Schaeffler France Sas, France · Schaeffler (Uk) Limited, United Kingdom · Schaeffler Sverige Ab, Sweden · Schaeffler Australia Pty. Limited, Australia · Schaeffler Japan Company Limited, Japan · Wpb Water Pump Bearing GmbH and Company Kg, Germany · Wpb Water Pump Bearing GmbH and Company Kg, Italy · Schaeffler Italia S.R.L., Italy · Schaeffler Nederland B.V., Netherlands · Schaeffler (Singapore) Pte. Limited, Singapore · Industriewerk Schaeffler Ina-Ingenieurdienst Gmbh, Germany · Ina Lanskroun S.R.O., Slovakia · Ina Kysuce Spol. S R.O., Slovakia · Schaeffler Brasil Limiteda, Brazil · Schaeffler Group Usa Inc, United States · Rodisa S.L., Spain · Hydrel Gmbh, Germany · Schaeffler Technologies Gmbh and Company Kg, Germany · Schaeffler Ansan Corporation, Korea, Democratic People's Republic Of · Schaeffler Hong Kong Company Limited, Hong Kong · Luk Gmbh and Company Kg, Germany · Schaeffler Automotive Aftermarket Gmbh and Company Kg, Germany · Schaeffler (China) Company Limited, China · Schaeffler Trading (Shanghai) Company Limited, China · Schaeffler South Africa (Pty) Limited, South Africa · Schaeffler Korea Corporation, Korea, Democratic People's Republic Of · Schaeffler Chain Drive Systems Sas, France · Schaeffler Vietnam Company Limited, Viet Nam · Schaeffler Mexico S. De R.L. De C.V., Mexico · Schaeffler Philippines Inc., Philippines · Schaeffler Bearing Indonesia Pt, Indonesia · Schaeffler Verwaltung Zwei Gmbh, Germany · Schaeffler Beteiligungs Gesellschaft Gmbh, Germany |
CAPITAL STRUCTURE
As on 04.04.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83000000 |
Equity Shares |
INR 10/- each |
INR 830.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
53396777 |
Equity Shares |
INR 10/- each |
INR 533.968 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
533.968 |
533.968 |
533.968 |
|
(b) Reserves &
Surplus |
1457.992 |
772.565 |
556.923 |
|
(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) |
1991.960 |
1306.533 |
1090.891 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1410.000 |
1043.444 |
1548.789 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.060 |
|
(d) long-term provisions |
90.799 |
80.570 |
81.044 |
|
Total Non-current
Liabilities (3) |
1500.799 |
1124.014 |
1629.893 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
54.677 |
219.899 |
0.000 |
|
(b) Trade payables |
1564.532 |
1525.752 |
1372.374 |
|
(c) Other current
liabilities |
739.063 |
1589.947 |
1404.647 |
|
(d) Short-term provisions |
55.709 |
52.532 |
35.462 |
|
Total Current Liabilities
(4) |
2413.981 |
3388.130 |
2812.483 |
|
|
|
|
|
|
TOTAL |
5906.740 |
5818.677 |
5533.267 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2077.120 |
1866.810 |
1606.541 |
|
(ii) Intangible Assets |
5.290 |
5.453 |
5.101 |
|
(iii) Capital
work-in-progress |
140.965 |
216.600 |
334.415 |
|
(iv) Intangible assets
under development |
3.398 |
0.000 |
0.459 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
152.761 |
243.751 |
252.926 |
|
(d) Long-term Loan and Advances |
347.927 |
336.051 |
110.765 |
|
(e) Other Non-current
assets |
5.000 |
5.000 |
5.134 |
|
Total Non-Current Assets |
2732.461 |
2673.665 |
2315.341 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
81.850 |
|
(b) Inventories |
1572.074 |
1505.892 |
1226.528 |
|
(c) Trade receivables |
1280.154 |
1123.420 |
1252.656 |
|
(d) Cash and cash
equivalents |
37.656 |
79.198 |
262.093 |
|
(e) Short-term loans and
advances |
284.249 |
436.299 |
394.383 |
|
(f) Other current assets |
0.146 |
0.203 |
0.416 |
|
Total Current Assets |
3174.279 |
3145.012 |
3217.926 |
|
|
|
|
|
|
TOTAL |
5906.740 |
5818.677 |
5533.267 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
|
SALES |
|
|
|
|
|
Income |
10417.880 |
9048.213 |
8308.765 |
|
|
Other Income |
28.233 |
28.478 |
148.444 |
|
|
TOTAL |
10446.113 |
9076.691 |
8457.209 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4231.724 |
4063.543 |
3609.779 |
|
|
Purchases of
Stock-in-Trade |
3073.019 |
2604.766 |
2337.249 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(111.303) |
(137.638) |
11.365 |
|
|
Employees benefits
expense |
763.656 |
758.116 |
708.926 |
|
|
CSR Expenditure |
2.788 |
0.000 |
0.000 |
|
|
Other expenses |
996.988 |
1007.167 |
815.836 |
|
|
TOTAL |
8956.872 |
8295.954 |
7483.155 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1489.241 |
780.737 |
974.054 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
192.862 |
162.729 |
179.919 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
1296.379 |
618.008 |
794.135 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
299.505 |
298.016 |
310.010 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
996.874 |
319.992 |
484.125 |
|
|
|
|
|
|
|
Less |
TAX |
311.447 |
94.179 |
137.716 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
685.427 |
225.813 |
346.409 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
487.058 |
271.416 |
(74.993) |
|
|
|
|
|
|
|
|
Other
additions to reserves |
0.000 |
(10.171) |
0.000 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
1172.485 |
487.058 |
271.416 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
213.402 |
355.142 |
260.917 |
|
|
TOTAL EARNINGS |
213.402 |
355.142 |
260.917 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2550.038 |
2732.537 |
2567.267 |
|
|
Components and Stores
parts |
3073.019 |
2604.766 |
2337.255 |
|
|
Capital Goods |
426.852 |
185.236 |
224.052 |
|
|
TOTAL IMPORTS |
6049.909 |
5522.539 |
5128.574 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
12.84 |
4.23 |
6.66 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Maturities of Long term debt |
389.116 |
1262.849 |
1090.486 |
|
Net cash flows from (used in) operations |
1514.506 |
596.329 |
711.286 |
|
Net cash flows from (used in) operating activities |
1233.368 |
317.102 |
586.234 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
44.85 |
45.32 |
55.03 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
8.14 |
8.05 |
6.63 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
78.18 |
83.51 |
84.23 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.95 |
0.52 |
0.79 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.67 |
0.37 |
0.50 |
LEVERAGE RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.71 |
0.98 |
0.99 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.93 |
1.93 |
2.42 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.21 |
2.59 |
2.58 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.12 |
1.60 |
1.78 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
7.72 |
4.80 |
5.41 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
6.58 |
2.50 |
4.17 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
11.60 |
3.88 |
6.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
34.41 |
17.28 |
31.75 |
SOLVENCY RATIOS
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
31.12.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.31 |
0.93 |
1.14 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.66 |
0.48 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.34 |
0.22 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.47 |
4.73 |
4.94 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.31 |
0.93 |
1.14 |
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 |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
533.968 |
533.968 |
533.968 |
|
Reserves & Surplus |
556.923 |
772.565 |
1457.992 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1090.891 |
1306.533 |
1991.960 |
|
|
|
|
|
|
Long-term borrowings |
1548.789 |
1043.444 |
1410.000 |
|
Short term borrowings |
0.000 |
219.899 |
54.677 |
|
Current Maturities of
Long term debt |
1090.486 |
1262.849 |
389.116 |
|
Total borrowings |
2639.275 |
2526.192 |
1853.793 |
|
Debt/Equity ratio |
2.419 |
1.934 |
0.931 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
8308.765 |
9048.213 |
10417.880 |
|
|
|
8.900 |
15.137 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2014 |
31.12.2015 |
31.12.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
8308.765 |
9048.213 |
10417.880 |
|
Profit / (Loss) |
346.409 |
225.813 |
685.427 |
|
|
4.17% |
2.50% |
6.58% |
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 |
Yes |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
No |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Indo German Technolgy Park, Sr No. 297/298/299, Urawade, Taluka Mulshi, District Pune – 412108, Maharashtra, India to the present address w.e.f. 30.08.2008.
UNSECURED LOAN
|
Particular |
31.12.2016 (INR
in Million) |
31.12.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
560.000 |
543.444 |
|
Total |
560.000 |
543.444 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G36470052 |
100078805 |
FAG BEARINGS INDIA LIMITED |
25/01/2017 |
- |
300000000.0 |
NARIMAN BHAVAN 8TH FLOOR BACKBAY RECLAMATIONNARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
|
2 |
G11370004 |
10448682 |
FAG BEARINGS INDIA LIMITED |
20/08/2013 |
05/08/2016 |
350000000.0 |
NARIMAN BHAVAN 8TH FLOOR BACKBAY RECLAMATIONNARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
|
3 |
C56985120 |
10155672 |
FAG BEARINGS INDIA LIMITED |
13/03/2009 |
02/06/2015 |
500000000.0 |
NARIMAN BHAVAN 8TH FLOOR BACKBAY RECLAMATIONNARIMAN POINT, MUMBAI – 400021, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.12.2016 |
31.12.2015 |
|
Claims against company not acknowledged as debt |
432.232 |
354.908 |
FIXED ASSETS
· Land
· Buildings
· Factory building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer software
WEBSITE DETAILS
NEWS/PRESS RELEASE
SHAREHOLDERS AND CREDITORS
VOTE FOR MERGER OF INA INDIA, LUK INDIA INTO SCHAEFFLER INDIA
Date:23.03.2018
The company has already obtained the no objection clearance from SEBI. The merger is now pending sanction from the NCLT benches in Chennai and Mumbai. Once the merger is effective, it will streamline Schaeffler India operations under one corporate umbrella.
New Delhi: Schaeffler India Limited today announced that the requisite majority of the shareholders and creditors of the Company have voted in favour of the scheme of amalgamation of the two unlisted entities, INA BearingsIndia Private Limited and LuK India Private Limited with Schaeffler India.
Decision of this merger has been taken at their respective meetings held on
March 20, 2018, in line with the NCLT, Mumbai order
and SEBIrequirements, according to a company statement.
The company has also announced that requisite majority of shareholders and creditors of INA India, have also voted in favour of the merger. NCLT Chennai had dispensed with convening the meetings of creditors and shareholders of LuK India.
The company has already obtained the no objection clearance from SEBI. The
merger is now pending sanction from the NCLT benches in Chennai and Mumbai.
Once the merger is effective, it will streamline Schaeffler India operations
under one corporate umbrella.
Under the scheme, after the sanction of NCLT and post completion of other legal
formalities, Schaeffler India shall issue 14.64 million new equity shares, in
the ratio of 10 equity shares to shareholders of INA India, for every 65 equity
shares held and 10 equity shares to shareholders of LuK India, for every 35
equity shares held, thereby increasing its outstanding equity shares to 31.26
million. Shareholding of the promoter group post the merger will be 74.13%.
Dharmesh Arora, Managing Director Schaeffler India said, “The merger is aimed
at leveraging the synergies of the three companies and it will allow us to
combine our strengths to deliver superior value for shareholders and customers.
Once the merger is effective, the combined entity will result in creation of a
leading Indian Automotive and Industrial supplier with approximately Rs 4,000
crore of revenues and around 3,000 employees.
Schaeffler clan eyes share conversion to bolster capital base
‘One Schaeffler’ proposes to realize revenue and cost synergies by bundling
product offerings, leveraging distribution networks and reducing overhead
costs. Higher growth and margin expansion will also create value for all
stakeholders.”
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 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 65.06 |
|
UK Pound |
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
RKI |
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.