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MIRA INFORM REPORT
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Report No. : |
502957 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
FAURECIA INTERIOR SYSTEMS INDIA PRIVATE LIMITED [w.e.f. 10.10.2011] |
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Formerly Known
As : |
FAURECIA TECHNOLOGY CENTER INDIA PRIVATE LIMITED [w.e.f. 19.03.2010] TACO FAURECIA DESIGN CENTER PRIVATE LIMITED |
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Registered
Office : |
Plot No. T-187, Pimpri Industrial Area (B.G. Block), Behind Bhosari Police
Station, Bhosari, Pune – 411026, Maharashtra |
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Tel. No.: |
91-20-66149700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
05.05.2004 |
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Com. Reg. No.: |
11-019215 |
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Capital
Investment / Paid-up Capital : |
INR 40.000 Million |
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CIN No.: [Company Identification
No.] |
U34300PN2004PTC019215 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTN : [Goods & Service Tax
Registration No.] |
27AACCT0275F1ZI |
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TIN No.: |
27110336235 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCT0275F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Manufacture and Supply of interior system components, product & process validation, design & development of tools for original equipment manufacturers and also Providing Computer Aided Design (CAD) and Computer Aided Engineering (CAE) services to group companies and external customers for interior systems components of the automotive industry. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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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 wholly owned subsidiary of “Faurecia Automotive holding S.A, France” and was incorporated in the year 2004. It is having fine track. For the financial year 2017, the company has increased in its revenue from operation as compared to previous year and maintained average profit margin of 2.87%. Rating takes into consideration sound financial profile of the company marked by healthy networth base along with average debt balance sheet. Further, the company also derives strength from its strong holding company support, well established track records of business operation and market position. Trade relations are fair. Payment terms are seems to be regular. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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
31-03-2016.
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 10.04.2018.
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.: 91-20-66149700/ 66149500]
LOCATIONS
|
Registered Office : |
Plot No. T-187, Pimpri Industrial Area (B.G. Block), Behind Bhosari
Police Station, Bhosari, Pune – 411026, Maharashtra, India |
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Tel. No.: |
91-20-30549700/ 66149700 |
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Fax No.: |
91-20-30549800 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Nicolas Pechnyk |
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Designation : |
Director |
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Address : |
480, Rue De Fountaine St. Lucien, Guignecourt 60480 France |
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Date of Birth/Age : |
16.10.1967 |
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Qualification: |
Mech Engineer |
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Date of Appointment : |
05.05.2004 |
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DIN No.: |
00352204 |
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Name : |
Mr. Vidyadhar Madhukar Limaye |
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Designation : |
Director |
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Address : |
Sajjangad Bunglow No. 8, Vaidehi Enclave - Banglow Society Pune, I N Bawdhan, Pune – 411021, Maharashtra, India |
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Date of Birth/Age : |
25.06.1967 |
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Date of Appointment : |
28.10.2013 |
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PAN No.: |
Dummy1234b |
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DIN No.: |
06720053 |
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Name : |
Mr. Yanik Cantieni |
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Designation : |
Director |
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Address : |
10 Rue De La Putelot Louveciennes France 78430 |
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Date of Appointment : |
07.05.2015 |
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DIN No.: |
07176936 |
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Name : |
Mr. Monique Danielou |
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Designation : |
Director |
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Address : |
45 Chemin Du Bois De Serres Dardilly France 69570 |
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Date of Appointment : |
25.08.2016 |
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DIN No.: |
07598024 |
KEY EXECUTIVES
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Name : |
Mr. Shailendra Jain |
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Designation : |
Company Secretary |
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Address : |
H-203, Jasminium Magarpatta City, Hadapsar, Pune – 411028, Maharashtra, India |
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Date of Appointment : |
17.07.2006 |
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PAN No.: |
AAEPJ4310Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
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Names of Shareholders |
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No. of Shares |
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Faurecia Automotive Holding S.A, Belgium |
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3999999 |
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Faurecia Investments SA, France |
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1 |
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Total |
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4000000 |
AS ON: 30.09.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters (Body corporate) |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Manufacture and Supply of interior system components, product & process validation, design & development of tools for original equipment manufacturers and also Providing Computer Aided Design (CAD) and Computer Aided Engineering (CAE) services to group companies and external customers for interior systems components of the automotive industry. [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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
· The Hongkong and Shanghai Banking Corporation LTD. Amar Avinash Corporate City, S. No. 11, Bund Garden Road, Pune - 411001, Maharashtra, India |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants LLP Chartered Accountants |
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E-Mail : |
11 A Vishnu, Digambar Marg, Sucheta Bhawan, Delhi – 110002, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFP3698A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Faurecia Automotive Holdings S.A., France |
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Ultimate Holding Company: |
Peugeot S.A. (France) |
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Fellow Subsidiary company: |
· Faurecia Angell-Demmel Gmbh · Faurecia Argentina S.A. · Faurecia Automotive Do Brasil Ltd · Faurecia Automotive Espana, S.A. · Faurecia Automotive Exteriors Espana Sa · Faurecia Automotive Gmbh · Faurecia Automotive Holdings S.A. · Faurecia Automotive Industrie · Faurecia Automotive Seating B.V. · Faurecia Automotive Seating Canada · Faurecia Automotive Seating India Private Limited · Faurecia Automotive Seating Korea Ltd · Faurecia Automotive Seating UK Ltd. · Faurecia Automotive Seating, LLC · Faurecia Autositze Gmbh · Faurecia Bloc Avant S.A.S.U. · Faurecia Components Pisek S.R.O. · Faurecia E.C.T., Germany GMBH · Faurecia Emission Control Technologies Private Limited · Faurecia Emission Control Technologies Technical Center India Pvt Ltd · Faurecia Emissions Control Systems Korea Y.H. · Faurecia Equipements Automobiles · Faurecia Exteriors Gmbh · Faurecia Grojec R&D Center S.A. · Faurecia Innenraum Systeme Gmbh · Faurecia Interieur Industrie S.A.S. · Faurecia Interieur Systems, Inc · Faurecia Interior Systems (Thailand) Co Ltd · Faurecia Interior Systems salc Espana, S.A. · Faurecia Interior Systems Sweden AB · Faurecia Interior Systems Thailand Co Ltd · Faurecia Interior Systems, Inc. · Faurecia Japan K.K. · Faurecia Kunststoffe Automobil Systeme Gmbh · Faurecia Polifleks Otomot Sanayive Ticaret A.S. · Faurecia Seating Talmaciu S.R.L. · Faurecia Services Groupe S.A.S.U. · Faurecia Shin Sung Co Ltd · Faurecia Sieges D'Automobile S.A. · Faurecia Sistemas Automotrices De Mexico, S.A. De C.V. · Faurecia Slovakia S.R.O. · Faurecia Systèmes D'Echappement S.A.S.U. · Faurecia & Summit Interior Systems (Thailand) Co., Ltd. · Faurecia Trim Korea Limited · Faurecia Walbrzych S.A. · Faurecia (Changchun) Automotive Systems Co Ltd · Faurecia (China) Holding Co. Ltd · Faurecia (Nanjing) Automotive Systems Co., Ltd · Faurecia (Shanghai) Automotive Systems Co., Ltd. · Faurecia (Shanghai) Management Company, Ltd. · Faurecia (Shenyang) Automotive Systems Co., Ltd. · Faurecia (Wuxi) Seating Components Co., Ltd · Sai Automotive Fradley Ltd. · Tecnoconfort, S.A. · Chongqing Guangneng Faurecia Interior Systems Co., Ltd. |
CAPITAL STRUCTURE
AFTER 30.09.2017
Authorised Capital : INR 100.000 Million
Issued, Subscribed & Paid-up Capital : INR 97.143
Million
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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6000000 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
40.000 |
40.000 |
40.000 |
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(b) Reserves and Surplus |
919.080 |
791.039 |
684.421 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
959.080 |
831.039 |
724.421 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
370.000 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
47.695 |
27.215 |
34.697 |
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Total Non-current
Liabilities (3) |
47.695 |
27.215 |
404.697 |
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(4)
Current Liabilities |
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(a) Short-term
borrowings |
1200.512 |
491.341 |
125.735 |
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(b) Trade
payables |
1192.585 |
836.714 |
697.571 |
|
(c) Other
current liabilities |
1455.355 |
446.135 |
119.309 |
|
(d) Short-term
provisions |
83.711 |
73.709 |
43.995 |
|
Total Current
Liabilities (4) |
3932.163 |
1847.899 |
986.610 |
|
|
|
|
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TOTAL |
4938.938 |
2706.153 |
2115.728 |
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II.
ASSETS |
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|
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(1)
Non-current assets |
|
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(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
484.261 |
604.517 |
520.523 |
|
(ii)
Intangible Assets |
1.125 |
3.124 |
4.997 |
|
(iii) Tangible assets
capital work-in-progress |
637.788 |
26.628 |
55.592 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
54.449 |
25.013 |
10.865 |
|
(d)
Long-term loans and advances |
292.998 |
517.697 |
257.144 |
|
(e) Other
Non-current assets |
240.383 |
40.162 |
1.925 |
|
Total Non-Current
Assets |
1711.004 |
1217.141 |
851.046 |
|
|
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(2)
Current assets |
|
|
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|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
584.327 |
137.579 |
108.164 |
|
(c) Trade
receivables |
703.773 |
836.109 |
765.367 |
|
(d) Cash and
bank balances |
39.934 |
95.842 |
32.280 |
|
(e)
Short-term loans and advances |
1557.491 |
255.839 |
291.457 |
|
(f) Other
current assets |
342.409 |
163.643 |
67.414 |
|
Total
Current Assets |
3227.934 |
1489.012 |
1264.682 |
|
|
|
|
|
|
TOTAL |
4938.938 |
2706.153 |
2115.728 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
4461.023 |
3683.600 |
3315.004 |
|
|
Other Income |
42.162 |
60.589 |
26.267 |
|
|
TOTAL |
4503.185 |
3744.189 |
3341.271 |
|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2411.299 |
1808.485 |
1618.021 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(452.704) |
(18.116) |
12.999 |
|
|
Employee benefit expense |
733.330 |
591.382 |
528.849 |
|
|
CSR expenditure |
4.127 |
0.230 |
0.242 |
|
|
Other expenses |
1379.842 |
1023.124 |
985.786 |
|
|
Exceptional items |
(19.753) |
0.000 |
0.000 |
|
|
TOTAL |
4056.141 |
3405.105 |
3145.897 |
|
|
|
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
447.044 |
339.084 |
195.374 |
|
|
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|
|
|
|
Less |
FINANCIAL
EXPENSES |
74.982 |
54.975 |
32.743 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
372.062 |
284.109 |
162.631 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
147.974 |
129.015 |
88.475 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
224.088 |
155.094 |
74.156 |
|
|
|
|
|
|
|
Less |
TAX |
96.047 |
48.476 |
26.698 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
128.041 |
106.618 |
47.458 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
1396.768 |
978.396 |
946.783 |
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
Raw Materials |
49.533 |
80.706 |
49.854 |
|
|
Components and spare
parts |
362.992 |
0.169 |
84.952 |
|
|
Capital Goods |
234.249 |
33.971 |
58.822 |
|
|
TOTAL IMPORTS |
646.774 |
114.846 |
193.628 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
32.01 |
26.66 |
11.86 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
100.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
105.731 |
353.933 |
(95.069) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(11.001) |
310.988 |
(139.245) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
57.58 |
82.85 |
84.27 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.34 |
4.41 |
4.33 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
180.52 |
168.87 |
157.36 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.77 |
2.46 |
1.81 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.40 |
0.53 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.80 |
0.72 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.25 |
0.71 |
0.68 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
4.10 |
2.22 |
1.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.17 |
0.76 |
0.80 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.96 |
6.17 |
5.97 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.87 |
2.89 |
1.43 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.59 |
3.94 |
2.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.35 |
12.83 |
6.55 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.82 |
0.81 |
1.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.67 |
0.73 |
1.17 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.19 |
0.31 |
0.34 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
30.01 |
14.78 |
12.39 |
|
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|
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|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.82 |
0.81 |
1.28 |
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 |
40.000 |
40.000 |
40.000 |
|
Reserves & Surplus |
684.421 |
791.039 |
919.080 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
724.421 |
831.039 |
959.080 |
|
|
|
|
|
|
Long-term borrowings |
370.000 |
0.000 |
0.000 |
|
Short term borrowings |
125.735 |
491.341 |
1200.512 |
|
Current maturities of
long-term debts |
0.000 |
100.000 |
0.000 |
|
Total
borrowings |
495.735 |
591.341 |
1200.512 |
|
Debt/Equity
ratio |
0.684 |
0.712 |
1.252 |
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 |
3315.004 |
3683.600 |
4461.023 |
|
|
|
11.119 |
21.105 |
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 |
3315.004 |
3683.600 |
4461.023 |
|
Profit |
47.458 |
106.618 |
128.041 |
|
|
1.43
% |
2.89
% |
2.87
% |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
B07323470 |
10167328 |
THE HONGKONG &
SHANGHAI BANKING CORPORATION LTD. |
07/07/2009 |
- |
21/02/2011 |
30204154.0 |
AMAR AVINASH
CORPORATE CITY, S.NO. 11,BUND GARDEN ROAD,PUNEMH411001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
1200.512 |
491.341 |
|
|
|
|
|
Total |
1200.512 |
491.341 |
GENERAL INFORMATION:
The Company is engaged in (a) manufacture and supply of interior system components, product & process validation, design & development of tools for original equipment manufacturers and (b) Computer Aided Design (CAD) and Computer Aided Engineering (CAE) services to group companies and external customers for interior systems components of the automotive industry.
RESULTS OF OPERATIONS
Managing challenges and emerging as a great institution requires strong decision making capabilities. The Company continued to do well in this regard, taking decisions focused on long-term profitable growth, while balancing short term deliverables, based on strong customer relationships, technology leadership, service support. It is with pride that they report the performance of the company for a year that has had opportunities and
challenges. In 2016-17, net profit after tax was reported amounting to INR 128.041 million (previous year INR 106.618 million).
OUTLOOK:
The company has progressed as per the plan in the year 2016-17 and has achieved the target it set for itself.
Having said this, expectations for 2017-18 are quite high and in order to deliver it, they will have to remain focused and committed to the upcoming challenges. The company is now firmly on a path to achieve benchmark in all of its businesses.
With favorable market environment in the coming years, they target to further diversify their customer portfolio with more foot prints in India. The Directors are confident that with the state of the art technology background behind them & with an excellent Engineering capability built in India, they can definitely secure their place in this most dynamic Indian market.
The Company has taken all necessary precautions to control and cut costs, wherever possible to deal with growing volumes of business. In view of global competitiveness, the Company sees huge potential to enter into India market to cater the requirements of global customers.
The Company looks forward towards another tremendous and challenging year.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the company not acknowledged as debts: |
|
|
|
Income Tax matters |
8.505 |
9.399 |
|
Sales Tax matters |
16.822 |
1300 |
FIXED ASSETS:
Tangible Assets
· Furniture and fixtures
· plant and equipment
· Office equipment
· Computer equipment’s
· Leasehold improvements
Intangible
assets
- Computer software
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 records 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 64.93 |
|
UK Pound |
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
ARC |
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 opera tions 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.