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|
MIRA INFORM REPORT
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Report No. : |
502417 |
|
Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
TOYOTETSU INDIA AUTO PARTS PRIVATE LIMITED |
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|
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|
Registered
Office : |
Onsite Supplier Park, Building No. 7, Toyota Kirloskar Motor Private
Limited, Plot No. 1, Bidadi-562109, Karnataka |
|
Mob. No.: |
91-9008300529 [Office] |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of Incorporation
: |
04.12.2008 |
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|
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|
Com. Reg. No.: |
08-048504 |
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Capital
Investment / Paid-up Capital : |
INR 3060.000 Million |
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|
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|
CIN No.: [Company Identification
No.] |
U34300KA2008PTC048504 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
GSTN : [Goods & Service Tax
Registration No.] |
29AADCT0768L1ZU |
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TIN No.: |
29930828899 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AADCT0768L |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Pressed and Welded Automobile Components, and Constructing Dies, Jigs and Fixtures. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
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 5995200 |
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|
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Toyotetsu India Auto Parts Private Limited is a subsidiary of “Toyoda Iron
Works Co Ltd, Japan” and was incorporated in the year 2008. The company is engaged in manufacturing of pressed and welded
automobile components, and constructing dies, jigs and fixtures. For the financial year 2017, the company has achieved massive growth
in its revenue as compared to the previous year along with an average profit
margin of 2.03%. The overall financial position of the company seems to be satisfactory
marked by decent capital base and negligible debt balance sheet profile due
to unsecured debt recorded in the books. However, accumulated operational
losses incurred by the company has resulted into negative reserve base. Rating takes into consideration the strong support that the subject
receives from its parent company and its experienced management team. Payment seems to be slow but correct. In view of strong parental support, the company can be considered for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
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
[Contact No: 91-9008300529/ 9686852838]
[91-80-27287159 is not working]
LOCATIONS
|
Registered Office/ Factory : |
Onsite Supplier Park, Building No. 7, Toyota Kirloskar Motor Private Limited,
Plot No. 1, Bidadi-562109, Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9008300529/ 9686852838 [Office] |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Satoru Hashimoto |
|||||||
|
Designation : |
Managing Director |
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|
Address : |
Temple Tree Studios, No. 11 1 Alfred Street, Richmond Town Bangalore – 560025, Karnataka, India |
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Date of Birth/Age : |
17.11.1961 |
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Qualification : |
Engineer |
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Date of Appointment : |
01.02.2013 |
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PAN No.: |
AJLPH1226R |
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DIN No.: |
06531470 |
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|
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|
Name : |
Atushi Ozawa |
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Designation : |
Additional Director |
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Address : |
Flat No 906, Pegasus Wing, Brigade Gateway No 26/1 Dr
Rajkumar Road, Rajajinagar Ext, Malle Swaram Wes, Bangalore-560055, Karnataka, India |
|||||||
|
Date of Appointment : |
01.08.2016 |
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DIN No.: |
07575789 |
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|
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Name : |
Satoru Uchida |
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Designation : |
Additional Director |
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|
Address : |
Temple Tree Studios, No.11/1 Alfred Street, Richmond Town,
Bengaluru- 560025, Karnataka, India |
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|
Date of Appointment : |
01.05.2017 |
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DIN No.: |
07805832 |
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|
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Name : |
Hideki Otaki |
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Designation : |
Additional Director |
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|
Address : |
Temple Tree Studios, 11/1, Alfred Street, Richmond Town,
Bangalore-560025, Karnataka, India |
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|
Date of Appointment : |
01.09.2017 |
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DIN No.: |
07911960 |
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|
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Name : |
Tatsuya Ishikawa |
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Designation : |
Additional Director |
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Address : |
1-152, Hoshigaoka Oshima-Cho Toyota 4730935 JP |
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Date of Appointment : |
01.09.2017 |
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DIN No.: |
07916894 |
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KEY EXECUTIVES
|
Name : |
Narasappa Sarala |
|
Designation : |
Company Secretary |
|
Address : |
H.No.87/, Ganesh Mandir Road Ii Block, Thyagarajanagar,
Bangalore-560028, Karnataka, India |
|
Date of Birth/Age : |
10.06.1983 |
|
Qualification : |
Company Secretary |
|
Date of Appointment : |
20.03.2015 |
|
PAN No.: |
CQMPS2368K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Toyoda Iron Works Co. Limited, Japan |
305999999 |
100.00 |
|
Yuji Kuroki |
1 |
0.00 |
|
|
|
|
|
Total |
306000000 |
100.00 |
AS ON: 03.07.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pressed and Welded Automobile Components, and Constructing Dies, Jigs and Fixtures. [Registered Activity] |
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Products/ Services : |
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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 : |
Not Divulged |
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Bankers : |
· Corporation Bank · ICICI Bank Limited · State Bank of India |
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Facilities : |
--- |
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|
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|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Bangalore, Karnataka, India |
|
PAN No.: |
AACFD4815A |
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|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Holding Company : |
Toyoda Iron Works Co. Limited, JAPAN |
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|
Fellow Subsidiary
Companies : |
· Toyotetsu India Private Limited, India [U34300KA1998PTC024464] · Tianjin Toyotetsu Automobile Part Co. Limited · Toyotetsu Fukuka Co. Limited · Technol Eight Co. Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
306000000 |
Equity Shares |
INR 10/- each |
INR 3060.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
306000000 |
Equity Shares |
INR 10/- each |
INR 3060.000 Million |
|
|
|
|
|
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3060.000 |
3060.000 |
3060.000 |
|
(b) Reserves and Surplus |
(961.650) |
(1060.198) |
(706.161) |
|
(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) |
2098.350 |
1999.802 |
2353.839 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
169.229 |
493.819 |
719.978 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
19.453 |
17.890 |
17.328 |
|
Total Non-current
Liabilities (3) |
188.682 |
511.709 |
737.306 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
560.790 |
368.478 |
138.371 |
|
(c) Other
current liabilities |
344.791 |
1449.596 |
443.692 |
|
(d) Short-term provisions |
2.758 |
1.305 |
1.136 |
|
Total Current
Liabilities (4) |
908.339 |
1819.379 |
583.199 |
|
|
|
|
|
|
TOTAL |
3195.371 |
4330.890 |
3674.344 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1339.058 |
1527.554 |
779.532 |
|
(ii)
Intangible Assets |
2.297 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
19.788 |
580.721 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
47.439 |
42.932 |
106.835 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1388.794 |
1590.274 |
1467.088 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
242.140 |
1709.707 |
67.270 |
|
(c) Trade
receivables |
369.423 |
229.953 |
154.222 |
|
(d) Cash and
bank balances |
856.454 |
363.655 |
1787.184 |
|
(e)
Short-term loans and advances |
237.696 |
411.394 |
183.320 |
|
(f) Other
current assets |
100.864 |
25.907 |
15.260 |
|
Total
Current Assets |
1806.577 |
2740.616 |
2207.256 |
|
|
|
|
|
|
TOTAL |
3195.371 |
4330.890 |
3674.344 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4865.533 |
1190.724 |
1132.007 |
|
|
Other Income |
51.508 |
78.481 |
125.942 |
|
|
TOTAL |
4917.041 |
1269.205 |
1257.949 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2097.288 |
900.552 |
689.478 |
|
|
Purchases of
Stock-in-Trade |
339.332 |
1542.674 |
123.173 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1462.893 |
(1614.314) |
(35.277) |
|
|
Employee benefit expense |
206.037 |
153.788 |
118.388 |
|
|
Other expenses |
306.686 |
292.471 |
195.441 |
|
|
TOTAL |
4412.236 |
1275.171 |
1091.203 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
504.805 |
(5.966) |
166.746 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
32.556 |
26.871 |
23.095 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
472.249 |
(32.837) |
143.651 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
373.701 |
321.199 |
195.211 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
98.548 |
(354.036) |
(51.560) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
98.548 |
(354.036) |
(51.560) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1.292 |
3.380 |
4.231 |
|
|
Components and spare
parts |
77.364 |
1218.107 |
1.774 |
|
|
Capital Goods |
36.179 |
130.453 |
364.330 |
|
|
TOTAL IMPORTS |
114.835 |
1351.940 |
370.334 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.32 |
(1.16) |
(0.27) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
317.304 |
322.056 |
284.202 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1021.182 |
(749.863) |
587.122 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
970.600 |
(834.541) |
486.522 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
27.71 |
70.49 |
49.73 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
13.17 |
5.18 |
7.34 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
84.01 |
55.05 |
62.15 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.08 |
0.00 |
2.48 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.38 |
0.00 |
0.12 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.44 |
0.61 |
0.43 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.23 |
0.41 |
0.43 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.43 |
0.91 |
0.25 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.64 |
0.77 |
0.58 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
15.51 |
(0.22) |
7.22 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.03 |
(29.73) |
(4.55) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.08 |
(8.17) |
(1.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.70 |
(17.70) |
(2.19) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.99 |
1.51 |
3.78 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.72 |
0.57 |
3.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.66 |
0.46 |
0.64 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.16 |
0.27 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.99 |
1.51 |
3.78 |
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 |
3060.000 |
3060.000 |
3060.000 |
|
Reserves & Surplus |
(706.161) |
(1060.198) |
(961.650) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2353.839 |
1999.802 |
2098.350 |
|
|
|
|
|
|
Long-term borrowings |
719.978 |
493.818 |
169.227 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
284.202 |
322.056 |
317.304 |
|
Total
borrowings |
1004.180 |
815.874 |
486.531 |
|
Debt/Equity
ratio |
0.427 |
0.408 |
0.232 |
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 |
1132.007 |
1190.724 |
4865.533 |
|
|
|
5.187 |
308.620 |
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 |
1132.007 |
1190.724 |
4865.533 |
|
Profit/ (Loss) |
(51.560) |
(354.036) |
98.548 |
|
|
(4.55
%) |
(29.73
%) |
2.03
% |
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 |
No |
|
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: NO
CHARGES EXISTS FOR COMPANY
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from banks |
56.410 |
186.077 |
|
Term loans from others |
112.819 |
307.742 |
|
|
|
|
|
Total |
169.229 |
493.819 |
GENERAL
INFORMATION:
Toyotetsu India Auto Parts Private Limited ("the Company") is a joint venture entity established in December 2008 by Toyoda Iron Works Company Limited, Japan and Stanzen Techno Private Limited, India for manufacturing pressed and welded automobile components, and constructing dies, jigs and fixtures to cater to the requirements of Toyota Kirloskar Motors Private Limited. The Company's registered office and manufacturing facility is at Bidadi, Karnataka.
PERFORMANCE OF THE
COMPANY
The Net Sales and Other Income of the Company for the year is INR 4917.041 Million as compared to INR 1269.208 Million registering an increase of 287.41% on annualized basis due to the expansion of business for 660A project and the resultant increase in sale of Dies, Jigs and Checking fixtures and automotive parts.
The Gross Profit before Interest and Depreciation of the Company is INR 504.804 Million during the year as compared to a Gross Loss of INR 5.967 Million in the previous year registering an increase of 8560.23% on annualized basis which is mainly on account of increase in sale of Dies, Jigs and Checking fixtures and automotive parts for 660A project. The operating cash profit is at INR 427.624 Million as compared to the operating cash loss of INR 107.095 Million during the previous year registering an increase of 499.30% which is mainly on account additional business for 660A project. The Company has incurred a Net Profit of INR 98.548 Million after tax during the year as against a Net Loss of INR 354.036 Million in the previous year registering an increase of 127.84% on annualized basis which is mainly on account of additional business for 660A project.
BUSINESS OUTLOOK
The Company has started supplies for the two highly successful models of Toyota, namely the Innova Crysta and Fortuner in the last year. The success of the models in the market has translated into positive sales for the Company. The models are expected to continue to do well thereby translating into positive business outlook for the near term for your Company.
The Company continues to be optimistic on the medium and long term prospects and is looking forward to further growth as the company has successfully procured the orders for 231B project from Toyota Kirloskar Motors Pvt. Ltd for supply of Auto components, Dies, Jigs and Checking fixtures.
The mass supplies for the model are scheduled to start in end of next year.
FIXED ASSETS:
Tangible Assets
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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 : |
SAV |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
IND |
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.