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%20PRIVATE%20LIMITED%20-%20502844_MIRA%2011-Apr-2018_files/image002.jpg){kind=small}
%20PRIVATE%20LIMITED%20-%20502844_MIRA%2011-Apr-2018_files/image004.jpg)
%20PRIVATE%20LIMITED%20-%20502844_MIRA%2011-Apr-2018_files/image005.gif)
MIRA INFORM REPORT
|
Report No. : |
502844 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
BOSCH REXROTH (INDIA) PRIVATE LIMITED (w.e.f.01.01.2016) |
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|
|
|
Formerly Known
As : |
BOSCH REXROTH (INDIA) LIMITED (w.e.f.21.06.2001) MANNESMANN REXROTH (INDIA) LIMITED (w.e.f.24.02.1995) G. L. REXROTH INDUSTRIES LIMITED (w.e.f.15.10.1985) G. L. REXROTH MANEKLAL INDUSTRIES LIMITED (w.e.f.23.02.1984) REXROTH MENEKLAL INDUSTRIES LIMITED |
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Registered
Office : |
Sanand Viramgam Highway, Mouje Iyava, Taluka Sanand, Ahmedabad – 382170,
Gujarat |
|
Tel. No.: |
91-2717-678000 |
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|
|
|
Country : |
India |
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|
|
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Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
18.02.1974 |
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|
|
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Com. Reg. No.: |
04-002468 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 63.600 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U29120GJ1974PTC002468 |
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|
|
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IEC No.: [Import-Export Code No.] |
0888009925 |
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|
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TIN No.: |
24075600002 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
24AAACM9898F1Z2 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AAACM9898F |
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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 and Trading of Mobile Hydraulics, Industrial Hydraulics, Pneumatics, Linear Motion and other Hydraulic Components. (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)
|
MIRA’s Rating : |
A++ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Status : |
Excellent |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is
a step down subsidiary of “Robert Bosch GmbH” based in Germany and it was
incorporated in the year 1974. It is
engaged in manufacturing and trading of Mobile Hydraulic, Industrial
Hydraulic, Linear Motion and Other Hydraulic Components. As per
financials of March 2017, the company has registered a growth of 9.07% in its
revenue as compared to its previous year’s revenue and has reported average
profit margin of 2.10% under review. Rating
takes into consideration the company’s established track record of business
operations marked by healthy net worth base along with low solvency
indicators and good liquidity position. Rating
also takes into account the strong financial and managerial support received
from its holding entity and well established management team. Rating
continuous to derive strength from established position in the domestic
market for industrial and mobile hydraulic solutions and reputed customer
profile across various industries. Further,
the company has reported a healthy Earnings Per Share of INR 299,744.14
against its face value of INR 100,000. Furthermore,
“Robert Bosch GmbH” has been ranked 76th on Global Fortune 500 Company list. However,
ratings strength is partially offset by its presence in intense competitive
market and foreign exchange fluctuation risk related to imported raw
materials. Payments
seems to be regular as per commitments.
In view of strong parentage, the company can be considered good for business dealings at normal trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating = AA |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
30.03.2018 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
|
Date |
30.03.2018 |
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 11.04.2018
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 BY
|
Name : |
Mr. Satish |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-66058817 |
|
Date : |
09.04.2018 |
|
|
|
|
Name : |
Mr. Ramakant |
|
Designation : |
Sales Department |
|
Contact No.: |
91-9833304543 |
|
Date : |
09.04.2018 |
LOCATIONS
|
Registered/ Head Office : |
Sanand Viramgam Highway, Mouje Lyava, Taluka Sanand, Ahmesabad – 382170,
Gujarat, India |
|
Tel. No.: |
91-2717-678000 |
|
Mobile No.: |
91-9833304543 [Mr. Ramakant] |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
Sales Offices : |
Located at: · Bangalore · Jamshedpur · New Delhi · Pune · Kolkata · Ahmedabad · Chennai · Mumbai [Tel. No.: 91-22-66058817] |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Deepak Sitaldas Chellani |
|
Designation : |
Whole-Time Director |
|
Address : |
1201 Raj Heritage Tower L M Road, Opposite Mary Immaculative G H School Borivali (West), Mumbai - 400103, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1964 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
06433338 |
|
|
|
|
Name : |
Mr. Hans Bangert |
|
Designation : |
Managing Director |
|
Address : |
35 Amrakadamb Bunglows, Anand Nagar Ramdev Nagar Road, Ramdev Nagar Satellite, Ahmedabad - 380015, Gujarat, India |
|
Date of Appointment : |
01.07.2015 |
|
DIN No.: |
07218000 |
|
|
|
|
Name : |
Mr. Bidare Venkatesh Ramesh |
|
Designation : |
Whole-time Director |
|
Address : |
1420, Pushpa, 23rd Main Road, BSK, 2nd Stage, Bangalore - 560070, Karnataka, India |
|
Date of Appointment : |
17.09.2017 |
|
DIN No.: |
07512840 |
|
|
|
|
Name : |
Mr. Marc Wucherer |
|
Designation : |
Director |
|
Address : |
Leutershauser Str. 45 Middle Franconia Nuernberg 90453 De |
|
Date of Appointment : |
14.09.2017 |
|
DIN No.: |
07922543 |
KEY EXECUTIVES
|
Name : |
Mr. Karan Mukeshbhai Bhatt |
|
Designation : |
Company Secretary |
|
Address : |
A/202, Vrajbhumi Apt, Near Lotus School, Jodhpur Village Road, Satellite, Ahmedabad - 380015, Gujarat, India |
|
Date of Appointment : |
19.11.2016 |
|
PAN No.: |
BBIPB9956Q |
|
|
|
|
Name : |
Mr. Satish |
|
Designation : |
Finance Department |
|
|
|
|
Name : |
Mr. Ramakant |
|
Designation : |
Sales Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Bosch Rexroth AG, Germany |
510 |
80.19 |
|
Bosch Rexroth, AB, Sweden |
105 |
16.51 |
|
Robert Bosch Investment Nederland BV, Nederlands |
21 |
3.30 |
|
|
|
|
|
Total |
636 |
100.00 |
AS ON: 25.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Body corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20502844_MIRA%2011-Apr-2018_files/image006.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Manufacturing and Trading of Mobile Hydraulics, Industrial Hydraulics, Pneumatics, Linear Motion and other Hydraulic 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 : |
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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 : |
·
Deutsche Bank H
S Marg, Mumbai - 400001, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400028,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP3641G |
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|
|
|
Memberships : |
Not Available |
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|
|
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Collaborators : |
Not Available |
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|
|
Holding Company : |
Bosch Rexroth
AG, Germany |
|
|
|
|
Ultimate Holding Company: |
Robert Bosch
GmbH, Germany |
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|
|
|
Subsidiary Company : |
Mivin Engg. Technologies Private Limited, India |
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|
Fellow Subsidiaries
: |
· Bosch Rexroth Pty Limited., Australia · Bosch Limited, India · Bosch Rexroth S.p.A., Italy · Bosch Rexroth (China) Limited, Hong Kong · Bosch Rexroth BV, Netherlands · Robert Bosch Licensing Administration CV, Netherland · Robert Bosch Limited, Thailand · Bosch Rexroth Korea Limited, South Korea · Bosch Rexroth Ltda., Brazil · Bosch Rexroth Pte Limited., Singapore · Bosch Rexroth Oy, Finland · Bosch Rexroth Schweiz AG, Switzerland · Bosch Rexroth Sdn. Bhd., Malaysia · Bosch Rexroth Teknik AB, Sweden · PT. Rexroth, Indonesia · Shanghai Bosch Rexroth Hydraulics & Automation Limited, China · Bosch Automotive Electronics India Private Limited, India · Bosch Chassis Systems India Limited, India · Bosch Electrical Drives India Private Limited, India · Bosch Rexroth Mellansel AB, Sweden · Robert Bosch Engineering and Business Solutions Limited, India · Bosch Rexroth Corporation, USA · Bosch Rexroth DSI SAS, France · Bosch Rexroth Oil Control S.p.A., Italy · Bosch Rexroth Sp. z o. o., · Poland Bosch Rexroth Otomasyon San. ve., Turkey · Bosch Rexroth (Beijing) Hydraulics Company Limited, China · Bosch Rexroth Corporation, Japan · Bosch Rexroth A/S, Denmark · Bosch Rexroth Electric Drives & Controls (Xi'an) Company Limited, China · Bosch Sicherheitssysteme GmbH, Germany · Bosch Rexroth Limited, United Kingdom · Bosch Rexroth N.V., Belgium · Bosch Rexroth (Changzhou) Company Limited, China · Bosch Rexroth Canada Corporation, Canada · Bosch Rexroth, Spol. s.r.o., Czech Republic · Robert Bosch Investment · Nederland B.V., Netherlands · Bosch India Foundation, India · Bosch Rexroth SRL, Romania · Bosch Rexroth AB, Sweden · Robert Bosch Automotive Steering Private Limited, India · Robert Bosch Starter Motors Generators India Pvt. Ltd., India · Bosch Rexroth GmbH, Austria · Bosch Rexroth Ltda., United Kingdom · Bosch Rexroth GmbH, United Kingdom · VHIT S.P.A., Italy · Bosch Lawn and Garden Ltd., United Kingdom · Bosch Rexroth (Xi'an) Electric Drives & Controls Co, Ltd., China · Rexroth Pneumatics GmbH, Germany |
|
|
|
|
Related
Parties : |
· Bosch Rexroth Employees' Gratuity Trust Fund · Bosch Rexroth (India) Limited Superannuation Fund |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1900 |
Equity Shares |
INR 100000/- each |
INR 190.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
636 |
Equity Shares |
INR 100000/- each |
INR 63.600
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
63.600 |
63.600 |
63.509 |
|
(b) Reserves and Surplus |
2641.704 |
2451.047 |
2537.643 |
|
(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) |
2705.304 |
2514.647 |
2601.152 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
500.000 |
700.000 |
1450.000 |
|
(b) Deferred tax liabilities (Net) |
51.895 |
87.555 |
96.265 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
359.061 |
119.812 |
112.070 |
|
Total Non-current
Liabilities (3) |
910.956 |
907.367 |
1658.335 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1601.524 |
1302.112 |
1605.380 |
|
(b) Trade
payables |
1133.576 |
892.895 |
825.932 |
|
(c) Other
current liabilities |
1151.599 |
1068.284 |
298.393 |
|
(d) Short-term
provisions |
62.001 |
588.510 |
29.017 |
|
Total Current
Liabilities (4) |
3948.700 |
3851.801 |
2758.722 |
|
|
|
|
|
|
TOTAL |
7564.960 |
7273.815 |
7018.209 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
2767.149 |
2902.860 |
3016.283 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
20.391 |
3.958 |
19.711 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
200.000 |
200.000 |
200.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
500.996 |
434.852 |
198.781 |
|
(e) Other
Non-current assets |
4.379 |
4.578 |
4.283 |
|
Total Non-Current
Assets |
3492.915 |
3546.248 |
3439.058 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1519.659 |
1461.698 |
1410.839 |
|
(c) Trade
receivables |
2041.246 |
1929.884 |
1637.997 |
|
(d) Cash and
bank balances |
239.108 |
57.969 |
15.534 |
|
(e)
Short-term loans and advances |
265.516 |
271.546 |
503.940 |
|
(f) Other
current assets |
6.516 |
6.470 |
10.841 |
|
Total
Current Assets |
4072.045 |
3727.567 |
3579.151 |
|
|
|
|
|
|
TOTAL |
7564.960 |
7273.815 |
7018.209 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
9093.053 |
8337.268 |
9013.457 |
|
|
Other Income |
80.134 |
11.866 |
309.836 |
|
|
TOTAL |
9173.187 |
8349.134 |
9323.293 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2123.222 |
1994.650 |
2234.460 |
|
|
Purchases of
Stock-in-Trade |
4216.016 |
3425.761 |
3417.151 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
35.581 |
(72.647) |
27.368 |
|
|
Employee benefit expense |
896.457 |
815.573 |
954.226 |
|
|
CSR expenditure |
10.000 |
0.000 |
0.000 |
|
|
Other expenses |
1077.308 |
963.619 |
1101.209 |
|
|
TOTAL |
8358.584 |
7126.956 |
7734.414 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
814.603 |
1222.178 |
1588.879 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
295.231 |
330.868 |
458.223 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
519.372 |
891.310 |
1130.656 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
182.374 |
179.621 |
254.756 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
336.998 |
711.689 |
875.900 |
|
|
|
|
|
|
|
Less |
TAX |
146.341 |
251.290 |
262.806 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
190.657 |
460.399 |
613.094 |
|
|
|
|
|
|
|
|
Earnings Per Share (INR) |
299774 |
724353 |
965366 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
800.000 |
750.000 |
0.000 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1108.822 |
1005.808 |
937.058 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
918.864 |
703.442 |
633.301 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
81.94 |
84.49 |
66.33 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.45 |
4.32 |
5.50 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
65.27 |
60.13 |
53.34 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.54 |
0.84 |
1.13 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.29 |
0.42 |
0.52 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.69 |
0.73 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.07 |
1.09 |
1.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.46 |
1.53 |
1.06 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.03 |
1.16 |
1.17 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.76 |
3.69 |
3.47 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
2.10 |
5.52 |
6.80 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.52 |
6.33 |
8.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.05 |
18.31 |
23.57 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.03 |
0.97 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.65 |
0.59 |
0.79 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.36 |
0.35 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
45.62 |
43.27 |
48.11 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.03 |
0.97 |
1.30 |
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 |
63.509 |
63.600 |
63.600 |
|
Reserves & Surplus |
2537.643 |
2451.047 |
2641.704 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2601.152 |
2514.647 |
2705.304 |
|
|
|
|
|
|
Long-term borrowings |
1450.000 |
700.000 |
500.000 |
|
Short term borrowings |
1605.380 |
1302.112 |
1601.524 |
|
Current maturities of
long-term debts |
0.000 |
750.000 |
800.000 |
|
Total
borrowings |
3055.380 |
2752.112 |
2901.524 |
|
Debt/Equity
ratio |
1.175 |
1.094 |
1.073 |
%20PRIVATE%20LIMITED%20-%20502844_MIRA%2011-Apr-2018_files/image007.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9013.457 |
8337.268 |
9093.053 |
|
|
|
(7.502) |
9.065 |
%20PRIVATE%20LIMITED%20-%20502844_MIRA%2011-Apr-2018_files/image008.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
9013.457 |
8337.268 |
9093.053 |
|
Profit |
613.094 |
460.399 |
190.657 |
|
|
6.80
% |
5.52
% |
2.10
% |
%20PRIVATE%20LIMITED%20-%20502844_MIRA%2011-Apr-2018_files/image009.gif)
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
63.600 |
63.600 |
|
(b) Reserves and Surplus |
|
2496.277 |
2819.461 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
2559.877 |
2883.061 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
500.000 |
700.000 |
|
(b) Deferred tax liabilities (Net) |
|
51.895 |
87.555 |
|
(c) Other long-term
liabilities |
|
7.960 |
7.350 |
|
(d) long-term
provisions |
|
370.511 |
127.329 |
|
Total Non-current
Liabilities (3) |
|
930.366 |
922.234 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
1751.524 |
1468.208 |
|
(b) Trade payables |
|
1166.597 |
922.286 |
|
(c) Other
current liabilities |
|
1165.981 |
1088.439 |
|
(d) Short-term
provisions |
|
66.592 |
37.896 |
|
Total Current
Liabilities (4) |
|
4150.694 |
3516.829 |
|
|
|
|
|
|
TOTAL |
|
7640.937 |
7322.124 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
2876.631 |
3015.191 |
|
(ii)
Intangible Assets |
|
0.584 |
0.766 |
|
(iii) Tangible assets
capital work-in-progress |
|
20.969 |
22.243 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
519.525 |
448.526 |
|
(e) Other Non-current
assets |
|
4.379 |
4.578 |
|
Total Non-Current
Assets |
|
3422.088 |
3491.304 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1614.261 |
1543.836 |
|
(c) Trade
receivables |
|
2063.872 |
1939.573 |
|
(d) Cash and
bank balances |
|
254.250 |
58.579 |
|
(e)
Short-term loans and advances |
|
279.938 |
282.360 |
|
(f) Other
current assets |
|
6.528 |
6.472 |
|
Total
Current Assets |
|
4218.849 |
3830.820 |
|
|
|
|
|
|
TOTAL |
|
7640.937 |
7322.124 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Revenue
from operations |
|
9243.359 |
8432.483 |
|
|
Other Income |
|
77.875 |
12.300 |
|
|
TOTAL |
|
9321.234 |
8444.783 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
2477.978 |
2290.533 |
|
|
Purchases of
Stock-in-Trade |
|
3666.079 |
3010.129 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
58.766 |
-84.885 |
|
|
Employee benefit expense |
|
999.659 |
897.871 |
|
|
Other expenses |
|
1216.475 |
1069.977 |
|
|
TOTAL |
|
8418.957 |
7183.625 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
902.277 |
1261.158 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
313.340 |
348.841 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
588.937 |
912.317 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
211.655 |
207.675 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
|
377.282 |
704.642 |
|
|
|
|
|
|
|
Less |
TAX |
|
146.341 |
251.290 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
230.941 |
453.352 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(INR) |
|
363114 |
713267 |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
A06436117 |
80011958 |
DEUTSCHE BANK |
19/12/2001 |
- |
20/11/2006 |
200000000.0 |
H S
MARGMUMBAIMH400001IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Intercorporate deposits |
500.000 |
700.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Intercorporate deposits |
1600.000 |
1300.000 |
|
Working capital loans from banks |
0.000 |
2.112 |
|
|
|
|
|
Total |
2100.000 |
2002.112 |
CHANGE OF ADDRESS:
The Registered address of the company has been shifted from Vatva,
Tal-Dascroi, Ahmedabad-382445, Gujarat, India to the present address
w.e.f.05.03.2013
GENERAL INFORMATION
Bosch Rexroth (India) Limited which was originally incorporated on February 18, 1974 under any previous company law as Rexroth Maneklal Industries Limited and upon an intimation made for conversion into Private limited by shares Company under Section 18 of the Companies Act, 2013; and approval of Central Government signified in writing having been accorded thereto by the Gujarat, Dadra and Nagar Havelli vide SRN C74181884 dated January 1, 2016 has been changed to Bosch Rexroth (India) Private Limited.
Bosch Rexroth (India) Private Limited (the 'Company') is engaged in the business of manufacturing and trading of Mobile Hydraulics, Industrial Hydraulics, Pneumatics, Linear Motion and other hydraulic components. The Company has manufacturing plants in Ahmedabad and Bangalore and wide spread Sales and Services Offices and dealers network all over India.
REVIEW OF OPERATIONS
For the 12 months period ended on 31st March, 2017, the Company has achieved Turnover of INR 9093.050 million as against the Turnover of INR 8337.270 million during the previous year, representing increase in Turnover of 9.07%. Profit before Tax for the year is INR 337.000 million compared to INR 711.690 million in the previous year, after considering exceptional and non-recurring items.
BUSINESS SITUATION
The Indian Engineering sector has witnessed a remarkable growth over the last few years driven by increased investments in infrastructure and industrial production. The engineering sector, being closely associated with the manufacturing and infrastructure sectors of the economy, is of strategic importance to India’s economy. Growth in the sector is driven by various sub-sectors such as infrastructure, power, steel, automotive, oil and gas, consumer durables, etc.
Corollary to the above, the year 2016-17 was a successful year for the Company. The Company’s ambitious targets for growth in turnover and agility were achieved however, profitability is decreased due to extra ordinary items. In spite of decrease in profitability, overall performance of the company was satisfactory, especially considering that the global economy was weak. Sales increased by 9.07% during the 12 months’ period ended March 31, they compared to the same period during the previous year. The Company expects sales to grow in near future. They cannot expect much economic tailwind, but they have a strong market position and a good chance of further improved earnings.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against
Company not acknowledged as debts in respect of: |
|
|
|
Income tax |
129.918 |
108.658 |
|
Sales Tax |
45.012 |
45.011 |
|
Entry Tax |
26.029 |
26.028 |
|
Corporate Guarantee to a bank on behalf of subsidiary company for overdraft facility availed by them |
120.000 |
120.000 |
FIXED ASSETS:
· Land
· Buildings
· Office Building
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipment’s
·
Other Equipment’s
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 64.94 |
|
UK Pound |
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
VIK |
|
|
|
|
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 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.