|
|
|
MIRA INFORM REPORT
|
Report No. : |
502473 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUJAN COOPER STANDARD AVS PRIVATE LIMITED (w.e.f. 09.10.2013) |
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|
|
Formerly Known
As : |
SUJAN BARRE THOMAS ANTIVIBRATION SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Reg 77, Mistry Industrial Complex, MIDC XA Road, Andheri (East), Mumbai – 400093, Maharashtra |
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Tel. No.: |
91-22-26870441 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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|
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Date of
Incorporation : |
12.08.2008 |
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|
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Com. Reg. No.: |
11-185753 |
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Capital Investment
/ Paid-up Capital : |
INR 149.961 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2008PTC185753 |
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CST/ TIN No.: |
27350677640 |
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IEC No.: [Import-Export Code No.] |
0308062841 |
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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.] |
AAMCS2867C |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
27AAMCS2867C1Z5 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, selling, engineering, designing, assembling, testing, marketing, distributing, servicing and dealing in, directly or indirectly, anti-vibration systems parts for automobiles such as, without limitation, engine suspension parts, chassis suspension parts, strut mounts, assemblies including plastic parts etc. (Registered Activity) |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 724000 |
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|
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Status : |
Good |
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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 50:50 Joint Venture between India-based “Magnum
Elastomers Private Limited” and the France-based “Cooper-Standard”. It was
incorporated in the year 2008 and having good track. It is manufactures anti-vibration automotive components used in
four-wheelers. Management of the company has not filed its financials of 2017 with
government department. As per available financials of 2016, the company has increased in its
revenue from operation as compared to previous year and maintained average
profit margin of 2.06%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base along with average debt balance sheet. Further, the company also derives strength from its experienced
promoters in the automotive components industry, strong technical support
from joint venture (JV) partner and well established track records of
business operation and market position. However, rating strength is partially offset by company's exposure to
volatility in raw material prices, customer concentration risk and limited
pricing flexibility. 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.
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 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 DENIED BY
|
Name : |
Mr. Neel Rewachand Sujan |
|
Designation : |
Director |
|
Contact No.: |
91-9820088128/ 91-22-26230455 |
|
|
|
|
Name : |
Mr. Nilesh Jain |
|
Designation : |
Account Manager |
|
Contact No.: |
91-7507776069 |
|
|
|
|
Name : |
Mr. Vivek Jain |
|
Designation : |
Account Department |
|
Contact No.: |
91-7507776068 |
|
Date : |
06.04.2018 |
LOCATIONS
|
Registered Office : |
Reg 77, Mistry Industrial Complex, MIDC Xa Road, Andheri (East), Mumbai – 4 00093, Maharashtra, India |
|
Tel. No.: |
91-22-26870441 |
|
Mobile No.: |
91-7507776068 (Mr. Vivek Jain) 91-7507776069 (Mr. Nilesh Jain) 91-9820088128 (Mr. Neel Rewachand Sujan) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Branch Office : |
Survey No.35/1, Anekal Road, Off. Thally Road, Poonapalli Village, Hosur,
District Krishnagiri-635114, Tamilnadu, India |
|
|
|
|
Factory : |
Building No. 1, Plot No. 1 and 2, Behind Blue Chip Industrial Estate, Village Waliv, Sativali Udyog Nagar, Vasai (East), Thane – 401208, Maharashtra, India |
|
Tel. No.: |
91-250-2456743/44 |
|
Fax No.: |
91-250-2456745 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Jain |
|
Designation : |
Accounts Department |
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|
|
|
Name : |
Mr. Nilesh Jain |
|
Designation : |
Accounts Manager |
DIRECTORS
As on 2018
|
Name : |
Mr. Ashok Sujan Rewachand |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
25th Floor, Oberoi Sky Heights, Lokhandwala Complex, Andheri (West),
Mumbai – 400053, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.12.1950 |
||||||||||||||||||||||||||||||||||||
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Qualification: |
Inter |
||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
28.07.2011 |
||||||||||||||||||||||||||||||||||||
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DIN No.: |
01424203 |
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Other
directorship:
|
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|
||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Neel Rewachand Sujan |
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|
Designation : |
Director |
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|
Address : |
802/902, Ruchita Tower, Juhu Versova Link Road, Andheri (West), Mumbai
- 400053, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.08.1957 |
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Qualification: |
Inter com |
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Date of Appointment : |
12.08.2008 |
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DIN No.: |
01424276 |
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Other
directorship:
|
|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Song Min Lee |
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|
Designation : |
Additional Director |
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|
Address : |
7983, Matera Ct Bradenton, Florida, 34202 US |
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Date of Birth/Age : |
23.11.1959 |
||||||||||||||||||||||||||||||||||||
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Qualification: |
Masters in MGMT-REMSSELAER Polytech |
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Date of Appointment : |
25.11.2013 |
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DIN No.: |
06758175 |
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Other
directorship:
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|||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Keith Dwayne Stephenson |
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Designation : |
Additional Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
16975, Timberlake’s, Dr Fort Myers, Florida 33908, US |
||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
24.07.1960 |
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Qualification: |
PG Masters |
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Date of Appointment : |
16.03.2015 |
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DIN No.: |
00430495 |
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Other
directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Vivek Jain |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
%age |
|
Magnum Elastomers Private Limited, India |
7498058 |
50.00 |
|
Cooper Standard France, France |
7498058 |
50.00 |
|
Total |
14996116 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 31.03.2016
|
Category |
Percentage |
|
Promoters (Indian-Bodies corporate) |
50.00 |
|
Promoters (Foreign-Bodies corporate) |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, selling, engineering, designing, assembling, testing, marketing, distributing, servicing and dealing in, directly or indirectly, anti-vibration systems parts for automobiles such as, without limitation, engine suspension parts, chassis suspension parts, strut mounts, assemblies including plastic parts etc. (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 : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Rohira Mehta and Associates Chartered Accountants |
|
Address : |
B 202, Grandbelle Vista, Near Jari Mari Temple, SV Road, Bandra (West), Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIPR8005L |
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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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|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : (As on 31.03.2016) |
· Cooper Standard France · Magnum Elastomers Private Limited, India [CIN No:U25190MH1994PTC079883] · Mega Rubber Technologies Private Limited, India [CIN No:U25110MH1995PTC084554] · Polyrub Extrusions (India) Private Limited, India [CIN No:U25110MH2005PTC156873] · Tee Vee Tools ENGG Industries · Sujan Industries |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
||
|
|
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14996116 |
Equity Shares |
INR 10/- each |
INR 149.961
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
149.961 |
149.961 |
149.961 |
|
(b) Reserves & Surplus |
103.464 |
83.325 |
61.080 |
|
(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) |
253.425 |
233.286 |
211.041 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
82.393 |
42.167 |
66.592 |
|
(b) Deferred tax liabilities (Net) |
4.593 |
3.398 |
6.080 |
|
(c) Other long term
liabilities |
24.449 |
0.519 |
0.439 |
|
(d) Long-term
provisions |
1.124 |
1.388 |
0.251 |
|
Total Non-current
Liabilities (3) |
112.559 |
47.472 |
73.362 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
186.695 |
119.080 |
61.922 |
|
(b) Trade
payables |
156.634 |
153.603 |
166.227 |
|
(c) Other
current liabilities |
34.754 |
65.899 |
132.874 |
|
(d) Short-term
provisions |
36.557 |
26.416 |
0.500 |
|
Total Current
Liabilities (4) |
414.640 |
364.998 |
361.523 |
|
|
|
|
|
|
TOTAL |
780.624 |
645.756 |
645.926 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
207.349 |
165.472 |
149.233 |
|
(ii)
Intangible Assets |
30.811 |
35.803 |
49.392 |
|
(iii)
Capital work-in-progress |
1.022 |
0.000 |
13.667 |
|
(iv)
Intangible assets under development |
36.819 |
0.000 |
3.724 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
14.848 |
10.293 |
12.856 |
|
(e) Other
Non-current assets |
25.201 |
0.768 |
1.260 |
|
Total Non-Current
Assets |
316.050 |
212.336 |
230.132 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.404 |
54.640 |
61.387 |
|
(c) Trade
receivables |
357.042 |
327.425 |
285.114 |
|
(d) Cash and
cash equivalents |
2.342 |
33.668 |
17.849 |
|
(e)
Short-term loans and advances |
20.570 |
14.884 |
50.008 |
|
(f) Other
current assets |
3.216 |
2.803 |
1.436 |
|
Total
Current Assets |
464.574 |
433.420 |
415.794 |
|
|
|
|
|
|
TOTAL |
780.624 |
645.756 |
645.926 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1009.847 |
875.542 |
692.882 |
|
|
Other Income |
1.279 |
5.889 |
0.276 |
|
|
TOTAL |
1011.126 |
881.431 |
693.158 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
557.956 |
517.659 |
436.92 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.474) |
5.357 |
(19.259) |
|
|
Employees benefits
expense |
77.999 |
85.128 |
81.774 |
|
|
Other expenses |
268.743 |
162.329 |
121.091 |
|
|
TOTAL |
897.224 |
770.473 |
620.526 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
113.902 |
110.958 |
72.632 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
32.376 |
19.978 |
16.877 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
81.526 |
90.980 |
55.755 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
49.681 |
57.493 |
49.319 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
31.845 |
33.487 |
6.436 |
|
|
|
|
|
|
|
Less |
TAX |
11.005 |
11.243 |
2.882 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
20.840 |
22.244 |
3.554 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
23.441 |
1.197 |
(2.356) |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Appropriation towards
Gratuity Fund |
0.700 |
0.000 |
0.001 |
|
|
Transfer to General
Reserves |
2.084 |
0.000 |
0.000 |
|
|
Balance Carried to the
B/S |
41.497 |
23.441 |
1.197 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1.445 |
0.982 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
21.925 |
3.215 |
3.215 |
|
|
Capital Goods |
15.945 |
0.347 |
0.347 |
|
|
TOTAL IMPORTS |
37.870 |
3.562 |
3.562 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1.39 |
1.48 |
0.24 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
25.877 |
23.844 |
28.630 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
27.068 |
59.209 |
(7.947) |
|
Net cash flow from operating activity |
17.257 |
73.133 |
(16.770) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
129.05 |
136.50 |
150.19 |
|
|
|
|
|
|
Account Receivables Turnover ( Income / Sundry Debtors) |
2.83 |
2.67 |
2.43 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
102.47 |
108.31 |
138.86 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.40 |
2.03 |
1.18 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.41 |
0.55 |
0.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.67 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.16 |
0.79 |
0.74 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.64 |
1.56 |
1.71 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.09 |
0.86 |
1.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.52 |
5.55 |
4.30 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales)
* 100] |
% |
2.06 |
2.54 |
0.51 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.67 |
3.44 |
0.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
8.22 |
9.54 |
1.68 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.12 |
1.19 |
1.15 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.92 |
1.04 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.36 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.97 |
1.23 |
1.05 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.12 |
1.19 |
1.15 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
149.961 |
149.961 |
149.961 |
|
Reserves & Surplus |
61.080 |
83.325 |
103.464 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
211.041 |
233.286 |
253.425 |
|
|
|
|
|
|
long-term borrowings |
66.592 |
42.167 |
82.393 |
|
Short term borrowings |
61.922 |
119.080 |
186.695 |
|
Current Maturities of
Long term debt |
28.630 |
23.844 |
25.877 |
|
Total borrowings |
157.144 |
185.091 |
294.965 |
|
Debt/Equity ratio |
0.745 |
0.793 |
1.164 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
692.882 |
875.542 |
1009.847 |
|
|
|
26.362 |
15.340 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
692.882 |
875.542 |
1009.847 |
|
Profit/(Loss) |
3.554 |
22.244 |
20.840 |
|
|
0.51% |
2.54% |
2.06% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
No |
|
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUND AND NATURE
OF OPERATIONS (As on 31.03.2016)
The company formerly known as Sujan Barre Thomas Anti Vibration Systems Private Limited, is a Company domiciled in India and incorporated under the provisions of the Companies Act,1956 as on August 12, 2008 as a private limited company. The Company is engaged primarily in the business of Antivibration Systems Parts for Automobiles.
REVIEW OF
OPERATIONS: (As on 31.03.2016)
The Company has recorded income from operations of INR 1009.847 Million as
compared to INR 875.542 Million achieved during the corresponding period in
previous year representing a growth of 15.3%. But, due to increased Finance
cost, despite lower cost of operations, the operating profits and cash flow
position did not show a significant improvement.
However, the year was a satisfying one given the intense competition in
the market requiring the company to really tighten its belts.
FUTURE OUTLOOK (As
on 31.03.2016)
At the macro-economic level, the passage of the 122nd Amendment to the
Constitution on 3rd August, 2016 is a major milestone for the Indian economy
and the Government has set a target for implementation of 1st April, 2017,
which as and when is rolled out, is expected to significantly benefit many
sectors in the economy and especially for the Automobile sector, where the
impact should be positive.
The major OEM’s in India have announced expansion plans and there are
also new entrants into the Indian market, all of which indicate the global
preference to set up manufacturing hubs in India. Renault Nissan’s new platform
at the entry level has been successful, though delayed due to Chennai rains.
The new launches of other automobile majors such as GM, Ford, and Mahindra have
been successful. The Company expects significant business from Ford and
Mahindra in the years to come. The Company has also successfully converted the
RFQ’s of Fiat and Volkswagen.
With the emphasis of the government on “Make in ndia” and “Ease of Doing
Business”, the scenario is positive for a company like ours, which 96believes
in excellence in performance. In line with the emerging trends, the company’s
decision to set up manufacturing facility in Hour, has started to provide
significant business contributing to the top line. The company will relentlessly
pursue growth strategies in line with the emerging trends and make positive
efforts to encash the benefits for its stakeholders.
UNSECURED LOAN
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
32.825 |
30.936 |
|
Total |
32.825 |
30.936 |
INDEX
OF CHARGES
|
Charges Registered |
||||||||
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G35877885 |
100077288 |
KOTAK MAHINDRA BANK LIMITED |
25/01/2017 |
- |
- |
170000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex,
Bandra (E),MumbaiMa400051IN |
|
2 |
G39284351 |
100085730 |
YES BANK LIMITED |
28/12/2016 |
- |
- |
50000000.0 |
nehru centre, 9th floor, discovery of
indiaDr. Annie Besant Road, WorliMumbaiMH400056IN |
|
3 |
G81596587 |
10627803 |
YES BANK LIMITED |
11/03/2016 |
15/02/2018 |
- |
355000000.0 |
nehru centre, 9th floor, discovery of indiaDr.
Annie Besant Road, WorliMumbaiMH400056IN |
|
4 |
G35960780 |
10272468 |
State Bank of India |
04/01/2011 |
21/04/2014 |
14/02/2017 |
175000000.0 |
MIDC, Andheri (East) Branch,Marol Central
Road, Andheri (East),MumbaiMH400093IN |
|
5 |
G28851947 |
10593672 |
SBI GLOBAL FACTORS LIMITED |
27/01/2015 |
- |
28/11/2016 |
40000000.0 |
6TH FLOOR, METROPOLITAN BUILDING,
BANDRA-KURLACOMPLEX, BANDRA(EAST)MUMBAIMH400051IN |
|
6 |
G02661825 |
10602238 |
KOTAK MAHINDRA BANK LIMITED |
08/09/2015 |
- |
22/03/2016 |
250000000.0 |
27BKC, C 27, G BlockBandra Kurla Complex,
Bandra (E),MumbaiMH400051IN |
FIXED ASSETS
Tangible assets
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
· Leasehold improvements
Intangible assets
· Brands and trade marks
· Computer software
· Designs
· Copyrights
· Patents
· Other operating rights
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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 |
|
|
1 |
INR 91.74 |
|
Euro |
1 |
INR 79.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
ARC |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
SUD |
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.