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|
|
MIRA INFORM REPORT
|
Report No. : |
503106 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
VOLKSWAGEN GROUP SALES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Silver Utopia, 3rd and 4th Floor, Cardinal Gracious Road, Chakala, Andheri (East), Mumbai - 400099, Maharashtra |
|
Tel. No.: |
91-22-33137000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
07.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168439 |
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|
|
|
Capital
Investment / Paid-up Capital : |
INR 2042.240 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50401MH2007FTC168439 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0307020401 |
|
|
|
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GSTN : [Goods & Service Tax Registration
No.] |
27AACCV4413F1ZK |
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|
|
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TIN No.: |
27490616162 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCV4413F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
· Sales, After-sales and Marketing of Volkswagen group vehicles and related service products in India through authorized dealers and service providers. [Registered Activity] ·
Wholesaler, Supplier, Distributor and Exporter
of Volkswagen, Audi, Porsche and Lamborghini brand cars and related spare
parts/ accessories. [Confirmed by Management] |
|
|
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject was incorporated in 2007 and is a part of Volkswagen Group. It is a subsidiary of Volkswagen Finance Luxemburg SA, Luxemburg. The company is the sales and marketing arm for the Volkswagen, Audi, Porsche, Skoda and Lamborghini brands in India. As per the Registrar of Companies date of balance sheet (i.e. financial filed) is shown as 31.03.2017 but documents related to the financial for the year 31.03.2017 are not available from any sources. For the financial year ended 2016, revenue of the company has marginally declined by 0.61% and has reported average profit margin of 1.04% during the year under review. Rating continues to reflect strong operational and financial support from Volkswagen Group and strategic importance for parent entity to develop Indian operation as export hub for small and mid-size cars. Being wholly owned subsidiary, the company has access to technology and product portfolio of VW AG, the world’s second largest passenger car manufacturer by volume. Rating also favorably factors in strong liquidity profile of the company in the form of sizeable cash surplus and adequate net worth base. However, rating strength is partially offset by high competitive intensity in domestic PV market marked by large dealership and service network of entrenched players which also lends them competitive advantage and VW-India’s modest product portfolio especially in compact/small car segment which constitute major share of overall Indian PV market. Business is active. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Terms Loans=AA+ |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
01.05.2017 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Loans=A1+ |
|
Rating Explanation |
Very Strong degree of safety and carry
lowest credit risk |
|
Date |
01.05.2017 |
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
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-22-33137000)
LOCATIONS
|
Registered/ Corporate Office : |
Silver Utopia, 3rd and 4th Floor, Cardinal Gracious Road, Chakala, Andheri (East), Mumbai - 400099, Maharashtra, India |
|
Tel. No.: |
91-22-33137000 |
|
Fax No.: |
91-22-33137201 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
E-1, MIDC Industrial Area, Phase III, Village Nigoje Mhalunge Kharabwadi Chakan, Tal Khed, Pune-410501, Maharashtra, India |
|
Tel. No.: |
91-2135-661046 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Steffen Knapp |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 13, Vinrita Prof. Almeida Road, Bandra West, Mumbai-400050, Maharashtra, India |
|
Date of Appointment : |
22.09.2017 |
|
DIN No.: |
07944544 |
|
|
|
|
Name : |
Mr. Michael Friedrich Steinkamp |
|
Designation : |
Director |
|
Address : |
Flat No. 1002, 10th Floor, Chitra Condominimum, West Avenue, Santacruz West, Mumbai - 400054, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1956 |
|
Qualification : |
Professional |
|
Date of Appointment : |
09.10.2015 |
|
DIN No.: |
07303895 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay Somnath Kamath |
|
Designation : |
Company Secretary |
|
Address : |
D-605, Sai Smruti, Sai - Aasha CHS Limited Gavanpada
Road,Near Neelam Nagar,Phase-II, Mulund (East), Mumbai-400081, Maharashtra,
India |
|
Date of Birth/Age : |
04.07.1976 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No.: |
AKSPK6665R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Volkswagen Finance Luxemburg SA, Luxemburg |
|
18419737 |
|
Volkswagen A.G., Germany |
|
1 |
|
|
|
|
|
Total |
|
18419738 |
|
Names of Shareholder (Preference Shares) |
|
No. of Shares |
|
Volkswagen A.G., Germany |
|
185804330 |
|
|
|
|
|
Total |
|
185804330 |
AS ON 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters
– Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
· Sales, After-sales and Marketing of Volkswagen group vehicles and related service products in India through authorized dealers and service providers. [Registered Activity] ·
Wholesaler, Supplier, Distributor and Exporter
of Volkswagen, Audi, Porsche and Lamborghini brand cars and related spare
parts/ accessories. [Confirmed by Management] |
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Products : |
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Brand Names : |
BRANDS · Volkswagen Passenger Cars · Audi · Bentley · Bugatti · Lamborghini · Porsche · Scania · SEAT · SKODA · Volkswagen Commercial Vehicles (Volkswagen Nutzfahrzeuge) · Man MODELS · Ameo · Polo · Polo GT · Cross Polo · New Vento · Jetta · The 21st Century Beetle · Volkswagen GTI · New Volkswagen Tiguan |
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Divulged |
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||||
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Imports : |
Not Divulged |
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||||
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Terms : |
|
||||
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Selling : |
Not Divulged |
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||||
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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 : |
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Facilities : |
--- |
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Bangalore LLP Chartered Accountants |
|
Address : |
252, Veer Sarvarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFP9359L |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Volkswagen Finance Luxemburg SA from 28th August, 2014 |
|
|
|
|
Ultimate Holding Company : |
Porsche Automobile Holding SE |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
Volkswagen AG, Germany |
|
|
|
|
Others Related Party : |
Volkswagen International Finance NV |
|
|
|
|
Fellow Subsidiary Companies : |
· Porsche Middle East and Africa FZE · Volkswagen India Private Limited, India [U70102PN2007FTC133117] · Skoda Auto India Private Limited, India [U34100MH1999PTC123254] · Volkswagen Finance Private Limited, India [U65999MH2009FTC189640] · Volkswagen Commercial Vehicles · Porsche AG · Audi AG ·
Volkswagen De Mexico SA de CV · Automobili Lamborghini S.p.A. · Volkswagen Zubehor GMBH · Audi Quattro Gmbh · Skoda Auto a.s. · Porsche Lizenz-und Handelsges mbh · Volkswagen Logistics Gmbh · Volkswagen Group UK Limited · Audi Akademie GMBH · Volkswagen Coaching Gmbh · Volkswagen Procurement Services GmbH · Volkswagen of South Africa Pty Limited · Group Volkswagen France SA · Audi VG mbh · Volkswagen Group Japan · Volkswagen Shanghai · Lease Plan India Private Limited, India [U74899DL1983PTC015230] · Audi Austrelia · Audi Volkswagen Korea · Volkswagen Group Import 9china0 CO. ·
Audi Malaysia |
CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
INR 10/- each |
INR 184.197 Million |
|
185804330 |
Preference Shares |
INR 10/- each |
INR 1858.043 Million |
|
|
|
|
|
|
|
Total |
|
INR 2042.240
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18419738 |
Equity Shares |
INR 10/- each |
INR 184.197 Million |
|
185804330 |
Preference Shares |
INR 10/- each |
INR 1858.043 Million |
|
|
|
|
|
|
|
Total |
|
INR 2042.240
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 |
2042.240 |
2042.240 |
2042.240 |
|
(b) Reserves and Surplus |
3482.140 |
2646.380 |
1697.700 |
|
(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) |
5524.380 |
4688.620 |
3739.940 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
2105.390 |
1792.060 |
1449.130 |
|
Total Non-current
Liabilities (3) |
2105.390 |
1792.060 |
1449.130 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
5901.710 |
2060.630 |
5374.100 |
|
(b) Trade
payables |
7195.460 |
7685.970 |
6229.980 |
|
(c) Other
current liabilities |
941.120 |
1129.860 |
1984.700 |
|
(d) Short-term
provisions |
1328.740 |
1645.970 |
935.090 |
|
Total Current
Liabilities (4) |
15367.030 |
12522.430 |
14523.870 |
|
|
|
|
|
|
TOTAL |
22996.800 |
19003.110 |
19712.940 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
838.090 |
1033.960 |
1112.600 |
|
(ii)
Intangible Assets |
179.100 |
135.350 |
181.200 |
|
(iii) Tangible assets
capital work-in-progress |
48.530 |
21.140 |
40.320 |
|
(iv)
Intangible assets under development |
45.280 |
45.280 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
768.450 |
688.380 |
547.780 |
|
(d)
Long-term
loans and advances |
4990.120 |
7079.450 |
4450.900 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6869.570 |
9003.560 |
6332.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3013.870 |
3175.920 |
3660.030 |
|
(c) Trade
receivables |
2388.330 |
2561.850 |
3676.410 |
|
(d) Cash and bank
balances |
936.290 |
1955.620 |
1483.810 |
|
(e)
Short-term loans and advances |
1570.760 |
465.500 |
2064.640 |
|
(f) Other current
assets |
8217.980 |
1840.660 |
2495.250 |
|
Total
Current Assets |
16127.230 |
9999.550 |
13380.140 |
|
|
|
|
|
|
TOTAL |
22996.800 |
19003.110 |
19712.940 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
80619.610 |
81111.270 |
80616.250 |
|
|
Other Income |
1146.790 |
1077.820 |
1192.110 |
|
|
TOTAL |
81766.400 |
82189.090 |
81808.360 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
66193.070 |
67131.830 |
69270.420 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
162.050 |
484.110 |
322.750 |
|
|
Employee benefit expense |
1237.450 |
1162.280 |
1068.030 |
|
|
Other expenses |
12037.290 |
10961.430 |
9412.870 |
|
|
TOTAL |
79629.860 |
79739.650 |
80074.070 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2136.540 |
2449.440 |
1734.290 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
383.400 |
415.610 |
708.940 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1753.140 |
2033.830 |
1025.350 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
501.230 |
495.470 |
472.460 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1251.910 |
1538.360 |
552.890 |
|
|
|
|
|
|
|
Less |
TAX |
416.150 |
589.680 |
258.180 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
835.760 |
948.680 |
294.710 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
45.37 |
51.50 |
16.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(3206.820) |
4681.940 |
2715.160 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(4407.870) |
4338.060 |
2594.490 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
10.81 |
11.53 |
16.65 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
33.76 |
31.66 |
21.93 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
39.68 |
41.79 |
32.83 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.71 |
0.77 |
0.47 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.92 |
1.98 |
1.30 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.66 |
0.74 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.07 |
0.44 |
1.44 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.78 |
2.67 |
3.88 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.20 |
0.26 |
0.36 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.57 |
5.89 |
2.45 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.04 |
1.17 |
0.37 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.63 |
4.99 |
1.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.13 |
20.23 |
7.88 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.05 |
0.80 |
0.92 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.85 |
0.54 |
0.67 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.25 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.89 |
1.01 |
2.63 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.05 |
0.80 |
0.92 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL DATA
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
2042.240 |
2042.240 |
2042.240 |
|
Reserves & Surplus |
1697.700 |
2646.380 |
3482.140 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3739.940 |
4688.620 |
5524.380 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
5374.100 |
2060.630 |
5901.710 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
5374.100 |
2060.630 |
5901.710 |
|
Debt/Equity
ratio |
1.437 |
0.439 |
1.068 |
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 |
80616.250 |
81111.270 |
80619.610 |
|
|
|
0.614 |
(0.606) |
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 |
80616.250 |
81111.270 |
80619.610 |
|
Profit/ (Loss) |
294.710 |
948.680 |
835.760 |
|
|
0.37
% |
1.17
% |
1.04
% |
LEGAL CASES
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
PRESENTATION
DATE:- 03.01.2018 |
|
LODGING NO: CHSL/3/2018
FILING DATE: 03.01.2018 |
|
Main Matter LODGING NO: ARBPL/589/2016
REG. NO: ARBP/752/2016 |
|
PETITIONER:
ESSENN AUTOMOTIVE PRIVATE LIMITED RESPONDENT: VOLKSWAGEN
GROUP SALES INDIA PRIVATE LIMITED
Resp. Adv:- Khaitan and Co (I955)
DISTRICT: OUTSIDE MAHARASHTRA |
|
BENCH: SINGLE STATUS: PRE-ADMISSION CATEGORY:
CHAMBER SUMMONS IN EXECUTION Last Date: 10.01.2018
Stage: Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|
ACT: Arbitration and
Conciliation Act 1996 |
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 |
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 |
Yes |
|
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 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
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 |
31.03.2016 (INR
In Million) |
31.03.2015 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
2221.210 |
1910.630 |
|
Loans and advances from related parties |
3680.500 |
150.000 |
|
Total |
5901.710 |
2060.630 |
MARKET / BUSINESS OVERVIEW
During the period ended 31st March 2016, the Company has sold 41,059 Volkswagen Passenger Cars, 10,074 Audi Vehicles, 413 Porsche Vehicles, 25 Lamborghini Vehicles, 7 Used Company Cars as a result of which the company could achieve sales revenue of INR 80619.610 Million, this includes turnover of spare parts, accessories, transport cost recovery and tools. The company is optimistic of achieving higher sales figures in the forthcoming year.
PROFIT FROM OPERATIONS
During the year, the Company has made a net profit of INR 835.749 Million after tax.
FIXED ASSETS:
Tangible Assets
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
PRESS RELEASE :
NEW VOLKSWAGEN PASSAT 2017 LAUNCHED; PRICE IN INDIA STARTS AT INR 2.999
MILLION (EX-SHOWROOM)
Oct 10, 2017
Volkswagen, a popular German car brand has finally launched the much awaited luxury sedan – Passat in the country at INR 2.999 Million (ex-showroom). Based on Volkswagen’s popular MQB platform, the new Passat sedan from the house of Volkswagen is a perfect combination of style, performance and luxury. Available in two variant options – Comfortline & Highline, the all-new Passat luxury sedan gets 6 colour options – Oryx White Pearleffect, Deep Black Pearleffect, Black Oak Brown Mettalic, Pyrit Silver Metallic, Atlantic Blue Metallic and Mangan Grey Metallic. As the fact that the sedan is based on MQB platform, the all-new Passar is lighter by 70kgs in comparison to its predecessor.
Mr. Steffen Knapp, Director, Volkswagen Passenger Cars, Volkswagen Group Sales India Pvt. Ltd. said, “We are extremely pleased to launch the technologically advanced New Passat in India offering our customers a carline that is equipped with superior safety features and driving dynamics that the brand Volkswagen is known to offer across the industry. The Passat is renowned world over for its sheer performance, iconic style & rich heritage. With the launch of the Passat we will now have a portfolio with remarkable carlines across leading vehicle segments in the country.”
On the exterior front, the new Passat features a progressive
design strategy that proffers the car with a dynamic presence, sleek and
sophisticated appeal. On the side, the windows gets chrome moulding and bumpers
features decorative trims which gives a premium appeal to the profile. It also
gets Full LED headlights and taillights for better illumination by consuming
lesser energy.
The all-new Passat gets world class safety features which
include 9-airbags, ABS with EBD, ESP, ASR, Hill Start Assist, Auto Hold, tyre
pressure monitoring system as standard fitment. It also comes with additional
features such as dynamic chassis control, Park assist, Reverse camera with 360⁰
area view and more. The sedan also comes with premium features like Park Assist
that helps the driver by automatically the steering movements to reverse park
the vehicle on the ideal line.
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
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.94 |
|
|
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
IND |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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.