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|
MIRA INFORM REPORT
|
Report No. : |
503608 |
|
Report Date : |
14.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
KSPG AUTOMOTIVE INDIA PRIVATE LIMITED (w.e.f. 21.04.2011) |
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Formerly Known
As : |
PIEBURG INDIA PRIVATE LIMITED |
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Registered
Office : |
Gat No. 380, Village Takwe Budruk, Taluka Maval, Pune –
412106, Maharashtra |
|
Tel. No.: |
91-211-4307500/ 510 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
26.10.2006 |
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Com. Reg. No.: |
11-129901 |
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Capital
Investment / Paid-up Capital : |
INR 473.311 Million |
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CIN No.: [Company Identification
No.] |
U74140PN2006FTC129901 |
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IEC No.: [Import-Export
Code No.] |
0306093022 |
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GSTN : [Goods & Service Tax
Registration No.] |
27AAECP0264G1ZL |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECP0264G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacture and sale of automotive pumps, exhaust gas recirculation valve (EGR), bearings and sub-assemblies to automobile original equipment manufacturers (OEMs) and for the after-sales market, predominantly in India). [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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
The company was incorporated in the year 2006. “KSPG
Netherlands Holding BV, Netherlands in the major shareholder of the company. It is engaged in the manufacture and sale of automotive pumps, exhaust
gas recirculation valve (EGR), bearings and sub-assemblies to automobile
original equipment manufacturers (OEMs) and for the after-sales market,
predominantly in India). For the financial year 2017, the company has achieved 21.08% growth in
its revenue as compared to previous year revenue but has incurred operational
loss. The sound financial profile of the company is marked by healthy
networth base along with negligible debt level. The rating takes into consideration strong financial and managerial
support that the company receives from its major shareholder entity backed by
its well experienced management team. Business is active. Payment seems to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
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 14.04.2018
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. Avinash Ghewde |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9011090820 |
|
Date : |
13.04.2018 |
MANAGEMENT NON-COOPERATIVE (91-211-4307500)
LOCATIONS
|
Registered Office / Factory: |
Gat No. 380, Village Takwe Budruk, Taluka Maval, Pune – 412106,
Maharashtra, India |
|
Tel. No.: |
91-211-4307500/ 510 |
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Mobile No.: |
91-9011090820 (Mr. Avinash Ghewde) |
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Fax No.: |
91-211-4307510 |
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E-Mail : |
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Website : |
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Manufacturing
facilities: |
located in Pune and Supa |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ratankumar Rajkishor Mohapatra |
|
Designation : |
Managing Director |
|
Address : |
D1, 202, Lunkad Gold, Coast, Viman Nagar, Pune – 411014, Maharashtra,
India |
|
Date of Birth/Age : |
18.05.1965 |
|
Qualification : |
BE Mechanical |
|
Date of Appointment : |
21.06.2013 |
|
DIN No.: |
06613369 |
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|
|
|
Name : |
Mr. Manas Ashish Bhatta |
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Designation : |
Whole-time Director |
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Address : |
504, Amathyst Nyati Empire Kharadi Byepass, Near Columbia Asia Hospital, Kharadi, Pune-411014, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1973 |
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Qualification : |
Graduate |
|
Date of Appointment : |
18.01.2017 |
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DIN No.: |
07023379 |
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|
|
|
Name : |
Jochen Hintze |
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Designation : |
Director |
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Address : |
Ilsfelder Weg 21 Beilstein 71717 DE |
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Date of Birth/Age : |
10.10.1957 |
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Qualification : |
Graduate |
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Date of Appointment : |
24.06.2015 |
|
DIN No.: |
01762243 |
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|
|
|
Name : |
Rene Christian Gansauge |
|
Designation : |
Director |
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Date of Appointment : |
01.01.2018 |
|
DIN No.: |
03272592 |
KEY EXECUTIVES
|
Name : |
Mr. Bharati N Shah |
|
Designation : |
Company Secretary |
|
Address : |
U-102, Roseland Residency, Gate No. 4 Kunal Icon Road, Shivar Chawk, Pimple Sa Udagar, Pune – 411027, Maharashtra, India |
|
Date of Appointment : |
19.04.2016 |
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PAN No.: |
BJAPS2718F |
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|
|
|
Name : |
Mr. Avinash Ghewde |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
KSPG AG, Germany |
|
1 |
|
KSPG Netherlands Holding BV, Netherlands |
|
47331134 |
|
Total |
|
47331135 |
AS ON 19.06.2017
|
Names of Shareholders |
|
No. of Shares |
|
KSPG Netherlands Holding BV, Netherlands |
|
3514110 |
|
Total |
|
3514110 |
Equity Share Break up (Percentage of Total Equity)
AS ON 31.08.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture and sale of automotive pumps, exhaust gas recirculation valve (EGR), bearings and sub-assemblies to automobile original equipment manufacturers (OEMs) and for the after-sales market, predominantly in India.). [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
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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Name : |
Price Waterhouse LLP Chartered Accountants |
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Address : |
7th Floor Tower A - Wing 1, Business Bay, Airport Road, Yeravda, Pune, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFP3698A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
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Intermediate
holding company: |
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Intermediate
holding company: |
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Intermediate
holding company: |
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Ultimate holding
company: |
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Enterprises
under common control/ fellow subsidiaries (with whom transactions have been entered
during the year): |
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CAPITAL STRUCTURE
AFTER 31.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101000000 |
Equity Shares |
INR 10/- each |
INR 1010.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50845244 |
Equity Shares |
INR 10/- each |
INR 508.452 Million |
|
|
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AS ON 31.08.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
101000000 |
Equity Shares |
INR 10/- each |
INR 1010.000 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47331135 |
Equity Shares |
INR 10/- each |
INR 473.311 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
473.311 |
473.311 |
416.718 |
|
(b) Reserves &
Surplus |
1258.978 |
1412.036 |
1309.981 |
|
(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) |
1732.289 |
1885.347 |
1726.699 |
|
|
|
|
|
|
(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 |
7.790 |
|
(d) long-term provisions |
180.554 |
175.383 |
190.826 |
|
Total Non-current
Liabilities (3) |
180.554 |
175.383 |
198.616 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1583.080 |
994.091 |
703.850 |
|
(b) Trade payables |
809.441 |
662.346 |
505.088 |
|
(c) Other current
liabilities |
253.081 |
249.199 |
188.504 |
|
(d) Short-term provisions |
49.999 |
52.483 |
31.998 |
|
Total Current Liabilities
(4) |
2695.601 |
1958.119 |
1429.440 |
|
|
|
|
|
|
TOTAL |
4608.444 |
4018.849 |
3354.755 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2357.079 |
1582.228 |
1591.296 |
|
(ii) Intangible Assets |
11.127 |
51.693 |
129.086 |
|
(iii) Capital
work-in-progress |
425.146 |
714.367 |
0.000 |
|
(iv) Intangible assets
under development |
134.822 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
287.314 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
136.482 |
242.712 |
176.032 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3064.656 |
2591.000 |
2183.728 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
539.226 |
578.438 |
424.741 |
|
(c) Trade receivables |
689.751 |
524.414 |
433.645 |
|
(d) Cash and cash
equivalents |
16.273 |
68.282 |
80.446 |
|
(e) Short-term loans and
advances |
244.490 |
256.715 |
232.195 |
|
(f) Other current assets |
54.048 |
0.000 |
0.000 |
|
Total Current Assets |
1543.788 |
1427.849 |
1171.027 |
|
|
|
|
|
|
TOTAL |
4608.444 |
4018.849 |
3354.755 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3754.770 |
3101.103 |
2535.986 |
|
|
Other Income |
71.697 |
11.167 |
8.222 |
|
|
TOTAL |
3826.467 |
3112.270 |
2544.208 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2012.559 |
1713.713 |
1347.132 |
|
|
Purchases of
Stock-in-Trade |
35.546 |
30.384 |
24.178 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
36.669 |
(86.851) |
(43.496) |
|
|
Employees benefits
expense |
573.519 |
501.050 |
489.896 |
|
|
Other expenses |
941.801 |
766.652 |
653.824 |
|
|
TOTAL |
3600.094 |
2924.948 |
2471.534 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
226.373 |
187.322 |
72.674 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
117.362 |
95.999 |
89.288 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
109.011 |
91.323 |
(16.614) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
262.069 |
266.575 |
262.296 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
(153.058) |
(175.252) |
(278.910) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(153.058) |
(175.252) |
(278.910) |
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
NA |
(1392.858) |
(1138.097) |
|
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
NA |
(1568.110) |
(1392.858) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
375.938 |
413.150 |
366.489 |
|
|
TOTAL EARNINGS |
375.938 |
413.150 |
366.489 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
850.602 |
782.938 |
NA |
|
|
Components and Stores
parts |
5.175 |
6.555 |
NA |
|
|
Capital Goods |
7.047 |
95.956 |
NA |
|
|
TOTAL IMPORTS |
862.824 |
885.449 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(3.23) |
(3.70) |
(6.58) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
88.486 |
(9.308) |
(278.910) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
204.223 |
85.840 |
(278.910) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
67.05 |
61.72 |
62.41 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.44 |
5.91 |
5.85 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
144.25 |
138.61 |
134.44 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.42 |
0.32 |
0.17 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.08 |
0.08 |
0.04 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.58 |
0.49 |
0.43 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.91 |
0.53 |
0.41 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.56 |
1.04 |
0.83 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.69 |
1.25 |
1.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.93 |
1.95 |
0.81 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(4.08) |
(5.65) |
(11.00) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(3.32) |
(4.36) |
(8.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(8.84) |
(9.30) |
(16.15) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.57 |
0.73 |
0.82 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.37 |
0.43 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.38 |
0.47 |
0.51 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.34 |
2.10 |
1.69 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.57 |
0.73 |
0.82 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
416.718 |
473.311 |
473.311 |
|
Reserves & Surplus |
1309.981 |
1412.036 |
1258.978 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1726.699 |
1885.347 |
1732.289 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
0.000 |
|
Short Term borrowings |
703.850 |
994.091 |
1583.080 |
|
Total
borrowings |
703.850 |
994.091 |
1583.080 |
|
Debt/Equity
ratio |
0.408 |
0.527 |
0.914 |
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
|
2535.986 |
3101.103 |
3754.770 |
|
|
|
22.284 |
21.079 |
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
|
2535.986 |
3101.103 |
3754.770 |
|
Profit |
(278.910) |
(175.252) |
(153.058) |
|
|
(11.00%) |
(5.65%) |
(4.08%) |
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 |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE: NO CHARGES EXISTS FOR COMPANY
CORPORATE INFORMATION
Subject was in
October 26, 2006 and is engaged in the manufacture and sale of automotive
pumps, exhaust gas recirculation valve (EGR), bearings and sub-assemblies to
automobile original equipment manufacturers (OEMs) and for the after-sales
market, predominantly in India. The Company operates from two manufacturing
facilities located in Pune and Supa. During the year manufacturing facility at
Ahmednagar has been relocated to Supa. During the financial year ended March
31, 2012, the Company acquired Bearings business division from Kirloskar Oil
Engines Limited, with effect from October 1, 2011.
THE STATE OF COMPANY AFFAIRS:
During the
financial year, the company’s total revenue increased by 23% driven by growth
from EGR business in existing products (Increase in volumes of Solenoid EGR to
Maruti Suzuki and Electronic Throttle body to Ford) and as well as introduction
of new products from the Mechatronics division towards BS IV emission changes
and dedicated efforts to sustain market share by the Bearings division.
The company is
focused on to exploit the predicted growth in the automobile segment and with
the changes in Emission standards from BS IV to BS VI in 2020 and CAFE norms
(Fuel Economy regulations on CO2 reductions). As per IHS data, the Engine
production for Passenger cars and Light commercial vehicles is expected to grow
at a CAGR of 8.1% from 4.4 Million units in 2017 to 6.1 Million units in 2021.
The Truck market (medium and commercial vehicles segment) is expected to grow
at a CAGR of 8.8% from 370 Thousand units in 2017 to 530 Thousand units in
2021.
The company
expects to be a significant beneficiary of changes in the Emission standards
from BS IV to BS VI to be implemented by 2020 and CAFE norms expected to be
implemented in 2021-2022. The company is in active participation with major
OEM’s like Tata, Mahindra, Ashok Leyland, Volvo Eicher, Maruti Suzuki for new
engine programs in Emissions changes and changes in CAFE norms.
The introduction
of GST and the thrust of the central government on promotion of industry,
development of infrastructure are welcome. The Directors expect Auto Sector too
would be the beneficiary of such measures.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from banks |
1583.080 |
994.091 |
|
Total |
1583.080 |
994.091 |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
Intangible assets
- Brands and trade marks
- Trade marks
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHL |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.