|
|
|
MIRA INFORM REPORT
|
Report No. : |
504399 |
|
Report Date : |
16.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
NSK INDIA SALES COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Block-I, TVH Beliciaa Towers, No.71/1, MRC Nagar Main Road, MRC Nagar, Chennai – 600028, Tamilnadu |
|
Tel. No.: |
91-44-28479600 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
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Date of
Incorporation : |
24.07.2007 |
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|
|
|
Com. Reg. No.: |
18-064307 |
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|
|
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Capital
Investment / Paid-up Capital : |
INR 2000.000 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U29130TN2007PTC064307 |
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|
|
|
IEC No.: [Import-Export Code No.] |
0407029460 |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
33AACCN5663R1ZW |
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TIN No.: |
33030963382 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCN5663R |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in the business of Trading and Marketing of Bearings and Related Products and also Provides Relates Support Services. (Registered Activity) |
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|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “NSK Limited”, Japan. It is an established company
incorporated in the year 2007 having satisfactory track. For the financial year ended 2017, revenue and profit of the company
has slightly declined. However, the company possesses an acceptable financial profile marked
by strong capital base along with debt
free balance sheet and favorable gap between trade payables to its trade
receivables. The company also derives strength from its holding company and its
experienced management. The rating strength is partially offset by some accumulated losses
registered by the company. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 16.04.2018.
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 : |
Accounts Department |
|
Contact No.: |
91-44-28479600 |
|
|
|
|
Name : |
Mr. Shashank |
|
Designation : |
Manager |
|
Contact No.: |
91-9910330469 |
LOCATIONS
|
Registered Office : |
2nd Floor, Block-I, TVH Beliciaa Towers, No.71/1, MRC Nagar Main Road, MRC Nagar, Chennai – 600028, Tamilnadu, India |
|
Tel. No.: |
91-44-28479600 |
|
Mobile No.: |
91-9910330469 [Mr. Shashank] |
|
Fax No.: |
91-44-28479601 |
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E-Mail : |
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|
Website : |
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|
|
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Branch Offices : |
Unit No-202, 2nd Floor, Block-A Iris Tech Park, Sector-48, Sohna Road, Gurugram-122018, Haryana, India Tel. No.: 91-124-4830000 Fax No.: 91-124-4104532 321, 'A' Wing, Ahura Centre, 82, Mahakali Caves Road, Andheri (East), Mumbai - 400093, Maharashtra, India Tel. No.: 91-22-28387787 Fax No.: 91-22-28385191 |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Ajit Krishnan |
|
|
Designation : |
Managing Director |
|
|
Address : |
Unit No.1, 17, Arch Bishop Math, IAS Avenue, Boat Club Road, RA Puram,
Chennai - 600028, Tamilnadu, India |
|
|
Date of Birth/Age : |
12.11.1958 |
|
|
Qualification : |
B.E,MBA |
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|
Date of Appointment : |
11.11.2013 |
|
|
DIN No. : |
01630599 |
|
|
|
|
|
|
Name : |
Mr. Akitoshi Ichii |
|
|
Designation : |
Director |
|
|
Address : |
MLS Apartments/ 9 (New), Dr. B Narssimhan Road, 2nd Street, T Nagar,
Chennai-600017, Tamilnadu, India |
|
|
Date of Birth/Age : |
08.05.1963 |
|
|
Qualification : |
Graduate |
|
|
Date of Appointment : |
25.09.2012 |
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|
DIN No.: |
05336693 |
|
|
|
|
|
|
Name : |
Mr. Katsumi Kobayashi |
|
|
Designation : |
Director |
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|
Address : |
2-5-32, Higashi, Hanyu, Saitama, Japan |
|
|
Date of Birth/Age : |
25.12.1960 |
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|
Qualification : |
Graduate |
|
|
Date of Appointment : |
11.11.2013 |
|
|
DIN No. : |
06737635 |
|
|
|
|
|
|
Name : |
Mr. Naokazu Tsuji |
|
|
Designation : |
Director |
|
|
Address : |
6th Floor, Bannari Amman Towers 29, Dr. Radha Krishnan Salai, Mylapore, Chennai – 600004, Tamilnadu, India |
|
|
Date of Birth/Age : |
29.03.1968 |
|
|
Qualification : |
Graduate |
|
|
Date of Appointment : |
07.10.2015 |
|
|
DIN No. : |
07340504 |
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|
|
|
|
|
Name : |
Mr. Natarajan Lakshminarayanan |
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|
Designation : |
Director |
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|
Address : |
34, Fourth Trust Cross Street, Mandavelli, Chennai – 600028, Tamilnadu, India |
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|
Date of Birth/Age : |
25.10.1964 |
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|
Qualification : |
Professional |
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|
Date of Appointment : |
21.09.2016 |
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|
DIN No. : |
00008692 |
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|
|
|
|
|
Name : |
Mr. Yasuhiro Kamio |
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Designation : |
Additional Director |
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|
Address : |
Naritahigashi, 2-21-4 Suginami - Ku Tokyo 1660015 Japan |
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|
Date of Birth/Age : |
22.07.1959 |
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|
Qualification : |
Graduate |
|
|
Date of Appointment : |
21.09.2016 |
|
|
DIN No. : |
01059349 |
|
|
|
|
|
|
Name : |
Mr. Hisaya Tabuchi |
|
|
Designation : |
Director |
|
|
Address : |
5F, V Floor, Kartic Dev Apartment, 17, Sundararrajan Street, Abhiramapuram, Chennai – 600018, Tamilnadu, India |
|
|
Date of Birth/Age : |
31.05.1965 |
|
|
Qualification : |
Graduate |
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|
Date of Appointment : |
21.09.2016 |
|
|
DIN No. : |
06805381 |
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|
|
|
|
|
Name : |
Hikomae Shinichi |
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Designation : |
Alternate Director |
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|
Address : |
Flat No.3, 3rd Floor, Green Anugrahaa, New No.11, Old No.5, First Street, Jagadambal Colony, Royapet Tah, Chennai – 600014, Tamilnadu, India |
|
|
Date of Birth/Age : |
10.11.1976 |
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|
Qualification : |
Graduate |
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|
Date of Appointment : |
01.03.2017 |
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|
DIN No. : |
07746973 |
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|
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|
Name : |
Mr. Shinozaki Satoru |
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Designation : |
Alternate Director |
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|
Address : |
Flat No 1, 65/32, Athithi, 1st Main Road, Indira Nagar, Adayar, Chennai – 600020, Tamilnadu, India |
|
|
Date of Birth/Age : |
20.01.1972 |
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|
Qualification : |
Graduate |
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|
Date of Appointment : |
01.03.2017 |
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|
DIN No. : |
07746976 |
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|
|
|
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|
Name : |
Mr. Ogasawara Hiroyuki |
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Designation : |
Alternate Director |
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|
Address : |
Flat G22, Nest Apartments, Off Cenotaph Road, 9 Rathina Nagar Main Road, Teynampet, Chennai – 600018, Tamilnadu, India |
|
|
Date of Birth/Age : |
12.06.1974 |
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|
Qualification : |
Graduate |
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|
Date of Appointment : |
01.03.2017 |
|
|
DIN No. : |
07747972 |
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KEY EXECUTIVES
|
Name : |
Mr. R. Senthil Kumar |
|
Designation : |
Company Secretary |
|
Address : |
15/110, II Floor, 4th Street, Karpagam Avenue, R A Puram, Chennai – 600028, Tamilnadu, India |
|
Date of Appointment : |
09.02.2015 |
|
PAN No.: |
AGEPR3885L |
|
|
|
|
Name : |
Mr. Satish |
|
Designation : |
Accounts Department |
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|
Name : |
Mr. Shashank |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
|
199980000 |
99.99 |
|
|
20000 |
0.01 |
|
|
|
|
|
Total |
200000000 |
100.00 |
AS ON: 01.06.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of Trading and Marketing of Bearings and Related Products and also Provides Relates Support Services. (Registered Activity) |
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Products/ Services : |
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Brand Names : |
“NSK” |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
--- |
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|
Auditors : |
|
|
Name : |
S.R. Batliboi and Associates LLP Chartered Accountants |
|
Address : |
6th and 7th Floor, "A" Block, Tidel Park, No.4, Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu, India |
|
PAN No.: |
ACHFS9118A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
NSK Limited, Japan |
|
|
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|
Fellow Subsidiaries : |
· NSK ASEAN and OCEANIA Pte Limited · NSK Asia Pacific Technology Centre (Thailand) Co Limited · NSK –ABC Bearings Pvt Limited · Kunshan NSK Co., Limited · NSK Korea Co. Limited · NSK Corporation, USA · PT. NSK Indonesia · NSK Bearings (Thailand) Co. Limited · NSK Bearings Manufacturing Thailand Co. Limited · NSK Australia Pty Limited · NSK Bearings (Malaysia) Sdn. Bhd. · NSK Vietnam Co, Limited · NSK Europe Limited · NSK Latin America, Inc. · NSK Roadamientos Mexicana, S.A. DE C.V. · NSK(China) Investment Co. Limited · Suzhou NSK Bearings Co Limited · NSK PRECISION AMERICA, INC · Rane NSK Steering Systems Pvt Limited · HEFEI NSK Co. Limited · NSK Chugai Limited · NSK CANADA INC |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 10/- each |
INR 2000.000
Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
INR 10/- each |
INR 2000.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2000.000 |
2000.000 |
2000.000 |
|
(b) Reserves and Surplus |
(32.641) |
(124.552) |
(304.463) |
|
(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) |
1967.359 |
1875.448 |
1695.537 |
|
|
|
|
|
|
(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 |
3.093 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.151 |
0.707 |
0.681 |
|
Total Non-current
Liabilities (3) |
5.244 |
0.707 |
0.681 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
298.105 |
241.233 |
325.998 |
|
(c) Other
current liabilities |
13.723 |
18.744 |
14.421 |
|
(d) Short-term
provisions |
7.373 |
11.071 |
7.029 |
|
Total Current
Liabilities (4) |
319.201 |
271.048 |
347.448 |
|
|
|
|
|
|
TOTAL |
2291.804 |
2147.203 |
2043.666 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
34.348 |
15.244 |
11.460 |
|
(ii)
Intangible Assets |
0.693 |
1.008 |
0.266 |
|
(iii) Tangible assets
capital work-in-progress |
3.263 |
2.278 |
1.769 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
160.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
22.020 |
19.088 |
26.120 |
|
(e) Other
Non-current assets |
41.343 |
65.620 |
3.718 |
|
Total Non-Current
Assets |
261.667 |
103.238 |
43.333 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
501.426 |
387.803 |
492.816 |
|
(c) Trade
receivables |
438.103 |
495.846 |
499.845 |
|
(d) Cash and
bank balances |
999.189 |
1082.059 |
924.253 |
|
(e)
Short-term loans and advances |
67.443 |
51.209 |
59.903 |
|
(f) Other
current assets |
23.976 |
27.048 |
23.516 |
|
Total
Current Assets |
2030.137 |
2043.965 |
2000.333 |
|
|
|
|
|
|
TOTAL |
2291.804 |
2147.203 |
2043.666 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2161.648 |
2495.704 |
2737.705 |
|
|
Other Income |
86.188 |
81.436 |
88.499 |
|
|
TOTAL |
2247.836 |
2577.140 |
2826.204 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
1870.589 |
1966.349 |
2254.162 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(113.623) |
105.013 |
8.434 |
|
|
Employee benefit expense |
176.599 |
173.133 |
157.749 |
|
|
CSR expenditure |
3.192 |
0.656 |
0.000 |
|
|
Other expenses |
160.278 |
169.025 |
189.194 |
|
|
TOTAL |
2097.035 |
2414.176 |
2609.539 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
150.801 |
162.964 |
216.665 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
5.480 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
150.801 |
157.484 |
216.665 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.342 |
3.556 |
3.339 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
146.459 |
153.928 |
213.326 |
|
|
|
|
|
|
|
Less |
TAX |
54.548 |
(25.983) |
46.498 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
91.911 |
179.911 |
166.828 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
3.032 |
0.416 |
2.082 |
|
|
Others |
7.448 |
5.204 |
0.035 |
|
|
TOTAL EARNINGS |
10.480 |
5.620 |
2.117 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1625.491 |
1442.763 |
1657.105 |
|
|
TOTAL IMPORTS |
1625.491 |
1442.763 |
1657.105 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
0.46 |
0.90 |
0.83 |
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 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
136.037 |
202.928 |
311.995 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
17.279 |
91.558 |
195.044 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
73.97 |
72.52 |
66.64 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.93 |
5.03 |
5.48 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
58.17 |
44.78 |
52.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.30 |
0.42 |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
3.94 |
8.79 |
16.06 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.14 |
0.13 |
0.17 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.16 |
0.14 |
0.20 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.02 |
0.01 |
0.01 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
29.74 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.25 |
7.21 |
6.09 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
4.01 |
8.38 |
8.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.67 |
9.59 |
9.84 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
6.36 |
7.54 |
5.76 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) |
4.79 |
6.11 |
4.34 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.86 |
0.87 |
0.83 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
6.36 |
7.54 |
5.76 |
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 |
2000.000 |
2000.000 |
2000.000 |
|
Reserves & Surplus |
(304.463) |
(124.552) |
(32.641) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1695.537 |
1875.448 |
1967.359 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
2737.705 |
2495.704 |
2161.648 |
|
|
|
(8.840) |
(13.385) |
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 |
2737.705 |
2495.704 |
2161.648 |
|
Profit/ (Loss) |
166.828 |
179.911 |
91.911 |
|
|
6.09
% |
7.21
% |
4.25
% |
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 CHARGES: NO
CHARGES EXISTS FOR COMPANY
CORPORATE INFORMATION
NSK India Sales Company Private Limited (“NISCO” or “the Company”) was incorporated on July 24, 2007. The Company is a subsidiary of NSK Limited, Japan and is primarily engaged in the business of trading and marketing bearings and related products under brand name “NSK” in India. NISCO commenced its trading activity in April 2008. The Company also provides related support services.
REVIEW OF BUSINESS OPERATIONS AND FUTURE
PROSPECTS
The Directors wish to present the details of business operations of the year:
a. Sales:
There is a drop in sales about INR Million Rs.343.610 Million, mainly due to the movement of customers to sister concern (NSK Bearings Manufacturing India Private Limited) and Steel & OEM businesses not met the expectations. However able to attain reasonable profits (PAT INR 91.910 Million) during the year.
b. Marketing and Market Environment:
The company plans to focus industrial sector in addition to heavy commercial vehicle market and also target to ensure NSK brand is established for long term player in the Indian Market.
c. Future Prospects including constraints
affecting due to Government Policies:
The Directors do not envisage any constraints in the future market, particularly on the change in existing Government policies including the implementation of Good and Service Tax (GST).
FIXED ASSETS:
Tangible Assets
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
· Leasehold Improvements
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 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 65.22 |
|
UK Pound |
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
IND |
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.