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|
|
MIRA
INFORM REPORT
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Report No. : |
490722 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SOMIC ZF COMPONENTS PRIVATE LIMITED (w.e.f. 18.02.2015) |
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Formerly Known
As : |
SOMIC ZF COMPONENTS LIMITED (w.e.f. 06.08.2012) SONA SOMIC LEMFORDER COMPONENTS LIMITED (w.e.f. 18.03.1999) SONA SOMIC COMPONENTS LIMITED |
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Registered
Office : |
B-59 (LGF), Sarvodaya Enclave, New Delhi – 110017 |
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Tel. No.: |
91-124-4746300 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
20.08.1993 |
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Com. Reg. No.: |
55-054930 |
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Capital Investment
/ Paid-up Capital : |
INR 179.879 Million |
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CIN No.: [Company Identification
No.] |
U74899DL1993PTC054930 |
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IEC No.: |
0595003982 |
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TIN No.: |
06871918282 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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GSTIN : |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AAACS4766Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of ball joints and related parts for four wheelers. (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)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 2800000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1993. Somic Engineering INC,
Japan holds 23.83% in the company, Somic Ishikawa Inc, Japan holds 26.17% in
the company and ZF India Private Limited, India holds 50% in the company. The company is a manufacturer of automobile parts. The subject’s customers include Maruti Suzuki, Honda, Toyota,
Mahindra, Hyundai, Tata, Ford, etc. As per the financial records of 2017, the company has achieved a
significant growth of 13.68% in its revenue as compared to the previous year
and has reported an average net profit margin of 2.57%. The company possesses healthy financial profile marked by sound net
worth base along with acceptable liquidity position. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low
Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High
Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
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Rating |
Long Term Loans = A |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
11.05.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Loans = A1 |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
11.05.2017 |
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 08.02.2018
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.
LOCATIONS
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Registered / Head Office : |
B-59 (LGF), Sarvodaya Enclave, New Delhi – 110017, India |
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Tel. No. : |
91-124-4746300 |
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Mobile No.: |
91-8745001878 (Mr. Verma) |
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Fax No. : |
91-124-4104637 |
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E-Mail : |
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Website : |
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Factory 1 : |
Village Begumpur, Khatola, Post Box No 38, Gurugram – 122001, Haryana,
India |
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Tel. No.: |
91-124-4746300 |
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Fax No. : |
91-124-4104637 |
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Factory 2 : |
No. 35, Thiruvan Karunai Road, Kunnam Village, Sriperumbudur Taluk, Kancheepuram District – 631604, Tamilnadu, India |
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Tel. No.: |
91-44-37173614 |
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Factory 3 : |
Sona Enclave, Village - Begumpur Khatola, Gurugram SZCL – Factory
(GGN), Gurugram – 122001, India |
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Factory 4: |
Also located
at: Rudrapur, Uttarkhand, India. |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Thandassery Hariharan Gopalakrishnan |
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Designation : |
Managing director |
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Address : |
Flat No. 904, Tower No.1, Orchid Petals, Sector – 49, Sohan Raod,
Gurugram – 122002, Haryana, India |
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Date of Birth/Age : |
28.05.1966 |
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Qualification: |
B. Tech |
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Date of Appointment : |
25.04.2012 |
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PAN No.: |
AASPG1477H |
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DIN No.: |
05285668 |
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Other Directorship:
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Name : |
Mr. Jieming Zhu |
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Designation : |
Nominee director |
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Address : |
38 Xiang Hua Oiao Road, Apartment 4-12-01, Shanghai – 200052, China |
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Date of Birth/Age : |
19.06.1961 |
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Qualification: |
Graduate |
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Date of Appointment : |
15.03.2005 |
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DIN No.: |
01059052 |
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Name : |
Mr. Suresh Kizhakke Variam |
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Designation : |
Director |
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Address : |
B Wing Flat No 2103, 10th Floor, Clover
Palisades Off Nibm Road, Kondhwa, Opposite Bizzbay Mall , Pune – 411048,
Maharashtra, India |
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Date of Appointment : |
29.09.2016 |
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DIN No.: |
00550459 |
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Other Directorship:
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Name : |
Mr. Urs Timo Rienhoff |
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Designation : |
Additional Director |
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Address : |
Spinnereiweg 14A, 49082, Osnabrueck, Germany |
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Date of Birth/Age : |
13.06.1970 |
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Date of Appointment : |
25.09.2014 |
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DIN No.: |
06752985 |
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Name : |
Mr. Akihiro Ishikawa |
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Designation : |
Additional Director |
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Address : |
334-2 Sunayama-Cho, Naka-Ku, Hamamatsu-Shi Shizuoka Ken 4308327, Japan |
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Date of Birth/Age : |
26.05.1965 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
25.09.2014 |
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DIN No.: |
06772534 |
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Name : |
Mr. Eiji Honda |
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Designation : |
Director |
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Address : |
73 Onji-Cho, Minami-Ku, Hamamatsu-City,
Shizuoka Pref 4300814, Japan |
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Date of Appointment : |
29.09.2016 |
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DIN No.: |
07596587 |
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KEY EXECUTIVES
|
Name : |
Mr. Praveen Sharma |
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Designation : |
Company Secretary |
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Address : |
20-B/60-B, Tilak Nagar, New Delhi – 110018, India |
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Date of Birth/Age : |
10.09.1972 |
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Date of Appointment : |
30.07.2013 |
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PAN No.: |
ABLPS6278G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
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No. of Shares |
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Somic Engineering Inc. Japan |
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4287215 |
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Somic Ishikawa Inc., japan |
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4706756 |
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ZF India Private Limited, India |
|
8993971 |
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Total |
|
17987942 |
Equity Share Break up (Percentage of Total Equity)
As on 16.08.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
50.00 |
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Promoter – Foreign Companies |
50.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of manufacturing of ball joints and related parts for four wheelers. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 declined by the management |
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Bankers : |
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Auditors : |
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Name : |
S R Batliboi and Company LLP Chartered Accountants |
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Address : |
3rd & 6th Floor Worldmark-1, IGI Airport Hospitality District, Aerocity New Delhi – 110037, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9180N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Fellow Subsidiary
Company : |
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Associates : |
U65993DL2001PTC110205
U74999PN2007FTC130569
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22000000 |
Equity Shares |
INR 10/- each |
INR 220.000 Million |
|
1000000 |
Preference Shares |
INR 100/- each |
INR 100.000 Million |
|
|
Total
|
|
INR 320.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17987942 |
Equity Shares |
INR 10/- each |
INR 179.879 Million |
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|
|
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 |
179.879 |
179.879 |
179.879 |
|
(b) Reserves and Surplus |
802.034 |
706.056 |
639.472 |
|
(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) |
981.913 |
885.935 |
819.351 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
156.188 |
112.643 |
93.882 |
|
(b) Deferred tax liabilities (Net) |
33.644 |
51.618 |
55.714 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
25.487 |
15.338 |
15.204 |
|
Total Non-current
Liabilities (3) |
215.319 |
179.599 |
164.800 |
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
69.237 |
|
(b) Trade
payables |
522.703 |
487.599 |
424.735 |
|
(c) Other
current liabilities |
127.721 |
62.395 |
92.377 |
|
(d) Short-term
provisions |
29.625 |
3.442 |
4.766 |
|
Total Current
Liabilities (4) |
680.049 |
553.436 |
591.115 |
|
|
|
|
|
|
TOTAL |
1877.281 |
1618.970 |
1575.266 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
774.204 |
821.798 |
840.787 |
|
(ii)
Intangible Assets |
1.993 |
6.468 |
15.144 |
|
(iii) Tangible assets
capital work-in-progress |
21.421 |
3.223 |
6.391 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
17.622 |
26.169 |
22.388 |
|
(e) Other
Non-current assets |
0.000 |
1.391 |
2.556 |
|
Total Non-Current
Assets |
815.240 |
859.049 |
887.266 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
169.793 |
188.841 |
195.408 |
|
(c) Trade
receivables |
518.704 |
447.817 |
429.622 |
|
(d) Cash and
bank balances |
113.119 |
64.082 |
19.341 |
|
(e)
Short-term loans and advances |
27.509 |
44.714 |
25.980 |
|
(f) Other
current assets |
232.916 |
14.467 |
17.649 |
|
Total
Current Assets |
1062.041 |
759.921 |
688.000 |
|
|
|
|
|
|
TOTAL |
1877.281 |
1618.970 |
1575.266 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
3676.124 |
3233.671 |
3212.138 |
|
|
Other Income |
27.674 |
9.509 |
24.835 |
|
|
TOTAL |
3703.798 |
3243.180 |
3236.973 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2584.051 |
2270.172 |
2274.986 |
|
|
Purchases of
Stock-in-Trade |
28.495 |
30.085 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
14.751 |
1.669 |
4.992 |
|
|
Employee benefit expense |
416.001 |
365.593 |
346.566 |
|
|
CSR expenditure |
1.487 |
0.801 |
0.000 |
|
|
Other expenses |
417.821 |
368.241 |
367.856 |
|
|
TOTAL |
3462.606 |
3036.561 |
2994.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
241.192 |
206.619 |
242.573 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.862 |
4.144 |
9.394 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
235.330 |
202.475 |
233.179 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
103.808 |
109.827 |
121.657 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
131.522 |
92.648 |
111.522 |
|
|
|
|
|
|
|
Less |
TAX |
37.029 |
26.064 |
40.859 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
94.493 |
66.584 |
70.663 |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
0.000 |
0.000 |
0.000 |
|
|
Share of profit (loss) of
associates |
0.000 |
0.000 |
0.000 |
|
|
Total profit (loss) for
period |
94.493 |
66.584 |
70.663 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
308.323 |
241.739 |
171.076 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
402.816 |
308.323 |
241.739 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2.448 |
1.432 |
0.966 |
|
|
TOTAL EARNINGS |
2.448 |
1.432 |
0.966 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
319.638 |
283.549 |
330.658 |
|
|
Components and spare
parts |
3.371 |
1.195 |
4.245 |
|
|
Capital Goods |
5.635 |
1.099 |
1.778 |
|
|
TOTAL IMPORTS |
328.644 |
285.842 |
336.680 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
5.25 |
3.70 |
3.93 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
69.248 |
29.847 |
53.326 |
|
Net cash flows from (used in) operations |
279.964 |
244.395 |
227.659 |
|
Net cash flows from (used in) operating activities |
254.137 |
215.699 |
194.146 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
51.50 |
50.55 |
48.82 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
7.09 |
7.22 |
7.48 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
73.03 |
77.37 |
68.14 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.42 |
1.09 |
1.24 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.30 |
0.25 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.48 |
0.43 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.23 |
0.16 |
0.26 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.69 |
0.62 |
0.72 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.81 |
0.94 |
1.05 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
41.15 |
49.86 |
25.82 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.57 |
2.06 |
2.20 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
5.03 |
4.11 |
4.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
9.62 |
7.52 |
8.62 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.56 |
1.37 |
1.16 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.31 |
1.03 |
0.83 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.52 |
0.55 |
0.52 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
1.25 |
0.79 |
1.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.56 |
1.37 |
1.16 |
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 |
179.879 |
179.879 |
179.879 |
|
Reserves & Surplus |
639.472 |
706.056 |
802.034 |
|
Net
worth |
819.351 |
885.935 |
981.913 |
|
|
|
|
|
|
Long Term borrowings |
93.882 |
112.643 |
156.188 |
|
Short Term borrowings |
69.237 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
53.326 |
29.847 |
69.248 |
|
Total
borrowings |
216.445 |
142.490 |
225.436 |
|
Debt/Equity
ratio |
0.264 |
0.161 |
0.230 |
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 |
3212.138 |
3233.671 |
3676.124 |
|
|
0.000 |
0.670 |
13.683 |
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 |
3212.138 |
3233.671 |
3676.124 |
|
Profit/ (Loss) |
70.663 |
66.584 |
94.493 |
|
|
2.20
% |
2.06
% |
2.57
% |
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subject (formerly known as Somic ZF Components Limited) {the "Company"} is a private limited Company and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of manufacturing of ball joints and related parts for four wheelers. The manufacturing plants of the Company are located at Begumpur Khatola, Gurgaon in the state of Haryana, Sriperumbudur in the state of Tamil Nadu and at Rudrapur in the state of Uttarkhand, India.
PERFORMANCE REPORT
(2016-2017)
The Company has registered sales of INR 3676.120 million during the financial year ended 31st March, 2017 as against the sales of INR 3233.670 million during the previous financial year thus registering a growth of around 13%. The Profit after tax is INR 94.490 against profit of INR 66.580 million in the previous financial year.
The Chennai plant sales growth is around 22%, as there are many new product launches during the year and it is also expected to have sales growth for coming years. The Gurgaon plant is having sale growth of around 7% largely due to increased sales to MSIL. The company is hopeful that the present trend of sales growth will continue during next years also.
The Company has done substantial improvement in Inventories levels and it has reduced further by around 10% during the year. In addition to this, better management of funds helps to avoid the dependency on short term working capital requirement from Banks.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from banks |
156.188 |
112.643 |
|
(The above loan (INR138495200) carry interest rate of (6 month Libor + 1.70%).(INR86940000) carry interest rate of (6 month JBA Japanese Yen Libor + .50) as per the loan agreement) |
|
|
|
Total |
156.188 |
112.643 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C04190377 |
10102054 |
KOTAK MAHINDRA BANK LIMITED |
14/05/2008 |
07/09/2012 |
31/03/2014 |
80000000.0 |
15-16, UGF, AMBADEEP BUILDING14, K. G. MARGNEW DELHIDL110001IN |
|
2 |
B91027961 |
80000721 |
STATE BANK OF HYDERABAD |
10/02/2004 |
08/05/2012 |
13/11/2013 |
87500000.0 |
NARSINGHPUR BRANCHCARRIER AIRCON COMPLEX, KHEDKI DAULAGURGAONHR122002IN |
|
3 |
B76874486 |
10076347 |
STATE BANK OF HYDERABAD |
15/10/2007 |
08/05/2012 |
01/06/2013 |
40000000.0 |
NARSINGHPUR BRANCHCARRIER AIRCON COMPLEX, KHEDKI DAULAGURGAONHR122002IN |
|
4 |
B73456964 |
10101514 |
KOTAK MAHINDRA BANK LIMITED |
14/05/2008 |
07/05/2012 |
22/04/2013 |
110000000.0 |
15-16, UGF, AMBADEEP BUILDING14, K G MARGNEW DELHIDL110001IN |
|
5 |
B38779658 |
10000207 |
STATE BANK OF HYDERABAD |
23/02/2006 |
05/07/2008 |
03/05/2012 |
5800000.0 |
NARSINGHPUR BRANCH,CARRIER AIRCON COMPLEX,GURGAONHR122002IN |
|
6 |
B38781852 |
10029909 |
STATE BANK OF HYDERABAD |
20/10/2006 |
05/07/2008 |
03/05/2012 |
75000000.0 |
NARSINGHPUR BRANCH,CARRIER AIRCON COMPLEX,GURGAONHR122002IN |
|
7 |
B10504231 |
10114430 |
TATA CAPITAL LIMITED |
10/06/2008 |
- |
26/03/2011 |
187500000.0 |
ONE FORBESDR V B GANDHI MARG,FORTMUMBAIMH400001IN |
|
8 |
A95107074 |
80041560 |
General Manager |
20/03/1998 |
- |
21/09/2010 |
67680000.0 |
District Industries CentreGurgaonHR122001IN |
|
9 |
A46493359 |
80047763 |
STANDARD CHARTERED BANK |
26/03/2004 |
14/09/2005 |
22/09/2008 |
15000000.0 |
SANSAD MARGNEW DELHIDL110001IN |
|
10 |
Y10135978 |
90055883 |
THE ICICI BANK LIMITED |
22/12/1999 |
- |
03/06/2005 |
50000000.0 |
ICICI BANK TOWER NBCC PLACEBHISHMA PITAMAH MARG PRAGATI VIHARNEW DELHIDL110003IN |
FIXED ASSETS
- Land
- Buildings
- Office building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 64.13 |
|
|
1 |
INR 89.49 |
|
Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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.