MIRA INFORM REPORT

 

 

Report No. :

493667

Report Date :

22.02.2018

 

 

IDENTIFICATION DETAILS

 

Name :

MARUTI SUZUKI INDIA LIMITED (w.e.f. 17.09.2007)

 

 

Formerly Known As :

MARUTI UDYOG LIMITED

 

 

Registered Office :

Plot No. 1, Nelson Mandela Road, Vasant Kunj, New Delhi - 110070

Tel. No.:

91-11-46781000 / 46150275

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

24.02.1981

 

 

Com. Reg. No.:

55-011375

 

 

Capital Investment / Paid-up Capital :

INR 1510.000 Million

 

 

CIN No.:

[Company Identification No.]

L34103DL1981PLC011375

 

 

IEC No.:

[Import-Export Code No.]

0588000591

 

 

GSTN :

[Goods & Service Tax Registration No.]

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACM0829Q

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The business of manufacturing, purchase and sale of motor vehicles, components and spare parts (“automobiles”). (Registered Activity)

 

 

No. of Employees :

11000 (Approximately)

 

 

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++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Maruti Suzuki India Limited (MSIL) is a subsidiary of Suzuki Motor Corporation. The company was incorporated in the year 1981 and is based in New Delhi, India. It is an established company having an excellent track record.


The rating takes into consideration company’s established brand image and dominant position in the domestic passenger car segment. As of January 2017, it had a market share of 51% of the Indian passenger car market.


Maruti Suzuki manufactures and sells popular cars such as the Ciaz, Ertiga,  Wagon R, Alto, Swift, Celerio, Swift Dzire, Omni, Baleno and Baleno RS, Ignis.


Available financial indicates robust financial profile marked by healthy net worth base along with low debt level and decent profit margin of the company.


Directors are reported to be well experienced, knowledgeable and resourceful businessman.

Share price are quoted high on stock exchange (Share Price INR 8779 with Face Value INR 5).


Trade relations are reported as trustworthy. Business is active. Payments are reported as regular and as per commitment.


In view of the aforesaid, the company can be considered good for normal business dealings at usual trade terms and condition.


It can be regarded as a promising business partner in medium to long run.

 

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

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

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 22.02.2018

 

 

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.

 

INFORMATION DENIED BY

 

Management Non-Cooperative (91-11-46781000/46150275)

 

Not Exist - (91-11-23316831)

 

Continuously ringing: 91-124-4884000

 

LOCATIONS

 

Registered Office :

Plot No. 1, Nelson Mandela Road, Vasant Kunj, New Delhi - 110070, India

Tel. No.:

91-11-46781000

Fax No.:

91-11-46150275/ 46150276

Email:

sanjeev.grover@maruti.co.in

invester@maruti.co.in

contact@murali.co.in 

Website :

www.marutisuzuki.com

 

 

Factory 1 :

Gurgaon Plant

Old Palam Gurugram Road, Gurugram – 122015, Haryana, India

Tel No.:

91-124-2346721-30

Fax No.:

91-124-2341404

 

 

Factory 2:

Manesar Plant
Manesar Plant, Plot No.1, Phase 3A, IMT Manesar, Haryana, India

Tel No.:

91-124-4884000

Fax No.:

91-124-4884199

 

 

Regional Offices :

Located at:

 

·         Kolkata

·         Guwahati

·         New Delhi  

·         Lucknow  

·         Chennai  

·         Cochin

·         Mumbai

·         Ahmedabad

·         Ranchi

·         Indore

·         Chandigarh

·         Jaipur

·         Bangalore

·         Hyderabad

·         Pune

 

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Ravindra Chandra Bhargava

Designation :

Director

Address :

220, Sector - 15A, Noida, Ghaziabad-201301, Uttar Pradesh, India

Date of Appointment :

09.09.2005

DIN No.:

00007620

 

 

Name :

Ms. Renu Sud Karnad

Designation :

Director

Address :

Bb-14, Greater Kailash, Enclave-Ii, New Delhi – 110048, India

Date of Appointment :

27/07/2017

DIN No.:

00008064

 

 

Name :

Kinji Saito

Designation :

Director

Address :

3-1900, Koike-Chou, Higashi-Ku Hamamatsu-Shi, Shizuoka-Ken Hamamatsu -4350056, Japan

Date of Appointment :

28.04.2012

DIN No.:

00049067

 

 

Name :

Mr. Davinder Singh Brar

Designation :

Director

Address :

Greenfields Farm, Gadaipur-Jaunapur Road Village-Gadaipur, Tehsil Mehrauli New Delhi-110030 Dl In

Date of Birth/Age :

61 Years

Date of Appointment :

05/09/2006

DIN No.:

00068502

 

 

Name :

Mr. Osamu Suzuki

Designation :

Nominee Director

Address :

3-19-18, Shizimizuka Hamamatsu City 4328018, Japan

Date of Appointment :

20.09.2002

DIN No.:

00680073

 

 

Name :

Mr. Toshiaki Hasuike

Designation :

Director

Address :

Room No. 512, Hotel Dia Park Premier 353-357, Sector-29, City Centre, Gurgaon-122001, Haryana, India

Date of Appointment :

27.04.2013

DIN No.:

01948291

 

 

Name :

Mr. Kenichi Ayukawa

Designation :

Managing Director

Address :

F-071, Park Place Dlf City, Phase V, Gurgaon-122002, Haryana, India

Date of Birth/Age :

58 Years

Date of Appointment :

21.07.2008

DIN No.:

02262755

 

 

Name :

Kazuhiko Ayabe

Designation :

Director

Address :

Room No.610, Hotel Dia Park Premier, 353-357, Sector-29, Gurugram -122001, Haryana, India

Date of Appointment :

28.04.2012

DIN No.:

02917011

 

 

Name :

Mr. Rajinder Pal Singh

Designation :

Director

Address :

3 B Hudco Place, New Delhi-110049, India

Date of Birth/Age :

62 Years

Date of Appointment :

25.01.2013

DIN No.:

02943155

 

 

Name :

Mr. Toshihiro Suzuki

Designation :

Director

Address :

2-14-26, Shizimizula Naka-Ku Hamamatsu 4328018, Japan

Date of Appointment :

28.10.2013

DIN No.:

06709846

 

 

Name :

Kazunari Yamaguchi

Designation :

Casual Vacancy Director

Address :

Apartment No. 17-H, North, The Room Central Park-2 Sector-48, Sohna Road, Gurugram – 122001, Haryana, India

Date of Appointment :

26.01.2018

DIN No.:

07961388

 

 

KEY EXECUTIVES

 

Name :

Mr. Ravi Sangam Aiyar

Designation :

Company Secretary

Address :

Espace- 130, Nirvana Country South City- 2, Sector-50, Gurgaon-122002, Haryana, India

Date of Appointment :

08.04.2009

PAN No.:

AADPA8913H

 

 

Name :

Mr. Ajay Seth

Designation :

Chief Financial Officer

Address :

C - 445, Sarita Vihar, New Delhi-110044, India

Date of Appointment :

21.05.2014

PAN No.:

AMOPS2896L

 

 

Name :

Mr. T. Hasuike

Designation :

JMD

 

 

Name :

Mr. S. Torii

Designation :

Director (Production)

 

 

Name :

Mr. A. K. Tomer

Designation :

Executive Officer

 

 

Name :

Mr. S. Y. Siddiqui

Designation :

Chief Mentor

 

 

Name :

Mr. R. Gandhi

Designation :

Executive Officer (Production)

 

 

Name :

Mr. A. Seth

Designation :

Executive Officer (Finance)

 

 

Name :

Mr. M. Nishio

Designation :

Executive Officer (Finance)

 

 

Name :

Mr. M. Suzuki

Designation :

Executive Officer (Engineering)

 

 

Name :

Mr. Y. Suzuki

Designation :

Executive Officer

 

 

Name :

Mr. C. V. Raman

Designation :

Executive Officer (Engineering)

 

 

Name :

Mr. T. Hashimoto

Designation :

Executive Officer (Marketing and Sales)

 

 

Name :

Mr. R. S. Kalsi

Designation :

Executive Officer (Marketing and Sales)

 

 

Name :

Mr. S. Ravi Aiyar

Designation :

Executive Officer (Legal)

 

 

Name :

Mr. C. S. Raju

Designation :

Executive Officer (HR)

 

 

Name :

Mr. P. Narula

Designation :

Executive Officer (Service)

 

 

Name :

Mr. S. Srivastava

Designation :

Executive Officer (International Marketing)

 

 

Name :

Mr. Y. Ozawa

Designation :

Executive Officer (HR)

 

 

Name :

Mr. Y. Kojima

Designation :

Executive Officer (Gujarat Project)

 

 

Name :

Mr. D. K. Sethi

Designation :

Executive Officer (Supply Chain)

 

 

Name :

Mr. R. Uppal

Designation :

Executive Officer (IT)

 

 

Name :

Mr. K. Suzuki

Designation :

Executive Officer (International Marketing)

 

 

MAJOR SHAREHOLDERS

 

AS ON DECEMBER 2017

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares

(A) Promoter & Promoter Group

169788440

56.21

(B) Public

132291620

43.79

Grand Total

302080060

100.00

 

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER GROUP

 

Category of shareholder

No. of fully paid up equity shares held

Shareholding as a % of total no. of shares

A1) Indian

0.00

A2) Foreign

0.00

Any Other (specify)

169788440

56.21

Suzuki Motor Corporation

169788440

56.21

Sub Total A2

169788440

56.21

A=A1+A2

169788440

56.21

 

 

STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER

 

Category & Name of the Shareholders

No. of fully paid up equity shares held

Shareholding % calculated as per SCRR,

B1) Institutions

0

1,67,20,423

Mutual Funds/

35

1,12,057

Alternate Investment Funds

5

7,79,67,816

Foreign Portfolio Investors

1167

1,63,82,855

Financial Institutions/ Banks

23

1,50,29,527

Life Insurance Corporation of India

1

11,11,83,151

Sub Total B1

1230

B2) Central Government/ State Government(s)/ President of India

0

B3) Non-Institutions

0

93,12,056

Individual share capital upto INR 0.200 Million

216976

3,53,800

Individual share capital in excess of INR 0.200 Million

6

14,768

NBFCs registered with RBI

29

1,14,27,845

Any Other (specify)

8750

14,09,493

Trusts

39

251

FOREIGN NATIONALS

3

3,57,044

NRI

4291

3,01,746

Clearing Members

238

1,70,748

NRI – Non- Repat

1895

91,88,563

Bodies Corporate

2284

2,11,08,469

Sub Total B3

225761

13,22,91,620

B=B1+B2+B3

226991

1,67,20,423

 

 

BUSINESS DETAILS

 

Line of Business :

The business of manufacturing, purchase and sale of motor vehicles, components and spare parts (“automobiles”). (Registered Activity)

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Manufacturer of passenger car

29101

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

11000 (Approximately)

 

 

Bankers :

Banker Name :

HDFC Bank

Branch :

--

Person Name (With Designation) :

--

Contact Number :

--

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

 

Auditors :

 

Name :

Deloitte Haskins and Sells LLP

Chartered Accountants

Address :

7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF Cyber Phase – II, Gurugram – 122002, Haryana, India

Tel. No.:

91-124-6792000

Fax No.:

91-124-6792012

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:

Suzuki Motor Corporation

 

 

Subsidiaries:

·         Maruti Insurance Agency Services Limited

·         Maruti Insurance Agency Logistics Limited

·         Maruti Insurance Distribution Services Limited

·         Maruti Insurance Agency Network Limited

·         Maruti Insurance Agency Solutions Limited

·         True Value Solutions Limited

·         Maruti Insurance Business Agency India Limited

·         Maruti Insurance Broker Limited

·         J.J. Impex (Delhi) Private Limited

 

 

Joint Ventures:

·         Magneti Marelli Powertrain India Private Limited

·         Plastic Omnium Auto Inergy Manufacturing India Private Limited (Formerly known as Inergy Automotive Systems Manufacturing

India Private Limited)

 

 

Associates:

·         Bharat Seats Limited

·         Caparo Maruti Limited

·         Jay Bharat Maruti Limited

·         Krishna Maruti Limited

·         Machino Plastics Limited

·         SKH Metals Limited

·         Bellsonica Auto Component India Private Limited

·         FMI Automotive Components Private Limited

·         Krishna Ishizaki Auto Limited

·         Maruti Insurance Broking Private Limited

·         Manesar Steel Processing India Private Limited

·         Hanon Climate Systems India Private Limited

(Former Halla Visteon Climate Systems India Private Limited)

 

 

Fellow Subsidiaries (only with whom the Company had

transactions during the current year):

·         Cambodia Suzuki Motor Co. Limited

·         Magyar Suzuki Corporation Limited

·         Pak Suzuki Motor Co., Limited

·         Pt Suzuki Indomobil Motor (Former Pt Indomobil Suzuki International)

·         Suzuki (Myanmar) Motor Co., Limited

·         Suzuki Australia Pty. Limited

·         Suzuki Austria Automobile Handels G.M.B.H.

·         Suzuki Auto South Africa (Pty) Limited

·         Suzuki Cars (Ireland) Limited

·         Suzuki France S.A.S.

·         Suzuki Gb Plc

·         Suzuki International Europe G.M.B.H.

·         Suzuki Italia S.P.A.

·         Suzuki Malaysia Automobile Sdn. Bhd.

·         Suzuki Motor (Thailand) Co. Limited

·         Suzuki Motor De Mexico, S.A. De C.V.

·         Suzuki Motor Gujarat Private Limited

·         Suzuki Motor Iberica, S.A.U.

·         Suzuki Motor Poland Sp. Z.O.O. (Former Suzuki Motor Poland Limited)

·         Suzuki Motorcycle India Limited

·         Suzuki New Zealand Limited

·         Suzuki Philippines Inc.

·         Taiwan Suzuki Automobile Corporation

·         Thai Suzuki Motor Co. Limited

·         Vietnam Suzuki Corporation

 

 

CAPITAL STRUCTURE

 

AS ON 05.09.2017

 

Authorised Capital : INR 18755.000 Million

 

Issued, Subscribed & Paid-up Capital : INR 1510.000 Million

 

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3744000000

Equity Shares

INR 5/- each

INR 18720.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

302080060

Equity Shares

INR 5/- each

INR 1510.000 Million

 

 

 

 

 

Rights, preference and restriction attached to shares

 

The Company has one class of equity shares having a par value of INR 5 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

 

Reconciliation of number of shares

Particular

Aa at 31.03.2017

 

Number of shares

INR In Million

Balance as at the beginning of the year

302080060

1510.000

Balance as at the end of the year

302080060

1510.000

 

 

Details of shares held by the holding company

 

Particular

Aa at 31.03.2017

 

Number of shares

INR In Million

Suzuki Motor Corporation, Japan

169788440

849.00

 

169788440

849.00

 

 

Details of shares held by each shareholder holding more than 5% shares

 

Particular

Aa at 31.03.2017

 

%

Number of Shares

Suzuki Motor Corporation (the holding company)

56.21

169788440

Life Insurance Corporation of India

5.05

15242658

 

 

Shares allotted as fully paid up pursuant to contract(s) without payment being received in cash (during 5 years  immediately preceding 31st March 2017)

 

13170000 Equity Shares of INR 5 each have been allotted as fully paid up during Financial Year 2012-13 to Suzuki Motor Corporation pursuant to the Company’s scheme of amalgamation with erstwhile Suzuki Powertrain India Limited.

 

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

1510.000

1510.000

1510.000

(b) Reserves & Surplus

360201.000

297332.000

235532.000

(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)

361711.000

298842.000

237042.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

1448.000

(b) Deferred tax liabilities (Net)

4640.000

1943.000

4810.000

(c) Other long term liabilities

11050.000

8075.000

1054.000

(d) long-term provisions

219.000

148.000

2926.000

Total Non-current Liabilities (3)

15909.000

10166.000

10238.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4836.000

774.000

354.000

(b) Trade payables

83673.000

74073.000

54181.000

(c) Other current liabilities

39314.000

31556.000

20074.000

(d) Short-term provisions

4490.000

3989.000

13604.000

Total Current Liabilities (4)

132313.000

110392.000

88213.000

 

 

 

 

TOTAL

509933.000

419400.000

335493.000

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

129162.000

121631.000

119670.000

(ii) Intangible Assets

3730.000

3469.000

2923.000

(iii) Capital work-in-progress

12523.000

10069.000

18828.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

262147.000

188754.000

98176.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

3.000

4.000

13493.000

(e) Other Non-current assets

16269.000

17013.000

441.000

Total Non-Current Assets

423834.000

340940.000

253531.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

20137.000

10568.000

29964.000

(b) Inventories

32622.000

31321.000

26859.000

(c) Trade receivables

11992.000

13222.000

10698.000

(d) Cash and cash equivalents

131.000

391.000

183.000

(e) Short-term loans and advances

25.000

31.000

11728.000

(f) Other current assets

21192.000

22927.000

2530.000

Total Current Assets

86099.000

78460.000

81962.000

 

 

 

 

TOTAL

509933.000

419400.000

335493.000

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

772662.000

650546.000

499706.000

 

Other Income

22798.000

14610.000

8316.000

 

TOTAL

795460.000

665156.000

508022.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

426296.000

354839.000

328678.000

 

Purchases of Stock-in-Trade

44821.000

32066.000

26652.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

-3801.000

69.000

(4559.000)

 

Excise duty

92314.000

75165.000

0.000

 

Employees benefits expense

23310.000

19788.000

16066.000

 

vehicle

(1036.000)

(602.000)

(691.000)

 

Other expenses

87228.000

80377.000

66431.000

 

TOTAL

669132.000

561702.000

432577.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

126328.000

103454.000

75445.000

 

 

 

 

 

Less

FINANCIAL EXPENSES

894.000

815.000

2060.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

125434.000

102639.000

73385.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

26021.000

28202.000

24703.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

99413.000

74437.000

48682.000

 

 

 

 

 

Less

TAX

26036.000

20794.000

11570.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

73377.000

53643.000

37112.000

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

55645.000

47353.000

45857.000

 

Freight

646.000

570.000

472.000

 

TOTAL EARNINGS

56291.000

47923.000

46329.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw materials and components

37254.000

33632.000

31818.000

 

Capital goods

14818.000

7383.000

10112.000

 

Stores and spares

1155.000

1.000

758.000

 

Dies and moulds

85.000

168.000

100.000

 

Other items

116.000

461.000

131.000

 

TOTAL IMPORTS

53428.000

41645.000

42919.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

242.91

177.58

122.85

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

0.000

1,535.000

3,354.000

Cash generated from operations

126020.000

103944.000

73614.000

Net cash flows from (used in) operations

102847.000

84845.000

73614.000

 

 

QUARTERLY RESULTS

 

Particulars

30.06.2017

30.09.2017

Audited / Unaudited

Unaudited

Unaudited

 

1ST Quarter

2nd Quarter

Net Sales

217682.000

197774.000

Total Expenditure

180907.000

174462.000

PBIDT (Excl OI)

36775.000

23312.000

Other Income

5229.000

6827.000

Operating Profit

42004.000

30139.000

Interest

150.000

313.000

Exceptional Items

NA

NA

PBDT

41854.000

29826.000

Depreciation

6825.000

6839.000

Profit Before Tax

35029.000

22987.000

Tax

10186.000

7423.000

Provisions and contingencies

NA

NA

Profit After Tax

24843.000

15564.000

Extraordinary Items

NA

NA

Prior Period Expenses

NA

NA

Other Adjustments

NA

NA

Net Profit

24843.000

15564.000

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

5.66

7.42

7.81

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

64.43

49.20

46.71

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

64.83

69.88

55.66

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

3.87

3.30

2.81

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.87

0.77

0.53

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.26

0.27

0.28

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.01

0.01

0.02

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.37

0.37

0.37

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.40

0.45

0.60

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

141.31

126.94

36.62

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

9.50

8.25

7.43

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

14.39

12.79

11.06

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

20.29

17.95

15.66

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

0.65

0.71

0.93

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

0.40

0.43

0.62

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.71

0.71

0.71

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

3.20

1.53

3.41

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

0.65

0.71

0.93

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

1510.000

1510.000

1510.000

Reserves & Surplus

235532.000

297332.000

360201.000

Net worth

237042.000

298842.000

361711.000

 

 

 

 

long-term borrowings

1448.000

0.000

0.000

Short term borrowings

354.000

774.000

4836.000

Total borrowings

5156.000

2309.000

4836.000

Debt/Equity ratio

0.022

0.008

0.013

 

 

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

499706.000

650546.000

772662.000

 

 

30.186

18.771

 

 

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

499706.000

650546.000

772662.000

Profit

37112.000

53643.000

73377.000

 

7.43%

8.25%

9.50%

 

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

 

 

 

I.              EQUITY AND LIABILITIES

 

 

(1)Shareholders' Funds

 

 

(a) Share Capital

1510.000

1510.000

(b) Reserves & Surplus

369241.000

304650.000

(c) Money received against share warrants

0.000

0.000

 

 

 

Non controlling interest

154.000

144.000

(2) Share Application money pending allotment

0.000

0.000

Total Shareholders’ Funds (1) + (2)

370905.000

306304.000

 

 

 

(3) Non-Current Liabilities

 

 

(a) long-term borrowings

0.000

0.000

(b) Deferred tax liabilities (Net)

5058.000

2287.000

(c) Other long term liabilities

11055.000

8075.000

(d) long-term provisions

219.000

148.000

Total Non-current Liabilities (3)

16332.000

10510.000

 

 

 

(4) Current Liabilities

 

 

(a) Short term borrowings

4836.000

774.000

(b) Trade payables

83692.000

74089.000

(c) Other current liabilities

39342.000

31584.000

(d) Short-term provisions

4498.000

3994.000

Total Current Liabilities (4)

132368.000

110441.000

 

 

 

TOTAL

519605.000

427255.000

 

 

 

II.          ASSETS

 

 

(1) Non-current assets

 

 

(a) Fixed Assets

 

 

(i) Tangible assets

129377.000

121827.000

(ii) Intangible Assets

3730.000

3469.000

(iii) Capital work-in-progress

12523.000

10069.000

(iv) Intangible assets under development

0.000

0.000

(b) Non-current Investments

269718.000

195345.000

(c) Deferred tax assets (net)

0.000

0.000

(d)  Long-term Loan and Advances

3.000

4.000

(e) Other Non-current assets

16274.000

17030.000

Total Non-Current Assets

431625.000

347744.000

 

 

 

(2) Current assets

 

 

(a) Current investments

21788.000

11413.000

(b) Inventories

32637.000

31326.000

(c) Trade receivables

12026.000

13234.000

(d) Cash and cash equivalents

235.000

507.000

(e) Short-term loans and advances

25.000

31.000

(f) Other current assets

21269.000

23000.000

Total Current Assets

87980.000

79511.000

 

 

 

TOTAL

519605.000

427255.000

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

31.03.2017

31.03.2016

 

SALES

 

 

 

Income

773164.000

651055.000

 

Other Income

22896.000

14806.000

 

TOTAL

796060.000

665861.000

 

 

 

 

Less

EXPENSES

 

 

 

Cost of Materials Consumed

426279.000

354833.000

 

Purchases of Stock-in-Trade

44936.000

32179.000

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(3793.000)

48.000

 

excise duty

92314.000

75165.000

 

Employees benefits expense

23603.000

20003.000

 

share profit associates

(1728.000)

(1189.000)

 

vehicle

(1036.000)

(602.000)

 

Other expenses

87280.000

80542.000

 

TOTAL

667855.000

560979.000

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

128205.000

104882.000

 

 

 

 

Less

FINANCIAL EXPENSES

894.000

817.000

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

127311.000

104065.000

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

26039.000

28218.000

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

101272.000

75847.000

 

 

 

 

Less

TAX

26162.000

20875.000

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

75110.000

54972.000

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

248.64

181.98

 

 

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

No

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

Yes

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

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

 

 

GENERAL INFORMATION

The Company is primarily in the business of manufacturing, purchase and sale of motor vehicles, components and spare parts (“automobiles”). The other activities of the Company comprise facilitation of Pre-Owned Car sales, Fleet Management and Car Financing. The Company is a public company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

 

FINANCIAL HIGHLIGHTS

 

The total revenue (net of excise) was INR 703146.000 million as against INR 589991.000 million in the previous year showing an increase of 19 per cent. Sale of vehicles in the domestic market was 1444541 units as compared to 1305351 units in the previous year showing an increase of 11 per cent. Total number of vehicles exported was 124062 units as compared to 123897 units in the previous year showing an increase of 0.1 per cent.

 

Profit before tax (PBT) was INR 99413.000 million against INR 74437.000 million showing an increase of 34 per cent and profit after tax (PAT) stood at INR 73377.000 million against INR 53643.000 million in the previous year showing an increase of 37 per cent

 

OUTLOOK

 

With increased political stability, government focus on manufacturing and infrastructure development, lower interest rates, lower fuel prices, increasing consumption and reforms like GST, there are is optimal with regard to economic growth.

 

The Company has consistently grown faster than industry in the context of an overall market slowdown. New products, design and technologies that meet the needs of the evolving Indian customer will continue to have an important role in the future. The Company will build further on its network strength to get closer to customers in urban areas as well as in small towns.

 

 

MARUTI SUZUKI CROSSES INR 9000-MARK FOR FIRST TIME, SURGES 71% IN 2017

 

The share price has crossed the milestone of INR 9,000 for the first time on Friday, hitting a record high of INR 9,119.95. It was also partly boosted by positive sentiment in equity markets.

 

It has been a great year, so far, for Maruti Suzuki India as value buying due to better monthly sales growth and corporate earnings despite demonetisation & GST effects helped the stock register 71 percent growth in 2017.

The share price has crossed the milestone of INR 9,000 for the first time on Friday, hitting a record high of INR 9,119.95. It was also partly boosted by positive sentiment in equity markets.

 

The stock today gained 2.7 percent intraday, in addition to 3.3 percent rally in previous session.

The recent monthly sales numbers were in line with analyst expectations. The country's largest car maker sold 1.54 lakh units during the month, higher by 14.1 percent over 1.35 lakh units sold in November 2016. The growth was largely driven by domestic sales that grew by 15 percent year-on-year.

 

Maruti continued to get good response for its Vitara Brezza, Ignis, Baleno, Ertiga etc.

 

Last week, global brokerage house CLSA hiked its target price for the stock to INR 10,000 per share while maintaining a buy call.

 

"Valuations seem rich, but justified given high earnings visibility and improving outlook," the research house said, adding India passenger vehicle industry is showing signs of easing competitive intensity.

Easing competitive intensity, in small cars and entry sedans, is positive for Maruti, CLSA feels. According to the research house, Maruti is likely to broaden its sports utility vehicle portfolio in coming years, though competition is high.

 

The announcement of tie-up for electric vehicles last month also boosted sentiment. Toyota Motor and Suzuki Motor agreed to cooperate in selling electric vehicles in India from around 2020, they had said November 19, aiming to give each other a leg up in emerging markets and low-emission technology.

 

While having a buy rating with a target price of INR 9,843 per share, the brokerage on November 19 said that Maruti-Toyota MoU for electric vehicles is a positive for original equiopment manufacturers (OEMs) as they would have a head-start over other OEMs in India.

 

At 11:02 hours IST, the stock price was quoting at INR 9,085.45, up INR 204.35, or 2.30 percent on the BSE.

 

 

UNSECURED LOANS:

 

Particulars

31.03.2017

INR In Million

31.03.2016

INR In Million

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from banks- cash credit and overdraft

4836.000

774.000

Total

4836.000

774.000

 

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

DATE OF SATISFACTION

AMOUNT

ADDRESS

1

Z00372707

80045189

STATE BANK OF TRAVANCORE

10/03/2000

22/09/2003

-

200000000.0

KAROL BAGHNEW DELHIDL110005IN

2

C46023388

80043903

STATE BANK OF INDIA

06/07/1998

08/01/2015

-

250000000.0

11TH & 12TH FLOOR, JAWAHAR VYAPAR BHAWAN1, TOLSTOY MARGNEW DELHIDL110001IN

3

C47549290

80042726

CORPORATION BANK

02/02/2000

-

27/02/2015

1000000000.0

I.F. B.K.G. MARGNEW DELHIDL110001IN

4

C37622487

80042727

HDFC BANK LIMITED

22/08/2000

-

10/12/2014

500000000.0

HINDUSTAN TIMES HOUSE5 TH FLOOR, 18-20 K.G. MARGNEW DELHIDL110001IN

5

B14300925

80042725

BNP PARIBAS

06/10/2001

-

20/05/2011

200000000.0

15 , BARAKHAMBA ROADNEW DELHIDL110001IN

6

A29254000

80039166

U T I BANK LTD

05/02/2001

-

04/12/2007

1000000000.0

SAKER-1, GROUND FLOOROPP ASHRAM ROADAHMEDABADGJ380009IN

7

Y10113212

90033117

THE SANWA BANK LIMITED

04/01/1994

01/11/1994

13/05/2000

300000000.0

15KASTURBA GANDHI MARGNEW DELHIDL110001IN

8

Y10113343

90033248

PUNJAB NATIONAL BANK

08/08/1994

-

14/12/1998

100000000.0

E.C.E. HOUSENEW DELHIDL110001IN

 

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS

FOR THE QUARTER ENDED 30TH SEP 2017

(INR in millions)

Sr.

No.

 

 

Particulars

Quarter Ended

Half year ended

30.09.2017

30.09.2017

Unaudited

Unaudited

Part I

 

 

 

1.

Income from Operations

 

 

 

a) Net Sales / Income from Operations

214381.000

408022.000

 

b) Other Operating Income

3301.000

7434.000

 

Total Income from Operations (net)

217682.000

415456.0000

2.

Expenditure

 

 

 

Cost of materials consumed

118638.000

223621.000

 

Purchase of stock-in-trade

23271.000

44736.000

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

7871.000

4307.000

 

Excise duty

0.000

22317.000

 

Finance Costs

6666.0000

13187.000

 

Employee benefits expense

150.000

463.000

 

Depreciation and amortisation expense

6825.000

13664.000

 

Other expenses

24895.000

47853.000

 

Vehicles

(434.000)

-652.000

 

Total Expenses

187882.000

369496.000

 

Profit Before Tax

35029.000

58016.000

 

Tax Expenses

 

 

 

Current Tax

9704.000

15282.000

 

Deferred Tax

482.000

2327.000

 

Total Tax Expenses

10186.000

17609.000

 

Profit / (Loss) for the period

24843.000

40407.000

 

 

 

 

 

Other Compressive Income

 

 

 

items not be reclassified

 

 

 

Gain defind benefit obligation

36.000

-277.000

 

Gain on fair value

3828.000

4750.000

 

 

3864.000

4473.000

 

Income tax relating items not be reclassified

(12.000)

96.000

 

Effective portion of gain and loss

(11.000)

-11.000

 

 

 

 

 

Income tax relating items not be reclassified

4.000

4.000

 

Total Other Compressive Income

3845.000

4562.000

 

 

 

 

 

Total Compressive Income

26688.000

44969.000

 

 

 

 

 

Paid-up equity share capital (Face Value of INR. 5/- per share)

1510.000

1510.000

 

Reserve excluding Revaluation reserve

5.00

5.00

 

Earnings Per Share (EPS) before and after extraordinary items (of INR. 5/- each)

a) Basic

b) Diluted

 

 

82.24

82.24

 

 

133.76

133.76

 

 

 

 

 

 

The above results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 27th October, 2017. The limited review as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been completed by the Statutory Auditors.



2. These results have been prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies to the extent applicable.



3. The Company is primarily in the business of manufacturing purchase and sale of Motor Vehicles Components and Spare Parts ("Automobiles"). The other activities of the Company comprise facilitation of Pre-Owned Car Sales. Fleet Management and Car Financing. The income from these activities is not materials in financial terms but such activities contribute significantly in generating demand for the products of the Company. Accordingly there are no reportable segments.



4. Consequent to introduction of Goods and Services Tax (GST) with effect from 1st July, 2017. Central Excise Value Added Tax (VAT) etc. have been subsumed into GST. In accordance with Indian Accounting Standard - 18 on Revenue and Schedule III of the Companies Act, 2013. unlike Excise Duties, levies like GST, VAT, etc. are not part of Revenue. Accordingly, the figures for the periods upto 30th June, 2017 are not strictly relatable to those thereafter The following additional information is being provided to facilitate such understanding: For Table, kindly refer Corporate Announcements on www.bseindia.com.



5. In earlier years, pursuant to court orders, the Haryana State Industrial & Infrastructure Development Corporation Limited ("HSIIDC") had raised demands amounting to INR 10,317 million towards enhanced compensation to landowners for the Company's freehold land at Manesar. Haryana During the current quarter. HSIIDC has revised the demands to INR 9.717 million alter adjusting INR 3.742 million paid by the Company under protest in an earlier year The matter is currently pending with the Punjab & Haryana High Court for fresh adjudication.



6. The scheme of amalgamation (Scheme) between the Company (Amalgamated Company) and its seven wholly owned subsidiaries (Amalgamating Companies), by the name of Maruti Insurance Business Agency Limited. Maruti Insurance Distribution Services Limited. Maruti Insurance Agency Network Limited. Maruti Insurance Agency Solutions Limited. Maruti Insurance Agency Sendees Limited, Maruti Insurance Agency Logistics Limited and Maruti Insurance Broker Limited as approved by the National Company Law Tribunal has become effective w e f. the appointed date ie 1st April, 2016 on completion of all the required formalities on 11th July, 2017. The Scheme envisages transfer of all properties, rights, powers, liabilities and duties of the Amalgamating Companies to the Amalgamated Company.



Pursuant to the Scheme, during the previous quarter, the amalgamation has been accounted under the 'pooling of interests’ method in accordance with the "Ind AS 103 Business Combinations" and the assets, liabilities and reserves of the Amalgamating Companies have been accounted for at their book value, in the books of the Amalgamated Company. The share capital of the Amalgamating Companies have been cancelled with the Amalgamated Company’s investment in the Amalgamating Companies.



The net assets and reserves taken over as at 1st April, 2016 amounted to INR 2.489 million and INR 2.475 million respectively, The results of previous quarter ended and half year ended 30th September, 2016 and for the year ended 31st March, 2017 have been restated to give effect to the amalgamation Consequent to this restatement, the profit after tax for the quarter ended and half year ended 30th September, 2016 and year ended 31st March, 2017 is higher by INR 35 million INR 82 million INR 125 million respectively and total equity as at 31st March, 2017 is higher by INR 2,600 million.



7. The figures of previous periods have been re-grouped, wherever necessary, to conform to the current quarter’s classification.

 

 

FIXED ASSETS:

 

Tangible Assets

 

·         Freehold Land

·         Leasehold Land

·         Building

·         Plant and Machinery

·         Electronic Data Processing Equipment

·         Furniture, Fixtures and Office Appliances

·         Vehicles

 

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 64.81

UK Pound

1

INR 90.65

Euro

1

INR 79.94

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKTS

 

 

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

YES

--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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.