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|
|
MIRA INFORM REPORT
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Report No. : |
485504 |
|
Report Date : |
10.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
GESTAMP PUNE AUTOMOTIVE PRIVATE LIMITED (w.e.f. 07.09.2015) |
|
|
|
|
Formerly Known
As : |
SUNGWOO
GESTAMP HITECH (PUNE) PRIVATE LIMITED (w.e.f. 08.01.2010) SUNGWOO
AUTOMOTIVE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 374, 517-521 and 523, Village Takve Budruk, Taluka Maval Vadgaon Village Takve, Budruk – 412106, Maharashtra |
|
Mobile No.: |
91-9673331279 (Mr. Ganesh Shimpi) |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
07.08.2008 |
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|
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|
Com. Reg. No.: |
11-132576 |
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Capital
Investment / Paid-up Capital : |
INR 2370.000 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U28939PN2008PTC132576 |
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IEC No.: |
Not Divulged |
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GSTIN/UIN : |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAMCS2106G |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The Company is engaged in the manufacture of various auto components parts for passenger cars. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 4014000 |
|
|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of “Gestamp Automotive Chennai Private
Limited” based in Chennai but its ultimate holding in “Gestamp Cerveira”
based in Spain. Sungwoo Hightech company Limited, Korea has exited from Joint Venture
with effect from July 30, 2015 and the company is owned by “Gestamp
Automotive Chennai Private Limited” and M/s Gestamp Cerveira, Spain. It was incorporated in the 2008 and engaged in manufacturing of
various auto components parts for passenger cars. As per the financials of March 2017, the company has resumed its
business operations but has incurred losses. Rating takes into consideration the company’s satisfactory track
record of business operations marked by sound capital base along with low
solvency indicators and decent liquidity position. Rating also takes into account the strong financial and managerial
support received from its holding entity. However, rating strength is partially offset by negative reserves of
the company. Payments are reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 10.01.2018
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
Management Non-Cooperative (91-9673331279 / 91-2135-396302)
LOCATIONS
|
Registered Office : |
Gat No. 374, 517-521 and 523, Village Takve Budruk, Taluka Maval Vadgaon Village Takve, Budruk – 412106, Maharashtra, India |
|
Tel. No.: |
91-2135-396302 |
|
Mobile No.: |
91-9673331279 (Mr. Ganesh Shimpi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Francisco Jose Riberas Mera |
|
Designation : |
Director |
|
Address : |
16, Alfonso XII St, Madrid 28014 ES, Spain |
|
Date of Birth/Age : |
01.06.1964 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.07.2009 |
|
DIN No.: |
01732230 |
|
|
|
|
Name : |
Mr. Raman Nanda |
|
Designation : |
Additional Director |
|
Address : |
V-16, Sacred Heart Town, Wanowri, Pune – 411040, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1956 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.12.2011 |
|
DIN No.: |
00078198 |
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|
|
|
Name : |
Francisco Lopez Pena |
|
Designation : |
Additional Director |
|
Address : |
7, Buho Street, Pozuela De Alarcon Madrid 28223 ES, Spain |
|
Date of Birth/Age : |
05.03.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.07.2015 |
|
DIN No.: |
01790019 |
|
|
|
|
Name : |
Mr. Sachanand Murlidhar Dakhneja |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 4, Building No. B, Dhanraj Housing Society, Tapovan Road, Pimpri Colony, Pune – 411017, Maharashtra, India |
|
Date of Appointment : |
29.07.2015 |
|
DIN No.: |
06998364 |
|
|
|
|
Name : |
Mr. Manish Upadhyaya |
|
Designation : |
Additional Director |
|
Address : |
H.No. 431, Sector – 46, Faridabad – 121001, Haryana, India |
|
Date of Appointment : |
21.04.2016 |
|
DIN No.: |
07044189 |
|
|
|
|
Name : |
Jeffrey Winston Wilson |
|
Designation : |
Alternate Director |
|
Address : |
723, Ann St, Birmingham, MI 48009-3619 Birmingham 0000 USA |
|
Date of Birth/Age : |
01.04.1960 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
05.07.2012 |
|
DIN No.: |
05150375 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh Shimpi |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Kanj and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
3-4, ‘Aishwarya Sankul’, S. No.17, G.A. Kulkarni Path, Opposite Joshi
Railway, Kothrud, Pune – 411038, Maharashtra, India |
|
Tel No.: |
91-20-25466265/ 65204591/ 65296055 |
|
Fax No.: |
91-20-25461561 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Gestamp Cerviera Lda |
62500000 |
26.37 |
|
Gestamp Automotive Chennai Private Limited |
174500000 |
73.63 |
|
Total |
237000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 20.09.2017
|
Category |
Percentage |
|
Promoters [Bodies
corporate] |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacture of various auto components parts for passenger cars. [Registered Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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|
Name : |
V C Venkatraman and Company Chartered Accountants |
|
Address : |
No 11, Alka Classic, 20/1, Somwar Peth, Pune – 411011, Maharashtra, India |
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PAN No.: |
AAKFV8172C |
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|
Memberships : |
Not Available |
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|
|
Collaborators : |
Not Available |
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|
Ultimate holding
company : |
·
Corporacion Gestamp, S.L., Spain |
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|
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|
Joint venture
partners : |
· Gestamp Cerveira, Spain |
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|
Enterprises that
jointly control the company : |
·
Gestamp Automotive Chennai Private Limited,
India |
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|
Fellow Subsidiary
companies : |
· Gestamp Automotive India Private Limited, India · Loire safe, Spain · Gestamp Auto Components, China · Gestamp Auto Components – Kunshan, China · Gestamp Auto Components (Shenyang) Co, China · Gestamp Global Tooling S.L., Spain · Gestamp Puebla S.A. De C.V., Mexico · Gestamp Tool Hardening, S L, Spain · Gestamp Servicios S. L., Spain |
CAPITAL STRUCTURE
AS ON 20.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
237000000 |
Equity Shares |
INR 10/- each |
INR 2370.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
237000000 |
Equity Shares |
INR 10/- each |
INR 2370.000 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 |
2370.000 |
1810.000 |
1250.000 |
|
(b) Reserves & Surplus |
(965.115) |
(951.278) |
(921.345) |
|
(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) |
1404.885 |
858.722 |
328.655 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
470.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
467.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
484.510 |
2.311 |
378.532 |
|
(c) Other
current liabilities |
1020.405 |
224.185 |
51.297 |
|
(d) Short-term
provisions |
5.120 |
0.196 |
0.000 |
|
Total Current
Liabilities (4) |
1510.035 |
226.692 |
429.829 |
|
|
|
|
|
|
TOTAL |
3381.920 |
1085.414 |
758.484 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1798.486 |
453.778 |
453.778 |
|
(ii)
Intangible Assets |
5.970 |
2.436 |
2.436 |
|
(iii)
Capital work-in-progress |
18.988 |
195.893 |
0.000 |
|
(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 Loan and Advances |
28.471 |
20.997 |
18.096 |
|
(e) Other Non-current
assets |
785.805 |
43.050 |
0.000 |
|
Total Non-Current
Assets |
2637.720 |
716.154 |
474.310 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
54.440 |
2.440 |
2.829 |
|
(c) Trade
receivables |
207.192 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
124.512 |
49.754 |
184.841 |
|
(e)
Short-term loans and advances |
361.042 |
316.392 |
94.304 |
|
(f) Other
current assets |
0.014 |
0.674 |
2.200 |
|
Total
Current Assets |
747.200 |
369.260 |
284.174 |
|
|
|
|
|
|
TOTAL |
3384.920 |
1085.414 |
758.484 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
0.364 |
0.000 |
0.000 |
|
|
Other Income |
59.913 |
6.626 |
46.504 |
|
|
TOTAL |
60.277 |
6.626 |
46.504 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.234 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(9.220) |
0.000 |
0.000 |
|
|
Employee benefit expense |
9.353 |
0.044 |
2.198 |
|
|
Other expenses |
58.905 |
21.635 |
111.333 |
|
|
TOTAL |
59.272 |
21.679 |
113.531 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1.005 |
(15.053) |
(67.027) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.132 |
14.879 |
0.041 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(0.127) |
(29.932) |
(67.068) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
13.711 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(13.838) |
(29.932) |
(67.068) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(13.838) |
(29.932) |
(67.068) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
575.903 |
0.000 |
0.000 |
|
|
Capital Goods |
548.079 |
137.105 |
0.000 |
|
|
TOTAL IMPORTS |
1123.981 |
137.105 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(0.06) |
(0.17) |
(0.54) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
646.550 |
(488.626) |
(167.297) |
|
Net cash flows from (used in) operating activities |
631.340 |
(480.596) |
(167.297) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
207761.21 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
755752.78 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.02 |
(6.17) |
(23.69) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.00 |
(0.02) |
(0.15) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.58 |
0.21 |
0.57 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.33 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.07 |
0.26 |
1.31 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.30 |
0.76 |
1.39 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.89 |
(1.01) |
(1634.80) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
(3801.65) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(0.41) |
(2.76) |
(8.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(0.98) |
(3.49) |
(20.41) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.49 |
1.63 |
0.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.46 |
1.62 |
0.65 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.42 |
0.79 |
0.43 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.20 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.49 |
1.63 |
0.66 |
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 |
1250.000 |
1810.000 |
2370.000 |
|
Reserves & Surplus |
(921.345) |
(951.278) |
(965.115) |
|
Net
worth |
328.655 |
858.722 |
1404.885 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
0.000 |
470.000 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
470.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.335 |
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 |
|
Total
Income |
46.504 |
6.626 |
60.277 |
|
|
|
(85.752) |
809.704 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Total
Income |
46.504 |
6.626 |
60.277 |
|
Profit/(Loss) |
(67.068) |
(29.932) |
(13.838) |
|
|
(144.22%) |
(451.74%) |
(22.96%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
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 |
CORPORATE INFORMATION
Gestamp Pune Automotive Private Limited (Formerly known as Sungwoo Gestamp Hitech (Pune) Private Limited) is a private company domiciled in India and incorporated under the provision of the Companies Act, 1956.The Company was incorporated on August 7, 2008 by M/s. Sungwoo Hitech Company Limited, Korea. On April 3, 2009, M/s. Sungwoo Hitech Company Limited, Korea has entered into a Joint Venture Agreement with M/s. Gestamp Cerveira, Spain with equal share in the Share Capital. The Sungwoo Hitech Company Limited, Korea has existed from joint venture with effect from July 30, 2015 and the company is owned by Gestamp Automotive Chennai Private Limited and M/s. Gestamp Cerveira, Spain. The Company is engaged in the manufacture of various auto components parts for passenger cars.
THE STATE OF
COMPANY AFFAIRS:
The company has restarted the manufacturing activities from March 2017 and presently working on orders of FIAT India Limited.
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
470.000 |
0.000 |
|
|
|
|
|
Total |
470.000 |
0.000 |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
FIXED ASSETS:
Tangible assets
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
Intangible assets
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.35 |
|
|
1 |
INR 85.89 |
|
Euro |
1 |
INR 76.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
SAV |
|
|
|
|
Analysis Done by
: |
VVK |
|
|
|
|
Report Prepared
by : |
NKT |
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.