|
|
|
MIRA INFORM REPORT
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Report No. : |
486219 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
Q H TALBROS PRIVATE LIMITED (w.e.f.
28.03.2016) |
|
|
|
|
Formerly known
as : |
TALWAR STEERING AND SUSPENSION LIMITED |
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Registered
Office : |
400, Udyog Vihar, Phase - III, Gurugram -122016, Haryana |
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Tel. No.: |
91-124-4002963 |
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|
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
06.06.2014 |
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|
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|
Com. Reg. No.: |
05-052479 |
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|
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Capital
Investment / Paid-up Capital : |
INR 30.500 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U34102HR2014PTC052479 |
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IEC No.: |
Not Divulged |
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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.] |
AAFCT0488D |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The subject continues to carry the business of manufacturing of Steering and Suspension Components for four wheeler vehicles. (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)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2400000 |
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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 2014. It is a subsidiary of
Talbros International Private Limited, India. The company manufacturers steering and suspension components (such as
steering tie rod, joint assembly, control arms, etc.) and supplies to
4-wheeler Original Equipment Manufacturers (OEMs). The company’s customer includes- Tata, Mahindra, Eicher, Fiat, Ashok
Leyland, John Deere, etc. As per the financial of 2017, the company has achieved an average
growth of 5.65% in its revenue as compared to the previous year and has
gained a modest net profit margin of 2.11%. The company possesses sound financial profile marked by healthy net
worth base along with low debt balance sheet profile and comfortable
liquidity parameters. Rating takes into consideration the company’s favourable Earnings Per
Share (EPS) of INR 30.13 as against its Face Value (FV) of INR 10. Business is active. Payments are reported 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 |
|
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 |
CARE |
|
Rating |
Long Term Loans = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
20.12.2016 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Loans = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
20.12.2016 |
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 15.01.2019
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: Tel. No.:
91-124-4002963
LOCATIONS
|
Registered Office / Corporate Office : |
400, Udyog Vihar, Phase - III, Gurugram -122016, Haryana, India |
|
Tel. No.: |
91-124-4002963 / 64 / 65 |
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Fax No.: |
91-124-4002960 |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Naresh Talwar |
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|
Designation : |
Managing Director |
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Address : |
D-1/36, Vasant Vihar, New Delhi – 110057, India |
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Date of Birth/Age : |
12.10.1940 |
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Qualification : |
Graduate |
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Date of Appointment : |
05.01.2016 |
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PAN No.: |
AADPT7190B |
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DIN No.: |
00059155 |
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Other Directorship:
|
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|
||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Umesh Talwar |
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Designation : |
Managing Director |
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Address : |
152-F, Malcha Marg, Diplomatic Enclave, New Delhi –
110021, India |
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Date of Birth/Age : |
29.09.1950 |
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Qualification : |
MBA |
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Date of Appointment : |
05.01.2016 |
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PAN No.: |
AACPT8093J |
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DIN No.: |
00059271 |
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Other Directorship:
|
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Name : |
Mr. Vidur Talwar |
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Designation : |
Managing Director |
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Address : |
D-1/36, Vasant Vihar, New Delhi – 110057, India |
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Date of Birth/Age : |
30.06.1971 |
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Qualification : |
MBA Finance |
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Date of Appointment : |
05.01.2016 |
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PAN No.: |
AADPT2269H |
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DIN No.: |
00114643 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Siddharth Mishra |
|
Designation : |
Company Secretary |
|
Address : |
E-49, Second Floor, Kalkaji, New Delhi – 110019, India |
|
Date of Appointment : |
02.05.2016 |
|
PAN No.: |
APXPM7674N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Dr. Sartaj Sahni |
|
142858 |
|
Naresh Talwar |
|
116 |
|
Umesh Talwar |
|
146 |
|
Kumkum Talwar |
|
15 |
|
Bimpi Talwar |
|
60 |
|
Varun Talwar |
|
13 |
|
Vidur Talwar |
|
16 |
|
Pooja Talwar |
|
12 |
|
Gauri Punj |
|
15 |
|
Anuj Talwar |
|
16 |
|
Aanchal Talwar |
|
15 |
|
Virat Talwar U/G Vidur Talwar |
|
15 |
|
Jai Vir Talwar U/G Mr. Vidur Talwar |
|
15 |
|
Anannya Talwar U/G Varun Talwar |
|
12 |
|
Aliesha Talwar U/G Varun Talwar |
|
12 |
|
Arav Talwar U/G Varun Talwar |
|
12 |
|
Aashiv Talwar U/G Anuj Talwar |
|
15 |
|
Navin Juneja |
|
1 |
|
Talbros Automotive Components Limited |
|
177962 |
|
Talbros International Private Limited |
|
2728674 |
|
Total |
|
3050000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
0.02 |
|
Promoter - Bodies
corporate |
95.30 |
|
Public – (Individual/ Hindu
Undivided Family – Foreign National (Other than NRI) |
4.68 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject continues to carry the business of manufacturing of Steering and Suspension Components for four wheeler vehicles. (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
|
Suppliers : |
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Customers : (From Indirect Source) |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
S.N. Dhawan and Company Chartered Accountants |
|
Address : |
410, Ansal Bhawan 16, Kasturba Gandhi Marg, New Delhi – 110001, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAQFS0580H |
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|
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Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
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Holding company : |
U31909HR1980PTC010226 |
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|
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Subsidiary company
: |
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|
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|
|
Fellow Subsidiary
company : |
U74899HR1986PTC069593 |
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|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
L29199HR1956PLC033107
U72300DL2007PTC170806
U50100DL2000PTC105097
U74900DL2016PTC289188
U34300DL1997PTC089072 |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7050000 |
Equity Shares |
INR 10/- each |
INR 70.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3050000 |
Equity Shares |
INR 10/- each |
INR 30.500
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 |
30.500 |
30.500 |
0.500 |
|
(b) Reserves & Surplus |
821.641 |
729.758 |
(0.012) |
|
(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) |
852.141 |
760.258 |
0.488 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
64.730 |
150.312 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
29.912 |
33.234 |
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) |
94.642 |
183.546 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
701.869 |
517.913 |
0.000 |
|
(b) Trade payables |
823.448 |
919.610 |
0.000 |
|
(c) Other current liabilities |
200.610 |
209.202 |
0.011 |
|
(d) Short-term provisions |
20.472 |
26.075 |
0.000 |
|
Total
Current Liabilities (4) |
1746.399 |
1672.800 |
0.011 |
|
|
|
|
|
|
TOTAL |
2693.182 |
2616.604 |
0.499 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
623.923 |
627.829 |
0.000 |
|
(ii) Intangible Assets |
34.727 |
67.921 |
0.000 |
|
(iii) Capital work-in-progress |
2.462 |
9.483 |
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 |
52.545 |
32.855 |
0.000 |
|
(e) Other Non-current assets |
7.363 |
6.765 |
0.000 |
|
Total
Non-Current Assets |
721.020 |
744.853 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
492.273 |
501.827 |
0.000 |
|
(c) Trade receivables |
1188.541 |
1075.005 |
0.000 |
|
(d) Cash and cash equivalents |
26.469 |
13.976 |
0.499 |
|
(e) Short-term loans and
advances |
249.116 |
266.711 |
0.000 |
|
(f) Other current assets |
15.763 |
14.232 |
0.000 |
|
Total
Current Assets |
1972.162 |
1871.751 |
0.499 |
|
|
|
|
|
|
TOTAL |
2693.182 |
2616.604 |
0.499 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4359.626 |
4126.353 |
0.000 |
|
|
Other Income |
19.156 |
36.360 |
0.000 |
|
|
TOTAL
|
4378.782 |
4162.713 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2443.035 |
2400.719 |
0.000 |
|
|
Purchases of Stock-in-Trade |
61.386 |
7.080 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
24.744 |
(47.596) |
0.000 |
|
|
Employees benefits expense |
709.472 |
646.060 |
0.000 |
|
|
Other expenses |
866.524 |
797.710 |
0.012 |
|
|
TOTAL |
4105.161 |
3803.973 |
0.012 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
273.621 |
358.740 |
(0.012) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
81.272 |
102.303 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
192.349 |
256.437 |
(0.012) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
95.664 |
92.490 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
96.685 |
163.947 |
(0.012) |
|
|
|
|
|
|
|
Less |
TAX |
4.802 |
41.153 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
91.883 |
122.794 |
(0.012) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
91.883 |
122.794 |
-0.012 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
588.302 |
645.875 |
0.000 |
|
|
Other Income |
3.422 |
4.259 |
0.000 |
|
|
TOTAL
EARNINGS |
591.724 |
650.134 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
29.685 |
70.880 |
0.000 |
|
|
Capital Goods |
2.051 |
0.762 |
0.000 |
|
|
TOTAL
IMPORTS |
31.736 |
71.642 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
30.13 |
230.12 |
(0.30) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
78.600 |
89.364 |
0.000 |
|
Net cash flows from (used in) operations |
6.389 |
132.630 |
(0.001) |
|
Net cash flows from (used in) operating activities |
41.194 |
186.652 |
(0.001) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
99.51 |
95.09 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.67 |
3.84 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
120.01 |
139.40 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.56 |
0.71 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.41 |
0.51 |
0.00 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.70 |
0.73 |
0.02 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.99 |
1.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.05 |
2.20 |
0.02 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.78 |
0.93 |
0.00 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.37 |
3.51 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.11 |
2.98 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
3.41 |
4.69 |
(2.40) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.78 |
16.15 |
(2.46) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.13 |
1.12 |
45.36 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.85 |
0.82 |
45.36 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.32 |
0.29 |
0.98 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
27.71 |
24.84 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.13 |
1.12 |
45.36 |
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 |
0.500 |
30.500 |
30.500 |
|
Reserves & Surplus |
(0.012) |
729.758 |
821.641 |
|
Net
worth |
0.488 |
760.258 |
852.141 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
150.312 |
64.730 |
|
Short Term borrowings |
0.000 |
517.913 |
701.869 |
|
Current Maturities of Long term debt |
0.000 |
89.364 |
78.600 |
|
Total
borrowings |
0.000 |
757.589 |
845.199 |
|
Debt/Equity
ratio |
0.000 |
0.996 |
0.992 |
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
|
0.000 |
4126.353 |
4359.626 |
|
|
|
|
5.653 |
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
|
0.000 |
4126.353 |
4359.626 |
|
Profit |
(0.012) |
122.794 |
91.883 |
|
|
|
2.98% |
2.11% |
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 was established in the year 2014 as a 100% subsidiary company of QH Talbros Limited. During the Financial year 2015-16, the Honorable High Court of Punjab and Haryana had sanctioned a scheme of arrangement ( the scheme ) whereby the auto component undertaking (demerged undertaking) of QH Talbros Limited ( demerged company) was demerged into the Talwar Steering and Suspension Limited on going concern basis with effect from appointed date 1st April 2015. In accordance with the scheme, the name of the company was changed to QH Talbros Limited on 28th March 2016. Further during the year, the company has been converted to a private limited company and renamed as “ QH Talbros Private Limited” with effect from 13th July 2016.
The company continues to carry the business of manufacturing of Steering and Suspension Components for four wheeler vehicles.
QH Talbros Private Limited today is an acknowledged market leader and meets the Steering and Suspension components requirement of all segments including passenger cars, utility vehicles, tractors, off highway vehicles, light and heavy commercial vehicles for OEM’s in India, Overseas and Domestic after market
FINANCIAL REVIEW
Financial year 2016-17 has panned out as a rough year particularly for the Indian automotive sector on account demonetization scheme implemented by the government of India coupled with the Supreme Court imposed ban on registration of diesel vehicles with an engine capacity in excess of 2000 CC. The automotive sector reeled under the double impact of the above two factors. The auto industry grew at 5% during the last year while the last quarter registered a negative growth of 0.19%. During the year, the Company recorded a turnover of INR 4696.123 Million as against a turnover of INR 4431.295 Million during the financial year 20151-6. Profit after tax stood at INR 91.883 Million during 2016-17 as against INR 122.794 Million during the financial year 2015-16. Economic Scenario:
The Global economy is witnessing a modest upswing, the GDP growth for 2017 is estimated to be around 3.50% against the 3.20% levels in 2016. That against the above our Indian economy with a GDP growth of 7.10% during 2016-17 is one of the fastest growing emerging market economies. The reforms ushered by the Government like the introduction of Goods and Service Tax (GST), Infrastructure Development, Digital India and Skill India will further accelerate the economic development.
FUTURE PROSPECTS
Looking ahead the company is confident that the upcoming regulations on safety, emission, and electrification will trigger off a fresh round of investment in their sector which will certainly create additional demand with the OEMs. The company was also able to secure fresh export orders from BMW Germany, the same will catapult to double-digit growth in the export segment.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
0.000 |
8.924 |
|
Intercorporate borrowings |
1.375 |
2.878 |
|
Public deposits |
11.082 |
11.282 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Working capital loans from banks |
100.000 |
100.000 |
|
Public deposits |
0.000 |
0.100 |
|
Total |
112.457 |
123.184 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G15306103 |
100054451 |
IDFC BANK LIMITED |
14/10/2016 |
- |
- |
200000000.0 |
KRM Tower, 8th Floor, No. 1, Harrington Road, Chetpet, Chennai – 600031, Tamilnadu, India |
|
2 |
G14842975 |
100054134 |
HDFC BANK LIMITED |
24/08/2016 |
- |
- |
330000000.0 |
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India |
|
3 |
G36165884 |
100048349 |
YES BANK LIMITED |
22/08/2016 |
23/01/2017 |
- |
400000000.0 |
Nehru Centre, 9th Floor, Discovery of India, Dr. A. B Road, Worli, Mumbai – 400018, Maharashtra, India |
CONTINGENT LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Claims against company not acknowledged as debt |
8.448 |
14.879 |
|
Guarantees |
1.497 |
1.230 |
|
Other money for which company is contingently liable |
126.788 |
88.622 |
FIXED ASSETS
- Land
- Buildings
- Factory 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 63.41 |
|
|
1 |
INR 87.17 |
|
Euro |
1 |
INR 77.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
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.