|
|
|
MIRA INFORM REPORT
|
Report No. : |
487043 |
|
Report Date : |
20.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAT BRAKES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Suite No. 311, Vardhman Diamond Plaza, D.B. Gupta Road, Paharganj, New Delhi -
110055 |
|
Tel. No.: |
91-130-3072600 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
01.02.2011 |
|
|
|
|
Com. Reg. No.: |
55-213212 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 977.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300DL2011FTC213212 |
|
|
|
|
IEC No.: |
0511043040 |
|
|
|
|
TIN No.: |
Not Divulged |
|
|
|
|
GST No.: |
07AAGCM9838B1ZC |
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM9838B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
·
Manufacturer, Trader and Exporter of Disc Brake Pads, Brake Rotors, Disc
Pack, etc. and Importer of Raw Material. (Confirmed by Management) · The Company’s business consists of Manufacturing of Flexible Brake Linings, Brake Pads, Brake Shoes and Brake Shoe Kits for Passenger Cars and Commercial Vehicles. (Registered Activity and also Confirmed by Management) |
|
|
|
|
No. of Employees
: |
200 (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 2380000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “MAT Holdings Inc., USA” and was incorporated in the year 2011, and is a manufacturer, trader and exporter of disc brake pads, brake routers, disk pack etc.
|
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 20.01.2018.
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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Ramesh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-8683000314 |
|
Date : |
19.01.2018 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Suite No. 311, Vardhman Diamond Plaza, D.B. Gupta Road, Paharganj, New Delhi –
110055, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8683000314 (Mr. Ramesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
yogesh.kumar@matholdingsinc.com
|
|
|
|
|
Factory 2 : |
Plot No. 65,
Sector 53, Phase V, Kundli Industrial Estate, Kundli, Sonipat – 131028, Haryana, India |
|
Tel. No.: |
91-130-3072600 |
|
Fax No.: |
91-130-3072630 |
|
Locality : |
Industrial |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Aemamul Haque |
|
Designation : |
Additional Director |
|
Address : |
House Number 389, Near Dav School, Sector-15, Sonipat – 131001, Haryana, India |
|
Date of Birth: |
04.02.1968 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
31.12.2016 |
|
DIN No.: |
07489111 |
|
PAN No.: |
ABTPH2798G |
|
|
|
|
Name : |
Mr. Steven Ross Hopkins |
|
Designation : |
Additional Director |
|
Address : |
Flat No 3112, Parker Residency, Sector 61, Kundli District, Sonipat - 131001, Haryana, India |
|
Date of Appointment : |
01.10.2016 |
|
DIN No.: |
07645257 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Kumar Jha |
|
Designation : |
Company Secretary |
|
Address : |
A-1470, St No. 15, Nathu Colony, Burari, New Delhi – 110084, India |
|
Date of Appointment : |
01.01.2017 |
|
PAN No.: |
ANYPJ5860A |
|
|
|
|
Name : |
Mr. Ramesh |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Mat Holding Inc. |
2575000 |
26.34 |
|
Roulunds Braking India Private Limited |
2400000 |
24.55 |
|
Danblock Brakes India Private Limited |
4800000 |
49.10 |
|
|
|
|
|
Total |
9775000 |
100.00 |
AS ON: 29.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters (Bodies corporate) |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
·
Manufacturer, Trader and Exporter of Disc Brake Pads, Brake Rotors, Disc Pack,
etc. and Importer of Raw Material. (Confirmed by Management) · The Company’s business consists of Manufacturing of Flexible Brake Linings, Brake Pads, Brake Shoes and Brake Shoe Kits for Passenger Cars and Commercial Vehicles. (Registered Activity and also Confirmed by Management) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
USA ·
European Countries |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
·
China ·
USA ·
European Countries |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, L/C and Credit [30/ 60 Days] |
||||
|
|
|
||||
|
Purchasing : |
Cash, L/C and Credit [30/ 60 Days] |
PRODUCTION STATUS: (NOT AVAILABLE]
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers, Retailers and End Users
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
200 [Approximately] |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited · Kotak Mahindra Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
MZSK and Associates Chartered Accountants |
|
Address : |
1032,1033 and 1034, 10th Floor, Spaze-1-Tech Park, Tower-A, Sector-49, Sohna Road, Gurugram - 122001, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK3470E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Fellow Subsidiary company : |
· MAT India Technologies Private Limited [U74140DL2009FTC193291] · Danblock Brakes India Private Limited [U51504DL2007PTC166422] · Roulunds Braking India Private Limited [U25191DL1997PTC086779] |
|
|
|
|
Enterprises which are owned, or have
significant influence of
or are partners with Key management personnel and their
relatives : |
·
Meneta Automotive Components Private
Limited [U34300DL2006FTC154863] |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 100/- each |
INR 1000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9775000 |
Equity Shares |
INR 100/- each |
INR 977.500 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 |
977.500 |
977.500 |
677.500 |
|
(b) Reserves and Surplus |
(144.199) |
(239.483) |
(296.012) |
|
(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) |
833.301 |
738.017 |
381.488 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1121.906 |
554.873 |
671.586 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
2.117 |
1.539 |
7.882 |
|
(d) long-term
provisions |
7.242 |
5.507 |
10.478 |
|
Total Non-current
Liabilities (3) |
1131.265 |
561.919 |
689.946 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
611.410 |
521.529 |
|
(b) Trade
payables |
210.553 |
392.210 |
474.436 |
|
(c) Other
current liabilities |
403.685 |
390.427 |
219.618 |
|
(d) Short-term
provisions |
5.490 |
9.203 |
16.307 |
|
Total Current
Liabilities (4) |
619.728 |
1403.250 |
1231.890 |
|
|
|
|
|
|
TOTAL |
2584.294 |
2703.186 |
2303.324 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1505.329 |
1480.610 |
1040.233 |
|
(ii)
Intangible Assets |
6.040 |
8.068 |
10.779 |
|
(iii) Tangible assets
capital work-in-progress |
6.263 |
66.348 |
346.590 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.017 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
76.487 |
74.038 |
71.314 |
|
(e) Other
Non-current assets |
18.792 |
22.868 |
19.240 |
|
Total Non-Current
Assets |
1612.928 |
1651.932 |
1488.156 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
669.085 |
768.762 |
618.594 |
|
(c) Trade
receivables |
130.865 |
184.467 |
168.471 |
|
(d) Cash and
bank balances |
3.643 |
3.789 |
7.125 |
|
(e)
Short-term loans and advances |
78.210 |
17.561 |
20.978 |
|
(f) Other current
assets |
89.563 |
76.675 |
0.000 |
|
Total
Current Assets |
971.366 |
1051.254 |
815.168 |
|
|
|
|
|
|
TOTAL |
2584.294 |
2703.186 |
2303.324 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2800.352 |
2832.238 |
1761.065 |
|
|
Other Income |
154.839 |
109.790 |
9.631 |
|
|
TOTAL |
2955.191 |
2942.028 |
1770.696 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1935.758 |
1928.248 |
1292.698 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(121.962) |
(30.379) |
(22.027) |
|
|
Employee benefit expense |
375.990 |
323.629 |
239.227 |
|
|
Other expenses |
439.850 |
421.457 |
250.813 |
|
|
TOTAL |
2629.636 |
2642.955 |
1760.711 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
325.555 |
299.073 |
9.985 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
82.091 |
122.606 |
74.089 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
243.464 |
176.467 |
(64.104) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
152.674 |
119.938 |
89.618 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
90.790 |
56.529 |
(153.722) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
90.790 |
56.529 |
(153.722) |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
Free on board value of exports |
2677.541 |
2766.199 |
1699.005 |
|
|
Interest income on Fixed deposits |
0.114 |
0.087 |
0.130 |
|
|
TOTAL EARNINGS |
2677.655 |
2766.286 |
1699.135 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials |
619.458 |
873.646 |
662.481 |
|
|
Capital goods |
52.745 |
123.879 |
91.392 |
|
|
Others (consumables and stores and spares) |
17.981 |
14.126 |
14.621 |
|
|
TOTAL IMPORTS |
690.184 |
1011.651 |
768.494 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
9.29 |
5.78 |
(15.73) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
338.467 |
289.835 |
85.998 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
188.197 |
(63.827) |
(36.755) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
177.701 |
(63.686) |
(36.721) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
17.06 |
23.77 |
34.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
21.40 |
15.35 |
10.45 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
39.70 |
74.24 |
133.96 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.49 |
0.39 |
0.02 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.21 |
0.19 |
0.01 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.80 |
0.83 |
0.86 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.75 |
1.97 |
3.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.74 |
1.90 |
3.23 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.82 |
2.11 |
3.66 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.97 |
2.44 |
0.13 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
3.24 |
2.00 |
(8.73) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.51 |
2.09 |
(6.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
10.90 |
7.66 |
(40.30) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.57 |
0.75 |
0.66 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.49 |
0.20 |
0.16 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.27 |
0.17 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
1.49 |
1.49 |
1.89 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.57 |
0.75 |
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
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
677.500 |
977.500 |
977.500 |
|
Reserves & Surplus |
(296.012) |
(239.483) |
(144.199) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
381.488 |
738.017 |
833.301 |
|
|
|
|
|
|
Long-term borrowings |
671.586 |
554.873 |
1121.906 |
|
Short term borrowings |
521.529 |
611.410 |
0.000 |
|
Current maturities of
long-term debts |
85.998 |
289.835 |
338.467 |
|
Total
borrowings |
1279.113 |
1456.118 |
1460.373 |
|
Debt/Equity
ratio |
3.353 |
1.973 |
1.753 |
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 |
1761.065 |
2832.238 |
2800.352 |
|
|
|
60.825 |
(1.126) |
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 |
1761.065 |
2832.238 |
2800.352 |
|
Profit/ (Loss) |
(153.722) |
56.529 |
90.790 |
|
|
(8.73
%) |
2.00
% |
3.24
% |
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 |
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) |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G12843298 |
10511100 |
HDFC BANK LIMITED |
19/07/2014 |
08/09/2016 |
- |
150000000.0 |
HDFC BANK HOUSENAPATI
BAPAT MARG,LOWER PAREL WMUMBAIMH400013IN |
|
2 |
G02465144 |
10509634 |
KOTAK MAHINDRA
BANK LIMITED |
11/07/2014 |
08/04/2016 |
- |
220000000.0 |
KOTAK AEROCITY,
IBIS COMMERCIAL BLOCKASSET AREA 9, HOSPITALITY DIST, DELHI AEROCITYNEW DELHIDL110037IN |
|
3 |
B89812549 |
10325468 |
ICICI BANK LIMITED |
29/12/2011 |
25/10/2013 |
- |
490000000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
4 |
G10667434 |
10460925 |
ICICI BANK LIMITED |
25/10/2013 |
19/12/2014 |
12/08/2016 |
195000000.0 |
LANDMARKRACE
COURCE CIRCLEALKAPURIBARODAGJ390015IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Foreign currency term loans from banks |
129.678 |
265.332 |
|
Foreign currency term loans from others |
798.000 |
0.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Foreign currency term loans from banks |
0.000 |
350.000 |
|
|
|
|
|
Total |
927.678 |
615.332 |
OPERATIONS REVIEW AND
THE STATE OF AFFAIRS OF THE COMPANY
As you are aware that the Company is engaged in the business of manufacturing of metal and metal products like passenger vehicle brake pads and commercial vehicle brake pads. The Company, during the Current financial year, would focus on all kinds of varieties of Brake Pads etc. This would strengthen the generation and sustainability of revenue in the years to come. The Company achieved total revenue of INR 2955.191 million in 2016-17 as against INR 2942.028 million in (2015-16).
BACKGROUND
The Company was incorporated in India on 1 February 2011.
The Company’s business consists of manufacturing of Flexible Brake Linings, Brake Pads, Brake Shoes and Brake Shoe Kits for Passenger Cars and Commercial Vehicles. The Company’s unit situated at Sonepat (Haryana) is an Export Oriented Undertaking in terms of approval given by Noida Special Economic Zone in November 2012.The Company is a closely held Company with 26.34% (Previous year 26.34%) of shares being held by MAT Holdings Inc. (the holding company), 24.55% (Previous year 24.55%) of the shares being held by Roulunds Braking India Private Limited (a fellow subsidiary company) and the balance 49.11% (Previous year 49.11%) of the shares being held by Danblock Brakes India Private Limited (a fellow subsidiary company)
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer equipment’s
·
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 63.72 |
|
UK Pound |
1 |
INR 88.64 |
|
Euro |
1 |
INR 78.14 |
INFORMATION
DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
YES |
|
--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.