|
|
|
MIRA INFORM REPORT
|
Report No. : |
488244 |
|
Report Date : |
27.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
DANBLOCK BRAKES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Suite No. 311, Vardhman Diamond Plaza, D.B. Gupta Road, Paharganj, New
Delhi - 110055, India |
|
Tel. No.: |
91-130-3059057 / 3059058 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
30.07.2007 |
|
|
|
|
Com. Reg. No.: |
55-166422 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 564.571 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51504DL2007PTC166422 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELD10024A |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD6739N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The business consists of manufacturing of Disk Brake Pads
for Vehicles. (Registered activity) |
|
|
|
|
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2007. It is a subsidiary of MAT
Holding Inc, USA. The company is a manufacturer of disk brake pads. As per the financial of 2017, the company has achieved a satisfactory
profitability margin of 15.14% but has reported a decline in its revenue as
compared to the previous year. The company possesses healthy financial position marked by strong net
worth base along with zero debt balance sheet profile and comfortable
liquidity parameters. Rating takes into consideration the strength that the company derives
from its holding company and its experienced management team. 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 |
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 27.01.2018
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
Tel. No.: 91-130-3059057 / 3059058 – Continuously ringing
LOCATIONS
|
Registered Office / Factory 1 : |
Suite No. 311, Vardhman Diamond Plaza, D.B. Gupta Road, Paharganj, New
Delhi - 110055, India |
|
Tel. No.: |
91-130-3059057 / 3059058 / 3925061 |
|
Fax No.: |
91-130-3059059/110055 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
Village Joshi Chohan P.O. Bahalgarh, Gt Road, Sonipat - 131021,
Haryana, India |
|
Tel. No.: |
91-130-3059057 / 58/ 2110115 |
|
Fax No.: |
91-130-3059059 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vinod Duhoon |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
4087, Eldeco County Opposite Jurasik Park, Sector-19,
Sonipat – 131001, Haryana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
20.11.1969 |
||||||||||||||||||||||||
|
Qualification : |
CA |
||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||||||||||||||||||
|
PAN No.: |
ANIPD9001F |
||||||||||||||||||||||||
|
DIN No.: |
06420161 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Yogesh Chandra Kaushik |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
36 EXTN, II Nangloi, Delhi – 110041, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
09.02.1972 |
||||||||||||||||||||||||
|
Qualification : |
PGDBM |
||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2015 |
||||||||||||||||||||||||
|
PAN No.: |
ALAPK9596L |
||||||||||||||||||||||||
|
DIN No.: |
07137106 |
||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sumit Kumar |
|
Designation : |
Company Secretary |
|
Address : |
65-B, L.I.G. Flats Rampura, Near Lawrence Road, New Delhi –
110035, India |
|
Date of Birth/Age : |
05.10.1984 |
|
Date of Appointment : |
03.01.2009 |
|
PAN No.: |
AFQPC8630R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
%age |
|
Mat Holdings Inc., |
5640710 |
99.91 |
|
GRI Engineering and Development |
5000 |
0.09 |
|
Total |
5645710 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The business consists of manufacturing of Disk Brake Pads
for Vehicles. (Registered activity) |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
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|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
M S K A and Associates Chartered Accountants |
|
Address : |
The Palm Spring Plaza, Gurugram, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFK3470E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
MAT Holding Inc, United States |
|
|
|
|
Fellow Subsidiary
company: |
U25191DL1997PTC086779
U34300DL2011FTC213212
U74140DL2009FTC193291
U34300DL2006PTC146923 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
U34300DL2006FTC154863
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 100/- each |
INR 600.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5645710 |
Equity Shares |
INR 100/- each |
INR 564.571
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET – (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
564.571 |
564.571 |
564.571 |
|
(b) Reserves and Surplus |
2961.363 |
2216.668 |
1357.408 |
|
(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) |
3525.934 |
2781.239 |
1921.979 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
3.708 |
|
(c) Other long-term
liabilities |
6.676 |
5.622 |
6.042 |
|
(d) long-term provisions |
15.834 |
14.382 |
11.993 |
|
Total Non-current
Liabilities (3) |
22.510 |
20.004 |
21.743 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
635.796 |
|
(b) Trade
payables |
303.471 |
706.576 |
571.140 |
|
(c) Other
current liabilities |
55.815 |
71.789 |
65.482 |
|
(d) Short-term
provisions |
3.296 |
26.692 |
1.949 |
|
Total Current
Liabilities (4) |
362.582 |
805.057 |
1274.367 |
|
|
|
|
|
|
TOTAL |
3911.026 |
3606.300 |
3218.089 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
603.966 |
665.094 |
754.786 |
|
(ii)
Intangible Assets |
1.421 |
1.929 |
3.044 |
|
(iii) Tangible assets
capital work-in-progress |
6.141 |
13.927 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
7.765 |
|
(b) Non-current Investments |
480.017 |
480.000 |
240.000 |
|
(c) Deferred tax assets (net) |
2.221 |
8.296 |
0.000 |
|
(d)
Long-term loans and advances |
718.483 |
173.353 |
137.190 |
|
(e) Other
Non-current assets |
2.500 |
2.500 |
2.500 |
|
Total Non-Current
Assets |
1814.749 |
1345.099 |
1145.285 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
920.727 |
1094.404 |
1108.050 |
|
(c) Trade
receivables |
814.755 |
916.731 |
931.533 |
|
(d) Cash and
bank balances |
40.219 |
0.755 |
7.484 |
|
(e)
Short-term loans and advances |
239.607 |
64.191 |
25.709 |
|
(f) Other
current assets |
80.969 |
185.120 |
0.028 |
|
Total Current
Assets |
2096.277 |
2261.201 |
2072.804 |
|
|
|
|
|
|
TOTAL |
3911.026 |
3606.300 |
3218.089 |
PROFIT
& LOSS ACCOUNT– (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4757.998 |
6205.387 |
5881.898 |
|
|
Other Income |
456.484 |
278.556 |
46.251 |
|
|
TOTAL |
5214.482 |
6483.943 |
5928.149 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2755.133 |
3554.731 |
3827.021 |
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
19.587 |
44.258 |
(103.510) |
|
|
Employee benefit expense |
466.762 |
541.892 |
496.039 |
|
|
Other expenses |
763.945 |
898.611 |
833.281 |
|
|
TOTAL |
4005.427 |
5039.492 |
5052.831 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1209.055 |
1444.451 |
875.318 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.276 |
15.924 |
34.380 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1208.779 |
1428.527 |
840.938 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
106.278 |
111.025 |
107.845 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
1102.501 |
1317.502 |
733.093 |
|
|
|
|
|
|
|
Less |
TAX |
382.305 |
458.242 |
251.974 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
720.196 |
859.260 |
481.119 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
127.56 |
152.20 |
82.22 |
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 |
|
Net cash flows from (used in) operations |
1180.994 |
1348.473 |
(31.674) |
|
Net cash flows from (used in) operating activities |
730.325 |
911.808 |
(281.727) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
62.50 |
53.92 |
57.81 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.84 |
6.77 |
6.31 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
40.20 |
72.55 |
54.47 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
1.31 |
1.32 |
0.79 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.98 |
2.12 |
1.14 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.09 |
0.22 |
0.40 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.00 |
0.00 |
0.33 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.10 |
0.29 |
0.66 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.17 |
0.24 |
0.40 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4380.63 |
90.71 |
25.46 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
15.14 |
13.85 |
8.18 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
18.41 |
23.83 |
14.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
20.43 |
30.89 |
25.03 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
5.78 |
2.81 |
1.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
3.24 |
1.45 |
0.76 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.90 |
0.77 |
0.60 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.00 |
0.00 |
1.13 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
5.78 |
2.81 |
1.63 |
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 |
564.571 |
564.571 |
564.571 |
|
Reserves & Surplus |
1357.408 |
2216.668 |
2961.363 |
|
Net
worth |
1921.979 |
2781.239 |
3525.934 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
635.796 |
0.000 |
0.000 |
|
Total
borrowings |
635.796 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.331 |
0.000 |
0.000 |
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 |
5881.898 |
6205.387 |
4757.998 |
|
|
0.000 |
5.500 |
(23.325) |
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 |
5881.898 |
6205.387 |
4757.998 |
|
Profit/ (Loss) |
481.119 |
859.260 |
720.196 |
|
|
8.18
% |
13.85
% |
15.14
% |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
564.571 |
564.571 |
|
(b) Reserves & Surplus |
|
2985.213 |
2193.728 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
3549.784 |
2758.299 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
6.676 |
5.622 |
|
(d) long-term provisions |
|
15.834 |
14.382 |
|
Total
Non-current Liabilities (3) |
|
22.510 |
20.004 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
303.471 |
706.576 |
|
(c) Other current liabilities |
|
55.814 |
71.789 |
|
(d) Short-term provisions |
|
3.296 |
26.692 |
|
Total
Current Liabilities (4) |
|
362.581 |
805.057 |
|
|
|
|
|
|
TOTAL |
|
3934.875 |
3583.360 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
603.966 |
665.094 |
|
(ii) Intangible Assets |
|
1.421 |
1.929 |
|
(iii) Capital work-in-progress |
|
6.141 |
13.927 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
503.866 |
457.060 |
|
(c) Deferred tax assets (net) |
|
2.221 |
8.296 |
|
(d) Long-term Loan and Advances |
|
718.483 |
173.353 |
|
(e) Other Non-current assets |
|
2.500 |
2.500 |
|
Total
Non-Current Assets |
|
1838.598 |
1322.159 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
920.727 |
1094.404 |
|
(c) Trade receivables |
|
814.755 |
916.731 |
|
(d) Cash and cash equivalents |
|
40.219 |
0.755 |
|
(e) Short-term loans and
advances |
|
239.607 |
64.191 |
|
(f) Other current assets |
|
80.969 |
185.120 |
|
Total
Current Assets |
|
2096.277 |
2261.201 |
|
|
|
|
|
|
TOTAL |
|
3934.875 |
3583.360 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
4757.998 |
6205.387 |
|
|
Other Income |
|
456.484 |
278.556 |
|
|
TOTAL
|
|
5214.482 |
6483.943 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
2755.133 |
3554.731 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
19.587 |
44.258 |
|
|
Employees benefits expense |
|
466.762 |
541.892 |
|
|
Other expenses |
|
763.945 |
898.611 |
|
|
TOTAL |
|
4005.427 |
5039.492 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
1209.055 |
1444.451 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
0.276 |
15.924 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1208.779 |
1428.527 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
106.278 |
111.025 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
1102.501 |
1317.502 |
|
|
|
|
|
|
|
Less |
TAX |
|
382.305 |
458.242 |
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD BEFORE MINORITY INTEREST |
|
720.196 |
859.260 |
|
|
|
|
|
|
|
Share
of Profit (Loss) of Associates |
|
44.582 |
22.445 |
|
|
|
|
|
|
|
|
|
TOTAL
PROFIT (LOSS) FOR PERIOD |
|
764.778 |
881.705 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
135.46 |
156.17 |
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 |
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 |
BACKGROUND
Subject was incorporated in India on 30 July 2007.
The Company’s business consists of manufacturing of high quality Brake Pads for Vehicles. The Company’s unit situated at Sonepat (Haryana) is an Export Oriented Undertaking in terms of approval given by Noida Special Economic Zone. The Company is a closely held Company with 99.91% (Previous year 99.91%) of shares being held by MAT Holdings Inc., USA (the holding company) and balance 0.09% (Previous year 0.09%) shares being held by GRI Engineering & Development LLC, USA (a fellow subsidiary company).
PROJECTS
The Company is a subsidiary of MAT Holdings Inc., a U.S.A. based company and mainly engaged in manufacturing of Disk Brake Pads.
BUSINESS PERFORMANCE
It is the tenth year of operation of the Company and sales during the year is The 4758.000 Million during the year 2016-17.
The Company has incurred a good profit amounting to INR 720.170 Million during the year. The directors are continuously looking for avenues for future growth.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C64880727 |
10539194 |
YES BANK LIMITED |
15/09/2014 |
22/04/2015 |
- |
100000000.0 |
9TH Floor, Nehru Centre, Discovery of India Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
|
2 |
C36628782 |
10108414 |
HDFC BANK LIMITED |
23/05/2008 |
31/10/2014 |
- |
315000000.0 |
HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India |
|
3 |
B69510832 |
10348892 |
YES BANK LIMITED |
26/03/2012 |
- |
05/02/2013 |
200000000.0 |
9TH Floor, Nehru Centre, Discovery of India Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- 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 63.64 |
|
|
1 |
INR 89.32 |
|
Euro |
1 |
INR 78.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SWT |
|
|
|
|
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.