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|
%20LIMITED%20-%20488298%2031-Jan-2018_files/image015.jpg){kind=small}
%20LIMITED%20-%20488298%2031-Jan-2018_files/image016.jpg)
%20LIMITED%20-%20488298%2031-Jan-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
488298 |
|
Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
FEDERAL-MOGUL MOTORPARTS (INDIA) LIMITED (w.e.f. 04.02.2015) |
|
|
|
|
Formerly Known
As : |
FEDERAL-MOGUL VSP (INDIA) LIMITED (w.e.f.
16.06.2011) FEDERAL-MOGUL VSP (INDIA) PRIVATE LIMITED (w.e.f.
21.03.2011) FERODO INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
DLF Prime Towers, 10 Ground Floor, F-79 and 80, Okhla Phase - I, New Delhi – 110020 |
|
Tel. No.: |
91-11-49057597 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.02.1994 |
|
|
|
|
Com. Reg. No.: |
55-057419 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 326.127 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1994PLC057419 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF7004Q |
|
|
|
|
GSTIN : |
Not Divulged |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Company is engaged in Manufacturing of Commercial Vehicle Linings
which is being used in Automotive Companies. (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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly subsidiary of “Federal-Mogul Motorparts
(Singapore) Pte. Limited.” and was incorporated in the year 1994. For the financial year 2017, the company has achieved revenue growth
of 88.92% as compared to the previous year but has reported operational loss. The moderate financial risk profile is marked by declining reserve
base due to continuous operational loss. Rating takes into consideration equity infusion done by its promoters
along with negligible debt balance sheet profile due to unsecured debt
recorded in books. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Payments seems 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
|
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 31.01.2018
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 BY
|
Name : |
Mr. Venkateshwar |
|
Designation : |
Technical Department |
|
Contact No.: |
91-9092034142 / 143 |
|
Date : |
29.01.2018 |
LOCATIONS
|
Registered Office : |
DLF Prime Towers, 10 Ground Floor, F-79 and 80, Okhla Phase - I, New Delhi – 110020, India |
|
Tel. No.: |
91-11-49057597 |
|
Mobile No.: |
91-9092034142 / 143 (Mr. Venkateshwar) |
|
Fax No.: |
91-11-49057597 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
10th Floor, Paras Twin Towers, Tower-B, Sector-54, Golf Course Road, Gurugram – 122002, Haryana, India |
|
Tel. No.: |
91-124-4784530 |
|
Fax No.: |
91-124-4292840 |
|
|
|
|
Godown : |
No. G-4, Khasra No. 4/22, J.R. Complex, Gate No. 4, Mandoli, Delhi
110093, India |
|
|
|
|
Head Office : |
Plot No. 42, 8th Avenue, Anjur Village, O.T. Area, Mahindra World City, Chengalpet Taluk, Kamheepuram District – 603002, Tamilnadu, India |
|
Tel. No.: |
91-44-67416222 |
|
Fax No.: |
91-44-27460411 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vinod Kumar Hans |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
H. No. 3C/243, Faridabad - 121001, Haryana, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
10.05.1966 |
||||||||||||||||||||||||
|
Qualification : |
Masters |
||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2016 |
||||||||||||||||||||||||
|
PAN No.: |
AACPH7810H |
||||||||||||||||||||||||
|
DIN No.: |
03328309 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Dr. Khalid Iqbal Khan |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
2136 Mir Bukhari Street, Turkman Gate, Delhi – 110006, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
15.07.1968 |
||||||||||||||||||||||||
|
Qualification : |
Masters |
||||||||||||||||||||||||
|
Date of Appointment : |
08.05.2012 |
||||||||||||||||||||||||
|
PAN No.: |
AAZPK8805E |
||||||||||||||||||||||||
|
DIN No.: |
05253556 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Rayasam Venkataramaiah |
||||||||||||||||||||||||
|
Designation : |
Wholetime Director |
||||||||||||||||||||||||
|
Address : |
2B, Block 18, Silent Valley, Mukambigai Nagar, 1st Mudichur
Road, West Tambaram, Chennai – 600045, Tamilnadu, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
14.06.1963 |
||||||||||||||||||||||||
|
Qualification : |
BE and MBA |
||||||||||||||||||||||||
|
Date of Appointment : |
08.05.2012 |
||||||||||||||||||||||||
|
PAN No.: |
ACAPV3693G |
||||||||||||||||||||||||
|
DIN No.: |
05276853 |
||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Chandan Kumar Singh |
|
Designation : |
Chief Financial Officer |
|
Address : |
C-274/B, Om Enclave, Part-1, Faridabad – 121003, Haryana, India |
|
Date of Appointment : |
03.02.2015 |
|
PAN No.: |
CFOPS5703M |
|
|
|
|
Name : |
Ms. Iram Naaz |
|
Designation : |
Company Secretary |
|
Address : |
C-36, Okhla Vihar, Jamia, New Delhi – 110025, India |
|
Date of Appointment : |
01.03.2016 |
|
PAN No.: |
AWYPN4226B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Federal Mogul Motorparts Singapore Pte. Limited |
|
32611430 |
|
Federal-Mogul Motorparts Minority Holding B.Y. |
|
1265 |
|
Federal Mogul Motorparts Singapore Pte. Limited Jointly with Mr. Krishnan Purushqthaman |
|
1 |
|
Federal Mogul Motorparts Singapore Pte. Limited Jointly with Mr. Sanjeev KUMAR |
|
1 |
|
Federal Mogul Motorparts Singapore Pte. Limited Jointly with Mr. Kartik Gupta |
|
1 |
|
Federal Mogul Motorparts Singapore Pte. Limited Jointly with Mr. Pmtikattray |
|
1 |
|
Federal Mogul Motorparts Singapore Pte. Limited Jointly with Mr. Pradeep Gauram |
|
1 |
|
|
|
|
|
Total |
|
32612700 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
%20LIMITED%20-%20488298%2031-Jan-2018_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Company is engaged in Manufacturing of Commercial Vehicle
Linings which is being used in Automotive Companies. (Registered activity) |
||||||
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||||||
|
Products : |
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||||||
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||||||
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Brand Names : |
Not Divulged |
||||||
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||||||
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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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||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountants |
|
Address : |
L-41, Connaught Circus, New Delhi – 110001, India
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
|
|
|
|
|
Ultimate Holding
Company : |
(formerly known as Federal-Mogul Corporation) |
|
|
|
|
Fellow
Subsidiaries : |
U51109DL1998PLC195010
(formerly known as 'Federal-Mogul PTSB India Private Limited) U52100DL2008PTC179224
U74999HR2015FTC054552
L74899DL1954PLC002452
U34300DL1997PLC087410
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
INR 10/- each |
INR 550.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32612700 |
Equity Shares |
INR 10/- each |
INR 326.127
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees 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 |
326.127 |
326.127 |
208.652 |
|
(b) Reserves and Surplus |
299.006 |
342.773 |
41.682 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
625.133 |
668.900 |
250.334 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
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 |
1.891 |
2.073 |
1.512 |
|
Total Non-current
Liabilities (3) |
1.891 |
2.073 |
1.512 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
25.000 |
0.000 |
60.500 |
|
(b) Trade
payables |
22.613 |
7.224 |
7.904 |
|
(c) Other
current liabilities |
19.253 |
9.087 |
352.300 |
|
(d) Short-term
provisions |
0.280 |
0.242 |
0.179 |
|
Total Current
Liabilities (4) |
67.146 |
16.553 |
420.883 |
|
|
|
|
|
|
TOTAL |
694.170 |
687.526 |
672.729 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
591.758 |
590.974 |
611.785 |
|
(ii)
Intangible Assets |
0.115 |
0.170 |
0.221 |
|
(iii) Tangible assets
capital work-in-progress |
15.397 |
27.013 |
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 loans and advances |
6.493 |
5.308 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
613.763 |
623.465 |
612.006 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
12.007 |
6.496 |
4.593 |
|
(c) Trade
receivables |
38.994 |
18.704 |
5.982 |
|
(d) Cash and
bank balances |
5.381 |
11.619 |
8.400 |
|
(e)
Short-term loans and advances |
24.025 |
27.242 |
41.710 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.038 |
|
Total
Current Assets |
80.407 |
64.061 |
60.723 |
|
|
|
|
|
|
TOTAL |
694.170 |
687.526 |
672.729 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
134.581 |
71.239 |
60.728 |
|
|
Other Income |
1.091 |
6.860 |
0.543 |
|
|
TOTAL |
135.672 |
78.099 |
61.271 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
67.384 |
30.312 |
29.046 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.510) |
0.104 |
(0.735) |
|
|
Employee benefit expense |
28.861 |
23.016 |
20.315 |
|
|
Other expenses |
52.081 |
41.964 |
46.164 |
|
|
TOTAL |
146.816 |
95.396 |
94.790 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(11.144) |
(17.297) |
(33.519) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.754 |
3.073 |
14.771 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(11.898) |
(20.370) |
(48.290) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.868 |
30.964 |
28.479 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(43.766) |
(51.334) |
(76.769) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(43.766) |
(51.334) |
(76.769) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods based on ex-works basis |
47.832 |
0.911 |
NA |
|
|
TOTAL EARNINGS |
47.832 |
0.911 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw materials and consumables |
14.394 |
13.210 |
NA |
|
|
Components and spare
parts |
9.719 |
0.700 |
NA |
|
|
TOTAL IMPORTS |
24.113 |
13.910 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.342) |
(1.574) |
(2.354) |
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 |
313.238 |
|
Net cash flows from (used in) operations |
(21.230) |
(24.551) |
(33.411) |
|
Net cash flows from (used in) operating activities |
(21.701) |
(25.282) |
(33.454) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
105.76 |
95.83 |
35.95 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
3.45 |
3.81 |
10.15 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
122.49 |
86.99 |
99.32 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
(0.93) |
(2.66) |
(7.30) |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
(0.02) |
(0.03) |
(0.05) |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.10 |
0.02 |
1.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.04 |
0.00 |
1.49 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.11 |
0.02 |
1.68 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.97 |
0.92 |
2.44 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
(14.78) |
(5.63) |
(2.27) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
(32.52) |
(72.06) |
(126.41) |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
(6.30) |
(7.47) |
(11.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
(7.00) |
(7.67) |
(30.67) |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.20 |
3.87 |
0.14 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.02 |
3.48 |
0.13 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.90 |
0.97 |
0.37 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.08 |
0.00 |
1.79 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.20 |
3.87 |
0.14 |
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 |
208.652 |
326.127 |
326.127 |
|
Reserves & Surplus |
41.682 |
342.773 |
299.006 |
|
Net
worth |
250.334 |
668.900 |
625.133 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
60.500 |
0.000 |
25.000 |
|
Total
borrowings |
60.500 |
0.000 |
25.000 |
|
Debt/Equity
ratio |
0.242 |
0.000 |
0.040 |
%20LIMITED%20-%20488298%2031-Jan-2018_files/image022.gif)
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 |
60.728 |
71.239 |
134.581 |
|
|
|
17.308 |
88.915 |
%20LIMITED%20-%20488298%2031-Jan-2018_files/image024.gif)
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 |
60.728 |
71.239 |
134.581 |
|
Profit/ (Loss) |
(76.769) |
(51.334) |
(43.766) |
|
|
(126.41
%) |
(72.06
%) |
(32.52
%) |
%20LIMITED%20-%20488298%2031-Jan-2018_files/image026.gif)
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) |
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 |
SUMMARY OF OPERATIONS
The Income from Operations of the Company during the financial year ended 31st March, 2017 was INR 134580804 Million as against INR 71239050 Million for the financial year ended 31st March, 2016.
CORPORATE INFORMATION
The Company (formerly Federal-Mogul VSP (India) Limited) was incorporated in February 1994 and is engaged in manufacturing of Commercial Vehicle Linings which is being used in automotive companies. Federal-Mogul Motorparts Singapore Pte. Limited is the immediate parent company and ultimate parent company is Federal-Mogul LLC, United States of America. (formerly known as Federal -Mogul Corporation).
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
25.000 |
0.000 |
|
|
|
|
|
Total |
25.000 |
0.000 |
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G38681664 |
100084172 |
KOTAK MAHINDRA BANK LIMITED |
21/02/2017 |
- |
- |
50000000.0 |
Kotak Aerocity, IBIS Commercial Block Asset Area 9, Hospitality District, Delhi Aerocity, New Delhi – 110037, India |
|
2 |
G60882438 |
90056673 |
STANDARD CHARTERED BANK |
26/02/1997 |
26/02/1997 |
03/11/2017 |
70000000.0 |
17; Parliament Street, New Delhi, India |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Office equipment
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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 : |
GAY |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KJL |
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.