|
|
|
MIRA INFORM REPORT
|
Report No. : |
516989 |
|
Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
|
Name : |
MAKINO INDIA PRIVATE LIMITED (w.e.f. 05.10.2004) |
|
|
|
|
Formerly Known
As : |
MAKINO MACHINE TOOL ( |
|
|
|
|
Registered
Office : |
No. 11, |
|
Tel. No.: |
91-80-67419500 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
14.06.2001 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299KA2001PTC029127 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 30.904 Million |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM6536A |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Metal cutting and manufacturing technology, sale and export
of machine tools, CAM systems, FMS cutter and tool grinding machines and
other equipments. Makino's major product lines include Horizontal Machining
Centres, Vertical Machining Centres, Graphite Milling Machines, EDM's, Wire
Cut EDM's, Module MMC, Turnkey Solution and other machine tooling along with
System Engineering Services. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2001. It is a subsidiary Makino
Asia Pte Limited, Singapore. As per the financial records of
2017, the company has earned a favourable of 16.02% in its revenue as
compared to the previous year and has reported an average net profit margin
of 5.83%. The company possesses healthy financial position marked by sound net
worth base along with fair liquidity position. Rating takes into consideration the strength that the company derives
from its holding company and its experience management team. Business is active. Payment seems 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 (31.12.2017) |
Current Rating (01.04.2018) |
|
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
31-03-2018.
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 27.06.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (91-80-67419500/91-8067419500)
LOCATIONS
|
Registered Office / Head Office / Factory 1 / Sales and Service Office
1: |
No. 11, |
|
Tel. No.: |
91-80-67419500 |
|
Fax No.: |
91-80-28410748 / 67419523 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 / Sales and Service Office 2: |
192-B, Sector 4, IMT, Manesar (NCR Delhi), Gurugram – 122050, Haryana,
India |
|
Tel. No.: |
91-124-4652200 (Board) |
|
Fax No.: |
91-124-4652230 |
|
E-Mail : |
|
|
|
|
|
Factory 3 / Sales and Service Office 3 : |
Plot No. 25/26, F- Block, Rajangaon MIDC, Talika, Pune – 412210, |
|
E-Mail : |
|
|
|
|
|
Factory 4 / Sales and Service Office 4 : |
Office No.603, 6th Floor, Montreal Business Tower, Sr.No.272/3/4/5/6, Pallod Farms, Baner Road
Behind Mauli Petrol Pump, Pune, India |
|
|
|
|
Sales and Service Office 5: |
Unit 4, 4th Floor, |
|
E-Mail : |
|
|
|
|
|
Sales and Service Office 6 : |
Shop No. 43, Vasant Smruti, Thakur Complex, Kandivali (East), Mumbai –
400101, |
|
Tel. No.: |
91-22-42648484 / 28852456 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Dayananda Ayyapppa Biradar |
|
Designation : |
Wholetime Director |
|
Address : |
Basavashri, 179, 41st Main, 4th Cross Kas Officers Layout,
BTM 2nd Stage, Bangalore- 560068, Karnataka, India |
|
Date of Birth/Age : |
01.06.1955 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
03.05.2007 |
|
DIN No.: |
01479710 |
|
|
|
|
Name : |
Mr. Kumbakonam Subramaniam Sankaran |
|
Designation : |
Wholetime Director |
|
Address : |
32, Hert Ford Road Singapore 219400 |
|
Date of Birth/Age : |
23.06.1949 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
14.06.2001 |
|
DIN No.: |
02296912 |
|
|
|
|
Name : |
Mr. Ramakrishnan Srinivasan |
|
Designation : |
Director |
|
Address : |
24/13, Sam's Nest Ammani Ammal St Chennai -600028,
Tamilnadu, India |
|
Date of Appointment : |
19.07.2017 |
|
DIN No.: |
07906314 |
|
|
|
|
Name : |
Mr. Raghava Badhya Tenkanadiyur Vasudeva |
|
Designation : |
Director |
|
Address : |
2nd Main, 3rd 'A' Cross BSK 3rd Stage, 3rd Phase, 2nd
Block, Bangalore 560085, Karnataka, India |
|
Date of Birth/Age : |
14.04.1965 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
25.05.2006 |
|
DIN No.: |
00458887 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Makino Asia Pte Limited, Singapore |
|
3090449 |
|
Makino Resource Development Pte Limited, |
|
1 |
|
Total |
|
3090450 |
Equity Share Break up (Percentage of Total Equity)
AS ON 16.08.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Metal cutting and manufacturing technology, sale and
export of machine tools, CAM systems, FMS cutter and tool grinding machines
and other equipments. Makino's major product lines include Horizontal
Machining Centres, Vertical Machining Centres, Graphite Milling Machines,
EDM's, Wire Cut EDM's, Module MMC, Turnkey Solution and other machine tooling
along with System Engineering Services. [Registered Activity] |
||||||||
|
|
|
||||||||
|
Products / Services
: |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
Not Available |
||||||||
|
|
|
||||||||
|
Agencies Held : |
Not Available |
||||||||
|
|
|
||||||||
|
Exports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Imports : |
Not Divulged |
||||||||
|
|
|
||||||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Deloitte Haskin and Sells Chartered Accountants |
|
Address : |
Deloitte Centre Anchorage II, 100/2 Richmond Road, Bangalore – 560025, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Ultimate Holding company: |
|
|
|
|
|
Fellow Subsidiary Company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
INR 10/- each |
INR 45.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3090450 |
Equity Shares |
INR 10/- each |
INR 30.905 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
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 |
30.904 |
30.904 |
19.700 |
|
(b) Reserves and Surplus |
2064.875 |
1946.667 |
1009.721 |
|
(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) |
2095.779 |
1977.571 |
1029.421 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
215.329 |
232.333 |
811.873 |
|
(b) Deferred tax liabilities (Net) |
83.244 |
55.000 |
50.124 |
|
(c) Other long-term
liabilities |
25.497 |
15.834 |
11.711 |
|
(d) long-term
provisions |
6.958 |
5.624 |
5.539 |
|
Total Non-current
Liabilities (3) |
331.028 |
308.791 |
879.247 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
547.116 |
402.186 |
313.937 |
|
(c) Other
current liabilities |
376.993 |
416.920 |
510.192 |
|
(d) Short-term
provisions |
70.519 |
25.551 |
43.573 |
|
Total Current
Liabilities (4) |
994.628 |
844.657 |
867.702 |
|
|
|
|
|
|
TOTAL |
3421.435 |
3131.019 |
2776.370 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1600.747 |
1490.881 |
1303.709 |
|
(ii)
Intangible Assets |
6.893 |
8.362 |
10.644 |
|
(iii) Tangible assets
capital work-in-progress |
3.000 |
0.485 |
27.336 |
|
(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 |
41.348 |
32.705 |
20.221 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.100 |
|
Total Non-Current
Assets |
1651.988 |
1532.433 |
1362.010 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
801.722 |
637.393 |
573.017 |
|
(c) Trade
receivables |
384.082 |
271.391 |
303.157 |
|
(d) Cash and
bank balances |
470.321 |
556.999 |
441.129 |
|
(e)
Short-term loans and advances |
106.603 |
120.250 |
97.057 |
|
(f) Other
current assets |
6.719 |
12.553 |
0.000 |
|
Total
Current Assets |
1769.447 |
1598.586 |
1414.360 |
|
|
|
|
|
|
TOTAL |
3421.435 |
3131.019 |
2776.370 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2026.483 |
1746.636 |
1451.762 |
|
|
Other Income |
115.836 |
39.411 |
114.862 |
|
|
TOTAL |
2142.319 |
1786.047 |
1566.624 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
844.963 |
772.819 |
592.796 |
|
|
Purchases of
Stock-in-Trade |
411.115 |
294.290 |
238.863 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(99.531) |
(63.952) |
(37.753) |
|
|
Employee benefit expense |
355.548 |
316.875 |
311.634 |
|
|
CSR expenditure |
4.654 |
9.877 |
0.000 |
|
|
Other expenses |
385.090 |
354.945 |
310.101 |
|
|
TOTAL |
1901.839 |
1684.854 |
1415.641 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
240.480 |
101.193 |
150.983 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
4.938 |
35.858 |
7.009 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
235.542 |
65.335 |
143.974 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
84.558 |
75.853 |
81.790 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
150.984 |
(10.518) |
62.184 |
|
|
|
|
|
|
|
Less |
TAX |
32.775 |
4.876 |
24.190 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
118.209 |
(15.394) |
37.994 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
994.327 |
1009.721 |
NA |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
1112.536 |
994.327 |
NA |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
293.171 |
296.116 |
371.103 |
|
|
TOTAL EARNINGS |
293.171 |
296.116 |
371.103 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
490.287 |
447.076 |
419.028 |
|
|
Components and spare
parts |
253.270 |
175.230 |
103.225 |
|
|
Capital Goods |
41.094 |
84.384 |
57.781 |
|
|
TOTAL IMPORTS |
784.651 |
706.690 |
580.034 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
38.25 |
(4.98) |
12.29 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
53.832 |
19.435 |
77.795 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
123.228 |
(65.036) |
161.429 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
119.826 |
(79.237) |
145.331 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
69.18 |
56.71 |
76.22 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.28 |
6.44 |
4.79 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
158.98 |
137.57 |
137.78 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.30 |
0.16 |
0.26 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.15 |
0.07 |
0.11 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.37 |
0.35 |
0.63 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.13 |
0.13 |
0.86 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.47 |
0.43 |
0.84 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.77 |
0.76 |
1.30 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
48.70 |
2.82 |
21.54 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
5.83 |
(0.88) |
2.62 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
3.45 |
(0.49) |
1.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.64 |
(0.78) |
3.69 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.78 |
1.89 |
1.63 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.97 |
1.14 |
0.97 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.61 |
0.63 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.71 |
8.15 |
45.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.78 |
1.89 |
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 |
19.700 |
30.904 |
30.904 |
|
Reserves & Surplus |
1009.721 |
1946.667 |
2064.875 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1029.421 |
1977.571 |
2095.779 |
|
|
|
|
|
|
Long-term borrowings |
811.873 |
232.333 |
215.329 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
77.795 |
19.435 |
53.832 |
|
Total
borrowings |
889.668 |
251.768 |
269.161 |
|
Debt/Equity
ratio |
0.864 |
0.127 |
0.128 |
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 |
1451.762 |
1746.636 |
2026.483 |
|
|
|
20.311 |
16.022 |
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 |
1451.762 |
1746.636 |
2026.483 |
|
Profit/ (Loss) |
37.994 |
(15.394) |
118.209 |
|
|
2.62
% |
(0.88
%) |
5.83
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE: No Charges Exists for Company
PERFORMANCE REVIEW
The Directors have
noted to report to the members the increased performance of the company during
the year resulting in earning higher revenue. The Company has achieved a higher
income of INR 2142.319 Million for the year ended 31st March, 2017 as against
INR 1786.047 Million achieved during the previous year ended 31st March, 2016.
The Company has incurred a Net Profit of INR 118.209 Million for the year ended
31st March, 2016 as against Net (loss) of INR (15.394 Million) for the previous
year. The directors are confident that the pace of development set by the
company would continue in the coming years also.
STATE OF COMPANY’S AFFAIRS AND FUTURE OUTLOOK
GENERAL INFORMATION ABOUT THE COMPANY:
Makino India
Private Limited (Makino) is a wholly owned subsidiary of Makino Asia, Singapore
(A subsidiary of Makino Milling Machine Co., Ltd, Japan).
Makino Group are
the world leaders in metal cutting and manufacturing technology, sale and
export of machine tools, CAM systems, FMS cutter and tool grinding machines and
other equipments. Makino's major product lines include Horizontal Machining
Centres, Vertical Machining Centres, Graphite Milling Machines, EDM's, Wire Cut
EDM's, Module MMC, Turnkey Solution and other machine tooling along with System
Engineering Services.
Makino India is
headquartered in Bangalore with manufacturing facility and technology centre in
Bangalore. Makino has manufacturing and technology centres at Manesar, Gurgaon,
Ranjangaon, Pune and Coimbatore.
FUTURE PROSPECTS:
Despite of stiff
competition customer show preference to the company’s Products and services for
its quality and standard. Hence, the Directors are confident of achieving
better working results in the coming years. The company plans to take the
performance to the next level by modernization, installing high tech and time
saving equipments and supportive systems, improving quality of work by employee
training.
Expansion Project:
The expansion plan
by further investment in facility and technology upgradation and modern
equipment for increasing quality and standard of services are being
implemented, besides enabling productivity improvements in manufacturing area.
As a part of expansion, the Company has started construction of a new Technical
Centre at Chennai.
During the year entity has purchased Land at Bhosari Pune for building
new tech centre.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Other external commercial borrowings |
215.329 |
232.334 |
|
Total |
215.329 |
232.334 |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Vehicles
- Computer equipments
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No 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 68.52 |
|
|
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.