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|
%2012-Mar-2017_files/image015.jpg){kind=small}
%2012-Mar-2017_files/image016.jpg)
%2012-Mar-2017_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
477364.2 |
|
Report Date : |
12.03.2017 |
IDENTIFICATION DETAILS
|
Name : |
DANA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.278, Village Mann Hinjewadi, Taluka Mulshi, Pune – 411057,
Maharashtra |
|
Tel. No.: |
91-20-30436000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
06.03.2000 |
|
|
|
|
Com. Reg. No.: |
11-015131 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 88.199 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999PN2000PTC015131 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
GSTIN/UIN: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD1873A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in a business manufacturing of designing and assembling of automobile axles, transfer cases and components for Off-highway and commercial vehicles. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
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 3100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a Joint Venture between “Dana World Trade Corporation”, United States and Dana Italia, SPA Arco, Italy. It was incorporated in the year 2000 and is a 2000 and is a manufacturer of automotive axels. For the financial year 2017, the company has achieved revenue growth of 7.32% as compared to the previous year along with an average profit margin of 4.40%. The sound financial risk profile is marked by healthy net worth base along with negligible debt balance sheet profile. Rating takes into consideration the subjects healthy Earnings Per Share of INR 27.48 against the Face Value of INR 10. Payments are reported to be usually 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 |
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 12.03.2017
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.
LOCATIONS
|
Registered Office : |
Survey No.278, Village Mann Hinjewadi, Taluka Mulshi, Pune – 411057,
Maharashtra, India |
|
Tel. No.: |
91-20-30436000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory / Branch Office: |
Plot No. 1, Sector – 12, IIE Pantnagar, Rudrapur – 263153, Uttarakhand, India |
|
|
|
|
Branch Office : |
29, Pune Nasik Highway, Village Akurli Milestone, Taluka Khed, Pune, Maharashtra, India |
|
|
|
|
Factories: |
Located at: · Pune · Chennai · Pantnagar |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Saket Sapra |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Flat No. B-801, Oxford Hallmark, Lane No. 7, Koregaon
Park, Pune – 411001, Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
14.09.1971 |
||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||
|
Date of Appointment : |
25.01.2013 |
||||||||||||||||||||||||
|
DIN No.: |
05154694 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Chandrakant Somabhai Patel |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
B-2/58 Safdarjung Enclave, New Delhi -110029, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
10.09.1939 |
||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||
|
Date of Appointment : |
05.04.2000 |
||||||||||||||||||||||||
|
DIN No.: |
00028753 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Marcus David King |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Room No 1801, No. 1225, Changle Road, Shanghai - 200031 |
||||||||||||||||||||||||
|
Date of Appointment : |
04.09.2014 |
||||||||||||||||||||||||
|
DIN No.: |
06947986 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Jeffrey Bernard Czerwinski |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
2856 Long View Dr Maumee OHIO 43537 United States |
||||||||||||||||||||||||
|
Date of Appointment : |
12.02.2015 |
||||||||||||||||||||||||
|
DIN No.: |
07053326 |
||||||||||||||||||||||||
KEY EXECUTIVE
|
Name : |
Mr. Manoj Agrawal |
|
Designation : |
Secretarial Consultants |
|
|
|
|
Name : |
KPRC & Associates |
|
Designation : |
Company Secretaries |
|
Address : |
Pune, Maharashtra, India |
MAJOR SHAREHOLDERS
AS ON 31.03.2016
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Dana World Trade Corporation, |
4819860 |
54.65 |
|
Dana Italia Spa, Arco |
4000000 |
45.35 |
|
|
|
|
|
Total |
8819860 |
100.00 |
%2012-Mar-2017_files/image020.gif)
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2016
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in a business manufacturing of designing and assembling of automobile axles, transfer cases and components for Off-highway and commercial vehicles. (Registered Activity) |
||||
|
|
|
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|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
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|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
FRN: |
301112E |
|
Address : |
Price Waterhouse, 7th Floor, Tower A - Wing 1, Business Bay, Airport Road, Yerwada,Pune-411006, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFP9359C |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Ultimate holding company: |
|
|
|
|
|
Enterprises exercising Significant influence: |
|
|
|
|
|
Fellow Subsidiaries with whom the Company has had
transactions during the year: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8819860 |
Equity Shares |
INR 10/- each |
INR 88.199 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 |
88.199 |
88.199 |
88.199 |
|
(b) Reserves and Surplus |
1012.020 |
769.612 |
646.939 |
|
(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) |
1100.219 |
857.811 |
735.138 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
620.000 |
620.000 |
620.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
10.440 |
13.766 |
13.896 |
|
(d) long-term
provisions |
43.510 |
47.765 |
35.259 |
|
Total Non-current
Liabilities (3) |
673.950 |
681.531 |
669.155 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term borrowings |
0.000 |
2.330 |
0.000 |
|
(b) Trade
payables |
1520.725 |
1283.849 |
929.097 |
|
(c) Other
current liabilities |
87.207 |
119.416 |
232.319 |
|
(d) Short-term
provisions |
29.378 |
26.890 |
24.535 |
|
Total Current
Liabilities (4) |
1637.310 |
1432.485 |
1185.951 |
|
|
|
|
|
|
TOTAL |
3411.479 |
2971.827 |
2590.244 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
359.937 |
225.568 |
222.378 |
|
(ii)
Intangible Assets |
0.000 |
21.974 |
116.168 |
|
(iii) Tangible assets
capital work-in-progress |
231.238 |
220.904 |
54.460 |
|
(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) |
76.877 |
80.016 |
62.813 |
|
(d)
Long-term loans and advances |
352.523 |
440.800 |
327.571 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1020.575 |
989.262 |
783.390 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
596.124 |
376.221 |
339.408 |
|
(c) Trade
receivables |
1058.348 |
1171.224 |
978.755 |
|
(d) Cash and
bank balances |
202.335 |
180.595 |
427.736 |
|
(e) Short-term
loans and advances |
533.754 |
254.083 |
59.623 |
|
(f) Other
current assets |
0.343 |
0.442 |
1.332 |
|
Total
Current Assets |
2390.904 |
1982.565 |
1806.854 |
|
|
|
|
|
|
TOTAL |
3411.479 |
2971.827 |
2590.244 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
5509.956 |
5134.150 |
4117.866 |
|
|
Other Income |
14.932 |
39.549 |
24.244 |
|
|
TOTAL |
5524.888 |
5173.699 |
4142.110 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
3693.913 |
3403.074 |
2703.610 |
|
|
Purchases of
Stock-in-Trade |
439.438 |
445.575 |
328.641 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(152.958) |
21.378 |
29.373 |
|
|
Employee benefit expense |
258.780 |
234.595 |
177.966 |
|
|
Other expenses |
741.260 |
564.371 |
540.271 |
|
|
Prior period items before tax |
0.000 |
75.378 |
90.523 |
|
|
TOTAL |
4980.433 |
4744.371 |
3870.384 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
544.455 |
429.328 |
271.726 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
87.416 |
86.609 |
86.577 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
457.039 |
342.719 |
185.149 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
94.082 |
157.381 |
153.076 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
362.957 |
185.338 |
32.073 |
|
|
|
|
|
|
|
Less |
TAX |
120.547 |
62.665 |
12.181 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
242.410 |
122.673 |
19.892 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2254.416 |
2135.767 |
2138.692 |
|
|
TOTAL EARNINGS |
2254.416 |
2135.767 |
2138.692 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
420.599 |
300.533 |
0.000 |
|
|
Capital Goods |
25.746 |
70.892 |
0.000 |
|
|
TOTAL IMPORTS |
446.345 |
371.425 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
27.48 |
13.91 |
2.26 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
20.063 |
45.079 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
471.100 |
115.455 |
292.040 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
371.260 |
45.148 |
202.407 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
70.11 |
83.27 |
86.76 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.21 |
4.38 |
4.21 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
134.29 |
121.76 |
111.84 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.91 |
1.14 |
0.80 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.92 |
0.92 |
0.69 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.67 |
0.71 |
0.70 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.58 |
0.78 |
0.84 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.49 |
1.67 |
1.61 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.54 |
0.55 |
0.53 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
6.23 |
4.96 |
3.14 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
4.40 |
2.39 |
0.48 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.11 |
4.13 |
0.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.03 |
14.30 |
2.71 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.46 |
1.38 |
1.52 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.10 |
1.12 |
1.24 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.32 |
0.29 |
0.28 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
7.26 |
7.57 |
7.03 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.46 |
1.38 |
1.52 |
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 |
88.199 |
88.199 |
88.199 |
|
Reserves & Surplus |
646.939 |
769.612 |
1012.020 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
735.138 |
857.811 |
1100.219 |
|
|
|
|
|
|
Long-term borrowings |
620.000 |
620.000 |
620.000 |
|
Short term borrowings |
0.000 |
2.330 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
45.079 |
20.063 |
|
Total
borrowings |
620.000 |
667.409 |
640.063 |
|
Debt/Equity
ratio |
0.843 |
0.778 |
0.582 |
%2012-Mar-2017_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 |
4117.866 |
5134.150 |
5509.956 |
|
|
|
24.680 |
7.320 |
%2012-Mar-2017_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 |
4117.866 |
5134.150 |
5509.956 |
|
Profit/ (Loss) |
19.892 |
122.673 |
242.410 |
|
|
0.48
% |
2.39
% |
4.40
% |
%2012-Mar-2017_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 |
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 |
Yes |
|
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL
INFORMATION
Subject is in a business of designing and assembling of automobile axles, transfer cases and components for Off-highway and commercial vehicles. The Company has its manufacturing facilities at Pune, Chennai and Pantnagar
REVIEW OF PERFORMANCE AND OPERATIONS:
ANALYSIS OF RESULTS FOR FINANCIAL YEAR ENDED ON
31ST MARCH 2017.
Performance:
During the year,
the company has reported net revenue from operation of INR 5509.956 Million
from the last year net revenue from operations of INR 5134.150 Million, which
shows remarkable growth achieved by the company. Improved micro economic
environment and political stability has helped in improving the revenue. The
company has made a profit after tax of INR 242.410 Million during the year
compared to INR 122.673 Million of profit during the financial year 2015-16.
Operations:
During the year,
the Company has designed and assembled automobile axles, transfer cases and
components for Off-highway and commercial vehicles. The company’s skilled
resources provided high quality and timely delivery to result in significant
cost benefits.
BUSINESS OUTLOOK:
The management of
the company is confident about reporting even better financial results in the
coming financial years. The Directors have taken and shall continue to
undertake rigorous and precise efforts and shall also adopt various strategies
and plans which would be advantageous and in the best interests of the company
to reap efficient results in the future years to come supplemented with the
Government of India’s thrust on Make in India’ the future looks promising and
full of growth opportunities. Further there has been no change in the nature of
business of the company.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM BORROWING |
|
|
|
Fully convertible debentures others |
620.000 |
620.000 |
|
SHORT TERM
BORROWING |
|
|
|
Term loans from banks |
0.000 |
2.330 |
|
Total |
620.000 |
622.330 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C13630322 |
10093616 |
HDFC BANK LIMITED |
29/12/2006 |
27/10/2010 |
25/07/2014 |
50000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WEST, MUMBAI MH 400013 IN |
|
2 |
C07794761 |
10357822 |
CITI BANK N.A. |
10/05/2012 |
- |
10/06/2014 |
400000000.0 |
1ST FLOOR, ONYX TOWERKOREGAON PARK PUNE MH 411001 IN |
FIXED ASSETS:
Tangible assets
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Office equipment
- Leasehold improvements
Intangible assets
- Goodwill
- Computer software
- Know-how
- Commercial contractual rights
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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
PRY |
|
|
|
|
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.