|
|
|
MIRA INFORM REPORT
|
Report No. : |
496320 |
|
Report Date : |
14.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
HONDA MOTORCYCLE AND SCOOTER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Commercial Complex - II, Sector 49-50, Golf Course Extension Road, Gurugram – 122018, Haryana |
|
Tel. No.: |
91-124-2290011 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
22.03.2001 |
|
|
|
|
Com. Reg. No.: |
05-034649 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 3100.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35912HR2001PTC034649 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0599055405 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7467D |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
06AAACH7467D1ZO |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of Manufacturing, Sale and Trading of Motorcycles and Scooters. (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++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
Maximum Credit Limit : |
USD 130000000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly owned subsidiary of “Honda Motor Company Limited, Japan” incorporated in the year 2001 having fine track record. Management has failed to file its financials for the year 2017 with Registrar of Companies. For the financial year 2016, the company has achieved marginal growth in its revenue as compared to its previous year along and has achieved fair profit margin during the year. Ratings take into consideration the subject’s healthy financial profile on back of low financial leverage with favourable capital structure and comfortable liquidity position. Rating continues to derive strength are from company’s significant presence in Indian two wheeler market backed by strong brand appeal, wide distribution and service network and strong focus on rural markets with well experienced management team. However, rating strengths re partially offset by the exposure to intense competition and a modest presence in premium motorcycles segment and in the export market. Payments seems to be regular. In view of aforesaid, the subject 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 14.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED DENIED BY
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-124-2290911 / 19)
91-124-6712800 (RINGING)
LOCATIONS
|
Registered /
Corporate Office : |
Commercial Complex - II, Sector 49-50, Golf Course Extension Road, Gurugram – 122018, Haryana, India |
|
Tel. No.: |
91-124-2290911 / 19 / 6712800 / 6712984 |
|
Fax No.: |
91-124-6712999 |
|
E-Mail : |
mohit.bhola@honda2wheelersindia.com hiroyuki.sukegawa@honda2wheelersindia.com |
|
Website : |
|
|
|
|
|
FACTORIES : |
|
|
Manesar Factory : |
Plot No. 1, Sector-3, IMT Manesar, District Gurugram – 122050, Haryana, India |
|
Tel. No.: |
91-124-2290911–19 / 2290926 |
|
Fax No.: |
91-124-2290891 / 2290890 |
|
|
|
|
Tapukara Factory : |
Plot No. SPL-2(D), 2(E), 2(F), 2(G), Tapulkara Industrial Area, District Alwar – 301707, Rajasthan, India |
|
Tel. No.: |
91-1493-678200 / 678500 |
|
|
|
|
Narsapura Factory : |
Plot Nos 109 to 142, KIADB Narsapura Industrial Area, Karinayakanahalli Village, Kasba Hobli, Malur Taluk, District Kolar - 563130, Karnataka, India |
|
|
|
|
Vithalapur Factory
: |
T Poddar Industrial Park Vithalapur, Mandal Ahmedabad - 382120, Gujarat, India |
|
Tel. No.: |
|
|
Fax No.: |
91-2715-243099 |
|
|
|
|
REGIONAL OFFICES : |
|
|
East Regional
Office : |
1st Floor, Amar Jyoti Building, 10 Belvedre Road, Alipore, Kolkata – 700027, West Bengal, India |
|
Tel. No.: |
|
|
Fax No.: |
91-33-44013201 |
|
|
|
|
Central Regional
Office : |
Discovery Tower, A-17, Block A, Sector 62, Noida - 201309, Uttar Pradesh, India |
|
Tel. No.: |
91-120-6787100 |
|
Fax No.: |
91-120-6787199 |
|
|
|
|
North Regional
Office : |
A 105, 1st Floor, Iris Tech Park, Sector 48, Sohna Road, Gurugram - 122018, Haryana, India |
|
Tel. No.: |
91-124-6606900 |
|
Fax No.: |
91-124-6606999 |
|
|
|
|
South Regional
Office : |
Unit – 01, 1st Floor, West Wing, Golden Heights, 59th C Cross, 4th M Block, Rajajinagar, Bangalore - 560010, Karnataka, India |
|
Tel. No.: |
|
|
Fax No.: |
91-80-49690019 |
|
|
|
|
West Regional
Office : |
Plot No. 26, Survey No. 47, Vivek Nagar, Akurdi, Pune – 411035, Maharashtra, India |
|
Tel. No.: |
|
|
|
|
|
Zonal Offices : |
|
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Anupam Mohindroo |
|
Designation : |
Whole-time director |
|
Address : |
H - 34, South City - I, Gurugram, Haryana, India |
|
Date of Birth/Age : |
30.09.1960 |
|
Qualification : |
BE (Mechanical) |
|
Date of Appointment : |
03.04.2013 |
|
PAN No.: |
ABZPM9309C |
|
DIN No. : |
06544719 |
|
|
|
|
Name : |
Mr. Viswanathan Sridhar |
|
Designation : |
Whole-time director |
|
Address : |
# 303. Amber Court - 3, Essei Towers, M.G. Road, Gurugram – 122002, Haryana, India |
|
Date of Birth/Age : |
18.02.1964 |
|
Qualification : |
BE (Mechanical), PGDM |
|
Date of Appointment : |
03.04.2013 |
|
PAN No.: |
ABYPS8088B |
|
DIN No. : |
06544860 |
|
|
|
|
Name : |
Mr. Masaichi Kobayashi |
|
Designation : |
Whole-time Director |
|
Address : |
E-222, 22nd Floor, Park Heights, Park Place, DLF Phase V, Gurugram, Haryana, India |
|
Date of Birth/Age : |
20.06.1967 |
|
Qualification : |
Graduate – Bachelor of Arts |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
DKVPK8032A |
|
DIN No. : |
06855155 |
|
|
|
|
Name : |
Mr. Shunichi Eguchi |
|
Designation : |
Additional Director |
|
Address : |
1909-1200 Kikudomi, Koshi-Shi Kumamoto 861102, Japan |
|
Date of Appointment : |
01.04.2016 |
|
DIN No.: |
07479042 |
|
|
|
|
Name : |
Mr. Harbhajan Singh |
|
Designation : |
Additional Director |
|
Address : |
Flat No 703, Plot GH-7, Eevan Tara Apts, Sector – 43, Gurugram – 122002, Haryana, India |
|
Date of Appointment : |
09.04.2016 |
|
DIN No.: |
07483105 |
|
|
|
|
Name : |
Mr. Hiroyuki Sukegawa |
|
Designation : |
Wholetime Director |
|
Address : |
1-28-7 Heiwadai Nerima-Ku Tokyo 1770044, Japan |
|
Date of Birth/Age : |
22.11.1969 |
|
Date of Appointment : |
01.04.2017 |
|
DIN No.: |
07769741 |
|
|
|
|
Name : |
Mr. Minoru Kato |
|
Designation : |
Managing Director |
|
Address : |
2-11-13 Kasuga Cho Nerima Ku Tokyo 1770044, Japan |
|
Date of Birth/Age : |
17.12.1965 |
|
Date of Appointment : |
01.04.2017 |
|
DIN No.: |
07770935 |
|
|
|
|
Name : |
Mr. Hiromi Nitta |
|
Designation : |
Wholetime Director |
|
Address : |
F 301, Park Place Sector 54, DLF Phase V, Gurugram – 122003, Haryana, India |
|
Date of Birth/Age : |
11.02.1963 |
|
Date of Appointment : |
01.04.2017 |
|
DIN No.: |
07773504 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Kumar Chaubey |
|
Designation : |
Company Secretary |
|
Address : |
SRA - 46 B, Shipra Riviera Indrapuram, Ghaziabad – 201010, Uttar Pradesh, India |
|
Date of Appointment : |
19.02.2009 |
|
PAN No.: |
ADMPC7767P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
%age of holding |
|
Honda Motor Car Limited, Japan |
299999998 |
96.77 |
|
Asian Honda Motor Car Limited, Thailand |
10000002 |
3.23 |
|
|
|
|
|
Total |
310000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 04.08.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of Manufacturing, Sale and Trading of Motorcycles and Scooters. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
|
||||||
|
Products : |
Two wheelers |
||||||
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Countries : |
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||||||
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|
|
||||||
|
Imports : |
Not Divulged |
||||||
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||||||
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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 |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City, Phase II, Gurgaon, Haryana, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
|
|
|
|
|
Fellow Subsidiary Company : |
·
Honda Trading Corporation India Private Limited,
India U51909DL2005PTC135750
U51202HR2003PTC035129
U05004DL2007PTC169044
U34300DL2005PTC136703
U35914HR2006PTC036195
U34102UP2006FTC032370
·
Honda Trading Corporation, Japan
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
310000000 |
Equity Shares |
INR 10/- each |
INR 3100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
310000000 |
Equity Shares |
INR 10/- each |
INR 3100.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
3100.000 |
3100.000 |
3100.000 |
|
(b) Reserves and Surplus |
42724.800 |
32234.100 |
24707.000 |
|
(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) |
45824.800 |
35334.100 |
27807.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
637.600 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
651.100 |
595.000 |
516.300 |
|
(d) long-term
provisions |
1105.800 |
754.900 |
395.500 |
|
Total Non-current
Liabilities (3) |
2394.500 |
1349.900 |
911.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
22798.500 |
22668.600 |
19221.100 |
|
(c) Other
current liabilities |
5700.300 |
4381.600 |
3307.100 |
|
(d) Short-term
provisions |
704.400 |
598.500 |
459.300 |
|
Total Current
Liabilities (4) |
29203.200 |
27648.700 |
22987.500 |
|
|
|
|
|
|
TOTAL |
77422.500 |
64332.700 |
51706.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
28297.100 |
21363.300 |
22982.500 |
|
(ii)
Intangible Assets |
5454.300 |
4286.600 |
3329.500 |
|
(iii) Tangible assets
capital work-in-progress |
1380.100 |
3600.300 |
907.900 |
|
(iv)
Intangible assets under development |
0.000 |
153.400 |
215.500 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
2176.400 |
1618.000 |
626.800 |
|
(d)
Long-term loans and advances |
1753.900 |
3259.600 |
2250.300 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
39061.800 |
34281.200 |
30312.500 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4598.000 |
4948.000 |
3382.500 |
|
(c) Trade
receivables |
656.300 |
604.100 |
943.900 |
|
(d) Cash and
bank balances |
25461.100 |
18773.100 |
14417.800 |
|
(e)
Short-term loans and advances |
6856.900 |
5116.600 |
1976.600 |
|
(f) Other
current assets |
788.400 |
609.700 |
673.000 |
|
Total
Current Assets |
38360.700 |
30051.500 |
21393.800 |
|
|
|
|
|
|
TOTAL |
77422.500 |
64332.700 |
51706.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
178104.800 |
173784.200 |
143562.800 |
|
|
Other Income |
3167.200 |
2803.400 |
1861.800 |
|
|
TOTAL |
181272.000 |
176587.600 |
145424.600 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
124938.900 |
129671.900 |
108082.900 |
|
|
Purchases of
Stock-in-Trade |
219.100 |
323.900 |
360.500 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
977.100 |
(1473.400) |
(330.400) |
|
|
Employee benefit expense |
9318.600 |
7835.500 |
5989.800 |
|
|
CSR expenditure |
194.100 |
92.700 |
0.000 |
|
|
Other expenses |
21689.000 |
20623.300 |
16634.700 |
|
|
TOTAL |
157336.800 |
157073.900 |
130737.500 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
23935.200 |
19513.700 |
14687.100 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
23935.200 |
19513.700 |
14687.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8637.300 |
8455.000 |
7061.700 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
15297.900 |
11058.700 |
7625.400 |
|
|
|
|
|
|
|
Less |
TAX |
4807.200 |
3531.600 |
2267.300 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
10490.700 |
7527.100 |
5358.100 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD |
28730.800 |
21203.700 |
15845.600 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
39221.500 |
28730.800 |
21203.700 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
33.84 |
24.28 |
17.28 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
22413.800 |
18219.200 |
17690.100 |
|
Net cash flows from (used in) operating activities |
17571.500 |
14222.800 |
15743.500 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
1.34 |
1.27 |
2.40 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
271.38 |
287.67 |
152.10 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
66.49 |
63.65 |
64.69 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
5.21 |
3.94 |
4.34 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.68 |
0.66 |
0.54 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.39 |
0.43 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.01 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.64 |
0.78 |
0.83 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.77 |
0.83 |
0.99 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
0.00 |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
5.89 |
4.33 |
3.73 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
13.55 |
11.70 |
10.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
22.89 |
21.30 |
19.27 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.31 |
1.09 |
0.93 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
1.16 |
0.91 |
0.78 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.59 |
0.55 |
0.54 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.21 |
0.00 |
0.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
1.31 |
1.09 |
0.93 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
3100.000 |
3100.000 |
3100.000 |
|
Reserves & Surplus |
24707.000 |
32234.100 |
42724.800 |
|
Net worth |
27807.000 |
35334.100 |
45824.800 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
637.600 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
637.600 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.014 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
143562.800 |
173784.200 |
178104.800 |
|
|
|
21.051 |
2.486 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
143562.800 |
173784.200 |
178104.800 |
|
Profit/ (Loss) |
5358.100 |
7527.100 |
10490.700 |
|
|
3.73
% |
4.33
% |
5.89
% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
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 |
No |
|
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 |
NOTE: Registered office of the company has been
shifted from Plot No. 1, Sector-3, IMT Manesar, Gurugram – 122050,
Haryana, India to the present
address w.e.f. 17.08.2015
COMPANY’S PERFORMANCE
During the year the Company achieved the sales volume of 4.480 Million units as compared to 4.450 Million units in previous year. In terms of value the Company has been able to increase its sales turnover by 3% to INR 178104.800 Million from INR 173784.200 Million in previous year.
The profit before tax for the year stood at INR 15297.900 Million as compared to INR 11058.700 Million during the previous year. The net profit after tax for the year was INR 10490.700 Million as compared to INR 7527.100 Million during the previous year.
KEY PERFORMANCE
HIGHLIGHTS IN FY’15-16
- Posting 15 years of sustained growth; the Company crossed INR 4.000 million sales for 2nd year in a row.
- At 44.83 lac unit sales in FY’15-16, it was Company’s highest total sales ever in India
- Created another new high, the Company’s exports cross the INR 2.000 Million milestone for the first time in the history
- The Company ended the year with a Domestic market share of 26%, and an overall market share (Domestic and Exports) of 24%
- Today, every 7 seconds a new customer joins the growing Honda family which has crossed INR 24.800 million mark in India
- Retaining its market dominance in the automatic scooter segment, the iconic Activa was the No. 1 selling two-wheeler 7 times in FY 15-16
- India rode home on a Honda 2 Wheeler this festive season. Not only did the Company crossed the 1 million retail mark in 2 months but also recorded highest single day sales of INR 22.000 Million sales on Dhanteras.
CREATEED EXCITEMENT
WITH 15 NEW PRODUCTS
- In FY’2015-16, the Company committed and delivered a blitzkrieg of 15 new models, including flagship ‘Make-in-India’ CBR 650F launched at the RevFest 2015
- Providing a premium experience to discerning CBR 650F customers, an exclusive sales-service shop-in-shop network of elite ‘Wing World’ dealerships was also launched across 12 cities
- Heralding the era of fun-motorcycling in India, LIVO, CB Shine, CB Hornet 160R, the new CBR 150R and CBR 250R were also unveiled leading the fun revolution
- Even as the 110cc motorcycle market posted negative growth, LIVO sales crossed 1.5 lac mark within 9 months of launch and it is now among the Top 10 selling motorcycles in India
- The Company retained its market dominance in the automatic scooter segment and 125cc motorcycle segment
- Backed by its recent launches CB Hornet 160R and CB Unicorn 160, the Company emerged as the 2nd largest player in 150-200cc motorcycle
- segment with 26% market share gaining from its 4th position in FY’14-15
· CB Unicorn 160 emerged the fastest in its segment to complete 1 lac unit sales in just 7 months
- Disrupting Indian 2 Wheeler industry like never before, the Company created a new segment in FUN riding with NAVI - a revolutionary ‘new kind of ride’ providing unlimited possibilities and unmatched freedom. NAVI is first 100% Honda Rand D India model – from concept to commercial production.
- To cater to the social media savvy generation, exclusive mobile booking applications were created for new Honda products CB Hornet 160R and NAVi.
- The applications garnered overwhelming response with more than 150,000 downloads till date.
ACCOLADES AND
RECOGNITIONS
- Brand Excellence Award in Auto Sector (2 Wheeler).
- Reader’s Digest Trusted Brand 2015 (Gold) in 2wheeler category.
- Dream Neo was ranked highest among economy models as per J.D Power 2016 India Two-Wheeler Initial Quality Study.
- Honda has been recognized as a “Superbrand”, “Manufacturer of the Year” (Bike India awards).
- CBR 650F continued its winning momentum adding 2 more awards in its kitty. These include: “Bike of the Year – up to 1000cc’ (Bike India Awards), “Sport Tourer of the Year” (BBC Top Gear awards).
- Mr. Keita Muramatsu, President, CEO and Managing Director of the Company was also awarded for National Industrial Excellence by National Chambers of Commerce Industry of India
- LIVO was awarded the Bike of the Year (upto 125cc category) by Times Auto Zigwheels
- NDTV Car and Bike Show recognized Honda as the ‘Best of Show Two-wheeler’ at Auto Expo for the ‘FUN-tastic’ NAVI launch.
- The success and reliability of Dream Neo received a further validation when it adjudged the Best Economy Motorcycle in Initial Quality as per the Initial Quality Two-Wheeler Study (2WIQS), at the prestigious JD Power Asia Awards 2016. CB Shine (Economy Segment), CB Unicorn (Upper Executive Segment) and CB Unicorn 160 (Premium Segment); were recognized as best in category as per the Two-Wheeler Automotive Performance, Execution and Layout (2WAPEAL) Study.
VIGIL MECHANISM
POLICY
The Company is committed to the highest possible standards of ethical, moral and legal business conduct. In line with the Company’s commitment to open communication and transparency, the Vigil Mechanism has been established with the aim to provide an avenue for directors and associates to raise concerns. The mechanism provides for adequate safeguards against the victimization of persons. The policy aims at giving reassurance that the Complainant will be protected from reprisals or victimization. Anyone can report workplace malpractice without any fear of reprisal or action.
BACKGROUND AND OBJECTIVE:
Corporate Social Responsibility has been a part HMSI business. HMSI has been engaged in various means of CSR in the past whether it is a contribution in kind or in cash. Few of the activities where HMSI was engaged in the past are listed below:
(a) Vehicles Donated to ITI's, Police station and ORC;
(b) Sponsored Badminton Tournament Organized by HSIIDC for Enhancing Corporate Relations;
(c) Sponsored Football Tournament in nearby Villages;
(d) Donated to Haryana State Gymnastics Association;
(e) Supported in organizing the Annual Inter – School Japanese Language Festival;
(f) Donated parts of their bike model CBR 250R to BITS Pilani for research activities;
(g) Supported to Haryana State Kho-Kho Association;
(h) Installed Solar Street Lights at Nearby villages at Tapukara and Narsapura, where the Company is operating its 2nd and 3rd Factory;
(i) Supported 09th North India Body Building Championship;
(j) Adopted Safety Training parks at various places;
(k) Supported MSME DEFEXPO 2013 in Bangalore
(l) Blood Donation Camps Organized several times;
The Companies Act, 2013 has brought even greater emphasis on CSR with rules that provide guidance on minimum CSR spend, reporting mechanism, review structure and reporting to the shareholders of the company.
HMSI CSR Policy has been designed keeping in view the company’s business vision, its CSR vision and long term societal objective the company proposes to serve. HMSI CSR Policy document has been created with an objective to outline its CSR focus areas, review mechanism, execution process and reporting to the Management and the Board of Directors of the Company. A CSR Committee will be formed at the Board level which will oversee CSR agenda of the Company.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
637.600 |
0.000 |
|
|
|
|
|
Total |
637.600 |
0.000 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR THE COMPANY
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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
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.