|
|
|
MIRA INFORM REPORT
|
Report No. : |
497902 |
|
Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
AISIN AUTOMOTIVE KARNATAKA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 106 (P), 107 and 108 (P), KIADB Industrial Area, Narasapura, Achhatanahalli Village, Kolar – 563133, Karnataka |
|
Mobile No.: |
91-9900021731 (Mr. Shaji) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation
: |
22.12.2011 |
|
|
|
|
Com. Reg. No.: |
08-061803 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 2569.800 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300KA2011FTC061803 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCA1856D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is primarily engaged in the business of manufacture and sale of automobile components for passenger cars. [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 : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Aisin Seiki Company Limited” based in Japan
and it was incorporated in the year 2011. As per financial of march 2017, the company has registered a growth of
67.16% in its revenue as compared to its previous years revenue but has
reported losses. Rating takes into consideration the company’s strong financial and
managerial support received from its holding entity and well experienced
management. However, rating weakness is partially offset by eroded net worth base
of the company. Payments seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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
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 16.03.2018
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 DENIED BY
|
Name : |
Mr. Shaji |
|
Designation : |
Manager |
|
Contact No.: |
91-9900021731 |
|
Date : |
16.03.2018 |
LOCATIONS
|
Registered Office: |
Plot No. 106 (P), 107 and 108 (P), KIADB Industrial Area, Narasapura, Achhatanahalli Village, Kolar – 563133, Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9900021731 (Mr. Shaji) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Manufacturing
facility: |
Narasapura Industrial Area, Kolar, Karnataka, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Hiroshi Suzuki |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||
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Address : |
Apart 407, Ooyamadakami 2-53 Ikeura-Cho,
Anjo Aichi 4460066 Japan |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.07.1965 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.07.2012 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05326338 |
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Other Directorship:
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|||||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Akira Nakamura |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Kariya Parkhomes, 202, 4-107, Kotobuki-Cho,
Kariya, Aichi 448-0856, Japan 4480856 Japan |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.04.1956 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.06.2016 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07445855 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Namasivayam Reguraj |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
539, 2nd Main, RMV 2nd Stage, 3rd Block, Bangalore
-560094, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.05.1941 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2014 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00279043 |
||||||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
ABFPR4867C |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mohan Kumar Govinda Varrier Karakkattu |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
A 203, 6 Crs, Poojari L/O RMV 2 Stg B,
Vaishnavi Splendour, Bangalore- 560094, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.09.2017 |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
02487408 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Ito Hirotoshi |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Nishi Machi Nisha 1-1 Chiryu City,
Aichi-Ken Chiryu City 000000 Japan |
||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
28.07.1965 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.07.2012 |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
05329608 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Makoto Mitsuya |
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|
Designation : |
Director |
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|
Address : |
2-174, Nozomi Gaoka Handa Aichi 4750019
Japan |
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|
Date of Birth/Age : |
20.06.1960 |
||||||||||||||||||||||||||||||||||||||||||||
|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.05.2016 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07522205 |
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Other Directorship:
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Kazuto Koyama |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
44-4, Azagohigashi Kugozaki-Cho, Okazaki
Aichi 4440851 Japan |
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|
Date of Birth/Age : |
28.07.1965 |
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|
Qualification: |
Graduate |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
26.05.2016 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07522208 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Iranna Nagappa Pattanshetti |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.33, 3rd Floor, Vidya Peetha Circle 1st
Stage , Banashankari, Bangalore -560050, Karnataka, India |
|
Date of Birth/Age : |
28.07.1981 |
|
Qualification: |
Graduate |
|
Date of Appointment : |
29.03.2016 |
|
PAN No.: |
AZGPP6793C |
|
|
|
|
Name : |
Mr. Shaji |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Aisin Seiki Co Limited, Japan |
139235000 |
93.45 |
|
Aisin Asia Pacific Co Limited, Thailand |
465000 |
0.31 |
|
Toyota Tsusho Corporation, Japan |
9300000 |
6.24 |
|
Total |
149000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.06.2017
|
Category |
Percentage |
|
Promoters- Body corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the business of manufacture and sale of automobile components for passenger cars. [Registered Activity] |
|
|
|
|
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 : |
Price Waterhouse LLP Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Millenia, 1&2, Murphy Road, Ulsoor, Bangalore -560 008, Karnataka, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFP3698A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
|
|
|
|
|
Fellow
Subsidiary Company: |
|
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
INR 10/- each |
INR 1500.000 Million |
|
37000000 |
1% Fully Compulsorily Convertible Cumulative Preference Shares |
INR 10/- each |
INR 370.000 Million |
|
236600000 |
1% Fully Compulsorily Convertible Cumulative Preference Shares |
INR 3/- each |
INR 709.800 Million |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
INR 2579.800
Million |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
149000000 |
Equity Shares |
INR 10/- each |
INR 1490.000 Million |
|
37000000 |
1% Fully Compulsorily Convertible Cumulative Preference Shares |
INR 10/- each |
INR 370.000 Million |
|
236600000 |
1% Fully Compulsorily Convertible Cumulative Preference Shares |
INR 3/- each |
INR 709.800 Million |
|
|
|
|
|
|
|
Total |
|
INR 2569.800
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 |
2569.800 |
2569.800 |
1860.000 |
|
(b) Reserves and Surplus |
(3679.010) |
(1520.638) |
(890.573) |
|
(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) |
(1109.210) |
1049.162 |
969.427 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1550.000 |
1540.000 |
1540.000 |
|
(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 |
9.204 |
7.333 |
6.518 |
|
Total Non-current
Liabilities (3) |
1559.204 |
1547.333 |
1546.518 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
255.401 |
211.064 |
275.063 |
|
(c) Other
current liabilities |
662.905 |
247.595 |
340.817 |
|
(d) Short-term
provisions |
2.054 |
1.514 |
1.989 |
|
Total Current
Liabilities (4) |
920.360 |
460.173 |
617.869 |
|
|
|
|
|
|
TOTAL |
1370.354 |
3056.668 |
3133.814 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
372.367 |
2089.966 |
1687.662 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
5.625 |
4.832 |
123.975 |
|
(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 |
257.340 |
294.922 |
135.586 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
635.332 |
2389.720 |
1947.223 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
185.703 |
227.457 |
148.943 |
|
(c) Trade
receivables |
279.501 |
233.493 |
179.824 |
|
(d) Cash and
bank balances |
188.759 |
154.241 |
704.227 |
|
(e)
Short-term loans and advances |
81.059 |
51.394 |
153.597 |
|
(f) Other
current assets |
0.000 |
0.363 |
0.000 |
|
Total
Current Assets |
735.022 |
666.948 |
1186.591 |
|
|
|
|
|
|
TOTAL |
1370.354 |
3056.668 |
3133.814 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
2461.077 |
1472.291 |
1777.681 |
|
|
Other Income |
43.454 |
7.382 |
66.261 |
|
|
TOTAL |
2504.531 |
1479.673 |
1843.942 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1723.175 |
1043.072 |
1264.577 |
|
|
Purchases of
Stock-in-Trade |
452.436 |
320.070 |
296.114 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
28.454 |
(90.788) |
(22.277) |
|
|
Employee benefit expense |
212.731 |
248.662 |
235.480 |
|
|
Other expenses |
1932.491 |
312.217 |
372.730 |
|
|
TOTAL |
4349.287 |
1833.233 |
2146.624 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
(1844.756) |
(353.560) |
(302.682) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
124.074 |
119.695 |
96.677 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1968.830) |
(473.255) |
(399.359) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
189.542 |
156.810 |
145.266 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(2158.372) |
(630.065) |
(544.625) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(2158.372) |
(630.065) |
(544.625) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
159.369 |
170.484 |
136.185 |
|
|
Other
Earning |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
159.369 |
170.484 |
136.185 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
469.846 |
492.666 |
468.838 |
|
|
Components and spare
parts |
43.031 |
117.405 |
7.263 |
|
|
Capital Goods |
55.118 |
441.786 |
20.046 |
|
|
TOTAL IMPORTS |
567.995 |
1051.857 |
496.147 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(5.11) |
(1.49) |
(1.29) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
390.000 |
0.000 |
0.000 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(247.478) |
(659.252) |
(391.099) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(251.112) |
(645.241) |
(398.386) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
41.45 |
57.89 |
36.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.81 |
6.31 |
9.89 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
42.85 |
56.52 |
64.33 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
(9.93) |
(1.55) |
(2.03) |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
(4.88) |
(0.17) |
(0.17) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
2.09 |
0.65 |
0.69 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(1.75) |
1.47 |
1.59 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(0.83) |
0.44 |
0.64 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.34) |
2.00 |
1.87 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
(14.87) |
(2.95) |
(3.13) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(87.70) |
(42.79) |
(30.64) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(157.50) |
(20.61) |
(17.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
194.59 |
(60.05) |
(56.18) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.80 |
1.45 |
1.92 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.60 |
0.96 |
1.68 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.81) |
0.34 |
0.31 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.75 |
0.60 |
0.83 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.80 |
1.45 |
1.92 |
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 |
1860.000 |
2569.800 |
2569.800 |
|
Reserves & Surplus |
(890.573) |
(1520.638) |
(3679.010) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
969.427 |
1049.162 |
(1109.210) |
|
|
|
|
|
|
Long-term borrowings |
1540.000 |
1540.000 |
1550.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
390.000 |
|
Total
borrowings |
1540.000 |
1540.000 |
1940.000 |
|
Debt/Equity
ratio |
1.589 |
1.468 |
(1.749) |
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 |
1777.681 |
1472.291 |
2461.077 |
|
|
|
(17.179) |
67.160 |
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 |
1777.681 |
1472.291 |
2461.077 |
|
Profit/ (Loss) |
(544.625) |
(630.065) |
(2158.372) |
|
|
(30.64
%) |
(42.79
%) |
(87.70
%) |
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 |
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
GENERAL INFORMATION
Subject was incorporated on December 22, 2011 under provisions of the Companies Act, 1956 and is primarily engaged in the business of manufacture and sale of automobile components for passenger cars. The Company has a manufacturing facility at Narasapura Industrial Area, Kolar and primarily sells its products in India. The Company has started commercial production in December, 2013.
ACHIEVEMENTS DURING
THE YEAR
The Indian economy in the current term grew, and the GDP growth averaged 7.6%. Domestic demand pulls economy due to economic structure reform by Modi government and reduction of the policy interest rate, domestic demand pulls economy.
The automotive market was up 8 percent compared with last year at 3.77 million units. The main reason for the increase were due to reduction of the interest rate of the automobiles loan by monetary easing and campaign of each car maker despite concern about the impact on consumption due to abolition of high-value banknotes.
The sales amount of the current term was 2,505 million rupees of 71% increase in comparison with last year (1,467million rupees). The sales volume for Toyota Kirloskar Motor, which is our main customer, jumped up because their new vehicles, such as Innova Crysta, Fortuner, launched during the period.
As for the profit, we tried cost reduction activity hard, but we booked the fixed assets impairment loss. Accordingly the net loss became 2,158 million rupees of 342% decrease in comparison with last year (630 million rupees deficit).
FUTURE BUSINESS
AKL has a target to get profit in FY2018. Therefore, all employees are working together to improve profitability mainly for the products, such as “Door Frame”, “Seat Track”, “Window Regulator” and “Pump”. Also, we will make efforts to establish partnership with Indian customers resulting in new business for Honda TCC, M&M W/P, and also push to incorporate our products in new vehicles.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loans from others |
1550.000 |
1540.000 |
|
Total |
1550.000 |
1540.000 |
FIXED ASSETS:
Tangible 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 64.94 |
|
|
1 |
INR 90.72 |
|
Euro |
1 |
INR 80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
VIV |
|
|
|
|
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.