|
|
|
MIRA INFORM REPORT
|
Report No. : |
498768 |
|
Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
FIAT INDIA AUTOMOBILES PRIVATE LIMITED (w.e.f. 19.01.2015) |
|
|
|
|
Formerly Known
As : |
FIAT INDIA AUTOMOBILES LIMITED (w.e.f. 05.11.2008) FIAT INDIA AUTOMOBILES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.B-19, M.I.D.C., Ranjangaon Industrial Area, Ranjangaon, Taluka
Shirur, Pune – 412210, Maharashtra |
|
Tel. No.: |
91-2138-672701 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
02.01.1997 |
|
|
|
|
Com. Reg. No.: |
11-130940 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR
24451.600 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28900PN1997PTC130940 |
|
|
|
|
IEC No.: [Import-Export
Code No.] |
0398020400 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF02175F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1716D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in the business of manufacture and sale of motor vehicles, powertrains / engines, spare parts etc. [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 : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between “FCA Italy S.P.A.” and
“Tata Motors Limited”. It is engaged in manufacturing of medium and heavy
commercial vehicles, buses, cars and engines. It owns and controls five
internationally renowned brands, fiat automobiles, Alfa Romeo automobiles and
fiat light commercial vehicles. For the financial year ended 2016, revenue of the company has declined
by 15.92% but has maintained decent profit margin of 9.13% during the year
under review. Rating takes into consideration company’s established track record of
business operations marked by its improved financial profile along with
adequate capital base and satisfactory debt coverage indicators. Rating also takes into account of strong financial and managerial
support that company receives from its holding entity backed by its well
experienced management team. Payments seems to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal business
dealings at usual trade terms and conditions. Note: As per the Registrar of Companies date of balance sheet (i.e.
financial filed) is shown as 31.03.2017 but documents related to financial
for the year 31.03.2017 are not available from any sources. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term borrowing: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
14.02.2018 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term borrowing: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest
credit risk. |
|
Date |
14.02.2018 |
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 20.03.2018.
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
Management Non-Cooperative (91-2138-672700/91-22-67293800)
91-2138-672701 – number is continuously ringing
LOCATIONS
|
Registered Office/ Factory : |
Plot No.B-19, M.I.D.C., Ranjangaon Industrial Area, Ranjangaon, Taluka
Shirur, Pune – 412210, Maharashtra, India |
|
Tel. No.: |
91-2138-672701/ 672700/ 232144/ 5/ 6/ 7 / 672756 |
|
Fax No.: |
91-2138-232143 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
300 Acer |
|
Location : |
Leased |
|
Locality : |
Industrial |
|
|
|
|
Corporate (Mumbai) Office: |
Corporate Park II, 5th Floor, Sion Trombay Road, Chembur, Mumbai –
400071, Maharashtra, India |
|
Tel. No.: |
91-22-67293800/ 25226329 |
|
Fax No.: |
91-22-25226325/ 25226326 |
|
|
|
|
Branch Office (Legal Department) : |
Kesar Solitare, Palm Beach Road, Plot No.05, Sector – 19, Sanpada,
Navi Mumbai – 400705, Maharashtra, India |
|
Location : |
Rented |
|
|
|
|
Factory : |
Located at: ·
Ranjangaon (Maharashtra) |
|
|
|
|
Warehouse : |
Located at: ·
Chakan |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Mayank Pareek |
|
Designation : |
Director |
|
Address : |
Flat No 103, Tower V, The Palms, South City-
I, Gurgaon - 122001, Haryana, India |
|
Date of Appointment : |
19.05.2015 |
|
DIN No.: |
00139206 |
|
|
|
|
Name : |
Roberto Grazioli |
|
Designation : |
Director |
|
Address : |
Via Beltrami Eugenio 1, 26100, Cremona Cr,
26100, Italy |
|
Date of Appointment : |
04.12.2015 |
|
DIN No.: |
07164337 |
|
|
|
|
Name : |
Mr. Anil Kumar Sinha |
|
Designation : |
Director |
|
Address : |
Flat No 403, Tower-10, Blue Ridge Housing Society,
Rajiv Gandhi Infotech Park, Hinjawadi, Pune - 411057, Maharashtra, India |
|
Date of Appointment : |
04.12.2015 |
|
DIN No.: |
07293068 |
|
|
|
|
Name : |
Alberto Ferrarotti |
|
Designation : |
Director |
|
Address : |
Corso Unione Sovietica 342 SC. B Torino 10135 IT |
|
Date of Appointment : |
01.06.2016 |
|
DIN No.: |
07470056 |
|
|
|
|
Name : |
Paul Francis Alcala |
|
Designation : |
Nominee Director |
|
Address : |
742 Charlotte Pl, Westfield IN 46074 United States |
|
Date of Appointment : |
21.03.2017 |
|
DIN No.: |
07761180 |
|
|
|
|
Name : |
Vijay Bhagwanji Somaiya |
|
Designation : |
Nominee Director |
|
Address : |
D-205, Palm Court Complex Link Road, Malad-West, Mumbai
-400064, Maharashtra, India |
|
Date of Appointment : |
29.01.2018 |
|
DIN No.: |
03185227 |
|
|
|
|
Name : |
Rajesh Gobindram Khatri |
|
Designation : |
Nominee Director |
|
Address : |
FL-A/1001, Waters Edge, 18/1/1, Vishal Nagar Pimple Nilakh, Pune -411027, Maharashtra, India |
|
Date of Appointment : |
29.01.2018 |
|
DIN No.: |
03620093 |
|
|
|
|
Name : |
Cesar Michelutti |
|
Designation : |
Nominee Director |
|
Address : |
Bianchi Mose N. 11 Milano NA Italy |
|
Date of Appointment : |
29.01.2018 |
|
DIN No.: |
07086567 |
KEY EXECUTIVES
|
Name : |
Mr. Gurpratap Singh Boparai |
|
Designation : |
Chief Executive Office and Manager |
|
Address : |
S 12, Konark Campus, Lohgaon, Viman Nagar, Pune – 411014, Maharashtra,
India |
|
Date of Birth/Age : |
28.09.1969 |
|
Qualification : |
B.E. PGDBM (F and M) |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
ABEPB8688E |
|
|
|
|
Name : |
Ackash Mital |
|
Designation : |
Chief Finance Officer |
|
Address : |
T5 / 1504, Sector R2, Amanora Park Town, Hadapsar, Pune –
411028, Maharashtra,
India |
|
Date of Appointment : |
19.06.2014 |
|
PAN No.: |
ADTPM3162H |
|
|
|
|
Name : |
Mr. Anil Ishwar Joshi |
|
Designation : |
Secretary |
|
Address : |
2/2, TELEC, Plot No. 30, Sector 17, Vashi, Navi Mumbai – 400703,
Maharashtra, India |
|
Date of Birth/Age : |
21.12.1961 |
|
Qualification : |
M.Com, LLB, ACA, ACS |
|
Date of Appointment : |
01.07.2005 |
|
PAN No.: |
AAFPJ6792D |
|
Voter ID No.: |
MT/10/057/0285281 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Fiat Group Automobiles S.p.A., Italy |
122257980 |
|
Alberto Sibille (As a nominee of Fiat Group Automobiles S.p.A, Italy) |
1 |
|
Tata
Motors Limited, India |
122257980 |
|
Tata
Motors Limited Jointly with Chandrasekaran Ramakrishnan |
1 |
|
Tata Motors Limited Jointly with H. K. Sethna |
1 |
|
Fiat Group Automobiles S.p.A. Jointly with Stefano Reganzani |
1 |
|
Tata
Motors Limited Jointly with A. S. Puri |
1 |
|
Fiat Group Automobiles S.p.A, Italy
Jointly with Andrea Faina |
1 |
|
|
|
|
Total |
244515966 |
Equity Share Break up (Percentage of Total Equity)
AS 28.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Foreign national (other than NRI) |
0.00000041 |
|
Promoters- Body corporate |
99.99999959 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the business of manufacture and sale of motor vehicles, powertrains / engines, spare parts etc. [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 : |
·
State Bank of India, Cag Branch, 3rd Floor,
Neville House, J N Heredia Marg, Ballard Estate, Mumbai - 400001,
Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells LLP Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3, 32nd Floor, S.B Marg, Elphinstone
(West), Mumbai – 400013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint venture (AS
ON 31.03.2016) |
· FCA Italy S.p.A · Tata Motors Limited, India [L28920MH1945PLC004520] |
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000000 |
Equity Shares |
INR 100/- each |
INR 40000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
244515966 |
Equity Shares |
INR 100/- each |
INR
24451.600 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR 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 |
24451.600 |
24451.600 |
24451.600 |
|
(b) Reserves and Surplus |
3349.470 |
206.680 |
(3798.300) |
|
(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) |
27801.070 |
24658.280 |
20653.300 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7902.970 |
8075.530 |
9927.820 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
1476.350 |
1197.450 |
|
(d) long-term provisions |
78.380 |
68.180 |
47.000 |
|
Total Non-current
Liabilities (3) |
7981.350 |
9620.060 |
11172.270 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
647.530 |
1517.610 |
3953.940 |
|
(b) Trade
payables |
2582.550 |
3158.270 |
4950.130 |
|
(c) Other
current liabilities |
11548.030 |
2960.530 |
4493.110 |
|
(d) Short-term
provisions |
266.020 |
172.660 |
33.180 |
|
Total Current
Liabilities (4) |
15044.130 |
7809.070 |
13430.360 |
|
|
|
|
|
|
TOTAL |
50826.550 |
42087.410 |
45255.930 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
21960.790 |
23959.560 |
24757.020 |
|
(ii)
Intangible Assets |
366.530 |
484.420 |
692.500 |
|
(iii) Tangible assets
capital work-in-progress |
3048.910 |
66.830 |
175.090 |
|
(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 |
3509.040 |
849.190 |
1970.990 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
247.920 |
|
Total Non-Current
Assets |
28885.270 |
25360.000 |
27843.520 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
10.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2044.850 |
2311.850 |
2380.900 |
|
(c) Trade
receivables |
8883.350 |
7141.520 |
8703.270 |
|
(d) Cash and
bank balances |
6670.370 |
5056.430 |
2077.590 |
|
(e)
Short-term loans and advances |
4247.330 |
2185.320 |
4029.450 |
|
(f) Other
current assets |
85.380 |
32.290 |
221.200 |
|
Total
Current Assets |
21941.280 |
16727.410 |
17412.410 |
|
|
|
|
|
|
TOTAL |
50826.550 |
42087.410 |
45255.930 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
34428.970 |
40951.520 |
37069.940 |
|
|
Other Income |
580.820 |
1872.620 |
578.600 |
|
|
TOTAL |
35009.790 |
42824.140 |
37648.540 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
24185.420 |
29589.540 |
25590.620 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(60.390) |
13.200 |
393.150 |
|
|
Employee benefit expense |
1521.200 |
1547.430 |
1270.280 |
|
|
CSR expenditure |
36.420 |
20.750 |
0.000 |
|
|
Other expenses |
2205.370 |
2388.120 |
3347.350 |
|
|
TOTAL |
27888.020 |
33559.040 |
30601.400 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
7121.770 |
9265.100 |
7047.140 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
714.980 |
1561.320 |
2023.670 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
6406.790 |
7703.780 |
5023.470 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2404.000 |
2648.800 |
2646.640 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
4002.790 |
5054.980 |
2376.830 |
|
|
|
|
|
|
|
Less |
TAX |
860.000 |
1050.000 |
210.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3142.790 |
4004.980 |
2166.330 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
722.160 |
1185.470 |
1139.770 |
|
|
TOTAL
EARNINGS |
722.160 |
1185.470 |
1139.770 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1321.080 |
2895.040 |
2524.620 |
|
|
Components and Stores parts |
11.530 |
38.040 |
119.290 |
|
|
Capital Goods |
411.750 |
30.902 |
42.830 |
|
|
TOTAL
IMPORTS |
1744.360 |
2963.982 |
2686.740 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (INR) |
|
|
|
|
|
- Basic |
12.85 |
16.38 |
9.46 |
|
|
- Diluted |
12.53 |
12.76 |
9.46 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
8098.070 |
2242.740 |
3563.090 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(39.520) |
6337.140 |
(6411.820) |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(787.640) |
6017.770 |
(6531.630) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
94.18 |
63.65 |
85.69 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.88 |
5.73 |
4.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
38.98 |
38.96 |
70.60 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
3.48 |
4.01 |
2.96 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.28 |
0.38 |
0.28 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.61 |
0.43 |
0.59 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.60 |
0.48 |
0.84 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.54 |
0.32 |
0.65 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.91 |
0.99 |
1.24 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
9.96 |
5.93 |
3.48 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
9.13 |
9.78 |
5.84 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.18 |
9.52 |
4.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
11.30 |
16.24 |
10.49 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.46 |
2.14 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.32 |
1.85 |
1.12 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.55 |
0.59 |
0.46 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.68 |
0.48 |
0.71 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.46 |
2.14 |
1.30 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
24451.600 |
24451.600 |
24451.600 |
|
Reserves & Surplus |
(3798.300) |
206.680 |
3349.470 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
20653.300 |
24658.280 |
27801.070 |
|
|
|
|
|
|
Long-term borrowings |
9927.820 |
8075.530 |
7902.970 |
|
Short term borrowings |
3953.940 |
1517.610 |
647.530 |
|
Current maturities of
long-term debts |
3563.090 |
2242.740 |
8098.070 |
|
Total
borrowings |
17444.850 |
11835.880 |
16648.570 |
|
Debt/Equity
ratio |
0.845 |
0.480 |
0.599 |
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 |
37069.940 |
40951.520 |
34428.970 |
|
|
|
10.471 |
(15.927) |
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 |
37069.940 |
40951.520 |
34428.970 |
|
Profit/ (Loss) |
2166.330 |
4004.980 |
3142.790 |
|
|
5.84
% |
9.78
% |
9.13
% |
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 |
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 |
Yes |
|
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 |
CORPORATE INFORMATION (AS ON 31.03.2016)
The Company was incorporated on the 2nd day of January, 1997, as a Private Limited company under the name 'Fiat India Automobiles Private Limited'. On 14th July 1998, the Company became a deemed public company and a fresh certificate of incorporation consequent to its change of status as a deemed public company was issued on 14th July, 1998. On 8th August, 2001, the Company was converted into a private company and the certificate of incorporation was amended accordingly. On 5th November, 2008, the Company was converted into a public company and certificate of incorporation was amended accordingly.
Again on 19th January, 2015 the company was converted into a private company and the certificate of incorporation was amended accordingly. The Company is engaged in the business of manufacture and sale of motor vehicles, powertrains / engines, spare parts etc. The manufacturing facility of the Company is located at Ranjangaon, Maharashtra.
OPERATIONS OVERVIEW (AS ON 31.03.2016)
The year was challenging - Car production was lower by about 7% compared to 2014-15 and Engine production was also lower by about 42% compared to 2014-15. During the year 25,984 engines were supplied to Maruti Suzuki India Limited which was lower by 56% compared last year though your Company continued to be rated high on customer satisfaction rating from Maruti Suzuki India Limited. Transmissions production however recorded a growth of about 10% compared to 2014-15. Due to lower volumes, your Company continued with rationalization measures in respect of working days and shift timings that yielded increased production efficiency and cost savings due to improvement in working capital management. During the year, your company launched the planned models of Fiat Avventura 135 HP; Fiat Abarth 135 HP and Tata BOLT besides introducing 1.4 16v T-Jet 135 HP Engine and C 549/2112 transmissions during the year. The Powertrain Division of your company has initiated the development of a new Family B Engine using WPI methodology. Production of Gamma Engines was started in June 2016 and Start of Production is expected to commence by the third week of April, 2017.
In respect of the new 556 and X104 Projects being implemented, your Company completed Body Shop expansion work and installation of necessary equipment by July end. The existing SC04 BIW was moved to 178 Plant in a record time of 4 weeks. The Paint Shop expansion work has also been completed with facilities of two tone painting and cavity waxing. Assembly Shop expansion work has also been completed and all equipment has been installed and commissioned for regular production.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2016 |
As
on 31.03.2015 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from others |
0.000 |
5283.490 |
|
Total |
0.000 |
5283.490 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2016 INR
In Million |
31.03.2015 INR
In Million |
|
|
|
|
|
Excise duty |
4577.560 |
4043.700 |
|
Service tax claim disputed by the Company relating to issues of inappropriate availment of cenvat credit on invoices of service provider. |
5.470 |
8.880 |
|
VAT -disallowance of set off disputed by the Company |
5.900 |
0.000 |
|
Income tax - TDS claims in respect of which the Company is in appeal |
0.000 |
2.910 |
|
Competition Commission - penalty matter |
299.800 |
299.800 |
|
Other claims against the Company not acknowledged as debts (Consumer related matters) |
118.120 |
109.57 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G72358393 |
100090706 |
SBICAP TRUSTEE
COMPANY LIMITED |
19/04/2017 |
02/01/2018 |
- |
18225000000.0 |
202 MAKER
TOWER-ECUFFE PARADEMUMBAIMH400005IN |
|
2 |
G30340046 |
100066833 |
SBICAP TRUSTEE
COMPANY LIMITED |
28/11/2016 |
- |
- |
2000000000.0 |
202 MAKER TOWER -
'E', WEST WING,DINSHAW WACHHA ROAD, CHURCHGATEMUMBAIMH400005IN |
|
3 |
C69325553 |
10600978 |
SBICAP TRUSTEE
COMPANY LIMITED |
30/10/2015 |
- |
- |
16225000000.0 |
202 MAKER TOWER - 'E',
WEST WING,DINSHAW WACHHA ROAD, CHURCHGATE,MUMBAIMH400005IN |
|
4 |
G36409001 |
10169906 |
STATE BANK OF
INDIA |
29/07/2009 |
20/02/2017 |
- |
6000000000.0 |
CAG BRANCH, 3RD
FLOOR, NEVILLE HOUSE,J N HEREDIA MARG, BALLARD ESTATE,MUMBAIMH400001IN |
|
5 |
G44623080 |
10523444 |
STATE BANK OF
INDIA |
26/09/2014 |
- |
24/05/2017 |
1750000000.0 |
CORPORATE ACCOUNTS
GROUP (CAG) - MUMBAI, 3RD FLOORNEVILLE HOUSE, J. N. HEREDIA MARG, BALLARD
ESTATEMUMBAIMH400001IN |
|
6 |
G08241820 |
10169905 |
STATE BANK OF
INDIA |
29/07/2009 |
31/07/2014 |
30/06/2016 |
8819200000.0 |
CORPORATE ACCOUNTS
GROUP - MUMBAI, NEVILLE HOUSE,3RD FLOOR, 23, J. N. HEREDIA MARG, BALLARD
ESTATE,MUMBAIMH400001IN |
|
7 |
C11150075 |
10169903 |
STATE BANK OF
INDIA |
29/07/2009 |
- |
14/07/2014 |
10000000000.0 |
CORPORATE ACCOUNTS
GROUP, VOLTAS HOUSE,23, J. N. HEREDIA MARG, BALLARD ESTATE,MUMBAIMH400001IN |
FIXED ASSETS:
Tangible assets
· Land
· Furniture and fixtures
· Office equipment
· Computer equipments
· Leasehold improvements
· Vehicles
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 65.04 |
|
|
1 |
INR 90.56 |
|
Euro |
1 |
INR 79.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
KVT |
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.