|
|
|
MIRA
INFORM REPORT
|
Report No. : |
499173 |
|
Report Date : |
23.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SEKISUI
DLJM MOLDING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2662, 1st Floor, Sadar Thana Road, Sadar Bazaar, Delhi-110006 |
|
Tel. No.: |
91-11-23556868 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
10.05.2011 |
|
|
|
|
Com. Reg. No.: |
20-218912 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200DL2011PTC218912 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Available |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
07AAPCS7814N1ZK |
|
|
|
|
TIN No: |
09466108257 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAPCS7814N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the
business of manufacturing of automobile components. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 1950000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Sekisui Chemical Co. Limited, Japan”. The
company was incorporated in the year 2011. The subject’s customer includes, Honda, Yamaha, Maruti Suzuki, Autoliv
etc. It is a manufacturer of Part and Accessories of Motor Vehicles. For the financial year, the company has achieved 18.70% growth in its
revenue as compared to previous year revenue and has reported average
profitability margin of 5.21% during the year under review. The sound financial profile of the company is marked by adequate
networth base along with strong debt coverage indicators due to low debt
balance sheet profile. Rating takes into consideration strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced management team. The company has favourable earning per share (EPS) of INR 1046.44
against a face value (FV) of INR 10. However, these rating strengths are partially offset by susceptibility
to volatility in demand min the two-wheeler segment. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for good 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 |
CRISIL |
|
Rating |
Long Term (A-) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
21.11.2017 |
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 23.03.2018
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.
LOCATIONS
|
Registered Office : |
2662, 1st Floor, Sadar Thana Road, Sadar Bazaar, Delhi-110006, India |
|
Tel. No.: |
91-11-23556868 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/ Factory 1 : |
Plot No. 237 to 240 and 255 to 258, Ecotech Phase-I Extension,
Greater Noida-201308, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2341215/216/217 |
|
|
|
|
Factory 2 : |
Plot No. SP-1 (A -1), RIICO Industrial Area, Tapukara,
Bhiwadi-II, Alwar-301707, Rajasthan, India |
|
|
|
|
Factory 3 : |
Plot No. VV-5, Sipcot Industrial Park, Vallam Vadakal,
Sriperumbudur Taluk, District Kanchipuram-602105, Tamilnadu, India |
|
|
|
|
Factory 4 : |
D-55, Phase-II, Extension, Noida-201305, Uttar Pradesh, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Dev Bhushan Jain |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
128, Vir Nagar, Jain Colony, Delhi-110007, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
12.12.1956 |
||||||||||||||||||||||||
|
Qualification : |
Bachelor of Commerce |
||||||||||||||||||||||||
|
Date of Appointment : |
11.06.2011 |
||||||||||||||||||||||||
|
PAN No.: |
AADPJ0590R |
||||||||||||||||||||||||
|
DIN No.: |
01620467 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Yogesh Jain |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
H - 142, Phase – I, Ashok Vihar, Delhi-110052, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
14.10.1974 |
||||||||||||||||||||||||
|
Qualification : |
Bachelor of Commerce |
||||||||||||||||||||||||
|
Date of Appointment : |
26.09.2011 |
||||||||||||||||||||||||
|
PAN No.: |
AAFPJ7712F |
||||||||||||||||||||||||
|
DIN No.: |
01629190 |
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|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Kazuhide Fujiwara |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
N-33, Third Floor, Jangpura Extension, New Delhi-110014, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
09.08.1961 |
||||||||||||||||||||||||
|
Qualification : |
Bachelor of Economic |
||||||||||||||||||||||||
|
PAN No.: |
ACRPF8946M |
||||||||||||||||||||||||
|
Date of Appointment : |
16.04.2016 |
||||||||||||||||||||||||
|
DIN No.: |
07493822 |
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|
|
||||||||||||||||||||||||
|
Name : |
Ryosuke Kusaka |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Plot No. 237 to 240 and 255 to 258, Ecotech Phase-I Extension, Greater Noida-201308, Uttar Pradesh, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
06.11.1971 |
||||||||||||||||||||||||
|
Qualification : |
Bachelor of Economic |
||||||||||||||||||||||||
|
PAN No.: |
EKBPK4209Q |
||||||||||||||||||||||||
|
Date of Appointment : |
01.08.2016 |
||||||||||||||||||||||||
|
PAN No.: |
EKBPK4209Q |
||||||||||||||||||||||||
|
DIN No.: |
07542895 |
||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ryosuke Kusaka |
|
Designation : |
Chief Executive Officer |
|
Address : |
Plot No. 237 to 240 and 255 to 258, Ecotech Phase-I Extension,
Greater Noida-201308, Uttar Pradesh, India |
|
Date of Birth/Age : |
06.11.1971 |
|
Qualification : |
Bachelor of Economic |
|
Date of Appointment : |
07.07.2016 |
|
PAN No.: |
EKBPK4209Q |
|
|
|
|
Name : |
Deepak and Associates |
|
Designation : |
Company Secretary |
|
Address : |
102, Time House, 5, Commercial Complex, Wazirpur Industrial Area, New Delhi – 110052, India |
|
Tel No: |
91-11-27373246/ 47092918 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Dipty lal Judge Mal Private Limited, India |
49000 |
49.00 |
|
Sekisui Chemical Company Limited, Japan |
51000 |
51.00 |
|
Total |
100000 |
100.00 |
AS ON 30.09.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters
– Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the
business of manufacturing of automobile components. (Registered Activity) |
||||||
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||||||
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Products/ Services : |
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||||||
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||||||
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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||||||
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Exports : |
Not Available |
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|
|
||||||
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Imports : |
Not Available |
||||||
|
|
|
||||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
· Honda · Denso · Yamaha · Autoliv · Harley-Davidson
|
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|
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|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited Banking Corporation Limited 25, Barakhamba Road, New
Delhi-110001, India |
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|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
KNM and Associates Chartered Accountants |
|
Address : |
E-004, Jhulelal Cghs, Road No. 44, Pitampura, New
Delhi-110034, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKFK8943J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company : |
Sekisui Chemical Co. Limited, Japan |
|
|
|
|
Fellow Subsidiary
company : |
· Sekisui Chemical India Private Limited, India [U24233DL2007FTC163675] · Sekisui Techno Molding Co., Limited, Japan |
|
|
|
|
Associate : |
Dipty Lal Judge Mal Private Limited, India [U74899DL1984PTC019552] |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Jaypee Cookeasy LLP · Jaypee Seiki Plastics Private Limited, India [U74899DL1986PTC023885] · Jaypee Spintex Limited, India [L18101DL1984PLC019725] |
|
|
|
|
Other Related Parties: |
Fujiwara Kazuhide, Japan |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000 |
Equity Shares |
INR 10/- each |
INR 1.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
INR 10/- each |
INR 1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves and Surplus |
682.360 |
602.079 |
498.929 |
|
(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) |
683.360 |
603.079 |
499.929 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
375.922 |
450.417 |
358.587 |
|
(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 |
1.393 |
0.907 |
0.602 |
|
Total Non-current
Liabilities (3) |
377.315 |
451.324 |
359.189 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
16.203 |
0.000 |
52.530 |
|
(b) Trade
payables |
151.988 |
129.965 |
86.297 |
|
(c) Other
current liabilities |
588.553 |
185.832 |
225.534 |
|
(d) Short-term
provisions |
136.249 |
132.859 |
60.366 |
|
Total Current
Liabilities (4) |
892.993 |
448.656 |
424.727 |
|
|
|
|
|
|
TOTAL |
1953.668 |
1503.059 |
1283.845 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
897.418 |
493.013 |
292.853 |
|
(ii)
Intangible Assets |
0.000 |
17.567 |
70.270 |
|
(iii) Tangible assets
capital work-in-progress |
13.022 |
77.811 |
249.209 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
265.010 |
227.149 |
160.010 |
|
(c) Deferred tax assets (net) |
9.980 |
32.907 |
8.110 |
|
(d)
Long-term loans and advances |
24.557 |
22.433 |
19.737 |
|
(e) Other
Non-current assets |
0.827 |
0.778 |
0.239 |
|
Total Non-Current
Assets |
1210.814 |
871.658 |
800.428 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
170.403 |
135.088 |
63.193 |
|
(c) Trade
receivables |
239.286 |
156.281 |
188.874 |
|
(d) Cash and
bank balances |
127.500 |
122.919 |
71.322 |
|
(e)
Short-term loans and advances |
200.562 |
216.353 |
159.754 |
|
(f) Other
current assets |
5.103 |
0.760 |
0.274 |
|
Total
Current Assets |
742.854 |
631.401 |
483.417 |
|
|
|
|
|
|
TOTAL |
1953.668 |
1503.059 |
1283.845 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1949.403 |
1642.297 |
1582.165 |
|
|
Other Income |
41.047 |
25.670 |
21.832 |
|
|
TOTAL |
1990.450 |
1667.967 |
1603.997 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1086.021 |
911.501 |
863.446 |
|
|
Purchases of
Stock-in-Trade |
7.538 |
2.385 |
2.449 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
5.741 |
(12.990) |
2.206 |
|
|
Employee benefit expense |
258.763 |
183.855 |
158.124 |
|
|
Other expenses |
239.783 |
213.291 |
202.945 |
|
|
TOTAL |
1597.846 |
1298.042 |
1229.170 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
392.604 |
369.925 |
374.827 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
39.046 |
38.672 |
23.911 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
353.558 |
331.253 |
350.916 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
165.001 |
180.428 |
157.783 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
188.557 |
150.825 |
193.133 |
|
|
|
|
|
|
|
Less |
TAX |
86.913 |
47.675 |
61.153 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
101.644 |
103.150 |
131.980 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
11.976 |
12.444 |
9.857 |
|
|
TOTAL EARNINGS |
11.976 |
12.444 |
9.857 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
12.139 |
12.873 |
18.432 |
|
|
TOTAL IMPORTS |
12.139 |
12.873 |
18.432 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
1016.44 |
1031.51 |
1319.80 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
298.784 |
29.598 |
71.315 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
659.623 |
339.059 |
418.739 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
640.032 |
266.587 |
364.033 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average
Collection Days [Sundry Debtors
/ Income * 365] |
|
44.80 |
34.73 |
43.57 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
8.15 |
10.51 |
8.38 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
50.73 |
51.91 |
36.38 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
2.30 |
2.74 |
5.93 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.43 |
0.63 |
0.61 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio
[(Borrowing + Current Liabilities) / Total Assets] |
|
0.80 |
0.62 |
0.67 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.01 |
0.80 |
0.97 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
1.31 |
0.74 |
0.85 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
1.33 |
0.98 |
1.22 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
10.05 |
9.57 |
15.68 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
5.21 |
6.28 |
8.34 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
5.20 |
6.86 |
10.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
14.87 |
17.10 |
26.40 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio
[Current Assets / Current Liabilities] |
|
0.83 |
1.41 |
1.14 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
0.64 |
1.11 |
0.99 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.35 |
0.40 |
0.39 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
690.91 |
480.02 |
482.43 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
0.83 |
1.41 |
1.14 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
498.929 |
602.079 |
682.360 |
|
Net
worth |
499.929 |
603.079 |
683.360 |
|
|
|
|
|
|
Long-term borrowings |
358.587 |
450.417 |
375.922 |
|
Short term borrowings |
52.530 |
0.000 |
16.203 |
|
Current maturities of
long-term debts |
71.315 |
29.598 |
298.784 |
|
Total
borrowings |
482.432 |
480.015 |
690.909 |
|
Debt/Equity
ratio |
0.965 |
0.796 |
1.011 |
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 |
1582.165 |
1642.297 |
1949.403 |
|
|
|
3.801 |
18.700 |
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 |
1582.165 |
1642.297 |
1949.403 |
|
Profit/ (Loss) |
131.980 |
103.150 |
101.644 |
|
|
8.34
% |
6.28
% |
5.21
% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 |
No |
|
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 |
STATE OF COMPANY’S
AFFAIR
The Company’s operations for the year ended March 31, 2017 resulted in Profits of INR 188.557 million before any taxes in comparison to the Profits of INR 150.825 Million for the last financial year.
BACKGROUND
Subject the Company was incorporated in India on May 10, 2011. The Company is engaged in the business of manufacturing of automobile components.
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from others |
0.000 |
363.175 |
|
Long-term maturities of finance lease obligations |
0.000 |
5.091 |
|
Term loans from banks |
318.869 |
0.000 |
|
Other external commercial borrowings |
3.958 |
0.000 |
|
Total |
322.827 |
368.266 |
INDEX OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G60565389 |
100131892 |
The Hongkong and Shanghai Banking Corporation Limited |
06/11/2017 |
- |
- |
6000000.0 |
25, Birla TowerBarakhamba RoadNew DelhiDL110001IN |
|
2 |
C42705483 |
10547475 |
The Hongkong and Shanghai Banking Corporation Limited |
15/01/2015 |
- |
- |
152000000.0 |
25, Barakhamba RoadNew DelhiDL110001IN |
|
3 |
C69748143 |
10547480 |
The Hongkong and Shanghai Banking Corporation Limited |
15/01/2015 |
10/11/2015 |
- |
152000000.0 |
25, Barakhamba RoadNew DelhiDL110001IN |
|
4 |
G73221129 |
10547644 |
The Hongkong and Shanghai Banking Corporation Limited |
05/02/2015 |
- |
14/12/2017 |
50000000.0 |
25, Barakhamba RoadNew DelhiDL110001IN |
|
5 |
C80721095 |
10600801 |
Bank of Baroda |
19/10/2015 |
- |
26/02/2016 |
600000.0 |
Sadar BazarNew DelhiDL110006IN |
|
6 |
C80717622 |
10560495 |
Bank of Baroda |
30/03/2015 |
- |
26/02/2016 |
800000.0 |
Sadar BazarNew DelhiDL110006IN |
|
7 |
C80716160 |
10303347 |
Bank of Baroda |
29/07/2011 |
24/12/2012 |
26/02/2016 |
279371000.0 |
Sadar BazarDelhiDL110006IN |
|
8 |
C80719420 |
10586736 |
Bank of Baroda |
05/08/2015 |
- |
26/02/2016 |
750000.0 |
Sadar BazarDelhiDL110006IN |
|
9 |
C80721558 |
10613341 |
Bank of Baroda |
01/01/2016 |
- |
26/02/2016 |
600000.0 |
Sadar BazarDelhiDL110006IN |
|
10 |
C80720162 |
10600799 |
Bank of Baroda |
19/10/2015 |
- |
26/02/2016 |
900000.0 |
Sadar BazarNew DelhiDL110006IN |
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 65.06 |
|
|
1 |
INR 92.06 |
|
Euro |
1 |
INR 80.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
MTN |
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.