|
|
|
MIRA INFORM REPORT
|
Report No. : |
507956 |
|
Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
MUNJAL KIRIU INDUSTRIES PRIVATE LIMITED (w.e.f. 27.08.2007) |
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|
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Formerly Known
As : |
HERO KIRIU INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Plot No 192, Sector-4, Phase-II, IMT Manesar, Gurugram – 122050, Haryana |
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Tel. No.: |
91-124-4754400 / 40511600 / 700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
27.07.2007 |
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|
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Com. Reg. No.: |
55-166351 |
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|
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Capital
Investment / Paid-up Capital : |
INR 78.154 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34200HR2007PTC073642 |
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TIN No.: |
06161925802 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAFCM1839D |
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|
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GSTN : [Goods & Service Tax
Registration No.] |
06AAFCM1839D1ZQ |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
(Registered Activity) |
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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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 5200000 |
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|
|
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Status : |
Excellent |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a joint venture between “Hero Motors Limited” and Kiriu Corporation, Japan” incorporated in the year 2007 having fine track record. It is engaged in manufacturing of ferrous casting for automotive and consumer durable industry and also manufactures brake disc, drums, knuckles, and other automotive parts for OEMs As per the available financials of 2017, the company has achieved fair growth in its revenue as compared to its previous year and has shown improvement in its profitability margin during the year. Rating takes into consideration, the healthy business position marked by its strong net worth base and comfortable debt protection metrics. Rating continue to derive strength from the company’s strong parentage being a joint venture between “Hero Motors Limited” and Kiriu Corporation, Japan” that offers its support in the form of technical and operational guidance as well as financial support. Further, the company has manage to secure many share of the business with the leading Japanese OEMs such as Suzuki, Nissan, Toyota and Honda. However, these rating strengths gets partially offset by non-availability of latest financials and high capital intensity of operation which suppresses the return indicators. Payments are seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
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 |
ICRA |
|
Rating |
Long term rating = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
04.12.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating = A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
04.12.2017 |
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
31-03-2018.
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 14.05.2018
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
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-124-4754400)
91-11-40511600 (NOT WORKING)
91-11-40511700 (CONTINUALLY RINGING)
LOCATIONS
|
Registered Office : |
Plot No 192, Sector IV, Phase II, IMT Manesar, Gurugram – 122050,
Haryana, India |
|
Tel. No.: |
91-124-4754400 / 40511600 / 700 |
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Fax No.: |
91-124-4754488 |
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E-Mail : |
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Website : |
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Gujarat Office : |
Plot # 53 and 54, Mandal Industries Estate, Japanese Park Vithalapur, Ahmedabad - 382130, Gujarat, India |
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Tel. No.: |
91-2715-661333 |
DIRECTORS
As on 31.03.2018
|
Name : |
Mr. Pankaj Munjal |
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Designation : |
Director |
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Address : |
B-5, Greater Kailash-I, New Delhi – 110048, India |
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Date of Birth/Age : |
15.12.1962 |
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Qualification.: |
Graduate |
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Date of Appointment : |
27.07.2007 |
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PAN No.: |
ABMPM8660M |
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DIN No.: |
00005330 |
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Other Directorship:
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Name : |
Mr. Tarun Vohra |
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Designation : |
Nominee Director |
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Address : |
K- 113, Hauz Khas, New Delhi -110016, India |
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Date of Appointment : |
22.06.2015 |
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DIN No.: |
00030470 |
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Other Directorship:
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Name : |
Mr. Makoto Yoshimoto |
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Designation : |
Nominee Director |
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Address : |
1-25-2801 Ouno Cho, Kanagawa Yokohama 2210055 Japan |
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Date of Appointment : |
23.03.2015 |
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DIN No.: |
07132916 |
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Name : |
Mr. Eiichi Tanimura |
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Designation : |
Managing Director |
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Address : |
11A, Tower-11, Belgravia Towers, Central Park-2, Resorts, Sohna Road, Gurugram- 122001, Haryana, India |
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Date of Appointment : |
01.04.2017 |
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DIN No.: |
07718111 |
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Name : |
Mr. Ryusuke Hosomi |
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Designation : |
Additional Director |
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Address : |
301-3-39-23 Nozawa, Setagaya, Tokyo 1540003 Japan |
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Date of Birth/Age : |
04.12.1969 |
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Date of Appointment : |
11.12.2017 |
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DIN No.: |
07987727 |
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KEY EXECUTIVES
|
Name : |
Mr. Bhawnesh V. Vij |
|
Designation : |
Chief Finance Officer |
|
Address : |
C-50/X4, Dilshad Garden, New Delhi- 110095, India |
|
Date of Birth/Age : |
02.05.1964 |
|
Qualification.: |
Graduate |
|
Date of Appointment : |
20.06.2014 |
|
PAN No.: |
AAKPV3003E |
|
|
|
|
Name : |
Mr. Kannan Saravanan |
|
Designation : |
Chief Executive Officer |
|
Address : |
Flat No. 202, Sheeba Group Housing Society Limited, Plot No. Gh-01, Sector-28, Gurugram - 122009, Haryana, India |
|
Date of Appointment : |
20.06.2014 |
|
PAN No.: |
ANFPK8667B |
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|
|
|
Name : |
Shikha Verma |
|
Designation : |
Company Secretary |
|
Address : |
1520, Sector-4 Urban Estate, Gurugram -122001, Haryana, India |
|
Date of Appointment : |
06.07.2015 |
|
PAN No.: |
AEFPV1799G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Hero Cycles Limited |
3829527 |
|
Kiriu Corporation, Japan |
3378871 |
|
Sumitomo Corporation, Japan |
122839 |
|
Sumitomo Corporation India Private Limited |
484125 |
|
Total |
7815362 |
Equity Share Break up (Percentage of Total Equity)
As on 19.06.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
(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 : |
Not Divulged |
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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 : |
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Facilities : |
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Auditors : |
|
|
Name : |
BSR and Associates LLP Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower B, DLF Cyber City, Phase II, Gurugram- 122002, Haryana, India |
|
Tel No.: |
91-124-2358610 |
|
Mobile No.: |
91-124-2358613 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACEPB0360J |
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|
|
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Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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|
|
|
Joint Venture/ Enterprises: Companies having control / significant influence and where
transactions have taken place:: |
|
|
|
|
|
Enterprises over which key management personnel or their relatives
have significant influence: |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7815362 |
Equity Shares |
INR 10/- each |
INR 78.154 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 |
78.154 |
78.154 |
69.972 |
|
(b) Reserves & Surplus |
1725.128 |
1386.214 |
836.481 |
|
(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) |
1803.282 |
1464.368 |
906.453 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1239.749 |
1163.838 |
1552.573 |
|
(b) Deferred tax liabilities
(Net) |
9.510 |
5.125 |
0.000 |
|
(c) Other long term
liabilities |
31.848 |
0.000 |
0.000 |
|
(d) long-term provisions |
24.628 |
16.467 |
12.757 |
|
Total
Non-current Liabilities (3) |
1305.735 |
1185.430 |
1565.330 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
288.881 |
51.864 |
322.830 |
|
(b) Trade payables |
288.263 |
224.946 |
303.444 |
|
(c) Other current liabilities |
537.089 |
514.243 |
396.322 |
|
(d) Short-term provisions |
9.565 |
23.665 |
15.704 |
|
Total
Current Liabilities (4) |
1123.798 |
814.718 |
1038.300 |
|
|
|
|
|
|
TOTAL |
4232.815 |
3464.516 |
3510.083 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2711.740 |
2616.932 |
2766.592 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
1.026 |
|
(iii) Capital work-in-progress |
105.927 |
42.832 |
12.669 |
|
(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 Loan and Advances |
14.332 |
13.990 |
15.332 |
|
(e) Other Non-current assets |
110.334 |
14.757 |
2.071 |
|
Total
Non-Current Assets |
2942.333 |
2688.511 |
2797.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
300.144 |
178.363 |
194.014 |
|
(c) Trade receivables |
561.861 |
502.987 |
411.399 |
|
(d) Cash and cash equivalents |
334.734 |
6.709 |
21.624 |
|
(e) Short-term loans and
advances |
2.678 |
2.850 |
76.395 |
|
(f) Other current assets |
91.065 |
85.096 |
8.961 |
|
Total
Current Assets |
1290.482 |
776.005 |
712.393 |
|
|
|
|
|
|
TOTAL |
4232.815 |
3464.516 |
3510.083 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
3343.402 |
3013.803 |
2477.876 |
|
|
Other Income |
42.118 |
11.749 |
3.365 |
|
|
TOTAL
|
3385.520 |
3025.552 |
2481.241 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1041.313 |
909.595 |
1028.49 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(75.522) |
17.515 |
(4.686) |
|
|
Employees benefits expense |
298.724 |
264.133 |
236.07 |
|
|
Prior period items before tax |
0.000 |
0.000 |
0.818 |
|
|
Other expenses |
1378.320 |
1188.919 |
863.255 |
|
|
TOTAL |
2642.835 |
2380.162 |
2123.947 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
742.685 |
645.390 |
357.294 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
135.652 |
181.964 |
231.678 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
607.033 |
463.426 |
125.616 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
266.484 |
264.977 |
256.109 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
340.549 |
198.449 |
(130.493) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(0.021) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
340.549 |
198.449 |
(130.472) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
106.367 |
108.896 |
134.738 |
|
|
TOTAL
EARNINGS |
106.367 |
108.896 |
134.738 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
44.458 |
44.556 |
|
|
Components and Stores parts |
|
16.984 |
13.613 |
|
|
Capital Goods |
|
48.080 |
25.992 |
|
|
TOTAL
IMPORTS |
202.784 |
109.522 |
84.161 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
43.57 |
26.00 |
(18.65 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
429.130 |
429.614 |
361.728 |
|
Net cash flows from (used in) operations |
603.605 |
521.744 |
455.110 |
|
Net cash flows from (used in) operating activities |
586.385 |
519.675 |
454.774 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
61.34 |
60.92 |
60.60 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.95 |
5.99 |
6.02 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
101.04 |
90.27 |
107.69 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
2.47 |
3.62 |
1.84 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.26 |
0.24 |
0.13 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.66 |
0.70 |
0.84 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.09 |
1.12 |
2.47 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.62 |
0.56 |
1.15 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.56 |
1.82 |
3.07 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
5.47 |
3.55 |
1.54 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
((PAT / Sales) * 100) |
% |
10.19 |
6.58 |
(5.27) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
8.05 |
5.73 |
(3.72) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
18.88 |
13.55 |
(14.39) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.15 |
0.95 |
0.69 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.88 |
0.73 |
0.50 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.43 |
0.42 |
0.26 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
25.05 |
21.05 |
31.97 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.15 |
0.95 |
0.69 |
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 |
69.972 |
78.154 |
78.154 |
|
Reserves & Surplus |
836.481 |
1386.214 |
1725.128 |
|
Net
worth |
906.453 |
1464.368 |
1803.282 |
|
|
|
|
|
|
Long Term borrowings |
1552.573 |
1163.838 |
1239.749 |
|
Short Term borrowings |
322.830 |
51.864 |
288.881 |
|
Current Maturities of Long term debt |
361.728 |
429.614 |
429.130 |
|
Total
borrowings |
2237.131 |
1645.316 |
1957.760 |
|
Debt/Equity
ratio |
2.468 |
1.124 |
1.086 |
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
|
2477.876 |
3013.803 |
3343.402 |
|
|
|
21.628 |
10.936 |
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
|
2477.876 |
3013.803 |
3343.402 |
|
Profit
/ (Loss) |
(130.472) |
198.449 |
340.549 |
|
|
(5.27%) |
6.58% |
10.19% |
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 |
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 |
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 |
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 |
NOTE: Registered office of the company has been shifted from 603, International Trade Tower, Nehru Place, New Delhi – 110019, India to the present address w.e.f. 08.03.2018
CORPORATE INFORMATION
The company was incorporated on 27 July 2007. The name of the Company was subsequently changed to Munjal Kiriu Industries Private Ltd w.e.f. 27 August 2007. The foundary division of Hero Motors Limited was acquired by the Company on a going concern basis through slump sale vide business transfer agreement dated 5 December 2007 effective from 10 December 2007 at a net consideration of INR 1143.794 Million payable through the issue of 4,990,000 equity shares of the Company at a premium of INR 208.97 each and balance in cash.
In the year ended 31 March 2011, the Company under vent significant change in the shareholding pattern vide share purchase and share subscription agreement and joint venture agreement dated 24 December 2010. Hero Motors Limited (erstwhile holding company) transferred shares to Kiriu Corporation, Japan thereby reducing its stake from 66.66% to 49.0% during the year ended 31 March 2011.
The Company is a joint venture between Hero Cycle Limited, India and Kiriu Corporation, Japan. The Company is engaged in a business of manufacturing of ferrous castings.
These standalone financial statements for the year ended 31 March 2017 have been prepared as per the requirements of Schedule III of the Companies Act, 2013.
AWARDS AND
ACHIEVEMENTS
Won Best Supporting Award from Maruti Suzuki.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
609.314 |
966.714 |
|
Term loans from others |
505.741 |
0.000 |
|
|
|
|
|
Total |
1115.055 |
966.714 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G86976073 |
100175439 |
HDFC BANK LIMITED |
12/04/2018 |
- |
- |
1048100000.0 |
HDFC Bank House,Senapati Bapat Marg, Lower Parel WestMumbaiMH400013IN |
|
2 |
G77397990 |
100132528 |
HDFC BANK LIMITED |
13/10/2017 |
24/01/2018 |
- |
1030291526.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
G01337229 |
100019161 |
HDFC BANK LIMITED |
03/02/2016 |
- |
- |
900000.0 |
HDFC BANK HOUSE SENAPATI BAPAT MARGLOWER PARELMUMBAIMH400013IN |
|
4 |
C14819858 |
10512559 |
HDFC BANK LIMITED |
04/07/2014 |
- |
- |
1800000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST)MUMBAIMH400013IN |
|
5 |
G62861752 |
10560676 |
KOTAK MAHINDRA BANK LIMITED |
18/03/2015 |
31/03/2015 |
07/11/2017 |
300000000.0 |
Kotak Aerocity, 1st Floor, Asset Area 9IBIS Commercial Block ,Hospitality DistrictNew DelhiDL110037IN |
|
6 |
G62860564 |
10543379 |
KOTAK MAHINDRA BANK LIMITED |
22/12/2014 |
31/03/2015 |
07/11/2017 |
148191525.24 |
Kotak Aerocity, 1st Floor, Asset Area 9IBIS Commercial Block ,Hospitality DistrictNew DelhiDL110037IN |
|
7 |
G62861349 |
10560673 |
KOTAK MAHINDRA BANK LIMITED |
30/03/2015 |
13/08/2015 |
07/11/2017 |
250000000.0 |
Kotak Aerocity, 1st Floor, Asset Area 9, IBISCommercial Block, Hospitality District, AerocityNew DelhiDL110037IN |
|
8 |
C53188074 |
10188964 |
Indian Bank |
13/11/2009 |
16/05/2014 |
14/05/2015 |
300000000.0 |
BRANCH-SOUTH EXTENSION, PART-1A-7, RING ROADNEW DELHIDL110049IN |
|
9 |
C46107462 |
10519075 |
ALLAHABAD BANK |
21/08/2014 |
- |
02/03/2015 |
450000000.0 |
17INDUSTRIAL FINANCE BRANCH, PARLIAMENT STREETNEW DELHIDL110001IN |
|
10 |
C23917883 |
10356399 |
ALLAHABAD BANK |
21/04/2012 |
- |
30/09/2014 |
275100000.0 |
17,INDUSTRIAL FINANCE BRANCH, PARLIAMENT STREETNEW DELHIDL110001IN |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Other money for which company is contingently liable |
5.195 |
8.627 |
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 67.38 |
|
|
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
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.