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MIRA INFORM REPORT
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Report No. : |
509825 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
KRISHNA MARUTI LIMITED (w.e.f. 1994) |
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Formerly Known
As : |
SONA
CAR SEATS LIMITED |
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Registered
Office : |
40 K. M. NH-8, Delhi-Jaipur Highway, Village Nursingpur,
Gurugram – 122001, Haryana |
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Tel. No.: |
91-124-4725004 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
25.06.1991 |
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Com. Reg. No.: |
05-032012 |
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Capital
Investment / Paid-up Capital : |
INR 42.410 Million |
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CIN No.: [Company Identification
No.] |
U34300HR1991PLC032012 |
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IEC No.: [Import-Export Code No.] |
0594006449 |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK1316N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Company manufactures car seats, plastic parts, dies and moulds for automotive industry. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 8800000 |
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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 an established company incorporated in the year 1991 and it
is having excellent track records. It is one of the largest suppliers of seat sets and door trims to
Maruti Suzuki India Limited (MSIL). For the financial year 2017, the company has increased its revenue
from operation as compared to previous year and maintained average
profitability margin of 4.49%. Rating takes into consideration strong financial profile of the
company marked by healthy networth base and low debt balance sheet. Further, rating also derives strength from its established business
position of KML as the leading supplier of seat sets and door trims to Maruti
Suzuki India Limited (MSIL), the market leader in the passenger vehicle
segment. Trade relations are reported as fair. Payments are seems to be
regular. In view of good financial position and established track records, the
company can be considered good for normal 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Long Term Rating= AA- |
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Rating Explanation |
High degree of safety and very low credit
risk. |
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Date |
29.12.2017 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term rating= A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
29.12.2017 |
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 18.05.2018
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 (91-124-44725017 / 44725032)
LOCATIONS
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Registered /
Corporate Office 1 / Factory 1 : |
40 K. M. NH-8, Delhi-Jaipur Highway, Village Nursingpur,
Gurugram – 122001, Haryana, India |
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Tel. No.: |
91-124-4725004/ 4725017 |
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Fax No.: |
91-124-4725001 |
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E-Mail : |
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Website : |
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Corporate
Office 2 / Metals Division :
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003-007, Ground Floor, Tower-D, Global Business Park, M.G. Road, Gurugram -122002, Haryana-India |
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Tel. No.: |
91-124-2625200 |
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Fax No.: |
91-124-2625201 |
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Corporate Office 3
: |
3rd and 4th Floor, Central Plaza Mall, Sector-53, Gurugram (Opposite DLF Golf Course), Gurugram – 122002, Haryana, India |
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Tel. No.: |
91-124-4725017 |
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Fax No.: |
91-124-4725001 |
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Factory 2 :
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Plot No.17, 20, MSIL Supplier Park, Sec 3A, Gate-4, IMT Manesar, Gurugram -122001, Haryana, India |
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Tel. No.: |
91-124-4776432 |
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Factory 3 :
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KML Molding-Plastic
Division Plot No.18-19, MSIL Supplier Park, Sec 3A, Gate-4, IMT Manesar, Gurugram -122001, Haryana, India |
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Tel. No.: |
91-124-4776412 -413 |
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Factory 4 :
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Plastic Division Plot No. 48, Sector -3, IMT Manesar, Gurugram -122001, Haryana, India |
DIRECTORS
AS ON 31.03.2018
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Name : |
Mr. Ashok Kapur |
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Designation : |
Managing Director |
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Address : |
B-5, Chirag Enclave, New Delhi – 110048, India |
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Date of Birth/Age : |
24.06.1946 |
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Qualification : |
Bachelor
of Architecture |
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Date of Appointment : |
25.06.1991 |
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PAN No.: |
AAJPK0341H |
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DIN No.: |
00003577 |
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Other
Directorship :
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Name : |
Mr. Sunandan Kapur |
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Designation : |
Managing Director |
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Address : |
B-5, Chirag Enclave, New Delhi – 110048, India |
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Date of Birth/Age : |
21.08.1974 |
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Qualification : |
MBA |
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Date of Appointment : |
21.04.2009 |
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PAN No.: |
AGMPK4602J |
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DIN No.: |
00003638 |
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Other
Directorship :
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Name : |
Mr. Sanjay Mohan Labroo |
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Designation : |
Director |
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Address : |
6, Green Avenue Lane Off Green Avenue, Kishangarh, New Delhi – 110070,
India |
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Date of Birth/Age : |
05.10.1961 |
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Qualification : |
MBA |
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Date of Appointment : |
27.09.1996 |
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DIN No.: |
00009629 |
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Other
Directorship :
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Name : |
Ms. Arti Kapur |
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Designation : |
Director |
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Address : |
B - 5, Chirag Enclave, New Delhi-110048, India |
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Date of Birth/Age : |
07.04.1953 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.01.2015 |
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DIN No.: |
00003604 |
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Other
Directorship :
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Name : |
Kenichi Ayukawa |
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Designation : |
Nominee Director |
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Address : |
F-071, Park Place DLF City, Phase V, Gurugram-122002, Haryana, India |
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Date of Birth/Age : |
07.10.1955 |
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Qualification : |
Graduate |
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Date of Appointment : |
28.05.2014 |
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DIN No.: |
02262755 |
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Other
Directorship :
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Name : |
Mr. Venkat Raman Challa |
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Designation : |
Nominee Director |
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Address : |
G-31, Regent House DLF City, Phase Iv, Gurugram-122009, Haryana, India |
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Date of Birth/Age : |
27.04.1961 |
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Qualification : |
B.tech |
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Date of Appointment : |
20.02.2015 |
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DIN No.: |
07093663 |
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Other
Directorship :
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Name : |
Mr. Ram Natarajan |
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Designation : |
Wholetime Director |
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Address : |
Flat No. F1- 402, Uniworld City, Sector-30-31, Gurugram – 122001,
Haryana, India |
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Date of Appointment : |
25.08.2017 |
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DIN No.: |
00041871 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Parshuram Baranwal |
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Designation : |
Secretary |
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Address : |
H. No. 201, Laxmi Apartments, Sector-10 A,
Gurugram-122001, Haryana, India |
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Date of Birth/Age : |
01.02.1975 |
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Date of Appointment : |
16.11.2005 |
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PAN No.: |
AHSPB9676Q |
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Name : |
Mr. Sanjiv Goyal |
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Designation : |
Chief Financial Officer |
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Address : |
A-23, Press Enclave, Saket, Delhi – 110017, India |
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Date of Birth/Age : |
25.05.2016 |
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Date of Appointment : |
ACTPG0126C |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Ashok Kapur |
1371849 |
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Arti Kapur |
14000 |
|
Ashok Kapur HUF |
115150 |
|
Sharsh Finance and Investment Company Private Limited,
India |
830000 |
|
Suzuki Motor Corporation, Japan |
1240000 |
|
Maruti Suzuki India Limited, India |
670000 |
|
Sunandan Kapur |
1 |
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Total |
4241000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
35.39 |
|
Promoters [Bodies
corporate] |
64.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company manufactures car seats, plastic parts, dies and moulds for automotive industry. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Uberoi Sood and Kapoor Chartered Accountants |
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Address : |
606, Vishal Bhawan, Nehru Place, New Delhi – 110019, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFU1674L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Joint Venturer : |
· Maruti Suzuki India Limited · Suzuki Motor Corporation, Japan |
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Joint Ventures : |
· Krishna Grupo Antolin Private Limited · Vincotte International India Assessment Services Private Limited |
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Enterprises (Only with whom the Company
had transactions during the year or had outstanding balance at year end) over
which Key Management Personnel or their relatives exercise significant
influence : |
· ABR Auto Private Limited · AKPS Auto Accressories Private Limited · HH Interior and Auto Components Limited · Hansvahini Auto Interior Private Limited · Velvet Infrastructure Private Limited · Krishna Ishizaki Auto Limited · Krishna Quinette Seats Private Limited · MSKH Seating Systems India Private Limited · SKH Global Travels Private Limited · SKH Metals Limited · SKH Sheet Metals Components Private Limited · Comfort Trims Private Limited · Suminoe Teijin Techno Krishna India Private Limited · Krishna Landi Renzo India Private Limited · NHK F.Krishna India Automotive Seating Private Limited · SKH Sila India Private Limited · RSLH Seat Trims LLP ·
SIAC SKH India Cabs Manufacturing Limited |
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Gratuity Trust : |
· Krishna Maruti Limited Emp.Group Gratuity Scheme |
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Superannuation Trust : |
· Krishna Maruti Limited Superannuation Scheme |
CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
INR 10/- each |
INR 55.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4241000 |
Equity Shares |
INR 10/- each |
INR 42.410 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
42.410 |
42.410 |
42.410 |
|
(b) Reserves & Surplus |
3030.507 |
2301.247 |
1757.915 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3072.917 |
2343.657 |
1800.325 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
226.206 |
375.363 |
575.504 |
|
(b) Deferred tax liabilities (Net) |
10.706 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.273 |
7.335 |
0.000 |
|
(d) Long-term
provisions |
31.524 |
24.837 |
23.311 |
|
Total Non-current
Liabilities (3) |
269.709 |
407.535 |
598.815 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
348.021 |
563.476 |
681.730 |
|
(b) Trade
payables |
2467.995 |
1384.789 |
1467.032 |
|
(c) Other
current liabilities |
346.633 |
298.369 |
262.288 |
|
(d) Short-term
provisions |
8.180 |
8.912 |
30.765 |
|
Total Current
Liabilities (4) |
3170.829 |
2255.546 |
2441.815 |
|
|
|
|
|
|
TOTAL |
6513.455 |
5006.738 |
4840.955 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1299.739 |
1246.300 |
1094.308 |
|
(ii)
Intangible Assets |
6.868 |
8.084 |
6.370 |
|
(iii)
Capital work-in-progress |
496.451 |
65.800 |
290.302 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
38.580 |
38.254 |
38.007 |
|
(c) Deferred tax assets (net) |
0.000 |
5.995 |
9.048 |
|
(d)
Long-term Loan and Advances |
324.423 |
353.923 |
793.296 |
|
(e) Other
Non-current assets |
433.515 |
224.066 |
0.000 |
|
Total Non-Current
Assets |
2599.576 |
1942.422 |
2231.331 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
896.059 |
123.005 |
0.000 |
|
(b)
Inventories |
538.103 |
408.395 |
284.374 |
|
(c) Trade
receivables |
1931.753 |
1298.423 |
1142.393 |
|
(d) Cash
and cash equivalents |
128.687 |
576.583 |
153.764 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
1029.093 |
|
(f) Other
current assets |
419.277 |
657.910 |
0.000 |
|
Total
Current Assets |
3913.879 |
3064.316 |
2609.624 |
|
|
|
|
|
|
TOTAL |
6513.455 |
5006.738 |
4840.955 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
16134.971 |
13413.886 |
10392.975 |
|
|
|
|
Other Income |
174.950 |
169.610 |
133.542 |
|
|
|
|
TOTAL |
16309.921 |
13583.496 |
10526.517 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
11533.959 |
9719.049 |
8554.57 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(16.217) |
(31.607) |
37.385 |
|
|
|
|
Employee Benefits Expenses |
708.620 |
548.700 |
447.978 |
|
|
|
|
Other Expenses |
2588.396 |
2222.061 |
476.703 |
|
|
|
|
TOTAL |
14814.758 |
12458.203 |
9516.636 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1495.163 |
1125.293 |
1009.881 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES |
51.065 |
86.455 |
118.62 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1444.098 |
1038.838 |
891.261 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION |
375.831 |
319.877 |
323.283 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
1068.267 |
718.961 |
567.978 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
344.049 |
180.812 |
178.163 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
724.218 |
538.149 |
389.815 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
NA |
NA |
273.777 |
|
|
|
|
Capital Goods |
NA |
NA |
73.105 |
|
|
|
|
Stores & Spares |
NA |
NA |
3.545 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
350.427 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (INR) |
170.77 |
126.89 |
91.92 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
150.157 |
150.141 |
175.127 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
1718.391 |
974.270 |
726.541 |
|
Net cash flows from (used in) operating activities |
1422.301 |
673.533 |
521.462 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
43.70 |
35.33 |
40.12 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
8.35 |
10.33 |
9.10 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
78.10 |
52.01 |
62.59 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.78 |
2.76 |
3.55 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.83 |
0.85 |
0.73 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.54 |
0.56 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.24 |
0.46 |
0.80 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.03 |
0.96 |
1.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.59 |
0.56 |
0.77 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
29.28 |
13.02 |
8.51 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
4.49 |
4.01 |
3.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.12 |
10.75 |
8.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
23.57 |
22.96 |
21.65 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.23 |
1.36 |
1.07 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.06 |
1.18 |
0.95 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.47 |
0.47 |
0.37 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
17.08 |
25.68 |
33.77 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.23 |
1.36 |
1.07 |
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 |
42.410 |
42.410 |
42.410 |
|
Reserves & Surplus |
1757.915 |
2301.247 |
3030.507 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1800.325 |
2343.657 |
3072.917 |
|
|
|
|
|
|
Long Term borrowings |
575.504 |
375.363 |
226.206 |
|
Short Term borrowings |
681.730 |
563.476 |
348.021 |
|
Current maturities of long term debt |
175.127 |
150.141 |
150.157 |
|
Total
borrowings |
1432.361 |
1088.980 |
724.384 |
|
Debt/Equity
ratio |
0.796 |
0.465 |
0.236 |
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
|
10392.975 |
13413.886 |
16134.971 |
|
|
|
29.067 |
20.286 |
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
|
10392.975 |
13413.886 |
16134.971 |
|
Profit/(Loss) |
389.815 |
538.149 |
724.218 |
|
|
3.75% |
4.01% |
4.49% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
42.410 |
42.410 |
|
(b) Reserves &
Surplus |
|
3392.906 |
2591.222 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
3435.316 |
2633.632 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
226.206 |
375.363 |
|
(b) Deferred tax
liabilities (Net) |
|
10.706 |
0.000 |
|
(c) Other long term liabilities |
|
1.273 |
7.335 |
|
(d) long-term provisions |
|
31.524 |
24.837 |
|
Total Non-current
Liabilities (3) |
|
269.709 |
407.535 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
348.021 |
563.476 |
|
(b) Trade payables |
|
2467.994 |
1384.790 |
|
(c) Other current
liabilities |
|
346.633 |
298.369 |
|
(d) Short-term provisions |
|
8.180 |
8.912 |
|
Total Current Liabilities
(4) |
|
3170.828 |
2255.547 |
|
|
|
|
|
|
TOTAL |
|
6875.853 |
5296.714 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1299.739 |
1246.300 |
|
(ii) Intangible Assets |
|
6.868 |
8.084 |
|
(iii) Capital
work-in-progress |
|
496.451 |
65.800 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
400.978 |
328.230 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
5.995 |
|
(d) Long-term Loan and Advances |
|
324.423 |
353.923 |
|
(e) Other Non-current
assets |
|
433.515 |
224.066 |
|
Total Non-Current Assets |
|
2961.974 |
2232.398 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
896.059 |
123.005 |
|
(b) Inventories |
|
538.103 |
408.395 |
|
(c) Trade receivables |
|
1931.753 |
1298.423 |
|
(d) Cash and cash
equivalents |
|
128.687 |
576.583 |
|
(e) Short-term loans and
advances |
|
0.000 |
0.000 |
|
(f) Other current assets |
|
419.277 |
657.910 |
|
Total Current Assets |
|
3913.879 |
3064.316 |
|
|
|
|
|
|
TOTAL |
|
6875.853 |
5296.714 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
16134.971 |
13413.886 |
|
|
Other Income |
|
174.950 |
169.610 |
|
|
TOTAL |
|
16309.921 |
13583.496 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
11533.959 |
9719.049 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(16.217) |
(31.607) |
|
|
Employees benefits
expense |
|
708.620 |
548.700 |
|
|
Other expenses |
|
2588.396 |
2222.061 |
|
|
TOTAL |
|
14814.758 |
12458.203 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
1495.163 |
1125.293 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
51.065 |
86.455 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
1444.098 |
1038.838 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
375.831 |
319.877 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
1068.267 |
718.961 |
|
|
|
|
|
|
|
Less |
TAX |
|
344.049 |
180.813 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
724.218 |
538.148 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
187.84 |
134.54 |
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 |
GENERAL INFORMATION
The Company is a company domiciled in India, with its registered office situated at 40 K.M. NH-8, Delhi-Jaipur Highway, Village Narsinghpur, Gurgaon (Haryana) - 122001.The Company was incorporated asSona Cars Seats Limited in the year 1991 under the provisions of Indian Companies Act 1956. The name of the Company was changed from Sona Cars Seats Limited to Krishna Maruti Limited in the year 1994. The Company manufactures car seats, plastic parts, dies and moulds for automotive industry. It is a joint venture of Mr.Ashok Kapur& his associates, Suzuki Motor Corporation Japan and Maruti Suzuki India Limited.
FUTURE OPERATION AND OUTLOOK
As the Indian Auto industry is one of the largest in the world and being part of such Industry, the Company is very enthusiastic about its growth. The Company is very optimistic regarding its expansion with the establishment and operationalization of its new Plants (Seating and Plastic) in the state of Gujarat and hopeful to achieve new heights in the coming years.
With the encouraging initiatives by the Government of India and the support of its JV Partners, the Company is confident to diverse its business and cater its customers proficiently.
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G83410423 |
100168126 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
15/03/2018 |
- |
- |
750000000.0 |
25 BIRLA TOWERBARAKHAMBA ROADNEW DELHIDL110001IN |
|
2 |
C79164950 |
10620408 |
CITI BANK N.A. |
10/02/2016 |
- |
- |
2500000.0 |
JEEVAN BHARTI BUILDING, 4TH FLOOR124 CONNAUGHT CIRCUS, CONNAUGHT PLACENEW DELHIDL110001IN |
|
3 |
G11770997 |
10520385 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
18/09/2014 |
29/08/2016 |
- |
600000000.0 |
25, BIRLA TOWERBARAKHAMBA ROADNEW DELHIDL110001IN |
|
4 |
C21021100 |
10452902 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
26/09/2013 |
18/09/2014 |
- |
825000000.0 |
BIRLA TOWERS, 25BARAKHAMBA ROADNEW DELHIDL110001IN |
|
5 |
G47050471 |
10437828 |
KOTAK MAHINDRA BANK LIMITED |
18/07/2013 |
07/06/2017 |
- |
110000000.0 |
1ST FLOOR, ASSET AREA 9, IBIS COMMERCIAL BLOCKHOSPITALITIY DIST, DELHI AEROCITYNEW DELHIDL110037IN |
|
6 |
G73421729 |
10431441 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
15/06/2013 |
21/12/2017 |
- |
1140000000.0 |
25, BIRLATOWERSBARAKHAMBA ROADNEW DELHIDL110001IN |
|
7 |
B85560431 |
10073819 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
12/11/2007 |
25/09/2013 |
- |
540000000.0 |
BIRLA TOWERS25, BARAKHAMBHA ROAD,NEW DELHIDL110001IN |
|
8 |
B85559839 |
10073811 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
12/11/2007 |
25/09/2013 |
- |
540000000.0 |
BIRLA TOWERS25, BARAKHAMBHA ROAD,NEW DELHIDL110001IN |
|
9 |
G72895246 |
10008420 |
KOTAK MAHINDRA BANK LIMITED |
13/06/2006 |
21/12/2017 |
- |
360000000.0 |
KOTAK AEROCITY, 1ST FLOOR, ASSET AREA 9, IBISCOMMERCIAL BLOCK, HOSPITALITY DISTRICT, AEROCITYNEW DELHIDL110037IN |
|
10 |
G07162399 |
80002091 |
CITIBANK N.A |
08/07/2002 |
15/06/2013 |
11/07/2016 |
275000000.0 |
JEEVAN BHARTI BUILDING, 4TH FLOOR124, CONNAUGHT CIRCUS, CONNAUGHT PLACENEW DELHIDL110001IN |
FIXED ASSETS:
· Land
· Buildings
· Office building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· 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 67.83 |
|
|
1 |
INR 91.68 |
|
Euro |
1 |
INR 80.29 |
INFORMATION DETAILS
|
Information Gathered
by : |
KMN |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
Report Prepared
by : |
NKT |
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.