New Holland Fiat India Private Limited

INDIA@NEW_HOLLAND_FIAT_INDIA_PRIVATE_LIMITED_-_133204_17-FEB-2011
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MIRA INFORM REPORT

Report Date : 17.02.2011 IDENTIFICATION DETAILS Name : Formerly Known As : Registered Office : NEW HOLLAND FIAT (INDIA) PRIVATE LIMITED FIAT INDIA PRIVATE LIMITED 303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai 400098, Maharashtra India 31.12.2009 23.11.1992 11-69675 U29220MH1992PTC069675 Private Limited Liability Company Manufacturer of Agricultural and Construction Equipments.
Country : Financials (as on) : Date of Incorporation : Com. Reg. No.: CIN No.:
[Company Identification No.]
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Legal Form : Line of Business :
RATING & COMMENTS MIRAs Rating : RATING 26-40 B B (26) STATUS Capability to overcome financial difficulties seems comparatively below average. USD 44212000 Moderate Slow PROPOSED CREDIT LINE Small
Maximum Credit Limit : Status : Payment Behaviour :
This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.
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Litigation : Comments : Clear
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Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
NOTES : Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.
ECGC Country Risk Classification List April 1, 2010 Country Name India Risk Category Insignificant Low Moderate High Very High Restricted Off-credit ECGC Classification A1 A2 B1 B2 C1 C2 D Previous Rating (31.12.2009) A1 Current Rating (01.04.2010) A1
INFORMATION DECLINED BY Name : Designation : Contact No.: Date : Mr. Arvind Agarwal Accounts Manager 91-120-3056301 16.02.2011
LOCATIONS Registered Office : Tel. No.: Fax No.: E-Mail : Website : 303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai 400098, Maharashtra, India 91-22-30007701-08 91-22-30007709 vineet.harlalka@cnh.com service@fiat.com www.newhollandindia.co.in
Head Office Division) : Tel No.: Fax No.: (Tractor
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Plot No. 09, Suite No. - 301 and 304, Copia Corporate Suite, Jasola District, Centre, New Delhi 110 044, India 91-11- 46727100 91-11- 46727171 Level No. 1, Ragus Trade Centre, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India 91-22-40700436 Tractor Division Plot No. 03, Udyog Kendra, Grater Noida 201306, District Gautam Budh Nagar, Uttar Pradesh, India 91-120-3056000 91-120-3056989 Parts Division Plot No. 3, Udyog Kendra, Greater Noida 201306, District Gautam Budhagar, Uttar Pradesh, India 91-120-3056000 91-120-3056949
Administrative Office : Tel. No.: Factory 1 :
Tel. No.: Fax No.: Factory 2 :
Tel. No.: Fax No.:
DIRECTORS ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. As on 17.02.2010 Name : Designation : Address : Date of Birth/Age : Date of Appointment : Name : Designation : Address : Date of Birth/Age : Date of cessation : Name : Designation : Address : Date of Birth/Age : Date of Appointment : Name : Designation : Address : Date of Birth/Age : Date of Appointment : Mr. Ezio Barra Director Via Stazione 51/A, 10060 None, Torino Italy 18.12.1951 20.03.2008 Mr. Stefano Reganzani Director Via G Chiabera N 42, Italy 31.03.1965 03.06.2008 Mr. Mario Gasparri Managing Director 69, Friends Colony (West), New Delhi-110065, India 01.10.1960 10.10.2008 Mr. Rakesh Malhotra Director 228, Bhera Enclave, Delhi-110087, India 06.04.1958 25.09.2008
Name : Designation : Address : Date of Birth/Age : Date of Appointment : Mr. Stefano Pampalone Managing Director Istinye Hill Park, SIT 47, Parsel, CS Istinye, Sariyer IST, Turkey 09.11.1967 14.09.2009
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KEY EXECUTIVES Name : Designation : Mr. Arvind Agarwal Accounts Manager
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN As on 31.03.2010 Names of Shareholders (Equity Shares) No. of Shares
Fiat Group Automobiles SPA (Class A), Italy 3799998 Fiat India Automobiles Private Limited (Class A), India 1 Sibille Alberto (Class A), Italy 1 CNH Asian Holding Limited NV (Class A), Belgium 3645916 ISIEmergingMarketsPDF Limited NV (Class B), Belgium CNH Asian Holding us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. 116723086 Total 124169002 Names of Shareholders (Preference Shares) Fiat Group Automobiles SPA, Italy Total As on 17.02.2010 Equity Share Breakup Category Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] Total Percentage of Holding 100.00 No. of Shares 686472 686472
100.00
BUSINESS DETAILS Line of Business : Products : Manufacturer of Agricultural And Construction Equipments. Agricultural Tractors Harvesting Equipment Hay and Forge Equipment Supporting Attachment
PRODUCTION STATUS (As on 31.12.2009) Particulars Tractor * Excludes 9 cars capitalized / Scraped GENERAL INFORMATION No. of Employees : Bankers : Facilities : Information declined by the management Not Available Unsecured Loans a. Short term loans from Bank b. Bank Overdraft Total 31.12.2009 Rs. In Millions ---Unit Nos. Licensed Capacity 24200 Installed Capacity 24200
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Actual Production *20977
31.12.2008 Rs. In Millions 2700.000 74.634 2774.634
Banking Relations : Auditors : Name : Address : Tel. No.: Fax No.: Holding company : Ultimate Holding Company: Fellow Subsidiaries :
Deloitte Haskins and Sells Chartered Accountants th 7 Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase II, Gurgaon 122 002, Haryana, India 91-124-6792000 91-124-6792012 Fiat Group Automobiles SpA Fiat SpA Automotive Lighting Polska Sp. Z.o.o. Fiat Automobile AG Fiat Group Purchasing SRL Fiat Partecipazionl India Private Limited Magneti Marelli Do Brasil Industria e Camercio SA. Sevel Isvor Dealer net SRL Nanjing Fiat Fiat Sundaram Auto Finance Limited CNH Global NV Fiat Revi CNH America LLC CNH ltalia S.p.A CNH U.K Limited
Case Corporation Pty Limited CNH Trade NV Iveco S.p.A Turk Traktors ve Ziraat CNH Global NV CNH Belgium Limited NV New Holland Tractors Limited NV CNH Services Sri CNH Latin America Limited, Brazil CNH France SA CNH International S.A CNH Services (Thailand) limited Fiat Group Automobiles, South Africa Fiat Sepin S. c. p. a CNH Australia PTY Limited CNH Commercial S.A de C.V., Mexico CNH Industrial SA de C.V., Mexico
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CAPITAL STRUCTURE As on 31.12.2009 Authorised Capital : No. of Shares Type Amount ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21Value 02:27:02 EST. DownloadPDF. 30000000 Equity Shares (Class A) Rs.100/- each Rs.3000.000 Millions 120000000 Equity Shares (Class B) Rs.100/- each Rs.12000.000 Millions 50000000 9% Convertible Non-Cumulative Non- Rs.100/- each Rs.5000.000 Millions Participating Redeemable Preference Shares Total Rs. 20000.000 Millions Issued, Subscribed & Paid-up Capital : No. of Shares Type 7445916 Equity Shares (Class A) 116723086 Equity Shares (Class B) 686472 9% Convertible Non-Cumulative NonParticipating Redeemable Preference Shares Total
Value Rs.100/- each Rs.100/- each Rs.100/- each
Amount Rs.744.592 Millions Rs.11672.309 Millions Rs.68.647 Millions Rs.12485.548 Millions
Notes: 1. 3,799,999 Class A, Equity Shares of Rs.100 each fully paid are held by Fiat Group Automobiles S.p.A., the holding Company, and 1 (Previous period 1) Class A, Equity Share of Rs. 100 each by Fiat India Automobiles Private limited. 2. 3,645,916 'Class A' equity shares of Rs.100 each and 116,723,086 'Class B' equity shares of Rs.100 each were allotted to the CNH Asian Holding limited NV (shareholders of the erstwhile New Holland Tractors India Private limited) aggregating Rs.12036.900 millions towards consideration for the merger with the Company. 3. 686,472 9% Convertible Non-Cumulative Non-Participating Redeemable Preference Shares of Rs.100 each are held by Fiat Group Automobiles S.p.A, the holding company. 4. 686,472 9% Convertible Non-Cumulative Non-Participating Redeemable preference shares of Rs.100 each are convertible into 686,472 equity shares of Rs. 100 each at the option of Fiat Group Automobiles S.p.A, the preference shareholder. Any preference shares which remain unconverted into equity shares of Rs. 100 each are
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redeemable at such time, as may be deemed fit by the Board of Directors, subject to a maximum of twenty years from the date of issue together with a redemption premium of Rs. 5 per preference share.
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[all figures are in Rupees Millions] ABRIDGED BALANCE SHEET SOURCES OF FUNDS SHAREHOLDERS FUNDS 1] Share Capital 2] Share Application Money 3] Reserves & Surplus 4] (Accumulated Losses) NETWORTH LOAN FUNDS 1] Secured Loans 2] Unsecured Loans TOTAL BORROWING DEFERRED TAX LIABILITIES TOTAL APPLICATION OF FUNDS
31.12.2009
31.12.2008 (9 Months) 12485.548 0.000 5788.367 (6870.050) 11403.865 0.000 2774.634 2774.634 0.000 14178.499
31.03.2008
12485.548 0.000 5788.367 (7220.997) 11052.918 0.000 0.000 0.000 0.000 11052.918
448.647 12036.900 5788.367 (6326.698) 11947.216 0.000 515.000 515.000 0.000 12462.216
FIXED ASSETS [Net Block] Capital work-in-progress INVESTMENT DEFERREX TAX ASSETS
6607.855 150.556 0.000 0.000
7251.507 1000.819 0.000 0.000
8665.748 238.447 0.000 0.000
CURRENT ASSETS, LOANS & ADVANCES Inventories Sundry Debtors Cash & Bank Balances Other Current Assets Loans & Advances Total Current Assets Less : CURRENT LIABILITIES & PROVISIONS Sundry Creditors Other Current Liabilities Provisions Total Current Liabilities Net Current Assets MISCELLANEOUS EXPENSES TOTAL
1591.095 1916.760 2272.356 0.000 1021.060 6801.271 1919.928 358.839 227.997 2506.764 4294.507 0.000 11052.918
1502.985 2532.649 344.822 0.000 4211.030 8591.486 2057.818 392.946 214.549 2665.313 5926.173 0.000 14178.499
1686.343 2205.377 357.219 0.000 2145.440 6394.379 2351.814 380.895 103.649 2836.358 3558.021 0.000 12462.216
PROFIT & LOSS ACCOUNT PARTICULARS SALES Income Other Income TOTAL Less EXPENSES Raw Material Consumed Purchases made for re-sale Excise Duty Payment to and provision employees Operating and other expenses Increase/ Decrease in stock TOTAL Less 9913.000 6817.454 1258.054 0.000 397.017 1149.975 215.068 9799.251 1292.367 11977.000 (A) 11977.000 10520.071 571.547 11091.618 31.12.2009 31.12.2008 (9 Months)
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31.03.2008
12057.311 1427.502 13484.813
fort
8683.978 965.951 20.548 518.151 1736.259 (116.986) 11807.901 1676.912
(B)
9913.000 2064.000
PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) FINANCIAL EXPENSES (D)
Less
286.000 1778.000
249.237 1043.130
155.708 1521.204
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) Less/ Add DEPRECIATION/ AMORTISATION (F)
2127.000
1573.762
2538.890
PROFIT BEFORE TAX (E-F) Less TAX PROFIT AFTER TAX (G-H) Add PREVIOUS YEARS BALANCE BROUGHT FORWARD
(G) (H) (I)
(349.000) 2.000 (351.000) (6870.050)
(530.632) 12.720 (543.352) (6326.698)
(1017.686) 12.446 (1030.132) (5327.953)
Excess provision for employees benefits as at 1.04.2007, calculated as per accounting standard 15 written back BALANCE CARRIED TO THE B/S EARNINGS IN FOREIGN CURRENCY F.O.B. value of Exports Service Rendered TOTAL EARNINGS
0.000
0.000
31.387
(7221)
(6870.050)
(6326.698)
3241.486 25.103 3266.589
3799.667 65.298 3864.965
4954.747 50.234 5004.981
IMPORTS Raw Materials Capital Goods Traded Goods Others TOTAL IMPORTS Earnings Per Share (Rs.) 997.004 319.523 36.400 10.057 1362.984 (2.81) 1119.403 134.003 0.000 9.405 1262.811 (4.38)
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1640.799 104.365 0.000 40.171 1785.335 (5.48)
KEY RATIOS PARTICULARS PAT / Total Income Net Profit Margin (PBT/Sales) Return on Total Assets (PBT/Total Assets} Return on Investment (ROI) (%) (%) 31.12.2009 (2.93) NA 31.12.2008 (9 Months) (4.90) (5.04) 31.03.2008 (7.64) (8.44)
(%)
(2.60)
(3.67)
(6.76)
0.03
(0.05)
(0.09)
ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. (PBT/Networth)
Debt Equity Ratio (Total Liability/Networth) Current Ratio (Current Asset/Current Liability)
0.23
0.47
0.28
2.71
3.29
2.25
LOCAL AGENCY FURTHER INFORMATION Details of Sundry Creditors: Particulars Sundry Creditors i. Micro and small enterprises ii. Others 31.12.2009 (Rs. in millions) -1919.928 31.12.2008 (Rs. in millions) -2057.818 31.03.2008 (Rs. in millions) -2351.814
Note: Registered office of the company has been shifted from Level No. 1, Ragus Trade Centre, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India to the present address w.e.f. 01.06.2009 Operations and Performance: Car Business The Company continues the business of selling cars - model Palio under the exclusive distributor agreement with
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Tala Motors Limited through its dealer network. Though, the Car industry showed a positive outlook during the year inspite of recession in world economy, the sales of Palio showed a downturn due to introduction of various new generation models by other competitors. To support the alter sale service. the company also continues the business of model Palio's spare parts and accessories through distributors. Tractor Business The Indian Tractor industry touched an ever highest figure in 2009 with growth of 11.6%. NHFI managed to post a growth of 10.3% in Domestic Market, hut at the same time de-grew @ 56.0% in Exports. The Dealer Network continues to improve in 2009 over previous year. The network was strengthened by covering unrepresented territories and also realigning territories. 52 new dealers were added and non-performing dealers were closed down in 2009. Network productivity was also increased by 11%. New Holland India expanded its domestic product portfolio and is now present in more than 90% of Industry domain. Product gaps were filled by introducing New Models in 32HP, 51HP and 65 HI' segment. Apart from this upgraded transmission option was made available to tap the specific application and commercial application markets. They introduced new drive line which was in-house design. Tractors with this drive line "NDL series" were opened to domestic market from Sept' 09, Initial launch was carried out in 4 selected states of Indiu. Launch activity included Dealer launch, Salesman training and customer launch. The response from their channel partners and ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. customers was over-whelming. This series has unique features and after full introduction and establishment by April' 10, it will help LIS to penetrate market efficiently and strengthen theirselves. In line with the International direction, brand identity' Aapki Unnati Hamara Sankalp' was evolved for India. NHFI also participated in big way in Regional/National/International Agri fairs like PAU, Bangalore, Dharwad, Sugar Expo, AGRlMECH Delhi. In 2009 to support farm mechanization they aggressively marketed Sugarcane harvester, Balers and Crop choppers. They are one of the first markets of Asia, where 4000 and 8000 series harvesters were introduced. Looking at the overwhelming response of many customer focused activities (Health check up camps and service camps and Operator trainings for customers, On theJob training for channel partner manpower), they increased number of those in 2009 also, which broughtthemcloser to customer and also enhanced the customer loyalty, During the year company also setup a new plant in Greater Noida Location for production of TLI3 Axles with an initial investment of INR 942Million and the commercial production was started in November 2009. Amalgamation:
The Scheme of Arrangement and Amalgamation ('the Scheme') between Fiat India Private Limited ("Transferee Company") and New Holland Tractors India Private Limited ("Transferor Company") was sanctioned as per the provisions of sections 391 to 394 of the Companies Act, 1956, by the High Court of Mumbai and Delhi vide their Orders dated 8 August 2008 and 1 September 2008 respectively. The Scheme was made effective by filing certified copies of Orders with the Registrar of Companies at Mumbai and Delhi on 8 September, 2008 and 23 September, 2008, respectively. Accordingly, the effect of the same was incorporated in the accounts of the previous year from the appointed date of 1 April, 2007.
Contingent liabilities and provisions
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Particulars
A. Estimated amount of contracts remaining to be executed on capital account and not provided for [net of advances] B. Contingent liabilities not provided in respect of: a) Excise duty demands disputed in appeals i. Excise matter disputed in appeal in respect of differential duty demanded on UNO 3111.649 valuation is pending before the Supreme Court after the Company was successful in the Central Excise and Service-tax Appellate Tribunal (CESTAT). The Company, based on legal advice, believes that there is no merit in the Authority's contention that the assessable value should be on the basis of cost of manufacture rather than invoice value. ii. Excise matters disputed in appeals relating to duty paid on advertisement expenses 463.005 incurred by dealers, cenvat credit incorrectly availed on capital goods under certain chapters etc. These matters are pending before Custom Excise and Service tax Appellate Tribunal (CESTAT). iii. Other show cause notices in relation to excise matters relate to admissibility of 688.096 CENVAT/ MODVAT, including on capital goods, components .of cost in the valuation of goods on the basis of which excise duty levied, excise duty refundable on cars sold as taxis, etc. These matters are pending at various stages, from Deputy Commissioner to Commissioner. b) Income tax demands disputed in from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. ISIEmergingMarketsPDF us-eyintranet appeals i. Case decided by the Income-tax Appellate Tribunal in favor of the Company against Nil which IT Department has filed Appeal with High Court, Mumbai (relating to computation of Taxable Income/(Loss) for assessment year 1998-99). The appeal was not accepted by the High Court, Mumbai. ii. Pending before the Commissioner of Income-tax (Appeals), relating to disallowances Amount Not in transfer pricing assessments for assessment year 2004-2005. The Assessing Officer Ascertainable has recommended indication of penalty proceedings, which is pending c) Sales tax matters disputed in appeals i. Issues mainly related to levy of additional sales-tax demanded by the Department(s) 889.434 on matters like different rates, including certain amounts on the base values for charging tax, non-submission of forms, etc. These matters are pending at various stages, from Deputy Commissioner to Sales-tax Tribunal ii. Demand of Sales Tax by Assistant Commissioner (CT), Thiruvarambur Circle, Trichy 2.276 for the year 2006-07 regarding set off of Entry Tax with Sales Tax. The Appeal is decided by Joint Commissioner Appeals in favor of the company. However, the order is awaited d) Premium on redemption of Preference Share 3.432 e) Claims against the Company not acknowledged as debts i. in respect of labour matters involving issues like reinstatement of dismissed 6.013 employees and payment of wages during the periods of dismissal, etc (to the extent ascertainable) ii. in respect of claims (under arbitration) made by dealers whose dealerships were 606.000 terminated, seeking reimbursement for loss of profit, etc. iii. in respect of claims by customers for issues like quality problems, after sales service, 24.594 etc. iv. in respect of claims made seeking refund of UNO booking advance with interest 21.985 v. other miscellaneous matters 4.109
31.12.2009 (Rs. in millions) 163.543
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FIXED ASSETS: Leasehold Land Building Plant and Machinery Furniture and Fixtures Office and Other Equipments Computers Vehicles Goodwill Computer Software Technical Knowhow fees
WEBSITE DETAILS: History: Subject is a 100% subsidiary of USD 15bn. CNH Global, - the Worlds largest Agricultural Equipments Company, the Leading manufacturer of Agricultural and construction equipment manufacturer in the world. a majority owned subsidiary of Fiat Group. Spread across 60 acres in the Greater Noida District of Uttar Pradesh, the state-of-theart plant with an initial investment of over Rs. 2500.000 Millions, is designed on the lines of New Hollands ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 focused its strength in agricultural mechanisation to build international manufacturing facilities. The company has on 2011-12-21 02:27:02 EST. DownloadPDF. a world-class tractor company in India. Its rationale for investment in India to be driven primarily by its long involvement and in-depth understanding of the Indian agricultural industry. Last year it produced over 23,000 tractors in 35-75 Hp segment with over a 90 per cent indigenisation. Not just India, tractors made by New Holland India have made their mark in the rest of the world. Today completely built tractors manufactured in its state-ofthe-art Greater Noida plant are being exported to over 51countries in Asia, Africa and Middle East, Australia, New Zealand, Latin America and North America. A true testimony of the New Holland India quality, that the world admires. Major Milestone: 1996 1997 1998 1998 1999 2001 2002 2003 2005 2007 2008 New Holland India established. Ground Breaking Ceremony of the Plant at Greater Noida. Inauguration of Training center New Holland India launched the 5630 (70 HP Tractor) Plant Inauguration and Launch of 50 HP tractor New Holland 3630 New Holland 3230 (42 HP Tractor) launched New Holland 3030 (35 HP Tractor) launched New Holland 3630 TX 55 HP Launched Launched 3630 TX+, 3130, 3600 and 5500 and 7500 models in both 2 wheel and 4 wheel drive version. New Holland NX Series(35hp, 40Hp and 45 Hp category) launched 100,000th Tractor Rolled Out. 3037 NX model launched
Research and Development With a thorough knowledge and understanding of the Indian farmer's requirements, New Holland has been able to deliver what the Indian farmer wants. This has been made possible by the extensive research done on the specific requirements of the Indian farmer, in the state-of-the-art Research and Development centre situated at
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Greater Noida. The New Holland India R and D centre designs, develops and tests new products for Indian as well as International markets. HI-tech 3 dimensional computer aided design tools are used to develop new products. Extensive testing is carried out on the products designed and developed in RandD centre which includes bench testing of components. Performance and reliability tests are also done keeping in mind the actual working conditions with customers. With the name comes the commitment of a team of professionals driven by a single goal: that of putting technology into the hands of farmers, allowing them to maximise productivity most economically. The tractors not only meet but also exceed the requirements of the customers. Industrial Operation New Holland India has the following key operational areas: Engine Assembly and Testing Makino Machining Centre CED (Cathodic Electro Deposition) Paint shop Final Assembly and Testing
Continuous Focus on Quality New Holland India team is always striving hard with a spirit of dedication and teamwork to establish the best international quality standards of customer satisfaction for the Indian farmer, infused with the core values and guiding principles of us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. ISIEmergingMarketsPDF CNH Group worldwide. Each tractor that leaves the plant is perfect down to the last coat of paint, which lasts for years. The plant has a special 'Makino' machining centre which provides both accuracy and precision while manufacturing complex machine parts of tractors. Not only that, it has a CED (Cathodic Electro Deposition) paint shop for longer life of the tractors. New Holland India is the first Indian tractor company to get an ISO 9001:2000 certification for quality standards. New Holland has implemented and integrated Supply Chain ERP system, which gives extremely flexible and controlled material management. All production staff and workers are technically qualified, and many of them have been trained in New Holland plants abroad to ensure international standards of quality and productivity Customer Service Parts In New Holland, they believe the most important phase of the customer dealing starts when the machines have rolled out of the outlet. Driven by this philosophy, they provide prompt after-sales service support to all the customers through the network of over 400 dealers. These dealers' outlets store and sell New Holland genuine parts, lubes and accessories that conform to the 'New Holland stringent quality standards'. Furthermore, these tractor parts/accessories are also available through the network of 70 strategically located stockists and their retailer network of over 3000 outlets spread all over the country. To serve the needs of the Dealers and Stockists, New Holland India ware house based at Greater Noida that adequate parts, components, accessories and subassemblies, making New Holland capable of prompt distribution in the domestic and international markets at any point of time. Training Centre
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New Holland Training centre was established with an objective to equip New Holland Dealers and Sales and Service staff with necessary Technical and Managerial Skills to provide the customers the best services always. The training centre is situated at the premises of State-of-the art New Holland manufacturing plant at Greater Noida, includes class rooms with multimedia presentations facilities, well equipped workshops and various tractor aggregates of complete New Holland range and wide range of implements and a big farm to provide hands-on training. Advanced Support New Holland India has a Web-based catalogues for tractor parts to enable field staff for placing on line order for parts. Exports Not just India, tractors made by New Holland India have made their mark in the rest of the world. Today completely built tractors manufactured in its state-of-the-art Greater Noida plant to over 39 countries around the world in tractors to Asia, Africa, Australia, Europe, Latin America and North America. In addition to tractors, New Holland India exports sub-assemblies and components manufactured in the plant are also exported to other CNH subsidiaries worldwide. A true testimony of the New Holland India quality, that the world admires
PRESS RELEASE:
NEW HOLLAND FIAT INDIA SUPPLIERS MEET 4th DECEMBER 2010 As an endeavor towards further harvesting partnerships with our suppliers, New Holland Fiat India convened a Supplier Meet on 4th December 2010 at Hotel Taj Palace, New Delhi. The event was overwhelmingly participated by almost all suppliers and service providers, sending very positive signals of our resolve to make our association an everlasting one. Mr. Stefano Pampalone, Managing Director-India Plant shared the performance about FIAT Group and CNH Worldwide, and talked about increasing our footprint in the Indian market with aggressive plans and diversification into new agri based products. The deliberations from Mr. Abhijit Gupta, Director-Purchasing focused on the current economic environment, new developments, and on the global sourcing activities, emphasizing on the vital importance of cost management. This was followed by presentations from Mr. Anil Sinha and Mr. Vivek Gupta on specific plans and expectations on quality, delivery and new product developments, which gave an excellent insight into the deliverables, and further expectations from our channel partners. In order to make suppliers free of all reservations, there was a Question and Answer session, where suppliers participated with lot of enthusiasm and their questions were answered aptly by the senior management of NHFI. Performance based on cost, quality, delivery and development was recognized and the best deserving suppliers were given awards for their outstanding performance in their respective areas. New Holland fiat India thanks it's all suppliers and service providers for taking time out of their busy schedule and attending the event, which will go a long way in further strengthening our business relations.
CMT REPORT (Corruption, Money Laundering & Terrorism]
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The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc. 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. 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. Asset Declaration : No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction. Record on Financial Crime : None
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Charges or us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. ISIEmergingMarketsPDF conviction registered against subject: 5] Records on Violation of Anti-Corruption Laws : Charges or investigation registered against subject: Records on Intl Anti-Money Laundering Laws/Standards : Charges or investigation registered against subject: None
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None
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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. 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. 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. Press Report : No press reports / filings exists on the subject.
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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 companys 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 US Dollar UK Pound Euro Unit 1 1 1 Indian Rupees Rs.45.45 Rs.72.91 Rs.61.43
PAGE NO. : 1
SCORE & RATING EXPLANATIONS SCORE FACTORS RANGE POINTS
HISTORY 1~10 5 PAID-UP CAPITAL 1~10 3 OPERATING SCALE 1~10 3 FINANCIAL CONDITION --BUSINESS SCALE 1~10 2 --PROFITABILIRY 1~10 2 --LIQUIDITY 1~10 3 --LEVERAGE 1~10 3 --RESERVES 1~10 2 --CREDIT LINES 1~10 3 --MARGINS -5~5 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/NOEST. DownloadPDF. NO ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 --AFFILIATION YES/NO YES --LISTED YES/NO NO --OTHER MERIT FACTORS YES/NO YES TOTAL 26 This score serves as a reference to assess SCs 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 and their relative weights (as indicated through %) are as follows: Financial condition (40%) Credit history (10%) Ownership background (20%) Market trend (10%) Payment record (10%) Operational size (10%)
PAGE NO. : 1
RATING EXPLANATIONS
RATING >86 71-85 Aaa Aa
STATUS Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums Overall operation is considered normal. Capable to meet normal commitments. Capability to overcome financial difficulties seems comparatively below average. Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity Absolute credit risk exists. Caution needed to be exercised New Business
PROPOSED CREDIT LINE Unlimited Large
56-70
Fairly Large
41-55 26-40 11-25 <10 -
Ba B Ca C NB
Satisfactory Small Limited with full security Credit not recommended -
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions
This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its

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INDIA@NEW_HOLLAND_FIAT_INDIA_PRIVATE_LIMITED_-_133204_17-FEB-2011

MIRA INFORM REPORT

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

Legal Form : Line of Business :

Maximum Credit Limit : Status : Payment Behaviour :

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

Administrative Office : Tel. No.: Factory 1 :

Tel. No.: Fax No.: Factory 2 :

Tel. No.: Fax No.:

KEY EXECUTIVES Name : Designation : Mr. Arvind Agarwal Accounts Manager

Actual Production *20977

31.12.2008 Rs. In Millions 2700.000 74.634 2774.634

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

Value Rs.100/- each Rs.100/- each Rs.100/- each

Amount Rs.744.592 Millions Rs.11672.309 Millions Rs.68.647 Millions Rs.12485.548 Millions

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

6607.855 150.556 0.000 0.000

7251.507 1000.819 0.000 0.000

8665.748 238.447 0.000 0.000

12057.311 1427.502 13484.813

8683.978 965.951 20.548 518.151 1736.259 (116.986) 11807.901 1676.912

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

(G) (H) (I)

(349.000) 2.000 (351.000) (6870.050)

(530.632) 12.720 (543.352) (6326.698)

(1017.686) 12.446 (1030.132) (5327.953)

3241.486 25.103 3266.589

3799.667 65.298 3864.965

4954.747 50.234 5004.981

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF. (PBT/Networth)

31.12.2009 (Rs. in millions) 163.543

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

SCORE & RATING EXPLANATIONS SCORE FACTORS RANGE POINTS

RATING >86 71-85 Aaa Aa

PROPOSED CREDIT LINE Unlimited Large

41-55 26-40 11-25 <10 -

Satisfactory Small Limited with full security Credit not recommended -

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

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