MIRA
INFORM REPORT
|
Report Date : |
02.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TRANSWEIGH
[INDIA] LIMITED |
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Registered Office : |
124, Government
Industrial Estate, Charkop, Kandivli [West], Mumbai – 400067, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
30.03.1987 |
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Com. Reg. No.: |
11-43015 |
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CIN No.: [Company
Identification No.] |
U29196MH1987PLC043015 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT01025D |
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PAN No.: [Permanent
Account No.] |
AAACT1593Q |
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Legal Form : |
Closely Held
Public Limited Liability Company |
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Line of Business : |
To carry on the business
as manufacturer, producers, designers, fabricators, assemblers, importers,
exporters, consultants, agents, traders and / or otherwise dealers of
industrial, agricultural and scientific material handling equipments,
measuring and weighing equipments including belt conveyors, slat conveyors,
pulleys, vibratory feeders, gravity rollers conveyors, bucket elevators,
weigh feeders, belt weighers, weigh bridges, in-motion and stationery
weighing systems, sack filling, palletising machines batching plants,
electronic, electrical and mechanical control systems, industrial weighing
and otherwise measuring and process control equipments, devices, plants,
machineries and jigs, fixtures, dies, parts, components, accessories,
thereof. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having satisfactory track. Directors are reported as experienced and
respectable businessmen. Trade
relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office/ Factory : |
124, Government
Industrial Estate, Charkop, Kandivli [West], Mumbai – 400067, Maharashtra |
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Tel. No.: |
91-22-28682311 /
2906 / 3232 |
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Fax No.: |
91-22-28682145 |
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E-Mail : |
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Website : |
SOLE
PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. Avinash
Chandra Wadhawan |
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Designation : |
Chairman |
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Address : |
3, Kautulya Marg,
Chanakyapuri, New Delhi – 110021, India |
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Date of Birth/Age : |
27.01.1938 |
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Date of Appointment : |
26.09.2000 |
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Name : |
Mr. Habib Nazar
Futehally |
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Designation : |
Managing Director
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Address : |
602, Nippon – I, Juhu
Tara Road, Juhu, Santacruz [West], Mumbai – 400049, Maharashtra, India |
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Date of Birth/Age : |
29.06.1944 |
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Date of Appointment : |
30.03.1987 |
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Other Directorships : |
Transweigh
[International] Private Limited - Director CIN No. : U99999MH1993PTC071516 Eirich –
Transweigh India Private Limited – Director CIN No. :
U45303MH2001PTC130295 Technical
Divinations [India] Private Limited – Director CIN No. :
U74210MH2003PTC142812 |
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Name : |
Mr. Murad Zafar
Futehally |
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Designation : |
Director |
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Address : |
403, Nippon – I,
Juhu Tara Road, Juhu, Santacruz [West], Mumbai – 400049, Maharashtra, India |
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Date of Birth/Age : |
08.06.1948 |
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Date of Appointment : |
30.03.1987 |
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Name : |
Mr. Gerd Alois
Kudorfer |
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Designation : |
Director |
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Address : |
Statzlinger
Strasse, 70 – D 86165, Augsburg, Germany |
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Date of Birth/Age : |
07.09.1942 |
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Date of Appointment : |
09.01.1995 |
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Name : |
Mr. Shamsher
Singh Sidhu |
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Designation : |
Director |
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Address : |
165, Sector 8A,
Chandigarh – 160009 |
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Date of Birth/Age : |
18.08.1931 |
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Date of Appointment : |
26.09.2000 |
KEY EXECUTIVES
|
Name : |
Mr. Sharath
Bangera |
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Designation : |
Secretary |
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Address : |
C2/9, Pragati Nagar,
Goregaon [West], Mumbai – 400062, Maharashtra, India |
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Date of Birth/Age : |
07.07.1970 |
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Date of Appointment : |
18.09.2006 |
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PAN No. : |
AEGPB6803A |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Mr. Habib Nazar
Futehally |
|
81597 |
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Mr. Murad Zafar
Futehally |
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81597 |
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Mr. Habib Nazar
Futehally |
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791628 |
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Pfister GmbH |
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581064 |
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Mr. Faiz S.
Tyabji |
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72000 |
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Mr. Murad Zafar
Futehally |
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791628 |
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Ms. Sakina Habib
Futehally |
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1 |
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Mr. Aamir Habib
Futehally |
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1 |
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Mr. Arif Habib
Futehally |
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1 |
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Mr. Irmela Murad
Futehally |
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1 |
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Mr. Vivan Murad
Futehally |
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1 |
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Mr. Sonja Murad
Futehally |
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1 |
BUSINESS DETAILS
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Line of Business : |
To carry on the
business as manufacturer, producers, designers, fabricators, assemblers,
importers, exporters, consultants, agents, traders and / or otherwise dealers
of industrial, agricultural and scientific material handling equipments,
measuring and weighing equipments including belt conveyors, slat conveyors,
pulleys, vibratory feeders, gravity rollers conveyors, bucket elevators,
weigh feeders, belt weighers, weigh bridges, in-motion and stationery
weighing systems, sack filling, palletising machines batching plants,
electronic, electrical and mechanical control systems, industrial weighing
and otherwise measuring and process control equipments, devices, plants,
machineries and jigs, fixtures, dies, parts, components, accessories, thereof. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
About 250 |
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Bankers : |
State Bank of
India Kandivli
Industrial Estate Branch, Kandivli [West], Mumbai – 400067, Maharashtra,
India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
S. K. Kamdar
& Company Chartered
Accountants, C – 3/2, Khira
Nagar, S. V. Road, Santacruz [West], Mumbai – 400054, Maharashtra, India PAN No. :
AAAPK8277B |
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Joint Venture with : |
Pfister GmbH |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
Rs. 10/- each |
Rs. 75.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2399500 |
Equity Shares |
Rs. 10/- each |
Rs. 23.995 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
23.995 |
26.244 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
63.404 |
50.078 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
87.399 |
76.322 |
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LOAN FUNDS |
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1] Secured Loans |
|
37.769 |
6.127 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
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37.769 |
6.127 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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125.168 |
82.449 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
62.657 |
59.513 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
1.500 |
0.000 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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37.702 |
49.331 |
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Sundry Debtors |
|
78.530 |
51.974 |
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Cash & Bank Balances |
|
25.696 |
34.859 |
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Other Current Assets |
|
1.577 |
1.808 |
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Loans & Advances |
|
4.470 |
1.955 |
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Total
Current Assets |
|
147.975 |
139.927 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
86.964 |
113.142 |
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Provisions |
|
0.000 |
3.861 |
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Total
Current Liabilities |
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86.964 |
117.003 |
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Net Current Assets |
|
61.011 |
22.924 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.012 |
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TOTAL |
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125.168 |
82.449 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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459.266 |
381.002 |
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Total Income |
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459.266 |
381.002 |
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Profit/(Loss) After Tax |
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26.707 |
19.739 |
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Earnings in Foreign Currency : |
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Total Earnings |
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16.549 |
72.807 |
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Expenditures : |
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Interest |
|
4.182 |
2.272 |
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Depreciation & Amortization |
|
3.436 |
2.944 |
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Other Expenditure |
|
424.941 |
356.046 |
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Total Expenditure |
|
432.559 |
361.262 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
5.81 |
5.18 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
0.99 |
1.53 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.70 |
1.19 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
TRANSWEIGH [INDIA] LIMITED |
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Presented By |
TRANSWEIGH [INDIA] LIMITED |
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1) Date and description of instrument creating the change |
General Agreement for grant of small industrial advances and hypothecation of movables, book debts, and other assets dated 19.08.1996 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 51.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present & future goods, book debts, movables, and other assets, such as outstanding money, receivables, claims, bills, invoices, documents, contracts, engagements, securities, investments and rights in the present and all future machinery whether lying stored and kept & whether in possession & control of company wherever lying stored & kept including all goods, movables & other such assets as may be in the course of shipment, transit or delivery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest payable as may be decided by the bank from time to time Margin to be maintained at such rates as stipulated by the bank from time to time Individual limits within the aggregate amount secured to be decided between the company and bank from time to time Security created by way of first charge and to cover principal amount together with interest and other costs |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Kandivali Industrial Estate, Kandivali, Bombay |
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6) Date and brief description of instrument modifying the charge |
Two Agreements for the grant of small industrial advance dated 22.03.2004 [One for Letter of Credit Guarantees and Indemnities and another for Hypothecation of goods, book debts, movables and other assets] |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The amount secured by charge stands modified to Rs. 41.000 millions |
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Name of the company |
TRANSWEIGH [INDIA] LIMITED |
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Presented By |
TRANSWEIGH [INDIA] LIMITED |
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1) Date and description of instrument creating the change |
General Agreement for grant of small industrial advances and hypothecation of movables, book debts, and other assets dated 19.08.1996 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 51.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present & future goods, book debts, movables, and other assets, such as outstanding money, receivables, claims, bills, invoices, documents, contracts, engagements, securities, investments and rights in the present and all future machinery whether lying stored and kept & whether in possession & control of company wherever lying stored & kept including all goods, movables & other such assets as may be in the course of shipment, transit or delivery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest payable as may be decided by the bank from time to time Margin to be maintained at such rates as stipulated by the bank from time to time Individual limits within the aggregate amount secured to be decided between the company and bank from time to time Security created by way of first charge and to cover principal amount together with interest and other costs |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Kandivali Industrial Estate, Kandivali, Bombay |
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6) Date and brief description of instrument modifying the charge |
Two Agreements for the grant of small industrial advance dated 22.03.2004 [One for Letter of Credit Guarantees and Indemnities and another for Hypothecation of goods, book debts, movables and other assets] |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The amount secured by charge stands modified to Rs. 41.000 millions |
WEBSITE DETAILS
Profile :
TRANSWEIGH (India) Limited, Mumbai is a Joint Venture Company with Pfister GmbH, Germany since 1987 and has been manufacturing wide range of Industrial Weighing Equipments.
This Joint Venture helped TRANSWEIGH, gain the experience of handling various material so as to achieve the symbiosis of understanding specific needs of different industries.
TRANSWEIGH now provides the Indian Industry, benefits of Research and Development of one of the leading European Companies in the field of Industrial Weighing.
The core strength of their company has always been their ability to integrate their standard products effectively into a system and innovate where necessary to provide "one of" solutions. This has also helped them in exports of their systems to Germany, England, France, various South-East Countries and Peru.
One of their biggest order was the Videocon Narmada Electronics Limited (VNEL) amounted to Rs. 240 millions. This ?Glass Batch Plant? was awarded to them on a Turnkey Job.
The Philosophy of their company
The following statements encompass the philosophy in terms of values, vision
and beliefs.
The business of their business is ensuring increasing customer satisfaction through the products and technologies that we sell.
The core competency of the organization consists of its expertise and experience in Dynamic-weighing and Bulk Material Handling.
The company’s growth and well-being are intertwined with the progress and prosperity of all its employees and those associated with it.
The values of the organization are to be reflected in its day-to-day operations and working; that is, in the end the spiritual cannot be separated from the empirical.
Integrity and Competence cannot be substituted by ?Cleverness? and ?Drive?.
Network :
Pfister Holding GmbH
Phone: +49 (0) 821 / 7949-528
Telefax: +49 (0) 821 / 7949-524
E-mail: holding@pfister.de
Pfister GmbH
Phone: +49 (0) 821 / 7949-0
Telefax: +49 (0) 821 / 7949-270
E-mail: sales@pfister.de
Pfister Waagen GmbH
Phone: +49 (0) 821 / 7949-0
Telefax: +49 (0) 821 / 7949-245
E-mail: marketing@waagen.pfister.de
Stalinger Str. 70 D-86165 Augsburg (Germany)
P.O. Box 41 01 20 D-86068 Augsburg (Germany)
Internet: www.pfister.de
CMT REPORT
(Corruption, Money Laundering & Terrorism]
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.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|