MIRA
INFORM REPORT
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Report Date : |
23.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
FRANCIS KLEIN AND COMPANY PRIVATE LIMITED |
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Registered Office : |
Om Towers, 7th Floor, 32, Jawaharlal Nehru
Road, Kolkata – 700 071, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.12.1953 |
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Com. Reg. No.: |
21-21370 |
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CIN No.: [Company
Identification No.] |
U99999WB1953PTC021370 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALF00705F |
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PAN No.: [Permanent
Account No.] |
AAACF3913G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Acts as an agent – importer of Machine Tools and other related
Accessories. Subject is engaged in
dealing in Computer Hardware, Software and Stationery. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 470000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and financially strong company having
satisfactory track records. Financial position is good. Payments are correct and
as per commitments. Nothing adverse reported. The company can be regarded as a promising business partner in a
medium to long – run. |
LOCATIONS
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Registered / Head Office : |
Om Towers, 7th Floor, 32, Jawaharlal Nehru Road,
Kolkata – 700 071, West Bengal, India |
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Tel. No.: |
91-33-22171926/27/28 |
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Fax No.: |
91-33-22171540 |
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E-Mail : |
raj.agrawal@franciskleinindia.com g.agrawal@franciskleinindia.com cproy1934@yahoo.co.in |
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Website : |
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Area : |
4000 sq. ft. |
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Location : |
Rented [Commercial] |
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Factory : |
27-A, 2nd Phase, Penanya Industrial Area, Bangalore – 560 058, Karnataka |
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Tel. No.: |
91-80-28397201/28371358 |
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Fax No.: |
91-80-28392797 |
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E-Mail : |
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Showroom : |
13-A, Government Place East, Kolkata – 700 069, West Bengal |
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Tel. No.: |
91-33-22486117/2981 |
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Branches : |
· 70/1, Mission Road, T. Nagar, Bangalore – 560 027, Karnataka Tel. 91-80-22272781/2 Fax. 91-80-22276324 E-mail. fklein@vsnl.com · 1-C, Royal Court, 41, Venkatanarayana Road, T. Nagar, Chennai – 600 017, Tamilnadu Tel. 91-44-24341242/1437/5146 Fax. 91-44-24347946 E-mail. fkmad@fk.gems.vsnl.net.in · Flat # 109, Kushal Towers, 6-2-975, Khairatabad, Hyderabad – 500 004, Andhra Pradesh Tel. 91-40-23314942/23397265/23374461 Fax. 91-40-23314568/23545316 E-mail. Efcoind@hd2.dot.net.in · 92-93, C Wing, Mittal Court, Nariman Point, Mumbai – 400 021, Maharashtra Tel. 91-22-22834406/4632/2282/5007 Fax. 91-22-22870168 E-mail. fkbom@bom7.vsnl.net.in · 203, Aurobindo Place, Commercial Complex, Hauz Khas, New Delhi – 110 016 Tel. 91-11-26513325/3345/26867281/82 Fax. 91-11-26862983 E-mail. fkdel@mantraonline.com · Flat # 5, Soba Nook Apartment, 2nd Floor, S # 1194+24+25/26, Plot # 4, Bhamdurda A, Off Ghole Road, Shivaji Nagar, Pune – 411 005, Maharashtra Tel. 91-20-25539770/9156 Fax. 91-20-25539771 E-mail. francis@pn2.vsnl.net.in |
DIRECTORS
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Name : |
Mr. Ghanshyam Agarwal |
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Designation : |
Managing Director |
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Address : |
16, Ballygunj Park Road, Kolkata – 700 019, West Bengal |
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Date of Birth/Age : |
13.07.1948 |
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Date of Appointment : |
26.07.2002 |
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PAN No. : |
ADHPA4092L |
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Qualification : |
M. S. Management Engineering, USA |
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Name : |
Mr. Raj Kumar Agarwal |
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Designation : |
Whole Time Director |
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Address : |
16, Ballygunj Park Road, Kolkata – 700 019, West Bengal |
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Date of Birth/Age : |
17.10.1955 |
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Qualification : |
B. Com, Post Graduate, Diploma in Export Marketing and
Procedures (IIFT) |
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Date of Appointment : |
01.07.1982 |
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Other Directorships
: |
Revati Industries (Properties) Private Limited Spiromag Gear Systems Private Limited |
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PAN No. : |
ADAPA7827L |
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Name : |
Mr. Chintamaneni Roy Parthasaradhi |
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Designation : |
Director |
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Address : |
8-2-269/3/6, Road No. 2, Banjara Hills, Hyderabad – 500034, Andhra
Pradesh, India |
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Date of Birth/Age : |
10.09.1934 |
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Date of Appointment : |
19.11.2001 |
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PAN No. : |
AAVPK77275 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Ashok Kumar Adukia |
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24960 |
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Mr. Arun Kumar Adukia |
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24960 |
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Ms. Santra Devi Kedia |
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1020 |
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Mr. Ghanshyam Agrawal |
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116765 |
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Mr. Raj Kumar Agrawal |
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133725 |
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Ms. Keshar Devi Agrawal |
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8400 |
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Mr. Saroj Agrawal |
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61200 |
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Ms. Kusum Agrawal |
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3204 |
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Mr. Nikhil Agrawal |
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53760 |
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Mr. Arun Kumar Kedia |
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500 |
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Ms. Asha Agrawal |
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113200 |
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Mr. Anil Agrawal |
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59206 |
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Mr. Mukesh Kedia |
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500 |
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Mr. Prashant Goyal |
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1000 |
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Revati Industries Private Limited |
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30 |
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Mr. Gaurav Adukia |
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2960 |
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Mr. Anurag Adukia |
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2880 |
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Ms. Manjula Adukia |
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10880 |
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Mr. Nirmala Adukia |
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6000 |
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Mr. Sushma Adukia |
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8000 |
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Ms. Prema Devi Adukia jointly with Mr. Shiv Kumar Adukia |
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6640 |
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Mr. Prema Devi Aduki jointly with Mr. Ajay Kumar Adukia |
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12800 |
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Mr. Shashi Kumar Agrawal |
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4000 |
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Mr. Ajay Kumar Adukia |
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14240 |
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Mr. Shiv Kumar Adukia |
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20400 |
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Ghanshyam Agrawal [HUF] |
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2000 |
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Raj Kumar Agrawal [HUF] |
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2000 |
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Chandra Prakash Adukia [HUF] |
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4320 |
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Aurn Kumar Adukia [HUF] |
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4320 |
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Ashok Kumar Adukia [HUF] |
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4320 |
As on 31.03.2006
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Names of Shareholders |
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% of Shares |
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Directors or relatives of directors |
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77.61 |
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Other top fifty shareholders |
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22.39 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Acts as an agent – importer of Machine Tools and other
related Accessories. Subject is
engaged in dealing in Computer Hardware, Software and Stationery. |
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Agencies Held : |
· Beche and Grohs GmbH, Hueckeswagen Rhld · Dango and Dienenthal Maschinenbau GmbH, Ludwigshafen · Index Verkaufs GmbH, Esslingen · Instron Wolpert GmbH, Ludwigshafen · ITW Heartland, 1205, 36th Avenue West Alexandria, MN 56308 USA Tel. (320) 762-8782 Fax. (320) 762-5260 E-mail. itwgears@itwgears.com · Klingelnberg – Oerlikon Geartec Vertiebs GmbH, Kempten · Maschinenfabrik Lorenz GmbH, Ettlingen · Nagel Maschinen-und Werkzeugfabrik GmbH, Nuertingen · Nomoco Maschinenbau GmbH and Company KG, Darmstadt · Petewe Werkzeugmaschinenfabrik GmbH, Wertheim · Praewema Werkzeugmaschinenfabrik GmbH, Eschwege · SLO-SYN, USA · Superior Electric, USA · Walter AG, Tuebingen · Warner Electric (Division of Dana Corporation), USA · Warner Electic GmbH, Nuertingen · W. Hegenscheidt GmbH Werkzeugmaschinenfabrik, Erkelenz |
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Imports : |
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Countries : |
Germany, Switzerland, UK and USA |
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Terms : |
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Selling : |
Contract and Credit |
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Purchasing : |
Contract and Credit |
GENERAL
INFORMATION
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Suppliers : |
· Beche and Grohs GmbH, Hueckeswagen Rhld · Dango and Dienenthal Maschinenbau GmbH, Ludwigshafen · ITW GmbH, Esslingen · Instron Wolpert GmbH, Hueckeswagen · ITW Heartland, 1205, 36th Avenue West Alexandria, MN 56308 USA · Klingelnberg Soehne, Remscheid · Liebherr – Verzahntechnik GmbH, Kempten · Maschinenfabrik Lorenz GmbH, Ettlingen · Nagel Maschinen-und Werkzeugfabrik GmbH, Nuertingen · Nomoco Maschinenbau GmbH and Company KG, Darmstadt · Petewe Weerkzeugmaschinenbau · Praezisionstechnik GmbH, Wertheim · Petewe Werkzeugmaschienbau · Praezisionstechnik GmbH, Wertheim · Praewema Werkzeugmaschnenfabrik AG, Tuebingen · Warner Electric (Division of Dana Corporation) USA · Warner Electric GmbH, Nuertingen · W. Hegenschidt GmbH Werkzeugmaschinenfabrik, Erkelenz, etc. |
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Customers : |
Manufacturers · Precision Transmatic Services Private Limited B-48, MIDC, Satara – 415 004 Fax. 91-2162-244204 |
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No. of Employees : |
100 |
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Bankers : |
ABN Amro Bank N.V. 4, Russell Street, Kolkata – 700 071, West Bengal Canara Bank 2, Brabourne Road, Kolkata – 700 001, West Bengal |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Salarpuia Jajodia and Company Chartered Accountants |
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Address : |
7, Chittaranjan Avenue, Kolkata – 700 072, West Bengal |
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Parent Company : |
Agarwal Group Company |
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Associates : |
· Gerb Vibration Control Systems Private Limited · Nagel Special Machines Private Limited 27-A, 2nd Phase, Penanya Industrial Area, Bangalore – 560 058 Tel. 91-80-28397201/28371358 Fax. 91-80-28392797 E-mail. nagel@satyam.net.in · Revati Industries (Properties) Private Limited · Spiromag Gear Systems Private Limited · Statomat Special Machines (India) Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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780000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.800
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.800 |
7.800 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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111.400 |
100.513 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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119.200 |
108.313 |
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LOAN FUNDS |
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1] Secured Loans |
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0.821 |
0.570 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.821 |
0.570 |
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DEFERRED TAX LIABILITIES |
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2.320 |
2.442 |
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TOTAL |
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122.341 |
111.325 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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26.738 |
23.804 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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71.093 |
52.146 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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27.816 |
11.456 |
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Sundry Debtors |
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60.213 |
47.253 |
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Cash & Bank Balances |
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9.130 |
13.320 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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52.435 |
49.452 |
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Total
Current Assets |
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149.594 |
121.481 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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55.944 |
25.802 |
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Provisions |
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69.140 |
60.304 |
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Total
Current Liabilities |
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125.084 |
86.106 |
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Net Current Assets |
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24.510 |
35.375 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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122.341 |
111.325 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.05 |
0.80 |
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Current Ratio (Current Asset/Current Liability) |
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1.19 |
1.41 |
LOCAL AGENCY
FURTHER INFORMATION
The company has joint venture with :-
· Dango and Dienethal (India) Private Limited, Kolkata, West Bengal
(Manufacture of Blast Furnace Equipment for Steel Plants)
· Efco Machinenbau India Private Limited, Hyderabad (Valve Repair Machines and Service Centre for Valves)
· Gerb Vibration Control Systems, Bangalore, Karnataka
(Manufacture of Vibration Isolation System)
· Nagel Special Machines Private Limited, Bangalore, Karnataka
(Manufacture of Honing, Gun Drilling and Superfinishing Machines)
· Statomat India, Navi Mumbai
(Special Purpose Machines for Electric Motor Industry)
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.40.97 |
|
UK Pound |
1 |
Rs.82.18 |
|
Euro |
1 |
Rs.56.91 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
8 |
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OPERATING SCALE |
1~10 |
8 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
8 |
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--LIQUIDITY |
1~10 |
8 |
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--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
8 |
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--CREDIT LINES |
1~10 |
8 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
72 |
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 |
|