MIRA
INFORM REPORT
|
Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
PEPCO
MACHINERY PRIVATE LIMITED |
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Registered Office : |
4,
Ripon Street, Kolkata – 700016, 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 : |
09.11.1992 |
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Com. Reg. No.: |
26-56944 |
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CIN No.: [Company
Identification No.] |
U51396WB1992PTC056944 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALP03518E |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To assemble,
buy, sell, exchange, work, alter, improve, import export and / or otherwise
deal in whether as principals, agents, broker or otherwise of Pulp and paper
making machinery and auxiliary systems including Hood & Vetilation System
Steam and Condensate System, Lubricant System, Vacuum Systems, etc and/ or
its parts or accessories or allied products and to carry on the business of
designing, engineering, planning and modifying or setting up Pulp and Paper
Making Machinery. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
5000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a small company in its field.
Directors are reported as experienced, respectable and having
satisfactory means of their own.
Their trade relations are fair.
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 : |
4,
Ripon Street, Kolkata – 700016, West Bengal |
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Tel. No.: |
91-33-22293950 |
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Mobile : |
91-9830059390 |
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E-Mail : |
pkbhattamishra@vsnl.com |
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Website : |
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Corporate
Office : |
135,
Princep Street, Kolkata – 700072, West Bengal, India |
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Tel.
No.: |
91-33-24360414 |
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Mobile
: |
91-9830059390 |
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Fax
No.: |
91-33-24360414 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr. P.
K. Bhattamishra |
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Designation : |
Director
|
|
Address : |
Flat
No. 48, ‘Kenok’, J – 383, B P Township, Kolkata – 700094, West Bengal, India |
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Date of Birth/Age : |
17.12.1949 |
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Date of Appointment : |
09.11.1992 |
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Election Commission Identify Card No. : |
WB/23/151/459188 |
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|
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Name : |
Mr. N.
Bhattamishra |
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Designation : |
Director
|
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Address : |
Flat
No. 48, ‘Kenok’, J – 383, B P Township, Kolkata – 700094, West Bengal, India |
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Date of Appointment : |
09.11.1992 |
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Election Commission Identify Card No. : |
WB/23/151/459187 |
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|
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Name : |
Mrs.
Minakshi Bhattamishra |
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Designation : |
Director
|
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Address : |
88,
Regent Estate, Kolkata – 700092, West Bengal, India |
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|
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Name : |
Mr.
Subrata Som |
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Designation : |
Director
|
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Address : |
B/4,
Bapuji Nagar, Kolkata – 700092, West Bengal, India |
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|
|
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Name : |
Mr.
Surajit Dasgupta |
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Designation : |
Director
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MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr. N.
Bhattahishra |
|
6300 |
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Mr.
Subrata Som |
|
1100 |
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Mr. K.
P. Bhattahishra |
|
2600 |
BUSINESS DETAILS
|
Line of Business : |
To
assemble, buy, sell, exchange, work, alter, improve, import, export and / or
otherwise deal in whether as principals, agents, broker or otherwise of Pulp
and paper making machinery and auxiliary systems including Hood &
Vetilation System Steam and Condensate System, Lubricant System, Vacuum
Systems, etc and/ or its parts or accessories or allied products and to carry
on the business of designing, engineering, planning and modifying or setting
up Pulp and Paper Making Machinery. |
|
|
|
|
Products : |
Paper
Machine Components Inspection
& Quality Control Systems Finishing
House Equipment Consumables |
GENERAL
INFORMATION
|
No. of Employees : |
12 |
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Bankers : |
Indian
Overseas Bank |
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Banking Relations : |
-- |
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Auditors : |
K. Roy
& Company Chartered
Accountants, 4,
Ripon Street, Kolkata – 700016, West Bengal, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
20000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.200 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
|
0.100 |
0.100 |
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|
2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.771 |
0.607 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
0.871 |
0.707 |
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
|
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
|
0.871 |
0.707 |
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.048 |
0.027 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
|
0.000 |
0.000 |
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Cash & Bank Balances |
|
0.397 |
0.200 |
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Other Current Assets |
|
0.201 |
0.101 |
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Loans & Advances |
|
0.399 |
0.382 |
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Total Current Assets |
|
0.997 |
0.683 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
|
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Current Liabilities |
|
0.075 |
0.005 |
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|
Provisions |
|
0.230 |
0.155 |
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Total Current Liabilities |
|
0.305 |
0.160 |
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Net Current Assets |
|
0.692 |
0.523 |
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MISCELLANEOUS EXPENSES |
|
0.131 |
0.157 |
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TOTAL |
|
0.871 |
0.707 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 [Estimated] |
31.03.2005 [Estimated] |
|
Sales Turnover [including other income] |
|
3.000 |
2.800 |
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Profit/(Loss)
Before Tax |
|
N.A. |
N.A. |
|
Provision
for Taxation |
|
N.A. |
N.A. |
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Profit/(Loss)
After Tax |
|
N.A. |
N.A. |
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Total
Expenditure |
|
N.A. |
N.A. |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.35 |
0.22 |
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|
|
|
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Current
Ratio (Current
Asset/Current Liability) |
|
|
3.26 |
4.26 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE
DETAILS
Paper industry in India offers new opportunities and challenges - both to the suppliers of technology, machinery, or consumables and to the Indian paper mills, whose needs for higher productivity and quality are manifold. PEPCO - for Products, Engineering, Projects and Consultancy - in Paper industry, strives to build bridges between the global supplier and the Indian paper mill.
Offering a variety of products ranging from paper machines to core plugs of reputed manufacturers from different parts of the world, it is always on the lookout for products that will add competitiveness to the Indian paper producer. The founder of PEPCO has been intimately associated with the Indian Paper industry for over two and half decades in various capacities, in a career marked by innovation and new initiatives. This uniquely qualifies PEPCO to perceive the changing needs of the Indian Paper industry, in fact to anticipate them.
Consultancy services offered by PEPCO include marketing consultancy, due diligence studies and detail engineering, besides used machinery related support.
Overview
PEPCO Machinery Private Limited was founded by Prabhat Bhattamishra - a Mechanical Engineer with extensive experience in Marketing and Project Management in paper machine building industry. Apart from handling a large number of paper machine projects (both new and rebuilds), he also successfully set up a green-field engineering unit to manufacture paper machinery.
His intimate association with the Indian paper industry over two and half decades in a career marked by innovation and new initiatives, enables PEPCO to perceive the changing needs of this industry, in fact, to anticipate them.
PEPCO identifies new products to enhance productivity and competitiveness and finds a niche in the Indian paper industry for effective marketing. Today, PEPCO offers a variety of products ranging from critical paper machine components, to core plugs, to inspection systems of reputed manufacturers from different parts of the world.
PEPCO offers a range of consultancy services, including market development and due diligence studies, detail engineering and has undertaken several assignments since it began operations in 1997.
PEPCO also offers used machinery, including dismantling and shipping services through its close association with ProServInternational GmbH, Germany.
1997 – Engineering Supervision for Kahrizek Paper Mill, Iran – Expansion project
1998 – Market Development Consultancy for Uni Process AB, Sweden for SCADA
Systems
2000 - 01 – Market Development assistance to North Forest Products Ltd.,
Australia for Eucalyptus chips
2001 – detail engineering for re-vamping of approach-flow system at Sun Paper
2002 – Introduction of environment-friendly Core Plugs from Polima, Sweden in
Indian paper mills
2004 – Due Diligence studies on behalf of State Bank of India for expansion
projects of 2 paper mills
2005 – Introduction of Unilux (USA) Strobe lights in Indian paper mills
PROFILE
Mr. Prabhat Bhattamishra, Director
Education
|
Mechanical Engineering, Indian Institute of
Technology, Kharagpur, India |
|
|
First class Honours Graduate |
1971 |
Professional
Experience
|
CEO - PEPCO Machinery Private Limited - own
marketing and engineering consultancy venture |
Jan. '97 – till
date |
|
Country Manager of Gebr. Bellmer GmbH, Germany, leading
Paper machine builder of Europe, to assist them set up a JV in India |
Sept. ‘94 - Dec.
‘96 |
|
Executive Vice President and General Manager
with Khaitan Paper Machines Limited, Kolkata, India, a new green-field
engineering unit |
Dec. ‘89 - Aug. ‘94 |
|
In various capacities in manufacturing,
design and project engineering and marketing departments with Larsen & Toubro Limited,
the largest Engineering Company of India. Last position held - Sales Development Manager |
July ‘71 - Nov. ‘89 |
Significant Achievements
Conceptualizing,
planning and implementing a green-field engineering company to undertake
paper machine projects.
Successfully
introducing the concept of total rebuild of paper machines to effect
substantial hike in capacity, significant quality up gradation and high
productivity. This is now a major trend in the Indian Paper industry.
Developing and
implementing the concept of centralised stock preparation system for
various mills having several paper machines.
Handled several large
contracts for modernisation and expansion projects of various Indian paper
mills.
Details of Professional Experience
With Gebr. Bellmer GmbH (1994 - 96) - The assignment was to position Bellmer as a
dependable partner for Paper machine rebuild projects and Specialty paper
projects and to create the framework for a Joint Venture with a leading Indian
machine builder.
With Khaitan Paper Machines Limited (1989 - 94) - Conceptualised, planned, and successfully
implemented the Rs. 75 million green field project with Institutional funding
and public issue.
Developed a niche
market of Paper machine rebuilds and successfully positioned KPM as the leading
player. Executed the rebuild projects involving 3 machines of the leading
specialty paper producer in Eastern India.
With Larsen & Toubro Limited (1971 - 89) - In various capacities in Manufacturing,
Engineering, Projects and Marketing in a career marked by several new
initiatives like :
Finding new
applications for equipment
Breaking into new
markets and bringing in new customers
Introducing new concepts
like centralised stock preparation system, total rebuild etc.
Planning and
implementing a Newsletter for circulation in the industry (highly acclaimed),
besides handling several large contracts from tendering through
execution.
Details of Some of Major
Contracts
Modernisation and
Rebuild of 3 paper machines for a Specialty paper producer in eastern India -
value DM 9.5 Million plus Rs. 72 Million
Approach flow systems
and paper machines for the largest bamboo based plants in India - value Rs. 210
million
Major rebuild with
substantial capacity hike of a fine printing paper machine for the largest
paper group in India - value Rs. 120 Million
First straw pulp based
high speed paper machine to produce quality writing and printing paper - value
Rs. 85 Million
Rebuild of oldest fine
printing paper machine to suit different raw material mix - value Rs. 10
million.
Products
Auto Guides &
Stretchers
Automatic Pope Reels
Bow Rolls – Variable
and Fixed Bow
Calender stacks
Coating systems
Cylinder Moulds
Dandy Roll
Embossing and
Engraving Rolls
Head boxes
Infra Red Dryers for
coating drying
Edge moisture
correction & Profiling
Pressure Formers
Press Rolls including
Marking Press, Size Press Rolls
Rope Run Systems
Shoe Press Sleeves
Showers – HP and
Oscillating
Silent Drive system
for Dryer Sections
Tail Cutters
Top Wires/ Formers
Transfer / Stabilizing
Vacuum Boxes
Inspection
& Quality Control Systems
Break Detection
Systems – Real Time
Hole Detection Systems
Porosity Measurement
Systems – On-line
Roll Measurement &
Motion Control Systems for Roll Grinders
Stroboscopic
Inspection Lights
Web Monitoring Systems
– CCD based
Web Edge tracking
Systems
Slitter Rewinders
including upgradation
Reel Handling Systems
Lowerators
Palletizing Systems
Order Picking Systems
Core Plugs
Core Pipes
Eucalyptus Chips
Pulp
Roll Servicing
including servicing of Bow Rolls
Roll Grinder
Up-gradation
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 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.44.09 |
|
UK
Pound |
1 |
Rs.86.59 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|