MIRA
INFORM REPORT
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Report Date : |
16.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
BURCKHARDT
COMPRESSION [INDIA] PRIVATE LIMITED |
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Registered Office : |
Gat
No. 304, Pune – Nagar Road, Village Kondhapuri, Taluka Shirur, Pune District,
Pune – 412209, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
25.06.2004 |
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Com. Reg. No.: |
25-19442 |
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CIN No.: [Company
Identification No.] |
U29120PN2004PTC019442 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEB03947G |
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PAN No.: [Permanent
Account No.] |
AAGFB2614K |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturers of reciprocating compressors. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
New
Company |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and in the process of establishing itself. Directors are reported as experienced and
respectable businessmen. Payments are reported as usually correct and as per
commitments. The
company can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered/ Head Office : |
Gat
No. 304, Pune – Nagar Road, Village Kondhapuri, Taluka Shirur, Pune District,
Pune – 412209, Maharashtra, India |
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Tel. No.: |
91-2137-270254
/ 669400 |
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Fax No.: |
91-2137-270232 |
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E-Mail : |
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Website : |
http://www.bc-india.com |
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Regional
Office : |
20,
Bishop Wallers, Avenue [West], C.I.T. Colony, Mylapore, Chennai – 600004,
Tamilnadu, India Tel.
No. : 91-44-24992436 / 2448 Fax
No. : 91-44-24997276 Poddar
Point, A Block, 6th Floor, 113 Park Street, Kolkata – 700016, West
Bengal, India Tel.
No. : 91-33-22276952 Fax
No. : 91-33-22276955 1015-1019,
Ansal Tower, 38, Nehru Place, New Delhi – 110019, India Tel.
No. : 91-11-26294771 / 12 / 26440869 Fax
No. : 91-11-26294226 Plot
No. 219, GIDC Ranoli, District Vadodra – 391350, Gujarat Tel.
No. : 91-265-6451670 / 78 Fax
No. : 91-265-2243972 |
DIRECTORS
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Name : |
Mr.
Balaji Thiruvadanthi Bakthisaran |
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Designation : |
Additional
Director |
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Address : |
D /
30, Mantri Kishor Park, Bhosale Nagar, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
22.05.1960 |
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Date of Appointment : |
01.03.2006 |
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PAN No. : |
00122523 |
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Previous Employment : |
Enginvest
India Limited – Director CIN
No. : U65923PN1994PLC078067 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of reciprocating compressors. |
GENERAL INFORMATION
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Bankers : |
State
Bank of India Industrial
Finance Branch, Tara
Chambers, Wakdewadi, Pune – 411003, Maharashtra, India |
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Banking Relations : |
-- |
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Auditors : |
Price
Waterhouse and Company Chartered
Accountants, 252,
Veer Savarkar Marg, Shivaji Park, Dadar, Pune – 400028, Maharashtra, India PAN
No. : AADFP9359C |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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10000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 100.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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2000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 20.000 millions |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Particular for creation or modification of charges
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Corporation identity number or foreign company registrations number of the company |
U29120PN2004PTC019442 |
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Name of the company |
BURCKHARDT
COMPRESSION [INDIA] PRIVATE LIMITED |
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Address |
Gat
No. 304, Pune – Nagar Road, Village Kondhapuri, Taluka Shirur, Pune District,
Pune – 412209, Maharashtra |
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This Form is for |
Modification
of charge |
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Type of Charges |
Book Debts, Movable Property and others If others, specify Current Assets |
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Particular of the charge holder |
State
Bank of India Industrial
Finance Branch, Tara Chambers, Wakdewadi, Pune – 411003, Maharashtra, India |
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Nature or description of the instrument creating charge |
Supplemental Agreement of Hypothecation of Goods and Assets for Increase in Overall limit |
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Date of the instrument creating charge |
21.12.2006 |
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Amount Secure by the charge |
Rs. 105.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
1% above existing cash credit Interest Rate Terms of repayment : Loan should be repaid in 90 days Margin : Raw materials Ind/Imp. 25%, stock in process 25%, finished goods 25%, book debts 25% Ad Hoc LC/BG at Existing Level Extent and operation of the charge : Charge will be in operation till repayment or 90 days which ever is earlier |
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Particulars of the Property charged |
Raw materials & stores, book debts, stocks in process, finished goods |
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Particulars of the present modification |
Memorandum of agreement made on 21st December, 2006, Limit sanctioned of Rs. 40 millions for a period of 90 days |
WEBSITE
DETAILS
Burckhardt
Compression, a world leader in reciprocating compressor technology
Burckhardt Compression is one of the world's largest
manufacturers of reciprocating compressors. The company is recognized as the
only compressor manufacturer of a complete range of Laby® (labyrinth piston),
process gas, and hyper compressors. The compressors are engineered and
manufactured in the company’s own works in Winterthur, Switzerland, (in
accordance with ISO 9001:2000 standards) and Pune, India. Burckhardt
Compression’s global sales and service network consists of 12 subsidiaries and
over 42 representatives.
Customers of Burckhardt Compression are companies in the
field of oil refining, chemical and petrochemical industries, air separation,
as well as gas transport and storage. These industries use compressors to raise
the pressure, to reduce the volume and to cool or liquefy gases such as
hydrocarbon gases, industrial gases and boil-off gases.
Burckhardt Compression’s worldwide service network
ensures the full range of customer support service. Experts with on-going
training have expertise in each particular compressor application and can
provide the necessary service, such as analysis of compressor performance,
complete plant overhaul, consultation, or fulfilling extensive maintenance
contracts.
Burckhardt Compression offers unparalleled expertise and
reliability for all reciprocating compressors, components and services. The
company is recognized as the global technology leader in the compressor world.
As an original equipment manufacturer with over 160 years of experience in
developing, engineering and manufacturing compressors, Burckhardt Compression
is committed to reliability and quality.
Key Figures Burckhardt Compression Worldwide
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CHF millions |
April 05 - March
06 |
April 05 - Sept 05 |
April 06 - Sept 06 |
Change 2005/2006 |
|
Order intake |
323.5 |
142.6 |
215.5 |
+ 51% |
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Sales revenues |
210.4 |
111.6 |
119.5 |
+ 7% |
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EBIT revenues |
29.6 |
14.4 |
24.8 |
+ 72% |
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Profit for the year as % of sales revenues |
22.1 |
10.8 |
17.8 |
+ 65% |
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Total assets |
181 |
163.4 |
220.7 |
+ 35% |
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Shareholders' equity |
66.1 |
53.5 |
85.1 |
+ 59% |
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Headcount |
638 |
628 |
676 |
+ 6% |
Company Milestones
2006
On
June 26, Burckhardt Compression Holding AG is listing its shares at the SWX
Swiss Exchange.
2005
Acquisition
of the compressor division of Sulzer India Limited
2002
The company becomes legally independent through a management buyout,
Engineering Works Sulzer-Burckhardt Limited becomes Burckhardt Compression AG
2001
Winterthur becomes the company’s domicile
2001
Divestiture of standard high-pressure compressor business to Nord Holding,
Germany; the business activities continue under the name Greenfield Limited
2000
Divestiture of vacuum systems business to Onpro AG, Switzerland; the business
activities continue under the name NSB Gas Processing Limited
2000
Consolidation of all business activities in Winterthur; manufacturing
facilities and offices in Basel closed-down
1999
World's most powerful hyper compressor with 23'500 kW
1990
Relocation of the Winterthur workshop and offices to Oberwinterthur
1982
The Sulzer group's entire range of reciprocating compressor activities are
amalgamated into a single business unit entitled Sulzer–Burckhardt Engineering
Works Limited
1969
The company Engineering Works Burckhardt becomes part of the Sulzer Group;
there are now two sites: Basel and Winterthur (Switzerland)
1952
First hyper compressor for ldPE production at 1'500 bar
1948
Hyper compressor with an end pressure of 4000 bar for a pilot plant in the USA
1935
First labyrinth piston compressor (Laby®)
1920
Start of development of ammonia synthesis compressors for 850 bar (Casale
process) and 1000 bar (Claude process)
1890
Relocation to Dornacherstrasse, Basel; establishment as “Engineering Works
Burckhardt, Limited Company”
1883
First compressor sale
1878
Compressors and vacuum pumps enter the product range
1876
August Burckhardt-Schaub becomes the head of the reconstituted business,
Burckhardt & Co., a limited partnership; sale of foundry
1844
Establishment of the company “Franz Burckhardt, mechanic” in Basel
(Switzerland)
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.4.09 |
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UK
Pound |
1 |
Rs.86.59 |
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Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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30 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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