MIRA
INFORM REPORT
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Report Date : |
06.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
EMPIRE
MACHINE TOOLS – DIVISION OF EMPIRE INDUSTRIES LIMITED |
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Registered Office : |
414, Senapati Bapat Marg, Mumbai - 400 013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
17.10.1990 |
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Com. Reg. No.: |
176 |
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CIN No.: [Company
Identification No.] |
L17120MH1900PLC000176 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME04628B |
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PAN No.: [Permanent
Account No.] |
AAACE2757R |
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Legal Form : |
Public limited liability company. The company's shares are listed on the Stock Exchanges. |
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Line of Business : |
Manufacturing of Glass Bottles, Cranes,
Industrial Equipments, OC Filters, Bleach Washers and Brown Stock
Washers. It also acts as Traders and
Commission Agents. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD
1000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a diversified, old established company having fine track. Trade relations
are fair. Payments are correct and as per commitments. The company has
invaluable real estate whose current price can be magnanimous (huge) in
realty dealings. The
company can be considered good for nay normal business dealings. It can
be regarded as a promising business partner in a medium to long-run. |
LOCATIONS
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Registered Office : |
414, Senapati Bapat Marg, Mumbai - 400 013, Maharashtra, INDIA. |
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Tel. No.: |
91-22-2493 4170/ 2493 7340/ 2493 8411/ 4203/ 66555453 |
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Fax No.: |
91- 22-24935363/ 2493 9143/ 7203 |
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E-Mail : |
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Website : |
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Head
Office : |
Mumbai [Head Office] EMPIRE MACHINE TOOLS- MFTM Division, Empire House, 414,, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013 (India) Phone
: 91-22- 66534900 |
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Factory
1 : |
Empire Dyeing 414, Senapati Bapat
Marg, Mumbai - 400 013, Maharashtra, INDIA. |
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Factory
2 : |
Vitrum Glass L B Shastri Marg, Vikhroli, Mumbai - 400 083, Maharashtra, INDIA. |
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Tel.
No.: |
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Factory
3 : |
Garlick Engineering MIDC Industrial Area, Engineering Zone, Ambernath, Maharashtra, India. Plot No. 5905/4, GIDC, Ankleshwar 393
002, Gujarat, India. |
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Branches
: |
CHENNAI EMPIRE MACHINE TOOLS- MFTM Division, 546 Mount Road, Teynampet, Chennai - 600 018 Phone
: 91-44-24332904, 24349679 BANGALORE Empire Machine Tools- MFTM Division, 142, Infantry Road, Phone
: 91-80-22867682, 22863052, 22861541 KOLKATA Empire Machine Tools- Mftm Division, Everest House,15th floor, 46/C, Jawaharlal Nehru Road, Kolkata -700 071 Phone
: 91-33-22887020, 22888677, 22886482 NEW DELHI Empire Machine Tools- Mftm Division, Flat "D", 6th Floor, Vandana Building, 11 Tolstoy Marg, New Delhi - 110 001 Phone
: 91-11-23314389, 23313832, 23324630 HYDERABAD Empire Machine Tools - MFTM Division, Plot No.56, Ground Floor, Phone : 91-40-27801040, 27801284 Fax : 91-40-27801285 E-mail : hyd1_empire@sancharnet.in |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr. S C Malhotra |
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Designation : |
Chairman |
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Name : |
Mr. Ranjit Malhotra |
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Designation : |
Vice Chairman |
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Name : |
Mr. N V Khote |
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Designation : |
Director |
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Name : |
Mr. R A Maskati |
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Designation : |
Director |
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Name : |
Mr. J N Guzder |
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Designation : |
Director |
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Name : |
Mr. F A A Jasdanwalla |
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Designation : |
Director |
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Name : |
Mr. Dileep Malhotra |
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Designation : |
Joint Managing Director |
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Name : |
Mr. S. K. Gulati |
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Designation : |
Director Finance & Company Secretary |
KEY EXECUTIVES
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Name
: |
Mr. S C Malhotra |
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Designation
: |
Chairman |
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Date
of Birth/Age : |
67 years |
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Qualification
: |
Intermediate Arts & Certificate of NDA |
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Experience
: |
51 years |
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Date
of Appointment : |
01/11/65 |
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Previous
Employment : |
Chief Executive - Kohinoor Mills (Division of Killick India Limited Mumbai - 6 years) |
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Name
: |
Mr. Dileep Malhotra |
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Designation
: |
Joint Managing Director |
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Date
of Birth/Age : |
36 years |
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Qualification
: |
B.A., MBA (USA) |
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Experience
: |
10 years |
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Date
of Appointment : |
01.10.1999 |
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Previous
Employment : |
Empire Securities & Capital Limited - Managing Director (3 years) |
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Name
: |
Mr. Ranjit Malhotra |
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Designation
: |
Vice Chairman |
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Date
of Birth/Age : |
43 years |
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Qualification
: |
MBA (USA) |
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Experience
: |
8 years |
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Date
of Appointment : |
01.10.1998 |
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Previous
Employment : |
Empire International Private Limited - Managing Director ( 6 years) |
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Name
: |
Mr. V. B. Mahashabde |
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Designation
: |
Senior Vice President |
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Date
of Birth/Age : |
69 years |
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Qualification
: |
M. Sc., B. Sc. (Tech.) |
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Experience
: |
46 years |
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Date
of Appointment : |
15.03-1967 |
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Previous
Employment : |
Head of Processing Department in Digvijay Mills Limited, Mumbai, Maharashtra (7 ½ years) |
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Name
: |
Mr. H. B. Mathur |
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Designation
: |
Director – Empire Dyeing |
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Date
of Birth/Age : |
67 years |
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Qualification
: |
B. Sc. |
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Experience
: |
45 years |
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Date
of Appointment : |
17.10.1981 |
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Previous
Employment : |
General Manager in Podar Silk & Synthetics Limited, Mumbai, Maharashtra (2 years) |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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Percentage of Holding |
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Promoters |
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56.46 |
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Financial Institutions and Banks |
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19.34 |
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Corporate Bodies |
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12.13 |
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Others |
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12.07 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Glass Bottles, Cranes,
Industrial Equipments, OC Filters, Bleach Washers and Brown Stock
Washers. It also acts as Traders and
Commission Agents. |
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Products : |
Generic Names of Principal Products / Services of the company are:
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PRODUCTION
STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Textile Processing |
Mtrs |
16,00,00,000 |
-- |
-- |
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Bottles |
M.T. |
37,548 |
37,548 |
37,548 |
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Cranes |
Nos. |
220 |
-- |
-- |
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Industrial Equipment |
M.T. |
1,680 |
-- |
-- |
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O.C. Filters, Bleach Washers & Brown Stock Washers |
Nos. |
82 |
-- |
-- |
GENERAL
INFORMATION
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Customers : |
Ø Centor Metalcut Inc. Ø Heinrich Muller Maschinen Fabrik GmbH Ø MG Systems and Welding Inc. Ø Otto Buhler Maschinen Fabrik GmbH and Company KG Ø Platarg Engineering Company Ø Strickop-Westofen GmbH Ø Trumpf GmbH+ company Ø USF Spencer and Halstead Ø W. A. Whitey and Company Ø Carl Ziess Industrielle Messtechnik GmbH Ø Carl Ziess IMT Corporation Ø Romer Ø Imetric S. A. Ø Hek GmbH Ø Horst Witte Greatebau Ø
Mahr GmbH |
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No. of Employees : |
1000 |
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Bankers : |
Ø Indian Bank, Mumbai Ø Allahabad Bank, Mumbai Ø Bank of India, Mumbai Ø Bank of Baroda, Mumbai Ø Central Bank of India, Mumbai |
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Facilities : |
Secured Loans :
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Banking Relations : |
Satisfactory |
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Auditors : |
R. A.
Patel & Company Chartered
Accountants |
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Associates/Subsidiaries : |
Ø Empire Securities & Capital Limited Ø Empire International Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
7050000 |
Equity
Shares |
Rs.10/- each |
Rs.70.500 millions |
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50000 |
Cumulative
Redeemable Preference Shares |
Rs.100/- each |
Rs.5.000 millions |
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Total |
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Rs.75.500
millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
5999998 |
Equity
Shares |
Rs.10/- each |
Rs.59.100 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
59.999 |
59.999 |
60.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
246.369 |
210.642 |
184.900 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
306.368 |
270.641 |
244.900 |
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LOAN FUNDS |
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1] Secured Loans |
47.877 |
85.649 |
142.200 |
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2] Unsecured Loans |
158.364 |
172.523 |
170.900 |
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TOTAL BORROWING |
206.241 |
258.172 |
313.100 |
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DEFERRED TAX LIABILITIES |
18.604 |
21.230 |
0.000 |
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TOTAL |
531.213 |
550.043 |
558.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
562.011 |
524.153 |
496.800 |
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Capital work-in-progress |
0.000 |
0.000 |
0.400 |
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INVESTMENT |
0.045 |
12.046 |
12.200 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
120.430 |
112.302 |
69.900 |
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Sundry Debtors |
202.250 |
232.362 |
242.900 |
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Cash & Bank Balances |
10.768 |
19.226 |
21.700 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
130.313 |
129.497 |
103.500 |
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Total Current Assets |
463.761 |
493.387 |
438.000 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
467.238 |
465.860 |
382.600 |
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Provisions |
27.366 |
13.683 |
6.800 |
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Total Current Liabilities |
494.604 |
479.543 |
389.400 |
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Net Current Assets |
(30.843)
|
13.844 |
48.600 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
531.213 |
550.043 |
558.000 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
1078.477 |
922.308 |
822.100 |
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Profit/(Loss)
Before Tax |
91.870 |
53.653 |
15.200 |
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Provision
for Taxation |
29.023 |
14.347 |
1.200 |
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Profit/(Loss)
After Tax |
62.847 |
39.306 |
14.000 |
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Total
Expenditure |
986.607 |
868.654 |
806.900 |
QUARTERLY
RESULTS
|
PARTICULARS |
|
30.06.2006 |
30.09.2006 |
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Sales Turnover |
|
22.55 |
22.89 |
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Other Income |
|
4.76 |
4.74 |
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Total Income |
|
27.31 |
27.63 |
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Total
Expenditure |
|
22.90 |
23.51 |
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Operating
Profit |
|
4.41 |
4.12 |
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Interest |
|
0.79 |
0.73 |
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Gross Profit |
|
3.62 |
3.39 |
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Depreciation |
|
0.87 |
0.88 |
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Tax |
|
0.97 |
0.93 |
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Reported PAT |
|
1.78 |
1.58 |
200606
Quarter 1
Notes Expenditure Includes (Increase)/Decrease in stock in Trade Rs 23.20 million Consumption of Raw Material Rs 36.30 million Power and Fuel Rs 27.60 million Staff Cost Rs 65.00 million Other expenditure Rs 76.90 million Tax Includes Provision for Current Tax Rs 8.00 million Fringe Benefit Tax Rs 1.70 million Status of Investor Complaints for the quarter ended June 30, 2006 Complaints Pending at the beginning of the quarter 1 Complaints Received during the quarter 0 Complaints disposed off during the quarter l Complaints unresolved at the end of the quarter 0 The above results were taken on record at the meeting of Board of Directors held on July 28, 2006.
200609
Quarter 2
Notes: Status of Investor Complaints for the quarter ended September 30, 2006 Complaints Pending at the beginning of the quarter Nil Complaints Received during the quarter 04 Complaints disposed off during the quarter 04 Complaints unresolved at the end of the quarter Nil 1.The above results were taken on record at the meeting of Board Directors held on October 30, 2006.
KEY RATIOS
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Debt-Equity Ratio |
0.81 |
1.11 |
1.22 |
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Long Term Debt-Equity Ratio |
0.67 |
0.97 |
1.02 |
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Current Ratio |
0.88 |
0.97 |
1.04 |
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TURNOVER RATIOS |
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Fixed Assets |
1.05 |
0.94 |
1.01 |
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Inventory |
7.79 |
8.56 |
8.91 |
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Debtors |
4.17 |
3.28 |
3.35 |
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Interest Cover Ratio |
3.78 |
2.40 |
1.37 |
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Operating Profit Margin(%) |
17.58 |
17.42 |
12.31 |
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Profit Before Interest And Tax Margin(%) |
13.77 |
11.82 |
8.26 |
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Cash Profit Margin(%) |
10.76 |
10.66 |
6.09 |
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Adjusted Net Profit Margin(%) |
6.96 |
5.06 |
2.05 |
|
Return On Capital Employed(%) |
23.98 |
16.95 |
11.89 |
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Return On Net Worth(%) |
21.87 |
15.29 |
6.55 |
STOCK PRICES
|
Face
Value |
Rs.100.00/- |
|
High |
Rs.450.00 |
|
Low |
Rs.441.00 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was incorporated on 17th October 1900 at Mumbai in Maharashtra having Company Registration Number 176.
Established as The Empire Dyeing and Manufacturing Company, Empire Industries acquired its present name in 1975. It is a multi-faceted company engaged in activities like dyeing, designing and fabrication of medium and heavy-duty cranes, marketing of machine tools, manufacture of glass bottles and designing of electronic instruments and instrumentation systems.
The company’s textile division – Empire Dying, which had diversified into trading speciality fabric, was eventually closed in 1993-94 due to poor performance. Garlic Engineering is its crane manufacturing division. This division which has manufacturing facilities in Ambernath has a technical collaboration with a German firm to manufacture steel mill duty cranes and port cranes. The company manufacturers amber bottles for the pharmaceutical industry through its bottle-making division, Vitrum Glass. The other divisions are Empire Machine and Tools, Empire Chemicals and Empire Instrumentation.
During 1999-2000, the company has entered into a Revenue Sharing Agreement with Wigan & Leigh (I) Limited to impact education in the field of fashion technology, advertising & graphic design and business management. The Empire Institute of Learning is expanding the educational institutions in Mumbai and as a part of this it has also made collaboration with Mountain State University, U.S.A. and the Cambrian College of Applied Arts and Technology, Canada to deliver its MBA programs in Mumbai, Maharashtra.
BUSINESS
The company is engaged in the business of Manufacturing of Glass Bottles, Cranes, Industrial Equipments, OC Filters, Bleach Washers and Brown Stock Washers. It also acts as Traders and Commission Agents.
Empire Machine Tools is engaged in agency business related to metal forming machinery including flame cutting, die casting and heat treatment equipments and other material testing and metrology equipments. Its MCAT division markets machine tools with applications of cutting of metal by turning, milling, boring and grinding, etc.
Empire Chemicals focused more on pharmaceuticals, industrial chemicals and pigments to overcome recessionary market conditions. The company’s glass division was awarded ISO 9002 in October 1998. Imported automatic inspection machines are now being installed on all four glass bottle forming machine lines.
The company's fixed assets of important value include goodwill, land, building & flats, plant & machinery, plant & machinery under erection, furniture & office equipments, Books, vehicles, furnaces, furnaces under construction, technical know-how fees, moulds & castings.
Established as The Empire Dyeing and Manufacturing Company, Empire Industries acquired its present name in 1975. It is a multi-faceted company engaged in activities like dyeing, designing and fabrication of medium and heavy duty cranes, marketing of machine tools, manufacture of glass bottles and designing of electronic instruments and instrumentation systems.
The company's textile division - Empire Dyeing, which had diversified into
trading speciality fabric, was eventually closed in 1993-94 due to poor
performance. Garlick Engineering is its crane manufacturing division. This
division which has manufacturing facilities in Ambernath has a technical
collaboration with a German firm to manufacture steel mill duty cranes and port
cranes. The company manufactures amber bottles for the pharmaceutical industry
through its bottle-making division, Vitrum Glass. The other divisions are
Empire Machine and Tools, Empire Chemicals and Empire Instrumentation.
Empire Machine Tools is engaged in agency business related to metal forming
machinery including flame cutting, die casting and heat treatment equipments
and other material testing and metrology equipments. Its MCAT division markets
machine tools with applications of cutting of metal by turning, milling, boring
and grinding etc.
Empire Chemicals focused more on pharmaceuticals, industrial chemicals and
pigments to overcome recessionary market conditions. The company's glass
division was awarded ISO 9002 in October 1998. Imported automatic inspection
machines are now being installed on the entire four glass bottle forming
machine lines.
During 1999-2000, the company has entered into a Revenue Sharing Agreement with
Wigan & Leigh (I) Limited to impart education in the field of fashion
technology, advertising & graphic design and business management. The
Empire Institute of Learning is expanding the educational institutions in
Mumbai and as a part of this it has also made a collaboration with Mountain
State University, USA and the Cambrian College of Applied Arts and Technology,
Canada to deliver its MBA programs in Mumbai.
OPERATIONS:
VHmm Glass:
This Division manufactures world class Amber Glass Bottles for the
Pharmaceutical Industry. Over one million bottles are manufactured every day on
four fully automatic production lines. The year under review was a difficult
one for Vitrum Glass. Though turnover was higher compared to the previous year
margins were under pressure due to increase in cost of inputs which could not
be passed on to the customers. Vltrum's glass melting furnace was built in 1995
and is now due for rebuilding. Furnace rebuilding along with major overhauling
of machinery and equipment is scheduled for October '06. However, the market is
currently improving.
EMPIRE MACHINE TOOLS – MFTM (Metal Forming,
Testing & Metrology):
This Division is engaged in agency business covering sales, execution
and service support of hi-tech machines in Metal Forming, Metrology, Assembly
Lines, Welding, Melting, Heat Treatment and Process Consultancy. Demand for
integrated solutions is increasing from customers. Local sourcing for turnkey
jobs is becoming a new area of activity. Higher investment in automobile sector
is opening up new opportunities. This Division has done well and is expected to
repeat its good performance in the current year as well.
EMPIRE MACHINE TOOLS – MCAT (Metal Cutting S.
Allied Technologies):
Due to focus on high value orders, majority of business is procured from
Public Sector Undertakings and the Automotive Sectors. There has been an
upswing in the investment in the Automobile Ancillary Sector. The investment
climate in the areas in which this Division is operating is good. Backlog of
Orders is healthy. Whereas competition continues to be stiff, the Division has
succeeded in increasing its market share. This Division has achieved excellent
results which will continue in the current year.
Empire Chemicals:
Empire Chemicals Division operations continued to focus on Pharma
Intermediates, APIs and Fine Chemicals. The Pharma industry went through some
degree of uncertainties owing to government moves on regulation. Government had
also initiated moves on a changed interpretation for the basis of Excise Duty
calculation and also towards declaring MRP inclusive of local levies. These
moves tended to act as dampeners for an industry poised for aggressive growth.
During the year, Empire Chemicals succeeded in concluding arrangements with
some major buyers for their long term monthly purchases and the impact will be
felt during the current year.
Empire Instrumentation:
This division deals with high value Medical Equipments in Radiology,
Cardiology, etc. This year the division has been able to procure good orders,
but with lower margins, but is poised to post high revenues in the year ahead.
With a wider market coverage and emphasis on government customers in the North,
they hope to achieve major success in the coming year.
Empire Industrial Equipment:
This division has been continuously performing well and as the market is
good, the growth of this division will be sustained. Automobile industry is
bullish, Oil & Gas sectors are in investment mode, and the Steel sector is
expanding. Looking at the above market conditions, the Division is expected to
perform better.
The Empire Institute of Learning:
This Division will be closed by July 2006.
CAPITAL EXPENDITURE:
Capital Expenditure incurred during the year amounted to Rs.74.4
millions as against Rs.87.8 millions in the previous year. The major Capital
Expenditure of Rs.28.1 millions was incurred towards the proposed rebuilding of
the furnace and Rs.19.4 millions for developing the Lower Parel property of the
Company for the purposes of offering the same-on Leave & License basis to
banks/multinational companies. At present, the Company has entered into Leave
& License Agreements with ABN AMRO Bank Central Enterprise Services Private
Limited, a wholly owned subsidiary of ABN AMRO Bank, ICICI Bank Limited, Maersk
India Private Limited, Saurer India Private Limited, Television Eighteen India
Limited, Turner International (India) Private Limited And ABN AMRO Bank N.V.
Website Details :
Empire
Industries Limited is a 105 year old public limited company - a multi-faceted
conglomerate with interests in diverse businesses and associated with several international
partners in each operating division.
The areas of interest are pursued through autonomous divisions, each headed by
an Executive Divisional Director who has independent charge over his department
and reports to the Board of Directors for performance.
The Board of Directors consists of eminent personalities and is Chaired by Mr.
Satish Chandra Malhotra who has been at the helm for the past 42 years. During
this period, the company has diversified and expanded many fold.
Today, Empire stands proud with a paid up capital and reserves of Rupees 350
million, and its revalued assets cross the Rupees 5 billion mark Its permanent
employee strength exceeds 1000.
The Company's central and administrative offices are located in Mumbai, which
is the commercial Capital of India. Besides this, the Company has regional
offices spread all over the country to facilitate market coverage.
Empire Machine Tools is a
solutions provider for the Industry of high technology global trends covering
areas of :-
Ø
Consultancy
Ø
Equipment for
Manufacture
Ø
Equipment for
Assembly
Ø
Equipment for
Testing
Ø
Equipment for
Measurement
Ø
Equipment
Automation
EMPIRE MACHINE TOOLS, METAL FORMING, TESTING & METROLOGY DIVISION, (EMT-MFTM) is a division of Empire Industries Limited Mumbai - India. EMT-MFTM is engaged in Sales and Service of high quality, advanced technology - Metal Forming, Testing and Metrology Equipments and Project Consultancy for Engineering Industries.
Countries :
The company represents reputed manufacturers from Europe, USA and Japan. Some of these representations have been active over 50 years.
Market Segment :
The company is actively offering, its application knowledge on products and its services to customers in various manufacturing industries and users covering
Ø
Automobiles and auto ancillaries
Ø Aircraft and Aerospace
Ø
Defence Hardware Production
Ø Power Generation Equipment
Ø
Machine tools and machinery
manufacturers
Ø Telecommunication Equipment, Computer and Electronic component manufacturers
Ø
Rail Coach and Locomotive
Ø Ship Builders
Ø
Precision fabricators
Ø Metal processing plants (e.g. Steel Mills, Casting Units, Forging Units, Rolling Units, etc.)
Ø
Commercial Tool Rooms
Ø
Educational Institutions and Research
laboratories
Products :
The products offered cover a range of hi-tech equipment from overseas for
Ø Metal Forming, Fabricating and Joining Machines for Coils, Plates, Sheets, Bars, Tubes, Strips and Wires. E.g. Presses and Press Lines with or without Tooling and Dies, Plate, Wire and Strip Rolling, Bending, Notching, Swaging, Stretching, Punching, Forging Presses including Screw Presses, Open Die and Radial Forging and Extrusion Presses, Upsetters and Nosing Presses, Electron Beam, Laser and Conventional Arc and Spot Welding Machines, Friction Welding, Friction Stir Welding, Riveting, Gluing, etc.
Ø Machines for Processing Metals with Thermal Processes E.g. Laser Cutting, Vacuum Heat Treatment and Vacuum Induction Melting and Degassing Furnaces, Vacuum Arc Re-melting Furnaces, Directional Solidification Furnaces, Induction Hardening of Crank Shafts and Cylinder Blocks, Powder Compacting Presses, Boiler and Core Leaching Autoclaves, Gas Carburising of Gears, Metal Deposition Equipments, High Pressure and Gravitational Die Casting, etc.
Ø Robotic Welding, Handling, Filling, Painting, Online Measuring, Hemming systems, etc.
Ø Specialized Systems for Automotive Industry eg. BIW System, Chassis Marriage System, Filling System, End Of Line Equipments, Engine and Transmission Assembly and Testing Sytems including Cold Engine Testing, Dynamometers, ECOS, TCF Lines, Painting Systems, etc.
Ø Surface Preparation Systems E.g. Shot Blasting and Peening, Carburizing, Ion-Nitriding, Deburring, Polishing, Coating, Painting etc.
Ø Prototyping, Low Volume Production and Reverse Engineering Machines and Software E.g. Fluid Cell Presses, Elastomer Presses, Rapid Prototying, Laser Sintering, 3D Scanning, Laser Beam Digitizing, Industrial Computer Tomography, Vacuum Casting, Prototype Panels, Soft Toolings, etc
Ø Metrology Machines and Testing Equipments E.g. Co-ordinate Measuring Machines, Portable CMM's, Optical Metrology, Material/System Testing, etc
Apart
from above Equipments EMT-MFTM also offer Consultancy Service from Leading
Companies and Experts around the globe in the fields of
Ø Automotive Industry – eg. Styling, Simultaneous Engineering, Detail Engineering, Planning, Body Engineering, BIW, TCF, Assembly Systems, Layout, Logistics, New Product introduction, Turnkey solutions including local supplies, Plant Layout Engineering, Feasibility Study, Relocation Planning and Services, Cost Reduction Engineering, etc.
Manufacturers
:
EMT- MFTM represents some of the worlds most reputed companies. A few of these companies are
Ø Trumpf
Ø Zeiss
Ø 3D Systems
Ø MCP-HEK
Ø ACB
Ø Fagor
Ø Nikon
Ø Techmeta
Ø Durr/Schenck
Marketing
:
To make a proper assessment of customer's requirements, and make the most appropriate recommendations, a team of highly qualified engineers are periodically trained at foreign manufacturers' works and through technical courses conducted by premier organizations in the country. They are also exposed to the latest technology at International Exhibitions around the world. Pre-sales application demonstrations, time studies, benchmarking, cost justification and audio-visuals technical seminars are conducted regularly, to convince customers about the techno - commercial suitability of the high tech products offered by the company.
Order Execution:
Order execution is followed up closely by competent staff that has many years of experience dealings with public and private sector companies, import procedures and taxes, and with foreign principals from different countries who have their individual export regulations and norms of operation.
After Sales Service:
After sales services cover site preparation recommendations, installations, preventive and breakdown maintenance, training of customers on machine operation, application and repair. This is carried out by a team of engineers trained at regular intervals at foreign manufacturers' works. Providing them service and calibration tools and instruments, diagnostic spares and complete service documentation further enhances their capabilities. Prompt service is offered both in-house at our Modern Networked Service Centre in Mumbai or at customers-site, according to the individual necessities.
Customer Friendly Setup :
All activities of marketing, order
execution and after sales service are streamlined and coordinated through
professionally computerised data handling. The All India market is covered by
specialists based at its Head Office in Mumbai and at its Regional Offices in
Delhi, Kolkata, Bangalore, Chennai & Hyderabad. The total strength in this
division is about 100. More than 40% of the field staff are engaged in
after-sales-service, and our market image is mainly known by their ability on
back-up service.
Local representatives in the different industrial pockets closely keep in touch
with customers and bring them closer to the organization. They ensure customer
satisfaction, by ensuring quick and quality response from Empire Machine Tools
at all times.
Sister Organisation :
EMT_MFTM synergises their efforts in the market with their sister organization namely EMPIRE MACHINE TOOLS -METAL CUTTING AND ALLIED TECHNOLOGIES DIVISION (EMT-MCAT) who look after the following products in the same market segments :
Metal Cutting Machines for Tool Rooms such as Precision Universal CNC Milling and Boring Machines, Machining Centres & CNC Tool & Cutter Grinders, Die Spotting Machines, CNC Lathes and Mill Turn Centres.
Machine Tools for Production Floor such as Flexible Manufacturing Systems, High Speed & High Performance Vertical Machining Centres, CNC Mill Turns, Roll Grinders, Roll Turning Lathes, Portal Type Milling Machines, Slideway Grinders, Surface Grinders, Internal & Face Grinding Machines, Vertical Turret Lathes, Vertical Turning, Boring & Milling Machines, Horizontal Boring Machines from world leaders.
The All India market of this EMT-MCAT division is covered by specialists based at its Head Office in Mumbai and at its Regional Offices in Delhi, Kolkata, Bangalore, Chennai & Hyderabad. The total strength in this division is about 50.
Co-operation:
The active co-operation between the two divisions EMT- MFTM & EMT- MCAT, both approaching the same target group of clients, has resulted in many satisfied customer who have benefited through purchase of most of their high- tech imported machines and consultancy services from EMPIRE MACHINE TOOLS.
Their
Products:
Sheet Metal Processing
Metal Forming
Consultancy Services and Misc.
Metal Treatment
Metal Manufacturing Equipment
Special Welding Solutions
Special Equipments for Automotive 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.44.53 |
|
UK
Pound |
1 |
Rs.86.24 |
|
Euro |
1 |
Rs.57.80 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|