MIRA
INFORM REPORT
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Report Date : |
02.07.2007 |
IDENTIFICATION DETAILS
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Name : |
KLOECKNER DESMA MACHINERY PRIVATE LIMITED |
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Registered Office : |
53, Madhuban, Near Ahmedabad – 380 006, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.04.1995 |
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Com. Reg. No.: |
04-25601 |
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CIN No.: [Company
Identification No.] |
U28999GJ1995PTC025601 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMK00539A |
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PAN No.: [Permanent
Account No.] |
AAACK8768N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Sellers of Injection Moulding Machines, Rubber
Moulding Machines, Unit Sole Machines, Shoe Soling Machines and Moulds. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 330000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having satisfactory track records. Directors
are reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered
Office/ Administrative Office : |
53, Madhuban, Near Ahmedabad – 380 006, |
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Tel. No.: |
91-79-6442729/ 6440331/ 6443236/ 64507766 |
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Fax No.: |
91-79-6421324/ 66527266 |
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E-Mail : |
mamatagroup@mamata.com |
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Website : |
http://www.desmaindia.com
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Area : |
884 sq. fts |
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Location : |
Owned |
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Factory 1 : |
Plot No. 5119/5120, GIDC, R.S. No. 317, Village Ramol, Vatva, Ahmedabad – 382445, |
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Tel. No.: |
91-79-5832023/24/25 |
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Fax No.: |
91-79-5832026 |
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E-Mail : |
sales@desmaindia.com
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Area : |
2200 sq. mtrs. |
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Location : |
Leased |
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Branches : |
Pune "B-106, 1st Floor,
Jay Ganesh Vision (Multiplex), Akurdi, Pune-410033 Phone : 91 20 27442717 E-mail : klocknerwest@vsnl.net
, desmapune@desmaindia.com 14, Ground Floor, World
Trade Centre, Phone : 91 11 23411162 / 5152
8152 Fax : 91 11 23411161 E-mail : klockner@bol.net.in
, desmadelhi@desmaindia.com Chennai Old no.99 / New no.
145, Vardammal Garden 3rd Street, Barraca Road, Kilpauk, Chennai - 600
010, Tamilnadu, India Tel/Fax : 91 44 26651720 E-mail :desmachennai@dataone.in |
DIRECTORS
|
Name |
Mr. Valentin C. Reisgen |
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Designation |
Chairman |
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Address |
Durestrabe 5, 41466 |
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Date of Birth/Age |
11.09.1956 |
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Date of Appointment |
30.03.2005 |
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Name |
Mr. Mahendra Narsinhbhai Patel |
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Designation |
Managing Director |
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Address |
15, Kairavi Bunglows, Near Sarathi Hotel, Bodekdev,
Ahmedabad – 380054, |
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Date of Birth |
17.01.1949 |
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Qualification |
M.Sc [Indl. Engg. and Admn.] from |
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Date of Appointment |
25.04.1995 |
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Name |
Mr. Wolfgang Koliwer |
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Designation |
Director |
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Address |
Kloeckner Desma Elastomertechnick Gmbh
Ander Bara D 78567 |
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Date of Birth |
16.12.1923 |
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Qualification |
25.04.1995 |
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Date of Ceasing |
30.03.2005 |
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Name |
Mr. Gurucharan Singh Bhuller |
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Designation |
Director |
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Address |
KBM Consulting GmbH, |
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Date of Birth |
02.12.1940 |
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Qualification |
25.04.1995 |
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Name |
Dr. Scholz Bernd |
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Designation |
Director |
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Address |
Kolceckner Strasse, 29, 4705, |
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Date of Birth |
02.02.1947 |
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Qualification |
19.06.1997 |
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Name |
Mr. Arun Bhaskerrai Mankodi |
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Designation |
Whole Time Director |
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Address |
A/ 702, Devraj Flats, Near Judges Bunglow,
Ahmedabad – 380 054, |
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Date of Birth |
18.05.1960 |
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Date of Appointment |
27.04.2006 |
KEY EXECUTIVES
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Name : |
Mr. Nikunj N Raval |
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Designation : |
Company Secretary |
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Address : |
K – 12, Kalpataru Flats, |
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Tel. No.: |
91-79-27456879 |
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Mobile No.: |
91-9825383010 |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Klocekner Desma
Elastomertechnik GmbH – An Der Barara, D-78567, |
|
150000 |
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Kloeckner Desma Schumaschinen GmbH |
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150000 |
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Mamata Machinery Private Limited |
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174995 |
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Mr. Mahendra N. Patel |
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2 |
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Mr. Samir S. Oberoi |
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3 |
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Mr. Arun B Mankodi |
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25000 |
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Names of Shareholders |
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Percentage of
Holding |
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Foreign Holdings (Foreign Institutional Investors, Foreign Companies, Foreign
Financial Institutions, Non Resident Indian, or Overseas Corporate Bodies or
Others) |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Sellers of Injection Moulding Machines, Rubber Moulding
Machines, Unit Sole Machines, Shoe Soling Machines and Moulds. |
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Products : |
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Imports : |
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Products : |
Raw Materials, Spares, Capital Goods, Finished Goods etc. |
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Countries : |
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Terms : |
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Purchasing : |
L/C [60/90 days] terms |
GENERAL INFORMATION
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Suppliers : |
Its major suppliers are as under : Ø
Schelemkas Enterprises Inc., Ø
KHS Maschinen Und Anlagenbau AG, Ø
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No. of Employees : |
Aound 50 |
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Bankers : |
State
Bank of Vatva Industrial Estate Branch, Vatva, Ahmedabad – 382
445, |
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Banking Relations
: |
Satisfactory |
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Auditors 1 : |
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Name : |
S R Batliboi and Associates Chartered Accountants |
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Address : |
51, Madhuban, Near Ahmedabad – 380 006, |
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Auditors 2 : |
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Name : |
Dinesh R Shah and Company Chartered Accountants |
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Address : |
53, Madhuban Near Ahmedabad – 380 006, |
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Collaboration : |
The company has technical and financial collaborations with : Ø
Kloekner Desma Elastomertechnik GmbH, - For manufacturing and marketing of Desma
Rubber Industrial Moulding Machines in Ø
Kloeckner Desma Schumaschinen GmbH, -
For manufacturing and marketing of KDS Shoe
Making Machines in
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Holding Companies : |
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Associates/Subsidiaries : |
Ø
Mamata Brampton Engineering Private Limited Ø
Mamata Machinery Private Limited Ø
Mamata Solar Private Limited Ø
Mamata Ariwings Private Limited Ø
KHS Machinery Private Limited Ø
Ferromatic Milaeron India Limited Ø
SourcePro Infotech Private Limited Ø
Mamata Marketing Services Ø
Win Engineering Private Limited Ø
Darling Muesco India Private Limited Ø
Saturn Travels Ø
Mukti Trust |
CAPITAL STRUCTURE
Authorised Capital :
|
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 :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
5.000 |
5.000 |
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2] Reserves & Surplus |
|
77.408 |
46.682 |
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NETWORTH |
|
82.408 |
51.682 |
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LOAN FUNDS |
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1] Secured Loans |
|
10.143 |
9.662 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
10.143 |
9.662 |
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DEFERRED TAX LIABILITIES |
|
4.059 |
3.782 |
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TOTAL |
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96.610 |
65.126 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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37.221 |
35.712 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.048 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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31.317 |
38.086 |
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Sundry Debtors |
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9.233 |
7.583 |
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Cash & Bank Balances |
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65.290 |
21.001 |
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Loans & Advances |
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27.732 |
20.517 |
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Total
Current Assets |
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133.572 |
87.187 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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49.356 |
40.951 |
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Provisions |
|
24.827 |
16.892 |
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Total
Current Liabilities |
|
74.183 |
57.843 |
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Net Current Assets |
|
59.389 |
29.344 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.022 |
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TOTAL |
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96.610 |
65.126 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover and Other Income |
|
260.685 |
220.229 |
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Total Income |
|
260.685 |
220.229 |
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Profit/(Loss) Before Tax |
|
45.417 |
24.719 |
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Provision for Taxation |
|
12.411 |
7.852 |
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Profit/(Loss) After Tax |
|
33.006 |
16.867 |
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Export Value |
|
5.510 |
6.733 |
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Import Value |
|
35.250 |
36.082 |
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Total Expenditure |
|
210.561 |
190.358 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
12.66 |
7.65 |
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Net Profit Margin (PBT/Sales) |
(%) |
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17.42 |
11.22 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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26.59 |
20.10 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.55 |
0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.07 |
2.38 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.80 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Name of the company |
KLOECKNER DESMA MACHINERY
PRIVATE LIMITED |
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Presented
By |
Mr.
Mahendrabhai N. Patel, Managing Director
|
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1) Date and description of instrument creating the change |
01.10.2002, No instrument, A Mortgage by deposit of title deeds was made by Klockner Desma Machinery Private Limited, (borrower) in favour of State Bank of India (Bank). |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 21.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All that piece or parcel of leasehold land known as Plot/Shed No. 5119 and 5120 (Phase-IV) in the Vatva Industrial Area/ Estate consisting of Revenue Survey No. 317, within the village limit of Ramol of Descroi Taluka in the Registration District Ahmedabad and Sub-District of Ahmedabad – 5, (Narol) containing by admeasurement 2200 sq. meters or thereabouts together with all or any superstructure standing thereon. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The immovable property described in Column No. 3 hereinabove mortgaged and charged to the Bank by Memorandum of Entry dated 01.10.2002 for securing the due repayment, discharge by the borrower to the bank of its demand cash credit (stocks and receivables) of Rs. 12.500 millions ad export packing credit (within 01.above) of Rs. 4.500 millions and foreign bills discounting (within 02.above) of Rs. 5.500 millions and letter of credit of Rs, 1.500 millions, bank guarantee of Rs. 1.000 millions and term loan of Rs. 6.000 millions aggregating to Rs. 21.000 millions together with interest, commission, costs, charges, expenses and other monies payable by the borrower to the bank. |
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5) Name and Address and description of the person entitled to the charge. |
State
Bank of Vatva Industrial Estate Branch, Vatva, Ahmedabad
– 382 445, |
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6) Date and brief description of instrument modifying the charge |
07.12.2004, Memorandum of Entry by way of Extension made by Klockner Desma Machinery Private Limited (borrower) in favour of State Bank of India (Bank). |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The securities described in Column No. 3, hereinabove are mortgaged and charged to the bank for securing the due repayment discharged and redemption to the borrower of the bank of its various facilities mentioned in 01.10.2002 shall now also be a security for [a] Fund Based Limits i) Demand Cash Credit of Rs. 0.175 millions ii) EPC (within DCC) of (Rs. 0.045) iii) DDP (cheque) ---- iv) FBD (within DCC) of (Rs. 0.055 millions) v) Term Loan outstanding of Rs. 0.036 millions vi) Term Loan (New) of Rs. 0.060 millions [b] Non Fund Based Limit i) Letter of Credit of Rs. 0.025 millions ii) Bank Guarantee of Rs. 0.060 millions i.e. [A] + [B] aggregating to Rs. 35.600 millions together with interest, commission, costs, charges, expenses and other monies payable by the borrower to the bank. |
As Per Web
Profile
The factory was started in 1996 in the Industrial city of
C-frame design machines with 250 kN and 500kN Clamping Force
are manufactured with 85cc to 500cc Injection Units.
Compression, Transfer and Vacuum presses with Single and Twin station design
are also produced. Range of presses comprises of 1000 kN,2000 kN & 3000 kN
clamping force.
Sales and service offices and service engineers are located strategically to
provide prompt after sales service and spare parts. Their Technical Service
department provides assistance in Process Optimization and Operational
Training.
Their well equipped and experienced Project department works with customers and
design the Optimum production analysis to derive lowest conversion cost. They
also offer Moulds and Cold Runner Blocks ( CRB ) with value added services like
mould concepts, tool design and process optimization.
A total Solution for Economic production of High Quality Rubber parts, is their
product range in brief.
They are an ISO 9001:2000company since 2003.
Strategies for
Success for Elastomer Technology
For 40
years DESMA has been a worldwide leading manufacturer of Injection Moulding
machines for Rubber and Silicone. Apart from classical Vertical and Horizontal
machines with Clamping Forces ranging from 250 kN up to 40,000 kN, Rotary
table/ Stator and C-frame machines as well as Compression Presses are also
produced. Breakthrough developments of the past years were the Innovative
BENCHMARK clamping system for Vertical machines, the Patented FIFO-Injection
system "A" and Cold Runner Block with hydraulic needle-shaped
shut-off technology, ITM and the DESFLEX-system to minimise flash. DESMA is the
world leader in Turnkey production systems and therefore has own effective
Mould Design and Construction Centre. Due to a best-equipped technical rubber
centre, optimum conditions for an efficient process development and customised
trainings are given. Together with you they are engineering the best production
solution. With plant in
The
As Worldwide leading manufacturer of Injection Moulding machines for Elastomer and supplier of Turnkey production systems, DESMA provides with outstanding developments the best conditions for an Efficient Production of your Molded Parts.
The group has collaboration with :
Ø
Schelenkas Enterprises Inc.,
Ø
Cincinnati Milacron Inc.,
Ø
Pure Pack Inc.,
Ø
Hibar Systems,
Ø
Alsan Technologies,
Ø
Ø
KHB Investment Holdings S.A., Luxumberg
The group company took part in exhibition for their machines in K – 2001
held in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.75 |
|
|
1 |
Rs.81.63 |
|
Euro |
1 |
Rs.54.79 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|