MIRA
INFORM REPORT
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Report Date : |
27.07.2007 |
IDENTIFICATION DETAILS
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Name : |
LOESCHE INDIA PRIVATE LIMITED |
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Registered Office : |
C-3, Sector 3, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.02.1995 |
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Com. Reg. No.: |
55-65867 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC065867 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELL00974B |
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PAN No.: [Permanent
Account No.] |
AAACL0980H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of Design, Engineering and Supply including Erection and Commissioning of Dry Grinding Plants |
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 68888 |
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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 well established company having fine track. Available information indicates high financial responsibility of the company. Their trade relations are fair. Financial position is good. Payment are correct and as per commitments. The company can be considered good for any normal business dealings at usual trade terms and conditions. It can be regarded as a promising business partner in a medium to long- run. |
LOCATIONS
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Registered Office : |
C-3, Sector 3, |
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Tel. No.: |
91-120-2444205 / 06 / 07 |
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Fax No.: |
91-120-2443327 |
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E-Mail : |
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Website : |
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Area : |
Approx – 8500 sq. ft. [Rented] |
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Corporate Office
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E – 2, Defence Colony, |
DIRECTORS
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Name : |
Mr. K Subramanian |
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Designation : |
Managing Director |
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Date of Appointment : |
12.11.1999 |
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Name : |
Mr. Willy Lohle (NE USS) |
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Designation : |
Director |
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Date of Appointment : |
28.02.1995 |
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Name : |
Mr. Thomas Loesche (Ratin Gen) |
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Designation : |
Director |
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Date of Appointment : |
28.02.1995 |
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Name : |
Mr. Hans-Joachim Grieb |
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Designation : |
Director |
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Name : |
Mr. Klaus Jurgen Numsen |
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Designation : |
Director |
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Name : |
Dr. Hanns Hermann Ehret |
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Designation : |
Director |
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Name : |
Mr. Walter Weislehner |
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Designation : |
Director |
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Name : |
Dr. Uwe. Marewski |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. K B Sharma |
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Designation : |
Executive Director – [Marketing] |
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E-mail : |
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Name : |
Mr. Mukul Chanana |
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Designation : |
Executive Director [Projects] |
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E-mail : |
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Name : |
Swaran Jain and Associates |
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Designation : |
Company Secretary |
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Address : |
6639, Block No. 9, Street No. 6, Dev Nagar, Karol Bagh, |
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Tel. No.: |
91-11-25810575 |
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E-Mail : |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Loesche |
917849 |
100.00 |
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Cat Consult |
1 |
0.00 |
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Total |
917850 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in the business of Design, Engineering and Supply including Erection and Commissioning of Dry Grinding Plants |
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Products : |
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Exports : |
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Countries : |
Subject reportedly exports its products and sells in domestic market. |
GENERAL INFORMATION
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Customers : |
v
v Orissa Cement v Grasim Industries v Chettinad Cement v OCL India Limited |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vishwanath Singh and Associates Chartered Accountants |
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Address : |
Flat No. 10, Shankar Market, |
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Tel. No.: |
91-11-23413173/ 3174 |
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Fax No.: |
91-11-23414709 |
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E-Mail : |
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Parent Company : |
Loesche GmbH Hansaallee 243, D-40549 Tel. No. : 49 211 53 53-500 Fax No. : 49 211 53 53-500 E-mail : loesche@loesche.de Web : http://www.loesche.com |
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Subsidiaries : |
Loesche Equipamentos Ltda. Loesche Latinoamericana S.A. Email loesche@loesche.es Loesche Tel. 0027-11-482 2933 Email loesche4@global.co.za Loesche America, Inc. Tel. 001-954 602 14 24 Email webmaster@loecheamerica.com |
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Share Company : |
Loesche Feuerungstechnik GmbH Loesche Umwelttechnik
GmbH |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2500000 |
Equity Shares |
Rs. 10/- |
Rs. 25.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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917850 |
Equity Shares |
Rs. 10/- |
Rs. 9.178 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 |
9.178 |
9.178 |
9.178 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8.044 |
7.081 |
4.193 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.222 |
16.259 |
13.371 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.983 |
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TOTAL |
17.222 |
16.259 |
14.354 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.831 |
18.403 |
12.234 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
0.861
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22.910 |
0.000 |
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Sundry Debtors |
92.327
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73.137 |
13.698 |
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Cash & Bank Balances |
48.594
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62.202 |
91.215 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
49.965
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77.865 |
15.223 |
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Total
Current Assets |
191.747
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236.114 |
120.136 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
140.068
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194.030 |
113.319 |
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Provisions |
52.288
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44.228 |
4.701 |
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Total
Current Liabilities |
192.356
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238.258 |
118.020 |
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Net Current Assets |
[0.609]
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[2.144] |
2.116 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
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TOTAL |
17.222 |
16.259 |
14.354 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
422.339 |
235.813 |
59.711 |
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Other Income |
19.953 |
7.943 |
0.000 |
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Total Income |
442.292 |
243.756 |
59.711 |
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Profit/(Loss) Before Tax |
20.771 |
40.870 |
7.032 |
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Provision for Taxation |
8.819 |
15.046 |
3.216 |
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Profit/(Loss) After Tax |
11.952 |
25.824 |
3.816 |
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Earnings in Foreign Currency : |
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Total Earnings |
296.539 |
12.217 |
6.069 |
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Imports : |
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Total Imports |
31.177 |
-- |
-- |
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Expenditures : |
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Total Expenditure |
421.521 |
202.886 |
51.310 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
2.70
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10.59 |
6.39 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.92
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17.33 |
11.78 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.91
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16.06 |
5.31 |
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Return on Investment (ROI) (PBT/Networth) |
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1.21
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2.51 |
0.53 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.17
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14.65 |
8.83 |
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Current Ratio (Current Asset/Current Liability) |
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1.00
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0.99 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from E-2,
Defence Colony,
Profile
Subject is a wholy owned subsidiary of Loesche Gmbh with
headquarter office at Düsseldorf in
Loesche supplies dry-grinding plants for the cement, mineral and power generation
industries,steel industries, pet coke grinding, waste processing systems for
private and public waste disposal, incineration systems for decontamination,
and recycling of materials and thermal plants for cement factories. Loesche
also offers an extensive spare parts department, as well as, expert on site
engineering services.
Loesche
Their office located in
They also offer spare parts and expertise on engineering services.
They are equipped to carry out survey of the existing plants and offer services
for modernization / upgradation / optimisation of grinding units.
Loesche Gmbh - Parent Company
Loesche Gmbh is an independent and family-owned company for over ninety years. A
pioneering spirit, flexibility, efficiency and dynamics characterize their
company and the work of over 250 employees in more than 20 countries. Loesche
is proud that clients and suppliers regard them as one of the best medium-sized
companies for the cement industry.
Operating worldwide
Today they are an international market leader in Vertical
Roller Mills used for pulverizing coal, cement raw materials, clinker and
cement extenders like granulated blast furnace slag. They have responded to
increasing globalisation with representation offices in the entire world as
well as through subsidiaries in
Roller grinding mills and more
The roller grinding mill technology patented in 1928 by
loesche
Holding Company
Loesche
Trade References:
v Ashoka Machine Tools Corporation
v Chanderpur Works
v Diamiond Engineering (Chennai) Private Limited
v Keld Ellentoft India Private Limited
v Quantum Engineers Private Limited
v R R Techno Mechanical Private Limited
v Shree Alloys Industries Private Limited
v Stanfab Engineering Private Limited
v Toshniwal Brother Private Limited
v United Technomech Engineers Private Limited
v Vasudha Enterprises
v Wearresist Technologies Private Limited
Subject is having its agencies at the following countries:
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
v
Products
The roller grinding mill technology patented in 1928 by Loesche, and
continuously developed since then, has become synonymous with Loesche’s
pioneering engineering know-how.
1] cement raw materials, cement clinker, cement blends, pozzolane, limestone,
burnt lime and
blast furnace slag,
2] hard coal, brown coal, lignite, anthracite, petroleum and other coke
types
3] phosphate, feldspar, talcum, clay, kaolin, bentonite, barite,
graphite, colemanite, titanium
dioxide, titanium slag, minerals and ores.
With the hot gas system LOMA heater/multiple lance burner, low-calorific gases
are burned very efficiently without a supporting burner.
Their speciality, the Loesche high efficiency classifier, produces products in
a homogenous field of streaming forces in conjunction with centrifugal forces.
Website Details:
Subject was awarded as the new supplier for
the Expansion Project OCL India at their Orissa Plant after subject’s first
supply in 1995.
Subject will supply a Mill Type LM 46.2 + 2C which
enables the customer to grind Slag as well as OPC and additionally PPC.
Therefore the miss will be equipped with the respective additional equipment.
For PPC grinding OCL.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.27 |
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1 |
Rs.82.53 |
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Euro |
1 |
Rs.55.23 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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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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54 |
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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