MIRA
INFORM REPORT
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Report Date : |
02.06.2007 |
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, |
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Country : |
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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, |
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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, |
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Factory 2 : |
Vitrum Glass L B Shastri Marg, Vikhroli, Mumbai - 400 083, |
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Tel. No.: |
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Factory 3 : |
Garlick Engineering MIDC Industrial Area, Engineering Zone, Ambernath, Plot No. 5905/4, GIDC, Ankleshwar 393 002, |
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Branches : |
CHENNAI EMPIRE MACHINE TOOLS- MFTM Division, Phone
: 91-44-24332904, 24349679 Empire Machine Tools- MFTM Division, 142, 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 Empire Machine Tools- Mftm Division, Flat "D", 6th Floor, Vandana Building, 11 Tolstoy Marg, New Delhi - 110 001 Phone
: 91-11-23314389, 23313832, 23324630 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 |
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 ( |
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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
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MBA ( |
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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, |
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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, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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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 |
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 Ø
Bank of Ø
Central Bank of |
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Facilities : |
Secured Loans :
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
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 |
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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 |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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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)
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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 |
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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 |
SUMMARISED RESULTS
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PARTICULARS |
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31.03.2007 Full Year |
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Sales Turnover |
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885.700 |
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Other Income |
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|
193.200 |
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Total Income |
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1078.900 |
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Total Expenditure |
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902.200 |
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Operating Profit |
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176.700 |
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Interest |
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|
28.600 |
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Gross Profit |
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|
148.100 |
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Depreciation |
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|
36.500 |
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Tax |
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|
25.600 |
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Reported PAT |
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|
79.500 |
KEY RATIOS
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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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 |
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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/- |
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High |
Rs.450.00 |
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Low |
Rs.441.00 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
The company was incorporated on 17th October 1900
at Mumbai in
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
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
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
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 -
Countries :
The company
represents reputed manufacturers from Europe,
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
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
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,
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.40.54 |
|
|
1 |
Rs.80.21 |
|
Euro |
1 |
Rs.54.51 |
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 |
|