MIRA
INFORM REPORT
|
Report Date : |
01.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
LPS BOSSARD PRIVATE LIMITED |
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Registered Office : |
301, Local Shopping Centre, Derawa Nagar, Gujranwala Town, New
Delhi-110009 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.11.1997 |
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Com. Reg. No.: |
55-90805 |
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CIN No.: [Company Identification No.] |
U72200DL1997PTC090805 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELL01408B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealing in Chemicals, Paper, Leather, Petroleum Products, etc. |
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 750000 |
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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. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as 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 : |
301, Local Shopping Centre, Derawa Nagar, Gujranwala Town, New
Delhi-110009, India |
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E-Mail : |
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Factory 1 : |
A-1/134, Safderjung Enclave, New Delhi-110029, India |
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E-Mail : |
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Branches : |
LPS Bossard
Private Limited Opposite Northern Bye-Pass, Hissar Road,
India-124 001 Rohtak Phone: 91 1262 259950 Fax: 91 1262 259952 Email: india@bossard.com LPS Bossard
Private Limited Ahmedabad 301, Kirtiman Complex, Gulbai Tekra, Opp.
K.P.Hostel, Off C.G.Road, Navrangpura, Ahmedabad, India Phone: 91 079 5513 9682 Fax: 91 079 5513 9682 Email: india@bossard.com LPS Bossard
Private Limited Ajay R. Mistry Behind Mukund Company, Ashirwad Society,
PO Parnera Atul, Valsad 396020 Phone: 91 02632 234251 Email: india@bossard.com LPS Bossard
Private Limited Bangalore No 607 6th Block, 80 feet Road,
Koramangala, Bangalore 560095, India Phone: 91 80 256 33357 Fax: 91 80 256 33362 Email: bangalore@lpsboi.com LPS Bossard
Private Limited Bhopal SB-24, Mansarover Complex, Opposite
Habibganj Railway Station, Hoshangabad Road, Bhopal 462016 Phone: 91 0755 424 6084 Fax: 91
0755 424 6089 Email: india@bossard.com LPS Bossard
Private Limited Chennai AD-16 (Old No. 12), 5th Street, Anna
Nagar, Chennai 600040, India Phone: 91 044 626 5005 Fax: 91
044 5217 2296 Email: india@bossard.com LPS Bossard
Private Limited Hyderabad No 112A, Navketan Comples, Opp. Clock
Tower, S.D. Road, Secunderabad 500003, India Phone: 91 40 5549 4814 Fax: 91
40 5549 4814 Email: hyderabad@lpsboi.com LPS Bossard
Private Limited Mumbai A I 1&2, Rajlaxmi Comm.Complex, Thane
Bhiwandi Road, Kalher, Bhiwandi Thane 421302, India Phone: 91 02522 276160 Fax: 91
02522276164 Email: mumbai@lpsboi.com LPS Bossard
Private Limited N.Delhi A-1/134, Safdarjung Enclave, New Delhi
110029, India Phone: 91 11 261 80086 Fax: 91
11 261 80072 Email: delhi@lpsboi.com LPS Bossard
Private Limited Pune 303, Gulmohar Center Point, 34/A/5,
Wadgaonsheri, Pune 411014, India Phone: 91 20 401 205556 Fax: 91
20 401 0882 Email: pune@lpsboi.com |
DIRECTORS
|
Name : |
Mr. Rajesh Jain |
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Designation : |
Managing Director |
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Address : |
Nav Bharat House, Railway Road, Rohtak-124001, Haryana |
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Date of Birth/Age : |
28.06.1958 |
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Date of Appointment : |
21.11.1997 |
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Name : |
Mr. Lalit Kumar Jain |
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Designation : |
Director |
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Address : |
Nav Bharat House, Railway Road, Rohtak-124001, Haryana |
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Date of Birth/Age : |
19.10.1954 |
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Date of Appointment : |
21.11.1997 |
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Name : |
Mr. Heinrich Bossard |
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Designation : |
Director |
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Address : |
Seestrasse 25, CH 6300, Zug, Switzerland |
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Date of Birth/Age : |
10.03.1943 |
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Date of Appointment : |
21.11.1997 |
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Name : |
Mr. Scott Wright Mac Meekin |
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Designation : |
Director |
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Address : |
14, Fernhill Crescent, Singapore-259168 |
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Date of Appointment : |
21.11.1997 |
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Name : |
Mr. Stephen Johnnes Joseph Zehnder |
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Designation : |
Director |
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Address : |
AM Rainbach 8, 6340, Baar ZG, Switzerland |
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Date of Birth/Age : |
20.10.1965 |
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Date of Appointment : |
30.09.2005 |
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Other Directorships : |
LPS Bossard Information Systems Private Limited |
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Name : |
Mr. Vijay Singh Yadav |
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Designation : |
Alternate Director |
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Address : |
BTB 092, Belvedere Tower, DLF City, Phase II, Gurgaon, Haryana-122002,
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Date of Birth/Age : |
04.01.1939 |
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Date of Appointment : |
18.12.2004 |
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Name : |
Mrs. Priya Kumar Dasgupta |
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Designation : |
Alternate Director |
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Address : |
J-1810, Chittaranjan Park, New Delhi-110019, Delhi |
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Date of Birth/Age : |
30.06.1955 |
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Other Directorships : |
30.06.2006 |
KEY EXECUTIVES
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Name : |
Mr. Anil Chahal |
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Designation : |
Company Secretary |
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Address : |
62/14, Kippal Nagar, Rohtak-124001, Haryana |
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Date of Birth/Age : |
19.02.1973 |
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Date of Appointment : |
07.02.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Bossard AG |
2448020 |
|
Lakshmi Precision Screws Private Limited |
2352019 |
BUSINESS DETAILS
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Line of Business : |
Dealing in Chemicals, Paper, Leather, Petroleum Products, etc. |
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Products : |
Fasteners |
GENERAL
INFORMATION
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Bankers : |
Canara Bank, 193, Civil Lines, Rohtak-124001, Haryana, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Walker Chandiok & Company Chartered Accountants |
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Address : |
L-41, Connaught Circus, New Delhi-110001, Delhi, India |
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Holding Company : |
Bossard AG |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4800039 |
Equity Shares |
Rs.10/- each |
Rs.48.000
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 |
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48.000 |
48.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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141.975 |
90.195 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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189.975 |
138.195 |
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LOAN FUNDS |
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1] Secured Loans |
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0.327 |
0.981 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.327 |
0.981 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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190.302 |
139.176 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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41.820 |
28.987 |
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Capital work-in-progress |
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0.000 |
0.050 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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1.931 |
1.198 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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42.299 |
49.789 |
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Sundry Debtors |
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153.476 |
77.988 |
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Cash & Bank Balances |
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28.721 |
18.977 |
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Other Current Assets |
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0.152 |
0.043 |
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Loans & Advances |
|
10.761 |
11.530 |
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Total
Current Assets |
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235.409 |
158.327 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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60.492 |
39.071 |
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Provisions |
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28.386 |
10.345 |
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Total
Current Liabilities |
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88.878 |
49.416 |
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Net Current Assets |
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146.531 |
108.911 |
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MISCELLANEOUS EXPENSES |
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0.020 |
0.030 |
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TOTAL |
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190.302 |
139.176 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.47 |
0.36 |
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Current Ratio (Current Asset/Current Liability) |
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2.65 |
3.20 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
LPS Bossard Private Limited |
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Presented By |
Mr.
Anil Chahal, Company Secretary |
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1) Date and description of instrument creating the change |
Supplemental common hypothecation agreement dated 27.04.2004 executed by LPS Bossard Private Limited in favour of Canara Bank Main, 193, Civil Lines, Rohtak registered on 18.05.2004. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash credit : Rs.15.000 millions FLC : Rs.10.000 millions Guarantee : Rs.5.000 millions Total : Rs.30.000 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 |
Primary Security : Stock and Book Debts of the company (Both present and future) Collateral Security 1st charge on fixed assets excluding computer software and vehicle of te company (book value as per PBS 31.03.2003 Rs.17.475 millions ) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Cash Credit : ROI – BPLR+1.50% i.e. 12.25% p.a. Margin 25% FLC Margin : 25% Usance Period : 90 days Period of LC : 90 days Guarantee : Margin 25% Period of Guarantee : 24 months |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Main 193, Civil Lines, Rohtak |
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6) Date and brief description of instrument modifying the charge |
Supplemental Common Hypothecation agreement dated 19.10.2005 executed between LPS Bossard Private Limited and Canara Bank, Main, 193, Civil Lines, Rohtak. |
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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. |
Cash Credit : ROI 10% Margin 25% FLC: Margin 10% Usance Period 90 days Period of LC 90 days Guarantee : Margin 25% Period of Guarantee : 24 months Primary Security : Stock and book debts of the company (both present and future) Collateral Security : 1st charge on fixed assets excluding computer software and vehicle of the company (Book value as per PBS 31.03..2005 Rs.26.697 millions) |
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Name of the company |
LPS Bossard Private Limited |
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Presented By |
Mr.
Anil Chahal, Company Secretary |
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1) Date and description of instrument creating the change |
Common hypothecation agreement dated 17.08.2001. supplementary agreement dated 16.10.2001 and Supplemental common hypothecation agreement dated 30.04.2002 supplemental common hypothecation agreement dated 16.07.2002, supplemental common hypothecation agreement dated 27.04.2004 executed by LPS Bossard Private Limited in favour of Canara Bank, Main, 193, Civil Lines, Rohtak Registered on 04.10.2001, 12.11.2001, 28.08.2002 and 18.05.2004 respectively. |
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2) Amount secured by the charge/amount owing on the securities of charge |
B E Limit : Rs.35.000 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 |
Primary Security : Stock and Book Debts of the company (Both present and future) Collateral Security 1st charge on fixed assets excluding computer software and vehicle of te company (book value as per PBS 31.03.2003 Rs.17.475 millions ) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROI – BPLR+1.50% i.e. 12.25% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, Main 193, Civil Lines, Rohtak |
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6) Date and brief description of instrument modifying the charge |
Supplemental Common Hypothecation agreement dated 19.10.2005 executed between LPS Bossard Private Limited and Canara Bank, Main, 193, Civil Lines, Rohtak. |
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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. |
BE Limit enhanced from Rs.35.000 millions to Rs.40.000 millions Margin : Nil margin for BE against PBLC 10% margin for BEs drawn under Non Prime Bank Lcs or accepted hundis. Primary Security : Stock and Book debts of the company (both present and future) Collateral Security : 1st charge on fixed assets excluding computer software and vehicles of the company (Book value as per PBS 31.03.2005 Rs.26.697 millions) |
Website Details :
Subject is a joint venture company of LPS and Bossard. AG of
Switzerland. This venture gives state of the art fastening solution/ technology
to customer in India. The latest inventory management technique through
logistic support is also provided by this company.
Recoil Business Division of 'LPS'
This division of LPS is sole master distributor of fastening solutions from Alcoa
Fastening Systems, USA. Alcoa This company ensures global consistency of
quality design standards in manufacturing wire thread, Inserts, STI Taps,
Thread Repair Kits etc.
Textron Inc. U.S.A.
'LPS' has entered into a licensing agreement with Textron Inc, USA for
manufacturing and marketing 'Torx®' brand of proprietary products.
Textron is 10 billion USD multi-specialty company, with 1.8 billion USD
as revenue from fastening division.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.28 |
|
UK Pound |
1 |
Rs.86.62 |
|
Euro |
1 |
Rs.58.32 |
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 |
|
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions