MIRA
INFORM REPORT
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Report Date : |
09.10.2007 |
IDENTIFICATION DETAILS
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Name : |
WEILBURGER COATINGS INDIA PRIVATE LIMITED |
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Registered Office : |
C/o. S P Sinha and Company, 56D, Mirza Ghalib Street, 2nd Floor,
Kolkata – 700016, West Bengal |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
02.06.2006 |
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Com. Reg. No.: |
21-109737 |
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CIN No.: [Company
Identification No.] |
U24222WB2006PTC109737 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALW02858C |
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PAN No.: [Permanent
Account No.] |
AAACW6645G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of PTFE Resin Based Coating Materials, Silicone Resin
Based Coating Materials |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 27344 |
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Status : |
New Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company promoted by In view of strong promoters, the company can be considered for small
to mediocre business dealings at usual trade terms and condition |
LOCATIONS
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Registered Office : |
C/o. S P Sinha and Company, 56D, Mirza Ghalib Street, 2nd Floor,
Kolkata – 700016, West Bengal, India |
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Tel. No.: |
91-33-22292915 / 22170026 |
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Fax No.: |
91-33-23346637 |
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E-Mail : |
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Weilburg Office : |
WEILBURGER
Coatings GmbH |
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Tel. No.: |
49 6471 315-0 |
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Fax No.: |
49 6471 315-116 |
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E-Mail : |
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Partners Worldwide : |
Benelux,
Bulgaria,
Denmark,
Hungary,
Iran,
Norway,
Portugal,
Serbia,
,
Turkey |
DIRECTORS
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Name : |
Mr. Timothy Charles Rand |
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Designation : |
Director |
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Address : |
Briar Thatch, |
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Date of Birth/Age : |
01.01.1949 |
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Date of Appointment : |
02.06.2006 |
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Name : |
Mr. Soumendra Prasad Sinha |
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Designation : |
Director |
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Address : |
AB – 4, Sector – 1, |
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Date of Birth/Age : |
28.09.1685 |
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Date of Appointment : |
02.06.2006 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Weilburger Lacke Handelsgesellschaft Gmbh |
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9900 |
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Soumendra Prasad Sinha |
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100 |
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Category |
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Percentage of
Holding |
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Directors or Relatives of Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of PTFE Resin Based Coating Materials, Silicone Resin
Based Coating Materials |
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Products : |
² High temperature resistant coatings |
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GENERAL INFORMATION
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Bankers : |
Deutsche Bank No. 9 Shakespeare Sarani, Kolkata – 700071 |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ghosal Basu and Roy Chartered Accountants |
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Address : |
8 / 2, |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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02.06.2006 to
31.12.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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6.800 |
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3] Reserves & Surplus |
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(0.064) |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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6.836 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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3.100 |
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TOTAL BORROWING |
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3.100 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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9.936 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.110 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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3.000 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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3.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.184 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.184 |
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Net Current Assets |
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2.816 |
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MISCELLANEOUS EXPENSES |
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0.010 |
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TOTAL |
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9.936 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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02.06.2006 to
31.12.2006 |
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Profit/(Loss) Before Tax |
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(0.064) |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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(0.064) |
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Expenditures : |
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Total Expenditure |
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0.064 |
KEY RATIOS
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PARTICULARS |
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02.06.2006 to
31.12.2006 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.63 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.02 |
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Current Ratio (Current Asset/Current Liability) |
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16.30 |
LOCAL AGENCY FURTHER INFORMATION
As Per Web Details
Profile:
WEILBURGER Coatings GmbH is the parent WEILBURGER Coatings
GmbH of the GREBE GROUP, has developed since its foundation as a small toll
manufacturer into a significant producer of industrial coating materials. In 1936
the WEILBURGER Coatings GmbH was bought by Jakob Grebe and is still owned by
the family today. In 1979 Hans Harald Grebe became the Managing director of the
WEILBURGER Coatings GmbH. Under his leadership the WEILBURGER Coatings GmbH
expanded significantly. With more than 200 employees WEILBURGER Coatings is one
of the most important medium sized coatings manufacturers
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WEILBURGER Coatings GmbH developed coating concepts geared to market
requirements in laboratories where emphasis is placed on economic viability,
care of the environment and technical performance. A high standard of training
for the R & D staff guarantees constant innovations. Their current
development activities are concentrated on water reducible high temperature
coatings, new fluoropolymer coatings, radiation curing, UV and ESH systems,
2K-PUR waterbased coatings, epoxy systems, water reducible effect lacquers and
processes to recycle overspray.
WEILBURGER Coatings GmbH produces more than 6500 tonnes of industrial coatings
per annum. Their main emphasis is on solvent free and waterbased coatings as
well as products where the use of organic solvents is unavoidable. They have
endeavoured with regenerative exhaust air purification plants to keep emissions
to an absolute minimum. It is their duty to protect the environment. Computer
controlled colour mixing plants enable fast supply of high quality,
competitively priced standard systems.
WEILBURGER Coatings GmbH concentrates its distribution concept on a range of
industrial market sectors and is an important supplier to the whole of
WEILBURGER Coatings GmbH relies on quality. The new certification in accordance
with DIN EN ISO 9001:2000 is the result of the consequent application and
further development of their Quality Management System. Partnerships with their
raw material suppliers and customers lay the foundation for ongoing, successful
business relationships.
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 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.39.43 |
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1 |
Rs.80.44 |
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Euro |
1 |
Rs.55.66 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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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26 |
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. |
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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