- Summary Information
|
Company Name |
FREUDENBERG NONWOVENS INDIA PRIVATE
LIMITED |
Principal Name 1 |
Mr. Atul Raje |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Gnanasekharan Sambandam |
|
Street Address |
5th Floor, Sentinel, Central Avenue, Hiranandani Gardens,
Powai - 400076, Maharashtra |
||
|
Established Date |
30.03.1998 |
SIC Code |
-- |
|
Telephone# |
91-22-27781436 / 1371 / 1456 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-27781857 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Filter |
|
# of employees |
-- |
Product Name 2 |
Later Lining |
|
Paid up capital |
24000000 |
Product Name 3 |
-- |
|
Shareholders |
Bodies Corporate – 100.00% |
Banking |
Dresdner Bank AG |
|
Public Limited Corp. |
No |
Business Period |
10 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ba |
|
Holding Company |
|||
|
Relation: Associate |
Country: India |
Company Name |
Fredudenberg Beteiligungs GmbH |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2006 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
191800000 |
Current Liabilities |
183141000 |
|
Inventories |
100989000 |
Long-term Liabilities |
109090000
|
|
Fixed Assets |
63479000 |
Other Liabilities |
0 |
|
Deferred Assets |
13472000 |
Total Liabilities |
292231000 |
|
Invest& other Assets |
26395000 |
Retained Earnings |
79903000 |
|
|
|
Net Worth |
103904000 |
|
Total Assets |
396135000 |
Total Liab. & Equity |
396135000 |
|
Total Assets (Previous Year) |
270111000 |
|
|
|
P/L Statement as of |
31.12.2006 |
(Unit: Indian Rs.) |
|
|
Sales |
335563000 |
Net Profit |
15508000 |
|
Sales(Previous yr) |
183121000 |
Net Profit(Prev.yr) |
15556000 |
MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FREUDENBERG NONWOVENS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
5th Floor, Sentinel, Central Avenue, Hiranandani Gardens,
Powai - 400076, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
30.03.1998 |
|
|
|
|
Com. Reg. No.: |
11- 114237 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29197MH1998PTC114237 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEF03311A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Nonwovens fabrics |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 519000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Freudenberg Betelinus GmbH, Germany Company
has been successful in wiping off all its previous losses. Trade relations
are reported as fair. Business is active. Payments are reported as usually correct
and as per commitments. The company can be considered normal for business dealings at usual
trade term and conditions. |
LOCATIONS
|
Registered Office : |
A – 324, TTC Industrial Area, Thane – Belapur Road, Mahape, Navi Mumbai
400 701, Maharashtra, India |
|
Tel. No.: |
91-22-27781436 / 1371 / 1456 |
|
Fax No.: |
91-22-27781857 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
No. 4/14, Soundarapandian Street, Ashok Nagar, Chennai, Tamilnadu,
India |
|
Tel. No.: |
91-44-24715421 |
|
Fax No.: |
91-44-24715420 |
|
|
|
|
Factory : |
A – 535B, TTC Industrial Area, Thane – Belapur Road, Mahape, Navi Mumbai
400 701, Maharashtra, India |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Atul Raje |
|
Designation : |
Managing Director |
|
Address : |
Tiovli 2601, Hiran Andani Garden, Powai, Mumbai - 400076 |
|
Date of Birth/Age : |
11.04.1959 |
|
Date of Appointment : |
01.04.1998 |
|
|
|
|
Name : |
Mr. Gnanasekharan Sambandam |
|
Designation : |
Additional Director |
|
Address : |
K-142, Sena Vihar, Kammanahalli Main Road, Bangalore 560 043,
Karnataka, India |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
30.06.2006 |
|
|
|
|
Name : |
Mr. Helmut Beck |
|
Designation : |
Additional Director |
|
Address : |
Nietzschestrasse22, D – 68165, Mannheim |
|
Date of Birth/Age : |
06.11.1948 |
|
Date of Appointment : |
30.06.2006 |
|
|
|
|
Name : |
Mr. Bhaskar Ramchandre Raje |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Shubuda Bhaskar Raje |
|
Designation : |
Director |
|
Address : |
Guru Bungalow, Opp. Godbole Hosp., M G Road, Naupada, Thane |
|
Date of Birth/Age : |
18.12.1933 |
|
Date of Appointment : |
30.03.1998 |
|
|
|
|
Name : |
Mr. Rolf H Kolher |
|
Designation : |
Director |
|
Address : |
RM 1808, Far East International Plaza, 319, Xianxia Road, Shanghai -
200051 |
|
Date of Birth/Age : |
04.11.1950 |
|
Date of Appointment : |
23.06.1998 |
|
|
|
|
Name : |
Mr. Heino Lan Freudenberg |
|
Designation : |
Director |
|
Address : |
House 1, Golden Cove Lookout 2, 23 Silver Cape Road, Silver Strand
Beach, Sai Kung, Hong Kong |
|
Date of Birth/Age : |
14.06.1969 |
|
Date of Appointment : |
29.10.2000 |
|
|
|
|
Name : |
Mr. Joerg Sievert |
|
Designation : |
Director |
|
Address : |
Nietzschestrasse 22, D – 68165, Mannheim, Germany |
|
Date of Birth/Age : |
23.06.2005 |
|
Date of Appointment : |
24.01.2000 |
|
|
|
|
Name : |
Mr. Jinghuai XU |
|
Designation : |
Director |
|
Address : |
168 Mantingfang Garden, No.222, Lane 2489, Hongqiao Road, Shanghai,
China |
|
Date of Birth/Age : |
11.05.1967 |
|
Date of Appointment : |
03.09.2006 |
|
|
|
|
Name : |
Mr. Ramesh Gnanasekharan |
|
Designation : |
Director |
|
Address : |
K 142, Sena Vihar, Kammanahalli Main Road, Bangalore – 560043,
Karnataka |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
30.06.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 01.06.2007
|
Names of Shareholders |
|
No. of Shares |
|
Freudenberg Betelinus GmbH |
|
1999999 |
|
Freudenberg Betelinus GmbH (Partly Paid Up) |
|
4000000 |
|
Asto Betelingungis Gm |
|
1 |
Note: 4000000 equity share of Rs.10/- each on which
Rs.1/- is paid up
AS ON 01.06.2007
Equity share breakup (percentage of total equity)
|
S. No. |
Category |
Percentage |
|
1 |
Bodies Corporate (non mention above) |
100.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Nonwovens fabrics |
PRODUCTION STATUS (AS ON 01.06.2007)
|
Particulars |
Actual
Production |
|
Filters |
0.050 |
|
Later lining |
8.644 |
GENERAL
INFORMATION
|
Bankers : |
Dresdner Bank AG Nariman Point, Mumbai 400 021, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai 400 013, Maharashtra, India |
|
|
|
|
Holding Company: |
Fredudenberg Beteiligungs GmbH |
|
|
|
|
Fellow Company : |
|
CAPITAL STRUCTURE
AS ON 01.06.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity shares |
Rs. 10/- each |
Rs.100.000 Millions |
Issued Share Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity shares |
Rs. 10/- each |
Rs.60.000 Millions |
Paid-up Share Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
2000000 |
Equity shares |
Rs. 10/- each |
Rs.20.000 Millions |
||
|
4000000 |
Equity shares |
Rs. 1/- each |
Rs.4.000 Millions |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
79.903 |
28.396 |
18.459 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
103.903 |
48.396 |
38.459 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.517 |
1.009 |
0.548 |
|
|
2] Unsecured Loans |
108.573 |
111.495 |
18.477 |
|
|
TOTAL BORROWING |
109.090 |
112.504 |
19.025 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
212.994 |
160.900 |
57.484 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
63.479 |
10.844 |
4.457 |
|
|
Capital work-in-progress |
26.395 |
87.236 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
13.472 |
6.777 |
3.984 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
100.989
|
45.482 |
28.901 |
|
|
Sundry Debtors |
100.771
|
64.671 |
49.166 |
|
|
Cash & Bank Balances |
29.862
|
8.226 |
13.832 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
61.167
|
46.875 |
18.305 |
|
Total
Current Assets |
292.789
|
165.254 |
110.204 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
142.470
|
76.373 |
38.463 |
|
|
Provisions |
40.671
|
32.838 |
22.698 |
|
Total
Current Liabilities |
183.141
|
109.211 |
61.161 |
|
|
Net Current Assets |
109.647
|
56.043 |
49.043 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
212.994 |
160.900 |
57.484 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
|
Sales Turnover |
335.563 |
183.121 |
168.003 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
335.563 |
183.121 |
168.003 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
23.793 |
15.556 |
146.671 |
|
|
Provision for Taxation |
8.285 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
15.508 |
15.556 |
146.671 |
|
|
|
|
|
|
|
|
Total Earnings |
17.448 |
43.959 |
NA |
|
|
|
|
|
|
|
|
Imports |
|
|
|
|
|
|
Raw Materials |
51.851 |
25.614 |
NA |
|
|
Others |
69.515 |
34.340 |
NA |
|
Total Imports |
121.366 |
59.954 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interest |
|
4.963 |
1.131 |
|
|
Depreciation & Amortization |
311.770 |
2.293 |
1.579 |
|
|
Other Expenditure |
|
160.308 |
143.961 |
|
Total Expenditure |
311.770 |
167.564 |
146.671 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
PAT / Total Income |
(%) |
04.62
|
8.49 |
87.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
07.09
|
8.49 |
87.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
06.00
|
5.90 |
127.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.32 |
3.81 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.81
|
3.48 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.51 |
1.80 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
Registered office of the company shifted from A – 535B, TTC Industrial Area,
Thane – Belapur Road, Mahape, Navi Mumbai 400 701, Maharashtra, India to 5th
Floor, Sentinel, Central Avenue, Hiranandani Gardens, Powai - 400076,
Maharashtra, India with effect from 01.10.2008
Fixed Assets
- Leasehold
Premises
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipment
- Computers
- Motor
Vehicles
Form 8
|
Name of the company |
FREUDENBERG
NONWOVWNS INDIA PRIVATE LIMITED |
|
Presented
By |
JOINTLY
COMPANY AND CHARGEHOLDER |
|
1) Date and description of instrument creating the change |
Hypothecation of stocks and book debts dated 12.03.1999 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 15.000 millions |
|
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 |
1) All stocks of non wovens like liquid filters, vertical nonwovens (used in cable industry, hallery separators, GRP, textile Press) and spunbond nonwovens (used in automobile industry) and such other goods belonging to the borrower which are now or hereafter brought into the premises belonging to or in the occupation of the company at 301, Delta, Hiranandani Gardens, Powai, Mumbai 400 071 or else where or in course of transit. 2) All present and future book debts, outstanding moneys receivable, claims, bills, contracts, securities. 3) All shipping and other documents of title negotiable instruments, bills, drafts, bills of lading , policies of insurance. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1) Security created by way of first charge and to cover the principal together with interest, charges, costs, expenses etc. 2) Interest @ 1.34% above the Bank’s Prime lending rate or at such rate or rates as may be specified by the Bank from time to time. 3) Bank to have power of entry, power of seizure, power to take possession and power to appoint receiver. |
|
5) Name and Address and description of the person entitled to the charge. |
Dresdner Bank AG Nariman Point, Mumbai 400 021, Maharashtra, India |
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 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.48.74 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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. |
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 |
|