MIRA
INFORM REPORT
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Report Date : |
31.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
NORD DRIVESYSTEMS PRIVATE LIMITED |
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Registered Office : |
282/2, 283/3 Village Mann Taluka, Mulshi, Adj Hinjewadi, MIDC Phase
II, Pune – 411 057, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
21.03.2005 |
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Com. Reg. No.: |
11-20440 |
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CIN No.: [Company
Identification No.] |
U29130PN2005PTC020440 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEN04783C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of high quality Mechanical Products and
Electronic Products. |
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 400000 |
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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 subsidiary of Getriebe Ban NORD GmbH and CO KG, Germany.
Trade relations are fair. Business is active. The company can be considered good for normal business dealings in
view of strong promoters. |
INFORMATION PARTED
BY
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Name : |
Mrs. Trusha Deshmukh |
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Contact No.: |
91-9370104630 |
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Date : |
31.05.2008 |
LOCATIONS
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Registered Office : |
282/2, 283/3 Village Mann Taluka, Mulshi, Adj Hinjewadi, MIDC Phase
II, Pune – 411 057, Maharashtra, India |
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Tel. No.: |
91-20-39801200 |
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Mobile No.: |
91-9370104630 |
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Fax No.: |
91-20-39801316/ 39801216 |
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E-Mail : |
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Website : |
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Factory : |
21 Vedas Centre, D P Road, Aundh, Pune – 411 007, Maharashtra, India |
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Tel. No.: |
91-20-66080400 |
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Fax No.: |
91-20-25888872 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Sunil Rasik Mehta |
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Designation : |
Director |
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Address : |
Flat No. 16/AB – B – 3, Building, Madhuwanti Raagdari Apartment, D P
Road, Aundh, Pune – 411 007, Maharashtra, India |
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Date of Birth/Age : |
02.08.1958 |
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Date of Appointment : |
21.03.2005 |
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E-Mail: |
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Name : |
Mrs. Neena Sunil Mehta |
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Designation : |
Director |
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Address : |
Flat No. 16/AB – B – 3, Building, Madhuwanti Raagdari Apartment, D P Road,
Aundh, Pune – 411 007, Maharashtra, India |
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Date of Birth/Age : |
07.12.1964 |
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Date of Appointment : |
21.03.2005 |
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E-Mail: |
KEY EXECUTIVES
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Name : |
Mr. Immaculate William Fernandes |
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Designation : |
Secretary |
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Address : |
E -201, Kumar Pragati, Opp. IBM Road, Kondhwa – 411 048, Maharashtra,
India |
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Date of Birth/Age : |
08.09.1978 |
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Date of Ceasing ; |
28.11.2007 |
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Mobile No.: |
91-9890575824 |
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PAN No.: |
AGTPD3671K |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on
31.12.2006) |
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No. of Shares |
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Getrie Ebebau Nord GmbH and Co KG |
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2554574 |
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Mr. Ullrich Kuechenmeister |
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1 |
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Equity Share Break Up (as on 31.12.2006) |
Percentage |
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Foreign holdings
(Foreign institutional investors ) foreign companies foreign financial
institutions , non residents or Overseas corporate bodies or others |
100 % |
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Total |
100
% |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of high quality Mechanical Products and
Electronic Products. |
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Imports : |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Manufacturers |
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No. of Employees : |
44 |
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Bankers : |
Union Bank of India, DP Road, Aundh, Pune
– 411 007, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sharad and Company Chartered Accountants |
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Address: |
Gokul Nagar, B, 1184/4, Fergusson College Road, Pune – 411 005,
Maharashtra, India |
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Holding Company: |
Getriebebau Nord GmbH and Co KG |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on 31.12.2006):-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000000 |
Equity shares |
Rs. 10/- each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9718139 |
Equity Shares |
Rs. 10/-
each |
Rs.97.181
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.12.2006 |
31.12.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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97.181 |
24.472 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[1.131] |
[1.106] |
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NETWORTH |
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96.050 |
23.366 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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36.816 |
0.000 |
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TOTAL BORROWING |
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36.816 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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132.866 |
23.366 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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20.386 |
19.493 |
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Capital work-in-progress |
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61.407 |
2.762 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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49.685 |
1.322 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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5.460 |
0.441 |
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Total
Current Assets |
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55.145 |
1.763 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.072 |
0.652 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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4.072 |
0.652 |
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Net Current Assets |
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51.073 |
1.111 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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132.866 |
23.366 |
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KEY RATIOS
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PARTICULARS |
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31.12.2006 |
31.12.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.43 |
0.03 |
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Current Ratio (Current Asset/Current Liability) |
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13.54 |
2.70 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporation identity number or foreign company registrations number of
the company |
U29130PN2005PTC020440 |
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Name of the company |
NORD DRIVESYSTEMS PRIVATE LIMITED |
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Address |
282/2, 283/3 Village Mann Taluka, Mulshi, Adj Hinjewadi, MIDC Phase
II, Pune – 411 057, Maharashtra, India |
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This Form is for |
Creation of Charge |
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Type of Charges |
Others |
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Particular of the charge holder
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Union Bank of India DP Road, Aundh, Pune – 411 007,
Maharashtra, India |
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Nature or description of the instrument creating charge |
Term Loan agreement |
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Date of the instrument creating charge |
28.01.2008 |
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Amount Secure by the charge |
Rs. 25.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : The company had taken only non fund based limit,
so this clause is not applicable. Terms of Repayment: As per Due Date Margin: 15% Extent and operation of the Charge: First charge on only painting booth which
comes under the category of plant and machinery situated in the plant. |
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Short Particulars of the Property charged |
Painting Booth which comes under plant and
machinery category situated in the plant |
OTHER
INFORMATION:-
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PARAMETER |
DETAIL |
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Statutory
Approval |
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Legal Status of firm |
AACCN0708R |
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Income Tax Registration |
27430389215C |
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Import Export Code |
3105019723 |
NOTES:
ISO certificates is there but it is with the Head Office that is in
Germany.
TRADE REFERENCES:
· Pari Robotic, Pune
· Eelctro Mech, Pune
WEBSITE DETAILS:
Profile
Subject has scaled industrial heights with its commitment to quality and
unrelenting efforts. Subject is a manufacturer and exporter of high quality
mechanical products and electronic products. Their products are an outcome of
an extensive research and a stringent manufacturing process.
Whole Products Range
1.) Geared Motor and Geared Box upto 200 KW
2.) Energy efficient Motors
3.) VFD's -upto 160 KW
Details of Main Products
Mechanical Products
Unicase Helical Inline geared motors and gear boxes
· Power range -0.12kw -160kw
· Torque range -up to 26000 NM
Unicase Helical
Parallel Shaft geared motors and gear boxes
· Power range -0.12kw -200kw
· Torque range -upto 1,00,000.00 NM
Unicase Helical Bevel
geared motors and gear boxes
· Power range-0.12kw-l60kw
· Torque range -upto 32000 NM
Unicase Helical Worm
geared motors and gear boxes
· Power range -0.12kw -15kw
· Torque range -upto 3058 NM
Universal Worm geared
motors and gear boxes
· Power range -0.l2kw -4.0kw
· Torque range -up to NM
Energy Efficient
Motors -EFF1 class
· Power Range-1.1 kw-90kw
Frequency Inverter
-SK 500E
· 0.25kw to 7.5kw single phase as well as three phase input
· Encoder Feedback Card also Possible -SK 520E
Frequency Inverter
-SK 700E
· 5kw to 160kw
· three phase input
· Encoder Feedback Card, Position Control Card
· Suitable for profibus, Can Bus, Interbus, Devicenet, can open communication options.
Nordac Trio -Geared
Motor with Motor Mounted Inverter
· Power Range -0.55kw -4.0kw
· IP66 protected, Class B integrated line filter
· Suitable for - potentiometer, profibus, interbus, canbus/canopen, devicenet.
Decentral Drive
Solutions -
· Electronic Motor Starters
· Electronic Motor Soft Starters
· Electronic Motor Reverse Starter
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.42.59 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.99 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
---- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
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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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 |
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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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