%20LIMITED-65492%2012-Nov-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EMERSON CLIMATE TECHNOLOGIES (INDIA ) LIMITED |
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Registered Office : |
1202/1, Ghoel Road, Pune, ;411005, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
19.03.1993 |
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Com. Reg. No.: |
11-71223 |
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CIN No.: [Company
Identification No.] |
U29192PN1993PLC071223 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK05318F |
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PAN No.: [Permanent
Account No.] |
AAACK7291C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Gas Compressors (Hermetically Sealed)
Used in Air Conditioning and Refrigeration. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 8200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company and a part of
kirloskar Group. The company is progressing well. Director are reported as experienced
and respectable businessmen. Trade relations are reported as fair. Business
is active. Payments are usually correct and as per commitments. Fundamentals are strong and healthy. The company can be considered normal for business dealings at usual
trade terms and conditions. The company can be regarded as a promising business partner in a
medium to long-run. |
LOCATIONS
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Registered Office : |
1202/1, Ghoel Road, Pune, ;411005, Maharashtra, India |
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Tel. No.: |
91-20-25534988/ 25534998/ 25536350 |
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Fax No; |
91-20-25534024 |
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E-Mail : |
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Website : |
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Factory: |
Dhebewadi Road, Karad-415110, India |
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Tel No.: |
91-21-64241413 |
DIRECTORS
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Name : |
Mr. Sanjay C. Kirloskar |
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Designation : |
Director |
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Address : |
33, Suyojana Co-Op. Hsg. Society, Scheme-2, Koregaon Park,
OPune;411001, Maharashtra |
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Date of Birth/Age : |
22.03.1957 |
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Date of Appointment : |
01.07.1993 |
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Name : |
Mr. William T. Bosway |
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Designation : |
Director |
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Address : |
House 2, Helene court, 14, Shouson, Hill Road, HongKong |
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Date of Birth/Age : |
09.04.1965 |
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Date of Appointment : |
01.10.2003 |
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Name : |
Mr. K. Taranath |
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Designation : |
Managing Director |
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Address : |
Flat No.402, Azalea Apt. Near Telephon Exchang Baner Pune, Maharashtra |
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Date of Birth/Age : |
14.03.1944 |
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Date of Appointment : |
15.11.2005 |
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Name : |
Mr. Anant Ramkrishna Sathe |
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Designation : |
Director |
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Address : |
4, vinayak Apartment Sahakar nagar, Pune;411009, Maharashtra |
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Date of Birth/Age : |
22.08.1952 |
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Date of Appointment : |
22.11.2005 |
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Name : |
Mr. Dara Phirozshaw Mehta |
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Designation : |
Director |
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Address : |
10, Southlands, 177, Colaba Road, Mumbai;40005, Maharashtra |
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Date of Birth/Age : |
13.07.1933 |
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Date of Appointment : |
26.02.2002 |
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Name : |
Mr. Stephen Stewart |
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Designation : |
Director |
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Address : |
2A, Borrett Mansions, 9, Bowen Road, Honkong |
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Date of Birth/Age : |
13.11.1950 |
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Date of Appointment : |
09.12.1997 |
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Name : |
Mr. Anil Naryan Alawani |
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Designation : |
Director |
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Address : |
Flat No.5, Yshodeep-C, Rambag Colony, Navi Peth, Pune;411030,
Maharahdtra |
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Date of Birth/Age : |
24.08.1945 |
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Date of Appointment : |
31.10.2002 |
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Name : |
Mr. Pradipta T. Sen |
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Designation : |
Director |
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Address : |
304/2, Palms, south City-1, Gurgaon;122001, Haryana, India |
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Date of Birth/Age : |
10.06.1952 |
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Date of Appointment : |
10.02.2004 |
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Name : |
Mr. Pratap P. Chavan |
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Designation : |
Director |
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Address : |
111, Shelford way, Dayton, Ohio;45429, USA |
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Date of Birth/Age : |
10.06.1952 |
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Date of Appointment : |
10.02.2004 |
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Name : |
Mr. Padmakar S. Jawadekar |
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Designation : |
Director |
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Address : |
670, 5th Main road, 12th Cross Road, M.C. Layout,
Vijaynagar, Bangalore;560040, Karnataka |
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Date of Birth/Age : |
26.04.1941 |
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Date of Appointment : |
19.02.2005 |
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Name : |
Mr. Vineet B. Duggal |
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Designation : |
Director |
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Address : |
1224, Clover, Highlands, Off Nibm road, Kondhwa, Pune;411048,
Maharashtra |
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Date of Birth/Age : |
13.08.1967 |
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Date of Appointment : |
27.10.1995 |
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Name : |
Mr. Dilip S Sathe |
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Designation : |
Director |
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Address : |
2618, Tomahwk Ct Sidney-45365, United States of America |
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Date of Birth/Age : |
05.04.1954 |
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Date of Appointment: |
26.07.2006 |
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Name : |
Mr. Gerald Lawrence |
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Designation : |
Director |
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Address : |
305, Saxony-Woods Dirve, Troy-45373 |
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Date of Birth/Age : |
21.11.1949 |
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Date of Appointment: |
26.07.2006 |
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Name : |
Mr. Mark Daniel Dunson |
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Designation : |
Director |
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Address : |
Pacific View, Block 3, Flat No. 35B, 38, Tai Tam Road, Tai Tam Hong
Kon-0 |
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Date of Birth/Age : |
20.12.1963 |
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Date of Appointment: |
26.07.2006 |
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Name : |
Mr. Donal Scott Barbour |
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Designation : |
Director |
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Address : |
836, Beechwood Dr Tipp City OH-45371, US |
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Date of Birth/Age : |
27.12.1961 |
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Date of Appointment: |
27.08.2008 |
MAJOR SHAREHOLDERS
/
As on 23.04.2008
|
Names of Shareholders |
|
No. of Shares |
|
Pradipta P Sen |
|
1 |
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Copeland Corporation |
|
900000 |
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Total |
|
900001 |
Equity Share Breakup (Percentage of Total Equity)
As on 18.07.2008
|
Category |
|
Percentage |
|
Foreign holdings (Foreign institutional investor(s), Foreign companie(s)
Foreign financial institution(s), Non-resident indian(s) or Overseas
corporate bodies or others |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Gas Compressors (Hermetically Sealed) Used
in Air Conditioning and Refrigeration. |
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Products : |
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Exports : |
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Countries : |
Asia, Africa, Middle East, Australia, Saudi Arabia, Oman, Kuwait,
China, Taiwan, Egypt |
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Imports : |
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Countries : |
United Staes, Germany, Thailand, Singapore |
PRODUCTION STATUS
As on 31.03.2008
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Gas Compressors |
Nos. |
2052000 |
972663 |
853732 |
|
Condensing Units |
Nos. |
75000 |
24840 |
6567 |
GENERAL
INFORMATION
|
Bankers : |
·
ICICI Bank Limited, 807/1, Suma House, Bhandarkar Road, Pune-411004,
Maharashtra, India ·
Bank of India, Corporate Banking Branch, LICL Building, 6/7,
Shivajinagar, University Road, Pune-411005, Maharashtra, India ·
Canara Bank, 93/2, Budhwar Peth, Ganpati Chowk, Laxmi Road,
Pune-411002, Maharashtra, India ·
IDBI Bank Limited, 2037/B, Narayan Smriti, Sadashiv Peth, Tilak Road,
Pune-411030, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
A F Ferguson and Company Chartered Accountant |
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Address : |
A F Ferguson and Company Bombay Samachar AMrg, Fort, Mumbai;400001,
Maharashtra, India |
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Name : |
BSR and Company Chartered Accountant |
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Address : |
703, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road,
Pune-411001, Maharashtra, India |
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Holding Company: |
·
Copeland Corporation, USA ·
Emerson Electric Company ( Ultimate Holding Company) |
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Associates: |
·
Emerson Climate Technologies Flow Controls, Hong Kong ·
Coppeland GmbH ·
Emerson Electric (Thailand) Limited ·
Emerson Network Power (India) Private Limited ·
Fustle Division – Emerson Electric Company ·
Fusitle Division – Emerson Electric (Asia) Limited ·
Emerson Climate Technology, U.A.E ·
Emerson Cliamate Technologies ·
Emerson Electric Company (India) Private Limited ·
Emerson Climate Technologies Flow Controls, USA ·
Emerson Electronic Company Missouri ·
Emerson Climate Technologies (Zuzhou) Research and Development company
Limited ·
Smerson Climate Technologies, Inc |
CAPITAL STRUCTURE
As on 23.04.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
900001 |
Equity Shares |
Rs.100/- each |
Rs.90.000 Millions |
Note:
Of the
above 900001 (Previous year 900001) shares are held by Copeland Corporation USAl,
the holding company, and its nominee. The ultimate parent company is Emerson
Electric Company, USA
Upto July, 26, 2006, 450000 (including 458902
Equity Shares of Rs. 100 each, allotted as fully paid up pursuant in th “Deed
of Assignment of business” dated August 31, 1993 without payment having been
received in cash equity share were held by Krilokar Brother Limited
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
90.000 |
90.000 |
90.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1554.240 |
1429.420 |
1622.205 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1644.240 |
1519.420 |
1712.205 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.235 |
0.421 |
69.407 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1.235 |
0.421 |
69.407 |
|
|
DEFERRED TAX LIABILITIES |
101.520 |
93.978 |
116.808 |
|
|
|
|
|
|
|
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TOTAL |
1746.995 |
16313.819 |
1898.420 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
702.902 |
763.630 |
687.034 |
|
|
Capital work-in-progress |
3.229 |
4.586 |
54.192 |
|
|
Capital advance |
6.117 |
1.136 |
36.004 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.503 |
0.508 |
155.132 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
459.525 |
472.264 |
539.293 |
|
|
Sundry Debtors |
630.026 |
672.308 |
660.103 |
|
|
Cash & Bank Balances |
272.089 |
125.683 |
68.768 |
|
|
Other Current Assets |
0.000 |
0.004 |
0.009 |
|
|
Loans & Advances |
672.795 |
186.900 |
227.192 |
|
Total
Current Assets |
2034.435 |
1457.159 |
1495.365 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
822.556 |
504.563 |
434.826 |
|
|
Provisions |
177.635 |
108.637 |
94.481 |
|
Total
Current Liabilities |
1000.191 |
613.200 |
529.307 |
|
|
Net Current Assets |
1034.244 |
843.959 |
966.058 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1746.995 |
1613.819 |
1898.420 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
|
Sales Turnover |
4173.232 |
3353.162 |
3334.022 |
|
|
Other Income |
174.575 |
105.328 |
168.358 |
|
|
Total Income |
4347.807 |
3458.490 |
3502.380 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
213.425 |
294.243 |
396.268 |
|
|
Provision for Taxation |
85.483 |
103.219 |
141.630 |
|
|
Profit/(Loss) After Tax |
127.942 |
191.024 |
254.638 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
1580.497 |
847.629 |
848.531 |
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
406.717 |
258.734 |
NA |
|
|
Stores & Spares |
3.748 |
3.886 |
NA |
|
|
Capital Goods |
10.420 |
16.337 |
NA |
|
|
Others |
149.015 |
393.573 |
NA |
|
Total Imports |
569.900 |
672.530 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
2530.532 |
1572.413 |
1354.197 |
|
|
Purchases made for re-sale |
165.644 |
573.994 |
458.359 |
|
|
Consumption of stores and spares parts |
203.984 |
135.640 |
132.731 |
|
|
Increase/(Decrease) in Finished Goods |
17.225 |
45.788 |
240.419 |
|
|
Salaries, Wages, Bonus, etc. |
192.001 |
222.030 |
176.445 |
|
|
Managerial Remuneration |
4.192 |
3.648 |
5.390 |
|
|
Payment to Auditors |
1.103 |
1.302 |
1.466 |
|
|
Interest |
2.344 |
6.526 |
5.448 |
|
|
Insurance Expenses |
2.532 |
4.807 |
5.877 |
|
|
Power & Fuel |
64.781 |
56.430 |
46.539 |
|
|
Depreciation & Amortization |
112.852 |
139.363 |
104.149 |
|
|
Other Expenditure |
837.192 |
602.306 |
575.092 |
|
Total Expenditure |
4134.382 |
3164.247 |
3106.112 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
2.94
|
5.52 |
7.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.11
|
8.78 |
11.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.79
|
13.25 |
18.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.19 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.61
|
0.40 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
2.38 |
2.83 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
Kirloskar
Copeland Limited |
|
Presented By |
Vineet Duggal , Company
Secretary |
|
1) Date and description of instrument creating the change |
Laon Agreement
dated 23rd june 2004. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.485
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 |
Vehicle make Ford
Ikon -1.3, bearing Registration no.MH 12 CD 6865 |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The amount of
loan of Rs.0.485 Millions sanctioned to the borrower i.e, Kirloskar Copeland
Limited is repayable in 35 equal monthly installments of Rs.0.015 Millions Right of the
Lenders to enter the premises where the vehicles has been kept and inspect
the vehicles. Power to take
charge, possessions, seize sell or deal with vehicle to enforce Lender’s
security and recover the borrower’s outstanding dues of any breach of default by the company. |
|
5) Name and Address and description of the person entitled to the charge. |
Ford Credit Kotak
Mahindra Limited 36-38A, Nariman
Bhavan, 277, Nariman Point, Mumbai:40021 |
|
6) Date and brief description of instrument modifying the charge |
-- |
|
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. |
-- |
|
Corporate
identity number of the company |
U2919PN1993PLC071223 |
|
Name of the
company |
Kirloskar
Copeland Limited |
|
Address of the
registered office or of the principal place of business in India of the company |
1202/1 Ghole
Road, Pune;411005 Maharashtra, India |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
ICICI Bank
Limited 807/1, Suma House, Bhandarkar Road, Pune;411004, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated 15.04.2006 |
|
Date of
instrument Creating the charge |
15.04.2006 |
|
Amount secured by
the charge |
Rs.0.390 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
The Amount of
Loan of Rs. 0.390 Millions sanctioned to the Borrower i.e; Kirloskar Copeland
Limited is Repayable in 36 Equal Monthly installments of Rs. 0.012 Millions
each starting from June 5, 2006 |
|
Description of
the property charged indicating whether it is a charged on |
Vehicles |
|
Particulars of
the property charged |
Vehicle Make
Hyundai- Getz, Bearing Registration No: MH 12 DE 2719 |
Fixed Assets:
·
Land
·
Building
·
Plant Machinery and Equipments
·
Furniture and Fitting
·
Vehicles
NEWS
EMERSON CLIMATE
TECHNOLOGIES OFFERS FIRST SPANISH LANGUAGE NATE PREPARATORY TRAINING COURSES
FOR HVACR INDUSTRY
ST. LOUIS, October
31, 2008 – Emerson Climate Technologies, a business of Emerson (NYSE: EMR),
today announced the first HVACR Spanish language NATE (North American
Technician Excellence, Inc.) certification preparatory courses through
Emerson’s Educational Services. This Spanish language course offering is part
of a larger Emerson Climate Technologies initiative to provide solutions for
and address the key concerns of the growing Hispanic population.
“This course offering is an extension of our efforts at Emerson Climate
Technologies to provide the tools that our Spanish-speaking contractors and
end-users need,” said Geoff Godwin, vice president of marketing, Emerson
Climate Technologies, White-Rodgers Division. “Along with our new Spanish
language thermostat, website, customer helpline and support initiatives, these
latest training modules help us move closer to a total solution for our
Spanish-speaking customers.”
The Emerson Climate Technologies courses currently available in Spanish
are “Understanding Digital Thermostat Operation” and “Resistance and Low
Voltage”. Emerson Climate Technologies plans to continue adding Spanish
language courses based on their available curriculums. Any new courses added
will also seek NATE approval and will be available in instructor-led or online
formats. The courses will be offered in English as well as Spanish.
The first two Spanish language training courses are currently available
on DVD and will be released online.
About Emerson
Emerson (NYSE: EMR), based in St. Louis, is a global leader in bringing
technology and engineering together to provide innovative solutions to
customers through its network power, process management, industrial automation,
climate technologies, and appliance and tools businesses.
About Emerson
Climate Technologies
Emerson Climate Technologies, a business of Emerson, is the world’s
leading provider of heating, ventilation, air conditioning and refrigeration
solutions for residential, industrial and commercial applications. The group
combines best-in-class technology with proven engineering, design, distribution,
educational and monitoring services to provide customized, integrated
climate-control solutions for customers worldwide. Emerson Climate
Technologies’ innovative solutions, which include industry-leading brands such
as Copeland Scroll and White-Rodgers, improve human comfort, safeguard food and
protect the environment. About
Educational Services
Educational Services, a division of Emerson Climate Services, LLC, (a
subsidiary of Emerson Climate Technologies) is a leading provider of
comprehensive training programs and knowledge-management services for the HVACR
industry. The company’s diversified educational resources take a
systems-approach focus on keeping service technicians, manufacturers and
end-users abreast of the latest industry technology and trends. Its offerings
include market-focused seminars, easy-to-use training guides and manuals,
CD-ROM-based learning tools, video training programs and more. Educational
Services is headquartered in Sidney, Ohio.
About White-Rodgers
White-Rodgers, part of Emerson Climate Technologies, has been a leading
provider of home comfort solutions, including thermostats, gas ignition
controls, air cleaners and humidifiers since 1937.White-Rodgers programmable
thermostats are among the most accurate on the market. White-Rodgers is
headquartered in St. Louis.
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 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.47.59 |
|
UK Pound |
1 |
Rs.74.55 |
|
Euro |
1 |
Rs.60.57 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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 |
|