MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
WAM BOMBAY BULK HANDLING EQUIPMENTS INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
Plot No.C-39, B and C Midc TTC Industrial Area, Pawne, Navi
Mumbai-400705, Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.02.1998 |
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Com. Reg. No.: |
113380 |
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CIN No.: [Company
Identification No.] |
U29150MH1998PTC113380 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEW01161G |
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PAN No.: [Permanent
Account No.] |
AAACW1750C |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Automatic Bag Splitling Machine. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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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 200000 |
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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 having fine track.
Financial position is good. Payments are usually correct and as per commitments.
The company is done well. It can be considered good for normal 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 : |
Plot No.C-39, B and C Midc TTC Industrial Area, Pawne, Navi
Mumbai-400705, Maharashtra,India. |
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Tel. No.: |
91-22-27618091 / 27615368 / 27618607 Videoconference:91-22-55999523 / 55999524 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
info@wambombay.com |
DIRECTORS
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Name : |
Mr.Adriano Marchesini |
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Designation : |
Director |
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Address : |
Mirandola,M.O.,VIA-G,Coboto,N-12,Italy-41030 |
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Date of Birth: |
04.05.1934 |
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Date of Appointment : |
07.06.1999 |
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Name : |
Mr.Roberto Marchesini |
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Designation : |
Director |
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Address : |
Modena,VIA Nazonale Per Carpi,1717,Modena-41030,Italy. |
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Date of Birth: |
29.01.1962 |
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Date of Appointment : |
07.05.1999 |
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Name : |
Mr.Anil Manduskar |
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Designation : |
Managing Director |
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Date of Birth : |
29.02.1949 |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9820024699 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
anilm@wambombay.com |
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Date of Appointment : |
04.02.1999 |
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Name : |
Mrs.Priti Manduskar |
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Designation : |
Whole time Director |
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Date of Birth/Age : |
23.10.1949 |
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Date of Appointment : |
04.02.1999 |
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Name : |
Mrs.Nemo Malagoli |
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Designation : |
Director |
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Date of Birth/Age : |
07.03.1958 |
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Date of Appointment : |
07.05.1999 |
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Name : |
Mr.Narcello |
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Designation : |
Director |
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Date of Birth/Age |
18.07.1974 |
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Date of Appointment |
07.05.1999 |
KEY EXECUTIVES
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Name : |
Mr.Kundan Raut |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469215 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
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Name : |
Mr.Amit Popatwala |
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Designation : |
National Sales Manager (All India and Sri Lanka) |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9820424512 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
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Name : |
Mr.Pinaki Mandal |
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Designation : |
Manager-Marketing and Communication(All India) |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469233 |
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Fax No.: |
91-22-27618091 |
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E-Mail : |
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Name : |
Mr.Aparajit Dharwadkar |
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Designation : |
Ast.Manager-Sales(Concrete-All India) |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469232 |
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Fax No.: |
91-22-27618091 |
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E-Mail : |
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Name : |
Mr.Vidula Vedak |
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Designation : |
Executive Assistant |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469224 |
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Fax No.: |
91-22-27618091 |
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E-Mail : |
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Name : |
Mr.Jacinta Immanuel |
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Designation : |
Co-ordinator-Spares Department |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469210 |
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Fax No.: |
91-22-27618091 |
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E-Mail : |
Jacinta@wambombay.com |
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Name : |
Mr.S.Babuji |
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Designation : |
Commercial Manager |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469216 |
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Fax No.: |
91-22-27618091 |
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E-Mail : |
sbabuji@wambombay.com |
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Name : |
Mr.Yogeesha Prabhu |
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Designation : |
Quality Control |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469214 |
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Fax No.: |
91-22-27618091 |
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E-Mail : |
qualitywam@wambombay.com |
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Name : |
Ms.Sneha Salunkhe |
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Designation : |
Accounts Manager |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-99930469219 |
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Fax No.: |
91-22-27618091 |
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E-Mail : |
accounts@wambombay.com |
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Name : |
Mr.S.Rammoham |
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Designation : |
Sales (Tamil Nadu,AP, and Kerala) |
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Tel. No.: |
91-80-25264346 |
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Mobile No.: |
91-9884800403 |
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E-Mail : |
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Name : |
Mr.Manoj Yelmarkar |
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Designation : |
Manager –Purchase |
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Tel. No.: |
91-22-27618091 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
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Name : |
Mr.Ashish Ashutosh |
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Designation : |
Manager Sales (North India) |
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Tel. No.: |
91-124-2380804 |
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Mobile No.: |
91-9811296087 |
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Fax No.: |
91-124-2380805 |
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E-Mail : |
aashish@wambombay.com |
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Name : |
Mr.Alok Goyal |
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Designation : |
Assistant Manager Sales (North India) |
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Tel. No.: |
91-124-2380804 |
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Fax No.: |
91-124-2380805 |
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E-Mail : |
alokg@wambombay.com |
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Name : |
Ms.Shilpa Agarwal |
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Designation : |
Sales Coordinator |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469231 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
shilpa@wambombay.com |
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Name : |
Mr.Vijay Naik |
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Designation : |
Head-Production |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9879512268 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
vijayn@wambombay.com |
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Name : |
Mr.Yatin Wadile |
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Designation : |
Sales (Maharashtra and Goa) |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469225 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
yatinw@wambombay.com |
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Name : |
Mr.Anant Wagh |
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Designation : |
Sales (Mumbai) |
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Tel. No.: |
91-22-27618091 |
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Mobile No.: |
91-9930469228 |
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Fax No.: |
91-22-27618498 |
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E-Mail : |
anantw@wambombay.com |
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Name : |
Mr.Balaji Bisoyi |
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Designation : |
Dy Manager Sales (East and North East) |
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Mobile No.: |
91-9320708350 |
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E-Mail : |
balajib@wambombay.com |
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Name : |
Mr.Gangadhara S |
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Designation : |
Dy Manager Sales (Karnataka) |
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Tel. No.: |
91-80-41483046 |
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Mobile No.: |
91-9739136882 |
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Fax No.: |
91-80-41483046 |
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E-Mail : |
gangadhars@wambombay.com |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2005
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Names of Shareholders |
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No. of Shares |
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Mr.Anil Manduskar |
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5778 |
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Mrs.Priti Manduskar |
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100 |
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Wangroup |
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17020 |
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AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
75.00 |
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Directors or relatives of directors |
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25.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Automatic Bag Splitling Machine |
GENERAL
INFORMATION
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Bankers: |
Not Available |
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Auditors : |
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Name : |
Sudhir Valiaa and Associates Chartered Accountant |
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Address : |
206,Hanuman Industrial Estate,G.D.Ambedkar Marg,Wadala,Mumbai-400031
,Maharashtra,India. |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 100/- Each |
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23500 |
Equity Shares |
Rs. 100/- Each |
Rs.2.350 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.350 |
2.350 |
1.720 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
56.393 |
23.165 |
9.115 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
58.743 |
25.515 |
10.835 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
26.000 |
26.000 |
0.000 |
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TOTAL BORROWING |
26.000 |
26.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
1.505 |
0.966 |
0.178 |
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TOTAL |
86.248 |
52.481 |
11.013 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.845 |
25.596 |
2.679 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
55.297
|
42.485 |
27.935 |
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Sundry Debtors |
82.800
|
46.146 |
23.557 |
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Cash & Bank Balances |
6.060
|
9.711 |
1.951 |
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Other Current Assets |
0.000
|
0.000 |
4.391 |
|
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Loans & Advances |
31.124
|
14.955 |
1.826 |
|
Total
Current Assets |
175.281
|
113.297 |
59.660 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
95.728
|
72.378 |
45.713 |
|
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Provisions |
28.150
|
14.034 |
5.613 |
|
Total
Current Liabilities |
123.878
|
86.412 |
51.326 |
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Net Current Assets |
51.403
|
26.885 |
8.334 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
86.248 |
52.481 |
11.013 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.55
|
4.40 |
4.73 |
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Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.31 |
1.16 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Since
WAMGROUP Chairman and C.E.O., Vainer Marchesini, set up his first workshop back
in 1969 as a one-man-operation to manufacture screw conveyors, the name WAM®
has come to stand for innovation in bulk material handling technology and
equipment supply
Today,
WAMGROUP manufactures and supplies a comprehensive product range including
equipment for Bulk Material Handling, Dust Filtration, Solids-Liquid
Separation, Mixing and Vibration Technology
Strongly
focused on the requirements of the market, WAMGROUP aims to produce
customer-oriented solutions and to turn them into a particularly user-friendly
standard
High
quality and a price-performance ratio make WAMGROUP equipment the ideal choice
for every project engineer and gives the customer the best deal available on
the market
Uncompromising
dedication to R and D is the foundation of a vast product range and leads time
and again to the development of custom-designed equipment from standardized
modular components.
Highly
rationalized and cost-effective CAD/CAM-supported production methods and
logistics have been constantly improved throughout the years and now can be
considered "state of the art".
The
VISION 2000 quality management gives every WAMGROUP customer the assurance that
the equipment he is going to use has been checked and tested in each phase of
the manufacturing process.
WAMGROUP’s
worldwide sales network including subsidiaries and distributors offers each and
every user professional advice, smooth order management and a ‘round the clock’
spares service.
For
major integration with overseas markets, in the 1990s WAMGROUP started to set
up assembly plants for their major product lines in other continents following
the principle of centralized production and decentralized assembly.
At the
beginning of the 3rd millennium WAMGROUP stands for particularly lean
structures and maximum synergies between the Group’s members.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.94 |
|
UK Pound |
1 |
Rs.85.57 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|