1. Summary Information
|
|
|
Country |
|
|
Company Name |
ESCORTS
CONSTRUCTION EQUIPMENTS LIMITED |
Principal Name 1 |
Mr. Rajan Harprasad Nanda |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Ritu Nanda |
|
|
|
Registration # |
05-040956 |
|
Street Address |
11, Scindia House, |
||
|
Established Date |
17.02.1994 |
SIC Code |
-- |
|
Telephone# |
91-129-2268152 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-129-2268152 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Pick and Carry Cranes |
|
|
# of employees |
-- |
Product Name 2 |
Slew Cranes |
|
Paid up capital |
Rs.1139,644,970/- |
Product Name 3 |
Crawler Cranes |
|
Shareholders |
Bodies corporate 100.00% |
Banking |
Oriental Bank of Commerce |
|
Public Limited Corp. |
NO |
Business Period |
16 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
|
Escorts Technologies Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
30.09.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,743,690,000 |
Current Liabilities |
1,449,356,000 |
|
Inventories |
1,156,356,000 |
Long-term Liabilities |
828,352,000 |
|
Fixed Assets |
946,481,000 |
Other Liabilities |
35,859,000 |
|
Deferred Assets |
0 |
Total Liabilities |
2,313,567,000 |
|
Invest& other Assets |
140,000 |
Retained Earnings |
393,455,000 |
|
|
|
Net Worth |
1,533,100,000 |
|
Total Assets |
3,846667,000 |
Total Liab. & Equity |
3,846,667,000 |
|
Total Assets (Previous Year) |
3,177,763,000 |
|
|
|
P/L Statement as of |
30.09.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
7,868,957,000 |
Net Profit |
21,121,000 |
|
Sales(Previous yr) |
4,617,140,000 |
Net Profit(Prev.yr) |
21,459,000 |
MIRA
INFORM REPORT
|
Report Date : |
29.04.2010 |
IDENTIFICATION DETAILS
|
Name : |
ESCORTS
CONSTRUCTION EQUIPMENT LIMITED |
|
|
|
|
Registered Office : |
Plot No.219,
Sector 58, Ballabhgarh , |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
17.02.1994 |
|
|
|
|
Com. Reg. No.: |
05-040956 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899HR1994PLC040956 |
|
|
|
|
IEC No.: |
0595009123 |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability company. |
|
|
|
|
Line of Business : |
Manufacturing of Pick-n-carry
Craves, Hydraulic Mobile Craves, Vibratory Compactors for Sail Asphalt
Tandems Rollers, Slew Craves and Forklifts |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6132000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of escort group. It is a well established and a
reputed company having satisfactory track. Trade relations are reported as
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
LOCATIONS
|
Registered
Office : |
Plot No.219,
Sector 58, Ballabhgarh , |
|
Email : |
|
|
Website: |
|
|
|
|
|
Factory : |
Plot No. 2,
Sector 13, Faridabad-121 001, |
|
Tel. No.: |
91-129-5283073,/5286694/
5290793/ 5223561/ 5223562/ 5284810/ 2268152 |
|
Fax No.: |
91-129-5283065/
5261323 / 2268152 |
|
E-Mail : |
|
|
|
|
|
Area : |
Leased |
|
|
|
|
Branch : |
Located at : ·
Mumbai
·
·
Chennai
·
·
Uttar
Pradesh ·
Jaipur
·
·
·
Pune
·
Ahmedabad
·
Secunderabad
·
|
DIRECTORS
As on 29.11.2010
|
Name : |
Mr. Rajan
Harprasad Nanda |
|
Designation : |
Chairman |
|
Address : |
2, Friends Colony
(West), New Delhi-110065, |
|
Date of Birth/Age
: |
15.10.1942 |
|
Date of
Appointment : |
17.02.1994 |
|
DIN No.: |
00043256 |
|
|
|
|
Name : |
Mrs. Ritu Nanda |
|
Designation : |
Director |
|
Address : |
2, Friends Colony
(West), New Delhi-110065, |
|
Date of
Birth/Age : |
30.10.1948 |
|
Date of
Appointment : |
10.04.1997 |
|
|
|
|
Name : |
Mr. Girish Bihari
Mathur |
|
Designation : |
Director |
|
Address : |
D-23, 1st
Floor, Sarita Vihar, New Delhi-110044, |
|
Date of
Birth/Age : |
20.07.1950 |
|
Date of
Appointment : |
10.05.2007 |
|
|
|
|
Name : |
Mr. Odayammadath
Koroth Balraj |
|
Designation : |
Director |
|
Address : |
Flat No. 101, |
|
Date of
Birth/Age : |
11.05.1956 |
|
Date of Appointment
: |
26.11.2009 |
|
DIN No.: |
01873868 |
|
|
|
|
Name : |
Mr. .Nikhil Nanda |
|
Designation : |
Director |
|
Address : |
2, Friends Colony
(West), New Delhi-110065, |
|
Date of
Birth/Age : |
18.03.1974 |
|
Date of
Appointment : |
30.06.2004 |
|
|
|
|
Name : |
Mr. Subhash
Chandra Bhargava |
|
Designation : |
Director |
|
Address : |
1309, Dosti Aster, Dosti Acers New Uphill Link Road, Off SM Road,
Antop Hill, Wadla East, Mumbai-400037, Maharashtra, India. |
|
Date of
Birth/Age : |
20.07.1945 |
|
Date of
Appointment : |
23.03.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Raman Sharma |
|
Designation : |
Secretary |
|
Address : |
House No. 742, 1st Floor, Sector 15A, Faridabad-121007, |
|
Date of Birth
: |
30.10.1973 |
|
Qualification: |
B. Tech., PGDBA |
|
Date of
Appointment : |
11.09.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2010
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Escorts Limited |
|
113963697 |
|
Escorts Limited joint Rajan Harprasad Nanda |
|
100 |
|
Escorts Limited joint Anil Nanda |
|
100 |
|
Escorts Limited joint Nikhil Nanda |
|
100 |
|
Escorts Limited joint Ritu Nanda |
|
100 |
|
Escorts Limited joint Vinod Dixit |
|
200 |
|
Escorts Limited joint Prabhat Kumar |
|
100 |
|
Escorts Limited joint Asit Mishra |
|
100 |
|
Total |
|
113964497 |
As on 31.12.2010
|
Equity share
breakup |
|
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Pick-n-carry Craves, Hydraulic Mobile Craves, Vibratory Compactors for Sail
Asphalt Tandems Rollers, Slew Craves and Forklifts |
||||||||
|
|
|
||||||||
|
Products : |
MATERIAL HANDLING EQUIPMENTS · Pick and Carry Cranes · Slew Cranes · Crawler Cranes · Truck Cranes · Articulated Boom Cranes · Tower Cranes · Tower Cranes · Telehandlers · ROAD CONSTRUCTIONS
EQUIPMENTS
· Vibratory Soil Compactor ·
Tandem
Vibratory Roller |
||||||||
|
|
|
||||||||
|
Agencies Held : |
·
Daewoo,
Heavy Industries ·
·
Hamm AG,
Germany- Tandeur Vib.Roller |
PRODUCTION STATUS as on 31.03.2009
|
Particulars |
|
|
Unit |
Actual Production |
|
Cranes on Tyres |
|
|
Nos. |
2762 |
|
Front end shovel loaders and road rollers |
|
|
Nos. |
469 |
GENERAL INFORMATION
|
Bankers : |
·
Bank
of Rajasthan ·
Allahabad
Bank ·
Bank
of ·
Indusand
Bank Limited, ·
Industrial
Development Bank of ·
Indusand
Bank Limited, 28, Gopal Dass Bhawan, ·
Oriental
Bank of Commerce, E Block, Connaught Place, New Delhi-110001, ·
Axis
Bank Limited, Statesman House, ·
Axis
Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar Temple,
Law Garden Ellisbridge, Ahmedabad-380006, Gujarat, India. ·
State
Bank of |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Facilities : |
Note:
|
|
Financial Institution : |
IL and FS Trust Company Limited, IL and FS Financial Centre Plot No.
C22 G Block Bandra, Kurla Complex Bandra East, Mumbai-400051, |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
S. N. Dhawan and Company Chartered
Accountants |
|
Address : |
C-37, |
|
Tel. No.: |
91-11-23416322 /
23417564 |
|
Fax No.: |
91-11-23415021 |
|
E-Mail : |
|
|
PAN.: |
AAQFS0580H |
|
|
|
|
Holding Company : |
Escorts Limited
(L74899DL1944PLC001860) |
|
|
|
|
Fellow Subsidiaries : |
·
Escorts
Automotive Limited |
|
|
|
|
Associates/Subsidiaries : |
As on 31.03.2009 ·
Escorts
Agrimachinery Inc. ·
Escorts
Heart Institute And Research Cerntre Limited ·
Escorts
Technologies Limited ·
Escorts
Techinologies ( ·
Escorts
Technologies ( ·
Escorts
Singapore Pte Limited ·
E-Soft
( ·
IFS
Solutions India Private Limited ·
Escorts
Services Limited ·
Cellnext
Solutions Limited ·
Serv
India Solutions Private Limited ·
Escorts
Securities Limited ·
Escorts
Asset Management Limited ·
Escorts
Health Care Services Limited ·
Automatrix
India Private Limited ·
Escorts
Heart And Super Specialty Institute Limited ·
Escorts
Heart Center Limited ·
Escorts
Mobile Communications Limited ·
·
Escorts
Telecommunications Limited ·
Escorts
Telecom Services Limited. (Formerly
Escorted Telecommunication Limited) |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
119000000 |
Equity Share |
Rs.10/- Each |
Rs. 1190.000 Millions |
|
31000000 |
Preferences Shares |
Rs.10/- Each |
Rs. 310.000 Millions |
|
|
Total |
|
Rs. 1500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
113964497 |
Equity Share |
Rs.10/- Each |
Rs. 1139.645 Millions |
Note:
- 113964497 (Previous Year 39999990) Equity shares held by Escorts
Limited (The Holding Company)
- During the period 5% Redeemable optionally Convertible Cumulative
Preference Shares have been converted into equity shares
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2010 (18 Months) |
31.03.2009 (12 Months) |
31.03.2008 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1139.645 |
710.000 |
710.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
393.455 |
361.979 |
358.654 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1533.100 |
1071.979 |
1068.654 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
828.352 |
900.882 |
774.283 |
|
|
2] Unsecured Loans |
0.000 |
100.000 |
0.000 |
|
|
TOTAL BORROWING |
828.352 |
1000.882 |
774.283 |
|
|
DEFERRED TAX LIABILITIES |
35.859 |
23.312 |
3.517 |
|
|
|
|
|
|
|
|
TOTAL |
2397.311 |
2096.173 |
1846.454 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
946.481 |
948.500 |
178.535 |
|
|
Capital work-in-progress |
0.000 |
2.020 |
393.435 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.140 |
0.140 |
105.390 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1156.356
|
983.228
|
793.597
|
|
|
Sundry Debtors |
1361.013
|
879.311
|
1180.587
|
|
|
Cash & Bank Balances |
101.604
|
104.554
|
330.642
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
281.073
|
260.010
|
198.944
|
|
Total
Current Assets |
2900.046
|
2227.103
|
2503.77
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1005.354
|
758.830
|
0.000
|
|
|
Other Liabilities |
428.713
|
250.074
|
1280.882
|
|
|
Provisions |
15.289
|
36.343
|
55.445
|
|
Total
Current Liabilities |
1449.356
|
1081.590
|
1336.327
|
|
|
Net Current Assets |
1450.690
|
1145.513
|
1167.443
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
1.651 |
|
|
|
|
|
|
|
|
TOTAL |
2397.311 |
2096.173 |
1846.454 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2010 (18 Months) |
31.03.2009 (12 Months) |
31.03.2008 (12 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7868.957 |
4617.140 |
5365.791 |
|
|
|
Other Income |
121.401 |
74.784 |
158.414 |
|
|
|
TOTAL (A) |
7990.358 |
4691.924 |
5524.205 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material, Manufacturing and Operating |
6406.586 |
3717.867 |
4177.850 |
|
|
|
Personnel |
482.086 |
241.674 |
170.916 |
|
|
|
Sales and Administration |
803.856 |
553.002 |
754.892 |
|
|
|
TOTAL (B) |
7692.528 |
4512.543 |
5103.658 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
297.830 |
179.381 |
420.547 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
137.097 |
72.072 |
15.917 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
160.733 |
107.309 |
404.630 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
119.434 |
50.165 |
14.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41.299 |
57.144 |
390.496 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
20.178 |
35.685 |
128.877 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
21.121 |
21.459 |
261.619 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
361.980 |
358.655 |
114.574 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
15.500 |
14.990 |
|
|
|
Tax on Dividend |
0.000 |
2.634 |
2.548 |
|
|
BALANCE CARRIED
TO THE B/S |
383.101 |
361.980 |
358.655 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB Basis |
77.754 |
77.416 |
91.293 |
|
|
|
Warranty and other reconvenes |
1.109 |
0.756 |
0.582 |
|
|
|
Commission received |
39.822 |
13.106 |
2.601 |
|
|
TOTAL EARNINGS |
118.685 |
91.278 |
94.476 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
359.417 |
208.302 |
251.927 |
|
|
|
Stores & Spares |
84.401 |
42.797 |
37.996 |
|
|
|
Capital Goods |
10.282 |
40.916 |
7.241 |
|
|
|
Others |
244.108 |
203.546 |
179.551 |
|
|
TOTAL IMPORTS |
698.208 |
495.561 |
476.715 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.034 |
0.08 |
6.10 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2010 (18 Months) |
31.03.2009 (12 Months) |
31.03.2008 (12 Months) |
|
PAT / Total Income |
(%) |
0.26
|
0.46 |
4.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.52
|
1.24 |
7.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.07
|
1.80 |
14.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.05 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.48
|
1.94 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00
|
2.06 |
1.87 |
LOCAL AGENCY FURTHER INFORMATION
Change of Registered
Office:
Registered Office of the company has been shifted from, 11
SCINDIA House, Connaught Circus,
110001,
Financial Performance
and Future Prospects
Company has achieved a turnover of Rs. 8500.000 Millions in 18 months
Period as compared to Rs.5130.000 Millions in 12 months of previous year.
Company’s operating margins continues to be under pressure and there is
marginal decline in EBITDA ratio in comparison to previous year. Due to full
impact of depreciation on new plant and interest, PBT in current period is
lower than that of the previous year.
To improve operating margins company has taken the following initiaves:
- Project Score:
Eicher Consultancy Service (ECS) has been roped in to Ilk the cost saving
potentials in the areas of manufacturing, logistics, value engineering
etc. Areas where potential exists are identified and work is going on and
substantial savings will flow in the coming year onward.
- CS has been given the responsibility of role realignment of role realignment, recommend optimum resources, design lean organization and design functional competency framework With the initiative company excepts increase in productivity, performance and reduction in menpower cost.
- Company has
tied up for documentation and implementation of key processes with the
help of outside consultant. This will help in better controls, consistency
and eventually savings.
- In house
terms are working on Value Engineering, Operational efficiencies and
negotiations with vendors.
Above initiatives will help in substantial improvement in the operating
margins for coming years.
Contingent
Liabilities:
|
Contingent
Liabilities: |
As
on 30.09.2010 (Rs. In Millions) |
As
on 31.03.2009 (Rs. In Millions) |
|
Counter guarantee given to banks against the guarantees given by them
on behalf of the company |
214.687 |
133.333 |
|
Demand Raised by Sales Tax authorities, being disputed by the company,
the company is hopeful of getting substantial relief in appeals, the company
has deposited a sum of Rs. 9.272 Millions (Previous Year Rs. 8.363 Millions)
against the above demands, which is appearing under Loans and Advances. |
10.545 |
8.836 |
|
Other claims against the company not acknowledge as debts. |
0.745 |
1.467 |
|
Liability towards Surety Bond in favour of Govner of Harayana for Sales
Tax Registration under VAT of Escorts Limited (The holding Company) |
35.000 |
35.000 |
|
Demands raised by Income tax Authorities being disputed by the
company, the company is hopeful of getting substantial relief in appeals. |
25.739 |
19.465 |
|
Haryana Local Area Development Tax (HLADT) |
49.235 |
0.000 |
|
Total |
335.951 |
198.101 |
Form 8
|
Corporate
identity number of the company |
U74899HR1994PLC040956 |
|
Name of the
company |
ESCORTS CONSTRUCTION
EQUIPMENT LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 219,
Sector 58, Ballabhgarh, |
|
This form is for |
Modification
of Charge |
|
Charge identification
(ID) number of the charge to be modified |
10259481 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of —110001, |
|
Nature of
instrument creating charge |
No instrument was
executed. Second Part Passu Charge by way of Equitable Mortgage was created,
by constructive delivery of title deeds already deposited with IL&FS
Trust Company Limited (ITCL), in respect of Company’s freehold land being a
part of site at Plot No. 219, Sector 58, Ballabhgarh, Haryana, acting as
Agent for and on behalf of State Bank of Patiala to secure credit facilities
of Rs.500.000 Millions granted by State Bank of Patiala to Escorts
Construction Equipment Limited (Borrower) |
|
Date of
instrument Creating the charge |
15.12.2010 |
|
Amount secured by
the charge |
Rs. 500.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per the
agreement Terms of Agreement: As per the
agreement Margin: As per the
agreement Extent and operation of the charge: Second Pan Passu
Charge by way of Equitable Mortgage by
constructive delivery of title deeds of Land & Building
situated at Plot No. 219, Sector 58,
Ballabhgarh, Haryana to secure the Working Capital
Facility of Rs. 500.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation on Current
Assets of the Material, stores, finished
goods etc. lying in the Factory,
go-down, Elsewhere
Companies book debts/
receivables both Present & Future)
excluding the property specifically charged to Indusand Bank Ltd.
Equitable Mortgage on Land &
Building situated at Plot No. 219, Sector
58, Ballabhqarh, Haryana |
|
Particulars of
the present modification |
Further Second
Pan Passu Charge by way of Equitable
Mortgage was created, by constructive delivery of title deeds already
deposited with IL&FS Trust Company Limited (ITCL), in respect of
Company’s freehold land being a part of site at Plot No. 219, Sector 58,
Ballabhgarh, Haryana, acting as Agent for and on behalf of State Bank of
Patiala to secure credit facilities of Rs.500.000 Millions, granted by State
Bank of Patiala to Escorts Construction Equipment Limited (Borrower) |
Fixed Assets:
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Computer
- Vehicles
AS PER WEB DETAILS:
Profile
The company defined the evolution of
In 1971, they introduced Pick n Carry
Hydraulic Cranes Mobile Cranes. They continue to be the World's No.1
manufacturer of this Product.
They successfully pioneered the concept of
Backhoe Loaders in the late 70's.
The World Class range of Vibratory
Compactors that they first introduced in the late 80's are today reputed to
provide the most effective compaction solutions to the industry.
The Innovation Continued... Excavators,
amongst the world's most advanced, that revolutionized earth moving technology
in
Forklift Trucks that are today the preferred
choice of the quality conscious users.
In the new millenium, they presented a
contemporary range of equipment- Articulated Boom Crane, Tower Crane, Crawler
Crane and Power and Telecom utility material from the world leaders.
They defined customer support by setting up the first pan
Milestones
2009
Subject has recently commissioned
its state-of-art manufacturing plantrolling out pick-n-carry cranes and
vibratory compactors.
2008
The new facility located at
Ballabhgarh in Faridabad District is equipped with inbuilt hi-tech technology,
housing all the modern facilities under one roof.
Subject to market the world renowned
'LeeBoy' brand of equipment for road construction and maintenance purposes,
complementing its existing range.
Subject launches Fully Hydraulic
Crawler Cranes.
2007
Subject launches
Construction of new manufacturing
facility started at Ballabhgarh and Rudrapur
Subject receives the Awards in two categories
at 5th Construction World –NICMAR Award- the Second fastest Growing
Construction Equipment Company and Third largest Construction equipment Company
TRX Series of Pick-n- Carry cranes launched in the category of 23 T , 17
T and 16 T at EXCON -2007. TRX 2319, a 23 T Crane being the Largest Crane in
this category in the world
2006
Training Facility at Started at
HP 216, a new generation Pick n Carry Crane Came into existence
2005
2420 – a 12 T Soil Vibratory Roller and ED -30 a 3 T Mini
Tandem Vibratory Roller were Launched during EXCON 2005
2002
MAC 1214 – a wreckage recovery crane was designed , launched and record
280 machines were sold in launch year
2001
HD-85 – Tandem Vibratory Roller was launched
1999
ESCORTS K10
The Next Generation Pick-N-Carry Crane.
Introduced LPG Forklifts in
1997
Escorts Franna All Terrain PNC crane
1995
Escorts Fassi Articulated Boom Cranes (1.72 Tm – 78 Tm)
Escorts Daewoo Fork Lift Trucks(2T to 15T)
1987
Vibratory Roller 10T Class
1983
Rough Terrain Hydraulic Mobile Crane
1971
Subject introduces Pick n Carry Cranes and
Front End Loaders
1970
News:
ECEL has announced the appointment of Mr. Kanwal Kishore Vij as the Executive Director and Chief Executive Officer of the Company.
Customers
expresses the Escorts Hydra Crane 'as their Lifeline'
Our Customers in Bijolia area have expressed the crane as their lifeline. The adoption of the crane for this application stems from the fact that Escorts cranes are reliable, rugged and efficient. The customer support by the ECEL dealer Drillcon has also made the difference.
Training Programmes
Escorts to help the Government
of
In a new tie up, the compactors
produced by ECEL will be used in developing a modern and international level
road network in the south-eastern country of
Mega Service Camp for Crane Operators:
To train customers on safe usage of Pick-n-Carry Cranes,
Escorts Construction Equipment Limited organized a Mega Service Camp in
ECEL contribution Towards Indian Defence Forces: Training Conducted at Air Force Station Jalahali for air warriors on 360 degree Slew Crane and Border Road Organisation Training on Vibratory Compactors at Leh/Ladhak-11500 Feet above the Sea Level at DGBR Field Workshops.
Escorts Construction Equipment Ltd successfully conducted the Certification and Training Programme for Escorts Machines at Varun Beverages Bhiwadi Plant having dated 19/02/09.This Training was conducted by Shri Amit Rawat.
Escorts Construction Equipment Ltd
successfully conducted the Operation and Maintenance Training Programme
for Escorts Doosan forklifts at Varun Beverages
Media Coverage
December 2009, Construction Equipment
ECEL Ventures into New Territories
December 2009, Commercial Vehicle
We have managed our Business Quiet well during the Slowdown" -Rajesh Sharma, VP sales and Marketing ECEL.
NBM and CW, Nov 2009
We have Transformed Our Manufacturing Capabilities"-Rajesh Sharma, VP sales and Marketing ECEL.
Equipment
Mr. KK Vij, ED and CEO, ECEL talks on the material handling equipment sector and key challenges faced by industry.
July 2009,
Construction world
Top Notch hoisting and Lifting Equipment can give any construction Project a Boost...
July 2009, Construction world
All set For a Lift
July 2009, Construction week
“Our Sales and Service Network
Spans over 104 locations across the Country"-Rajesh Sharma, VP sales and
Marketing ECEL.
June 2009, Equipment
ECEL focuses on Quality and Technical Superiority.
May 2009, New
Building Material and Construction World
ECEL Starts Production on its
May 2009, New Building Material and Construction World
Escorts to make Backhoe Loaders.
March 2009,
Commercial Vehicle
Escorts. Pioneering advancement of the Construction Industry.
March-April 2009,
Construction Technology
ECEL Bullish on TRX 2319.
August 2008, Commercial Vehicle
Pick-n-carry 'em home The newly launched TRX Series Cranes are packed with features and attributes such as High Lifting capacity, Faster Speed, increased Boom height of 21.5 m, which are desirable for the end customers.
February 2008, Equipment
"Our initiatives on Lean sigma transformation will
reduce the lead time in all operational activities and increase customer
loyalty/market share and achieve growth in sales," Mr. Rajesh Sharma says
in an exclusive interview with
January 2008, New Building Material and Construction
World.Vol.13, Issue 7
Construction World
-NICMAR Annual Awards 2007.
Mr. Rajesh Sharma, AVP Sales and Marketing ECEL receives the award for the second fastest Growing construction equipment Company. November 2007, Construction World.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.44.33 |
|
|
1 |
Rs.74.13 |
|
Euro |
1 |
Rs.65.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
|
|
|
>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 |
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 |
|
|
- |
NB |
New Business |
- |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.