%20PRIVATE%20LIMITED%20-%20128704%2008-Jan-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
08.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
PEPPERL AND FUCHS ( |
|
|
|
|
Registered
Office : |
Plot No.10, 3rd Main, 1st Stage, Peenya
Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.09.2000 |
|
|
|
|
Com. Reg. No.: |
08-027777 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999KA2000PTC027777 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electronic Switches and Equipment. |
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 432000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established 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 normal for 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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Mr. Arvind |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-80-28378030 |
|
Date : |
07.01.2011 |
LOCATIONS
|
Registered Office : |
Plot No.10, 3rd Main, 1st Stage, Peenya
Industrial Estate, |
|
Tel. No.: |
91-80-28378030 /
5660 |
|
Fax No.: |
91-80-28378031 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Thampy Mathew |
|
Designation : |
Director |
|
Address : |
63, 5th Main, NGEF Layout, Nagarbhavi, |
|
Date of Birth/Age : |
28.05.1958 |
|
Date of Appointment : |
19.03.1998 |
|
DIN or
Income-tax PAN : |
02022865 |
|
|
|
|
Name : |
Mr. Ravi Agarwal |
|
Designation : |
Director |
|
Address : |
C-503, True Friends
CGHS Limited, Plot No 29, Sector-6, Dwarka, New |
|
Date of Birth/Age : |
26.10.1969 |
|
Date of Appointment : |
29.09.2007 |
|
DIN or
Income-tax PAN : |
02298328 |
|
|
|
|
Name : |
Mr. Matthias Gunkel |
|
Designation : |
Director |
|
Address : |
288A, |
|
Date of Appointment : |
15.11.2005 |
|
|
|
|
Name : |
Dr. Gunther Kegel |
|
Designation : |
Director |
|
Address : |
Mozartstrasse 19, 67549 |
|
Date of Appointment : |
15.11.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Arvind |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pepperl + Fuchs GmbH, |
|
1499999 |
|
Pepperl+ Fuchs Pte Limited, |
|
1 |
|
Total
|
|
1500000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electronic Switches and Equipment. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
|
|
Bankers : |
Not Available |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company (G Srinivas) Chartered Accountants |
|
Address : |
|
|
Tel. No.: |
91-80-22274551/ 22274552 |
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Fax No.: |
91-80-22212437 |
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E-Mail : |
|
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Income-tax
PAN of auditor or auditor's firm : |
AAAFB9147R |
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|
|
|
Holding Company : |
Pepperl + Fuchs
GmbH Address: D-68307, Koenigsberger, Allee 87, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
millions |
|
|
|
|
|
(Held by Pepperl+Fuchs GmbH, the holding company and its nominee)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.000 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
93.011 |
70.778 |
108.102 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
108.011 |
85.778 |
123.102 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.007 |
|
|
|
|
|
|
|
|
TOTAL |
108.011 |
85.778 |
123.109 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.439 |
19.880 |
16.231 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
12.936 |
25.217 |
5.061 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.995
|
40.320 |
43.461 |
|
|
Sundry Debtors |
259.741
|
253.737 |
208.538 |
|
|
Cash & Bank Balances |
32.270
|
35.517 |
54.484 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
80.640
|
60.426 |
47.957 |
|
Total
Current Assets |
424.646
|
390.000 |
354.440 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
264.211 |
284.953 |
196.505 |
|
|
Other Current Liabilities |
4.729
|
7.239 |
4.066 |
|
|
Provisions |
74.070
|
57.127 |
52.052 |
|
Total
Current Liabilities |
343.010
|
349.319 |
252.623 |
|
|
Net Current Assets |
81.636
|
40.681 |
101.817 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
108.011 |
85.778 |
123.109 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
776.749 |
569.749 |
547.132 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
776.749 |
569.749 |
547.132 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
735.456 |
624.656 |
528.800 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
735.456 |
624.656 |
528.800 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
41.293 |
(54.907) |
18.332 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
19.060 |
(17.583) |
5.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
22.233 |
(37.324) |
13.294 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
30.114 |
67.438 |
54.144 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
52.347 |
30.114 |
67.438 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
14.82 |
NA |
NA |
|
%20PRIVATE%20LIMITED%20-%20128704%2008-Jan-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20128704%2008-Jan-2011_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.86
|
(6.55) |
2.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.43
|
(13.40) |
0.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38
|
(0.64) |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.18
|
4.07 |
2.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.12 |
1.40 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Dues to Micro
and Small Enterprises |
-- |
-- |
-- |
|
- Dues to Other
than Micro and Small Enterprises |
264.211 |
284.953 |
196.505 |
BUSINESS OPERATIONS OVERVIEW AND OUTLOOK
The Company depicted
considerable stability in its performance during the year that can be
attributed to focused operations excellence, quality, innovation and working
closely with the customers to provide product solutions that meet their
specific requirements. The enhanced sales of the Company’s products conforming
to international standards are a clear affirmation of the Company’s channel
initiatives implemented in all focal areas of operation to create an efficient
and robust system of operation. The Directors are confident of further
improving the performance of the Company by implementation of conservative
operating plans for the year ahead with continued focus on cost management to
meet the challenges posed by the competitive business environment.
FIXED ASSETS:
· Improvement to Leasehold Premises
· Plant and Machinery
· Computers
· Furniture and Fixtures
· Office Equipments
· Vehicles
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.45.37 |
|
|
1 |
Rs.70.04 |
|
Euro |
1 |
Rs.58.93 |
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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.