MIRA
INFORM REPORT
|
Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
SULZER INDIA LIMITED |
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Registered Office : |
Gate No. 304, at Kondhapuri, Taluka Shirpur, Kondhapuri, Dist Pune,
Pune-412209 |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
11.04.1988 |
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Com. Reg. No.: |
11-046977 |
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CIN No.: [Company
Identification No.] |
L2929PN1988PLC046977 |
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|
Legal Form : |
A Closely held Public Limited Liability Company. The company shares
are listed on stock exchange. |
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Line of Business : |
Manufacture of engineering products. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (61) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 3200000 |
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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 subsidiary of Sulzer Limited, The company can be considered good 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 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Kedar Kulkarni |
|
Designation : |
Senior Manager Account |
|
Date : |
13.01.2011 |
LOCATIONS
|
Registered Office : |
Gate No. 304, at Kondhapuri, Taluka Shirpur, Kondhapuri, Dist Pune,
Pune-412209 |
|
Tel. No.: |
91-2137-304000 |
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Fax No.: |
91-2137-304111/222 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
Sulzer House, |
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Factory : |
Village Kondhapuri, |
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Regional Offices 1: |
Chennai, |
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Regional Offices 2: |
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Tel. No.: |
91-0265-2342194 |
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Fax No.: |
91-2265-2342394 |
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E-Mail : |
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Regional Offices 3: |
1015-1019, |
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Tel. No.: |
91-11-26294771/2 |
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Fax No.: |
91-1126294226 |
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E-Mail : |
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Regional Offices 4: |
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|
Tel. No.: |
91-44-24992436/24987415 |
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Fax No.: |
91-44-24992394 |
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E-Mail : |
DIRECTORS
As On : 19.06.2010
|
Name : |
Urs. Frankhauser |
|
Designation : |
Chairman |
|
Address : |
Huzien Strasse, 52, 6604, Volketswil, Swizarland |
|
Date of Birth/Age : |
24.01.1960 |
|
Date of Appointment : |
01.01.2002 |
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Name : |
Keki M. Elavia |
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Designation : |
Chairman |
|
DIN No : |
000003940 |
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|
Name : |
Mr. Subodh S. Nadkarni |
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Designation : |
Director |
|
Address : |
32, Mangirees, 520, |
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Date of Birth/Age : |
02.04.1956 |
|
Date of Appointment : |
26.12.1999 |
|
DIN No : |
00145999 |
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Name : |
Mr. Prakash Kulkarni |
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Designation : |
Director |
|
Address : |
G-703, Rohan Garima, Near, Shivaji CHS, Shivaji Nagar, Pune-411016, |
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Date of Birth/Age : |
09.06.1947 |
|
Date of Appointment : |
26.06.2009 |
|
DIN No : |
00019652 |
KEY EXECUTIVES
|
Name : |
Mr. B. Balaji |
|
Designation : |
Manager |
|
Address : |
D 30, |
|
Date of Birth/Age : |
22.05.1960 |
|
Date of Appointment : |
08.04.2006 |
|
PAN No : |
ADGPB816M |
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|
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|
Name : |
Mr. Sudhir Kadam |
|
Designation : |
Company secretary |
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Address : |
S. N. 60, Nanai Baug, Off B. T. Kawade Road, Mundhawa, Pune-411036,
Maharashtra, India |
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Date of Birth/Age : |
24.12.1973 |
|
Date of Appointment : |
26.07.2008 |
|
PAN No : |
APPPK8636L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2010
|
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] |
|
80.06 |
|
Bodies corporate |
|
6.98 |
|
Directors or relatives of directors |
|
0.03 |
|
Other top fifty shareholders |
|
9.59 |
|
Others |
|
3.34 |
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|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of engineering products. |
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Products : |
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Terms : |
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Selling : |
Cash, Credit (30 days / 60days / 90days) |
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Purchasing : |
Cash, Credit (30 days / 60days / 90days) |
PRODUCTION STATUS
As On 31.12.2009
|
Particulars |
Unit |
|
Licensed
Capacity |
Actual
Production |
|
Separation Columns and Packing for Distillation, Absorption and
Desorption |
M3 |
|
1000 |
5530.82 |
|
Mixing Process Equipment |
No. |
|
300 |
34 |
Notes
(a) The above particulars
are as certified by the Management.
© The Licensed
Capacities are as per the Letter/ Acknowledgements received from the Ministry
of Industry, Department of Industrial Development, Secretariat for Industrial
Approvals,
(b) Installed
Capacities cannot be quantified in view of common manufacturing facilities for
the Company’s wide product mix. The Company has made an application in 1989 to
the Government of India, Department of Company Affairs, Company Law Board,
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
v
State Bank of v
Citibank N.A v
BNP Paribas |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse and Company Chartered Accountant |
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Address : |
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Subsidiaries : |
CIN No : U29290MH1994PTCO76900 (formerly SAB Technical Services (I) Private Limited) w.e.f. July 31,
2009 |
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Fellow Subsidiaries : |
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Holding Company : |
Sulzer Limited, |
CAPITAL STRUCTURE
As On 31.12.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3450000 |
Equity Shares [Including 2759992 Equity Shares held by
Sulzer Limited, |
Rs. 10/- each |
Rs. 34.500
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.12.2010 |
|
Sales Turnover (Approximately) |
|
|
2000.000 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
34.500 |
34.500 |
34.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
781.058 |
546.429 |
417.588 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
815.558 |
580.929 |
452.088 |
|
|
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 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
815.558 |
580.929 |
452.088 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
155.613 |
190.945 |
179.057 |
|
|
Capital work-in-progress |
149.409 |
1.382 |
5.370 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
27.913 |
41.130 |
33.406 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
224.955
|
351.625
|
338.186 |
|
|
Sundry Debtors |
197.343
|
197.298
|
129.793 |
|
|
Cash & Bank Balances |
345.886
|
545.459
|
225.088 |
|
|
Other Current Assets |
2.233
|
5.423
|
5.355 |
|
|
Loans & Advances |
44.947
|
75.061
|
100.672 |
|
Total
Current Assets |
815.364
|
1174.866
|
799.094 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
168.965
|
226.228
|
192.364 |
|
|
Current Liabilities |
79.954
|
299.021
|
151.050 |
|
|
Provisions |
213.648
|
302.145
|
221.425 |
|
Total
Current Liabilities |
462.567
|
827.394
|
564.839 |
|
|
Net Current Assets |
352.797
|
347.472
|
234.255 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
815.558 |
580.929 |
452.088 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1368.612 |
1838.165 |
1203.843 |
|
|
|
Service Charges |
120.718 |
135.443 |
44.065 |
|
|
|
Commission |
1.146 |
0.797 |
0.047 |
|
|
|
Other Income |
155.687 |
96.291 |
79.056 |
|
|
|
TOTAL (A) |
1646.146 |
2070.696 |
1327.011 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
737.302 |
1129.205 |
685.587 |
|
|
|
Manufacturing Expenses |
265.390 |
326.155 |
258.688 |
|
|
|
Employees Remuneration |
131.423 |
126.255 |
72.608 |
|
|
|
TOTAL (B) |
1134.115 |
1581.615 |
1016.883 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
512.031 |
489.081 |
310.128 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.913 |
11.191 |
11.293 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
502.118 |
477.890 |
298.835 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.689 |
54.173 |
51.947 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
452.429 |
423.717 |
246.888 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
157.454 |
153.606 |
92.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
294.975 |
270.111 |
154.758 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
270.083 |
168.253 |
69.334 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
29.498 |
27.011 |
15.476 |
|
|
|
Dividend |
0.000 |
34.500 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
5.863 |
0.000 |
|
|
|
Proposed Final Dividend |
51.750 |
86.250 |
34.500 |
|
|
|
Provision for Tax on Proposed Final
Dividend |
8.596 |
14.658 |
5.863 |
|
|
BALANCE CARRIED
TO THE B/S |
475.214 |
270.082 |
168.253 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
777.990 |
906.959 |
478.564 |
|
|
|
Commission Earnings |
1.149 |
0.797 |
0.047 |
|
|
|
Other Earnings |
5.993 |
25.361 |
12.751 |
|
|
|
Replenishment of Managerial Remuneration |
0.000 |
0.000 |
11.154 |
|
|
TOTAL EARNINGS |
785.132 |
933.117 |
502.516 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
78.595 |
591.254 |
366.274 |
|
|
|
Stores & Spares |
47.455 |
35.661 |
58.244 |
|
|
|
Capital Goods |
26.029 |
37.181 |
44.189 |
|
|
TOTAL IMPORTS |
152.079 |
664.096 |
468.707 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
85.50 |
78.29 |
44.86 |
|
Expected Sales (2010-2011) : Rs.2500.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
PAT / Total Income |
(%) |
17.92
|
13.04
|
11.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
33.06
|
23.05
|
20.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
45.29
|
31.02
|
25.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
055
|
0.73
|
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
1.42
|
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
1.42
|
1.41 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
In Millions)
|
PARTICULARS |
31.12.2009 |
31.12.2008 |
31.12.2007 |
|
Total outstanding dues of creditors other than micro and small
enterprises |
168.965 |
226.228 |
192.364 |
|
Total |
168.965 |
226.228 |
192.364 |
OPERATIONS:
The overall adverse business climate affected the company and the total
income of the Company registered a decline of 23%.
Several major projects were cancelled or delayed leading to decreased
demand in both domestic and international markets. This significantly affected
the capacity utilization in the year.
Lower material prices and foreign exchange gain due to weaker Indian
Rupee along with reversal of provision helped improve the profitability despite
falling sales volumes. Also ongoing lean initiatives of operational excellence
and systems improvements ensured efficient and reliable process.
FUTURE OUTLOOK:
The market conditions deteriorated significantly, globally and in
CHANGE IN
REGISTERED OFFICE :
With a view to being all the factions of the company under one roof,
optimally utillise the existing space and achieve the purpose of better and
efficient control of all its activities the Registered Office to the company
was shifted to existing factory location at Gate No.304, At Kondhapuri,
Taluka-Shirur, Dist-Pune, Pune-412209 with effect from December 01, 2009.
Audited Financial
Results for the year ended December 31, 2009
(Rs. In Million)
|
|
Particulars |
Nine Months ended |
Quarter ended |
Quarter ended |
Financial year ended |
Financial year ended |
Financial year ended |
|
|
|
30.09.2009 |
31.12.2009 |
31.12.2008 |
31.12.2009 |
31.12.2008 |
31.12.2009 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
Audited |
Audited |
Audited |
|
1 |
Gross sales / Income from operation |
1145.570 |
389.867 |
572.618 |
1535.437 |
2085.164 |
1601.665 |
|
|
Less: Excise Duty |
32.449 |
12.509 |
20.136 |
44.958 |
111.556 |
44.958 |
|
|
Net sales / Income from operation |
1113.121 |
377.358 |
552.482 |
1490.479 |
1973.608 |
1556.707 |
|
|
Other operation Income |
119.105 |
12.920 |
12.604 |
132.025 |
78.646 |
150.273 |
|
2 |
Expenditure
|
|
|
|
|
|
|
|
|
Increase / Decrease in stock in trade and work in
progress |
36.783 |
29.879 |
57.144 |
66.662 |
2.331 |
43.653 |
|
|
Consumption of raw material |
507.650 |
151.784 |
291.942 |
659.434 |
1099.782 |
673.112 |
|
|
Purchase of traded goods |
0.000 |
11.206 |
0.000 |
11.206 |
27.090 |
11.206 |
|
|
Employees cost |
100.651 |
30.772 |
41.571 |
131.423 |
126.255 |
194.317 |
|
|
Depreciation |
29.962 |
19.727 |
16.306 |
49.689 |
54.173 |
59.346 |
|
|
Other expenditure |
165.801 |
99.589 |
59.128 |
265.390 |
326.153 |
272.427 |
|
|
Total
Expenditure |
840.847 |
342.957 |
466.091 |
1183.804 |
1635.784 |
1254.061 |
|
3 |
Profit (+)/ Loss (–) from operation before other income,
interest and exceptional items |
391.379 |
47.321 |
98.995 |
438.700 |
416.470 |
452.919 |
|
4 |
Other income |
19.912 |
3.730 |
4.774 |
23.642 |
18.441 |
24.081 |
|
5 |
Profit (+)/ Loss (-) before interest and exceptional items
|
411.291 |
51.051 |
103.769 |
462.342 |
434.911 |
477.000 |
|
6 |
Interest and finance charges |
7.826 |
2.087 |
2.448 |
9.913 |
11.192 |
11.861 |
|
7 |
Profit (+)/ Loss (-) after interest but before exceptional
items |
403.465 |
48.964 |
101.321 |
452.429 |
423.719 |
465.139 |
|
8 |
Exceptional items |
- |
- |
- |
- |
- |
- |
|
9 |
Profit (+) / Loss (-) from ordinary activities before tax |
403.465 |
48.964 |
101.321 |
452.429 |
423.719 |
465.139 |
|
10 |
Tax expenses |
138.813 |
18.641 |
35.421 |
157.454 |
153.606 |
164.481 |
|
11 |
Net Profit (+) / Loss (-) from ordinary activities after
tax |
264.652 |
30.323 |
65.900 |
294.975 |
270.113 |
300.658 |
|
12 |
Extraordinary items
(net of tax expense Rs. Nil) |
- |
- |
- |
- |
- |
- |
|
13 |
Net profit (+) / Loss (-)
for the period |
264.652 |
30.323 |
65.900 |
294.975 |
270.113 |
300.658 |
|
14 |
Minority Interest |
- |
- |
- |
- |
- |
1.097 |
|
15 |
Net profit (+) / Loss (-) for the period after minority
interest |
- |
- |
- |
- |
- |
299.561 |
|
16 |
Paid up equity share capital (face value of Rs. 10 per
share) |
345.00 |
345.00 |
345.00 |
345.00 |
345.00 |
345.00 |
|
17 |
Reserves excluding revaluation
reserve |
- |
- |
- |
781.060 |
546.428 |
785.646 |
|
18 |
Earning per share |
|
|
|
|
|
|
|
a |
Basic and diluted EPS before extraordinary items for the
period, for the year date and for the previous year |
76.71 |
8.79 |
19.10 |
85.50 |
78.29 |
86.83 |
|
b |
Basic and diluted
EPS after extraordinary items for the period, for the year to date and for
the previous year (Rs.) |
76.71 |
8.79 |
19.10 |
85.50 |
78.29 |
86.83 |
|
19 |
Public shareholding
|
|
|
|
|
|
|
|
a |
Number of shares |
688908 |
688908 |
686402 |
688908 |
686402 |
688908 |
|
B |
Percentage of shareholding |
19.97 |
19.97 |
19.90 |
19.97 |
19.90 |
19.97 |
|
20 |
Promoters and promoter group shareholding |
|
|
|
|
|
|
|
a |
Pledge/
Encumbered |
|
|
|
|
|
|
|
|
Number of shares |
- |
- |
- |
- |
- |
- |
|
|
Percentage of shares (as a % of the total shareholding of promoter and promoter
group ) |
- |
- |
- |
- |
- |
- |
|
|
Percentage of shares (as a % of the total share capital of
the company ) |
- |
- |
- |
- |
- |
- |
|
b |
Non
encumbered |
|
|
|
|
|
|
|
|
Number of shares |
2761092 |
2761092 |
2763598 |
2761092 |
2763598 |
2761092 |
|
|
Percentage of shares (as a % of the total shareholding of promoter and promoter
group ) |
100 |
100 |
100 |
100 |
100 |
100 |
|
|
Percentage of shares (as a % of the total share capital of
the company ) |
80.03 |
80.03 |
80.10 |
80.03 |
80.10 |
80.03 |
Consolidated
segments wise revenue, results and capital employed
|
Sr. No. |
Particular |
As On 31.12.2009
Amount (Rs. In Millions) |
|
1 |
Segment Revenue |
|
|
|
Product Related |
1419.082 |
|
|
Service Related |
194.786 |
|
|
Revenue From
Operation |
1613.868 |
|
2 |
Segment Results |
|
|
|
Profit / Loss before interest and tax |
- |
|
|
Product Related |
398.861 |
|
|
Service Related |
54.748 |
|
|
Total |
453.609 |
|
3 |
Capital Employed
|
|
|
|
Segments assets
– segments Liabilities |
|
|
|
Product Related |
482.387 |
|
|
Service Related |
66.213 |
|
|
Total |
548.600 |
Note:
1)
The above results have been reviewed by the audit committee
and were approved by the board of directors in meeting on March 11, 2010
2)
There are no reportable primary segments for stand
alone results as pr reporting segments criteria under accounting standard 17,
for the purpose of consolidated results two reportable segments have been
identified i.e. product related and service related.
3)
The board of directors of the company in its
meeting held on March, 11, 2010 have recommended a dividend of 150% i.e. Rs.
15/- per equity share for the financial year ended December 31, 2009 (previous
year 305%) for the approval of the members of the company.
4)
Pursuant to the shares purchase agreement dated
June 25, 2009, with the shareholders of SAB Technical Services (I) Private
Limited (SAB), the company has acquired 91% of the equity shares of SAB with effect from July 31, 2009 for a
consideration or Rs. 0.129 Millions.
5)
During the quarter ended June 30, 2009 the company
had reached an out of court settlements in respect of a contractual agreement
which was pending since 1997. The company made a payments of Rs. 6.100 million
on June 29, 2009 in full and final settlement against the claim of Rs. 52.600
millions “ Other Operating Income” for nine months ended September 30, 2009 and
financial year ended December 31, 2009 includes a write back of provision of
Rs. 45.374 millions in respect of disputed legal matters.
6)
The company receive 1 investor complaint during the
quarter and there were no investor complaints pending a on December 31, 2009
Fixed Assets:
- Land
- Building
- Plant and
Machinery
- Data
Processing Equipments
- Research and
Development Equipments
- Furniture and
Fittings
- Office and
Other Equipments
- Vehicles
WEB SIDE DETAILS
PROFILE
Subject is known as a Technology Corporation, all over the world.
Subject is guided by the same philosophy while delivering solutions from
conceptualizing to designing, installation and commissioning to customer
support service. Organization is certified for ISO:9001:2008, ISO 14001:2004
and OHSAS 18000:2007 by Bureau Verities.
The Making of Sulzer
In 1988, Sulzer Corporation,
The necessity to deliver quality products and on-line services are the means to
stay ahead of competition. At Sulzer
In their workforce, this
reinforces each effort to fulfill commitments. Be it the manufacture of a
product, offering quality after-sales services or conceptualizing a turnkey
solution.
Sulzer
Situated in Kondhapuri near Pune on the Pune Ahmednagar Highway.(150 km from Mumbai) Built up area - 10000 sq. mtrs, over 12 hectares of land. This Modern Plant houses some of the latest machine tools and testing facilities run by a highly motivated and multi-skilled workforce. The facility is fully geared up to manufacture sheet metal parts and stainless steel fabrication to international standards for delivery to Global markets.
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 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.45.13 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
61 |
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.