MIRA
INFORM REPORT
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Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
UHDE INDIA Private LIMITED |
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Formerly Known As : |
UHDE INIDA LIMITED |
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Registered Office : |
Uhde House, LBS Marg, Vikhroli (West), Mumbai - 400 083, |
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Country : |
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Financials (as on) : |
30.09.2009 |
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Date of Incorporation : |
23.12.1977 |
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Com. Reg. No.: |
11-20041 |
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CIN No.: [Company
Identification No.] |
U74200MH1977PTC020041 |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Subject is engaged in as Engineering and Consultancy
Chemical and Industrial Plant Construction |
RATING & COMMENTS
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MIRA’s Rating : |
A (61) |
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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 |
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Maximum Credit Limit : |
USD 3400000 |
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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 an established company having fine track. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitments. The company can be considered normal for business dealings at usual
trade terms and Conditions.
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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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINEDBY
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Name : |
Mr. Nariman |
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Designation : |
HR Manager |
LOCATIONS
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Registered Office : |
Uhde House, LBS Marg, Vikhroli (West), Mumbai - 400 083, |
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Tel. No.: |
91-22-25968000 / 25968551 / 267968581 / 67968000 |
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Fax No.: |
91-22-25784327 / 25780210 |
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E-Mail : |
uhdein@vsnl.com |
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Website : |
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Area : |
7 Staryed Building (Owned) |
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Head Office : |
Uhde House, LBS Marg, Vikhroli (West), Mumbai - 400 083, |
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Tel. No.: |
91-22-25968000/25968551 |
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Fax No.: |
91-22-25784327 |
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E-Mail : |
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Corporate Office : |
Uhde House, LBS Marg, Vikhroli (West), Mumbai - 400 083, |
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Tel. No.: |
91-22-25968000/25968551 |
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Fax No.: |
91-22-25784327 |
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E-Mail : |
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Branch Office : |
3rd Floor, Duggal Plaza, 692, A/3C, Prem Nagar, Bibulwadi Road, Pune, Maharashtra, India |
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Tel. No.: |
91-20-66081100 |
DIRECTORS
As on 19.02.2010
|
Name : |
Dr. Michael Johannes Thieman |
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Designation : |
Chairman cum Managing Director |
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Address : |
Flat No. 409/410, Samudra Mahal Premises CHS Limited, Dr. A B Road, Worli , Mumbai – 400 018, Maharashtra, India |
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Date of Birth/Age : |
25.08.1946 |
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Date of Appointment : |
20.06.2009 |
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DIN No. : |
00061988 |
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Name : |
Mr. Benno Hans Lueke |
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Designation : |
Managing Director |
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Address : |
Karl Halle strasse 94 |
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Date of Birth/Age : |
13.02.1952 |
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Date of Appointment : |
01.10.2009 |
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DIN No. : |
02634507 |
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Name : |
Dr. Iddya Dayasagar |
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Designation : |
Whole Time Director |
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Address : |
B 401, Daffodil, |
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Date of Birth/Age : |
09.05.1949 |
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Date of Appointment : |
01.071998 |
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DIN No. : |
00020614 |
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Name : |
Mr. Suresh Narsappa Talwar |
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Designation : |
Director |
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Address : |
10 Shivshanti Bhuvan 146 MK Road, Churchgate Reclamation ,
Mumbai – 400 020, |
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Date of Birth/Age : |
21.11.1937 |
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Date of Appointment : |
05.12.2004 |
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DIN No. : |
00001456 |
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Name : |
Mr. Rajendra Ambalal Shah |
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Designation : |
Director |
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Address : |
Panorama 2nd Floor, |
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Date of Birth/Age : |
07.07.1931 |
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Date of Appointment : |
25.06.2004 |
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DIN No. : |
00009851 |
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Name : |
Mr. Vijayan Thekke Kunnanath |
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Designation : |
Whole Time Director |
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Address : |
B 406, |
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Date of Birth/Age : |
10.06.1950 |
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Date of Appointment : |
01.07.1998 |
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DIN No. : |
00020591 |
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Name : |
Mr. Raghavan Sethuraman |
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Designation : |
Whole Time Director |
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Address : |
10/25, Saraswat Colony, Santacruz (West), Mumbai – 400
054, |
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Date of Birth/Age : |
19.03.1950 |
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Date of Appointment : |
01.07.2003 |
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DIN No. : |
00020632 |
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Name : |
Mr. Jayant Ranchhoddas Shah |
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Designation : |
Director |
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Address : |
20 CCI Chambers, |
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Date of Birth/Age : |
16.02.1925 |
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Date of Appointment : |
23.12.1977 |
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DIN No. : |
00020723 |
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Name : |
Mr. Bansidhar S Mehta |
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Designation : |
Director |
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Address: |
37, Maheshwari Mansions, 34, |
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Date of Birth/ Age: |
19.09.1935 |
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Date of Appointment: |
24.02.2006 |
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Date of Cessation : |
19.06.2009 |
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DIN No. : |
00035019 |
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Name : |
Mr. Kunjjukuttan Trivikraman Thampi |
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Designation : |
Director |
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Address : |
F20, 501, Green Crest Yamuna Nagar, Andheri (W), Mumbai –
400053, |
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Date of Birth/Age : |
15.08.1927 |
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Date of Appointment : |
01.01.1978 |
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DIN No. : |
00043445 |
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Name : |
Mr. Prakash Dinkar Sumudra |
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Designation : |
Whole Time Director |
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Address : |
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Date of Birth/Age : |
05.07.1951 |
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Date of Appointment : |
01.07.1998 |
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DIN No. : |
00062355 |
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Name : |
Mr. Klaus Bernd Schneiders |
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Designation : |
Director |
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Address : |
Parkstr 15 D – 59425 |
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Date of Birth/Age : |
22.05.1941 |
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Date of Appointment : |
02.03.1998 |
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DIN No. : |
00102611 |
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Name : |
Mr. Dara Nadirshaw Damania |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
02.12.1936 |
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Date of Appointment : |
07.06.1996 |
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DIN No. : |
00403834 |
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Name : |
Mr. Jorg Schonewolf |
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Designation : |
Director |
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Address : |
Lautenhausen Dorf Strasse 21, Friedewald, Germany-57520 |
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Date of Birth/Age : |
18.01.1962 |
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Date of Appointment : |
01.05.2004 |
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DIN No. : |
00440853 |
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Name : |
Mr. Siddharth S Rudra |
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Designation : |
Whole time Director |
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Address: |
Flat 101/102, Emerald Nirmal Lifesestyle, |
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Date of Birth/ Age: |
11.05.1949 |
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Date of Appointment: |
01.10.2006 |
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DIN No. : |
00771904 |
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Name : |
Mr. Alfred Hoffmann |
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Designation : |
Director |
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Date of Appointment: |
25.01.2006 |
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Date of Cessation : |
19.06.2009 |
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DIN No. : |
00404535 |
KEY EXECUTIVES
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Name : |
Mr. Gurpur Radhakrishna Prabhu |
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Designation : |
Company Secretary |
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Address : |
401/6 Ajangiri, Siddachal Apartment, Phase II, 2nd
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Date of Birth/Age : |
03.08.1960 |
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Date of Appointment : |
08.03.2002 |
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Pan No. : |
AADPP0040N |
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Name : |
Mr. Inesh Kathari |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.02.2010
|
Names of Shareholders |
|
No. of Shares |
|
UHDE GMBH |
|
2368000 |
|
Kingfisher F Invest Industries Limited – |
|
256000 |
|
Anila Shah |
|
62500 |
|
Jayant Shah |
|
76800 |
|
Urmila Jayant Shah |
|
76800 |
|
Ranjit Jayant Shah |
|
76800 |
|
Mona Shah |
|
25600 |
|
Shefali Rajendra Shah |
|
1500 |
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Total
|
2944000 |
As on 19.02.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
80.43 |
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Bodies corporate |
8.69 |
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Directors or relatives of Directors |
10.88 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in as Engineering and Consultancy
Chemical and Industrial Plant Construction |
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Products : |
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GENERAL INFORMATION
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Customers : |
·
Abu Qir Fertilizer Company, ·
Asean Bintulu Fertilizer Company, ·
Albaryroni (Al-Jubail Fertilisers Company), ·
ACE ·
BASF AG, ·
Bunge ·
·
GAP INSAAT, ·
Qatar Fertilizer Company (QAFCO), ·
Coromandel International, ·
Gujarat Narmada Valley Fertilizer Company, ·
Ruwais Fertiliser Industries (FERTIL), ·
Fortum Oil and Gas |
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Bankers : |
·
Deutsche Bank, Nariman Point, Mumbai, ·
Union Bank of ·
State Bank of · Punjab National Bank |
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Facilities : |
-- |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, |
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Pan No. : |
AAEFP5579P |
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Holding Company: |
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Ultimate Holding Company : |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2944000 |
Equity Shares |
Rs. 10/-
each |
Rs.29.440
millions |
|
|
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Notes:
1. 2944000 fully paid equity Shares of Rs.10/-
each include:
- 110890 Shares allotted for consideration other than cash
- 2806000 shares allotted bonus shares by capitalization of general
reserve.
2. of the above, 2368000 equity shares are
held by Uhde Gmbh
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2009 |
30.09.2008 |
30.09.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.440 |
29.440 |
29.440 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
839.462 |
719.743 |
606.783 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
868.902 |
749.183 |
636.223 |
|
|
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 |
|
|
|
|
|
|
|
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TOTAL |
868.902 |
749.183 |
636.223 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
285.490 |
320.565 |
319.260 |
|
|
Capital work-in-progress |
456.315 |
173.760 |
8.078 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
127.366 |
110.809 |
29.798 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.128
|
292.684
|
25.716
|
|
|
Sundry Debtors |
604.217
|
656.223
|
410.510
|
|
|
Cash & Bank Balances |
1974.665
|
1641.793
|
952.856
|
|
|
Other Current Assets |
54.053
|
149.729
|
71.361
|
|
|
Loans & Advances |
1605.439
|
1276.380
|
712.284
|
|
Total
Current Assets |
4249.502
|
4016.809
|
2172.727
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
903.930
|
808.822
|
669.513
|
|
|
Other Current Liabilities |
2333.727
|
2268.898
|
701.503
|
|
|
Provisions |
1012.114
|
795.040
|
522.624
|
|
Total
Current Liabilities |
4249.771
|
3872.760
|
1893.640
|
|
|
Net Current Assets |
(0.269)
|
144.049
|
279.087
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
868.902 |
749.183 |
636.223 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2009 |
30.09.2008 |
30.09.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
3261.744 |
3449.416 |
2911.412 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
2902.092 |
3069.306 |
2743.582 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
359.652 |
380.110 |
167.830 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
136.603 |
134.090 |
64.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
223.049 |
246.020 |
102.880 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
66.300 |
56.390 |
65.170 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
120.000 |
150.000 |
60.000 |
|
|
|
Dividend |
88.30 |
73.600 |
44.160 |
|
|
|
Tax on Dividend |
15.010 |
12.510 |
7.500 |
|
|
BALANCE CARRIED
TO THE B/S |
66.020 |
66.300 |
56.390 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
944.024 |
986.263 |
646.765 |
|
|
TOTAL EARNINGS |
944.024 |
986.263 |
646.765 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
377.025 |
817.706 |
977.227 |
|
|
|
Capital Goods |
20.131 |
27.671 |
22.468 |
|
|
TOTAL IMPORTS |
397.156 |
845.377 |
999.695 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
75.76 |
83.57 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2009 |
30.09.2008 |
30.09.2007 |
|
PAT / Total Income |
(%) |
6.84
|
7.13
|
3.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.93
|
8.76
|
6.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.51
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.19
|
5.17
|
2.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.04
|
1.14 |
LOCAL AGENCY FURTHER INFORMATION
Performance:
The year witnessed an order intake of Rs.3326.500 millions as compared to
Rs.6327.180 million in the previous year. The turnover of the company stood at Rs.3018.96 million. The recessionary
tendencies within the Country and in the global markets affected the Order intake and the turnover of
the Company. This also resulted in a Marginal fall of the Profits of the Company- The Profits After Tax (PAT) was
Rs.223.050 millions as against previous
year 246.020 millions. However, in the current competitive environment this performance is indeed remarkable and
the credit for this achievement goes to its employees.
The major contracts received during the year include Engineering and Supply of
proprietary equipment for Caustic Soda Plants of Jayshree Chemicals and Andhra Sugars, EPCM services for units in Paradeep
Refinery of IOCL and Cuddalore
Refinery of Nagajuna Oil Engineering Services for Urea Synthesis plant in
Fixed Assets:
Tangible:
- Residential
Flats
- Air
conttioner
- Computer
- Office
Equipments
- Computers
- Vehicles
Intangible:
- Computer
Software
WEBSITE DETAILS:
Company Profile:
From a construction office in 1965, to a Branch office of
parent company UHDE GmbH,
In keeping with the desire to be known as the best EPC company with:-
· Value added technical expertise
· Innovative engineering solutions
· Quality-certified systems and standards
· Safety and environmental considerations
· Client-conscious approach
· Commitment to cost and time schedules
UHDE GmbH belongs to the ThyssenKrupp Technologies Group,
A premier Indian EPC Contractor, they operate as a project-driven
company for EPCM Services in
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.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.