MIRA
INFORM REPORT
|
Report Date : |
16.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
JOSTS ENGINEERING COMPANY LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
09.05.1907 |
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Com. Reg. No.: |
11-00252 |
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Capital Investment/
Paid-up Capital: |
Rs. 7.646
Millions |
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CIN No.: [Company
Identification No.] |
L28100MH1907PLC000252 |
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Legal Form : |
Public Limited Liability Company. The Company’s Share are Listed in
Stock Exchange. |
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Line of Business : |
Manufacturing and Selling of Material Handling Equipments, Industrial Finishing, Machine Tools, etc. Importing and Exporting of Industrial Engineering
Products. |
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No. of Employees: |
About 400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 270000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and an established company having satisfactory 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. |
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 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-22-22661150 / 22661166 |
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Fax No.: |
91-22-22661951 |
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E-Mail : |
infomhe@josts.in (Material Handling) bullowsthance@josts.in (Industrial Finishing) info@josts.in (Engineered Products) |
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Website : |
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Branch Office 1: |
Plot Number 3, Survey Number 126, |
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Tel. No.: |
91-20-25434390/25434350 |
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Fax No.: |
91-20- 25434393 |
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E-Mail : |
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Website : |
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Branch Office 2: |
C-7 Wagle Industrial Estate, Road No. 12, Thane-400604, |
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Tel. No.: |
91-22-25821727/ 25821746/ 25821748/ 25822083 |
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Fax No.: |
91-22-25823478 |
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E-Mail : |
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IFD: |
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Branch Office 3: |
304, 3rd Floor, 5, |
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Tel. No.: |
91-11-45676000 |
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Fax No.: |
91-11-28750819 |
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E-Mail : |
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Branch Office 4: |
C39, |
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Tel. No.: |
91-44-26268536/ 26288407 |
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Fax No.: |
91-44-26211708 |
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E-Mail : |
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Branch Office 5: |
103, Maruti Apartments, 31, |
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Tel. No.: |
91-265-2351642 |
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E-Mail : |
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Branch Office 6: |
19, |
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Tel. No.: |
91-33-22429510 |
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Fax No.: |
91-33-22480861 |
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E-Mail : |
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Branch Office 7: |
Krishna Vilas, |
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Tel. No.: |
91-80-22263707/ 22263708 |
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Fax No.: |
91-80-22259871 |
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E-Mail : |
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Branch Office 8: |
Plot No. 9-1-9/1, Flat No. -101, Sri Raghava Beside Sangeet Theatre,
Sarojini Devi Road, Secunderabad-500003, Andhra Pradesh, India |
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Tel. No.: |
91-40-27714934 |
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Fax No.: |
91-40-27712655 |
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E-Mail : |
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Factory 1 : |
C-7, Wagle Industrial Estate, Road No. 12, Thane - 400
604, |
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Tel. No.: |
91-22-25821727/25821746/25821748/25822083 |
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Fax No.: |
91-22-25823478 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Burjor Hormusji Reporter |
|
Designation : |
Director |
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Address: |
24-C, Bal Gangadhar Kher Marg, Mumbai-400006, |
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Date of Birth/ Age: |
13.02.1924 |
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Date of Appointment : |
27.08.1953 |
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DIN No.: |
00282711 |
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Name : |
Mr. Shailesh Rajnikant Sheth |
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Designation : |
Director |
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Address: |
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Date of Birth/Age: |
29.121.1946 |
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Date of Appointment: |
27.11.1997 |
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DIN No.: |
00041713 |
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Name : |
Mr. Marco Philippus Ardeshir Wadia |
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Designation : |
Directors |
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Address: |
Thakur Niwas, 173, |
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Date of Birth/ Age: |
30.01.1956 |
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Date of Appointment: |
02.06.1998 |
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DIN No.: |
00244357 |
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Name : |
Mr. Farokh Kekhushroo Banatwalla |
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Designation : |
Director |
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Address: |
603, Neelsagar, TPSIII 28th Roadl, Bandra West,
Mumbai-400050, |
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Date of Birth/ Age: |
19.04.1949 |
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Date of Appointment: |
21.04.2009 |
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DIN No.: |
02670802 |
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Name : |
Mr. Pradeep Kumar Bhargava |
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Designation : |
Director |
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Address: |
19, |
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Date of Birth/ Age: |
25.06.1949 |
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Date of Appointment: |
30.10.2009 |
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DIN No.: |
00525234 |
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Name : |
Mr. Faizulla Abdullabhai . Jasdanwalla |
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Designation : |
Directors |
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Address: |
Rashmi Flat No. D |
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Date of Appointment : |
27.01.1959 |
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Date of Ceasing: |
22.10.2009 |
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DIN No.: |
00009219 |
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Name : |
Mr. Homit Nusserwanji Sethna |
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Designation : |
Directors |
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Address: |
Panorama 203, |
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Date of Birth/ Age: |
24.08.1923 |
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Date of Appointment: |
03.02.1986 |
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Date of Ceasing: |
20.03.2010 |
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DIN No.: |
00087546 |
KEY EXECUTIVES
|
Name : |
Mr. Chandrakant Bhalchandra Sagvekar |
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Designation : |
Company Secretary |
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Address: |
Kumar Co-Operative Housing Society, Block No. B 11, |
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Date of Birth/ Age: |
01.12.1948 |
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Date of Appointment : |
02.09.1996 |
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PAN No.: |
ACRPS4712J |
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|
|
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Name : |
Crawford Bayley and Company |
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Designation : |
Solicitors |
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Name : |
Mr. R.P. Pargaonkar |
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Designation : |
President |
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Name : |
Mr. S. Subramani |
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Designation : |
Head Material Handling |
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Name : |
Mr. D.P. Deodhar |
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Designation : |
Head Industrial Estate |
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Name : |
Mr. V M Deodar |
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Designation : |
Head Sound and Vibration |
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Name : |
Mr. S. B. Bhat |
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Designation : |
Head Environment Simulation |
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Name : |
Mrs. Neena Ramesh |
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Designation : |
Head Components |
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Name : |
Mr. A A Nag |
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Designation : |
Head Electrical |
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Name : |
Mrs. Neena Ramesh |
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Designation : |
Head Nanotech Analytical Solutions |
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Name : |
Mr. L Sharath Kumar |
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Designation : |
Head Process Control Instrumentation |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
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|
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|
185,870 |
24.31 |
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|
147,040 |
19.23 |
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|
332,910 |
43.54 |
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|
|
|
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|
36,000 |
4.71 |
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|
36,000 |
4.71 |
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Total shareholding of Promoter and Promoter Group (A) |
368,910 |
48.25 |
|
(B) Public Shareholding |
|
|
|
|
|
|
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|
595 |
0.08 |
|
|
595 |
0.08 |
|
|
|
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|
81,531 |
10.66 |
|
|
|
|
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|
195,685 |
25.59 |
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|
104,877 |
13.72 |
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|
13,052 |
1.71 |
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|
13,052 |
1.71 |
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|
395,145 |
51.68 |
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Total Public shareholding (B) |
395,740 |
51.75 |
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Total (A)+(B) |
764,650 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
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|
- |
- |
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|
- |
- |
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|
- |
- |
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Total (A)+(B)+(C) |
764,650 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Material Handling Equipments, Industrial Finishing, Machine Tools, etc. Importing and Exporting of Industrial Engineering
Products. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Material Handing Equipment |
Nos. |
Not Applicable |
The Company manufacturers various products on versatile machines and
hence the installed capacity cannot be ascertained. |
536 |
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GENERAL INFORMATION
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No. of Employees : |
About 400 (Approximately) |
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Bankers : |
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Facilities : |
Secured
Loans:
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Sorab S. Engineer and Company Chartered Accounts |
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Address: |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
764650 |
Equity Shares |
Rs.10/- each |
Rs.7.647
millions |
|
Less |
Calls unpaid (other than by directors) |
|
Rs. 0.001
million |
|
|
Total |
|
Rs. 7.646 Millions |
Of the above:
- 10000 Shares are allotted as fully paid – up pursuant to a contract
without payment being received in cash.
- 210000 Shares are allotted as fully paid up by way of Bonus Shares by
Capitalisation of Reserves.
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 |
7.646 |
7.646 |
7.646 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
60.706 |
46.365 |
40.489 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
68.352 |
54.011 |
48.135 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.071 |
3.135 |
8.955 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1.071 |
3.135 |
8.955 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
69.423 |
57.146 |
57.090 |
|
|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.961 |
14.635 |
15.373 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
13.172 |
0.414 |
0.152 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.962
|
56.379
|
50.229 |
|
|
Sundry Debtors |
164.171
|
144.789
|
126.467 |
|
|
Cash & Bank Balances |
20.170
|
20.512
|
22.540 |
|
|
Other Current Assets |
0.227
|
0.232
|
0.180 |
|
|
Loans & Advances |
27.060
|
25.102
|
17.818 |
|
Total
Current Assets |
268.590
|
247.014
|
217.234 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
122.888
|
97.018
|
90.292 |
|
|
Other Current Liabilities |
70.637
|
74.673
|
54.217 |
|
|
Provisions |
34.775
|
33.226
|
31.160 |
|
Total
Current Liabilities |
228.300
|
204.917
|
175.669 |
|
|
Net Current Assets |
40.290
|
42.097
|
41.565 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
69.423 |
57.146 |
57.090 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
516.875 |
389.274 |
326.292 |
|
|
|
Commission |
61.720 |
82.972 |
70.164 |
|
|
|
Other Income |
31.095 |
23.202 |
22.285 |
|
|
|
TOTAL |
609.690 |
495.448 |
418.741 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing, Trading and Other Expenses |
565.573 |
464.071 |
391.884 |
|
|
|
Interest on Fixed Loans |
1.151 |
0.705 |
0.839 |
|
|
|
Interest on Others |
0.158 |
0.322 |
1.932 |
|
|
|
TOTAL |
566.882 |
465.098 |
394.655 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
42.808 |
30.350 |
24.086a |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.522 |
5.981 |
6.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
37.286 |
24.369 |
17.823 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
14.000 |
11.784 |
9.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
23.286 |
12.585 |
8.003 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
28.311 |
23.710 |
21.427 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.329 |
1.275 |
0.800 |
|
|
|
Proposed Dividend |
7.646 |
5.735 |
4.205 |
|
|
|
Tax on Proposed Dividend |
1.299 |
0.974 |
0.715 |
|
|
BALANCE CARRIED
TO THE B/S |
40.323 |
28.311 |
23.710 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
0.000 |
0.380 |
|
|
|
Commission Earnings |
61.720 |
82.723 |
64.380 |
|
|
TOTAL EARNINGS |
61.720 |
82.723 |
64.760 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
4.810 |
33.097 |
58.700 |
|
|
|
Finished Goods for resale |
59.976 |
61.397 |
25.500 |
|
|
TOTAL IMPORTS |
64.786 |
94.494 |
84.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.45 |
16.46 |
10.47 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
31.03.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
157.090 |
167.300 |
169.330 |
285.400 |
|
Total Expenditure |
145.820 |
155.500 |
152.500 |
264.650 |
|
PBIDT (Excl OI) |
11.270 |
11.800 |
16.830 |
20.750 |
|
Other Income |
0.300 |
0.270 |
0.240 |
0.220 |
|
Operating Profit |
11.570 |
12.070 |
17.070 |
20.970 |
|
Interest |
0.280 |
0.500 |
0.030 |
0.590 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
11.390 |
11.570 |
17.040 |
20.380 |
|
Depreciation |
1.150 |
1.190 |
1.450 |
1.520 |
|
Profit Before Tax |
10.240 |
10.380 |
15.590 |
18.860 |
|
Tax |
3.400 |
3.450 |
5.180 |
[0.920] |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
6.840 |
6.930 |
10.410 |
19.790 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.00 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
6.840 |
6.930 |
10.410 |
19.790 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.82
|
2.54 |
1.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.21
|
6.26 |
5.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.10
|
9.31 |
7.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.45 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.36
|
3.85 |
3.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.21 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
Sales for the year were Rs. 516.900 as against Rs. 389.300 Millions in
the previous year. The Profit after tax was Rs. 23.300 Millions as against Rs.
12.600 Millions in the previous year. Generally business should continue to
progress. Barring unforeseen circumstances, there should be improved results in
the current year.
Contingent Liabilities:
|
Particulars |
31.03.2010 Rs. in Millions |
31.03.2009 Rs. in Millions |
|
Disputed Sales Tax Matters |
14.084 |
14.693 |
|
Disputed Service Tax Matters |
0.552 |
0.552 |
|
Bank Guarantee for performance contracts |
35.791 |
20.671 |
|
Other disputed matters |
0.850 |
0.850 |
|
Central excise matters |
17.098 |
0.667 |
Bankers Charges
Report as per Registry
|
Name of the company |
JOSTS ENGINEERING COMPANY LIMITED |
|
Presented By |
The South Indian Bank Limited, |
|
1) Date and description of instrument creating the change |
Memorandum of Entry for Equitable Mortgage dated 17.11.1997 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Bank Guarantee Rs. 10.000 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Equitable Mortgage on the property of the company situated at Thane and Details of the Properties: All the freehold plot of Land admeasuring 2428 sq. yds. Or thereabouts situated and lying and being Plot No. 37, Industrial Estate No.-1 in the Revenue Estate of Mevla Maharajpur, Tehail Ballbagarh, originally District Gurgaon, now district Faridbad, Haryana All that piece or parcel of land known as Plot No. C-7, in the Thana Industrial Area within the village limits of Panchkhadi, Taluka and Registration Sub-District Thana, District and Registration District Thane, Containing by and Registration District Thane, containing by admeasurements 6921 square meters i.e. 8277 sq. yds. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The Bank Guarantee Facility is secured by creation of Equitable Mortgage of Property. |
|
5) Name and Address and description of the person entitled to the charge. |
The South India Bank Limited, Emca House, Ground floor, 289, |
|
6) Date and brief description of instrument modifying the charge |
Memorandum of Entry of Equitable Mortgage dated 17th April, 2003. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
By this modification, the Bank Guarantee limit of Rs. 10.000 Millions reduced by Rs. 8.000 Millions. The Present limit stand Rs. 2.000 Millions |
|
Corporate
identity number of the company |
L28100MH1907PLC000252 |
|
Name of the
company |
JOSTS ENGINEERING COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10022862 |
|
Type of charge |
Book Debts Movable Property (not being pledge) Floating Charge |
|
Particular of
charge holder |
The Zoroastrian Co- Operative Bank Limited, Mumbai Main Branch, Yusuf
Building, Ground Floor, V.N. Road, Fort, Mumbai-400001, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation (I) Additional Limit |
|
Date of
instrument Creating the charge |
27.11.2009 |
|
Amount secured by
the charge |
Rs. 46.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest may
be stipulated by Bank from time to time Terms of
Repayment On Demand Margin As may be
stipulated by Bank form time to time Extent and
Operation of the charge Company’s Stocks,
book debts and plant and machinery particularly described in Column No. 15 as
security fort the repayment of credit facilities of Rs. 46.000 Millions
together with interest cost and all other charges. |
|
Short particulars
of the property charged |
Hypothecation of
stock and book debts Hypothecation of
Plant and Machinery |
|
Date of
instrument modifying the charge |
30.08.2007 |
|
Particulars of
the present modification |
The charge now
stands increased from Rs. 20.000 Millions to Rs. 46.000 Millions in favour of
the bank |
Fixed Assets:
- Building on
- Plant and Machinery
- Furniture, Fixtures and Equipments
- Vehicles
- Software
- Trade Marks
- Technical Know – How
WEBSITE DETAILS:
History:
Material Handling
Division:
Josts Material Handling Division is committed to provide innovative
material handing solutions for internal material handling needs of its
customers to improve the efficiency of their processes.
Saving labor, time, space and material is the result of effective
material handling. Josts pioneered the concept of internal material handling in
industries in
Four decades of experience, a fully equipped ISO - 9001:2008 Certified
plant at Thane, near Mumbai and an all
Josts offers you customized "all-round solutions" for
stacking, transporting, warehousing. With a comprehensive range of material
handling products and consulting covering the entire field of intra-logistics.
This includes planning and implementation of complete logistic systems.
And this all comes with a broad spectrum of services which offer an economical
solution for every kind of need.
"For more than 25 years Josts has been representing M/S
Jungheinrich Exports AG and
Industrial
Finishing Division:
Jost's is an ideal “One Stop Shop” for total finishing needs of product
from the last activity of manufacturing to first activity of packing viz. from
surface treatment, product handling, paint application equipments selection,
turn key paint shops, efficient heat and combustion solution, paint sludge
management system, paint removal system, safety equipments and painting
automation, complying environmental safety norms.
Josts represents world leaders in Industrial finishing solution provider
Such as ITW Industrial Finishing Systems ( Binks, Devillbiss, Ransburg ),
Keppel Seghers, Maxon Corporation, Datapaq Systems, Schiltknecht Messtechnik
and Auto flame
Engineering
Productions Division
Josts' Engineered Products Division (EPD), in association with some of
the leading manufacturers of the world, provides advanced engineering solutions
for some very demanding industrial applications. These solutions blend the
legacy of innovation and global leadership of the principals with the
expertise, know-how and reach in the Indian market.
They provide complete technical and commercial support in sales,
commissioning and service, as well as the designing and development of software
essential for the operation of the products that they offer in this area. To
ensure complete achievement of specific customer’s objectives, the EPD team
works closely with both, principals and customers, right from pre-sales to
commissioning and services.
Company
Philosophy:
"They are committed to providing advanced engineering solutions
that add value to industrial processes. They would always have respect for fair
and ethical business practices. They would build trust of the customers,
stakeholders and employees by virtue of the integrity. It is the objective to
be fair, time bound and result oriented in all the activities"
A large pool of qualified engineering experts ensures availability of resources
to provide required solutions to the customers. Adding value to a range of
diversified and advanced engineering products and services catering to the
needs of varied industries. They have strived to set high standards of quality
and services since the very beginning. They have created a niche for themselves
by providing world-class products to the Indian industry.
Profile:
Subject has been partnering growth over a range of business verticals
across
At Subject, they believe that they are in
business for the sole purpose of providing solutions that help customers
improve their processes and/ or performance of their products. Which is why,
all activities at Subject are aligned to this core purpose.
It was with this in mind that Carl Jost, the founder of the company,
flagged off operations more than a century ago with the manufacture of kerosene
operated fans. More than the business success, it is their rich experience
garnered over 100+ years that is the key differentiator in their operations
today. It is this experience that has enabled them to acquire deep knowledge of
critical processes and thorough understanding of customer needs. It also allows
them to spot market trends early and develop and propose technology based
solutions and services for specific needs. And, reinforcing their objective of
providing the best in performance, reliability and efficiency to their
customers, are their tie ups with several global technology leaders. The
rationale is simple and all-encompassing: deliver solutions that are not only
present perfect, but also future ready. Powering their success stories always
are dedicated teams of qualified professionals - all committed to delivering
the highest standards of product quality and services to their stakeholders.
Not only do they ensure consistent performance of their products for years, but
they also back it up with sustained sales, spares and service support
nationwide. All reasons that make customers put their faith in them repeatedly.
Today, no horizon is beyond their reach. They are committed to leveraging
leading global technology to raise customer performance to the next level.
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.44.52 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.62.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.