MIRA
INFORM REPORT
|
Report Date : |
21.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
THYSSENKRUPP INDUSTRIES INDIA PRIVATE LIMITED (w.e.f. 1993) |
|
|
|
|
Formerly Known
As : |
KRUPP INDUSTRIES
INDIA LIMITED |
|
|
|
|
Registered
Office : |
154C, Mittal
Tower, 15th Floor, 210, Nariman Point, Mumbai – 400 021, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as on) : |
30.09.2010 |
|
|
|
|
Date of Incorporation : |
23.01.1947 |
|
|
|
|
Com. Reg. No.: |
11-5508 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.97.865 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74999MH1947PTC005508 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNET03957C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACK1947K |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturers of Sugar Mill Machinery and Cement Machinery. |
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|
|
|
No. of Employees : |
100+ (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 14000000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is an
established company having fine track. Financial position of the company
appears to be sound. Trade relations are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Prabhu |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-27425461 |
LOCATIONS
|
Registered Office : |
154C, Mittal
Tower, 15th Floor, 210, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-27425461 /
2 / 3 / 4 / 22020064 / 22026837 |
|
Fax No.: |
91-22-22044025 |
|
E-Mail : |
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|
Website : |
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|
Area : |
4500 sq.ft (approximately) |
|
Location : |
Owned |
|
|
|
|
Head Office / Factory 1: |
Pimpri,
Pune-411018, |
|
Tel. No.: |
91-20-27425461 /
2 / 3 / 4 |
|
Fax No.: |
91-20-27425350 |
|
E Mail : |
|
|
|
|
|
Factory 2 : |
Cherlapally,
Hyderabad-500051, |
|
Tel. No.: |
91-40-27263540 |
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Fax No.: |
91-40-27263162 |
|
E-Mail : |
DIRECTORS
As on 22.03.2011
|
Name : |
Mr. Damania
Nadirshaw Dara |
|
Designation : |
Director |
|
Address : |
11, |
|
Date of Birth/Age : |
02.12.1936 |
|
Date of Appointment : |
01.01.1978 |
|
Election Commission Identity Card No: |
MT/42/250/486422 |
|
DIN No. : |
00403834 |
|
|
|
|
Name : |
Mr. Premal
Narendra Kapadia |
|
Designation : |
Director |
|
Address : |
Flat No. 6,
Haveli, 19, L D Ruparel Marg, Mumbai-400006, |
|
Date of Birth/Age : |
05.06.1949 |
|
Date of Appointment : |
17.09.1999 |
|
Election Commission Identity Card No: |
MT/04/024/096081 |
|
DIN No. : |
00042090 |
|
|
|
|
Name : |
Mr. Vinod
Jamnadas Mehta |
|
Designation : |
Director |
|
Address : |
20A Thakur Nivas,
Co-Operative Housing Society, 173, |
|
Date of Birth/Age : |
11.04.1932 |
|
Date of Appointment : |
20.02.1990 |
|
Election Commission Identity Card No: |
MT/04/024/102891 |
|
DIN No. : |
00087505 |
|
|
|
|
Name : |
Mrs. Pallavi
Arvind Parikh |
|
Designation : |
Director |
|
Address : |
333, |
|
Date of Birth/Age : |
19.12.1943 |
|
Date of Appointment : |
05.02.1999 |
|
DIN No. : |
00107779 |
|
|
|
|
Name : |
Mr. Ramsis
Shehata |
|
Designation : |
Chairman |
|
Address : |
28 Strathaven
Mews SW, |
|
Date of Birth/Age : |
06.05.1951 |
|
Date of Appointment : |
23.05.2003 |
|
DIN No. : |
00480010 |
|
|
|
|
Name : |
Mr. Noshir
Dosabhai Kamdin |
|
Designation : |
Director |
|
Address : |
C-4, |
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Date of Birth/Age : |
06.06.1936 |
|
Date of Appointment : |
01.01.2011 |
|
Election Commission Identity Card No.
: |
MH/42/250/489403 |
|
DIN No. : |
00407835 |
|
|
|
|
Name : |
Mr. Doraiswamy
Padmanabhan |
|
Designation : |
Managing Director
|
|
Address : |
Row House, H – 2,
Shirin Gardens, Opp. ITI, Baner Road, Aundh, Pune-411007, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1946 |
|
Date of Appointment : |
01.06.2004 |
|
DIN No. : |
00407935 |
|
|
|
|
Name : |
Mr. Vijaykumar
Bhanwarlal Kanthed |
|
Designation : |
Whole Time
Director |
|
Address : |
Flat No. 1,
Ramkunj, ICS Colony, |
|
Date of Birth/Age : |
18.09.1946 |
|
Date of Appointment : |
09.03.2001 |
|
DIN No. : |
01144690 |
|
|
|
|
Name : |
Mr. Malaykumar
Mahendrachandra Das |
|
Designation : |
Whole Time
Director |
|
Address : |
Plot No. 14,
Sector – A, Vrundavan Co-operative Housing Society Limited, Off |
|
Date of Birth/Age : |
04.12.1950 |
|
Date of Appointment : |
09.03.2001 |
|
DIN No. : |
00408084 |
|
|
|
|
Name : |
Mr. Detlev Walter
Rose |
|
Designation : |
Director |
|
Address : |
Saarlandstrasse 6
Olelde, GermanyD-59302 |
|
Date of Birth/Age : |
23.05.1962 |
|
Date of Appointment : |
13.11.2007 |
|
DIN No. : |
01928197 |
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|
|
|
Name : |
Mr. Vikram
Mahendra Swarup |
|
Designation : |
Director |
|
Address : |
2 B, |
|
Date of Birth/Age : |
16.09.1948 |
|
Date of Appointment : |
19.12.2008 |
|
DIN No. : |
00163543 |
|
|
|
|
Name : |
Dr. Michael H
Thiemann |
|
Designation : |
Alternate
Director to Mr. Detlev Rose |
|
Address : |
Flat 409/410,
Samudra Mahal Premises CHS Limited, |
|
Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
13.11.2007 |
|
DIN No. : |
00061988 |
KEY EXECUTIVES
|
Name : |
Mr. Khushroo Jal Dastoor |
|
Designation : |
Company Secretary |
|
Address : |
A 806, |
|
Date of Birth/Age : |
09.06.1955 |
|
Date of Appointment : |
02.03.1998 |
|
Election Commission Identity Card No. : |
MT / 0042 / 0251 / 111484 |
|
PAN No. : |
AARPD5292N |
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|
|
|
Name : |
Mr. Prabhu |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.03.2011
|
Names of Shareholders |
No. of Shares |
|
Buckau Walther GmbH |
535583 |
|
Protos
Engineering Company Private Limited, |
163456 |
|
Shefali N. Kapadia |
10280 |
|
Nandkumar J Girme |
5458 |
|
Jayprakash J
Girme |
5458 |
|
Paharpur Cooling
Towers Limited, |
81532 |
|
Bright Holdings
and Trading Company Private Limited, |
67856 |
|
Mina P Parikh |
2531 |
|
Neerja A Parikh |
5951 |
|
PBC Ventures Limited, |
23650 |
|
Wist Trade Private Limited, |
5091 |
|
Harshadray Private Limited, |
20196 |
|
Mahnedra Ramanlal Gandhi |
5970 |
|
Parag M Shah |
2636 |
|
Premal Narendra Kapadia |
3427 |
As on 22.03.2011
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
54.73 |
|
Bodies corporate |
|
37.35 |
|
Directors or relatives of directors |
|
5.56 |
|
Other top fifty shareholders |
|
2.36 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Sugar Mill Machinery and Cement Machinery. |
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Products : |
|
PRODUCTION STATUS
As on 30.09.2010
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual Production |
|
Sugar mill machinery, specialised conveying equipment, cement plant machinery, dispersion and reaction machines (Supraton), mobile, semi-mobile, portable crushing and screening plants and crushers, screens and feeders, sponge iron plants, machinery and equipments |
12,000 tonnes per annum |
Available to meet licence conditions |
Parts for plants within installed capacity |
|
High speed semi-automatic, fully automatic and continuous centrifugal machines |
160 Nos. |
Available to meet licence conditions |
49 Nos. |
|
Closed system compost plant |
One or more plants upto 300 tonnes/day for Rs. 5.00 million annually within the existing capacity of sugar machinery and calciner plant. |
Available to meet licence conditions |
-- |
|
Steam tube calciner drier on maximum utilisation of plant and machinery |
Rs. 8.00 million |
-- |
-- |
|
Breweries and malteries |
Rs. 10.00 million within the existing capacity of sugar machinery and calciner plant |
Available to meet licence conditions |
-- |
|
Bagasse drying machinery and equipments |
300 tonnes per annum within the existing capacity of sugar machinery |
Available to meet licence conditions |
-- |
|
FBC Boilers (Bubbling bed type and circofluid type) from 20 TPH to 200 TPH capacities for multi-fuel firing |
2500 M.T. per annum within the existing capacity of sugar machinery |
Available to meet licence conditions |
Parts for plants within installed capacity |
|
Fruit Juices Machinery, Alcohol Machinery and Alcoholic Beverages Machinery |
4000 M.T. per annum within the existing capacity of sugar machinery |
Available to meet licence conditions |
Parts for plants within installed capacity |
GENERAL INFORMATION
|
No. of Employees : |
100+ (approximately) |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
·
Bank
of ·
Syndicate
Bank, 10, ·
Bank
of ·
Central
Bank of ·
State
Bank of Tranvacore, 1248/A, ·
Union
Bank of ·
Bank
of Baroda, Jangli Maharaj Road, Opposite Modern High School, Shivajinagar,
Pune – 411004, Maharashtra, India ·
Syndicate
Bank, 1216/A, ·
Deutsche
Bank, Hazarimal Somani Marg, ·
IDBI
Bank ·
State
Bank of Travancore ·
HSBC
Bank ·
Bank
of ·
HDFC
Bank Limited ·
Commerz
Bank ·
ABN
Amro Bank N.V. ·
State
Bank of ·
ICICI
Bank Limited |
||||||||||||||||||
|
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|
||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse
and Company Chartered
Accountants |
|
Address : |
|
|
|
|
|
Holding Company: |
Buckau Walther GmbH |
|
|
|
|
Ultimate Holding
Company: |
ThyssenKrupp AG |
|
|
|
|
Fellow
Subsidiary : |
·
ThyssenKrupp Fördertechnik GmbH ·
Polysius AG ·
ThyssenKrupp Forging Group ·
Krupp Canada Inc. ·
Polysius Shanghai ·
ThyssenKrupp Materials Logistic and Services ·
Berco Undercarriages India Private Limited ·
Rothe Erde GmbH ·
ThyssenKrupp Marine System ·
Polysius SAS ·
ThyssenKrupp Elevators India Private Limited ·
Uhde India Private Limited |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- Each |
Rs.100.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
978650 |
Equity Shares |
Rs.100/- Each |
Rs.97.865
millions |
NOTES
Of the above
equity shares 535,583 shares are held by Buckau Walther GmbH, the Holding
Company.
711,422 Equity
Shares have been allotted as fully paid Bonus Shares by way of capitalisation
of General Reserve, Securities Premium Account and Capital Redemption Reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
97.865 |
97.865 |
97.865 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3462.668 |
2873.935 |
2392.802 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3560.533 |
2971.800 |
2490.667 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
377.121 |
776.687 |
1241.129 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
377.121 |
776.687 |
1241.129 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3937.654 |
3748.487 |
3731.796 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
602.487 |
612.231 |
560.825 |
|
|
Capital work-in-progress |
70.978 |
69.200 |
40.616 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.200 |
4.200 |
7.200 |
|
|
DEFERREX TAX ASSETS |
40.113 |
7.050 |
1.696 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2782.258
|
1609.774
|
1286.158
|
|
|
Sundry Debtors |
5461.433
|
3951.081
|
4820.046
|
|
|
Cash & Bank Balances |
4372.634
|
2724.760
|
1749.818
|
|
|
Other Current Assets |
777.673
|
768.517
|
591.345
|
|
|
Loans & Advances |
2134.450
|
1228.186
|
2125.058
|
|
Total
Current Assets |
15528.448
|
10282.318
|
10572.425 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3022.808
|
2268.061
|
2577.839
|
|
|
Other Current Liabilities |
8318.767
|
3906.710
|
3745.281
|
|
|
Provisions |
962.997
|
1051.741
|
1127.846
|
|
Total
Current Liabilities |
12304.572
|
7226.512
|
7450.966 |
|
|
Net Current Assets |
3223.876
|
3055.806
|
3121.459
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3937.654 |
3748.487 |
3731.796 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10849.885 |
8080.430 |
13426.946 |
|
|
|
Other Income |
NA |
283.536 |
143.144 |
|
|
|
TOTAL |
NA |
8363.966 |
13570.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
Financial Expenses |
|
|
|
|
|
|
Deprecation |
|
|
|
|
|
|
TOTAL |
NA |
7424.602 |
12527.276 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1124.336 |
939.364 |
1042.814 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
353.012 |
309.384 |
363.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
771.324 |
629.980 |
678.853 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
123.465 |
112.170 |
87.701 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
156.584 |
127.225 |
107.652 |
|
|
|
Tax on Dividend |
26.007 |
21.622 |
18.295 |
|
|
|
Transfer to General Reserve |
575.383 |
469.838 |
528.437 |
|
|
BALANCE CARRIED
TO THE B/S |
136.815 |
123.465 |
112.170 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
927.288 |
387.956 |
1410.801 |
|
|
|
Export Services |
82.337 |
121.571 |
130.745 |
|
|
TOTAL EARNINGS |
1009.625 |
509.527 |
1541.546 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
782.591 |
226.404 |
166.457 |
|
|
|
Components |
201.192 |
309.617 |
1278.248 |
|
|
|
Stores & Spares |
15.156 |
3.279 |
5.244 |
|
|
|
Capital Goods |
3.052 |
1.081 |
69.461 |
|
|
TOTAL IMPORTS |
1001.991 |
540.381 |
1519.410
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
788.15 |
643.72 |
693.66 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2010 |
30.09.2009 |
30.09.2008 |
|
PAT / Total Income |
(%) |
NA
|
7.53
|
5.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.36
|
11.63
|
7.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.97
|
8.62
|
9.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.32
|
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.56
|
2.69
|
3.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.42
|
1.42 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF BUSINESS
ENVIRONMENT
Year 2009-10.
The Indian economy
made a strong rebound in the financial year 2009-10 as Government’s stimulus
packages took hold after facing slow down in financial year 2008-09. The real
GDP growth rate for financial year 2009-10 was 7.4% (6.7% in previous year).
The company was
able to encash the opportunity provided by growth momentum in the economy
particularly infrastructure sector along with the various measures taken by the
company to improve the productivity, reduce cost, update technology and
improved project execution which reflected in the better performance of the
company over last year.
Outlook for 2010-11.
With the rapid
growth of the economy in recent years, the need of adding capacity to overcome
infrastructural constraints has increased. Government’s policy initiatives to
attract private investment in power, roads, ports etc. have opened good avenues
for the business of the company.
In spite of
increased business opportunities it is expected that competition will
intensify. Timely execution within the estimated cost and efficient working
capital management will be of critical importance in coming years. Measures for
technology up-gradation especially in boiler and captive power plant business
will enhance the competitive edge and enable the business to move up the value
chain for expanding the market coverage and better margin.
The expanded
manufacturing and engineering facilities for boiler and cement machineries
which the company has undertaken are available to meet the increased demand.
The company is
taking adequate measures to attract and retain skilled manpower. However, human
resource management would continue to be a challenge in the year 2010-11 and
years to come.
The company shall
continue to focus on in-house manufacturing, deeper market penetration,
effective project management and cost efficient operations which will be the
major success factors. With such measures, accompanied by good business
prospects and strong order on hand position as on 1.10.2010, the year 2010-11
will be a milestone year for the company.
Turnover (sales
and other income) and Profit
Turnover for the
year 2009-10 stands at Rs.10849.885 million (previous year Rs.8080.430 million)
recording the growth of 34.27% over previous year. Profit before tax and before
exceptional item Rs.1083.884 million (previous year Rs.805.498 million) and
profit before tax and after exceptional item Rs.1124.336 million (previous year
Rs.939.364 million) and post tax profit at Rs.771.324 million (previous year
Rs.629.980 million) recording a growth of 34.56%, 19.69% and 22.42%
respectively.
Operations and
Prospects
Orders worth
Rs.21135 million were booked during the year as against Rs.10589 million during
the previous year giving growth of 100% over previous year. Orders on hand as
on 1.10.2010 were Rs.27481 million as against Rs.17772 million as on 1.10.2009.
Divisional
Performance
Material Handling
Division
The tempo of
Economic Growth is expected to increase in the financial year 2010- 11 and is
expected to achieve the growth rate between 8% - 9% which will provide
significant business opportunities in power, ports, steel and mining sector
where huge investment is expected to remove the infrastructural bottlenecks.
Thermal Power
Sector Continues to be the main growth driver for MHE Business. The Eleventh
Five Year Plan envisaged capacity addition of 78,700 MW of which 75.8 per cent
will be thermal power. Additional 12000 MW power will be added through Captive
Power Plants.
Other Important
sectors for MHE opening up are Ports, Mining and Steel. Company has established
contacts with various potential customers who will be establishing facilities
in next 2 – 3 years time frame and there are good chances of penetrating this
business.
The company has
received a very prestigious order from Coastal Energen Private Limited,
Tuticorin, valuing Rs.2504.500 million for Coal Handling System for 2 X 600 MW
Thermal Power Plant during the year 2009-10.
Further during the
month of October 2010 the company has received an important order from Jindal
Power Limited, for coal handling plant inside the power plant for 4 X 600 MW at
O.P. Jindal Super Thermal Power Project at Tamnar, Raigarh, Chhatisgarh, at a
price of Rs.1800 million on turnkey basis and also order from GMR Kamalanga
Energy Limited, Bhubaneshwar, Orissa for Wagon Tippler system for 4 X 350 MW,
Kamalanga TPP for Rs.412.200 million.
The following
important projects are under execution in various stages:-
·
Coastal Gujarat Power Limited for Internal Coal
Handling Package for the 5 x 800 MW Mundra Ultra Mega Power Project during the
year.
·
Damodar Valley Corporation for the Coal Handling
Plant package for 2 x 500 MW
·
Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited
for the Coal Handling Plant package for 2 x 250 MW Harduaganj Thermal Power
Station.
·
NTPC, Simhadri – Wagon Tippler and associated
equipments.
Boiler and Power
Plant Division
Persistent power
shortage is the major cause of concerns for policy makers and industry. There was
a shortage of 10.1% in terms of total energy requirement and 13.3% in terms of
peak demand requirement in the year 2009-10. There are also issues regarding
availability of quality power supplied by the grid which is of prime importance
for process industry. Hence there are good prospects for investment in captive
power plants in private sector. This provides a very good business opportunity
for this segment of the business of the company.
It is specifically
to be mentioned that the company has been receiving repeat orders from HINDALCO
Industries Limited. In this chain, during the year 2009-10 the company has
received fourth order for supply of 2 X 165 TPH CFBC Boilers for their Unit 5
at Hirakud at a price of Rs.787.277 million. It will be a unique achievement to
have 11 CFBC Boilers of identical capacity at one location. This is on account
of “customer satisfaction” achieved by timely completion of projects and
adopting highest quality standards.
Highlights of
other important orders are as under:-
|
Name of customer |
Order Value Rs. Million |
Work content |
|
Anrak Aluminium
Limited |
1476 |
1 X 315 TPH CFBC
Boiler under BTG package in addition to two Boilers as mentioned last year. |
|
Bajaj
Infrastucture |
3450 |
6 X 190 TPH CFBC
Boiler. |
|
Bhushan Energy
Limited |
807 |
1 X 275 TPH CFBC
Boiler. |
|
Action Ispat and
Power Private Limited |
752 |
1 X 185 TPH CFBC
Boiler. |
|
Star Cement, Meghalaya |
540 |
2 X 90 TPH CFBC
Boiler. |
Execution of the boiler
projects are progressing well. The highlights are as under:-
·
Monnet Ispat and Energy Limited for 1 No. 336 TPH
Steam Boiler at Naharpalia, Raigarh, Chhatisgarh.
·
Bhushan Steel Limited – 3 Nos. 275 TPH Steam
Boilers with auxiliaries for power plant at Meramandali, Angal, Orissa.
·
Facor Power Limited – 3 X 155 TPH Boiler with
auxiliaries.
·
Bhushan Power and Steel Limited – 1 X 390 TPH
Boiler
·
Gupta Energy - 2 X 250 TPH Boilers.
Polysius Cement
Machinery Division
Huge
infrastructure spending planned by Government of India during 11th Five Year
Plan and strong demand of housing in both urban and rural areas will augur well
for the demand for cement in
Highlights of the
orders received during the year:-
|
Name of customer |
Order Value Rs. Million |
Work content |
|
Wonder |
880.639 |
6500 TPD Cement
Plant. |
|
Goldstone |
370.00 |
1700 TPD Cement
Plant. |
|
Vicat |
438.300 |
Raw material and clinker grinding units. |
|
Meghna Group, |
USD 12.025 million |
3000 TPD Clinker
Grinding unit. |
Following are the
projects under execution:-
·
Various Projects with Jaiprakash Associates Limited
·
Ambuja Cement (Holcim) at Bhatapara and Rauri.
·
India Cement Group, Visaka Line 2.
·
Vasavdatta Cement, Sedam - Line 4
·
Sugar Machinery
Division
This scenario of
sugar industry is projecting optimistic outlook for sugar plant and machinery
suppliers in forth coming years as sugar mills will undertake new plants and
will also be expanding their capacity with modernization and co-generation in
view of good monsoon and higher coverage for sugar cane crop. However, there are large number of machinery
suppliers which will provide stiff competition in terms of price and delivery.
The company is preparing to meet such competition by re-looking the design and
further developments.
Highlights of the
important orders received during the year:-
|
Name of customer |
Order Value Rs. Million |
Description of
order |
|
Sukari
Industries Ltd., West |
586.500 |
1500 TCD Sugar Plant
expandable to 2500 TCD |
|
Lokmangal Sugar Ethanol and Cogeneration Industries Limited, Bhandarkavathe, |
320.000 |
Expansion of
Sugar plant from 2500 TCD To 6000 TCD |
|
Tamil Nadu |
185.000 |
Supply, erection
and commissioning of Milling Plant (36” x 78”) suitable for 3600 TCD sugar
plant |
|
Tamil Nadu |
23.500 |
Supply, erection
and commissioning of 5 Nos. Batch Type Centrifugal Machines KB 1500. |
|
Shri Chatrapati Shahu Sahakari Sakhar Karkhana Limited, Kagal. |
192.500 |
Supply, erection and commissioning of 60 TPH, 67 Kg/cm2 Co-generation Boiler. |
Execution of the
projects, particularly from Kisanveer Satara Sahakari Sakhar Karkhana Limited for
supply of 1 No. 120 TPH Travelling Grate Boiler for their sugar plant at
Bhuinj, is progressing well.
Bankers Charges Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80012972 |
|
Corporate
identity number of the company |
U74999MH1947PTC005508 |
|
Name of the
company |
THYSSENKRUPP
INDUSTRIES INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
154C, Mittal Tower,
15th Floor, 210, Nariman Point, Mumbai-400021, |
|
Type of charge |
Book Debts Others Stocks and Other
movables |
|
Particular of
charge holder |
Bank of Email ID: boipimpri@vsnl.net |
|
Nature of
description of the instrument creating or modifying the charge |
Second
supplemental joint deed of hypothecation ; Second
supplemental working capital consortium agreement |
|
Date of
instrument Creating the charge |
17.01.2008 |
|
Amount secured by
the charge |
Rs.11000.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction letters
issued by the banks in the consortium. Terms of
Repayment Fund and non fund
based limits as per sanction letters issued by the banks in the consortium. Margin As per sanction
letters issued by the banks in the consortium Extent and
Operation of the charge To the extent of
fund and non fund based sanctioned limits of the banks in the consortium |
|
Short particulars
of the property charged |
Stock and other
moveable located at various sites of the Company i.e. Pimpri, Pune and
Hyderabad etc. |
|
Date of latest
modification prior to the present modification |
29.09.2006 |
|
Particulars of
the present modification |
Admission of HSBC
Limited, a Banking Corporation, incorporated in Hongkong and having its Branch
Office at Amar Avinash Corporate City, Sector 11, Bund Garden Road, Pune 411
001 to the existing Consortium. Enhancing Credit
facilities to the Borrower by revising Fund based
facilities from Rs.500 million to Rs.1000 million Non Fund based
facilities from Rs.3500 million to Rs.10000 million |
FIXED ASSETS
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery and
Equipments
·
Furniture, Fixture
and Office Appliances
·
Vehicles
Intangible Assets
·
Computer Software
·
Technical Know-how
AS PER WEBSITE DETAILS:
Overview
Subject in the last
five decades has grown to become one of the most trusted names in the fields of
Sugar Plants and Machinery, Open Cast Mining and Bulk Material Handling
Systems, Cement Plants and Machinery and Industrial Boilers and Power plants.
Today with strong foundations and access to world-class technology subject’s
plant making capabilities are helping the industry become competitive world
over.
Subject’s strategic
vision as an EPC Contractor to execute turnkey projects is derived from its
core strength of integrated engineering expertise and automation in
manufacturing backed by an excellent team of project executives.
The company firmly
believes in delivering total customer satisfaction spanning from concept to
commissioning to after sales service.
Subject’s highly
competent project management capabilities are a result of its tradition of
anticipating and fulfilling specific customer requirements. A highly qualified
team of engineers and technicians, supported by the most modern IT
infrastructure ensures the brand of quality that subject is known for
worldwide. The emergence of a true market leader speaks volumes about the
world-class technology inherent in the company's products. The company's
nationwide branch network along with the support of subject's global
establishments enable it to meet the needs of customers on time.
Milestones
|
2007-2008 |
Golden Jubilee of subject Expansion in Pimpri and |
|
2006 |
Two orders each for 50 MW Power Plant –
EPC – AdityaBirla Group |
|
2004 |
Cement plant export order: Gulf Cement Ras
Al Khaimah and Al Salam, |
|
1994 |
Machinery and equipment for edible oil
plant |
|
1990 |
Licence Agreement with Deutsche Babcock
for CFBC Boliers upto 200 TPH |
|
1988 |
Establishment of second manufacturing
facility at |
|
1986 |
Machinery and equipment for sponge iron
plant |
|
1981 |
First order from Coromandel Cement in
collaboration with Polysius AG |
|
1978 |
Development of In-house technology for
boilers up to 60 TPH |
|
1976 |
Bagged first order open cast mining
spreader – Neyveli Lignite Corp. |
|
1975 |
First major export order for complete
sugar plant refinery to |
|
1974 |
Machinery and equipment for Compost plant
for house refuse |
|
1970 |
Machinery and equipment for Brewery |
|
1968 |
Machinery and equipment for Calciner plant |
|
1962 |
Machinery and equipment for complete sugar
plant |
|
1957 |
Construction of workshop building,
installation of machinery |
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.44.46 |
|
|
1 |
Rs.71.67 |
|
Euro |
1 |
Rs.62.94 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
64 |
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.