MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
NETZSCH TECHNOLOGIES INDIA PRIVATE LIMITED |
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Registered
Office : |
No.39, 2nd Street, Spartan Nagar, Mogappair, Chennai – 600
037, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.03.2005 |
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Com. Reg. No.: |
18-55666 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.299
millions |
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|
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CIN No.: [Company Identification
No.] |
U29120TN2005PTC055666 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEN05425A |
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PAN No.: [Permanent Account No.] |
AACCN0727E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer, Exporter and Supplier of products like Block
Construction Pumps, Barrel Emptying Pumps, Dosing Pumps, Vertical Pumps,
Hygienic Pumps, Asceptic Pumps. |
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|
|
|
No. of Employees
: |
55 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 410000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Rachna |
|
Designation : |
Office Executive |
|
Date : |
22.06.2011 |
LOCATIONS
|
Registered Office : |
No.39, 2nd Street, Spartan Nagar, Mogappair, Chennai – 600 037, Tamil
Nadu, India |
|
Tel. No.: |
91-44-42965100/ 11/ 42965163 |
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Fax No.: |
91-44-42965150/ 15/ 42965153 |
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E-Mail : |
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Website : |
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Location: |
Owned |
|
|
|
|
Factory : |
L -10, Verna Industrial Estate, Verna, Salcette, Goa – 403722,
Maharashtra, India |
|
Tel. No.: |
91-832-6627800 |
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Fax No.: |
91-832-6627801 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Thomas Karl Erich Netzsch |
|
Designation : |
Director |
|
Address : |
Alte Hofer Strabe 1, |
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Date of Birth/Age : |
25.07.1946 |
|
Date of Appointment : |
12.05.2005 |
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Date of Ceasing : |
12.01.2010 |
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DIN No : |
00975457 |
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|
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|
Name : |
Mr. Vivek Norman |
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Designation : |
Managing Director |
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Address : |
Old No.15, New No.16, |
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Date of Birth/Age : |
28.09.1972 |
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Date of Appointment : |
12.05.2005 |
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DIN No : |
00136848 |
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Email : |
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Name : |
Ms. Felix Maria Kleinert |
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Designation : |
Director |
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Address : |
Sachaching 3, Kraiburg A. Inn, |
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Date of Birth/Age : |
27.04.1958 |
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Date of Appointment : |
12.05.2005 |
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DIN No : |
02032578 |
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Name : |
Mr. Michael Robby |
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Designation : |
Director |
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Address : |
Building No.18, Unit 2803A, |
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Date of Birth/Age : |
17.04.1959 |
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Date of Appointment : |
30.06.2007 |
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Date of Ceasing : |
26.05.2009 |
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|
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Name : |
Mr. Otto Maximilian Patrick Schaefer |
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Designation : |
Director |
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Address : |
Zur Hohen Warte, 18, Selb Silberbach-95100 |
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Date of Birth/Age : |
11.02.1969 |
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Date of Appointment : |
24.07.2010 |
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DIN No : |
03086007 |
KEY EXECUTIVES
|
Name : |
Ms. Rachna |
|
Designation : |
Office Executive |
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|
Name : |
Mr. Anton Benjamin |
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Designation : |
General Manager |
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Email : |
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Name : |
Mr. G. Padmanabhan |
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Designation : |
National sales Manager |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
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|
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|
|
RPV |
|
129879 |
|
Netzsch Asia Pacific Pte Limited, Singapore |
|
1 |
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Total |
|
129880 |
AS ON 30.09.2010
|
Equity Share Breakup
|
|
Percentage of
Holding |
|
Category |
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|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of products like Block
Construction Pumps, Barrel Emptying Pumps, Dosing Pumps, Vertical Pumps,
Hygienic Pumps, Asceptic Pumps. |
|
|
|
|
Products : |
·
Nemo Progressive Cavity Pump ·
Block Construction Pumps ·
Dosing Pumps ·
Industrial Pumps ·
Screw Feeds ·
Vertical Pumps ·
Barrel Emptying Pumps ·
Hygienic Pumps ·
Asceptic Pumps ·
Nemo Lonsta ·
Metzsch Tornado Rotary Lobe Pumps, etc. |
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Terms : |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
Industries |
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No. of Employees : |
55 (Approximately) |
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Bankers : |
· Hong Kong and Shanghai Banking Corporation Mogappair Branch, Chennai, Tamilnadu, India · HSBC Bank, Mogappair Branch |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Bansal and Company Chartered Accountants |
|
Address : |
A-6, Maharani Bagh, |
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Tel. No.: |
91-11-41626470-71 |
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Fax No.: |
91-11-41328425 |
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E-Mail : |
CAPITAL STRUCTURE
AS ON: 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1400000 |
Equity Shares |
Rs.10/- each |
Rs.14.000 millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
129880 |
Equity Shares |
Rs.10/- each |
Rs.1.299
millions |
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|
|
|
|
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 |
1.299 |
1.299 |
0.301 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
101.441 |
89.291 |
22.847 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
102.740 |
90.590 |
23.148 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.159 |
0.513 |
0.831 |
|
|
2] Unsecured Loans |
150.049 |
60.000 |
0.000 |
|
|
TOTAL BORROWING |
150.208 |
60.513 |
0.831 |
|
|
DEFERRED TAX LIABILITIES |
0.843 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
253.791 |
151.103 |
23.979 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
139.125 |
91.644 |
3.518 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.128 |
0.057 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.629
|
34.556
|
16.549 |
|
|
Sundry Debtors |
24.387
|
27.555
|
20.187 |
|
|
Cash & Bank Balances |
74.481
|
21.680
|
1.865 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
12.539
|
5.303
|
7.734 |
|
Total
Current Assets |
135.036
|
89.094 |
46.335 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.009
|
16.349 |
14.958 |
|
|
Other Current Liabilities |
9.106
|
11.860
|
5.065 |
|
|
Provisions |
5.255
|
1.554
|
5.908 |
|
Total
Current Liabilities |
20.370
|
29.763 |
25.931 |
|
|
Net Current Assets |
114.666
|
59.331
|
20.404 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
253.791 |
151.103 |
23.979 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
87.418 |
86.375 |
NA |
|
|
|
Other Income |
11.490 |
7.435 |
NA |
|
|
|
TOTAL |
98.908 |
93.810 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
39.234 |
61.129 |
NA |
|
|
|
Manufacturing and Other Expenses |
31.112 |
40.827 |
NA |
|
|
|
Increase/(Decrease) in Finished Goods |
6.477 |
(13.310) |
NA |
|
|
|
TOTAL |
76.823 |
88.646 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
22.085 |
5.164 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.709 |
0.840 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
18.376 |
4.324 |
16.591 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.227 |
1.708 |
6.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12.149 |
2.616 |
10.552 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
15.590 |
12.974 |
2.422 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
27.739 |
15.590 |
12.974 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Re-imbursement of Expenses |
12.016 |
10.637 |
6.705 |
|
|
|
Commission Earnings |
5.446 |
4.736 |
6.394 |
|
|
TOTAL EARNINGS |
17.462 |
15.373 |
13.099 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Numo Pumps and Spares |
22.829 |
44.692 |
37.038 |
|
|
TOTAL IMPORTS |
22.829 |
44.692 |
37.038 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
93.54 |
20.14 |
350.02 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
90.000 |
The above information has been parted by Ms. Rachna.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
12.28
|
2.79 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
21.02
|
5.01 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.70
|
2.39
|
33.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.05
|
0.72 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.67
|
1.00
|
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.63
|
2.99
|
1.79 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office of the
company has been shifted from No.7D, 7th Floor, EGA Trade Centre, 318,
Poonamallee High Kilpauk, Chennai – 600 010, Tamilnadu to the present
address w.e.f. 01.03.2009.
FIXED ASSETS:
·
Temporary Construction
·
Computers
·
Office Equipments
·
Cars
·
Furniture and Fixtures
·
Plant and Machinery
·
UPS and Accessories
·
Air Conditioner
·
Electrical Fittings and Equipments
·
Tools and Equipments
·
WIP
WEBSITE DETAILS:
MANUFACTURING:
Introduction
Subject commenced in the year 2005 with an assembly plant at Chennai and it has
now moved as a full fledged manufacturing unit to Verna Industrial Estate,
Facilities in the work premises
Subject has excellent working facilities to assemble and test the NEMO
Progressive cavity Pumps. All parts
are imported from its Parent and Sisters companies viz, Netzsch Mohnopumen GmbH
They also stock spares and basic pumps necessary for service of all customers
in the subcontinent. elastomers which are critical are all stored in de
humidified rooms to give the best shelf life.
For Service
They have a team of trained and committed personnel for commissioning and
effective after sales support.
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.45.10 |
|
|
1 |
Rs.71.88 |
|
Euro |
1 |
Rs.63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.