BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
KOMET PRECISION TOOLS INDIA PRIVATE LIMITED |
Principal Name 1 |
MR. MATTHIAS STEPHAN HEINZ |
|
Status |
GOOD |
Principal Name 2 |
MR. SESHAGIRI RAO RAVISHANKAR |
|
|
|
Registration # |
08-28331 |
|
Street Address |
16J, ATTIBELE INDUSTRIAL AREA, |
||
|
Established Date |
21.12.2000 |
SIC Code |
-- |
|
Telephone# |
91-80-28078000/ 27834821 |
Business Style 1 |
MANUFACTURING |
|
Fax # |
91-80-28078100 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
PRECISION CUTTING TOOLS |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.563,960/- |
Product Name 3 |
-- |
|
Shareholders |
FOREIGN HOLDINGS-100% |
Banking |
NA |
|
Public Limited Corp. |
NO |
Business Period |
10 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
A (56) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
HOLDING
COMPANY |
|
KOMET GROUP GMBH |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
111,214,000
|
Current Liabilities |
95,310,000
|
|
Inventories |
54,470,000
|
Long-term Liabilities |
96,896,000 |
|
Fixed Assets |
162,377,000 |
Other Liabilities |
4,638,000
|
|
Deferred Assets |
4,966,000 |
Total Liabilities |
196,844,000 |
|
Invest& other Assets |
9,201,000 |
Retained Earnings |
144,820,000 |
|
|
|
Net Worth |
145,384,000 |
|
Total Assets |
342,228,000 |
Total Liab. & Equity |
342,228,000 |
|
Total Assets (Previous Year) |
256,931,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
239,001,000 |
Net Profit |
12,041,000 |
|
Sales(Previous yr) |
270,246,000 |
Net Profit(Prev.yr) |
16,101,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.02.2011 |
Note:
The correct name of the company is Komet Precision Tools India Private
Limited.
IDENTIFICATION DETAILS
|
Name : |
KOMET PRECISION TOOLS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
16J, Attibele Industrial Area, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
21.12.2000 |
|
|
|
|
Com. Reg. No.: |
08-28331 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29199KA2000PTC028331 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK03496D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing of Precision Cutting Tools. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (56) |
|
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 582000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
16J, Attibele Industrial Area, |
|
Tel. No.: |
91-80-28078000 / 27834821 |
|
Fax No.: |
91-80-28078100 / 27834495 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office : |
Located At :
|
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Matthias Stephan Heinz |
|
Designation : |
Director |
|
Address : |
74360 Ilsfeld, Veilchenweg 14, |
|
Date of Birth/Age : |
26.10.1967 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
02090371 |
|
|
|
|
Name : |
Mr. Seshagiri Rao Ravishankar |
|
Designation : |
Managing Director |
|
Address : |
309, 1st Cross, Bahrathi HSG STY, |
|
Date of Birth/Age : |
20.05.1961 |
|
Date of Appointment : |
21.12.2000 |
|
DIN No.: |
00861742 |
|
|
|
|
Name : |
Mr. Hariharda Bhisharvartimatt Murugesh |
|
Designation : |
Director |
|
Address : |
1121, 8th A Main, BTM 1st Stage, |
|
Date of Birth/Age : |
22.03.1954 |
|
Date of Appointment : |
06.05.2003 |
|
DIN No.: |
00861716 |
|
|
|
|
Name : |
Mr. Karl Peter Honger |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
15.10.1944 |
|
Date of Cessation : |
01.09.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Komet Group |
|
56395 |
|
Komet Precision Tools Shareholder Company |
|
1 |
|
Total |
|
56396 |
As on 25.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Precision Cutting Tools. |
|
|
|
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity * |
Installed
Capacity ** |
Actual
Production |
|
Reaming Tools |
Nos. |
-- |
67000 |
10222 |
|
Boring Bars |
Nos. |
-- |
3000 |
1075 |
|
|
|
|
|
|
Notes:
* The company is exempt from the licensing provisions
of the Industries (Development and Regulation) Act, 1951.
** Installed capacity is as certified by
management and relied upon by auditors, this being a technical matter.
GENERAL INFORMATION
|
Bankers : |
Not Available |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B.S.R. and Company Chartered Accountants |
|
Address : |
Maruthi Infotech Centre, 11-12/1, |
|
Tel. No.: |
91-80-39806000 |
|
Fax No.: |
91-80-39806999 |
|
|
|
|
Holding/ Ultimate Company : |
KOMET Group GmbH, |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
56396 |
Equity Share |
Rs.10/- each |
Rs.0.564
Million |
|
|
|
|
|
[Of the above shares, 56395 equity shares of Rs.10/- each held by KOMET
Group GmbH, Germany (formerly Komet Group Holding GmbH, Germany), the holding
company]
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 |
0.564 |
0.564 |
0.564 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
144.820 |
132.779 |
116.678 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
145.384 |
133.343 |
117.242 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
96.896 |
40.740 |
37.820 |
|
|
TOTAL BORROWING |
96.896 |
40.740 |
37.820 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
242.280 |
174.083 |
155.062 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
162.377 |
84.606 |
70.187 |
|
|
Capital work-in-progress |
9.201 |
36.189 |
0.783 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
4.966 |
6.826 |
4.530 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.470
|
25.800
|
24.048 |
|
|
Sundry Debtors |
76.360
|
79.066
|
69.309 |
|
|
Cash & Bank Balances |
25.416
|
9.746
|
40.922 |
|
|
Other Current Assets |
0.126
|
0.194
|
1.605 |
|
|
Loans & Advances |
9.312
|
14.504
|
9.606 |
|
Total
Current Assets |
165.684
|
129.310
|
145.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
71.275
|
70.712 |
52.120 |
|
|
Other Current Liabilities |
24.035
|
9.264
|
10.863 |
|
|
Provisions |
4.638
|
2.872
|
2.945 |
|
Total
Current Liabilities |
99.948
|
82.848
|
65.928 |
|
|
Net Current Assets |
65.736
|
46.462
|
79.562 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
242.280 |
174.083 |
155.062 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
239.001 |
270.246 |
291.666 |
|
|
|
Other Income |
16.460 |
8.765 |
0.916 |
|
|
|
TOTAL |
255.461 |
279.011 |
292.582 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
235.354 |
254.672 |
251.485 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
235.354 |
254.672 |
251.485 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
20.107 |
24.339 |
41.097 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.066 |
8.238 |
13.088 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
12.041 |
16.101 |
28.009 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
132.779 |
116.678 |
88.669 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
144.820 |
132.779 |
116.678 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
4.050 |
1.150 |
21.599 |
|
|
TOTAL EARNINGS |
4.050 |
1.150 |
21.599 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and as such inputs |
123.798 |
136.804 |
141.722 |
|
|
|
Capital Goods |
8.809 |
16.879 |
0.000 |
|
|
TOTAL IMPORTS |
132.607 |
153.683 |
141.722 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
213.51 |
285.50 |
496.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.71 |
5.77 |
9.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.41 |
9.01 |
14.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.13 |
11.38 |
19.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.18 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.35 |
0.93 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66 |
1.56 |
2.21 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from Plot No.
121/B, Bommasandra Industrial Area, Anekal Taluk,
COMPANY OVERVIEW:
The Company was incorporated on 21 December, 2000 as a private limited
company under the Companies Act, 1956. The company is a wholly owned subsidiary
of KOMET Group GmbH,
Contingent
Liabilities and commitments:
|
Particulars |
31.03.2010 (Rs. In Millions) |
|
Claims against the
Company not acknowledged as debts in respect of: |
|
|
Sales tax matters |
-- |
|
Other commitments
and contingent liability |
|
|
a) Estimated amount of contracts remaining to be executed on capital account (net of advances) and not provided for |
1.763 |
|
b) Bank guarantees outstanding issued in favor of Excise authorities |
0.803 |
|
|
|
FIXED ASSETS:
·
Land
·
Building
·
Leasehold Improvements
·
Plant and Machinery
·
Computers
·
Furniture and Fixture
·
Office Equipments
·
Motor Vehicles
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.45.37 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.62.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
56 |
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.