MIRA INFORM REPORT

 

 

Report Date :

12.11.2011

 

IDENTIFICATION DETAILS

 

Name :

HUMBOLDT WEDAG INDIA PRIVATE LIMITED

 

 

Registered Office :

Commerce House, 8th Floor, Room No.8C, 2A, Ganesh Chandra Avenue,  Kolkata - 700013, West Bengal

 

 

Country :

India

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

21.07.1976

 

 

Com. Reg. No.:

21-30634

 

 

Capital Investment / Paid-up Capital :

Rs.19.200 Millions

 

 

CIN No.:

[Company Identification No.]

U51909WB1976PTC030634

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALH00484B

 

 

PAN No.:

[Permanent Account No.]

AAACH7474G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Cement Plant and Machinery, fast expanding and having good business in Indian and International market.

 

 

No. of Employees:

2500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 4355672

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company and a part of German giant. Financial position of the companies is good. Trade relations are reported as fair. Business is active. Payments terms are reported to be regular and as per commitment.

 

The company can be considered good for normal business dealings at usual trade terms and conditions.

 

It can be regarded as a promising business partner in a medium to long run. 

 

 

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)

India

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 :

Mathura Road, Mehtab House A-36, Mohan Co-op Estate, New Delhi – 110044, Delhi, India 

Tel. No.:

91-11-42101100/200

Fax No.:

91-11-42101104/105

E-Mail :

marketing@hw-india.com

 

 

Branch 1 :

Hong Kong

Suite 803, 8th Floor, Dina House, Ruttonjee Centre, 11, Duddell Street, Central Hong Kong

Tel. No.:

852-25373613

Fax No.:

852-25373689

E-Mail :

Mfc.hk@mfc-china.com

 

 

Branch 2 :

China

36th Floor, Tower 1, Kerry City, 218, Tianmu Road West, P.R. China

Tel. No.:

86-21-25373277

Fax No.:

86-21-63173763

E-Mail :

mfcbancorp@mfc-china.com

 

 

Branch 3 :

Europe

Millennium Tower, 21st Floor, Handelski 94-96, 1200 Vienna, Austria

Tel. No.:

43-1-240-25-300

Fax No.:

43-1-240-25-310

E-Mail :

mfcbancorp@bmgmt.com

 

 

DIRECTORS

 

AS ON 17.05.2011

 

Name :

Ms. Vidya Sagar

Designation :

Director

Address :

F 111 DLF City, Phase – I, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

20.12.1925

Date of Appointment :

21.07.1976

 

Other Directorship:

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U74210DL1967PTC016861

I P SUPPORT SERVICES (INDIA) PVT LTD

Director

03/08/1967

03/08/1967

27/02/2011

Active

NO

2

U29253DL1976PTC216812

HUMBOLDT WEDAG INDIA PRIVATE LIMITED

Director

21/07/1976

21/07/1976

27/02/2011

Active

NO

3

U18109DL1993PTC054093

LECOANET HEMANT INDIA PRIVATE LIMITED

Director

17/06/1993

17/06/1993

27/02/2011

Active

NO

4

U74899DL1994PTC057707

DR WILLMAR SCHWABE INDIA PRIVATE LIMITED

Alternate director

06/03/2010

04/03/1994

27/02/2011

Active

NO

5

U29130TN1996PTC035709

AUMUND ENGINEERING PRIVATE LIMITED

Director

10/06/1996

10/06/1996

01/12/2010

Active

NO

6

U29219AP1997PTC027696

NIEHOFF OF INDIA PRIVATE LIMITED

Director

06/08/1997

06/08/1997

27/02/2011

Active

NO

7

L29130MH1962PLC012340

FAG BEARINGS INDIA LIMITED

Director

24/04/2009

20/04/2006

27/02/2011

Active

NO

 

Name :

Mr. Ravindra Prakash

Designation :

Director

Address :

202A, Laburnum Lok, Gurgaon – 122002, Haryana, India

Date of Birth/Age :

12.12.1944

Date of Appointment :

12.01.2004

 

Other Directorship:

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U13209PN2001PTC015703

HALLMARK MINERALS (INDIA) PRIVATE LIMITED

Director

17/11/2003

17/11/2003

22/12/2008

Active

NO

2

U29253DL1976PTC216812

HUMBOLDT WEDAG INDIA PRIVATE LIMITED

Director

12/01/2004

12/01/2004

27/04/2011

Active

NO

3

U13100DL2005PTC132569

MAGNUM MINERALS PRIVATE LIMITED

Director

19/02/2005

19/02/2005

-

Active

NO

 

 

Name :

Mr. Josef Martin Friedrich Gierse

Designation :

Director

Address :

200, Jor Bagh, New Delhi – 110003, Delhi, India

Date of Birth/Age :

26.02.1956

Date of Appointment :

31.03.2009

 

Other Directorship:

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U29253DL1976PTC216812

HUMBOLDT WEDAG INDIA PRIVATE LIMITED

Whole-time director

23/09/2009

31/03/2009

-

Active

NO

 

 

Name :

Mr. Andrew Blythe

Designation :

Director

Address :

Brick Kilnfarm Parkins Lane, Grimston, Melton Mowbray, Leicestershire, British Indian Ocean Territory, LE143DB

Date of Birth/Age :

24.09.1964

Date of Appointment :

31.03.2009

 

Other Directorship:

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U29253DL1976PTC216812

HUMBOLDT WEDAG INDIA PRIVATE LIMITED

Director

23/09/2009

31/03/2009

16/02/2011

Active

NO

 

 

Name :

Mr. Manfred Josef Weinandy

Designation :

Director

Address :

Hasselbeckstrabe 106 Mettmann

Date of Birth/Age :

21.08.1955

Date of Appointment :

21.05.2011

 

Other Directorship:

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U29253DL1976PTC216812

HUMBOLDT WEDAG INDIA PRIVATE LIMITED

Director

17/05/2011

21/02/2011

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Dhiroj Kumar Barad

Designation :

Secretary

Address :

L 324, Sarita Vihar, New Delhi – 110076, Delhi, India

Date of Birth :

25.06.1975

Date of Appointment :

04.01.2010

Date of Ceasing :

01.10.2010

 

 

Name :

Mr. Dharmender Tuteja

Designation :

Secretary

Address :

183, Mandakini Enclave, Alaknanda, New Delhi – 110019, Delhi, India

Date of Birth :

25.06.1975

Date of Appointment :

04.01.2010

 

 

MAJOR SHAREHOLDERS

 

AS ON 17.05.2011

 

Names of Shareholders

No. of Shares

KHD Humboldt Wedag International GMBH, Germany

1919904

MFC Industrial Holdings AG, Germany

96

Total

1920000

 

AS ON 17.05.2011

 

Equity Share Break Up

Percentage

Foreign holdings (Foreign institutional investors ) foreign companies foreign financial institutions , non residents or Overseas corporate bodies or others

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Cement Plant and Machinery, fast expanding and having good business in Indian and International market.

 

 

Products :

·         Decanter Centrifuge Components

·         Other Spares

·         Vibrating Screen Centrifuge

 

 

Exports :

 

Products :

Motors Pumps, Submersible Pumps

 

PRODUCTION STATUS AS ON 31.03.2009

 

Particulars

Unit

 

Installed Capacity

Actual Production

Cement Plant Equipments

MT

 

--

820

Vibrating Screen

Pcs.

 

--

1

Vibrating Screen Centrifuge

Pcs.

 

--

3

Decanter Centrifuges including Solid Bowl

Nos.

 

--

20

Pusher Type

 

 

 

 

Cement Plant Equipments

MT

 

1199

361

 

 

GENERAL INFORMATION

 

No. of Employees :

2500 (Approximately)

 

 

Bankers :

·         Deutsche Bank AG

9, Shakespeare Sarani,

Kolkata-700071, West Bengal, India

·         State Bank of India

 

 

Banking Relations :

Unknown

 

 

Auditors :

 

Name:

Mr. Deepak Ray

Chartered Accountants

Address :

7th Floor, Building No.10Tower B, DLF Cyber city Complex, DLF Phase – II, Gurgaon – 122002, Haryana, India

 

 

Holding Company :

·         KHD Humboldt Wedag International GmbH, Vienna (Upto April 20, 2010)

·         KHD Humboldt Wedag GmbH Cologne (Upto April 20, 2010)

 

 

Ultimate Holding Company:

KHD Humboldt Wedag International AG (Upto April 20, 2010)

 

 

Fellow Subsidiaries :

·         KHD Humboldt Wedag GmbH, Germany

·         Humboldt Wedag Inc., USA

·         KHD Humboldt Wedag Industrial Services AG Cologne

·         ZAB Zementanlagenbau GmbH Dessau

·         KHD Humboldt Wedag Coal and Mineral Tech GmbH, Germany

·         Humboldt Wedag SA Private Limited, South Africa

·         KHD Humboldt Wedag Machinery Equipment (Beijing) Co. Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

2000000

Equity Shares

Rs.10/-each

Rs.20.000 millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1920000

Equity Shares

Rs.10/-each

Rs.19.200 millions

 

 

 

 

 

Notes:

Of the above Equity Shares,

  1. 10,000 shares of Rs.10 each were allotted as fully paid up pursuant to a contract without payment being received in cash.
  2. 1,820,000 shares of Rs.10 each were allotted as fully paid up bonus shares by capitalisation of General Reserve.
  3. 1,919,904 shares are held by KHD Humboldt Wedag International GmbH and the balance 96 shares are held by KHD Humboldt Wedag International (Deutschland) AG (formerly MFC Industrial Holdings AG).

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2010

31.12.2009

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

19.200

19.200

19.200

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

1294.838

1069.718

667.087

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1314.038

1088.918

686.287

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.000

0.000

0.000

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

1314.038

1088.918

686.287

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

66.889

76.048

117.677

Capital work-in-progress

3.214

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

49.002

18.003

10.852

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

93.692
80.928

183.712

 

Sundry Debtors

1455.912
1336.159

1251.221

 

Cash & Bank Balances

1599.150
1186.673

957.824

 

Other Current Assets

474.792
50.572

146.644

 

Loans & Advances

387.649
461.171

651.844

Total Current Assets

4011.195
3115.503

3191.245

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

2060.634
1393.931

1735.937

 

Others Current Liabilities

95.927
171.408

49.094

 

Provisions

659.701
555.297

848.456

Total Current Liabilities

2816.262
2120.636

2633.487

Net Current Assets

1194.933
994.867

557.758

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

1314.038

1088.918

686.287

 


PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

 

31.03.2009

 

SALES

 

 

 

 

 

Income

 

 

4132.310

 

 

Other Income

 

 

316.020

 

 

TOTAL                                     (A)

 

 

4448.330

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

 

 

4203.010

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

 

 

245.320

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

 

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

 

 

245.320

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

 

64.370

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

 

 

180.950

 

 

 

 

 

Less

TAX                                                                  (I)

 

 

42.450

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                  (J)

 

 

138.500

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

 

 

1573.814

 

TOTAL EARNINGS

 

 

1573.814

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

 

 

369.247

 

 

Capital Goods

 

 

0.000

 

TOTAL IMPORTS

 

 

369.247

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

72.13

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2010

31.12.2009

31.03.2009

PAT / Total Income

(%)

NA
NA

3.11

 

 

 
 

 

Net Profit Margin

(PBT/Sales)

(%)

NA
NA

4.37

 

 

 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)

NA
NA

5.67

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

NA
NA

0.17

 

 

 
 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.14
1.94

3.83

 

 

 
 

 

Current Ratio

(Current Asset/Current Liability)

 

1.42
1.47

1.21

 

 

LOCAL AGENCY FURTHER INFORMATION

 

NOTE:

 

The registered office address of the company has been shifted from Kanak Building, 4th Floor, 41, Chowringhee Road, Kolkata-700071, West Bengal, India to Commerce House, 8th Floor, Room No.8C, 2A, Ganesh Chandra Avenue,  Kolkata - 700013, West Bengal w.e.f. 01.07.2010

 

The registered office address of the company has been shifted from Commerce House, 8th Floor, Room No.8C, 2A, Ganesh Chandra Avenue,  Kolkata - 700013, West Bengal, India to present w.e.f. 08.12.2010

 

 

 


CMT REPORT [Corruption, Money laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No 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.50.27

UK Pound

1

Rs.80.07

Euro

1

Rs.68.44

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILIRY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.