MIRA
INFORM REPORT
|
Report Date : |
17.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
NOSKE – KAESER INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
133/1, L.G. Floor, Katwaria Sarai, Opposite Indian Bank, |
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Country : |
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|
|
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Financials (as
on) : |
30.06.2010 |
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|
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|
Date of
Incorporation : |
04.09.2006 |
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Com. Reg. No.: |
55-152991 |
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Capital Investment/
Paid-up Capital: |
Rs. 0.100 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U29118DL2006PTC152991 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELN08644G |
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PAN No.: [Permanent Account No.] |
AACCN5532H |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and Exporter of Air Conditioning and Refrigerators
Equipments. |
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|
|
|
No. of
Employees: |
(12) Approximately In Office |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track recordes.
There appears huge accumulated losses recorded by the company. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow. The company can be considered for business dealings on a secured 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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
|
Name : |
Mr. R.N Bandyopadhyay |
|
Designation : |
Head Business Development |
|
Contact No.: |
91-9990053274 |
|
Date : |
11.10.2011 |
LOCATIONS
|
Registered Office : |
133/1, L.G. Floor, Katwaria Sarai, Opposite Indian Bank, |
|
Tel. No.: |
91-11-26541400 |
|
Mobile No.: |
91-9990053274 (Mr. R.N Bandyopadhyay) |
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Fax No.: |
91-11-26541415 |
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E-Mail : |
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|
Location : |
Rented |
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|
|
|
Factory : |
Mumbai |
|
Location : |
Rented |
DIRECTORS
As on 06.12.2010
|
Name : |
Mr. Harald Wolfgang Carstens |
|
Designation : |
Director |
|
Address : |
Kleckerwaldweg, 82, Jesteburg – 21266, DE |
|
Date of Appointment : |
22.09.2006 |
|
DIN No: |
00825794 |
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|
|
|
Name : |
Mr. Lutz Kuller |
|
Designation : |
Director |
|
Address : |
Kruhnskoppel, Henstedt Ulzburg – 24558, DE |
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Date of Birth/Age : |
18.06.1967 |
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Date of Appointment : |
22.09.2006 |
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DIN No: |
00825819 |
KEY EXECUTIVES
|
Name : |
Mr. R.N Bandyopadhyay |
|
Designation : |
Head Business Development |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Noske – Kaeser |
|
9998 |
|
Rajendra Khanna |
|
1 |
|
Jaspreet Singh |
|
1 |
|
Ambeesh Marwah |
|
2 |
|
Total |
|
10002 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.12.2010
|
Category |
|
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
|
99.98 |
|
Others |
|
0.02 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Air Conditioning and Refrigerators
Equipments. |
|
|
|
|
Products : |
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Exports : |
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|
Products : |
Air Conditioners and Refrigerators |
GENERAL INFORMATION
|
Suppliers : |
Vishwakarma Automobiles |
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|
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Customers : |
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No. of Employees : |
(12) Approximately In Office |
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Bankers : |
Indian Bank, |
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|
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Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
B. Lugani and Associates Chartered Accountants |
|
Address : |
105, Rakesh Deep, 11 Commercial Complex, Gulmohar Enclave, |
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PAN No.: |
AABPL4990M |
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|
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Holding Company: |
Noske – Kaeser GmbH |
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Subsidiary: |
Noske – Kaeser GmbH Noske – Kaeser – New |
CAPITAL STRUCTURE
As on 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
292500 |
Equity Shares |
Rs. 10/- each |
Rs. 2.925 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10002 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
11.559 |
11.559 |
11.559 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
[4.032] |
[3.065] |
[7.568] |
|
|
NETWORTH |
7.627 |
8.594 |
4.091 |
|
|
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 |
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|
|
|
|
|
|
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TOTAL |
7.627 |
8.594 |
4.091 |
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|
|
|
|
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|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
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|
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|
FIXED ASSETS [Net Block] |
2.882 |
3.532 |
3.884 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1.679
|
2.945 |
0.549 |
|
|
Cash & Bank Balances |
4.070
|
5.589 |
2.570 |
|
|
Other Current Assets |
0.232
|
0.145 |
0.145 |
|
|
Loans & Advances |
0.319
|
0.434 |
0.006 |
|
Total
Current Assets |
6.300
|
9.113 |
3.270 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
1.230
|
3.871 |
3.137 |
|
|
Provisions |
0.325
|
0.180 |
0.000 |
|
Total
Current Liabilities |
1.555
|
4.051 |
3.137 |
|
|
Net Current Assets |
4.745
|
5.062 |
0.133 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.074 |
|
|
|
|
|
|
|
|
TOTAL |
7.627 |
8.594 |
4.091 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
13.791 |
27.545 |
4.853 |
|
|
|
TOTAL |
13.791 |
27.545 |
4.853 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
|
|
|
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|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
13.614 |
21.710 |
11.328 |
|
|
|
TOTAL |
13.614 |
21.710 |
11.328 |
|
|
|
|
|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.177 |
5.835 |
(6.475) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.803 |
1.024 |
0.881 |
|
|
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|
|
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|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
[0.626] |
4.811 |
(7.356) |
|
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|
|
|
|
|
|
|
Less |
TAX |
0.380 |
0.179 |
0.212 |
|
|
|
|
|
|
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|
|
|
PROFIT/ (LOSS)
AFTER TAX |
[1.006] |
4.632 |
(7.568) |
|
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|
|
|
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|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Consultancy |
13.487 |
17.534 |
3.267 |
|
|
|
Travelling |
0.162 |
0.957 |
0.346 |
|
|
TOTAL EARNINGS |
13.325 |
18.491 |
3.613 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
NA |
NA |
NA |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
50.000 |
Expected Sales (2011-2012) : Rs.70.000 Millions
The above information has been parted by Mr. R.N Bandyopadhyay.
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
PAT / Total Income |
(%) |
[7.29]
|
16.81 |
[155.94] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[6.81]
|
38.04 |
[102.82] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.08]
|
0.55 |
[1.79] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.20
|
0.47 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.05
|
2.24 |
1.04 |
LOCAL AGENCY FURTHER INFORMATION
Check List:
|
Check List by
info Agents |
Available in
Report (Yes/ No) |
|
1) Year of Establishment |
Yes |
|
2)Locality of the Firm |
Yes |
|
3)Constitution of the Firm |
Yes |
|
4)Premises Details |
Yes |
|
5)Type of Business |
Yes |
|
6)Line of Business |
Yes |
|
7)Promoter’s Background |
------------------ |
|
8)No. of Employees |
Yes |
|
9)Name of Person Contacted |
Yes |
|
10)Designation of Contact person |
Yes |
|
11)Turnover of Firm for last three years |
Yes |
|
12)Profitability for last three years |
No |
|
13)Reason for variation <> 20% |
No |
|
14)Estimated for coming financial year |
Yes |
|
15)Capital in the Business |
No |
|
16)Details of Sister Concern |
No |
|
17)Major Suppliers |
Yes |
|
18)Major Customer |
Yes |
|
19)Payment Terms |
Yes |
|
20)Export/ Import Details (if Applicable) |
Yes |
|
21)Market Information |
------------------ |
|
22)Litigation that the Firm / Promoter |
------------------ |
|
23)Banking Details |
Yes |
|
24)Banking facility details |
No |
|
25)Conduct of the Banking |
------------------- |
|
26)Buyer visit details |
------------------- |
|
27)Financials, if provided |
Yes |
|
28)Incorporation details, if applicable |
------------------- |
|
29)Last account filed at ROC |
------------------- |
|
30)Major Shareholders, if applicable |
------------------- |
NOTE:
The Registered Office of the company has been shifted from 16 A, Palam
Marg, Vasant Vihar,
Trade Reference:
- Vishwakarma
Automobiles
- Indian Navy
- Bharat
Electro
Fixed Assets:
- Office Equipments
- Computers
- Furniture and Fixtures
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 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.49.06 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.67.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
11 |
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.