MIRA
INFORM REPORT
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Report Date : |
03.09.2011 |
IDENTIFICATION DETAILS
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Name : |
HARI MACHINES LIMITED |
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Registered
Office : |
Rajgangpur, Sundergarh-770017, Orissa
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
13.07.1948 |
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Com. Reg. No.: |
15-000713 |
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Capital
Investment / Paid-up Capital : |
750000 Euro |
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CIN No.: [Company Identification
No.] |
L29299OR1948PLC000713 |
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Legal Form : |
Public Limited Liability Company. The company’s shares are listed on
the Stock Exchanges. |
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Line of Business
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Manufacturer of Refractory Equipments, Crushing and Grinding Equipment,
Mixing Equipment- counter Current Mixer. |
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No. of Employees
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225 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
Euro 15627514 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Dalmia Group. It is an established company having fine track records. 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office/ Factory : |
Rajgangpur, Sundergarh-770017, |
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Tel. No.: |
91-6624-220141 / 161 |
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Fax No. : |
91-6624-220151 |
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Cable : |
HARIMACHIN |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
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Tel. No.: |
91-33-40174100 to 4109 |
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Fax No. : |
91-33-40174110 |
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E-Mail : |
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Corporate Office 2 : |
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4, Scindia House, |
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Tel. No.: |
91-11-23312706 / 2873 |
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Fax No. : |
91-11-23325160 / 23315762 |
DIRECTORS
As on 22.07.2010
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Name : |
Mr. Raghu Hari Dalmia |
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Designation : |
Chairman |
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Address : |
No.1 Tees January Marg, |
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Date of Birth/Age : |
14.01.1950 |
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Date of Appointment : |
01.10.1980 |
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Name : |
Mr. Gaurav Dalmia |
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Designation : |
Vice Chairman |
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Name : |
Mr. Sabyasachi Mishra |
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Designation : |
Managing Director |
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Name : |
Mr. |
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Designation : |
Director |
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Name : |
Mr. Sushil Kumar Chhawchharia |
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Designation : |
Director |
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Name : |
Mr. Ravinder Kumar Gilani |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Ms. Sudha Agarwal |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Refractory Equipments, Crushing and Grinding
Equipment, Mixing Equipment- counter Current Mixer. |
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Products : |
·
Refractory Equipments ·
Engineering Equipments ·
Sponge Iron Equipments ·
Engineering Equipments and Spares ·
Screening and Separating Machines ·
Mixing Equipments – Counter Current Mixer |
PRODUCTION STATUS AS ON 31.03.2010
Installed Capacity
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Particulars |
Unit |
Installed
Capacity |
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Industrial Machinery, Heavy duty hydraulic toggle press |
Nos. |
10 |
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Gas producers components and Spares |
Nos. |
5 |
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Crushing and Grinding equipmen |
Nos. |
25 |
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Screening and Separating Machines |
Nos. |
12 |
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Mixing equipments - Counter Current Mixture |
Nos. |
20 |
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Pressing equipment - Friction Screw Press |
Nos. |
30 |
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Pressing equipment - Stopper Press |
Nos. |
20 |
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Bucket Elevators |
Nos. |
20 |
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Screw Conveyors |
Nos. |
5 |
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Furnaces (all types) |
Nos. |
12 |
Production
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Particulars |
Unit |
Production |
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Crushing and Grinding equipment |
Nos. |
9 |
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Screening and Separating Machines |
Nos. |
1 |
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Mixing Equipments |
Nos. |
2 |
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Pressing equipment |
Nos. |
1 |
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Skip hoist and Furnace (all types) |
Nos. |
- |
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*Spares and components of above equipments |
Nos. |
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*Engineering equipments and Spares |
Nos. |
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* Not ascertainable due to different specification
GENERAL INFORMATION
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No. of Employees : |
225 [Approximately] |
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Bankers : |
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State Bank of ·
UCO Bank ·
HDFC Bank ·
Punjab National Bank |
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Facilities : |
Notes: ·
Term loans from Banks are secured by way of
equitable mortgage of immovable properties of the Company situated at
Rajgangpur and Kolkata and hypothecation of all the movable assets save and
except the prior charge in favour of Banks over inventories and book debts to
secure working capital limits. ·
Working capital facilities are secured by
hypothecation of raw material, semi-finished goods, stock-in-process,
consumable stores and book debts of the Company.
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Banking
Relations : |
-- |
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Statutory Auditors : |
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Name : |
K D Lath and Company Chartered Accountant |
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Address : |
Narmada, Udit Nagar, Rourkela – 769 012, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
0.15 Euro Each |
750000 Euro |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000000 |
Equity Shares |
0.15 Euro Each |
750000 Euro |
FINANCIAL DATA
[all figures are
Euro]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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750000 |
30303 |
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2] Share Application Money |
|
000 |
000 |
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3] Reserves & Surplus |
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7063757 |
5701818 |
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4] (Accumulated Losses) |
|
000 |
000 |
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NETWORTH |
|
7813757 |
5732121 |
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LOAN FUNDS |
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1] Secured Loans |
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8949863 |
9888348 |
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2] Unsecured Loans |
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1515151 |
000 |
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TOTAL BORROWING |
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10465014 |
9888348 |
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DEFERRED TAX LIABILITIES |
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130000 |
140272 |
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TOTAL |
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18408771 |
15760741 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4706015 |
3399167 |
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Capital work-in-progress |
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1744727 |
2276636 |
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INVESTMENT |
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000 |
000 |
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DEFERREX TAX ASSETS |
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000 |
000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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12413454
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14356924 |
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Sundry Debtors |
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3664045
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2788484 |
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Cash & Bank Balances |
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1046318
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459757 |
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Other Current Assets |
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81909
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19439 |
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Loans & Advances |
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4684590
|
6152636 |
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Total
Current Assets |
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21890316
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23777240 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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2893924
|
2362227 |
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Other Current Liabilities |
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4656318
|
8270909 |
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Provisions |
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2374469
|
3059166 |
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Total
Current Liabilities |
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9924711
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13692302 |
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Net Current Assets |
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11965605
|
10084938 |
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MISCELLANEOUS EXPENSES |
|
000 |
000 |
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OTHERS |
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(7576) |
000 |
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TOTAL |
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18408771 |
15760741 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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28176666 |
19394484 |
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Service Rendered |
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682227 |
309833 |
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Other Receipts |
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865393 |
268515 |
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TOTAL (A) |
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29724286 |
19972832 |
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Less |
EXPENSES |
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Raw Material Consumed |
|
18231773 |
16515848 |
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Personnel Expenses |
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1629636 |
1299804 |
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Power and Fuel |
|
119621 |
104318 |
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Other Expenses |
|
2790212 |
2233515 |
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Increase / (Decrease) in Stocks |
|
1812682 |
(2476075) |
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TOTAL (B) |
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24583924 |
17677410 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
5140362 |
2295422 |
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Less |
INTEREST (D) |
|
1096287 |
804893 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
4044075 |
1490529 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
|
331954 |
285984 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
3712121 |
1204545 |
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Less |
TAX (H) |
|
1268379 |
438060 |
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|
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PROFIT AFTER TAX
(G-H) (I) |
|
2443742 |
766485 |
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|
|
|
|
|
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
4271030 |
3581196 |
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|
|
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|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
244378 |
76651 |
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|
|
Interim / Final Dividend |
|
303030 |
000 |
|
|
|
Tax on Dividend |
|
51500 |
000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
6115864 |
4271030 |
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|
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|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
000 |
229333 |
|
|
|
Service charges realized |
|
000 |
984 |
|
|
TOTAL EARNINGS |
|
000 |
230317 |
|
|
|
|
|
|
|
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|
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IMPORTS |
|
|
|
|
|
|
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Raw Materials |
|
4933863 |
3329924 |
|
|
|
|
|
|
|
|
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Earnings Per
Share (Euro) |
|
0.49 |
3.83 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
8.22 |
3.84 |
|
|
|
|
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Net Profit Margin (PBT/Sales) |
(%) |
|
13.17 |
6.21 |
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
13.96 |
4.43 |
|
|
|
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.47 |
0.21 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.61 |
4.11 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
2.21 |
1.74 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS
After one of the
worst downturn globally, most of the countries are now enroute to recovery though
at varied pace, with some still reeling under its affect. The company's
performance, as reported above has been very satisfactory and is a source of
future optimism.
During the year,
Net Sales of the Company was 29724287 Euro as against 19972803 Euro for F.Y.
2008-09 (an increase of 49%) and Net Profit was 2443742 Euro as against 766484
Euro for F.Y. 2008-09 (an increase of 219%).
The Company
entered into manufacturing agreement with Allmineral Asia Private Limited
(subsidiary Company of Allmineral
Similarly, the Company
has terminated the Technical Assistance Agreement with Hazemag and EPR GmbH and
entered into a fresh manufacturing agreement with Hazemag India Private Limited
(subsidiary Company of Hazemag and EPR GmbH). This is for better business
prospects and in mutual interest of the parties. The Company will manufacture
Min Pro range of products in
The Company has
made substantial progress in installation of 1.00 MTPA Iron
The capacity to
draw on all its resources to supply high quality machinery and provide
technical advice and after sales services on a continuing basis to its
customers has enabled the Company to achieve the reputation of a reliable
manufacturer. Further, it is in continuous look out for long term manufacturing
tie-up with global leaders to enhance its technical and manufacturing
expertise. It is a strategic objective in part of subject to have a diversified
and varied range
of machinery which has been one of its key reason for successes.
MANAGEMENT
DISCUSSION AND ANALYSIS
INDUSTRY TREND AND
DEVELOPMENT
The development of
engineering goods industry is considered to be a pre-requisite for the economic
growth and self-reliance of a country. The most cherished goal of rapid
industrialization and economic uplift of masses cannot be achieved without
this. It is an observed fact that countries having fairly developed engineering
goods industries have more developed economies. The need for the development of
such industries is so vital that despite their lower profitability, they
receive special attention of many developing as well as developed countries.
The engineering sector
is the largest segment of the overall Indian industrial sector.
The engineering
sector has been growing, driven by growth in end user industries and the new projects
being taken up in the power, railways, infrastructure development, private
sector, investment fields etc.
Among developing
countries,
The Company is
looking ahead to the tremendous opportunity in the field of mineral processing,
cement, power, steel and other metallurgical industries in India and abroad by
further strengthening its market base and machine building expertise by
developing new products and entering new areas by forging global alliances/tie
ups and emphasis on customer satisfaction through timely delivery, prompt and
efficient after sales services and trouble free performance of product.
OUTLOOK
With some positive
indications from the global market, the Indian scenario is also full of hope
supported by steady demand from almost all leading consuming sectors. However,
the volatility of price will have a bearing on the steel margins in the coming
period. Meanwhile, with massive expansion of the domestic steel players in
line, incremental supply from main producers is expected to exceed incremental
demand.
The GDP and IIP
forecast of around 7.5% to 8.5% each for fiscal 2010-11 is based on strong
economic fundamentals and steel demand growth in the fiscal 2010-11 over
2009-10 will be primarily driven by key consumption sectors - automotive (9-10%
growth), infrastructure and construction (7-8% growth) and manufacturing (7-8%
growth).
CONTINGENT LIABILITIES
|
|
As on 31.03.2010 Euro |
As on 31.03.2009 Euro |
|
CLAIMS AGAINST THE
COMPANY NOT ACKNOWLEDGED AS DEBTS,
UNDER DISPUTE |
|
|
|
a) Demands for Central and State Sales Tax and Entry Tax pending in
appeal |
100772 |
152651 |
|
b) Bank Guarantee issued in favour of customers |
1280439 |
2226484 |
|
c) Arbitration case in S.E.C.L. Dhanpuri |
14136 |
14136 |
|
d) Demand for service tax |
15469 |
15469 |
|
e) Income Tax |
153409 |
64333 |
|
Total |
1564225 |
2473073 |
FIXED ASSETS
·
Land (Freehold)
·
Building (On Freehold and
·
Plant and Machinery
·
Office Equipment
·
Electrical Equipment
·
Library
·
Furniture and Fixture
AS PER WEBSITE DETAILS:
PROFILE:
Subject is a company
belonging to Dalmia group that has OCL India Limited (formerly Orissa Cement
Limited) as the group's flagship company. The group has interests in cement,
mining, refractories, sugar, power, etc.
Having started
operations in 1971, Subject is serving the various core sector of industries
like steel, sponge iron, refractory, cement etc for the last three decades by
supplying world class machinery and equipment. The company has interest in
mechanical and engineering equipment, mineral processing, crushing and fine
grinding solutions. Subject has been entrusted by SMS-Schloemann Siemag,
Mannessmann Demag, SMS Demag, Salzgitter International, Germany; Loesche,
Hoestemberghe & Klutch of Germany, Morgardshammer of Sweden, Tyazprommexpet
of Turkey for their tailor made intricate equipment like rolling mills,
continuous casters, blast furnace, steel melt shop, vertical roller mills for
various steel and cement plants in India.
Subject has
manufactured hydraulic toggle presses in collaboration with Friedrich Horn Machinenfabrik,
With the passage of
time, Subject has grown into a HEAVY engineering shop manufacturing heavy and
bulky equipment like kilns, coolers etc for 350 TPD sponge iron plants;
electric arc furnace, converters etc for steel plants and cement vertical
roller mills for cement plants. Some of the equipment like electric arc furnace
of 100 tonnes per batch hot metal carrying capacity for Jindal Steel and Power
Limited , Raigarh (designed by SMS Demag) has been manufactured for the first
time in
Subject have
existing capacity to the tune of 30,000 square meter of shed area with heavy
capacity cranes, semi automatic bending machines, vertical lathes, horizontal
boring machines and submerged arc welding machines. With the above, Subject
manufactures, machines and assembles engineering jobs with weight up to 50 tons
single piece, machine 11.5 meters long jobs in single setting on horizontal
boring machines (with digital read outs), machine jobs up to 6.3 meters
diameter and 35 tons weight on vertical boring machine, bend up to 70 mm thick
plates with pre-pinching effect on semi-automatic machines. With the present
infrastructure, Subject has an annual capacity of over 15000 tonnes of various
types of technological items including equipment.
Apart from the
above, Subject has also developed a wide and reliable network of vendors who
have an annual capacity of over 5000 tonnes of various engineering items.
They have in place a well established
and dedicated network of vendors for
supply of critical castings (up to 50 tons single piece), forgings,
indigenous/imported rolled steel, gears/pinions, manufacturing and hard facing of critical rolls and critical
B/O components like bearings, gear boxes, motors, hydraulic/pneumatic circuits including
cylinders. They have also established
MOU with our vendors for reliable and timely delivery of material which has
reduced the uncertainty associated with material procurement to a great extent.
Subject has a
full-fledged Quality assurance department. Ultrasonic testing level-2 and
Magnetic particle testing level-2 are being carried out in house by the ASME
certified inspectors. Subject is maintaining ISO 9001-2000 Quality Management
System and is certified by Indian Register Quality Systems (IRQS). All the
employees have gone through TQM awareness programme and problem solving
techniques.
The capacity to draw
on all its resources to supply high quality machinery and provide technical
advice and after sales service on a continuing basis to its customers has
enabled Subject to achieve the reputation of a reliable manufacturer. Through
exposure to various fields of business and industry and to the design and
technology standards of various developed countries the company has developed a
strong capacity to absorb and establish new product with new technologies,
through the available pool of qualified, trained and experienced engineers,
management experts, highly skilled workmen and well developed business
network.
Subject is looking
ahead to the tremendous opportunity in the field of mineral processing, cement,
power, steel and other metallurgical industries in India and abroad by further
strengthening its market base and machine building expertise by developing new
products and enter new areas by forging global alliances / tie ups and lay
emphasis on customer satisfaction through timely delivery, prompt and efficient
after sales service and trouble free performance of product.
The company tied up
for technical assistance agreement in the year 2005 with HAZEMAG
and EPR GmbH, Germany world leader in the field of
Horizontal crushing technology for manufacture and supply of Primary Crushing
Equipment of various capacities and Coal handling system in India.
Again in the year
2005, Subject entered into a technical assistance agreement with Allmineral
GmbH,
With the above
success story, in the year 2009, Hari Machines added another feather to its cap
by having exclusive manufacturing contract with Allmineal Asia
Private Limited (a
subsidiary of all mineral
In March 2009,
Subject has taken another leap forward by forging technical assistance
agreement with one of the world leaders, CEMTEC cement and mining
technology
MILESTONES:
2010: Secured orders for 60 tph / 50 tph / 34 tph with
using of fuel coal, washery rejects, dolochar, rice husk etc. and pressure up
to 95 ata 520 deg C for Captive Power Plant.
Supplied and successfully commissioned
2 x 19.5 tph WHRB with 67 kg/cm2 pressure and 490+/- Deg C temperature for 8
MW captive power generation for Coke oven Plant i.e. M/s. Ennore Coke Limited ,
Haldia. Successfully commissioned 34 tph AFBC for Nav Durga Fuels, Raigarh.
Relocation of corporate office at
Exclusive manufacturing and marketing rights with Allmineral Asia
Private Limited (a subsidiary of Allmineral GmbH,
Technical assistance agreement with CEMTEC
2009: Received order from
Sree Metaliks, Indrani Patnaik and KJS Ahluwalia for their 2.2 MTPA and 1.2
MTPA iron ore beneficiation Plants in Orissa respectively.
Secured orders for 14 nos. waste heat recovery boilers (WHRB) for 100 TPD DRI Kilns from Shyam DRI, MSP
Metalliks, Vision Sponge, etc. Commissioned 10 TPH WHRB for Nav Durga, Raigarh.
Secured orders for 6 Nos washing drums (Scrubbers) of various capacity and size from customers like Sree Metalliks,
Indrani Patnaik and KJS Ahluwalia for
Largest
2008: Received order
from Brahmani River Pallets Limited for manufacturing and supply
of 2 nos. allflux®
1500 (350TPH x 2) and 3 nos WHIMS 3600 of plant capacity of 4 MTPA in Orissa.
Received order from ESSAR for 4 nos. allflux® 1500 (350 TPH X 4) for their iron ore beneficiation plant and
of capacity 8 MTPA in Orissa. Commissioned 2 x 10 TPH WHRB for Scan Steels,
Rajgangpur. 6 nos allflux® exported on behalf
of allmineral GmbH to FMG,
2007: Manufactured first
cement Kiln on behalf of KHD Humboldt Wedag for OCL India Limited. Installation
of first 200 TPH Coal beneficiation plant (WET) alongwith Crushing and Screening system at SKS Ispat Raipur. Installation
of first 50 TPH Dry coal Washery at OISL, Rangangpur.
Installation of first primary sizer of 200 TPH capacity at Deepak
Mineral Barbil for crushing coal of 0-1000 mm.
2006: Ventured into
forward integration to designing, engineering and manufacturing of Waste Heat
Recovery and Fluidized Bed Boilers.
Technical tie up with
Subject and Allmineral (
2005: Supplied major
equipments for Vertical Roller Mills for Cement plants like OCL, DCBL including
AKIJ,
Manufacturing of AOD converter for Alloy Steel Plant,
2004: Supplied mechanical
equipment for 100 tonnes per batch Electric Arc furnace to JSPL, Raigarh based
on the design of SMS Demag
Exported Friction Screw Press to
2003: Development of
toothed roll crusher Started mfg. of Kiln, cooler and other major equipment for
350TPD Sponge Iron plant
2002: Development and
supply of Counter Current Intensive mixer 1000 kgs/batch to Tata Refractories
Limited, Belpahar Started manufacture of Kiln, cooler and other major equipment
for 100 TPD Sponge Iron plant
2001: Supply of Cold
rolling mill equipment to KYCR,
Supplied Friction Screw Press 400T. To
Manufactured and supplied equipments for continuous casting machine for
TISCO, JVSL, etc
2000: Development of
Gunning m/c and manipulator Started manufacture of Kiln, Cooler and other major
equipment for 50 TPD Sponge Iron plant
1998: Design and
manufacture of planetary mixer, Manufacture and supply of 300th FSP 150T.
1997: Obtained ISO - 1992
certification
1996: Manufacture and supply of 75th FSP 400T.
1995: Development and
marketing of inclined mixer
Pickling Line equipment consisting of Pay Off and Tension Reels, Belt
Wrappers, Shears, Pinch Roll, etc. for Tinplate Co. of India Limited,
1994: Design and
manufacture of Friction Screw Press 800T, with automatic operation hydraulic
brake, outside ejection, PLC control and Vacuum pressing. Manufacture and
supply of 250th FSP 150T.
1993: Rolling Mill
equipment for Mukand Ltd,
1992: Design and
manufacture of the first Counter Current Intensive Mixer 500 kgs
Manufacture and supply of the 50th Friction Screw press 400T.
Supply of Rolling Mill equipment to M.P.Iron and Steel Company Limited,
1991: Supply of Rolling Mill equipment to Usha
Margin Industries Limited to the design of Morgardshammar of Sweden
1990: Supply of Grip
Tilters and Trough Tilters to Kalyani Steel Limited to the design of
Hoestemberghe and Klutch of Germany
1988: Manufacture and supply of the 25th FSP 400T.
Supply of Door Cleaning and Frame Cleaning Mechanism Đ 3 sets of
Visakhapatnam Steel Coke Oven Plant through Heavy Engineering Corporation
Limited,
1987: Change of name to Subject
1986 | 1985: Supply of Rolling
Mill equipment (about 700 MT) for Visakhapatnam Steel Plant through MECON as
per the designs of SMS Schloesmann Simag of
1984 | 1983: Supply of Cold rolling
mill equipment to Nagarjuna Steel Limited,
1982: Design, manufacture
and supply of first Friction Screw Press 400T.
Supply of Equipment for Cold Rolled Grain Oriented Steel project, Rourkela
Steel Plant, through MECON as per the design of Aetna Corprn.of
Supply of 16 nos. Pinch Roll stands for Iskenderun Steel Plant,
1981: Manufacture and
supply of 100th 150 Tonne Friction Screw Pres
1976: Manufacture of
Hydraulic Toggle press in collaboration with Friedrich Horn of
1972: Name changed to HARI YANTRA UDYOG
1971: Establishment of
Rajgangpur Engineering Works to manufacture spares and equipment for Refractory
industry.
PRESS RELEASES:
PRESS TRUST OF
Kolkata, August 25 2011 (PTI) -- For European clean energy companies, India would be the next big market that is pegged at USD 34 billion and growing at 15 per cent, the European Business and Technology Centre (EBTC) said today.
Twenty five deals are in the pipeline and five are in final stages for
The trade body was co-founded by the European Union to promote business
initiatives in
"One such deal facilitated by the organisation was signed here
today between Kolkata-based Hari Machines and RAFACO from
This would help the European power-equipment major to expand its base in
Both the companies would now bid for supplying boilers to coal-based
power projects of upto 100 mega watt (MW) in the country and a total investment
of 7575757 Euro would be required.
This manufacturing of new technology boilers would be first of kind in
the eastern region and can use very inferior coal containing even 70 per cent
ash, Mukherjee said. PTI BSM MM RAH MR 08251834
INDO-ASIAN NEWS SERVICE: 25 AUGUST 2011
Kolkata, Aug. 25 -- The European Business and Technology Centre (EBTC),
an agency co-funded by the European Union (EU) for promoting clean technologies
in India, will facilitate establishing 30 projects in the country in the near
future. "The EBTC has around 25 to 30 projects in the pipeline which will
come up in the near future," its director P.V. Jensen said at a programme
organised by the Bengal Chamber of Commerce and Industry here Thursday.
"The Indo-European projects will be in biotechnology, energy, environment
and transport sectors. Of the 30, five have already been finalised and will
come up soon," he added. However, Jensen did not give any time frame.
Clean technology includes recycling, renewable energy, information technology
among others. The EBTC assists the business, science and research communities
in Europe and
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] 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.45.90 |
|
|
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.65.41 |
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 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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.