MIRA
INFORM REPORT
|
Report Date : |
28.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
GEBERIT PLUMBING TECHNOLOGY INDIA PRIVATE LIMITED (w.e.f. 22.06.2010) |
|
|
|
|
Formerly Known
as: |
GEBIN WATER MANAGEMENT SYSTEMS PRIVATE LIMITED |
|
|
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Registered
Office : |
Laxman Complex, No. 07, 6th Main, 4th Block,
Goraguntepalya Ring Road, Bangalore – 560022, Karnataka |
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Country : |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
25.04.2005 |
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|
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Com. Reg. No.: |
036146 |
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Capital
Investment / Paid-up Capital : |
Rs.7.003 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U41000KA2005PTC036146 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG05515G |
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PAN No.: [Permanent Account No.] |
AACCG3542J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Bathroom
Fittings and Sanitaryware |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 341668 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. There
appears some losses being incurred by the company in the current year.
However, trade relations are reported as fair. Business is active. Payments
are reported to be usually correct. 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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Laxman Complex, No. 07, 6th Main, 4th Block, Goraguntepalya
Ring Road, Bangalore – 560022, Karnataka, India |
|
Tel. No.: |
91-80-23376127/23570612 |
|
E-Mail : |
DIRECTORS
AS ON 26.04.2011
|
Name : |
Mr. William James Christensen
|
|
Designation : |
Director |
|
Address : |
Hoh-Rohnenweg 19 Ch 8832, Wilen B Wollerau, USA |
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Date of Birth/Age : |
13.01.1973 |
|
Date of Appointment : |
10.02.2010 |
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 |
U41000KA2005PTC036146 |
Geberit Plumbing
Technology India Private Limited |
Additional director |
10/02/2010 |
10/02/2010 |
- |
Active |
NO |
|
2 |
U36993KA2010FTC054963 |
Geberit India
Manufacturing Private Limited |
Director |
26/08/2010 |
26/08/2010 |
- |
Active |
NO |
|
Name : |
Mr. Roland Iff
|
|
Designation : |
Director |
|
Address : |
Rigiweg 53, Herrliberg, Zurich 8704, Switzerland |
|
Date of Birth/Age : |
08.03.1961 |
|
Date of Appointment : |
10.02.2010 |
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 |
U41000KA2005PTC036146 |
Geberit Plumbing Technology
India Private Limited |
Additional director |
10/02/2010 |
10/02/2010 |
- |
Active |
NO |
|
2 |
U36993KA2010FTC054963 |
Geberit India
Manufacturing Private Limited |
Director |
26/08/2010 |
26/08/2010 |
- |
Active |
NO |
|
Name : |
Mr. Sharad Mathur
|
|
Designation : |
Managing Director |
|
Address : |
E9, Greenwood City, Sector 46, Gurgaon – 122003, Karnataka |
|
Date of Birth/Age : |
19.05.1961 |
|
Date of Appointment : |
10.05.2010 |
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 |
U41000KA2005PTC036146 |
Geberit Plumbing Technology
India Private Limited |
Additional director |
10/05/2010 |
10/05/2010 |
- |
Active |
NO |
|
Name : |
Mr. Peter Waspi |
|
Designation : |
Director |
|
Address : |
Schoneimstrasse 12 Ch 9404, Roschacherberg St Gallon |
|
Date of Birth/Age : |
23.04.1963 |
|
Date of Appointment : |
22.10.2010 |
|
|
|
|
Name : |
Mr. Narsim
Kasargod Shenoy |
|
Designation : |
Director |
|
Address : |
33b, Embassy Palace, Cunningham
Road, Bangalore - 560052 , Karnataka, India |
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Date of Birth/Age : |
26.04.1931 |
|
Date of Appointment : |
25.04.2005 |
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Date of Ceasing: |
05.04.2010 |
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|
|
|
Name : |
Mr. Tara
Narasimha Shenoy |
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Designation : |
Director |
|
Address : |
33b, Embassy Palace, Cunningham
Road, Bangalore - 560052 , Karnataka, India |
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Date of Birth/Age : |
01.08.2009 |
|
Date of Appointment : |
05.04.2010 |
KEY EXECUTIVES
|
Name : |
Ms. Manjunath E |
|
Designation : |
Company Secretary |
|
Address : |
No. 119, Sambalingeswara Temple Street , (Village Post), Bannerghatta
Road Bangalore -
560076, Karnataka |
|
Date of Birth/Age : |
01.06.1975 |
|
Date of Appointment : |
11.04.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Geberit Holding Ag |
|
1018936 |
|
Sharat Narasimha Shenoy |
|
03 |
|
Geberit International Sales Ag |
|
02 |
|
Total |
|
1018941 |
AS ON 26.09.2011
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.00 |
|
Other top fifty shareholders |
1.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Bathroom Fittings and Sanitaryware |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
Axis Bank Limited, "Esquire Centre", No.9 M G Road,
Bangalore - 560001, Karnataka, India |
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Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Amarnath Kamat and Associates Chartered Accountant |
|
Address : |
Carewel House, 6th Cross, Muniswamappa Layout, Off Airport Road,
Bangalore – 560017, Karnataka, India |
|
|
|
|
Holding Company : |
Gebrit Holding AG |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9600000 |
Equity Shares |
Rs.10/- each |
Rs.96.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
700343 |
Equity Shares |
Rs.10/- each |
Rs.7.003
Millions |
|
|
|
|
|
(Of the above, 200,000
Equity shares of Rs.10 each were issued as bonus shares on capitalisation of
reserves)
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 |
7.003 |
3.000 |
3.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
78.414 |
27.127 |
9.902 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
85.417 |
30.127 |
12.902 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
11.600 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
11.600 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.046 |
|
|
|
|
|
|
|
|
TOTAL |
85.417 |
30.127 |
24.548 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
18.869 |
6.933 |
5.569 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.866 |
0.374 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
93.887
|
29.487 |
24.301 |
|
|
Sundry Debtors |
29.225
|
9.721 |
14.861 |
|
|
Cash & Bank Balances |
39.350
|
4.989 |
3.861 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
30.568
|
23.696 |
22.761 |
|
Total
Current Assets |
193.030
|
67.893 |
65.784 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
104.815
|
27.083 |
24.839 |
|
|
Other Current Liabilities |
13.047
|
6.017 |
6.794 |
|
|
Provisions |
10.486
|
14.975 |
15.180 |
|
Total
Current Liabilities |
128.348
|
48.075 |
46.813 |
|
|
Net Current Assets |
64.682
|
19.818 |
18.971 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
85.417 |
30.127 |
24.548 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 |
31.12.2009 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
231.601 |
135.595 |
172.742 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.152 |
21.279 |
21.007 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.751 |
1.011 |
0.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(3.599) |
20.268 |
20.147 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.833 |
6.281 |
7.854 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(4.432) |
13.987 |
12.293 |
|
|
|
|
|
|
|
|
|
Add |
DEPRECIATION
(SHORT) / EXCESS PROVIDED IN EARLIER YEAR ACCOUNTED |
0.000 |
0.069 |
(0.043) |
|
|
|
|
|
|
|
|
|
Add |
EXCESS / (SHORT)
PROVISION OF TAXES IN EARLIER YEAR REVERTED |
(0.125) |
0.168 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.926 |
0.702 |
3.692 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.369 |
14.926 |
15.941 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 |
31.12.2009 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(1.91)
|
10.31 |
7.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.70)
|
27.09 |
28.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
0.67 |
1.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.50
|
1.59 |
3.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.41 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company
has been shifted from 4th Floor, Laxminarayan Complex, 10/1, Palace Road,
Bangalore, Karnataka to #201, Varsav Plaza, #12, Jayamahal Road, Bangalore –
560046, Karnataka, India w.e.f. 16.02.2009
The registered office address of the company
has been shifted from #201, Varsav Plaza, #12, Jayamahal Road, Bangalore –
560046, Karnataka, India to present w.e.f. 08.02.2010
FORM 8:
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U41000KA2005PTC036146 |
|
Name of the company |
GEBIN WATER MANAGEMENT SYSTEMS PRIVATE
LIMITED |
|
Address of the registered office or of the
principal place of business in |
Varsav Plaza, 12, Jayamahalmain Road, Bangalore – 560046, Karnataka, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of charge holder |
Axis Bank Limited |
|
Nature of description of the instrument
creating or modifying the charge |
Composite Hypothecation Deed |
|
Date of instrument Creating the charge |
28.03.2008 |
|
Amount secured by the charge |
Rs.5.000 Millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest BPLR - 0.20% Presently at 14.55% p.a.
(Present BPLR is 14.75% p.a) Terms of Repayment CC - Running account repayable on demand Margin 25% Stock/ Book debts Extent and Operation of the charge The charge shall operate to the extent of
Rs.5.000 Millions plus interest, commission, costs, expenses and other
charges thereon. |
|
Short particulars of the property charged |
The charge by way of hypothecation of
entire present and future current assets and entire movable fixed assets
(other than vehicles) including movable machinery, plant and machinery,
fixtures, fitting, cranes, furniture, computers, stocks of rawmaterials, work
in process, finished/ semi finished goods, stock in process, consumables
stores, spares, bills and bookdebts/receivables stored/installed at Varsav Plaza, 3rd
Floor, No.12, Jayamahal Main Road, Bangalore or at any other place. |
FIXED ASSETS:
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Equipments
·
Motor Car
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.49.17 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
43 |
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.