MIRA
INFORM REPORT
|
Report Date : |
05.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
KRAUSSMAFFEI TECHNOLOGIES INDIA PRIVATE LIMITED |
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Registered
Office : |
Office No.1, 1st Floor, North Court, Opposite Joggers Park,
Kalyani Nagar, Pune – 411006, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.05.2009 |
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Com. Reg. No.: |
11-134055 |
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Capital
Investment / Paid-up Capital : |
Rs.2.300 millions |
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CIN No.: [Company Identification
No.] |
U51909PN2009FTC134055 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK08957E |
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PAN No.: [Permanent Account No.] |
AADCK6709N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Sales and Service of Machinery for Processing Plastics. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. Profitability of the company
is under pressure. 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 safe and
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.
INFORMATION PARTED BY
|
Name : |
Mr. Francis Mendonce |
|
Designation : |
Accountant Department |
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Contact No.: |
91-20-41404600 |
|
Date : |
04.06.2012 |
LOCATIONS
|
Registered Office : |
Office No.1, 1st Floor, North Court, Opposite Joggers Park,
Kalyani Nagar, Pune – 411006, Maharashtra, India |
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Tel. No.: |
91-20-41404600 |
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Fax No.: |
91-20-41404699 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Overseas Office: |
Located At ·
China ·
Japan ·
Korea ·
Thailand |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Helmut Achim Richter |
|
Designation : |
Director |
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Address : |
Hannoversche Str4, Sehnde ot Hover – 31319, Germany |
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Date of Birth/Age : |
19.08.1960 |
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Date of Appointment : |
08.08.2009 |
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DIN No.: |
02758799 |
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Name : |
Mr. Avtarsingh Kartarsing Sangtani |
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Designation : |
Director |
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Address : |
B/11 Pratap Society, JP Raod, Opposite Ragal Shoes, Andheri (West),
Mumbai- 400058, Maharashtra, India |
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Date of Birth/Age : |
18.11.1954 |
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Date of Appointment : |
08.08.2009 |
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DIN No.: |
02760997 |
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Name : |
Mr. Klaus Bange |
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Designation : |
Director |
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Address : |
AM Graebenbach, Weiler Simmerberg – 88171, Germany |
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Date of Birth/Age : |
04.07.1961 |
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Date of Appointment : |
31.05.2011 |
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DIN No.: |
03557599 |
KEY EXECUTIVES
|
Name : |
Mr. Francis Mendonce |
|
Designation : |
Accountant Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
KraussMaffei Technologies Gmbh, Germany |
|
115000 |
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KraussMaffei Financial Services Gmbh, Germany |
|
115000 |
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Total |
|
230000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Sales and Service of Machinery for Processing Plastics. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Manufacturer Company |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Sudit K Parekh and Company Chartered Accountant |
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Address : |
2nd Floor, Ballard House, Adi Marzban Path, Mumbai- 400001,
Maharashtra, India |
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Tel No.: |
91-22-66178000 |
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Fax No.: |
91-22-66178002 |
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Email: |
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PAN.: |
AAAFS4500P |
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Holding Company: |
KraussMaffei Financial Services GmbH, Germany Line of Business: Sales and Service of Machinery for Processing
Plastics. |
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Subsidiary
Company: |
KraussMaffei Technologies Gmbh, Germany |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
230000 |
Equity Shares |
Rs.10/- each |
Rs.2.300 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230000 |
Equity Shares |
Rs.10/- each |
Rs.2.300
Millions |
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|
|
|
|
Note: Of the above
issued, subscribed and paid-up capital 115,000 (Previous year 115,000) Equity
shares of Rs.10/- each are held by the Holding Company. KraussMaffei Financial Services
GmbH, Germany and 115,000 Equity Shares of Rs.10/-each fully paid up are held by KraussMaffei
Technologies GmbH, Germany a subsidiary
of KraussMaffei Financial Services GmbH.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2.300 |
2.300 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
|
(16.841) |
(8.153) |
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|
NETWORTH |
|
(14.541) |
(5.853) |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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|
TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
|
(14.541) |
(5.853) |
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.291 |
0.475 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
0.388 |
0.482 |
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Cash & Bank Balances |
|
1.815 |
1.162 |
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Other Current Assets |
|
0.799 |
0.874 |
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Loans & Advances |
|
1.164 |
0.709 |
|
Total
Current Assets |
|
4.166 |
3.227 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1.261
|
0.488 |
|
|
Other Current Liabilities |
|
18.460 |
8.966 |
|
|
Provisions |
|
0.277 |
0.101 |
|
Total
Current Liabilities |
|
19.998 |
9.555 |
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|
Net Current Assets |
|
(15.832) |
(6.328) |
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|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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|
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|
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TOTAL |
|
(14.541) |
(5.853) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
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|
SALES |
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|
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Income |
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Other Income |
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TOTAL |
|
9.243 |
1.157 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
17.931 |
9.310 |
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PROFIT/LOSS
BEFORE TAX |
|
(8.688) |
(8.153) |
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Less |
TAX |
|
-- |
-- |
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|
PROFIT/LOSS
AFTER TAX |
|
(8.688) |
(8.153) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(8.153) |
- |
|
|
|
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|
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BALANCE CARRIED
TO THE B/S |
|
(16.841) |
(8.153) |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
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Export Earnings |
|
8.062 |
0.549 |
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TOTAL EARNINGS |
|
8.062 |
0.549 |
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Earnings/Loss
Per Share (Rs.) |
|
(37.77) |
NA |
|
The above information has been parted by Mr. Francis Mendonca –
Accountant Department
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
93.99 |
704.67 |
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
208.55 |
252.65 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.60 |
1.39 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
1.38 |
1.63 |
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Current Ratio (Current Asset/Current Liability) |
|
|
0.21 |
0.34 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
|
|
Micro, Small and Medium Enterprise and
others |
- |
- |
|
Others |
1.261
|
0.488 |
|
Total |
|
|
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last two years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
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18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Note: Registered office f the company has been shifted
from Indo-German Chamber of Commerce, 710 Nucleus Mall, Police Commissioners
Office, Church Road, Pune – 411001, Maharashtra, India to the present address
w.e.f 21.11.2009
Operations:
The Total income year of the Company is
Rs.9.243. The performance of the company was satisfactory. The Board foresees
good opportunity in coming year.
Fixed Assets:
·
Tangible Assets
·
Plant and Machinery
·
Computer Equipments
·
Office Equipments
·
Intangible Assets
·
Computer Softwares
AS PER WEBSITE DETAILS
KraussMaffei recently opened is own facility for marketing
in India. The leading manufacturers of Injection Moulding and Extrusion
Machinery have opened an office and plans for marketing of these products to
take part in the often repeated Growth Story of India, covering the product
range of KraussMaffei and KraussMaffei Berstorff. A team of at present 8 people
taking care about a product range which is unique in the plastics industry.
Located in the western part of India at Pune the Industrial Hub of glorious
Maharashtra particularly for the Automobile Manufactures, Automotive Component
Manufactures, White Goods refrigerators, washing machines, etc. Medical and
Packaging, Extrusion and Compounder for engineering plastics
KraussMaffei Technologies GmbH started a success story in 1838 in Munich and
around the world. Joseph Anton Ritter von Maffei (1790-1870), scion of a
prosperous merchant family from Verona in Italy, founded a locomotive factory
in Munich, initially called "Eisenwerk Hirschau". 1866 another Munich
locomotive company, Krauss & Comp., founded as a limited partnership by
Dr.-Ing. e.h. Georg von Krauss (1826-1906). After their merger in 1931 there
was no stopping them.
In business year 2007/2008 KraussMaffei was a 1 Billion EUR turnover company
with 4000 people, manufacturing as well as marketing bases in Germany and
around the globe.
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.55.51 |
|
8UK Pound |
1 |
Rs.85.29 |
|
Euro |
1 |
Rs.68.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
-- |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
13 |
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.