|
Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
THYSSENKRUPP ELECTRICAL STEEL INDIA PRIVATE LIMITED |
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Registered
Office : |
Village-Wadivarhe,
Post-Gonde, Taluka-Igatpuri,
Nashik-422403, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.07.2000 |
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Com. Reg. No.: |
11-127807 |
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Capital
Investment / Paid-up Capital : |
Rs.3149.349 Millions |
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CIN No.: [Company Identification
No.] |
U27100MH2000PTC127807 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Cold Rolled Electrical Steel. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20000000 |
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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 a well established company having satisfactory track.
Financial position of the company appears to be good. Trade relations are
reported as fair. Business is active. Payments are reported to be usually
correct as per commitments. In view of strong promoters 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.
INFORMATION PARTED BY
|
Name : |
Mr. Vishal Kulkarni |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-2553-225182 |
|
Date : |
13.06.2012 |
LOCATIONS
|
Registered Office / Factory : |
Village-Wadivarhe,
Post-Gonde, Taluka-Igatpuri,
Nashik-422403, Maharashtra, India |
|
Tel. No.: |
91-2553-225182 |
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Fax No.: |
91-2553-225181 |
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E-Mail : |
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Website : |
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Distribution Centers : |
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Regional Sales Offices: |
Located At :
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DIRECTORS
As on 23.11.2011
|
Name : |
Mr. Chandrashekhar Mathur |
|
Designation : |
Director |
|
Address : |
A-12, Nizamuddin East, New Delhi, Delhi, India |
|
Date of Birth/Age : |
10.02.1951 |
|
Date of Appointment : |
09.09.2000 |
|
DIN No.: |
00003232 |
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|
Name : |
Mr. Kesava Iyer Venkatesan |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 41, SSA Ashwin Nagar CIDCO, Nashik-422009, Maharashtra, India |
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Date of Birth/Age : |
14.07.1962 |
|
Date of Appointment : |
23.06.2004 |
|
DIN No.: |
00056671 |
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|
|
|
Name : |
Mr. Michael Johannes Thiemann |
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Designation : |
Director |
|
Address : |
Flat No. 409, 410, Samudra Mahal Premises, Dr. A. B. Road,
Mumbai-422018, Maharashtra, India |
|
Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
30.11.2007 |
|
DIN No.: |
00061988 |
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|
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|
Name : |
Mr. Johannes Dippel |
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Designation : |
Whole time Director |
|
Address : |
Sanderweg 12 44803, Bochum, Germany |
|
Date of Birth/Age : |
27.08.1960 |
|
Date of Appointment : |
01.10.2009 |
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DIN No.: |
02794543 |
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|
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|
Name : |
Mr. Peter Biele |
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Designation : |
Director |
|
Address : |
Zum Baerler Buscm 3 47199 Duisberg, Germany |
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Date of Birth/Age : |
09.12.1956 |
|
Date of Appointment : |
26.11.2009 |
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DIN No.: |
02859931 |
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|
|
|
Name : |
Mr. Heinz Pafferath |
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Designation : |
Director |
|
Address : |
Herderallee 3 47191 Duisberg, Germany |
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Date of Birth/Age : |
17.01.1949 |
|
Date of Appointment : |
26.11.2009 |
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DIN No.: |
02859965 |
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|
|
|
Name : |
Mr. Joydeep Bidyut Bhattacharjee |
|
Designation : |
Whole time Director |
|
Address : |
H17, Thakkars Retreat Juna Gagapur Naka Gangapur Road, Nashik –
422005, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1968 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02813496 |
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|
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|
Name : |
Mr. LUC Claude Marie Vendeville |
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Designation : |
Director |
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Address : |
32 Rue Edgar Quinet Bethune 62400, France |
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Date of Birth/Age : |
12.09.1958 |
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Date of Appointment : |
23.11.2010 |
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DIN No.: |
03378972 |
KEY EXECUTIVES
|
Name : |
Mr. Tushar Janardan Lakhmapurkar |
|
Designation : |
Secretary |
|
Address : |
Shivlila Row House No. 1, Opposite Van Vaibhav, Indira Nagar,
Nashik-422009, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1969 |
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Date of Appointment : |
06.11.2006 |
|
|
|
|
Name : |
Mr. Vishal Kulkarni |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.11.2011
|
Names of Shareholders |
|
No. of Shares |
|
Thyssenkrupp Electrical Steel GMBH, Germany |
|
314934880 |
|
Thyssenkrupp Electrical Steel Verwaltun Sgesellschaft MBH, Germany |
|
20 |
|
Total |
|
314934900 |
Equity Share Break up (Percentage of Total Equity)
As on 23.11.2011
|
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
|
Line of Business : |
Manufacturer of Cold Rolled Electrical Steel. |
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|
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Products : |
ITC Code No. |
Product
Description |
|
|
72091830 |
Flat rolled
products of Mild steel |
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|
72251100 |
Flat rolled products
of silicon electrical grain oriented steel |
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|
72251900 |
Flat rolled
products of silicon electrical non-grain oriented steel |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
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GENERAL INFORMATION
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Customer: |
Wholesalers Manufacturer |
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No. of Employees
: |
300 (Approximately) |
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Bankers : |
·
Royal Scotland Bank, Nashik, Maharashtra, India ·
HSBC Bank, Nashik, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
KPMG House, Kamala Mill Compound, 448, Senapati Bapat Road, Lower Parel,
Mumbai-400013, Maharashtra, India |
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PAN No.: |
AAAFB9852F |
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Ultimate holding
company : |
ThyssenKrupp AG |
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Holding company
of the immediate parent company: |
ThyssenKrupp Steel Europe AG |
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|
Holding
company (immediate parent company): |
·
ThyssenKrupp Electrical Steel GmbH ·
Uhde India Limited ·
Rothe Erde India Private Limited ·
Otto Wolf Handelsgesellschaft ·
ThyssenKrupp Steel (Asia Pacific) Pte Ltd. |
|
|
|
|
Fellow
subsidiaries/Affiliates : |
·
ThyssenKrupp Bausysteme GmbH ·
Isocab France SAS ·
ThyssenKrupp USA Inc ·
ThyssenKrupp Engine Components India Private Ltd ·
ThyssenKrupp Industries India Pvt Ltd |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
340000000 |
Equity Share |
Rs.10/- Each |
Rs.3400.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
314934900 |
Equity Share |
Rs.10/- Each |
Rs.3149.349
Millions |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3149.349 |
3149.349 |
3149.350 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2048.301 |
1711.811 |
1419.370 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5197.650 |
4861.160 |
4568.720 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
395.140 |
0.000 |
0.430 |
|
|
TOTAL BORROWING |
395.140 |
0.000 |
0.430 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
9.290 |
|
|
|
|
|
|
|
|
TOTAL |
5592.790 |
4861.160 |
4578.440 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1395.890 |
1238.830 |
1461.490 |
|
|
Capital work-in-progress |
440.080 |
256.280 |
24.410 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3376.980
|
2042.210 |
2660.570
|
|
|
Sundry Debtors |
1151.190
|
1068.800 |
830.920
|
|
|
Cash & Bank Balances |
136.990
|
1209.780 |
601.580
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
660.460
|
371.900 |
377.740
|
|
Total
Current Assets |
5325.620
|
4692.690 |
4470.810 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
403.670
|
314.150 |
0.000
|
|
|
Other Current Liabilities |
802.650
|
669.920 |
1290.090
|
|
|
Provisions |
444.620
|
428.510 |
88.180
|
|
Total
Current Liabilities |
1650.940
|
1412.580 |
1378.270
|
|
|
Net Current Assets |
3674.680
|
3280.110 |
3092.540
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5592.790 |
4861.160 |
4578.440 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8560.000 |
7801.000 |
6263.000 |
|
|
|
Other Income |
168.000 |
159.000 |
110.000 |
|
|
|
TOTAL (A) |
8728.000 |
7960.000 |
6373.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
7947.000 |
7198.000 |
6005.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
781.000 |
762.000 |
368.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.000 |
6.000 |
11.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
759.000 |
756.000 |
357.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
256.000 |
317.000 |
483.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
503.000 |
439.000 |
(126.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
167.000 |
147.000 |
(38.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
336.000 |
292.000 |
(88.000) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1712.000 |
1420.000 |
1508.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2048.000 |
1712.000 |
1420.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
18.690 |
131.760 |
368.700 |
|
|
TOTAL EARNINGS |
18.690 |
131.760 |
368.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6944.240 |
3934.860 |
4439.890 |
|
|
TOTAL IMPORTS |
6944.240 |
3934.860 |
4439.890 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.07 |
0.93 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.85 |
3.67 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.88 |
5.63 |
2.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.48 |
7.40 |
2.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.39 |
0.29 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.22 |
3.32 |
3.24 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
-- |
|
Others |
403.670
|
314.150 |
-- |
|
Total |
403.670
|
314.150 |
-- |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
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 |
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 |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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 |
Review of
Operations
During the year,
The Company has achieved profit before tax Rs.503.000 Millions, compared to
Rs.439.000 Millions. Last year an increase of 15% over previous year. The
company could achieve this results, despite having constant increase in the
prices of inputs and market not being so supportive, by optimizing the
product-mix and choosing the customer profile, that would demand high quality
with premium.
Fixed Assets
AS PER WEBSITE DETAILS
COMPANY
Subject is one of the Cold Rolled Electrical Steel Manufacturer in India. A leader and a name synonymous with Quality and Customization. The company ethos mirrors most characteristics similar to its core product; like electrical steel TKES India is innovative and flexible in its thought process; consistent and technology driven in products; environment friendly and energy conserving in its manufacturing process.
Steel making is considered to be one of the oldest and most elemental businesses. Post liberalization era in India propelled strong growth of infrastructure sector and increase in per capita income increased the demand for the electrical equipments. In 1995, Raymond Limited started a unit, Raymond Steel, at Nashik, India, to manufacture electrical steel as well as mild steel.
In September 2000, EBG India Private Limited was formed with ThyssenKrupp having 76% and Raymond the balance 24%. In the year 2004, TKES India turned around and became a profitable company. ThyssenKrupp purchased the remaining shares of Raymond and the company became 100% subsidiary of ThyssenKrupp Electrical Steel, Germany and renamed as ThyssenKrupp Electrical Steel India Private Limited in the same year. TKES India has since continuously achieved improvement to become one of India’s best manufacturers of international quality electrical steel.
Today with strength of over 600 employees, production capacity of 273,000 MT per year, annual turnover of 136 Mio Euro, TKES-India with its production plant at Nashik, has 9 Sales offices in major cities of India and 7 distribution centers spread across India near to customers.
TKES India places its business philosophy on the principles of sustainability and innovation, quality and customer focus. TKES India believes that any high performance sustainable organization rests on the three pillars of economic, social and environmental performance.
Product portfolio of TKES India is unique to all plants of ThyssenKrupp Steel AG. TKES India products include
1. Non Grain Oriented Steel – NGO
2. Grain Oriented Steel – GO
3. Carbon Steel
4. Stampings
This enables TKES India to be flat steel solution provider to industries like engineering, white goods, household appliance and automotive.
TKES India application engineering with R and D support from ThyssenKrupp, Germany is always exploring ways to minimize energy losses, starting from the power generation, transmission, all the way through to the final usage of power. Electrical steel can significantly contribute to preserving natural resources as well as helping environmentally clean energy sources to become more competitive.
Continual improvement of the quality is always on the forefront in TKES India and investments are continuously made to realize the products with built in quality. Its product testing laboratory is one of the finest in India and has been accredited by National Accreditation Board for testing and calibration Laboratories (NABL).
TKES, India adopted Integrated Management Policy System for quality and environmental standards. It has been awarded ISO 9001 for Quality Management System and ISO 14001 for Environment Management System ISO 18001 for Occupational Health and Safety Advisory Services by BSI.
Energy conservation is an integral part of operations at TKES India. Achievements of ENCON Team in energy saving has led to getting awards from Confederation of Indian Industry and Maharashtra Energy Development Agency and Public Private Partnership initiatives undertaken to develop the Standards and Labeling of Electrical equipments and spreading the energy conservation awareness in India are reflections of continuous efforts by TKES India for energy conservation.
TKES India, strategically positioned in one of the rapidly growing markets in world, is set on the path of growth supported by ThyssenKrupp Steel AG.
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.55.85 |
|
|
1 |
Rs.86.87 |
|
Euro |
1 |
Rs.69.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.