|
Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
HRS PROCESS SYSTEMS LIMITED (w.e.f. 22.04.2010) |
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Formerly Known As : |
HRS PROCESS SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
201, 2nd
Floor, Karan Selene, 851,
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
01.04.2003 |
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Com. Reg. No.: |
25-17846 |
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Capital
Investment/ Paid-up Capital: |
Rs.5.100 Millions |
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CIN No.: [Company Identification
No.] |
U29198PN2003PTC017846 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEH04305A |
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Legal Form : |
A closely held
public limited Liability company |
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Line of Business
: |
Manufacturer and
Exporter of Ecoflux, Shell Tube Heat Exchangers,
Endangers, Corrugated Exchangers etc. |
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No. of
Employees: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 480000 |
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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. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. 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. Sandeep |
|
Designation : |
Finance Executive |
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Contact No.: |
91-020-25663581 |
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Date : |
04.05.2012 |
LOCATIONS
|
Registered Office : |
201, 2nd
Floor, Karan Selene, 851,
|
|
Tel. No.: |
91-20-25663581/82 |
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Fax No.: |
91-20-25663583 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
201/202, Floor, Karan Selene, 851, |
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Tel. No.: |
91-20-2566 3581/6604 7894 and
95 |
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Fax No.: |
91-20-2566 3583 |
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Factory : |
Gat No.565/1, Koregaon Bhima,
Tal. Shirur, District- Pune- 412216, |
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Tel. No.: |
91-2137-676701 |
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Fax No.: |
91-2137-676705 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Venugopalan Gokuldas |
|
Designation : |
Managing Director |
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Address : |
Flat No.12, Anushka, |
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Date of Birth/Age : |
03.06.1963 |
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Date of Appointment : |
01.04.2003 |
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Din No.: |
00489737 |
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Name : |
Mr. Steven John Pither |
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Designation : |
Director |
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Address : |
10-12, |
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Date of Appointment : |
13.06.2003 |
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Din No.: |
02047015 |
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|
|
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Name : |
Mr. Rajendra Kantrao
Dawkar |
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Designation : |
Additional Director |
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Address : |
Building No. F1-6, |
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Date of Birth/Age : |
06.02.1967 |
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Date of Appointment : |
24.03.2009 |
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Din No.: |
02581847 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
HRS International Limited, |
|
469146 |
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HRS Heat Exchangers Limited, |
|
51 |
|
Venugopalan Gokuldas |
|
40799 |
|
Das Elizabeth |
|
01 |
|
Francisco Javier Abad Ruiz |
|
01 |
|
Pither Edward Steven |
|
01 |
|
Twydle Michael Robert |
|
01 |
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Total |
|
510000 |
As on 30.09.2011
Equity Shares Break - up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
92.00 |
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Directors or relatives of directors |
|
8.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Ecoflux, Shell Tube Heat Exchangers,
Endangers, Corrugated Exchangers etc. |
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Products : |
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Exports : |
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Products : |
·
Ecoflux ·
Shell
Tube Heat Exchangers ·
Endangers ·
Corrugated
Exchangers |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash/ Credit |
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Purchasing : |
Cash/ Credit |
PRODUCTION STATUS 31.03.2011
|
Particular |
Units |
Actual Production |
|
Corrugated Tube Heat Exchanger |
In No.s |
1335 |
GENERAL INFORMATION
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Customers : |
Whole Salers, Retailers, End Users |
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No. of Employees : |
110 (Approximately) |
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Bankers : |
State Bank of |
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Facilities : |
Rs.
in Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Naniwadekar and Company Chartered Accountant |
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Address : |
2, Nalini Apartments, Plot No. 3/10, |
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Pan No.: |
AANPN9281B |
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Holding Company: |
HRS International Limited, |
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Fellow Subsidiaries: |
·
HRS Heat Exchangers SLU ·
HRS FUNKE Heat Exchange FZCO |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- Each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
510000 |
Equity Share |
Rs.10/- Each |
Rs.5.100
millions |
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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 |
5.100 |
5.100 |
5.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
115.051 |
95.865 |
71.361 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
120.151 |
100.965 |
76.461 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.172 |
29.291 |
31.294 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
30.172 |
29.291 |
31.294 |
|
|
DEFERRED TAX LIABILITIES |
3.982 |
3.339 |
1.625 |
|
|
|
|
|
|
|
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TOTAL |
154.305 |
133.595 |
109.380 |
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|
|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
69.611 |
67.920 |
64.809 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
65.666
|
54.170 |
26.298 |
|
|
Sundry Debtors |
58.672
|
50.338 |
47.799 |
|
|
Cash & Bank Balances |
6.503
|
18.185 |
4.476 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
28.146
|
12.667
|
12.300
|
|
Total
Current Assets |
158.987
|
135.360 |
90.873 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
42.424
|
41.431
|
27.375
|
|
|
Other Current Liabilities |
19.532
|
11.930
|
11.272
|
|
|
Provisions |
12.337
|
16.324
|
7.655
|
|
Total
Current Liabilities |
74.293
|
69.685 |
46.302 |
|
|
Net Current Assets |
84.694
|
65.675 |
44.571 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
154.305 |
133.595 |
109.380 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
380.809 |
300.952 |
226.306 |
|
|
|
Other Income |
4.647 |
5.323 |
2.422 |
|
|
|
TOTAL (A) |
385.456 |
306.275 |
228.728 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Operations |
216.162 |
151.802 |
114.775 |
|
|
|
Personnel expenses |
46.404 |
40.572 |
23.983 |
|
|
|
Other Expenses |
75.201 |
50.639 |
46.961 |
|
|
|
TOTAL (B) |
337.767 |
243.013 |
185.719 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
47.689 |
63.262 |
43.009 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.095 |
2.609 |
3.909 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.594 |
60.653 |
39.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.439 |
4.015 |
4.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41.155 |
56.638 |
34.833 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.643 |
20.240 |
12.439 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
27.512 |
36.398 |
22.394 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
89.986 |
69.121 |
57.320 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
7.140 |
10.200 |
3.570 |
|
|
|
Tax on Proposed Final Dividend |
1.186 |
1.694 |
0.607 |
|
|
|
Transfer to General Reserve |
2.751 |
3.693 |
2.239 |
|
|
|
Dividend |
0.000 |
0.000 |
3.570 |
|
|
|
Dividend Tax |
0.000 |
0.000 |
0.607 |
|
|
BALANCE CARRIED
TO THE B/S |
106.421 |
89.986 |
69.121 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
13.818 |
9.970 |
20.852 |
|
|
TOTAL EARNINGS |
13.818 |
9.970 |
20.862 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
23.067 |
11.871 |
4.962 |
|
|
|
Capital Goods |
0.277 |
2.927 |
0.000 |
|
|
TOTAL IMPORTS |
23.344 |
14.798 |
4.962 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.94 |
71.37 |
43.91 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover |
|
|
300.000 (Due to less order) |
|
|
|
|
|
Expected Sales (2012-2013) : Rs.400.000 Millions
The above information has been parted by Mr. Sandeep
.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.14
|
11.88 |
9.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.80
|
18.81 |
15.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.18
|
27.86 |
22.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.56 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.86
|
0.98 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
1.94 |
1.96 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
Yes |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Sundry Creditors Details
Rs. in Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Dues to Micro and small enterprises |
0.090 |
0.584 |
0.350 |
|
Dues to creditors other than Micro and small
enterprises |
42.334 |
40.847 |
27.025 |
|
|
42.424 |
41.431 |
27.375 |
Performance:
The business environment has been very challenging in the financial year
2010-11 even though there were signs of recovery. The company performance has been commendable
against this background. The sales has increased by 26 %, however there has
been decrease in EBIT and PAT. This has been due to increase in raw materials
prices during the year and increase in other cost related to project execution.
They have also invested in enhancing the products by participating into major
exhibitions which has helped enhance the products. Some projects worth Rs. 14 million have got deferred to the next financial
year. All these have had an impact on the overall profitability of the company.
The outlook is positive for the next financial year where they are anticipating
the growth in sales with growth in profits.
They are in the process of strengthening the management team by
inducting some key Managers into the different performance areas of the
business. They are furthering the human capital build-up by recruiting some
middle and junior level employees who will be trained in house to work on the
expansion plans.
Some key highlights for the year ended 31st March 2011 are :
·
Banking : They have renewed the banking facilities
with State Bank of
·
Excise Audit have been completed upto 2006-07 and taken on record.
·
SBI have carried a Stock Audit in the Facility
during the year. They have also appointed their Valuer
for evaluating the asset of the company.
·
During the year to cater to the growing business
potential for the company have taken up additional office space of about 2300
Sq. ft. in the same building. This enables them to expand the manpower resource
to address the growing business demands.
·
They have taken a Gratuity Policy from HDFC
Standard Life for continual Employee Care Facilities.
·
During the year they have once again received the
highest NSIC-CRISIL rating of SE 1A for the year based on the review from
CRISIL.
·
The Company constitution has been changed from Private
Limited to Limited Company (Unlisted) with effect from 22nd April
2010. The same has been informed to the Stakeholders, Customers, Vendors and
Associates. Thus they are in the process of enhancing the presence in the
region.
·
New Technology Licence :
During the year the company has entered into the strategic alliance with FUNKE Warmeaustauscher GmbH,
·
HRS. International : they have renewed Technical
License Agreement with HRS International to enable they leverage new
developments and applications developed by the Group globally.
Future Plans
The company in investing in enhancing its
presence in the market by employing manpower and other marketing aids
The pharma sector
continues to grow at healthy pace. We have also made in roads in to core
sectors like steel, cement, power and fertilizer which have helped us enhance
our business areas. The growing food processing sector which a part from pulp
and beverages has shown growth in the processed food and focus food id focus
segment.
International business has been specially
focused with the trust in the
Bankers Charges Report
as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10029876 |
|
Corporate
identity number of the company |
U29198PN2003PTC017846 |
|
Name of the
company |
HRS PROCESS SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
201, 2nd
Floor, Karan Selene, E-Mail ID: finance@hrsasia.co.in |
|
Type of charge |
·
Immovable
Property ·
Book
Debts ·
Movable
Property |
|
Particular of
charge holder |
State Bank of Deccan Gymkhana, Pune-411004, E-Mail ID: shrikrishna.joshi@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of Further
Charge and Supplemental Agreement of Loan cum Hypothecation. Both Agreements
constitute single charge. |
|
Date of
instrument Creating the charge |
27.03.2012 |
|
Amount secured by
the charge |
Rs.165.300
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Working capital -
6% p.a. above Base Rate 10% p.a.(present effective rate 16% p.a.) Term Loan - 6.75%
p.a. above Base Rate 10% p.a. (present effective rate 16.75% p.a.) For Term loan
interest rate @13%p.a at monthly rests Terms of Repayment Working Capital
facilities of Rs.150.000 Millions ( Cash Credit Rs.45.000 Millions+ Letter of
Credit Rs.50.000Millions+Bank guarantee Rs.40.000 Millions+ Forward Contract
Limit) repayable on demand , subject
to renewal. Term Loan of
Rs.30.000 Millions repayable in 60 monthly installments from September 2012
to November 2017 Margin Stocks, Raw
Materials, Stock in progress, FG - 25% Receivables - 40% Letter of
Credit- Cash Margin 10% Bank
Guarantee- Cash Margin 10% Extent and Operation of the charge First charge on
the movable and immovable property of the company as described in Schedule I
to Deed of Further Charge, Schedule A
of Supplemental Loan Agreement and Sanction Letter of the bank. Others: As per Letter of
Arrangement |
|
Short particulars
of the property charged |
For DCC
hypothecation of stock of goods and receivables including goods in transit For Term Loan -
Plant and machinery, Building at Gat No.565/1, Koregaon
Bhima, Tal. Shirur, Distt. Pune For BG - Charge
on above security and hypothecation of stocks and book debts, Omnibus counter
guarantee For BG For LC - Charge
on above security and hypothecation of stocks and books, Omnibus indemnity Collateral
Security: - a. For CC, LG, BG,
TL - Regd. Mortgage of land and building situated
at Gat No.565/1, Koregaon Bhima,
Tal. Shirur, Distt. Pune. For Guarantees/TPGs - Nil |
|
Date of Last
Modification prior to present modification |
11.02.2011 |
|
Particulars of
the present modification |
DCC limits
enhanced by Rs.20.000 Millions LC limits
enhanced by Rs.40.000 Millions TL limits (Fresh
and total) Rs.30.000 Millions Forward contract
limit (for hedging) Rs.0.300 Millions BG limits
enhanced by Rs.15.000 Millions |
FIXED ASSETS
As per Web Site Details
News:
HRS launches HRS Paradice,
an innovative processing solution for diced products at Food & BevtTech 2012
HRS Process Systems Ltd. (HRS PSL), part of HRS Group, UK launched 'HRS ParaDice', designed specifically for value added processing in the food sector at the Food & Bevtech 2012 Exhibition, held at Bombay Exhibition Centre, Mumbai, 25th -27th April. HRS ParaDice can process diced fruits, vegetables and similar food products to cater to their requirement in various application areas like fruits bases and toppings, fruit pulp drinks, ice creams, custard, puddings, soups, jams, marmalades, sauces with particles, fillings and coatings, health food / drinks, among others
HRS ParaDice is an innovative processing solution for value added food product manufacture," said Mr. V Gokuldas, Managing Director, HRS Process Systems Limited.
HRS ParaDice is capable of processing fruit and vegetable dices without any kind of breakage. HRS ParaDice can also be used for blanching of vegetables, pasteurization and chilling of ready-to-eat fruits, etc. It ensures aseptic processing and longer shelf life of the food product without adding any preservatives and retains the organic properties, like - taste, color, smell, structure as well as the nutritional properties, like – vitamins and minerals of fruits and vegetables
The fruit / vegetable dices are pumped using HRS Hygienic Piston Pump and are heated and cooled in the highly efficient ECOFLUX* Heat Exchangers. The fruit dices can be pasteurized or aseptically processed using HRS ParaDice. HRS ParaDice's specially designed 'dimple corrugated' tube heat exchangers enable rapid, homogeneous and efficient heat transfer. Moreover, the Unique Piston Pump that has been enabled in this new product handles products without breakage.
HRS Process Systems, one of
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: sNone
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.53.34 |
|
|
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BYI |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
45 |
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.