|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
LUWA INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.95, Industrial Suburb, 2nd Stage, Yeshwanthapura, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.05.1993 |
|
|
|
|
Com. Reg. No.: |
014292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01711KA1993FTC014292 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRL00262D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL3106B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Industrial Air Engineering Machinery. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 241592 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/Factory : |
No.95, Industrial Suburb, 2nd Stage, Yeshwanthapura,
Bangalore – 560022, Karnataka, India |
|
Tel. No.: |
91-80-23370277 |
|
Fax No.: |
91-80-23378721 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Raimund Robert Koenig |
|
Designation : |
Director |
|
Address : |
Herzog-Sigmund-Str8, Gruenwald, 82031,
Germany |
|
Date of Birth/Age : |
29.05.1956 |
|
Date of Appointment : |
09.05.2007 |
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 |
U01711KA1993FTC014292 |
LUWA INDIA PRIVATE LIMITED
|
Director |
29/09/2007 |
09/05/2007 |
- |
Active |
NO |
|
Name : |
Mr. Thomas Trauttmansd Orff Weinsberg |
|
Designation : |
Director |
|
Address : |
Kopernikusstr.3, 1st Floor Main Flat, Munich, 81679,
Germany |
|
Date of Birth/Age : |
23.03.1965 |
|
Date of Appointment : |
09.05.2007 |
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 |
U01711KA1993FTC014292 |
LUWA INDIA PRIVATE LIMITED
|
Director |
29/09/2007 |
09/05/2007 |
- |
Active |
NO |
|
Name : |
Mr. Gottfried Abrell |
|
Designation : |
Director |
|
Address : |
Waelde 9, 88263 Horgenzell |
|
Date of Birth/Age : |
12.01.1962 |
|
Date of Appointment : |
01.01.2008 |
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 |
U01711KA1993FTC014292 |
LUWA INDIA PRIVATE LIMITED
|
Director |
25/09/2009 |
01/01/2008 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Luwa Air Engineering Beteligungs GmbH (Formerly Known As Gruenwald Equity Beteligungs Vi GmbH), Germany |
|
199990 |
|
Gruenwald Equity Beteligungs Gmbh, Germany |
|
10 |
|
Total |
|
200000 |
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
|
Line of Business : |
Manufacturer of Industrial Air Engineering Machinery. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
Canara Bank, Tumkur Road, Yeshwanathpur, Bangaore
- 560022, Karnataka, India ·
Union Bank of India, Industrial Finance Branch,
111/4 Hafeeza Chambers; K H Road, Bangalore - 560027, Karnataka, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountant |
|
Address : |
14, Government Place East, Kolkata – 700069, West Bengal, India |
|
Tel No.: |
91-33-22481111/1507/6962 |
|
Fax No.: |
91-33-22486960 |
|
|
|
|
Holding Company : |
Luwa Air Engineering Beteligungs GmbH |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
Millions |
|
|
|
|
|
(Of the above equity shares 199990 Shares are
held by the holding company Luwa Air Engineering Beteligungs GmbH.)
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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
58.398 |
49.479 |
34.745 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
60.398 |
51.479 |
34.745 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.398 |
51.479 |
34.745 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.689 |
7.309 |
11.169 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
9.848 |
11.877 |
3.857 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
95.152
|
68.681 |
113.326 |
|
|
Sundry Debtors |
147.288
|
80.508 |
99.545 |
|
|
Cash & Bank Balances |
53.824
|
27.899 |
14.961 |
|
|
Other Current Assets |
0.173
|
0.137 |
0.043 |
|
|
Loans & Advances |
134.144
|
118.433 |
101.549 |
|
Total
Current Assets |
430.581
|
295.658 |
329.424 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
97.095
|
60.668 |
99.853 |
|
|
Other Current Liabilities |
206.244
|
130.218 |
154.927 |
|
|
Provisions |
84.381
|
72.479 |
52.925 |
|
Total
Current Liabilities |
387.720
|
263.365 |
307.705 |
|
|
Net Current Assets |
42.861
|
32.293 |
21.719 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
60.398 |
51.479 |
36.745 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
745.955 |
635.849 |
591.067 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
731.563 |
627.848 |
640.677 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
14.392 |
8.001 |
(49.610) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.473 |
(6.734) |
(0.386) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.919 |
14.735 |
(49.996) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
49.479 |
34.744 |
84.740 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
58.398 |
49.479 |
34.744 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.20
|
2.32 |
8.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.28
|
2.64 |
(14.68) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.16 |
(1.43) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.42
|
5.12 |
8.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.12 |
1.07 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9)
Name of person contacted |
No |
|
10)
Designation of contact person |
No |
|
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 |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
21)
Market information |
-- |
|
22)
Litigations that the firm / promoter involved in |
-- |
|
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 |
FINANCIAL RESULTS AND OPERATIONS:
During the year
2010-2011 the Company was able to sustain its growth momentum through operational
excellence, high quality products, innovation and by providing customer-centric
product solutions to satisfy customer requirements. The turnover (Current year
turnover- Rs.824.926 Millions) from sales of the Company’s products depicted an
upward boost by about 20% as compared to the previous year (Previous year
turnover- Rs. 679.410 Millions). The gross profit earned by the Company during
the year (Profit before tax-Rs.14.391 Millions during 2010-2011) depicted a
stabilized performance as compared to the previous year (Profit before Tax-Rs.
8.001 Millions during 2009-2010). The enhanced sales of the Company’s products
conforming to international standards are a clear affirmation of the Company’s
channel initiatives implemented through consolidation, employee engagement,
performance management and customer focus to create an efficient and robust
system of operation.
The Directors are
confident of further improving the performance of the Company by implementation
of conservative operating plans for the year ahead with continued focus on cost
management to meet the challenges posed by the competitive business
environment.
FORM 8:
|
Corporate identity number of the company |
U01711KA1993FTC014292 |
|
Name of the company |
LUWA INDIA PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
No.95, Industrial Suburb, 2nd
Stage, Yeshwanthapura, Bangalore – 560022, Karnataka, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of charge holder |
CANARA BANK |
|
Nature of instrument creating charge |
Hypothecation Agreement of Goods And Book
Debts |
|
Date of instrument Creating the charge |
26/07/2010 |
|
Amount secured by the charge |
Rs.50.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest As may be prescribed by bank from time to
time Terms of Repayment BG-Upto 18 months for both APG and PG Margin 25% for PG and APG Extent and Operation of the charge The charge shall operate to the extent of
entire loan amount plus interest, commission, costs, expenses and other
charges thereon. |
|
Short particulars of the property charged |
Hypothecation by way of first charge on
stocks and book debts present and future stored at No 95, Industrial Suburb,
2nd stage, Yeshwanthapur, Bangalore-560022 or at any other place. |
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.56.28 |
|
|
1 |
Rs.88.25 |
|
Euro |
1 |
Rs.70.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.