|
Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
FABTECH TECHNOLOGIES INTERNATIONAL LIMITED (w.e.f 09.07.2010) |
|
|
|
|
Formerly Known
As : |
FABTECH TECHNOLOGIES INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PULSE PARENTERALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
717, Janki Centre, Off Veera Desai Road, Andheri West, Mumbai – 400
053, Maharashtra, India |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.11.1995 |
|
|
|
|
Com. Reg. No.: |
11-094603 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 27.700 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH1995PLC094603 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF02816C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of clean room equipments, pre – fabricated panels and
injectable lines. |
|
|
|
|
No. of Employees
: |
Information denied by Management. |
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 1150000 |
|
|
|
|
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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB+ (Fund based Limit) |
|
Rating Explanation |
The moderate credit quality rating assigned by ICRA. It carry higher than
average credit risk. |
|
Date |
16th April 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A2+ (Non Fund Based Limit) |
|
Rating Explanation |
The above average credit quality. It carry higher credit risk |
|
Date |
16th April 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Chirag |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-6691200 |
|
Date : |
05.10.2012 |
LOCATIONS
|
Registered Office : |
717, Janki Centre, Off Veera Desai Road, Andheri West, Mumbai – 400
053, Maharashtra, India |
|
Tel. No.: |
91-22-61592800 |
|
Fax No.: |
91-22-615928955/61592855 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
·
Hyderabad Address: H. No. 4-7-66/A, Flat No.3A, CKR Residency, Nagendra Nagar, Habsiguda, Hyderabad - 500007, INDIA Tel. No.: +91 – o40 – 27156267 , +91 – 040 – 65227265 Fax No.: +91 – 040 - 27156268 E-Mail : projectshyd@fabforms.ae · Delhi Address: 310-A, Aditya Arcde,Preet Vihar, New Delhi-110092, India Tel. No.: + 91 - 9250818450 E-Mail : delhi@fabtecheng.com |
|
|
|
|
International
Branches : |
Located at: ·
Dubai ·
Egypt ·
Bangladesh |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Aasif Ahsan Khan |
|
Designation : |
Managing Director |
|
Address : |
604, D-15, Indira Darshan –II, Swami Samarth Nagar, Andheri (West),
Mumbai – 400053, Maharashtra, India. |
|
Date of Birth/Age : |
13.09.1968 |
|
Date of Appointment : |
20.11.1995 |
|
DIN No.: |
00156111 |
|
|
|
|
Name : |
Mr. Hemant Mohan Anavkar |
|
Designation : |
Whole-time Director |
|
Address : |
201, Samarth
Prasad, 9‐A/2, Apna Ghar, Swami Samarth Nagar,
Andheri (West), Mumbai - 400053, Maharashtra,
India |
|
Date of Birth/Age : |
17.02.1962 |
|
Date of Appointment : |
15.12.2000 |
|
DIN No.: |
00150776 |
|
|
|
|
Name : |
Mr. Naseem Ahsan Khan |
|
Designation : |
Whole-time Director |
|
Address : |
93/94, 09, Link
Garden Co‐Operative Housing Society Limited, New
Link Road, Oshiwara, Andheri (West), Mumbai, 400053, Maharashtra, India |
|
Date of Birth/Age : |
12.11.1954 |
|
Date of Appointment : |
15.02.2001 |
|
DIN No.: |
00153263 |
|
|
|
|
Name : |
Mr. Arif Ahsan Khan |
|
Designation : |
Whole-time Director |
|
Address : |
209, 7/C, Al
Aman Apartment, Amrut Nagar, Oshiwara Garden Road, Jogeshwari (West), Mumbai,
400102, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1971 |
|
Date of Appointment : |
16.08.2001 |
|
DIN No.: |
00156170 |
|
|
|
|
Name : |
Mrs. Manisha Hemant Anavkar |
|
Designation : |
Whole-time Director |
|
Address : |
201, Samarth Prasad, 9‐A/2, Apna Ghar,
Swami Samarth Nagar, Andheri (West), Mumbai -
400053, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1968 |
|
Date of Appointment : |
15.02.2011 |
|
DIN No.: |
00733660 |
|
|
|
|
Name : |
Mr. Gopal Krishna Nair |
|
Designation : |
Additional Director |
|
Address : |
A‐1 Cenced ‐ 318 Union Park, Khar, Mumbai - 400052, Maharashtra, India |
|
Date of Appointment : |
20.10.2010 |
|
DIN No.: |
02772926 |
|
|
|
|
Name : |
Ms. Haifaa Khan Aasif |
|
Designation : |
Whole-time Director |
|
Address : |
604, D-15, Indira Darshan –II, Swami Samarth Nagar, Andheri (West),
Mumbai – 400053, Maharashtra, India. |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
03617982 |
KEY EXECUTIVES
|
Name : |
Mr. Chirag |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Aasif Ahsan Khan |
|
1661997 |
|
Hemant Mohan Anavkar |
|
346250 |
|
Aatif Khan |
|
1 |
|
Haifaa Khan |
|
1 |
|
Phiroz Mansuri |
|
1 |
|
Aarif Khan |
|
415500 |
|
Manisha Hemant Anavkar |
|
346250 |
|
|
|
|
|
TOTAL |
|
2770000 |
As on 28.02.2012
|
Names of Allottee |
|
No. of Shares |
|
|
|
|
|
Acaciaa International Tr. LLC |
|
15890 |
|
|
|
|
|
TOTAL |
|
15890 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of clean room equipments, pre – fabricated panels and
injectable lines. |
PRODUCTION STATUS AS ON 31.03.2009
|
Particulars |
Unit |
|
|
Installed
Capacity |
|
Modular Panel |
Sq mtr |
|
|
100000 |
GENERAL INFORMATION
|
Customers : |
Domestic Hospitals · Lilavati Hospital, Mumbai · Breach Candy Hospital, Mumbai · Sadhu Vasvani Hospital, Pune · Mahavir Cardiac Hospital, Surat · Eye Specialty Clinic, Ghatkopar (Thane) Ac and R
Consultants and Contractors · Blue Star Limited · Asean Brown Broveri Limited (Abb), New Delhi · Suvidha Engineers, Ahmedabad · Vilshom Engineers Private Limited, Thane · Voltas Ltd., Mumbai Recent Achievements · Bhabha Atomic Research Centre (BARC) · Board Of Radiation And Isotope Technology (BRIT - BARC) · Vishakhapattnam Steel Plant Pharmaceuticals · Cadila Healthcare, Ahmedabad · Chitra Engineers, Ahmedabad · Chiron Behring And Vaccines Limited, Ahmedabad · Colorcon Asia Private Limited, Goa · Cipla Limited, Daman and Goa · Dr. Reddy’s Laboratories, Hyderabad · Finochem, Aurangabad ·
Fresinius Kabi Limited, Pune · Shreya Life Sciences, Aurangabad · Srushti Pharmaceuticals Private Limited, Bangalore · Strides Arcolab Ltd, Bangalore. · Torrent Pharmaceuticals Limited, Ahmedabad ·
Ucb India Limited, Vapi International · Arab Pesticides And Veterinary, Jordan · Arafeh Trading Co, Syria · Arak Labs, Syria · Aristo Pharmaceuticals, Bangladesh · Asia Pharmaceutical Lab, Syria · Asia Pharmaceuticals Lab, Syria · Avicenna Darou, Iran · Avicenna Labs, Syria · Avico, Jordan · Bakhtar Bioshimi, Iran · Barakat Labs, Syria · Barij, Iran · Batterjee Pharma, Saudi Arabia · Beximco Pharmaceuticals, Bangladesh · Bio Pharma, Egypt · Captive, Pakistan · Cellofarm Pharmaceuticals, Brazil · Cipla Ltd, Bangladesh · Citi Pharma, Syria ·
Cosar Pharmaceutical, Iran · Ram Pharma, Jordan · Rawaj Commercial Corp, Jordan · Rawaj Commercial Corporation, Iraq · Razak Laboratories,Iran · Remedia - Srl · Renata Ltd, Bangladesh · Riva Pharma, Egypt · Riyadh Pharma, Saudi Arabia · Rouz Darou, Iran · S. W.Hart Co., Australia · Sadjad Dorou, Iran · Samesh Pharma, Iran · Sami Pharmaceuticals, Pakistan · Sanamed, Algeria · Sargavi Vifetech, Russia · Seol Darou, Iran · Sharhe Sadre Co.Limited, Iran ·
Sharma Pharma, Syria |
|||||||||
|
|
|
|||||||||
|
No. of Employees : |
Information denied by Management. |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
Axis Bank Limited, Trishul 3rd Floor, Opposite
Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380 006, Gujarat,
India ·
Union Bank of India, Vile Parle (West) Branch, 11
Vithal Nagar Co., Operative Housing Society, 10th Road, Mumbai –
400 049, Maharashtra, India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
NOTES: (a) Security for item no. 1 Secured by lien
on fixed deposits of Rs. 10,000,000 (b) Security for item nos. 2, 4 and 5 Secured by first
charge on a pari-passu basis on the Company's stocks, book debts and other
movable assets both existing as well as future and a first charge by way of
mortgage of the Company's factory premises at Vasai and the factory premises
of Mis Airpac exports (a firm in which directors of the company are partners)
at Umergaon. (c) Security for item no. 3 ·
Secured by first charge on a pari-passu basis on
the Company's stocks, book debts and other movable assets both existing as
weIl as future; ·
Secured by first charge by way of mortgage of
office premises at [anki Centre, Andheri and second charge by way of mortgage
of factory premises at Umergoan, both premises owned by Mis Airpac exports (a
finn in which directors of the company are partners); and also secured by
guarantee given by the aforesaid finn; and ·
Secured by personal guarantees of three directors
of the Company (d) Security for item no. 6 Secured by hypothecation of vehicles acquired under said loans. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Heritage, 3rd Floor, Near Gujarat Vidyapeth, Off |
|
Tel. No.: |
91-79-27582542/27582543 |
|
Fax No.: |
91-79-27582551 |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Associates/Subsidiaries : |
·
Fabtech Containment Technologies (India) Private
Limited, India [CIN No.: U28999MH2010PTC199847] ·
Fabtech Technologies (FZC) Sharjah ·
Fabtech Sterling Building Technologies Private
Limited, India [CIN No.: U45203MH2010PTC201045] ·
Firox Technologies Private Limited, India [CIN
No.: U28999MH2010PTC199847] |
|
|
|
|
Joint Venture
Entity : |
·
Fabtech Silisbuild Sysrerns LLP |
|
|
|
|
Companies I Firms
in which directors have significant influence: |
·
Airpac Exports ·
“T”- Square Enterprises Private Limited, India ·
Zenzero Entertainment Private Limited,
India(Formerly known as Cepne Multimedia Private Limited, India Limited) ·
Fab Entertainment Private Limited, India |
CAPITAL STRUCTURE
As on 31.03.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2770000 |
Equity Shares |
Rs. 10/- each |
Rs. 27.700
millions |
|
|
|
|
|
After 28.09.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2785890 |
Equity Shares |
Rs. 10/- each |
Rs. 27.859 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 |
27.700 |
27.700 |
27.700 |
|
|
2] Share Application Money |
8.836 |
8.836 |
8.836 |
|
|
3] Reserves & Surplus |
251.483 |
156.581 |
59.687 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
288.019 |
193.117 |
96.223 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
51.457 |
64.962 |
88.694 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
51.457 |
64.962 |
88.694 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
339.476 |
258.079 |
184.917 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
76.864 |
66.405 |
47.512 |
|
|
Capital work-in-progress |
0.867 |
9.973 |
10.701 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.417 |
1.805 |
1.453 |
|
|
DEFERREX TAX ASSETS |
1.901 |
1.625 |
0.053 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
122.885
|
80.249
|
62.836 |
|
|
Sundry Debtors |
306.945
|
263.891
|
174.531 |
|
|
Cash & Bank Balances |
118.473
|
74.419
|
80.817 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
82.887
|
46.536
|
51.903 |
|
Total
Current Assets |
631.190
|
465.095
|
370.087 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
187.215 |
122.877 |
77.420 |
|
|
Other Current Liabilities |
170.963
|
130.658
|
156.957 |
|
|
Provisions |
17.585
|
33.289
|
10.815 |
|
Total
Current Liabilities |
375.763
|
286.824
|
245.192 |
|
|
Net Current Assets |
255.427
|
178.271
|
124.895 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.303 |
|
|
|
|
|
|
|
|
TOTAL |
339.476 |
258.079 |
184.917 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
728.173 |
657.194 |
444.413 |
|
|
|
Other Income |
21.930 |
16.750 |
4.320 |
|
|
|
TOTAL (A) |
750.103 |
673.944 |
448.733 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Finished / Traded goods |
194.563 |
58.625 |
26.996 |
|
|
|
Raw Materials consumed |
188.464 |
267.657 |
213.333 |
|
|
|
Manufacturing and other expenses |
29.975 |
27.484 |
17.873 |
|
|
|
Personnel Expenses |
76.139 |
54.248 |
38.111 |
|
|
|
Selling and Distribution Expenses |
45.256 |
40.082 |
28.407 |
|
|
|
Administrative and General Expenses |
63.328 |
58.794 |
58.166 |
|
|
|
Variation In Stock |
(19.119) |
(1.481) |
0.475 |
|
|
|
TOTAL (B) |
578.606 |
505.409 |
383.361 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
171.497 |
168.535 |
65.372 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.674 |
11.568 |
6.651 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
157.823 |
156.967 |
58.721 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.897 |
9.085 |
7.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
145.926 |
147.823 |
51.610 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
51.023 |
50.929 |
24.542 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
94.903 |
96.894 |
27.068 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
156.581 |
59.687 |
32.618 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
251.484 |
156.581 |
59.687 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
377.848 |
220.721 |
85.496 |
|
|
TOTAL EARNINGS |
377.848 |
220.721 |
85.496 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
48.083 |
65.535 |
40.538 |
|
|
|
Capital Goods |
72.226 |
1.078 |
9.211 |
|
|
|
Finished Goods |
2.356 |
27.522 |
5.918 |
|
|
TOTAL IMPORTS |
122.665 |
94.135 |
55.667 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
34.26 |
34.98 |
9.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
12.65
|
14.37
|
6.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.04
|
22.49
|
11.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.60
|
27.81
|
12.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.76
|
0.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.48
|
1.82
|
3.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.62
|
1.50 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Micro enterprises and medium enterprises |
3.229 |
2.248 |
1.041 |
|
Others |
183.986 |
120.629 |
76.379 |
|
|
|
|
|
|
TOTAL |
187.215 |
122.876 |
77.420 |
|
Sr. No. |
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 |
Yes |
|
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 |
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
Business
Review
The
company has emerged as a turnkey solution provider to pharmaceutical and
biotech industry in its way of simplification of complex problems. Turnkey projects
could be the most viable solutions to the co‐ordination
challenges of the developing world. This concept is highly efficient in time
and cost for the customers and stakeholders.
Looking into the
demand of allied products, the company has introduced a qualified team for
commissioning of HVAC products for a turnkey project and will concurrently
continue creating visibility in other sectors in India and international
markets.
Subsidiaries
·
Company has disinvested the holding of 75% in Fab
Entertainment Private Limited on 27th September, 2010, which was
incorporated on 26th March, 2010 by the Company.
·
Fabtech Sterling Building Technologies Private
Limited has not started its operation and expecting to start the operation and
revenue generation in the coming year.
CONTINGENT
LIABILITIES
Contingent
liabilities not provided for:
(Rs. in millions)
|
Particulars |
31.03.2011 |
|
Guarantee to a bank for bank overdraft facility extended to a
subsidiary company |
4.000 |
|
Claims not acknowledged as debts |
0.258 |
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24230MH1995PLC094603 |
|
Name of the
company |
FABTECH
TECHNOLOGIES INTERNATIONAL LIMITED |
|
Address of the registered
office or of the principal place of
business in |
717 Janki Centre, off Veera Desai Road, Andheri West, Mumbai -
400053, Maharashtra, India E-mail: cs@fabtecheng.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10273808 |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Axis Bank Limited, Trishul 3rd Floor, Opposite Samartheshwar
Temple, Law Garden Ellisbridge, Ahmedabad – 380 006, Gujarat, India e-mail: sanjay.tendulkar@axisbank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation |
|
Date of
instrument Creating the charge |
04.09.2012 |
|
Amount secured by
the charge |
Rs. 250.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash credit: base
rate+ 3.50%p.a. i.e. 13.50% p.a. payable at monthly rests. Terms of Repayment Cash credit: One
year EPC/PSC: One year Bank guarantee (
with CC):Max 326 months( including claim period) LC: one year Margin Margin: raw materials,
stock in process, finished goods: 25% Bookdebts (upto 120 days): 25% EPC/PSC:10% EBRD: Nil Bank
guarantee:15%(100% on disputed liability) LC: 15% Extent and Operation of the charge Cash credit: Rs 100.000
millions , EPC/PSC/PCFC/PSCF 9 within CC): Rs 100.000 millions BG( within funded
working capital): (Rs 200.000 Millions), Total Funded
limit: Rs 200.000 millions LC/SBLC: Rs
50.000 millions, LER limit sub limit to CC: (Rs 20.000 millions) Non funded
limits: Rs 50.000 millions Total Rs 250.000
millions One way
interchangeability from cash credit to EPC/ PSX limit in allowed to the
extent of Rs 40.000 millions. One way interchangeability from EPC/PSC limit
to CC limit is allowed to the extent of Rs 20.000 millions. Others EPC: upto 180
days: BR+2% i.e.12%p.a.above 180 days upto 270 days: BR+3%i.e.13%p.a. above
270 days upto 360 days: Base rate+ 4.25% i.e. 14.25%p.a. overdue PC: base
rate+ 6.5% i.e. 16.5%p.a. or CC rate + 4% whichever is higher PSC; demand
bills/ usance bills upto 90 days from date of shipment: Base rate 2% i.e.12%
pa Usance bill above 90 days but upto 180 days, from date of shipment: base
rate+ 2% i.e. 12 %p.a. Overdue export bills : BR + 6.25%i.e. 16.25%p.a. or CC
rate+ 4%p.a. whichever is higher |
|
Short particulars
of the property charged |
Hypothecation of
entire current assets of the company All tangible movable machinery, plant
machinery, fixtures, fittings other installation crane, furniture , computers
and other accessories vehicle together
with spares tools and accessories and all other articles lying on the
premises or in the godowns of the borrower or in custody of any person who
are mercantile agents of the borrower or in the course of transit which may hereinafter
be brought stored or be lying or upon the said premises of the borrower. The
whole of the borrowers movable goods and assets both present and future and
including all stocks of raw material work in progress semi finished goods and
finished goods, packing materials, consumable stores and spares whatsoever
situate and or transit whether now belonging to or that may at any time
during the continuance of this security belong to the borrower. All the
present and future book debts, outstanding monies, receivables, claims bills,
contracts, engagements and securities |
|
Particulars of
the present modification |
The total limit
is enhanced from Rs 140.000 millions to Rs 250.000 millions.(Cash credit: Rs
100.000 millions , EPC/PSC/PCFC/PSCF 9 within CC): Rs 100.000 millions, BG(
within funded working capital): (Rs 200.000 Millions),Total Funded limit: Rs
200.000 millions, LC/SBLC: Rs 50.000 millions, LER limit sub limit to CC: (Rs
20.000 millions) Non funded
limits: Rs 50.000 millions) |
PROFILE
· FABTECH TECHNOLOGIES Established in 1999, Fabtech is a hi-tech enginnering and infrastructure company designing and offering innovative building (so far internal construction) and containment solutions to pharma and biotech industry.
· Company has a mission to make things simple (technology development for simplifying things is not easy), company has introduced revolutionary yet simple solutions to the industry, which is developed and manufactured in-house in state of art manufacturing facilities over the last eight years.
· It is one of the leading manufacturer of pre-engineered, pre-fabricated modular partitions/panels and doors for building infrastructure. Recently diversified into manufacturing of value engineered and economical internal panels, sold under brand ‘Fabtec Lite’ for non-pharma end markets.
· The Company also designs, fabricates, integrates, installs and services highly technical custom built Isolation/Containment Systems for pharmaceutical and biotech industry and is preparing for nuclear applications.
Modular inner construction for pharma and non pharma application (replacing brick and mortar) and containment solutions for hi-tech drug production i.e. cytotoxics, nuclear medicine, biomedicines (import substitute) are the products, company has successfully introduced in the market against stiff mindset.
In order to broaden its revenue base, company plans to undertake construction of outer boxes along with inner construction (beginning with pharma and biotech sector), It has entered into a technical joint venture with Philippines based Sterling Construction and Developments Pvt. Ltd. to manufacture its patented building system “Plaswall” which is hugely successful in Australia, Philippines and Qatar.
Company has a strong presence in the overseas markets such as Middle East, Afro-Arab, Ukraine etc, by providing complete turnkey solutions to its customers. The company has recently tied up with panel manufacturers in US and Europe to expand geographical reach.
Export revenues estimated to account for ~33% of total revenue in FY09.
Company has a total employee strength of 308 people including strong engineering and design team of about 32 engineers.
The Company has following certification and approval for its modular panels:
Only company in India to have Part 22 Warrington Fire certificate.
Only company in India to have BRI, Portugal certification.
Approved vendor by Defense.
Key customers includes reputed companies like PFIZER, RANBAXY, AUROBINDO, RELIANCE, LUPIN, STRIDES, among others in pharma and BOSCH, VOLKSWAGEN, COLGATE for non pharma.
Furthermore in a short period of time, the Company has been able to successfully acquire some large customers such as Sandoz, Strides, Dr Reddy’s, Panacea Biotech, Ranbaxy, etc for both its Isolation systems and modular panels for non-pharma.
To penetrate the developed markets like Europe and US, the Company is entering into several marketing alliances with various panel and equipment manufacturing companies to sell and promote each other products in the respective geographies.
FIXED ASSETS
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 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.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
7 |
|
--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.