MIRA INFORM REPORT
|
Report Date : |
08.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CPS COLOR INDIA PRIVATE LIMITED (w.e.f. 07.10.2004) |
|
|
|
|
Formerly Known
As : |
COROB INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
158, Dani Wooltex Compound, Vidyanagri Marg, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.02.1998 |
|
|
|
|
Com. Reg. No.: |
11-113726 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.437.096 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29290MH1998PTC113726 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Tinting and Dispensing Machines, Shakers /
Mixers Machines and Colorants |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company has performed well and wipe out its accumulated loss in the year
2012. The financial position of the company is improving. Trade relations
are reported to be fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for business dealings with some
caution. |
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Manoj |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-66497777 |
|
Date : |
05.04.2013 |
LOCATIONS
|
Registered Office / Factory / Branch Office 1 : |
158, Dani Wooltex Compound, Vidyanagri Marg, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-66497777 |
|
Fax No.: |
91-22-66497700 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Leased |
|
|
|
|
Head Office / Branch Office 2: |
Plot No. 10 - 13 and 13 A, Daman Industrial Estate,
Somnath Road, |
|
Location : |
Owned |
|
|
|
|
Other Branch
Office : |
Located at
|
DIRECTORS
As on: 31.12.2012
|
Name : |
Mr. Timo Tapani Linna |
|
Designation : |
Director |
|
Address : |
Runeberginkatu 4c B 31 Helsinki 28400, Finland |
|
Date of Birth/Age : |
12.03.1956 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
01342559 |
|
|
|
|
Name : |
Mr. Nasser Arivoli |
|
Designation : |
Managing Director |
|
Address : |
D-1-3-2, Millenium Towers, Sector - 9, Sanpada, New Mumbai – 400705, Maharashtra, India |
|
Date of Birth/Age : |
28.01.1967 |
|
Date of Appointment : |
22.10.2012 |
|
DIN No.: |
06427148 |
|
|
|
|
Name : |
Mr. Nils Henrik Lif |
|
Designation : |
Director |
|
Address : |
Vartavagen 8A, 183 63, Taby, Sweden |
|
Date of Appointment : |
15.02.2011 |
|
DIN No.: |
03411847 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
CPS Color Equipment SPA, |
|
43709599 |
|
CPS Machine Group of Finland, Finland |
|
1 |
|
|
|
|
|
Total |
|
43709600 |
Equity Share Break up (Percentage of Total Equity)
As on: 31.12.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Tinting and Dispensing Machines, Shakers / Mixers
Machines and Colorants. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Tinting and Dispensing Machines and Shaker/ Mixer Machines |
Nos. |
NA |
28000 |
6524 |
|
Canister Circuits |
Nos. |
NA |
7272 |
|
|
Upgradation Kit |
Nos. |
NA |
24654 |
Note: * As certified by the Management.
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apolla Mills Compound, N M Joshi Marg, Mahalakshmi, Mumbai - 400011, Maharashtra, India |
|
PAN No.: |
AAIFB7357B |
|
|
|
|
Holding Company : |
CPS Color Equipment S.P.A |
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|
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|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43709600 |
Equity Shares |
Rs.10/- each |
Rs.437.096 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
437.096 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.328 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(12.422) |
(21.756) |
|
|
NETWORTH |
443.424 |
2.578 |
(6.756) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
8.887 |
51.676 |
51.208 |
|
|
TOTAL BORROWING |
8.887 |
51.676 |
51.208 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
452.311 |
54.254 |
44.452 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
110.987 |
74.775 |
75.933 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.378 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
198.755 |
277.625 |
179.252 |
|
|
Sundry Debtors |
289.739 |
291.082 |
254.847 |
|
|
Cash & Bank Balances |
82.860 |
56.592 |
68.461 |
|
|
Other Current Assets |
9.575 |
1.498 |
0.120 |
|
|
Loans & Advances |
181.867 |
137.854 |
113.774 |
|
Total
Current Assets |
762.796 |
764.651 |
616.454 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
370.197 |
745.799 |
634.488 |
|
|
Other Current Liabilities |
14.561 |
18.201 |
4.897 |
|
|
Provisions |
36.714 |
21.172 |
8.928 |
|
Total
Current Liabilities |
421.472 |
785.172 |
648.313 |
|
|
Net Current Assets |
341.324 |
(20.521) |
(31.859) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
452.311 |
54.254 |
44.452 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
938.937 |
989.560 |
726.306 |
|
|
|
Service Income |
121.809 |
90.305 |
14.208 |
|
|
|
Other Income |
19.629 |
8.884 |
34.453 |
|
|
|
TOTAL (A) |
1080.375 |
1088.749 |
774.967 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Trading and other direct expenses |
|
|
615.482 |
|
|
|
Administrative and other Expenses |
|
|
160.767 |
|
|
|
TOTAL (B) |
1047.612 (Including
Financial Expenses and Exceptional Item) |
1065.891 (Including
Financial Expenses) |
776.249 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(1.282) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
7.456 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
32.763 |
22.858 |
(8.738) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.156 |
13.325 |
12.933 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F)
(G) |
24.607 |
9.533 |
(21.671) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.857 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
18.750 |
9.533 |
(21.671) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(12.223) |
(21.756) |
(0.085) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
6.527 |
(12.223) |
(21.756) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
638.701 |
698.796 |
498.288 |
|
|
|
Service Income |
35.246 |
23.834 |
0.000 |
|
|
TOTAL EARNINGS |
673.947 |
722.630 |
498.288 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials/components |
NA |
197.820 |
191.530 |
|
|
|
Machinery for trading |
NA |
6.030 |
3.196 |
|
|
|
Colorants |
NA |
19.610 |
11.797 |
|
|
|
Capital Goods |
NA |
0.688 |
2.021 |
|
|
TOTAL IMPORTS |
NA |
224.148 |
208.544 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.43 |
6.36 |
(14.00) |
|
%2008-Apr-2013_files/image001.gif){kind=small}
%2008-Apr-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.74 |
0.88 |
(2.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.62 |
0.96 |
(2.98) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.82 |
1.13 |
(3.13) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
3.70 |
3.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
20.04 |
(7.58) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
0.97 |
0.95 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
370.197 |
745.799 |
634.488 |
|
|
|
|
|
|
Total |
370.197 |
745.799 |
634.488 |
|
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 |
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) |
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 |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Loans Repayable on Demand from Others |
8.887 |
51.676 |
|
|
|
|
|
Total |
8.887 |
51.676 |
BACKGROUND
Subject earlier known as Corob India Private Limited (‘CPS’ or ‘the Company’) is a subsidiary of CPS Color Equipment S.p.A (formerly Corob S.p.A.), Italy setup in terms of FIPB approval bearing Ref. FC.II. 152(98)/111(98) dated April 7, 1998, and subsequent amendment dated August 4, 1998, March 26, 1999 and July 6, 2004.
The Company is engaged in the manufacture and sale of automatic tinting and dispensing machines and shaker mixers and trading in shaker mixers and colorants, at its factory located at Daman. The Company is also engaged in the business of servicing automatic tinting and dispensing machines and shaker mixers. These machines are widely used for dispensing of colours in the paint industry.
CONTINGENT
LIABILITY
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Outstanding financial bank guarantees |
0.000 |
0.200 |
|
Estimated sales tax liability in case of non-collection / non-submission of sales tax forms for availing concessional sales tax is to the extent |
7.163 |
5.877 |
FIXED ASSETS
- Leasehold Land
- Leasehold Improvement
- Buildings
- Plant and Machinery
- Electric Installation
- Office Equipments
- Furniture and Fixtures
- Vehicles
- Computers
AS PER WEBSITE DETAILS:
Press Release
INNOVATINT: BETTER
CONTROL OF TINTING MARKET INFORMATION
Vantaa/Nuremberg, 19 March 2013. CPS Color’s new tinting software puts paint
manufacturers and retailers ahead of the market by providing them with
real-time market information and sales statistics. COROB™InnovaTint is a
comprehensive and yet easy to handle software that enables paint companies to
manage information throughout the entire retail network. The software includes
an unlimited database for color formulas and customer orders, which makes it
easy for retailers to serve their clients individually.
Today’s challenge for paint manufacturers is
to quickly respond to changing market trends and predict sales and stock
volumes. To do so cost-effectively, they need real-time sales data from the
stores. CPS Color’s COROB InnovaTint software was especially developed to
fulfill these requirements.
COROB InnovaTint makes it easy for paint
manufacturers to adjust production and warehousing quantities. The system also
generates data on product performance and provides information on upcoming
tinting trends and changes in market demands. With COROB InnovaTint, paint
manufacturers and retailers can adapt their business strategies and update
information such as product properties, color formulas or price across the
whole company network.
The perfect fit for point-of-sale tinting
With its unlimited storage database for color
formulas and customer orders, COROB InnovaTint offers a new tinting
flexibility. New orders can be recorded at any time, even during the tinting
process, and carried out at a later point. The integrated software adds to
tinting efficiency and accuracy. Customers’ re-orders can be handled or
modified simply by repeating or updating the memorized order within the system.
COROB InnovaTint’s highly optimized graphical
user interface improves productivity at the stores and guarantees easy handling
of the tinting process. It provides information at a glance and intuitively
guides operators through the tinting process. The user-friendly graphical
interface enables flexible color and product search all on one page, without
distracting pop-ups. While color formulas are calculated automatically, color
shades can be manually adapted with a slide function directly on the screen.
InnovaTint can be run without any keyboard, just with the barcode reader, thus
eliminating human mistakes.
COROB InnovaTint software is optimized for CPS
Color tinting equipment. The Point of sale software is available in four
different versions: basic, professional, ultimate limited and ultimate.
Similarly the management software is offered in various versions each to match
the need.
About CPS Color
Headquartered in Vantaa, Finland, CPS Color is
the world’s leading supplier of integrated tinting solutions for the global
paints and coatings industry. CPS Color offers complete tinting solutions:
CPSCOLOR TM colorants (liquid pigments), COROB TM dispensing and mixing/shaking
equipment, software, color marketing tools, customer support and service. CPS
Color Group has a global organization employing 900 color professionals with
operations on six continents. The Group's 2011 turnover amounted to 198 million
Euros. CPS Color is owned by Nordic Capital Fund VI
CPS COLOR LAUNCHES NEW MODULAR DISPENSER COROB EVOFLX
Vantaa/Nuremberg, 19 March 2013. CPS Color, owner of the expert tinting
equipment brand COROB™, has launched a new medium-performance automatic dispenser
based on a modular principle. EVOFLX™ is extremely easy to operate, maintain
and handle, and offers great flexibility for users. Aimed at professional
shops, independent stores and DIY environments, COROB EVOFLX is suitable for
decorative, architectural and industrial applications. EVOFLX is the first of a
new range of modular machines to be released in the coming years.
Paint manufacturers throughout the world
expect their tinting equipment to work reliably and accurately at all times,
irrespective of the types or makes of colorants they use. COROB EVOFLX answers
this need with its modular configuration. Its component parts can be set up,
modified and updated to ensure perfect compatibility between colorant and
machine throughout the lifecycle of the dispenser. Such actions include
changing or updating pump types, canisters, shelves and machine performances.
The development of COROB EVOFLX has been based
on three guiding principles: exclusive experience, value innovation and optimal
efficiency.
Exclusive experience: flexible design
When developing COROB EVOFLX, CPS Color’s
engineers collected clients’ input throughout the world to design a flexible
and yet simple dispenser that fits individual requirements. Thanks to its
modular design, COROB EVOFLX can be equipped with either bellow or piston
pumps, or both on the same platform. The dispenser comes in three different
frame sizes and layouts that house up to 18, 24 or 32 canisters of different
sizes. Users can select individual stirring times for the canisters and select
recirculation possibilities. At the same time, the “click-in-place” canister
holders require few tools, making interventions such as canister removal quick
and easy.
Value innovation: new features of EVOFLX
The “integrated nozzle valve” is at the heart
of the new dispenser. It is an advanced dispensing nozzle system that closes
the distance between the nozzle and the controlling valve. It is built to
prevent any contact of the colorant with air, which solves the common problem
of drying. The valve works with compressed air that controls opening and
closing the nozzle and channels any unused colorant back to the canister.
Replacing the turntable system with a central nozzle makes the machine much
faster.
Simultaneous on-demand performance allows the
handling of each formulation with fastest possible response time. Users can
select the dispense performances they require including a “double pump” option
that reaches up to 0.6 l/min without compromising accuracy. The new pedal
puncher is a low resistance system with enhanced ergonomics that makes the
dispenser convenient and easy to operate. The integrated computer allows full
control over the PC content and full dedication to the dispenser tinting
process.
Optimal efficiency: environmental care and low TCO
New technology must ultimately perform in the
field, which is why the development has been driven from the end user’s point
of view. The new 5G control system, for example, reduces the time needed for
many typical operations, from installation to routine updates. Configurations
can be preset in the factory, avoiding individual set-up of each machine at
store level.
The dispenser is very easy to operate and to
maintain. Clear and extensive system feedback messages make understanding the
actions and commands intuitive. Front-end, easy to reach controls allow quick
interventions, without the need for specific tools. The modular design requires
fewer spare parts, which reduces stock keeping. Reliable devices increase color
accuracy and reduce breakdowns, while an optimized pump and device control
management system only uses energy when it is necessary. As a result, COROB™
technology creates a lean and hassle-free tinting experience while reducing
waste and the impact on natural resources and the environment.
Future EVO models expected in 2014
COROB EVOFLX is the first product of a new
line of point-of-sale dispensers that will gradually replace previous COROB
machines. CPS Color is developing further higher performance dispensers in the
same product line that are set to enter the market in 2014. These units will be
tailored to better fit the needs of higher productivity paint trade centers,
professional stores with high tinted volumes, or simply where another type of machine
frame layout is required.
COROB EVOFLX is part of CPS Color’s integrated
tinting solutions. As a supplier of complete tinting systems, CPS Color offers
high-quality equipment, software and colorants that smoothly interact to
achieve reliable tinting results. Integrated tinting systems ensure perfectly
matched tinting components and a smooth tinting process with best quality
tinting products.
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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
VRN/ BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.