MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
DISA INDIA LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Kushal Garden Arcade, 1A, Peenya Industrial
Area, Peenya 2nd Phase, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
25.05.1984 |
|
|
|
|
Com. Reg. No.: |
08-006116 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.102 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L85110KA1984PLC006116 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of Foundry Machinery like Moulding Plants, Sand Plants
and Shot Blasting Machines. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track record. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regular and as per
commitment. The company can be considered good for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office / Corporate Office : |
5th Floor, Kushal Garden Arcade, 1A, Peenya Industrial
Area, Peenya 2nd Phase, Bangalore – 560058, Karnataka, India |
|
Tel. No.: |
91-80-40201400 to 04 |
|
Fax No.: |
91-80-28391661 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
No. 28-32, Satyamangala Industrial Area, Tumkur – 572104, Karnataka, India |
|
Tel. No.: |
91-816-2211290 / 2211291 |
|
|
|
|
Factory 2 : |
Plot No.50, KIADB Industrial Area, Hosakote – 562114, Karnataka, India |
|
Tel. No.: |
91-80-27971310 / 27971516 |
|
|
|
|
Sales Office : |
Located at ·
New Delhi ·
Pune ·
Kolkata ·
Bangalore |
DIRECTORS
As on 31.12.2011
|
Name : |
Mr. Jan Johansen |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Deepa Hingorani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjay Arte |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Viraj Naidu |
|
Designation : |
Managing Director |
KEY EXECUTIVES
|
Name : |
Mr. S Mohan |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1132653 |
75.00 |
|
|
1132653 |
75.00 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
1132653 |
75.00 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
200242 |
13.26 |
|
|
200242 |
13.26 |
|
|
|
|
|
|
9221 |
0.61 |
|
|
|
|
|
|
164384 |
10.88 |
|
|
3705 |
0.25 |
|
|
563 |
0.04 |
|
|
3102 |
0.21 |
|
Trusts |
40 |
0.00 |
|
|
177310 |
11.74 |
|
Total Public
shareholding (B) |
377552 |
25.00 |
|
Total (A)+(B) |
1510205 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
1510205 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Foundry Machinery like Moulding Plants, Sand Plants
and Shot Blasting Machines. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS
As on 31.12.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Foundry Moulding Shot Blasting Machine |
Nos. |
Not Available |
Not Available |
198 |
|
Mould handling system, Shot Blasting system, Sand conditioning plant, Sand Mixers/Slingers Special purpose material handling equipment |
Nos. |
Not Available |
Not Available |
* |
|
Dust Collectors |
Nos. |
Not Available |
Not Available |
133 |
|
|
|
|
|
|
Note:
*consist of systems/projects. Hence not quantified.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· Canara Bank · HDFC Bank Limited ·
Kotak Mahindra Bank Limited |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.K. Dandeker and Company Chartered Accountants |
|
Address : |
Chennai, Tamilnadu, India |
|
|
|
|
Solicitors : |
|
|
Name : |
Chander Kumar and Associates |
|
Address : |
Bangalore, Karnataka, India |
|
|
|
|
Group Companies
: |
· Norican Holdings ApS (Denmark) · Norican Group ApS (Denmark) · DISA Holding A/S (Denmark) · DISA Holding II A/S (Denmark) · DISA Holding AG (Switzerland) · DISA Holding LLC (Michigan USA) · DISA Industries A/S (Denmark) · DISA Industries AG( Switzerland) · DISA Industries, Inc. (Illinois, USA) · DISA Industries s.r.o. (Czech Republic) · DISA K K (Japan) · DISA Machinery Limited (China) · DISA Trading (Shanghai) Co Limited (China) · DISA Technologies Private Limited (India) · WGH Holding Corp. (BVI) · WG Global LLC (Delaware, USA) · Wheelabrator Group, Inc. (Delaware, USA) · Wheelabrator Group (Canada) Limited, (Canada) · Castalloy, Inc. (Delaware, USA) · WGH UK Holdings Limited (UK) · WGH UK Limited (UK) · Wheelabrator Technologies (UK) Limited (UK) · Wheelabrator Group SLU (Spain) · Wheelabrator Group Holding GmbH (Germany) · Wheelabrator Group GmbH (Germany) · Wheelabrator Group SAS (France) · Matrasur Composites SAS (France) · Wheelabrator Group Limited (UK) ·
WG Plus de Mexico S de RL de CV (Mexico) |
CAPITAL STRUCTURE
As on 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1510205 |
Equity Shares |
Rs.10/- each |
Rs.15.102
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
15.102 |
15.102 |
15.102 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
416.385 |
540.767 |
389.737 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
431.487 |
555.869 |
404.839 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.035 |
1.063 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
3.863 |
|
|
TOTAL BORROWING |
0.000 |
0.035 |
4.926 |
|
|
DEFERRED TAX LIABILITIES |
2.927 |
2.146 |
3.135 |
|
|
|
|
|
|
|
|
TOTAL |
434.414 |
558.050 |
412.900 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
170.220 |
121.691 |
122.654 |
|
|
Capital work-in-progress |
32.486 |
10.127 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
288.957
|
181.457 |
110.221 |
|
|
Sundry Debtors |
80.966
|
132.629 |
49.314 |
|
|
Cash & Bank Balances |
599.064
|
465.159 |
329.783 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
118.882
|
70.677 |
40.821 |
|
Total
Current Assets |
1087.869
|
849.922 |
530.139 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
211.453
|
190.533 |
76.690 |
|
|
Other Current Liabilities |
257.347
|
212.427 |
144.344 |
|
|
Provisions |
387.361
|
20.730 |
18.859 |
|
Total
Current Liabilities |
856.161
|
423.690 |
239.893 |
|
|
Net Current Assets |
231.708
|
426.232 |
290.246 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
434.414 |
558.050 |
412.900 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1539.853 |
1076.365 |
712.929 |
|
|
|
Other Income |
52.706 |
41.542 |
28.634 |
|
|
|
TOTAL (A) |
1592.559 |
1117.907 |
741.563 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Others Expenses |
1222.887 |
866.612 |
566.358 |
|
|
|
TOTAL (B) |
1222.887 |
866.612 |
566.358 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
369.672 |
215.295 |
175.205 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.525 |
0.332 |
2.416 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
369.147 |
250.963 |
172.789 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.935 |
18.009 |
19.941 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
347.212 |
232.954 |
152.848 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
120.554 |
81.924 |
54.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
226.658 |
151.030 |
98.623 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
385.453 |
234.423 |
135.800 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
59.602 |
0.000 |
0.000 |
|
|
|
Dividend |
302.041 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
48.999 |
0.000 |
0.000 |
|
|
BALANCE CARRIED TO
THE B/S |
201.469 |
385.453 |
234.423 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Agency Commission/Others |
17.961 |
2.178 |
6.221 |
|
|
|
Exports / Advances |
142.374 |
108.967 |
24.259 |
|
|
TOTAL EARNINGS |
160.335 |
111.145 |
30.480 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
38.738 |
33.171 |
7.984 |
|
|
|
Components and spare parts |
82.454 |
43.624 |
15.687 |
|
|
|
Traded Goods |
18.738 |
0.000 |
0.000 |
|
|
|
Capital Goods |
17.032 |
0.000 |
0.960 |
|
|
|
Others |
0.000 |
0.000 |
0.168 |
|
|
TOTAL IMPORTS |
156.962 |
76.795 |
24.799 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
150.08 |
100.01 |
|
|
QUARTERLY RESULTS
|
PARTICULARS |
31.03.2012 |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
271.400 |
298.400 |
272.300 |
675.500 |
|
Total Expenditure |
247.800 |
255.700 |
234.600 |
510.500 |
|
PBIDT |
23.600 |
42.700 |
37.700 |
165.000 |
|
Other Income |
17.900 |
03.900 |
07.600 |
06.800 |
|
Operating Profit |
41.500 |
46.600 |
45.200 |
171.800 |
|
Interest |
00.100 |
00.200 |
00.100 |
00.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
41.400 |
46.400 |
45.200 |
171.700 |
|
Depreciation |
06.900 |
08.100 |
08.400 |
08.600 |
|
Profit Before Tax |
34.400 |
38.300 |
36.700 |
163.100 |
|
Tax |
09.500 |
14.700 |
12.000 |
47.900 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
24.900 |
23.600 |
24.700 |
115.200 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
24.900 |
23.600 |
24.700 |
115.200 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
14.23 |
13.51 |
13.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
22.55 |
21.64 |
21.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.60 |
23.98 |
23.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.80 |
0.42 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27 |
2.01 |
2.21 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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) |
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 |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
PERFORMANCE OF THE
COMPANY
The sharp recovery of the Indian Industry since the last quarter Y2009, kept
accelerating and almost peaked till the mid of Y2011. This led to a record
order intake of about Rs.1500.000 Millions by the Company during Y2011. The
Company was also able to scale up its operations substantially to meet with
this high demand successfully.
Year-on-year Sales rose by 43%, while PBT rose by 49%. High Inflation -
both Materials and Salaries - has been a challenge for all Indian companies in
Y2011, but the Company was able to offset the inflation impact - at least in
part - through Product Mix and Pricing.
A significant part of the Management efforts was to keep scaling up
-both in terms of internal output and external vendor base development - as
demand remained high during the year. The success of these efforts was evident
with the very sharp rise in the last two quarters performance.
MANAGEMENT
DISCUSSION AND ANALYSIS
The sharp Indian recovery from the slowdown of 2009, was evident, but so
was the slowdown towards the later half of the year. With Global Market recoveries
still uncertain, the Indian market also showed its uncertainties in the last
quarter and the fresh order intake slowed down. However, unlike the sudden
slump of Y2008, there was little reluctance from customers in terms of
executing the projects already ordered. This helped the Company in reaching its
record sales ever in its 26 years history.
The fundamentals of the Indian Industry still appear quite strong and
the expansion of Indian Foundry Industry is still very much on.
The Company is committed to its philosophy of accelerating the market
growth, through continuous introduction of new products and making the High End
Technology affordable. The DISA 030 - the first fully Made-in-India Vertical
DISAMATIC machine was launched in IFEX in Feb'2011 at Chandigarh and has been
well received by the market. New Products are again planned for introduction at
IFEX'2012 - the First Fully Made-in-India Matchplate Moulding Machine called
the Match 20/24 and also the New Metal Belt Tumblast Machine MB500S, being
localised from the Wheelabrator Germany range.
With continuous introduction of such high end products, the Company
remains confident of leading the Indian Market growth in the coming years.
Hosakote Plant completed its expansion by almost 50% (additional plant
area of 2000 sqm). Tumkur plant added new CNC Machining capacity.
As mentioned earlier, the Company's major markets - Indian Foundries -
are currently facing a major demand boom, but against a background of severe
crunch in availability of labour and power. This is now driving a clear move of
upgrading towards High Productivity Automated High pressure Moulding Lines.
Also, with the Global Merger of the Wheelabrator Group with the DISA Group in
Y2009, the Company now has access to the whole range of Wheelabrator
technologies, which are being introduced now for the Indian Automotive and
Steel Processing Industries, as the Company's new target markets.
High inflation and the Interest rate hikes have impacted fresh order
intakes towards the end of Y2011, though there appears to be a recent revival
again, which is important for the investment cycles to continue and also for
the Capital Equipment Industry to keep growing.
CONTINGENT
LIABILITIES:
(Rs. In Millions)
|
Particulars |
31.12.2011 |
31.12.2010 |
|
a) i) Guarantees given by Bank |
102.334 |
79.150 |
|
ii) LC issued by Bank |
13.2200 |
14.791 |
|
iii) Corporate Guarantees given |
2.370 |
25.563 |
|
b) Estimated amount of contracts remaining to be executed on capital account and not provided for |
11.648 |
5.990 |
|
c) Claims against company not acknowledged as debt : |
|
|
|
-- Income tax |
1.910 |
1.910 |
|
-- Service tax |
0.645 |
0.236 |
|
-- Others |
0.000 |
0.492 |
FIXED ASSETS:
· Land
· Buildings
· Plant and Machinery
· Patterns, Tools, Jigs and Fixtures
· Office Equipment
· Furniture and Fittings
· Vehicles
· Computers
WEBSITE DETAILS
PROFILE
Subject is a leading
Equipment Manufacturer in India, offering advanced Foundry & Surface Preparation
process technology. The company was incorporated in 1984 for the manufacturing
of modern foundry equipment and is head quartered in Bangalore, India. Known by the name DISA India Limited (DIL), a
listed company, the company has been reporting strong performances year after
year. Subject is the Indian arm of the Denmark based DISA Holding A/s, which
owns 75% shares, while the rest is with the Indian public.
Subject supplies complete
foundry systems by integrating the international DISA range of moulding
machines and sand mixers with proper combination of sand plant equipment,
surface preparation machines and environmental control systems. DISA has a
range of Sand Moulding Equipment that cater to different needs of the foundry
industry. It serves customers across the country with its sales offices located
in New Delhi, Pune, Kolkata and Bangalore; and two manufacturing plants, which
are located in Tumkur and Hosakote, Karnataka.
DISA encompasses a team of
committed and highly skilled people, who bring forth their vast industry
experience and knowledge to its range of operations that support the foundry
and other engineering industries. In line with globalization and the strong
integration drive to create a Global DISA, the Indian team is now looked upon
as the major driver for growth of the company worldwide.
With increasing focus on
its Indian Operations, the group established a fully owned R&D Facility –
named DISA Technologies Private Limited – in 2007. This R and D Centre – in
Bangalore - caters to the development needs of the group companies, worldwide.
In the year 2009, DISA
Group - the leading name in moulding and casting technology - merged with the
Wheelabrator Group - the world leader in surface preparation technology - to
form the world’s leading metallic parts enhancement company. The combined
entity is now called the Norican Group.
With strong legacy of over
100 years each, the DISA and Wheelabrator Brands are now housed under the
Norican Group umbrella.
PRESS RELEASE:
DISA INDIA LIMITED SLATED TO LAUNCH ITS FIRST EVER "MADE IN
INDIA" CORE MACHINE AND MANIPULATOR TYPE SHOT BLAST MACHINE
12TH DECEMBER, 2012:
DISA - a World-leading
foundry machinery manufacturer - and Wheelabrator - world's no.1 surface
preparation technology manufacturer - will be soon launching 2 new and highly
innovative products; DISA's first ever "Made in India" CORE Shooter
Machine, 20 FP and Wheelabrator's first ever "Made in India"
Manipulator Type Shot Blast Machine, DS-11. These products are offered from DISA
India operations based at Tumkur and Hosakote respectively.
These pioneering machines
will be unveiled at 61st Indian Foundry Congress and IFEX 2013. The event is
scheduled to be held from 27th Jan - 29th Jan 2013 at Salt Lake Stadium,
Kolkata. This event is India's leading and only trade fair on foundry industry.
"Our new launch will
showcase DISA and Wheelabrator's commitment to the Indian foundry industry. We
are pleased to be the pioneers in bringing forth our very first
'Made in India' DISA CORE
Machine and Wheelabrator manipulator type shot blast machine to the market.
DISA and Wheelabrator have been reiterating the importance of
technology-transfer in the industry and are enthusiastic that the industry will
prioritize the same. Moreover, it is upto the industry stalwarts to set the
pace of progression in the industry." said Mr. Viraj Naidu, Managing
Director, DISA India Private Limited.
Product Snapshot:
DISACORE: The new DISA CORE 20 FP is
designed for foundries wanting to increase their competitive edge with a
flexible and fast production of high-quality cores. DISA CORE 20 FP is German
innovation at an attractive price. The benefits of the product include,
flexible production suitable for multi-, vertical- or horizontal parted core
boxes, fastproduction due to state-of-the-art control system and easy tooling
change with DISA quick action clamping system and much more.
DS-I1: DS-I1 is the manipulator
type shot blast machine offered from Wheelabrator global product range. The
DS-I1 Shot Blast Systems is ideal for Light Metal, Cast Iron, and Forged
Workpieces. The machines feature a combined shot blast and shot removal
chamber. Depending on the particular application, the product can come with
advanced and unparalleled handling arrangements etc.
DISA INDIA TO SELL 11% EQUITY VIA OFFER FOR SALE; DIPS 14%
NOVEMBER 19, 2012
Disa India will sell 1.73
lakh shares (11.45% equity) via offer for sale. The offer for sale on BSE is on
November 20 to meet SEBI’s minimum public shareholding norm, reports CNBC-TV18.
At 09:20 hrs Disa India was
quoting at Rs 2,342, down Rs 379.05, or 13.93%. It has touched an intraday high
of Rs 2,630 and an intraday low of Rs 2,341.95.
It was trading with volumes
of 240 shares. In the previous trading session, the share closed down 0.32% or
Rs 8.60 at Rs 2,721.05.
The share touched its
52-week high Rs 3,944.45 and 52-week low Rs 1,430 on 19 April, 2012 and 24
November, 2011, respectively. Currently, it is trading 40.63% below its 52-week
high and 63.78% above its 52-week low. Market capitalisation stands at
Rs.3536.900 Millions.
The company's trailing
12-month (TTM) EPS was at Rs 130.34 per share. (Sep, 2012). The stock's
price-to-earnings (P/E) ratio was 17.97. The latest book value of the company
is Rs 285.71 per share. At current value, the price-to-book value of the
company was 8.2. The dividend yield of the company was 8.54%.
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 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.54.33 |
|
|
1 |
Rs.83.17 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
65 |
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.