MIRA
INFORM REPORT
|
Report Date : |
04.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
HONEYWELL AUTOMATION INDIA LIMITED (w.e.f. March 24, 2005) |
|
|
|
|
Formerly Known
As : |
TATA HONEYWELL LIMITED |
|
|
|
|
Registered
Office : |
56 and 57, Hadapsar Industrial Estate, Pune – 411 013, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
13.01.1984 |
|
|
|
|
Com. Reg. No.: |
11-017951 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 88.415 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29299PN1984PLC017951 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET00043B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT3904F |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer
of Control Solutions. |
|
|
|
|
No. of Employees
: |
1355 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 25000000 |
|
|
|
|
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. Directors are reported
to be experienced and respectable businessmen. Trade relations are reported
as fair. Business is active. Payments are reported to be regular and as per
commitments. 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 / Head Office : |
56 and 57, Hadapsar Industrial Estate, Pune – 411 013, |
|
Tel. No.: |
91-20-66039400 / 26870445 / 26870446 / 26872170 / 26870153 /
66008187 / 66072725 |
|
Fax No.: |
91-20-66039800 / 26872205 / 26875957 / 66039979 |
|
E-Mail : |
|
|
Website : |
http://www.honeywell.com |
|
|
|
|
Regional Offices : |
Located at: ·
·
·
Chennai ·
·
·
Kolkata ·
Mumbai ·
·
|
DIRECTORS
As on 20.04.2012
|
Name : |
Mr. Madhukar Narayan Bhagwat |
|
Designation : |
Chairman and Independent Director |
|
Address : |
62, Blue Haven, 14, |
|
Date of Birth/Age : |
04.06.1932 |
|
Qualification : |
M .Mechanical Engineering |
|
Date of Appointment : |
02.11.2004 |
|
DIN No.: |
00036692 |
|
|
|
|
Name : |
Mr. Surendra Laxminarayan Rao |
|
Designation : |
Director |
|
Address : |
D1, Chartered Cottage, |
|
Date of Birth/Age : |
22.01.1936 |
|
Qualification : |
B.Com, M.A in Economic |
|
Date of Appointment : |
24.01.2002 |
|
DIN No.: |
00005675 |
|
|
|
|
Name : |
Gerard Milton Willis |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.12.1953 |
|
Qualification : |
MA International Affairs, BA |
|
Date of Appointment : |
01.01.2006 |
|
DIN No.: |
02696947 |
|
|
|
|
Name : |
Shane Shahrooz Tedjarati |
|
Designation : |
Director |
|
Address : |
# 58, Le Chateau 2000, |
|
Date of Birth/Age : |
16.11.1962 |
|
Qualification : |
MBA |
|
Date of Appointment : |
14.10.2008 |
|
DIN No.: |
02396256 |
|
|
|
|
Name : |
Norman Lee Gilsdorf |
|
Designation : |
Director |
|
Address : |
Flat # 20, Dorchester House, 8, Strand Drive, Richmond Survey, United
Kingdom, TW94DX |
|
Date of Birth/Age : |
18.12.1953 |
|
Qualification : |
Chemical engineering degree, MBA in international business and finance |
|
Date of Appointment : |
06.02.2009 |
|
DIN No.: |
02558302 |
|
|
|
|
Name : |
Mr. Anant Hari Maheshwari |
|
Designation : |
Managing Director |
|
Address : |
73, |
|
Date of Birth/Age : |
07.04.1973 |
|
Qualification : |
MBA, MS Economics, BE |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
02963839 |
KEY EXECUTIVES
|
Name : |
Ms. Sneha Prashant Padve |
|
Designation : |
Company Secretary |
|
Address : |
Building I, Flat # 8, Parmar Nagar, Fatima Nagar, Pune – 411 013,
Maharashtra, India |
|
Date of Birth/Age : |
19.04.1967 |
|
Qualification : |
LLB, B commerce |
|
Date of Appointment : |
14.08.1996 |
|
PAN No.: |
AEVPP7162B |
|
|
|
|
SENIOR MANAGEMENT TEAM: |
|
|
|
|
|
Name : |
Mr. Ananthanarayanan K. V. |
|
Designation : |
Head - Lega |
|
|
|
|
Name : |
Mr. Bagaitkar Ravi Head |
|
Designation : |
Honeywell Operating System |
|
|
|
|
Name : |
Mr. Bansal Rohit Head |
|
Designation : |
Sensing and Controls |
|
|
|
|
Name : |
Mr. Biswas Amitava Head |
|
Designation : |
Process Solutions |
|
|
|
|
Name : |
Mr. Godbole Milind Head |
|
Designation : |
Building Solutions |
|
|
|
|
Name : |
Mr. Kamal Asad Head |
|
Designation : |
Strategy and Marketing |
|
|
|
|
Name : |
Mr. Kelkar Anant Head |
|
Designation : |
Integrated Supply Chain |
|
|
|
|
Name : |
Mr. Mitter Kaushik Head |
|
Designation : |
Human Resources |
|
|
|
|
Name : |
Ms. Nemade Snehal Head |
|
Designation : |
Audit and Internal Controls |
|
|
|
|
Name : |
Mr. Patil Ajay |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Pradhan Ninad Head |
|
Designation : |
Environment and Combustion Controls |
|
|
|
|
Name : |
Mr. Tumkur Savyasachi |
|
Designation : |
Head - Global Services |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.12.2012
|
Category of
Shareholder |
Number of Shares |
Percentage of Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
6631142 |
75.00 |
|
|
6631142 |
75.00 |
|
Total shareholding
of Promoter and Promoter Group (A) |
6631142 |
75.00 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1066061 |
12.06 |
|
|
1880 |
0.02 |
|
|
285 |
0.00 |
|
|
34107 |
0.39 |
|
|
1102333 |
12.47 |
|
|
|
|
|
|
187381 |
2.12 |
|
|
|
|
|
|
889433 |
10.06 |
|
|
29420 |
0.33 |
|
|
1814 |
0.02 |
|
|
1114 |
0.01 |
|
|
700 |
0.01 |
|
|
1108048 |
12.53 |
|
Total Public
shareholding (B) |
2210381 |
25.00 |
|
Total (A)+(B) |
8841523 |
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) |
8841523 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Control Solutions. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Systems |
Nos |
399 |
|
Transmitters |
Nos. |
37933 |
GENERAL INFORMATION
|
No. of Employees : |
1355 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
|
|
PAN. No. : |
AADFP9359C |
|
|
|
|
Holding Company : |
Honeywell Asia -Pacific Inc. |
|
|
|
|
Ultimate Holding
Company : |
Honeywell International Inc. |
|
|
|
|
Fellow Subsidiaries
: |
· Honeywell Middle East B.V. · Honeywell International (India) Private Limited · Honeywell Technology Solutions Quatar · Honeywell Limited Australia · Honeywell Tianjin Limited · Honeywell Limited · Honeywell Controls and Automation India Private Limited · Honeywell Enraf Americas, Inc. · Honeywell B.V. · Honeywell Measurex (Ireland) Limited · Honeywell and Co. Oman L.L.C. · Honeywell Turkey Arabia Limited · Honeywell Pte Limited · Honeywell Controls System Limited · Honeywell Automation and Control Solutions South Africa (Pty) Limited · Honeywell International Middle East Limited · Honeywell Kuwait KSC. · MST Technology GMBH · Novar Controls Corporation · Honeywell Security France S.A. · Honeywell Europe N.V. · Honeywell GMBH · Honeywell Systems (Thailand) Limited · Honeywell S.A. (Belgium) · Honeywell Limited. ( Hong Kong) · Honeywell Airport Systems Gmbh · Enraf B.V. · Honeywell s.r.l. · Honeywell Technology Solutions Lab Private Limited · UOP India Private Limited · Pittway Systems Technology Group Europe Limited · Honeywell Engineering Sdn. Bhd. · Honeywell Taiwan Inc. · Honeywell Company Limited · Callidus Technologies India Private Limited · Honeywell S.L. · Honeywell Building Solutions Gmbh · Honeywell Portugal, Automacao e Contolo, S.A. · Novar Systems Limited · Honeywell Automation and control Solutions Carribean Limited · Honeywell Middle East FZE · Honeywell AS Norway · Honeywell Controls International Limited · Honeywell OY · Tridium Inc. · Matrikon Middle East Co WLL · Honeywell Limited (New Zeland) · RMF US Holding Gmbh · Honeywell Austria Gesellschaft mbh · Honeywell International s.a.r.l. · Honeywell A.B. · Honeywell Sensing and Control China Company Limited · Matrikon Pty Limited · Honeywell E.P.E. · Trend Control Systems Limited · Honeywell AG · Sinpoec Honeywell Tianjin Limited · Honeywell International 108 LM and C · Honeywell Southern Africa (Proprietary) Limited · Matrikon Industrial Solutions India Private Limited · Honeywell Japan Inc. · Honeywell Chile S.A. · Honeywell A/S (Denmark) · Honeywell Aerospace B.V. · Honeywell Szabalyozastechnikaies Automatizalasi Kft. · Honeywell Turbo Technologies (India) Private Limited · Honeywell China Company Limited · Honeywell Electrical Devices and Systems India Limited · PT Honeywell Indonesia · Matrikon Deutschland AG · Life Safety Distribution AG · Honeywell Safety Products Chuzhou Company Limited · Honeywell Analytics Asia Pacific Company Limited · BW Research LP · Honeywell Otomasyon ve Kontrol Sistemleri Sanayi ve Ticaret A.S. · Honeywell SPA · Honeywell Analytics Inc, · Novar Gmbh · Honeywell Xinyao Automotive Sensors (Shanghai) Company Limited · Enraf Fluid Technology UK Limited · Honeywell Specialty Chemicals (Singapore) Pte. Limited · Ademco Asia Pacific Limited · Maxon Corporation · Tridium Asia Pacific Pte Limited · Honeywell ASCa Inc. · Honeywell Beijing Technology Solutio · Maxon Combustion Equipment (Shanghai) Company Limited · Honeywell ECC Novar · Honeywell Ic - Vancouver Operations · Phoenix Controls Corporation · Enraf Tanksystem SA · Honeywell Company Limited · Enraf Marine Systems ·
Honeywell Turbo (India) Private Limited |
CAPITAL STRUCTURE
As on 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8841697 |
Equity Shares |
Rs.10/- each |
Rs.88.417 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8841523 |
Equity Shares |
Rs.10/- each |
Rs.88.415 Millions |
|
|
|
|
|
Note:
7182475 (Previous Year : 7182475 ) Equity Shares constituting 81.24% of the paid-up capital of the Company are held by Honeywell International Inc., the ultimate holding company, through its 100% subsidiary, Honeywell Asia Pacific Inc.
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 |
88.415 |
88.415 |
88.415 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6214.102 |
5245.428 |
4298.068 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6302.517 |
5333.843 |
4386.483 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
1.248 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
1.248 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6302.517 |
5333.843 |
4387.731 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
741.679 |
753.143 |
717.714 |
|
|
Capital work-in-progress |
27.270 |
8.772 |
35.212 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
403.631 |
308.868 |
281.854 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3187.470 |
788.267 |
805.465 |
|
|
Sundry Debtors |
3656.852 |
3215.054 |
2891.700 |
|
|
Contracts in progress |
0.000 |
1010.354 |
0.000 |
|
|
Cash & Bank Balances |
1765.649 |
2111.825 |
1060.915 |
|
|
Other Current Assets |
116.550 |
28.850 |
0.592 |
|
|
Loans & Advances |
1362.269 |
1022.703 |
1642.393 |
|
Total
Current Assets |
10088.790 |
8177.053 |
6401.065 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3574.352 |
2721.773 |
2051.053 |
|
|
Other Current Liabilities |
613.360 |
541.000 |
520.922 |
|
|
Provisions |
771.141 |
651.220 |
476.139 |
|
Total
Current Liabilities |
4958.853 |
3913.993 |
3048.114 |
|
|
Net Current Assets |
5129.937 |
4263.060 |
3352.951 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6302.517 |
5333.843 |
4387.731 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16124.962 |
13547.084 |
11745.670 |
|
|
|
Other Income |
168.650 |
90.571 |
68.055 |
|
|
|
TOTAL (A) |
16293.612 |
13637.655 |
11813.725 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
9661.148 |
7889.267 |
|
|
|
|
Manufacturing service costs |
121.189 |
98.238 |
9869.096 |
|
|
|
Employee related expenses |
2835.535 |
2215.305 |
|
|
|
|
Administrative selling other expenses |
2062.079 |
1916.056 |
|
|
|
|
TOTAL (B) |
14679.951 |
12118.866 |
9869.096 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1613.661 |
1518.789 |
1944.629 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.481 |
0.843 |
6.136 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1605.180 |
1517.946 |
1938.493 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
148.119 |
128.990 |
118.627 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1457.061 |
1388.956 |
1819.866 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
385.628 |
338.496 |
491.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1071.433 |
1050.460 |
1327.924 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3933.124 |
3090.810 |
1999.119 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
107.100 |
105.046 |
132.792 |
|
|
|
Dividend |
88.400 |
88.415 |
88.415 |
|
|
|
Tax on Dividend |
14.300 |
14.685 |
15.026 |
|
|
BALANCE CARRIED
TO THE B/S |
4794.757 |
3933.124 |
3090.810 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2166.032 |
2112.510 |
1551.131 |
|
|
|
Services |
2724.927 |
2327.678 |
3383.190 |
|
|
|
Reimbursements |
487.535 |
378.741 |
432.032 |
|
|
|
Others |
670.758 |
430.529 |
0.000 |
|
|
TOTAL EARNINGS |
6049.252 |
5249.458 |
5366.353 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4629.397 |
3679.173 |
3434.915 |
|
|
|
Capital Goods |
22.286 |
24.292 |
45.996 |
|
|
TOTAL IMPORTS |
4651.683 |
3703.465 |
3480.911 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
121.18 |
118.81 |
150.19 |
|
QUARTERLY RESULTS
|
PARTICULARS |
31.03.2012 |
30.06.2012 |
30.09.2012 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
4131.500 |
3866.200 |
4079.300 |
|
Total Expenditure |
3883.700 |
2729.200 |
3794.400 |
|
PBIDT (Excl OI) |
247.800 |
137.000 |
384.900 |
|
Other Income |
19.600 |
63.500 |
28.800 |
|
Operating Profit |
267.400 |
200.500 |
313.700 |
|
Interest |
0.600 |
0.600 |
0.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
266.800 |
199.900 |
313.200 |
|
Depreciation |
34.300 |
24.200 |
34.500 |
|
Profit Before Tax |
232.500 |
165.700 |
278.700 |
|
Tax |
66.900 |
48.200 |
67.100 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
165.600 |
117.500 |
211.600 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
165.600 |
117.500 |
211.600 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
6.58
|
7.70 |
11.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.04
|
10.25 |
15.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.45
|
15.55 |
25.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.26 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
2.09 |
2.10 |
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
No |
|
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 |
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 |
OPERATIONS:
Honeywell Process
Solutions (HPS) –
Business serves core industrial sectors of Refining, Oil and Gas, Pulp and Paper, Metal and Cement etc.
Honeywell Building
Solutions (HBS) –
Business provides solutions and services for facilities such as Commercial and Industrial Buildings, IT and ITES industry, Hospitals, Hotels, Airports, Mass Rapid Transit (MRT) etc.
Environment and
Combustion Control (ECC) –
Through multi channels and multiple brands, offers environmental and combustion products and solutions to commercial, hospitality and industrial segments.
Sensing and Control
(S and C) –
Products business provides various sensors and switches to manufacturing and automobile industry. This business serves primarily OEMs in various manufacturing industries such as auto, medical instrumentation, IT, etc.
Exports Business
Group (EBG) –
Provides manufacturing and engineering services to Honeywell along with some other non Honeywell customers across the globe, leveraging the economies of scale on talent and cost arbitrage.
INDUSTRY OUTLOOK AND OPPORTUNITIES
The Company’s operating results are largely influenced by market factors such as Industrial Production, Capital Spending on Process and Building Automation, Commercial and Infrastructure Construction, Commodity prices and Foreign Exchange variations. Economic and industry conditions regarding Environment, Security and Safety end markets and Regulations also have an impact on the Company’s operation. Some of the important market conditions were:
• Exports volume is largely originated through Honeywell companies around the world. During the year, there have been significant economic and competitive pressures caused due to slow down in developed markets. Overall geographic mix of global business is also shifting to other countries in Asia, Middle-East, South America and Eastern Europe – this change significantly reduces the cost benefit of sourcing services from India by Honeywell entities. Competitive pressures especially from developing nations in Eastern Europe and Central Asia are ever increasing with comparable options available to customers closer to their geographies.
• Government spending is critical for development of core infrastructure like Roads, Ports, Airports, Mass Transportation Systems, Energy Conservation, Safety and Electronic Security Systems etc. Such spending supports volume growth of Buildings Solutions business group of the Company, and such spending has declined.
• For Process Solutions Business, continued incremental investment in Refining, Power Generation, Transmission and Distribution, Oil Exploration projects offset due to delayed decisions in Oil Marketing and Distribution investments and private investments in Chemicals, Paper and other Small and Medium Enterprises (SME) Process Industries.
• Rapid urbanization is making Tier 2 and Tier 3 cities along with rural economy as the new growth areas for sustaining economic development. During the year,the Company has initiated steps to augment infrastructure in Tier 2 and Tier 3 cities which will help in sustaining business growth in coming years.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.12.2011 |
31.12.2010 |
|
Income Tax claims against the Company |
563.575 |
773.014 |
|
Excise duty claims against the Company |
1.475 |
1.475 |
|
Sales tax refunds/claims against the Company |
196.221 |
42.283 |
|
Customs duty claims against the Company |
3.553 |
3.553 |
Note:
Bank Guarantees given to customers- against performance / advance Rs.3616.854 Millions (Previous Year Rs. 2684.891 Millions)
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
Intangible Assets
·
Product Distribution Rights HSPL
·
Oracle License
·
Software
WEBSITE DETAILS
PRESS RELEASE:
HONEYWELL CHOSEN
BY KRAKATAU STEEL TO IMPROVE ENERGY EFFICIENCY AND REDUCE COSTS
Krakatau Steel
Adopts Honeywell’s Energy Management Service to Create an Efficient Energy
Consumption System
JAKARTA,
Indonesia, August 23, 2011 – Honeywell (NYSE:HON) today announced that PT.
Krakatau Daya Listrik (KDL), a subsidiary of PT. Krakatau Steel Group (PTKS
Group), has selected Honeywell Process Solutions (HPS) to implement energy
management and monitoring solutions which will help it get long-term cost
savings through greater energy efficiency. KDL will implement the selected HPS
solutions at PTKS Group’s facilities.
KDL is the primary supplier of electrical power for the government-owned
PTKS Group, which is the largest steel maker in Indonesia with a combined
maximum steel capacity of 2.45 million tons per year and is Southeast Asia’s
largest integrated steel producer.
PTKS consumes a significant amount of energy (including electrical
power, natural gas and industrial gases) due to its large production capacity.
Implementing HPS' Energy Management Service allows KDL to effectively monitor,
manage and control its energy consumption without affecting the levels of
productivity at PTKS' facilities. This meticulous monitoring helps KDL achieve
the best possible energy use, so lowering its overall operational expenses.
"Providing energy for such a large-scale production is not an easy task,
as we often run into high costs. By implementing HPS' proven solutions, we will
be able to control and monitor energy usage, which ultimately helps us reduce
those costs significantly in the long run," said Wisnu Kuncoro, President
Director, KDL. "We chose Honeywell Process Solutions because of their
previous experience in handling energy management projects and their in-depth
knowledge of the steel manufacturing industry."
"Often, energy expenses are considered a fixed cost due to their
substantial share of operating expenditures," said Tony Cosgrove, vice
president sales, Asia Pacific, Honeywell Process Solutions. "With their
Energy Management Service, KDL will now be able to gain a competitive edge as
they are able to fully control their energy supply chain and achieve energy
savings. We look forward to strengthening their relationship with the Krakatau
Steel Group and work on even greater projects in the future."
Honeywell International is a Fortune 100 diversified technology and
manufacturing leader, serving customers worldwide with aerospace products and
services; control technologies for buildings, homes and industry; automotive
products; turbochargers; and specialty materials. Based in Morris Township,
N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock
Exchanges. For more news and information on Honeywell, please visit
www.honeywellnow.com. Honeywell Process Solutions is part of Honeywell’s
Automation and Control Solutions group, a global leader in providing product and
service solutions that improve efficiency and profitability, support regulatory
compliance, and maintain safe, comfortable environments in homes, buildings and
industry.
ONEYWELL LAUNCHES
NEW REMOTE COLLABORATION, OPTIMIZATION AND OPERATIONS SOLUTION
Latest Honeywell
Solution Produces True Business Transformation by Leveraging Expertise Across
Remote Facilities
PERTH, Australia,
August 22, 2011 - Honeywell (NYSE:HON) today announced the launch of its new Remote
Collaboration, Optimization and Operations solution, which helps customers
share their expertise across remote facilities, improving safety in hazardous
environments, as well as optimizing production and improving recovery.
In the upstream oil and gas and mining industries, multiple production
facilities are often spread over vast geographical distances and, in some
cases, in hazardous environments, making it difficult to ensure the safety of
plant personnel and production assets, or share valuable information and best
practices. Plus, remote facilities often operate independently from one
another, making it even harder to share learnings and to achieve optimal
productivity levels across the whole network.
Honeywell Process Solutions' (HPS) approach allows industrial
organizations to monitor and manage operational activities across multiple
facilities from anywhere within a network of sites, leading to better
collaboration between staff and process optimization across locations. Sites
can be connected to each other, either through a central facility or via a
network of interconnected collaboration centers, supporting real-time
collaboration, resolving challenges quickly and improving production/yield over
the full lifecycle.
"As organizations grow, it becomes more important for them to work
efficiently across different locations to meet growing production
demands," said Ian Brown, Vice President and General Manager, Advanced
Solutions. “HPS has already worked with many top-notch customers to implement
this type of solution, including the world’s largest producer of copper, the
leading producer of crude oil and natural gas in the North Sea, a major
international producer of primary and fabricated aluminum and a global
industrial gas production company. With this solution, these companies have seen
a boost in yield and production, increased profit margins without major capital
expansions, faster and more accurate decision making by operations staff, and
reduced energy consumption.
As well as delivering advanced technology and implementation services,
HPS’ solution uses a global network of partners to offer a host of services
including change management consulting, business process management consulting,
telecom support and collaboration facility design. The combination of the
Advanced Solutions team’s expert consultative approach and vendor-neutral
integration capabilities with HPS’ broad product portfolio and service
experience helps customers achieve transformative business outcomes.
“HPS’ new Remote Collaboration, Optimization and Operations solution not
only addresses this need, but also improves safety for employees in hazardous
environments, as they can learn from their colleagues who may not even be
physically present in the same location,” Brown said. “This solution is made
for companies who want to grow geographically while making sure they share
knowledge so as to continue being as efficient as possible.”
Honeywell International is a Fortune 100 diversified technology and
manufacturing leader, serving customers worldwide with aerospace products and
services; control technologies for buildings, homes and industry; automotive
products; turbochargers; and specialty materials. Based in Morris Township,
N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock
Exchanges. For more news and information on Honeywell, please visit
www.honeywellnow.com. Honeywell Process Solutions is part of Honeywell’s
Automation and Control Solutions group, a global leader in providing product
and service solutions that improve efficiency and profitability, support
regulatory compliance, and maintain safe, comfortable environments in homes,
buildings and industry.
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. 53.32 |
|
|
1 |
Rs. 84.60 |
|
Euro |
1 |
Rs. 72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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.