MIRA
INFORM REPORT
|
Report Date : |
25.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
COPERION IDEAL PRIVATE LIMITED |
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|
|
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Registered
Office : |
402, Hemkunt Tower, 98 Nehru Place, New Delhi -110019 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.06.1995 |
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Com. Reg. No.: |
55-070278 |
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Capital
Investment / Paid-up Capital : |
Rs.11.832
Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC070278 |
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|
|
IEC No.: |
0595046070 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of Pneumatic Conveying System. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The latest
financials are not made available with the government department. As per previous year’s, there appears continuous dip in profitability. However, general financials position seems to be good. Networth
appears to be strong. Trade relations are reported to be fair. Business is active. Payments
are unknown. 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.
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 |
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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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ (Cash Credit) |
|
Rating Explanation |
The rating has been suspended due to lack of
information. |
|
Date |
September 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
402, Hemkunt Tower, 98 Nehru Place, New Delhi-110019, India |
|
Tel. No.: |
91-11-26480420/26480521 |
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Fax No.: |
91-11-26461950 |
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E-Mail : |
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Website : |
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|
Location : |
Leased (Commercial) |
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|
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|
Factory : |
A-35 and A-44, Sector 64, Noida - 201307, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2401686/87/88/89/90 |
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Fax No.: |
91-120-2401691 |
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E-Mail : |
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|
Location : |
Industrial |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Umesh Kumar Verma |
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Designation : |
Managing Director |
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Address : |
A-48, Sector 30, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
31.01.1950 |
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Date of Appointment : |
14.05.2004 |
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Din No.: |
00928314 |
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Other Directorship:
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Name : |
Mr. Rajeev Narang |
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Designation : |
Director |
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Address : |
38D, DDA Flats, Gulabi Bagh, New Delhi-110007, India |
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Date of Birth/Age : |
14.11.1969 |
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Date of Appointment : |
30.03.2007 |
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Din No.: |
01419966 |
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Name : |
Mr. Guenter Bachemann |
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Designation : |
Director |
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Address : |
AUF DEM, Gleichen 12, Bad Homburg, Germany |
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Date of Birth/Age : |
05.09.1962 |
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Date of Appointment : |
27.09.2005 |
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Din No.: |
02448071 |
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Name : |
Mr. Axel Jakob Kiefer |
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Designation : |
Director |
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Address : |
Panoramastrasse, 36, Wolpertswende, Germany |
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Date of Birth/Age : |
05.09.1962 |
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Date of Appointment : |
27.09.2005 |
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Din No.: |
02560811 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Umesh Kumar Verma |
|
57976 |
|
Coperion GmbH, Germany |
|
60342 |
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|
|
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Total
|
|
118318 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Directors
or relatives of directors |
|
49.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Pneumatic Conveying System. |
PRODUCTION STATUS AS ON
|
Particulars |
Unit |
Actual
Production |
|
Pneumatic Conveying Systems |
System |
7 |
|
Parts of pneumatic Conveying System |
Nos. |
7498 |
|
Silos |
Nos. |
3 |
|
Valves |
Nos. |
663 |
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Valves Parts |
Nos. |
1792 |
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Filter and Filter Parts |
Nos. |
439 |
|
Pressure / Heater Vessel and Parts |
Nos. |
969 |
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Gamma Bends |
Nos. |
71 |
|
Electric Heater |
Nos. |
-- |
|
Electric Control Panel and Parts |
Nos. |
1135 |
GENERAL INFORMATION
|
Bankers : |
Bank of India, 1, Paras Cinema, Nehru Place, New Delhi-110019, India |
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Facilities : |
NOTE: * Secured by
equitable mortgage of plant and machinery, fixtures and fittings already put
up or to be put up in future in building acquired on lease. Further secured by
hypothecation of all tangible movable property including machinery and plant,
both present and future and stocks of raw material, semi finished goods and
finished goods and by way of charge on all the book debts, outstanding, money
receivable, claims and bills which are now due or owing or which may at any
time hereafter during the continuance of this security becomes due and owing
to the borrower in the course of its business by any person, company or by
the government or any local or public body of authority. Further secured by
deposits of title deeds of the factory building owned by the company’s
managing director. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B. S. R and Company Chartered Accountants |
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Address : |
Building No. 10, 8th Floor, Tower – B, |
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Tel. No.: |
91-124-2549191 |
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Fax No.: |
91-124-2549101 |
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Pan No.: |
AAIFB0630K |
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Holding Company: |
Coperion GmbH, Germany |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
180000 |
Equity Shares |
Rs.100/- each |
Rs.18.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
118318 |
Equity Shares |
Rs.100/- each |
Rs.11.832
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
11.832 |
11.832 |
11.832 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
309.894 |
281.251 |
219.343 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
321.726 |
293.083 |
231.175 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.638 |
0.000 |
12.976 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
60.638 |
0.000 |
12.976 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
382.364 |
293.083 |
244.151 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
153.623 |
133.517 |
123.943 |
|
|
Capital work-in-progress |
0.000 |
2.703 |
2.680 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
28.830 |
30.997 |
27.898 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
236.173
|
56.338 |
91.833
|
|
|
Sundry Debtors |
128.115
|
150.352 |
146.045
|
|
|
Cash & Bank Balances |
96.664
|
130.299 |
91.070
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
58.756
|
28.195 |
27.235
|
|
Total
Current Assets |
519.708
|
365.184 |
356.183 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
234.414
|
140.562 |
142.390 |
|
|
Other Current Liabilities |
6.745
|
15.533 |
57.841
|
|
|
Provisions |
78.638
|
83.223 |
66.322
|
|
Total
Current Liabilities |
319.797
|
239.318 |
266.553 |
|
|
Net Current Assets |
199.911
|
125.866 |
89.630
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
382.364 |
293.083 |
244.151 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
542.000 |
755.500 |
|
|
|
Other Income |
|
63.166 |
NA |
|
|
|
TOTAL |
446.194 |
605.166 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
402.062 |
509.329 |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
402.062 |
509.329 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
44.132 |
95.837 |
117.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.489 |
33.929 |
43.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
28.643 |
61.908 |
73.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
74.298 |
100.476 |
249.260 |
|
|
|
Service Income |
1.338 |
1.251 |
3.527 |
|
|
|
Commission Income |
27.557 |
27.096 |
32.205 |
|
|
|
Freight and Packing Income |
0.886 |
0.181 |
0.920 |
|
|
|
Reimbursement of Expenses |
0.342 |
0.145 |
1.064 |
|
|
TOTAL EARNINGS |
104.421 |
129.149 |
286.976 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
137.689 |
84.377 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
242 |
523 |
619 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.42
|
10.23 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
17.68 |
15.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.55
|
19.22 |
24.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.33 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.19
|
0.00 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.53 |
1.34 |
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 |
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 |
v |
|
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 |
No |
|
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 |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80007495 |
|
Corporate
identity number of the company |
U74899DL1995PTC070278 |
|
Name of the
company |
COPERION IDEAL
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
402, Hemkunt Tower, 98 Nehru Place, New Delhi-110019, India |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Bank of India, 1, Paras Cinema, Nehru Place, New Delhi-110019, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation |
|
Date of
instrument Creating the charge |
12.09.2011 |
|
Amount secured by
the charge |
Rs.450.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Terms of
Repayment As per Sanction
Terms Margin On stock : 25% On Book Debts :
30% On Packing Credit
: 25% On LC
(Foreign/Import) -DP/DA 90 days : 10% On BG
(Inland/Foreign) : 10 % Extent and
Operation of the charge The Company's
assets are hypothecated to secure the credit facilities aggregating to Rs.
450.000 Millions granted by the bank to the borrower |
|
Short particulars
of the property charged |
Hypothecation of stock
of all tangible movable assets including in particular steel, aluminium,
copper sheets, work in process, movable machinery, stores, spare parts,
furniture, office equipments etc And finished
goods such as pneumatic conveying systems godowns or in transit etc and stock
in process of the borrower wheresoever situated at premises of the company. Hypothecation of
all tangible movable machineries and plant, both present and future whether
installed or not and whether lying loose or in cases at site or in transit. Hypothecation of
all the present and future book debts, outstanding, Exports, money
receivables, claims, bills etc |
|
Particulars of
the present modification |
On Renewal, the
overall credit facilities has now been renewed upto Rs. 450.000 Millions.
Therefore total amount of charge secure against hypothecation of stock, book
debts, tangible movable machinery etc has now been enhanced/renewed upto Rs.
450.000 Millions. |
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Vehicle
- Leased hold
Improvements
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.54.43 |
|
|
1 |
Rs.83.20 |
|
Euro |
1 |
Rs.71.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
|
36 |
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.