1. Summary Information
|
Country |
India |
||
|
Company Name |
SULZER PUMPS INDIA LIMITED |
Principal Name 1 |
Mr. Venkatasubramanian Narayanaswami Ramanathan |
|
Status |
Good |
Principal Name 2 |
Mrs. Heena Doshi |
|
Registration # |
11-017561 |
||
|
Street Address |
9, M.I.D.C., Thane Belapur Road, Digha, Navi Mumbai – 400708,
Maharashtra, India |
||
|
Established Date |
19.06.1974 |
SIC Code |
-- |
|
Telephone# |
91-22-39130500 / 39130525 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-27606812 / 27796814 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Single Stage Pumps |
|
|
# of employees |
Not Divulged |
Product Name 2 |
-- |
|
Paid up capital |
25,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings - 99.53% Others - 0.47% |
Banking |
ICICI
Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
39 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A (59) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Fellow Subsidiary Company |
-- |
Sulzer Pumps (UK) Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,339,938,000 |
Current Liabilities |
1337,136,000 |
|
Inventories |
641,783,000 |
Long-term Liabilities |
45,877,000
|
|
Fixed Assets |
293,653,000 |
Other Liabilities |
245,820,000 |
|
Deferred Assets |
93,578,000 |
Total Liabilities |
1,628,833,000 |
|
Invest& other Assets |
52,170,000 |
Retained Earnings |
1,767,289,000 |
|
|
|
Net Worth |
1,792,289,000 |
|
Total Assets |
3,421,122,000 |
Total Liab. & Equity |
3,421,122,000 |
|
Total Assets (Previous Year) |
Total + Current Liabilities |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
3,776,495,000 |
Net Profit |
363,123,000 |
|
Sales(Previous yr) |
2786,537,000 |
Net Profit(Prev.yr) |
267,491,000 |
|
Report Date : |
30.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SULZER PUMPS INDIA LIMITED |
|
|
|
|
Registered
Office : |
9, M.I.D.C., Thane Belapur Road, Digha, Navi Mumbai – 400708,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.06.1974 |
|
|
|
|
Com. Reg. No.: |
11-017561 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1974PLC017561 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36628E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2238F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Single Stage Pumps. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
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 7170000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an 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
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE [Tel. No.: 91-22-39150500]
LOCATIONS
|
Registered/ Head Office/ Factory : |
9, M.I.D.C., Thane Belapur Road, Digha, Navi Mumbai – 400708,
Maharashtra, India |
|
Tel. No.: |
91-22-39130500 / 39130525 |
|
Fax No.: |
91-22-27606812 / 27796814 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.12.2012
|
Name : |
Mr. Venkatasubramanian Narayanaswami Ramanathan |
|
Designation : |
Managing director |
|
Address : |
603, Opal Powai Vihar, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1961 |
|
Qualification : |
B. Sc., M.B.A. (Finance) |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
ASIPR9904Q |
|
DIN No.: |
02740746 |
|
|
|
|
Name : |
Pooran Gokaldas Tahilramaney |
|
Designation : |
Director |
|
Address : |
301, White House Apartment, N. Gamadia Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
14.04.1928 |
|
Date of Appointment : |
07.10.1986 |
|
DIN No.: |
00107873 |
|
|
|
|
Name : |
Mrs. Heena Doshi |
|
Designation : |
Alternate director |
|
Address : |
302, Mahavir Sadan, Balaram Street, Grant Road, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
25.08.1957 |
|
Date of Appointment : |
25.09.2006 |
|
DIN No.: |
00364793 |
|
|
|
|
Name : |
Mr. Ashwin Trimbak Bondal |
|
Designation : |
Director |
|
Address : |
5/595-D, Narendra Villa, Dr. B. Ambedkar Road, Matunga, Mumbai –
400019, Maharashtra, India |
|
Date of Birth/Age : |
14.03.1951 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00401941 |
|
|
|
|
Name : |
Markus Adolf Tritschler |
|
Designation : |
Director |
|
Address : |
Markus Tritschler, Frohbergstieg 20, Schaffhausen |
|
Date of Birth/Age : |
18.08.1953 |
|
Date of Appointment : |
15.05.2007 |
|
DIN No.: |
01515146 |
KEY EXECUTIVES
|
Name : |
B. H. Dagha |
|
Designation : |
General Manager – Customer Support Services |
|
|
|
|
Name : |
D. Sengupta |
|
Designation : |
General Manager – Project Management and ORE (Upto April 1, 2011) |
|
|
|
|
Name : |
Mr. Sachin Udgirkar |
|
Designation : |
General Manager – Project Management (from Sept 9, 2011) |
|
|
|
|
Name : |
D. Zarapkar |
|
Designation : |
General Manager – HRDA |
|
|
|
|
Name : |
Mr. Sanjay Sharma |
|
Designation : |
General Manager – Sales and Marketing |
|
|
|
|
Name : |
Mr. Shashank Patwardhan |
|
Designation : |
General Manager – Finance and Controlling |
|
|
|
|
Name : |
Mr. Lajpat Lala |
|
Designation : |
General Manager – Manufacturing, Procurement and Operations |
|
|
|
|
Name : |
Mr. Milind Kulkarni |
|
Designation : |
General Manager – Engineering and ORE |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Anil Pooran |
|
100 |
|
Chetan Jayantilal Shah |
|
2000 |
|
Chetan Jayantilal Shah |
|
1000 |
|
Heena Doshi |
|
100 |
|
N.R. Hariharan |
|
100 |
|
Javerbai Shivji Vikamsey |
|
1000 |
|
Jayantilal Premiji Shah |
|
2000 |
|
Jayashri Suresh Dikshit |
|
100 |
|
Nitin Mahadev Kane |
|
100 |
|
Anand S. Kothekar |
|
100 |
|
Mayur V. Shah |
|
100 |
|
Neemjee Gangji Shah |
|
2500 |
|
Pramod Kumar Singhal |
|
250 |
|
Pratapsey Ratansi Mercant |
|
500 |
|
Rajan Raghunath Raje |
|
100 |
|
Sadhana Hiren Dand |
|
500 |
|
Shashank Chandrakant Patil |
|
500 |
|
Sulzer Pumps Limited, |
|
2488250 |
|
Theresa Joseph Aranjo |
|
100 |
|
Tahilramaney Pooran |
|
600 |
|
Total |
|
2500000 |
AS ON 31.12.2012
|
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] |
99.53 |
|
Others
|
0.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Single Stage Pumps. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Actual
Production |
|
Pumps |
Nos. |
2,908 |
|
Spares |
-- |
-- |
Note:
# Not covered
under the Industries (Development and Regulation) Act, 1951, as certified by
the Management.
@ Assembled against
firm orders. Hence, installed capacity dependent upon orders.
* Spares comprise
of components dissimilar in nature and hence, quantitative information in
respect thereof has not been furnished.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· ICICI Bank Limited, Navi Mumbai, Maharashtra, India · Canara Bank Limited, Navi Mumbai, Maharashtra, India · Central Bank of India, Nariman Point Branch; Chander Mukhi, Ground Floor, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai – 400028,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP3641G |
|
|
|
|
Holding company : |
Sulzer Pumps Limited, Switzerland |
|
|
|
|
Ultimate Holding company : |
Sulzer Limited, Switzerland |
|
|
|
|
Fellow Subsidiary Company : |
· Sulzer Pumps (UK) Limited · Sulzer Pumpen (Deutschland) Gmbh · Sulzer Pumps (Canada) Inc · Sulzer Pumps Asia Pacific Pte Limited · Sulzer Pumps Mexico, SA de C.V. · Sulzer Pumps Finland OY · Sulzer Pompes France SASU · Sulzer Process Pumps US Inc · Sulzer Pumps (US) Inc · Sulzer Management AG · Sulzer Pumps (Anz) Pty Limited · Sulzer Dalian Pumps and Compressors Limited · Sulzer Pumps (South Africa) Pty Limited · Sulzer Pumps Spain SA · Sulzer (Middle East) FZCO · Sulzer Brasil SA · Sulzer Metco Coatings Limited · Sulzer Pumps Suzhou Limited, China · Sulzer Pompes Process SASU · Sulzer Ali and Sons Oil Field Supplies LLC · Sulzer Pumps Sweden Ab · Sulzer Pumps (Nigeria) Limited · Sulzer Tech India Private Limited [U74140MH2006FTC166028] · Sulzer Korea Limited · Sulzer Metco Surface Technology · Sulzer India Limited, Pune |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 [15
Months] |
31.12.2010 [12
Months] |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
25.000 |
25.000 |
25.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1767.289 |
1404.786 |
1323.748 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1792.289 |
1429.786 |
1348.748 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
45.877 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
45.877 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1838.166 |
1429.786 |
1348.748 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
293.653 |
311.172 |
304.329 |
|
|
Capital work-in-progress |
52.170 |
40.613 |
32.014 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
93.578 |
132.748 |
197.249 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
641.783
|
184.117 |
158.789
|
|
|
Sundry Debtors |
1715.032
|
1228.033 |
1377.161
|
|
|
Cash & Bank Balances |
26.641
|
542.121 |
348.189
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.060
|
|
|
Loans & Advances |
598.265
|
305.335 |
170.547
|
|
Total
Current Assets |
2981.721
|
2259.606 |
2054.746
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1038.740
|
673.201 |
521.297
|
|
|
Other Current Liabilities |
298.396
|
214.790 |
320.268
|
|
|
Provisions |
245.820
|
426.362 |
398.025
|
|
Total
Current Liabilities |
1582.956
|
1314.353 |
1239.590
|
|
|
Net Current Assets |
1398.765
|
945.253 |
815.156
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1838.166 |
1429.786 |
1348.748 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 [15
Months] |
31.12.2010 [12
Months] |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
3776.495 |
2786.537 |
2903.771 |
|
|
|
Other Income |
26.352 |
28.026 |
19.732 |
|
|
|
TOTAL (A) |
3802.847 |
2814.563 |
2923.503 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1994.956 |
1496.639 |
-- |
|
|
|
Cost of Goods Sold |
-- |
-- |
1374.571 |
|
|
|
Manufacturing service costs |
146.158 |
95.807 |
-- |
|
|
|
Employee related expenses |
506.327 |
353.156 |
393.525 |
|
|
|
Administrative selling other expenses |
504.948 |
389.902 |
506.177 |
|
|
|
TOTAL (B) |
3152.389 |
2335.504 |
2274.273 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
650.458 |
479.059 |
649.230 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.549 |
9.535 |
14.877 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
633.909 |
469.524 |
634.353 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
71.326 |
52.733 |
43.627 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
562.583 |
416.791 |
590.726 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
199.460 |
149.300 |
202.785 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
363.123 |
267.491 |
387.941 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1271.741 |
1216.955 |
829.014 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Final Dividend (Proposed) |
0.000 |
160.000 |
0.000 |
|
|
|
Dividend Tax |
0.000 |
25.956 |
0.000 |
|
|
|
Transfer to General Reserve |
0.000 |
26.749 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1634.864 |
1271.741 |
1216.955 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on F.O.B. Basis |
1401.104 |
1190.956 |
1291.837 |
|
|
|
Service Charges |
0.000 |
1.203 |
0.378 |
|
|
TOTAL EARNINGS |
1401.104 |
1192.159 |
1292.215 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
515.306 |
438.183 |
193.493 |
|
|
|
Trading Purchases |
103.011 |
30.898 |
14.099 |
|
|
|
Stores and Spare Parts |
0.289 |
0.138 |
0.141 |
|
|
|
Capital Goods |
2.566 |
5.556 |
1.924 |
|
|
TOTAL IMPORTS |
621.172 |
474.775 |
209.657 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
145.25 |
107.00 |
155.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 [15
Months] |
31.12.2010 [12
Months] |
31.12.2009 |
|
PAT / Total Income |
(%) |
9.55
|
9.50 |
13.27
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.90
|
14.96 |
20.34
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.18
|
16.21 |
25.04
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.29 |
0.44
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.72 |
1.66
|
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 |
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90186711 |
08/03/2002 * |
15,000,000.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT
BRANCH; CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI - 400021,
MAHARASHTRA, INDIA |
- |
|
2 |
90186460 |
15/10/1999 * |
97,500,000.00 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMI |
52/60; MAHATMA GANDHI
ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
- |
|
3 |
90186309 |
02/02/1996 |
485,000.00 |
NEW INDIA CO.OP.
ABNK LIMITED |
P' D'MELLO ROAD
BRANCH, 221-225; P. D'MELLO ROAD; |
- |
|
4 |
90184028 |
14/11/1995 |
96,500,000.00 |
THE CENTRAL BANK
OF INDIA |
NARIMAN POINT
BRANCH, CHANDERMUKHI BUILDING, MUMBAI - 400021, MAHARASHTRA INDIA |
- |
|
5 |
90185737 |
10/07/1991 |
466,600.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT
BRANCH, MUMBAI, MAHARASHTRA - 400021 |
- |
|
6 |
90185673 |
21/01/1991 |
1,215,000.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT
BRANCH, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
7 |
90183933 |
14/11/1995 * |
17,200,000.00 |
INDUSTRAIL
CREDIT AND INVESTMENTCORPORATION OF INDIA |
163; BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
8 |
90185564 |
14/11/1995 * |
17,200,000.00 |
INDUSTRAIL
DEVELOPMENT BANK OF INDIA |
IDBI TOWERS;
CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
9 |
90185548 |
11/01/1990 |
15,400,000.00 |
INDUSTRAIL
CREDIT AND INVESTMENTCORPORATION OF INDIA |
163, BACKBAY
RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
10 |
90185338 |
30/01/1989 * |
1,000,000.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT BRANCH;
CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
- |
|
11 |
90185239 |
01/07/1988 * |
8,400,000.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT
BRANCH, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
12 |
90184843 |
15/03/1984 |
69,450.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT
BRANCH, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
13 |
90184513 |
17/02/1994 * |
200,000.00 |
CENTRAL BANK OF
INDIA |
NARIMAN POINT
BRANCH, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
|
14 |
90183844 |
19/10/1976 |
1,230,000.00 |
THE MAHARASTRA
STATE FINANCEIAL CORPORATION |
NEW EXCELSIOR
BUILDING; 7TH; 8TH; & 9TH FLR., A.K |
- |
|
15 |
90184371 |
17/02/1994 * |
150,000.00 |
THE CENTRAL BANK
OF INDIA |
NARIMAN POINT
BRANCH, MUMBAI - 400021, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2012 [15 Months] (Rs.
In Millions) |
31.12.2010 [12 Months] (Rs.
In Millions) |
|
Working capital loans banks unsecured |
45.877 |
0.000 |
|
Total |
45.877 |
0.000 |
PERFORMANCE REVIEW
The period
witnessed an excellent order intake resulting in an all time high of Rs.
4961.000 Millions worth order being received compared to Rs. 3665.000 Millions
in year 2010. There was a significant increase in Exports. On the domestic
front the company continues to make significant inroads in Power segment
particularly in concentrated solar power.
Pressure on
margins continues, due to overall competitive market situation arising out of
increased competition. Despite the pressure on margins, due to various cost
reduction programs implemented during the period, the company could maintain
the profitability level.
The technology
transfer program which was successfully completed in 2010 has significantly
contributed to the order intake growth. The transfer of technology continues based
on market demand and further new models particularly to meet the requirements
of power and hydro carbon processing industries (HPI) are being introduced.
The OI for 2012-13
up until now is good, driven by strong OI in concentrated solar power, exports
and after sales. Further with a strong order backlog at the end of March’2012,
it is expected that sales in the FY 2012-13 would increase significantly both
in new and after sales business. Operational excellence through Lean, growth in
after sales business (spare parts, repairs and service) and people development
along with further improvements in health, safety and sustainability will
continue to remain a focus.
The Company
continues to focus strongly on improving environment, health and safety. It has
implemented Environmental Management System (EMS) and Occupational Health and
Safety Management System (OHSMS) and is committed towards the betterment of
Environment and Society at large. The occupational health and safety of its
employees, visitors and contractors and compliance with the regulatory
requirements are given prime importance. As part of the continual improvement
programmes, regular trainings are provided to the employees. Annual
surveillance audits are conducted by the third party Certification agency to
assess the conformance levels.
The Board wishes
to place on record their appreciation for the excellent cooperation, commitment
and efforts put in by employees and union towards the growth of the company.
The Board acknowledges with thanks the excellent support extended by Sulzer
Pumps Limited – Switzerland, and all their Group Companies.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2012 [15 Months] (Rs.
In Millions) |
31.12.2010 [12 Months] (Rs.
In Millions) |
Remarks |
|
(i) Service Tax Matters |
10.678 |
10.678 |
Pertains to
disputes with the Central Excise authorities. The Company is in appeal at
various appellate levels. |
|
(ii) Income Tax Matters |
11.946 |
0.000 |
Pertains to dispute
with Income tax authorities. The Company is in appeal at CIT (Appeals) level. |
FIXED ASSETS:
Tangible Assets
v
v
v
v Plant and Machinery
v Patterns, Jigs and Fixtures
v Equipments
v Furniture and Fixtures
v Vehicles
v Computers
Intangible Assets
v Technical Know-how Fees
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. 59.30 |
|
|
1 |
Rs. 91.18 |
|
Euro |
1 |
Rs. 78.71 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.