MIRA
INFORM REPORT
|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
BSH HOUSEHOLD APPLIANCES MANUFACTURING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Arena House, Main Building, 2nd Floor, Plot No.103, Road
No.12, MIDC, Andheri (East), Mumbai - 400093, Maharashtra |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
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|
Date of
Incorporation : |
07.06.2011 |
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|
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Com. Reg. No.: |
11-218407 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 400.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253MH2011FTC218407 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB21576C |
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|
|
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PAN No.: [Permanent Account No.] |
AAECB6071D |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Manufacturer of Home Appliances viz. Washing Machines,
Refrigerators, Dish Washers, Cooking Hobs and Hoods etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 1570000 |
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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 a subsidiary of “BSH Bosch and Siemens Hausqeraete Gmbh,
Germany”. It has been incorporated during 2011 and the operations had been
commenced as on January 2012. The management failed to file its financials for the year 2012 with
the government department. Mr. Balaji the Head of Import Export Department has denied to disclose
any information. However, the subject gets strong managerial and technical support from
its holding company. As per the with the Registrar of Companies, the business is active.
Payment terms are unknown. In view of experienced promoters, the company can be considered for
business dealings with great caution. |
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 BY
|
Name : |
Mr. Balaji |
|
Designation : |
Head of Import Export Department |
|
Contact No.: |
91-22-67518002 |
|
Date : |
04.06.2013 |
LOCATIONS
|
Registered Office : |
Arena House, Main Building, 2nd Floor, Plot No.103, Road No.12,
MIDC, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-67518002/ 67518000/ 8056/ 8017/ 8030/ 8069/ 8010/ 8040 |
|
Fax No.: |
91-22-27518020/ 67518002 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.06.2012
|
Name : |
Mr. Marc Hantscher |
|
Designation : |
Managing Director |
|
Address : |
Oakwood Premier Mumbai, 29/1 J R Mhatre Road, Juhu, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
04.11.1969 |
|
Date of Appointment : |
07.06.2011 |
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PAN No.: |
AFPPH4559D |
|
DIN No.: |
03114489 |
|
|
|
|
Name : |
Mr. Heiko Franz Schletz |
|
Designation : |
Director |
|
Address : |
Poetschenerstr. 43B Gauting 82131 |
|
Date of Birth/Age : |
01.05.1968 |
|
Date of Appointment : |
07.06.2011 |
|
DIN No.: |
02886046 |
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|
|
|
Name : |
Dr. Klemens Bernhard Georg Walf |
|
Designation : |
Director |
|
Address : |
Flat No.1B, Patio Apartments, Rutland Gate, Nungambakkam, Chennai –
600034, Maharashtra, India |
|
Date of Birth/Age : |
10.05.1958 |
|
Date of Appointment : |
01.09.2011 |
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PAN No.: |
ACLPW6857G |
|
DIN No.: |
05214789 |
KEY EXECUTIVES
|
Name : |
Mr. Balaji |
|
Designation : |
Head of Import Export Department |
|
|
|
|
Name : |
Mrs. Himani Kamal |
|
Designation : |
Company Secretary |
|
Date of Appointment : |
06.12.2011 |
|
PAN No.: |
AGWPC6595L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
BSH Vermogensverwaltungs |
|
1000 |
|
BSH Bosch and Siemens Hausgeraete |
|
39999000 |
|
|
|
|
|
Total |
|
40000000 |
AS ON 29.06.2012
|
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] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Manufacturer of Home Appliances viz. Washing Machines,
Refrigerators, Dish Washers, Cooking Hobs and Hoods etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Divulged |
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins
and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie
Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Holding company : |
BSH Bosch and
Siemens Hausgerate GmbH, Germany |
|
|
|
|
Ultimate Holding
company |
Robert Bosch
GmbH and Siemens AG |
|
|
|
|
Fellow
Subsidiary company : |
BSH Home Appliances
Private Limited [U29300MH1997PTC110691] |
|
|
|
|
Associates : |
Bosch Limited [L85110KA1951PLC000761] |
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.12.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
400.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(7.172) |
|
|
NETWORTH |
|
|
392.828 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
392.828 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.946 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
9.061 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
51.355 |
|
|
Other Current Assets |
|
|
336.795 |
|
|
Loans & Advances |
|
|
75.365 |
|
Total
Current Assets |
|
|
472.576 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
76.974 |
|
|
Other Current Liabilities |
|
|
3.711 |
|
|
Provisions |
|
|
0.009 |
|
Total
Current Liabilities |
|
|
80.694 |
|
|
Net Current Assets |
|
|
391.882 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
392.828 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
2.518 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
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TOTAL |
|
|
9.684 |
|
|
|
|
|
|
|
|
|
PROFIT/
[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(7.166) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX |
|
|
(7.173) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX |
|
|
(8.009) |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
|
|
9.061 |
|
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
|
|
(0.20) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.12.2011 |
|
PAT / Total Income |
(%) |
|
|
(318.07) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(1.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
5.86 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.12.2011 (Rs. In Millions) |
|
|
|
|
Trade Payable |
76.974 |
|
|
|
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
one year |
Yes |
|
12] |
Profitability for last
one year |
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 |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CORPORATE INFORMATION
BSH Household
Appliances Manufacturing Private Limited has been incorporated on 7th June, 2011.
It is a subsidiary of BSH Bosch und Siemens Hausgerate GmbH, Munich Germany.
The Company has been incorporated to import, manufacture and sell in India, the
home appliances of Bosch and Siemens brand. The Company intends to trade and
manufacture home appliances viz. washing machines, refrigerators, dish washers,
cooking hobs and hoods etc.
PERFORMANCE REVIEW:
During the year,
the net sales of the company were Nil, however since January 2012, the company
has started doing its trading business and aims to achieve a turnover of Rs.
1700.000 Millions.
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. 56.87 |
|
|
1 |
Rs. 87.65 |
|
Euro |
1 |
Rs. 74.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.