MIRA
INFORM REPORT
|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HAFELE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 3, Building ‘A’ Beta, I - Think Techno Campus, Off JVLR,
Opposite Kanurmarg Station, Kanjurmarg (East), Mumbai – 400042,
Maharashtra |
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|
Country : |
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Financials (as
on) : |
31.12.2011 |
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Date of
Incorporation : |
05.05.2003 |
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|
Com. Reg. No.: |
11-140300 |
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Capital
Investment / Paid-up Capital : |
Rs. 421.068
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51393MH2003PTC140300 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH06969E |
|
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|
|
PAN No.: [Permanent Account No.] |
AABCH2726A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importer and Distributor of furniture fittings etc. |
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|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
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|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a satisfactory track record.
There appears slight dip in profitability during December 2011. However, general financial position is good. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 PARTED BY
|
Name : |
Mr. Anthony Jerson |
|
Designation : |
Senior Manager Finance |
|
Contact No.: |
91-22-61426100 |
|
Date : |
19.06.2013 |
LOCATIONS
|
Registered Office / Head Office: |
Office No. 3, Building ‘A’ Beta, I-Think Techno Campus, Off JVLR,
Opposite Kanurmarg Station, Kanjurmarg (East), Mumbai – 400042, Maharashtra,
India |
|
Tel. No.: |
91-22-61426100 |
|
Fax No.: |
91-22-66950922/67020531 |
|
E-Mail : |
abhijit.dansode@hafeleindia.com
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
|
I-1676, |
|
Tel No.: |
91-11-41605481 |
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Fax No.: |
91-11-41605482 |
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Email: |
|
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|
|
|
|
No. 14, Pushparang, |
|
Tel No.: |
91-80-41326116 |
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Fax No.: |
91-80-41326226 |
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Email: |
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|
Park Side 8-2-348/4, Road No. 3, Above Almond House, Banjara Hill,
Hyderabad-500034, |
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Tel No.: |
91-40-30284999/ 66668651 |
|
Fax No.: |
91-40-30284111 |
|
Email: |
DIRECTORS
AS ON: 04.05.2012
|
Name : |
Mr. Jurgen Wolf |
|
Designation : |
Director |
|
Address : |
101/201, Gopush Apartment, Plot No. 27, 11th Road, JVPD,
Vile Parle (West), Mumbai – 400057, Maharashtra, India |
|
Date of Birth / Age: |
25.03.1957 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
14.03.2007 |
|
DIN No.: |
00152999 |
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|
|
|
Name : |
Mr. Sibylle Annemarie Thierer |
|
Designation : |
Director |
|
Address : |
Breslauer STR 43, 722202, Nagold – 72202, Germany |
|
Date of Birth / Age: |
27.08.1960 |
|
Date of Appointment : |
14.06.2011 |
|
DIN No.: |
03551878 |
KEY EXECUTIVES
|
Name : |
Mr. Anthony Jerson |
|
Designation : |
Senior Manager Finance |
|
|
|
|
Name : |
Mr. Abhishek Prakash Panchwagh |
|
Designation : |
Secretary |
|
Address : |
206, Gaikar Bhavan, Kabad Ali, Edulji Road, Charali, Tembhi Naka, Thane
– 400601, India |
|
Date of Birth / Age: |
15.08.1987 |
|
Date of Appointment : |
16.08.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 04.05.2012
|
Names of Shareholders |
No. of Shares |
|
Jurgen Wolf |
1 |
|
Hafele Holding |
42106804 |
|
Total |
42106805 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 04.05.2012
|
Category |
Percentage |
|
|
|
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Distributor of furniture fittings etc |
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|
|
|
Imports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· China · Germany · Thailand |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit and Depend |
GENERAL INFORMATION
|
Customer: |
Corporation |
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|
|
|
No. of Employees : |
450 (Approximately) |
|
|
|
|
Bankers : |
· Deutsche Bank, 222, Kodad House, D.N. Road, Fort, Mumbai - 400001, Maharashtra, India ·
Citibank NA ·
HDFC Bank, Mumbai, Maharashtra, India |
|
|
|
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Facilities: |
-- |
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Banking
Relations : |
-- |
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|
|
|
Auditors 1 : |
|
|
Name : |
Borkar and Muzumdar Chartered Accountants |
|
Address : |
235-37, Peninsula House, Dr. D.N. Road, Fort, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-26691254 to 26691257 |
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Fax No.: |
91-22-26691233 |
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E-Mail : |
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PAN.: |
AAAEB3194J |
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Auditors 2 : |
|
|
Name : |
E and Y. (Ernst and Young) Chartered Accountants |
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Holding Company:
|
Hafele Holding GmbH and Company |
|
|
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Subsidiary of
Holding Company: |
· Hafele GmbH and Company Kg. · Hafele Australia Pty. Limited · Hafele America Company · Hafele Berlin GmbH and Company Kg. · Hafele (Thailand) Limited · Hafele Taiwan Limited · Hafele U.K. Limited · Hafele Mobilya ve Insaat Donanimlari · Hafele Argentina S.A · Hafele Austria GmbH · Hafele Belgium N.V/S.A. · Hafele Brazil Limited · Hafele Canada Inc. · Hafele Denmark · Hafele France · Hafele Ireland Limited · Hafele Italia · Hafele Japan K.K · Hafele Korea Inc · Hafele de Mexico S.A · Hafele (Malaysia) SDN BHD · Hafele Nederland B.V · Hafele N.Z. Limited · Hafele Hardware Technology (China) Company Limited · Hafele Philippines Inc. · Hafele Polska Sp. · Hafele Russia LLC · Hafele South Africa Pty. Limited · Hafele Singapore PTE Limited · Hafele Ukraine · Hafele Vina Company Limited · Hafele Enginieering Verwaltungs-GmbH · Hafele Schweiz AG · Hafele Czech and Slovakia s.r.o. · Hafele Engineering Asia HK Limited · Hfele Herrajes Espana S.L. · Hfele Engineering Trading Shenzhen Limited · Hafele Kazakhstan GmbH · Hfele Indotama · Hafele Romania SRL · Hafele Serbia d.o.o · Hfele + Thierer Berlin Verwaltungsgesellschaft mbH · Hfele + Thierer Verwaltungsgesellschaft mbH · Ulrich Lippert GmbH and Company KG · Maxifix Realty Serv Corporation (MRSC) · Sphinx Electronics Verwaltungsgesellschaft mbH · Anton Schneider GmbH and Company KG · Anton Schneider Verwaltungsgesellschaft mbH · Huwil Butoripari es zletberendezesi Rendszerek Kft · Toplifter Beteiligungs- und Vertriebs GmbH · Realty Ingatlan Korlatolt Felesseg Carasasag · Sphinx Electronics GmbH and Company Kg ·
Hafele Engineering GmbH and Company KG |
CAPITAL STRUCTURE
AS ON: 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42200000 |
Equity Shares |
Rs.10/- each |
Rs. 422.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42106805 |
Equity Shares |
Rs.10/- each |
Rs. 421.068 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
421.068 |
421.068 |
421.068 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
154.217 |
151.586 |
135.991 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
575.285 |
572.654 |
557.059 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
62.265 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
62.265 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
637.550 |
572.654 |
557.059 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
218.035 |
200.178 |
187.959 |
|
|
Capital work-in-progress |
0.000 |
3.091 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
472.991
|
333.248
|
211.850
|
|
|
Sundry Debtors |
243.181
|
179.616
|
179.412
|
|
|
Cash & Bank Balances |
15.741
|
36.084
|
106.207
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
36.928
|
22.215
|
11.320
|
|
Total
Current Assets |
768.841
|
571.163
|
508.789 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
181.117
|
80.922
|
65.264
|
|
|
Other Current Liabilities |
125.557
|
66.305
|
64.589
|
|
|
Provisions |
42.652
|
54.551
|
9.836
|
|
Total
Current Liabilities |
349.326
|
201.778
|
139.689
|
|
|
Net Current Assets |
419.515
|
369.385
|
369.100
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
637.550 |
572.654 |
557.059 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1187.350 |
1021.500 |
744.840 |
|
|
|
Other Income |
31.610 |
18.460 |
13.880 |
|
|
|
TOTAL |
1218.960 |
1039.960 |
758.720 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
1119.410 |
901.700 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1119.410 |
901.700 |
663.310 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
99.550 |
138.260 |
95.410 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.760 |
26.730 |
10.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
69.790 |
111.530 |
84.760 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
27.030 |
41.920 |
29.770 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
42.760 |
69.610 |
54.990 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
130.310 |
121.670 |
79.070 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.280 |
6.960 |
5.500 |
|
|
|
Dividend |
34.530 |
46.320 |
5.890 |
|
|
|
Tax on Dividend |
5.600 |
7.690 |
1.000 |
|
|
BALANCE CARRIED
TO THE B/S |
128.660 |
130.310 |
121.670 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5.322 |
2.636 |
5.058 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.02 |
1.65 |
1.89 |
|
|
Particulars |
|
31.12.2013 |
31.12.2012 |
|
Sales Turnover (Approximately) |
|
2100.000 |
1760.00 |
The above information has been parted by Mr. Anthony Jerson (Senior
Manager Finance)
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
3.51
|
6.69
|
7.25
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.88
|
10.92
|
11.38
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.07
|
14.46
|
12.17
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.19
|
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.11
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20
|
2.83
|
3.64
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
|
|
|
Creditors due small micro enterprises |
0.000 |
0.000 |
65.264 |
|
Creditors due others |
181.117 |
80.922 |
0.000 |
|
Total |
181.117 |
80.922 |
65.264 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
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 |
No |
NOTE:
The registered office of the company has been shifted from 4th
Floor JMC House Bisleri Compound, Western Express High-Way, Andheri (East),
Mumbai-400099, Maharashtra, India to the present address w.e.f. 16.07.2010
REVIEW OF PERFORMANCE
There was a growth of 16.23% in the turnover of the Company
increasing it to Rs. 1187.350 millions (previous year Rs. 1021.500 millions)
and the net profits were Rs. 42.760 millions (previous year Rs. 69.610
millions) after provision for taxes and fringe benefit taxes.
UNSECURED LOAN
|
PARTICULARS |
Rs.
In Millions 31.12.2011 |
Rs.
In Millions 31.12.2010 |
|
Working capital loans banks unsecured |
62.265 |
0.000 |
|
TOTAL |
62.265 |
0.000 |
FIXED ASSETS
·
Leasehold
Premises
·
Computers
·
Motor
Vehicle
·
Office
Equipment
·
Furniture
and Fixtures
·
Building
PRESS RELEASE:
IN
CONVERSATION WITH SOCIETY INTERIORS JUERGEN WOLF, MD, HAFELE INDIA
PRIVATE LIMITED, TALKS ABOUT
HIS COMPANY'S EXPANSION PLANS FOR INDIA, HIS SUCCESS MANTRA AND THE BRAND'S
JAM-PACKED EVENTS SCHEDULE FOR 2013.
Can you share with our readers the success
mantra of the company that distinguishes it from its competitors?
The very foundation
of our success is integrity. We come from a German, family-owned background, so
our values are, I suppose, what you would describe in today's business
environment as old fashioned. We truly believe in giving our customers not only
the best products but the best customer service as well. I also think that in
this cut throat competitive times, our customers, more than ever, want to trust
a brand. The fact that we have succeeded in recreating this culture of honesty,
transparency and customer focus also at Hafele India is at the core of our
success.
It is undeniable that a new brand always
faces the difficultly of breaking the monopoly of the existing Indian brands in
the market How did you gradually win over the confidence of the consumer
It is important
to bear in mind that we, as a brand, have been in this country for more than 11
years now. In 2001, the local competition was not yet very strong. At that
time, our biggest challenge was the "cheap is good" attitude in the
market. As for today's market environment, there has been a complete sea change
in our customer's perceptions of a brand like ours. Many have been through the
cheap quality experience and simply want a better product and service these
days. Also customers trust a brand that can provide them with the quality and
image that comes from a premium brand like Hafele.
Tell us more about most popular ranges in
India from Hafele.
Without a
doubt our range of kitchen fittings is at the core of our business with almost
50 per cent of our total turnover. However, we are positioning Hafele as the
complete interiors fitting supplier and have, in the past few years, ventured
into new categories which underline this strategy. We are already
well-established with architectural door hardware fittings in projects all over
the country. Sliding is another strong competency of Hafele where we now have
the largest range available for all applications in furniture and for doors.
New verticals like lighting as well as kitchen appliances have taken off well
and providing us with additional recognition as the one-stop shop for all
interior fittings solutions.
Also, can you lend an insight into what is
new from the various segments that Hafele has to offer?
This is a
tough question as we are launching new products almost on a monthly basis. In
fact, staying at the cutting-edge of trends is one of the particular strengths
of Hafele. I am willing to bet that there is no other competitor out there who
can match our range of innovations.
The premium segment has always been a forte
of the company. Can you tell us what are you planning to introduce soon in this
regard
Two things
come to mind here. Firstly, we will be launching Germany's iconic Refrigeration
brand "Liebherr" early next year and for washing/ drying appliances,
you will see ASKO from Sweden being introduced. These two top brands will
complete our offering of premium appliances. The second highlight will be the
introduction of our premium sanitary fittings range. We will offer cutting-edge
designs and technology for designer taps, unique shower experiences and stylish
bath accessories.
What is the kind of response you are getting
from the latest brand launches?
It will
take some time to create credibility in segments like lighting and appliances
and sanitary, since Hafele is not traditionally known for these product
categories. I feel, however, that by now Hafele has achieved broad acceptance
with our customers. They know that whatever comes from us is innovative, of
good quality and backed by good service. This is facilitating these new
launches which, without exception, are going extremely well.
Do you have plans of opening any more
experience center in India?
Yes, we
are building the new Delhi Design Centre, in Okhla II, at this moment and will
open at the beginning of March next year. Also in Mumbai, we are finally
getting a new state-of-the-art Design Centre, which is going to open in Mulund
in April. In the course of 2013, we will also move to new and larger locations
in Kolkata and Chennai. The new Bengaluru Design Centre was just opened a month
ago and is receiving a fantastic response from our customers.
What other future plans do you have for the
Indian Market?
Well, we have
our hands full for the next year. Apart from opening all our new Design
Centers, we will also open at least 15 new Hafele franchise shops to further
increase our market penetration. With regards to products, you will see a lot
of marketing activities to launch our new brand portfolio. Not to forget that
it is Hafele India's 10th anniversary and Hafele Germany's 90th anniversary
next year as well. They will both be marked with a series of events. We are
also investing heavily in enhancing our technical support and customer services
and we will open a new state of-the-art distribution centre in March. And these
are just the highlights. I need a holiday just thinking about 2013
“SATINOOD KITCHEN” AN
EXCLUSIVE HÄFELE KITCHEN STUDIO IN CHENNAI
Häfele India launches an exclusive Häfele’s Kitchen Studio in Chennai,
India. Satinood Kitchen with Häfele is one of the latest destination and one
Stop shop for complete architecture hardware solutions, furniture fittings,
kitchen fittings solutions and designs from Häfele. The studio is spread across
approximately 1500 sqft of internationally acclaimed range of innovative
product that have inspired architects and interior contractors across the
world.
With Häfele as the Kitchen Hardware Partner, Satinood Kitchen will feature the complete range of kitchen fittings, kitchen appliances, and kitchen lighting from the house of Hafele. The Kitchen Studio will enable customers to touch and feel the fittings in application before purchasing them. It will also give customers a complete overview and enable them to make an informed decision; which fittings will best suit their individual taste. With the exclusive kitchen design studio, Häfele has created a chain of uniform, high quality Häfele branded retail outlets across the country through such franchisees.
Commenting on the Häfele Kitchen Studio, Mr. Jürgen Wolf, Managing director, Häfele India Private Limited says, “With the launch of this Kitchen Studio, we is committed to identify and understand the specific needs of their customers across segments and provide them with desired fitting solutions. All our products stand for quality and design keeping their functionality at the top of the mind.”
About Häfele:
Häfele GmbH set foot in India in 2001 as a liaison office essentially
handling Hospitality projects for its line of Access Control Systems – Dialock.
The growing hardware demand and the increasing architectural maturity motivated
the company to start full commercial operations in India in 2003 as a wholly
owned subsidiary by the name, Häfele India Private Limtied. With its head
office in Mumbai, 6 regional offices with Design Centers in all major metros
and sales presence across the country, Häfele India has, over the last 9 years,
acquired a leading position in the Indian Architectural Hardware Industry.
Backed by the encouragement and constant motivation of Mr. Jürgen Wolf,
Managing Director, employees at Häfele take responsibility for their learning.
Häfele India lays pride in its diverse range of quality products, well-networked
channel partners and unmatched service to customers. In addition to this, the
subsidiary is the sole distributor in India, since 2004, to BLUM – an Austrian
kitchen fittings manufacturer and world leader. Today, Häfele India employs
over 300 people who cater to a wide customer base with the help of an efficient
distribution network, comprehensive logistics system and a sophisticated
warehouse located in Mumbai.
“DESIGN EL GRANDE”
AN EXCLUSIVE HÄFELE
DESIGN STUDIO IN SHILLONG
Häfele, the world leader in architectural hardware, furniture and
kitchen fittings launches its exclusive Design studio, Design le Grande in
Shillong; Häfele is one of the latest destination and one Stop shop for
complete interior fittings solutions and designs. Located at Malki Point in
Shillong, the exclusive design studio spreads across approximately 800 sqft of
internationally acclaimed range of innovative product that have inspired
architects and interior contractors across the world.
With Exclusive franchises in India, Nepal, Sri Lanka, Bhutan and Bangladesh, the German company Häfele is now ready to set foot in Shillong with its wide range of interior fitting solutions that matches individual tastes and meets specific requirements while providing the latest innovations from the world over.
The new Häfele design studio will feature not just the complete range of architects and Interior Fittings solutions but will also host kitchen appliances, lighting and Sliding Solutions from the house of Hafele. The Design studio will enable customers to touch and feel the fittings in application before purchasing them. It will also give customers a complete overview and enable them to make an informed decision; which fittings will best suit their individual taste.
Commenting on the Hafele design studio in Shillong, Mr. Jürgen Wolf, Managing director, Häfele India Private Limited says, “With the launch of this design studio Hafele aims at bringing internationally acclaimed and innovative hardware and kitchen fitting solutions to Shillong. Häfele is committed to identify and understand the specific needs of customers, architects and interior contractors across segments and provide them with desired fitting solutions. All Häfele products stand for quality and design keeping their functionality at the top of the mind.”
About Häfele:
Häfele was established in 1923 in Nagold, Germany, and turned from a local specialist hardware business into a global company by the Häfele and Thierer families, who were the original owners. The Häfele group of companies is now managed by the third generation of family members. The legal form of GmbH and Company KG is another typical feature of a German family-owned company. Today, Häfele is one of the leading international companies for furniture fittings, architectural hardware, electronic locking systems and technical hardware advice. Its customers include the furniture industry, the furniture trade, interior fitters, and hardware dealers, building investors, architects, planners and authorities in more than 150 countries. Today, Häfele’s worldwide penetration includes 39 subsidiaries across Europe, America, Asia, Australia and New Zealand. The Häfele worldwide workforce is empowered by a base of 5600 employees. The group services over 150,000 customers across the globe through its extensive range of hardware products and a comprehensive logistics system.
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. 58.74 |
|
|
1 |
Rs. 91.99 |
|
Euro |
1 |
Rs. 78.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.