|
Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
WUERTH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shivam Building, Plot No. EL-146, Near L & T Infotech, TTC, MIDC,
Mahape Navi Mumbai-400710, Maharashtra
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.10.1994 |
|
|
|
|
Com. Reg. No.: |
11-082364 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 10.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29200MH1994PTC082364 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Automobile Equipments, Chemical Products and Tools
Equipments for Car Care and Maintenance. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has incurred a loss during current year. External borrowings of the company
are also huge. Trade relations are reported as fair. Business is active.
Payments are reported to be slow. 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.
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 : |
Ms. Vinita |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-67377600 |
|
Date : |
06.05.2013 |
LOCATIONS
|
Registered Office : |
Shivam Building, Plot No. EL-146, Near L & T Infotech, TTC, MIDC,
Mahape Navi Mumbai-400710, Maharashtra, India |
|
Tel. No.: |
91-22-65170334 / 24934125 / 24938403 |
|
Fax No.: |
91-22-24930191 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office 1: |
349, Patparganj Industrial Estate, Delhi-110092, India |
|
Tel. No.: |
91-11-43012158 / 68 / 78 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2: |
P-56, Hide Road Extension, Near Brace Bridge Railway Station,
Kolkata-700088, West Bengal, India |
|
|
|
|
Branch Office 3: |
Plot No. 139, Door No.104, Secretariat Colony, 9th Street Kilpauk, Chennai-600010, Tamilnadu,
India |
|
Tel. No.: |
91-44-25323456 / 57 |
|
Fax No.: |
91-44-25323453 |
|
E-Mail : |
DIRECTORS
As on 30.11.2012
|
Name : |
Michel Kern |
|
Designation : |
Additional Director |
|
Address : |
Heckenweg 6, 7205 Zizers Gr, Zizers, Switzerland |
|
Date of Birth/Age : |
02.01.1959 |
|
Date of Appointment : |
25.11.2010 |
|
DIN No.: |
03180644 |
|
|
|
|
Name : |
Peter Julius Zurn |
|
Designation : |
Additional Director |
|
Address : |
Schontal, Ortsteil Westernhausen, Ortsteil Western Hausen, 74214,
Germany |
|
Date of Birth/Age : |
03.11.1959 |
|
Date of Appointment : |
05.08.2011 |
|
DIN No.: |
03585274 |
|
|
|
|
Name : |
Mr. Ramchandra Murlidhar Hattangadi |
|
Designation : |
Additional Director |
|
Address : |
B-16, Flat No.72 ,Vijay Nagari, Annexe Godbunder Road, Kavesar Thane
(West), Thane-400607, Maharashtra, India
|
|
Date of Birth/Age : |
07.06.1969 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
05165162 |
|
|
|
|
Name : |
Mr. Saiprasad Kameswara Rao Vaddadi |
|
Designation : |
Additional Director |
|
Address : |
No. 47/45, 2nd Floor, Vishwams Appartment, Sadullah Street,
T Nagar, Chennai-600017, Tamilnadu, India
|
|
Date of Birth/Age : |
18.06.1973 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
05183085 |
KEY EXECUTIVES
|
Name : |
Ms. Vinita |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.11.2012
|
Names of Shareholders |
|
No. of Shares |
|
Navnitray Ranchhodlal Trivedi |
|
1 |
|
Wuerth International AG, |
|
9999 |
|
Total |
|
10000 |
As on 30.11.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Automobile Equipments, Chemical Products and Tools
Equipments for Car Care and Maintenance. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers : |
Retailers, Dealers and End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
700 (Approximately) |
||||||||||||
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|
||||||||||||
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Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Note: Loan carries interest rate ranging from 10.5% to 14.0%. The loan is
repayable in the form of equalized monthly installments for a term ranging
from 0 to 5 years. Secured against hypothecation of vehicles |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SRBC and Company Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Mumbai-400028,
Maharashtra, India |
|
Tel. No.: |
91-22-61920000 |
|
Fax No.: |
91-22-61921000 |
|
PAN No.: |
ABSFS4151K |
|
|
|
|
Holding Company : |
Wuerth Internation AG, Switzerland |
|
|
|
|
Fellow Subsidiaries : |
·
Marion Wuerth India Private Limited ·
Wuerth Industrial Services India Private Limited ·
Bettina Wuerth Auto India Private Limited ·
Reinhold Wuerth India Private Limited ·
Adolf Wuerth GmbH and Company KG ·
Wuerth International Trading (Shangahi) Company
Limited ·
PHG GMBH ·
Wurth Itensis AG ·
Wurth Online World GmbH ·
Marbet Marion and Bettina Wurth GmbH and Company
KG ·
Wurth International Trading America, Inc. ·
Wurth Phoenix B.V. ·
Wuerth Finance International B.V. ·
HAHN+Kolb Tools Private Limited ·
MKT
Metall- Kunstsoff-Technik Gmbh and Company KG ·
Wuerth OY, Finland ·
Swiridoff Verlag Gmbh and Company KG |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.1000/- each |
Rs. 10.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
33.577 |
79.245 |
80.545 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
43.577 |
89.245 |
90.545 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.576 |
0.396 |
1.417 |
|
|
2] Unsecured Loans |
160.531 |
46.226 |
17.933 |
|
|
TOTAL BORROWING |
162.107 |
46.622 |
19.350 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.289 |
|
|
|
|
|
|
|
|
TOTAL |
205.684 |
135.867 |
110.184 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
36.589 |
30.065 |
17.231 |
|
|
Capital work-in-progress |
12.945 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
2.828 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
131.907
|
62.945 |
40.260 |
|
|
Sundry Debtors |
183.843
|
102.807 |
79.988 |
|
|
Cash & Bank Balances |
19.614
|
23.018 |
17.244 |
|
|
Other Current Assets |
0.150
|
0.150 |
0.000 |
|
|
Loans & Advances |
25.567
|
13.452 |
5.252 |
|
Total
Current Assets |
361.081
|
202.372 |
142.744 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
182.363
|
76.958 |
28.908 |
|
|
Other Current Liabilities |
17.774
|
16.355 |
17.557 |
|
|
Provisions |
4.794
|
6.085 |
3.326 |
|
Total
Current Liabilities |
204.931
|
99.398 |
49.791 |
|
|
Net Current Assets |
156.150
|
102.974 |
92.953 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
205.684 |
135.867 |
110.184 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
664.500 |
430.200 |
306.400 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.538 |
3.253 |
1.713 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(43.533) |
9.947 |
21.690 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading goods |
126.959 |
65.230 |
51.465 |
|
|
TOTAL IMPORTS |
126.959 |
65.230 |
51.465 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4353.30) |
994.70 |
2169.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.72
|
0.52 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
2.04 |
2.87 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade Payable |
182.363
|
76.958 |
28.908 |
|
|
|
|
|
|
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) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
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 |
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 320 T V
Industrial Estate, Off Dr A B RD, Behind Glaxo, Worli, Mumbai-400025,
Maharashtra, India to the present address w.e.f. 02.04.2012
CORPORTAE
INFORMATION
Subject is a company incorporated under the provisions of companies Act,
1956. The company is engaged in trading of materials and providing services in
India, It has various branches across India.
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Cash Credit from banks |
160.531 |
46.226 |
|
Total |
160.531 |
46.226 |
Note
Cash credit from banks is secured against corporate guarantee and stand
by letter of credit given by Wuerth Finance B.V. The Cash Credit is repayable on
demand and carries interest @11.5% to 13% p.a.
CONTINGENT
LIABILITIES Not Provided For:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Excise duty |
0.100 |
|
Commercial Tax Matter |
0.130 |
|
VAT matter |
2.975 |
|
Total |
3.205 |
FIXED ASSETS
·
Computer
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Leasehold Improvements
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.84.03 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
28 |
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.