1. Summary Information
|
Country |
|
||
|
Company Name |
EPCOS INDIA
PRIVATE LIMITED |
Principal Name 1 |
Mr. Hari Shankar
Banerjee |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Balakrishnan Natarajan |
|
Registration # |
21-030763 |
||
|
Street Address |
Kulia Kancharapara, P.O. Netaji Subhash Sanatorium, Kalyani, Nadia -
741251, West Bengal, India |
||
|
Established Date |
08.11.1976 |
SIC Code |
-- |
|
Telephone# |
91-253-2205103 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-253-2353761 |
Business Style 2 |
Seller |
|
Homepage |
Product Name 1 |
Ferrite Cores |
|
|
# of employees |
Not Divulged |
Product Name 2 |
Capacitors |
|
Paid up capital |
Rs.886,013,790/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 100.00% |
Banking |
Citi
Bank N.A. |
|
Public Limited Corp. |
No |
Business Period |
37 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
Germany |
Epcos AG |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,893,460,000 |
Current Liabilities |
2,198,940,000 |
|
Inventories |
1,128,700,000 |
Long-term Liabilities |
2,209,880,000
|
|
Fixed Assets |
2,132,890,000 |
Other Liabilities |
121,550,000 |
|
Deferred Assets |
22,630,000 |
Total Liabilities |
4,530,370,000 |
|
Invest& other Assets |
963,420,000 |
Retained Earnings |
724,720,000 |
|
|
|
Net Worth |
1,610,730,000 |
|
Total Assets |
6,141,100,000 |
Total Liab. & Equity |
6,141,100,000 |
|
Total Assets (Previous Year) |
4,544,966,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
6,209,980,000 |
Net Profit |
200,990,000 |
|
Sales(Previous yr) |
5,770,373,000 |
Net Profit(Prev.yr) |
254,095,000 |
MIRA INFORM REPORT
|
Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
EPCOS INDIA PRIVATE
LIMITED |
|
|
|
|
Formerly Known
As : |
INTERNATIONAL FERRITES LIMITED |
|
|
|
|
Registered
Office : |
Kulia Kancharapara, P.O. Netaji Subhash Sanatorium, Kalyani, Nadia -
741251, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.11.1976 |
|
|
|
|
Com. Reg. No.: |
21-030763 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.886.010
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92131WB1976PTC030763 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKE00321G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of ferrite cores and capacitors |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of Epcos AG, Germany and a part of Epcos
Group, Worldwide. It is an established company having satisfactory track record. There
appears some dip in the profitability of the company during current year.
However, trade relations are reported as fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered normal for 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the outbreak
of the global financial crisis, the world economy continues to remain fragile.
The Indian economy demonstrated remarkable resilience in the initial years of
the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood opportunities
for the millions living in poverty as also the large contingent of young people
joining the job market every year.
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-COOPERATIVE (Tel. No.: 91-80-40390615)
LOCATIONS
|
Registered Office : |
Kulia Kancharapara, P.O. Netaji Subhash Sanatorium, Kalyani, Nadia -
741251, West |
|
Tel. No.: |
91-253-2205103/
2353756/ 2353760/ 2205106/ 22055100/
33-25891410 |
|
Fax No.: |
91-253-2353761/ 33-25891418 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory/
Godown : |
Plot No. E-22/25,
MIDC Industrial Area, Satpur, Nasik-422007, |
|
Tel. No. |
91-253-2353756 |
|
Fax No. |
91-253-2353761 |
|
Area : |
24000 sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at : ·
· Kolkata, West Bengal · Mumbai, Maharashtra · Bangalore, Karnataka |
DIRECTORS
AS ON 28.08.2012
|
Name : |
Mr. Hari Shankar
Banerjee |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
G 18 and 19, Serene Meadows, |
||||||||||||||||||
|
Date of Birth/Age : |
05.07.1958 |
||||||||||||||||||
|
Date of Appointment : |
01.05.2013 |
||||||||||||||||||
|
DIN No.: |
00041860 |
||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Balakrishnan Natarajan |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
A 804, Mantri Elegance, N S Palya, |
||||||||||||||||||
|
Date of Birth/Age : |
01.06.1957 |
||||||||||||||||||
|
Date of Appointment : |
01.10.2012 |
||||||||||||||||||
|
DIN No.: |
00112332 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Norbert Hess |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
Toelzer Str. 33 Gruenwald, 82031 |
||||||||||||||||||
|
Date of Birth/Age : |
20.02.1960 |
||||||||||||||||||
|
Date of Appointment : |
28.08.2012 |
||||||||||||||||||
|
DIN No.: |
05355005 |
||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Jayesh Kumar
Thakkar |
|
Designation : |
Secretary |
|
Address : |
D – 1, Atharva
Bungalows, Kale Nagar, |
|
Date of Birth/Age : |
23.09.1977 |
|
Date of Appointment : |
09.12.2008 |
|
PAN No : |
ADNPT6321K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.08.2012
|
Names of Shareholders |
No. of Shares |
|
EPCOS AG, |
88601337 |
|
EPCOS AG Jointly with EPCOS Electronic Components S.
A., |
42 |
|
TOTAL
|
88601379 |
AS ON 28.08.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
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 : |
Manufacturer and Seller of ferrite cores and capacitors |
PRODUCTION STATUS (AS ON: 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
AC
Capacitors and Sprayed Coils |
Nos |
31130 |
|
Moralized
Film |
Kgs |
1765 |
|
DC
Capacitors |
Nos |
233645 |
|
Soft
Ferities |
Kgs |
3054 |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· Citi Bank N.A., 41, Chowringhee Road, Kolkata – 700071, West Bengal, India · Deutsche Bank, Hazarimal Somani Marg, Near Sterling Cinema, Fort, Mumbai – 400001, Maharashtra, India · Citi Bank, 2413, Kumar Capital, East Street, Camp, Pune - 411001, Maharashtra, India · The Hongkong and Shanghai Banking Corporation Limited, “Hongkong Bank”, 31 B B D Bag, Kolkata - 700001, West Bengal, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
C-401, 4th Floor, Panchshil Tech park, Yerwada, Pune-411
006, |
|
PAN No.: |
AALFS0506L |
|
|
|
|
Holding Company : |
Epcos AG, Germany |
|
|
|
|
Ultimate Holding Company : |
TDK EPC Corporation, Japan |
|
|
|
|
Fellow Subsidiaries : |
· EPCOS Do Brazil Ltda, Brazil · EPCOS, S.R.O, Czech Republic · EPCOS Zhuhai Company Limited, China · EPCOS Zhuhai (FTZ) Company Limited, China · EPCOS Pte Limited, Singapore · EPCOS Elektronikai Alkatresz Kft., Hungary · EPCOS Limited, Hong Kong · EPCOS Inc., Iselin, USA · EPCOS OHG Deutschlandberg, Austria · EPCOS Anhui Feida Electronics Company, China · EPCOS Electronic Components, S.A., Malaga · EPCOS SDN BHD, Malaysia |
|
|
|
|
Other Related Parties |
· TDK Xiamen Company Limited · TDK Taiwan Corporation · TDK Singapore (Pte.) Limited ·
TDK Corporation Japan |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.10/- each |
Rs. 900.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
88601379 |
Equity Shares |
Rs.10/- each |
Rs. 886.010
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
886.010 |
|
(b) Reserves & Surplus |
|
|
724.720 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
1610.730 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
1537.410 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
28.330 |
|
Total Non-current
Liabilities (3) |
|
|
1565.740 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
672.470 |
|
(b) Trade
payables |
|
|
1267.140 |
|
(c) Other
current liabilities |
|
|
931.800 |
|
(d) Short-term
provisions |
|
|
93.220 |
|
Total Current
Liabilities (4) |
|
|
2964.630 |
|
|
|
|
|
|
TOTAL |
|
|
6141.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
1974.620 |
|
(ii)
Intangible Assets |
|
|
158.270 |
|
(iii)
Capital work-in-progress |
|
|
963.420 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
22.630 |
|
(d) Long-term Loan and Advances |
|
|
139.450 |
|
(e) Other
Non-current assets |
|
|
2.080 |
|
Total Non-Current
Assets |
|
|
3260.470 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
1128.700 |
|
(c) Trade
receivables |
|
|
1050.150 |
|
(d) Cash
and cash equivalents |
|
|
220.860 |
|
(e)
Short-term loans and advances |
|
|
273.020 |
|
(f) Other
current assets |
|
|
207.900 |
|
Total
Current Assets |
|
|
2880.630 |
|
|
|
|
|
|
TOTAL |
|
|
6141.100 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
886.014 |
886.014 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
523.701 |
269.606 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1409.715 |
1155.620 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
535.000 |
698.020 |
|
|
2] Unsecured Loans |
|
1373.070 |
840.516 |
|
|
TOTAL BORROWING |
|
1908.070 |
1538.536 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
6.658 |
|
|
|
|
|
|
|
|
TOTAL |
|
3317.785 |
2700.814 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1663.622 |
1394.300 |
|
|
Capital work-in-progress |
|
222.245 |
179.231 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
965.316
|
683.083
|
|
|
Sundry Debtors |
|
1152.466
|
1061.696
|
|
|
Cash & Bank Balances |
|
216.345
|
66.774
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
313.066
|
262.395
|
|
Total
Current Assets |
|
2647.193
|
2073.948 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
804.958
|
634.199 |
|
|
Other Current Liabilities |
|
315.456
|
277.165 |
|
|
Provisions |
|
106.767
|
35.301 |
|
Total
Current Liabilities |
|
1227.181
|
946.665 |
|
|
Net Current Assets |
|
1420.012
|
1127.283 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
Other Assets |
|
11.906 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3317.785 |
2700.814 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
6209.980 |
5770.373 |
4537.200 |
|
|
|
TOTAL |
6209.980 |
5770.373 |
4537.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
4970.334 (Including
Financial Expenses) |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
815.310 |
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
159.190 |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
656.120 |
800.039 |
711.829 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
357.230 |
300.138 |
443.508 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
298.890 |
499.901 |
268.321 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
97.900 |
245.806 |
59.658 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
200.990 |
254.095 |
208.663 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
3023.335 |
2224.089 |
|
|
|
Agency Commission |
|
40.561 |
27.967 |
|
|
|
Discount received |
|
3.244 |
1.743 |
|
|
|
Others(Misc other Income) |
|
0.698 |
2.911 |
|
|
TOTAL EARNINGS |
NA |
3067.838 |
2256.710 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
1490.801 |
1021.382 |
|
|
|
Stores & Spares |
|
69.986 |
50.837 |
|
|
|
Capital Goods |
|
205.506 |
191.109 |
|
|
|
Trading Goods |
|
103.143 |
142.243 |
|
|
TOTAL IMPORTS |
NA |
1869.436 |
1405.571 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
2.27 |
2.87 |
2.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.24
|
4.40 |
4.60
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.90
|
11.60 |
7.74
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.35 |
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.37
|
1.35 |
1.33
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
2.16 |
2.19
|
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) |
Yes |
|
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 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOAN
|
PARTICULAR |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWING |
|
|
Term Loans From Others |
1537.410 |
|
SHORT TERM
BORROWING |
|
|
Working Capital Loans From Banks |
672.470 |
|
Total |
2209.880 |
|
Unsecured Loan |
31.03.2011 (Rs.
In Millions) |
|
Other debt unsecured |
1373.070 |
|
Total |
1373.070 |
CORPORATE INFORMATION
Subject is a
private limited Company domiciled in India and incorporated on November 8, 1976
under the Companies Act, 1956. The Company is a wholly owned subsidiary of
EPCOS AG, Germany (the Holding Company). The Company is engaged in the
manufacturing and selling of ferrite cores and capacitors.
REVIEW OF BUSINESS
OPERATIONS
During the year
ended 31st March 2012, there was a continued reduction in Order Income
pursuant to slowdown in the Indian economy, the Tsunami in Japan and the
European monetary crisis. In spite of this Company managed to still show a
marginal growth of 7%, as total revenue increased to Rs. 6,210 Mio, from Rs.
5,770 Mio in the previous year. EBITDA was also marginally down to Rs. 815.3
Mio (at 13.2% of Revenue) as compared to Rs. 893.1 Mio (at 15.5% Revenue) for
the previous year. Increased material and employee costs due to high inflation
and higher import costs due to continuous devaluation resulted in lower EBIDTA.
Depreciation and Interest costs were higher as compared to previous year due to
the impact for full year of the new Plant capitalized last year in Feb 2011 at
Bawal near Delhi. The profit before tax (PBT) was correspondingly lower at Rs.
299 Mio as compared to Rs. 499 Mio in the previous year.
During the year
the company commenced production of new generation PCCLP capacitors with
technical knowhow from EPCOS AG for application in Hybrid electric vehicles.
FUTURE OUTLOOK
The market
scenario continues to be subdued both in the domestic and export segments. The
Indian Central government is planning to introduce adequate measures to induce
growth to around 9% from the current level of 6% after successfully controlling
inflation. Measures taken by the US and European countries is also expected to
induce growth in the export segment. The company therefore expects marginal
growth in the main product segments in the future. The company has also decided
to set up its own facility in Bawal for manufacture medium voltage and low
voltage oil filled capacitors and in Kalyani for transformers. The company
expects substantial growth from these segments. The Company will continue its
focus on product developments in existing AC, PFC and DC capacitors, Ferrite
cores in order to provide a comprehensive range, cater to additional segments
and also maintain cost competitiveness. Apart from the market situation, the
Company is continuously focusing on productivity improvement, effective cost control
and efficient management of resources for achieving profitable growth.
FIXED ASSETS
· Freehold Land
· Leasehold Land
· Building
· Plant and Machinery
· Computers
· Vehicles
· Furniture and Fittings
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.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.