MIRA INFORM REPORT
|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCHOTT GLASS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Dynasty, A-Wing, 303 and 304, 3rd Floor, Opposite Sangam, Theatre,
Andheri – Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra |
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|
Country : |
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|
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Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
05.12.1997 |
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|
|
|
Com. Reg. No.: |
11 -112295 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs. 671.679 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26100MH1997PTC112295 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01425E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS8583L |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of Neutral Glasses. |
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|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3300000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “Schott Glaswerke Beteiligungs Gmbh”. It is
an established company having moderate track. The company possesses a moderate financial profile marked by consecutive
losses since 2011-12 due to which the reserves of the company are gradually
deteriorating during 2013. Further, the management undertakes working capital intensive
operations which increases the reliance on short term debt. The ratings also take into consideration the established brand
position in India, as the plant established in India is a dedicated unit for
manufacturing special glass tubes for pharmaceutical packaging branded as
“Fiolax” which are used almost by all pharmaceutical companies in India. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of technical, managerial and financial support from its
holding company, the subject 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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. Prakash |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-2644-220216 |
|
Date : |
08.04.2014 |
LOCATIONS
|
Registered Office : |
Dynasty, A-Wing, 303 and 304, 3rd Floor, Opposite Sangam,
Theatre, Andheri – |
|
Tel No.: |
91-22-28266100 / 40947000 |
|
Fax No.: |
91-22-28266097 / 40947001 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Village-Ankhi, Taluka-Jambusar, District-Bharuch, |
|
Tel. No.: |
91-2644220216 / 222573 |
|
Fax No.: |
91-2644220227 |
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E-Mail : |
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|
Location : |
Owned |
|
|
|
|
Pune Office : |
307, South Wing, Sacred World, Wanwadi Pune - 411040 India |
|
Tel. No.: |
91-20-40091695 |
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Fax No.: |
91-20-40092273 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Supransu Bandyopadhyay |
|
Designation : |
Whole time director |
|
Address : |
401, Srimadh Apartment, Nilkantha Society, Beside Krishna Duplex, Vasna Road, Vadodara – 390015, Gujarat, India |
|
Date of Birth/Age : |
28.05.1961 |
|
Date of Appointment : |
13.11.2008 |
|
DIN No.: |
02434434 |
|
|
|
|
Name : |
Mr. Stefan Anreas Laetsch |
|
Designation : |
Director |
|
Address : |
Novel Century, Tower 11 and 12, Lane 81, Xin Geng Road, Xuhui District, Shama Xujiahlii, Shanghai, 200030, China_ |
|
Date of Birth/Age : |
04.08.1963 |
|
Date of Appointment : |
18.05.2010 |
|
DIN No.: |
03067795 |
|
|
|
|
Name : |
Mr. Georg Helmut Sparschuh |
|
Designation : |
Director |
|
Address : |
401 Sangeet Flats, 18, Abhishek Colony, Near Bank Race Course, Vadodara - 39007, Gujarat, India |
|
Date of Birth/Age : |
25.02.1961 |
|
Date of Appointment : |
25.08.2011 |
|
DIN No.: |
03602395 |
|
|
|
|
Name : |
Mr. Patrick Markschlaeger |
|
Designation : |
Director |
|
Address : |
14 A, Fuchsturmweg, Jena, Germany 07749 |
|
Date of Birth/Age : |
30.04.1966 |
|
Date of Appointment : |
12.03.2013 |
|
DIN No.: |
06513162 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
c( 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 of Neutral Glasses. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
350 (Approximately) |
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|
|
Bankers : |
Deutsche Bank, Hazarimal Somani Marg, Fort, Mumbai-400001, Maharashtra, India |
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|
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|
Facilities : |
-- |
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.R. Batliboi and Associates Chartered Accountants |
|
Address : |
2nd Floor Shivalik Ishaan, Near C.N. Vidhyalaya, Ambavadi, Ahemdabad-380015, Gujarat, India |
|
PAN.: |
ACHFS9118A |
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Holding Company : |
Schott Glaswerke Betriligungs GmbH |
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Ultimate Holding Company: |
Schott AG, Mainz, Germany |
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Other related
parties Subsidiaries, Joint Venture and Associates of holding / ultimate
holding company: |
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95990000 |
Equity Shares |
Rs. 10/- each |
Rs. 959.900 Millions |
|
10000 |
Preference Share |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total
|
|
Rs.
960.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95167769 |
Equity Shares |
Rs. 10/- each |
Rs.951.678 Millions |
|
162 |
Preference Share |
Rs. 10/- each |
Rs.0.001 Million |
|
|
Total |
|
Rs. 951.679 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
69990000 |
Equity Shares |
Rs. 10/- each |
Rs. 699.900 Millions |
|
10000 |
Preference Share |
Rs. 10/- each |
Rs. 0.100 Million |
|
|
Total
|
|
Rs.
700.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
67167769 |
Equity Shares |
Rs. 10/- each |
Rs.671.678 Millions |
|
162 |
Preference Share |
Rs. 10/- each |
Rs. 0.001 Million |
|
|
Total |
|
Rs. 671.679 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
671.679 |
671.681 |
671.681 |
|
(b) Reserves & Surplus |
147.966 |
168.722 |
190.367 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
819.645 |
840.403 |
862.048 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
148.177 |
384.776 |
518.532 |
|
(b) Deferred tax liabilities
(Net) |
85.248 |
70.182 |
86.689 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
87.116 |
84.129 |
23.886 |
|
Total
Non-current Liabilities (3) |
320.541 |
539.087 |
629.107 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
848.788 |
552.349 |
623.872 |
|
(b) Trade payables |
230.155 |
299.375 |
120.737 |
|
(c) Other current liabilities |
395.806 |
202.025 |
181.801 |
|
(d) Short-term provisions |
4.524 |
1.105 |
1.371 |
|
Total
Current Liabilities (4) |
1479.273 |
1054.854 |
927.781 |
|
|
|
|
|
|
TOTAL |
2619.459 |
2434.344 |
2418.936 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1283.032 |
1468.797 |
1420.237 |
|
(ii) Intangible Assets |
1.114 |
1.395 |
0.983 |
|
(iii) Capital work-in-progress |
231.531 |
23.619 |
3.212 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
79.814 |
178.057 |
130.341 |
|
(e) Other Non-current assets |
0.000 |
2.074 |
1.961 |
|
Total
Non-Current Assets |
1595.491 |
1673.942 |
1556.734 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
508.150 |
345.378 |
392.073 |
|
(c) Trade receivables |
389.631 |
326.163 |
331.265 |
|
(d) Cash and cash equivalents |
6.140 |
5.441 |
15.364 |
|
(e) Short-term loans and
advances |
113.629 |
83.420 |
123.500 |
|
(f) Other current assets |
6.418 |
0.000 |
0.000 |
|
Total
Current Assets |
1023.968 |
760.402 |
862.202 |
|
|
|
|
|
|
TOTAL |
2619.459 |
2434.344 |
2418.936 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue |
1708.030 |
1526.143 |
1222.147 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
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|
Administrative Expenses |
|
|
|
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|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
350.467 |
248.634 |
303.666 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
96.172 |
99.118 |
112.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
254.295 |
92.915 |
191.110 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
203.044 |
138.521 |
105.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
51.251 |
(45.606) |
85.644 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
72.007 |
(23.961) |
23.993 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(20.756) |
(21.645) |
61.651 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.22) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.15
|
(1.89) |
3.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
(0.05) |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.22
|
1.12 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69
|
0.72 |
0.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
671.681 |
671.681 |
671.679 |
|
Reserves & Surplus |
190.367 |
168.722 |
147.966 |
|
Net
worth |
862.048 |
840.403 |
819.645 |
|
|
|
|
|
|
long-term borrowings |
518.532 |
384.776 |
148.177 |
|
Short term borrowings |
623.872 |
552.349 |
848.788 |
|
Total
borrowings |
1,142.404 |
937.125 |
996.965 |
|
Debt/Equity
ratio |
1.325 |
1.115 |
1.216 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue |
1222.147 |
1526.143 |
1708.030 |
|
|
|
24.874 |
11.918 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue |
1222.147 |
1526.143 |
1708.030 |
|
Profit |
61.651 |
(21.645) |
(20.756) |
|
|
5.04% |
(1.42%) |
(1.22%) |
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 |
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 |
Yes |
|
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 |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
ITXAL/195/2012 |
Filing Date:- |
13/02/2012 |
Reg. No.:- |
ITXA/1160/2012 |
Reg. Date:- |
11/10/2012 |
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX - 8 |
Respondent:- |
SCHOTT GLASS INDIA PRIVATE LIMITED |
|
|
|
Petn.Adv.:- |
Arvind Pinto (1892) |
|
|
District:- |
MUMBAI |
|
Bench:- |
DIVISION |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date:- |
05/05/2014 |
Stage:- |
FOR ADMISSION |
|
Coram:- |
HON'BLE SHRI JUSTICE S.C. DHARMADHIKARI |
|
HON'BLE SHRI JUSTICE GIRISH S. KULKARNI |
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
BACKGROUND
Subject, 100% subsidiary of Schott Glaswerke Beteiligungs GmbH was incorporated on 5 December 1997. The Company has two divisions, Tubing Division and Trade Division. The Company has acquired the neutral glass tube manufacturing unit of Bharat Glass Tube Limited on 28 January 1998. The Company produces Clear (NGC), Amber (NGA) and Fiolax Clear glass for pharma packaging. The Company has started its Trading Division from October 1998 in Mumbai and is mainly in the business of marketing the products for different Schott Business Units.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term Borrowings |
|
|
|
Bonds |
0.061 |
0.146 |
|
Term loans from others |
148.116 |
384.630 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
432.507 |
480.000 |
|
Working capital loans from banks |
416.280 |
72.349 |
|
Total |
996.964 |
937.125 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Office equipment
- Leasehold improvements
Intangible assets
- Computer software
PRESS RELEASES
A MILLION CERTIFICATES: SCHOTT ASSISTS THE PHARMACEUTICAL INDUSTRY ON
TRACKING PHARMACEUTICAL TUBING
30.01.2014
Mumbai / Jambusar, India, January 21, 2014 – SCHOTT is supporting the pharmaceutical industry in its efforts to track the tubing used to produce pharmaceutical packaging made of glass. The company issued its 1 millionth certificate for its FIOLAX® glass tubing just recently. These certificates help to identify the products shipped as tubing that are subsequently processed into pharmaceutical packaging, vials or syringes, for example. These documents contain more detailed information on the dimensional quality and the quality of the glass. This enables pharmaceutical companies to track their packaging all the way back to the raw material “glass tubing,” if necessary.
Traceability is currently one of the most pressing issues
for the pharmaceutical industry. It is closely related to more stringent
requirements for quality and safety in manufacturing, shipping and
administering medicines. Packaging is thus an integral part of all safety
considerations. SCHOTT became the first company in the industry to allow for
all of the pharmaceutical tubing it manufactures to be identified back in 1999.
The certificates are applied to the pallet in a clearly visible position and
enable customers to inspect incoming shipments more easily because they contain
plenty of detailed information. One part of the certificate can be detached and
stored for documentation purposes and used to perform subsequent tracking and tracing
inside the e-commerce portal.
SCHOTT’s certificates can be distinguished from the certificates that its
competitors use mainly in terms of their great depth of detail and clarity.
Besides a description of the product that includes an exact definition of all
of the characteristics of importance to the customer, they also contain highly
detailed specifications on tolerances. “In other words, we offer our customers
the highest possible transparency and reliable quality,” concludes Jürgen
Achatz, Global Sales Director for Pharmaceutical Tubing at SCHOTT.
SCHOTT manufactures FIOLAX® in Germany, Spain, Brazil and India. Due to its
uniform worldwide quality standards the products delivered to customers are
always of the same quality, irrespective of the production site. Each year,
SCHOTT manufactures around one million kilometers of pharmaceutical tubing –
that is 25 times the circumference of the earth.
SCHOTT Pharmaceutical Tubing in India:
SCHOTT established a model manufacturing plant for pharmaceutical tubing in
Jambusar district (Gujarat) in 1998. This site is the only FIOLAX®
manufacturing unit of SCHOTT in Asia. Responding to the extraordinary demand of
the Indian market, in 2006, SCHOTT installed a new high technology tank to
produce FIOLAX® tubing. Within two years, a second tank was set up to boost
production further. Today, almost all pharmaceutical companies in India use
products manufactured out of the SCHOTT Tubing plant in Jambusar.
Last year, SCHOTT was appointed to Bureau of Indian Standards (BIS) to advise
CHD-10 - a subcommittee of the Chemicals Department. Schott provides CHD-10
specifications and guidelines for various kinds of glass manufacturing in
India, including pharmaceutical tubing, fire-safe glass, household appliances
and fiber optics.
SCHOTT is an international technology group with more than 125 years of
experience in the areas of specialty glasses and materials and advanced
technologies. SCHOTT ranks number one in the world with many of its products.
Its core markets are the household appliance, solar power, pharmaceuticals,
electronics, optics, transportation and architecture industries. The company is
strongly committed to contributing to its customers’ success and making SCHOTT
an important part of people’s lives with high-quality products and intelligent
solutions. SCHOTT is committed to managing its business in a sustainable manner
and supporting its employees, society and the environment. The SCHOTT Group
maintains close proximity to its customers with manufacturing and sales units
in 35 countries. Its workforce of around 16,000 employees generated worldwide
sales of approximately 2 billion euros for the 2011/2012 fiscal year. SCHOTT
AG, with its headquarters in Mainz (Germany) is owned by the Carl Zeiss
Foundation.
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
34 |
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.