MIRA INFORM REPORT
|
Report Date : |
30.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
EAGLEBURGMANN
KE PRIVATE LIMITED (w.e.f. 30.09.2011) |
|
|
|
|
Formerly Known
As : |
KE-BURGMANN
FLEXIBLES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey
No.109/2A, 1B, Old G.N.T Road, Karanodai, Sholavaram, Chennai – 600 067,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
27.03.2000 |
|
|
|
|
Com. Reg. No.: |
18-053650 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.806
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999TN2000PTC053650 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the manufacture of Non-Metallic Expansion Joints, both for domestic
and international markets. |
|
|
|
|
No. of Employees
: |
Approximately 100 (60 On Permanent Basis + 40 On Contract Basis) |
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 547000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
subsidiary of “EagleBurgmann KE A/S, Denmark”. It is an established company
having satisfactory track. The company
possesses a favourable financial profile marked by decent networth base along
with a healthy capital structure and adequate liquidity during FY.12. Management has
reported a dip in its sales volume as well as net profitability during the
year under review. However, trade
relations seems to be fair. Business is active. Payment terms are reported as
usually correct. In view of strong
support from its parentage, the subject can be considered normal for business
dealings at usual trade terms and conditions. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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 (GENERAL DETAILS)
|
Name : |
Mr. Shivkumar |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-44-30882700 |
|
Date : |
26.04.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Survey
No.109/2A, 1B, Old G.N.T Road, Karanodai, Sholavaram, Chennai – 600 067,
Tamilnadu, India |
|
Tel. No.: |
91-44-30882700 (10
Lines) |
|
Fax No.: |
91-44-30882720 |
|
E-Mail : |
sivakumar.vadivelu@ind.eagleburgmann.com |
|
Website : |
|
|
|
|
|
Mumbai Regional Office : |
B 48/190, Manohar Upper Floor, Siddharth Nagar, Road No.8,
Off S.V. Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India |
|
Tel. No.: |
91-22-28726279 |
|
Fax No.: |
91-22-28726279 |
|
E-Mail : |
|
|
|
|
|
Kolkata Regional Office : |
Flat No.09, First Floor, No.9, Dr. Sundari Mohan Avenue,
Kolkata – 700 014, West Bengal, India |
|
Tel. No.: |
91-33-22865566 |
|
Fax No.: |
91-33-22865566 |
|
E-Mail : |
|
|
|
|
|
Noida Regional Office : |
Room No.203, 2nd Floor, Ocean Complex, Plot
No.P-6, Sector-18, Noida, District: Gautam Budha Nagar – 201 301, Uttar
Pradesh |
|
Tel. No.: |
91-120-2488683 |
|
Fax No.: |
91-120-2488683 |
|
E-Mail : |
DIRECTORS
AS ON 24.06.2013
|
Name : |
Mr. Tapas Biswas |
||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||
|
Address : |
H.No.71, Navjeevan Housing Society, Raipur CG, Raipur – 492 001,
Chhattisgarh, India |
||||||||||||||||||
|
Date of Birth/Age : |
25.08.1964 |
||||||||||||||||||
|
Date of Appointment : |
21.02.2011 |
||||||||||||||||||
|
DIN No.: |
02231949 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Sivakumar Vadivelu |
||||||||||||||||||
|
Designation : |
Whole-time Director |
||||||||||||||||||
|
Address : |
Plot No.70, Sri Padmavathy Nagar, Surapet Road, Vinayagapuram,
Kolathur, Chennai – 600 099, Tamilnadu, India |
||||||||||||||||||
|
Date of Birth/Age : |
13.05.1962 |
||||||||||||||||||
|
Date of Appointment : |
29.06.2011 |
||||||||||||||||||
|
DIN No.: |
03450001 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Peschla Jurgen |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
21227, Bendestrof Kiek UT 7A, Bendestrof, Germany 21227 |
||||||||||||||||||
|
Date of Birth/Age : |
17.07.1964 |
||||||||||||||||||
|
Date of Appointment : |
30.06.2012 |
||||||||||||||||||
|
DIN No.: |
05320979 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Shivkumar |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
T.P.
Shridar |
|
Designation : |
Company Secretary |
|
Address : |
"Sreekrishna",
No.18, (New No.381), 1st Floor, 12th Avenue, Ashok Nagar, Chennai – 600 083, Tamilnadu, India |
|
Date of Birth/Age : |
91-44-24744291 |
|
Qualification : |
91-9444371903 |
|
Experience : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
EagleBurgmann KE Singapore Pte. Limited, Singapore |
|
20 |
|
EagleBurgmann KE A/S, Denmark |
|
1280592 |
|
Total
|
|
1280612 |
AS ON 24.06.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the manufacture of Non-Metallic Expansion Joints, both for
domestic and international markets. |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Advance, L/C, Cheque and Credit |
|
|
|
|
Purchasing : |
Advance, L/C, Cheque and Credit
|
PRODUCTION STATUS [AS ON 31.12.2011]:
|
Particulars |
Year
ended December 31, 2011 |
|
|
Quantity
in Nos. |
|
Production |
8539 |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s ·
AES ·
Alstom ·
Ansaldo Caldale ·
BHEL ·
Doosan Babcock ·
Ducon ·
GEBR. PFEIFFER INC. ·
GE Energy ·
Indira Industries |
|
|
|
|
No. of Employees : |
Approximately 100 (60 On Permanent Basis + 40 On Contract Basis) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and Associates LLP Chartered Accountants |
|
Address : |
6th and 7th Floor, "A" Block, Tidel
Park, 4, Rajiv Gandhi Salai, Taramani, Chennai – 600 113, Tamilnadu, India |
|
Tel. No.: |
91-44-66548100 |
|
Fax No.: |
91-44-22540120 |
|
PAN No.: |
AACFS6921Q |
|
|
|
|
Ultimate Holding Company: |
EagleBurgmann Germany
GmbH and Co. KG |
|
|
|
|
Holding Company: |
EagleBurgmann KE A/S, Denmark |
|
|
|
|
Fellow Subsidiaries: |
|
CAPITAL STRUCTURE
AS ON 24.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1280612 |
Equity Shares |
Rs.10/- each
|
Rs.12.806
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
12.806 |
12.806 |
|
(b) Reserves & Surplus |
|
123.969 |
104.949 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
136.775 |
117.755 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
Long-term provisions |
|
24.098 |
31.475 |
|
Total
Non-current Liabilities (3) |
|
24.098 |
31.475 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
28.098 |
60.428 |
|
(c)
Other current liabilities |
|
9.237 |
9.693 |
|
(d)
Short-term provisions |
|
12.496 |
12.886 |
|
Total
Current Liabilities (4) |
|
49.831 |
83.007 |
|
|
|
|
|
|
TOTAL |
|
210.704 |
232.237 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
24.352 |
14.738 |
|
(ii)
Intangible Assets |
|
0.370 |
0.279 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
9.213 |
11.301 |
|
(d) Long-term Loan
and Advances |
|
3.004 |
5.181 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
36.939 |
31.499 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
34.350 |
51.126 |
|
(c)
Trade receivables |
|
91.488 |
122.587 |
|
(d)
Cash and cash equivalents |
|
43.998 |
14.614 |
|
(e)
Short-term loans and advances |
|
3.865 |
12.123 |
|
(f)
Other current assets |
|
0.064 |
0.288 |
|
Total
Current Assets |
|
173.765 |
200.738 |
|
|
|
|
|
|
TOTAL |
|
210.704 |
232.237 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.806 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
70.142 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
82.948 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
82.948 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
11.864 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
8.815 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
40.062 |
|
|
Sundry Debtors |
|
|
95.555 |
|
|
Cash & Bank Balances |
|
|
12.115 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
6.008 |
|
Total
Current Assets |
|
|
153.740 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
46.990 |
|
|
Other Current Liabilities |
|
|
9.272 |
|
|
Provisions |
|
|
35.209 |
|
Total
Current Liabilities |
|
|
91.471 |
|
|
Net Current Assets |
|
|
62.269 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
82.948 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from Operations (net) |
319.887 |
401.524 |
388.398 |
|
|
|
Other Income |
2.753 |
3.273 |
10.485 |
|
|
|
TOTAL (A) |
322.640 |
404.797 |
398.883 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material and
components consumed |
168.459 |
229.344 |
236.253 |
|
|
|
Increase/
decrease in inventories |
6.180 |
0.470 |
(1.238) |
|
|
|
Employee
benefits expense |
34.347 |
36.301 |
31.502 |
|
|
|
Other
expenses |
80.653 |
82.896 |
81.455 |
|
|
|
TOTAL (B) |
289.639 |
349.011 |
347.972 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.001 |
55.786 |
50.911 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.546 |
1.517 |
1.371 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.455 |
54.269 |
49.540 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.258 |
1.288 |
1.868 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
29.197 |
52.981 |
47.672 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.177 |
18.174 |
16.394 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
19.020 |
34.807 |
31.278 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
102.648 |
67.841 |
36.563 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
121.668 |
102.648 |
67.841 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at F.O.B. Value |
7.541 |
30.081 |
72.156 |
|
|
TOTAL EARNINGS |
7.541 |
30.081 |
72.156 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Consumables |
31.707 |
45.934 |
35.349 |
|
|
TOTAL IMPORTS |
31.707 |
45.934 |
35.349 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
14.85 |
27.18 |
24.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
5.90
|
8.60 |
7.84 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.13
|
13.19 |
12.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.49
|
23.98 |
28.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.45 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.49
|
2.42 |
1.68 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
12.806 |
12.806 |
12.806 |
|
Reserves & Surplus |
70.142 |
104.949 |
123.969 |
|
Net worth |
82.948 |
117.755 |
136.775 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations (net) |
388.398 |
401.524 |
319.887 |
|
|
|
3.380 |
-20.332 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations
(net) |
388.398 |
401.524 |
319.887 |
|
Profit |
31.278 |
34.807 |
19.02 |
|
|
8.05% |
8.67% |
5.95% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
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 |
Notes:
· The registered office of the company has been shifted from Old No.48/1 and 2, New No.352, Madhavaram High Road, Grand Lyon, Redhills, Chennai – 600 052, Tamilnadu to the present address w.e.f. 29.08.2013.
·
No Charges Exist for Company.
CORPORATE INFORMATION:
The Company, formerly known
as KE-Burgmann Flexibles India Private Limited, was incorporated on March 27,
2000 under the Companies Act, 1956 with its registered office in New Delhi.
Subject is a subsidiary of EagleBurgmann KE A/S, Denmark ("the
Parent"). The Company is engaged in the manufacture of Non-Metallic
Expansion Joints, both for domestic and international markets. The Company had
commenced its commercial operations from March 18, 2001.
OPERATION AND FUTURE OUTLOOK:
The Company is setting up
new manufacturing facilities in Chennai at an Investment of INR 60 millions.
The facilities will be operational from the fourth quarter of 2013. With this
development the Company is expanding its product range and services by
investing in new technology to manufacture steel frames for Non-metallic
expansion joints and metal bellows. It will enhance the growth in terms of
Order Intake, Sales and Operating Results in future.
FIXED ASSETS:
Tangible
Assets
·
Plant
and Machinery
·
Vehicles
·
Furniture
and Fixtures
·
Electrical
Installations
·
Office
Equipment
·
Computers
Intangible
Assets
·
Computer Software
WEBSITE DETAILS:
PRESS RELEASES/ ARTICLE:
GERMANY'S FREUDENBERG
OPENS CHENNAI FACILITY
New facility will
cater to domestic market
March 18, 2014
EagleBurgmann KE, a company of the Freudenberg Group, has opened its new production facility in Chennai. The facility will cater to growing demand for fabric and metal expansion joints in India.
"This is an important step in the more than 26 years of history of EagleBurgmann KE in India", commented Jörg Matthias Grossmann, Regional Representative of the Freudenberg Group in India and Chief Financial Officer of Freudenberg Chemical Specialities.
He added, the new plant is a result of the sustainable and gradual growth of the Indian entity and will help to strengthen the company's position as the market leader with more than 40 percent in fabric expansion joints in India, he added. The company invested Rs.70.000 millions in the facility.
With a total space of almost 6,500 square meters, thereof 450 square meters for administration, the new production site in Chennai, India, was brought on line now.
The product portfolio includes both standard as well as customised fabric and metal expansion joints. Customer-oriented sales teams and a strong service network across the region complete EagleBurgmann KE's business profile in India.
"Our aim is to deliver one-shot expansion joint solutions right from design to dispatch under one roof. Therewith, we optimise our processes in production, logistics and administration", says Tapas Biswas. For the future, EagleBurgmann KE is also planning the production of circular metal bellows on the plant in Chennai.
FREUDENBERG OPENS NEW
LOGISTICS CENTER
3/31/2014
Kaiserslautern, March 28, 2014. Responding to an increase in demand, Freudenberg Filtration Technologies, a Business Group of the globally-active technology company Freudenberg, yesterday opened a new logistics center in Kaiserslautern. “The logistics center sends a clear signal about our commitment to Kaiserslautern. And the resulting proximity of production and logistics, ensures we will be able to fulfill customer needs with regard to product availability and flexibility in supply,” said Dr. Jörg Sievert, Member of the Freudenberg Filtration Technologies Board. The multi-purpose facility was inaugurated in a ceremony together with Dr. Klaus Weichel, Mayor of Kaiserslautern, Knuth Fickartz, Head of Automotive Filters, Europe, as well as the Deputy Chairman of the Kaiserslautern Works’ Council, Gunter Mühlberger. The center was built in partnership with Skipiol Immobilien. The total investment being made is around €12 million.
From left: Dr. Klaus Weichel, Mayor of
Kaiserslautern, Dr. Jörg Sievert, COO Freudenberg Filtration Technologies,
Knuth Fickartz, Head of Automotive Filters, Europe, Jutta Gerst, Head of
Supply-Chain-Management at Freudenberg Filtration Technologies Kaiserslautern,
Josef Skipiol, Dr. Matthias Waldenmaier, SEO Freudenberg Filtration
Technologies Kaiserslautern.
Having a floor area of around 12,000 square meters, the
multi-purpose facility in Kaiserslautern serves the packaging and distribution
of filters. Around 270 Freudenberg Filtration Technologies employees
manufacture micronAir car cabin filters at the site. MicronAir is used by automotive
and air conditioning manufacturers, as well as in industrial plants throughout
Europe. The car cabin air filter protects car occupants from dust, as well as
pollen, particulates, bacteria, industrial dust and other fine particles that
can enter the lungs. The combi filter absorbs harmful gases such as ozone and
benzene, as well as unpleasant odors. High-performance synthetic air filters
for combustion engines are also manufactured at the site.
With the new logistics center, products can be delivered more quickly to the customer. Six height-adjustable docking stations make it possible to load and unload up to 45 trucks per day. To avoid traffic problems, the new facility has its own truck access.
The European market for cabin air filters is growing. As a result, Freudenberg
has increased its production by 30 percent since 2008. Two thirds of all
vehicles on the road are equipped with Freudenberg Filtration Technologies
cabin air filters. The Business Group supplies the European market from its factories
in Potvorice, Slovakia and Kaiserslautern. In September last year, a new
multi-purpose facility was opened in Potvorice.
Freudenberg has been present in Kaiserslautern since 1970. Filters have been
manufactured here since 2001. Locally, the family-owned company is not only
represented by Freudenberg Filtration Technologies, but also by the Freudenberg
Nonwovens and Helix Medical Business Groups. In total, over 500 Freudenberg
employees work in Kaiserslautern.
About Freudenberg Filtration Technologies
Freudenberg Filtration Technologies is one of the world’s leading manufacturers in high-performance and energy efficient liquid and air filtration technology solutions. By improving the efficiency of industrial processes, conserving resources, and protecting people and the environment the solutions contribute to enhancing the quality of life. With its Viledon® and micronAir® global brands, Freudenberg Filtration Technologies offers customers innovative filter elements and systems for the energy, health, and transport (automotive, rail, marine, aviation) sectors, general ventilation and cleanroom technology, and for highly-specialized applications. In 2012, Freudenberg Filtration Technologies employed about 1,530 associates and generated sales of more than €280 million.
About the Freudenberg Group
The Freudenberg Group is a family company offering its customers technically challenging product solutions and services. The Group develops and manufactures seals, vibration control components, filters, nonwovens, products for surface treatment, release agents and specialty lubricants, medical and mechatronic products. And especially for mid-size companies Freudenberg develops software solutions and IT services. The end-user can find modern Freudenberg household products in the shops under the brand names of vileda®, O-Cedar®, Wettex®, Gala® and SWASH®. The Freudenberg Group employed 37,453 people in 57 countries and generated sales of more than €6.3 billion in 2012.
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.60.52 |
|
UK Pound |
1 |
Rs.101.77 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
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.