MIRA
INFORM REPORT
|
Report Date : |
12.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SULZER INDIA LIMITED |
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Registered
Office : |
Gat No. 304, At Kondhapuri, Taluka Shirur, Kondhapuri – 412209, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.04.1988 |
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Com. Reg. No.: |
11-046977 |
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Capital
Investment / Paid-up Capital : |
Rs. 34.500 Millions |
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CIN No.: [Company Identification
No.] |
U29297PN1988PLC046977 |
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IEC No.: |
PNES00904B |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS7876D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Engineering Goods. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. General position of the company appears to be good. Liquidity position
appears to be strong. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered for business dealing 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.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Shrikrishna Korde |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-2137-304000 |
|
Date : |
10.12.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
Gat No. 304, At Kondhapuri, Taluka Shirur, Kondhapuri – 412209, |
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Tel. No.: |
91-2137-304000 / 304802 |
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Fax No.: |
91-2137-304111 / 222/ 304319 |
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E-Mail : |
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Website : |
http://www.sulzerindia.com
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Location : |
Owned |
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Factory 2 : |
Village Kondhapuri, |
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Tel No.: |
91-2137-304000 |
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Fax No.: |
91-2137-304111/ 222 |
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Regional Offices 1 : |
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Tel. No.: |
91-265-2342194 |
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Fax No.: |
91-265-2342394 |
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Regional Offices 2 : |
1015-1019, Ansal Tower, 38 Nehru Place, New Delhi-110019, India |
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Tel. No.: |
91-11-26294771 / 2 |
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Fax No.: |
91-1126294226 |
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Regional Offices 3 : |
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Tel. No.: |
91-44-24992436 / 24987415 |
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Fax No.: |
91-44-24992394 |
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Regional Offices : |
Also located at: ·
Chennai ·
·
Vadodara |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Jambunathan Venkatraman Mallik |
|
Designation : |
Director |
|
Address : |
E-3/14, Shirine Gardens, Parihar Chowk, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1960 |
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Qualification : |
CA, CS |
|
Date of Appointment : |
29.08.2011 |
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DIN No.: |
00199389 |
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|
Name : |
Mr. Fabrice Jean Philippe Billard |
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Designation : |
Director |
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Address : |
Witikonerstrasse 380, 8053 |
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Date of Birth/Age : |
11.03.1970 |
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Qualification : |
Graduate in Engineering and Executive MBA |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
06360664 |
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|
|
|
Name : |
Mr. Bharat Hirachand Dagha |
|
Designation : |
Director |
|
Address : |
C/11,
Sarvonatti Society, Kama Lane, Ghatkopar (West), Mumbai- 400 086,
Maharashtra, India |
|
Date of Birth/Age : |
24.11.1957 |
|
Date of Appointment : |
17.09.2014 |
|
DIN No.: |
06766065 |
KEY EXECUTIVES
|
Name : |
Mr. Balaji Thiruvadanthi Bakthisaran |
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Designation : |
Manager |
|
Address : |
D/30, Mantri Kishor Park, Bhosale Nagar, Pune – 411007, Maharashtra,
India |
|
Date of Birth/Age : |
22.05.1960 |
|
Date of Appointment : |
08.04.2008 |
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PAN No.: |
ADGPB8164M |
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Name : |
Mr. Shrikrishna Chitaman Korde |
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Designation : |
Secretary |
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Address : |
4-A1, Madhuwanti Society, Near Karve Statue, Kothrud, Pune – 411038,
Maharashtra, India |
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Date of Birth/Age : |
15.05.1976 |
|
Date of Appointment : |
01.04.2011 |
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PAN No.: |
ANQPK9577R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
96.27 |
|
Bodies corporate |
0.19 |
|
Other top fifty shareholders |
1.04 |
|
Others |
2.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Engineering Products. |
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Products : |
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Brand Names : |
--- |
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Agencies Held : |
--- |
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Exports : |
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Products : |
·
Finished goods |
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Countries : |
·
Singapore ·
Bahrain ·
Russia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Switzerland |
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Terms : |
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Selling : |
Cash, Advance Payment |
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Purchasing : |
Cash, Advance Payment |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
Banque Indosuez, Ramon House, 169, Backbay Reclamation,
Bombay – 400020, Maharashtra, India ·
The Industrial Credit and Investment Corpo.
India, Limited, 163; Backbay Reclamation, Bombay – 400020, Maharashtra, India
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Facilities : |
-- |
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Auditors : |
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Name : |
B B S R and Company Chartered Accountant |
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Address : |
703 Godrej Castlemaine, 7th Floor Bund Garden Road, Pune
411001, Maharashtra, India |
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PAN No.: |
AAKFB4397F |
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Holding Company
: |
Sulzer Limited, |
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Subsidiary
Company : |
Sulzer Chemtech Tower Field Services ( (formerly SAB Technical Services India Private Limited) w.e.f. July
31, 2009 |
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Associate: |
·
Sulzer Chemtech Company Limited, ·
Sulzer Chemtech Pte. Limited, ·
Sulzer Shanghai Engineering and Machinery Works
Limited, China ·
·
Sulzer Pumps India Limited, ·
Sulzer Chemtech ·
Sulzer Management Limited, ·
Sulzer ·
Sulzer Chemtech Limited, ·
Sulzer Chemtech ·
Sulzer Turbo Services ·
Sulzer Metco ·
Sulzer Chemtech Canada Inc. |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3450000 |
Equity Shares |
Rs.10/- each |
Rs. 34.500
Millions |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
34.500 |
34.500 |
34.500 |
|
(b) Reserves & Surplus |
1111.900 |
893.800 |
761.224 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1146.400 |
928.300 |
795.724 |
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
36.700 |
31.000 |
32.448 |
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Total Non-current Liabilities (3) |
36.700 |
31.000 |
32.448 |
|
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|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
303.600 |
459.500 |
404.195 |
|
(b) Trade payables |
366.600 |
254.700 |
530.836 |
|
(c) Other current
liabilities |
594.500 |
623.000 |
818.241 |
|
(d) Short-term provisions |
132.200 |
131.900 |
53.624 |
|
Total Current Liabilities (4) |
1396.900 |
1469.100 |
1806.896 |
|
|
|
|
|
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TOTAL |
2580.000 |
2428.400 |
2635.068 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
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(a) Fixed Assets |
|
|
|
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(i) Tangible assets |
367.700 |
381.800 |
377.798 |
|
(ii) Intangible Assets |
4.700 |
7.900 |
4.589 |
|
(iii) Capital
work-in-progress |
5.700 |
1.000 |
0.066 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
206.200 |
206.200 |
129.826 |
|
(c) Deferred tax assets (net) |
48.300 |
43.400 |
38.997 |
|
(d) Long-term Loan and Advances |
68.600 |
63.900 |
32.303 |
|
(e) Other Non-current assets |
0.000 |
1.300 |
6.246 |
|
Total Non-Current Assets |
701.200 |
705.500 |
589.825 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1054.400 |
977.100 |
1348.921 |
|
(c) Trade receivables |
313.300 |
245.900 |
214.676 |
|
(d) Cash and cash
equivalents |
267.700 |
253.500 |
96.551 |
|
(e) Short-term loans and
advances |
236.900 |
245.600 |
376.776 |
|
(f) Other current assets |
6.500 |
0.800 |
8.319 |
|
Total Current Assets |
1878.800 |
1722.900 |
2045.243 |
|
|
|
|
|
|
TOTAL |
2580.000 |
2428.400 |
2635.068 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2814.300 |
3071.000 |
1865.165 |
|
|
|
Other Income |
62.300 |
8.700 |
57.661 |
|
|
|
TOTAL (A) |
2876.600 |
3079.700 |
1922.826 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1381.700 |
1518.400 |
1464.993 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(53.800) |
235.900 |
(610.165) |
|
|
|
Employees benefits expense |
317.300 |
265.400 |
247.748 |
|
|
|
Other expenses |
816.900 |
741.500 |
802.704 |
|
|
|
TOTAL
(B) |
2462.100 |
2761.200 |
1905.280 |
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
414.500 |
318.500 |
17.546 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.800 |
43.400 |
10.502 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
371.700 |
275.100 |
7.044 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
78.900 |
73.900 |
80.567 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
292.800 |
201.200 |
(73.523) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
74.700 |
68.700 |
17.097 |
|
|
|
|
|
|
|
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|
|
PROFIT AFTER TAX
(G-H) (I) |
218.100 |
132.500 |
(90.620) |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
587.889 |
455.366 |
545.986 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
805.989 |
587.889 |
455.366 |
|
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|
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|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings F.O.B basis |
2134.500 |
2045.300 |
NA |
|
|
|
Commission Earnings |
0.000 |
0.900 |
NA |
|
|
|
Other Earnings |
22.100 |
29.700 |
NA |
|
|
TOTAL EARNINGS |
2156.600 |
2075.900 |
NA |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
278.300 |
392.900 |
NA |
|
|
|
Stores & Spares |
30.900 |
28.900 |
NA |
|
|
|
Capital Goods |
13.700 |
35.500 |
NA |
|
|
TOTAL IMPORTS |
322.900 |
457.300 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
63.22 |
38.41 |
(26.27) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
7.75 |
4.31 |
(4.86) |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
14.73 |
10.37 |
0.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.62 |
9.24 |
(2.98) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.22 |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.26 |
0.49 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.17 |
1.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
34.500 |
34.500 |
34.500 |
|
Reserves & Surplus |
761.224 |
893.800 |
1111.900 |
|
Net
worth |
795.724 |
928.300 |
1146.400 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
404.195 |
459.500 |
303.600 |
|
Total
borrowings |
404.195 |
459.500 |
303.600 |
|
Debt/Equity
ratio |
0.508 |
0.495 |
0.265 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1865.165 |
3071.000 |
2814.300 |
|
|
|
64.650 |
(8.359) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1865.165 |
3071.000 |
2814.300 |
|
Profit |
(90.620) |
132.500 |
218.100 |
|
|
(4.86%) |
4.31% |
7.75% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
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 |
(Rs.
In Millions)
|
UNSECURED LOAN |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Term Loans |
303.600 |
269.500 |
|
Interoperate Borrowings |
0.000 |
190.000 |
|
|
|
|
|
Total |
303.600 |
459.500 |
|
|
|
|
CASE
DETAILS
|
Lodging No.:- |
NMAL/530/2013 |
Filing Date:- |
07/03/2013 |
Reg. No.:- |
NMA/453/2013 |
Reg. Date:- |
07/03/2013 |
Main
Matter
|
Lodging No.:- |
ITXAL/413/2013 |
Reg. Date:- |
ITXA/762/2013 |
|
Petitioner:- |
COMMISSIONER OF INCOME TAX |
Respondent:- |
M/S SULZER INDIA LIMITED |
|
Petn.Adv.:- |
ARVIND PINTO (I1892) |
Resp.Adv.:- |
0 (0) |
|
District:- |
MUMBAI |
|
|
|
Bench:- |
Division |
|
|
|
Status:- |
PRE-ADMISSION |
Category: |
NOTICE OF MOTION (TAX) |
|
Next Date:- |
29/01/2015 |
Stage:- |
NOTICE OF MOTION (TAX) [ ORIGINAL SIDE
MATTERS] |
|
Coram:- |
HON’BLE. SHRI JUSTICE S.C. DHARMADHIKARI HON’BLE SHRI JUSTICE A.A.SAYED |
|
|
|
Act :- |
Income Tax Act, 1961 |
Under
Section: |
260A |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90088702 |
31/12/2003 |
1,300,000.00 |
HDFC BANK LIMITED |
NETRALI APARTMENTS,
OFF. BHANDARKAR INSTITVIE; LA |
- |
|
2 |
90090226 |
24/11/1995 |
15,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G.N.VAIDYA MARG, BOMBA |
- |
|
3 |
90090167 |
25/07/1995 * |
37,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G.N.ROAD VADYA MARG, B |
- |
|
4 |
90090000 |
04/08/1994 * |
25,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE
G.N.VAIDYA MARG, BOMBA |
- |
|
5 |
90089898 |
04/11/1993 |
40,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G.N.ROAD VADYA MARG, B |
- |
|
6 |
90089663 |
04/08/1994 * |
12,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G.N.VAIDYA MARG, BOMBA |
- |
|
7 |
90089601 |
14/11/1990 |
7,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE J.N. VAIDYA MARG, BOMB |
- |
|
8 |
90089570 |
06/08/1990 |
15,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
JUSTICE G.N. VAIDYA MARG, BOMB |
- |
|
9 |
90083678 |
10/07/1990 |
4,000,000.00 |
BANK OF AMERICA |
EXPRESS TOWERS, NARIMAN POINT, BOMBAY, Maharashtra - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings (Freehold)
· Buildings (Leasehold)
· Plant and Machinery
· Data Processing Equipments
· Research and Development Equipments
· Furniture and Fittings
· Office and Other Equipment
·
Vehicles
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.61.21 |
|
|
1 |
Rs.97.80 |
|
Euro |
1 |
Rs.77.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
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.