1. Summary Information
|
Country |
India |
||
|
Company Name |
H.B. Fuller India Adhesives Private Limited |
Principal Name 1 |
Mr. Sandeep Garyali |
|
Status |
Moderate |
Principal Name 2 |
Mr. Kevin Michael Gilligan |
|
Registration # |
11-187992 |
||
|
Street Address |
A-503, BSEL Tech Park, Sector 30A, Vashi, Navi Mumbai – 400705,
Maharashtra |
||
|
Established Date |
05.11.2008 |
SIC Code |
-- |
|
Telephone# |
91-22-39170502 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-61450505 |
Business Style 2 |
Seller |
|
Homepage |
Product Name 1 |
Adhesives |
|
|
# of employees |
Not Available |
Product Name 2 |
Sealants |
|
Paid up capital |
Rs.384,305,000/- |
Product Name 3 |
Paints |
|
Shareholders |
Foreign holdings – 100.00% , |
Banking |
Bank of Tokyo-Mitsubishi |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
USA |
H.B. Fuller Company |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
353.047,000 |
Current Liabilities |
424,076,000 |
|
Inventories |
243,334,000 |
Long-term Liabilities |
319,560,000
|
|
Fixed Assets |
462,128,000 |
Other Liabilities |
14,381,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
758,017,000 |
|
Invest& other Assets |
10,637,000 |
Retained Earnings |
(73,176,000) |
|
|
|
Net Worth |
311,129,000 |
|
Total Assets |
1,069,146,000 |
Total Liab. & Equity |
1,069,146,000 |
|
Total Assets (Previous Year) |
884,246,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales (Gross Income) |
864,859,000 |
Net Profit |
5,842,000 |
|
Sales (Gross Income) (Previous yr) |
521,567,000 |
Net Profit(Prev.yr) |
(75.288,000) |
MIRA INFORM REPORT
|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
H.B. FULLER INDIA ADHESIVES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-503, BSEL Tech Park, Sector 30A, Vashi, Navi Mumbai – 400705,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
05.11.2008 |
|
|
|
|
Com. Reg. No.: |
11-187992 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 384.305 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2008PTC187992 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMH11947F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH1671D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Seller of Adhesives, Sealants, Paints and Other Specialty Chemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The ratings remain constrained due to continues accumulated losses
incurred by the company and below average financial performance. However, trade relations are reported to be fair. Business is active.
Payments are slow but correct The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the scheme.
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 DENIED BY
|
Name : |
Mr. Ajay |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-21-69241200 |
|
Date : |
13.02.2014 |
LOCATIONS
|
Registered Office : |
A-503, BSEL Tech Park, Sector 30A, Vashi, Navi Mumbai – 400705,
Maharashtra, India |
|
Tel. No.: |
91-22-39170502/ 61450500 / 39170500 / 61450501 |
|
Mobile No.: |
91-9820163818 (Mr. Dhananjay Patil) |
|
Fax No.: |
91-22-39170505/ 61450505 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse : |
Arihant Commercial Complex Building No. 36, Ground Floor, Gala No. 2,
3 & 4, Near Kopar Bus Stop, Purna Village, Bhiwandi – 421302, Thane,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sandeep Garyali |
|
Designation : |
Director |
|
Address : |
Flat No. E-503, 5th Floor, Awho, Dara Enclave, Plot No. 6,
Sector – 9, Nerul, Navi Mumbai – 400706, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1962 |
|
Date of Appointment : |
05.01.2009 |
|
DIN No.: |
02500061 |
|
|
|
|
Name : |
Mr. Kevin Michael Gilligan |
|
Designation : |
Director |
|
Address : |
No. 3, Green Villas, Lane 888, Ming Yue Road, Pudong New Area, China |
|
Date of Birth/Age : |
26.05.1966 |
|
Date of Appointment : |
05.01.2009 |
|
DIN No.: |
02596758 |
|
|
|
|
Name : |
Mr. Brian John Collins |
|
Designation : |
Director |
|
Address : |
Isclossberg 3D Risch 6343 |
|
Date of Birth/Age : |
06.09.1968 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
02945623 |
KEY EXECUTIVES
|
Name : |
Mr. Ujwal Kumar Kalita |
|
Designation : |
Secretary |
|
Address : |
House No.15, Bhetpda Chariali, Barsajal, C. Chaudhari Path, Beltala –
781028, Assam |
|
Date of Birth/Age : |
31.12.1979 |
|
Date of Appointment : |
07.12.2011 |
|
PAN No: |
BHJPK2090P |
|
|
|
|
Name : |
Mr. Ajay |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
H.B. Fuller Company |
|
9000 |
|
H.B. Fuller International INC |
|
1000 |
|
H.B. Fuller Benelux B.V, Netherlands |
|
2420500 |
|
TOTAL |
|
2430500 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
H.B. Fuller Benelux B.V, Netherlands |
|
27000000 |
|
H.B. Fuller Company, USA |
|
9000000 |
|
TOTAL |
|
36000000 |
AS ON 30.09.2013
|
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 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Adhesives, Sealants, Paints and Other
Specialty Chemicals |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of Tokyo-Mitsubishi |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
||||||||||||
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D K V and Associates (Chartered Accountants) |
|
Address : |
Soham, 10, Shriniketan Soc, Mayur Colony, Kothrud, Pune – 411029,
India |
|
Income-tax PAN
of auditor or auditor's firm : |
AAFFD9165L |
|
|
|
|
Holding Company : |
H.B. Fuller Company-USA |
|
|
|
|
Associates : |
Ø
H.B. Fuller Company Australia Pty Limited Ø
H.B. Fuller North American Adhesives Group,
United States Ø
H.B. Fuller Austria GesmbH Ø
H.B. Fuller Deutschland GmbH, Germany Ø
H.B. Fuller (Philippines), Inc. Ø
H.B. Fuller Taiwan Company Limited, China Ø
H.B. Fuller, Isar- Rakoll, SAA, Germany Ø
H.B. Fuller (China) Adhesives Limited, China Ø
H.B. Fuller International Inc, Hong Kong Ø H.B. Fuller
(Shanghai) Consulting Limited, China Ø
H.B. Fuller UK Limited Ø
H.B. Fuller (Nanjing) Chemical Company Limited,
China Ø
H.B. Fuller Italia S.R.L, Italy Ø H.B. Fuller
Company (Corporate Office) |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
36000000 |
Preference Share |
Rs.10/- each |
Rs. 360.000 Millions |
|
|
Total
|
|
Rs.385.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2430500 |
Equity Shares |
Rs.10/- each |
Rs. 24.305 Millions |
|
36000000 |
Preference Share |
Rs.10/- each |
Rs. 360.000 Millions |
|
|
Total |
|
Rs.384.305
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
384.305 |
384.305 |
|
(b) Reserves & Surplus |
|
(73.176) |
(124.434) |
|
(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) |
|
311.129 |
259.871 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
187.156 |
233.025 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.781 |
0.512 |
|
Total
Non-current Liabilities (3) |
|
187.937 |
233.537 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
132.404 |
0.000 |
|
(b) Trade payables |
|
420.355 |
344.088 |
|
(c) Other current liabilities |
|
14.381 |
1.332 |
|
(d) Short-term provisions |
|
2.940 |
45.418 |
|
Total
Current Liabilities (4) |
|
570.080 |
390.838 |
|
|
|
|
|
|
TOTAL |
|
1,069.146 |
884.246 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
459.488 |
311.373 |
|
(ii) Intangible Assets |
|
2.640 |
2.098 |
|
(iii) Capital work-in-progress |
|
10.637 |
111.978 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
(2.552) |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
24.601 |
2.369 |
|
Total
Non-Current Assets |
|
497.366 |
425.266 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
243.334 |
270.689 |
|
(c) Trade receivables |
|
226.323 |
72.512 |
|
(d) Cash and cash equivalents |
|
8.203 |
85.617 |
|
(e) Short-term loans and
advances |
|
93.920 |
30.162 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
571.780 |
458.980 |
|
|
|
|
|
|
TOTAL |
|
1,069.146 |
884.246 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
204.305 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(3.730) |
|
|
NETWORTH |
|
|
200.575 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
60.000 |
|
|
TOTAL BORROWING |
|
|
60.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
260.575 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
57.625 |
|
|
Capital work-in-progress |
|
|
33.807 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
70.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
51.498 |
|
|
Sundry Debtors |
|
|
70.874 |
|
|
Cash & Bank Balances |
|
|
7.912 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
8.390 |
|
Total
Current Assets |
|
|
210.008
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
85.985 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
110.865
|
|
|
Net Current Assets |
|
|
99.143
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
260.575 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Gross Income |
864.859 |
521.567 |
369.574 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
51.140 |
(69.682) |
4.520 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
47.850 |
2.759 |
0.497 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
3.290 |
(72.441) |
4.023 |
|
|
|
|
|
|
|
Less |
TAX |
(2.552) |
2.847 |
0.964 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.842 |
(75.288) |
3.059 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(124.434) |
(3.730) |
(6.789) |
|
|
|
|
|
|
|
Add/ Less |
Preference
Dividend |
NA |
(45.416) |
NA |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
118.592 |
(124.434) |
(3.730) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
92.255 |
NIL |
NIL |
|
|
TOTAL
|
92.255 |
NIL |
NIL |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.10/- Each) |
NA |
NA |
0.15 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.31
|
(9.35) |
1.50
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
(0.28) |
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.03
|
0.90 |
0.30
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.17 |
1.89
|
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
204.305 |
384.305 |
384.305 |
|
Reserves & Surplus |
(3.730) |
(124.434) |
(73.176) |
|
Net
worth |
200.575 |
259.871 |
311.129 |
|
|
|
|
|
|
long-term borrowings |
60.000 |
233.025 |
187.156 |
|
Short term borrowings |
0.000 |
0.000 |
132.404 |
|
Total
borrowings |
60.000 |
233.025 |
319.560 |
|
Debt/Equity
ratio |
0.299 |
0.897 |
1.027 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Gross Income |
369.574 |
521.567 |
864.859 |
|
|
|
41.127 |
65.819 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Gross Income |
369.574 |
521.567 |
864.859 |
|
Profit |
3.059 |
(75.288) |
5.842 |
|
|
0.83% |
(14.43%) |
0.68% |
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 |
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 |
REGISTERED OFFICE
CHANGE:
The registered office of the company has been shifted from Nirmal 20th Floor,
Nariman point, Mumbai – 400021, Maharashtra, India to the present
w.e.f.11.08.2009
UNSECURED DETAILS
|
Particular |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Term loans from others |
187.156 |
233.025 |
|
Total |
187.156 |
233.025 |
OPERATIONS
The Profit before
tax of the company is Rs. 3.290 Million for the year ended March 31, 2013 as
compared to the loss of Rs. 72.440 Million for the financial year ended March
31, 2012. The profit after tax for the year ended March 31, 2013 is Rs. 5.841
Million as compared to a loss of Rs.75.287 Million for the financial year ended
March 31, 2012.
BACKGROUND
H. B. Fuller India
Adhesives Private Limited ('the company') was incorporated on November 5, 2008
and registered under Indian Companies Act, 1956. The Company is a subsidiary of
H. B. Fuller Benelux B V (The Holding Company). The Company is engaged in the
manufacturing and sale of industrial adhesives. The Company has started its
commercial operations during financial year 2008-09.
INDEX OF CHARGE:
No Charges Exit for Company
FIXED ASSETS
- Land and Building
- Office Equipment
- Computer Equipment
- Furniture and Fixture
- Vehicle
- Plant and Machinery
- Patent and Trade Mark
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.61.95 |
|
|
1 |
Rs.104.02 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.