1. Summary Information
|
Country |
|
||
|
Company Name |
TRELLEBORG
SEALING SOLUTIONS ( |
Principal Name 1 |
Mr. Bony Paul |
|
Status |
Good |
Principal Name 2 |
Mr. Lee Weng Chong |
|
Registration # |
08-022248 |
||
|
Street Address |
No. 22/9,
Beretana Agrahara, Hosur Main Road, Bangalore – 560 100, Karnataka |
||
|
Established Date |
19.05.1997 |
SIC Code |
-- |
|
Telephone# |
91-80-33729000 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-80-33729001 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Electronic Catalog |
|
|
# of employees |
250
(Approximately) |
Product Name 2 |
Spare parts shop |
|
Paid up capital |
Rs.19,999,000/- |
Product Name 3 |
TSS Proprietary Materials |
|
Shareholders |
Foreign holdings – 100.00% |
Banking |
HSBC Bank |
|
Public Limited Corp. |
No |
Business Period |
17 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
A (60) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
United States |
Trelleborg Sealing Solutions USA Inc |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1477,371,000 |
Current Liabilities |
94,291,000 |
|
Inventories |
104,146,000 |
Long-term Liabilities |
0 |
|
Fixed Assets |
345,259,000 |
Other Liabilities |
26,724,000 |
|
Deferred Assets |
3,446,000 |
Total Liabilities |
121,015,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
1789,208,000 |
|
|
|
Net Worth |
1809,207,000 |
|
Total Assets |
1,930,222,000 |
Total Liab. & Equity |
1,930,222,000 |
|
Total Assets (Previous Year) |
1,492,972,000 |
|
|
|
P/L Statement as of |
31.12.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
1,286,080,000 |
Net Profit |
425,660,000 |
|
Sales(Previous yr) |
1,334,003,000 |
Net Profit(Prev.yr) |
483,100,000 |
MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRELLEBORG SEALING SOLUTIONS (INDIA) PRIVATE LIMITED (w.e.f.
09.01.2006) |
|
|
|
|
Formerly Known
As : |
BUSAK AND SHAMBAN SEALS AND BEARINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 22/9, Beretana Agrahara, Hosur Main Road, Bangalore – 560 100,
Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
19.05.1997 |
|
|
|
|
Com. Reg. No.: |
08-022248 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.999 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1997PTC022248 [Old] U29130KA1997PTC022248 [New] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB01159E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2089G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Importer and Exporter of Sealing Solutions. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 7300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. The company is progressing well. Financial position of the company
seems to be sound. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 – 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 PARTED BY
|
Name : |
Mr. Madhusudan |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-8033729000 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered Office / Factory 1: |
No. 22/9, Beretana Agrahara, Hosur Main Road, Bangalore – 560 100,
Karnataka, India |
|
Tel. No.: |
91-80-33729000 |
|
Fax No.: |
91-80-33729001 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
19/1, Kalena Agrahara, |
|
Tel. No.: |
91-80-25189700 |
|
Fax No.: |
91-80-26431109 |
DIRECTORS
As on 28.06.2013
|
Name : |
Mr. Bony Paul |
||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||
|
Address : |
14, 6th Main, Subash, Chandra Bose Road, Naryanpa Block, R.
T. Nagar, Bangalore – 560032, Karnataka, India |
||||||||||||||||||
|
Date of Birth/Age : |
07.05.1964 |
||||||||||||||||||
|
Qualification : |
B. Tech Mechanical |
||||||||||||||||||
|
Date of Appointment : |
01.01.2011 |
||||||||||||||||||
|
DIN No.: |
00248368 |
||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||
|
|
|||||||||||||||||||
|
Name : |
Mr. Lee Weng Chong |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
No.57, Greenfield Drive, Singapore – 457951 |
||||||||||||||||||
|
Date of Birth/Age : |
16.06.1957 |
||||||||||||||||||
|
Date of Appointment : |
11.03.2005 |
||||||||||||||||||
|
DIN No.: |
01314402 |
||||||||||||||||||
|
|
|||||||||||||||||||
|
Name : |
Mr. Lee Siew Foong |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
590, Yio Chu Kang Road, # 08-04, Singapore – 2678 |
||||||||||||||||||
|
Date of Birth/Age : |
13.03.1955 |
||||||||||||||||||
|
Date of Appointment : |
19.11.2007 |
||||||||||||||||||
|
DIN No.: |
01940162 |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name : |
Mr. Kristian Brok |
||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||
|
Address : |
S/o Mr. Karl Brok, Willemoesgade 45, |
||||||||||||||||||
|
Date of Birth/Age : |
21.01.1965 |
||||||||||||||||||
|
Date of Appointment : |
29.04.2011 |
||||||||||||||||||
|
DIN No.: |
03547902 |
||||||||||||||||||
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29130KA1997PTC022248 |
TRELLEBORG SEALING
SOLUTIONS (INDIA) PRIVATE LIMITED |
Director |
29/04/2011 |
04/04/2011 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Madhusudan |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.06.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
4000 |
20.00 |
|
|
15999 |
80.00 |
|
Total |
19,999 |
100.00 |
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image017.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image018.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image020.gif)
As on 28.06.2013
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Importer and Exporter of Sealing Solutions. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
Finished Goods Like Spare Part shop, Air Craft seal, O-ring |
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Raw Material |
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Credit (30 days) |
||||||
|
|
|
||||||
|
Purchasing : |
Credit (30 days) |
PRODUCTION STATUS (As on 31.12.2011)
|
Particulars |
Unit |
Actual
Production |
|
Seals |
Nos. |
21926226 |
GENERAL INFORMATION
|
Customer : |
End Users |
|
|
|
|
No. of Employees : |
250 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
No. 47/6, Mittel Tower, 10th Floor, C Wing, M G Road,
Bangalore – 560 001, Karnataka, India |
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
|
|
|
|
|
Others : |
|
|
|
|
|
Ultimate Holding Company: |
|
|
|
|
|
Fellow Subsidiaries : |
CIN No.: U34300DL2000PTC105242
|
CAPITAL STRUCTURE
As on 28.06.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs. 1000/- each |
Rs. 20.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19999 |
Equity Shares |
Rs. 1000/- each |
Rs. 19.999
millions |
|
|
|
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.12.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
19.999 |
|
(b) Reserves & Surplus |
|
|
1789.208 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
1809.207 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
2.765 |
|
(d) long-term
provisions |
|
|
6.612 |
|
Total Non-current Liabilities
(3) |
|
|
9.377 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
78.995 |
|
(c) Other
current liabilities |
|
|
23.959 |
|
(d) Short-term
provisions |
|
|
8.684 |
|
Total Current
Liabilities (4) |
|
|
111.638 |
|
|
|
|
|
|
TOTAL |
|
|
1930.222 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
|
342.918 |
|
(ii)
Intangible Assets |
|
|
2.341 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
3.446 |
|
(d) Long-term Loan and Advances |
|
|
138.139 |
|
(e) Other
Non-current assets |
|
|
214.183 |
|
Total Non-Current
Assets |
|
|
701.027 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
104.146 |
|
(c) Trade
receivables |
|
|
239.286 |
|
(d) Cash
and cash equivalents |
|
|
609.604 |
|
(e)
Short-term loans and advances |
|
|
191.954 |
|
(f) Other
current assets |
|
|
84.205 |
|
Total
Current Assets |
|
|
1229.195 |
|
|
|
|
|
|
TOTAL |
|
|
1930.222 |
|
SOURCES OF FUNDS |
|
31.12.2011 |
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
19.999 |
19.999 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1363.545 |
880.438 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1383.544 |
900.437 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1383.544 |
900.437 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
101.072 |
91.167 |
|
|
Capital work-in-progress |
|
142.232 |
10.870 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
5.437 |
2.823 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
80.727
|
83.111
|
|
|
Sundry Debtors |
|
215.580
|
150.764
|
|
|
Cash & Bank Balances |
|
734.823
|
500.541
|
|
|
Other Current Assets |
|
46.434
|
36.422
|
|
|
Loans & Advances |
|
166.667
|
105.943
|
|
Total
Current Assets |
|
1244.231
|
876.781
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
46.157
|
61.775
|
|
|
Other Current Liabilities |
|
48.404
|
5.664
|
|
|
Provisions |
|
14.867
|
13.765
|
|
Total
Current Liabilities |
|
109.428
|
81.204
|
|
|
Net Current Assets |
|
1134.803
|
795.577
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1383.544 |
900.437 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1286.080 |
1334.003 |
1027.166 |
|
|
|
Other Income |
NA |
NA |
32.022 |
|
|
|
TOTAL |
NA |
NA |
1059.188 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
537.833 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
537.833 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
675.120 |
735.880 |
521.355 |
|
|
|
|
|
|
|
|
|
Less |
Exceptional
Item |
11.300 |
16.390 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.100 |
0.030 |
0.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
663.720 |
719.460 |
521.255 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
35.140 |
22.170 |
26.790 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
628.580 |
697.290 |
494.465 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
202.920 |
214.190 |
103.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
425.660 |
483.100 |
391.233 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
425.660 |
483.100 |
391.233 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
468.567 |
426.133 |
371.050 |
|
|
TOTAL EARNINGS |
468.567 |
426.133 |
371.050 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Traded Good |
319.490 |
58.573 |
88.007 |
|
|
|
Traded Good, others |
18.977 |
274.165 |
233.017 |
|
|
|
Capital Goods |
89.687 |
46.565 |
3.664 |
|
|
TOTAL IMPORTS |
428.154 |
379.303 |
324.688 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
26605.41 |
24156.20 |
19562.61 |
|
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image007.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image008.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image009.gif){kind=small}
|
Particulars |
|
|
31.12.2013 |
|
Sales Turnover (Approximately) |
|
|
180.000 |
|
|
|
|
|
Expected Sales (2014 ) : Rs.220.000 Millions (Approximately)
The above information has been parted by Mr. Madhusudan (Accounts
Executive)
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
36.94
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
48.87
|
52.27
|
48.14
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
32.62
|
51.83
|
51.08
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.50
|
0.55
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.01
|
11.37
|
10.80
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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) |
|
Sales |
1,027.166 |
1,334.003 |
1,286.080 |
|
|
|
29.872 |
(3.592) |
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image022.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1,027.166 |
1,334.003 |
1,286.080 |
|
Profit After Tax |
391.233 |
483.100 |
425.660 |
|
|
38.09% |
36.21% |
33.10% |
%20PRIVATE%20LIMITED%20-%20255302%2004-Mar-2014_files/image024.gif)
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 |
Yes |
|
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 |
---- |
|
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 |
Note:
- The
registered office of the company has been shifted from No. 27, 32nd
Cross, 7th Block, Jayanagar, Bangalore – 560 070, Karnataka,
India to the present registered address w.e.f 27.04.2012
- No Charges Exist for Company
FINANCIAL RESULTS
The turnover for
the year was Rs.1286.080 Millions against Rs. 1334.003 Millions in the previous
year. During the year the company has improved the turnover by 3.59% due to general trade conditions in the local market even
though the Export sales has increased by 8.54% compared to previous year. The
drop would have been much steeper but for the recovery of INR 35.000 Millions on account of recoveries effected on certain services
effected to the Group Company.
The net profit for
the year was Rs.524.660 Millions. AS against Rs.483.100 Millions, registering a
growth of 11.89% against the previous year. The drop in Profits are related to
increases in Staff Costs, Depreciation cost due to higher investment in Plant
and in Office setup in the new premises and sales and administration cost.
The prior period
item during the year is that, the Company has provided such value indicated in
the financials to the extent of INR 11.300 Millions. Being the cost estimated
on account of certain deficiencies in documents submitted on the benefit taken
under the Advance Authorization Scheme, which was resolved during March'2013.
CORPORATE GOVERNANCE
Corporate
Governance is based on principle of integrity, fairness, equity, transparency,
accountability and commitment to values, As shareholders across the globe
evince keen interest in the practice and performance of Companies. Corporate
Governance has emerged on the Centre stage. Over the years, corporate
governance process and systems have been strengthened at the Company. In
addition to complying with the statutory requirements, effective governance
systems and practice inter alia towards transparency, disclosures, internal
controls, and promotion of workplace. The Company recognizes that good
Corporate Governance is a continuing process and reiterates its commitment to
pursue highest standards of Corporate Governance.
The Company has a
well-defined policy framework consisting of the following laid down by the
Group Company i.e. Trelleborg AB. i.e.
- Code of Ethics and Conducts
- Business Policies and Manuals
- Anti - Competition Acts.
- Internal Control Memorandum
- Key Accounting Policies
- Limit of Authorities
The Board has
adopted and practices the above Corporate Governance practices comprehensively
in the day today affairs of the Company.
The Compliance
Officer Mr. Muthu Sethuraman earlier appointed by the Board and in AGM,
overseas and monitors the Compliances detailed above.
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.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
60 |
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.