MIRA
INFORM REPORT
|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
COPERION IDEAL PRIVATE LIMITED |
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Registered
Office : |
402, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.06.1995 |
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Com. Reg. No.: |
55-070278 |
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Capital
Investment / Paid-up Capital : |
Rs. 11.831 Millions |
|
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CIN No.: [Company Identification
No.] |
U74899DL1995PTC070278 |
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IEC No.: |
0595046070 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the Manufacturing of Pneumatic Conveying Systems
and Parts. |
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2100000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go slow
on talks over coal supply contracts, uncertainty over cancellation of blocks
weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro
100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 DENIED BY
|
Name : |
Mr. Rajiv Narang |
|
Contact No.: |
91-120-4299333 |
|
Date : |
04.10.2014 |
LOCATIONS
|
Registered Office : |
402, Hemkunt Tower, 98 Nehru Place, New Delhi -110019, India |
|
Tel. No.: |
91-11-26480420/26480521 |
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Fax No.: |
91-11-26461950 |
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E-Mail : |
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Website : |
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Location : |
Leased (Commercial) |
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|
Factory : |
A-35 and A-44, Sector 64, Noida - 201307, Uttar Pradesh, India |
|
Tel. No.: |
91-120-2401686/87/88/89/90 / 4299333 |
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Fax No.: |
91-120-2401691 |
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E-Mail : |
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|
Location : |
Industrial |
DIRECTORS
As on: 29.10.2013
|
Name : |
Mr. Umesh Kumar Verma |
|
Designation : |
Managing Director |
|
Address : |
A-48, Sector - 50, Noida-201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
31.01.1950 |
|
Date of Appointment : |
14.05.2004 |
|
Din No.: |
00928314 |
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|
|
|
Name : |
Mr. Rajeev Narang |
|
Designation : |
Director |
|
Address : |
38D, DDA Flats, Gulabi Bagh, New Delhi-110007, India |
|
Date of Birth/Age : |
14.11.1969 |
|
Date of Appointment : |
30.03.2007 |
|
Din No.: |
01419966 |
|
|
|
|
Name : |
Mr. Ulf Martin Meusel Boehm |
|
Designation : |
Director |
|
Address : |
88289 Waldburg, Eichenw eg 43, Germany |
|
Date of Birth/Age : |
08.05.1961 |
|
Date of Appointment : |
16.07.2013 |
|
Din No.: |
06633863 |
|
|
|
|
Name : |
Mr. Axel Jakob Kiefer |
|
Designation : |
Director |
|
Address : |
Panoramastrasse, 36, Wolpertswende, Germany |
|
Date of Birth/Age : |
05.07.1962 |
|
Date of Appointment : |
27.09.2005 |
|
Din No.: |
02560811 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.10.2013
|
Names of Shareholders |
|
No. of Shares |
|
Umesh Kumar Verma |
|
57976 |
|
Coperion GmbH, Germany |
|
60342 |
|
|
|
|
|
Total
|
|
118318 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.10.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
51.00 |
|
Directors or relatives of directors |
|
49.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing of Pneumatic Conveying Systems
and Parts. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
|
Bankers : |
Bank of India, 1, Paras Cinema, Nehru Place, New Delhi - 110019, Delhi, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B. S. R and Company Chartered Accountants |
|
Address : |
Building No. 10, 8th Floor, Tower – B, |
|
Tel. No.: |
91-124-2549191 |
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Fax No.: |
91-124-2549101 |
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PAN No.: |
AAIFB0630K |
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Holding Company: |
·
Coperion GmbH, Germany |
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|
Step up Holding
Company: |
· Coperion Capital GmbH |
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|
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Fellow subsidiary: |
· Coperion Pte. Limited, Singapore · Coperion Machinery and Systems (Shanghai) Company Limited, Shanghai, China · Coperion International Trading (Shanghai) Company Limited, Shanghai, China · Coperion S r l Ferrara Italy · Coperion (Nanjing) Machinery Company Limited Nanjing China · Coperion Corporation, Ramsey, USA · PEG Process Equipment India LLP |
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|
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Related Party: |
· Ideal Enterprises · Noble Enterprises · Elimetal India Private Limited |
CAPITAL STRUCTURE
As on: 29.10.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
180000 |
Equity Shares |
Rs.100/- each |
Rs.18.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118318 |
Equity Shares |
Rs.100/- each |
Rs.11.832
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
11.831 |
11.831 |
11.831 |
|
(b) Reserves & Surplus |
521.178 |
401.474 |
309.894 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
533.009 |
413.305 |
321.725 |
|
|
|
|
|
|
(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 |
22.421 |
20.220 |
32.111 |
|
(d) long-term
provisions |
11.096 |
8.263 |
7.214 |
|
Total Non-current
Liabilities (3) |
33.517 |
28.483 |
39.325 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
60.638 |
|
(b)
Trade payables |
197.766 |
69.059 |
168.601 |
|
(c)
Other current liabilities |
381.307 |
151.642 |
40.447 |
|
(d) Short-term
provisions |
88.667 |
65.183 |
71.425 |
|
Total Current
Liabilities (4) |
667.740 |
285.884 |
341.111 |
|
|
|
|
|
|
TOTAL |
1234.266 |
727.672 |
702.161 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
174.122 |
155.810 |
153.624 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
2.498 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
41.105 |
29.489 |
28.830 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
9.718 |
12.490 |
17.049 |
|
Total Non-Current
Assets |
224.945 |
200.287 |
199.503 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
373.777 |
134.415 |
236.172 |
|
(c)
Trade receivables |
339.574 |
182.122 |
128.115 |
|
(d) Cash
and cash equivalents |
205.364 |
182.805 |
85.769 |
|
(e)
Short-term loans and advances |
88.059 |
25.952 |
49.574 |
|
(f)
Other current assets |
2.547 |
2.091 |
3.028 |
|
Total
Current Assets |
1009.321 |
527.385 |
502.658 |
|
|
|
|
|
|
TOTAL |
1234.266 |
727.672 |
702.161 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
897.181 |
809.585 |
446.194 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
157.627 |
107.902 |
44.131 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
37.922 |
16.322 |
15.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
119.705 |
91.580 |
28.643 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1011.72 |
774.01 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
17.57 |
13.33 |
9.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.21 |
15.51 |
6.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.26 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.84 |
1.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
11.831 |
11.831 |
11.831 |
|
Reserves & Surplus |
309.894 |
401.474 |
521.178 |
|
Net worth |
321.725 |
413.305 |
533.009 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
60.638 |
0.000 |
0.000 |
|
Total borrowings |
60.638 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.188 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Gross Income |
446.194 |
809.585 |
897.181 |
|
|
|
81.442 |
10.820 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Gross Income |
446.194 |
809.585 |
897.181 |
|
Profit |
28.643 |
91.580 |
119.705 |
|
|
6.42% |
11.31% |
13.34% |
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 |
No |
|
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 |
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 |
COMPANY OVERVIEW
Subject was incorporated on 28 June1995. The Company is a majority owned subsidiary of Coperion GmbH, Stuttgart, Germany. The Ultimate holding company is Hillenbrand Inc. It is engaged in the manufacturing of pneumatic conveying systems and parts thereof. The company is having it registered office at 402,Hemkunt Tower,98, Nehru Place, New Delhi 110019 and manufacturing plants located at Noida, Greater Noida and Special Economic Zone, Noida
FINANCIAL PERFORMANCE
During the financial year 2012-2013, the Company has shown
extraordinary performance and excellent operational level and it shall continue
and boost the business in near future also. Further the Company has received
large system orders from various clients and the same will be carried on in the
due course of time. The management of the Company is focusing on operational
efficiencies, reduction of cost at all levels and better working capital
management.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80007495 |
21/01/2012 * |
220,000,000.00 |
BANK OF INDIA |
1, PARAS CINEMA, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B32014151 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Vehicle
- Leased hold
Improvements
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. 61.75 |
|
|
1 |
Rs. 100.07 |
|
Euro |
1 |
Rs. 77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
|
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.