MIRA
INFORM REPORT
|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMERSON ELECTRIC COMPANY ( EMERSON EXPORT ENGINEERING CENTRE A DIVISION OF EMERSON ELECTRIC
COMPANY ( |
|
|
|
|
Registered
Office : |
301 Solitaire 151 M V Road Andheri East, Mumbai – 400093, |
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|
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|
Country : |
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|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.04.1995 |
|
|
|
|
Com. Reg. No.: |
11-087858 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 59.060 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29190MH1995PTC087858 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE1260B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Providing Engineering and Software Service |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having a fine track. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. 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.
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
Management Non co-operative (91-20-67047000)
LOCATIONS
|
Registered Office : |
301 Solitaire 151 M V Road Andheri east, Mumbai – 400093, Maharashtra,
India |
|
Tel. No.: |
91-22-66942711 |
|
Fax No.: |
91-22-28253394 |
|
E-Mail : |
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|
|
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Division |
Near College of Engineering Wakdewadi, Shivaji Nagar, Pune – 411005,
Maharashtra, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rajesh vinodrai shah |
|
Designation : |
Director |
|
Address : |
C-202, Arihant Govind Nagar, Sodawala Lane, Borivli (West), Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1966 |
|
Date of Appointment : |
26.09.2011 |
|
DIN No. : |
00738267 |
|
|
|
|
Name : |
Mr. Balan Chandramauli |
|
Designation : |
Director |
|
Address : |
Row House No. 6, Excel Park, Plot No. 2, Sector 6, Airoli, Navi Mumbai
– 400708, Maharashtra, India |
|
Date of Birth/Age : |
16.03.1965 |
|
Date of Appointment : |
13.06.2013 |
|
DIN No. : |
03121681 |
|
|
|
|
Name : |
Mr. Yogesh Gajanan Somalwar |
|
Designation : |
Director |
|
Address : |
A/303 Hill Grange Chs Hiranand Estate, Patlipada, Ghodbunder, Road. Thane West – 400607, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
09.09.1965 |
|
Date of Appointment : |
17.08.2010 |
|
DIN No. : |
03184087 |
|
|
|
|
Name : |
Mr. Rajesh Purushottam Bhave |
|
Designation : |
Director |
|
Address : |
Govind Smruti, 53, Shailesh Society, Karve Nagar, Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
10.1.1965 |
|
Date of Appointment : |
24.10.2011 |
|
DIN No. : |
03641674 |
|
|
|
|
Name : |
Mr. Sara Yang Bosco |
|
Designation : |
Director |
|
Address : |
Flat 6b Residential No 3, Chinesc, University Of Hong Kong, Shatin New Territories, Na, Hong Kong |
|
Date of Birth/Age : |
20.05.1958 |
|
Date of Appointment : |
24.10.2011 |
|
DIN No. : |
05124113 |
|
|
|
|
Name : |
Mr. Sanjay Suresh Kulkarni |
|
Designation : |
Director |
|
Address : |
Emp- 72/402, Sector - 1, Evershi Moon Chs Limited, Thakur Village, Kandivali, Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
19.04.1970 |
|
Date of Appointment : |
14.12.2011 |
|
DIN No. : |
05325681 |
|
|
|
|
Name : |
Mr. Anantha Subrahmanyasharma Vishalakshikrishna |
|
Designation : |
Director |
|
Address : |
Flat # 2p, 8, Kalyani B Building, Aditya's A Garden City, Warje, Pune – 411058, Maharashtra, India |
|
Date of Birth/Age : |
18.05.1966 |
|
Date of Appointment : |
17.01.2013 |
|
DIN No. : |
06476337 |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Emerson
Electric(Mauritius) Limited |
5905955 |
|
Mr. Dara Shah Mehta – Nominee of M/s. Emerson Electric (Mauritius) Limited, as the 100% shares of the company held by Emerson Electric (Mauritius)Limited |
10 |
|
Total |
5905965 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
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 |
%20PRIVATE%20LIMITED%20-%20288041_MIRA%2030-Sep-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Providing Engineering and Software Service |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
Not Available |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
M/s BBSR and Company Chartered Accountants |
|
Address : |
703, 7th floor, Godrej, Castlemaine, Next to Ruby Hallclinic Bund Garden Road |
|
PAN No.: |
AAKFB4397F |
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Ultimate Holding Company: |
Emerson Electric Company, USA |
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Holding Company: |
Emerson Electric Mauritius Limited |
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Associate: |
Emerson Process Management (India) Private limited |
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|
Related Parities : |
· Alpret Control Specialists – a Division of Aveng (Africa) Limited · Asco Joucomatic SA France · Asco Numatics (India) Private Limited · Asco numatics, United Kingdom · Asco power Technologies, United states · Asco Valve Inc. United states · Avocent Corporation, United states · Branson KoreaLLimited, Korea , Republic of · Branson Ultrasonics - Germany · Branson Ultrasonics (Asia pacific) Company Limited Hong Kong · Branson Ultrasonics (shanghai) Company Limited, Hong Kong · Branson Ultrasonics Corporation, Danbury United states · Branson Ultrasonics Emerson japan Limited Japan · Branson Ultrasonics SA Switzerland · Branson Ultrasonics Singapore · Branson Ultrasonics Malaysia · Bristol, Inc. · Emerson Electric Canada Limited, Canada · Chloride France SA, France · Clive simuels And associates Inc., United states · Control techniques India private Limited · Control Techniques Limited, United Kingdom · Daniel Measurement And control, Inc. · Daniel Measurement Controls, United states · Daniel Measurement Solutions private Limited · Egs Electrical Group Ilc United states · Egs Private Limited Singapore · Embedded Computing, United states · Emerson (Thailand) Limited, Thailand · Emerson A.S. Slovakia · Emerson Appliance Control, United states · Emerson Arabia Inc · Emerson Argentina SA Argentina · Emerson climate Technologies (India) limited · Emerson Climate Technologies Inc., United states · Emerson D.O.O. · Emerson Electric (Japan) Limited · Emerson Electric (Thailand) Limited · Emerson Electric Asia Pacific Pte Limited · Emerson Electiric Asia Pacific Pte Limited · Emerson Electric Company · Emerson Electric CR. Limited · Emerson E n e r g y Systems Division · Emerson Industrial Automation Electric power Generation (India) p · Emerson Industrial Automation (Power Transmission Solutions) · Emerson japan, Limited · Emerson Iic · Emerson Network Power Embedded Computing Gmbh · Emerson Network Power (India) Private limited · Emerson Network · Power (Singapore) Pte Limited · Emerson Network Power Embedded Pomputing inc · Emerson Network Power India Limited · Emerson Network Power (Singapore) Pte Limited · Emerson Network Power Embedded Computing inc · Emerson Network Power India Limited · Emerson Proces s Management (India) Private Limited · Emerson Proces s Management(Malaysia) SDN BHD · Emerson Proces s Management AS · Emerson Proces s Management AB · Emerson Proces s Management AG · Emerson Proces s Management AS · Emerson Preocess Management Asia Pacific Limited · Emerson Proces s Management Asia pacific pte Limited · Emerson Proces s Management Australia pty Limited · Emerson Proces s Management Automation Inc · Emerson Proces s Management Bv · Emerson Proces s Management Chennai Limited · Emerson Proces s Management Company Limited · Emerson Proces s Management Control Engineering Limited · Emerson Proces s Management Distribution Limited · Emerson Proces s Management Europe gmbh · Emerson Proces s Management Flow bv · Emerson Proces s Management Gmbh and Company ohg · Emerson Proces s Management Inc, · Emerson Proces s Managemenr India Private Limited · Emerson Proces s Management k · Emerson Proces s Management Korea Limited · Emerson Proces s Management Lllp · Emerson Proces s Management Lllp · Emerson Proces s Management Limited · Emerson Proces s ManagementOy · Emerson Proces s Management Power & waterSolutions inc. · Emerson Proces s Management Power & water Solutions inc. · Emerson Proces s Management Power and Water Solutions SP Z.O. · Emerson Proces s Management And water Soutions, India P · Emerson Proces s Management Qatar SSC · Emerson Proces s Management S.L. · Emerson Proces s Management SAS · Emerson Proces s Management Shared Services Limited · Emerson Proces s Management Sro · Emerson Proces s Management Tie Limited sti · Emerson Proces s Management V a l v e Automation Inc · Emerson Proces s Management S.A. DE C.V. · Emerson Srl, Pss · Emerson Storage Solutions inc · Emerson tool Company · Enp-ep Asteo America inc · Fisher Controls International Inc · Fisher Rosemount System, inc · Gas Chromatograph Division · Leroy Somer Electro Technique (Fuzhou) · Leroy Soer India Private Limited · Marshallown Fisher Controls International Llc · Metco Servies Limited · Micro Motion Inc. · Mobrey Limited · Moten · In-Sink-Erator · Intermetro Industrial Corporation · Knaack Manufacturing Company · Leroy Somer Controls India Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5905975 |
Equity Shares |
Rs.10/- each |
Rs. 59.060 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 |
59.060 |
59.060 |
59.060 |
|
(b) Reserves &
Surplus |
3665.906 |
3034.844 |
2519.701 |
|
(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) |
3724.966 |
3093.904 |
2578.761 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.294 |
1.154 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
57.587 |
48.605 |
45.885 |
|
(d) long-term provisions |
173.285 |
136.163 |
104.884 |
|
Total Non-current
Liabilities (3) |
230.872 |
185.062 |
151.923 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
322.955 |
172.869 |
90.074 |
|
(c) Other current
liabilities |
194.324 |
218.493 |
148.203 |
|
(d) Short-term provisions |
146.120 |
59.175 |
53.871 |
|
Total Current Liabilities
(4) |
663.399 |
450.537 |
292.148 |
|
|
|
|
|
|
TOTAL |
4619.237 |
3729.503 |
3022.832 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
763.985 |
673.735 |
541.182 |
|
(ii) Intangible Assets |
76.821 |
68.264 |
54.807 |
|
(iii) Capital
work-in-progress |
15.815 |
11.444 |
0.748 |
|
(iv) Intangible assets
under development |
0.200 |
4.547 |
0.000 |
|
(b) Non-current
Investments |
751.875 |
751.875 |
0.000 |
|
(c) Deferred tax assets
(net) |
163.738 |
128.930 |
102.102 |
|
(d) Long-term Loan and Advances |
678.114 |
697.978 |
656.999 |
|
(e) Other Non-current
assets |
3.250 |
3.250 |
3.250 |
|
Total Non-Current Assets |
2453.798 |
2340.023 |
1359.088 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
51.129 |
23.057 |
24.730 |
|
(c) Trade receivables |
692.940 |
527.504 |
480.941 |
|
(d) Cash and cash
equivalents |
973.688 |
527.891 |
911.950 |
|
(e) Short-term loans and
advances |
278.499 |
189.930 |
140.879 |
|
(f) Other current assets |
169.183 |
121.098 |
105.244 |
|
Total Current Assets |
2165.439 |
1389.480 |
1663.744 |
|
|
|
|
|
|
TOTAL |
4619.237 |
3729.503 |
3022.832 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
5430.028 |
4224.819 |
3227.035 |
|
|
|
|
|
|
|
Less |
EXPENSES TOTAL |
4264.045 |
3287.452 |
2432.860 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1165.983 |
937.367 |
794.175 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
183.500 |
151.885 |
121.985 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
982.483 |
785.482 |
672.190 |
|
|
|
|
|
|
|
Less |
TAX |
351.422 |
270.339 |
123.831 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
631.061 |
515.143 |
548.359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
5.073 |
3.981 |
2.984 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
106.85 |
87.22 |
92.45 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
11.62 |
12.19 |
16.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.64 |
27.73 |
23.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.25 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.26 |
3.08 |
5.69 |
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 |
59.060 |
59.060 |
59.060 |
|
Reserves & Surplus |
2519.701 |
3034.844 |
3665.906 |
|
Net worth |
2578.761 |
3093.904 |
3724.966 |
|
|
|
|
|
|
long-term borrowings |
1.154 |
0.294 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
1.154 |
0.294 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.000 |
%20PRIVATE%20LIMITED%20-%20288041_MIRA%2030-Sep-2014_files/image004.gif)
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) |
|
Sales |
3227.035 |
4224.819 |
5430.028 |
|
|
|
30.920 |
28.527 |
%20PRIVATE%20LIMITED%20-%20288041_MIRA%2030-Sep-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3227.035 |
4224.819 |
5430.028 |
|
Profit |
548.359 |
515.143 |
631.061 |
|
|
16.99% |
12.19% |
11.62% |
%20PRIVATE%20LIMITED%20-%20288041_MIRA%2030-Sep-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
0.168 |
0.859 |
0.785 |
|
Total |
0.168
|
0.859 |
0.785 |
|
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 |
No |
|
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 |
No |
|
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 |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
ITXAL/3035/2009 |
Failing Date:- |
24/12/2009 |
Reg. No.:- |
ITXA/414/2010 |
Reg. Date:- |
15/01/2010 |
|
|
|||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX – 3 MUMBAI |
Respondent:- |
EMERSON ELECTRIC COMPANY (INDIA) PRIVATE LIMITED |
||||
|
Petn.Adv:- |
VIMAL GUPTA (0) |
Resp. Adv.: |
ATUL K JASANI (0) |
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||
|
Status:- |
Admitted (Unready) |
Stage:- |
FOR ADMISSION - AFTER NOTICE (HIGH ON BOARD) |
||||
|
Last Date:- |
01/03/2011 |
|
|||||
|
Last Coram:- |
HON'BLE SHRI JUSTICE J.P. DEVADHAR HON'BLE MRS. JUSTICE MRIDULA BHATKAR |
||||||
|
|
|
||||||
|
Act. : |
Income Tax Act, 1961 |
Under Section 260A |
|||||
OPERATIONS
All the Company’s business Divisions have performed well during the year and the Company’s brand name continues to be in high demand on account of excellence of products and services. As a result, profits have increased substantially.
VIEW INDEX OF
CHARGES: No Charges Exist for Company
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loans from banks |
0.000 |
0.294 |
|
Total |
0.000 |
0.294 |
FIXED ASSETS
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.42 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.