1. Summary Information
|
|
|
Country |
|
|
Company Name |
HONEYWELL
AUTOMATION INDIA LIMITED |
Principal Name 1 |
Mr. Madhukar Narayan Bhagwat |
|
Status |
Good |
Principal Name 2 |
Mr. Surendra Laxminarayan Rao |
|
|
|
Registration # |
11-017951 |
|
Street Address |
56 and 57, Hadapsar Industrial Estate, Pune - 411013, |
||
|
Established Date |
13.01.1984 |
SIC Code |
-- |
|
Telephone# |
91-20-66039400 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-20-66039800 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
House Ware Plastic Products |
|
|
# of employees |
2713 (Approximately) |
Product Name 2 |
House Ware Products |
|
Paid up capital |
Rs. 88.400 Millions |
Product Name 3 |
-- |
|
Shareholders |
Promoter and Promoter Group 75.00% Total Public shareholding 25.00% |
Banking |
Royal Bank of Scotland |
|
Public Limited Corp. |
YES |
Business Period |
30 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public Enterprise |
YES |
Rating |
A
(69) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
Honeywell Asia -Pacific Inc |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.12.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
10,936,400,000 |
Current Liabilities |
4,933,300,000 |
|
Inventories |
1,101,500,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
650,700,000 |
Other Liabilities |
570,800,000 |
|
Deferred Assets |
595,900,000 |
Total Liabilities |
5,504,100,000 |
|
Invest& other Assets |
29,300,000 |
Retained Earnings |
7,721,300,000 |
|
|
|
Net Worth |
7,809,700,000 |
|
Total Assets |
13,313,800,000 |
Total Liab. & Equity |
13,313,800,000 |
|
Total Assets (Previous Year) |
|
|
|
|
P/L Statement as of |
31.12.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
17,069,900,000 |
Net Profit |
861,600,000 |
|
Sales(Previous yr) |
16,607,300,000 |
Net Profit(Prev.yr) |
851,700,000 |
MIRA
INFORM REPORT
|
Report Date : |
29.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
HONEYWELL AUTOMATION INDIA LIMITED (w.e.f. March 24, 2005) |
|
|
|
|
Formerly Known
As : |
TATA HONEYWELL LIMITED |
|
|
|
|
Registered
Office : |
56 and 57, Hadapsar Industrial Estate, Pune - 411013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
13.01.1984 |
|
|
|
|
Com. Reg. No.: |
11-017951 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 88.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29299PN1984PLC017951 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET00043B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT3904F |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of House Ware Plastic Products and House Ware Products. |
|
|
|
|
No. of Employees
: |
2713 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
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 31000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Financial position of the company is sound and healthy. Liquidity
position of the company is good. No borrowings recorded by the company. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Solar Energy Grading’s |
|
Rating |
SP1A |
|
Rating Explanation |
Highest performance capability and high
financial strength. |
|
Date |
06.06.2014 |
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.
LOCATIONS
|
Registered Office / Head Office : |
56 and 57, Hadapsar Industrial Estate, Pune - 411013, Maharashtra,
India |
|
Tel. No.: |
91-20-66039400 / 26870445 / 26870446 / 26872170 / 26870153 /
66008187 / 66072725 |
|
Fax No.: |
91-20-66039800 / 26872205 / 26875957 / 66039979 |
|
E-Mail : |
|
|
Website : |
http://www.honeywell.com |
|
|
|
|
Regional Offices : |
Eco-Elite Building, Near Marol Fire Bridge, Marol Maroshi Road Next to
Zakaria Industrial Estate, Andheri (East), Mumbai – 400059, Maharashtra,
India Located At: ·
·
·
Chennai ·
·
·
Kolkata ·
New Delhi ·
|
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Madhukar Narayan Bhagwat |
|
Designation : |
Chairman and Independent Director |
|
Address : |
62, Blue Haven, 14, |
|
Date of Birth/Age : |
04.06.1932 |
|
Qualification : |
M .Mechanical Engineering |
|
Date of Appointment : |
02.11.2004 |
|
DIN No.: |
00036692 |
|
|
|
|
Name : |
Mr. Surendra Laxminarayan Rao |
|
Designation : |
Independent Director |
|
Address : |
D1, Chartered Cottage, |
|
Date of Birth/Age : |
22.01.1936 |
|
Qualification : |
B.Com, M.A in Economic |
|
Date of Appointment : |
24.01.2002 |
|
DIN No.: |
00005675 |
|
|
|
|
Name : |
Gerard Milton Willis |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.12.1953 |
|
Qualification : |
MA International Affairs, BA |
|
Date of Appointment : |
01.01.2006 |
|
DIN No.: |
02696947 |
|
|
|
|
Name : |
Norman Lee Gilsdorf |
|
Designation : |
Director |
|
Address : |
Flat # 20, Dorchester House, 8, Strand Drive, Richmond Survey, United
Kingdom, TW94DX |
|
Date of Birth/Age : |
18.12.1953 |
|
Qualification : |
Chemical engineering degree, MBA in international business and finance |
|
Date of Appointment : |
06.02.2009 |
|
DIN No.: |
02558302 |
|
|
|
|
Name : |
Mr. Anant Hari Maheshwari |
|
Designation : |
Managing Director |
|
Address : |
73, |
|
Date of Birth/Age : |
07.04.1973 |
|
Qualification : |
MBA, MS Economics, BE |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
02963839 |
|
|
|
|
Name : |
Mr. Vikas Chadha |
|
Designation : |
Managing Director |
KEY EXECUTIVES
|
Name : |
Ms. Sneha Prashant Padve |
|
Designation : |
Company Secretary |
|
Address : |
Building I, Flat # 8, Parmar Nagar, Fatima Nagar, Pune – 411 013,
Maharashtra, India |
|
Date of Birth/Age : |
19.04.1967 |
|
Qualification : |
LLB, B commerce |
|
Date of Appointment : |
14.08.1996 |
|
PAN No.: |
AEVPP7162B |
|
|
|
|
SENIOR
MANAGEMENT TEAM: |
|
|
|
|
|
Name : |
Mr. Ananthanarayanan K. V. |
|
Designation : |
Head - Lega |
|
|
|
|
Name : |
Mr. Bagaitkar Ravi |
|
Designation : |
Head - Honeywell Operating System |
|
|
|
|
Name : |
Mr. Bansal Rohit |
|
Designation : |
Head - Sensing and Controls |
|
|
|
|
Name : |
Mr. Bhagania Anurag |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Bhatia Vivek |
|
Designation : |
Head - Global Services |
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|
|
Name : |
Mr. Kelkar Anant |
|
Designation : |
Head - Integrated Supply Chain |
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|
|
Name : |
Mr. Limaye Prasad |
|
Designation : |
Head - Audit and Internal Controls |
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|
|
|
Name : |
Mr. Mellacheruvu Praveen |
|
Designation : |
Head - Strategy and Marketing |
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|
|
|
Name : |
Mr. Mitter Kaushik |
|
Designation : |
Head - Human Resources |
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|
|
|
Name : |
Mr. Singh Priyanshu |
|
Designation : |
Head - Building Solutions |
|
|
|
|
Name : |
Mr. Tumkur Savyasachi |
|
Designation : |
Head - Process Solutions |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category of
Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter and
Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
6631142 |
75.00 |
|
|
6631142 |
75.00 |
|
Total shareholding of Promoter
and Promoter Group (A) |
6631142 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1282534 |
14.51 |
|
|
824 |
0.01 |
|
|
285 |
0.00 |
|
|
4712 |
0.05 |
|
|
25876 |
0.29 |
|
|
1314231 |
14.86 |
|
|
|
|
|
|
125549 |
1.42 |
|
|
|
|
|
|
739857 |
8.37 |
|
|
29120 |
0.33 |
|
|
1624 |
0.02 |
|
|
924 |
0.01 |
|
|
700 |
0.01 |
|
|
896150 |
10.14 |
|
Total Public shareholding (B) |
2210381 |
25.00 |
|
Total (A)+(B) |
8841523 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
8841523 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of House Ware Plastic Products and House Ware Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
2713 (Approximately) |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
|
|
|
Holding Company : |
Honeywell Asia -Pacific Inc. |
|
|
|
|
Ultimate Holding Company : |
Honeywell International Inc. |
|
|
|
|
Fellow Subsidiaries : |
·
Honeywell Middle East B.V. ·
Honeywell Technology Solutions Quatar ·
Honeywell Tianjin Limited ·
Honeywell Controls and Automation India Private
Limited ·
Honeywell B.V. ·
Honeywell and Company Oman L.L.C. ·
Honeywell Pte Limited ·
Honeywell Automation and Control Solutions South
Africa (Pty) Limited ·
Honeywell Kuwait KSC. ·
Automation and Control Solutions, S. de R.L. de
C.V. ·
Honeywell Europe N.V. ·
Honeywell Systems (Thailand) Limited ·
Honeywell Limited. ( Hong Kong) ·
Enraf B.V. ·
Honeywell Technology Solutions Lab Private
Limited ·
Pittway Systems Technology Group Europe Limited ·
Honeywell Taiwan Inc. ·
Honeywell International (India) Private Limited ·
Honeywell Limited Australia ·
Honeywell Limited ·
Honeywell Enraf Americas, Inc. ·
Honeywell Measurex (Ireland) Limited ·
Honeywell Turkey Arabia Limited ·
Honeywell Controls System Limited ·
Honeywell International Middle East Limited ·
MST Technology GMBH ·
Honeywell Security France S.A. ·
Honeywell GMBH ·
Honeywell S.A. (Belgium) ·
Honeywell Airport Systems Gmbh ·
Honeywell s.r.l. ·
UOP India Private Limited ·
Honeywell Engineering Sdn. Bhd. ·
Honeywell Company Limited ·
Callidus Technologies India Private Limited ·
Honeywell Building Solutions Gmbh ·
Novar Systems Limited ·
Honeywell Middle East FZE ·
Honeywell Controls International Limited ·
Tridium Inc. ·
Honeywell Limited (New Zeland) ·
Honeywell Austria Gesellschaft mbh ·
Honeywell A.B. ·
Matrikon Pty Limited ·
Trend Control Systems Limited ·
Honeywell (China) Advanced Solutions Company
Limited ·
Honeywell Southern Africa (Proprietary) Limited ·
Honeywell Japan Inc. ·
Honeywell A/S (Denmark) ·
ADI-Gardiner NV ·
Honeywell China Company Limited ·
PT Honeywell Indonesia ·
Life Safety Distribution AG ·
Honeywell Analytics Asia Pacific Company Limited ·
Honeywell Otomasyon ve Kontrol Sistemleri Sanayi
ve ·
Ticaret A.S. ·
Honeywell Analytics Inc, ·
Honeywell Xinyao Automotive Sensors (Shanghai)
Company Limited ·
Honeywell Specialty Chemicals (Singapore) Pte.
Limited ·
Maxon Corporation ·
Honeywell ASCa Inc. ·
Maxon Combustion Equipment (Shanghai) Company
Limited ·
Maxon International BVBA ·
Fire Sentry Corporation ·
Honeywell NV [Belgium] ·
Honeywell S.L. ·
Honeywell Portugal, Automacao e Contolo, S.A. ·
Honeywell Automation and control Solutions
Carribean Limited ·
Honeywell AS Norway ·
Honeywell OY ·
Matrikon Middle East Co WLL ·
RMF US Holding Gmbh ·
Honeywell International s.a.r.l. ·
Honeywell Sensing and Control China Company
Limited ·
Honeywell E.P.E. ·
Honeywell AG ·
Honeywell International 108 LM and C ·
Matrikon Industrial Solutions India Private
Limited ·
Honeywell Chile S.A. ·
Honeywell Aerospace B.V. ·
Honeywell Turbo Technologies (India) Private
Limited ·
Honeywell Electrical Devices and Systems Limited,
India ·
Honeywell do Brasil Ltda. ·
Honeywell Egypt Limited ·
Honeywell EOOD ·
Honeywell SPA ·
Novar Gmbh ·
Enraf Fluid Technology UK Limited ·
Ademco Asia Pacific Limited ·
Tridium Asia Pacific Pte Limited ·
Honeywell BeijingTechnology solution ·
Honeywell Romania s.r.l. ·
Enraf Marine Systems S.A.S. ·
Honeywell Company Limited ·
Honeywell Turbo (India) Private Limited ·
Enraf Tanksystem SA ·
Honeywell Safety Products Chuzhou Company Limited ·
Honeywell Szabalyozastechnikai es Automatizalasi
Kft. ·
Sinpoec Honeywell Tianjin Limited ·
Honeywell Humanitarian Relief Foundation Inc. ·
Honeywell ECC novar ·
Matrikon Deutschland AG ·
Novar Controls Corporation ·
Honeywell Specialty Materials Korea Limited ·
Notifier Sicherheitssysteme GmbH ·
Honeywell C.A. ·
Caradon Friedland Inc. ·
Novar Link Inc. ·
SM Acquisition Corp. ·
Honeywell Analytics Holdings Inc. ·
Integrated Guidance Systems LLC ·
Tampa Waters LLC ·
Microelectronics and Computer Technology Corp. ·
Honeywell Aerospace Professional Services, S. de
R.L. de C.V. ·
Honeywell Aerospace De Puerto Rico, Inc. ·
Honeywell Automation Controls System LLP
s(Kazakhstan) ·
Honeywell Finance (Cyprus) Limited ·
Honeywell Colombia S.A. ·
Honeywell Luxembourg Finance SARL ·
Hand Held Products, Inc. ·
Energy Services Group, LLC ·
Hand Held Products International Limited ·
Honeywell Angola Lda ·
HONEYWELL URUGUAY S.R.L. ·
Innovative Security Systems LLC ·
Honeywell Bermuda Holdings III LP ·
Honeywell International Avionics China Inc. ·
Honeywell International Wheels and Brakes China
Inc. ·
Akuacom, LLC ·
E-MON, LLC ·
Honeywell ESCO Hungary Energy Service Company
Limited ·
Honeywell Turbo Sp.z.o.o. in liquidation ·
Honeywell Plastics S.A. ·
Asahi-Schwebel (Taiwan) Company Limited. ·
Honeywell Specialty Chemicals (Singapore) Pte
Limited ·
SN-Centro de Pesquisase Promocaode Sulfatode
Amonio Ltda. ·
Honeywell Electronic Materials (Thailand) Company
Limited ·
Honeywell International de Mexico, S. de R.L. de
C.V. ·
Compania Metalurgica de Parral, S.A. ·
FMP Automotive (Malaysia) Sdn Bhd ·
FMP Group (Australia) Pty Limited ·
Prestolite International de Mexico, S.A. ·
Norplex Oak India Limited ·
Allied-Signal Global Finance B.V. ·
Honeywell Aerospace Singapore Pte. Limited ·
Duraplug (M) Sdn Bhd ·
Honeywell ACS Ventures LLC ·
Brand-Rex Inc. (Philippines) ·
Honeywell Analytics Asia Pacific Company Limited ·
Honeywell Global Finance LLC ·
Automation and Control Solutions Holding Mexico,
S. de R.L. de C.V. ·
801 Route 440 Funding Company, LLC ·
Honeywell Building Solutions SES Corporation ·
Honeywell Aerospace Servicios, S. de R.L. de C.V. ·
Northern Computers Internacional Cia. limited
(Ecuador) ·
MMComm, LLC ·
Honeywell ManageAbility Leasing Company Jamaica
LLC ·
Honeywell Capital Management LLC ·
Honeywell Holdings (Thailand) Company Limited ·
Honeywell Aerospace Avionics Malaysia Sdn Bhd ·
UOP Malaysia Sdn Bhd ·
Callidus Technologies, L.L.C. ·
Grimes Aerospace Company ·
Honeywell International Services SRL ·
Honeywell Automation and Control Products Limited ·
Honeywell International Flight Controls China
Inc. ·
Honeywell International APU China Inc. ·
Honeywell Iraq LLC ·
Honeywell HBS Solutions LLC ·
Sperian Protection USA, Inc. ·
Honeywell Friction Materials Sp.z.o.o. in
liquidation ·
Ademco Brasil Ltda. ·
Honeywell Britannia Finance Limited ·
Honeywell-Asiatic Pte Limited ·
King Radio S.A. ·
Allied Chemical do Brasil Comercio e
Participacoes, Ltda. ·
Allied Chemical Nuclear Products, Inc. ·
Compania Industrial de Fluorita, S.A. ·
FMP Group Pty Limited ·
AlliedSignal Foreign Sales Corporation ·
Rubix Limited Liability Company ·
Cheshire Castings Limited ·
Honeywell Systems (Philippines), Inc. ·
Morristown Airport Customs Association ·
Honeywell Optoelectronica S. de R.L. de C.V. ·
Universal Assets Inc. ·
CFE Company ·
Light Helicopter Turbine Engine Company ·
Honeywell International Asia Pacific Inc. ·
Honeywell Energy Services Inc. ·
International Auto Parts Limited (a/k/a
Interzapchast) ·
Honeywell Technology Solutions Inc. ·
yet2.com ·
Honeywell Aircraft Leasing LLC ·
Honeywell Funding LLC ·
Babcock and Wilcox Technical Services Pantex, LLC ·
Honeywell Holding AG (Switzerland) ·
Honeywell Aerospace s.r.o. ·
ADI de Mexico S.A. de C.V. ·
BRH LLC ( f/k/a Honeywell Intellectual Properties
Inc.) ·
AlliedSignal TBS Holdings, Inc. ·
Honeywell, S.A. de C.V. ·
Honeywell Bremsbelag GmbH ·
Alchem Assurance Limited ·
Turbodina S.A.I.y.C. ·
Baker Electronics, Inc. ·
Honeywell Controls, S.A. ·
Friction Materials LLC ·
Cordiem, LLC ·
Xian System Sensor Electronics Limited ·
ZAO Honeywell ·
Honeywell Peru S.A. ·
Honeywell Dominicana C. Por A. ·
Honeywell S.A.I.C. ·
Honeywell Federal Manufacturing and Technologies,
LLC ·
Authentication Technologies LLC ·
Honeywell Electronic Materials, Inc. ·
Honeywell Resins and Chemicals LLC ·
Vindicator Technologies, Inc. ·
Honeywell HomMed LLC ·
465 Route 440 Property LLC ·
Novar International PTE Limited ·
MK Electric (Malaysia) SDN BHD ·
MK Electric (Singapore) Pte Limited ·
Honeywell Building Solutions West, Inc. ·
Aeronautical Communication International LLC ·
Ademco Internacional de Mexico S.A. de C.V. ·
UltraGlas Power Products L.L.C. ·
Honeywell ManageAbility Leasing Company Brazil
LLC ·
Honeywell ManageAbility Leasing Company Jamaica
LLC ·
ADI of Puerto Rico, Inc. ·
Honeywell Latinoamericana, S.A. ·
Honeywell Specialty Materials, LLC ·
Honeywell POMS Corp. ·
Honeywell China Inc. ·
Honeywell (Macau) Limited ·
Honeywell Oil and Gas Exploration LLC ·
Bayfront Redevelopment LLC ·
International Turbine Engine Company LLC ·
Select Electric (M) SDN BHD ·
MK Cable Management (Saudi Arabia) Limited ·
MK Electric Zimbabwe (Private) Limited ·
Honeywell Electronic Chemicals LLC ·
AlarmNet, Inc. ·
Honeywell ManageAbility Leasing Company Suriname
LLC ·
Honeywell ManageAbility Service Company Suriname
LLC ·
HoltraChem Manufacturing Company, L.L.C. ·
Honeywell ManageAbility Service Company Jamaica
LLC ·
Pharmaceutical Fine Chemicals Portuguesa Producao
e ·
Comercio de Productos Farmeuticos Lda. |
CAPITAL STRUCTURE
As on: 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8841697 |
Equity Shares |
Rs.10/- each |
Rs.88.400
Millions |
|
|
|
|
|
Rights, preferences and
restrictions attached to the shares
Equity shares: The Company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Reconciliation of
shares:
|
Particular |
Number of shares |
Rs. In Millions |
|
Equity shares |
|
|
|
Balance as at the beginning and end of the year |
8841523 |
88.400 |
|
|
|
|
Shares held by holding company and subsidiary of holding company
|
Particular |
Number of shares |
Rs. In Millions |
|
Equity shares |
|
|
|
Honeywell Asia Pacific Inc. (Holding company) |
6,631,142 |
66.300 |
|
|
|
|
Number of shares held by shareholders holding more than 5% of the
aggregate shares in the Company
|
Particular |
Number of shares |
Percentage |
|
Equity shares |
|
|
|
Honeywell Asia Pacific Inc. (Holding company) |
6,631,142 |
75.00% |
|
|
|
|
6,631,142 (December 31, 2012 : 6,631,142 ) Equity shares constituting 75% (December 31,2012 75%) of the paid-up capital of the Company are held by Honeywell International Inc., the ultimate holding Company, through its 100% subsidiary, Honeywell Asia Pacific Inc.
The Company has not allotted any shares as fully paid up bonus shares or pursuant to contract(s) neither payment being received in cash during 5 years immediately preceding December 31, 2013.
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2013 |
31.12.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
88.400 |
88.400 |
|
(b) Reserves & Surplus |
|
7721.300 |
6963.100 |
|
(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) |
|
7809.700 |
7051.500 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
202.200 |
234.400 |
|
Total Non-current
Liabilities (3) |
|
202.200 |
234.400 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
3761.300 |
3272.500 |
|
(c)
Other current liabilities |
|
1172.000 |
795.100 |
|
(d) Short-term
provisions |
|
368.600 |
481.700 |
|
Total Current
Liabilities (4) |
|
5301.900 |
4549.300 |
|
|
|
|
|
|
TOTAL |
|
13313.800 |
11835.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
647.400 |
713.400 |
|
(ii)
Intangible Assets |
|
3.300 |
3.600 |
|
(iii)
Capital work-in-progress |
|
29.300 |
3.700 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
595.900 |
423.100 |
|
(d) Long-term Loan and Advances |
|
1405.200 |
1177.700 |
|
(e) Other
Non-current assets |
|
236.700 |
135.900 |
|
Total Non-Current
Assets |
|
2917.800 |
2457.400 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1101.500 |
1036.700 |
|
(c)
Trade receivables |
|
3537.300 |
3754.800 |
|
(d) Cash
and cash equivalents |
|
3107.600 |
1487.700 |
|
(e)
Short-term loans and advances |
|
321.400 |
510.300 |
|
(f)
Other current assets |
|
2328.200 |
2588.300 |
|
Total
Current Assets |
|
10396.000 |
9377.800 |
|
|
|
|
|
|
TOTAL |
|
13313.800 |
11835.200 |
|
SOURCES OF FUNDS |
|
|
31.12.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
88.415 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6214.102 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6302.517 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6302.517 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
741.679 |
|
|
Capital work-in-progress |
|
|
27.270 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
403.631 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3187.470 |
|
|
Sundry Debtors |
|
|
3656.852 |
|
|
Contracts in progress |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
1765.649 |
|
|
Other Current Assets |
|
|
116.550 |
|
|
Loans & Advances |
|
|
1362.269 |
|
Total
Current Assets |
|
|
10088.790 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3574.352 |
|
|
Other Current Liabilities |
|
|
613.360 |
|
|
Provisions |
|
|
771.141 |
|
Total
Current Liabilities |
|
|
4958.853 |
|
|
Net Current Assets |
|
|
5129.937 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6302.517 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.12.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
17069.900 |
|
|
Other Income |
|
|
186.400 |
|
|
TOTAL
(A) |
|
|
17256.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
8562.200 |
|
|
Purchases of Stock-in-Trade |
|
|
1420.700 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
|
|
(37.700) |
|
|
Employees benefits expense |
|
|
2996.200 |
|
|
Other expenses |
|
|
2944.000 |
|
|
TOTAL
(B) |
|
|
15885.400 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
1370.900 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
3.900 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1367.000 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
139.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
|
|
1227.800 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
|
|
366.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
|
|
861.600 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
5458.500 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
|
|
86.200 |
|
|
Dividend |
|
|
88.400 |
|
|
Tax on Dividend |
|
|
15.000 |
|
|
BALANCE
CARRIED TO THE B/S |
|
|
6130.500 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Export |
|
|
2244.300 |
|
|
Services |
|
|
2446.600 |
|
|
Reimbursements |
|
|
788.000 |
|
|
Others |
|
|
916.600 |
|
|
TOTAL
EARNINGS |
|
|
6395.500 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Capital Goods |
|
|
25.500 |
|
|
Raw Materials |
|
|
4741.800 |
|
|
TOTAL
IMPORTS |
|
|
4767.300 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
97.47 |
|
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
16607.300 |
16124.962 |
|
|
|
Other Income |
|
111.900 |
168.650 |
|
|
|
TOTAL (A) |
|
16719.2 |
16293.612 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
|
0.000 |
9661.148 |
|
|
|
Cost of materials consumed |
|
8362.000 |
0.000 |
|
|
|
Purchases of traded goods |
|
1514.300 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
|
(201.400) |
0.000 |
|
|
|
Manufacturing service costs |
|
0.000 |
121.189 |
|
|
|
Employee related expenses |
|
0.000 |
2835.535 |
|
|
|
Employee benefits expense |
|
2972.900 |
|
|
|
|
Administrative selling other expenses |
|
0.000 |
2062.079 |
|
|
|
Other expenses |
|
2734.900 |
0.000 |
|
|
|
TOTAL (B) |
|
15382.700 |
14679.951 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
1336.500 |
1613.661 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
3.400 |
8.481 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1333.100 |
1605.180 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
139.900 |
148.119 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1193.200 |
1457.061 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
341.500 |
385.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
851.700 |
1071.433 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
4794.700 |
3933.124 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
85.200 |
107.100 |
|
|
|
Dividend |
|
88.400 |
88.400 |
|
|
|
Tax on Dividend |
|
14.300 |
14.300 |
|
|
BALANCE CARRIED
TO THE B/S |
|
5458.500 |
4794.757 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
2921.300 |
2166.032 |
|
|
|
Services |
|
2467.100 |
2724.927 |
|
|
|
Reimbursements |
|
616.200 |
487.535 |
|
|
|
Others |
|
957.200 |
670.758 |
|
|
TOTAL EARNINGS |
|
6961.800 |
6049.252 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
5453.300 |
4629.397 |
|
|
|
Capital Goods |
|
10.600 |
22.286 |
|
|
TOTAL IMPORTS |
|
5463.900 |
4651.683 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
96.33 |
121.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
4.99 |
5.09
|
6.58
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.19 |
7.18
|
9.04
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.68 |
10.46
|
13.45
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.96 |
2.06
|
2.03
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
16124.962 |
16607.300 |
17069.900 |
|
|
|
2.991 |
2.786 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
16124.962 |
16607.300 |
17069.900 |
|
Profit |
1071.433 |
851.700 |
861.600 |
|
|
6.64% |
5.13% |
5.05% |
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 |
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 |
Yes |
|
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 |
Yes |
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Bench:- Bombay |
|||
|
Presentation Date:- 27.06.2014 |
|||
|
Lodging No:- ITXAL/1234/2014 Filing
Date:- 27.06.2014 |
|||
|
Petitioner:- |
THE COMMISSINER OF INCOME TAX - IV |
Respondent:- |
HONEYWELL AUTOMATION INDIA LIMITED |
|
Petn. Adv.: |
TEJVEER SINGH MASTAN SINGH (I3978) |
Resp. Adv.: |
|
|
District:- |
PUNE |
||
|
|
|||
|
Bench:- |
SINGLE |
||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Next Date: |
25.09.2014 |
Stage: |
FOR REJECTION (ORIGINAL SIDE MATTERS) |
|
Coram: |
REGISTRAR (OS) PROTHONOTARY AND SR. MASTER |
|
|
|
Act:- Income Tax Act,
1961 Under Section :- 260A |
|||
Honeywell Process Solutions (HPS) serves core industrial sectors of Refining, Oil and Gas, Pulp and Paper, Metal and Cement etc.
Honeywell Building Solutions (HBS) provides solutions and services for facilities such as Commercial and Industrial Buildings, IT and ITES industry, Hospitals, Hotels, Airports etc.
Environment and Combustion Control (ECC) serves multiple brands through channels and offers environmental and combustion products and solutions to commercial, hospitality and industrial segments.
Sensing and Control (S and C) business provides various sensors and switches to manufacturing and automobile industry. This business serves primarily OEMs in various manufacturing industries such as auto, medical instrumentation, IT, etc.
Exports Business Group (EBG) addresses manufacturing and engineering services needs of Honeywell along with some other non-Honeywell customers across the globe, leveraging the cost, skills and knowledge arbitrage.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY OUTLOOK AND
OPPORTUNITIES
The Company's operating results are significantly influenced by macro-economic trends such as industrial production, capital spending on process and building automation, commercial and infrastructure construction, commodity prices and foreign exchange variations.
In 2012, all these macro trends started slowing down, impacting growth. During 2013 (the year ), the Indian economy continued to slow down. Capital expenditure across various sectors continued to remain stagnant with continued uncertainty in the economy. Inflation continued to remain high leading to interest rate hikes by the Reserve Bank of India, further challenging access to funds for the Company's customers. Significant adverse movement in the USD-INR exchange rate during the third quarter of 2013 has had a large impact on the Company's operating results driving costs of imported items higher. Slowdown in the industrial and infrastructure sectors has now spread to the residential construction sector as well.
Economic and industry conditions impacting industries involved in environment, security and safety also have an impact on the Company's operations. Some of the important market conditions were:
Delays in incremental investments in sectors critical for the Process Solutions business, including refining, terminals and pipelines, power generation, transmission and distribution, and oil exploration projects continued. Overall investment trends remained uncertain.
Trends in the construction sector for both commercial and residential verticals continued to remain muted due to sluggish demand for real estate. These trends have impacted the Company's ECC business.
For the S and C business, slowdown in manufacturing of machinery, capital goods and auto sectors meant significant shrinkage in available opportunities. However, the increasing level of automation in industrial and off-road automotive products is a positive trend for the business.
The changing geographic mix of global business from the developed regions (North America and Western Europe) to other geographies (e.g., the Middle East, Eastern Europe) has sustained. This affects the Company's ability to derive competitive advantages from the cost benefit of sourcing services from India by Honeywell entities.
FINANCIALS
Overall net revenue from operations at Rs. 17070.000 millions, is up 3% compared to the previous year. The domestic segment of the business registered a growth of 9%. This growth was achieved amidst competitive challenges on pricing and adverse order backlog affecting sales volumes. The exports segment revenue is lower by 9%, driven primarily by one time large export orders in the previous year.
Overall net income was Rs. 860.000 millions. The Company delivered a return of 5% on sales for the year.
Slowdown in the Indian economy and higher costs driven by inflation led to marginal growth in revenue.
Strengthening of the US dollar led to increase in cost structure, leading to an increase in the cost of production during the year.
Tight money market conditions, as witnessed in some delayed payments from customers, caused the Company to take higher charge on account of provision for doubtful debts and bad debts.
The Company continued to focus on productivity of its workforce. Average headcount for the year stood lower by 8% over the previous year.
Corporate allocation was lower by Rs. 98.000 millions, driven by lower billing, which was partially offset by a significantly weaker rupee as invoicing of allocation is in US dollars.
Cash flow from operations at Rs. 1920.000 millions, (previous year negative Rs. 170.000 millions) reflected the initiatives taken by the Company to recover its cash position despite adverse liquidity and tight money market conditions. The Company will continue to strive for better working capital performance by generating positive operating cash flows i
n proportion to its net income.
CONTINGENT
LIABILITIES
(Rs. in Millions)
|
Particular |
31.12.2013 |
31.12.2012 |
|
Income Tax claims against the Company |
834.400 |
617.200 |
|
Excise duty claims against the Company |
0.300 |
0.400 |
|
Sales tax refunds/claims against the Company |
258.400 |
233.600 |
|
Customs duty claims against the Company |
29.200 |
29.200 |
|
Claims against the Company not acknowledged as debts |
151.600 |
179.000 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
Intangible Assets
·
Product Distribution Rights HSPL
·
Oracle License
·
Software
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. 61.43 |
|
|
1 |
Rs. 99.73 |
|
Euro |
1 |
Rs. 77.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
69 |
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.