MIRA INFORM REPORT
|
Report No. : |
316448 |
|
Report Date : |
08.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BOBST INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gut No. 82, 124, 126 to 136 and 195 (Part) at and |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
14.08.1995 |
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|
|
|
Com. Reg. No.: |
11-091771 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 235.311 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH1995PTC091771 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEB02956C |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACB7295F |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture and sale of machines. |
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|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually correct |
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|
|
Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of “BOBST GROUP SA”. It is an established
company having satisfactory track record. Profitability of the company has declined during 2014.
However, the rating takes into consideration company’s healthy
operational risk profile marked by its sound liquidity position and financial
as well as managerial support that company receives from its parent company. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of strong parent company support, the company can be
considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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-cooperative (Tel No.: 91-20-39878000)
LOCATIONS
|
Registered Office/ Factory : |
Gut No. 82, 124, 126 to 136 and 195 (Part) at and |
|
Tel. No.: |
91-20-39878000/ 39878040 |
|
Fax No.: |
91-20-39878025/ |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 14.08.2014
|
Name : |
Mr. Jean Pascal Henri Bobst |
|
Designation : |
Director |
|
Address : |
CH. Des Cornalles 20, 1802, Corseaux, |
|
Date of Birth/Age : |
17.04.1965 |
|
Date of Appointment : |
23.05.2006 |
|
DIN No.: |
01308463 |
|
|
|
|
Name : |
Mr. Attilio Tissi |
|
Designation : |
Director |
|
Address : |
Riedlistrasse 27, 3168 Dudingen, 003168 |
|
Date of Birth/Age : |
15.11.1968 |
|
Date of Appointment : |
12.12.2011 |
|
DIN No.: |
05140557 |
|
|
|
|
Name : |
Mr. Philippe Alexandre Francois Milliet |
|
Designation : |
Director |
|
Address : |
Chemin De Leisis 24, 1009 Pully, Vaud Pully 001009 |
|
Date of Birth/Age : |
18.01.1963 |
|
Date of Appointment : |
12.12.2011 |
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DIN No.: |
05140545 |
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|
|
|
Name : |
Mr. Erik Henri Bothorel |
|
Designation : |
Director |
|
Address : |
9, Via Campagna, I-29100, Piacenza, Italy |
|
Date of Birth/Age : |
25.09.1962 |
|
Date of Appointment : |
16.07.2013 |
|
DIN No.: |
06633789 |
|
|
|
|
Name : |
Mr. Upendra Goraksha Deglurkar |
|
Designation : |
Director |
|
Address : |
901 Purshottam Apartments, Lane No.3 Off Bhandarkar Road, Pune –
411004, Maharashtra, India |
|
Date of Birth/Age : |
13.03.1967 |
|
Date of Appointment : |
09.11.2012 |
|
DIN No.: |
00902387 |
KEY EXECUTIVES
|
Name : |
Ms. Suchitra |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 14.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Bobst Group SA, Switzerland |
|
2353112 |
|
Bobst SA, |
|
2 |
|
|
|
|
|
Total |
|
2353114 |
Equity Share Break up (Percentage of Total Equity)
As on: 14.08.2014
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale of machines. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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|
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Auditors : |
|
|
Name : |
S. V. Ghatalia and Associates Chartered Accountants |
|
Address : |
C-401, 4th Floor, |
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PAN No.: |
AACFS6921Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
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Fellow Subsidiaries: |
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CAPITAL STRUCTURE
As on: 14.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2400000 |
Equity Shares |
Rs.100/- each |
Rs. 240.00 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2353114 |
Equity Shares |
Rs.100/- each |
Rs. 235.311
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
235.311 |
235.311 |
235.310 |
|
(b) Reserves & Surplus |
446.503 |
361.001 |
265.070 |
|
(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) |
681.814 |
596.312 |
500.380 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
21.480 |
12.041 |
12.940 |
|
(c) Other long term
liabilities |
114.331 |
109.077 |
141.270 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.540 |
|
Total Non-current
Liabilities (3) |
135.811 |
121.118 |
154.750 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
35.347 |
14.085 |
10.420 |
|
(b) Trade payables |
0.000 |
0.000 |
0.000 |
|
(c) Other current liabilities |
83.729 |
88.792 |
62.330 |
|
(d) Short-term
provisions |
20.921 |
21.491 |
33.320 |
|
Total Current
Liabilities (4) |
139.997 |
124.368 |
106.070 |
|
|
|
|
|
|
TOTAL |
957.622 |
841.798 |
761.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
318.441 |
299.308 |
253.210 |
|
(ii) Intangible Assets |
0.199 |
0.226 |
0.080 |
|
(iii) Capital
work-in-progress |
0.000 |
0.508 |
1.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.025 |
0.025 |
0.030 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
45.539 |
42.282 |
26.870 |
|
(e) Other Non-current
assets |
0.012 |
1.174 |
0.880 |
|
Total Non-Current
Assets |
364.216 |
343.523 |
282.070 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
322.482 |
259.329 |
314.830 |
|
(c) Trade receivables |
106.856 |
126.478 |
65.640 |
|
(d) Cash and cash
equivalents |
15.913 |
44.127 |
15.590 |
|
(e) Short-term loans
and advances |
148.155 |
68.341 |
53.270 |
|
(f) Other current
assets |
0.000 |
0.000 |
29.800 |
|
Total Current Assets |
593.406 |
498.275 |
479.130 |
|
|
|
|
|
|
TOTAL |
957.622 |
841.798 |
761.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1185.240 |
1122.870 |
1025.083 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1052.166 |
980.171 |
834.796 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
133.074 |
142.699 |
190.287 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
47.572 |
46.769 |
68.254 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
85.502 |
95.930 |
122.033 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
361.000 |
265.070 |
143.037 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
446.502 |
361.000 |
265.070 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.33 |
40.75 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Total Income |
(%) |
7.21
|
8.54 |
11.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.90 |
16.96 |
25.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.24 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
0.05 |
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.24 |
4.01 |
4.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
235.310 |
235.311 |
235.311 |
|
Reserves & Surplus |
265.070 |
361.001 |
446.503 |
|
Net worth |
500.380 |
596.312 |
681.814 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
10.420 |
14.085 |
35.347 |
|
Total borrowings |
10.420 |
14.085 |
35.347 |
|
Debt/Equity ratio |
0.021 |
0.024 |
0.052 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
1025.083 |
1122.870 |
1185.240 |
|
|
|
9.539 |
5.555 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
1025.083 |
1122.870 |
1185.240 |
|
Profit |
122.033 |
95.930 |
85.502 |
|
|
11.90% |
8.54% |
7.21% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT MATURITY LONG TERM DEBT DETAILS ARE NOT AVAILABLE.
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date :- 19/03/2014 |
|
|
|
|
|
Main
Matter Reg. No.:-ITXA/1297/2014
Reg. Date :- 20/08/2014 |
|
Petn. Adv : VIPUL ARUN BAJPAYEE (I4135) District: PUNE |
|
Status: Pre-Admission
Category: TAX APPEALS
Next Date: 07/05/2015 Stage:
FOR REJECTION [ORIGINAL SIDE MATTERS]
Last Coram: ACCORDING TO SITTING LIST ACCORDING TO
SITTING LIST |
|
Act: Income Tax Act, 1961 Under
Section:- 260A |
REVIEW OF OPERATIONS:
The turnover during the year showed a marginal improvement and was Rs.1185.240 millions against Rs. 1122.870 millions in the previous year, registering an increase of 5.5%.
During the year, raw material prices continued to show upward movement. Despite these increase, the Company was able to show a Profit before Tax of Rs 133.074 millions as against Rs. 142.699 millions in the previous year.
During the year the Profit after Tax was Rs. 85.502 millions as compared to Rs. 95.930 millions in the previous year.
After considering the carried forward profit of Rs.361.001 millions a balance of Rs. 446.503 millions was carried forward to Balance Sheet.
INDEX
OF CHARGES
|
S.NO |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10451621 |
25/09/2013 |
100,000,000.00 |
CITIBANK N. A. |
1ST FLOOR, ONYX
TOWER, NEAR WESTIN HOTEL, NORTH MAIN ROAD, KOREGAON PARK, PUNE, MAHARASHTRA -
411001, INDIA |
B85981769 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and
equipment
- Furniture and
fixtures
- Vehicles
- Office
equipment
Intangible assets
- Computer
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. 62.33 |
|
|
1 |
Rs. 92.83 |
|
Euro |
1 |
Rs. 68.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.