MIRA INFORM REPORT
|
Report No. : |
337238 |
|
Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
HILTI INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-90/4, Okhla Industrial Area, Phase - 1, New Delhi – 110020 |
|
Tel. No.: |
91-11-40646599 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.10.1996 |
|
|
|
|
Com. Reg. No.: |
55-082819 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.355.970 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29248DL1996PTC082819 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH02158C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH3583Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of trading of construction equipment’s. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Hilti Corporation” Liechtenstein. It is an
old and established company incorporated during the year 1996 having a good
track record. Available financial indicates company sound financial risk profile
marked by healthy networth position with fair profitability and favorable gap
between trade payable and trade receivable. Further, the rating also takes into consideration debt free balance
sheet of the company. The company also receives strong operational and managerial support from
its holding company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. In view of long track record, strong holding support and sound
financial base, the company can be considered good for normal business
dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Eknath Sanas |
|
Designation : |
Finance Department |
|
Contact No.: |
91-11-40646599 |
|
Date : |
20.08.2015 |
LOCATIONS
|
Registered Office : |
F-90/4, Okhla Industrial Area, Phase - 1, New Delhi – 110020, India |
|
Tel. No.: |
91-11-40646599 |
|
Mobile No.: |
91-9899554454 (Mr. Rohit Jain) |
|
Fax No.: |
91-11-40646599 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Regional Office : |
Plot No. 11, Sector 24, Turbhe, Sion Panvel Express Way, Vashi Off –
Sanpada Station, Navi Mumbai – 4000705, Maharashtra, India |
|
Tel. No.: |
91-22-27831347 |
DIRECTORS
As on 26.09.2014
|
Name : |
Robbert Egbert Johannes Van Der Feltz Van Der Sloot |
|
Designation : |
Director |
|
Address : |
Schalunstrasse 15, Fl-9490 Vaduz, Vaduz, 9490, Liechtenstein |
|
Date of Birth/Age : |
30.06.1961 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06437146 |
|
|
|
|
Name : |
Wouter Roderik Pool |
|
Designation : |
Whole-Time Director |
|
Address : |
C-47 Third Floor, Anand Niketan, New Delhi - 110021, India |
|
Date of Birth/Age : |
18.11.1975 |
|
Date of Appointment : |
26.09.2014 |
|
DIN No.: |
06969779 |
|
|
|
|
Name : |
Mr. Shyam Raghunandan |
|
Designation : |
Additional Director |
|
Address : |
C - 45, 3rd Floor, Friends Colony East, Delhi - 110065, India |
|
Date of Appointment : |
29.06.2015 |
|
DIN No.: |
07212504 |
KEY EXECUTIVES
|
Name : |
Manoranjan Saha |
|
Designation : |
Company Secretary |
|
Address : |
3202, GF, Street No 10, Ranjeet Nagar, New Delhi - 110008, India |
|
Date of Appointment : |
27.01.2015 |
|
PAN No.: |
ARGPS0909R |
|
|
|
|
Name : |
Mr. Eknath Sanas |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
As on 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hilti Corporation, Liechtenstein |
|
35597380 |
|
Hilti Equipment Corporation, Furstentum |
|
10 |
|
Total |
|
35597390 |
As on 26.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading of construction equipment’s. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Tools |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/60/90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/60/90 Days) |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OMEs
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No. of Employees : |
100 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
T. R. Chadha and Company Chartered Accountants |
|
Address : |
B-30, Kuthiala Building, First Floor, Middle Cir, Block B, Connaught Place, New Delhi – 110001, India |
|
PAN No.: |
AAAHT3209J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
Hilti Corporation, Principality of Liechtenstein |
|
|
|
|
Fellow Subsidiary : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35700000 |
Equity Shares |
Rs.10/- each |
Rs.357.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35597390 |
Equity Shares |
Rs.10/- each |
Rs.355.970
Million |
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 |
355.970 |
355.970 |
355.970 |
|
(b) Reserves &
Surplus |
1026.000 |
972.450 |
931.430 |
|
(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) |
1381.970 |
1328.420 |
1287.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
82.890 |
354.880 |
|
(b) Trade payables |
1039.670 |
615.420 |
583.000 |
|
(c) Other current
liabilities |
167.870 |
132.530 |
92.990 |
|
(d) Short-term provisions |
27.890 |
8.480 |
6.030 |
|
Total Current Liabilities
(4) |
1235.430 |
839.320 |
1036.900 |
|
|
|
|
|
|
TOTAL |
2617.400 |
2167.740 |
2324.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
84.650 |
86.860 |
92.460 |
|
(ii) Intangible Assets |
0.400 |
0.630 |
0.560 |
|
(iii) Capital
work-in-progress |
0.000 |
0.290 |
8.800 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
89.750 |
64.410 |
61.940 |
|
(d) Long-term Loan and Advances |
42.170 |
39.960 |
25.590 |
|
(e) Other Non-current
assets |
2.520 |
0.770 |
2.230 |
|
Total Non-Current Assets |
219.490 |
192.920 |
191.580 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
564.480 |
532.840 |
627.160 |
|
(c) Trade receivables |
1104.740 |
860.030 |
845.470 |
|
(d) Cash and cash
equivalents |
558.840 |
432.460 |
504.980 |
|
(e) Short-term loans and
advances |
11.560 |
26.470 |
17.910 |
|
(f) Other current assets |
158.290 |
123.020 |
137.200 |
|
Total Current Assets |
2397.910 |
1974.820 |
2132.720 |
|
|
|
|
|
|
TOTAL |
2617.400 |
2167.740 |
2324.300 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL REVENUE |
3526.300 |
3291.550 |
2972.530 |
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
90.970 |
64.420 |
99.100 |
|
|
|
|
|
|
|
Less |
TAX |
37.420 |
23.400 |
32.340 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
53.550 |
41.020 |
66.760 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.50 |
1.15 |
1.87 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
The above information has been parted by Mr. Eknath Sanas (Finance
Department).
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
294.810 |
253.860 |
(115.890) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.60 |
3.06 |
4.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.05 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.06 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.94 |
2.35 |
2.06 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
355.970 |
355.970 |
355.970 |
|
Reserves & Surplus |
931.430 |
972.450 |
1026.000 |
|
Net worth |
1287.400 |
1328.420 |
1381.970 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
354.880 |
82.890 |
0.000 |
|
Total borrowings |
354.880 |
82.890 |
0.000 |
|
Debt/Equity ratio |
0.276 |
0.062 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2972.530 |
3291.550 |
3526.300 |
|
|
|
10.732 |
7.132 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2972.530 |
3291.550 |
3526.300 |
|
Profit |
66.760 |
41.020 |
53.550 |
|
|
2.25% |
1.25% |
1.52% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------------------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------------------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------------------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
---------------------- |
|
33 |
Market information |
---------------------- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Other loans and advances |
0.000 |
82.890 |
|
Total |
0.000 |
82.890 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and fixtures
- Vehicles
- Office equipment
- Leasehold improvements
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration:
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration:
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime:
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws:
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards:
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government:
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package:
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report:
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.23 |
|
|
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.