MIRA INFORM REPORT
|
Report No. : |
309346 |
|
Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALFA LAVAL INDIA LIMITED |
|
|
|
|
Registered
Office : |
Mumbai-Pune Road, Dapodi, Pune – 411012, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
15.12.1937 |
|
|
|
|
Com. Reg. No.: |
11-002732 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 181.605 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN1937PLC002732 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA00381D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA5899A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Industrial Equipment and Process Solutions. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflect Alfa Laval India’s robust financial risk profile
supported by its debt-free balance sheet as well as large net worth, and
strong business risk profile reflected in its established market position in
the process technology and equipment segments. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: “AA+” |
|
Rating Explanation |
High degree of safety to carry very low credit risk. |
|
Date |
06.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ |
|
Rating Explanation |
Very strong degree of safety. It carry lowest credit risk. |
|
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.
INFORMATION DECLINED BY
Management non co-operative (91-20-67341100 / 91-33-22825906 /
91-265-2250068)
LOCATIONS
|
Registered Office : |
Mumbai-Pune Road, Dapodi, Pune – 411012, Maharashtra, India |
|
Tel. No.: |
91-20-27107100/ 66119100/ 27147721/ 7728/ 776321/ 797711 |
|
Fax No.: |
91-20-27147711/ 779479 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory 1 : |
Gat No.30 to 33 and 74 to 82, Sarole Veer Road, Sarole – 412205, Taluka Bhor, District Pune, Maharashtra, India |
|
Tel. No.: |
91-2113-282367 |
|
Fax No.: |
91-2113-282301 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
E-7/ E-8, M.I.D.C. Estate, Satara - 415004, |
|
Tel. No.: |
91-2162-244503 |
|
Fax No.: |
91-2162-244268 |
|
|
|
|
Head/ Corporate/ Sales Office 1: |
Office No. 301, Global Port Building Survey No. 45/1-10, Mumbai Bangalore
Highway Baner, Pune - 411045, Maharashtra, India |
|
Tel. No.: |
91-20-67341100 |
|
Fax No.: |
91-20-67341115 |
|
E-Mail : |
|
|
|
|
|
Sales Office 2 : |
901-A, BSEL Tech Park, Sector 30 A, Vashi, Opp. Vashi Ply.
Station, |
|
Tel. No.: |
223-9116200 |
|
Fax No.: |
223-9116225 |
|
|
|
|
Sales Office 3 : |
Plot No. A-18, Road No. 4, Vikrampuri, Secunderabad – 500009, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27846287 |
|
Fax No.: |
91-40-27843778 |
|
E-Mail : |
|
|
|
|
|
Parts and Service
Centre : |
Plot No. R-674, MIDC
Rebale, TTC Industrial Area, Post Ghansoli, Navi Mumbai - 400701,
Maharashtra, India |
|
Tel. No.: |
91-22-27691832 |
|
Fax No.: |
91-22-27607834 |
|
|
|
|
Other Sales Offices : |
Located At: · Chennai · Kolkata · Indore · Vadodara · Chandigarh · Kanpur · Kochi · Jamshedpur · Nagpur · Raipur · Visakhapatnam · Pune |
DIRECTORS
AS ON 19.06.2014
|
Name : |
Mr. Raymond John Field |
|
Designation : |
Director |
|
Address : |
41 D, Pat Heung, Ha Che Tsuen, PAT Heung, Yuen Long, Hong Kong, China |
|
Date of Birth/Age : |
11.05.1954 |
|
Date of Appointment : |
22.06.2012 |
|
DIN No.: |
00867545 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN1937PLC002732 |
ALFA LAVAL INDIA
LIMITED |
Director |
22/06/2012 |
27/10/2004 |
Active |
NO |
|
Name : |
Jan Hedemann |
|
Designation : |
Managing director |
|
Address : |
6, Kingfisher PL, West Pennant Hills, NSW Sydney, Australia, 2125 |
|
Date of Birth/Age : |
06.02.1955 |
|
Qualification : |
Diploma in Fianace and Administration and Diploma in International Management |
|
Date of Appointment : |
07.10.2013 |
|
Date of Cessation : |
31.12.2014 |
|
DIN No. : |
06678084 |
|
|
|
|
Name : |
Mr. Manoj Diwakar Barve |
|
Designation : |
Director |
|
Address : |
Flat No. 11, Kumar Padmlya, S.No. 160/1, Building No. A-5, DP Road, Aundh, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1964 |
|
Qualification : |
CA, CWA and CPA |
|
Date of Appointment : |
21.06.2012 |
|
PAN No.: |
AOBPB0872N |
|
DIN No.: |
03097616 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U25199WB1990PTC050048 |
MCD Nitrile
India Private Limited |
Director appointed
in casual vacancy |
16/06/2010 |
16/06/2010 |
Active |
NO |
|
2 |
U29299PN1937PLC002732 |
ALFA LAVAL INDIA
LIMITED |
Whole-time
director |
21/06/2012 |
21/06/2012 |
Active |
NO |
|
Name : |
Kanulal Gorane Bhatu |
|
Designation : |
Director |
|
Address : |
B-402, Surobhi Park, S. No. 161/162, DP Road, Aundh, Pune - 411007, Maharashtra, India |
|
Date of Birth/Age : |
13.09.1968 |
|
Qualification : |
B. E. (Mechanical) |
|
Date of Appointment : |
21.06.2012 |
|
PAN No.: |
ABFPG8341J |
|
DIN No.: |
03516243 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN2005PTC020621 |
FLAGON ENGINEERS
PRIVATE LIMITED |
Director |
25/04/2005 |
25/04/2005 |
30/03/2011 |
Active |
NO |
|
2 |
U29299PN1937PLC002732 |
ALFA LAVAL INDIA
LIMITED |
Whole-time
director |
21/06/2012 |
21/06/2012 |
- |
Active |
NO |
|
Name : |
Henrik Hakan Mattias Holm |
|
Designation : |
Director |
|
Address : |
Flat No. C-1/F-68, MacDonnell Road, Mid Levels, Hong Kong |
|
Date of Birth/Age : |
04.03.1970 |
|
Qualification : |
Bachelor of Science and MS in Business and Economics |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
05336337 |
OTHER DIRECTORSHIP:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29299PN1937PLC002732 |
ALFA LAVAL INDIA
LIMITED |
Director |
30/04/2013 |
21/06/2012 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Viswanathan Chandrasekhar |
|
Designation : |
Company Secretary |
|
Address : |
P-402, Laburnum Park, Magarpatta City, Hadapsar, Pune – 411013,
Maharashtra, India |
|
Date of Birth/Age : |
20.01.1958 |
|
Date of Appointment : |
20.08.1993 |
|
PAN No.: |
AANPC6399P |
|
|
|
|
Name : |
Mr. Mahesh |
|
Designation : |
Logistic Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.06.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 19.06.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Nationalised or other banks |
0.03 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
98.20 |
|
Bodies corporate |
0.02 |
|
Other top fifty shareholders |
0.43 |
|
Others |
1.32 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Industrial Equipment and
Process Solutions. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
Not Divulged |
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Facilities : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
C-401, Fourth Floor, Panchshil Tech Park, Yerwada, Pune - 411006,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3421N |
|
|
|
|
Holding Company : |
Alfa Laval Corporate AB, Sweden |
|
|
|
|
Ultimate Holding
Company : |
Alfa Laval AB, Sweden |
|
|
|
|
Other related
parties with whom transactions have taken place during the year : |
Argentina · Alfa Laval S.A. Australia · Alfa Laval Australia Pty Limited Austria · Alfa Laval (Austria) Mid Europe GmbH Brazil · Alfa Laval Ltda Bulgaria · Alfa Laval Sofia Limited Canada · Alfa Laval Inc Chile · Alfa Laval S.A.C.I China · Alfa Laval (China) Limited · Alfa Laval Flow Equipment (Kunshan) Co. Limited · Alfa Laval (Jiangyin) Manufacturing Company Limited · Alfa Laval (Shanghai) Technologies Co. Limited · Alfa Laval (Kunshan) Manufacturing Company Limited · Wuxi MCD Gasket Co. Limited · Alfa Laval Qingdao Limited Denmark · Alfa Laval Copenhagen A/S · Alfa Laval Tank Equipments A/S · Alfa Laval Kolding A/S · Alfa Laval Nakskov A/S · Alfa Laval Nordic A/S · Scandi Brew · Alfa Laval Aalborg A/S Finland · Alfa Laval Nordic OY · Alfa Laval Vantaa OY France · Alfa Laval Vicarb SAS · Alfa Laval SAS · Alfa Laval France SAS · Alfa Laval Spiral SAS · Alfa Laval Moatti SAS · Alfa Laval Moatti SNC · Alfa Laval Packinox SA · Alfa Laval HES SA · MCD SAS Germany · Alfa Laval (Germany) Mid Europe GmbH · Alfa Laval Dortmund GmbH Greece · Alfa Laval AEBE India · Alfa Laval Support Services Private Limited CIN No.: U72900MH2005PTC151274 · Tranter India Private Limited CIN No.: U29299PN2005PTC021523 Indonesia · PT Alfa Laval Italy · Alfa Laval SpA · Astepo Srl · Alfa Laval Parma Srl · Alfa Laval Artec SpA · Alfa Laval Olmi SpA Japan · Alfa Laval KK South Korea · Alfa Laval Korea Limited Mexico · Alfa Laval S.A. de CV Malaysia · Alfa Laval (Malaysia) Sdn Bhd Netherlands · Alfa Laval Groningen B.V. · Alfa Laval Benelux NV-SA · Alfa Laval Benelux B.V. Norway · Alfa Laval Nordic A/S Peru · Alfa Laval S.A. Phillipines · Alfa Laval Philippines Inc Poland · Alfa Laval Krakow Sp. z o. o. · Alfa Laval Polska Sp. z o. o. Romania · Alfa Laval Srl Russia · A/O Alfa Laval Potok Singapore ·
· Alfa Laval, Singapore Pte Limited · Alfa Laval Aalborg Pte Limited Spain · Alfa Laval Iberia SA South Africa · Alfa Laval (Pty) Limited Sweden · Alfa Laval Tumba AB · Alfa Laval Treasury International AB · Alfa Laval Holding AB · Alfa Laval Lund AB · Alfa Laval Nordic AB · Alfa Laval Quality Moving AB Taiwan · Alfa Laval Taiwan Limited Thailand · Alfa Laval (Thailand) Limited Turkey · Alfa Laval Makine Sanayii ve Ticaret Limited Sti. UAE · Alfa Laval Middle East Limited United
Kingdom · Alfa Laval Limited · Alfa Laval Pumps Limited · Alfa Laval Eastbourne Limited USA · Alfa Laval Inc · Alfa Laval Distribution Inc |
CAPITAL STRUCTURE
AS ON 19.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18160567 |
Equity Shares |
Rs.10/- each |
Rs. 181.606
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18160483 |
Equity Shares |
Rs.10/- each |
Rs. 181.605
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
181.605 |
181.605 |
181.605 |
|
(b) Reserves & Surplus |
7219.276 |
5864.934 |
4715.015 |
|
(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) |
7400.881 |
6046.539 |
4896.620 |
|
|
|
|
|
|
(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 |
65.214 |
73.273 |
78.208 |
|
(d) long-term
provisions |
46.251 |
41.761 |
77.016 |
|
Total Non-current
Liabilities (3) |
111.465 |
115.034 |
155.224 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
2007.595 |
1823.839 |
1916.117 |
|
(c) Other
current liabilities |
1322.248 |
1264.368 |
1641.497 |
|
(d) Short-term
provisions |
446.778 |
481.000 |
938.586 |
|
Total Current Liabilities
(4) |
3776.621 |
3569.207 |
4496.200 |
|
|
|
|
|
|
TOTAL |
11288.967 |
9730.780 |
9548.044 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1827.289 |
1884.338 |
1150.512 |
|
(ii)
Intangible Assets |
2.140 |
1.427 |
1.795 |
|
(iii)
Capital work-in-progress |
189.265 |
93.197 |
186.610 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
115.137 |
100.138 |
80.138 |
|
(c) Deferred tax assets (net) |
231.394 |
202.930 |
141.926 |
|
(d) Long-term Loan and Advances |
829.912 |
749.321 |
839.844 |
|
(e) Other
Non-current assets |
233.617 |
366.356 |
452.898 |
|
Total Non-Current
Assets |
3428.754 |
3397.707 |
2853.723 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
1974.515 |
876.650 |
468.641 |
|
(b)
Inventories |
2449.564 |
2342.382 |
2377.058 |
|
(c) Trade
receivables |
2314.885 |
1962.995 |
2222.761 |
|
(d) Cash and
cash equivalents |
510.954 |
507.799 |
1075.164 |
|
(e)
Short-term loans and advances |
248.612 |
410.656 |
389.290 |
|
(f) Other
current assets |
361.683 |
232.591 |
161.407 |
|
Total
Current Assets |
7860.213 |
6333.073 |
6694.321 |
|
|
|
|
|
|
TOTAL |
11288.967 |
9730.780 |
9548.044 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11168.235 |
10511.801 |
11541.746 |
|
|
|
Other Income |
289.377 |
289.183 |
409.000 |
|
|
|
TOTAL (A) |
11457.612 |
10800.984 |
11950.746 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5326.070 |
5515.819 |
6487.242 |
|
|
|
Purchases of Stock-in-Trade |
389.035 |
440.476 |
295.276 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
8.375 |
(252.855) |
(241.881) |
|
|
|
Employees benefits expense |
1127.397 |
984.804 |
950.887 |
|
|
|
Other expenses |
2368.825 |
2215.633 |
2389.092 |
|
|
|
TOTAL (B) |
9219.702 |
8903.877 |
9880.616 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
2237.910 |
1897.107 |
2070.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.813 |
26.934 |
26.688 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2210.097 |
1870.173 |
2043.442 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
207.811 |
182.884 |
139.339 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
2002.286 |
1687.289 |
1904.103 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
647.945 |
537.370 |
598.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
1354.341 |
1149.919 |
1305.366 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3911.928 |
2762.009 |
2218.735 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
131.000 |
|
|
|
Dividend |
0.000 |
0.000 |
544.814 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
86.278 |
|
|
BALANCE CARRIED
TO THE B/S |
5266.269 |
3911.928 |
2762.009 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4548.654 |
4113.227 |
4778.904 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2135.226 |
1923.151 |
2623.785 |
|
|
|
Stores & Spares |
227.978 |
289.030 |
210.035 |
|
|
|
Capital Goods |
66.565 |
159.538 |
227.098 |
|
|
TOTAL IMPORTS |
2429.769 |
2371.719 |
3060.918 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
74.58 |
63.32 |
71.88 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
12.13 |
10.94 |
11.31 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
20.04 |
18.05 |
17.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.62 |
18.08 |
20.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.28 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08 |
1.77 |
1.49 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
181.605 |
181.605 |
181.605 |
|
Reserves & Surplus |
4715.015 |
5864.934 |
7219.276 |
|
Net
worth |
4896.620 |
6046.539 |
7400.881 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
11541.746 |
10511.801 |
11168.235 |
|
|
|
-8.924 |
6.245 |
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 |
11541.746 |
10511.801 |
11168.235 |
|
Profit |
1305.366 |
1149.919 |
1354.341 |
|
|
11.31% |
10.94% |
12.13% |
LOCAL AGENCY FURTHER INFORMATION
LITIGATION DETAILS
|
CASE DETAILS |
|
|
Case Type |
Reg.Civil Suit |
|
Filing No. |
206287/2013 Filing date: 21-10-2013 |
|
Registration No. |
202021/2013 Registration date: 31-10-2013 |
|
Case code |
202702062872013 |
|
|
|
|
CASE STATUS |
|
|
First Hearing Date |
31-10-2013 |
|
Next Hearing Date |
06-04-2015 |
|
Purpose of Hearing |
|
|
Court No & Judge |
56 - 3rd JOINT CJJD JMFC PUNE. |
|
|
|
|
Petitioner(s) & Advocate(s) |
|
|
Petitioner - Esteem Power Equipments India Pvt. Ltd. Address - 1st Floor, Goodwill House, S.B.Road, Above ICICI Bank, Pune
5. Advocate - S. S. Nikam |
|
|
Respondent(s) & Advocate(s) |
|
|
Respondent - Alfa Laval India Ltd. Address - Global Port, Mumbai bangalore Highway, Baner, Pune 45. Advocate - |
|
|
ACTS |
|
|
Under Act(s) |
--- |
|
Under Section(s) |
--- |
|
Subject |
|
|
|
|
|
LOWER COURT INFORMATION |
|
|
Court No & Name |
--- |
|
Case No & Year |
--- |
|
Case Decision Date |
--- |
|
History Of Case Hearing |
||||
|
Regn. No. |
Judge |
Bussiness on
Date |
Hearing Date |
Purpose of
Hearing |
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
31-10-2013 |
30-11-2013 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
30-11-2013 |
27-01-2014 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
27-01-2014 |
10-03-2014 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
10-03-2014 |
21-04-2014 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
21-04-2014 |
11-07-2014 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
11-07-2014 |
19-08-2014 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
19-08-2014 |
04-10-2014 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
04-10-2014 |
19-11-2014 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
19-11-2014 |
03-01-2015 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
03-01-2015 |
10-02-2015 |
|
|
202021/2013 |
3rd JOINT CJJD JMFC PUNE. |
10-02-2015 |
06-04-2015 |
|
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90085669 |
15/03/1993 * |
10,000,000.00 |
BANK OF INDIA |
70/80 M G ROAD, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
* Date of charge modification
CORPORATE INFORMATION
The Company is engaged in the manufacture and sale of industrial equipment and process solutions. The Company sells high speed separators, heat exchangers and flow equipment amongst other products, besides offering process solutions to various industries.
OPERATIONS AND
FINANCIAL RESULTS
The sales revenues of the Company for the year grew by 6% to Rs.11168.230 Millions as compared with the sales turnover of Rs.10511.800 Millions mainly on the back of efficient deliveries. With the other income at Rs.289.380 Millions remaining constant, the total income of the Company for the year was at Rs.11457.610 Millions (2012:Rs.10800.980 Millions). Despite the modest increase in the sales revenues, the overall profitability was better with the profit before tax crossing the two billion rupee mark for the first time.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
(i) Guarantees outstanding |
157.800 |
204.427 |
|
(ii) Claims against the Company not acknowledged as debts * |
223.098 |
320.990 |
|
NOTE: * The claims against the Company comprises of: a. “In respect of Assessment Year 2008-09, the Company had filed an appeal to the Income Tax Appellate Tribunal against the assessment order passed by the Income Tax Department under section 143 (3) read with section 144 (C) (1) of the Income Tax Act, 1961 (‘the Act’), demanding adjustments on account of transfer pricing and other matters under various sections of the Act. The tax amount involved was Rs. 124,937,919.The Company has received on October 9, 2013, a favourable order dated August 30, 2013 from Income Tax Appellate Tribunal, and accordingly, for the current year, the claim has not been disclosed as contingent liability. Further, with regards the Assessment Year 2009-10, the Company has received an order u/s 143(3) read with section 144 (C) (1) of the Income Tax Act, 1961, the original demand of tax on account of transfer pricing adjustments, has been reduced to Rs. 22.074 Millions (excluding interest) (previous year Rs. 22.366 Millions). The Company has filed rectification application for the apparent mistake of Assessing Officer in giving effect to the transfer pricing officer’s recommendations based on Dispute Resolution Panel’s appeal order. b. Rs. 2.360 Millions (excluding interest thereon, if any) (previous year Rs. 2.360 Millions) in respect of claims raised against the Company by the customers which are presently pending with various courts. c. Cases for labour matters amounting to Rs. 4.566 Millions (excluding interest thereon, if any) (previous year Rs. 4.566 Millions) in respect of claims raised against the Company which are pending before the honourable High Courts. d. The Tribunal of Commercial Taxes, Bihar has commenced an action against the Company towards a demand of sales tax of Rs. 11.614 Millions (excluding interest thereon, if any) (previous year Rs. 11.614 Millions) on inter state sales for the period 1992-93 to 1998-99. e. The Commercial Tax officer, Pune had commenced an action against the Company towards a demand of recovery of sales tax of Rs. 182.484 Millions (excluding interest thereon, if any) (net of provisions) (previous year Rs. 155.146 Millions) on various matters for the period 2003-04, 2004-05, 2005-06, 2006-07 and 2008-09. f. Certain temporary workers hired through labour
contractors at Dapodi, Pune plant have been on strike since October 2013.
These temporary workers are demanding absorption into permanent employment in
the Company. Upon a complaint filed by an external Union representing these
temporary workers, the matter was referred to the Industrial Tribunal (IT) by
the Deputy Labour Commissioner. Alongside this reference, the external labour
union has filed an application requesting IT for an interim relief in the
form of granting a status quo order in the matter pending the final disposal
of the reference. Given the fact that the financial impact of the strike, if
any, cannot be quantified as at reporting date but considering the opinion of
the solicitors, the management is confident that no material financial
liability will arise as a result of the strike. |
||
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Office building
· Plant and Equipment
· Factory equipment’s
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Other Equipment’s
v
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.62.18 |
|
|
1 |
Rs.95.70 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
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 |
8 |
|
--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 |
|
72 |
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.