MIRA INFORM REPORT
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Report No. : |
309920 |
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Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
STULZ - CHSPL (INDIA) PRIVATE LIMITED |
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Formerly Known
As : |
COMFORT HVAC SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
6, Jagruti Industrial Estate, Mogul Lane,
Mahim, Mumbai - 400016, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.04.1996 |
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Com. Reg. No.: |
11-098823 |
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Capital
Investment / Paid-up Capital : |
Rs.50.000 Million |
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CIN No.: [Company Identification
No.] |
U29192MH1996PTC098823 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
MUMCO7443C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Precision Air Conditioning and Humidification Equipment’s. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “STULZ GMBH, Germany”. It is an established company having satisfactory track record. The company has reported good profitability for the year 2013-14. It
operates on its owned funds. Financial position of the company seems to be good. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company can be considered 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.
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 31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-22-66669055)
LOCATIONS
|
Registered Office : |
6, Jagruti Industrial Estate, Mogul Lane, Mahim, Mumbai - 400016,
Maharashtra, India |
|
Tel. No.: |
91-22-66669055 / 66669056 / 66669057 / 24379173 / 24328221 / 24379611 |
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Fax No.: |
91-22-66669448 |
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E-Mail : |
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Website : |
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Factory : |
Located At:
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Branch Offices : |
Located At:
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DIRECTORS
As on 20.06.2014
|
Name : |
Mr. Suresh Balakrishnan |
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Designation : |
Managing Director |
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Address : |
3rd Floor, Mira Co-Op. Society, Mogul Lane, Mahim, Mumbai -
400016, Maharashtra, India |
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Date of Birth/Age : |
08.04.1974 |
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Date of Appointment : |
11.04.1996 |
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PAN No.: |
AERPB3173R |
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DIN No.: |
00373276 |
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Name : |
Mr. Rajesh Balakrishnan |
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Designation : |
Managing Director |
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Address : |
3rd Floor, Mira Co-Op. Society, Mogul Lane, Mahim, Mumbai -
400016, Maharashtra, India |
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Date of Birth/Age : |
02.10.1971 |
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Date of Appointment : |
11.04.1996 |
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PAN No.: |
AAAKB1234R |
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DIN No.: |
00384821 |
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Name : |
Mr. Juergen Stulz |
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Designation : |
Director |
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Address : |
Erlenweg, 4, Germany, Wedel, 22880, Germany |
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Date of Birth/Age : |
29.01.1947 |
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Date of Appointment : |
08.06.2006 |
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DIN No.: |
00494364 |
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Name : |
Kurt Juergen Ploetner |
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Designation : |
Nominee Director |
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Address : |
Rudolf-Kinau-Strasse 5, Buchholz, 21244, Germany |
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Date of Birth/Age : |
01.03.1945 |
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Date of Appointment : |
08.06.2006 |
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DIN No.: |
00494447 |
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Name : |
Mr. Alexander Tobias Stulz |
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Designation : |
Director |
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Address : |
Grasweg 44, 22299, Hamburg, 0, Germany |
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Date of Birth/Age : |
01.06.1969 |
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Date of Appointment : |
23.01.2008 |
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DIN No.: |
02190045 |
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Name : |
Mrs. Sunita Balakrishnan |
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Designation : |
Director |
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Address : |
Belmonte Tower Condominium Flat No 011, Mogal, Lane, Telephone Colony,
Near Bafna Apts, Mahim, Mumbai - 400016, Maharashtra, India |
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Date of Birth/Age : |
18.02.1944 |
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Date of Appointment : |
04.06.2010 |
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PAN No.: |
AAACB1234T |
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DIN No.: |
03117504 |
MAJOR SHAREHOLDERS
As on 20.06.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Suresh Balakrishnan |
2450000 |
49.00 |
|
STULZ GmbH, Germany |
2550000 |
51.00 |
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Total |
5000000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20309920_MIRA%2027-Feb-2015_files/image011.gif)
Equity Share Break up (Percentage of Total Equity)
As on 20.06.2014
|
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 |
51.00 |
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Directors or relatives of Directors |
49.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Precision Air Conditioning and Humidification Equipment’s. |
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Products : |
Precision Air Conditioning and Humidification Equipment’s |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
Union Bank of India, Matunga (West) Branch, Navroji Mansion, 177, T.H. Kataria Marg, Matunga (West),, Mumbai - 400016, Maharashtra, India |
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Facilities : |
-- |
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Auditors : |
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Name : |
Ashok Pandit and Company Chartered Accountants |
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Address : |
A - 302, Chitrakoot, Kashinath Dhuru Marg, Agar Bazar, Dadar West, Mumbai – 400028, Maharashtra, India |
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PAN No.: |
AABPP0628C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
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Associate : |
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CAPITAL STRUCTURE
As on 20.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 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 |
|
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|
(1)Shareholders' Funds |
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(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
697.758 |
662.682 |
543.141 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
747.758 |
712.682 |
593.141 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
9.803 |
8.071 |
4.643 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities
(3) |
9.803 |
8.071 |
4.643 |
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(4)
Current Liabilities |
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|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
104.554 |
87.486 |
112.660 |
|
(c) Other
current liabilities |
47.165 |
60.373 |
50.382 |
|
(d) Short-term
provisions |
42.756 |
36.482 |
32.382 |
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Total Current
Liabilities (4) |
194.475 |
184.341 |
195.424 |
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TOTAL |
952.036 |
905.094 |
793.208 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
317.740 |
314.701 |
183.732 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
40.521 |
40.795 |
69.288 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
0.030 |
0.030 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.355 |
1.433 |
1.303 |
|
(e) Other
Non-current assets |
37.093 |
47.759 |
28.836 |
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Total Non-Current
Assets |
396.734 |
404.718 |
283.189 |
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(2)
Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
100.977 |
99.363 |
77.220 |
|
(c) Trade
receivables |
240.614 |
192.156 |
187.785 |
|
(d) Cash
and cash equivalents |
209.462 |
201.488 |
241.435 |
|
(e)
Short-term loans and advances |
1.448 |
4.278 |
0.857 |
|
(f) Other
current assets |
2.801 |
3.091 |
2.722 |
|
Total
Current Assets |
555.302 |
500.376 |
510.019 |
|
|
|
|
|
|
TOTAL |
952.036 |
905.094 |
793.208 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
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Other Income |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
NA |
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TAX |
NA |
NA |
NA |
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PROFIT/(LOSS)
AFTER TAX |
116.972 |
119.541 |
118.738 |
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EARNINGS IN
FOREIGN CURRENCY |
23.284 |
13.190 |
23.601 |
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|
Earnings /
(Loss) Per Share (Rs.) |
23.94 |
NA |
NA |
|
%20PRIVATE%20LIMITED%20-%20309920_MIRA%2027-Feb-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20309920_MIRA%2027-Feb-2015_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
15.62 |
NA |
NA |
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.86 |
2.71 |
2.61 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
543.141 |
662.682 |
697.758 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
593.141 |
712.682 |
747.758 |
|
|
|
|
|
|
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 |
%20PRIVATE%20LIMITED%20-%20309920_MIRA%2027-Feb-2015_files/image013.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBT DETAILS 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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
one year |
Yes |
|
12] |
Profitability for last three
years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
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 |
No |
OPERATIONS
The Financial Year 2013-14 was a challenging year. The global economy witnessed a lower economic growth. Despite various constraints and the challenging environment, the company performed reasonably well.
The Company made sales of Rs.748.800 Million during the year and the profit after tax is Rs.116.972 Million. The Directors hope to do better in the current year.
OUTLOOK
The present business scenario for close control air-conditioning is positive and we expect growth of ____% in comparison to this year, further the telecom sector which has been having no capex since past ____ years now looks to be opening and ready for expansion which is good for their business and will contribute to further growth of the company.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10228857 |
31/10/2014 * |
40,000,000.00 |
Union Bank of India |
177, Nowroji Mansion, T. H. Kataria Marg, Matunga (West), Mumbai, Maharashtra - 400016, India |
C32359937 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
52 |
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.