MIRA INFORM REPORT
|
Report No. : |
329744 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
STAUBLI INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Staubli House, Plot No.55, Near IDBI Bank, MIDC Road No.15/16, Andheri
(East), Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-28235480 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.09.2006 |
|
|
|
|
Com. Reg. No.: |
11-164627 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.38.675 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2006PTC164627 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS55923A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS2713F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of marketing of group textile products,
providing after sales services like erection and trouble-shooting and
coordinating between the group and customers for supply of spares for
replacements. |
|
|
|
|
No. of Employees
: |
29 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behavior : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Staubli AG Pfaffikno, Switzerland” and
well-established company incorporated during the year 2006. It is engaged in
the business of marketing of group textile products, providing after sales services
like erection and trouble-shooting and coordinating between the group and
customers for supply of spares for replacements. It has a satisfactory track
record. For the financial year ended 2014, the company possesses intensive
operational performance and it has achieved good sales volume along with
decent profitability margin. Rating also reflects he well-managed balance sheet profile of the
company having strong net worth position and zero debt balance sheet profile
along with good trade receivables. Trade relations are reported as fair. Business is active. Payments
terms results to be regular and as per commitments. In the view of strong financial base and long business track record,
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
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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. Darshan Kadam |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-28235480 |
|
Date : |
01.07.2015 |
LOCATIONS
|
Registered Office : |
Staubli House, Plot No.55, Near IDBI Bank, MIDC Road No.15/16, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-28239343 / 28235480 / 81 / 82 / 3 |
|
Mobile No.: |
91-22-28235484 |
|
Fax No.: |
91-22-28235484 |
|
E-Mail : |
|
|
Website.: |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Surjit Singh Sarmukh Singh Mahajan |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
601-A, Sarnath Co-operative Housing SDociety, Upper Govind Nagar,
Malad (East), Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
16.12.163. |
|
Date of Appointment : |
15.09.2006 |
|
DIN No.: |
01417607 |
|
|
|
|
Name : |
Mr. Ulrich Fritz Kung |
|
Designation : |
Director |
|
Address : |
Obermatten 21 Rueterswil, Switzerland, 8735 |
|
Date of Birth/Age : |
23.06.1954 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
02139474 |
KEY EXECUTIVES
|
Name : |
Mr. Darshan Kadam |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Staubli Holding AG, Switzerland |
3867499 |
100.00 |
|
Staubli International AG, Switzerland |
1 |
0.00 |
|
Total |
3867500 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies(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 marketing of group textile
products, providing after sales services like erection and trouble-shooting
and coordinating between the group and customers for supply of spares for
replacements. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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|
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Imports : |
Not Available |
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|
|
|
Terms : |
|
|
Selling : |
Cheque |
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|
|
|
Purchasing : |
Cheque |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
29 (Approximately) |
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Bankers : |
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Auditors : |
|
|
Name : |
Batliboi and Purohit Chartered Accountants |
|
Address : |
National Insurance Building, 204, Dadabhoy Navroji Road, Fort, Mumbai
– 400001, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFB0915F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
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|
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Million |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3867500 |
Equity Shares |
Rs.10/- each |
Rs.38.675 Million |
|
|
|
|
|
|
|
|
|
|
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
38.675 |
38.675 |
38.675 |
|
(b) Reserves & Surplus |
243.816 |
240.345 |
237.731 |
|
(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) |
282.491 |
279.020 |
276.406 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.287 |
|
(b) Deferred tax liabilities (Net) |
3.944 |
2.396 |
0.000 |
|
(c) Other long term
liabilities |
2.107 |
2.108 |
0.000 |
|
(d) long-term
provisions |
6.012 |
3.810 |
2.952 |
|
Total Non-current
Liabilities (3) |
12.063 |
8.314 |
3.239 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.757 |
1.044 |
0.698 |
|
(c) Other
current liabilities |
0.475 |
0.614 |
0.543 |
|
(d) Short-term
provisions |
27.499 |
9.314 |
28.208 |
|
Total Current
Liabilities (4) |
28.731 |
10.972 |
29.449 |
|
|
|
|
|
|
TOTAL |
323.285 |
298.306 |
309.094 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
197.485 |
207.980 |
213.416 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
5.991 |
5.609 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.567 |
|
(d) Long-term Loan and Advances |
16.497 |
12.543 |
13.759 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
213.982 |
226.514 |
233.351 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
32.703 |
24.778 |
16.313 |
|
(d) Cash
and cash equivalents |
75.728 |
45.114 |
53.964 |
|
(e)
Short-term loans and advances |
0.650 |
1.084 |
4.308 |
|
(f) Other
current assets |
0.222 |
0.816 |
1.158 |
|
Total
Current Assets |
109.303 |
71.792 |
75.743 |
|
|
|
|
|
|
TOTAL |
323.285 |
298.306 |
309.094 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
81.777 |
62.614 |
68.444 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
22.741 |
24.837 |
20.801 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
59.036 |
37.777 |
47.643 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
12.943 |
13.489 |
11.435 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
46.093 |
24.288 |
36.208 |
|
|
|
|
|
|
|
Less |
TAX |
15.473 |
8.100 |
3.921 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
30.620 |
16.188 |
32.287 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
54.273 |
44.084 |
66.626 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.92 |
4.19 |
8.35 |
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
37.44 |
25.85 |
47.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
72.19 |
60.33 |
69.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.26 |
8.31 |
11.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.09 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.80 |
6.54 |
2.57 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
38.675 |
38.675 |
38.675 |
|
Reserves & Surplus |
237.731 |
240.345 |
243.816 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
276.406 |
279.020 |
282.491 |
|
|
|
|
|
|
long-term borrowings |
0.287 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.287 |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.001 |
0.000 |
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 |
68.444 |
62.614 |
81.777 |
|
|
|
(8.518) |
30.605 |
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 |
68.444 |
62.614 |
81.777 |
|
Profit |
32.287 |
16.188 |
30.620 |
|
|
47.17% |
25.85% |
37.44% |
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) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 three 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 |
NOTE:
Registered office address of the company has been shifted from B-407,
Floral Deck Plaza, Central MIDC Road No.23, Andheri (East), Mumbai – 400093,
Maharashtra, India to the present address w.e.f. 16.01.2012
OPERATION :
The company has performed satisfactory during
the year. In a highly competitive business environment, the company has made of
profit of Rs. 30.620 Million.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Office premises
·
Furniture and Fixture
·
Plant and Machinery
·
Computer
·
Air conditioners and
Refrigerators
·
Office Equipments
·
Motor Car
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.63.39 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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
unfavorable 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.