MIRA INFORM REPORT
|
Report No. : |
311160 |
|
Report Date : |
11.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
LMT (INDIA) PRIVATE LIMITED (w.e.f. 28.01.2010) |
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|
|
|
Formerly Known
As : |
LMT FETTE (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
New No.29, (Old No.14), II Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu |
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Country : |
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|
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|
Financials (as
on) : |
31.12.2013 |
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|
|
|
Date of
Incorporation : |
10.10.2002 |
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|
|
|
Com. Reg. No.: |
18-049716 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.33.494 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U29299TN2002PTC049716 |
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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.] |
CHEL03076D |
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|
|
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PAN No.: [Permanent Account No.] |
AAACL8169N |
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|
|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading and Manufacturing of Precision Tools. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 439000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of continuous losses incurred by
the company from its two years of operation. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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
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.
LOCATIONS
|
Registered Office : |
New No.29, (Old No.14), II Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India |
|
Tel. No.: |
91-44-24405136 / 42337701 – 703 |
|
Fax No.: |
Not Avaia |
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E-Mail : |
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Website : |
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Corporate Office : |
Old No. 48/2, New No. 62, III Main Road, Gandhi Nagar, Adyar, Chennai –
600020, Tamilnadu, India |
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|
Factory : |
Plot No. 44/1, Phase No. 1, MIDC Chakan, Village Nighoje, Taluka Khed, Pune - 410501, Maharashtra, India |
DIRECTORS
As on 25.06.2014
|
Name : |
Mr. Venkatasubramanian Sivaramakrishnan |
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Designation : |
Managing Director |
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|
Address : |
B-203, Manasarovar, 19, III Seaward Road, Valmikinagar, Thiruvanmiyur,
Chennai - 600041, Tamilnadu, India |
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Date of Appointment : |
10.10.2002 |
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DIN No.: |
01256384 |
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Other Directorship:
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Name : |
Olaf Johannes Muller |
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|
Designation : |
Director |
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|
Address : |
Husarenhof 9 B, Hamburg, 22043, Germany |
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Date of Appointment : |
27.09.2010 |
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DIN No.: |
02890426 |
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Other Directorship:
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Name : |
Rommel Matthias |
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Designation : |
Director |
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Address : |
Dublingen, Nelkenstrabe 5, Germany, 72144, Germany |
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Date of Appointment : |
24.02.2012 |
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DIN No.: |
05228382 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Mahadev Ramchandra Joshi |
|
Designation : |
Secretary |
|
Address : |
F-102, Irene Towers, Aloma County, Behind Medipoint Hospital, Baner,
Pune - 411045, Maharashtra, India |
|
Date of Appointment : |
01.12.2013 |
|
PAN No.: |
AAPPJ3833R |
MAJOR SHAREHOLDERS
As on 25.06.2014
|
Names of Shareholders |
|
No. of Shares |
|
LMT Werkzeugtechnik Gmbh and Co. KG, Germany |
|
334928 |
|
Venkatasubramanian S |
|
1 |
|
Total |
|
334929 |
Equity Share Break up (Percentage of Total Equity)
As on 25.06.2014
|
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 |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20311160%2011-Mar-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Trading and Manufacturing of Precision Tools. |
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Products : |
Precision Tools |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Auditors : |
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|
Name : |
K.S.Aiyar and Company Chartered Accountants |
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Address : |
54/2 Paulwells Road, St Thomas Mount, Chennai – 600016, Tamilnadu,
India |
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Tel. No.: |
91-44-22330206 |
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Fax No.: |
91-44-22330207 |
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E-Mail : |
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PAN No.: |
ABBPN9404E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company |
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Subsidiary
Company : |
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Group Company of Holding Company : |
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Alliance Company of Holding Company : |
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CAPITAL STRUCTURE
As on 25.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.100/- each |
Rs.80.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
334938 |
Equity Shares |
Rs.100/- each |
Rs.33.494 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
33.494 |
24.368 |
24.368 |
|
(b) Reserves & Surplus |
120.038 |
157.377 |
164.057 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
61.608 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
153.532 |
243.353 |
188.425 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
230.106 |
0.000 |
0.135 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.744 |
1.744 |
0.844 |
|
(d) long-term
provisions |
5.012 |
4.754 |
0.000 |
|
Total Non-current
Liabilities (3) |
236.862 |
6.498 |
0.979 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
456.002 |
277.232 |
162.978 |
|
(c) Other
current liabilities |
8.879 |
4.479 |
4.829 |
|
(d) Short-term
provisions |
10.369 |
6.730 |
6.631 |
|
Total Current
Liabilities (4) |
475.250 |
288.441 |
174.438 |
|
|
|
|
|
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TOTAL |
865.644 |
538.292 |
363.842 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
409.150 |
74.036 |
41.866 |
|
(ii)
Intangible Assets |
27.041 |
0.931 |
1.513 |
|
(iii)
Capital work-in-progress |
0.000 |
3.694 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
6.527 |
0.000 |
|
(b) Non-current Investments |
0.099 |
0.099 |
0.099 |
|
(c) Deferred tax assets (net) |
41.865 |
0.162 |
0.000 |
|
(d) Long-term Loan and Advances |
0.256 |
0.423 |
0.185 |
|
(e) Other
Non-current assets |
6.016 |
3.552 |
3.566 |
|
Total Non-Current
Assets |
484.427 |
89.424 |
47.229 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
104.329 |
87.470 |
93.485 |
|
(c) Trade
receivables |
124.338 |
112.953 |
90.510 |
|
(d) Cash
and cash equivalents |
86.750 |
169.195 |
45.361 |
|
(e)
Short-term loans and advances |
3.035 |
44.954 |
67.482 |
|
(f) Other
current assets |
62.765 |
34.296 |
19.775 |
|
Total
Current Assets |
381.217 |
448.868 |
316.613 |
|
|
|
|
|
|
TOTAL |
865.644 |
538.292 |
363.842 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
407.207 |
387.405 |
402.829 (Gross Sales) |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
|
EXPENSES |
NA |
NA |
NA |
||
|
|
|
|
|
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||
|
|
PROFIT BEFORE EXTRAORDINARY ITEM AND TAX |
(131.524) |
9.800 |
33.724 |
||
|
|
|
|
|
|
||
|
Less |
EXTRAORDINARY ITEM- PRIOR PERIOD EXPENSES |
0.000 |
12.726 |
0.000 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
(131.524) |
(2.926) |
33.723 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
(41.703) |
3.754 |
11.369 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
(89.821) |
(6.680) |
22.354 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
103.100 |
109.780 |
87.426 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
13.279 |
103.100 |
109.780 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Marketing Services |
1.365 |
3.404 |
4.564 |
|
|
|
|
Exports |
83.628 |
0.654 |
0.000 |
|
|
|
TOTAL EARNINGS |
84.993 |
4.058 |
4.564 |
||
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||
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IMPORTS |
|
|
|
||
|
|
|
Import of cutting tools |
294.078 |
183.420 |
209.484 |
|
|
|
TOTAL IMPORTS |
294.078 |
183.420 |
209.484 |
||
|
|
|
|
|
|
||
|
|
Earnings / (Loss)
Per Share (Rs.) |
(268.17) |
NA |
NA |
||
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(22.06) |
(1.72) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(15.97) |
(0.55) |
9.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.86) |
(0.01) |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.50 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
1.56 |
1.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Share Capital |
24.368 |
24.368 |
33.494 |
|
Reserves & Surplus |
164.057 |
157.377 |
120.038 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
61.608 |
0.000 |
|
Net
worth |
188.425 |
243.353 |
153.532 |
|
|
|
|
|
|
Long Term borrowings |
0.135 |
0.000 |
230.106 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.135 |
0.000 |
230.106 |
|
Debt/Equity
ratio |
0.001 |
0.000 |
1.499 |
%20PRIVATE%20LIMITED%20-%20311160%2011-Mar-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.12.2012 |
31.12.2013 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales |
|
387.405 |
407.207 |
|
|
|
|
5.111 |
%20PRIVATE%20LIMITED%20-%20311160%2011-Mar-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.12.2012 |
31.12.2013 |
|
|
|
Rs.
In Million |
Rs.
In Million |
|
Sales
|
|
387.405 |
407.207 |
|
Profit |
|
(6.680) |
(89.821) |
|
|
|
(1.72%) |
(22.06%) |
%20PRIVATE%20LIMITED%20-%20311160%2011-Mar-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
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 |
---------- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.12.2013 Rs. In Million |
31.12.2012 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loan From Holding Company – ECB Loan) |
230.106 |
0.000 |
|
Total |
230.106 |
0.000 |
Notes:
During the year the company Borrowed Euro 2700000) from its Holding Company LMT Werkzeugtechnik Gmbh, Germany interest rate will be not less than 3.758% Payable half yearly (6 Months EURO LIBOR + 350 Basis Points. The amount borrowed will be repaid in 8 equal installments started from 31st fan 2015
NO CHARGES EXIST FOR
COMPANY
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.62.70 |
|
|
1 |
Rs.94.55 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.