MIRA INFORM REPORT
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Report No. : |
319604 |
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Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
EBM-PAPST INDIA PRIVATE LIMITED (w.e.f. 31.05.2010) |
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Formerly Known
As : |
EBM-NADI INTERNATIONAL PRIVATE LIMITED (w.e.f. 08.07.1996) SUPERMEK ENGINEERING INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
26/3, G.N.T. Road, Erukkencherry, Chennai –
600118, Tamilnadu |
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Tel. No.: |
91-44-26720103 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.07.1990 |
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Com. Reg. No.: |
18-019420 |
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Capital
Investment / Paid-up Capital : |
Rs. 8.268 Million |
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CIN No.: [Company Identification
No.] |
U29309TN1990PTC019420 |
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IEC No.: |
0493005510 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACE2136L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing, Exporting, Importing and Supplying Fans, Motors and Blowers. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2115000 |
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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 an established company having satisfactory track record. Profitability of the company has declined during 2014. However, general financial position of the company seems to be sound
and healthy. 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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/ Corporate Office/ Factory 1 : |
26/3, G.N.T. Road, Erukkencherry, Chennai –
600118, Tamilnadu, India |
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Tel. No. : |
91-44-26720103/ 26720104 |
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Fax No. : |
91-44-25371149 |
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E-Mail : |
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Website : |
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Factory 2 : |
Survey No. 725/1, 200 Feet Inner Ring Road,
Ponnianmanmedu, Madhavaram, |
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Tel. No. : |
91-44-25532400 |
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Fax No. : |
91-44-25532307 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Atul Tripathi |
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Designation : |
Managing Director |
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Address : |
A-182, Indira Nagar, Lucknow - 226016, Uttar Pradesh,
India |
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Date of Birth/Age : |
11.10.1966 |
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Date of Appointment : |
11.04.2010 |
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PAN No.: |
ABGPT0572R |
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DIN No. : |
02323352 |
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Other Directorship :
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Name : |
Mr. Thomas Walter Alois Borst |
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Designation : |
Director |
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Address : |
Choentaler Berg 14, Niedersteten, 97996, Germany |
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Date of Birth/Age : |
22.07.1956 |
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Date of Appointment : |
27.09.2007 |
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DIN No. : |
03025502 |
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Name : |
Mr. Thomas Siegfried Wagner |
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Designation : |
Director |
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Address : |
Unterlimpurger Strasse 38/1, Schwaebisch Hall, 74523, ,
Germany |
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Date of Birth/Age : |
04.09.1959 |
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Date of Appointment : |
26.12.1995 |
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DIN No. : |
03025524 |
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KEY EXECUTIVES
|
Name : |
Mr. Nagarajan Karthik |
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Designation : |
Manager |
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Address : |
No.32, Venkatratnam Nagar,, Adyar, Chennai - 600020,
Tamilnadu, India |
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Date of Birth/Age : |
21.10.1968 |
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Date of Appointment : |
19.06.2013 |
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PAN No.: |
AAPPK2576C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
EBM Beteiligungs Gmbh, Germany |
98377 |
99.99 |
|
EBM Papst Mulfingen Gmbh Co. KG., Germany |
10 |
0.01 |
|
Total |
98387 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings (Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Exporting, Importing and Supplying Fans, Motors and Blowers. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
·
Axis Bank Limited, F33, II Avenue, Anna Nagar East,
Chennai - 600102, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kumbhat and Company Chartered Accountants |
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Address : |
144, N.S.C. Bose Road, Chennai – 600079, Tamilnadu, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFK5509L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
EBM-Beteiligungs GmbH, Germany |
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Associates : |
· EBM-papst Mulfingen GmbH and Co · EBM-papst St.Georgen GmbH and Co. KG · EBM-papst Electrics Shanghai · EBM-papst Landshut · EBM-papst Motor · EBM-papst Sarl · EBM-papst INC · EBM-Papst Hong Kong Limited · EBM-Papast Ventilator Shanghai · EBM-Papst A & N Z Pty Limited · EBM-Papst Korea Co., Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
98,387 |
Equity Shares |
Rs.100/- each |
Rs. 9.839 Million |
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As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
300,000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
82,675 |
Equity Shares |
Rs.100/- each |
Rs. 8.268 Million |
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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 |
8.268 |
8.268 |
8.268 |
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(b) Reserves & Surplus |
480.688 |
474.286 |
416.132 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
251.400 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
740.356 |
482.554 |
424.400 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
232.400 |
330.165 |
381.338 |
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(b) Deferred tax liabilities (Net) |
61.289 |
57.678 |
29.698 |
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(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) |
293.689 |
387.843 |
411.036 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
154.893 |
62.506 |
92.238 |
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(b) Trade
payables |
569.495 |
785.740 |
710.043 |
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(c) Other
current liabilities |
46.407 |
52.501 |
52.527 |
|
(d) Short-term
provisions |
5.342 |
20.634 |
6.240 |
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Total Current
Liabilities (4) |
776.137 |
921.381 |
861.048 |
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TOTAL |
1810.182 |
1791.778 |
1696.484 |
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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 |
657.037 |
711.117 |
741.037 |
|
(ii)
Intangible Assets |
0.696 |
0.890 |
1.093 |
|
(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 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
39.826 |
35.165 |
13.029 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
697.559 |
747.172 |
755.159 |
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(2) Current assets |
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|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
496.027 |
449.086 |
490.822 |
|
(c) Trade
receivables |
483.446 |
492.032 |
330.629 |
|
(d) Cash
and cash equivalents |
36.061 |
20.410 |
19.788 |
|
(e)
Short-term loans and advances |
95.623 |
79.747 |
95.777 |
|
(f) Other
current assets |
1.466 |
3.331 |
4.309 |
|
Total
Current Assets |
1112.623 |
1044.606 |
941.325 |
|
|
|
|
|
|
TOTAL |
1810.182 |
1791.778 |
1696.484 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
SALES |
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|
|
|
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Sales and Service Income |
1455.300 |
1281.200 |
1203.200 |
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|
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Non-Operating Income |
0.700 |
2.900 |
1.500 |
|
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TOTAL |
1456.000 |
1284.100 |
1204.700 |
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Less |
EXPENSES |
1409.900 |
1157.200 |
1155.500 |
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
46.100 |
126.900 |
49.200 |
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
36.100 |
40.800 |
41.900 |
|
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|
PROFIT/
(LOSS) BEFORE TAX |
10.000 |
86.100 |
7.300 |
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|
Less |
TAX |
3.600 |
28.000 |
2.600 |
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|
PROFIT/
(LOSS) AFTER TAX |
6.400 |
58.100 |
4.700 |
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|
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|
EARNINGS IN
FOREIGN CURRENCY |
878.100 |
81.400 |
NA |
|
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|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
77.41 |
702.75 |
56.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.44 |
4.53 |
0.39 |
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.55 |
4.81 |
0.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.18 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.52 |
0.81 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.13 |
1.09 |
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 |
8.268 |
8.268 |
8.268 |
|
Reserves & Surplus |
416.132 |
474.286 |
480.688 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
251.400 |
|
Net
worth |
424.400 |
482.554 |
740.356 |
|
|
|
|
|
|
Long-term Borrowings |
381.338 |
330.165 |
232.400 |
|
Short-term Borrowings |
92.238 |
62.506 |
154.893 |
|
Total
borrowings |
473.576 |
392.671 |
387.293 |
|
Debt/Equity
ratio |
1.116 |
0.814 |
0.523 |
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 |
1203.200 |
1281.200 |
1455.300 |
|
|
|
6.483 |
13.589 |
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 |
1203.200 |
1281.200 |
1455.300 |
|
Profit |
4.700 |
58.100 |
6.400 |
|
|
0.39% |
4.53% |
0.44% |
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 |
Yes |
|
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90284438 |
16/09/1994 |
228,900.00 |
SUNDARAM FINANCE LTD. |
NO. 21; PATULLOS ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
- |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Foreign currency term loans from others |
232.400 |
198.016 |
|
Total |
232.400 |
198.016 |
OPERATIONS
The Company has increased its turnover by 13.59% in comparison to the previous year. The company’s profit before tax for the current year is Rs.10.000 Million (after providing for depreciation of Rs.36.100 Million) as compared to profit of Rs.86.100 Million in the previous year. The board is confident of better results in the ensuing period.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Other Equipments
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. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
43 |
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.