MIRA INFORM REPORT

 

 

Report No. :

348851

Report Date :

10.11.2015

 

IDENTIFICATION DETAILS

 

Name :

SCHELL INDIA PRIVATE LIMITED

 

 

Registered Office :

Flat No. 1003, 10th Floor, Mercantile House, 15 Kasturba Gandhi Marg, New Delhi – 110001

Tel. No.:

91-124-4771500

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

14.09.2012

 

 

Com. Reg. No.:

55-242318

 

 

Capital Investment / Paid-up Capital :

Rs. 17.500 Million

 

 

CIN No.:

[Company Identification No.]

U74140DL2012FTC242318

 

 

IEC No.:

Not Applicable (As claimed by company management that company does not export and import)

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacture, development, selling, production, designing, consulting, marketing, distribution, contracting, trading, dealing in with all kinds of products in field of sanitary valves, electronic and manual taps, gas valves and installations, appliances and angle valves for drinking water and bathroom.

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (27)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a wholly owned subsidiary of Schell Gmbh and Company KG, Germany having moderate track. It was incorporated in the year 2012 and it is the manufacturer of gas fittings, central heating fittings, sanitary draw- off fittings etc.

 

As per financial of the year 2014, company has reported accumulated losses from its business operations which has eroded net worth of the company.

 

However, rating takes into consideration company’s strong support from its holding company and experienced management team in the industry.

 

Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

In view of strong holding support, 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 – 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 31-03-2015.

 

 

INFORMATION DENIED

 

Management non co-operative (Tel. No.: 91-11-40556100/45652320

                                                                      91-124-4771500/44-4345000)

 

 

LOCATIONS

 

Registered Office :

Flat No. 1003, 10th Floor, Mercantile House, 15 Kasturba Gandhi Marg, New Delhi – 110001, India

Tel. No.:

91-11-40556100/45652320

91-124-4771500

91-44-43450000

Fax No.:

Not Available

E-Mail :

sharma@wamser-batra.in

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Klaus Elischewski

Designation :

Director

Address :

Am Lenningskamp 20, Schwerte-58239, Schwerte, Na, Germany

Date of Birth/Age :

29.06.1959

Date of Appointment :

14.09.2012

DIN No.:

03628005

 

 

Name :

Dirk Lueckemann

Designation :

Director

Address :

Siepenstrasse 47, Radevormwald-42477, Radevormwald, Na, Germany

Date of Birth/Age :

11.05.1955

Date of Appointment :

14/09/2012

DIN No.:

03622819

 

 

Name :

Gautam Ghosal

Designation :

Director

Address :

Ashirwad Appartment, 74 I. P. Extension, Delhi - 110092, India

Date of Birth/Age :

13.06.1960

Date of Appointment :

14.09.2012

DIN No.:

03177620

 

 

MAJOR SHAREHOLDERS

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

Schell Gmbh and Company KG, Germany

 

1749999

Schell Gmbh, Germany

 

1

 

 

 

Total

 

1750000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

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

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacture, development, selling, production, designing, consulting, marketing, distribution, contracting, trading, dealing in with all kinds of products in field of sanitary valves, electronic and manual taps, gas valves and installations, appliances and angle valves for drinking water and bathroom.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Banker Name

Not Divulged

Branch Address

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

 

Auditors :

 

Name :

V.K. Bajaj and Company

Chartered Accountants

Address :

M-70, Greater Kailash-I, New Delhi – 110048, India

PAN No.:

AAAFV2716J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

--

 

 

CAPITAL STRUCTURE

 

AS ON 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1750000

Equity Shares

Rs.10/- each

Rs. 17.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1750000

Equity Shares

Rs.10/- each

Rs. 17.500 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

 

SOURCES OF FUNDS

 

 

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

17.500

17.500

(b) Reserves & Surplus

 

(26.126)

(4.411)

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

(8.626)

13.089

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

0.000

0.000

(b) Deferred tax liabilities (Net)

 

0.000

0.000

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

4.562

0.000

Total Non-current Liabilities (3)

 

4.562

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

0.000

0.000

(b) Trade payables

 

57.040

3.840

(c) Other current liabilities

 

4.575

3.698

(d) Short-term provisions

 

0.000

0.000

Total Current Liabilities (4)

 

61.615

7.538

 

 

 

 

TOTAL

 

57.551

20.627

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

0.981

0.049

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

0.000

0.000

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

0.685

0.000

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

1.666

0.049

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

29.079

5.751

(c) Trade receivables

 

3.011

0.000

(d) Cash and cash equivalents

 

20.395

14.827

(e) Short-term loans and advances

 

3.400

0.000

(f) Other current assets

 

0.000

0.000

Total Current Assets

 

55.885

20.578

 

 

 

 

TOTAL

 

57.551

20.627

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

 

31.03.2013

 

SALES

 

 

 

 

Income

 

65.850

0.000

 

Other Income

 

0.000

0.197

 

TOTAL                                    

 

65.850

0.197

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL                                    

 

87.242

4.605

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

 

(21.392)

(4.408)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

0.323

0.002

 

 

 

 

 

 

PROFIT BEFORE TAX

 

(21.715)

(4.410)

 

 

 

 

 

Less

TAX                                                                 

 

0.000

0.000

 

 

 

 

 

 

PROFIT AFTER TAX

 

(21.715)

(4.410)

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

(12.41)

(2.52)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

 

31.03.2014

 

31.03.2013

Current Maturities of Long term debt

 

NA

NA

Cash generated from operations

 

NA

NA

Net cash flow from (used in) operation

 

NA

NA

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)
 
(32.98)

0.00

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

(37.73)

(21.38)

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

2.52

(0.34)

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
 

(0.53)

0.00

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

0.91

2.73

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

Share Capital

17.500

17.500

Reserves & Surplus

(4.411)

(26.126)

Share Application money pending allotment

0.000

0.000

Net worth

13.089

(8.626)

 

 

 

long-term borrowings

0.000

0.000

Short term borrowings

0.000

0.000

Current Maturities of Long Term Debt

0.000

0.000

Total borrowings

0.000

0.000

Debt/Equity ratio

0.000

0.000

 

 

 

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

No

8

Designation of contact person

No

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

No

17

Details of sister concerns

No

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

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 two years

Yes

27

Reasons for variation <> 20%

----

28

Estimation for coming financial year

No

29

Profitability for last two 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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

INDEX OF CHARGES: NO CHARGES EXIST FOR THE COMPANY

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records 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 records 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. 66.34

UK Pound

1

Rs. 100.03

Euro

1

Rs. 71.45

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

HNA

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--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

 

27

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.