MIRA INFORM REPORT
|
Report No. : |
351564 |
|
Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
OETIKER INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5, St. Martin Road, Off Turner Road, Bandra (West), Mumbai – 400050,
Maharashtra |
|
Tel. No.: |
91-22-26405282 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.01.2006 |
|
|
|
|
Com. Reg. No.: |
11-159347 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.829.235 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH2006PTC159347 |
|
|
|
|
IEC No.: |
0306057891 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO04094G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO8083G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in manufacturing clamps. In addition, the company trades in clamps, clamping tools and couplings. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is subsidiary of Inter Clamp holding AG, Switzerland. It has
moderate track. The company has incurred losses from its operations and accumulation
of the same has partially erodes the networth position of the in company the
year 2014. However, it has good liquidity position during FY 2014. However, trade relations are fair. Business is active. Payment terms
are slow but correct. In view of continuous losses, 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.
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 BY
|
Name : |
Mr. Apurva Dangi |
|
Designation : |
Additional Director |
|
Contact No.: |
91-9702009769 |
|
Date : |
25.11.2015 |
LOCATIONS
|
Registered Office : |
5, St. Martin Road, Off Turner Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Tel. No.: |
91-22-26405282 |
|
Mobile No.: |
91-9702009769 (Mr. Apurva Dangi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Administrative
Office / Factory: |
N – 14, Additional Patalganga Industrial Area, Village Chavane, Taluka
Panvel, Raigad – 410 220, |
|
Tel. No.: |
91-2192-250107-12 |
|
Fax No.: |
91-2192-250105 |
|
Area : |
12 Acres |
|
Location : |
Leased |
|
|
|
|
Sales Office 1: |
Flat No.1006, |
|
Tel. No.: |
91-11-43588571 / 72 |
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Fax No.: |
91-11-43588573 |
|
|
|
|
Sales Office 2 : |
Unit No. 707, 7th Floor, DLF City Court, M. G. Marg, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4514350/53 |
|
Fax No.: |
91-124-4514333 |
|
|
|
|
Business World Centre : |
Room No.5, |
DIRECTORS
AS ON: 30.09.2014
|
Name : |
Mr. Varughese Jacob |
|
Designation : |
Director |
|
Address : |
B-601, Swastik
Enclave, Azad Nagar P.O, Sandozbaug,
Thane (West), Maharashtra, India |
|
Date of Birth/Age : |
20.02.1954 |
|
Date of Appointment : |
11.07.2007 |
|
Date of Cessation : |
26.03.2014 |
|
DIN No.: |
00119316 |
|
|
|
|
Name : |
Mrs. Ashwani G. Keswani |
|
Designation : |
Additional Director |
|
Address : |
The Shelter, 3rd
Floor, |
|
Date of Birth/Age : |
20.01.1962 |
|
Qualification : |
BE, MS and MBA |
|
Experience : |
28 Years |
|
Date of Appointment : |
02.01.2008 |
|
DIN No.: |
02023107 |
|
|
|
|
Name : |
Mr. Thomas Stefan Meier Bickel |
|
Designation : |
Additional Director |
|
Address : |
Sonntagsteig 4, Zurich , Switzerland |
|
Date of Birth/Age : |
09.01.1975 |
|
Date of Appointment : |
12.08.2013 |
|
DIN No.: |
06656285 |
|
|
|
|
Name : |
Mr. Apurva Dangi |
|
Designation : |
Additional director |
|
Address : |
G-6/1:2 1st Floor, Sharayu CHS, Sector -29, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
Date of Appointment : |
11.02.2015 |
|
DIN No.: |
07082947 |
KEY EXECUTIVES
|
Name : |
Mr. Dhawni Bharat Chandan |
|
Designation : |
Secretary |
|
Address : |
701, TulsaNiwas, Ganesh Gawde Road, Mulund (West), Mumbai - 400080, Maharashtra, India |
|
Date of Appointment : |
19.06.2015 |
|
PAN No.: |
AODPC3126Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Marco Lorez |
|
1 |
|
Inter Clamp Holding AG, Switzerland
|
|
829234 |
|
Total |
|
829235 |
AS ON: 30.09.2014
|
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 : |
Subject is engaged in manufacturing clamps. In addition, the company trades in clamps, clamping tools and couplings. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
S R B C and Company LLP Chartered Accountants |
|
Address : |
12th, 14th, 15th and 16th Floor, The Ruby, Senapati Bapat Marg, Dadar (West), Mumbai - 400028, Maharashtra, India |
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PAN No.: |
ACHFS9117R |
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|
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Memberships : |
-- |
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|
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Collaborators : |
-- |
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Holding Company : |
Inter Clamp Holding AG, Switzerland
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Associate Companies
: |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs.1000/- each |
Rs.900.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
829235 |
Equity Shares |
Rs.1000/- each |
Rs.829.235 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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
829.235 |
775.089 |
609.283 |
|
(b) Reserves & Surplus |
(491.735) |
(434.969) |
(361.342) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
58.493 |
|
Total
Shareholders’ Funds (1) + (2) |
337.500 |
340.120 |
306.434 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
370.370 |
279.867 |
329.677 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
3.220 |
|
Total Non-current
Liabilities (3) |
370.370 |
279.867 |
332.897 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
88.237 |
44.359 |
33.204 |
|
(c) Other
current liabilities |
100.766 |
90.264 |
87.805 |
|
(d) Short-term
provisions |
1.571 |
1.084 |
0.967 |
|
Total Current
Liabilities (4) |
190.574 |
135.707 |
121.976 |
|
|
|
|
|
|
TOTAL |
898.444 |
755.694 |
761.307 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
457.739 |
442.258 |
347.184 |
|
(ii)
Intangible Assets |
0.937 |
1.562 |
2.604 |
|
(iii)
Capital work-in-progress |
40.983 |
0.000 |
0.332 |
|
(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 |
3.391 |
2.429 |
35.635 |
|
(e) Other Non-current
assets |
1.971 |
2.071 |
41.225 |
|
Total Non-Current
Assets |
505.021 |
448.320 |
426.980 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
125.212 |
89.665 |
103.601 |
|
(c) Trade
receivables |
158.847 |
111.630 |
65.043 |
|
(d) Cash
and cash equivalents |
59.758 |
54.337 |
117.712 |
|
(e)
Short-term loans and advances |
48.891 |
50.577 |
46.152 |
|
(f) Other
current assets |
0.715 |
1.165 |
1.819 |
|
Total
Current Assets |
393.423 |
307.374 |
334.327 |
|
|
|
|
|
|
TOTAL |
898.444 |
755.694 |
761.307 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Sales of material and goods (net of excise duty) |
396.000 |
229.000 |
181.000 |
|
|
|
|
Miscellaneous income |
3.000 |
7.000 |
7.000 |
|
|
|
|
Interest Received |
0.000 |
3.000 |
3.000 |
|
|
|
|
TOTAL |
399.000 |
235.000 |
191.000 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
NA |
NA |
NA |
||
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|
|
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||
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
||
|
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|
||
|
Less |
TAX |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
FOR THE PERIOD |
(57.000) |
(74.000) |
(95.000) |
||
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
48.271 |
48.271 |
17.491 |
|
|
|
TOTAL EARNINGS |
48.271 |
48.271 |
17.491 |
||
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|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
(68.74) |
(100.60) |
NA |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
33.670 |
64.585 |
7.014 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
5.108 |
(22.027) |
(95.536) |
|
Net cash flow from operating activities |
4.578 |
(22.027) |
(95.536) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
(14.39) |
(32.31) |
(52.49) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.20 |
1.01 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06 |
2.26 |
2.74 |
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 |
609.283 |
775.089 |
829.235 |
|
Reserves & Surplus |
(361.342) |
(434.969) |
(491.735) |
|
Share Application money
pending allotment |
58.493 |
0.000 |
0.000 |
|
Net worth |
306.434 |
340.120 |
337.500 |
|
|
|
|
|
|
long-term borrowings |
329.677 |
279.867 |
370.370 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long-Term Debts |
7.014 |
64.585 |
33.670 |
|
Total
borrowings |
336.691 |
344.452 |
404.040 |
|
Debt/Equity
ratio |
1.099 |
1.013 |
1.197 |
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 |
181.000 |
229.000 |
396.000 |
|
|
|
26.519 |
72.926 |
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 |
181.000 |
229.000 |
396.000 |
|
Profit/Loss |
(95.000) |
(74.000) |
(57.000) |
|
|
(52.49%) |
(32.31%) |
(14.39%) |
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 |
Yes |
|
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 |
No |
|
17 |
Details of sister concerns |
Yes |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE :
The registered office of the company has been shifted from
N-14, ADDL Patalganga Industrial Area, Village Chavane, Taluka Panvel, Raigad –
410220, Maharashtra, India to the present address w.e.f. 01.02.2010.
CORPORATE INFORMATION
Subject is a Private Limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. It’s a wholly owned subsidiary of Inter Clamp Holding AG, Switzerland.
The company manufactures clamps. In addition, the company trades in clamps, clamping tools and couplings. Sales are made to both domestic and international customers.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long term
borrowing |
|
|
|
Other external commercial borrowings |
370.370 |
279.867 |
|
|
|
|
|
Total |
370.370 |
279.867 |
NOTE: NO CHARGES EXIST FOR THE COMPNAY
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Office Equipment
·
Computer
·
Vehicle
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 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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
30 |
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.