MIRA
INFORM REPORT
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Report No. : |
347369 |
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Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
FETTE COMPACTING MACHINERY INDIA PRIVATE LIMITED |
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Registered
Office : |
A-40/1, Chakan Industrial Area, MIDC Phase-1, Village: Nighoje,
Yaluka: Khed, Pune, |
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Tel. No.: |
91-2135-614900 |
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Country : |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
02.03.2015 |
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Com. Reg. No.: |
11-154150 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U29297PN2010PTC154150 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEF02115B |
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PAN No.: [Permanent Account No.] |
AABCF4914C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader, Importer and Supplier of Pharmaceutical
Machinery and its Parts. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 692000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of LMT ( For the FY 2014, the company has achieved decent sales turnover marked
by satisfactory profit margin. There is decline in profit margin as compared
to previous year. However, the company possesses sound net worth base marked by low
borrowings and good liquidity position. Trade relations are fair. Business is active. Payments are slow but
correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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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) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Shahikant More |
|
Designation : |
Senior Executive Finance |
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Contact No.: |
91-2135-614900 |
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Date : |
30.10.2015 |
LOCATIONS
|
Registered Office/ Factory : |
A-40/1, Chakan Industrial Area, MIDC Phase-1, Village: Nighoje,
Yaluka: Khed, Pune, |
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Tel. No.: |
91-2135-614900 |
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Fax No.: |
Not available |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Locality: |
Industrial |
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Sales Office : |
401-402, 4th Floor, B Wing, Dynasty Business Park, Andheri Kurla Road, Andheri (East), Mumbai - 400059, Maharashtra, India |
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Tel. No.: |
91-22-42163300 |
DIRECTORS
AS ON 25.06.2014
|
Name : |
Mr. Olaf Johannes Muller |
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Designation : |
Director |
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Address : |
Husarenhof 9B, |
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Date of Appointment : |
16.06.2011 |
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DIN No.: |
02890426 |
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Other Directorship :
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Name : |
Mr. Sandeep Sood |
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Designation : |
Managing director |
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Address : |
B-2/416, Varun Apartments, Sector-9, Rohini, |
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Date of Birth : |
52 Years |
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Qualification : |
Graduate in Economics and Law, MBA (Marketing and Finance) |
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Experience : |
29 Years |
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Date of Appointment : |
03.12.2014 |
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DIN No.: |
03231502 |
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Other Directorship :
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Name : |
Mr. Mahadev Joshi Ramchandra |
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Designation : |
Whole-Time Director |
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Address : |
Flat No - 1, 2nd Floor, Sapna Greens,, Opposite
A.V.Dacosta Hospital, Fatorda, Margao - 403602, |
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Date of Appointment : |
29.07.2015 |
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DIN No.: |
03619539 |
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Other Directorship :
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Name : |
Mr. Rommel Matthias |
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Designation : |
Director |
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Address : |
Dublingen, Nelkenstrabe 5, |
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Date of Appointment : |
23.12.2012 |
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DIN No.: |
05228382 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Shahikant More |
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Designation : |
Senior Executive Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.06.2014
|
Names of Shareholders |
No. of Shares |
|
LMT ( |
980 |
|
Venkatasubramanian Sivaramakrishnan |
10 |
|
Olaf Johannes Muller |
10 |
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|
|
|
Total |
1000 |
AS ON 25.06.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
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Bodies
corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Importer and Supplier of Pharmaceutical Machinery
and its Parts. |
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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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Products : |
Machinery |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
40 (Approximately) |
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Bankers : |
· Corporation Bank Limited Chakan, Pune, |
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Auditors : |
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Name : |
K. S. Aiyar and Company Chartered Accountants |
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Address : |
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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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Income-tax
PAN of auditor or auditor's firm : |
AABPN9404E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company : |
LMT India Private Limited, |
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Group Company of holding company : |
·
Fette ( Fette Compacting GMBH, LMT GMBH and Co. KG, LMT Shared Services GMBH Co KG |
CAPITAL STRUCTURE
AS ON 31.12.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
5,000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1,000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.100 |
0.100 |
0.100 |
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(b) Reserves & Surplus |
241.971 |
192.868 |
111.136 |
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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 |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
242.071 |
192.968 |
111.236 |
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(3) Non-Current
Liabilities |
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(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
0.098 |
0.000 |
0.057 |
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(c) Other long
term liabilities |
1.824 |
1.824 |
0.912 |
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(d) long-term
provisions |
1.844 |
1.826 |
0.000 |
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Total Non-current
Liabilities (3) |
3.766 |
3.650 |
0.969 |
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(4) Current Liabilities |
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(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b)
Trade payables |
40.877 |
56.398 |
39.982 |
|
(c)
Other current liabilities |
1.688 |
3.145 |
0.844 |
|
(d) Short-term
provisions |
17.586 |
31.819 |
17.494 |
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Total Current
Liabilities (4) |
60.151 |
91.362 |
58.320 |
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|
|
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TOTAL |
305.988 |
287.980 |
170.525 |
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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 |
47.910 |
14.190 |
9.435 |
|
(ii)
Intangible Assets |
7.035 |
0.319 |
0.124 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
8.005 |
0.201 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.435 |
0.000 |
|
(d) Long-term Loan and Advances |
2.806 |
2.759 |
1.032 |
|
(e) Other
Non-current assets |
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|
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|
Total Non-Current
Assets |
57.751 |
25.708 |
10.792 |
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
63.448 |
96.373 |
68.121 |
|
(c)
Trade receivables |
54.162 |
102.277 |
54.899 |
|
(d) Cash
and cash equivalents |
120.640 |
57.418 |
29.898 |
|
(e)
Short-term loans and advances |
1.245 |
0.830 |
1.107 |
|
(f)
Other current assets |
8.742 |
5.374 |
5.708 |
|
Total
Current Assets |
248.237 |
262.272 |
159.733 |
|
|
|
|
|
|
TOTAL |
305.988 |
287.980 |
170.525 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
SALES |
|
|
|
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Revenue |
315.155 |
268.843 |
145.795 |
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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|
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|
Less |
EXPENSES |
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|
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TOTAL |
NA |
NA |
NA |
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PROFIT/
(LOSS) BEFORE TAX |
73.973 |
121.310 |
59.695 |
|
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|
Less |
TAX |
24.868 |
39.579 |
19.465 |
|
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|
PROFIT/
(LOSS) AFTER TAX |
49.105 |
81.731 |
40.230 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
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|
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|
Marketing Service |
108.780 |
138.471 |
102.906 |
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IMPORTS |
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|
|
|
|
|
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Import of Tablet Press Machine and Spares Capital Goods |
73.390 |
87.826 |
57.022 |
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|
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|
Earnings Per
Share (Rs.) |
49105.00 |
81731.00 |
40230.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.18 |
43.40 |
35.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.63 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.13 |
2.87 |
2.74 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
111.136 |
192.868 |
241.971 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
111.236 |
192.968 |
242.071 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue |
145.795 |
268.843 |
315.155 |
|
|
|
84.398 |
17.226 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue |
145.795 |
268.843 |
315.155 |
|
Profit |
40.230 |
81.731 |
49.105 |
|
|
27.59% |
30.40% |
15.58% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
COMPANY OVERVIEW
The company was incorporated on 02.03.2010. The company
deals is tablet press machines and spares.
BUSINESS OUTLOOK
The company has maintained its market share for its products during the year. The outlook for the next year looks good and the company is confident of improved performance.
FIXED ASSETS:
Tangible Assets
Plant
and Machinery
Factory
Equipment
Office
Equipment
Furniture
and Fixtures
Computer
and Peripherals
Intangible Assets
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 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.65.22 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.71.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
45 |
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.