MIRA INFORM REPORT
|
Report No. : |
341089 |
|
Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUMBOLDT WEDAG
INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
Mehtab House
A-36, Mohan Co-operative Estate, Mathura Road, New Delhi – 110044 |
|
Tel. No.: |
91-11-42101100/200
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Country : |
India |
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Financials (as
on) : |
31.12.2014 |
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Date of
Incorporation : |
21.07.1976 |
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Com. Reg. No.: |
11-216812 |
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Capital Investment
/ Paid-up Capital : |
Rs. 19.200 Million |
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CIN No.: [Company Identification
No.] |
U29253DL1976PTC216812 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALH00484B |
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PAN No.: [Permanent Account No.] |
AAACH7474G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of industrial plant
engineering and supply of equipment for cement plants |
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No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1976 having
good a track record. Rating takes into consideration company sound networth position, good
profitability and debt free balance sheet of the company. Promoters are reported to be well experienced and knowledgeable
businessmen. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered normal 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 – 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 BY
|
Name : |
Mr. Ajit Bansal |
|
Designation : |
Senior Account Manager |
|
Contact No.: |
91-11-42101100 |
LOCATIONS
|
Registered Office : |
Mehtab House
A-36, Mohan Co-operative Estate, Mathura Road, New Delhi – 110044, India |
|
Tel. No.: |
91-11-42101100/200
|
|
Fax No.: |
91-11-42101104/105 |
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E-Mail : |
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Website : |
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Factory : |
Plot No.110, Sector 24, Faridabad – 121005, Haryana, India |
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|
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Branch 1 : |
Suite 803, 8th
Floor, Dina House, Ruttonjee Centre, 11, Duddell Street, Central Hong Kong |
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Tel. No.: |
852-25373613 |
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Fax No.: |
852-25373689 |
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E-Mail : |
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|
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Branch 2 : |
36th Floor,
Tower 1, |
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Tel. No.: |
86-21-25373277 |
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Fax No.: |
86-21-63173763 |
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E-Mail : |
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Branch 3 : |
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Tel. No.: |
43-1-240-25-300 |
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Fax No.: |
43-1-240-25-310 |
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E-Mail : |
DIRECTORS
AS ON 16.05.2014
|
Name : |
Bo Christoffer Ribbing |
|
Designation : |
Managing Director |
|
Address : |
The Oberoi, Dr Zakir Marg, Delhi, 110003, , Sweden |
|
Date of Appointment : |
01.12.2014 |
|
DIN No.: |
06870385 |
|
|
|
|
Name : |
Juergen Eduard Luckas |
|
Designation : |
Director |
|
Address : |
Neue Kempener, Str.220, Koln Ot Mauenheim, Koln, 50739, , Germany |
|
Date of Appointment : |
29.06.2015 |
|
DIN No.: |
06983637 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit Bansal |
|
Designation : |
Senior Account Manager |
MAJOR SHAREHOLDERS
AS ON 16.05.2014
|
Names of Shareholders |
|
No. of Shares |
|
KHD Humboldt Wedag GMBH, Germany |
|
1919904 |
|
KHD Humboldt Wedag International AG, Germany |
|
96 |
|
Total |
|
1920000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 16.05.2014
|
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 the business of industrial plant
engineering and supply of equipment for cement plants |
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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 : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
7th Floor, Building, 10,Tower - BDlf, Cyber City Complex, Delhi, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD2095B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
Company : |
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Holding Company : |
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Fellow Subsidiary
company: |
· Humboldt Wedag GMBH, Germany · Humboldt Wedag INC Norcross, United States · KHD Humboldt Wedag Industrial Services AG, Germany · KHD Humboldt Wedag Machinery Equipment (Beijing) Company Limited, China · ZAB Zementanlagenbau GMBH, Germany |
CAPITAL STRUCTURE
AS ON 16.05.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1920000 |
Equity Shares |
Rs.10/- each |
Rs.19.200
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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
19.200 |
19.200 |
19.200 |
|
(b) Reserves &
Surplus |
1714.273 |
1407.647 |
1213.867 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
1733.473 |
1426.847 |
1233.067 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
93.557 |
8.600 |
335.085 |
|
(d) long-term provisions |
5.340 |
2.618 |
36.467 |
|
Total Non-current
Liabilities (3) |
98.897 |
11.218 |
371.552 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
529.911 |
847.577 |
917.634 |
|
(c) Other current
liabilities |
1502.152 |
1317.693 |
824.659 |
|
(d) Short-term provisions |
557.787 |
790.677 |
748.402 |
|
Total Current Liabilities
(4) |
2589.850 |
2955.947 |
2490.695 |
|
|
|
|
|
|
TOTAL |
4422.220 |
4394.012 |
4095.314 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
61.549 |
54.833 |
58.342 |
|
(ii) Intangible Assets |
4.457 |
1.462 |
7.266 |
|
(iii) Capital
work-in-progress |
5.195 |
9.311 |
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) |
86.471 |
112.244 |
102.780 |
|
(d) Long-term Loan and Advances |
189.112 |
149.007 |
194.940 |
|
(e) Other Non-current
assets |
422.817 |
247.647 |
56.964 |
|
Total Non-Current Assets |
769.601 |
574.504 |
420.292 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
106.103 |
171.470 |
165.477 |
|
(c) Trade receivables |
441.766 |
1081.004 |
778.780 |
|
(d) Cash and cash
equivalents |
2673.391 |
1971.511 |
1813.161 |
|
(e) Short-term loans and
advances |
101.192 |
287.656 |
187.099 |
|
(f) Other current assets |
330.167 |
307.867 |
730.505 |
|
Total Current Assets |
3652.619 |
3819.508 |
3675.022 |
|
|
|
|
|
|
TOTAL |
4422.220 |
4394.012 |
4095.314 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.12.2014 |
31.12.2013 |
31.12..2012 |
|
|
SALES |
|
|
|
|
|
Income |
3409.200 |
3302.380 |
2868.490 |
|
|
Other Income |
330.220 |
270.490 |
329.780 |
|
|
TOTAL |
3739.420 |
3572.870 |
3198.270 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
3254.400 |
3260.760 |
3172.290 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
485.020 |
312.110 |
25.980 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.930 |
23.790 |
30.940 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
467.090 |
288.320 |
(4.960) |
|
|
|
|
|
|
|
Less |
TAX |
160.470 |
94.540 |
(0.790) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX |
306.620 |
193.780 |
(4.170) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
159.69 |
100.92 |
(2.17) |
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 flows from (used in) operations |
1018.332 |
281.810 |
530.192 |
KEY
RATIOS
|
PARTICULARS |
|
31.12.2014 |
31.12.2013 |
31.12..2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.99 |
5.87 |
-0.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.79 |
6.75 |
-0.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.20 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.29 |
1.48 |
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 |
19.200 |
19.200 |
19.200 |
|
Reserves & Surplus |
1213.867 |
1407.647 |
1714.273 |
|
Net worth |
1233.067 |
1426.847 |
1733.473 |
|
|
|
|
|
|
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) |
|
Sales |
2868.490 |
3302.380 |
3409.200 |
|
|
|
15.126 |
3.235 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12..2012 |
31.12.2013 |
31.12.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2868.490 |
3302.380 |
3409.200 |
|
Profit |
(4.170) |
193.780 |
306.620 |
|
|
(0.15%) |
5.87% |
8.99% |
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) |
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: Registered office
of the company has been shifted from Commerce House, 8th Floor, Room No. 8C
2A-Ganesh Chandra Avenue Kolkata West Bengal India 700013 to the present address w.e.f. 08.12.2010
CORPORATE
INFORMATION:
Subject (‘the Company’) incorporated on 21 July, 1976 is engaged in the business of industrial plant engineering and supply of equipment for cement plants. The accompanying financial statements reflect the results of the activities undertaken by the Company during the year ended 31 December, 2014.
PERFORMANCE REVIEW:
Fierce competition in the Cement Industry continued throughout 2014, which was characterized by a low level of new orders as well as by continued price pressure. However, the order backlog of 2013 enabled the Company to achieve higher sales in 2014 than in 2013. As a result of higher sales, the Company was able to strengthen its financial position and therefore, it reported a high profit in 2014.
The Company has put a great effort into further expanding the Parts and Services business in order to reduce its dependency on the cyclical project business. The Parts & Services business already contributed to the increase in sales as well as profit in 2014 and is expected to further grow in 2015.
BUSINESS OUTLOOK:
Due to the new Government’s reforms first successes have become apparent. Investments in Cement Industry is expected to grow in coming Years
They expect a high order intake in 2015 as the Company is well positioned with regards to several tenders. However, due to low order backlog at the end of 2014 we expect a drop in the revenues of 2015
Driven by the success in 2014 of increased Parts and Services business, the Company will focus on further expanding its Parts and Services business. The pleasing growth in the Parts and Services business in likely to continue.
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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, India Prisons Service,
Interpol, etc.
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.63.39 |
|
UK Pound |
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.74.90 |
INFORMATION DETAILS
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Information
Gathered by : |
NYA |
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.