MIRA INFORM REPORT
|
Report No. : |
342952 |
|
Report Date : |
30.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SULZER PUMPS INDIA LIMITED |
|
|
|
|
Registered
Office : |
9, MIDC, Thane
Belapur Road, Digha, Navi Mumbai – 400708, Maharashtra |
|
Tel No.: |
91-22-39130525 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.06.1974 |
|
|
|
|
Com. Reg. No.: |
11-017561 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.000
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1974PLC017561 |
|
|
|
|
IEC No.: |
0388089288 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS36628E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK2238F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer. Exporter and Importer of centrifugal pumps,
spare parts and related accessories. |
|
|
|
|
No. of Employees
: |
550 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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|
Comments : |
Subject is a subsidiary of 'Sulzer Pumps Limited', Switzerland. It is engaged In manufacturing, exporting and importing of pumps. For the financial year ended 2014, company has registered a growth of 23.81 in it revenue profile, whereas profit of the company has declined by 51.15% as compared to previous year profit. However, company has maintained above average profitability margins at 3.48% during FY 2014. Rating takes into consideration company's healthy financial base marked by adequate net worth base along zero debt balance profile and favorable liquidity position of the company. Company also receives strong financial and managerial support from its holding company. Trade relations are reported as fair. Payments are reported to be regular and as per commitment. In view of aforesaid, the company can be considered good for normal 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 PARTED BY
|
Name : |
Mr. Sanjay Seth |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-39130525 |
|
Date : |
29.09.2015 |
LOCATIONS
|
Registered/ Head Office/ Factory : |
9, MIDC, Thane
Belapur Road, Digha, Navi Mumbai – 400708, Maharashtra, India |
|
Tel. No.: |
91-22-39130500/ 39130525/ 39130564 |
|
Fax No.: |
91-22-27606812/ 27796811/ 27606814 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Sales Office : |
Elgin Chambers, Room No 401, 4th Floor, 1A Ashutosh Mukherjee Road,
Kolkata – 700020, Maharashtra, India |
|
Tel. No.: |
91-3-24856007 |
|
|
|
|
Sales Offices : |
Also Located at · Chennai · Vadodara · Delhi · Hyderabad |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Bharat Hirachand Dagha |
|
Designation : |
Managing director |
|
Address : |
C/11, Sarvonatti Society, Kama Lane, Ghatkopar (West), Mumbai -
400086, Maharashtra, India |
|
Date of Birth/Age : |
24.11.1957 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
06766065 |
|
|
|
|
Name : |
Mr. Pooran Gokaldas Tahilramaney |
|
Designation : |
Director |
|
Address : |
301, White House Apartment, N. Gamadia Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
14.04.1928 |
|
Date of Appointment : |
07.10.1986 |
|
DIN No.: |
00107873 |
|
|
|
|
Name : |
Mr. Ashwin Trimbak Bondal |
|
Designation : |
Director |
|
Address : |
1121,Royal Pavilion, Hua Shan Road,, Shanghai, 200030, China |
|
Date of Birth/Age : |
14.03.1951 |
|
Date of Appointment : |
30.06.2009 |
|
DIN No.: |
00401941 |
|
|
|
|
Name : |
Heena Doshi |
|
Designation : |
Director |
|
Address : |
302 Mahavir Sadan, Balaram Street Grant Road, Mumbai - 400007, Maharashtra, India |
|
Date of Appointment : |
20.03.2015 |
|
DIN No.: |
00364793 |
|
|
|
|
Name : |
Mrs.Tania Micki |
|
Designation : |
Director |
|
Address : |
Herrenguetlistrasse, 26, Wallisellen, 8304, Switzerland |
|
Date of Birth/Age : |
11.11.1971 |
|
Date of Appointment : |
13.02.2014 |
|
DIN No.: |
06812822 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Seth |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Anil Pooran |
100 |
|
Chetan Jayantilal Shah |
2000 |
|
Chetan Jayantilal Shah |
1000 |
|
Heena Doshi |
100 |
|
N.R. Hariharan |
100 |
|
Javerbai Shivji Vikamsey |
1000 |
|
Jayantilal Premji Shah |
2000 |
|
Jayashri Suresh Dikshit |
100 |
|
Nitin Mahadev Kane |
100 |
|
Anand S. Kothekar |
100 |
|
Mayur V. Shah |
100 |
|
Neemjee Gangji Shah |
2500 |
|
Pramod Kumar Singhal |
250 |
|
Pratapsey Ratansi Mercant |
500 |
|
Rajan Raghunath Raje |
100 |
|
Sadhana Hiren Dand |
500 |
|
Shashank Chandrakant Patil |
500 |
|
Sulzer Pumps Limited, Switzerland |
2488250 |
|
Theresa Joseph Aranjo |
100 |
|
Tahilramaney Pooran |
600 |
|
Total |
2500000 |
Equity Share Break up (Percentage of Total Equity)
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 |
99.53 |
|
Other |
0.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer. Exporter and Importer of centrifugal pumps,
spare parts and related accessories. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Centrifugal pumps |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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||||
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
550 (Approximately) |
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Bankers : |
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1St Floor, Apollo Mills CompoundN M Joshi Marg, Mahalakshmi, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB7357B |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
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|
Ultimate Holding
Company: |
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|
|
|
Holding Company: |
|
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|
Parties under
common control *: |
Note: * The list of related parties above has been limited to entities with whom transactions have taken place during the period. |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs. 10/- each |
Rs.25.000
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 |
25.000 |
25.000 |
25.000 |
|
(b) Reserves & Surplus |
2336.155 |
2176.988 |
1767.289 |
|
(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) |
2361.155 |
2201.988 |
1792.289 |
|
|
|
|
|
|
(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 |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
95.031 |
85.226 |
0.000 |
|
Total
Non-current Liabilities (3) |
95.031 |
85.226 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
45.877 |
|
(b) Trade payables |
739.108 |
646.313 |
1046.272 |
|
(c) Other current liabilities |
604.747 |
602.002 |
290.864 |
|
(d) Short-term provisions |
170.983 |
127.340 |
245.820 |
|
Total
Current Liabilities (4) |
1514.838 |
1375.655 |
1628.833 |
|
|
|
|
|
|
TOTAL |
3971.024 |
3662.869 |
3421.122 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
278.226 |
288.719 |
258.841 |
|
(ii) Intangible Assets |
5.120 |
35.199 |
34.811 |
|
(iii) Capital work-in-progress |
0.000 |
1.172 |
7.034 |
|
(iv) Intangible assets under
development |
0.000 |
18.894 |
35.129 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
119.244 |
137.900 |
93.578 |
|
(d) Long-term Loan and Advances |
328.028 |
250.247 |
216.699 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
730.618 |
732.131 |
646.092 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
216.869 |
704.475 |
641.783 |
|
(c) Trade receivables |
1072.024 |
1157.190 |
1715.033 |
|
(d) Cash and cash equivalents |
1339.145 |
555.765 |
26.640 |
|
(e) Short-term loans and
advances |
223.502 |
512.481 |
391.574 |
|
(f) Other current assets |
388.866 |
0.827 |
0.000 |
|
Total
Current Assets |
3240.406 |
2930.738 |
2775.030 |
|
|
|
|
|
|
TOTAL |
3971.024 |
3662.869 |
3421.122 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4587.204 |
3861.782 |
3776.495 |
|
|
Other Income |
382.931 |
152.532 |
26.351 |
|
|
TOTAL
(A) |
4970.135 |
4014.314 |
3802.846 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2641.500 |
2147.141 |
2130.423 |
|
|
Purchases of Stock-in-Trade |
88.102 |
118.493 |
103.011 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
420.066 |
(157.776) |
(308.463) |
|
|
Employees benefits expense |
561.511 |
524.547 |
506.327 |
|
|
Other expenses |
858.654 |
791.048 |
734.801 |
|
|
TOTAL
(B) |
4569.833 |
3423.453 |
3166.099 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
400.302 |
590.861 |
636.747 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.008 |
2.107 |
2.839 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
400.294 |
588.754 |
633.908 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
96.812 |
64.538 |
71.326 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
303.482 |
524.216 |
562.582 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
143.818 |
144.020 |
199.459 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
159.664 |
380.196 |
363.123 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2646.402 |
1391.158 |
NA |
|
|
Service Charges |
32.470 |
227.243 |
NA |
|
|
TOTAL EARNINGS |
2678.872 |
1618.401 |
NA |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
1546.835 |
885.077 |
|
|
|
Trading Purchases |
88.102 |
118.493 |
|
|
|
Others |
0.309 |
1.146 |
|
|
|
TOTAL
IMPORTS |
1635.246 |
1004.716 |
621.172 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
64.00 |
164.00 |
145.25 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
5000.000 |
The above information has been parted by Mr. Sanjay Seth
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
744.302 |
807.686 |
(18.098) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.48 |
9.85 |
9.62 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.73 |
15.30 |
16.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.88 |
14.96 |
17.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.24 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14 |
2.13 |
1.70 |
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 |
25.000 |
25.000 |
25.000 |
|
Reserves & Surplus |
1767.289 |
2176.988 |
2336.155 |
|
Net
worth |
1792.289 |
2201.988 |
2361.155 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
45.877 |
0.000 |
0.000 |
|
Total
borrowings |
45.877 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.026 |
0.000 |
0.000 |
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 |
3776.495 |
3861.782 |
4587.204 |
|
|
|
2.258 |
18.785 |
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 |
3776.495 |
3861.782 |
4587.204 |
|
Profit |
363.123 |
380.196 |
159.664 |
|
|
9.62% |
9.85% |
3.48% |
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 |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 four 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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
CASE DETAILS
BENCH:- BOMBAY
|
Presentation Date:- |
01/07/2014 |
|||||||
|
Lodging No.:- |
CPL/455/2014 |
Filing Date:- |
01/07/2014 |
Reg. No.:- |
CP/463/2015 |
Reg. Date:- |
24/04/2015 |
|
|
|
Petitioner:- |
|
||
|
|
Petn.Adv.:- |
|
||
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
|||
|
Status:- |
Pre-Admission |
Category:- |
COMPANY PETITION U/SEC 433,434,439
COMPANIES ACT |
|
Next Date:- |
01/12/2015 |
Stage:- |
FOR ADMISSION [ORIGINAL SIDE MATTERS] |
|
Coram:- |
PROVISIONAL BOARD |
|
Last Date:- |
15/06/2015 |
Stage:- |
FOR ADMISSION [ORIGINAL SIDE MATTERS] |
|
Last Coram:- |
HON'BLE SHRI JUSTICE S.C. GUPTE |
|
Act :- |
Companies Act & Rules 1956 |
Under Section:- |
433 , 434 439 |
PERFORMANCE REVIEW
The period witnessed an excellent order intake resulting in an all time high of Rs. 5399.000 Million compared to Rs. 3579.000 Million in previous year (April 2012 to March 2013). On the domestic front the company continues to make significant inroads in Power segment. The year was very challenging for the company. The substantial growth in the Total revenue by 23.81% from Rs. 4014.310 Million to Rs. 4970.140 Million is mainly because of the determination of the revenues under the percentage of completion method adopted by the company in the year. Despite this, mainly due to difficult economic conditions coupled with fierce competition, high inflationary market conditions resulted in higher input cost, severe pressure on margins, resulted in low operating margins for the year. Members are aware that business environment continues to be volatile due to global slowdown, uncertain environment and high fiscal deficit and inflation. This is impacting the fresh long-term investments and/or delaying execution of existing projects, which might effect the future margins. The transfer of technology continues based on market demand and further new models particularly to meet the requirements of Power and Oil and Gas (Down stream) are being introduced. The Company has implemented Environmental Management System (EMS) and Occupational Health and Safety Management System (OHSMS) and is committed towards the betterment of Environment and Society at large. The occupational health and safety of its employees, visitors and contractors and compliance with the regulatory requirements are given prime importance. As part of the continual improvement programmes, regular trainings are provided to the employees. Annual surveillance audits are conducted by the third party Certification agency to assess the conformance levels. Current Trends The Indian market still remains sluggish for the Capital good sector till now this year, though the mood has significantly changed with the new Central government. There are several projects in the pipeline which needs to be cleared before they could see the market picking up for the new business.
FUTURE OUTLOOK
Though future long term potential and outlook for the Indian Market is quiet optimistic, the new government has still to announce its policy directions (on critical areas like gas pricing, environment clearance etc.,) to create positive environment which will trigger new big project investments both in Public an Private sectors. Based on current backlog and year to date sales the company expects to achieve moderate sales growth of 7% in FY 2014-15. Operational excellence through Lean, growth in after sales business (Spare Parts, Repairs and Service) and people development along with further improvements in health, safety and sustainability will continue to remain a focus. The company will continue to improve operational efficiency and cost competitiveness in all its activities and also prepare itself to gear up for the growth opportunities that the Indian market may provide with upswing in the market conditions. The Company continues to focus strongly on improving environment, health and safety.
COMPANY PROFILE
Subject was incorporated in India on June 19, 1974. The Company is mainly engaged in the manufacturing and sale of single and multistage centrifugal pumps, spare parts and related accessories. The Company's registered office and manufacturing location are situated at Digha, Navi Mumbai.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90186711 |
08/03/2002 * |
15,000,000.00 |
CENTRAL BANK OF INDIA |
NARIMAN POINT
BRANCH; CHANDER MUKHI, GROUND FLOOR |
- |
|
2 |
90186460 |
15/10/1999 * |
97,500,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI |
52/60; MAHATMA
GANDHI ROAD, FORT, MUMBAI, MAHARAS |
- |
|
3 |
90186309 |
02/02/1996 |
485,000.00 |
NEW INDIA CO.OP. ABNK LIMITED |
P' D'MELLO ROAD
BRANCH, 221-225; P. D'MELLO ROAD; |
- |
|
4 |
90184028 |
14/11/1995 |
96,500,000.00 |
THE CENTRAL BANK OF INDIA |
NARIMAN POINT
BRANCH, CHANDERMUKHI BUILDING, MUMB |
- |
|
5 |
90185737 |
10/07/1991 |
466,600.00 |
CENTRAL BANK OF INDIA |
NARIMAN POINT
BRANCH, BOMBAY, MAHARASHTRA - 400021 |
- |
|
6 |
90185673 |
21/01/1991 |
1,215,000.00 |
CENTRAL BANK OF INDIA |
NARIMAN POINT BRANCH,
MUMBAI, MAHARASHTRA - 400021 |
- |
|
7 |
90183933 |
14/11/1995 * |
17,200,000.00 |
INDUSTRAIL CREDIT & INVESTMENTCORPORATION OF
INDIA |
163; BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 40 |
- |
|
8 |
90185564 |
14/11/1995 * |
17,200,000.00 |
INDUSTRAIL DEVELOPMENT BANK OF INDIA |
IDBI TOWERS; CUFFE
PARADE, COLABA, BOMBAY, MAHARA |
- |
|
9 |
90185548 |
11/01/1990 |
15,400,000.00 |
INDUSTRAIL CREDIT & INVESTMENTCORPORATION OF
INDIA |
163; BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 40 |
- |
|
10 |
90185338 |
30/01/1989 * |
1,000,000.00 |
CENTRAL BANK OF INDIA |
NARIMAN POINT
BRANCH; CHANDER MUKHI, GROUND FLOOR |
- |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Know-how
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.66.18 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.74.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.