|
|
|
MIRA INFORM REPORT
|
Report No. : |
505589 |
|
Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
FESTO INDIA PRIVATE LIMITED (w.e.f 01.12.2015) |
|
|
|
|
Formerly Known
As : |
FESTO
CONTROLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.237B, Bommasandra Industrial Area, Anekal Taluk, Bangalore – 560099, Karnataka |
|
Tel. No.: |
91-80-22894100 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
03.02.1986 |
|
|
|
|
Com. Reg. No.: |
08-007449 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 27.504 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220KA1986PTC007449 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF2940F |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
29AAACF2940F1ZU |
|
|
|
|
TIN No.: |
29930058622 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the design, development and manufacture of pneumatic products. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1986. It is a subsidiary of Festo AG, Germany. The company is a manufacturer of cylinders, valves and accessories, etc. As per the financial of 2017, the company has achieved 8.31% growth in its revenue as compared to the previous year’s revenue and has gained a fair profitability margin of 8.63%. Rating takes into consideration the sound financial position of the company backed by strong net worth base along with zero debt balance sheet profile and satisfactory liquidity position. Rating takes into consideration the company’s favourable Earnings Per Share (EPS) of INR 163.61 as against its Face Value (FV) of INR 10. Rating also takes into consideration the company’s long established track record and the strong financial and managerial support that the company receives from its holding company. Business is active. Payment seems to be regular. In view of healthy financial position of the company, it can be considered for business dealings at usual trade terms and condition. |
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 25.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
Management non-cooperative (Tel No.:91-80-71894117)
Tel No.:91-80-22894100 / 22894372 (Continuously ringing)
LOCATIONS
|
Registered Office/Head Office : |
No.237B, Bommasandra Industrial Area, Anekal Taluk, Bangalore – 560099, Karnataka, India |
|
Tel. No.: |
91-80-22894100 |
|
Fax No.: |
91-80-27832058 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Rashmikant Joshi |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Festo Plot, Gold Coin City, Audapura
Village Attibele, Hobli, Anekal Taulk Bangalore - 560100, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.08.1963 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2002 |
||||||||||||||||||||||||||||||||||||||||||||
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PAN No.: |
AANPJ6389A |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00014341 |
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Piyushkumar Shahc |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Festo Plot, Gold Coin City, Audapura
Village Attibele, Hobli, Anekal Taluk Bangalore-560100, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
25.07.1963 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.04.2002 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABWPS2915B |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00014361 |
||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ashok Koipurathu Kizhakathil |
||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.76, Block A, Apt 003, Sharada Nivas,
15th Cross Indiranagar, II Stage Bangalore- 560038, Karnataka,
India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.03.1968 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.05.2014 |
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PAN No.: |
AKSPK0051F |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02072393 |
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Other Directorship:
|
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|
|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sudarsan Varadaraj |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
227/1, Tea Estates Race Course Coimbatore-
641018, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.01.1958 |
||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.04.2000 |
||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AGVPS9449J |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00133533 |
||||||||||||||||||||||||||||||||||||||||||||
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Christian Leonhard |
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|
Designation : |
Director |
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|
Address : |
Saalburgstr.72 Friedrichsdorf 61381 De |
||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
06.09.1957 |
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Date of Appointment : |
29.09.2015 |
||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
07182229 |
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|
||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sebastian Mathias Beckc |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Im Zehen 9, Esslingen, Baden Wuerttemberg
073732 De |
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|
Date of Appointment : |
22.09.2017 |
||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07798878 |
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MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Festo AG, Germany |
2750394 |
|
Festo Holdinng GmbH, Germany |
1 |
|
Total |
2750395 |
Equity Share Break up (Percentage of Total Equity)
As on 22.09.2017
|
Category |
Percentage |
|
Promoters (Others– Foreign Companies) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the design, development and manufacture of pneumatic products. (Registered Activity) |
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Products / Services
: |
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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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||||||||||
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Imports : |
Not Divulged |
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|
||||||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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|
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Bankers : |
|
||||||||||||||||||||||
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|
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Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Deloitte centre, Anchorage II 100/2, Richmond Road, Bangalore - 560025, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD3771D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding company: |
Festo AG |
|
|
|
|
Fellow Subsidiary Company: |
|
CAPITAL STRUCTURE
As on 22.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
INR 10/- each |
INR 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2750395 |
Equity Shares |
INR 10/- each |
INR 27.504 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
27.504 |
27.504 |
27.504 |
|
(b) Reserves and Surplus |
3622.745 |
3172.744 |
2714.679 |
|
(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) |
3650.249 |
3200.248 |
2742.183 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
6.801 |
14.502 |
21.298 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.275 |
|
(d) long-term
provisions |
52.305 |
35.361 |
24.584 |
|
Total Non-current
Liabilities (3) |
59.106 |
49.863 |
46.157 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
495.282 |
676.039 |
738.844 |
|
(c) Other
current liabilities |
152.349 |
140.080 |
103.488 |
|
(d) Short-term
provisions |
7.598 |
8.434 |
14.777 |
|
Total Current
Liabilities (4) |
655.229 |
824.553 |
857.109 |
|
|
|
|
|
|
TOTAL |
4364.584 |
4074.664 |
3645.449 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1142.741 |
1041.072 |
859.823 |
|
(ii)
Intangible Assets |
0.000 |
0.251 |
2.759 |
|
(iii) Tangible assets
capital work-in-progress |
15.489 |
81.096 |
26.449 |
|
(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 loans and advances |
132.303 |
57.682 |
62.278 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1290.533 |
1180.101 |
951.309 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1084.318 |
1169.687 |
1231.071 |
|
(c) Trade
receivables |
940.853 |
961.596 |
737.700 |
|
(d) Cash and
bank balances |
835.186 |
583.932 |
509.348 |
|
(e)
Short-term loans and advances |
205.981 |
177.007 |
212.600 |
|
(f) Other
current assets |
7.713 |
2.341 |
3.421 |
|
Total
Current Assets |
3074.051 |
2894.563 |
2694.140 |
|
|
|
|
|
|
TOTAL |
4364.584 |
4074.664 |
3645.449 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
5215.024 |
4814.849 |
4268.738 |
|
|
Other Income |
130.786 |
48.514 |
232.869 |
|
|
TOTAL |
5345.810 |
4863.363 |
4501.607 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2041.109 |
1915.891 |
1967.199 |
|
|
Purchases of
Stock-in-Trade |
1347.589 |
1139.089 |
1127.530 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(70.295) |
(4.630) |
(31.660) |
|
|
Employee benefit expense |
535.675 |
469.476 |
428.394 |
|
|
CSR expenditure |
0.000 |
0.000 |
9.950 |
|
|
Other expenses |
715.415 |
553.946 |
577.006 |
|
|
TOTAL |
4569.493 |
4073.772 |
4078.419 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
776.317 |
789.591 |
423.188 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.575 |
1.197 |
0.153 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
775.742 |
788.394 |
423.035 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
91.675 |
82.246 |
35.502 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
684.067 |
706.148 |
387.533 |
|
|
|
|
|
|
|
Less |
TAX |
234.066 |
248.083 |
136.356 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
450.001 |
458.065 |
251.177 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
677.110 |
604.709 |
397.968 |
|
|
TOTAL EARNINGS |
677.110 |
604.709 |
397.968 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2785.125 |
2699.590 |
2293.764 |
|
|
Components and spare
parts |
0.000 |
0.000 |
1127.530 |
|
|
Capital Goods |
14.243 |
70.204 |
133.622 |
|
|
TOTAL IMPORTS |
2799.368 |
2769.795 |
3554.915 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
163.61 |
166.55 |
91.32 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Net cash flows from (used in) operations |
662.947 |
660.361 |
125.959 |
|
Net cash flows from (used in) operating activities |
351.450 |
350.066 |
(30.629) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
65.85 |
72.90 |
63.08 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
5.54 |
5.01 |
5.79 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors / Purchases
* 365] |
|
53.35 |
80.77 |
87.14 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.72 |
0.68 |
0.34 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.67 |
0.70 |
0.48 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.15 |
0.20 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.18 |
0.26 |
0.31 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.32 |
0.35 |
0.32 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
1350.12 |
659.64 |
2765.93 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
8.63 |
9.51 |
5.88 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
10.31 |
11.24 |
6.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
12.33 |
14.31 |
9.16 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
4.69 |
3.51 |
3.14 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
3.04 |
2.09 |
1.71 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.84 |
0.79 |
0.75 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
4.69 |
3.51 |
3.14 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
27.504 |
27.504 |
27.504 |
|
Reserves & Surplus |
2714.679 |
3172.744 |
3622.745 |
|
Net
worth |
2742.183 |
3200.248 |
3650.249 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of Long term debt |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4268.738 |
4814.849 |
5215.024 |
|
|
|
12.793 |
8.311 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
4268.738 |
4814.849 |
5215.024 |
|
Profit/ (Loss) |
251.177 |
458.065 |
450.001 |
|
|
5.88
% |
9.51
% |
8.63
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
21] |
Banking facility details |
No |
|
22] |
Conduct of the banking account |
-- |
|
23] |
Financials, if provided |
Yes |
|
24] |
Capital in the business |
Yes |
|
25] |
Last accounts filed at ROC, if applicable |
Yes |
|
26] |
Turnover of firm for last 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 |
BACKGROUND:
The company was incorporated in 1986 and is engaged in the design, development and manufacture of pneumatic products. Festo enjoys the status of being the largest manufacturer of pneumatics products in India.
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
C71964670 |
10590920 |
The Hongkong and Shanghai Banking Corporation Limited |
26/08/2015 |
30/11/2015 |
- |
45000000.0 |
NO.7, MAHATMA GANDHI ROAD BANGALORE 560001 KARNATAKA INDIA |
|
2 |
Y10295329 |
90193430 |
THE VYSYA BANK Limited |
27/01/1989 |
- |
14/10/2005 |
300000.0 |
KEMPE GOWDA ROAD BANGALORE-560009 KARNATAKA INDIA |
|
3 |
Y10291967 |
90190068 |
THE VYSYA BANK LTD |
04/07/1986 |
- |
14/10/2005 |
1000000.0 |
KEMPE GOWDA ROAD BANGALORE-560009 KARNATAKA INDIA |
|
4 |
Y10292794 |
90190895 |
THE VYSYA BANK Limited |
06/02/1992 |
24/12/1992 |
14/10/2005 |
6000000.0 |
KEMPE GOWDA ROAD FKCCI BUILDING BANGALORE-560009 KARNATAKA INDIA |
|
5 |
Y10295178 |
90193279 |
THE VYSYA BANK Limited |
27/02/1987 |
- |
20/08/1993 |
2200000.0 |
KEMPE GOWDA ROAD BANGALORE-560009 KARNATAKA INDIA |
FIXED ASSETS
- Land
- Building
- Furniture and Fixture
- Factory building
- Motor vehicles
- Computer
- Plant and Machinery
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 92.77 |
|
Euro |
1 |
INR 80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
AKY |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.