|
|
|
MIRA INFORM REPORT
|
Report No. : |
490441 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
LAPP INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
98, J and K Jigani Industrial Estate, Phase II, Jigani, Anekal Taluk, Bangalore
– 560105, Karnataka |
|
Tel. No.: |
91-80-30560216 / 186 / 209 / 000 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.09.2016 |
|
|
|
|
Date of
Incorporation : |
15.05.1996 |
|
|
|
|
Com. Reg. No.: |
08-020467 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
INR 292.564 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999KA1996PTC020467 |
|
|
|
|
IEC No.: |
0796011303 |
|
|
|
|
GSTIN/UIN : |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL3002G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of manufacturing and trading of cables, accessories, related products and systems. [Registered activity and also confirmed by management] |
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|
|
|
No. of Employees
: |
500 (Approximately) |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Lapp Holding Asia Pte. Limited, Singapore and is a part of the Lapp group of companies. It is engaged in manufacturing and trading of cables, accessories, related products and systems. The company was incorporated in the year 1996 and is based in Bangalore, Karnataka. It is an established company having good track record. Management of the company has not filed its financial with the government department for the year 2017. As per available financials of September 2016, the company has witnessed a healthy growth in its revenue and reported fair profit margin at 1.65% (approximately). Available financials indicate sound financial profile marked by healthy networth base along with low debt level and favourable gap between trade payables to its trade receivables. The company also derives strength from its holding entity and its experienced management team. Fundamentals of the company are strong and heathy. Trade relations are reported as fair. Business is active. Payments terms are seems to be regular and as per commitments. In view of the aforesaid, the company can be considered 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
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 |
ICRA |
|
Rating |
Long Term Rating= A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
03.10.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating= A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
03.10.2017 |
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
31-03-2016.
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 08.02.2018
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 PARTED BY
|
Name : |
Mr. Nitin |
|
Designation : |
Production Department |
|
Contact No.: |
91-7375308114 |
LOCATIONS
|
Registered Office / Factory 1 : |
98, J and K Jigani Industrial Estate, Phase II, Jigani, Anekal Taluk,
Bangalore – 560105, Karnataka, India |
|
Tel. No.: |
91-80-30560216 / 186 / 209 / 91-8110-304800 |
|
Mobile No.: |
91-7375308114 (Mr. Nitin) |
|
Fax No.: |
91-80-30560101 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Corporate Office : |
# 1/3, 9th Cross, 9th “A” Main Road, Jayanagar
II Block, Bangalore – 560011, Karnataka, India |
|
|
|
|
Regional Office 1 : |
Plot Number 8, Indialand Global Industrial Park, Taluka – Mulsi, Phase
I, Hinjawadi, Pune – 411057, Maharashtra, India |
|
|
|
|
Regional Offices : |
Also Located At: ·
Haryana ·
Kolkata ·
Chennai |
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Factory 2 : |
Plot No. 16, 17, 18 and 19 Pilukhedi Industrial Area Narsinghgarh, Tehsil: Rajgarh – 465667, Madhya Pradesh, India |
|
|
|
|
Warehouse 1 : |
B 5 and B 7, NH3, Dire Anjur Village, Bhiwandi, Thane – 400001,
Maharashtra, India |
|
|
|
|
Warehouse 2 : |
No.15, Dharuhera Industrial Area, Rewari – 123106, Haryana, India |
|
|
|
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Warehouse 3 : |
Plot No.98, N Jigani Industrial Area, 2nd Phase, Bangalore – 562016, Karnataka, India |
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|
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Warehouse 4 : |
B5 and B7, NH3 Dive, Anjur Village, Bhiwandi, Thane – 400001, Maharashtra, India |
|
|
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Warehouse 5 : |
A-11 and A-12, SIPCOT Industrial Park, Irungattukottai, Sriperumbadur – 602105, Tamilnadu, India |
|
|
|
|
Services Center : |
Plot No.16, Teachers Colony, Cheranma Nagar, Coimbatore – 641004, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Marc Christian Michel Bernard Jarrault Jarrault |
|
Designation : |
Managing Director |
|
Address : |
No.1/3, Sumeru Enclave, 9th A Main Road, 9th Cross, Jayanagar 2nd Block, Bangalore – 560011, Karnataka, India |
|
Date of Birth/Age : |
27.05.1956 |
|
Date of Appointment : |
08.01.2014 |
|
DIN No.: |
06717498 |
|
|
|
|
Name : |
Bentz Ewald |
|
Designation : |
Director |
|
Address : |
Laufdorfer Weg 85, Wetzlar - 35578, Germany |
|
Date of Birth/Age : |
25.03.1948 |
|
Date of Appointment : |
06.06.2007 |
|
DIN No.: |
01903147 |
|
|
|
|
Name : |
Susanne Frank |
|
Designation : |
Director |
|
Address : |
Ebersbach An Der Fils, Ortsteil Robwalden, Amselweg 10, Germany, 73061, Germany |
|
Date of Birth/Age : |
27.05.1967 |
|
Date of Appointment : |
20.01.2010 |
|
DIN No.: |
02683659 |
|
|
|
|
Name : |
Andreas Paul Lapp |
|
Designation : |
Director |
|
Address : |
Stadtbezirk, Vaihingen, Rosentalstr 56, Stuttgart, 70565, Germany |
|
Date of Birth/Age : |
06.03.1956 |
|
Date of Appointment : |
15.02.2012 |
|
DIN No.: |
00481791 |
|
|
|
|
Name : |
Richard Lee |
|
Designation : |
Director |
|
Address : |
2 Ripley Crescent, Singapore, 556180, Singapore |
|
Date of Birth/Age : |
21.08.1958 |
|
Date of Appointment : |
11.01.2013 |
|
DIN No.: |
05359686 |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Dhruva Yalvigi |
|
Designation : |
Company Secretary |
|
Address : |
# 302, Arise Crosswoods Apartment, Raghavana Palya Near
Jambu Savari Dinne, J P Nagar, 8th Phase, Bangalore – 560076,
Karnataka, India |
|
Date of Appointment : |
08.06.2015 |
|
PAN No.: |
AGYPJ4824D |
|
|
|
|
Name : |
Mr. Nitin |
|
Designation : |
Production Department |
MAJOR SHAREHOLDERS
AS ON 02.02.2017
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Siegbert Lapp |
|
1 |
|
Andreas Lapp |
|
1 |
|
Lapp Holding Asia Pte. Limited, Singapore |
|
1657066 |
|
|
|
|
|
Total |
|
1657068 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Lapp Holding Asia Pte. Limited, Singapore |
|
1268575 |
|
|
|
|
|
Total |
|
1268575 |
Equity Share Break up (Percentage of Total Equity)
AS ON 02.02.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided Family (Foreign national {other than NRI})] |
0.0001207 |
|
Promoters [Bodies corporate] |
99.9998793 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacturing and trading of cables, accessories, related products and systems. [Registered activity and also confirmed by management] |
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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 : |
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Products : |
·
Finished Goods |
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Countries : |
·
Dubai |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
France ·
Italy |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
DBS Bank Limited, Salarpuria Windsor, No. 3
(Old No. 10), Ulsoor Road, Ward No. 78, Bangalore – 560042, Karnataka, India |
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Facilities : |
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|
Auditors : |
|
|
Name : |
B S
R and Associates LLP Chartered Accountants |
|
Address : |
Maruthi
Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560042,
Karnataka, India |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Ultimate Holding company : |
· Lapp Holding AG, Germany |
|
|
|
|
Holding company : |
·
Lapp Holding Asia Pte. Limited, Singapore |
|
|
|
|
Enterprises which are
owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· U.I. Lapp GmbH · Lapp Korea LLC. · Camuna Cavi s.r.l · Miltronic AS · Lapp Logistics Pte. Limited · Lapp Muller S.A.S. · LAPP KABLO San. ve Tic. Limited, ti. · Lapp USA, Inc. · Lapp Engineering · Lapp IT Services Private Limited · Lapp Service GmbH · Lapp Immobilien GmbH and Co. KG · Lapp Benelux BV · Lapp Italia · Lapp Kabel shanghai co., Limited · JJ-Lapp Cable (S) Pte Limited · Lapp Cable works Shanghai Co. Limited · Lapp Cables Middle East FZE · Lapp Tannehill Inc. ·
Lapp Systems Gmbh |
CAPITAL STRUCTURE
AFTER 02.02.2017
Authorised Capital : INR
640.000 Million
Issued, Subscribed & Paid-up Capital : INR 180.899 Million
AS ON 02.02.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 100/- each |
INR 500.000 Million |
|
1400000 |
Preference Shares |
INR 100/- each |
INR 140.000 Million |
|
|
|
|
|
|
|
Total
|
|
INR 640.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1657068 |
Equity Shares |
INR 100/- each |
INR 165.706
Million |
|
1268575 |
Preference Shares |
INR 100/- each |
INR 126.858 Million |
|
|
|
|
|
|
|
Total
|
|
INR 292.564
Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
30.09.2016 |
30.09.2015 |
30.09.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
292.564 |
292.564 |
292.564 |
|
(b) Reserves and Surplus |
1507.771 |
1482.026 |
1379.042 |
|
(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) |
1800.335 |
1774.590 |
1671.606 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
57.900 |
86.850 |
115.800 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
14.700 |
14.300 |
14.200 |
|
(d) long-term
provisions |
13.647 |
8.496 |
0.292 |
|
Total Non-current
Liabilities (3) |
86.247 |
109.646 |
130.292 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
615.452 |
534.336 |
623.307 |
|
(b) Trade
payables |
672.067 |
338.557 |
426.881 |
|
(c) Other
current liabilities |
164.334 |
136.103 |
187.132 |
|
(d) Short-term
provisions |
71.640 |
60.248 |
35.592 |
|
Total Current
Liabilities (4) |
1523.493 |
1069.244 |
1272.912 |
|
|
|
|
|
|
TOTAL |
3410.075 |
2953.480 |
3074.810 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1039.721 |
1120.525 |
924.880 |
|
(ii)
Intangible Assets |
8.386 |
9.861 |
2.460 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
1.329 |
209.968 |
|
(iv)
Intangible assets under development |
3.304 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
46.173 |
11.836 |
6.949 |
|
(d)
Long-term
loans and advances |
101.261 |
97.540 |
97.309 |
|
(e) Other
Non-current assets |
0.000 |
0.100 |
0.586 |
|
Total Non-Current
Assets |
1198.845 |
1241.191 |
1242.152 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1125.403 |
799.283 |
919.734 |
|
(c) Trade
receivables |
872.130 |
697.980 |
648.228 |
|
(d) Cash and bank
balances |
6.012 |
47.360 |
112.485 |
|
(e)
Short-term loans and advances |
207.685 |
167.186 |
152.190 |
|
(f) Other
current assets |
0.000 |
0.480 |
0.021 |
|
Total
Current Assets |
2211.230 |
1712.289 |
1832.658 |
|
|
|
|
|
|
TOTAL |
3410.075 |
2953.480 |
3074.810 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
30.09.2016 |
30.09.2015 |
30.09.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
4405.475 |
3990.568 |
3836.210 |
|
|
Other Income |
9.085 |
23.187 |
19.846 |
|
|
TOTAL |
4414.560 |
4013.755 |
3856.056 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2413.105 |
2127.107 |
2070.033 |
|
|
Purchases of
Stock-in-Trade |
1105.635 |
587.358 |
693.391 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(283.432) |
42.098 |
(70.648) |
|
|
Employee benefit expense |
358.732 |
337.833 |
287.775 |
|
|
CSR expenditure |
0.258 |
0.746 |
0.000 |
|
|
Other expenses |
524.365 |
545.482 |
550.544 |
|
|
TOTAL |
4118.663 |
3640.624 |
3531.095 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
295.897 |
373.131 |
324.961 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
54.179 |
60.525 |
57.480 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
241.718 |
312.606 |
267.481 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
128.892 |
131.706 |
119.401 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
112.826 |
180.900 |
148.080 |
|
|
|
|
|
|
|
Less |
TAX |
40.163 |
73.317 |
56.160 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
72.663 |
107.583 |
91.920 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
-
Basic |
41.07 |
62.16 |
56.43 |
|
|
-
Diluted |
40.17 |
59.47 |
54.07 |
|
Particulars |
|
|
30.09.2017 |
|
Sales Turnover (Approximately) |
|
|
4450.000 |
Expected Sales (2017-2018): INR 4500.000 Million
The above information has been parted by Mr. Nitin (Production
Department)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
30.09.2016 |
30.09.2015 |
30.09.2014 |
|
Current Maturities of Long term debt |
28.950 |
28.950 |
37.309 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
150.103 |
342.971 |
106.928 |
|
Net cash flows from (used in) operating activities |
83.112 |
275.858 |
50.995 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
30.09.2016 |
30.09.2015 |
30.09.2014 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
72.26 |
63.84 |
61.68 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
5.05 |
5.72 |
5.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
69.71 |
45.52 |
56.38 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.26 |
0.47 |
0.35 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.28 |
0.33 |
0.29 |
LEVERAGE RATIOS
|
PARTICULARS |
30.09.2016 |
30.09.2015 |
30.09.2014 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.47 |
0.40 |
0.46 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.39 |
0.37 |
0.46 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.85 |
0.60 |
0.76 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.58 |
0.64 |
0.68 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.46 |
6.16 |
5.65 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
30.09.2016 |
30.09.2015 |
30.09.2014 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
1.65 |
2.70 |
2.40 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.13 |
3.64 |
2.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
4.04 |
6.06 |
5.50 |
SOLVENCY RATIOS
|
PARTICULARS |
30.09.2016 |
30.09.2015 |
30.09.2014 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.45 |
1.60 |
1.44 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.71 |
0.85 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.53 |
0.60 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
2.40 |
2.22 |
2.65 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.45 |
1.60 |
1.44 |
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 |
30.09.2014 |
30.09.2015 |
30.09.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
292.564 |
292.564 |
292.564 |
|
Reserves & Surplus |
1379.042 |
1482.026 |
1507.771 |
|
Net
worth |
1671.606 |
1774.590 |
1800.335 |
|
|
|
|
|
|
Long-term borrowings |
115.800 |
86.850 |
57.900 |
|
Short term borrowings |
623.307 |
534.336 |
615.452 |
|
Current maturities of
long-term debts |
37.309 |
28.950 |
28.950 |
|
Total
borrowings |
776.416 |
650.136 |
702.302 |
|
Debt/Equity
ratio |
0.464 |
0.366 |
0.390 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.09.2014 |
30.09.2015 |
30.09.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3836.210 |
3990.568 |
4405.475 |
|
|
|
4.024 |
10.397 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.09.2014 |
30.09.2015 |
30.09.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
3836.210 |
3990.568 |
4405.475 |
|
Profit/ (Loss) |
91.920 |
107.583 |
72.663 |
|
|
2.40
% |
2.70
% |
1.65
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
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 |
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 |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
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 |
NOTE: Registered office
of the company has been shifted from 98, J and K Jigani Industrial Estate,
Phase II, Jigani Anekal Taluk, Bangalore – 562106, Karnataka, India to the
present address w.e.f. 12.11.2013.
BACKGROUND:
The company is engaged in the business of manufacturing and trading of cables, accessories, related products and systems. The Company is a wholly owned subsidiary of Lapp Holding Asia Pte Limited. The ultimate holding company is Lapp Holding AG. The registered office of the Company is situated in Bangalore, Karnataka. The Company has a manufacturing facility at Bangalore and Bhopal.
BUSINESS
PERFORMANCE:
During the year the company recorded a growth of 5% in sale of manufactured goods and 30% in sale of traded goods. Total revenue increased to INR 4414.000 million from INR 4014.000 million. However the net profit after tax has come down to INR 73.000 million from INR 108.000 million because of drop in Gross Profit margin mainly due to impact of drop in Copper LME and increase in total cost. Despite this, the company ranks # 2 in Control Cable market with growing market share of 12%.
UNSECURED LOANS:
|
PARTICULARS |
30.09.2016 INR In Million |
30.09.2015 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Term loans from others |
57.900 |
86.850 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
193.081 |
194.368 |
|
|
|
|
|
Total |
250.981 |
281.218 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G59325209 |
10582810 |
DBS BANK LIMITED |
20/07/2015 |
27/10/2017 |
- |
400000000.0 |
SALARPURIA WINDSOR, NO. 3 (OLD NO. 10) ULSOOR ROAD, WARD NO. 78 BANGALORE KA560042IN |
|
2 |
G48288658 |
10545550 |
AXIS BANK LIMITED |
17/12/2014 |
06/07/2017 |
- |
300000000.0 |
CORPORATE BANKING BRANCH, NO1, EXPRESS BUILDING SECOND FLOOR, QUEENS ROAD, BANGALORE KA560001IN |
|
3 |
G43371954 |
10136678 |
THE BANK OF NOVA SCOTIA |
18/12/2008 |
25/04/2017 |
- |
200000000.0 |
1110, 11TH FLOOR, EAST WING, 26-27, RAHEJA TOWERS, M. G. ROAD, BANGALORE KA560001IN |
|
4 |
C57138943 |
10316939 |
THE BANK OF NOVA SCOTIA |
28/09/2011 |
02/11/2011 |
15/06/2015 |
150000000.0 |
BANGALORE BRANCH NO 25/2, S N TOWERS, M G ROAD BANGALORE KA560001IN |
|
5 |
C42663807 |
90199315 |
CORPORTION BANK |
09/03/2000 |
07/09/2010 |
29/01/2015 |
220000000.0 |
INDUSTRIAL FINANCE BRANCH, RALLARAM BLDG.NO.30, MISSION ROAD BANGALORE KA560027IN |
|
6 |
B11465549 |
10099946 |
THE BANK OF NOVA SCOTIA |
11/04/2008 |
07/10/2008 |
08/04/2011 |
150000000.0 |
BANGALORE BRANCH S N TOWERS NO 25/2 M G ROAD BANGALORE KA560001IN |
|
7 |
Y10301057 |
90199158 |
TIMES BANK LIMITED |
10/11/1998 |
- |
14/11/2002 |
33500000.0 |
BANGALORE BRANCH NO. 25/1; M.G. ROAD BANGALORE KA560001IN |
|
8 |
Y10300912 |
90199013 |
ANZ GRINDLAYS BANK LIMITED |
02/08/1997 |
- |
10/03/2000 |
100000000.0 |
RAHEJA TOWERSM.G. ROAD BANGALORE KA560001IN |
FIXED ASSETS:
Tangible assets
· Land
· 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,
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 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
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 |
YES |
|
--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.