|
|
|
MIRA
INFORM REPORT
|
Report No. : |
509389 |
|
Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
DANFOSS POWER SOLUTIONS INDIA PRIVATE LIMITED [w.e.f. 06.09.2013] |
|
|
|
|
Formerly Known
As : |
SAUER-DANFOSS INDIA PRIVATE LIMITED |
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Registered
Office : |
Gat No. 94-100, Hi-Cliff Industrial Estate, Wagholi-Rahu Road,
Kesnand, Off Nagar Road, Pune-412207, Maharashtra |
|
Tel. No.: |
91-20-66287800/ 66287849 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
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|
|
|
Date of
Incorporation : |
05.02.2001 |
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|
|
|
Com. Reg. No.: |
11-131740 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
INR 201.572 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U00000PN2001PTC131740 |
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|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
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TIN No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAFCS2954P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturing and Trading of Mobile Hydraulic Products and
Providing Specialized after Sales Service. Subject manufactures Hydraulic
components such as Steering Valve, Brake Valve, Valve Blocks, Master
Cylinder, Slave Valves etc. [Registered Activity] |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
INR 266658400 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Danfoss Power Solutions
Holding ApS “, Denmark. The company was incorporated in the year 2001. It is engaged in importing and marketing of Mobile Hydraulic products
and providing specialized after sale services and manufacturer of Mobile
Hydraulic products. For the financial year 2017, the revenue of the company has increased
by 5.90% along with decent profit margin of 10.04%. The healthy financial profile of the company is marked by strong
networth base and debt free balance sheet profile along with favourable gap
between trade payables and trade receivables. Rating takes into consideration strong financial and managerial
support that the company receives from its holding entity backed by its well
experienced management team. Business is active. Payment seems to be regular. In view of aforesaid, the company can be considered for good 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 (30.09.2017) |
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 |
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 16.05.2018.
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 BY
|
Name : |
Mr. Jitendra Pawar |
|
Designation : |
Senior Accounts Executive |
|
Contact No.: |
91-20-66287849 |
|
Date : |
15.05.2018 |
LOCATIONS
|
Registered Office/ Factory : |
Gat No. 94-100, Hi-Cliff Industrial Estate, Wagholi-Rahu Road,
Kesnand, Off Nagar Road, Pune-412207, Maharashtra, India |
|
Tel. No.: |
91-20-66287800/ 66287849 |
|
Fax No.: |
91-20-66287845/ 46 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Upinder Kishen Razdan |
||||||||||
|
Designation : |
Managing Director |
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|
Address : |
23, Laxmi Vihar Apartment H3 Block, Vikaspuri, New
Delhi-110018, India |
||||||||||
|
Date of Birth/Age : |
25.04.1960 |
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Qualification : |
Bachelor of Engineering |
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Date of Appointment : |
11.072005 |
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PAN No.: |
AUZPM1319D |
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DIN No.: |
00918554 |
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|
||||||||||
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Name : |
Gitte Mailand Jensen |
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Designation : |
Additional Director |
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|
Address : |
No 9, Second Avenue Seashore Town, Panayur,
Chennai-600119, Tamilnadu, India |
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|
Date of Appointment : |
13.11.2017 |
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DIN No.: |
07944684 |
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Name : |
Torben Jessen Christensen |
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Designation : |
Additional Director |
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Address : |
Kolonnevej 13, Dybbol, 6400 Sonderborg Sonderborg 6400 DK |
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Date of Appointment : |
13.11.2017 |
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DIN No.: |
08005313 |
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Name : |
Anders Stahlschmidt |
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Designation : |
Additional Director |
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Address : |
Kongevej 106 6400 Sonderborg Sonderborg 6400 DK |
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Date of Appointment : |
13.11.2017 |
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DIN No.: |
08005318 |
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KEY EXECUTIVES
|
Name : |
Mr. Mohan Rawat |
|
Designation : |
Company Secretary |
|
Address : |
C4, Ist Floor, Shinshah Society Monginis Lane, Koregaon
Park, Pune-411001, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1970 |
|
Qualification : |
CS, BCOM |
|
Date of Appointment : |
01.07.2007 |
|
PAN No.: |
AELPR4955A |
|
|
|
|
Name : |
Mr. Jitendra Pawar |
|
Designation : |
Senior Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Danfoss Power Solutions Holding ApS, Denmark |
20157162 |
100.00 |
|
Danfoss Power Solutions GmbH, Germany |
1 |
0.00 |
|
|
|
|
|
Total |
20157163 |
100.00 |
AS ON: 21.08.2017
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Promoters – Body Corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Mobile Hydraulic Products and
Providing Specialized after Sales Service. Subject manufactures Hydraulic
components such as Steering Valve, Brake Valve, Valve Blocks, Master
Cylinder, Slave Valves etc. [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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Imports : |
Not Divulged |
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Terms : |
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||||
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Selling : |
Not Divulged |
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||||
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
---- |
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Auditors : |
|
|
Name : |
Price Waterhouse LLP Chartered Accountants |
|
Address : |
8th Floor, Door No 129-140, Chennai, Tamilnadu, India |
|
PAN No.: |
AAFFP3698A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Holding Company : |
Danfoss Power Solutions Holding ApS, Denmark |
|
|
|
|
Ultimate Holding Company : |
Danfoss A/S, Denmark |
|
|
|
|
Fellow Subsidiary Companies : |
· Danfoss Power Solutions S.r.l. · Danfoss Power Solutions AB · Daikin-Sauer-Danfoss LTD. · Danfoss Power Solutions?Zhejiang?Co., · Danfoss Power Solutions Pte. Ltd. · Danfoss Power Solutions Trading (Shanghai) Co., Ltd. · Danfoss Industries Private Limited, India [U29199TN1999PTC041877] · Danfoss Power Solutions GmbH & Co. OHG · Danfoss Power Solutions (US) Company · Danfoss Power Solutions (Shanghai) Co., Ltd. · Danfoss Power Solutions Ind. E Com . Eletrohidraulica Ltda. · Danfoss Power Solutions sp. z o.o. · Danfoss Power Solutions Ltd. (Korea) · Vacon Drives and Controls Private Limited, India [U31104TN2006PTC060986] · Danfoss Shanghai Hydrostatic Transmission Co,LTD · Danfoss Power Solutions Holding ApS · Sauer Shanghai Hydrostatic Transmission Co.,Ltd. · Danfoss Power Solutions a.s. |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21000000 |
Equity Shares |
INR 10/- each |
INR 210.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20157163 |
Equity Shares |
INR 10/- each |
INR 201.572
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in 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 |
201.572 |
201.572 |
201.572 |
|
(b) Reserves and Surplus |
1131.720 |
928.766 |
691.410 |
|
(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) |
1333.292 |
1130.338 |
892.982 |
|
|
|
|
|
|
(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 |
56.174 |
40.569 |
38.938 |
|
Total Non-current
Liabilities (3) |
56.174 |
40.569 |
38.938 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
311.817 |
284.765 |
232.428 |
|
(c) Other
current liabilities |
70.137 |
55.210 |
47.993 |
|
(d) Short-term
provisions |
19.595 |
14.271 |
19.494 |
|
Total Current
Liabilities (4) |
401.549 |
354.246 |
299.915 |
|
|
|
|
|
|
TOTAL |
1791.015 |
1525.153 |
1231.835 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
311.848 |
329.368 |
276.574 |
|
(ii)
Intangible Assets |
0.530 |
1.011 |
0.000 |
|
(iii) Tangible assets
capital work-in-progress |
8.698 |
0.635 |
2.102 |
|
(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) |
34.581 |
20.537 |
21.008 |
|
(d)
Long-term loans and advances |
27.164 |
23.174 |
42.045 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
382.821 |
374.725 |
341.729 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
152.655 |
143.965 |
128.898 |
|
(c) Trade
receivables |
435.335 |
367.434 |
311.282 |
|
(d) Cash and
bank balances |
33.415 |
67.004 |
123.690 |
|
(e)
Short-term loans and advances |
786.789 |
566.694 |
322.354 |
|
(f) Other
current assets |
0.000 |
5.331 |
3.882 |
|
Total
Current Assets |
1408.194 |
1150.428 |
890.106 |
|
|
|
|
|
|
TOTAL |
1791.015 |
1525.153 |
1231.835 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2021.011 |
1908.450 |
1599.859 |
|
|
Other Income |
79.058 |
65.476 |
33.721 |
|
|
TOTAL |
2100.069 |
1973.926 |
1633.580 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
676.805 |
558.496 |
490.307 |
|
|
Purchases of
Stock-in-Trade |
539.183 |
612.944 |
502.545 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
9.404 |
(23.104) |
3.843 |
|
|
Employee benefit expense |
213.011 |
179.364 |
167.797 |
|
|
CSR expenditure |
3.464 |
0.191 |
0.373 |
|
|
Other expenses |
282.013 |
241.614 |
207.854 |
|
|
TOTAL |
1723.880 |
1569.505 |
1372.719 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
376.189 |
404.421 |
260.861 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.291 |
8.599 |
0.637 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
375.898 |
395.822 |
260.224 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
56.069 |
52.406 |
51.578 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
319.829 |
343.416 |
208.646 |
|
|
|
|
|
|
|
Less |
TAX |
116.875 |
106.060 |
71.992 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
202.954 |
237.356 |
136.654 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
277.004 |
319.329 |
217.045 |
|
|
Earnings on other income |
55.668 |
54.177 |
55.951 |
|
|
TOTAL EARNINGS |
332.672 |
373.506 |
272.996 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
194.048 |
124.185 |
109.783 |
|
|
Components and spare
parts |
18.696 |
8.920 |
10.096 |
|
|
Capital Goods |
20.699 |
60.529 |
0.561 |
|
|
TOTAL IMPORTS |
233.444 |
193.635 |
120.439 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
10.07 |
11.78 |
6.78 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
353.154 |
372.511 |
315.111 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
289.653 |
324.517 |
293.676 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
78.62 |
70.27 |
71.02 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.64 |
5.19 |
5.14 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
93.60 |
88.73 |
85.45 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.46 |
2.81 |
2.02 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.17 |
1.22 |
0.94 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.22 |
0.23 |
0.24 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.30 |
0.31 |
0.34 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.24 |
0.29 |
0.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1292.75 |
47.03 |
409.51 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
10.04 |
12.44 |
8.54 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
11.33 |
15.56 |
11.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.22 |
21.00 |
15.30 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
3.51 |
3.25 |
2.97 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
3.13 |
2.84 |
2.54 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.74 |
0.74 |
0.72 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
3.51 |
3.25 |
2.97 |
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 |
201.572 |
201.572 |
201.572 |
|
Reserves & Surplus |
691.410 |
928.766 |
1131.720 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
892.982 |
1130.338 |
1333.292 |
|
|
|
|
|
|
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
1599.859 |
1908.450 |
2021.011 |
|
|
|
19.289 |
5.898 |
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 |
1599.859 |
1908.450 |
2021.011 |
|
Profit |
136.654 |
237.356 |
202.954 |
|
|
8.54
% |
12.44
% |
10.04
% |
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 |
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 |
Litigations that the firm/promoter
involved in |
-- |
|
32 |
Market information |
-- |
|
33 |
Payments terms |
No |
|
34 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
COMPANY OVERVIEW
Danfoss Power Solutions India Private Limited ('the Company') is a private company domiciled and headquartered in Pune India. The Company was incorporated on 5 February 2001.The Company is engaged in manufacturing and trading of mobile hydraulic products and providing specialized after sales service. The Company has its manufacturing facility at Pune, where it manufactures Hydraulic components such as Steering Valve, Brake Valve, Valve Blocks, Master Cylinder, Slave Valves etc. Products are used in Agricultural/Construction/Material Handling Machineries. Products manufactured by the Company are sold both in Domestic as well as Export Market.
PERFORMANCE OF THE
COMPANY
The Company, which is a wholly owned subsidiary of Danfoss Power Solutions Holding Aps, was incorporated on February 5, 2001. It Registered office is in Pune, Maharashtra. The Company was incorporated to carry on the business of importing and marketing Mobile Hydraulic Products, providing specialized after-sales service and manufacturing of Mobile Hydraulic Products and Components. Main industry segments, to which the Company contributes, include Agriculture Machinery, Construction Industry and Material Handling Industry. Company is one of the pioneers in the Indian hydraulic market with leadership position in several hydraulic applications. Over the year of its operations in India, Company has been able to establish a very strong customer base with some of the biggest OEM’s in India and remain successful in gaining bigger share of business in India Market. Company has a state-of-art manufacturing facility in Pune, Maharashtra where it manufactures Steering Valve, Brake Valve and Valve Blocks which are sold to both domestic as well as foreign customers in Europe, America and other countries. Company has its’ sales offices in major metro cities. Besides, the Company has a wide network of distributors to cater to Indian customers in all the geographies.
During the year Company has witnessed substantial improvement in the demand, both from construction as well as from Agriculture sector, which shows the revival of economic activates. With the continued focus on building the capacities in Indian operation over the last few years, Company currently finds itself in a better position to meet the increasing demand of the customers as the economic activities further accelerate. Parallelly, Company also continued its focus on further indigenization of the critical components which are used for it manufacturing activities. This has helped the Company to remain competitive in Indian Market, which the company enjoys the leadership for its manufactured products. Besides, Company continued its focus on optimization of vertical integration in the manufacturing operation of the Company. Company continued to add new customers in Europe, Americas and other Asian markets during the year. Management is optimistic that this will not only help in increasing the sales in long term on a sustain basis but also help in better risk management by way of wider geographical reach. Continued focus on Research and Development activities within the group, has benefited in optimizing the Material cost as well as in-house operational cost and give a great value proposition to the customers. Various productivity improvement initiative and project were carried out during the year to remove waste from the operations and achieve excellence in all areas of operations.
On Domestic front, management continues to believe in the long term potential of Indian economy and confident that once the economic activities accelerate; it will be in strong position to meet the market demand for its domestic customers.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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 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 67.53 |
|
UK Pound |
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PNM |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
IND |
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.