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|
|
MIRA INFORM REPORT
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Report No. : |
509347 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
SULZER PUMPS INDIA PRIVATE LIMITED [w.e.f.05.03.2018] |
|
|
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|
Formerly known
as : |
SULZER PUMPS INDIA LIMITED |
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Registered
Office : |
9, MIDC, Thane
Belapur Road, Digha, Navi Mumbai – 400708, Maharashtra |
|
Tel. No.: |
91-22-39130500 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
19.06.1974 |
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Com. Reg. No.: |
11-017561 |
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Capital
Investment / Paid-up Capital : |
INR 25.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1974PTC017561 |
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IEC No.: |
0388089288 |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK2238F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is mainly engaged in the Manufacturing and Sale of Pumps, Spare Parts and Related Accessories. [Registered Activity] |
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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 |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “Sulzer AG, Switzerland”. The company was incorporated in the year 1974. It is engaged in Manufacturer and Sale of Pumps, Spare Parts and Related Accessories. For the financial year 2017, the company has achieved 53.02% growth in its revenue as compared to previous year revenue and has maintained decent profitability margin of 8.51% during the year under review. The rating takes into consideration robust financial profile of the company marked by healthy net worth base along with strong debt coverage indicators due of debt free balance sheet profile. Rating also takes into account of strong financial and managerial support that company receives from its holding entity backed by its well experienced management team. The company has decent Earning Per Share (EPS) of INR 193.34 against the face value (FV) of INR 10. Rating also derives strength from company’s established track record of business. However, rating strengths are partially offset by unfavourable gap between trade payables and trade receivables. Business is active. Payment seems reported to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. NOTE: The Company has been converted from Limited company to Private Limited company w.e.f. 4th March, 2018 |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
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 16.08.2018.
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. Sunil |
|
Designation : |
Deputy Manager |
|
Contact No.: |
91-9833452931 |
|
Date: |
13.05.2018 |
MANAGEMENT NON-COOPERATIVE [TEL. NO.:
91-22-39130500]
LOCATIONS
|
Registered Office/ Factory : |
9, MIDC, Thane
Belapur Road, Digha, Navi Mumbai – 400708, Maharashtra, India |
|
Tel. No.: |
91-22-39130500/ 39130525 |
|
Mobile No.: |
91-9833452931 (Mr. Sunil) |
|
Fax No.: |
91-22-27796811 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office : |
1 A, Room No 401, 4th Floor, Elgin Chamber, Ashutosh Mukherjee Road, Lala Lajpat Rai Sarani, Kolkata - 700020, West Bengal, India |
|
Tel. No.: |
91-33-24856007 / 24856008 |
|
Fax No.: |
91-33-24856009 |
DIRECTORS
AS ON 31.03.2017
|
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 |
|
Qualification : |
B.E. (Mech.) |
|
Date of Appointment : |
20.12.2013 |
|
PAN No.: |
AAAPD8425C |
|
DIN No.: |
06766065 |
|
|
|
|
Name : |
Mr. Pooran Gokaldas Tahilramaney |
|
Designation : |
Director |
|
Address : |
White House, Apartment No. 301, N. Gamadia Road, Mumbai –
400026, Maharashtra,
India |
|
Date of Birth/Age : |
14.04.1928 |
|
Qualification : |
Lawyer |
|
Date of Appointment : |
07.10.1986 |
|
PAN No.: |
AAGPT7261A |
|
DIN No.: |
00107873 |
|
|
|
|
Name : |
Mrs. Heena Tansukh Sheth |
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Designation : |
Director |
|
Address : |
302, Mahavir Sadan, Balaram Street Grant Road, Mumbai - 400007, Maharashtra, India |
|
Date of Birth/Age : |
25.08.1957 |
|
Qualification : |
Lawyer |
|
Date of Appointment : |
20.03.2015 |
|
PAN No.: |
AACPD5358E |
|
DIN No.: |
00364793 |
|
|
|
|
Name : |
Mrs. Tania Micki |
|
Designation : |
Director |
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Address : |
Herrenguetlistrasse, 26, Wallisellen, 8304, Switzerland |
|
Date of Birth/Age : |
11.11.1971 |
|
Qualification : |
Accountant |
|
Date of Appointment : |
13.02.2014 |
|
DIN No.: |
06812822 |
|
|
|
|
Name : |
Mr. Balaji Bakthisaran |
|
Designation : |
Additional Director |
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Address : |
D/30, Mantri Kishor Park, Bhosale Nagar, Pune - 411007, Maharashtra, India |
|
Date of Appointment : |
29.03.2018 |
|
DIN No.: |
00122523 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholder |
|
No. of Shares |
|
Sulzer AG, Switzerland |
|
2488250 |
NOTE:
The paid up equity share capital as on 31st March, 2017 was INR 25.000 million. The shareholding of Sulzer Pump Limited, Switzerland of INR 2.488 million equity shares of INR 10 each was transferred during the year (2017) to Sulzer AG consequent to merger of Sulzer Pumps Limited with Sulzer AG.
AS ON 30.09.2016
|
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 |
|
Sanjay Neemjee 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 |
AS ON 30.09.2016
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Public/Other than promoters - Individual/Hindu Undivided Family – Indian |
0.47 |
|
Public/Other than promoters - Bodies corporate |
99.53 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is mainly engaged in the Manufacturing and Sale of Pumps, Spare Parts and Related Accessories. [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 : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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Name : |
B S R and Company LLP Chartered Accountants |
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Address : |
1St Floor, Lodha Excellus, Apollo Mills Compound, N M Joshi Marg, Mahalakshmi, Maharashtra, India |
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PAN No.: |
AAAFB9852F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company : |
Sulzer AG, Switzerland |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Sulzer Pumps (Deutschland) Gmbh, Germany · Sulzer Pumps Rus LLC, Russian Federation · Sulzer Korea Limited, Korea , Republic Of · Sulzer Pumps Spain S.A., Spain · Sulzer Pumps (ANZ) Pty. Limited, Australia · Sulzer (Middle East) FZCO, United Arab Emirates · Sulzer Pumps (US) Inc., United States · Sulzer Pumps (South Africa) Pty. Limited, South Africa · Sulzer Pumps Mexico SA. de CV, Mexico · Sulzer Singapore Pte. Limited, Singapore · Sulzer Saudi Pump Company Limited, Saudi Arabia · Sulzer Brazil S/A, Brazil · Sulzer Pumps Suzhou Limited, China · Sulzer Pumps (UK) Limited, United Kingdom · Sulzer Pumps (Saudi Arabia) LLC, Saudi Arabia · Sulzer Tech India Private Limited, India · CIN No.: U74140MH2006FTC166028 · Sulzer Management AG, Switzerland · Sulzer Pomps France, France · Sulzer Pumps Waste Water Malaysia SdnBhd, Malaysia · Sulzer India Private Limited, India · CIN No.: U29297PN1988PTC046977 · Sulzer Pumps Finland Oy, Finland · Sulzer Dalian Pumps and Compressors Limited, China · PT Sulzer Turbo Services, Indonesia · Sulzer Pumps (Canada) Inc., Canada · Sulzer Austria GmbH, Austria · Sulzer Australia Pty Limited, Australia · Sulzer Bombas Chile Ltda, Chile · Sulzer Pumps Norway A/S, Norway · Sulzer Pompes Process SASU, Korea, Republic Of · Sulzer Pumps Colombia S.A.S, United States · Saudi Pump Factory, Saudi Arabia · Sulzer Pumps Russia (Suzao), Russian Federation |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
INR 10/- each |
INR 25.000
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 |
25.000 |
25.000 |
25.000 |
|
(b) Reserves &
Surplus |
3529.220 |
3045.872 |
2854.159 |
|
(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) |
3554.220 |
3070.872 |
2879.159 |
|
|
|
|
|
|
(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 |
124.707 |
149.231 |
132.402 |
|
Total Non-current
Liabilities (3) |
124.707 |
149.231 |
132.402 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
861.406 |
708.934 |
717.613 |
|
(c) Other current
liabilities |
1078.774 |
1002.788 |
519.879 |
|
(d) Short-term provisions |
684.459 |
227.409 |
333.901 |
|
Total Current Liabilities
(4) |
2624.639 |
1939.131 |
1571.393 |
|
|
|
|
|
|
TOTAL |
6303.566 |
5159.234 |
4582.954 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
440.407 |
316.098 |
266.435 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
13.992 |
71.531 |
5.808 |
|
(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) |
93.436 |
155.910 |
178.055 |
|
(d) Long-term Loan and Advances |
530.495 |
335.008 |
346.424 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1078.330 |
878.547 |
796.722 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
267.942 |
336.528 |
209.614 |
|
(c) Trade receivables |
1092.560 |
814.050 |
1105.812 |
|
(d) Cash and cash
equivalents |
2132.114 |
1328.937 |
1530.207 |
|
(e) Short-term loans and
advances |
376.894 |
504.777 |
186.909 |
|
(f) Other current assets |
1355.726 |
1296.395 |
753.690 |
|
Total Current Assets |
5225.236 |
4280.687 |
3786.232 |
|
|
|
|
|
|
TOTAL |
6303.566 |
5159.234 |
4582.954 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
5682.577 |
3713.676 |
5348.143 |
|
|
Other Income |
320.534 |
195.858 |
451.038 |
|
|
TOTAL |
6003.111 |
3909.534 |
5799.181 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2828.012 |
1939.777 |
3015.303 |
|
|
Purchases of
Stock-in-Trade |
237.306 |
55.801 |
110.682 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
13.307 |
(109.599) |
41.543 |
|
|
Employees benefits
expense |
769.465 |
641.128 |
661.862 |
|
|
CSR expenditure |
0.000 |
0.000 |
9.785 |
|
|
Other expenses |
1336.448 |
1032.388 |
1165.658 |
|
|
TOTAL |
5184.538 |
3559.495 |
5004.833 |
|
|
|
|
|
|
|
|
PROFIT BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
818.573 |
350.039 |
794.348 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
0.000 |
6.960 |
6.096 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX,
DEPRECIATION AND AMORTISATION |
818.573 |
343.079 |
788.252 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
59.250 |
48.220 |
53.069 |
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
759.323 |
294.859 |
735.183 |
|
|
|
|
|
|
|
Less |
TAX |
275.975 |
103.146 |
313.994 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
483.348 |
191.713 |
421.189 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Export of goods |
|
|
|
|
|
Service charges |
16.230 |
|
|
|
|
Support services |
66.240 |
|
|
|
|
Commission income |
0.010 |
|
|
|
|
Others |
16.690 |
|
|
|
|
TOTAL EARNINGS |
4421.410 |
2007.670 |
2678.870 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
193.34 |
76.69 |
207.69 |
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 |
1115.257 |
12.604 |
377.381 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
855.987 |
(106.184) |
128.311 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
70.18 |
80.01 |
75.47 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
5.20 |
4.56 |
4.84 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
102.57 |
129.67 |
83.79 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
3.06 |
1.04 |
3.79 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
1.80 |
0.90 |
2.92 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.42 |
0.38 |
0.34 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.74 |
0.63 |
0.55 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.13 |
0.13 |
0.09 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
0.00 |
50.29 |
130.31 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
8.51 |
5.16 |
7.88 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
7.67 |
3.72 |
9.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.60 |
6.24 |
14.63 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.99 |
2.21 |
2.41 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.89 |
2.03 |
2.28 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.56 |
0.60 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.99 |
2.21 |
2.41 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
25.000 |
25.000 |
25.000 |
|
Reserves & Surplus |
2854.159 |
3045.872 |
3529.220 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
2879.159 |
3070.872 |
3554.220 |
|
|
|
|
|
|
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 |
5348.143 |
3713.676 |
5682.577 |
|
|
|
(30.561) |
53.018 |
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 |
5348.143 |
3713.676 |
5682.577 |
|
Profit |
421.189 |
191.713 |
483.348 |
|
|
7.88% |
5.16% |
8.51% |
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 |
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 |
GENERAL INFORMATION
The company was incorporated in India on 19/06/1974. The company is mainly engaged in the manufacturing and sale of pumps, spare parts and related accessories. The company's registered office and manufacturing location are situated at Digha, Navi Mumbai.
CURRENT TRENDS
Oil and Gas – On domestic front no new refinery projects expected and only small improvement projects will continue. Few new pipelines projects expected in distribution segment. On international front, drop in crude prices causing reduction in number of projects. These coupled with installed capacities of manufacturing is creating fierce completion and consequently pressure on margins.
Power- Small and captive power plant segment is completely stopped and moved to either Solar PV or in some cases Supercritical Power Plants. Company has made inroads in Supercritical Power Plant segment and secured few jobs recently along with approval from NTPC which will help in strengthening their position in this segment. However, due to very limited number of projects in pipeline, here also there is fierce completion and very high pressure on margins.
FUTURE OUTLOOK
Based on current backlog and year to date sales the company expects to achieve sales growth of 5% in FY 2017-18. 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.
INDEX OF CHARGES:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
Y10288610 |
90186711 |
CENTRAL BANK OF INDIA |
22/09/1999 |
08/03/2002 |
15000000.0 |
NARIMAN POINT BRANCH; CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
|
2 |
Y10288359 |
90186460 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
20/06/1997 |
15/10/1999 |
97500000.0 |
52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI-400001, MAHARASHTRA, INDIA |
|
3 |
Y10288208 |
90186309 |
NEW INDIA CO.OP. ABNK LIMITED |
02/02/1996 |
- |
485000.0 |
P' D'MELLO ROAD BRANCH, 221-225; P. D'MELLO ROAD; FORT, MUMBAI-400001, MAHARASHTRA, INDIA |
|
4 |
Y10285927 |
90184028 |
THE CENTRAL BANK OF INDIA |
14/11/1995 |
- |
96500000.0 |
NARIMAN POINT BRANCH; CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
|
5 |
Y10287636 |
90185737 |
CENTRAL BANK OF INDIA |
10/07/1991 |
- |
466600.0 |
NARIMAN POINT BRANCH; CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
|
6 |
Y10287572 |
90185673 |
CENTRAL BANK OF INDIA |
21/01/1991 |
- |
1215000.0 |
NARIMAN POINT BRANCH; CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
|
7 |
Y10287463 |
90185564 |
INDUSTRAIL DEVELOPMENT BANK OF INDIA |
06/03/1990 |
14/11/1995 |
17200000.0 |
IDBI TOWERS, CUFFE PARADE, COLABA, MUMBAI-400005, MAHARASHTRA, INDIA |
|
8 |
Y10285832 |
90183933 |
INDUSTRAIL CREDIT & INVESTMENTCORPORATION OF INDIA LTD. |
06/03/1990 |
14/11/1995 |
17200000.0 |
163, BACKBAY RECLAMATION, MUMBAI-400020, MAHARASHTRA, INDIA |
|
9 |
Y10287447 |
90185548 |
INDUSTRAIL CREDIT & INVESTMENTCORPORATION OF INDIA LTD. |
11/01/1990 |
- |
15400000.0 |
163, BACKBAY RECLAMATION, MUMBAI-400020, MAHARASHTRA, INDIA |
|
10 |
Y10287237 |
90185338 |
CENTRAL BANK OF INDIA |
01/07/1988 |
30/01/1989 |
1000000.0 |
NARIMAN POINT BRANCH; CHANDER MUKHI, GROUND FLOOR, NARIMAN POINT, MUMBAI-400021, MAHARASHTRA, INDIA |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2017 (INR in million) |
31.03.2016 (INR in million) |
|
Other money for which company is contingently liable |
114.877 |
70.868 |
|
|
|
|
|
Total |
114.877 |
70.868 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and equipment
- Furniture and Fixture
- Computer
- Vehicles
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 67.53 |
|
|
1 |
INR 91.49 |
|
Euro |
1 |
INR 80.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
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.