MIRA
INFORM REPORT
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Report Date : |
07.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSAL POWER TRANSFORMER PRIVATE LIMITED |
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Formerly Known As : |
UNIVERSAL TRANSFORMERS |
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Registered Office : |
26/A, 2nd Phase, Peenya Industrial Area, Bangalore –
560008, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
30.01.2002 |
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Com. Reg. No.: |
08-30060 |
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CIN No.: [Company
Identification No.] |
U31103KA2002PTC030060 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Transformers. Design, manufacture, Sale and Services of Lager Power Transformers. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track records. Management remains non-cooperative during current investigation. Note the correct style of company as Universal Power Transformer
Private Limited. Nothing adverse reported. The company is doing well, as learnt.
It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
26/A, 2nd Phase, Peenya Industrial Area, Bangalore –
560008, Karnataka |
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Tel. No.: |
91-80-28396184 / 28396188/ 283972219 / 56971336 |
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Mobile No.: |
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Fax No.: |
91- 80 28397271 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Marketing and Sales Offices : |
W-204, Sunrise Chambers, #22, Ulsoor Road, Bangalore - 560 042,
Karnataka,
India Phone: 91-80-41477032 / 4147 7033 Fax: 91-80-4147 7031 E-mail:blr@unitransformers.com No. 23, 1st Floor, Pulliyur, 2nd Main Road,
Trustpuram, Kodambakam, Chennai - 600 024 Phone: 91-44-2472 4049 Fax: 91-44-2375 0379 E-mail: chennai@unitransformers.com No. 59/15, Satyam House, 2nd Floor, Kalkaji Extension,
Opposite Balaji Estate, New Delhi - 110 019,
India Phone: 91-11-4162 9332, 2628
6381 Fax: 91-11-4162 9331 E-mail: delhi@unitransformers.com 104, Shalimar Triumph, Telephone Exchange Road, Vimana Nagar Pune
- 411 014, India Phone: 91-20-2663 2909, 2663 2910 Fax: 91-20-2663 2911 E-mail: pune@unitransformers.com Plot No 114, Methodist Colony, Kundan Bagh,
Begumpet, Hyderabad- 500016. Phone: 91-40-66133025 Fax: 91-40-66133026 E-mail: hyderabad@unitransformers.com Cabin No-209, 2nd Floor, SCO 11A, Sector 7C, Madhya
Marg, Chandigarh – 160019 Phone: 91-172-4646406 Fax: 91-172-4646406 E-mail: chandigarh@unitransformers.com |
DIRECTORS
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Name : |
Mr. Dhruva Talwarkar |
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Designation : |
Director |
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Name : |
Mr. Virpaksh Gauda |
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Designation : |
Director [Non Resident Indian] |
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Name : |
Mr. Dwarkanath N |
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Designation : |
Director [Non Resident Indian] |
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Name : |
Virupaksha Gowda |
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Designation : |
Directors |
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Name : |
Venkat Yechuri |
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Designation : |
Directors |
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Name : |
Narendra Soorabathola |
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Designation : |
Directors. |
KEY EXECUTIVES
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Name : |
Mr. Ramchandra S. R. |
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Designation : |
Chief Executive Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Transformers. Design, manufacture, Sale and Services of Lager Power Transformers. |
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Products : |
Oil Filed Transformers Dry Type Transformers Reactors |
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Products : |
Transformers |
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Countries : |
Middle East and Sri Lanka , UK, Yemen |
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Exports : |
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Countries : |
Asia & Europe. |
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Terms : |
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Selling : |
Credit [30 days] |
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Purchasing : |
Credit [30 days] |
GENERAL
INFORMATION
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Suppliers : |
v Advance Control
Tech , India v Industrial
Rubber Works , India |
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No. of Employees : |
300 |
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Bankers : |
Bank of India Bangalore, Karnataka, India ICICI Bank Bangalore, Karnataka, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory Funds Based Limits Rs. 2.500 Millions Non fund Based Limits Rs. 2.000 Millinos Bank Gurantee Linit Ts . 1.500 Millions |
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Auditors : |
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Name : |
A Bhaskar & Co. |
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Address : |
Bangalore. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs . 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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178,726 |
Equity Shares |
Rs. 10 /-
each |
Rs.1787.260
millions. |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.787 |
1.787 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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3.045 |
2.598 |
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4] (Accumulated Losses) |
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0.000 |
(3.617) |
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NETWORTH |
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4.832 |
0.768 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.00 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.624 |
0.500 |
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TOTAL |
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5.456 |
1.268 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.663 |
8.047 |
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Capital work-in-progress |
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1.200 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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17.329 |
8.686 |
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Sundry Debtors |
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9.996 |
3.301 |
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Cash & Bank Balances |
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3.135 |
3.688 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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11.018 |
3.325 |
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Total
Current Assets |
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41.478 |
19.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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52.449 |
26.061 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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52.449 |
26.061 |
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Net Current Assets |
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(10.971) |
(7.061) |
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MISCELLANEOUS EXPENSES |
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0.564 |
0.282 |
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TOTAL |
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5.456 |
1.268 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover |
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164.530 |
53.161 |
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Total Income |
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164.530 |
53.161 |
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Profit/(Loss) Before Tax |
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4.306 |
(3.617) |
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Provision for Taxation |
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0.241 |
0.000 |
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Profit/(Loss) After Tax |
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4.065 |
(3.617) |
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Earnings in Foreign Currency : |
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Total Earnings |
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3.122 |
1.033 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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2.47 |
(6.80) |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.61 |
(0.06) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.10 |
(19.03) |
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Return on Investment (ROI) (PBT/Networth) |
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0.89 |
(4.70) |
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Debt Equity Ratio (Total Liability/Networth) |
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10.83 |
33.93 |
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Current Ratio (Current Asset/Current Liability) |
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0.79 |
0.72 |
LOCAL AGENCY
FURTHER INFORMATION
History:
Subject was originally incorporated in the year 2001 as Sole Proprietory
Concern in the name and style of ‘Universal Transformers’. The name was changed to the present.
WEBSITE DETAILS
MANUFACTURING :
Core Assembly:
The magnetic core is built up of laminated punched out high-grade coils. The
laminations have mitered ends and annealed to relieve mechanical stresses and
restore magnetic quality.
Universal Power Transformers has pioneered the practice of banding the core
together using a special process, and using epoxy to cure the assembly together
at the limbs and yoke region.
This results in-
Reduction in the no load losses by an additional 12%.
Reduction in the sound level by as much as 5 db.
Reduction in the overall size of the core so as to reduce the size of
the transformer.
Reduction in magnetizing current.
Core is available in various grades depending on loss specifications of
the customer. Universal Power Transformers has experience in designing and
procuring cores using all grades of electrical steel available (M4 to ZDKH).
Windings:
At the heart of the transformer are the Windings. The windings are made of
99.99% electrolytically pure annealed copper strips and insulated with kraft
paper for oil immersed transformers and enamel fibre glass cover for dry type
transformers.
The L.V. coils are transposed at the center to equalize resistance thereby
reducing circulating current losses and eliminating hot spots. Effective and
effective cooling is ensured by providing sufficient axial radial ducts for
coils. Tappings are provided on the H.V.side of the coils for tap variations
either onload or offload. The coils are stiffened with webbing cotton tapes to
withstand mechanical forces during short circuit conditions. Additionally, the
insulation scheme is made to withstand impulse voltages. These are very
important factors in the Indian electricity scenario as power fluctuations are
rampant across the country.
Additionally, we take care to minimize leakage reactance by maintaining equal
height of the H.V and L.V coils for amp turns balance.
Core Coil Assembly:
After the Windings and the core assembly are complete; the windings are
inserted on individual limbs of the core. This assembly is called the core coil
assembly, and is known as the "active part" of the transformer.
Tap leads are brought out from the windings after insertion on the core by brazing a multi-strand copper that is flexible are either insulated using kraft paper or by kraft crepe paper tubes.
The leads of the transformer are properly routed, run and secured to withstand the short circuit forces.
The entire assembly of core and coils are heated in the oven to ensure perfect removal of moisture and proper shrinkage. This enables the complete assembly to withstand normal operating forces in service and as mandated in the standards.
Tanks and Radiators
Tanks are made from
either hot rolled steel or CRCA sheets (In the case of corrugated tank
construction).They are made from sheet thickness varying from 5mm to 15 mm
(depending on the rating of the transformer).
Proper welding
ensures that the transformer tank is leak proof and able to withstand an
internal pressure of 7 PSI. The welding process is of high quality both in
material and skill conforming to ASTM standards. This helps to ensure the tanks
are leak proof for the life of the product.
As most transformers
are outdoor type, Universal Power Transformers shot blasts all transformer
tanks and ensures that primer is applied within 30 mts of shot blasting and
painting is done immediately thereafter. Additionally, all the inside surfaces
are coated varnish or lacquer. As per customer's request, Universal Power
transformers can paint the tank with an epoxy-based paint for saline or
corrosive atmospheres.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.43.15 |
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UK Pound |
1 |
Rs.85.22 |
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Euro |
1 |
Rs.57.63 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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