MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TRATEC ENGINEERS PRIVATE LIMITED |
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Registered Office : |
440, Kailash Tower II, East of Kailash, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.03.1995 |
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Com. Reg. No.: |
55 - 066563 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC066563 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT02026D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Hydraulic Modular Equipment. |
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 : |
USD 100000 |
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Status : |
Good |
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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. Trade relations are fair.
Financial position is good. Payments are usually correct and as per
commitments. The company can be considered good for any normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
440, Kailash Tower II, East of Kailash, |
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E-Mail : |
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Website : |
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Factory: |
Gurgaon, |
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Tel. No.: |
91-124-2267371, 2267372 |
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Fax No.: |
91-124-2267070 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Raman Anand |
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Designation : |
Director |
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Address : |
440, Kailash Tower II, East of Kailash, |
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E-Mail: |
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Name : |
Mr. Kamal Khosla |
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Designation : |
Director |
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Address : |
V-10/6, |
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Date of Birth/Age : |
20.01.1953 |
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Date of Appointment : |
21.03.1995 |
KEY EXECUTIVES
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Name : |
Atul Thapar and Company |
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Designation : |
Company Secretary |
SHAREHOLDING PATTERN
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Hydraulic Modular Equipment. |
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Products: |
v
Semi Trailers v
Modular Trailers v
Special Hydraulic Trailers v
Special Application products v
Miscellaneous Products and Accessories |
GENERAL INFORMATION
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No. of Employees : |
About 300 |
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Bankers : |
Indian Overseas
Bank Parliament Street
Branch, E-Mail: ropian@delsco.iob.co.in |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Khiwani and Company Chartered Accountants |
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Address : |
23/26, Second Floor, Main Market, East Patel Nagar, |
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Tel. No.: |
91-11-25714542, 25758388 |
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Fax No.: |
91-11-42481491 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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700000 |
Equity Shares |
Rs. 10.00 each |
Rs. 7.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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292020 |
Equity Shares |
Rs. 10.00 each |
Rs. 2.920
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.920 |
2.920 |
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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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22.736 |
14.287 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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25.656 |
17.207 |
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LOAN FUNDS |
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1] Secured Loans |
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50.385 |
23.473 |
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2] Unsecured Loans |
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7.878 |
6.833 |
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TOTAL BORROWING |
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58.263 |
30.306 |
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DEFERRED TAX LIABILITIES |
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3.618 |
1.915 |
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TOTAL |
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87.537 |
49.428 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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41.849 |
15.960 |
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Capital work-in-progress |
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3.989 |
2.943 |
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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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46.169 |
34.255 |
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Sundry Debtors |
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21.030 |
10.568 |
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Cash & Bank Balances |
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6.210 |
4.708 |
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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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11.248 |
8.353 |
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Total
Current Assets |
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84.657 |
57.884 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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39.353 |
25.903 |
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Provisions |
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3.605 |
1.580 |
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Total
Current Liabilities |
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42.958 |
27.483 |
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Net Current Assets |
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41.699 |
30.400 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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87.537 |
49.428 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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173.412 |
125.667 |
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Other Income |
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1.539 |
0.562 |
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Total Income |
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174.951 |
126.229 |
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Profit/(Loss) Before Tax |
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12.456 |
6.470 |
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Provision for Taxation |
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4.007 |
1.766 |
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Profit/(Loss) After Tax |
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8.449 |
4.704 |
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Export Value |
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1.172 |
3.021 |
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Imports : |
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Raw Materials |
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4.450 |
2.424 |
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Machinery Purchased |
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2.264 |
0.614 |
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Advance for Machinery |
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0.000 |
0.653 |
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Advance for Raw Material |
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0.377 |
0.000 |
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Total Imports |
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7.091 |
3.691 |
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Expenditures : |
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Total Expenses |
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155.667 |
116.518 |
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Financial Charges |
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5.129 |
2.174 |
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Depreciation |
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1.699 |
1.067 |
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Total Expenditure |
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162.495 |
119.759 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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5.06 |
3.73 |
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Net Profit Margin (PBT/Sales) |
(%) |
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7.18 |
5.15 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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9.85 |
8.76 |
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Return on Investment (ROI) (PBT/Networth) |
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0.49 |
0.38 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.95 |
3.36 |
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Current Ratio (Current Asset/Current Liability) |
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1.97 |
2.11 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
TRATEC ENGINEERS PRIVATE LIMITED |
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Presented By |
Indian Overseas Bank
and Tratec Engineers Private Limited |
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1) Date and description of instrument creating the change |
Agreement dated
20.02.1996 (Registered on 04.04.1996 (Modified upto
Rs. 13.259 millions on 24.11.2001) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 8.300
millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Raw Materials,
Work in Progress, Finished Goods, Sundry Debtors and Plant and Machinery. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest as per
bank Rules |
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5) Name and Address and description of the person entitled to the charge. |
Indian Overseas
Bank Parliament Street
Branch, |
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6) Date and brief description of instrument modifying the charge |
110E – Letter of
Hypothecation dated 26.08.2002 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The overall
credit limits secured by this charge is modified from Rs. 13.259 millions to Rs. 19.259
millions. The following are the particulars of modified credit Limit:
Interest /Commission
is chargeable at the rates as may to applicable from time to time. The charge
for Rs. 19.259 millions is secured by hypothecation of stocks of raw
materials, work-in-progress and finished goods of Axles / Trailors and all
other materials, sundry debtors, Plant and Machinery, entire Block Assets,
WDV as on 31.03.2001 Rs. 9.779 millions as well as current and fixed assets
to be acquired from time to time. Other terms and conditions remain same. |
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Corporate identity
number (CIN) Foreign company registration number |
U74899DL1995PTC066563 |
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Name of the
Company |
TRATEC ENGINEERS PRIVATE LIMITED |
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Address |
440, |
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This form is for |
Modification of
Charge |
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Type of Charge |
A charge on: v
Immovable
property v
Book
Debts v
Movable
Property (not being pledge) v
Others:
E.M. of Property, stocks, BD, Plant and Machinery, Current Assets and Fixed
Assets. |
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Particulars of
the charge holder |
Indian Overseas
Bank Parliament Street
Branch, E-Mail: ropian@delsco.iob.co.in |
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Amount secured by
the charge |
Rs. 94.740
millions |
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Nature or description
of the instrument(s) creating or modifying the charge |
F379C,
Confirmation Letter (Applicable for Limited Company Mortgagor) Evidencing
Creation of Supplemental Mortgage. |
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Date of
Instrument |
22.05.2007 |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
(a) Rate of
Interest Interest as per
Loan Agreements and Bank Norms (b) Terms of
repayment Repayment As per
Bank Norms (c) Margin:
Margin as per Bank Norms (d) Extent and
operation of the charge The charge
operates as continuing security inter alia, for the repayment by the company
to the Bank to the extent of Rs. 94.740 millions together with interest,
additional interest, liquidated damages, premium, on repayment costs, charges,
expenses and all other moneys payable by the company to the Bank in terms of
the loan agreements and Bank norms from time to time. (e) Others: E.M. of Property
at Plot Khewat 504/389 Min. Bellapa Road (Damdama Lake Road) Vill Bhondsi,
Tehsil, Sohna, District Gurgaon, Haryana, and First charge on Stocks, Debts,
Plant and Machineries, all other current and Fixed Assets of the Company both
present and future is to secure various credit facilities sanctioned to the
company to the extent of Rs. 94.740 millions. |
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Short particulars
of the property charged (including location of the property) |
E.M. of Property
at Plot Khewat 504/389 Min. Bellapa Road (Damdama Lake Road) Vill Bhondsi,
Tehsil, Sohna, District Gurgaon, Haryana, and First charge on Stocks, Debts,
Plant and Machineries, all other Current and Fixed Assets of the Company both
Present and Future. |
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Particular of the
present modification |
The Charge for
Rs. 94.740 millions is secured by extension of Equitable Mortgage of Property
at Plot Khewat 504/389 Min. Bellapa Road ( |
Website details attached:
Subject is perhaps the only company in this part of the world that is
continuously doing pioneering work in the field of “Trailer Technology”.
Starting with Running Gears, Under Carriages for tanker trailers, Car
Transporters and simple mechanical trailers to special purpose customized
products for defense and space programs, as well as introducing fully
indigenous “Hydraulic Modular Trailers” in the country. Subject is always ahead
with a specific innovative or customized transport solution for your special
transportation needs, at a reasonable cost, unmatched delivery and personalized
service which very few trailer manufacturers in the world would match.
Company
Subject was set up in mid 1995 near, Gurgaon (Haryana),
This technology driven company made rapid inroads into the industry in
First and foremost in High-End Transportation Technologies in
The company is today an approved supplier for Trailers for Defence,
Space, Power & other Infrastructure sectors in addition to the Commercial
Transport Industry.
Subject has to its credit the pioneering role of indigenously developing and
introducing high end "Hydraulic Modular Trailers" to the Indian
Transportation scene. In fact, they have the distinction of being the only
manufacturer of these special Multi - Axled Hydraulic Modular Trailers in
Subject has surely transformed the Indian Transportation Industry and put it on
a global reckoning. Thrust is on developing fully indigenous, technically
advanced Special Trailers incorporating the latest technology as an economical
yet technically suitable Product.
Products
“TRATEC started in 1995 with manufacture of “Running Gears” (under
carriages) single, tandem and Tri Axled for Tankers and Pressure Vessels. Due
to the vast experience of its promoters in the same industry new products and
categories were added constantly to the product range. Subject today offers the
complete range of Trailers to customers starting from standard, simple flat
beds to Hydraulic Modular Trailers for Over Dimensional or super heavy
payloads. It is today specifically recognized in India as a dependable and
experienced solution provider for handling of special and odd consignments by
the transport industry, infrastructure, Defense, Space, Power sectors etc. to
name a few.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.40 |
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1 |
Rs. 82.32 |
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Euro |
1 |
Rs. 55.77 |
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 |
NO |
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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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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