MIRA
INFORM REPORT
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Report Date : |
04.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TRANS TECH TURNKEY PRIVATE LIMITED |
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Registered Office : |
101, Mayfair Tower II, Wakdewadi, Shivaji Nagar, Mumbai – Pune Road, Pune – 411005, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.06.2002 |
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Com. Reg. No.: |
017079 |
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CIN No.: [Company
Identification No.] |
U29299PN2002PTC017079 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business of total turnkey including design, engineering, supply, installation and commissioning, testing of chemical plants, material handling plants, processing plants, gas or liquid process plants and projects on turnkey basis and to run pilot plant for the same. |
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 150000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade relations are fair. Payments are correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
101, Mayfair Tower II, Wakdewadi, Shivaji Nagar, Mumbai – Pune Road, Pune – 411005, Maharashtra, India |
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Tel. No.: |
91-20-24017884 |
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Fax No.: |
91-20-24017884 |
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Mobile No.: |
91-982274945 |
DIRECTORS
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Name : |
Mr. Chatterjee K. Suranjan |
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Designation : |
Director |
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Address : |
10-Prasanna 912 Shivaji Nagar, Pune – 411004 |
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Date of Birth/Age : |
27/10/1953 |
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Date of Appointment : |
25/06/2002 |
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Name : |
Mr. Pradhan V Ulhas |
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Designation : |
Director |
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Address : |
5-6 Anant CTS No. 120 6/A, Apte Road, Shivaji Nagar, Pune – 411004 |
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Date of Birth/Age : |
10/08/1951 |
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Date of Appointment : |
25/06/2002 |
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Name : |
Mr. Mujumdar M. Sugato |
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Designation : |
Director |
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Address : |
D Green Acres, Salunke Vihar Road, Kondwa, Pune-411048 |
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Date of Birth/Age : |
29/08/1956 |
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Date of Appointment : |
25/06/2002 |
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Name : |
Mr. Ghosh S. Alokendra |
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Designation : |
Director |
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Address : |
9-Marvel Residency, South Main Road, Koregaon Park, Pune – 411001 |
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Date of Birth/Age : |
01/01/1962 |
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Date of Appointment : |
25/06/2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Chatterjee K. Suranjan |
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200 |
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Mujumdar M. Sugato |
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200 |
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Pradhan V Ulhas |
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200 |
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Ghosh S Alokendra |
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200 |
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Ravindra Ghosh |
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200 |
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Total |
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1000 |
BUSINESS DETAILS
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Line of Business : |
Subject Designed and Installed various project : v
Diary v
Fruit Juice Plant v
Ice Cream Plant v
Brewery v
Combine Cycle Power Stations v
Thermal Power Stations v
Boilers v
Water Treatment Plant v
Furnace Oil Handling Plant v
Refinery Shut Downs, etc. |
GENERAL
INFORMATION
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Bankers : |
v ICICI Bank v Development Credit Bank Limited v State Bank of Patiala |
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Facilities : |
Vehicle Loan Rs. 2.542 Millions from ICICI Bank |
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Banking Relations
: |
Satisfactory |
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Auditors : |
AA Mehandale and Company Chartered Accountants |
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Address: |
776/B, Sadashiv Peth, Vishram Baug, Pune- 411030 |
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Group Companies
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 100 each/- |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 100 each/- |
Rs. 20.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
36.016 |
24.929 |
7.831 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
38.116 |
25.029 |
7.931 |
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LOAN FUNDS |
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1] Secured Loans |
27.313 |
1.663 |
2.542 |
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2] Unsecured Loans |
1.999 |
1.584 |
2.083 |
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TOTAL BORROWING |
29.312 |
3.247 |
4.625 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
67.428 |
28.276 |
12.556 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.551 |
11.855 |
8.548 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.550 |
1.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.369
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2.173 |
8.549 |
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Sundry Debtors |
123.330
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40.303 |
23.828 |
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Cash & Bank Balances |
5.148
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1.541 |
3.348 |
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Other Current Assets |
25.268
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9.633 |
4.024 |
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Loans & Advances |
44.591
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12.186 |
1.771 |
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Total
Current Assets |
201.706
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65.836 |
41.520 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
131.382
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38.424 |
35.997 |
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Provisions |
22.000
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12.000 |
1.515 |
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Total
Current Liabilities |
153.382
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50.424 |
37.512 |
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Net Current Assets |
48.324
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15.412 |
4.008 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.009 |
0.000 |
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TOTAL |
67.428 |
28.276 |
12.556 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
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Sales Turnover |
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118.938 |
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Other Income |
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0.000 |
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Total Income |
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118.938 |
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Profit/(Loss) Before Tax |
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7.799 |
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Provision for Taxation |
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0.978 |
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Profit/(Loss) After Tax |
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6.821 |
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Total Expenditure |
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111.138 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
N A
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N A |
5.73 |
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Net Profit Margin (PBT/Sales) |
(%) |
N A
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N A |
6.62 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
N A
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N A |
15.57 |
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Return on Investment (ROI) (PBT/Networth) |
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N A
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N A |
0.98 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.79
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2.14 |
5.31 |
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Current Ratio (Current Asset/Current Liability) |
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1.31
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1.29 |
1.10 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
Bankers Charges Report
as per Registry
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Name of the company |
TRANS TECH TURNKEY
PRIVATE LIMITED |
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Presented By |
Mr. Ulhas Vasant Pradhan |
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1) Date and description of instrument creating the change |
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2) Amount secured by the charge/amount owing on the securities of charge |
Total Rs. 20.000
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 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
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5) Name and Address and description of the person entitled to the charge. |
Development Credit
Bank Limited J M Road Branch,
Ground Floor, Near Central Park, Pune – 411 004 |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U29299PN2002PTC017079 |
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Name of the
company |
TRANS TECH TURNKEY PRIVATE
LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
101, Mayfair Tower II, Wakdewadi, Shivaji Nagar, Mumbai – Pune Road, Pune – 411005, Maharashtra, India |
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Type of charge |
Book Debts, Movable
Property (not being pledge) |
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Particular of
charge holder |
State Bank of
Patiala Atlanta, 1st
Floor, Jamnalal Bajaj Marg, Nariman Point, Mumbai 400 021, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
For Overall Limit
of Rs. 610.000 Millions Cash Credit
component: Rs. 70.000 Millions Corporate Loan: Rs.
40.000 Millions Bank Guarantee
and letter of credit (Letter of credit to the extent of Rs. 30.000 Millions
with in BG limit): Rs. 500.000 Millions |
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Date of
instrument Creating the charge |
19.06.2007 |
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Amount secured by
the charge |
Rs. 610.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
Terms of repayment Corporate Loan
will be repaid in 12 equal quarterly installments after a moratorium period
of four quarters. The first installment is due on 30th June 2008
and the last installment is due on 31st March 2011. Other terms of
as per the agreements and sanction letter Margin For Cash Credit:
Margin of 25% of Raw materials, Margin of 25% in stock in process and 50%
margin for receivables/ book debts For inland/
Import Letter of credit: 20% Cash Margin For Bank
guarantee: 20% Cash margin, 100% Cash Margin on Guarantee issued for disputed
matters. Extent operation of the charge As per the
agreement, charge will remain open till full repayment of principal and
interest. |
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Short particulars
of the property charged |
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Website Details
Attached:
Subject was incorporated under the Companies Act in June 2002 by a group of Technocrats. Each Director has had more than two decades of experience of working in Indian industry, in their individual field of specialisation. The Chief Executive of the company is a chartered engineer from U.K. and was involved in multi-disciplinary projects, practically all the globe.
The other Directors have successfully lead business units for multinationals
and have brought their professionalism together, to form a formidable team,
which is already posing competitive challenge to the established companies,
with their dynamism, total commitment to the agreed deliverables, rich
individual experience and up to date knowledge of what is happening around the
world.
Subject is on the way to achieve phenomenal growth. In the last eight months
since inception, the company has bagged orders from major international clients
like Sandvik Asia Ltd., Sandoz (Novartis), Brintons Carpet Asia Pvt. Ltd. and
leading Indian companies like Emcure Pharmaceuticals Ltd., Hindustan max-Gb
Ltd., Glenmark Pharmaceuticals Ltd.
Turnkey Projects
Designed and Installed
- Diary
- Fruit Juice Plant
- Ice Cream Plant
- Brewery
- Combine Cycle Power Stations
- Thermal Power Stations
- Boilers
- Water Treatment Plant
- Furnace Oil Handling Plant
- Refinery Shut Downs
HVAC Applications
Designed and Installed
- Animal House
- Super Thermal Power Station
- Control Rooms and Turbine Buildings
- Laminate Manufacturing
- HVDC Control Rooms and Rectifier Towers
- Consulate Buildings
- Combine Cycle Power Plant Control Room
- Automobile And Auto Ancillary Manufacturing Areas
- Textiles- Carding, Combing, Spinning and Weaving
- Cigarette Manufacturing
- Tube Railway Stations and Tunnels
- Pharma Industries-API, Solid Dosage and Injectables
- Clean Rooms for Pharma, Semiconductors & Hospitals
- Nutritional Food Plant
- Cable Tunnels and Material Handling Tunnels for Coal
- Semiconductor Manufacturing Facility
- Cold Storage
- Captive Power Plant and Turbo Charger Ventilator
- Offshore Accommodation Modules
- Ships
Electrical and
Automation Projects Designed and Installed
- Coal Handling Plant Conveyors for Power Plant
- Ship Loading / Unloading Cranes
- Dozing and Gantry Cranes
- Coke Oven Gas Controlling System for Reversing Process
- Stacker-Reclaimerfor Cement and Coal Handling Plant
- Off Shore HVAC and Fire Gas Control Systems
- HVAC BMS for Pharmaceuticals, Power Plant, Textiles and Semiconductors Manufacturing
- Gas Analysers for Coke Oven in Steel Plants
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.45 |
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UK Pound |
1 |
Rs. 81.12 |
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Euro |
1 |
Rs. 58.20 |
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 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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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49 |
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. |
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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