MIRA
INFORM REPORT
|
Report Date : |
25.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
HYDROPACK [INDIA] PRIVATE LIMITED |
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Registered Office : |
Plot No.19, Survey No. 323, Majgaon
Industrial Area, Udyambag, |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.09.1997 |
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Com. Reg. No.: |
08-22771 |
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CIN No.: [Company
Identification No.] |
U74140KA1997PTC022771 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRH02092G |
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PAN No.: [Permanent
Account No.] |
AAACH6182R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufactures
of Hydraulic
Equipments, Hydraulic Systems, Hydraulic Power Packs, Hydraulic Presses,
Hydraulic Bolt Tensioners, Pullers, Lifting Plat Forms, Linear
Actuators, Hydraulic High Pressure Cylindres for Customers Standard
& Special needs. |
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 40000 |
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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 and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are reported as
usually 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 / Factory : |
Plot No.19, Survey No. 323, Majgaon Industrial Area,
Udyambag, |
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Tel. No.: |
91-831–2442559, 442857 |
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Fax No.: |
91-831-2442658 |
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E-Mail : |
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Website : |
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Area : |
12200
sq. ft. |
DIRECTORS
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Name : |
Mr. Sudhir Darekar |
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Designation : |
Managing Director |
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Address : |
Janai Plot No. 28, S. No. 102/2, Bhagyanagar, VI Cross,
Belgaum – 590006, Karnataka, India |
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Date of Birth/Age : |
07.07.1961 |
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Date of Appointment : |
12.09.1997 |
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Name : |
Mr. Shrinivas Huddar |
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Designation : |
Chairman |
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Address : |
788, Ramaraman, S V Road, Chidambarnagar, Belgaum –
590006, Karnataka, India |
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Date of Birth/Age : |
15.11.1962 |
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Date of Appointment : |
12.09.1997 |
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Name : |
Mr. Maruti Patil |
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Designation : |
Director |
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Address : |
B. K. Kangrali Nehru Nagar, Goundwad, Belgaum – 590001,
Karnataka, India |
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Date of Birth/Age : |
01.06.1962 |
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Date of Appointment : |
12.09.1997 |
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Name : |
Mr. Raghuraj Jakati |
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Designation : |
Director (Finance &
Accounts) |
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Address : |
1329, Indira, Ramlinghindgalli, Belgaum – 590006,
Karnataka, India |
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Date of Birth/Age : |
20.07.1961 |
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Date of Appointment : |
12.09.1997 |
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Name : |
Mr. Ramkrishnan |
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Designation : |
Director |
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Address : |
HN 1943, Plot No. 65, Kaveri Nagar, Mandoli Road, Belgaum – 590006,
Karnataka, India |
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Date of Birth/Age : |
30.09.1957 |
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Date of Appointment : |
12.09.1997 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Shrinivas Huddar |
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1252 |
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Maruti Patil |
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1548 |
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Sudhir Darekar |
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1252 |
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Raghuraj Jakati |
|
656 |
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Ramkrishnan |
|
656 |
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Swati Huddar |
|
298 |
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Sneha Darekar |
|
298 |
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Total |
|
5960 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures
of Hydraulic
Equipments, Hydraulic Systems, Hydraulic Power Packs, Hydraulic Presses,
Hydraulic Bolt Tensioners, Pullers, Lifting Plat Forms, Linear
Actuators, Hydraulic High Pressure Cylindres for Customers Standard
& Special needs. |
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Product : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Actual
Production |
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Hydraulic Jacks from 5 T - 500
T |
Nos. |
|
500 |
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Hydraulic Cylinders |
Nos. |
|
500 |
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Hydraulic Power Packs |
Nos. |
|
150 |
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Hydraulic Presses |
Nos. |
|
30 |
GENERAL
INFORMATION
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No of Employees : |
25 |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
R. G. Pandit Chartered Accountants |
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Address : |
Kakatives Road, Opposite Sardar High School Road, Belgaum – 590001,
Karnataka, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5960 |
Equity Shares |
Rs. 100/- each |
Rs. 0.596
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.596 |
0.596 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
9.715 |
2.611 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
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10.311 |
3.207 |
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LOAN FUNDS |
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1] Secured Loans |
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2.967 |
3.181 |
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2] Unsecured Loans |
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1.778 |
1.612 |
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TOTAL BORROWING |
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4.745 |
4.793 |
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DEFERRED TAX LIABILITIES |
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0.018 |
0.077 |
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TOTAL |
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15.074 |
8.077 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.121 |
5.553 |
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Capital work-in-progress |
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0.000 |
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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4.021 |
2.641 |
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Sundry Debtors |
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10.179 |
3.902 |
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Cash & Bank Balances |
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6.551 |
3.853 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.330 |
0.713 |
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Total
Current Assets |
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21.081 |
11.109 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.799 |
8.025 |
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Provisions |
|
2.329 |
0.560 |
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Total
Current Liabilities |
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14.128 |
8.585 |
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Net Current Assets |
|
6.953 |
2.524 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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15.074 |
8.077 |
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KEY RATIOS
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PARTICULARS |
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|
31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
|
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1.83 |
4.17 |
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Current Ratio (Current Asset/Current Liability) |
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1.49 |
1.29 |
LOCAL AGENCY
FURTHER INFORMATION
Industry
Overview
Subject the group of young people of an organization
called Hydropack (India) Private Limited Grow through "Quality"
working together to produce a product or render a service. The company which developed such a breath of
vision for translating it into action will be the champions of tomorrow &
will be in a position to sustain excellence in all its true sense.
The company “Hydropack India” established in the year
1989 as a partnership firm later on due to the expansion of the unit the
partners decided to fleet the company into a Private Limited. Recently
Hydropack India is renamed as Hydropack (India) Private Limited, in the year 1997 is a leading
name in the field of hydraulic technology.
Certificate of registration enclosed.
The main object of the company is to provide quality
hydraulic & fluid power systems to cater the needs of the major industries
as per customer requirements, because of special types of the equipment’s the
same has been treated as import substitutes & export oriented was honored
by ministers of state & government
organizations. Continuos quest for innovations & for taking up challenges
has resulted in their strong research & development capabilities with the
help of designing aids like cad, & specially equipped hydraulic testing
facilities. This is the result of the company’s systems proved to be efficient.
Reliable, cost effective commitment to high quality & commercially feasible
solutions for tailor –made every requirement of all industries.
The frame of the company rest on its four pillars
viz. R&d engineering, quality control & marketing network & prompt
after sales services, through its R&D
efforts it has developed various hydraulic systems.
The company is backed with technical persons who
are involved in hydraulic line for major portion of their services. The quality
products developed by them to staggering range right from drawing board to
precision engineering with utmost attention to functional reliability for years
of satisfying performance backed by efficient & prompt after sales service
commitment with ready stock of essential spares off the shelves.
The Regd. Office & Works is located at, Plot
No. 19, Sy. No. 323, Majgaon Industrial Area. G.I.T. College Road, Udyambag,
Belgaum. The built up are of the factory is 12,200 sq.ft. with highly
productive well equipped machine shop & all the testing facilities. The
initial capital of the company was Rs. 0.298 Million & no wonder the
present turn-over is Rs.12.000 Millions, in the span of 10 years with total strength
of 25 employees
Import Substitute
They
have concentrated to manufacture import substitute items & with the help of
their research & development activities basically their most of the
products are custom built (Import Substitute) & as per specific requirements.
They now have people to develop products to meet the customer requirements
their Research & Development is a continuous process & the products
produced are based on customer requirements mainly Import substitute.
Having
the vast experience of more than a decade, while working with M/s. BEMCO JACKS
& ALLIED PRODUCTS have come across a number of various Hydraulic Equipment.
They have associated in designing & manufacturing of more than 4000
machines & systems working all over India & abroad.
From
manufacturing automobile Jacks to PSLV launching systems, they have designed
& manufactured various hydraulic equipments as an import substitute &
enjoy the market share. Visited almost all the major Industries of India &
visited Imtex-95 & 98 Exhibition in Delhi & participated in 1st
Fluid Power show at Mumbai in the year 1996 & learned the technologies of
the show & have appreciated as the Best display.
They have facility of CAD & all their designs are
prepared with the help of these computers & because of which they have
added the best Technological Data & better manufacturing inputs to develop
the following Import Substitute
1.
Bolt Tensioner
2.
Bowl Hub Removal fixture
3.
Hydraulic Torque Master
4.
Mechanical Track Jacks
5.
Hydraulic Systems
6.
Valve Body Test rig for M/s. Bajaj Tempo to test the Tractor valve bodies
And
many other equipment for various applications like Air-Craft Lifting Jacks,
Hydraulic Systems for Thermal Powers, Hydraulic Heavy duty (500Tonnes) Jacks
for Bridge constructions. Hydraulic Systems for Nuclear Power corporation &
Department of Atomic Energy. Developed Rubber Moulding Machine for compression
moulding for moulding automotive valves
Thus they have contributed to Nation by way of Import Substitute
Product
Profile
The unit is engaged in manufacturing of various hydraulic
equipment as per individual requirement. some of the major products as
standardised and listed bellow.
STANDARD PRODUCT RANGE
- Hydraulic presses - Workshop type,
"C" Type, Piller type, Closed frame etc.
- Remote controlled hydraulic Jacks standard and
non standard from 1-500 tons and upto 700 kg / cm.sq. working pr.
- The remote controlled hydraulic jacks double
acting from 1-500 tons
- Remote controlled hydraulic jacks Center Hole Type
from 1-100 tons.
- Hydraulic light weights series jacks from
5-200 tons.
- Hydraulic cylinders - Single / Double acting
will all types of mounting (custom built)
- Hydraulic Pullers and attachements
- Hydraulic flat Jacks and low height series
Jacks from 1-140 tons
- Hydraulic Hand Pump upto 1000 kg/cm.sq.working
pressure
- Hydraulic Power Packs Manual / Direction
control valve optd. / Solenoid optd. high pressures upto 650 kg / cm.sq.
HYDRAULIC SPECIAL EQUIPMENTS FOR
- Valve testing
- Plywood / Rubber moulding
- Load testing - Spun pipe, Concrete sleepers, Compression testing
- Pressure testing
- Gang operated Jacking systems for load movements.
SUCCESSFULLY DEVELOPED CUSTOM
BUILT PRODUCTS ARE
- Bowl Hub Removal fixtures : 800 tons for thermal power
- Hydraulic brake Assemblies : Single / Double acting for
hydro generators
- Hydraulic bolt tensioners : For Thermal power,
Cement and allied Industries
- Lifting Tables and Platforms : For heavy Engineering
Industries
- Hydraulic torque wrenches : Import substitute for
thermal power
- Hydraulic torque masters : Import substitute for
Tyre industries
- Telescopic gang operated jacks : For bridge constructions and
Railways
- Stand Systems :
For Bridge construction
- Hydraulic Power Packs : For marine Engineering and machine tools
Apart
from this in the year 1993 The company has got contract from SHAR Center,
Shriharikota to design manufacture commissioning of a hydraulic system for
Satellite / PSL V launching pad and the same was successfully
completed
All
these products have been regularly supplying to to giants in India as well as
abroad and because of Quality and Prompt After Sales Services all over
customers have repeated once executed orders.
Hydraulic
Equipments, Hydraulic Systems, Hydraulic Power Packs, Hydraulic Presses,
Hydraulic Bolt Tensioners, Pullers, Lifting Platforms, Linear Actuators,
Hydraulic High Pressure Cylinders custom built and as per ISO mounting.
The above
designed and developed products & systems have been successfully utilized
for numerous applications by OEMs and other Industries. The wide range of
Hydropack India Products finds applications in the following areas.
- Ship Construction
- Machine tools
- Chemical Industries
- Railways
- Rubber mouldings
- Wood Industries
- Thermal powers
- Refineries
- Tyre Industries
- Construction - Bridges
- Power Generation
- Automobile
- Civil Engineering
- Air-craft
- Material Handling
The Product range includes
·
'C' Type Press
·
Closed Frame Type
·
Four Pillar / Two Pillar
·
Rubber Moulding
·
Workshop Type
·
Bench Presses
·
Coil Curing Presses
- Tie Rod Construction / Welded Construction
- Front Flange Mounting
- Foot Mounting
- Both End Clevis
- Rear Flange Mounting
- Trunion Mounting
Hydraulic
Remote Controlled Jacks (Capacity 5 tons to 500 tons)
Track Jack
Spring Return Constructions
Double Acting Jacks
Centre hole Jacks (Hollow Plunger
Jacks)
Light Weight Jacks
Flat Jacks (Low Height Series Jacks)
Hydraulic Pullers
Hydraulic Hand Pumps
· Single
Plunger type
· Double Plunger type
· Double
Stroke Model
· Hydraulic Power Packs
Custom
Built Successfully Devl. Products as per Individual Specifications
· Hydraulic
Bolt/Stud Tensioner for Turbines, Boilers, Bowl Mills, Construction Sites, Ship
Yards.
· Hydromechanical
Rotac (Torque Master / Linear Actuator)
· Gang
Operated Jacking Systems for Railways, Constructional Bridges, Transformer
Lifting, Spun Pipe Testing, Concrete Sleeper Testing / Tensioning.
· Hydraulic
Brake Assemblies For Hydrogenerated Turbines
·
'HYJACK' Service Platforms for two
wheelers
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.49 |
|
UK Pound |
1 |
Rs.78.33 |
|
Euro |
1 |
Rs.56.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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. |
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 |
|