MIRA INFORM REPORT
|
Report Date : |
06.02.2007 |
IDENTIFICATION DETAILS
|
Name : |
ORBIT
EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
175
– B, Plassey Lane, Bowenpally, Secunderabad – 500011, Andhra Pradesh |
|
|
|
|
Country : |
India
|
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
19.09.1997 |
|
|
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|
CIN No.: |
U27109AP1997PTC028001 |
|
|
|
|
Com. Reg. No.: |
01-28001 |
|
|
|
|
TAN No.: (Tax Deduction &
Collection Account No.) |
HYDO00744C |
|
|
|
|
PAN No.: (Permanent Account No.) |
AAACO2404R |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer
of Material Handling Equipments |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12500 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject
is a well – established company having satisfactory track. Trade relations
are fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered
Office/Factory : |
175 – B, Plassey Lane, Bowenpally,
Secunderabad – 500011, Andhra Pradesh
|
|
Tel. No.: |
91-40-32504222/25501249/27817296/27810152/55456222 |
|
Fax No.: |
91-40-27742639/27813877 |
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E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr.
T K Kothandaraman |
|
Designation : |
Director
|
|
Address : |
103,
Seshirekha Apartment, Tirumal Giri ‘X’ Roads, Secunderabad – 500015 |
|
Date of Birth/Age : |
10.05.1961 |
|
Date of Appointment : |
19.09.1997 |
|
|
|
|
Name : |
Mr.
T R Kamakoti |
|
Designation : |
Director
|
|
Address : |
103,
Seshirekha Apartment, Tirumal Giri ‘X’ Roads, Secunderabad – 500015 |
|
Date of Birth/Age : |
1.03.1921 |
|
Date of Appointment : |
9.07.1999 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr.
T K Kothandaraman |
36020 |
|
Mr.
T R Kamakoti |
18010 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Material Handling Equipments. |
|
|
|
|
Exports to : |
South
Africa, Bangladesh |
|
|
|
|
Imports from : |
Europe
|
PRODUCTION STATUS
|
Particulars |
Unit |
|
Installed Capacity |
Actual Production |
|
Conveyors, Packing Machine |
MT |
|
100% Per Annum |
60% Per Annum |
GENERAL INFORMATION
|
No. of Employees : |
40 |
|
|
|
|
Bankers : |
v
Andhra Bank,
Industrial Finance Branch, Ameerpet, Hyderabad v
State Bank of
Hyderabad, R P Road, Bible House Branch, Secunderabad |
|
|
|
|
Facilities : |
Secured Loan: Andhra
Bank – Rs. 2.305 Millions |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
Ramu
& Ravi Chartered
Accountant |
|
Address: |
814,
Raghava Ratna Charag Ali Lane, Hyderabad – 500001 |
|
Tel. No.: |
91-40-23204877/23204498 |
|
Fax No.: |
91-40-23205653 |
|
|
|
|
Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 1.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
54030 |
Equity
Shares |
Rs. 10/- Each |
Rs. 0.540 Millions |
|
|
Shares
Application Money |
|
Rs. 0.600 Millions |
|
|
Total
|
|
Rs. 1.140 Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.140 |
1.140 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
2.087 |
1.649 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
3.227 |
2.789 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2.305 |
2.623 |
|
|
2] Unsecured Loans |
|
0.261 |
0.073 |
|
TOTAL
BORROWING
|
|
2.566 |
2.696 |
|
|
DEFERRED TAX LIABILITIES |
|
0.112 |
0.069 |
|
|
|
|
|
|
|
TOTAL
|
|
5.905 |
5.554 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
1.555 |
1.414 |
|
Capital work-in-progress
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
|
0.006 |
0.006 |
|
DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
6.188 |
11.380 |
|
|
Sundry Debtors
|
|
6.688 |
6.348 |
|
|
Cash & Bank Balances
|
|
1.142 |
0.519 |
|
|
Other Current Assets
|
|
0.043 |
0.000 |
|
|
Loans & Advances
|
|
1.190 |
1.185 |
Total Current Assets
|
|
15.251 |
19.432 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
10.077 |
14.845 |
|
|
Provisions
|
|
0.833 |
0.458 |
Total Current Liabilities
|
|
10.910 |
15.303 |
|
Net Current
Assets
|
|
4.341 |
4.129 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
0.003 |
0.005 |
|
|
|
|
|
|
|
TOTAL
|
|
5.905 |
5.554 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
|
25.837 |
35.570 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
0.813 |
0.880 |
Provision for Taxation
|
|
0.376 |
0.350 |
Profit/(Loss) After Tax
|
|
0.437 |
0.530 |
|
|
|
|
|
Total Expenditure
|
|
24.856 |
34.550 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
|
1.69 |
1.49 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
3.14 |
2.47 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
|
4.83 |
4.22 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.25 |
0.31 |
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
|
4.17 |
6.45 |
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
|
1.39 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
Operation
The
company had produced satisfactory result for the year. The sales have increased
from Rs. 32.700 Millions to Rs. 33.600 Millions and company had made profit of
Rs. 0.813 Millions before taxation for the year. However after adjustment of
the profit of the earlier years, the profit carried forward is Rs. 1.929
Millions
Fixed Assets
Plant
& Machinery
Office
Equipment
Furniture
& Fixture
Computer
Air
Conditioner
Electrical
Fitting and Equipment
Form 8 Particular
for creation or modification of charges
|
Name
of the company |
ORBIT EQUIPMENTS PRIVATE LIMITED |
|
Presented By |
Mr. T K Kothandaraman |
|
1)
Date and description of instrument creating the change |
Cash
Credit and Bank Grantee dated 4.10.2000 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
4.500 millions |
|
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 |
Hypothecation
of movable machinery Hypothecation
of Book debts Hypothecation
of stock, Raw Material, Fished Goods.
|
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
16.25%
rate of Interest |
|
5)
Name and Address and description of the person entitled to the charge. |
Andhra
Bank, Industrial Finance Branch, Ameerpet, Hyderabad |
|
6)
Date and brief description of
instrument modifying the charge |
12.4.2005
composite
agreement G
F G Agreement Counter
Guarantee form |
|
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. |
Cleen
bills purchase of Rs. 1.000 Millions has been sanctioned and interest rate is
deceased from 13% to 12.25% |
|
|
|
|
Name
of the company |
ORBIT EQUIPMENTS PRIVATE LIMITED |
|
Presented By |
Mr.
J Bastian |
|
1)
Date and description of instrument creating the change |
3.2.1998
Agreement of grant of small industries |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.500 millions |
|
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 |
Hypothecation
of stock or raw metrical, work in progress, finished goods Pledge
of machinery and equipment |
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
As
per agreement Machinery
– 25% |
|
5)
Name and Address and description of the person entitled to the charge. |
State
Bank of Hyderabad, R P Road, Bible House Branch, Secunderabad |
|
6)
Date and brief description of
instrument modifying the charge |
Not
Applicable |
|
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. |
Not
Applicable |
|
|
|
|
Name
of the company |
ORBIT EQUIPMENTS PRIVATE LIMITED |
|
Presented By |
Mr. T K Kothandaraman |
|
1)
Date and description of instrument creating the change |
4.10.2000
Hypothecation of movable machinery ,Book debts , stock, Raw Material, Fished
Goods. |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
4.500 millions |
|
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 |
Hypothecation
of movable machinery Hypothecation
of Book debts Hypothecation
of stock, Raw Material, Fished Goods.
|
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
16.25%
rate of Interest |
|
5)
Name and Address and description of the person entitled to the charge. |
Andhra
Bank, Industrial Finance Branch, Ameerpet, Hyderabad |
|
6)
Date and brief description of
instrument modifying the charge |
Not
Applicable |
|
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. |
Not
Applicable |
|
|
|
|
Name
of the company |
ORBIT EQUIPMENTS PRIVATE LIMITED |
|
Presented By |
Mr. T K Kothandaraman |
|
1)
Date and description of instrument creating the change |
Cash
Credit and Bank Grantee dated 4.10.2000 |
|
2)
Amount secured by the charge/amount owing on the securities of charge |
Rs.
4.500 millions |
|
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 |
Hypothecation
of movable machinery Hypothecation
of Book debts Hypothecation
of stock, Raw Material, Fished Goods.
|
|
4)
Gist of the terms and conditions and extent and operation of the charge. |
16.25%
rate of Interest |
|
5)
Name and Address and description of the person entitled to the charge. |
Andhra
Bank, Industrial Finance Branch, Ameerpet, Hyderabad |
|
6)
Date and brief description of
instrument modifying the charge |
16.10.2003
composite
agreement G
F G Agreement Counter
Guarantee form |
|
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. |
Cleen
bills purchase of Rs. 1.000 Millions has been sanctioned and interest rate is
deceased from 13% to 12.25% |
About Orbit
Subject was established in the year 1993 with a team of highly qualified
technical and management professionals with decades of experience in
manufacturing quality Conveyor System, Truck Loading System and various other
Material Handling Systems
In due course, Orbit diversified into development and manufacturing of Conveyor
Machine, Packaging Machines Like, Carton Sealing Machines, Stretch Wrapping
Machines, Case Packers, Case Erectors, Tray Former, Pick And place Systems and
Customized Packaging Systems.
Subject has been conferred with the Pacmachine '98 award by the Indian
Institute of Packaging the highest recognition for excellence in packaging
machinery design and development-in-India. Being a system provider, Subject
also imports Machineries and components from various countries for building end
of the packaging systems. To meet ever increasing demand and to cater to
various needs of customers, Subject has established a wide marketing and
services network across India.
Their Product Details:
Carton Sealing Machines
Semi - Automatic Machines
Automatic Machines
Case Packer
Hot Melt Systems
Shrink Packaging
Case Erector
Check Weigher
Unscrambler
Tray Former
Palletiser
Shrink & Other Machines
Carton Sealing Machines
Semi - Automatic Machines:
Uniform Size Cartons:
Manually adjustable for different carton sizes Ideal for Batch Production
Only bottom motorized belts
Top and bottom motorized
belts
Side motorized belts
Random sized cartons:
Top and bottom motorized
belts
Side motorized belts
Automatic Machines
Operator less machines
Automatically closes the top flaps of the carton Optional Hot melt heads
instead of self adhesive tapes
Uniform Size cartons
Random sized cartons
Case Packer
The case packers are designed
to suit the following :
Ø
Product to be packed
Ø
Required orientation of
the product
Ø
Matrix of the product
Ø
Speed
Ø Sealing, method
Hot Melt Systems
Ø
Idle for the application
of adhesives and thermoplastic material.
Ø
Tank capacity of 5 Kg to
100 Kg to cater to all types of applications.
Ø
Built-in microprocessor
based system with unique features.
Ø
Various modules and
combinations of guns.
Ø
Coating heads1or uniform
adhesive coating
Ø
Different models lengths
of thermo heated hose
Ø Accessories like photocell and encoder to integrate to
the existing line
Shrink Packaging
Ø
Transit Wrapping
Ø
Display Wrapping
Ø
Sleeve Wrapping
Ø
Various modules and
combinations of guns.
Ø
All round Wrapping
Ø To wrap with Polyolefin (PO) or PVC or Polypropylene
(PP)
Case Erector
Ø
Ideal for high volume
uniform sized carton packing
Ø
The case erector stores
flat cartons, open the cartons with suction vents, squares them, close the
bottom flaps and seals them with BOPP tape.
Ø Optional Hot melt head instead of self adhesive tape
dispenser
Check Weigher
Ø
Ideal for high volume
production lines
Ø
On -line weighing of
cartons
Ø
Built in rejection
mechanism for under / over weight
Ø
High accuracy upto 0.02
%
Ø Maximum speed upto 15 cartons per minute
Unscrambler
Ø
Speed -up to 200
containers per minute
Ø
Suitable for regular
shaped plastic containers
Ø
Suitable for center
mouth containers
Ø Optional feed hopper and elevator conveyor
Tray Former
Ø
Automatic formation of
trays up to 60 trays / min
Ø Various models available for different types of trays
Palletiser
Low level - for
low volume uniform size
High level - for high volume uniform size
Robotic type - for complex layer patterns and quick changeover
Shrink & Other Machines
Ø
Chamber Type Machines
Ø
Conveyor Machine
Ø
Semi -Automatic L
-Sealers
Ø
Automatic L -Sealers
Ø
Bundling Machines
Ø
Sleeve Wrapping Machines
Ø
Wrap Jet Machines
Ø
Semi -Automatic Mono
block Machines
Ø
Shrink Tunnels
Ø
Automatic Bundling
Machines
Ø
Automatic Sleeve
Wrapping Machines
Ø
Sleeve Wrapping with /
without Bottom tray
Ø
Collators & Bundlers
Ø
Special Purpose Shrink
Wrapping Machines
Ø Wrap Around Case Packers
Infrastructure
They have a fully equipped manufacturing facility that enables them to develop
any product within specified time frame and with high precision. Sophisticated
machine tools provide the finishing touches. Often feedback of their customers
is continuously collected, evaluated, and feasible improvements introduced as
quickly as possible.
Quality Maintenance
At Subject, a strict quality control
system in followed at every stage of the production process. This ensures the
products conform to International Standards. They also have the flexibility to
manufacture quality products tailor-made to suite specific requirements of the
domestic as well as overseas buyers. Their quality is the strong attraction for
their buyers and their equipments command good consumer acceptance.
Their Patrons
They
have strong client base that embraces small and big businesses. Their aim would
be to make their products competitive with excellent customer services and to
make their business, scale greater and greater heights both in domestic and
international markets. They have exporting links to Africa, Middle East and
SAARC Countries.
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.44.09 |
|
UK
Pound |
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.57.21 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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
|
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/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 |