MIRA
INFORM REPORT
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Report Date : |
20.01.2007 |
IDENTIFICATION DETAILS
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Name : |
TERYAIR
EQUIPMENT PRIVATE LIMITED |
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Registered Office : |
Gala
No. 5, Rizvi Mahal, Waterfield, Bandra, Mumbai – 400050, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.12.2003 |
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Com. Reg. No.: |
11-143477 |
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CIN No.: [Company
Identification No.] |
U29130MH2003PTC143477 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT11028D |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of Pneumatic Pumps and Tools, Chisels and Accessories. |
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
20000 |
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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 : |
Gala
No. 5, Rizvi Mahal, Waterfield, Bandra, Mumbai – 400050, |
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Tel. No.: |
91-22-26411088
/ 26437966 |
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Fax No.: |
91-22-26459946
/ 26452358 / 26411088 |
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E-Mail : |
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Website : |
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Area : |
16000
sq. ft. |
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Location : |
Owned |
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Factory
1 : |
A – 1,
Tirupati Udyog Nagar, Vasai |
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Tel.
No.: |
91-250-2453803 |
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Fax
No.: |
91-250-2450693 |
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Area : |
16000
sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr.
Terence Valentine Dcunha |
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Designation : |
Director
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Address : |
603,
Laburnum, |
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Date of Birth/Age : |
07.11.1964 |
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Qualification : |
B.E.
Mech |
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Experience : |
24
Years |
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Date of Appointment : |
10.12.2003 |
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Name : |
Mr. Dierdre
Maryann Dcunha |
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Designation : |
Director
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Address : |
603,
Laburnum, |
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Date of Birth/Age : |
17.03.1966 |
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Qualification : |
B.E.
Mech |
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Experience : |
20
Years |
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Date of Appointment : |
10.12.2003 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
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No. of Shares |
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Mr.
Terence Valentine Dcunhab |
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5100 |
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Mr.
Dierdre Maryann Dcunha |
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4900 |
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Total |
|
10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Pneumatic Pumps and Tools, Chisels and Accessories. |
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Products : |
Pneumatic Diaphragm Pump 1" Pneumatic Diaphragm Pump 1-1/2" Pneumatic Diaphragm Pump 2" Pneumatic Diaphragm Pump 3" Other Pneumatic Pumps Pneumatic Needle Scalers Pneumatic Paving Breakers Pneumatic Grinders Pneumatic Chipping Hammers Scupper Plugs Hand tools and equipment Air Line Equipments Accessories for Pneumatic Tools Vacuum Cleaner Electrical Flexible Descaler |
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Brand Names : |
‘EDITOOL’
and ‘TERYAIR’ |
GENERAL INFORMATION
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No. of Employees : |
95 |
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Bankers : |
Karnataka
Bank Limited ICICI
Bank |
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Facilities : |
Rs.
8.500 Millions |
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Banking Relations : |
Satisfactory
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Auditors : |
Vinit
Rao and Associates Chartered
Accountants 116
Ambika Commercial Complex, Navghar, Vasai [West], Thane – 401210 |
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Tel. No.: |
95-250-2390701
/ 2390706 |
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Mobile No.: |
91-982008507 |
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Associates/Subsidiaries : |
Alpha Pneumatic Private Limited 4, 7,
Tirupati – Vasai – Thane Manufacturing
of Chisels and Accessories |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- each |
Rs 0.100 Millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- each |
Rs 0.100 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 |
0.100 |
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 |
5.998 |
2.937 |
0.010 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.098 |
3.037 |
0.110 |
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LOAN FUNDS |
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1] Secured Loans |
3.180 |
2.546 |
0.000 |
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2] Unsecured Loans |
4.389 |
4.263 |
0.279 |
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TOTAL BORROWING |
7.569 |
6.809 |
0.279 |
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DEFERRED TAX LIABILITIES |
0.212 |
0.178 |
0.000 |
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TOTAL |
13.879 |
10.024 |
0.389 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.520 |
4.455 |
0.012 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.469
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3.473 |
1.027 |
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Sundry Debtors |
7.751
|
6.234 |
0.216 |
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Cash & Bank Balances |
0.216
|
0.189 |
0.060 |
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Other Current Assets |
5.451
|
2.844 |
0.533 |
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Loans & Advances |
0.122
|
0.116 |
0.000 |
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Total Current Assets |
17.009
|
12.856 |
1.836 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
7.392
|
5.788 |
1.483 |
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Provisions |
3.269
|
1.517 |
0.000 |
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Total Current Liabilities |
10.661
|
7.305 |
1.483 |
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Net Current Assets |
6.348
|
5.551 |
0.353 |
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MISCELLANEOUS EXPENSES |
0.011 |
0.018 |
0.024 |
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TOTAL |
13.879 |
10.024 |
0.389 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
52.348 |
40.094 |
0.486 |
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Profit/(Loss)
Before Tax |
4.847 |
4.615 |
0.017 |
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Provision
for Taxation |
1.751 |
1.511 |
0.007 |
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Profit/(Loss)
After Tax |
3.096 |
3.104 |
0.010 |
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Total
Expenditure |
47.501 |
35.479 |
0.469 |
KEY
RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
5.91
|
7.74 |
2.06 |
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Net Profit
Margin (PBT/Sales) |
(%) |
9.26
|
11.51 |
3.50 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
19.76
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26.66 |
0.92 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.79
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1.52 |
0.15 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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2.99
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4.65 |
16.02 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.60
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1.76 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
Furniture
and Fixture
As Per Website
Teryair
Equipment Private Limited is a professional manufacturer of quality pneumatic equipment. Teryair
is an associate company of Alpha Pneumatics Private Limited that has
been forerunners in pneumatics for over 30 years.
Teryair
Equipment is
actively expanding its production programme and adds many new products are
added every year.
Research
& Development
They have
a state-of-the-art
Quality
Control
Their
ISO-9001 certified manufacturing processes ensure that each and every pneumatic
tool, accessory or consumable manufactured by the plant meets stringent quality
control measures that ensures that their products meet the high expectations of
buyers worldwide. Defects found during quality control are backtracked to the
originating processes so as to fine-tune the process to deliver consistent,
superioir quality products.
Infrastructure
Their
18,000 sq.ft. manufacturing plant is located in
Their
plant is fully equipped to produce superior quality, competitively priced
pneumatic tools, accessories and consumables with completely integrated
manufacturing processes including
Computer-Aided Design Center
Forging Department
Machining Stations
Heat Treatment Plant
Metallurgical Laboratory
Surface Treatment Station
Quality Control Department
Packaging and Dispatch
Customer
Support
Their main marketing office is well staffed and located in Mumbai city, and
serves as a hub to their worldwide sales and support network. Their factories
are in close proximity to the largest Indian sea port, so they are able to ship
goods without any delays.
|
Name of the company |
TERYAIR EQUIPMENT PRIVATE LIMITED |
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Presented By |
Jointly company and charge holder |
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1) Date and description of instrument creating the change |
Hypothecation
agreement dated 03.05.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
5.000 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 |
Stock
in trade Assignment
of bills receivables, bills of exchange etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin
to be maintained as stipulated by the bank form time to time. |
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5) Name and Address and description of the person entitled to the charge. |
The
Karnataka Bank Limited Bandra
[West] Mumbai
– 400050 |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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Name of the company |
TERYAIR EQUIPMENT PRIVATE LIMITED |
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Presented By |
Jointly company and charge holder |
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1) Date and description of instrument creating the change |
No
instrument was executed. Charge created on 03.05.2005 by way of equitable
mortgage by deposit of title deeds. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.
6.500 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 |
Immovable
properties of the company viz, four industrial galas numbered 102, 103, 104
and 105 situated on 1st Floor in the proposed new building complex
known as Tirupari Udyog Nagar Building, ‘A’, Village Waliv, Vasai, Thane |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Security
created in respect of DPH, Pre shipment and post shipment facilities
sanctioned as per resolution No. DGMR 6/2005-06 |
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5) Name and Address and description of the person entitled to the charge. |
The
Karnataka Bank Limited Bandra
[West] Mumbai
– 400050 |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.34 |
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|
1 |
Rs.87.61 |
|
Euro |
1 |
Rs.57.61 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
|
45 |
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/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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