MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
STAR TRACE PRIVATE LIMITED |
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Registered Office : |
No.1186, Thiruvallur High Road, M.A. Nagar, Red Hills, Chennai –
600052, Tamilnadu |
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Country : |
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Date of Incorporation : |
03.09.1998 |
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Com. Reg. No.: |
041085 |
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CIN No.: [Company
Identification No.] |
U51103TN1998PTC041085 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Magnetic Equipments, Vibratory
Equipments, Cashew Processing and Packing Machinery |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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/normal. |
Small |
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Maximum Credit Limit : |
USD 2080 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderated track. It’s
payments are slow to suppliers. Financial position is undetermined due to non
availability of financial details. It would be prudent to deal with the company for small to mediocre
business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
No.1186, Thiruvallur High Road, M.A. Nagar, Red Hills, Chennai –
600052, Tamilnadu |
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Tel. No.: |
91-44-26418456 / 9439 / 26323523 |
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Fax No.: |
91-44-26419439 / 24818340 |
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Area : |
1200sq.fts |
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Location : |
Owned |
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Factory: |
No.146 / 3, |
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Area : |
10000sq.fts |
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Location : |
Rented |
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DIRECTORS
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Name : |
Mr. P R Maheshwaran |
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Designation : |
Director |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
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Name : |
Mr. Parthiban Rasu |
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Designation : |
Director |
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Date of Birth/Age : |
58 Years |
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Qualification : |
Graduate |
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Experience : |
30 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. P R Maheshwaran |
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150 |
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Mr. Parthiban Rasu |
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150 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Magnetic Equipments, Vibratory Equipments,
Cashew Processing and Packing Machinery |
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Products : |
Magnetic Equipments include :- © Rare Earth Magnets © Alnico Magnet © Ferrrite Magnet © Therapy Magnet © Demagetizer © Magnetizer © Gauss Meter © Borewell Magnet © Magnetic Separator Roll © Suspended Magnet © Shifter Magnet © Oil skimmer © Magnetic Welding Clamps © Magnetic Sheet Fanner © Magnetic Rack © Magnetic Plate © Magnetic Links © Magnetic Floor Sweeper © Wet/ Magnetic Drum Separators © Magnetic Coolant Separators © Magnetic Chucks © Magnetic Hopper © Lifting Magnet © Hump Magnet © Funnel Magnet © Over Band Magnetic Separators © Circular Lifting Magnets © Antiscale Water Treatment Magnets © Magnetic Pulley Vibrating Equipments include :- © Vibratory Motors © Vibrating Feeders © Vibro Screen © Vibrating Table © Bin Vibrator © Screen Separator © Electro Mechanical Feeders © Electro Magnetic Feeders © Bump Testing Mechanical Feeders © Grizzly/Reciprocating Feeder © Vibrating Shifter © Vibrating Test Bed © Vibrating Tumpler Screening Machine © Vibration Meter © Vibratory Roller © Vibro Energy Finishing Machine © Test Sieve Shaker © Dewatering Feeders Other Equipments include :- © Mineral Water Processing and Packaging Systems © Ribbon Blenders © Destoner © Mixer © Pouch Packaging Machine © Computer Stationary and Printing Machine © Vessels © Reactors © Crushers © Machinery for Cashewnet Processing and Packaging the Multifeed ZD |
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Exports : |
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Products : |
Magnetic Equipments, Vibratory Equipments |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
98 (10 Office, 88 Factory) |
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Bankers : |
State Bank of Ambattur, Chennai 600 053, Tamilnadu |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Y Ramesh Babu and Company Chartered Accountants |
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Address : |
569, |
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Associates/Subsidiaries : |
©
Star Trace Engineering Division, Chennai Line of Business: Same ©
1 Engineering, Chennai Line of Business: Servicing of Engineering Equipments ©
Raja ViKram Tea, Chennai Line of Business: Retail and Wholesalers ABY System, Chennai Line of Business: Turnkey Project – Magnetic and Vibrating Equipments |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.10/- each |
Rs.0.150 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.10/- each |
Rs.0.150 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
No financial are available
since incorporation of the company from Registrar of Companies.
Management although promised several time to provide the financial and
latest details but failed to do so
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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30.11.2001 |
30.11.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.053 |
0.053 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.001) |
(0.001) |
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NETWORTH |
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0.052 |
0.052 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.052 |
0.052 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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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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Sundry Debtors |
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Cash & Bank Balances |
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0.048 |
0.048 |
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Other Current Assets |
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Loans & Advances |
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Total
Current Assets |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.000 |
0.000 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.000 |
0.000 |
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Net Current Assets |
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0.048 |
0.048 |
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MISCELLANEOUS EXPENSES |
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0.004 |
0.004 |
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TOTAL |
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0.052 |
0.052 |
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LOCAL AGENCY FURTHER INFORMATION
Company Details:
The
skills and capabilities in bulk material handling at subject are the result of 15 years of hard and intelligent work of
engineers and real-life learning, acquired while working on several projects
and magnetic equipment. Behind subject
proven knowledge base are carefully accumulated study and analysis of the shape
,dynamics and quantity management of various materials for projects such as
steel, cement, coal, chemicals, fertilizers and engineering industry.
DESIGN & ENGINEERING
A highly experienced team
of innovative design engineers equipped with a computer aided drafting station
and several software programs, many of which are specially developed. Modern
metal forming, cutting and welding processes backed by specialized machinery
constitute the manufacturing base and heavy fabrication facility of the subject
group.
MANUFACTURING
With
commissioning of its fourth and modern spacious manufacturing facility at Red
hills near Chennai, subject has
taken a big leap forward in meeting the requirements of bulk materials handling
projects in
PROJECT MANAGEMENT
Subject has set high standards of precision in fabrication,
erection, installation and all other activities at site. Modern techniques,
tools and liberal computer back-up are used to monitor quality, cost and
schedules to complete turnkey projects in time.
AFTER-SALES SERVICE
An efficient after sales
service for spares and maintenance is what sets subject apart. A repeat order from satisfied customers is one of
the secrets of subject rapid growth.
ABY Systems Provides the following
services with great quality and standard
- Cad Drafting & Designing
- Data
Processing
- Annual
Maintenance Contract
- Hardware
& Software Developments
- Web
Design & Hosting & Domain Registration
Cad Drafting & Designing
- Mechanical
Designing,
- Drafting,
& 3D Modeling Electrical Drafting
- Schematics
- Wiring
Diagrams
- "A"
Thru "E" Size Plotting, 8 color or Monochrome
- Plant &
Equipment layouts
Paper Drawing to
CAD Conversion Training Consulting
DATA PRCESSING
ABY
Systems the premier data entry and document management service company offering
a one stop solution to all your information processing needs. The company
specializes in state-of-the-art systems and technology to provide a
professional outsourcing service specializing in imaging, forms processing,
information and database and document management.
ABY
Systems will facilitate the preparation, capture, warehouse, retrieval and
utilization of information for an organization. Data processing is accomplished
by extracting information from a current or custom designed form, fax, catalog,
book, hcfa 1500 electronic media or an on-line entry system, while
simultaneously offering an internet based data entry and query service. This
service bureau for Time-Critical and Information Sensitive data alleviates the
need for onsite data entry personnel, OCR software and hardware while insuring
the almost integrity, accuracy and security.
ABY Systems is the most cost-effective and
efficient outsourcing alternative for any business in need of assistance with
managing their data work flow. Whether its an application, HCFA, UB92, credit
card application, survey, response cards. ABY Systems has the capabilities and
resources to handle any type or size of data capture project or assignment,
either short or long term.
ANNUAL MAINTENANCE CONTRACT
ABY Systems is an independent computer maintenance company offering
annual maintenance contracts and general support with a high degree of
specialisation in Windows NT, UNIX, SCO UNIX, NOVELL, Windows and MSDOS based
multi-user computer systems. In addition to maintenance contracts, ABY Systems
can also provide the following services:
Advice on upgrades,
additional terminals and remote communications.
Assistance with setting up
printers and other peripherals.
Installation and
re-location services.
Interfacing Windows PC's to
UNIX servers
Full network design, installation and
cabling service, covering Thin Ethernet, Thick Ethernet. Their experience and
knowledge of the UNIX multi user operating system enables them to provide a
complete service configuration, in the event of a system failure.
HARDWARE AND SOFTWARES DIVISION
Star
trace, is a Chennai (
Skill
Sets
They
have programmers and consultants having experience in one or more of the
following; WIN NT ,Oracle 7.x with DBA, Developer 2000 ,Visual Basic 5.0 with
ActiveX , MS SQL Server 6.5 with Administration . Internet Programming and
E-commerce (HTML, DHTML, Asp, Java, VJ++, JavaScript and VBScript) . Experience
in handling Web development Projects in the areas of B to B and B to C Portals.
Consulting
Star Trace has Several
consultants who are available to help you build, manage, & use Information
Technology to ensure your efficiency & business success!. Star Trace
consultants bring experience, expertise, and objectivity to the task of turning
advanced technologies into integrated business strategies. Their consultants
have experience in corporate IT decision - making, hardware, and software
development. At Star Trace, their consultants have one common goal; your total
satisfaction. They ensure quality results because they only hire quality
people! Their technical consultants are of the highest caliber, each with a
strong educational background and a high level of knowledge and experience.
They take pride in keeping themselves on the leading edge of their areas of
expertise. In addition, their consultants understand the business and economic
issues that impact your organization. By blending the realities of your
business with the capabilities of today's technology, they will develop the
most effective solution for you and your bottom-line!.
Project
Management
Their
Project managers want to help you on your next project!. They provide quality
project estimation proposals, system studies, and design. They can handle the
entire project on a turnkey basis, or they can simply provide a part of what
you need. If you need to know approximately how much a project will cost, send
them your Request For Proposal or RFP. If they have the specs, they can
generate several options for you. They can handle various types of project work
from conversions to totally new design. Star Trace can also work on your site,
off-site, or offshore. This allows them to provide you with different options
and cost saving measures. Their proposals can be generated based on a lump sum
figure or on a time-material basis.
Application Development
Star Trace has expert, experienced staff in various technologies. They use
rapid application development methodologies, CASE Tools, and object-oriented
programming techniques to shorten the development cycle. In particular, they
focus on developing client-server applications for most commercial relational
databases and related tools. They have experts in Oracle, Power Builder,
Informix, DB2, Sybase, SQL Anywhere, etc
System Integration
Star Trace can provide integration services for linking multi-vendor hardware
and software environments to form a streamlined, enterprise-wide information
system that is flexible, responsive and cost effective. In many organizations,
rapid growth is often accompanied by a proliferation of islands that are
isolated by incompatible technologies. Star Trace can help bring it all
together through integration, redesign and modification of your business
processes.
WEB DESIGN AND HOSTING AND DOMAIN
REGISTRATION
Web Creation
At ABY Systems, their experienced and competent web designers and programmers
are able to help you, individual or business, large or small, create your web
site for an affordable price. Your web site is the gateway customers will use
to learn about your products and services. The site can be a way for you to
communicate directly with your prospects and offer them solutions to their
needs.
It
is a way for new customers to contact your business directly, or for existing
customers to explore additional products that might interest them.
Features available:
- E-mail list
creation and management
- Product
description and detail pages
- Discussion
Groups
- Customer
Service facilities
- Their prices
reflect the ABY systems approach to low cost, high impact Internet services.
- From
informational sites designed to stimulate inquiries and establish a
presence, to full service e-commerce enabled retail sites designed to
provide immediate sales,
- their staff
can meet your needs and your budget.
- Each site is
different, and they can only quote after speaking with you to determine
your goals for your web site.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.40.70 |
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1 |
Rs.80.80 |
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Euro |
1 |
Rs.54.65 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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29 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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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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