MIRA
INFORM REPORT
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Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
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Name : |
TAURUS POWERTRONICS SYSTEMS |
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Registered Office : |
6, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT01713F |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers, Exporters, Traders. Testing and Solution providers for
Power sector Instrumentation Products.
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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 60000 |
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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 concern having satisfactory
track. Partners are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments
are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
6, |
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Tel. No.: |
91-80-23327726 / 36, 23522136 |
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Mobile No.: |
91-9845129764 |
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Fax No.: |
91-80-23327736, 23429342 |
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E-Mail : |
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Website : |
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Area : |
16000 Sq. fts. |
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Location : |
Partly Owned and Partly Leased |
PARTNERS
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Name : |
Mr. Ravi Narayanan |
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Designation : |
Partner |
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Date of Birth/Age : |
45 years |
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Qualification : |
B. E. (Electric) |
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Experience : |
23 years |
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Name : |
Mrs. Gayatri Ravi Narayan |
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Designation : |
Partner |
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Date of Birth/Age : |
42 years |
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Qualification : |
M. Sc. (Statistics) |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters, Traders. Testing and Solution providers for Power
sector Instrumentation Products. |
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Products: |
v
Overhead Transmission Line Fault Analyzer System v
Line Fault Locator System v
Insulation Analyzer / Tester v
D/C Earth leakage Monitoring System v
Portable Earth D/C Fault Locator v
Power station Earth Measurement Instrument v
v
Thermal Camera |
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Exports to: |
Asian Countries (In Process) |
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Imports from: |
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Terms : |
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Selling : |
On Installation, Credit (15 days) |
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Purchasing : |
L/C, Credit (30 days) |
GENERAL INFORMATION
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Suppliers : |
©
Kris Energy Technology ( ©
Offic ( ©
Ion Signs ( |
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Customers : |
©
Power Grid Corporation Limited ©
All State Electricity Boards ©
Damodar Valley Corporation |
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No. of Employees : |
15 (Production / Technical: 10;
Other: 5) |
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Bankers : |
Bank of Rajajinagar, |
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Facilities : |
Rs. 20.000 millions (Cash Credit, Bank Guarantee) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s. Pandurang Shenoy and Associates Chartered Accountants |
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Address : |
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Memberships : |
v
I E E E v
CIGRE (France) v
E. G.G. |
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Agents / Representatives: |
Channel Partners countrywide |
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Associates/Subsidiaries : |
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Taurus Instruments (Private) Limited v
Taurus Enterprises v
Taurus Marketing Agents |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 15.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 15.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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60.000 |
55.000 |
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Profit/Loss for the year |
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Indicated around
10 % |
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Expected Sales (2007-08) : Rs. 100.000 millions
Average Value of Inventories at any given time: Rs. 5.000 millions
LOCAL AGENCY FURTHER INFORMATION
Business
Testing and Solution Providers for the Power Sector. Focusing on specified and customized superior
quality to sting instrumentation for the core sector of power, Defence and
communications other diversified activities of the group are into Industrial
Consumer Lubricants and Research and Development Software.
Website details attached
Profile
Subject, a division of the TAURUS group of
companies came into existence in the year 1989 with a vision to provide effective
technological solutions to the various projects undertaken. All such projects,
many of them customized & specialized projects, were conceived and
developed in-house from the Research and Development wing of Subject for their valued clients. One
such project work undertaken was for the core power sector - the development of
Fault Analyzers for EHT transmission lines. Maintenance staff of transmission
lines was plagued with the limitations of conventional equipment and were in
dire need for accurate, convenient and affordable instrumentation for the
purpose. Subject undertook
a field study of the various pros and cons in the methodologies and approaches
of routinely used procedures in addressing such problems. Finally, Subject embarked upon developing an
easy solution to fault locating nightmares. Developmental prototypes were
regularly field-tested and performance monitored. It was two long years of
intricate developmental work that their engineers undertook to achieve
successful creation of a product that truly addressed the needs of the
maintenance staff in fault locating. Today, as you read this, Subject has completed over two
hundred Fault Analyzers being installed all over the country - a pointer to the
triumph of indigenous technology and the faith of their valued users in their
products
Products
Taurus HD 1720 Apex-D Overhead Transmission Line Fault Analyzer System
Taurus EHT
1250 Max-2 'Digital EYE' Overhead Transmission Line Fault Analyzer System
Taurus EHT
1250 Max-1 Overhead
Transmission Line Fault Analyzer System Taurus EHT 1250 Faultrac-Max Overhead Transmission Line Fault
Locator System
Taurus EHT 775 Sigma-2A Overhead Distribution Line Fault Locator with
Analyzer
Taurus HT 775 Sigma-2 Overhead Distribution Line Fault Locator
Taurus OHMEGA IT Series Insulation Analyzer/Tester
Taurus DIGITRACE DC 415 Dedicated Continuous Sensing DC Earth Leakage Monitoring
System
Taurus
DIGITRACE DC 361P Series Portable Earth DC Fault Locator
Taurus PRECIOHM ET 46D Power Station Earth Measurement Instrument
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 41.01 |
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1 |
Rs. 81.74 |
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Euro |
1 |
Rs. 55.04 |
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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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