MIRA
INFORM REPORT
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Report Date : |
12.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
KAMATH TRANSFORMERS PRIVATE LIMITED |
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Registered Office : |
B-124, 3rd Cross, Peenya Industrial Estate,
Bangalore-560058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.05.1996 |
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Com. Reg. No.: |
08-20512 |
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CIN No.: [Company
Identification No.] |
U31102KA1996PTC020512 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRK01420G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business of manufacture, production, processing, servicing
and consultancy dealing in all kinds of Distribution transformers, Special
type of transformers including Furnace, welding and Air cooled, epoxy
insulated transformers, instrument transformers, current and potential
transformers, A.C. and D.C. Generators, A.C. and D. C. Motors, rotary
converters, power and high tension metering sets, radiators, stamping. |
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 80000 |
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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
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 : |
B-124, 3rd Cross, Peenya Industrial Estate,
Bangalore-560058, Karnataka, India |
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Tel. No.: |
91-80-28392896/ 28391163 |
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Fax No.: |
91-80-28372027 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Katapadi Vishwanath Kamath |
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Designation : |
Director |
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Address : |
Shanti Laxmi No.1074, 8th Cross, 7th Block, I
Main, Vidyaranyapura, Bangalore-560097, Karnataka |
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Date of Birth/Age : |
04.03.1961 |
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Date of Appointment : |
23.05.1996 |
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Name : |
Mrs. Maya Vishwanath Kamath |
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Designation : |
Director |
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Address : |
Shanti Laxmi No.1074, 8th Cross, 7th Block, I
Main, Vidyaranyapura, Bangalore-560097, Karnataka |
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Date of Birth/Age : |
22.05.1968 |
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Date of Appointment : |
23.05.1996 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. K. Vishwanath Kamath |
181640 |
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Mrs. Maya V. Kamath |
127260 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business of manufacture, production, processing,
servicing and consultancy dealing in all kinds of Distribution transformers,
Special type of transformers including Furnace, welding and Air cooled, epoxy
insulated transformers, instrument transformers, current and potential
transformers, A.C. and D.C. Generators, A.C. and D. C. Motors, rotary
converters, power and high tension metering sets, radiators, stamping. |
GENERAL
INFORMATION
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Customers : |
v
Wind Mills v
Multistoried buildings v
Cement Industries v
Hotel Industries v
Textile / Spinning mills v
Steel Industries v
Power and APDRP Projects v
Granite Industries v
Electricity Boards v
Utilities v
Electricity distribution
companies v
Tourism Development
authorities v
Hospitals v
Mining v
Automotive Industry |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. N. Kollur & Company Chartered Accountants |
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Address : |
No.24, 4th Main Road, Malleswaram, Bangalore-560003,
Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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308900 |
Equity Shares |
Rs.10/- each |
Rs.3.089
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.089 |
3.089 |
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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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16.465 |
8.956 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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19.554 |
12.045 |
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LOAN FUNDS |
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1] Secured Loans |
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4.537 |
9.375 |
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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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4.537 |
9.375 |
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DEFERRED TAX LIABILITIES |
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0.218 |
0.197 |
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TOTAL |
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24.309 |
21.617 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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17.957 |
14.857 |
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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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15.038 |
8.937 |
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Sundry Debtors |
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13.651 |
28.518 |
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Cash & Bank Balances |
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20.665 |
7.749 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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11.620 |
3.125 |
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Total
Current Assets |
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60.974 |
48.329 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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47.200 |
37.882 |
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Provisions |
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7.422 |
3.687 |
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Total
Current Liabilities |
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54.622 |
41.569 |
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Net Current Assets |
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6.352 |
6.760 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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24.309 |
21.617 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.02 |
4.23 |
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Current Ratio (Current Asset/Current Liability) |
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1.12 |
1.16 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
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Name of the company |
KAMATH
TRANSFORMERS PRIVATE LIMITED |
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Presented By |
STATE BANK OF INDIA, Peenya
Industrial Estate Branch, Peenya Industrial Estate, Bangalore-560058 and
Kamath Transformers Private Limited |
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1) Date and description of instrument creating the change |
Date : 16.10.1996 General agreement for the grant of SIA and hypothecation of goods, book debts and other assets. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.700 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 |
Hypothecation for the whole of the present and future stocks, book debts, outstanding, money receivables, claims, bills and other movable assets belonging to the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest and a margin as applicable from time to time. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Peenya Industrial estate Branch Peenay Industrial Estate, Bangalore-560058 (A Banking Company) |
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6) Date and brief description of instrument modifying the charge |
Date : 20.01.2005 Supplemental general agreement of r the grant of SIA and Hypothecation of goods, book debts and other assets. Equitable mortgage, by deposit of title deeds- No instrument – Extension : letters enclosed- 3 Nos. Letter of hypothecation for machineries : Letter o f hypothecation for goods, book debts etc. (all the above pertain to the same charger) |
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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. |
By the above, the amount secured y the charge stands increased from Rs.14.500 millions to Rs.21.800 millions (C.C. Sts- Rs.3.500 millions, C.C. Book Debts- Rs.5.500 millions, MTL –Rs.1.500 millions, LC Rs.7.000 millions, BG Rs.3.000, Stand by Line of Credit Rs.1.300 millions). Rate of Interest : CC -1.5% above SBAR, Presently 11.75% per annum with monthly rests. Margin : 25% on RM/SFG/FG/LC/Receivables. Repayment : CC- on demand. MTL- As per old Form 08 and 13. Securities already obtained like current assets – socks, book debts, receivables etc. non current assets, other assets, other movables, machineries, mortgage on movable properties at (1) B-124, 3rd Cross, I Stage, PIE, Bangalore (2) B-71 2nd Cross, 1st Stage situate at Peenya Industrial Estate, Bangalore and the Company’s immovable properties situate at Shed No.A-155, 3rd Cross, I Stage, Peenay Industrial Estate, Bangalore-560058 to cover the entire credit facilities. (All other terms and conditions remain unchanged) |
Website Details :
Subject was started in the year 1994
with a mission to manufacture quality transformers, is fully equipped with the
infrastructure and personnel to manufacture transformers up to the range of 20
MVA, 110kV Class. The transformers are designed, manufactured and tested in
accordance to National and International Standards.
The Unit I & II are dedicated for manufacturing
Distribution Transformers up to 3000 kVA, 33 KV Class, where as Unit III
exclusively built for manufacturing Power Transformers of rating up to 20 MVA,
110 kV, Class.
The Power Transformer unit is fully equipped with most
modern state of art manufacturing and testing. The professionals managing the
Power Transformer plant are highly experienced in their respective areas of
operation like, Design, Manufacturing, Testing and Marketing.
The recent addition of 5 MVA,
66/11 kV Power Transformer was manufactured in a record time and was
successfully subjected to lightning impulse voltage withstand test at International
recognized independent laboratory viz, Central Power Research Institute,
Bangalore which has been exported to MAYANMAR.
Manufacturing Quality Product is an
art of manufacturing. Achieving Customer Satisfaction is the Mission of the
Manufacturer. Satisfying the customer is value addition to product. They at
Kamath Transformers are on continuous path of adding value to our product.
Products
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Classification |
KVA |
KV |
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Power Transformers. |
3000 – 20,000 |
11-66-33-110 |
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Distribution Transformers. |
25 – 3000 |
0.433-3.3-6.6-11-33 |
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Dry Type Transformers. |
Upto 1000 |
11
kV and Lower |
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Furnace Transformers. |
< 5000 |
upto 33 kV |
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Special Transformers |
As per customer requirement |
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Client List
v
Wind Mills
v
Multistoried buildings
v
Cement Industries
v
Hotel Industries
v
Textile / Spinning mills
v
Steel Industries
v
Power and APDRP Projects
v
Granite Industries
v
Electricity Boards
v
Utilities
v
Electricity distribution
companies
v
Tourism Development
authorities
v
Hospitals
v
Mining
v
Automotive Industry
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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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UK Pound |
1 |
Rs.85.27 |
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Euro |
1 |
Rs.58.24 |
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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