MIRA
INFORM REPORT
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Report Date : |
26.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
STANDARD TRANSFORMERS PRIVATE LIMITED |
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Registered Office : |
Plot No.95, Gidccanacona Industrial Estate, Canacona, South Goa, Goa- 403702,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.07.2001 |
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Com. Reg. No.: |
24-003001 |
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CIN No.: [Company
Identification No.] |
U31102GA2001PTC003001 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS14640D BLRS14639C |
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PAN No.: [Permanent
Account No.] |
AADFS9262M AAHCS3136R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Various Kinds of Transformers. |
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 6000 |
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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 well-established and reputed company having satisfactory track
records. 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 dealing at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No.95, Gidccanacona Industrial Estate, Canacona, South Goa, Goa-
403702, Maharashtra |
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Tel. No.: |
91-824-2496126 / 832-2633265 |
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E-Mail : |
info@standardtransformers.com |
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Website : |
http://www.standardtransformers.com |
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Head Office : |
P.B. No. 782, 3rd Floor, Ibrose Complex, M.G. Road,
Kodialbali, Mangalore – 575003,
Karnataka |
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Tel. No.: |
91-824-2496126 / 2492534/ 2492298 |
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Fax No.: |
91-824-2496126 / 2492534/ 2492298 |
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Branches : |
Plot No.32, Shivali Industrial Area, Manipal – 576104, Karnataka,
South India |
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Tel. No.: |
91-820-2574158 / 4290108 |
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Fax No.: |
91-820-2574158 / 5290108 |
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E-Mail : |
info@standardtransformers.com |
DIRECTORS
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Name : |
Dr. Sadananda B. |
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Designation : |
Managing Director |
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Address : |
Flat No. 802 9th Floor, Sanjay Aparments, Shivabagh Kadri,
District Dakshina Kannada,Mangalore- 575002, Karnataka |
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Date of Birth/Age : |
01.11.1958 |
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Date of Appointment : |
25.07.2001 |
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Name : |
Dr. Ashitha Sadananda |
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Designation : |
Director |
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Address : |
Flat No. 802 9th Floor, Sanjay Aparments, Shivabagh Kadri, District
Dakshina Kannada,Mangalore- 575002, Karnataka |
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Date of Birth/Age : |
27.01.1966 |
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Date of Appointment : |
25.07.2001 |
KEY EXECUTIVES
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Name : |
Mr. Chetan Nayak K |
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Designation : |
Company secretary |
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Address : |
No. 40C, 1st Floor,
Yenepoya Mall, Kadri, Mangalore- 575
003 |
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Tel No: |
91-824-2448727 |
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Fax No: |
91-9845162627 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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1. Dr. B Sadananda |
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9300 |
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2. Ashitha Sadananda |
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2325 |
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Total |
11625 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Various Kinds of Transformers. |
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Products : |
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GENERAL
INFORMATION
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Customers : |
·
Crompton Greaves Limited Switchgear Complex,
Nashik ·
Crompton Greaves Limited Engineering And
Projects Division, Chennai · Karnataka Power Corporation Limited
(KPCL)
·
Karnataka Power Transmission Corporation
Limited (KPTCL) ·
Mescom ·
Mangalore Refinery and Petrochemicals
Limited (MRPL/ONGC) ·
Kudremukh Iron Ore Company Limited
(KIOCL)
·
New Mangalore Port Trust (NMPT) ·
Hindustan Zinc Ltd, Visakhapatnam
·
Bombay Suburban Electric Supply (Reliance
Energy) ·
National Mineral Development Corporation, ·
Corporation
Bank ·
State Bank of India ·
KGN Tumkur ·
Hindustan Petroleum Corporation Limited ·
RTPS Shakti Nagar, raichur ·
Electricity department, Government of
Goa ·
L& T Cement ·
L&T , ECC Division Other Private Customer : ·
Ulka Sea Foods Private Limited, Goa. ·
Tulya Food Products Private Limited
Trichirappalli. ·
Bihas Electro Metals Private Limited ·
Patna Technoplast Industries, Mumbai ·
Tribrite Platers, Mumbai ·
The Regal Cobrite, Mumbai ·
National Hardchrome Platers, Mumbai ·
Bhandary Power Lines Manipal & Ponda ·
Ramky Constructions, Hyderabad. ·
VN Makne, Lathoor. ·
Ideal Casement - Nairobi (Kenya) ·
Ashoka Plastic Factory L.L.C, Sharjah
(U.A.E) ·
Lotus Impex, Nigeria |
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Bankers : |
· Corporation Bank Murida Branch, Cuncolim, Salcette, Goa, · Manipal Co-Operative Bank · Canara Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
I V Sharma and Company Chartered Accountants |
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Address : |
1st Floor, Nalpad Building, Kadri, Mallikatta, Mangalore – 575 003 |
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Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised Capital :as on 31.03.2005:-
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No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Share |
Rs.100/- Each |
Rs.1.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
11625 |
Equity Share |
Rs.100/-
Each |
Rs.1.162
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.982 |
1.162 |
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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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2.042 |
2.662 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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5.024 |
3.824 |
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LOAN FUNDS |
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1] Secured Loans |
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3.048 |
3.052 |
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2] Unsecured Loans |
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8.612 |
0.265 |
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TOTAL BORROWING |
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11.660 |
3.317 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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16.684 |
7.141 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.636 |
3.756 |
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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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0.189 |
0.010 |
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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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25.026 |
7.486 |
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Sundry Debtors |
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4.850 |
7.905 |
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Cash & Bank Balances |
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1.732 |
0.969 |
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Other Current Assets |
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0.851 |
0.038 |
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Loans & Advances |
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4.488 |
0.422 |
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Total
Current Assets |
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36.947 |
16.820 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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26.088 |
13.451 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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26.088 |
13.451 |
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Net Current Assets |
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10.859 |
3.369 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.016 |
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TOTAL |
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16.684 |
7.141 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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31.503 |
32.607 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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31.503 |
32.607 |
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Profit/(Loss) Before Tax |
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0.786 |
0.640 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.786 |
0.640 |
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Expenditures: |
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Depreciation & Amortization |
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0.207 |
0.000 |
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Total Expenditure |
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0.207 |
0.000 |
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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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2.49 |
1.96 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.49 |
1.96 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.84 |
3.11 |
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Return on Investment (ROI) (PBT/Networth) |
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0.15 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.51 |
4.38 |
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Current Ratio (Current Asset/Current Liability) |
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1.41 |
1.25 |
LOCAL AGENCY FURTHER
INFORMATION
Form No. 8
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Name of the
company |
STANTDARD TRANSFORMERS PRIVATE LIIMTED |
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Presented
By |
NA |
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1) Date and
description of instrument creating the change |
Agreement for Hypothecation of book. Debts
Dated 26.07.2003 Hypothecation of Goods to Secure Demand Cash
Credit Dated 26.07.2003 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.500 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 |
Stock in Trade Book Debts with 25% Margin Factory Land and building along with
existing Plant and Machinery. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of Interest: 12.50% P.A. Monthly Euro pounding @ 12.37% P.A. No Drawings Against Book Debts. |
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5) Name and
Address and description of the person entitled to the charge. |
Corporation Bank. Murida Branch Cuncilim, Salcette, Goa |
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6) Date and brief description of instrument
modifying the charge |
Supplemental Deed of hypothecation of Book
Debts Dated 20.06.2004 for Rs.18.500 Millions |
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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. |
Enhancement of Cash Credit Limit of
Rs.16.000 Millions To Rs. 18.500 Millions |
Company
Profile :
Subject is an ISO 9001
: 2000 certified unit engaged in the manufacture of various kinds of
Transformers. Established by 3 technocrafts; the first unit started
production at Plot No. 32, Shivalli Industrial Estate Manipal 576104,
Karnataka, India during the year 1988. The Second Unit located at Plot
No. 95, GIDC Industrial Estate, Cancona, South Goa, India has commenced
production during the year 2002.
Distribution and
Power Transformers of 11 KV, 33 KV, 66 KV and 110 KV class manufactured by us
are type tested at CPRI. They have supplied Distribution Transformers,
Power Transformers, Dry Type Transformers, Furnace Transformers, Lighting
Transformers, Isolation Transformers, Booster Transformers, Special Purpose
Transformers and DC rectifiers to various organizations. Our team is
fully geared to execute turnkey projects like substations upto 132 KV
class. They also undertake repair and redesigning of Power transformers.
The Business as Manufacturer, designer, Processors, buyers, Sellers, and Dealers or otherwise deal in all types of electrical power and distribution transformers, rectifiers, dry type transformers, isolation transformer, auto rectifiers, special purpose transformer, unitized substation and kiosks, electrical switchargears and automatic voltage regulators.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions between
a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.59 |
|
UK Pound |
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.58.14 |
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 |
NO |
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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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