MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION DETAILS
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Name : |
INDTECH SYSTEMS AND MANUFACTURING COMPANY PRIVATE
LIMITED |
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Registered Office : |
Plot No. 70/504, Sonwane Vasti, Talawadi Industrial Area,
Taluka – Haveli , Pune-411038, Maharashtra, India |
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Country : |
India |
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Financial As
On : |
31.03.2006 |
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Date of Incorporation : |
14.02.2001 |
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Com. Reg. No.: |
25-15873 |
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CIN No.: [Company
Identification No.] |
U30007PN2001PTC015873 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEI04072F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and selling of special purpose machines for
cosmetic and pharmaceutical industry |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
RATING
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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 25000 |
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Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. Trade
relations are fair. Payments are reported as correct and as per commitments. The company can be considered for small to moderate
business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Raja Jamdhar |
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Designation : |
Accountant |
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Contact No.: |
91-9326440020 |
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Date : |
21.08.2008 |
LOCATIONS
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Registered Office / Factory : |
Plot No. 70/504, Sonwane Vasti, Talawadi Industrial Area,
Taluka – Haveli , Pune-411038, Maharashtra, India |
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Tel. No.: |
91-20-7691977 |
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Fax No.: |
91-20-7691977 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. ft |
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Location : |
Rented (Independent shed) |
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Head Office : |
Gate No. 1567, Shelar Wasti, Survey No.439, Dehu Alandi Road, Chikali
Industrial Area, Pune – 412114, Maharashtra, India |
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Tel. No.: |
91-20-32660694 / 32660088 |
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Fax No.: |
91-20-27691138 |
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E-Mail : |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Subhash Kashinath Gore |
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Designation : |
Director |
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Address : |
Flat No.2 Shivprabhu Housing Society Bhusari Colony Poud Road, Kothrud, Pune -400038, Maharashtra, India |
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Date of Birth : |
15.12.1964 |
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Date of Appointment : |
14.02.2001 |
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Name : |
Mr. Santosh Krishna Patil |
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Designation : |
Director |
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Address : |
Flat No.20 Surashree Housing Society PLOT No. 56, “G”
Block MIDC Chinchwad, Pune-400019, Maharashtra, India |
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Date of Appointment : |
14.02.2001 |
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Name : |
Mr. Leeladhar Jagannath Warade |
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Designation : |
Director |
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Address : |
RH.143 Flat No. 1 Murli Housing Society, Shanu Nagar, G
Block, MIDC, Chinchwad, Pune-400019, Maharashtra, India |
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Date of Appointment : |
14.02.2001 |
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KEY EXECUTIVES
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Name: |
Mr. Sankaran |
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Designation: |
General Manager
(Sales and Planning) |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Leeladhar Jaganath |
12500 |
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Mr. Santosh Krishna Patil |
12500 |
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Mr. Subhash Kashinath Gore |
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AS ON 21.05.2006
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and selling of special purpose machines for
cosmetic and pharmaceutical industry |
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Products : |
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Exports : |
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Countries : |
Middle East countries, Germany Oman |
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Imports : |
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Countries : |
Germany |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
L/C and Credit (30 Days / 60 Days) |
GENERAL
INFORMATION
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Customers : |
Manufacturers |
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No. of Employees : |
15 [Factory 12 (including 4 design engineers and 8
fitters) and Office - 3] |
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Bankers : |
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Branch Address: |
Pimpri, Pune, Maharashtra |
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Facilities : |
The company does not enjoy any facility from its' banker |
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Auditors : |
Vinod S Toshniwala & Company Chartered Accountants |
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Address: |
5 Kunal Complex 422/1, Shivaji Nagar, Pune-411005, Maharashtra, India |
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Tel. No.: |
91-20-5534883 |
CAPITAL STRUCTURE
As On 21.05.2006
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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500000 |
Equity shares |
Rs.10/- Each |
Rs.5.000 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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5.000 |
2.500 |
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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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0.672 |
0.720 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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5.672 |
3.220 |
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LOAN FUNDS |
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1] Secured Loans |
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8.416 |
5.189 |
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2] Unsecured Loans |
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0.801 |
1.444 |
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TOTAL BORROWING |
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9.217 |
6.633 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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14.889 |
9.853 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.104 |
2.251 |
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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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0.085 |
0.085 |
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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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13.67 |
10.41 |
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Sundry Debtors |
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5.085 |
3.038 |
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Cash & Bank Balances |
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0.152 |
0.059 |
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Other Current Assets |
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0.601 |
0.230 |
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Loans & Advances |
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1.880 |
1.474 |
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Total Current
Assets |
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21.388 |
15.211 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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7.679 |
6.830 |
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Provisions |
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1.010 |
0.864 |
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Total Current
Liabilities |
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8.689 |
7.694 |
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Net Current
Assets |
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12.699 |
7.517 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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14.889 |
9.853 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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3.15 |
4.44 |
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Current Ratio (Current Asset/Current Liability) |
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2.46 |
1.97 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
Dr. Reddys Pharmacutical Limited – Hyderabad
Lupin Limited – Mumbai
Profile
IndTech Systems, started its operations in 2000, by sound experienced technocrats in the field of Special Purpose Machines. Sole purpose behind starting the Indtech Systems is to cater the Automation needs of packaging and innoative manufacturing techniques. The company is located at Talawade Industrial Estate Pune, Of the Pune - Mumbai National highway, 150km south east of Mumbai, Maharashtra State, India.
IndTech has ambitious vision to become a leading manufacturer of complete
range of special purpose machine, specifically required for pharmaceuticals
packing. The total commitments and manufacturing the machine, carrying Single
Source Responsibility for the Quality and complete satisfaction of customers.
IndTech System is fully supported by hands in experienced team of Engineers and
Professionals which got experience in technical and customer oriented services
for decades. Indtech has stared its successful journey towards the Goldern
Goal.
Indtech has already started meeting the requirement of complex packaging and
handling automation, of well-known pharmaceutical and cosmetic products
manufacturing companies.
IndTech has a full-fledged set up for manufacturing, at Industrial estate at
Talwade - Pune, with efficient manufacturing team with all necessary monitoring
and measuring devices.
IndTech's automation efforts are 100% value added, as it generates sufficient
cost saving in the production process. IndTech thoroughly understands
"INNOVATION" at the KEY to SUCCESS and radiates the benefits to all
its customers.
IndTech's burning desire is to build an excellent and strong record complete
customer satisfaction. IndTech has put its maiden step towards TQM by
initiating ISO 9000 certification processes.
IndTech always look forward for an enterprising business association with its
valued customers.
System
IndTech Systems, a
growing name in the field of special purpose machines, began its operation in
the year 2000. It has been established by top-notch technocrats with the aim of
providing excellent and complete range of special purpose machine, specifically
required for secondary and territory packaging lines.
IndTech believes in total commitment towards quality and working towards complete satisfaction to the fullest level of expectation of customers.
To meet their aim, IndTech has a full-fledged set-up that is backed by
efficient manufacturing team having all necessary monitoring and measuring
devices.
The factory is conveniently located at Chikhali Industrial Estate, off
Pune-Mumbai National highway, 150 km south east of Mumbai, in the State of
Maharashtra, India.
In a short time, IndTech has made a mark for itself in meeting the requirements
of complex packaging as well as automation needs of well-known Pharmaceutical,
Cosmetic and Switchgear products manufacturing companies. IndTech's efforts on
automation makes a definite value addition, as it cuts down cost and increase
efficiency of the production process. IndTech thoroughly understands
"INNOVATION" as the KEY to SUCCESS and radiates the benefits to all
its clients.
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 |
|
US Dollar |
1 |
Rs. 43.58 |
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UK Pound |
1 |
Rs. 81.43 |
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Euro |
1 |
Rs. 64.52 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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38 |
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. |
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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