MIRA
INFORM REPORT
|
Report Date : |
25.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNITRON ENERGY SYSTEM PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
Unitron Systems |
|
|
|
|
Registered Office : |
S No. 235/ A/2 Sanjay Parkplot No. 25, Lohegaon Road, Pune-411032,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
25.08.1995 |
|
|
|
|
Com. Reg. No.: |
11-92173 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U40109MH1995PTC092173 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEU00350A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Installer of Small Wind Energy and Wind Solar Hybrid Systems. |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 49000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having fine track.
Trade relations are fair. General financial position is good. Business is active.
Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office/ Factory : |
S No. 235/ A/2 Sanjay Parkplot No. 25, Lohegaon Road, Pune-411032,
Maharashtra, India |
|
Tel. No.: |
91-20-26684399/ 26687006 |
|
Fax No.: |
91-20-26687006 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Rama Pallavallu |
|
Designation : |
Director |
|
Address : |
Rh No. 06, Hermes Heritage, Phase 2, Nagar Road, Pune-411006,
Maharashtra, India |
|
Date of Birth/Age : |
13.05.1964 |
|
Date of Appointment : |
25.08.1995 |
|
|
|
|
Name : |
Mr. Ravindranath Pallavallu |
|
Designation : |
Director |
|
Address : |
Rh No. 06, Hermes Heritage, Phase 2, Nagar Road, Pune-411006,
Maharashtra, India |
|
Date of Birth/Age : |
09.10.1959 |
|
Date of Appointment : |
25.08.1995 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on16.08.2005
|
Names of Shareholders |
|
No. of Shares |
|
Rama Pallavallu R |
|
5109 |
|
Ravindranath Pallavallu R |
|
4909 |
|
P Ravindranath (HUF) |
|
1 |
|
Total |
|
10019 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Installer of Small Wind Energy and Wind Solar Hybrid Systems. |
|
|
|
|
Brand Names : |
UNITRON |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
18 |
|
|
|
|
Bankers : |
Union Bank of
India, Agakhan Palace Branch, Pune |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
E.S Venkataraman Associates Chartered Accountant |
|
Address : |
269, Mahatma Gandhi Road, Pune-411001, Maharashtra, India |
CAPITAL STRUCTURE
As on 17.07.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10020 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.734 |
8.054 |
6.230 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.834 |
8.154 |
6.330 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.158 |
0.360 |
|
|
2] Unsecured Loans |
2.537 |
3.085 |
3.470 |
|
|
TOTAL BORROWING |
2.537 |
3.243 |
3.830 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.371 |
11.397 |
10.160 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.326 |
1.569 |
1.054 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.280 |
2.955 |
1.755 |
|
|
DEFERREX TAX ASSETS |
0.182 |
0.078 |
0.038 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.602
|
2.977 |
2.987 |
|
|
Sundry Debtors |
6.641
|
4.911 |
3.281 |
|
|
Cash & Bank Balances |
3.259
|
4.746 |
4.088 |
|
|
Other Current Assets |
0.350
|
0.315 |
0.123 |
|
|
Loans & Advances |
5.445
|
2.985 |
0.680 |
|
Total
Current Assets |
18.297
|
15.934 |
11.159 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
8.830
|
8.229 |
3.633 |
|
|
Provisions |
0.884
|
0.910 |
0.213 |
|
Total
Current Liabilities |
9.714
|
9.139 |
3.846 |
|
|
Net Current Assets |
8.583
|
6.795 |
7.313 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.371 |
11.397 |
10.160 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
Sales Turnover |
|
37.152 |
37.080 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
37.152 |
37.080 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
2.401 |
2.680 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
2.401 |
2.680 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
|
14.294 |
25.574 |
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
|
0.421 |
0.421 |
|
|
Other Expenditure |
|
34.330 |
33.979 |
|
Total Expenditure |
|
34.751 |
34.400 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
6.46
|
7.23 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.46
|
7.23 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.24
|
15.31 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.33 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.25
|
1.52 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.74 |
2.90 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
UNITRON ENERGY SYSTEM PRIVATE LIMITED |
|
Presented By |
Mr. Ravindranath,
Director |
|
1) Date and description of instrument creating the change |
Dated 06.06.2003 Hypothecation
agreement Debts |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.500 Million |
|
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 of
Solar Energy items along with Book Debts |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1. First charge
on the Goods and Debts. 2. Extent of
Charge- Rs. 0.500 @ 14.5% p.a. with monthly on the amount of advances for the
time outstanding 3. Type of
facility- working Capital requirements. |
|
5) Name and Address and description of the person entitled to the charge. |
Union Bank of
India, Agakhan Palace Branch, Pune |
|
6) Date and brief description of instrument modifying the charge |
N.A |
|
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. |
N.A |
AS PER WEBSITE
Profile:
Subject formerly
'UNITRON SYSTEMS', established
in 1987, today boasts of an impressive growth rate from the start. With the
growth in the products and Capacities Company changed its name to UNITRON
Energy Systems Private Limited, as it is now known.
The main strength of the company is manufacturing and
development of various types of New Generation Power Conditioning & Power
Conversion equipment such as U.P.S., DC-DC Converters, Inverters, and Charge
Regulators etc.With the expertise of Mr.P.Ravindranath - Director and
experience of Mr.G.K.Rao - Technical Consultant, few years back the Company
diversified into foray of Renewable Energy Systems, which is still at a nascent
stage in the country, especially the concept of 'MICRO WIND'.
The company has full-fledged facility at to manufacture of
Wind Generators ranging from Roof Top 400 watts up to 3.3 K.W. and hybrid
systems up to 20 K.W. in association with well-known World Power Technologies
U.S.A. (now Southwest Wind Power).
To compliment the above product range 'UNITRON' also started
manufacturing energy Efficient Street Lighting systems with record lumen
efficiencies touching 200 lumens/w. The lamp systems are available in 35W, 55W
& 90W ranges with 5400, > 10000 & > 18000 lumens respectively.
Unitron is also known as BOS specialist, host of
controllers, loggers, optimizers, etc., are manufactured for various
applications of renewable energy technologies
Breakthroughs and competitive strengths
- Subject is
one of the first small-scale enterprise recognized by MNES (Ministry of nonconventional
energy) to manufacture "wind - solar " hybrid systems under
their special program.
- Subject is
installed capacities exceed 220KW till date spread over 65 sites in
different states of India. About 75KW worth orders in hand.
- Subject was
selected by IT Power for electrification of an "island" of the
coast of Pondicherry through use of wind-solar hybrid system . This
project was completed in August 2001 and till dated has proved 100%
availability.
- Subject is
selected by Govt. of GOA for electrification of three sites (25 kW ) which
include "Official Residence" of the Chief Minister of GOA state.
These Projects were completed in record time of 5 Weeks !!
- Subject
successfully convinced local govt. like " Corporation of PUNE"
for utilization of hybrid systems in public places like Parks, Pune Snake
park can now boast of having a 4.65 kW hybrid system which is powering 35
streetlights, 40 garden lights and 2 small pumps.
- Subject’s
inherent strength is product engineering and development especially power
conversion systems, controllers, regulators, data loggers etc.,
- Subject’s
Clientele enjoys reliable support and supply of all BOS systems
manufactured under one roof.
- Subject also
specializes in several mechanical components that go into wind turbines
such as bearings, shafts, yaw blades, adapters, rotors Towers of different
types etc.,
- Fully
automatic wind-solar hybrid power plants successfully installed for area
lighting at "Dona Paula" Goa and "Snake Park” Pune.
SALIENT FEATURES OF UNITRON MAKE WIND GENERATORS
Highly Refined And Re Engineered For Reliabilty And
Performance, Highiest Build Quality In Its Class
- Superior
Grade Magnets For Long Life
- High Grade
Stator Laminations For Superior Performance
- Triple
Insulation Plus “Diathon” Epi Coat To Ensure Resistance Againest Inclement
Weather Conditions To Protect Stator
- Resin Cast
Vaccum Impregnated Stator Coils
- Unique
Conformal Coat / Treatment On All Parts
- High
Performance Sealed Dual Track Ball Bearings For Long Lasting And Smooth
Perofrmance
- Stainless
Steel Yaw Shaft System With Non Slip Copper Alloy Rings
- Alloy Copper
Brush Contacts On Yaw Bearing Ensure Nx360 O Yaw Rotation For Wind
Generator,. No Locking Of Cables / Unwinding Of Cables Are Needed.
- True Angle
Governing Complimented By Controller To Prevent Overspeeding Of Rotor
- High
Performance Carbon Fibre Composite Reinforced Rotor Blades Treated With
Special Epoxy Resins And High Gloss Pu Coat
- Careful
Layering Technique Complimented By Meticulously Balanced Light Weight
Blades Ensure Smoothest Operation Under All Conditions, This Extends The
Life Of Generator
- High
Efficiency Low Cog Loss Permanent Magnet Radial Flux Alternator With
Efficiencies Exceeding 87 %.
- Unique Angle Governing
Mechanism Ensures High Power Production Even Beyond Furling Speeds >
60kmph Where, Most Competitive Models The Power Drop Is Significant.
- Stable 18m
Triangular Lattice Towers Can Withstand Wind Speeds > 150kmph. 18m Is
Minimum Height Recommended.
- Feature Rich
Electronic Micro-Controller For Energy Management, Low End Power Boost Mpp
Regulator. Ensures, Efficient Energy Transfer, Protection By Continuous
Rpm Monitoring Etc.
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.43.38 |
|
UK Pound |
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.64.55 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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. |
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 |
|