MIRA
INFORM REPORT
|
Report Date : |
25.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VENTURA OMNITECH PRIVATE LIMITED |
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Registered Office : |
No.10-2-289/42, (38 New), Ground Floor, Opp: Hockey Grounds, Shantinagar,
Vijaynagr Colony, Hyderabad – 500 028, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.09.1994 |
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Com. Reg. No.: |
01-18328 |
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CIN No.: [Company
Identification No.] |
U74999AP1994PTC018328 |
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PAN No.: [Permanent
Account No.] |
AAACV9812E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Traders of Packaging Machines |
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 66000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade relations are fair. Payments are usually correct and as per
commitments. The company is doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ramesh |
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Designation : |
Accountant |
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Date : |
20.08.2008 |
LOCATIONS
|
Registered Office : |
No.10-2-289/42, (38 New), Ground Floor, Opp: Hockey Grounds,
Shantinagar, Vijaynagr Colony, Hyderabad – 500 028, Andhra Pradesh, India |
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Website : |
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Corporate Office : |
M R Garden, Krishna Colony, Coimbatore – 641 001, Tamilnadu, India |
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Tel. No.: |
91-422-2322311 / 2322312 |
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Mobile No.: |
91-9994977725 |
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Fax No.: |
91-422-2317106 / 2322344 |
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E-Mail : |
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Area : |
2500 Sq. ft. |
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Location : |
Rented |
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Factory : |
Polymer Product Division |
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Tel. No.: |
91-422-2634784 |
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Area : |
1.25 Acres |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. B Ashok Kumar |
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Designation : |
Director |
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Date of Birth/Age : |
17.06.1956 |
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Date of Appointment : |
16.09.1994 |
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Name : |
Mr. P Ajay Kumar |
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Designation : |
Director |
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Date of Birth/Age : |
28.01.1969 |
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Qualification : |
MBA |
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Date of Appointment : |
16.09.1994 |
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Name : |
Mr. S Senthi Kumar |
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Designation : |
Managing Director |
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Date of Birth/Age : |
23.12.1970 |
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Qualification : |
MBA |
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Date of Appointment : |
16.09.1994 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2006)
|
Names of Shareholders |
No. of Shares |
|
B Ashok Kumar |
3300 |
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P Ajay Kumar |
3300 |
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S Senthi Kumar |
3300 |
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G Rajsunder |
100 |
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Total |
10000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2006)
|
Category |
Percentage |
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Directors or relatives of Director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Traders of Packaging Machines |
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Products : |
Packaging Automation ·
Case Erectors and Selaers ·
Carton Straping ·
Shrink Wrappers ·
Palletizers ·
Stretch Wrappers ·
Pneumatic Nailer Line Automation ·
Idle Systems ·
Powerised Systems Consumables ·
PP Straps |
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Imports : |
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Countries : |
·
China ·
Taiwan |
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Terms : |
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Selling : |
Credit (10 to 15 days) |
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Purchasing : |
T T Telegraphic Transfer |
GENERAL
INFORMATION
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Customers : |
·
Regma Ceramics Limited ·
Pricol Limited ·
Harwood Garments Private Limited ·
Festo Controls Private Limited ·
Carborundum Universal Limited ·
EID Parry India Limited ·
MRF Limited ·
TI Cycles ·
Hewlet Packard ·
BOL Sanyo |
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No. of Employees : |
100 (In Office 75 and In Factory 25) |
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Bankers : |
·
HDFC Bank ·
State Bank of Mysore R S Puram Branh, Coimbatore, Tamil Nadu,
India ·
Tamilnad Mercantile Bank Dr. Nanjappa Road Branch, Coimbatore – 641
018, Tamil Nadu, India ·
South Indian Bank |
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Facilities : |
CC upto Rs.3.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vavilala and Associates Chartered Accountants |
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Address : |
1-4-880/2/9, SBH Colony, New Bakaram, Gandhinagar, Hyderabad – 500
080, Andhra Pradesh, India |
CAPITAL STRUCTURE
(As on 30.09.2006)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
10.337 |
8.935 |
2.195 |
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3] Reserves & Surplus |
2.855 |
2.726 |
1.993 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.292 |
11.761 |
4.288 |
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LOAN FUNDS |
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1] Secured Loans |
7.962 |
7.073 |
1.186 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
7.962 |
7.073 |
1.186 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
21.254 |
18.834 |
5.474 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.935 |
10.833 |
2.929 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.404
|
12.036 |
10.911 |
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Sundry Debtors |
3.447
|
2.879 |
0.953 |
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Cash & Bank Balances |
2.716
|
1.664 |
5.198 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.959
|
3.037 |
4.023 |
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Total
Current Assets |
14.526
|
19.616 |
21.085 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.211
|
11.619 |
18.545 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
4.211
|
11.619 |
18.545 |
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Net Current Assets |
10.315
|
7.997 |
2.540 |
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MISCELLANEOUS EXPENSES |
0.004 |
0.004 |
0.005 |
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TOTAL |
21.254 |
18.834 |
5.474 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
42.556 |
31.898 |
38.304 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
42.556 |
31.898 |
38.304 |
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Profit/(Loss) Before Tax |
0.128 |
0.970 |
0.906 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
0.128 |
0.970 |
0.906 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
7.632 |
(1.125) |
(9.662) |
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Depreciation & Amortization |
0.660 |
0.688 |
0.213 |
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Other Expenditure |
34.136 |
31.365 |
46.847 |
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Total Expenditure |
42.428 |
30.928 |
37.398 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
0.30
|
3.04 |
2.37 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.30
|
3.04 |
2.37 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.50
|
3.19 |
3.77 |
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Return on Investment (ROI) (PBT/Networth) |
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0.01
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0.08 |
0.21 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.92
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1.59 |
4.60 |
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Current Ratio (Current Asset/Current Liability) |
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3.45
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1.69 |
1.14 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Address of the Company has been shifted from 3-4-142/7,
Gautami Apartments, Flat No. 103, Barkatpura, Hyderabad – 500 027, Andhra
Pradesh, India to the present address with effect from 01.10.2007.
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
VENTURA OMNITECH PRIVATE LIMITED |
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Statutory Approvals |
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Income Tax Registration |
AAACV9812E |
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VAT/ TIN Registration |
33671822062 |
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Excise Registration |
AAACV9812EXM001 |
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Name of Bank |
Tamilnad Mercantile Bank |
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Account Since |
From 2005 |
Trade References
MRF Limited, Chennai
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Name of the company |
VENTURA OMNITECH PRIVATE LIMITED |
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Presented By |
P Ajay Kumar,
Director |
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1) Date and description of instrument creating the change |
02.05.2000 Agreement for
Advances |
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2) Amount secured by the charge/amount owing on the securities of charge |
SCC 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 of
Machinery (Packing) and
Spare Parts |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Repayment on
Demand |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Mysore R S Puram Branh, Coimbatore, Tamil Nadu, India |
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6) Date and brief description of instrument modifying the charge |
22.07.2004 Agreement of
Advanves – Form No. 9 |
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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. |
Existing Coverage
of Rs.1.500 millions to be enhanced of Rs.0.420 million Rate of Interest
– 12.25% |
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Corporate
identity number of the company |
U74999AP1994PTC018328 |
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Name of the
company |
VENTURA OMNITECH PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
No.10-2-289/42, (38 New), Ground Floor, Opp: Hockey Grounds,
Shantinagar, Vijaynagr Colony, Hyderabad – 500 028, Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
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Type of charge |
·
Immovable
property ·
Movable
property (not being pledge) ·
Others |
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Particular of
charge holder |
Tamilnad Mercantile Bank Dr. Nanjappa Road Branch, Coimbatore – 641 018, Tamil Nadu, India |
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Nature of
instrument creating charge |
1.
Article of
Agreement 2.
Agreement for
Demand Cash Credit on the Hypothecation of Movable Properties 3.
Deed of
Hypothecation of Machinery |
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Date of
instrument Creating the charge |
02.11.2007 |
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Amount secured by
the charge |
Rs.6.325 millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate of
Interest 5% pa above RBI rate with minimum of 11% pa 6.50% pa above RBI rate with minimum of 12.50% pa ·
Terms of
repayment Demand Loan of Rs.3.325 millions to be repaid in 35 equal monthly
installments of Rs.0.095 million CC (Stock) of Rs.3.000 millions to be repayable within one year and
renewable in subsequent years. ·
Margin Demand Loan – Nil Cc (Stock) – 25% ·
Extent and
Operation of the charge Loan, Interest and Charges if any (default interest – 2%) |
|
Particulars of
the property charged |
1.
On
hypothecation of stock in trade of raw materials, semi finished goods of Polypylene
box stipling and all kind of packing and pundling machines. 2.
Hypothecation
PPHDPE BOX Stapling plant for heat sealing slaps size 60MM make konark, India 3.
On Equitable
mortgage of industrial land to the extent of 1.21 acres at S F No. 129/1 A2,
Door No 5/8A, Pappampatti main Road, Peedampalli Village and panchayat board
limit, PaPaladam T K Coimbatore |
|
Particulars of
the present modification |
Existing Cash
Credit limit increased Rs.1.000 to 3.000 millions remaining the same. |
Web Details
Profile
·
Established in 1994 with wide network of Branches, Agents, Dealers and
Service Centers.
·
Member of the Institute of Packaging Professionals, USA.
·
Member of Transport
Packaging Committee of Institute of Packaging.
·
Logistic advisors for various Industrial Corporations.
·
Proper blend of Technical, Design, Project Skills with Updated
Technology.
Salient
Features
·
Globally accepted perfect & proven technology
·
Adaptable to Indian Conditions
·
User Friendly
·
Reliable Components
·
Effective After Sale Service
·
Adequate Spare Support
·
Custom built modification facility available
·
Machine Up-gradation facility available
·
Uninterrupted consumable support
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
54 |
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 |
|