BUSINESS INFORMATION REPORT
- Summary Information
|
Company Name |
RAMESH HITECHK PUMPS PRIVATE LIMITED |
Principal Name 1 |
MR. N RAMESH KUMAR |
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Status |
SATISFACTORY |
Principal Name 2 |
MR. N SURESH KUMAR |
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Street Address |
Door No. 1040, Bharathiyar Road,
Pappanaickenpalayam, Coimbatore – 641 037, Tamilnadu, India |
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Established Date |
04.02.2005 |
SIC Code |
-- |
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Telephone# |
91-422-2249933 / 2211139 / 2200933 |
Business Style 1 |
MANUFACTURING |
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Fax # |
91-422-2211139 |
Business Style 2 |
-- |
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Homepage |
Product Name 1 |
JET PUMPS |
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# of employees |
125 |
Product Name 2 |
MINI MONOBLOC PUMPS |
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Paid-up capital |
Rs.6,050,000 |
Product Name 3 |
FLOW MAX MONONLOC |
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Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS (100%) |
Banking |
STATE BANK OF HYDERABAD |
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Public Limited Corp. |
No |
Business Period |
3 YEARS |
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IPO |
No |
International Ins. |
-- |
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Public Enterprise |
No |
Rating |
Ba |
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Related Company |
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Relation |
Country - India |
Company Name |
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Note |
- |
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2. Summary
Financial Statement
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Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
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Assets |
Liabilities |
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Current Assets |
12,495,000 |
Current Liabilities |
12,003,000 |
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Inventories |
17,850,000 |
Long-term Liabilities |
31,708,000 |
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Fixed Assets |
19,994,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
43,711,000 |
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Invest& other Assets |
1,495,000 |
Retained Earnings |
1,114,000 |
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|
Net Worth |
8,123,000 |
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Total Assets |
51,834,000 |
Total Liab. & Equity |
51,834,000 |
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Total Assets (Previous Year) |
45,039,000 |
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P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
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Sales |
72,361,000 |
Net Profit |
000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RAMESH HITECHK PUMPS PRIVATE LIMITED |
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Registered Office : |
Door No. 1040, Bharathiyar Road, Pappanaickenpalayam, Coimbatore – 641
037, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
04.02.2005 |
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Com. Reg. No.: |
18-11574 |
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CIN No.: [Company
Identification No.] |
U29120TZ2005PTC011574 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBR04344E |
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PAN No.: [Permanent
Account No.] |
AACCR9447B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Various types of Pumps. |
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 41000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having
satisfactory track records. Trade relations are fair. Business is active. No
complaints have been heard. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Satish |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9894795180 |
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Date : |
12.12.2008 |
LOCATIONS
|
Registered Office/Factory : |
Door No. 1040, Bharathiyar Road, Pappanaickenpalayam, Coimbatore – 641
037, Tamilnadu, India |
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Tel. No.: |
91-422-2249933 / 2211139 / 2200933 |
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Mobile No.: |
91-9894795180 |
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Fax No.: |
91-422-2211139 |
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E-Mail : |
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Website : |
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Area : |
15000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. N Ramesh Kumar |
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Designation : |
Chairman cum Managing Director |
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Address : |
7-A, Lalbagador Colony, Peelamedu, Coimbatore – 641 004,
Tamilnadu,India |
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Date of Birth/Age : |
15.03.1963 |
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Qualification : |
BE |
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Date of Appointment : |
04.02.2005 |
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Name : |
Mr. N Suresh Kumar |
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Designation : |
Director |
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Address : |
7-A, Lalbagador Colony, Peelamedu, Coimbatore – 641 004,
Tamilnadu,India |
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Date of Birth/Age : |
25.11.1966 |
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Qualification : |
DME |
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Date of Appointment : |
04.02.2005 |
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Name : |
Mr. N Rajesh Kumar |
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Designation : |
Director |
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Address : |
7-A, Lalbagador Colony, Peelamedu, Coimbatore – 641 004,
Tamilnadu,India |
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Date of Birth/Age : |
22.02.1970 |
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Qualification : |
BE |
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Date of Appointment : |
04.02.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2008)
|
Names of Shareholders |
No. of Shares |
|
N Ramesh Kumar |
165000 |
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N Suresh Kumar |
165000 |
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N Rajesh Kumar |
165000 |
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N Vasanthamani |
27500 |
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R Anitha |
27500 |
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S Indumathi |
27500 |
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Renukadevi |
27500 |
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Total |
605000 |
Equity share
breakup (percentage of total equity)
(As on
30.09.2008)
|
Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Various types of Pumps. |
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Products : |
·
Jet pumps ·
Mini Monobloc Pumps ·
Flow Max Mononloc ·
4 inches Submersible ·
6 and 8 inches Submersible ·
Agricultural Monoblocs · Openwell Monoblocs |
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Exports : |
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Countries : |
Bahrain |
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Terms : |
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Selling : |
Cash and Credit (30 days to 45 days) |
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Purchasing : |
Cash and Credit (45 days to 60 days) |
GENERAL
INFORMATION
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Customers : |
·
Dealer ·
Distributor |
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No. of Employees : |
125 (In Office 45, In Factory 80 and Contract Workers 15) |
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Bankers : |
·
State Bank of Hyderabad LIC Building, Avinashi Road, Coimbatore –
641 038, Tamilnadu, India ·
Small
Industries Development Bank of India SIDBI Tower, 15 Ashok Marg, Lucknow 226001, Gowtham Centre, 1055/7
Avinashi Road, Coimbatore – 641 018, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Vekam and Association Chartered Accountant |
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Address : |
19/1 B K R Nagar, Sakthi Road, Coimbatore – 641 012, Tamilnadu, India |
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Division : |
Foundary Unit , Karayampalayam |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
605000 |
Equity Shares |
Rs.10/- each |
Rs.6.050 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
605000 |
Equity Shares |
Rs.10/- each |
Rs.6.050 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
6.050 |
6.050 |
3.510 |
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2] Share Application Money |
0.959 |
0.684 |
1.674 |
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3] Reserves & Surplus |
1.114 |
0.518 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(1.473) |
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NETWORTH |
8.123 |
7.252 |
3.711 |
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LOAN FUNDS |
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1] Secured Loans |
20.753 |
19.242 |
15.322 |
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2] Unsecured Loans |
10.955 |
8.323 |
7.684 |
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TOTAL BORROWING |
31.708 |
27.565 |
23.006 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
39.831 |
34.817 |
26.717 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.994 |
19.499 |
13.250 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.376 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.717 |
0.273 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
17.850
|
16.003 |
13.904 |
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Sundry Debtors |
10.036
|
5.831 |
8.096 |
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Cash & Bank Balances |
0.875
|
1.270 |
0.610 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.584
|
0.870 |
1.225 |
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Total
Current Assets |
30.345
|
23.974 |
23.835 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
11.601
|
9.769 |
10.340 |
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Provisions |
0.402
|
0.453 |
0.301 |
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Total
Current Liabilities |
12.003
|
10.222 |
10.641 |
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Net Current Assets |
18.342
|
13.752 |
13.194 |
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MISCELLANEOUS EXPENSES |
1.119 |
0.849 |
0.000 |
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TOTAL |
39.831 |
34.817 |
26.717 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2008 |
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Total Income |
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|
72.361 |
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Profit/(Loss) Before Tax |
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|
1.063 |
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Provision for Taxation |
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|
1.063 |
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Profit/(Loss) After Tax |
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|
0.000 |
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Total Expenditure |
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|
71.298 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
0.000
|
NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.47
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.11
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.13
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.38
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5.21 |
9.07 |
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Current Ratio (Current Asset/Current Liability) |
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2.53
|
2.35 |
2.24 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Arjun Pumps, Cheinnayam Palayam
·
Balaji Traders, P N Palayam
·
Prakash Tubes Corporation, Chennai
·
Shri Krishna engineering Electric, Warangal, Andhra Pradesh
Form No. 8
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Corporate
identity number of the company |
U29120TZ2005PTC011574 |
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Name of the
company |
RAMESH HITECHK PUMPS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Door No. 1040, Bharathiyar Road, Pappanaickenpalayam, Coimbatore – 641
037, Tamilnadu, India |
|
This form is for |
Creation of
Charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
Small Industries
Development Bank of India SIDBI Tower, 15
Ashok Marg, Lucknow 226001, Gowtham Centre, 1055/7 Avinashi Road, Coimbatore
– 641 018, Tamilnadu, India |
|
Nature of
instrument creating charge |
Small Industries
Development Bank of India SIDBI Tower, 15
Ashok Marg, Lucknow 226001, Gowtham Centre, 1055/7 Avinashi Road, Coimbatore
– 641 018, Tamilnadu, India |
|
Date of
instrument Creating the charge |
Deed of Hypothecation
dated 23.06.2006 and Loan Agreement 23.06.2006 |
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Amount secured by
the charge |
23.06.2006 |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rs.4.000 millions
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Description of the
property charged indicating whether it is a charged on |
Rate of interest Interest 11.5%
Loan is repayable in 54 monthly instalments 12 Instalments at Rs.0.050
million, 41 instalments at Rs.0.080 million and last instalments Rs.0.120
million |
|
Particulars of
the property charged |
Plant and
Machinery more particularly 1 Set Induction Melting furnace Rs.2.075 million,
Moulding Machines 2 Nos (SMFA) Rs.1.377 millions, Electrical Transformer,
Installation Etc. Rs.1.120 millions and Miscellaneous Fixed Assets Rs.0.200
million. |
Performance, results and future prospects
M/s Ramesh Engineering Company has been
converted into a company under Part IX of the Companies Act as a going concern during
the year 05-06. The partners of the firm were the shareholders of the company.
The performance of the Company improved significantly. The company earned a
profit of Rs.1.063 millions after providing a depreciation of Rs.0.851 million.
Apart from pump manufacturing the company has also substantially increased the
sale of casting from the foundry unit which is so far catering the needs of the
pump requirement now products various castings as required by engineering
industries and textile industries.
Fixed Assets
·
Furniture and Fittings
·
Plant and Machinery
·
Vehicles
Web Details
Profile
A product engineered by the result-oriented Coimbatore-based subject
ensures enjoy the refreshing water, for life.
Subject started its operation in 1966, manufacturing Pumps and Motors. Now they
have grown into one of the leading manufacturers of pumps in India. They
produce pumps to cater to the agriculture and domestic segments.
The vision is to produce quality products through cost-effective means, to the
complete satisfaction of the customers. They design and develop the products
keeping in mind Indian conditions and hence the pumps are maintenance free.
They use modern computer-aided design, state-of-the-art manufacturing process,
and stringent inspection procedures, in order to manufacture quality products
consistently. They have a modern testing
department where all the pumps manufactured by them are tested as per
ISI specifications. Various ranges of the Jet Pumps, Monobloc Pumps and
Submersible Pumps are ISI marked. They have very effective dealer network all
over India that provides the best after sales service to the customers.
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] 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.48.71 |
|
UK Pound |
1 |
Rs.72.86 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--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 |
|
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. |
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 |
|