MIRA
INFORM REPORT
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Report Date : |
15.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
R K TRANSONIC ENGINEERS PRIVATE LIMITED |
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Registered Office : |
108 A, Pocket
4, Phase 1, Mayurvihar, New Delhi 110091 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.04.2004 |
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Com. Reg. No.: |
55 - 125684 |
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CIN No.: [Company
Identification No.] |
U29199DL2004PTC125684 |
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IEC No.: |
0505008475 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR10703A |
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PAN No.: [Permanent
Account No.] |
AACCR7277H |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufactures and
Exporters of Ultrasonic Cleaning Machines. |
RATING &
COMMENTS
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MIRAs 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 1535 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject took-over
the business of Transonic Sale & Service where summarised financials are
given herewith. Trade relations are
fair. Payments are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajendra Pal |
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Designation : |
Director |
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Contact No.: |
91-9811252851 |
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Date : |
10.07.2008 |
LOCATIONS
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Registered Office : |
108 A, Pocket
4, Phase 1, Mayurvihar, New Delhi 110091, India |
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Tel. No.: |
91-11-22751993 |
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Mobile No.: |
91-9811252851 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq. ft. |
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Location : |
Rented |
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Corporate Office : |
A 7, Mohan
Sadan, R. B. Mehta Marg, Ghatkopar [East], Mumbai, Maharashtra, India |
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Tel. No.: |
91-22-25113748 |
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Fax No.: |
91-22-25113709 |
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E-Mail : |
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Area : |
800 sq. ft. |
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Location : |
Rented |
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Factory : |
B 109, Sector
6, Industrial Area, Noida 201301, Uttar Pradesh |
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Tel. No.: |
91-120-2422398 |
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Fax No.: |
91-120-4346654 |
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E-Mail : |
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Area : |
3000 Sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Rajendra Pal |
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Designation : |
Director (Administration) |
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Address : |
108 A, Pocket
4, Phase 1, Mayurvihar, New Delhi 110091, India |
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Date of Birth/Age : |
14.06.1958 |
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Qualification : |
B.Sc (Electronic) |
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Experience : |
20 Years |
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Date of Appointment : |
07.04.2004 |
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Name : |
Mr. Kamal Sharma |
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Designation : |
Director (HRD) |
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Address : |
108 A, Pocket
4, Phase 1, Mayurvihar, New Delhi 110091, India |
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Date of Birth/Age : |
17.04.1964 |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Date of Appointment : |
07.04.2004 |
KEY EXECUTIVES
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Name : |
Mr. Kamal Kumar |
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Designation : |
Manager [Purchase
/ Materials] |
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Name : |
Mr. Sandeep
Sharma |
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Designation : |
Manager [IT] |
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Name : |
Mr. R. S. Yadav |
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Designation : |
General Manager
[Marketing] |
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Name : |
Mr. Kishan Kumar |
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Designation : |
Manager
[Manufacturing Works] |
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Name : |
Mr. S. K. Dass |
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Designation : |
General Manager
[Marketing] |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
No. of Shares |
|
Mr. Rajender Pal |
50000 |
|
Mrs. Kamal Sharma |
50000 |
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Total |
100000 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
|
Sr. No. |
Category |
Percentage |
|
1. |
Directors or relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufactures and
Exporters of Ultrasonic Cleaning Machines. |
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Products : |
v
Ultrasonic
Cleaners for cleaning of Molds and dies v
Ultrasonic
multistage cleaners for Compact Disk Industries v
Ultrasonic
cleaning systems for color picture tube Industries v
Ultrasonic
Cleaners and Processors for Hospitals and Labs v
Ultrasonic
cleaners for Automobile Industries v
Ultrasonic
PCB Cleaners for Electronic Manufacturing Industries v
Multi stage
cleaners for Orthopaedic Implants v
Ultrasonic
cleaners for weapons / Gun Cleaning v
Ultrasonic
Vapor Degreasers v
Distillation
Tanks v
Material
Handling systems for the above Machines v
Single Tank
Ultrasonic Cleaners v
Multi Stage
Aqueous Ultrasonic Cleaners v
Multi Stage
Vapour Degreaser v
Recovery
System for Solvent Base Cleaners (TCE/ PCE/ Leksol) v
Jet Spray
Washing Machines v
Automatic
Handling Systems and online Conveyors v
Multi Stage
Spray Washing Machines |
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Brand Names : |
Transsonic |
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Exports : |
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Products : |
v Ultrasonic Cleaners |
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Countries : |
v
Dubai v
Egypt v
France v
Denmark v
Sri Lanka |
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Imports : |
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Products : |
v PZT Crystals |
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Countries : |
v USA |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
Cash |
PRODUCTION STATUS
|
Particulars |
Actual
Production |
|
Custom made Industrial Ultrasonic Cleaning Machines |
100 |
GENERAL
INFORMATION
|
Suppliers : |
APC, U.S.A. |
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Customers : |
v
Manufacturers v
End Users v
OEMs v
Falcon
Technologies LLC, Dubai v
Warstila
LLC, Dubai v
Orthodome,
Egypt v
F.
Marouchtchak, France v
Moser Baer
India Limited v
Samtel Color
Limited v
Shriram
Pistons v
BPL Display
Devices v
Escorts, LML
Limited v
Ordinance
Factories v
Air-Force v
Warstila LLC |
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No. of Employees : |
14 |
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Bankers : |
v
ICICI Bank Mayurvihar
Branch, Delhi, India v State Bank of Saurashtra |
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Facilities : |
ICICI Bank Fund based - Rs.
1.000 million |
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Auditors : |
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Name : |
Anil Gopi and
Company Chartered
Accountants |
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Address : |
S 39, Greenpark
Main Market, New Delhi 110016, India |
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Tel. No.: |
91-11-26641498 |
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Fax No.: |
91-11-26513439 |
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E-mail: |
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Associates/Subsidiaries : |
v
Transonic
Sales and Service Address: 108 A, Pocket 4, Phase 1, Mayurvihar, Delhi 110091, India Line of Business: Service for Cleaning Machines |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs. 1/- each |
Rs. 0.200
million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 1/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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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 |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.207 |
0.053 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.307 |
0.153 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
1.250 |
1.454 |
0.000 |
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TOTAL BORROWING |
1.250 |
1.454 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.014 |
0.005 |
0.000 |
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TOTAL |
1.571 |
1.612 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.536 |
0.254 |
0.000 |
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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 |
0.895
|
1.396 |
0.000 |
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Sundry Debtors |
0.442
|
0.380 |
0.000 |
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Cash & Bank Balances |
0.365
|
0.811 |
0.084 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.478
|
0.143 |
0.000 |
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Total
Current Assets |
2.180
|
2.730 |
0.084 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Current Liabilities |
1.072
|
1.350 |
0.005 |
|
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Provisions |
0.085
|
0.037 |
0.000 |
|
Total
Current Liabilities |
1.157
|
1.387 |
0.005 |
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Net Current Assets |
1.023
|
1.343 |
0.079 |
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MISCELLANEOUS EXPENSES |
0.012 |
0.016 |
0.020 |
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TOTAL |
1.571 |
1.612 |
0.100 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
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Sales Turnover (Including Other Income) |
|
9.400 |
6.467 |
|
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Total Income |
|
9.400 |
6.467 |
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Profit/(Loss) Before Tax |
|
0.279 |
0.128 |
|
|
Provision for Taxation |
|
0.116 |
0.068 |
|
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Profit/(Loss) After Tax |
|
0.163 |
0.060 |
|
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Expenditures : |
|
|
|
|
|
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Depreciation & Amortization |
|
0.096 |
0.046 |
|
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Other Expenditure |
|
9.025 |
6.293 |
|
Total Expenditure |
|
9.121 |
6.339 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.73
|
0.93 |
-- |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.97
|
1.98 |
-- |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.97
|
1.98 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.91
|
0.84 |
-- |
|
|
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|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.77
|
9.06 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.97 |
16.80 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Moser Baer Noida
v Shriram Pistons Ghaziabad
v Maruti Suzuki Gurgaon
v Sigma Freudenbers NOK Private Limited,
Punjab
v Ester Industries Limited, , Uttranchal
Trust Seal Acceptance Chart
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration |
AACCP7277H |
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Central Sales Tax Registration |
ND5115872 |
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VAT / TIN Registration |
09265701373 |
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Import Export Code |
0505008475 |
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Name of Bank |
ICICI Bank |
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Current Account Number |
629705012890 |
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Account Since |
2004 on wards |
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Credibility Factors |
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India Mart Client Since |
4 Years |
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Trade Affiliations |
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SSI Registration |
NO |
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Export Promotion Council |
NO |
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Standards and Certifications |
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Quality Management Systems |
YES |
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Environment Management Systems |
NO |
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Safety Certificates |
NO |
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Product Certificates |
NO |
|
Other Certificates |
ISO 9001: 2000 |
As Per Website Details
History:
The company was
formed in the name of Transonic Sale and Service as a Sole Proprietory Concern
in the year 1998 by Mr. Rajendra Pal. Manufacturing
ultrasonic cleaners in a rented factory in Delhi. In the year 2001 the companys manufacturing was shifted to a
bigger factory in Noida in Uttar Pradesh. In the year 2004 a new company in the
name of R. K. Transonic Engineers was formed & the previous company was
taken over by R. K. Transonic Engineers Private Limited. All the registration like sale tax etc was
transferred to the new company. In R.
K. Transonic Engineers Private Limited, they started manufacturing the same
products from April, 2005.
Introduction
Established in 2004, Subject is one of the leading manufacturers, exporters and suppliers of industrial ultrasonic cleaners and degreasers. Under the guidance of the mentor Mr. Rajendra Pal, they manufacture multi-use cleaning systems and equipments which adhere to international standards of quality and are highly reliable.
The array of cleaning systems and equipments are the best and the most dynamic
way to remove oil, grease, shavings, filings, wax, oxides and dust from uneven
surfaces during production and maintenance phases. These are used extensively
to clean huge hydraulic parts, metal fittings, ceramics, glass, plastic, gears
that undergo galvanization, instruments and components of assembled equipments,
machines and delicate parts of precision mechanics.
They ensure that the equipments reach the clients in the
stipulated time frame. They value the feed back of the clients for enhancing
the performance and quality of the range of ultrasonic cleaning systems.
The Objective
The objective is to manufacture the ultra modern ultrasonic washing equipments
and cleaning systems that satisfies the clients unique requirements. As they
feel that the client looks for perfection in the equipments and hence they must
incorporate advanced features to satisfy their cleaning requirements.
About Ultrasonic Cleaning
Ultrasonic cleaning system is simply a tank made from stainless
steel with pizeo ceramic transducers attached to the bottom and side. When
these transducers are attached to the electrical signal increase in size and
causes the bottom and sides of the tank to move, creating a compression wave in
the liquid filled in tank. Attached to an electricity generator, these
transducers are put out on a high frequency signal [20 to 50 kHz], resulting in
rapid compression and rarefaction waves in the liquid. Liquid gets torn apart
due to rarefaction, creating a vacuum cavity in it. Cavity grows larger and
smaller with the compression wave. After cavity reaches a certain point, it
collapses violently resulting in creation of bubbles breaking up instantly.
Basic types of ultrasonic cleaning
systems are:
v A
single tank cleaning system
v Industrial
single tank cleaning systems
v Multi
tank cleaning systems
v
Automation
Advantages Of Ultrasonic Cleaning Systems
The range of industrial grade ultrasonic cleaning systems is
used extensively for casted aluminum components. These cleaning equipments are
highly in demand due to the following advantages:
v These
cleaning systems work on an eco-friendly procedure with an ability to
substitute vapor degassing processes.
v It
enhances the aqueous cleaning procedures in diverse industries.
v
The cleaning action is able to infiltrate smallest
particles, and hard-to-reach surfaces which are unreachable to routine cleaning
methods.
Products
Working on the similar ultrasonic cleaning procedures, they
offer unparalleled technology of cleaning and washing equipments. The wide
range of products includes Single Tank Ultrasonic Cleaners, Multi Stage Aqueous
Ultrasonic Cleaners, Multi Stage Vapour Degreaser, Recovery System For Solvent
Base Cleaners (TCE/PCE/Leksol), Jet Spray Washing Machines, Automatic Handling
Systems & Online Conveyors and Multi Stage Spray Washing Machines.
v Largest
capacities and highest watt densities available
v Industrial
grade cleaning systems
v Up to
100,000 watts cleaning
v Relative
stability & compatible
v Lifetime
warranty on transducer bonding
v Heavy-Duty
transducers utilizing Piezo
v Electric
Elements for Highest efficiency
v
Automatic tuning
With all the above features,
they cater to the varied washing and cleaning requirements of diverse
industries.
Industries
They Cater To
They cater to diverse industries such as:
v Printing
Industry
v Medical
Industry
v Orthopedic
Implants Cleaning
v Armour
Industry
v Automobile
Industry
v Jewelry
Industry
v Utensils,
Hardware & Brassware Industry
v Ball
Point Pen Tip Cleaning
v Mold
Cleaning
v On-line
Wire Cleaning / Tube Cleaning
v Compact
Disk (CD) Manufacturing Industries
v Air
Conditioner Components
v Fruit
and Vegetable Washer
Owing to the well equipped infrastructural set, they are able to cater to miscellaneous
requirements of above industries.
Infrastructural Set-up
They have a sound infrastructural set up with technically advanced machineries
which are required for operations such as machining, fabrication, ultrasonic
generators, transducer manufacturing, frequency measurement, assembly of
mechanical structures, electronic & electrical assemblies for testing.
The in-house computer aided design and drawing department
working on Windows NT and generate all the designs and drawings on Auto CAD.
The well developed vendor network for varied services such
as fabrication, machining, PCB manufacturing, wave soldering and other
activities. This enables us to manufacture machines from conceptualizing to
fabrication. The sophisticated machinery is backed by a team of professionals
who execute and produce equipments as per the unique requirements of the
clients.
The Workforce
The state of the art infrastructure is backed by a team of experienced
personnel. They consider the manpower as the strength of the organization. The
team of experts plays a vital role in production procedure and timely delivery
of the finest ultrasonic cleaning systems. The team members are experienced and
have detailed knowledge regarding each and every stage of manufacturing process.
They are empowered with a team of enthusiastic workforce, which comprises of
talented workers and experienced marketing personnel. The expert professionals
continue to be updated with the latest demands of the market and work in close
cooperation with the clients to meet their requirements.
Quality Assurance
The range of cleaning systems adheres to international standards of quality and
undergoes stringent quality control process to guarantee zero defects in the
equipments. The ultrasonic cleaning and washing systems undergo strict tests to
conform long lasting lives and durability. Every stage of manufacturing process
is under the vigilance of the quality control department right from the time of
procurement of the raw material to the final delivery of the products.
They take pride in offering the clients with turnkey solution which encompasses
advanced technology and environmental aqueous solvents to replace harmful
organic solvents. The in house quality control unit subjects the cleaning equipments
with several testing methods and ensures the performance of the equipments with
demonstration. The in depth industry knowledge assists us to deliver an
effective range of cleaning system.
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 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 Intl
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 :
The 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.
The Governance Assessment focuses principally on the interactions
between a companys 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. 42.82 |
|
UK Pound |
1 |
Rs. 84.89 |
|
Euro |
1 |
Rs. 68.07 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SCs 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, they have no basis upon which to
recommend credit dealings |
No Rating |
|