MIRA
INFORM REPORT
|
Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNITHERM ENGINEERS LIMITED |
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Registered Office : |
101 Laxmi Market, 1st Floor, Vartak Nagar
Junction, Pokhran Road, No. 1, Thane – 400 606, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.01.1993 |
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Com. Reg. No.: |
11-70584 |
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CIN No.: [Company Identification No.] |
U99999MH1993PTC070584 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEU05417G |
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PAN No.: [Permanent Account No.] |
AAACU4041L |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Heat Treatment Furnaces and
Foundry Moulding 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 455275 |
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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 : |
Mr. Kundan Jha, Finance Manager of the Company
confirmed the details. Subject is a well – established company having
satisfactory track records. Trade relations are fair. Financial position is
satisfactory. 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. Kundan Jha |
|
Designation : |
Finance Manager |
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Date : |
16.07.2008 |
LOCATIONS
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Registered Office / Corporate Office : |
101 Laxmi Market, 1st Floor, Vartak Nagar
Junction, Pokhran Road, No. 1, Thane – 400 606, Maharashtra, India |
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Tel. No.: |
91-22-6761 4848 / 2585
6022 |
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Fax No.: |
91-22-2585 6194 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Manufacturing Works : |
·
Plot
No.47-E, Opp. Indo US Wires Limited., ·
T-105,
MIDC, |
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Zonal Branches (Sales &
Service) : |
West Zone North Zone South Zone East Zone |
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Commercial H.T. Shop : |
GAT No.257, Village
Kharabwadi, Post Office: Chakan, Taluka: Khed, |
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Tel. No.: |
91-2135-660251/2 |
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Fax No.: |
91-2135-280086 |
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E-Mail : |
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Commercial Vacuum H.T. Shop : |
Indo German Vacu Treat Private Limited., GAT No.257,
Village Kharabwadi, |
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Tel. No.: |
91-2135-660251/2 |
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Fax No.: |
91-2135-280086 |
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E-Mail : |
info@igvtvacutreat.com |
DIRECTORS
|
Name : |
Mr. Dilip Govind Deo |
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Designation : |
Director |
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Address : |
102, Loknath Tower, Near Ramkrishna Ashram, Dhantoli, Nagpur – 440 012,
Maharashtra India |
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Date of Birth/Age : |
18.10.1947 |
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Date of Appointment : |
08.03.2007 |
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Name : |
Mr. R.N. Bakshi |
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Designation : |
Managing Director |
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Profile : |
Founder Promoter MR. R N Bakshi, has over 35 years of
varied experience in engineering companies. He holds a Bachelor degree in
Engineering and Masters Degree in Business Management. Before founding
Unitherm, Under his dynamic leadership company has vision to grow
rapidly in the field of Heat Treatment Services and global scalability of
Industrial Furnaces. |
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Name : |
Mr. D. J. Kanal |
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Designation : |
Director |
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Name : |
Mr. Gunter Reuss |
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Designation : |
Director |
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Name : |
Mr. Ramnarain Bakshi |
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Designation : |
Director |
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Address : |
A -12 Nadanvan CHS S V Road, Andheri (West), Mumbai
– 400 058, Maharashtra, India |
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Date of Birth/Age : |
26.12.1948 |
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Date of Appointment : |
29.01.1993 |
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Name : |
Mrs. Rajni R. Bakshi |
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Designation : |
Director |
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Corporate Management : |
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Mr. R.N. Bakshi |
Managing Director |
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Mr. B K Rajadhyaksha |
Chief Executive Officer – HT Services |
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Mr. N B Ramchandani |
Chief Executive Officer – Industrial Furnaces |
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Mr. S Shankar |
President – Technical, R & D - Industrial
Furnaces Division |
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Mr. G Janarthanam |
President – HT Services (New Projects) |
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Mr. V M Supekar |
Works Manager – Industrial Furnaces, Pune |
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Mr. K N Gopinathan |
Works Manager – Industrial Furnace, Bangalore |
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Mr. Kundan Jha |
Group Manager – Finance & Accounts |
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Mr. Vijay Tambe |
Divisional Manager – IT Services |
MAJOR
SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders (As on 17.08.2005) :- |
No. of Shares |
|
Mr. Ramnarain J Bakshi |
708060 |
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Mrs. Rajni Bakshi |
44840 |
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Mr. Ashish Bakshi |
300500 |
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Mr. Raj Channanlal Satia |
10 |
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Mrs. Veena Satia |
10 |
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Mr. Abdul M Attar |
510 |
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Mr. Paramjit S Chhatwal |
2010 |
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Mr. John Xavier |
10 |
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Mr. Sukhdeo Singh Soor |
10 |
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Mr. Purushottam Dk |
10 |
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Mr. Sukh N Keswani |
1610 |
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Mr. Vashdev T Merani |
1010 |
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Mr. Shriram S Rahalikar |
10 |
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Mr. Ashok M Shahani |
10 |
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Mr. Sital M Kattar |
10 |
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Mr. Mithbaonkar Shankar |
10 |
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Mr. Moti K Bijani |
10 |
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Mr. G V Seshan |
1210 |
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Mr. Naresh Ramchandani |
1010 |
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Mr. S Balsubramaniam |
500 |
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Ms. Sonia Joseph |
200 |
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Mrs. Chaya R Katre |
500 |
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Ms. Veronia Fernandes |
1300 |
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Mr. Ravindra T Phegade |
200 |
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Mr. Ram Krishna Tikku |
31510 |
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Mr. V N Chandiramani |
200 |
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Mr. Pradeep R Phadke |
100 |
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Mr. P N Parekh |
900 |
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Ms. Evan E D’souza |
200 |
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Mrs. Shweta Y Raina |
55010 |
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Mr. A K Sekar |
2000 |
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Mr. Ved Prakash |
200 |
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Mr. C Y Mahajan |
200 |
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Ms. Suriya D Kanal |
50000 |
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Mr. Dilip J Kanal |
50000 |
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Ms. Meeta D Kanal |
500 |
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Mr. Gaurav D Kanal |
500 |
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Mr. N Ranganath |
100 |
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Ms. Devyani Devdikar |
200 |
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Mr. Prediman K Tikku |
1500 |
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Mrs. Mohanrani Bakshi |
1000 |
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Mr. Rajindra Kumar Bakshi |
1000 |
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Mr. G Krishnamoorthy |
200 |
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Mr. Suresh Kotur |
350 |
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Mr. J Madhiazagan |
200 |
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Mr. Anand Motianey |
10 |
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Mr. C G Subhash |
3000 |
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Mr. K Sashidharan |
500 |
|
Mrs. Nergesh Pesi Bharucha |
10000 |
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Ms. Aparna Yashpal Verma |
30000 |
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Mr. G R Shroff |
5 |
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Mr. Gautam Thakkar |
5 |
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Mr. Aditya R Bakshi |
199550 |
List Of Allottee (As On 15.09.2006) :
Equity shares
|
Names Of Allottee |
No. Of Shares |
|
Mr. V Vishwanathan |
2500 |
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Mrs. S Y Raina |
2750 |
|
Mrs. Savita Dudhe |
1000 |
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Mrs. Raizy Mathew |
2000 |
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Mr. N B Ramchadani |
8000 |
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Mr. Tushar Chaudhary |
750 |
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Mr. Avinash Gaikwad |
500 |
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Mr. Anant V Andhale |
1000 |
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Mr. Ramdas Andre |
250 |
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Mr. Mandar R Bidawe |
250 |
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Mr. T K Sarkar |
2000 |
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Mr. D L Joshi |
1000 |
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Mr. R Sashidharan |
1000 |
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Mr. F Z Dadodwala |
1000 |
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Mr. J A Vyas |
250 |
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Ms. Aparna Verma |
1500 |
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Mr. D J Kanal |
2500 |
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Mrs. S D Kanal |
2500 |
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Mrs. Meeta Singh |
25 |
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Mr. Aditya Bakshi Mr. R N Bakshi Mrs. R R Bakshi |
31200 |
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Mr. R N Bakshi Mrs. R R Bakshi |
530 |
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Mr. Gunter Reuss |
9995 |
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Mr. Ramnarayan N Bakshi Jointly With Mrs. Rajini R Bakshi Mr. Aditay R Bakshi |
53331 |
Ordinary Preference
Shares
|
Names Of Allottee |
No. Of Shares |
|
Mr. R N Bakshi |
16750 |
|
Mr. Ashish Bakshi |
9766 |
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Mrs. R R Bakshi |
15750 |
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Ms. Divya Raina |
2305 |
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Mr. Raveesh Raina |
795 |
|
Nr. Yogin L Raina |
13000 |
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Ms. Shweta Raina |
5100 |
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Mr. Jagdeep A Vyas |
700 |
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Mr. Viraj Vyas |
650 |
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Ms. Shreya Vyas |
2000 |
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Mr. Aditya Bakshi |
684 |
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Ms. Shreya Vyas / Mr. Jagdeep Vyas Mrs. Kalyani Vyas |
2250 |
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Ms. Shreya Vyas / Mr. Viraj Vyas Mrs. Kalyani Vyas |
1250 |
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Mr. Jagdeep Vyas Mrs. Kalyani Vyas Mr. Viraj Vyas |
1000 |
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Mr. Ashish Bakshi Mr. Ramnarain Bakshi |
5000 |
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Ms. Shweta Raina Mr. Yogin Raina |
2000 |
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Mr. R N Bakshi Mrs. Rajni Bakshi |
5000 |
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Mr. Ramnarain Bakshi Mrs. Rajni R Bakshi |
4000 |
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Mrs. Rajni R Bakshi Mr. Aditya R Bakshi |
2000 |
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Mrs. Divya Raina Mr. Yogin Raina |
1000 |
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Mr. Ashish Bakshi Mr. Ramnarain Bakshi |
6 |
|
Total |
23506 |
List of 11% Redeemable Preference Shares
|
Names Of Allottee |
No. Of Shares |
|
Mr. Raveesh Raina |
500 |
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Ms. Shweta Y Raina |
2500 |
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Ms. Divya Raina |
1200 |
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Mrs. R R Bakshi |
2000 |
|
Mr. R N Bakshi |
8000 |
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Mr. Aditya R Bakshi |
5000 |
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Mr. Ashish R Bakshi |
8000 |
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Mr. Yogin Bakshi |
1000 |
|
Total |
28200 |
List Of Allottees of
Bonus Shares
|
Names Of
Allottee |
No. Of Shares |
|
Mr. Raj C Satia |
3 |
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Mrs. Veena R Satia |
3 |
|
Mr. Ashish R Bakshi Mr. Ramnarain Bakshi |
100168 |
|
Mrs. Rajni R
Bakshi Mr. Ramnarain J Bakshi |
10000 |
|
Mr. Ramnarain J Bakshi Mrs. Rajni R
Bakshi |
108530 |
|
Mr. Abdul Majid Attar Mrs. Abeda Attar |
170 |
|
Mr. Paramjit Singh Chatwal Mrs. Hardaman Kaur Chatwal |
3 |
|
Mr. John Xavier |
3 |
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Mr. Sukhdeo Singh Soor |
3 |
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Mr. Purshottam D K |
3 |
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Mr. Sukhu N Keswani Mrs. Kiran S Keswani |
3 |
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Mr. Vashdev Merani Mr. Dinesh V Mirani |
3 |
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Mr. Shriram S Rahalikar Mrs. Snehal Rahalkar |
3 |
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Mr. Ashok M Sahani |
3 |
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Mr. Sital M Katthar |
3 |
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Mr. Mithbaonkar S Shankar |
3 |
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Mr. Moti K Bijani Mrs. Monica M Bijani |
3 |
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Mr. G V Seshan Mrs. Pushkala Seshan |
403 |
|
Mr. N B Ramchandani |
2670 |
|
Mr. S Balasubramaniam Mrs. Laxmi Balasubramaniam |
167 |
|
Ms. Sonia Joseph Mr. P A Joseph |
67 |
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Mrs. Chaya R Katre |
167 |
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Mr. Ramnarain J Bakshi Mr. Aditya R Bakshi |
17000 |
|
Mr. Ramnarain J Bakshi Mr. Ashish R Bakshi |
97000 |
|
Mr. Paramjit Singh Chatwal Mrs. Hardaman
Kaur Chatwal |
667 |
|
Mr. N B Ramchandani Mrs. P B Ramchandani |
333 |
|
Ms. Veronica Fernandes |
433 |
|
Mr. Ravindra Tukaram Phegade Mrs. Kalavati Phegade |
67 |
|
Dr. Ramkrishna Tiku |
3503 |
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Mr. V N Chandiramani Mrs. Pramila Chandiramani |
67 |
|
Mr. Pradeep R Phadke |
33 |
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Mr. Praboodh N Parekh Mrs. Rekha Parekh |
300 |
|
Mr. Vashdev T Merani |
333 |
|
Mr. Sukhu Keswani Mrs. Kiran S Keswani |
533 |
|
Mr. Ramnarain Bakshi Mrs. Rajni R Bakshi Mr. Aditya Bakshi |
24445 |
|
Mr. Ramnarain Bakshi Mrs. Rajni R Bakshi Mr. Ashish Bakshi |
8334 |
|
Mr. Evan E D’souza Mr. Elias D’souza |
67 |
|
Mrs. Shweta Y Raina Mr. R N Bakshi |
4375 |
|
Mr. Veda Prakash |
67 |
|
Dr. Ramkrishna Tiku Dr. Aparna Tiku |
7000 |
|
Mr. Chandrakant Y Mahajan Mrs. Smita C Mahajan |
67 |
|
Mrs. Suriya D Kanal Mr. Dilip J Kanal |
17500 |
|
Mr. Dilip J Kanal Mrs. Surya D Kanal |
17500 |
|
Mr. N Ragnath |
33 |
|
Ms. Devyani Devdikar Mrs. Mangala Devdikar |
67 |
|
Ms. Meeta D Kanal Mrs. Suriya D Kanal |
175 |
|
Mr. Gaurav D Kanal Mrs. Suriya D Kanal |
167 |
|
Mr. Prediman Krishen Tiku |
500 |
|
Mrs. Prabha Bakshi |
333 |
|
Mr. Rajinder Kumar Bkashi |
333 |
|
Mr. G Krishnamoorthy |
67 |
|
Mr. Suresh Kotur |
117 |
|
Mr. J Madhiazagan |
67 |
|
Mr. Anand Motianey |
3 |
|
Mr. C G Subash |
1000 |
|
Mr. K Sasidharan |
167 |
|
Mrs. Shweta Raina Mr. Yogin Raina |
14878 |
|
Mrs. Nergesh Pesi Bharucha Mr. Pesi S Barucha |
3333 |
|
Ms. Aparna Yashpal Verma Mr. Ashwin Y Verma |
10500 |
|
Mr. G R Shroff |
2 |
|
Mr. Gautam Thakkar |
2 |
|
Mr. Aditya R Bakshi Mr. R N Bakshi |
49850 |
|
Mr. Aditya R Bakshi Mrs. Rajni R Bakshi |
16668 |
|
Mr.S Rajni Bakshi Mr. Aditya R Bakshi Mr. V Vishwanathan |
4947 |
|
Mr. Vishwanathan |
833 |
|
Mrs. Savita Dudhe |
333 |
|
Mr. Tushar Chaudhary |
250 |
|
Mr. Avinash Gaikwad |
167 |
|
Mr. Anant Andhale |
333 |
|
Mr. Ramdas Andre |
83 |
|
Mr. Mandar Bidawe |
83 |
|
Mr. T K Sarkar |
667 |
|
Mr. D L Joshi |
333 |
|
Mr. R Sasidharan |
333 |
|
Mr. F Z Dahodwala |
333 |
|
Mr. J A Vyas |
83 |
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Mr. Aditya R Bakshi Mr. R N Bakshi Mrs. R R Bakshi |
10400 |
|
Mr. Gunter Reuss |
3332 |
|
Total |
542777 |
Equity Share Breakup (Percentage of Total Equity)
As on 31.03.2007
|
Category |
Percentage |
|
Foreign Holdings (Foreign
Institutional Investor(s), Foreign Companie(s), Foreign Financial
Institution(s), Non –Resident Indian(s) Or Overseas Corporate Bodies Or
Others |
1.00 |
|
Directors or relative of
directors |
82.00 |
|
Others |
17.00 |
|
Total |
100.00 |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturer and Exporter of Heat Treatment Furnaces and
Foundry Moulding Machines |
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Exports : |
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Products : |
Heat Treatment Furnace |
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Countries : |
European Countries |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Europe, Japan |
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Terms : |
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Selling : |
Depend on Customers |
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Purchasing : |
L/C, Credit |
GENERAL
INFORMATION
|
Customers : |
MNC Companies |
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No. of Employees : |
200 |
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Bankers : |
Canara Bank, 4/A, Gokhale
Road, Naupada, Thane – 400 602, Maharashtra, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name 1: |
JCR and Company Chartered Accountants |
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Address : |
1 and 1 A, Unity CHS Limited, D -2, Khira Nagar, S V
Road, Santacruz (West), Mumbai – 400 054, Mumbai – 400 054, Maharashtra,
India |
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Name 2: |
T R Chadha and Company {Mr. Vikas Kumar (Partner)} Chartered Accountants |
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Address : |
106, Nirman Kendra, Dr. E Moses Road, Mahalaxmi,
Mumbai – 400 011, Maharashtra, India |
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|
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Collaborators : |
·
Atmospheric
Furnaces ·
Atmospheric
and Vacuum Furnaces ·
Aluminium
Melting and H T Furnaces ·
Indo
– German Vacu Treat Private Limited, a 50 : 50 Joint Venture Between Unitherm
Engineers Limited and Systherms Holding GmbH – Germany, for commercial Vacuum
Heat Treatment services at Chakan / Pune |
|
|
|
|
Associates/Subsidiaries : |
Unitherm Finance and Investment Company Limited CIN: U65923MH1996PTC096375 |
CAPITAL
STRUCTURE
(As on
30.09.2007) :-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2150000 |
Equity Shares |
Rs. 10/- each |
Rs. 21.500 millions |
|
135000 |
Preferences Shares |
Rs. 100/- each |
Rs. 13.500 millions |
|
|
|
Total |
Rs. 35.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1628331 |
Equity Shares |
Rs. 10/- each |
Rs. 16.283 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
24.951 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
66.104 |
37.344 |
20.285 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
91.055 |
52.344 |
35.285 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
48.464 |
39.584 |
27.189 |
|
|
2] Unsecured Loans |
1.000 |
4.465 |
4.213 |
|
|
TOTAL BORROWING |
49.464 |
44.049 |
31.402 |
|
|
DEFERRED TAX LIABILITIES |
12.318 |
10.316 |
6.792 |
|
|
|
|
|
|
|
|
TOTAL |
152.837 |
106.709 |
73.479 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
109.608 |
89.667 |
64.868 |
|
|
Capital work-in-progress |
15.612 |
1.482 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
17.946 |
20.818 |
0.818 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
61.959
|
32.258 |
33.937 |
|
|
Sundry Debtors |
55.714
|
31.499 |
17.933 |
|
|
Cash & Bank Balances |
18.690
|
22.528 |
6.215 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
34.987
|
10.657 |
8.099 |
|
Total Current Assets |
171.350
|
96.942 |
66.184 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
156.797
|
99.358 |
54.019 |
|
|
Provisions |
4.882
|
2.842 |
5.178 |
|
Total Current Liabilities |
161.679
|
102.200 |
59.197 |
|
|
Net Current Assets |
9.671
|
(5.258) |
6.987 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.806 |
|
|
|
|
|
|
|
|
TOTAL |
152.837 |
106.709 |
73.479 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
358.433 |
236.137 |
|
|
Total Income |
358.433 |
236.137 |
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
59.828 |
32.789 |
|
|
Provision for Taxation |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
59.828 |
32.789 |
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
Export Earnings |
5.465 |
0.434 |
|
Total Earnings |
5.465 |
0.434 |
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
Interest |
4.224 |
5.699 |
|
|
Depreciation &
Amortization |
11.448 |
6.107 |
|
|
Other Expenditure |
282.933 |
191.542 |
|
Total Expenditure |
298.605 |
203.348 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
16.69
|
13.88 |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.69
|
13.88 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.69
|
13.88 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66
|
0.63 |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.77
|
1.95 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current
Liability) |
|
1.06
|
0.95 |
1.12 |
LOCAL
AGENCY FURTHER INFORMATION
FORM 8:-
|
Name of the company |
UNITHERM ENGINEERS LIMITED |
|
Presented By |
UNITHERM ENGINEERS LIMITED |
|
1) Date and description of
instrument creating the change |
Letter evidencing deposit
of title deeds darted 06.10.2005 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs. 86.930 millions |
|
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 |
Equitable mortgage of
immovable properties viz. Industrial land and
Building, Plot No. 47 E Kharabwadi Industrial Area, Attibele Bangalore Land with factory building
Gut No. 257, Kharabwadi, Chakan, Pune District Shop No. 101, 102, 103,
104, 131, 132, 133, 133A, Laxmi Market, Pokhran Road, No. 1, Vartaknagar,
Thane Together with buildings
structures, fixtures , fittings , machineries standing / installed thereon (title deeds described
in Schedule A and properties fully described in Schedule B ) |
|
4) Gist of the terms and
conditions and extent and operation of the charge. |
As per the terms sanction |
|
5) Name and Address and
description of the person entitled to the charge. |
Canara Bank 41–A, Gokhale , Naupada,
Thane, Maharashtra, India |
Form 8
|
Corporate identity number
of the company |
U99999MH1993PTC070584 |
|
Name of the company |
UNITHERM ENGINEERS LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
101 Laxmi Market, 1st Floor, Vartak Nagar
Junction, Pokhran Road, No. 1, Thane – 400 606, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Equitable mortgage or
mortgage of property by depositing the title deeds |
|
Particular of charge
holder |
CIN :
U99999KA1906PTC001069 Canara Bank, 4/A, Gokhale
Road, Naupada, Thane – 400 602, Maharashtra, India |
|
Nature of instrument
creating charge |
Letter evidencing deposit
of title deeds |
|
Date of instrument
Creating the charge |
06.10.2005 |
|
Amount secured by the
charge |
Rs. 86.930 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
As per terms of sanction |
|
Description of the
property charged indicating whether it is a charged on |
·
Plant
and Machinery ·
Furniture
and Fixtures ·
Immovable
Properties |
|
Particulars of the
property charged |
Land and Building at 476,
Bommasandra industrial Area, Bangalore Land with factory building
Gate No. 257 Kharabwadi Village Chakan
|
|
Brief description of the
instrument modifying the charge under section 135 |
Letter evidencing deposit
title deeds |
|
Date of instrument
modifying the charge |
23.03.2006 |
|
Particulars of the present
modification |
The charge is modified to
include additional of Rs. 7.500 millions |
Trade
References:-
·
Maruti
·
Suzuki
·
Hero
Honda
·
Kirloskar
Brothers
As Per Website Details :-
Company Overview
A Diversified Leading Engineering company in the field of
manufacturing Industrial Furnaces and Heat Treatment Services in India since
1993.
Furnace production
program covers
1) Batch and Continuous type Protective Atmospheric Furnaces,
2) Vacuum Furnaces for hardening, brazing, carburizing,
annealing, tempering and
3) Aluminium Melting and Heat Treatment Furnaces.
Technology Collaborations and marketing Tie ups with World
renowned Furnace manufacturing companies.
TUV – ISO 9001:2000 certified largest commercial Heat
Treatment Plant at Chakan/Pune serving auto and engineering sector.
Indo-German Vacu Treat Private Limited, a 50:50 Joint venture
between the company and Systherms Holding GmbH - Germany, for commercial Vacuum
Heat Treatment services at Chakan/Pune commissioned in 2007.
Profit making and dividend paying company since inception
Company Milestones
Subject incorporated in the year 1993, manufactures wide range
of Heat Treatment Furnaces and offers engineering solutions as a part of
turn-key project to engineering companies. The experience gained with eminent
customers in competitive domestic and international markets has formed the
basis of subject’s expertise. Head quartered at Thane/Mumbai. Subject has full
fledged Engineering facility with CAD and key corporate functions. Sales and
service functions are managed from four regional offices i.e Delhi, Jamshedpur,
Bangalore and Pune.
1993: Unitherm inception.
1995: Unitherm establishes its first modern
manufacturing Factory for Industrial Furnaces at Bommsandra, Bangalore.
1995: Unitherm entered into Technical Collaboration with
AICHELIN, Austria for Protective Atmosphere Furnaces.
1997: Unitherm entered into Technology and sales
co-operation with SYSTHERMS Germany for Vacuum furnaces.
1997: Unitherm became First Indian manufacturing Company
to export Complete Sealed Quench Furnace Plant to SCANA, Sweden, Europe.
2002: Unitherm entered into Technical Collaboration
with NIHON KOHNETSU INDL. CO. LIMITED., a leading Japanese furnace
manufacturing company for Aluminium Melting and Heat Treatment Furnaces.
2003: Company commenced commercial Heat Treatment
services from state-of-art Heat Treatment Plant at Chakan/Pune, to cater
automobile and engineering sector.
2004: Commercial Heat Treatment Plant at
Chakan/Pune is certified by TUV – ISO 9001:2000.
2006: Unitherm commences production of Industrial
Furnaces from second manufacturing unit at Bhosari/Pune.
2006: Unitherm establishes a new landmark – Sale
of 100 Sealed Quench Furnaces.
2006: Unitherm Establishes Indo - German
Vacu-Treat Private Limited. a 50:50 Joint venture with Systherms Holding GmbH -
Germany, for commercial Vacuum Heat Treatment services at Chakan/Pune.
2007: Unitherm awarded SME 1, highest level of
credit worthiness by CRISIL Limited.
2007: Unitherm receives India international Trade
Award – best emerging manufacturing unit in SME Sector.
2007: Achieves highest Annual Sales INR 400
Millions. (10 million USD). Top Line CAGR – 40% based on past five years.
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.
The 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. 42.33 |
|
UK Pound |
1 |
Rs. 84.32 |
|
Euro |
1 |
Rs. 66.75 |
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, they have no
basis upon which to recommend credit dealings |
No Rating |
|