MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
STAR TRACE PRIVATE LIMITED |
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Registered Office : |
No.1186, Thiruvallur High Road, M.A. Nagar, Red Hills, Chennai – 600052,
Tamilnadu |
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Country : |
India |
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Date of Incorporation : |
03.09.1998 |
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Com. Reg. No.: |
18-041085 |
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CIN No.: [Company
Identification No.] |
U51103TN1998PTC041085 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Magnetic Equipments, Vibratory
Equipments and food processing equipments |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderated track. It’s payments
are slow to suppliers. Financial position is undetermined due to non
availability of financial details. It would be prudent to deal with the company for small to mediocre
business dealings at usual trade terms and conditions. The company has not filed its financials with the government
departments and Mr. Maheshwaran though parted general information, declined
to part with financials. |
INFORMATION PARTED
BY [General Details]
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Name : |
Mr. P R Maheshwaran |
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Designation : |
Director |
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Contact No.: |
91-9380521576 |
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Date : |
30.05.2008 |
LOCATIONS
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Registered Office : |
No.1186, Thiruvallur High Road, M.A. Nagar, Red Hills, Chennai –
600052, Tamilnadu |
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Tel. No.: |
91-44-26418456 / 9439 / 26323523 |
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Mobile No.: |
91-9841015456 / 9380521576 |
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Fax No.: |
91-44-26419439 / 24818340 |
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Email : |
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Website : |
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Area : |
4000 sq.fts |
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Location : |
Owned |
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Factory: |
No.146 / 3, Musk Street, Red Hills, Chennai – 600052 |
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Area : |
10000sq.fts |
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Location : |
Rented |
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Factory: |
No. 7, Jeevanandam Street, Red Hills, Chennai – 600052, Tamilnadu |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. P R Maheshwaran |
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Designation : |
Director |
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Address : |
1186, Thiruuallur High Road, M. A. Nagar, Chennai – 600052 |
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Date of Birth/Age : |
25.10.1969 |
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Qualification : |
BE |
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Date of Appointment : |
03.09.1998 |
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Name : |
Mr. K. Parthiban Rasu |
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Designation : |
Director |
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Address : |
50, Abdul Marikkar Street, Red Hill, Chennai 600052 |
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Date of Birth/Age : |
12.05.1948 |
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Qualification : |
BA |
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Date of Appointment : |
03.09.1998 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Magnetic Equipments, Vibratory
Equipments and food processing equipments |
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Products : |
Magnetic Equipments include :- © Rare Earth Magnets © Alnico Magnet © Ferrrite Magnet © Therapy Magnet © Demagetizer © Magnetizer © Gauss Meter © Borewell Magnet © Magnetic Separator Roll © Suspended Magnet © Shifter Magnet © Oil skimmer © Magnetic Welding Clamps © Magnetic Sheet Fanner © Magnetic Rack © Magnetic Plate © Magnetic Links © Magnetic Floor Sweeper © Wet/ Magnetic Drum Separators © Magnetic Coolant Separators © Magnetic Chucks © Magnetic Hopper © Lifting Magnet © Hump Magnet © Funnel Magnet © Over Band Magnetic Separators © Circular Lifting Magnets © Antiscale Water Treatment Magnets © Magnetic Pulley Vibrating Equipments include :- © Vibratory Motors © Vibrating Feeders © Vibro Screen © Vibrating Table © Bin Vibrator © Screen Separator © Electro Mechanical Feeders © Electro Magnetic Feeders © Bump Testing Mechanical Feeders © Grizzly/Reciprocating Feeder © Vibrating Shifter © Vibrating Test Bed © Vibrating Tumpler Screening Machine © Vibration Meter © Vibratory Roller © Vibro Energy Finishing Machine © Test Sieve Shaker © Dewatering Feeders Other Equipments include :- © Mineral Water Processing and Packaging Systems © Ribbon Blenders © Destoner © Mixer © Pouch Packaging Machine © Computer Stationary and Printing Machine © Vessels © Reactors © Crushers © Machinery for Cashewnet Processing and Packaging the Multifeed ZD |
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Exports : |
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Products : |
Magnetic Equipments, Vibratory Equipments |
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Countries : |
South Asian Country, Gulf and African Countries |
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Imports : |
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Products : |
Raw Materials and Megnets |
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Countries : |
Germany, USA, UK, China |
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Terms : |
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Selling : |
T/T, Cash, Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
85 |
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Bankers : |
State Bank of India Ambattur, Industrial Estate Branch, Chennai 600 053, Tamilnadu State Bank of India SECC Park Town Branch, Evening Bazar Road, Chennai 600 003, Tamilnadu |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Y Ramesh Babu and Company Chartered Accountants |
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Address : |
569, Purasawalkam High Road, Arumbakkam, Chennai- 600 106,Tamilnadu, India |
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Name : |
Muktan Associates Chartered Accountants |
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Address : |
Chennai, Tamilnadu, India |
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Associates/Subsidiaries : |
© Star Trace
Engineering Division, Chennai Line of Business: Same © 1 Engineering,
Chennai Line of Business: Servicing of Engineering Equipments © Raja Vikram Tea,
Chennai Line of Business: Marketing of Tea ABY System, Chennai Line of Business: Turnkey Project – Magnetic and Vibrating Equipments |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.10/- each |
Rs.0.150 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 [Approximately] |
31.03.2007 |
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Sales Turnover |
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100.000 |
14.800 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Reliance Industries
- Tata Group
- Essar Steel
- Jindal Group
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U51103TN1998PTC041085 |
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Name of the
company |
STAR TRACE PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
No.1186, Thiruvallur High Road, M.A. Nagar, Red Hills, Chennai – 600052,
Tamilnadu |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
State Bank of India SECC Park Town Branch, Evening Bazar Road, Chennai 600
003, Tamilnadu |
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Nature of instrument
creating charge |
Agreement of Loan
cum hypothecation |
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Date of
instrument Creating the charge |
17.08.2006 |
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Amount secured by
the charge |
Rs. 2.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Cash Credit – Rs.
2.000 Millions Rate of interest
@ 11.75 % p.a. |
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Description of
the property charged indicating whether it is a charged on |
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Particulars of
the property charged |
Hypothecation in
favour of Bank on all present and future stocks, raw materials, goods, book
debts and vehicles and all other movable assets of the borrower including
receivables, documents of title to goods, outstanding monies, bills invoices,
documents, contracts, insurance policies, engagements, securities,
investments and rights and the present and future machineries to secure the
above sanctioned limit of Rs. 2.000 Millions |
CMT REPORT (Corruption,
Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.53 |
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UK Pound |
1 |
Rs.83.44 |
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Euro |
1 |
Rs.66.18 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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29 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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