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MIRA
INFORM REPORT
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Report Date : |
26.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
TWIN TECH (INDIA) PRIVATE LIMITED |
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Formerly Known As : |
TWIN TECH TRADING (INDIA) PRIVATE LIMITED |
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Registered Office : |
AB-57, Shalimar Garden, New Delhi – 110 088 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.12.2004 |
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Com. Reg. No.: |
55-130904 |
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CIN No.: [Company
Identification No.] |
U51909DL2004PTC130904 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTT00790G |
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PAN No.: [Permanent
Account No.] |
AACCT1495K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Traders of Industrial Products |
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. |
Small |
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Maximum Credit Limit : |
USD 1500 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company meeting its commitments slightly
over times as reported. Trade relations are fair. Scale of activity is
limited. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. P. K. Sharma |
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Designation : |
Director |
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Contact No.: |
91-9350236373 |
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Date : |
24.06.2008 |
LOCATIONS
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Registered Office : |
AB-57, Shalimar Garden, New Delhi – 110 088, India |
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Tel No. : |
91-120-4371050 |
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Fax No. : |
91-120-4371070 |
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E-Mail : |
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Website : |
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Corporate Office : |
H-75A, Sec – 12, Pratap Vihar, Ghaziabad – 201 009, Uttar Pradesh,
India |
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Tel. No.: |
91-120-2840276 / 6545141 / 3262765 |
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Fax No.: |
91-120-2840723 |
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Factory : |
R-52, UPSIDC, Industrial Area, Sikandrabad, Uttar Pradesh, India |
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Area : |
800 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Talewar Sharma |
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Designation : |
Director |
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Address : |
B-7159, Rahul Vihar Budh Nagar, Ghaziabad – 201 001, Uttar Peradesh,
India |
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Date of Birth/Age : |
28.10.1946 |
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Date of Appointment : |
02.12.2004 |
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Name : |
Mr. Pramod Kumar Sharma |
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Designation : |
Director |
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Address : |
H-75 A, Sec-12, Pratap Vihar, Ghaziabad – 201 001, Uttar Pradesh,
India |
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Date of Birth/Age : |
02.04.1973 |
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Date of Appointment : |
02.12.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
|
Pramod Kumar Sharma |
5000 |
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Talewar Sharma |
5000 |
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C L Sharma |
5000 |
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Total |
15000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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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 : |
Manufacturers and Traders of Industrial Products |
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Products : |
Petro Canada Lubricants - Uniquely designed to enhance part life,
improve reliability and save power ·
Premium Performance Greases ·
Food Grade Lubricants ·
Specialty Oils Sprayzet - Maintenance Products Silox- Lubes,Epoxies & Sealents ·
Silox Paste ·
Self-Fusing Ht Tape |
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Exports : |
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Countries : |
Pakistan |
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Imports : |
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Countries : |
·
U.S.A. ·
Europe ·
Turkey |
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Terms : |
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Selling : |
Credit – 30 days |
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Purchasing : |
Credit – 30 days |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
30 |
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Bankers : |
·
Punjab
National Bank AKP, Vijay Nagar, Ghaziabad – 201 001, Uttar Pradesh, India ·
ICICI Bank
Limited |
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Auditors : |
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Name : |
Rishi Kapoor and Company Chartered Accountants |
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Address : |
9 and 10 Advocate Chamber, Opp. Raj Nagar, Telephone Exchange RDC,
Ghaziabad – 201 001, Uttar Pradesh, India |
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Tel. No.: |
91-120-4371050 |
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Fax No.: |
91-120-4371070 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs.10/- each |
Rs.0.150 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.150 |
0.150 |
0.150 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.156 |
0.076 |
0.009 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.306 |
0.226 |
0.159 |
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LOAN FUNDS |
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1] Secured Loans |
0.078 |
0.117 |
0.000 |
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2] Unsecured Loans |
0.149 |
0.199 |
0.167 |
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TOTAL BORROWING |
0.227 |
0.316 |
0.167 |
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DEFERRED TAX LIABILITIES |
0.001 |
0.008 |
0.000 |
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TOTAL |
0.534 |
0.550 |
0.326 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.257 |
0.264 |
0.025 |
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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 |
1.005
|
0.275 |
0.312 |
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Sundry Debtors |
2.585
|
1.707 |
0.410 |
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Cash & Bank Balances |
0.311
|
0.297 |
0.049 |
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Other Current Assets |
0.273
|
0.034 |
0.025 |
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Loans & Advances |
1.859
|
0.240 |
0.028 |
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Total
Current Assets |
6.033
|
2.553 |
0.824 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.659
|
2.247 |
0.537 |
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Provisions |
0.106
|
0.034 |
0.005 |
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Total
Current Liabilities |
5.765
|
2.281 |
0.542 |
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Net Current Assets |
0.268
|
0.272 |
0.282 |
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MISCELLANEOUS EXPENSES |
0.009 |
0.014 |
0.019 |
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TOTAL |
0.534 |
0.550 |
0.326 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
15.564 |
9.571 |
1.112 |
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Other Income |
0.000 |
0.001 |
0.000 |
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Total Income |
15.564 |
9.572 |
1.112 |
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Profit/(Loss) Before Tax |
0.196 |
0.107 |
0.014 |
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Provision for Taxation |
0.117 |
0.039 |
0.005 |
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Profit/(Loss) After Tax |
0.079 |
0.068 |
0.009 |
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Expenditures : |
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Depreciation & Amortization |
0.075 |
0.042 |
0.000 |
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Other Expenditure |
15.293 |
9.423 |
0.000 |
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Total Expenditure |
15.368 |
9.465 |
1.098 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.51
|
0.71 |
0.81 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.26
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1.12 |
1.26 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.12
|
3.80 |
1.65 |
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Return on Investment (ROI) (PBT/Networth) |
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0.64
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0.47 |
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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19.58
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11.49 |
4.46 |
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Current Ratio (Current Asset/Current Liability) |
|
1.05
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1.12 |
1.52 |
LOCAL AGENCY
FURTHER INFORMATION
Register Office of the company has been shifted from B-33/1, Gali No. 2, Arjun Mohalla, Mauzpur,
Delhi – 110 053, India to the present address with effect from 06.12.2007.
Trade
References :
Water Engineering and Management Services
Form
No. 8
|
Corporate
identity number of the company |
U51909DL2004PTC130904 |
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Name of the
company |
TWIN TECH TRADING (INDIA) PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
B-33/1, Gali No.
2, Arjun Mohalla, Mauzpur, Delhi – 110 053, India |
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This form is for |
Creation of
charge |
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Type of charge |
Others |
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Particular of
charge holder |
Punjab National
Bank AKP, Vijay Nagar,
Ghaziabad – 201 001, Uttar Pradesh, India |
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Nature of
instrument creating charge |
Hypothecation of
Goods to secure a Demand Cash Credit dated 06.01.2007 and Agreement for Loan
dated 06.01.2007 |
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Date of instrument
Creating the charge |
06.01.2007 |
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Amount secured by
the charge |
Rs.0.600 million |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
Interest BPLR – 0.50 i.e. @ 11.25% ·
Terms of
repayment Renewal every year ·
Margin 25% ·
Extent and
operation of the charge 100% |
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Description of
the property charged indicating whether it is a charged on |
Immovable
properties |
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Particulars of
the property charged |
Hypothecation of Goods
of Lubricants, Tapes, Phnematic goods, Engg.goods consumables at H-75A,
Sector 12, Pratap Vihar, Ghaziabad. |
Web
Details :
Subject is a manufacturing and supplying of aerosols
and sprays in a multitude of industrial application. Biodegradable, user &
environment friendly, all their sprays are custom designed for easy use. They
promote the aerosols for different applications under the registered brand name
of SPRAYZET. They also do contract aerosol packaging for a variety of companies
and industries, with extensive private label aerosol filling / packaging
capabilities. They have earned a good reputation in the industry through their
committed and outstanding customer management system and have created a
benchmark as a manufacturer of various industrial aerosols.
Subject is being managed by a team of qualified
engineers and driven by technology, they have created sprays which are ideal for
all industrial applications. They are not only high on performance but fully
serve the purpose they are meant for. Constructed with sophisticated
manufacturing techniques, their high pressure sprays are built to last. They
stand ahead, in terms of quality and innovation of the existing product range.
Customer Focus
Subject is a private corporation that has realized
tremendous growth both in the number of products offered and the number of
customers served. The main reason for this growth as an aerosol manufacturer is
their unwavering commitment to providing complete customer satisfaction. The
Sprayzet Products line is specifically designed to help eliminate cost delays,
speed repair time, reduce labor costs and make your job easier and faster.
Before our products reach their customers, they are lab and field tested to
assure that they meet the highest performance standards. Their philosophy
includes:
- Dedication to quality
- Competitive pricing
- Unmatched customer service
All
the aerosols are available under the registered brand “Sprayzet” or can
be packaged under your private label.echanized manufacturing unit is operated
under the guidance of technical expertise and their products are regularly
checked in labs before they are dispatched for final packaging. Their
technocrats also ensure the pressure of the sprays and that they are leak
proof, safe and easy to use.
Network
“Twin-Tech” represents leading global players such as:
Petro-Canada Lubricants
Deals in all kinds of lubricants both mineral and synthetics like specialty engine oil, gear oil, hydraulic oil, compressor oil, heat transfer fluid, cutting oil, high temperature, food grade greases and oils etc.
Website: www.petro-canada.com
Tesa Industrial Tapes
Deals in all kinds on industrial tapes like Double sided polyesters tape, Double sided tissue tape, Double sided foam tape, Plate mounting tape, Floor marking tape, Packaging tape, Masking tape, Duct tape
Website: www.tesatapes.com
Diffusion Welding Electrodes
Deals in all kinds of specialty welding electrodes like Lo-Temp and antiwear welding electrodes, Cast Iron, Hard facing, Stainless steel, Cutting & Gauging, Wear plates, Flux cored wire, Colmonoy powder & coated electrodes, Super spray System for thermal spraying, SOA-Containing the unique ultra hard chromium borides
Website: www.diffusionengineers.com
Camozzi Pneumatics Goods
Deals in all kind of pneumatics
goods like Pneumatic actuator, Pneumatic Fittings, Pneumatic Cylinders,
Pneumatic valves, Pneumatic Tubeing, Pneumatic FRL
Website: www.camozzi.com
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 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.42.82 |
|
UK Pound |
1 |
Rs.84.27 |
|
Euro |
1 |
Rs.66.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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 |
|