MIRA
INFORM REPORT
|
Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ROTEC TRANSMISSIONS PRIVATE LIMITED |
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Registered Office : |
123, HIG, BHEL Township, R C Puram, Hyderabad 500 032, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.07.1984 |
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Com. Reg. No.: |
4858 |
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CIN No.: [Company
Identification No.] |
U24119AP1984PTC004858 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDR01155A |
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PAN No.: [Permanent
Account No.] |
AAACR9586R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Precision Engineered Industrial Gears. |
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 46360 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company. Trade relations are
fair. Payments are made regularly as reported. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Rajeshwar Rao |
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Designation : |
Accountant |
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Date : |
23.05.2008 |
LOCATIONS
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Registered Office/ Factory : |
123, HIG, BHEL Township, R C Puram, Hyderabad 500 032, Andhra Pradesh,
India |
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Tel. No.: |
91-40-23021729 |
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Mobile No.: |
91-9393300600 |
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Fax No.: |
91-40-23021227 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branches : |
Shed No. 2, Phase 3, I. D. A Patancheru,
Hyderabad - 502 319, Andhra Pradesh, India |
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Tel. No.: |
91-8455-242117 |
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Fax No.: |
91-8455-240837 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Gopi Raju Kodali |
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Designation : |
Chairman and Managing Director
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Address : |
123, HIG, BHEL Township, R C Puram, Hyderabad 500 032, Andhra Pradesh,
India |
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Date of Birth/Age : |
08.05.1931 |
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Date of Appointment : |
02.07.1992 |
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Name : |
Mrs. Aruna Kodali |
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Designation : |
Director |
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Address : |
3-204, Divya Shakti Apartments, Ameerpet, Hyderabad 500 016, Andhra
Pradesh, India |
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Date of Birth/Age : |
26.11.1958 |
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Date of Appointment : |
25.04.1988 |
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Name : |
Mr. Bala Kumari Kodali |
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Designation : |
Director |
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Address : |
123, HIG, BHEL Township, R C Puram, Hyderabad 500 032, Andhra Pradesh,
India |
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Date of Birth/Age : |
15.08.1938 |
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Date of Appointment : |
16.03.2005 |
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Name : |
Mr. Bhushan Kodali |
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Designation : |
Director |
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Address : |
3-204, Divya Shakti Apartments, Ameerpet, Hyderabad 500 016, Andhra
Pradesh, India |
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Date of Birth/Age : |
07.08.1957 |
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Date of Appointment : |
16.03.2005 |
KEY EXECUTIVES
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Name : |
Puttaparthi Jagannatham and Company |
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Designation : |
Company Secretary |
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Address : |
315, Bhanu Enclave, Adj. ESI Hospital, Erragadda, Hyderabad, Andhra
Pradesh, India |
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Tel. No.: |
91-40-23701964 |
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Fax No.: |
91-40-23701374/ 23833265 |
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E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2005
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Names of Shareholders |
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No. of Shares |
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Mr. K. Bhushan |
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4450 |
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Mrs. K. Aruna |
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2250 |
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Mrs. K. Balakumari |
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1500 |
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Mr. K. Gopiraju |
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5110 |
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Mr. J. Prasad |
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150 |
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Mr. K. Purnachand |
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1540 |
As on 31.03.2007
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Names of Shareholders |
|
Percentage of
Holding |
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|
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Directors or Relative of Directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Precision Engineered Industrial Gears. |
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Products : |
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Terms : |
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Selling : |
On Credit upto 30 days basis |
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Purchasing : |
On Credit upto 30 days basis |
GENERAL
INFORMATION
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Customers : |
Some of major clients includes: Public sector units:
Private sector units:
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No. of Employees : |
Around 40 |
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Bankers : |
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Financial Institution : |
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Facilities : |
Subject enjoys C/C facilities from Vijaya Bank. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V Gopinatha Rao and Associates Chartered Accountants |
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Address : |
306, 3rd Floor, Tilak Road, ABIDS, Hyderabad 500 001,
Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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20,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
15,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
|
1.500 |
1.500 |
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2] Share Application Money |
|
3.111 |
2.243 |
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3] Reserves & Surplus |
|
6.979 |
0.859 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
11.590 |
4.602 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.224 |
0.224 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
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0.224 |
0.224 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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18.814 |
4.826 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.214 |
1.770 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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8.904 |
4.187 |
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Sundry Debtors |
|
3.609 |
4.051 |
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Cash & Bank Balances |
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3.803 |
0.728 |
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Other Current Assets |
|
0.536 |
0.870 |
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Loans & Advances |
|
1.240 |
0.040 |
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Total
Current Assets |
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18.092 |
9.876 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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10.492 |
6.820 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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10.492 |
6.820 |
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Net Current Assets |
|
7.600 |
3.056 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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11.814 |
4.826 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
58.923 |
41.480 |
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Other Income |
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0.014 |
0.003 |
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Total Income |
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58.937 |
41.483 |
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Profit/(Loss) Before Tax |
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5.206 |
2.170 |
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Provision for Taxation |
|
2.298 |
0.960 |
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Profit/(Loss) After Tax |
|
2.908 |
1.210 |
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Expenditures : |
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Financial Charges |
|
0.874 |
0.527 |
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Depreciation & Amortization |
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1.031 |
0.715 |
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Other Expenditure |
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51.826 |
38.071 |
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Total Expenditure |
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53.731 |
39.313 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
4.93
|
2.91 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
8.83
|
5.23 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
--
|
9.73 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
--
|
0.18 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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--
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1.92 |
2.53 |
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Current Ratio (Current Asset/Current Liability) |
|
--
|
1.72 |
1.45 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL
ACCEPTANCE CHART
|
Parameters |
Details |
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Statutory
Approvals |
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Central Tax Registration |
NZB/07/021124 |
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Vat/ TIN Registration |
28530181502 |
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Name of Bank |
Vijaya Bank |
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Account Since |
10 Years |
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Employee PF Registration Number |
Andhra Pradesh / PTC 200006 |
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Company ESI Registration Number
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52-5623-66 |
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Credibility Factors
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IndiaMart Client Since |
1 Year |
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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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Chambers of Commerce Membership |
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 |
Yes |
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Product Certificates |
Yes |
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Other Certificates |
Yes (ISO Certificated - 99) |
FORM 8
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Name of the company |
ROTEC TRANSMISSIONS PRIVATE LIMITED |
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Presented By |
Mrs. K. Aruna, Director |
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1) Date and description of instrument creating the change |
1] Deed of hypothecation dared 06.08.2005 India which 1st charge has been made on new plant and machinery to APSFC 2] Deed of hypothecation dated 06.08.2005 India which 1nd charge has been made on existing plant and machinery and land and buildings to APSFC |
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2) Amount secured by the charge/amount owing on the securities of charge |
1] Term Loan for Rs. 2.959 millions 2] Term Loan for Rs. 2.959 millions |
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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 |
Primary security: The corporation’s term loan of Rs. 2.959 millions shall be secured by hypothecation of proposed plant and machinery exclusively India favour of the corporation. The applicant company has NOC from Vijaya Bank, Chandanagar Branch for the proposed term loan fro the corporation along with ingress and aggress rights India favour of the corporation. The company has second charge India the unit from Vijaya Bank, Chandanagar Branch, India favour of the corporation. Collateral Security: The company shall be offer collaterally security worth Rs. 1.776 millions being 60% of the term loan. The company proposed to offer industrial plot along with buildings thereon bearing No. 79, Phase III, IDA, Patancheru admeasuring 1166.57 sq. yards which is owned by Balaji Drives Limited Guarantors: The corporation term loan shall be guaranteed by the following Promoter Director India their individual capacity. Mr. K. Gopi Raju Mr. K. Bhushan Mrs. K. Bala Kumari Ms. K. Aruna |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The loan shall be repaid India 9 quarterly installments payable on 1st march, 1st June, 1st September and 1st December as under: 1st one installment @ Rs. 0.319 million and subsequent 8 installment @ Rs. 0.330 million each Repayment shall commence after one year from the date of disbursements of any part of the loan. Rate of Interest: Interest shall be payable every quarter ending 31st January, 30th April, 31st July and 31st October at the following rate: The rate of interest applicable for the sanction amount is at 13.75% p.a. and such other terms and conditions. |
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5) Name and Address and description of the person entitled to the charge. |
Andhra Pradesh State Financial Corporation 22-95, Reddy Complex, Ramachandrapuram, Hyderabad 500 032, Andhra Pradesh, India |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
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This form is for |
Modification of charge |
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Charge Identification (ID) number of the charge to be modified |
90129647 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U24119AP1984PTC004858 |
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Name of the company |
ROTEC TRANSMISSIONS PRIVATE LIMITED |
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Address |
123, HIG, BHEL Township, R C Puram, Hyderabad 500 032, Andhra
Pradesh |
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Type of Charges |
Hypothecation |
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Whether consortium finance is involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Vijaya Bank Chanda Nagar, Hyderabad 500 050, Andhra Pradesh, India |
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Date of the instrument modifying the charge |
05.04.2006 |
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Amount Secure by the charge |
Rs. 0.600 million |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: Terms of repayment: Margin: Extent and operation of the charge: Others: |
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Description of the property charge indicating whether it is a charge on |
Immovable properties, stock India trade, plant and machinery, book debts |
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Particulars of the Property charged |
The securities offered stocks raw materials and book debts as mentioned India hypothecation deed dated 16.10.1998 |
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Brief description of the instrument modifying the charge under section 135 |
Agreement for demand cash credit against hypothecation of stocks and book debts dated 05.04.2006 Hypothecation agreement dated 05.04.2006 |
Trade References:
- Bokaro Steel Plant, Jharkhand
- Rourkela Steel Plant, Orissa
- Vishakha Patnam Steel Plant, vizag, Andhra Pradesh
AS PER WEB:
Profile
Incepted in the year 1984, subjects have developed us as one of the eminent
manufacturers and exporters of precision engineered industrial gears. They are
guided by mentor Mr.K.Gopi Raju (Former GM BHEL) who has years of industry
experience. Their manufacturing unit is fitted with many advanced machines that
are imported from foreign countries such as USA and Germany. To ensure the
quality of the product we conduct special tests like chemical mechanical and
ultrasonic are carried out in the labs recognized by prestigious organizations
like Boiler Inspectorate, A.P.,LRIS,Ministry of Defence,Bureau of Veritas,Tata
Projects etc.
The R&D division works conscientiously to contribute to the engg industry
by designing and developing dimensionally accurate products. They are
effectively catering to the various private and public sectors clients such as
Vishakapatnam Steel Plant,Bokaro Steel Plant,Bhilai Steel Plant and many such
leading players of steel industry.
Industries Catered
The products are known for their quality, and high performance. These
features make them high in demand in various domestic and international
industries, which include following:
- Steel Mills
- Power Plants
- Coal Mines
- O.E.Ms
- Wind Mills
- Fertilizer
Plants
- Sugar
Industries
- Paper
Industries
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.43.15 |
|
UK Pound |
1 |
Rs.85.08 |
|
Euro |
1 |
Rs.68.10 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|