MIRA
INFORM REPORT
|
Report Date : |
30.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TRISTAR INTECH PRIVATE LIMITED |
|
|
|
|
Registered Office : |
J-10, Saket, New Delhi- 110017 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Year of Establishment : |
3.04.2003 |
|
|
|
|
Com. Reg. No.: |
55-119728 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U72203DL2003PTC119728 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELT04028D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCT8046R |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Provide Specialized Services to the
Construction Industry |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
– established company having satisfactory track. Trade relations are fair.
Payments are correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
|
Name : |
Ms. Devayani and Mr.Samir |
|
Date : |
10.05.2008 |
LOCATIONS
|
Registered Office : |
J-10, Saket, New Delhi
110 017 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Plot No. 4, 1st
Floor, Kehar Singh Estate, Westend Marg, Saidula Jab, M.B. Road, New Delhi -
110 030 |
|
Tel. No.: |
91-11-2953 3734,
2653 1899, 4166 4480, 4166 4478 |
|
Fax No.: |
91-11-2953 3733 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Mumbai |
206/207, Balaji
Arcade, S V Road, Kandivali (W), Mumbai, Maharashtra |
|
Mobile No.: |
91-9322106451 |
|
E-Mail : |
|
|
|
|
|
Chennai |
MIG Block, 90B,
T.T. Rajan Road, K.K. Nagar, Chennai 600 078, Tamil Nadu, India |
|
Mobile No.: |
91-9840014409 |
|
E-Mail : |
|
|
|
|
|
Bangalore |
Sanjay Towers,
216, Subbaramachetty Road, Near Nattakalappa Circle, Basavangudi, Bangalore
560004, Karnataka |
|
Tel. No.: |
91-80- 41471187 |
DIRECTORS
|
Name : |
Mr. Vijay
Vasudeva |
|
Designation : |
Director |
|
Address : |
J-10, Saket, New
Delhi 110 017 |
|
Date of Birth/Age : |
14.04.1948 |
|
Date of Appointment : |
03.04.2003 |
|
|
|
|
Name : |
Mr. Samir
Vasudeva |
|
Designation : |
Director |
|
Address : |
J-10, Saket, New
Delhi 110 017 |
|
Date of Birth/Age : |
29.11.1974 |
|
Date of Appointment : |
03.04.2003 |
|
|
|
|
Name : |
Ms. Kusum
Vasudeva |
|
Designation : |
Director |
|
Address : |
J-10, Saket, New
Delhi 110 017 |
|
Date of Birth/Age : |
20.07.1947 |
|
Date of Appointment : |
03.04.2003 |
KEY EXECUTIVES
|
Name : |
M/s Kiran Sharma
& Company |
|
Designation : |
Company Secretary |
|
Address : |
E-868,
Chittranjan Park, New Delhi – 110 019 |
|
Tel. No.: |
91-11-2627 9550,
3092 3295 |
|
E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Vasudeva |
|
45000 |
|
Samir Vasudeva |
|
112500 |
|
Kusum Vasudeva |
|
5000 |
|
Triumph Infrastrcture Private Limited |
|
445500 |
|
Genuine Infrastructure Private Limited |
|
222000 |
|
Total |
|
830000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage |
|
Bodies corporate (not mentioned above) |
|
80.00 |
|
Directors or relatives of Directors |
|
20.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provide Specialized Services to the
Construction Industry |
|
|
|
|
Imports : |
|
|
Countries : |
Belgium and other
European countries |
GENERAL
INFORMATION
|
Customers : |
Delhi Metro |
|
|
|
|
Bankers : |
v
Citi Bank v
ICICI Bank
Limited v
UCO Bank v
Punjab National
Bank, NSCI Bhawan, Okhla Industrial Estate, New Delhi-110020, Delhi, India v
HDFC Bank
Limited |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
M/s Sanjay Sharma
and Associates Chartered
Accountants |
|
Address : |
A-370, Kalkaji, New Delhi-110019 |
|
Tel. No.: |
91-11-41329834 / 32923295 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 30.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,000,000 |
Equity Shares |
Rs.10.- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
830000 |
Equity Shares |
Rs. 10/-each |
Rs. 8.300
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 |
8.300 |
8.300 |
7.500 |
|
|
2] Share Application Money |
14.861 |
14.891 |
0.119 |
|
|
3] Reserves & Surplus |
22.502 |
18.011 |
12.875 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
45.663 |
41.202 |
20.494 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
30.570 |
18.601 |
5.146 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
30.570 |
18.601 |
5.146 |
|
|
DEFERRED TAX LIABILITIES |
2.833 |
2.227 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
79.066 |
62.030 |
25.640 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
30.916 |
31.030 |
24.756 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
52.658
|
25.876 |
14.024 |
|
|
Sundry Debtors |
67.618
|
30.980 |
26.989 |
|
|
Cash & Bank Balances |
5.432
|
4.829 |
6.223 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.912
|
6.747 |
5.993 |
|
Total
Current Assets |
133.620
|
68.432 |
53.229 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
83.004
|
36.189 |
51.372 |
|
|
Provisions |
2.545
|
1.354 |
1.117 |
|
Total
Current Liabilities |
85.549
|
37.543 |
52.489 |
|
|
Net Current Assets |
48.071
|
30.889 |
0.740 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.079 |
0.111 |
0.144 |
|
|
|
|
|
|
|
|
TOTAL |
79.066 |
62.030 |
25.640 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
|
|
|
|
|
|
Sales Turnover |
157.656 |
117.254 |
|
|
|
Other Income |
0.911 |
0.241 |
146.706 |
|
|
Total Income |
158.567 |
117.495 |
|
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
7.642 |
3.217 |
4.749 |
|
|
Provision for Taxation |
3.151 |
5.281 |
0.871 |
|
|
Profit/(Loss) After Tax |
4.491 |
[2.064] |
3.878 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Trading and Direct Expenses |
145.306 |
100.263 |
|
|
|
Administrative Expenses |
23.436 |
17.108 |
|
|
|
Selling Expenses |
0.264 |
2.084 |
|
|
|
Deferred Revenue Expenses W/Off |
0.029 |
0.029 |
141.957 |
|
|
Preliminary Expenses W/Off |
0.004 |
0.004 |
|
|
|
Financial Charges |
3.162 |
1.967 |
|
|
|
Increase/(Decrease) in Finished Goods |
[26.782] |
[11.900] |
|
|
|
Depreciation & Amortization |
5.506 |
4.723 |
|
|
Total Expenditure |
150.925 |
114.278 |
141.957 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.83
|
[1.75] |
2.64 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.73
|
2.74 |
3.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.64
|
3.23 |
4.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.07 |
18.92 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.54
|
1.36 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.82 |
1.01 |
LOCAL AGENCY FURTHER
INFORMATION
Trade
Reference
The subject is an
Authorised Distributor for BASF Chemical Company
Services
The subject company
provides the following services to its customers
v
Services
v
Expansion
Joints & Joint Sealing
v
Water Proofing
v
Water Repellent
& Anti Graffiti Treatment
v
Thermal
Insulation
v
Controlled
Dismantling of Structures
v
Structural
Rehabilitation & Earth Quake Retro-fitment
v
Polypropylene
& Steel Fibres
v
Industrial
Flooring
v
Precision
Grouting
Profile:
Tristar has come to lead the way in the construction industry by
providing specialized services with the use of materials and products that are
globally competitive.
Other factors that account for this success are:
- Specialized
team of trained civil engineers with full technical support
- National
market base
- Up-to-date
equipment
- Sourcing
offices in Belgium and Dubai
- High quality
processes and systems
- Stringent
project supervision and management
- Continuous
training programmes
Bankers Charges
Report as per Registry
|
Name of the company |
M/S TRISTAR
INTECH PRIVATE LIMITED |
|
Presented By |
DIRECTO
(hereinafter referred to as “The Company”) |
|
1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Goods, Book Debts to Secure Cash Credit Facility Dated
01.09.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 6.000
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 |
|
|
4) Gist of the terms and conditions and extent and operation of the charge. |
|
|
5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank, Okhala Industrial Estate, New Delhi-110020 |
|
6) Date and brief description of instrument modifying the charge |
Agreement of
Hypothecation of moveable assets forming part of fixed/ block assets dated
01.09.2005 |
|
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. |
The said Cash
Credit Limit of Rs. 6.000 Millions is collaterally secured by hypothecation
by all fixed/block assets, both present and future described in general terms
in the schedule particularly all the SFF and FF items purchased/ further to
be purchased by company including all which now or hereafter during the
continuance of this agreement shall be brought in stored or be in or about
their premises/ godowns at Delhi including in transit. |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
90058971 |
|
Corporate identity
number of the company |
U72203DL2003PTC119728 |
|
Name of the
company |
TRISTAR INTECH
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
J-10, Saket, New
Delhi-110017, India |
|
Type of charge |
Movable
Property (not being pledge) |
|
Particular of
charge holder |
Punjab National
Bank, NSIC Bhawan, Okhala Industrial Estate, New Delhi-110020, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation to Secure LC on DA Basis |
|
Date of
instrument Creating the charge |
22.04.2008 |
|
Amount secured by
the charge |
Rs. 9.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest /
commission as per Bank rules Terms of
Repayment Payable of Demand Margin As per Prescribed
by Bank Extent and
Operation of the charge The Charge
operates as Security as Exclusively first Charge in Favour of PNB Others This is to secure
letter of credit limit of Rs. 9.000 Millions |
|
Short particulars
of the property charged |
Hypothecation of
assets described in general terms in the schedule here to particularly good/
assets represented by documents drawn/covered under letter of credit issued
under the above said limit and various raw materials, stock in process and
semi finished good, finished goods, packing materials, consumable stores,
capital goods, belonging to borrower, which now or hereafter from time to
time during the continuance of this
Agreement shall be brought at Delhi or any other godown including in transit. |
|
Date of latest
modification prior to the present modification |
19.02.2007 |
|
Particulars of
the present modification |
The letter of Credit
Limit stands Reduced from Rs. 10.000 Millions to 9.000 Millions the said
limit is to be availed within BG limit of Rs. 29.000 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.77 |
|
UK Pound |
1 |
Rs.84.33 |
|
Euro |
1 |
Rs.66.65 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|