MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRIVENI HI TECH PRIVATE LIMITED |
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Registered Office : |
664, Sri Malleshrudra Complex, Chickpet, Bangalore 560053, Karnataka. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.06.1996 |
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Com. Reg. No.: |
020645 |
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CIN No.: [Company
Identification No.] |
U72200KA1996PTC020645 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT01136C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Industrial Components |
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 62820 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payments are usually
correct and as per commitment. Nothing adverse reported. The Company can be Considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
664, Sri Malleshrudra Complex, Chickpet, Bangalore 560053, Karnataka. |
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Tel. No.: |
91-80-28361471, 28361856 |
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Fax No.: |
91-80-28361470, 28364386 |
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E-Mail : |
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Corporate Office : |
# B-169 and 173, 4th Main 2nd Stage, Peenya
Industrial Estate Bangalore-560058, Karnataka, India. |
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Tel. No.: |
91-80-28361856/28364386 |
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Fax No.: |
91-80-28361470 |
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E-Mail : |
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Website : |
www. Trivenihitech.com |
DIRECTORS
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Name : |
Mr. Shiva Kumar |
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Designation : |
Director |
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Address : |
Plot No. 230 14th cross Mclayout Vijaya Nagar, Bangalore 560040, Karnataka. |
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Date of Birth/Age : |
01.04.1948 |
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Date of Appointment : |
14.06.1996 |
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Name : |
Mr. K Satish Kumar |
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Designation : |
Director |
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Address : |
Plot No. 601 3rd Main, 3rd Blockkrs Gowda
extension, Bangalore 560040, Karnataka. |
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Date of Birth/Age : |
12.10.1960 |
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Date of Appointment : |
14.06.1996 |
KEY EXECUTIVES
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Name : |
Mr. V V Krishnamurthy |
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Designation : |
Company Secretary |
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Address : |
No. 5/1, Opp. Brilliant’s College, Kattriguppe, BSK III stage,
Banglore 560085 |
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E- Mail : |
vckmurthy@gmail.com |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. N M Shivakumar |
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155000 |
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Mr. K Satish Kumar |
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155000 |
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Total |
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310000 |
Equity Share Breakup ( percentage of total equity :
( As on 28.09.2007 )
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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 : |
Manufacturing of Industrial Components |
GENERAL
INFORMATION
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No. of Employees : |
70 |
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Bankers : |
·
Karnataka Bank Limited Near Balepet Post
office, Chikpet, Bangalore 500053, Karnataka, India. ·
ICICI Bank ·
State Bank of Mysore SME Branch, No.220, Double Road, Peenya
Industiral Area, Bangalore 560058, Karnataka, India. |
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Auditors : |
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Name : |
·
Mr. H N Anand Rao |
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Address : |
42, Rajeshwari Apartments, Westpark Road, Mallesshwaram, 14th
Cross, Bangalore 560003 Karnataka. |
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Name : |
·
ABC and Company |
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Address : |
No. 32-G3, 11th Main, 15th Cross, Malleswaram
Bangalore 560055, Karnataka. |
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Associates/Subsidiaries
: |
Ø TRIVENI
INDUSTRIES.
# B-169 and 173, 4th Main 2nd Stage, Peenya
Industrial Estate, Bangalore 560058, Karnataka, India. Ø VIJAYA METAL
FINISHERS. #365,10th Cross 4th
Phase Peenya Industrial Estate, Bangalore 560058, Karnataka, India. Tel : 91-80-28361469, 91-80-2861282 Website : www.vijayametals.com |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- Each |
10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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310000 |
Equity Shares |
Rs. 10/-
Each |
3.100
Millions |
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 |
3.100 |
3.100 |
0.002 |
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2] Share Application Money |
4.323 |
10.029 |
3.410 |
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3] Reserves & Surplus |
5.141 |
4.215 |
3.449 |
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4] (Accumulated Losses) |
0.000 |
0.00 |
0.000 |
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NETWORTH |
12.564 |
17.344 |
6.861 |
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LOAN FUNDS |
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1] Secured Loans |
18.276 |
15.076 |
12.095 |
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2] Unsecured Loans |
7.500 |
2.241 |
0.000 |
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TOTAL BORROWING |
25.776 |
17.317 |
12.095 |
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DEFERRED TAX LIABILITIES |
1.301 |
1.244 |
1.244 |
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TOTAL |
39.641 |
35.905 |
20.200 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
30.449 |
24.201 |
14.689 |
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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 |
3.802
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3.736 |
1.299 |
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Sundry Debtors |
10.062
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7.203 |
6.505 |
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Cash & Bank Balances |
0.082
|
0.228 |
0.853 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
3.172
|
7.901 |
1.918 |
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Total
Current Assets |
17.118
|
19.068 |
10.575 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
7.261
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6.753 |
5.068 |
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Provisions |
0.665
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0.613 |
0.000 |
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Total
Current Liabilities |
7.926
|
7.366 |
5.068 |
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Net Current Assets |
9.191
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11.702 |
5.507 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.002 |
0.004 |
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TOTAL |
39.641 |
35.905 |
20.200 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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36.667 |
24.261 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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36.667 |
24.261 |
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Profit/(Loss) Before Tax |
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1.705 |
1.379 |
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Provision for Taxation |
|
0.779 |
0.613 |
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Profit/(Loss) After Tax |
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0.926 |
0.766 |
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Total Expenditure |
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34.962 |
22.882 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.52
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3.16 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
4.65
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5.68 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.58
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3.19 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.13
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0.08 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.68
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1.42 |
2.50 |
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Current Ratio (Current Asset/Current Liability) |
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2.16
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2.59 |
2.09 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 :
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This form is for |
Creation of
charge Modification of
charge |
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Charge
identification number of the modified
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Corporate
identity number of the company |
U72200KA1996PTC020645 |
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Name of the
company |
TRIVENI HI-TECH
PRIVATE LIMITED. |
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Address of the
registered office or of the principal place of business in India of the company |
664, Sri
Malleshrudra Complex, Chickpet, Bangalore 560053, Karnataka, India. |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
State Bank Of
Mysore SME Branch No.
220, Double Road, Peenya Industrial Area, Bangalore560058, Karnataka. E-Mail : jsurya@vsnl.com |
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Nature of
description of the instrument creating or modifying the charge |
·
Agreements For
Cash Credit- Hyp. Of Goods and Hyp. Of Debsts and Assets. ·
Letter
of Hypothecation ·
Em Letter (All the Documents relate to the same charge ). |
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Date of
instrument Creating the charge |
22.06.2007 |
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Amount secured by
the charge |
Rs. 27.600
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: As Per Schedule Terms of
Repayment : Repayable on demand Margin : As
Applicable Extent and
Operation of the charge : Charge extends on all the assets throught the
period of sanctioned limits by way of
first charge. |
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Short particulars
of the property charged |
Hypothecation of
the whole of the present and future stocks, Book Debts, Machineries, etc.
belonging to the company. EM on Co’s immovable properties situated at Shed
No. B/173, 4th Main Road, II Stage, Peenya Industrial Area with in
the limits of Nallakadirenahalli Village, Yeshwanthapur Hobli, Bangalore
North Taluk, measuring about 509.58 sq ft. |
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.47.66 |
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UK Pound |
1 |
Rs.83.37 |
|
Euro |
1 |
Rs.64.46 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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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 |
|
46 |
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 |
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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 |
|
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 |
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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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