MIRA
INFORM REPORT
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Report Date : |
24.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
YANTRA AUTOMATION PRIVATE LIMITED |
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Registered Office : |
1301, Swaroop Krupa, 2nd Floor, Subhash Nagar, Shukrawar Peth,
Pune-411002, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
11.08.1988 |
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Com. Reg. No.: |
11-48458 |
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CIN No.: [Company
Identification No.] |
U52339PN1988PTC048458 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in Automation Hardware and Oil and Gase Equipments |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Mr. Ajay Shah, Director of the company denied business and financial details
business and financial details claiming that they are not negotiating for any
new business. Subject is a well established marketing company. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings at
usual trade terms. |
INFORMATION
DECLINED BY
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Name : |
Mr. Ajay Shah |
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Designation : |
Director |
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Date : |
22.09.2008 |
LOCATIONS
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Registered Office/ Head Office : |
1301, Swaroop Krupa, 2nd Floor, Subhash Nagar, Shukrawar
Peth, Pune-411002, Maharashtra, India |
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Tel. No.: |
91-20-24486884/ 5/ 6 |
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Fax No.: |
91-20-24452315 |
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E-Mail : |
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Branches : |
Located at :- ·
Mumbai Branch ·
Vapi Branch ·
Baroda Branch ·
Nasik Branch |
DIRECTORS
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Name : |
Mrs. Lata Ajit Shah |
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Designation : |
Director |
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Address : |
A-5, Dixit Baug Apartments, Navi Peth, Pune-411030, Maharashtra, India |
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Date of Birth/Age : |
30.12.1950 |
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Date of Appointment : |
11.08.1988 |
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Name : |
Mr. Ajit Ratanchand Shah |
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Designation : |
Director |
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Address : |
A-5, Dixit Baug Apartments, Navi Peth, Pune-411030, Maharashtra, India |
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Date of Birth/Age : |
01.01.1950 |
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Date of Appointment : |
11.08.1988 |
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Name : |
Mr. Ajay Shah |
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Designation : |
Director |
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Name : |
Mr. Anil B Habbu |
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Designation : |
Director |
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Address : |
B 5 Abhimanshree Society, Pashan Road, Aundh, Pune-411007,
Maharashtra, India |
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Date of Appointment : |
01.04.1994 |
KEY EXECUTIVES
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Name : |
Mr. Shyam Gajwani |
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Designation : |
Vice President - Maketing |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2003
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Names of Shareholders |
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No. of Shares |
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Ajit R Shah |
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7470 |
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Lata A Shah |
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7500 |
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S D Rajhans |
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1 |
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P D Rajhans |
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1 |
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V S Rajhans |
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1 |
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K S Damle |
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1 |
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Y H Tapare |
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1 |
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M N Tapare |
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1 |
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A Y Tapare |
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1 |
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Tembhurnikar PP |
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1 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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99.80 |
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Other top fifty (50) shareholders (other than listed above) |
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0.20 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading in Automation Hardware and Oil and Gase Equipments |
GENERAL
INFORMATION
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Customers : |
End Users and
Ancillaries ·
Telco ·
Mahindra and Mahindra Limited ·
Fiat ( Industy Auto Limited) ·
Bajaj Tempo Limited OEM ·
Telco Automation Limited ·
Comau India Limited ·
Taikisha Engineering Limited ·
PMT Machine Tool Automatics Limited End Users and
Project Company ·
IPCL ( Indian Petroleum) ·
MRPL ·
HPCL ·
Occidental of Iman ·
Xytel India Limited ·
Advance Spectra Tech Limited ·
Chemithon Engineering Limited End Users and
Project Company ·
Alfa Lavel India Limited ·
Cadbury’s India Limited ·
Colgate Palmolive (India) Limited ·
Smithkline Beecham Others ·
VIP Industries ·
Kirloskar Engineers Limited ·
Kirloskar Brothers Limited ·
Cummins India Limited ·
Crompton Greaves Limited |
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Bankers : |
The Cosmos Co- operative Bank Limited, Laxmi Road Branch, 269/ 270,
Shaniwar Peth, Pune-411030, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Suryakant M Shah Chartered Accountant |
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Address : |
39/40, Chitrashala Bhavan, 354, Narayan Peth, Laxmi Road, Pune-411030,
Maharashtra, India |
CAPITAL STRUCTURE
As on 30.09.2005
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs. 100/-
each |
Rs. 1.500
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
The company’s last available obtainable financials is enclosed herewith.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.500 |
1.500 |
1.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
40.004 |
18.153 |
16.178 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
41.504 |
19.653 |
17.678 |
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LOAN FUNDS |
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1] Secured Loans |
47.498 |
22.159 |
1.083 |
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2] Unsecured Loans |
11.523 |
10.466 |
13.466 |
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TOTAL BORROWING |
59.021 |
32.625 |
14.549 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
100.525 |
55.278 |
32.227 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.632 |
7.873 |
3.502 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.317 |
0.451 |
0.486 |
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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 |
51.539
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9.690 |
6.855 |
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Sundry Debtors |
80.596
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36.387 |
32.240 |
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Cash & Bank Balances |
57.007
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19.348 |
17.671 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
23.072
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6.613 |
7.767 |
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Total
Current Assets |
212.214
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72.038 |
64.533 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
106.342
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22.043 |
32.319 |
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Provisions |
15.296
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6.041 |
3.975 |
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Total
Current Liabilities |
121.638
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28.084 |
36.294 |
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Net Current Assets |
90.576
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43.954 |
28.239 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
100.525 |
52.278 |
32.227 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.35
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3.09 |
2.88 |
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Current Ratio (Current Asset/Current Liability) |
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1.74
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2.57 |
1.78 |
LOCAL AGENCY FURTHER
INFORMATION
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U52339PN1988PTC048458 |
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Name of the
company |
YANTRA AUTOMATION PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
1301. Swaroop Krupa, 2nd Floor, Subhash Nagar, Shukrawar
Peth, Pune-411002, Maharashtra, India |
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Type of charge |
Book Debts Floating Charge |
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Particular of charge
holder |
The Cosmos Co- operative Bank Limited, Laxmi Road Branch, 269/ 270,
Shaniwar Peth, Pune-411030, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation of Stock, Book Debts and Machinery dated 11.07.2007 |
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Date of
instrument Creating the charge |
11.07.2007 |
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Amount secured by
the charge |
Rs. 30.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest: at
present 12.25% p.a. Terms of
Repayment Repayment period
: 27 Months including 3 months moratorium Margin Margin : 30% in
Bank’s Favour Extent and
Operation of the charge The charge shall
continue to operate until full repayment of loan by the company Others Facility: Term
Loan |
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Short particulars
of the property charged |
Stock and Debtors
under reliance Enery order situated at Reliance energy Limited Dahganu and At
1301, Swaroop Krupa, 2nd Floor, Subhash Nagar, Pune-411002 |
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Name of the company |
YANTRA AUTOMATION PRIVATE LIMITED |
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Presented By |
The Cosmos Co- operative Bank Limited, Laxmi Road Branch, 269/ 270,
Shaniwar Peth, Pune-411030, Maharashtra, India |
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1) Date and description of instrument creating the change |
Hypothecation of
Tangible goods/ movable property dated 29th October 2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 10.000
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 |
Stock and payment
to be received against order of HPCL |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
12% p.a.11-48458 |
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5) Name and Address and description of the person entitled to the charge. |
The Cosmos Co- operative Bank Limited, Laxmi Road Branch, 269/ 270,
Shaniwar Peth, Pune-411030, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
N.A |
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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. |
N.A |
AS PER WEBSITE
Profile:
Subject was started in
1980 for by Mr. Ajit Shah for Switchgear Marketing
and has entered in to a business tie up with Rockwell Automation India
Ltd in 1997 as an authorized Channel partner distributor who
is the world leader in the field of Industrial Automation. They are having a
turn over around 50 crore with the team of highly skilled engineers to provide
product selection, software programming, trouble shooting and customer support
at site.
They are pleased to introduce themselves as one of the leading Control
and Automation Company of Western India. Yantra Automation is an authorized
largest Channel Partner of Rockwell Automation in the Country.
They provide wide array of Engineering Solutions
and Services. The primary technical services include automation and electrical
engineering design, systems analysis, testing and support, systems integration,
field service and commissioning, control, monitoring, testing and repair.
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.45.72 |
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UK Pound |
1 |
Rs.84.81 |
|
Euro |
1 |
Rs.67.60 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
|
65 |
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 |
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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 |
|
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 |
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