MIRA
INFORM REPORT
|
Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
UNITECH TRANSFORMERS PRIVATE LIMITED |
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Registered
Office : |
1/41, Bhandup Industrial Estate, B.S. Marg, Bhandup (W), Mumbai –
400078, Maharasahtra. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
19.08.1997 |
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Com. Reg. No.: |
11-110180 |
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Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
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CIN No.: [Company Identification
No.] |
U31100MH1997PTC110180 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMU02507B / MUMU0117A |
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PAN No.: [Permanent Account No.] |
AAACU1945M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Industrial Transformers. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 77400 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Geeta |
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Designation : |
Manager |
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Date : |
03.08.2011 |
LOCATIONS
|
Registered Office : |
1/41, Bhandup Industrial Estate, B.S. Marg, Bhandup (W), Mumbai –
400078, |
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Tel. No.: |
91-22-25965473 |
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E-Mail : |
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Location : |
Owned |
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Sales Office : |
139, Shanti Industrial Estate, |
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Tel. No.: |
91-22-25968473 / 259464278 / 25649591 / 25679472 / 25914278 /
2569590-93 / 25968476 |
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Fax No.: |
91-22-25649594 / 25968357 / 25648356 |
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Factory : |
Located at Kapoli |
DIRECTORS
As on 30.09.2010
|
Name : |
Mrs. Heena Haridas |
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Designation : |
Director |
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Address : |
501 Emerald, Nirmal Lifestyle , Mulund (W), Mumbai-400080, |
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Date of Birth/Age : |
05.05.1964 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
01545562 |
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Name : |
Mr. Haridas Korukutty Parayangattil |
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Designation : |
Director |
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Address : |
501 Emerald, Nirmal Lifestyle , Mulund (W), Mumbai-400080, |
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Date of Birth/Age : |
17.11.1956 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02016885 |
KEY EXECUTIVES
|
Name : |
Ms. Geeta |
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Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mrs. Heena Haridas |
215000 |
86% |
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Mr. Haridas Korukutty Parayangattil |
35000 |
14% |
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Total |
250000 |
100% |
Equity Share Break up (Percentage of Total Equity)
|
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 : |
Manufacturer of Industrial Transformers. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30 Days and 60 days) |
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Purchasing : |
Cash and Credit (30 Days and 60 days) |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
The Bharat Co-operative Bank (Mumbai) Limited Bhandup Branch, Gr. Floor, Gautam Udyog Bhavan, LBS Marg, Bhandup
(West), Mumbai – 400078, Maharashtra, India |
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Facilities : |
(Rs. In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Arvind Bansal Chartered Accountant |
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Address : |
3036/91, Bhadup Industrial Estate, LBS, Marg, Bhandup (W), Mumbai-
400078, Maharasahtra, India. |
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PAN.: |
AACPB9137H |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.850 |
10.878 |
7.017 |
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4] (Accumulated Losses) |
(0.000) |
(0.000) |
(0.000) |
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NETWORTH |
19.350 |
13.378 |
9.517 |
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LOAN FUNDS |
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1] Secured Loans |
70.210 |
68.738 |
57.992 |
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2] Unsecured Loans |
2.370 |
2.370 |
2.370 |
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TOTAL BORROWING |
72.580 |
71.108 |
60.362 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
91.930 |
84.486 |
69.879 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
30.230 |
26.660 |
23.804 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.133 |
0.132 |
0.132 |
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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 |
43.906
|
7.235 |
15.654 |
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Sundry Debtors |
65.773
|
67.457 |
96.010 |
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Cash & Bank Balances |
20.319
|
18.101 |
7.360 |
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Other Current Assets |
0.249
|
0.154 |
0.102 |
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Loans & Advances |
17.239
|
7.825 |
5.524 |
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Total
Current Assets |
147.486
|
100.772 |
124.65 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
75.065
|
36.324 |
72.799 |
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Other Current Liabilities |
0.050
|
0.048 |
0.000 |
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Provisions |
10.895
|
6.834 |
5.938 |
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Total
Current Liabilities |
86.010
|
43.206 |
78.737 |
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Net Current Assets |
61.476
|
57.566 |
45.913 |
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MISCELLANEOUS EXPENSES |
0.091 |
0.128 |
0.030 |
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TOTAL |
91.930 |
84.486 |
69.879 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES TURNOVER |
264.530 |
371.885 |
NA |
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PARTICULARS |
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|
31.03.2011 |
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SALES (Approximately)
|
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|
400.000 |
The above information has been parted by Ms. Geeta
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.44
|
3.23 |
0.81 |
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Current Ratio (Current Asset/Current Liability) |
|
1.71
|
2.33 |
1.58 |
LOCAL AGENCY FURTHER INFORMATION
Operations :
For the Year ended 31st March, 2010 the company achieved a turnover
of Rs.264.530 Millions and made profit of Rs.59.720 Millions after
depreciations and tax.
FORM 8
|
Corporate
identity number of the company |
U31100MH1997PTC110180 |
|
Name of the
company |
UNITECH
TRTANSFORMERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1/41 Bhandup
Industrial Estate, B. S. Marg, Bahndup (W), Mumbai-400078, |
|
This form is for |
Modification
of charge |
|
Charge identification
(ID) number of the charge to be modified |
90155161 |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
The Bharat
Co-Operative Bank (Mumbai) Limited Bhandup Branch, Gr. Floor, Gautam Udyog Bhavan, LBS Marg, Bhandup (West),
Mumbai – 400078, Maharasahtra, India |
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Nature of
instrument creating charge |
Memorandum of
Entry Recording The Deposit and Continuation of Deposit of Title Deeds. |
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Date of
instrument Creating the charge |
29.09.2010 |
|
Amount secured by
the charge |
Rs.98.520
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest Rate And
Penal Interest Rate As Agreed Between The Borrower Company And The Bank From
Time To Time. Terms of
Repayment Repayment, As
Agreed Between The Borrower Complex And The Bank From Time To Time Margin Margin Rate, As
Agreed Between The Borrower Company And The bank From Time To Time Extend and
Operations of the Change At The request Of
The Borrower Company, The Bank Has Enhanced Overall Banking Limits Upto
Rs.985.200 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1) Plot Bearing No.13, Admeasuring About
757.0 Sq Mts. Equivalent To 8147.35 Sq. Ft. At Arkose Industrial Estate, At
Raigad. 2) Plot Bearing No.10, Admeasuring About
446.2 Sq Mts. Equivalent To 4802.90 Sq. Ft. At Arkose Industrial Estate, At
Raigad. 3) Plot Bearing No.12, Admeasuring About
769.8 Sq Mts. Equivalent To 8286.13 Sq. Ft. At Arkose Industrial Estate, At
Raigad. 4) Plot no.N-2/8, Admeasuring 5176 Sq. Mts. ,
In The Additional Patalganga Industrial Area, At Raigad. 5) Flat No.301, Admeasuring 363 Sq. Ft.
(Carpet Area), Situated On The Third Floor In A Wing Of The Building Known As
Sagar Vihar, At Raigad. 6) Flat No.304, Admeasuring 363 Sq. Ft.
(Carpet Area), Situated On The Third Floor In B Wing Of The Building Known As
Sagar Vihar, At Raigad 7) Flat No.001, Admeasuring 473 Sq. Ft.
(Built-Up-Area), Situated On The Ground Floor In C Wing Of The Building Known
As Sagar Vihar, At Raigad 8) Flat No.002, Admeasuring 473 Sq. Ft.
(Built-Up-Area), Situated On The Ground Floor In D Wing Of The Building Known
As Sagar Vihar, At Raigad. 9) Flat
no.204, Admeasuring 911 Sq. Ft. (Built-Up-Area), Situated On The
Second Floor in B Wing Of The Building Known As Sagar Samrudhi, At Raigad. |
|
Particulars of
the present modification |
At The request Of
The Borrower Company, The Bank Has Enhanced Overall Banking Limits Upto
Rs.985.200 Millions. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.42 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.63.55 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.