MIRA
INFORM REPORT
|
Report Date : |
02.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAHENDRA TRANSFORMERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
15/32, Kidwai Gali, Gali No. 5, Chajjupur, Babarpur, Shahdara, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
24.11.1992 |
|
|
|
|
Com. Reg. No.: |
55-51110 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.3.000 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31102DL1992PTC051110 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELM07951G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM0722A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Power and Distribution Transformers and Servo
Stabilizers |
|
|
|
|
No. of Employees : |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 20000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for small to mediocre 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Abhishek |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-120-4561635 |
|
Date : |
26.11.2011 |
LOCATIONS
|
Registered Office : |
15/32, Kidwai Gali, Gali No. 5, Chajjupur, Babarpur, Shahdara, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9818140474 (Mr. Neeraj Kansal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
F-10, South Side of |
|
Tel No.: |
91-120-2840781 / 4561635 / 2840747 |
|
Fax No.: |
91-120-2840747 |
|
Area : |
3000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Neeraj Kansal |
|
Designation : |
Managing Director |
|
Address : |
H-81, Patel Nagar - III |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.08.1997 |
|
DIN No.: |
01952091 |
|
|
|
|
Name : |
Ms. Neena Kansal |
|
Designation : |
Director |
|
Address : |
H-81, Patel Nagar - III |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.08.2000 |
|
DIN No.: |
01952063 |
KEY EXECUTIVES
|
Name : |
Mr. Abhishek |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Neeraj Kansal |
|
67100 |
|
Neena Kansal |
|
47000 |
|
Rani Kansal |
|
70400 |
|
M. P. Kansal |
|
47100 |
|
Anshu Kansal |
|
14300 |
|
Umesh Prakash |
|
18000 |
|
Saroj Goel |
|
8400 |
|
Anita Goel |
|
9200 |
|
Shanti Kansal |
|
13500 |
|
Rakesh Gupta |
|
5000 |
|
Total |
|
300000 |
As on 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Power and Distribution Transformers and Servo
Stabilizers |
|
|
|
|
Products : |
·
Power and Distribution Transformers ·
Servo Stabilizers ·
Dry Type Transformers up to 750 KVA The company is also manufacturing transformer for special application
such as : ·
Induction Furnace and Furnace Transformers ·
Rectifier Transformers up to 1 MVA/11KV ·
Boosters ·
Mining/Collaries Transformers |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Suppliers : |
·
Bhagwati Traders ·
Bharat Electrical Casting ·
Kamla Traders ·
Kumar and Kumar ·
Mechno Tech Power ·
M. K. Traders ·
Neha Trading Company ·
Raj Petro Specialities Private Limited ·
Sanjeev Industries ·
Sidharth Paints ·
Vijay Engineering
·
Power Component Corporation ·
Shiv Shakti Enterprises ·
Shree Balaji Engineers |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
Consumer and Contractor ·
North Central Railway ·
South Central Railway ·
East Coast Railway ·
Electricity Boards ·
Power Corporation ·
Housing Society ·
NHPC Limited ·
Reliance Retail Limited ·
Reliance Infratel Limited ·
Manufacturing Units ·
All ·
Essar Projects Private Limited ·
·
Rew Construction Private Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
30 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Syndicate Bank 66, Navyug Market, ·
Syndicate Bank, Babarpur ·
ICICI Bank Limited |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. C. Garg Chartered Accountant |
|
Address : |
1, Navyug Market, 2nd Floor, Gaziabad – 201 001, |
|
Tel No.: |
91-120-4373268 |
|
PAN No.: |
AAPPG1430M |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.000 |
3.000 |
3.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.951 |
0.356 |
0.968 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.951 |
3.356 |
3.968 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.686 |
1.775 |
0.000 |
|
|
2] Unsecured Loans |
0.733 |
0.549 |
1.142 |
|
|
TOTAL BORROWING |
4.419 |
2.324 |
1.142 |
|
|
DEFERRED TAX LIABILITIES |
0.056 |
0.058 |
0.060 |
|
|
|
|
|
|
|
|
TOTAL |
9.426 |
5.738 |
5.170 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.382 |
2.088 |
2.218 |
|
|
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 |
8.774
|
9.296 |
5.214 |
|
|
Sundry Debtors |
11.862
|
6.312 |
7.236 |
|
|
Cash & Bank Balances |
0.619
|
1.460 |
3.037 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.011
|
1.158 |
2.053 |
|
Total
Current Assets |
22.266
|
18.226 |
17.540 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.206
|
12.749 |
11.325 |
|
|
Other Current Liabilities |
1.595
|
0.978 |
1.243 |
|
|
Provisions |
1.663
|
1.172 |
2.020 |
|
Total
Current Liabilities |
14.464
|
14.899 |
14.588 |
|
|
Net Current Assets |
7.802
|
3.327 |
2.952 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.242 |
0.323 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.426 |
5.738 |
5.170 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
38.450 |
21.971 |
34.337 |
|
|
|
Other Income |
1.090 |
0.267 |
0.120 |
|
|
|
TOTAL (A) |
39.540 |
22.238 |
34.457 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
29.130 |
19.633 |
24.357 |
|
|
|
Manufacturing Expenses |
5.266 |
3.535 |
6.360 |
|
|
|
Administration Expenses |
2.628 |
2.005 |
2.270 |
|
|
|
Selling and Distribution Expenses |
0.290 |
0.007 |
0.060 |
|
|
|
Increase/ Decrease in Stock |
0.147 |
(3.393) |
0.414 |
|
|
|
TOTAL (B) |
37.461 |
21.787 |
33.461 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.079 |
0.451 |
0.996 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
CHARGES (D) |
0.288 |
0.093 |
0.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.791 |
0.358 |
0.847 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.112 |
0.130 |
0.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.679 |
0.228 |
0.720 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.679 |
0.228 |
0.720 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.356 |
0.968 |
0.251 |
|
|
|
|
|
|
|
|
|
Add |
DEFERRED TAX
LIABILITY |
0.002 |
0.002 |
(0.003) |
|
|
|
|
|
|
|
|
|
Less |
SELF ASSESSMENT
TAX PAID |
0.000 |
0.842 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
2.037 |
0.356 |
0.968 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.60 |
0.76 |
2.40 |
|
Expected Sales (2011-2012): Rs.50.000 millions
The above information has been parted by Mr. Abhishek
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.25
|
1.03 |
2.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.37
|
1.04
|
2.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.10
|
1.12
|
3.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.07
|
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.81
|
5.13
|
3.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54
|
1.22
|
1.20 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last three years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
-- |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
YES |
|
16. |
Details of sister concerns |
-- |
|
17. |
Major Suppliers |
-- |
|
18. |
Major Customers |
YES |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
-- |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
NO |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
NOTE
The Registered Office of the company has been shifted from E-14, Inder Marg, Gali No. 2, Jhajhupur, Bararpur, Shahdara, Delhi – 110 092, India to the present address w.e.f. 01.09.2007.
FORM 8
|
Corporate
identity number of the company |
U31102DL1992PTC051110 |
|
Name of the
company |
MAHENDRA TRANSFORMERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
15/32, Kidwari Gali, Gali No.5, Chajjupur, Babarpur, Shahdara, |
|
This form is for |
Creation Of
Charge |
|
Type of charge |
· Immovable Property · Book Debts · Floating Charge · Others – Hypothecation of book debts |
|
Particular of
charge holder |
Syndicate Bank 66, Navyug Market, E-Mail : roc.charge@gmail.com
|
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement dated 25.02.2010 Confirmation of
creation of second/ Subsequent Equitable mortgage dated 25.02.2010 Ombibus Counter
Guarantee dated 25.02.2010 Charge and
Hypothecation of debts Agreement 25.02.2010 |
|
Date of
instrument Creating the charge |
25.02.2010 |
|
Amount secured by
the charge |
Rs. 3.400
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
a) Rate of Interest: At PLR 12% or such other
rate at may be decided by the bank from time to time. b) Terms of repayment: Payable on demand c) Margin: 25% d) Extent and operation of the charge: SOD
Limit Rs. 2.200 millions, BG Limit Rs.1.200 millions, Total exposure Rs.
3.400 millions |
|
Particulars of
the property charged |
i)
Equitable
mortgage of industrial plot and building admeasuring area 1622 sq. yard bearing
khasara No F-10 situates in south side ii)
Hypothecation
of book debts iii)
Stock
of raw material of copper and aluminium strips and wire, erw tubes,
transformers oil, Coce, semi finished, finished stock in transit iv)
All
plant and machinery installed or to be instable both present and future v)
Above
godown situated at F-10, South side and G T Road Industrial Area Ghaziabad |
TRADE REFERENCE
·
North Central Railway
· South Central Railway
FIXED ASSETS
· Land
· Building
· Furniture and Fixtures
· Type Writer
· Plant and Machinery
· Tools
· Electrical Fitting
· Tube well
· Testing Equipment
· Fan
· Tata Sumo
· Cooler
· Cycle
· Fax Machine
· Generator
· Computer
· Printer
· Air Conditioner
· Weghing Scale
· Scooter
· EPABX Machine
·
· Water Cooler
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.51.65 |
|
|
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.69.50 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.