MIRA
INFORM REPORT
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Report Date : |
15.07.2011 |
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Tel. No.: |
91-20-24452315 |
Note : The Registered Office of the company has been
shifted from 1301, Shukrawar Peth, Swaroop Kripa Complex, Subhash Nagar, Pune – 411
002,
IDENTIFICATION DETAILS
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Name : |
YANTRA AUTOMATION PRIVATE LIMITED |
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Formerly Known
As : |
YANTRA ELECTRONICS AND ELECTRICALS ( |
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Registered
Office : |
Office No. 101, 102, 103, Final Plot No. 84, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.08.1988 |
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Com. Reg. No.: |
11-48458 |
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Capital
Investment / Paid-up Capital : |
Rs.1.500 Millions |
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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 |
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No. of Employees
: |
80 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
A (58) |
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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 720000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track.
Trade relations are reported as fair. Business is active. Payments are
reported to be regular 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.
INFORMATION PARTED BY
|
Name : |
Mr. Satish |
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Designation : |
Accounts Department |
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Date : |
13.07.2011 |
LOCATIONS
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Registered Office : |
Office No. 101, 102, 103, Final Plot No. 84, |
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Tel. No.: |
91-20-26053200 (30 Lines) |
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Fax No.: |
91-20-26053200 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branches : |
Located at: ·
Mumbai ·
Vapi ·
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DIRECTORS
As on 06.09.2010
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Name : |
Mr. Hubert Salmon |
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Designation : |
Additional Director |
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Address : |
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Date of Birth/Age : |
09.04.1965 |
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Date of Appointment : |
12.01.2011 |
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DIN No. : |
03341487 |
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Name : |
Mr. Helene Margat |
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Designation : |
Additional Director |
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Address : |
89 Fumin Lu, |
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Date of Birth/Age : |
18.04.1969 |
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Date of Appointment : |
12.01.2011 |
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DIN No. : |
03341283 |
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Name : |
Mr. Anne Celine Stephanie Jean |
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Designation : |
Additional Director |
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Address : |
Etage 01 Escalier D, |
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Date of Birth/Age : |
07.02.1967 |
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Date of Appointment : |
12.01.2011 |
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DIN No. : |
03367768 |
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Name : |
Mr. Ajit R Shah |
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Designation : |
Director |
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Address : |
A-5, Dixit Baug, Apartment Navi Peth, Pune-411030, |
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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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DIN No. : |
00762591 |
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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, |
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Date of Birth/Age : |
30.12.1950 |
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Date of Ceasing : |
12.01.2011 |
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DIN No. : |
00762586 |
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Name : |
Mrs. Mansi A Shah |
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Designation : |
Director |
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Address : |
A-5, Dixit Baug, partment Navi Peth, Pune-411030, |
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Date of Birth/Age : |
24.05.1982 |
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Date of Appointment : |
30.09.2005 |
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Name : |
Mr. Anil B Baboo |
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Designation : |
Director |
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Address : |
B-5, Abhimanshree Society, |
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Date of Ceasing : |
31.08.2004 |
KEY EXECUTIVES
|
Name : |
Mr. Satish |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.09.2010
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Names of Shareholders |
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No. of Shares |
|
Ajit R Shah |
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7500 |
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Lata A Shah |
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7500 |
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Total |
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15000 |
List of Allotment as on 12.01.2011
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Names of Allottees |
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No. of Shares |
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300 |
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Total |
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300 |
As on 06.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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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 |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Automobiles End users and
Ancillaries ·
Telco ·
Mahindra and Mahindra
Limited ·
Fiat (Ind Auto Limited)
·
Bajaj Auto Limited O. E. M. ·
Telco Automation Limited ·
Comau India Limited ·
Taikisha Engineering Limited Petrochemicals, Oil and Gas:
·
IPCL (Indian Petroleum) ·
MRPL ·
HPCL ·
Occidental of Food and
Breweries:
End users and
Project Co
·
Alfa Laval India
Limited ·
Cadbury’s (I) Limited ·
Colgate Palmolive (I) Limited ·
SmithKline Beecham ·
Proctor and Gamble Chemicals and
Pharmaceuticals: ·
AKZO Nobel ·
Excel Industries Limited ·
Hindustan Lever Limited ·
Nocil Limited ·
Centak Chemicals Limited ·
DMCC Limited ·
Sudershan Chemical Limited Others: ·
VIP Industries ·
Kirloskar Engines Limited ·
Kirloskar Brothers Limited ·
Cummins India Limited ·
Crompton Greaves Limited |
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No. of Employees : |
80 Approximately |
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Bankers : |
·
The Cosmos Co-Operative Bank Limited ·
HDFC Bank Limited ·
ICICI Bank Limited |
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Facilities : |
Note: 1.
Working Capital loan from the Cosmos Co-Operative
Bank Limited is secured by hypothecation of stock in trade Book Debts and
Bills Receivables. 2.
Demand Loan is secured against Fixed Deposit and
Recurring Deposit with Bank. 3.
Term Loan from HDFC Bank Limited and ICICI Bank
Limited are secured by hypothecation of cars. 4.
Term Loan form the Cosmos Co-Operative Bank
Limited secured by hypothecation of
book debts 5.
Term Loans and working capital loans are
guaranteed by Directors in their personal capacities. Non –fund limits from the Cosmos Co-Operative Bank Limited are secured
by equitable mortgage of office premises at 1301, Shukrawar Peth Pune-411002
and Directors Personal Properties at 20, Sadashiv Peth, Pune -411030 |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Suryakant M Shah and Company Chartered Accountant |
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Address : |
39-40, Chitrashala Bhavan, 354, Naryan Peth, Pune – 411 030, |
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Tel. No.: |
91-20-24450280/ 24461660 |
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E-Mail : |
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Associates/Subsidiaries
: |
Yantra Harves Energy Private Limited |
CAPITAL STRUCTURE
After 06.09.2010
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 |
|
15300 |
Equity Shares |
Rs.100/- each |
Rs.1.530 millions |
As on 06.09.2010
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 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 |
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 |
178.806 |
134.847 |
112.469 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
180.306 |
136.347 |
113.969 |
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LOAN FUNDS |
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1] Secured Loans |
51.912 |
41.526 |
67.607 |
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2] Unsecured Loans |
19.855 |
11.772 |
11.839 |
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TOTAL BORROWING |
71.767 |
53.298 |
79.446 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
252.073 |
189.645 |
193.415 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
61.066 |
55.924 |
19.024 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
95.282 |
71.272 |
18.382 |
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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 |
33.926
|
20.474
|
23.714 |
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Sundry Debtors |
138.359
|
128.002
|
110.437 |
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Cash & Bank Balances |
5.492
|
13.623
|
65.068 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
61.196
|
55.497
|
73.301 |
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Total
Current Assets |
238.973
|
217.596
|
272.520 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
50.296
|
63.517
|
28.152 |
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Other Current Liabilities |
29.273
|
38.140
|
38.299 |
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Provisions |
63.679
|
53.490
|
50.060 |
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Total
Current Liabilities |
143.248
|
155.147
|
116.511 |
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Net Current Assets |
95.725
|
62.449
|
156.009 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
252.073 |
189.645 |
193.415 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL |
599.909 |
572.856 |
577.389 |
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EXPENSES |
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Office Expenses |
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|
518.924 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
528.870 |
525.126 |
518.924 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
58.465 |
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DEPRECIATION/
AMORTISATION |
NA |
NA |
3.105 |
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PROFIT BEFORE
TAX |
70.182 |
43.514 |
55.360 |
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TAX |
25.200 |
17.180 |
19.550 |
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PROFIT AFTER TAX
|
44.982 |
26.334 |
35.810 |
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
115.947 |
96.569 |
67.869 |
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APPROPRIATIONS |
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Transfer to General Reserve |
4.500 |
3.000 |
3.600 |
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Proposed Dividend and Tax |
1.749 |
3.510 |
3.510 |
|
BALANCE CARRIED
TO THE B/S |
155.406 |
115.947 |
96.569 |
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EARNINGS IN
FOREIGN CURRENCY |
3.095 |
2.561 |
3.183 |
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Earnings Per Share
(Rs.) |
2998.80 |
-- |
-- |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
650.000 |
The above information has been parted by Mr. Satish
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
(%) |
7.50
|
4.60
|
6.20 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
23.39
|
15.91
|
18.99 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.32
|
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.19
|
1.53
|
1.72 |
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Current Ratio (Current Asset/Current Liability) |
|
1.67
|
1.40
|
2.34 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
50.296 |
63.517 |
28.152 |
Bankers Charges
Report as per Registry
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U52339PN1988PTC048458 |
|
Name of the company |
YANTRA AUTOMATION PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Office No. 101, 102, 103, Final Plot No. 84, |
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Type of charge |
Immovable property |
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Particular of charge holder |
The Cosmos Co-Operative Bank Limited |
|
Nature of description of the instrument creating or modifying the
charge |
Memorandum of equitable mortgage dated 18.10.2010 |
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Date of instrument Creating the charge |
18.10.2010 |
|
Amount secured by the charge |
Rs.16.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest Cash credit- presently applicable 12.00%p.a Term loan - presently applicable 12.50% p.a. Terms of repayment Cash credit - repayable on demand / review within 12 months Term loan - 22 months, monthly
installments of Rs.0.562 million Margin Cash Credit and Term Loan: 25% In Banks Favour Extent and operation of the charge The charge shall continue to operate until full repayment of loan by
the company Others Facility - Cash credit- Rs.5.000 millions (Rupees Five millions only) Term loan - Rs.11.000 millions
(Rupees Eleven millions only) |
|
Short particulars of the property charged |
Office No. 101,102,103, Plot no. 84, S. No. 40, |
FIXED ASSETS
·
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles – Van
·
Vehicles – Bykes
·
Vehicles – Cars
·
Computers
·
Software
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] 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.44.53 |
|
|
1 |
Rs.71.80 |
|
Euro |
1 |
Rs.63.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
58 |
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.