MIRA
INFORM REPORT
|
Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
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Name : |
TRU TEK SYSTEMS COMBINE PRIVATE LIMITED |
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Registered
Office : |
206 B Narayan Chambers, 555 Narayan Peth, Pune – 411 030, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.11.1990 |
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Com. Reg. No.: |
11-58945 |
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Capital
Investment / Paid-up Capital : |
Rs.2.369 millions |
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CIN No.: [Company Identification
No.] |
U29299MH1990PTC058945 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNET00435B |
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PAN No.: [Permanent Account No.] |
AAACT6308B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Specializes in delivering turnkey projects in Surface Finishing and
Water Leak Test Systems |
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No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 130000 |
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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.
INFORMATION DECLINED BY
|
Name : |
Mr. A R Joshi |
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Designation : |
Accounts Manager |
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Date : |
26.07.2011 |
LOCATIONS
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Registered Office : |
206 B Narayan Chambers, 555 Narayan Peth, Pune – 411 030, |
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Tel. No.: |
91-20-24453575 / 24452092 / 24432276 |
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Fax No.: |
91-20-24450679 / 25678726 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Parag Ramchandra Shellikeri |
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Designation : |
Managing Director |
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Address : |
5-B, Defence Accounts, Co-Operative Society, Janwadi, Pune – 411 053, |
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Date of Birth/Age : |
27.01.1979 |
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Date of Appointment : |
01.04.2008 |
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DIN No. : |
00044375 |
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Name : |
Mr. Ramchandra V Shellikeri |
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Designation : |
Whole Time Director |
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Address : |
5-B, Defence Accounts, Co-Operative Society, Janwadi, Pune – 411 053, |
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Date of Birth/Age : |
05.03.1948 |
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Date of Appointment : |
12.11.1990 |
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DIN No. : |
00044519 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
|
Ramchandra V Shellikeri |
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149040 |
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Parag Ramchandra Shellikeri |
|
87860 |
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Total |
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236900 |
As on 30.09.2010
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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 |
|
100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Specializes in delivering turnkey projects in Surface Finishing and
Water Leak Test Systems |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the Management |
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Bankers : |
Bank of Narayan Peth Branch, Pune – 411 030, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gokhale Transale and Ghatpande Chartered Accountant |
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Address : |
Flat No. 11, A-Building, 3rd Floor, Pradneyash Co-Operative
Housing Society Limited, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
236900 |
Equity Shares |
Rs.10/- each |
Rs.2.369
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 |
2.369 |
2.369 |
2.369 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
29.393 |
24.335 |
16.200 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
31.762 |
26.704 |
18.569 |
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LOAN FUNDS |
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1] Secured Loans |
7.549 |
1.874 |
5.852 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
7.549 |
1.874 |
5.852 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
39.311 |
28.578 |
24.421 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.801 |
8.032 |
7.893 |
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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 |
7.501
|
5.580 |
11.050 |
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Sundry Debtors |
31.826
|
50.331 |
54.928 |
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Cash & Bank Balances |
27.627
|
20.095 |
15.692 |
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Other Current Assets |
12.670
|
11.077 |
13.048 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
79.624
|
87.083 |
94.718 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
37.574
|
52.020 |
65.942 |
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Other Current Liabilities |
3.955
|
10.201 |
6.200 |
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Provisions |
6.585
|
4.316 |
6.048 |
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Total
Current Liabilities |
48.114
|
66.537 |
78.190 |
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Net Current Assets |
31.510
|
20.546 |
16.528 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
39.311 |
28.578 |
24.421 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
106.167 |
167.559 |
210.744 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
97.194 |
153.216 |
191.737 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.973 |
14.343 |
19.007 |
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Less |
INTEREST (D) |
0.332 |
0.331 |
0.570 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.641 |
14.012 |
18.437 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.321 |
1.388 |
1.353 |
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PROFIT BEFORE
TAX (E-F) (G) |
7.320 |
12.624 |
17.084 |
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Less |
TAX (H) |
2.262 |
4.489 |
6.044 |
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PROFIT AFTER TAX
(G-H) (I) |
5.058 |
8.135 |
11.040 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.335 |
16.200 |
5.160 |
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BALANCE CARRIED
TO THE B/S |
29.393 |
24.335 |
16.200 |
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Earnings Per
Share (Rs.) |
21.35 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
4.76
|
4.86 |
5.24 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.37
|
13.27 |
16.65 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.47 |
0.92 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.75
|
2.56 |
4.53 |
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Current Ratio (Current Asset/Current Liability) |
|
1.65
|
1.31 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
|
Particulars |
As on 31.03.2010 Rs. in millions |
As on 31.03.2009 Rs. in millions |
As on 31.03.2008 Rs. in millions |
|
For Goods |
29.679 |
37.757 |
58.425 |
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For Labour |
4.004 |
3.402 |
4.299 |
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For Services |
3.891 |
10.861 |
3.218 |
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Total |
37.574 |
52.020 |
65.942 |
OPERATIONS AND FUTURE PROSPECTS
The company expects
better turnover and profitability in next financial year and the directors are
hopeful of implementing such measures to
curb the administrative and employee cost so as to make the optimum utilization
of its resources.
The total turnover
for the year is Rs.106.167 millions and net profit earned by the Company during
the financial year is Rs.5.058 millions.
The business of
the Company will flourish in future and the turnover and profitability of the
Company will improve.
FORM 8
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Corporate identity number of the company |
U29299MH1990PTC058945 |
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Name of the company |
TRU TEK SYSTEMS COMBINE PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in |
206 B Narayan Chambers, 555 Narayan Peth, Pune – 411 030, |
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This form is for |
Modification of charge |
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Charge identification (ID) number of the charge to be modified |
90082584 |
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Type of charge |
Immovable property |
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Particular of charge holder |
Bank of Narayan Peth Branch, Pune – 411 030, |
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Nature of instrument creating charge |
Memorandum of Record of Equitable Mortgage |
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Date of instrument Creating the charge |
03.09.2010 |
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Amount secured by the charge |
Rs.10.000 millions |
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Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest AS per original charge- As specified by the bank from time to time. Terms of Repayment As stipulated by the bank Margin 25% Margin Extent and Operation of the charge First Charge on property mortgage in favour of the bank. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Office no. B206, 2nd floor, Narayan Chambers, Pune, CTS/Survey No.
555/1, 555/2, 555/4 admeasuring about 99.97 sq.mt together with fixtures and
fittings. |
|
Particulars of the present modification |
By this modification Inland Bank Guarantee limit is increased from
Rs.5.000 millions to Rs.10.000 millions. The other terms and conditions
remain the same. |
FIXED ASSETS
·
MIDC Plot
·
Furniture and Fixture
·
Office Premises
·
Office Equipment
·
AC Unit
·
Car
·
Tools Equipment
·
Computer
·
Software Charges
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.43.95 |
|
|
1 |
Rs.72.12 |
|
Euro |
1 |
Rs.63.67 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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|
--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 |
|
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 |
|
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.