MIRA INFORM REPORT

 

 

Report Date :

10.03.2011

 

Note: The Given address could not be confirmed

 

IDENTIFICATION DETAILS

 

Name :

SANTECH ENGINEERS PRIVATE LIMITED

 

 

Registered Office :

52/1, First Floor, 16th Cross, 8th Main, Malleshwaram, Bangalore – 560055, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2009

 

 

Date of Incorporation :

21.06.1988

 

 

Com. Reg. No.:

08-009208

 

 

CIN No.:

[Company Identification No.]

U74210KA1988PTC009208

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRS01414A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

To Carry on Business of Contractors and Engineers in Civil, Mechanical, Electrical and in all its branches

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 53000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are 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 – April 1, 2010

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

LOCATIONS

 

Registered Office :

52/1, First Floor, 16th Cross, 8th Main, Malleshwaram, Bangalore – 560055, Karnataka, India

Tel. No.:

91-80-23441751/23449677

Fax No.:

91-80-23362024

E-Mail :

plumbing@santechengineers.com

 

 

DIRECTORS

 

As On 30.09.2009

 

Name :

Mr. Rajgopal Narasimha Murthy

Designation :

Managing Director

Address :

002 KT Apartments No. 36, 10th Main, 1st Cross Malleshwaram, Bangalore – 560055, Karnataka, India

Date of Birth/Age :

02.03.1957

Date of Appointment :

21.06.1988

DIN No. :

01153015

 

 

Name :

Mr. Shanthala Rajgopal

Designation :

Director

Address :

002 KT Apartments No. 36, 10th Main, 1st Cross Malleshwaram, Bangalore – 560055, Karnataka, India

Date of Birth/Age :

23.06.1960

Date of Appointment :

27.01.1990

DIN No. :

01686575

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As On 30.09.2009

 

Names of Shareholders

 

No. of Shares

Rajgopal N Murthy

 

7500

Shantala Rajgopal

 

7500

Total

 

15000

 

As On 30.09.2009

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

To Carry on Business of Contractors and Engineers in Civil, Mechanical, Electrical and in all its branches

 

 

 

GENERAL INFORMATION

 

Suppliers :
  • Patel Trading Corporation
  • Mehra and company
  • Gulshan Trading Company
  • Generla Hardwar and Industries Stores
  • Chhabra Tiles
  • Balaji Steels
  • A R Marketing and Services
  • Buildtech Inc
  • Hitech India Private Limited
  • Jaquar and Company Limited
  • Polybond Organics Private Limited

 

 

Customers :
  • Rukmani Education Trust
  • Silverline Estates
  • Techmerk Engineers Private Limited
  • Total Environment Building Systems Private Limited
  • Pride Hotels Limited
  • Adhunik Techno Private Limited
  • Nandi Housing Private Limited
  • A M Builders

 

 

Bankers :
  • State Bank of Mysore – Vyalikaval Branch, 2nd Main Road, Vyalikaval, Bangalore – 560003, Karnataka, India

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

SVS and Company

Chartered Accountant

Address :

S-6 & 7, Shalimar Galaxy, 139, 1st Main Road, Seshadripuram, Bangalore – 560020, Karnataka, India

Tel. No.:

91-80-24361442

E-Mail :

svsandcompany@vsnl.com

Pan No.:

AALFS3382G

 

CAPITAL STRUCTURE

 

As On 31.03.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20000

Equity Shares

Rs. 10/- each

Rs. 0.200 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000

Equity Shares

Rs. 10/- each

Rs. 0.150 million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2009

31.03.2008

31.03.2007

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

0.150

0.150

0.150

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

13.229

5.127

2.199

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

13.379

5.277

2.349

LOAN FUNDS

 

 

 

1] Secured Loans

8.033

0.000

0.000

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

8.033

0.000

0.000

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

21.412

5.277

2.349

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

2.757

1.404

0.085

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
9.051

14.376

3.555

 

Sundry Debtors
51.365

13.825

6.935

 

Cash & Bank Balances
0.224

0.449

0.325

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
5.149

3.341

0.460

Total Current Assets
65.789

31.991

11.275

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors

 

Other Current Liabilities
35.865

24.467

8.568

 

Provisions
11.269

3.651

0.443

Total Current Liabilities
47.134

28.118

9.011

Net Current Assets
18.655

3.873

2.264

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

21.412

5.277

2.349

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2009

31.03.2008

31.03.2007

 

SALES

 

 

 

 

 

Income

183.822

54.910

1.571

 

 

Other Income

0.121

0.011

0.009

 

 

TOTAL                                    

183.943

54.921

1.580

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT AFTER TAX

12.884

4.527

0.436

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

1.877

0.449

1.133

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

6.750

1.500

0.250

 

 

Provision for taxation

4.431

1.426

0.152

 

 

Dividend

0.300

0.150

0.150

 

 

Tax on Distributed Profits

0.051

0.023

0.025

 

BALANCE CARRIED TO THE B/S

3.229

1.877

0.577

 

 

 

 

 

 

Earnings Per Share (Rs.)

858.93

301.80

29.07

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2009

31.03.2008

31.03.2007

PAT / Total Income

(%)
7.00

8.24

27.59

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
4.12

5.33

3.84

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.37

1.14

1.25

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

FINANCIAL RESULTS:

During the year, the company gross revenue has increased from Rs. 54.910 millions to Rs. 183.822 millions. The net profit has increased from Rs. 4.527 millions to Rs. 12.884 millions. The Directors are confident of achieving better results in the years to come.

 

 

Form 8:

 

This form is for

Creation of charge

Corporate identity number of the company

U74210KA1988PTC009208

Name of the company

SANTECH ENGINEERS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

52/1, First Floor,16th Cross, 8th Main, Malleshwaram, Bangalore -560055, Karnataka, India

 

Type of charge

Book Debts

Movable Property

Omnibus Counter Guarantee

Particular of charge holder

Name :

State Bank of Mysore

Address :

Vyalikaval Branch, 2nd Main Road, Vyalikaval Bangalore – 560003, Karnataka, India

Email :

vyalikaval@sbm.com

Nature of description of the instrument creating or modifying the charge

Agreement for Advances - Cash Credit, Omnibus Counter Guarantee.

Date of instrument Creating the charge

02.06.2008

Amount secured by the charge

Rs. 12.500 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest - 14.50% per anum with monthly rest.

 

Terms of Repayment - On demand, repayable within 12 months

 

Margin - 50%  for Cash Credit  (Book Debts) & 25% for Bank Guarantee Limit.

 

Extent and Operation of the charge - Charge extend to all receivables with cover period of 90 days, and extension scope of equitable mortgage of house property in the name of Sri Rajgopal N. Murthy and Smt. Shantala Rajgopal situated at No. 401, 4th Floor, Block A, Brigade Software Park, 42, 27th Cross, BSK II Stage, Bangalore - 560070.

 

Others - Omnibus counter guarantee and extension of charge on current assets.

Short particulars of the property charged

1. Primary Security: a) Hypothecation over receivable with a cover period of 90 days. b) Omnibus Counter guarantee and charge on Current Assets.

2. Collateral:Equitable mortgage of house property in the name of Sri Rajgopal N. Murthy and Smt. Shantala Rajgopal situated at No. 401, 4th Floor, Block A, Brigade Software Park, 42, 27th Cross, BSK II Stage, Bangalore - 560070.

 

 

FIXED ASSETS:

  • Vehicle
  • Furniture
  • Computer
  • Drilling machine
  • Threading machine
  • Air condition
  • Emergency lighting
  • Fax machine
  • Pager
  • UPS system
  • Telephone equipment
  • Tata Safari
  • Tata Sierra
  • Level Machine

 

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 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.45.02

UK Pound

1

Rs.72.70

Euro

1

Rs.62.54

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

 

48

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.