MIRA
INFORM REPORT
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Report Date : |
23.11.2011 |
IDENTIFICATION DETAILS
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Name : |
TCI CONSTRUCTIONS LIMITED w.e.f 24.08.2008 |
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Formerly Known
As : |
TCI CONSTRUCTIONS PRIVATE LIMITED |
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Registered
Office : |
D.No. 8-3-302/2/D, Maruthi Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
22.11.2006 |
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Com. Reg. No.: |
01-051752 |
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Capital
Investment / Paid-up Capital : |
Rs. 95.484 Millions |
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CIN No.: [Company Identification
No.] |
U45200AP2006PLC051752 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT03899A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is an integrated civil engineering and
Infrastructure Company specialized in building construction, electrical,
sanitary and plumbing works |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (33) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 471000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has commenced its operations in the financial year 2009-10. 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 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) |
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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 |
LOCATIONS
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Registered Office : |
D.No. 8-3-302/2/D, Maruthi Nagar, |
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Tel. No.: |
91-40-23815652/30784512 |
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Fax No.: |
91-40-23815616/30784513 |
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E-Mail : |
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158-A, 6th Cross, KEB Layout, Sanjay Nagar, |
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Tel. No.: |
91-80-23419966 |
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Fax No.: |
91-80-23416997 |
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E-Mail : |
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Chennai Office : |
Plot No.5, 2nd Floor, Paanjaatham Apartment, Old No.9 and
New No. 10, Kuppuswami Steel, T Nagar, Chennai – 600017, India |
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Tel. No.: |
91-44-28151502 |
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Fax No.: |
91-44-28151501 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Venkatesh Muppaneni |
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Designation : |
Managing Director |
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Address : |
D.No. 7-1-636/40, Near Sunder Nagar, Model Colony, Adj, to |
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Date of Birth/Age : |
30.10.1965 |
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Date of Appointment : |
22.11.2006 |
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DIN No.: |
02223805 |
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Other
Directorship:
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Name : |
Mrs. Radha Muppaneni |
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Designation : |
Director |
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Address : |
D.No. 7-1-636/40, Near Sunder Nagar, Model Colony, Adj, to |
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Date of Birth/Age : |
05.08.1972 |
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Date of Appointment : |
22.11.2006 |
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DIN No.: |
02227079 |
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Other
Directorship:
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Name : |
Mr. Sharath Babu Neepali |
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Designation : |
Additional Director |
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Address : |
5-60-1/39/A, |
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Date of Birth/Age : |
24.08.1964 |
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Date of Appointment : |
24.03.2011 |
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DIN No.: |
03493948 |
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KEY EXECUTIVES
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Name : |
Mr. M.S. Sharma |
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Designation : |
Technical Advisor |
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Name : |
Mr. N.N. Murty |
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Designation : |
Dy. General Manager – Finance |
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Name : |
Mr. N. Sharath Babu |
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Designation : |
Dy. General Manager Procurement |
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Name : |
Mr. P. Narendra |
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Designation : |
Coordinator – Projects |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
M. Venkatesh |
|
9465328 |
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M. Anuradha W/o M.Venkatesh |
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36285 |
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M. Sobha W/o Late Vasanth Kumar |
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23871 |
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J. Venkateswara Rao |
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5729 |
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N. Sharath Babu S/o N.D Krupakara Rao |
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5729 |
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J. Madhu W/o J.Venkateswara Rao |
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5729 |
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N. Sudha W/o N.Sharath |
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5729 |
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TOTAL |
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9548400 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is an
integrated civil engineering and Infrastructure Company specialized in building
construction, electrical, sanitary and plumbing works |
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Products/ services : |
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GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ramanatham and Rao Chartered Accountant |
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Address : |
302, Kalamansion, S D Road, P. B. No. 2101, Secundrabad – 500003,
Andhra Pradesh, India |
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Tel. No.: |
91-40-27814147/27949303 |
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Fax No.: |
91-40-27840307 |
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PAN.: |
AACFR1623C |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9548400 |
Equity Shares |
Rs.10/- each |
Rs. 95.484
Millions |
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|
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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|
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1] Share Capital |
95.484 |
0.500 |
0.100 |
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2] Share Application Money |
5.266 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.919 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
117.669 |
0.500 |
0.100 |
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
90.456 |
0.000 |
0.000 |
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2] Unsecured Loans |
5.386 |
0.000 |
0.000 |
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TOTAL BORROWING |
95.842 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
213.511 |
0.500 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
20.815 |
0.000 |
0.000 |
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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 |
0.143 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
91.128
|
0.000 |
0.000 |
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Sundry Debtors |
147.206
|
0.000 |
0.000 |
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Cash & Bank Balances |
5.689
|
0.464 |
0.073 |
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Other Current Assets |
46.883
|
0.000 |
0.000 |
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Loans & Advances |
0.033
|
0.000 |
0.000 |
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Total
Current Assets |
290.939
|
0.464 |
0.073 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
89.017
|
0.000 |
0.003 |
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Other Current Liabilities |
1.720
|
0.358 |
|
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Provisions |
9.033
|
0.000 |
0.000 |
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Total
Current Liabilities |
99.770
|
0.358 |
0.003 |
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Net Current Assets |
191.169
|
0.106 |
0.070 |
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MISCELLANEOUS EXPENSES |
1.384 |
0.394 |
0.030 |
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TOTAL |
213.511 |
0.500 |
0.100 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
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SALES |
|
|
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Gross Receipts from Contracts |
|
|
404.282 |
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Other Income |
|
|
2.372 |
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TOTAL (A) |
|
|
406.654 |
|
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
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Material Purchased |
|
|
266.595 |
|
|
|
Labour and Other Direct Cost |
|
|
153.156 |
|
|
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Operating Expanses |
|
|
31.102 |
|
|
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Director Remuneration |
|
|
3.250 |
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|
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Preliminary Expenses W/off |
|
|
0.346 |
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Increase/ Decrease Stock |
|
|
(91.128) |
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TOTAL (B) |
|
|
363.321 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
43.333 |
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Less |
FINANCIAL
EXPENSES (D) |
|
|
13.511 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
29.822 |
|
|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
4.013 |
|
|
|
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
25.809 |
|
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Less |
TAX (H) |
|
|
8.890 |
|
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|
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|
PROFIT AFTER TAX
(G-H) (I) |
|
|
16.919 |
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|
Earnings Per
Share (Rs.) |
|
|
1.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
4.16 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
6.38 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
8.28 |
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.22 |
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.66
|
0.72 |
0.03 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.92
|
1.30 |
24.33 |
LOCAL AGENCY FURTHER INFORMATION
NOTES:
The registered office address has been changed from D. No. 7-1-636/40,
Near Sunder Nagar, Model Colony, Adj. to
OPERATIONS
The directors are pleased to inform that the company has commenced its
operations during the year. The company has further orders during the year
2010-11. The company is able to achieve its turnover targets. The directors are
taking all measures for growth and development in the company’s business.
FORM 8
|
Corporate
identity number of the company |
U45200AP2006PTC051752 |
|
Name of the
company |
TCI CONSTRUCTIONS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D.No. 8-3-302/2/D, Maruthi Nagar, Email: tciconstructions@yahoo.co.in |
|
This form is for |
Creation
of charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Email : Ranjith.Fernando@hdfcbank.com |
|
Nature of
instrument creating charge |
Agreement Loan
and Guarantee. Contracts
No:3369385/402/406 = Rs.2.358 Millions
X 3Conts = Rs.7.074 Millions |
|
Date of
instrument Creating the charge |
02.05.2011 |
|
Amount secured by
the charge |
Rs. 7.074
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest @ 12.01
% p.a Terms of
Repayment: The Loan is
repayable in 35 EMIs of Rs. 0.241 Millions (Rs.0.018 million X 2Conts + Rs.0.080)
Starting from 5th June, 2011 ending to 5th April, 2014. Margin : As may stipulated
by bank from time to time Extent and
operation of charge: The Company
hypothecates to and charges in favour of the Bank by way of first and
exclusive charge of the Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs
and expenses incurred/to be incurred by the Bank and all other monies payable
or to become payable by the company to the Bank. Others: The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank's choice without reference to or without written
intimation to the company |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
3 nos of vehicle namely : amw the global truck - year of manufacturer 2011 |
FIXED ASSETS
- Plant and Machinery
- Land
- Building
- Air Conditioner
- Furniture and Fixture
- Vehicle
- Computer 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] 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.52.70 |
|
|
1 |
Rs.82.44 |
|
Euro |
1 |
Rs.71.08 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
TOTAL |
|
33 |
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.