MIRA
INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
TECNO DOORS PRIVATE LIMITED |
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Registered Office : |
A – 10, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
06.07.2006 |
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Com. Reg. No.: |
55-150621 |
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Capital Investment : |
Rs.274.417Millions |
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CIN No.: [Company
Identification No.] |
U28111DL2006PTC150621 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELT07435B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Automatic Doors and Spare – part, Accessories used in
Automatic Doors and Manual Doors. |
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No. of Employees : |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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 1037944 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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) |
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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 : |
A – 10, |
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Tel. No.: |
91-11-26967651 |
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Fax No.: |
91-11-26863576 |
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E-Mail : |
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Factory : |
Plot No. L – 1, Sipcot Industrial Park, Sriperumbudur Taluk,
Kancheepuram District – 602106, Tamilnadu, India |
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Tel. No.: |
91-44-67139541 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Eduard Gomis Egea |
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Designation : |
Director |
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Address : |
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Date of Birth : |
16.05.1977 |
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Date of Appointment : |
06.07.2006 |
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Name : |
Mr. Jaume Viella Bach |
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Designation : |
Director |
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Address : |
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Date of Birth : |
07.01.1973 |
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Date of Appointment : |
06.07.2006 |
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Name : |
Mr. Gomis Rabassa Juan Ramon |
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Designation : |
Director |
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Address : |
Fedric Solar, 78, |
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Date of Appointment : |
06.07.2006 |
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Name : |
Mr. Francisco Javier Lozano LLima |
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Designation : |
Director |
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Address : |
C/Josep M Benaiges I, Pujol 13, |
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Date of Birth : |
05.08.1974 |
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Date of Appointment : |
06.07.2006 |
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Name : |
Mr. Abhey George |
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Designation : |
Additional Director |
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Address : |
T-1, Golden Enclave, no. 7/8, SSR Pankajam Salai, Saligramam, Chennai
– 600093, Tamilnadu, India |
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Date of Appointment : |
03.09.2010 |
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Name : |
Mr. Yajna Prakash |
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Designation : |
Director |
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Address : |
D-35, Vijay Mandal Enclave, Hauz Khas, |
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Date of Birth : |
01.02.1975 |
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Date of Appointment : |
06.07.2006 |
Other Directorship
Name:
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YAJNA PRAKASH
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Name : |
Mr. Eduard Amigo Correig |
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Designation : |
Director |
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Address : |
C/Duesaigues I, |
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Date of Birth : |
01.06.1972 |
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Date of Appointment : |
06.07.2006 |
Other Directorship
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Tecnolama Address : CTRA, Constanti, KM -3, |
|
17409721 |
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Technical Minds Investments S.L. Address : Polic Industr, Soet Dels, Capellans, Paragelanig, |
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1 |
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Total |
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17409822 |
As On 30.09.2010
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S. No. |
Category |
Percentage |
|
1 |
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Automatic Doors and Spare – part, Accessories used in
Automatic Doors and Manual Doors |
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No. of Employees : |
100 (approximately) |
GENERAL INFORMATION
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Bankers : |
Scheduled Banks |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M.D. Gujrati and Company Chartered Accountant |
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Address : |
573, 3rd Floor, |
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Name : |
E. Radhakrishnan and Company |
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Address : |
20 (Old No. 9), East Road, West C I T Nagar, Chennai – 600035, Tamil
Nadu, India |
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Holding Company : |
Tecnolama S.A. , Spain |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3,00,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,74,41,722 |
Equity Shares |
Rs. 10/-
each |
Rs.274.417Millions
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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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1] Share Capital |
274.417 |
274.417 |
174.097 |
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2] Share Application Money |
0.001 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.265 |
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4] (Accumulated Losses) |
(14.932) |
(2.411) |
0.000 |
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NETWORTH |
259.486 |
272.006 |
174.362 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
8.177 |
0.000 |
0.000 |
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TOTAL |
267.663 |
272.006 |
174.362 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
279.311 |
9.434 |
9.531 |
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Capital work-in-progress |
0.000 |
269.345 |
169.359 |
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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 |
76.243
|
46.969 |
15.006 |
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Sundry Debtors |
55.189
|
39.671 |
5.537 |
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Cash & Bank Balances |
26.229
|
14.250 |
6.479 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
25.423
|
13.166 |
20.204 |
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Total
Current Assets |
183.084
|
114.056 |
47.226 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
170.204
|
119.797 |
49.308 |
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Other Current Liabilities |
22.564
|
0.000 |
0.000 |
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Provisions |
2.028
|
1.128 |
2.573 |
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Total
Current Liabilities |
194.796
|
120.925 |
51.881 |
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Net Current Assets |
(11.712)
|
(6.869) |
(4.655) |
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MISCELLANEOUS EXPENSES |
0.064 |
0.096 |
0.127 |
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TOTAL |
267.663 |
272.002 |
174.362 |
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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 |
270.420 |
94.114 |
5.123 |
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Other Income |
17.062 |
0.691 |
0.716 |
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TOTAL (A) |
287.482 |
94.806 |
5.839 |
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Less |
EXPENSES |
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Material Consumed |
238.472 |
86.642 |
4.062 |
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Administration Expenses |
9.948 |
10.777 |
1.343 |
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Preliminary Expenses |
0.129 |
0.031 |
0.031 |
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Employee Cost |
10.266 |
0.000 |
0.000 |
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Repairs & Maintenance |
7.692 |
0.000 |
0.000 |
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TOTAL (B) |
266.507 |
97.450 |
5.432 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
20.975 |
(2.644) |
0.403 |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.975 |
(2.644) |
0.403 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.316 |
0.000 |
0.000 |
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PROFIT BEFORE
TAX (E-F) (G) |
(4.341) |
(2.644) |
0.403 |
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Less |
TAX (I) |
8.177 |
0.032 |
0.138 |
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PROFIT AFTER TAX
(G-I) (J) |
(12.518) |
(2.676) |
0.265 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.411) |
0.000 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
(14.929) |
(2.676) |
0.265 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(4.35)
|
(2.82) |
4.53 |
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Net Profit Margin (PBT/Sales) |
(%) |
(1.60)
|
(2.80) |
7.86 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(0.93)
|
(2.14) |
0.71 |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.00 |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.75
|
0.44 |
0.29 |
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Current Ratio (Current Asset/Current Liability) |
|
0.93
|
0.94 |
0.91 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
- Plant and Machinery
- Computer, Printers, etc.
- Factory Building
- Furniture and Fixtures
- Motor Vehicles
- Lease Hold Land
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. 49.07 |
|
|
1 |
Rs. 76.65 |
|
Euro |
1 |
Rs. 66.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
26 |
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.