%20PRIVATE%20LIMITED%20-%20157293%2014-Oct-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
TERMINAL TECHNOLOGIES ( |
|
|
|
|
Registered Office : |
305 Alankar Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
29.03.1993 |
|
|
|
|
Com. Reg. No.: |
11-71352 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.3.010 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U7499MH1993PTC071352 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of chain terminals and plastic couplers |
|
|
|
|
No. of Employees
: |
250 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 859000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. General
financial position of the company is good. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Satish |
|
Designation : |
Account Executive |
|
Contact No.: |
91-250-6453661 |
|
Date : |
13.10.2011 |
LOCATIONS
|
Registered
Office : |
305 Alankar Industrial Estate, |
|
Tel. No.: |
91-22-28752084 / 28753984 / 28429746 91-250-6453661 |
|
Fax No.: |
91-22-28759810 / 28749810 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory 1: |
Terminal House, Building No. 3, Merchant Industrial Complex, Valiv, Vasai
(East), District Thane - 401202, Maharashtra, India |
|
Tel. No.: |
91-250-6453661 / 63 / 2456253 / 2456254 /
2456255 / 6450751 |
|
Fax No.: |
91-250-2456154 |
|
Location: |
Rented |
|
|
|
|
Factory 1: |
Gut #312/2, Nanekarwadi Industrial Area, Opposite Bosch Chasis
Systems, Chakan, Pune – 410501, Maharashtra, India |
|
Tel. No.: |
91-2135-660694 / 95 / 97 |
DIRECTORS
As on 21.08.2010
|
Name : |
Mr. Anto Chirayath Anthony |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
602, Farry Apts, Marve Road, Malad (W), Mumbai - 400064, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||
|
Date of
Birth/Age : |
22.05.1966 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Diploma in.Elec. Engg. |
||||||||||||||||||||||||||||||||||||||||
|
Experience : |
20 Years |
||||||||||||||||||||||||||||||||||||||||
|
Date of
Appointment : |
29.03.1993 |
||||||||||||||||||||||||||||||||||||||||
|
DIN : |
00890215 |
||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship : |
|
||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sanjay Vanraj Negandhi |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
A 1/9, Sai Milap Sai Baba Complex, |
||||||||||||||||||||||||||||||||||||||||
|
Date of
Birth/Age : |
09.03.1966 |
||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
Diploma in.Elec. Engg. |
||||||||||||||||||||||||||||||||||||||||
|
Experience : |
20 Years |
||||||||||||||||||||||||||||||||||||||||
|
Date of
Appointment : |
03.05.1999 |
||||||||||||||||||||||||||||||||||||||||
|
DIN : |
00890393 |
||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship : |
|
||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Satish |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Anto Chrayath Anthony |
|
14710 |
|
Sanjay Vanraj Negandhi |
|
9730 |
|
Sonal Sanjay Negandhi |
|
5380 |
|
Asha Cheirayath Anto |
|
250 |
|
Divyang Monanmi |
|
10 |
|
R. B. Rappai |
|
10 |
Equity Share Break
up As on 21.08.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of chain terminals and plastic couplers |
|
|
|
|
Products : |
Cable Terminal and Couplers |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Depend |
|
|
|
|
Purchasing : |
Depend |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Terminal |
Nos.[,000] |
- |
539173 |
|
Plastic Coupler |
Nos.[,000] |
- |
54224 |
GENERAL INFORMATION
|
Customers : |
End users and OEM’s
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately ) |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
M. S. Sheth and Association Chartered Accountants |
|
Address : |
13 Shraddha, Above Annapurna Mahila, 2nd Floor, K. V. Chitale Path,
Dadar (W), Mumbai - 400028, Maharashtra, India |
|
Tel. No.: |
91-22-24320935/24226319 |
|
PAN : |
AAOPS2537G |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 21.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 100/-
each |
Rs. 5.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30100 |
Equity Shares |
Rs. 100/-
each |
Rs. 3.010
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.010 |
3.010 |
3.010 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
211.865 |
168.260 |
135.521 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
214.875 |
171.270 |
138.531 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
34.067 |
23.663 |
24.739 |
|
|
2] Unsecured Loans |
6.820 |
7.820 |
7.830 |
|
|
TOTAL BORROWING |
40.887 |
31.483 |
32.569 |
|
|
DEFERRED TAX LIABILITIES |
3.961 |
3.152 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
259.723 |
205.905 |
171.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
97.483 |
78.688 |
62.115 |
|
|
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 |
41.796
|
30.795 |
39.611
|
|
|
Sundry Debtors |
123.570
|
86.622 |
108.216
|
|
|
Cash & Bank Balances |
2.664
|
4.323 |
2.972
|
|
|
Other Current Assets |
0.000 |
0.000 |
0.000
|
|
|
Loans & Advances |
64.601
|
52.436 |
44.071
|
|
Total
Current Assets |
232.631
|
174.176 |
194.870
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
47.028
|
29.563 |
64.239 |
|
|
Other Current Liabilities |
0.125
|
0.510 |
0.435
|
|
|
Provisions |
23.238
|
16.886 |
21.211
|
|
Total
Current Liabilities |
70.391
|
46.959 |
85.885
|
|
|
Net Current Assets |
162.240
|
127.217 |
108.985
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
259.723 |
205.905 |
171.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
385.236 |
289.945 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
317.320 |
237.118 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
67.916 |
52.827 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
22.551 |
18.328 |
|
|
|
|
|
|
|
|
|
. |
PROFIT AFTER TAX
|
|
45.365 |
34.499 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
26.299 |
5.181 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1507.15 |
- |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
More than
500.000 |
Expected Sales ( 2011-2012 ) : Rs.750.000 millions
The above information has been parted by Mr. Satish [Account Executive].
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.78 |
18.22 |
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.57
|
20.89 |
NA
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.31 |
NA
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.52
|
0.46 |
0.86
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.30
|
3.71 |
2.27
|
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report [Yes/No] |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Construction of the firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoters background |
- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of contact
person |
Yes |
|
Turnover of firm for last
three years |
Yes |
|
Profitability for last
three years |
No |
|
Reasons for variation
<> 20% |
- |
|
Estimation for coming
financial year |
Yes |
|
Capital the business |
Yes |
|
Details of sister
concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
Yes |
|
Payment Terms |
Yes |
|
Export / Import Details
[If Applicable] |
Yes |
|
Market Information |
- |
|
Litigations that the firm
/ promoter involved in |
- |
|
Banking Details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the banking
account |
- |
|
Buyer visit details |
- |
|
Financials, if provided |
No |
|
Incorporation details, if
applicable |
- |
|
Last accounts filed at ROC |
- |
|
Major Shareholders, if
applicable |
- |
Sundry Creditors :
Rs. In millions
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Creditors for Goods |
23.127
|
14.967 |
46.119 |
|
Creditors for Expenses |
23.901
|
14.596 |
18.120 |
|
Total |
47.028
|
29.563 |
64.239 |
Financial Results:
The Company has
earned net profit of Rs.67.916 millions before tax on gross sales and other
income of Rs.385.236 millions during the year and after providing for the Income
tax, deferred tax liability, General Reserves and proposed dividend the balance
is carried to Balance Sheet.
Trade Reference:
·
Bajaj
·
Mahindra and Mahindra
·
Maruti
·
Suzuki
Form 8
|
Name of the
company |
TERMINAL TECHNOLOGIES ( |
|
Presented By |
Oriental Bank of Commerce, Malad (West)
Branch, Mumbai - 400064, |
|
1) Date and
description of instrument creating the change |
18.12.2004, Agreement for Term Loan |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 3.900 Millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
At the request of the borrower, the bank has
sanctioned fresh term loan for purchase of imported machineries. To secure
the due repayment of the term loan and interest thereon the hypothecation in
favour of the bank on new plant and machinery having aggregate value of Rs.
6.037 Millions purchased / to be purchased by the borrower company and lying
at borrowers premises at Vasai or wherever else, which includes all fittings,
fixtures, tools, etc whatsoever pertaining to the hypothecated assets and all
replacements of or addition made to the hypothecated assets from time to
time. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of Interest at the rate of 2.00 % p.a.
over the prime lending rate of the bank with minimum of 13% p.a. to be calculated
on the daily balance and charged on monthly the bank from time to time as
prescribed by RBI and for all costs, charges, Installments of Rs. 0.130
Million 1st installment from 18.01.2005 penal interest of 2% p.a. in case of
default or such other rate as may be prescribed by the bank from time to
time. |
|
5) Name and
Address and description of the person entitled to the charge. |
Oriental Bank of Commerce, Malad (W) Branch,
Mumbai - 400064, |
Form 8
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
80021265 |
|
Corporate
identity number of the company |
U74999MH1993PTC071352 |
|
Name of the
company |
TERMINAL TECHNOLOGIES ( |
|
Address of the registered
office or of the principal place of
business in |
305 Alankar Industrial Estate, |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Oriental Bank of Commerce, Malad (W) Branch,
Vikas Chambers, Ground Floor, Link Road, Malad (W), Mumbai - 400064,
Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
No Instrument- Extension of Mortgage |
|
Date of
instrument Creating the charge |
22.05.2008 |
|
Amount secured
by the charge |
Rs. 53.648 Millions |
|
Brief
particulars of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest : As agreed by the Borrower Company with the
Bank. Margin : As agreed by the Borrower Company with the
Bank. Terms of repayment : As agreed by the Borrower Company with the
Bank. Extent and operation of the charge : At the request of the Borrower the bank has
enhanced the overall banking limits to Rs. 53.648 Millions. To secure the due
repayment of the Banking limits and for all costs, interest and other charges
thereon, continuation of the charge on Gala no. 110 and 111 on 1st floor, Building no 7, Merchant
Industrial Estate, Valiv, Vasai (East), Dist. Thane The Charge Stands modified from Rs. 33.648
Millions to Rs.53.648 Millions. Others
NA |
|
Short particulars of the property charged |
At the request of the Borrower the bank has enhanced
the overall banking limits to Rs. 53.648 Millions. To secure the due
repayment of the Banking limits and for all costs, interest and other charges
thereon, continuation of the charge on Gala no. 110 and 111 on 1st floor, Building no 7, Merchant Industrial Estate, Valiv, Vasai (East),
Dist. Thane The Charge Stands modified from Rs. 33.648
Millions to Rs.53.648 Millions. |
|
Date of latest
modification prior to the present modification |
16.01.2007 |
|
Particulars of
the present modification |
At the request of the Borrower the bank has
enhanced the overall banking limits to Rs. 53.648 Millions. To secure the due
repayment of the Banking limits and for all costs, interest and other charges
thereon, continuation of the charge on Gala no. 110 and 111 on 1st floor, Building no 7, Merchant
Industrial Estate, Valiv, Vasai (East), Dist. Thane. The Charge Stands modified from Rs. 33.648
Millions to Rs.53.648 Millions. |
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.49.02 |
|
|
1 |
Rs.77.12 |
|
Euro |
1 |
Rs.67.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.