MIRA
INFORM REPORT
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Report Date : |
10.09.2011 |
IDENTIFICATION DETAILS
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Name : |
TRANS TECH TURNKEY PRIVATE LIMITED |
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Registered Office : |
101, Mayfair Tower II, Wakdewadi, Shivaji Nagar, Pune –
411 005, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
25.06.2002 |
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Com. Reg. No.: |
11-17079 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
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CIN No.: [Company
Identification No.] |
U29299PN2002PTC017079 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Turnkey contractor for infrastructure and HVAC projects. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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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 530000 |
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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 a well established company having satisfactory track records. Trade relations are fair. Payments are reported to be 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. Amol Khandekar |
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Designation : |
Finance Manager |
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Contact No.: |
91-9922964778 |
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Date : |
09.09.2011 |
LOCATIONS
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Registered Office : |
101, Mayfair Tower II, Wakdewadi, Shivaji Nagar, Mumbai – |
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Tel. No.: |
91-20-24017884 / 66214444 |
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Mobile No.: |
91-9922964778 (Mr. Amol Khandekar) |
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Fax No.: |
91-20-24017884 / 66012788 / 66214440 |
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E-mail : |
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Website : |
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Area : |
1800 Sq. ft. |
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Location : |
Owned |
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Branches : |
KOLKATA 708, Central Plaza, 2/6, Sarat Bose Road, Kolkata-700020, West Bengal, India Tel No.: 91-33-24190781 Fax No.: 91-33-24190784 MUMBAI B/3, Ground Floor, Labella Cooperative Housing Society, Azad Road, Opposite Laxmi Vilash Bank, Andheri (East), Mumbai400069, Maharashtra, India Tel No.: 91-22-26836029 Fax No.: 91-22-26841119 OMAN Tamiar Trans Tech LLC, P. O Box 1025, PC 112, Ruwi Sultanate Oman. |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Suranjan Kumar Chatterjee |
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Designation : |
Director |
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Address : |
10-Prasanna 912 Shivaji Nagar, Pune – 411004, |
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Date of Birth/Age : |
27.10.1953 |
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Qualification : |
IIT |
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Date of Appointment : |
25.06.2002 |
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DIN No.: |
01112079 |
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CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
U17226PN1997PTC014590 |
Brintons
Carpets Asia Private Limited |
Director |
05-05-98 |
05-05-98 |
16-10-06 |
Active |
NO |
|
U74210PN2000PTC015515 |
Archivista
Engineering Services Private Limited |
Director |
08-11-00 |
08-11-00 |
15-10-10 |
Active |
NO |
|
U24119PN1999PTC013415 |
Transtech
Chemicals Private Limited |
Director |
01-01-01 |
01-01-01 |
- |
Active |
NO |
|
U29299PN2002PTC017079 |
Trans
Tech Turnkey Private Limited |
Director |
25-06-02 |
25-06-02 |
- |
Active |
NO |
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Name : |
Mr. Ulhas Vasant Pradhan |
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Designation : |
Director |
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Address : |
5-6 Anant CTS No. 120 6/A, |
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Date of Birth/Age : |
10.08.1951 |
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Qualification : |
IIT |
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Date of Appointment : |
25.06.2002 |
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DIN No.: |
00132349 |
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S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74999PN2001PTC016288 |
Blue
Bell Services Private Limited |
Director |
29-06-01 |
29-06-01 |
Active |
NO |
|
2 |
U29299PN2002PTC017079 |
Trans
Tech Turnkey Private Limited |
Director |
25-06-02 |
25-06-02 |
Active |
NO |
|
3 |
U31900MH2007PTC170560 |
Nirmiti
Precision Private Limited |
Director |
04-05-07 |
04-05-07 |
Active |
NO |
|
Name : |
Mr. Sugato Himanshu Mujumdar |
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Designation : |
Director |
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Address : |
A-902, Lapi 2, Lasuli, Kolate Patil South, Main Road, Koregaon Park, Pune – 411 001, Maharashtra, India |
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Date of Birth/Age : |
29.08.1956 |
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Qualification : |
IIT |
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Date of Appointment : |
25.06.2002 |
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DIN No.: |
00139375 |
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S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U29299PN2002PTC017079 |
Trans
Tech Turnkey Private Limited |
Director |
25-06-02 |
25-06-02 |
Active |
NO |
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Name : |
Mr. Alokendranath S. Ghosh |
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Designation : |
Director |
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Address : |
9-Marvel Residency, |
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Date of Birth/Age : |
01.01.1962 |
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Qualification : |
Diploma in Electrical Engineering |
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Date of Appointment : |
25.06.2002 |
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DIN No.: |
00139306 |
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S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U29299PN2002PTC017079 |
Trans
Tech Turnkey Private Limited |
Director |
25-06-02 |
25-06-02 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 30.09.2010)
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Names of Shareholders |
No. of Shares |
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Suranjan K Chatterjee |
48750 |
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Ulhas V Pradhan |
48750 |
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Sugato H Mujumdar |
48750 |
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Mr. Alokendranath S. Ghosh |
48750 |
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Mr. Arun Avro Chatterjee |
5000 |
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Total |
200000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2010)
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Category |
Percentage |
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Directors or Relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Turnkey contractor for infrastructure and HVAC projects. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Industrial |
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No. of Employees : |
250 (Approximately) |
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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 : |
A.
A. Mehendale and Company Chartered Accountant |
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Address : |
Flat No. 9, Ajit Society, Happy Colony, Lane No. 4, Kothrud, Pune –
411029, |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000
Millions |
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Note:
(Out of the above 179000 equity shares of Rs.
100/- each issued as fully paid up bonus shares otherwise than for cash)
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 |
20.000 |
20.000 |
20.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
113.779 |
103.177 |
89.664 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
133.779 |
123.177 |
109.664 |
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LOAN FUNDS |
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1] Secured Loans |
131.125 |
182.387 |
105.997 |
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2] Unsecured Loans |
0.640 |
0.612 |
0.589 |
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TOTAL BORROWING |
131.765 |
182.999 |
106.586 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
265.544 |
306.176 |
216.250 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
111.399 |
103.178 |
44.066 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.785 |
4.389 |
1.700 |
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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 |
127.433
|
105.963 |
64.953 |
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Sundry Debtors |
214.239
|
231.756 |
257.142 |
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Cash & Bank Balances |
56.673
|
18.586 |
78.775 |
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Other Current Assets |
151.892
|
99.259 |
36.640 |
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Loans & Advances |
129.793
|
176.156 |
90.842 |
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Total
Current Assets |
680.030
|
631.720 |
528.352 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
161.582 |
160.064 |
113.250 |
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Other Current Liabilities |
349.173
|
259.910 |
171.948 |
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Provisions |
28.915
|
13.137 |
72.670 |
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Total
Current Liabilities |
539.670
|
433.111 |
357.868 |
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Net Current Assets |
140.360
|
198.609 |
170.484 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
256.544 |
306.176 |
216.250 |
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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) |
1393.834 |
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EXPENSES |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
1324.356 |
NA |
NA |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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FINANCIAL
EXPENSES (D) |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
69.800 |
44.500 |
131.500 |
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DEPRECIATION/
AMORTISATION (F) |
17.900 |
12.900 |
7.000 |
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PROFIT BEFORE
TAX (E-F) (G) |
51.600 |
31.400 |
124.500 |
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TAX (I) |
17.800 |
12.200 |
42.800 |
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PROFIT AFTER TAX
(G-I) (J) |
33.800 |
19.100 |
81.800 |
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Earnings Per
Share (Rs.) |
169 |
96 |
NA |
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
1700.000 |
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The above information has been parted by Mr.
Amol Khandekar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
2.42
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.52
|
4.27 |
21.75 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.38
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0.25 |
1.13 |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.02
|
5.00 |
4.23 |
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Current Ratio (Current Asset/Current Liability) |
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1.26
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1.46 |
1.48 |
LOCAL AGENCY FURTHER INFORMATION
The Details of
Sundry Details:
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
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For Purchases |
105.265 |
101.415 |
88.192 |
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For Expenses |
56.317 |
58.649 |
25.058 |
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Total |
161.582 |
160.064 |
113.250 |
REVIEW OF
OPERATIONS:
The Company has performed much better with respect to the earlier years’ performance. Sales recorded a 22% growth over the earlier financial year. Sales turnover grew from Rs. 1140.000 Millions in 2008-09 to Rs. 1390.000 Millions in 009-10.
The financial year 2009-10 started with the order backlog of Rs. 1940.000 Millions, however, Company was successful in booking orders worth Rs. 400.000 Millions till to the end of financial year March 2010. The strong order, booking helped the Company to push the sales to the tune of Rs. 1390.000 Millions in the financial year 2009-10 and there is carry forward of Rs. 2840.000 Millions worth of orders to the next financial year.
The Company has done extremely well in controlling cost as well as adding value by value engineering in terms of turnkey contract services and that has resulted in improvement in earnings before tax which grew from Rs. 31.400 cores in FY 2008-09 to Rs. 51.600 millions in FY 2009-10.
The Directors firmly
believe in the motto that people resources drive the collective strength of its
diverse business demand. A special emphasis is therefore given to nurturing and
developing talent, so as to create a strong team of committed and empowered
professionals who steer the group’s diverse business needs.
The Directors are
extremely committed in taking and focused action that will lead to
accomplishment of these strategic priorities for the Company. To ensure that
the top management of the Company is being directed to define the Performance
Management process (PMP) by which the Company continues to build a performance
based culture which will ultimately drive stronger business results.
FUTURE OUTLOOK:-
The directors take
great pleasure to mention that the Company has bagged very good orders from premium
customers during first six months of the financial year 2010-11. The list of
such orders is as following:
|
Customer |
Value of the order (Amount in Rs. Millions) |
Period |
|
IISCO – Bhurpur |
300.000 |
1 years |
|
SAIL Bokaro |
1270.000 |
2 years |
|
SMI New Quest –
Sewa |
70.000 |
3 Years |
Directors feel
confident in achieving the performance in line with the earlier years with the
good order book position of Rs. 4500.000 Millions in hand. So there long term projections
remain unaffected.
Contingent Liabilities:
a)
Bank Guarantee of Rs.
787.400 Millions
b)
Trade Reference:
·
ONGC
·
Sandoz
·
Taj
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U29299PN2002PTC017079 |
|
Name of the company |
TRANS TECH TURNKEY PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
101 |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable
property (not being pledge) |
|
Particular of charge holder |
HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai – 400013, |
|
Nature of instrument creating charge |
Agreement for Loan and Guarantee. (Contracts No.: 3330621) |
|
Date of instrument Creating the charge |
29.07.2010 |
|
Amount secured by the charge |
Rs. 1.674 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
(a)
Rate of interest Interest @ 9.27 % p.a. (b)
Terms of repayment The Loan is repayable in 34 EMIs of Rs.56610/- starting from 20th
September, 2010 ending on 20th June, 2013. (c)
Margin As may be stipulated by bank from time to time. (d)
Extent and operation of the 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. (e)
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 Equipment namely : JCB 3 DX (Year Of Manufacture:
2010) |
Fixed Assets:
- Office Premises
- Vehicle
- Engineering Equipments
- Office Equipments
- Guest House Equipments
- Computer and Software
- Furniture
- Electrical Installation
- Wagholi Godown
- 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.46.38 |
|
|
1 |
Rs.74.00 |
|
Euro |
1 |
Rs.64.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.