MIRA
INFORM REPORT
|
Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
TRISTAR INDUSTRIAL TOOLS PRIVATE LIMITED |
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Registered
Office : |
Plot 268, Pandey Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
18.12.1991 |
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Com. Reg. No.: |
11-064525 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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CIN No.: [Company Identification
No.] |
U99999MH1991PTC064525 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNET04291A |
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PAN No.: [Permanent Account No.] |
AABFT7227P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Industrial Handling Tools. |
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No. of Employees
: |
60 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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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 3600 |
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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. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for normal business dealings with some
cautions. |
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. Sampat |
|
Designation : |
Marketing Manager |
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Contact No.: |
91-22-25853106 |
|
Date : |
17.04.2012 |
LOCATIONS
|
Registered Office / Factory: |
Plot 268, Pandey Industrial Estate, Pokhran Road No. 1, Upvan,
Thane-400606, Maharashtra, India |
|
Tel. No.: |
91-22-25853106/25853107/25853993/25856624 |
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Mobile No.: |
91-9892373573 [Mr. Naresh Purswani] 91-9820120501 [Mr. B. Bhaskar] |
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Fax No.: |
91-22-25853945 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Annapurna Banurao Barishetty |
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Designation : |
Director |
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Address : |
B 1103, 11th Floor, Thane-400601, Maharashtra, India |
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Date of Birth/Age : |
23.09.1943 |
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Date of Appointment : |
18.12.1991 |
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Din No.: |
03515735 |
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Name : |
Mr. Naresh Pamandas Purswani |
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Designation : |
Director |
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Address : |
T-1001, Runwal Plaza, Thane-400606, Maharashtra, India |
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Date of Birth/Age : |
30.12.1964 |
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Date of Appointment : |
18.12.1991 |
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Din No.: |
02608975 |
KEY EXECUTIVES
|
Name : |
Mr. Sampat |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Naresh Pamandas Purswani |
|
500 |
|
Annapurna Banurao Barishetty |
|
500 |
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Total |
|
1000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Industrial Handling Tools. |
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Exports : |
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Products : |
Handling Tools |
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Countries : |
Gulf Countries |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Gulf Countries |
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Terms : |
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Selling : |
L/C/ Cash and Credit [30 and 60 days] |
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Purchasing : |
L/C/ Cash and Credit [30 and 60 days] |
GENERAL INFORMATION
|
Suppliers : |
·
B.S.
Metal Finishing ·
Excalibur
Industry ·
Jasmine
Engineering Works ·
Jesin
Engineering Works ·
Jugnu
Engineering Works ·
Pratik
Engineering Works ·
Shakti
Enterprise ·
Amizara
Trading Corporation ·
Bharat
Traders ·
Hindustan
Enterprises ·
Active
Enterprises ·
Divya
Corporation ·
Indo
Lube ·
Juilee
Printers ·
Impex
Industrial Corporation |
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Customers : |
Wholesalers and Others [Manufacturer] ·
Ashok Leyland Limited ·
Asia Motorworks Limited ·
Bharat Heavy Electricals, Bhopal ·
Birla Corporation Limited ·
Ceat Limited, Nashik ·
Central Railway, Bhusawal ·
Data Enterprises ·
Dembla Valves Limited, Thane ·
Eaton Industrial Systems Private Limited ·
Eicher Tractors, Manideep ·
Ford India Private Limited ·
Flakt (India) Limited ·
Gail India, M.P. ·
Gea Ecoflex India Private Limited ·
Gharda Chemicals |
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No. of Employees : |
60 [Approximately] |
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Bankers : |
·
The Ratnakar Bank ·
The Saraswat Bank ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Divyesh Doshi and Associates Chartered Accountants |
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Address : |
228, Runwal Commercial Complex, 2nd Floor, LBS Marg, Near
Santosh Mata Mandir, Mulund (West), Mumbai-400080, Maharashtra, India |
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Tel. No.: |
91-2267703837/67703839 |
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Pan No.: |
AABPD4830A |
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Associates : |
·
Tristar Industrial Equipment ·
Tristar International ·
Tritool Industries |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100
Million |
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.822 |
0.626 |
0.525 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.922 |
0.726 |
0.625 |
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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 |
2.632 |
2.597 |
0.403 |
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TOTAL BORROWING |
2.632 |
2.597 |
0.403 |
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DEFERRED TAX LIABILITIES |
0.033 |
0.048 |
0.060 |
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TOTAL |
3.587 |
3.371 |
1.088 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.419 |
2.787 |
3.086 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.326
|
1.855 |
2.576 |
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Sundry Debtors |
11.994
|
15.656 |
12.031 |
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Cash & Bank Balances |
3.405
|
1.245 |
1.046 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.144
|
0.878 |
1.874 |
|
Total
Current Assets |
21.869
|
19.634 |
17.527 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
10.272
|
9.186 |
7.661 |
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Other Current Liabilities |
10.322
|
9.736 |
11.864 |
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Provisions |
0.107
|
0.128 |
0.000 |
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Total
Current Liabilities |
20.701
|
19.050 |
19.525 |
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Net Current Assets |
1.168
|
0.584 |
(1.998) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.587 |
3.371 |
1.088 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
30.969 |
31.187 |
31.079 |
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Other Income |
0.030 |
0.031 |
0.005 |
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TOTAL |
30.999 |
31.218 |
31.084 |
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|
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
30.712 |
31.001 |
30.984 |
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Advertising Expenses |
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TOTAL |
30.712 |
31.001 |
30.984 |
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PROFIT / (LOSS)
BEFORE TAX |
0.287 |
0.217 |
0.100 |
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Less |
TAX |
0.091 |
0.116 |
0.080 |
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PROFIT / (LOSS)
AFTER TAX |
0.196 |
0.101 |
0.020 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.626 |
0.525 |
0.505 |
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BALANCE CARRIED
TO THE B/S |
0.822 |
0.626 |
0.525 |
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|
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|
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|
Earnings /
(Loss) Per Share (Rs.) |
195.67 |
101.00 |
-- |
|
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Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover [Approximately] |
|
30.000 |
35.000 |
Expected Sales (2012-13) : Rs.40.000 Millions.
The above information has been parted by Mr. Sampat.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.63
|
0.32 |
0.06 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
0.93
|
0.70 |
0.32 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.18
|
0.97 |
0.49 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.30 |
0.16 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
25.31
|
29.82 |
31.88 |
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|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.03 |
0.90 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors
For Goods |
9.763 |
8.664 |
7.365 |
|
Sundry Creditors
For Expenses |
0.509 |
0.522 |
0.296 |
|
Total |
10.272 |
9.186 |
7.661 |
PARTIAL DETAILS OF
SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
B.S. Metal
Finishing |
0.108 |
0.146 |
0.000 |
|
Excalibur
Industry |
0.273 |
0.000 |
0.000 |
|
Jasmine
Engineering Works |
0.149 |
0.139 |
0.060 |
|
Jesin Engineering
Works |
0.177 |
0.065 |
0.000 |
|
Jugnu Engineering
Works |
0.128 |
0.106 |
0.000 |
|
Pratik
Engineering Works |
0.207 |
0.000 |
0.046 |
|
Shakti Enterprise |
0.127 |
0.063 |
0.028 |
|
Amizara Trading
Corporation |
0.305 |
0.000 |
0.000 |
|
Bharat Traders |
0.217 |
0.096 |
0.000 |
|
Hindustan
Enterprises |
0.281 |
0.089 |
0.086 |
|
Check List by Info
Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
Yes |
NOTE:
The registered office of the company has been shifted from C 71, Premnagar Co-opertive Housing Society, Thane (East), Maharashtra, India to the present address.
FIXED ASSETS:
·
Computer
·
Typewriter
·
Machinery
·
Office Equipments
·
Gala
·
Furniture
·
Tow Wheeler
·
Air Conditioner
·
Xerox Machinery
·
Inverter
·
Fax Machine
·
Mobile
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.51.63 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
28 |
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.