1. Summary Information
|
|
|
Country |
India |
|
Company Name |
TTP Technologies Private Limited |
Principal Name 1 |
Mr. Mohandas Dejoo Shetty |
|
Status |
Moderate |
Principal Name 2 |
Mr. Renee Mohandas Shetty |
|
|
|
Registration # |
004963 |
|
Street Address |
# 486 ‘D’, 4th Phase, 13th Cross, Peenya
Industrial Area, Near Atlanta Pumps, Bangalore – 560058, Karnataka, India |
||
|
Established Date |
21.09.1982 |
SIC Code |
-- |
|
Telephone# |
91-80-28394918/ 28361488 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-80-28394304 |
Business Style 2 |
-- |
|
Homepage |
www.ttpradiators.com |
Product Name 1 |
Transformer Radiators Heat Exchangers |
|
# of employees |
1200
(Approximately) |
Product Name 2 |
Other Heat Exchanger Systems of Various Designs. |
|
Paid up capital |
Rs.24,880,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 0.56%, Directors or relatives of directors
98.38%, Other top fifty shareholders 1.06% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
30
years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (39) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Party |
-- |
MPP Technologies Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
676,634,000 |
Current Liabilities |
152,525,000 |
|
Inventories |
103,942,000 |
Long-term Liabilities |
288,610,000 |
|
Fixed Assets |
317,142,000 |
Other Liabilities |
212,382,000 |
|
Deferred Assets |
000 |
Total Liabilities |
653,517,000 |
|
Invest& other Assets |
836,000 |
Retained Earnings |
420,157,000 |
|
|
|
Net Worth |
445,037,000 |
|
Total Assets |
1,098,554,000 |
Total Liab. & Equity |
1,098,554,000 |
|
Total Assets (Previous Year) |
932,030,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,500,711,000 |
Net Profit |
100,990,000 |
|
Sales(Previous yr) |
1,627,214,000 |
Net Profit(Prev.yr) |
149,671,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
TTP TECHNOLOGIES PRIVATE LIMITED [w.e.f. 12.06.2006] |
|
|
|
|
Formerly Known
As : |
Thermal Transfer Products Private Limited |
|
|
|
|
Registered
Office : |
# 486 ‘D’, 4th Phase, 13th Cross, Peenya
Industrial Area, Near Atlanta Pumps, Bangalore-560058, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
21.09.1982 |
|
|
|
|
Com. Reg. No.: |
08-004963 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.24.880
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909KA1982PTC004963 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRT02462F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT7188B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Transformer Radiators Heat Exchangers and other Heat
Exchanger Systems of Various Designs. |
|
|
|
|
No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 1780000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having moderate track. Management
have failed to file the financial details for the year 2011 with the
government department. However, from the previous year track records,
performing capacity seems to be good and financial performance is in the
positive direction. Business is active. Payments are reported to be unknown. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A2+ (Short Term) |
|
Rating Explanation |
Having strong degree of safety regarding timely payment of financial
obligation, it carry low credit risk. |
|
Date |
14.10.2011 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
# 486 ‘D’, 4th Phase, 13th Cross, Peenya
Industrial Area, Near Atlanta Pumps, Bangalore-560058, Karnataka, India |
|
Tel No.: |
91-80-28394918 / 28361488 |
|
Fax No.: |
91-80-28394304 |
|
E-Mail : |
yeness@rediffmail.com |
|
Website : |
www.ttpradiators.com |
|
|
|
|
Overseas Office: |
For UK and
Continental Europe: Mr. Sameer Shetty S.M.S. Trading Corporation Limited Cell: 0044 7956 385 761 For North America and Canada: M.L Gopal Representing : TTP Technologies Private Limited, India 513, Cheokee Drive, Temple TX 76504 Tel\Fax: 254 742 1979 Cell: 408-828-0024 Email: shanthigopal@sbcglobal.net Jim Van Arsdale For Latin America and
Caribbean: |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Mohandas Dejoo Shetty |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.41, Kuteera |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.11.1943 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
21.09.1982 |
||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00924611 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Renee Mohandas Shetty |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Directors |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.41, Kuteera |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.02.1976 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.10.1997 |
||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00628472 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Malleshaiah Devarajaiah |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No. 228, 15th C Cross, 2nd Phase, Mahalakshmi
Layout, Bangalore-560086, |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.05.1954 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.1998 |
||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00628413 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Hannah Mohandas Shetty |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
No.41, Kuteera |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
12.04.1948 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
22.09.1982 |
||||||||||||||||||||||||||||||||||||||||
|
Din No.: |
00628512 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mohandas Dejoo Shetty |
|
224972 |
|
Hannah Mohandas Shetty |
|
11460 |
|
BR Shanthala Devi |
|
720 |
|
Renee Mohandas Shetty |
|
7500 |
|
Paragon metalex Private
Limited, |
|
06 |
|
N N Shyamala |
|
600 |
|
Sathyendra Sujatha |
|
600 |
|
Ashok Dejoo Shetty |
|
15 |
|
Nanjunda Rao Gurumurthy Gayathri |
|
600 |
|
Malleshaiah Devarajaiah |
|
30 |
|
Harishchandra Dejoo Shetty |
|
15 |
|
Saraswathi A Shetty |
|
15 |
|
Puchpalatha H Shetty |
|
15 |
|
Sameer Shetty |
|
15 |
|
MV Prasanna |
|
15 |
|
Protective Coatings Private Limited, |
|
15 |
|
G. Sathyendra |
|
15 |
|
Rajendra |
|
15 |
|
MS Subbanna Bhat |
|
15 |
|
VJ Shetty |
|
800 |
|
MPP Technologies Private Limited, |
|
1362 |
|
|
|
|
|
Total |
|
248800 |
AS ON 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
0.56 |
|
Directors
or relatives of directors |
|
98.38 |
|
Other
top fifty shareholders |
|
1.06 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Transformer Radiators Heat Exchangers and other Heat
Exchanger Systems of various designs |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2010]
|
Particulars |
Actual
Production |
|
Finished Products |
37985 # Nos.
Plus 588721 Kgs. of Steel Scrap (Including Samples of 13 Numbers) (# Includes Radiators of 13 numbers sent of
basis to customers at free of cost) |
NOTE: Sales turnover of the company includes the
service charges for the work done on the materials supplied by its customers
and company’s own production. Hence, it is difficult to furnish the cost of
production in respect of finished goods alone.
GENERAL INFORMATION
|
No. of Employees : |
1200 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
State Bank of India, Peenya Industrial Estate Branch, B-96, II Cross, Peenya Industrial Estate, Bangalore-560058, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.R. Alva and Associates Chartered Accountant |
|
Address : |
# 483, 1st Cross, K.H.B. Colony, 5th Block,
Kormangala, Bangalore-560095, Karnataka, India |
|
Pan No.: |
AAMPA9186F |
|
|
|
|
Related Party : |
MPP Technologies Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
350000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
248800 |
Equity Shares |
Rs.100/- each |
Rs.24.880
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 |
24.880 |
24.880 |
14.369 |
|
|
2] Share Application Money |
0.000 |
0.000 |
10.510 |
|
|
3] Reserves & Surplus |
420.157 |
319.167 |
169.496 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
445.037 |
344.047 |
194.375 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
264.939 |
242.288 |
132.301 |
|
|
2] Unsecured Loans |
23.671 |
18.572 |
6.051 |
|
|
TOTAL BORROWING |
288.610 |
260.861 |
138.352 |
|
|
DEFERRED TAX LIABILITIES |
15.288 |
12.440 |
0.803 |
|
|
|
|
|
|
|
|
TOTAL |
748.935 |
617.348 |
333.530 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
317.142 |
321.216 |
119.371 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.515 |
0.515 |
0.515 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
103.942
|
36.882
|
44.814
|
|
|
Sundry Debtors |
307.899
|
277.441
|
298.250
|
|
|
Cash & Bank Balances |
18.344
|
13.750
|
7.905
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
350.391
|
281.755
|
141.412
|
|
Total
Current Assets |
780.576
|
609.828
|
492.381
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
150.513
|
170.329
|
194.254
|
|
|
Other Current Liabilities |
2.012
|
6.197
|
14.745
|
|
|
Provisions |
197.094
|
138.156
|
70.632
|
|
Total
Current Liabilities |
349.619
|
314.682
|
279.631
|
|
|
Net Current Assets |
430.957
|
295.146
|
212.750
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.321 |
0.471 |
0.894 |
|
|
|
|
|
|
|
|
TOTAL |
748.935 |
617.348 |
333.530 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1500.711 |
1627.214 |
1186.500 |
|
|
|
Other Income |
7.033 |
20.242 |
2.700 |
|
|
|
TOTAL (A) |
1507.744 |
1647.456 |
1189.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
754.553 |
874.284 |
|
|
|
|
Operating Expenses |
184.963 |
163.373 |
|
|
|
|
Directors Expenses and Allowances |
54.169 |
77.061 |
1060.300 |
|
|
|
Administration Expenses |
29.389 |
21.947 |
|
|
|
|
Selling and Distribution Expenses |
215.438 |
223.585 |
|
|
|
|
Auditors Remuneration |
0.065 |
0.077 |
|
|
|
|
Small Balance Written Off |
0.152 |
0.002 |
|
|
|
|
Preliminary Expenses Written Off |
0.010 |
0.010 |
|
|
|
|
TOTAL (B) |
1238.739 |
1360.339 |
1060.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
269.005 |
287.117 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
50.934 |
34.557 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
218.071 |
252.560 |
128.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
55.297 |
23.725 |
11.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
162.774 |
228.835 |
117.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
61.784 |
79.164 |
41.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
100.990 |
149.671 |
75.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
318.400 |
168.800 |
92.800 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
419.300 |
318.400 |
168.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
835.404 |
1183.957 |
758.762 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
177.812 |
9.976 |
31.276 |
|
|
|
Stores & Spares |
5.857 |
2.280 |
4.105 |
|
|
|
Packing Materials |
1.260 |
0.000 |
6.871 |
|
|
|
Consumables |
55.247 |
63.901 |
13.960 |
|
|
|
Capital Goods, Machinery and Tools |
16.885 |
27.891 |
0.000 |
|
|
TOTAL IMPORTS |
257.061 |
104.048 |
56.212 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
405.91 |
601.57 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.70
|
9.08
|
6.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.85
|
14.06
|
9.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.83
|
24.57 |
19.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.67 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.43
|
1.71 |
2.15
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.23
|
1.94 |
1.76
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
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 |
|
31) PAN
of Proprietor/Partner/Director, if available |
No |
|
32) Passport
No of Proprietor/Partner/Director, if available |
No |
|
33) Voter
ID No of Proprietor/Partner/Director, if available |
No |
SALES AND
FINANCIAL PERFORMANCE:
The company continued to maintain its position as the largest manufacturer
in India and a leading global manufacturer of Transformer radiators despite a
slight reduction of 7.77% in the sales as compared to that of the immediately
preceding previous year. During the year the company achieved net sales of
Rs.1500.700 Millions.
The company’s strategic focus on exports, widening its customer base by
entering newer markets with its Hol Dip Galvanized Radiators (HDG). This has
helped improve product range, contributing to a sustained growth, despite
market slow down during the initial months of the reporting year.
As already informed in the preceding report additional manufacturing
capacity was added with the setting up of new plant in Tumkur which was
operationalized in February 2009. The effect of slow down on the overall export
was mitigated to a great extent by the new activity of HDG which helped open up
to new customers and widen product segment International Power Transformer
manufactures, who are their long term customers, use a mix of 50% painted and
50% galvanized radiators. During the year, most of these customers visited the
new facility and have conferred global supplier status for their HDG radiators.
With the revival of the industry, the turnover is expected to increase during
the year 2010-11 and exponenually thereafter as the new plant progressively,
increase its capacity utilization.
EXPORT AND
DOMESTIC SALES MIX:
The company experienced lower exports sales by about 15% as compared to the
previous year, excluding gain/losses on account of exchange fluctuation.
However, this did not affect the domestic market which grew by an encouraging
increase of 14% compared to that of the corresponding previous year.
This scenario was mainly on account of recessionary situation
experienced largely in the US, coupled with stuff overseas completion. Further
they experienced reduced input cost, necessitating lowering of selling prices
by the company.
Having commissioned a state of the all Hol Dip Galvanized facility, the
company was able to exploit uncapped domestic sales by an increase of 14%
during the year. This is mainly due to an aggressive focus on exports with galvanized radiators
the company could not capture anticipated export performance due to slow
recovery in the overseas markets. However, the company could record a slight
reduction of 7.77% in the oer all sales as compared to the immediate preceding
year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of charge
|
|
Charge
identification number of the modified |
80017903 |
|
Corporate
identity number of the company |
U31909KA1982PTC004963 |
|
Name of the
company |
TTP TECHNOLOGIES
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
# 486 ‘D’, 4th Phase, 13th Cross, Peenya
Industrial Area, Near Atlanta Pumps, Bangalore-560058, Karnataka, India |
|
Type of charge |
Immovable
Property |
|
Particular of charge
holder |
State Bank of India, Peenya Industrial Estate Branch, B-96, II Cross, Peenya Industrial Estate, Bangalore-560058, Karnataka, India |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
Form B |
|
Date of
instrument Creating the charge |
24.02.2012 |
|
Amount secured by
the charge |
Rs.440.900
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC: Interest @
4.00% above BR i.e.14.00%p.a. TL I, II, III and
IV: Interest @ 5.25% above BR i.e.15.25%p.a. TL V: Interest @
4.50% above BR i.e.14.50% p.a. SLC: Interest @
5.00% above BR i.e.15.00%p.a. Terms of
Repayment CC : Repayable on
Demand TL: As per
original repayment schedule advised earlier. Margin RM : 25% SIP : 25% FG : 25% Receivables : 25% LC and BG : 20% One time BG : 20% Extent and
Operation of the charge Charge extends by
way of first charge on all the assets throughout the period of sanctioned
limits. |
|
Short particulars
of the property charged |
EM on co's immovable
properties of factory land and building situated at No. 487C, Peenya
Industrial Area, IV Phase,
Bangalore - 560 058 land measuring 63950 Sft and building 63100 Sft Towards various
credit facilities sanctioned to MPP Technologies Private Limited. |
|
Date of latest
modification prior to the present modification |
26.11.2011 |
|
Particulars of
the present modification |
Total limits
enhanced to Rs. 440.900 Millions. EM on co's
immovable properties of factory land and building situated at No. 487C,
Peenya Industrial Area, IV Phase, Bangalore - 560 058 land measuring 63950
Sft and building 63100 Sft towards various credit facilities sanctioned to
MPP Technologies Private Limited. All
other terms, conditions and existing securities to continue. |
fixed assets:
· Land
· Buildings
· plant and machinery
· Furniture and fixtures
· Vehicles
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.56.08 |
|
|
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
39 |
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.