|
Report Date : |
10.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
TWENTY FIRST CENTURY TECHNO PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
5th Floor, Stellar, 2-A, Chandra Nagar, A. B. Road, Indore – 452010,
Madhya Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.08.1995 |
|
|
|
|
Com. Reg. No.: |
10-009802 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36101MP1995PTC009802 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Trader of Office Furniture etc. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitments. The company can be considered for normal business dealing 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.
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Vandana Gupta |
|
Designation : |
Business Solution Specialist |
|
Contact No.: |
91-731-3065555 |
|
Date : |
06.08.2012 |
LOCATIONS
|
Registered Office : |
5th Floor, Stellar, 2-A, Chandra Nagar, A. B. Road, Indore – 452010,
Madhya Pradesh, India |
|
Tel. No.: |
91-731-3065555 |
|
Fax No.: |
91-731-3065500 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at: · New Delhi · Noida · Raipur · Mumbai · Bilaspur · Bangalore · Hyderabad · Patna ·
Pune |
DIRECTORS
As on: 31.08.2011
|
Name : |
Mr. Pawan Pamecha |
|
Designation : |
Director |
|
Address : |
6th Floor, Jhabua Tower, 170, R.N.T. Marg, Indore – 452001,
Madhya Pradesh, India |
|
Date of Birth/Age : |
04.04.1966 |
|
Date of Appointment : |
02.08.1995 |
|
DIN No.: |
00675108 |
|
|
|
|
Name : |
Mr. Shantilal Pamecha |
|
Designation : |
Director |
|
Address : |
A-2, Chandra Nagar, A. B. Road, Indore – 452010, Madhya Pradesh, India |
|
Date of Birth/Age : |
12.09.1927 |
|
Date of Appointment : |
16.03.1996 |
|
DIN No.: |
02443188 |
KEY EXECUTIVES
|
Name : |
Ms. Vandana Gupta |
|
Designation : |
Business Solution Specialist |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pawan Pamecha |
|
11010 |
|
Shanti Lal Pamecha |
|
4010 |
|
Viniyendra Pamecha |
|
3000 |
|
Sunita Pamecha |
|
1975 |
|
Keshrai Bai Pamecha |
|
5 |
|
|
|
|
|
Total |
|
20000 |
Equity Share Break up (Percentage of Total Equity)
As on: 31.08.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Trader of Office Furniture etc. |
|
|
|
|
Exports : |
|
|
Products : |
Office Furniture |
|
Countries : |
China |
|
|
|
|
Imports : |
|
|
Products : |
Furniture |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit, T.T and Cheque |
|
|
|
|
Purchasing : |
L/C, Cash, Credit, T.T and Cheque |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank, Kamal Palace, 1, Yahshwant Colony, YN
Road, Indore - 452001, Madhya Pradesh, India ·
Central Bank of India, Surya Ganj Branch, Indore,
Madhya Pradesh, India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rakesh Nahar and Company Chartered Accountants |
|
Address : |
101,Sapna Chambers, Behind Hotel Shrimaya, Indore – 452010, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-2527616/ 4047616 |
|
E-Mail : |
|
|
PAN No.: |
ABNPN8004B |
|
|
|
|
Sister Concern Company : |
Stellar Limited, Hong Kong |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
30.238 |
20.371 |
14.277 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.238 |
22.371 |
16.277 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.671 |
18.404 |
1.133 |
|
|
2] Unsecured Loans |
31.817 |
20.101 |
9.310 |
|
|
TOTAL BORROWING |
51.488 |
38.505 |
10.443 |
|
|
DEFERRED TAX LIABILITIES |
0.046 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
83.772 |
60.876 |
26.720 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
10.515 |
10.326 |
8.217 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.038 |
0.181 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
72.848
|
34.738 |
12.824 |
|
|
Sundry Debtors |
25.555
|
29.205 |
20.284 |
|
|
Cash & Bank Balances |
6.164
|
2.033 |
4.560 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
20.238
|
13.372 |
8.547 |
|
Total
Current Assets |
124.805
|
79.348 |
46.215 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
37.085
|
18.613 |
22.603 |
|
|
Other Current Liabilities |
14.463
|
10.223 |
5.290 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
51.548
|
28.836 |
27.893 |
|
|
Net Current Assets |
73.257
|
50.512 |
18.322 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
83.772 |
60.876 |
26.720 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
341.286 |
220.038 |
179.618 |
|
|
|
Other Income |
2.147 |
2.383 |
0.307 |
|
|
|
TOTAL (A) |
343.433 |
222.421 |
179.925 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
247.981 |
172.206 |
102.099 |
|
|
|
Raw Material Consumed |
0.000 |
0.000 |
8.870 |
|
|
|
Manufacturing Expenses |
0.000 |
0.000 |
1.232 |
|
|
|
Administrative Expenses |
75.744 |
40.814 |
37.464 |
|
|
|
Selling Expenses |
30.228 |
15.963 |
15.204 |
|
|
|
Increase/ Decrease in Stock |
(38.111) |
(21.914) |
3.475 |
|
|
|
TOTAL (B) |
315.842 |
207.069 |
168.344 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.591 |
15.352 |
11.581 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.519 |
4.443 |
4.838 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.072 |
10.909 |
6.743 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.140 |
1.969 |
1.733 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.932 |
8.940 |
5.010 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.980 |
2.703 |
1.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(H-I) (J) |
9.952 |
6.237 |
3.080 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.777 |
12.683 |
9.528 |
|
|
|
|
|
|
|
|
|
Add |
PROVISION FOR
DTA (FOR CURRENT YEAR) |
(0.085) |
(0.143) |
0.075 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
28.644 |
18.777 |
12.683 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
498.00 |
312.00 |
154.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.90 |
2.80 |
1.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.38 |
4.06 |
2.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.03 |
9.97 |
9.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.40 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.20 |
3.01 |
2.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.42 |
2.75 |
1.66 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U36101MP1995PTC009802 |
|
Name of the
company |
TWENTY FIRST
CENTURY TECHNOPRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
5th Floor, Stellar, 2-A,Chandra Nagar, A. B. Road, Indore – 452010,
Madhya Pradesh, India E-mail: stellar@stellarfurniture.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10102969 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Axis Bank, Kamal Palace, 1, Yahshwant Colony, YN Road,, Indore - 452001,
Madhya Pradesh, India E-mail: ratanlal.gurjar@axisbank.com |
|
Nature of
instrument creating charge |
Supplemental deed
of hypothecation dated 12.03.2010. |
|
Date of
instrument Creating the charge |
12.03.2010 |
|
Amount secured by
the charge |
Rs.35.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR-3% i.e.
11.75% p.a. at present (reduced from BPLR-2.75% i.e. 12.00% p.a.) Present BPLR is
14.75% p.a. to be debited monthly. Terms of
Repayment This being
modification-Not applicable. Margin The DP will be
calculated by applying the margins mentioned below: Raw Material: 30% Finished Goods:
30% Book Debts : 40% Extent and Operation
of the charge This being
modification - Not Applicable. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
As mentioned in
(original) composite deed of hypothecation dated 20.03.2008 |
|
Date of
instrument modifying the charge |
10.03.2009 |
|
Particulars of
the present modification |
Enhancement in
its credit limits from Rs. 25.000 Millions to 35.000 Millions CC Limits Rs.
10.000 Millions LC Limits Rs.
5.000 Millions Total Rs. 15.000
Millions |
FIXED ASSETS:
·
Car
·
Air Conditioner
·
Electric Installation
·
Furniture and Fixture
·
Cellular Phone
·
Fax
·
Fan
·
ERP Development
·
Telephone and EPABX
·
Cycle
·
Inverter
·
Office Equipment
·
Fire Extinguisher
·
Water Purifier/ Cooler
·
Generator
·
Copywriter
·
Lift and Elevators
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.55.17 |
|
|
1 |
Rs.86.43 |
|
Euro |
1 |
Rs.68.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.