MIRA
INFORM REPORT
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Report Date : |
18.08.2012 |
IDENTIFICATION DETAILS
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Name : |
TRINITY TOUCH PRIVATE LIMITED |
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Formerly Known
As : |
URANUS AGENCIES PRIVATE LIMITED |
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Registered
Office : |
D 10 Defence Coloney, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.06.1970 |
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Com. Reg. No.: |
55-005320 |
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Paid-up Capital
: |
Rs.108.963
Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1970PTC005320 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELT04815G |
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PAN No.: [Permanent Account No.] |
AABCT4747M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of
High Quality Cable Glands, Wiring Duct, Din Rail, Tribox Enclosures and
Electronic. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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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 2100000 |
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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 an established company having satisfactory track. The
company has incurred losses for the last two years. However, networth of the company
appears to be good. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
LOCATIONS
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Registered/ Corporate Office : |
D 10 Defence Coloney, |
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Tel. No.: |
91-11-30895900/ 30895933 |
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Fax No.: |
91-11-30895998 |
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E-Mail : |
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Website : |
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Factory : |
Prithla-Dudhola Road, Dudhola District Palwal – 121102, Haryana, India |
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Tel. No.: |
91-11-30895940 |
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E-Mail : |
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International Sales Contact : |
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Regional Offices : |
Located At: · Pune ·
· Ahmedabad ·
· Mumbai · Chennai · Kolkata |
DIRECTORS
AS ON 30.09.2011
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Name : |
Mr. Dinesh Parwanda |
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Designation : |
Director |
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Address : |
S-523 Greater Kailash Part II, New Delhi – 110048, India |
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Date of Birth/Age : |
12.11.1959 |
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Date of Appointment : |
10.06.1980 |
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Din No.: |
00442765 |
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Other Directorship:
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Name : |
Mr. Salig Ram Parwanda |
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Designation : |
Director |
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Address : |
S-523 Greater Kailash Part II, New Delhi – 110048, India |
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Date of Birth/Age : |
16.08.1934 |
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Date of Appointment : |
09.01.2006 |
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Din No.: |
02435961 |
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Name : |
Ms. Reena Parwanda |
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Designation : |
Director |
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Address : |
S-523 Greater Kailash Part II, New Delhi – 110048, India |
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Date of Birth/Age : |
12.03.1965 |
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Date of Appointment : |
07.02.2009 |
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Din No.: |
02543247 |
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KEY EXECUTIVES
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Name : |
Mr. Sachin Verma |
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Designation : |
Secretary |
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Address : |
8/388, Anandi Pura, Modinagar, Ghaziabad – 201204, Uttar Pradesh,
India |
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Date of Birth/Age : |
07.12.1979 |
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Date of Appointment : |
01.03.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Dinesh Parwanda |
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551237 |
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Trinity Touch Europe Limited [Formerly UK Transworld Commerce
Limited], UK |
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313813 |
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Parwanda Investment Private Limited, India |
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75000 |
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Reena Parwanda |
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89583 |
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Ishaan Parwanda |
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30000 |
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Shunal Parwanda |
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30000 |
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Total |
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1089633 |
AS ON 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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28.80 |
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Bodies
corporate |
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6.88 |
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Directors
or relatives of directors |
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64.32 |
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Total |
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100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
High Quality Cable Glands, Wiring Duct, Din Rail, Tribox Enclosures and
Electronic. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Indian Overseas Bank HS-31, Kailash Colony, New Delhi – 110048, India ·
Bharat Overseas Bank Limited HS – 31, Kailash Colony Market, New Delhi – 110048, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bansal and Company Chartered Accountant |
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Address : |
A-6, Maharani Bagh, |
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Tel. No.: |
91-11-41626470-71 |
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Fax No.: |
91-11-41328425 |
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E-Mail : |
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Pan No.: |
AAAFB6603L |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1250000 |
Equity Shares |
Rs.100/- each |
Rs.125.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1089633 |
Equity Shares |
Rs.100/- each |
Rs.108.963
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
108.963 |
108.963 |
108.963 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
427.682 |
482.323 |
526.811 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
536.645 |
591.286 |
635.774 |
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LOAN FUNDS |
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1] Secured Loans |
44.933 |
46.460 |
61.638 |
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2] Unsecured Loans |
223.942 |
159.827 |
224.292 |
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TOTAL BORROWING |
268.875 |
206.287 |
285.930 |
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DEFERRED TAX LIABILITIES |
1.889 |
2.647 |
2.734 |
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TOTAL |
807.409 |
800.220 |
924.438 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
440.239 |
436.801 |
405.477 |
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Capital work-in-progress |
6.277 |
1.738 |
0.000 |
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INVESTMENT |
69.423 |
69.423 |
69.423 |
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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 |
177.001
|
187.592
|
181.364 |
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Sundry Debtors |
66.615
|
93.753
|
53.741 |
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Cash & Bank Balances |
9.853
|
11.473
|
222.214 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
94.988
|
261.830
|
255.393 |
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Total
Current Assets |
348.457
|
554.648
|
712.712 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
40.844
|
89.767
|
96.365 |
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Other Current Liabilities |
12.550
|
16.728
|
11.486 |
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Provisions |
3.593
|
155.895
|
155.323 |
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Total
Current Liabilities |
56.987
|
262.390
|
263.174 |
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Net Current Assets |
291.470
|
292.248
|
449.538 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
807.409 |
800.220 |
924.438 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
332.270 |
300.303 |
242.690 |
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Other Income |
42.865 |
47.114 |
719.725 |
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TOTAL |
375.135 |
347.417 |
962.415 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
385.071 |
348.665 |
283.622 |
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Advertising Expenses |
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Financial Expenses |
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TOTAL |
385.071 |
348.665 |
283.622 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(9.936) |
(1.248) |
678.793 |
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Less/ Add |
DEPRECIATION/ AMORTISATION |
45.462 |
43.278 |
19.711 |
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PROFIT / (LOSS)
BEFORE TAX |
(55.398) |
(44.526) |
659.082 |
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Less |
TAX |
(0.757) |
(0.038) |
152.253 |
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PROFIT / (LOSS)
AFTER TAX |
(54.641) |
(44.488) |
506.829 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
472.748 |
517.236 |
10.407 |
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BALANCE CARRIED
TO THE B/S |
418.107 |
472.748 |
517.236 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
6.047 |
3.567 |
3.013 |
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Earnings /
(Loss) Per Share (Rs.) |
(50.15) |
(40.83) |
465.14 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(15.10)
|
(12.81) |
52.66 |
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Net Profit Margin (PBT/Sales) |
(%) |
(16.67)
|
(14.83) |
271.57 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(7.02)
|
(4.49) |
58.94 |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.10)
|
(0.07) |
1.04 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.61
|
0.79 |
0.86 |
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Current Ratio (Current Asset/Current Liability) |
|
6.11
|
2.11 |
2.71 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by
Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
No |
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9) Name of person contacted |
No |
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10) Designation of contact person |
No |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
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31) Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
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32) PAN of Proprietor/Partner/Director, if
available |
No |
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33) Voter ID No of
Proprietor/Partner/Director, if available |
No |
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34) External Agency Rating, if available |
No |
OPERATIONS:
During the year,
there was an increase in Turnover by 10.65% over previous year. The Directors
foresee a better future and hope to achieve better results in the coming years.
BANKERS CHARGES REPORT
AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90044418 |
|
Corporate
identity number of the company |
U74899DL1970PTC005320 |
|
Name of the
company |
TRINITY TOUCH
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D 10 Defence Coloney, |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Floating Charge Immovable Property
Others |
|
Particular of
charge holder |
Indian Overseas Bank – HS-31, Kailash Colony, New Delhi – 110048,
India |
|
Nature of description
of the instrument creating or modifying the charge |
F 110E Letter of
Hypothecation (for securing machineries/goods/book debs), F 107A
Hypothecation of Book debts, F 379A
Confirmation Letter. |
|
Date of
instrument Creating the charge |
13.07.2011 |
|
Amount secured by
the charge |
Rs.130.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash credit limit
- Interest shall be charged Base Rate plus 3.50% i.e. 13.50% at presently
with monthly rests. Interest on other credit facilities as per sanction
terms. Terms of
Repayment Payable on demand
as per sanction terms and bank norms. Margin CC - 25% on stocks and 50% on
Book debts IDUBD - 10% LC - Per - 10%, Fina - 25%, LC 10% Forward sales
contract - 10% Extent and
Operation of the charge The hypothecated
assets And Equitable mortgage of property to secure following credit limits
sanctioned by Indian Overseas Bank to Trinity Touch Private Limited a) Cash Credit
Rs.75.000 Millions (sublimit IDUBD
Rs.15.000 Millions) b) LC(F) on DP
terms /LG(Per/fin) Rs.15.000 Millions c) Forward sales
contract Rs.40.000 Millions |
|
Short particulars
of the property charged |
First charge on
stocks, book debts, plant and machinery and other current assets and fixed
assets of the company both present and
future. First charge by
way of equitable mortgage of free hold land and building measuring 13 Kanal 7
Marlas, being 267/880 share of land admeasuring 44 kanal forming part of
Khewat No.164, Khatoni No.179 Kila No. 16,
(8-0), Khewat No.196, Khatoni No.211 Mustil No.14 Kila No.17 (8-0), 18/1
(4-0), 22 (8-0), 23(8-0), 24(8-0) situated in village Dudhaila, Tehsil Palwal
District Faridabad, Haryana. Owned by Trinity
Touch Private Limited (16.34375 acres) |
|
Particulars of
the present modification |
By this
modification of charge the aggregate credit limits stands enhanced to
Rs.130.000 Millions to secure following credit limit a) Cash Credit Rs.75.000
Millions, (sublimit IDUBD Rs.15.000 Millions), b) LC(F) on DP terms
/LG(Per/fin) Rs.15.000 Millions, c) Forward sales contract Rs.40.000
Millions. The charge on the assets and equitable mortgage of property of the
company. |
FIXED ASSETS:
·
Land and building
·
Furniture and fixtures
·
Plant and machinery
·
Office equipment
·
Vehicles
·
Computer
·
Software
WEBSITE DETAILS
PROFILE:
MORE THAN A DISTRIBUTION COMPANY
Subject has emerged
as one of the companies engaged in manufacturing, assembly and distribution
activities providing value added services to its customers. Trinity Touch has
its presence in the
Company business
involves seeking out manufacturers and designers of products from all over the
world for solutions best suited for the market. Company carries forward this
task to bring the right solution for the customer at the right price and right
time. Trinity Touch has managed to form a portfolio of principle companies,
which are one of the market leaders in their respective fields.
Company operates a
decentralized business philosophy through which the local managers make all the
day-to-day decisions. The highly trained team offers unbiased advice to find
the best solution for the customers’ needs. This management style helps to
build relationships with customers and suppliers locally for everyone’s
benefit.
INTERNATIONAL PRESENCE
Company is based in the United Kingdom. They carry out their UK sales
from there warehouse / logistics centre located in the town of Corby. With many
partnerships across Europe they service those from the
Company owns its manufacturing of its high quality products in
India. The facilities in
COMPANY HISTORY:
1992
Trinity Touch, together, in a Joint Venture with Phoenix Contact Germany
was the first company to produce this programme in India with European
Technology
1993
First PCB/Connecters produced in India with German Technology.
2001
The Trinity Touch logistics centre becomes operational.
2002
Again, the first company in India to produce Surge Protection Devices
with German Technology.
2003
Trinity Touch introduces Cable Glands of German technology.
Trinity Touch Corporate office established in Defence Colony, New Delhi.
2004
Flexible Conduits and Accessories launched in India.
2005
Trinity Touch introduces its own customised solutions for customers
2006
Trinity Touch Group compiles its first catalogue with various products
for Electrical Components.
2007
Trinity Touch launches Industrial Plugs and Sockets.
Trinity Touch becomes ISO
9001:2000 certified company.
2008
New production site becomes operational.
Trinity Touch starts the production of DIN Rails at the new world class,
high quality plant.
Switches Introduced in
Trinity Touch launches its Instruments and Devices Programme and its
first Instruments, Interface and Devices Catalog.
2009
Trinity Touch launches its warehouses in:
Pune
Ahmedabad
Trinity Touch starts the production of Wiring Ducts, Cable Glands and DIN Rail Mounted PCB Support.
Thermal Management launched in
Trinity Touch (EUROPE) Limited launches its programme called “Cabinet Plus” Control Cabinet Accessories
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.55.70 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.