MIRA
INFORM REPORT
|
Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
TECKBOND LABORATORIES PRIVATE LIMITED |
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Registered
Office : |
Flat No : 110, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
22.01.2004 |
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Com. Reg. No.: |
01-042470 |
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Capital
Investment / Paid-up Capital : |
Rs. 31.470 millions |
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|
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CIN No.: [Company Identification
No.] |
U24239AP2004PTC042470 |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of drugs and intermediates and job works |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 300000 |
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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 a established company having moderate trade record. The
external borrowing of the company is more than its net worth and liquidity
position is average. However, trade relations are reported to be fair.
Business is active. Payments are slow but the correct. The company can be considered for business dealing 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
D (Term Loan) |
|
Rating Explanation |
This rating are in default or are expected
to be in default soon. |
|
Date |
April 2012 |
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
|
Registered Office : |
Flat No : 110, Vijaya Towers, Nagarjuna Nagar’, Ameerpet, Hyderabad-
500073, Andhra Pradesh. |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate office
: |
23/C, Ligh Vengalrao Nagar, Hyderabad - 500038,India |
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Factory 1 : |
Plot No: 168, 170/A, 170A/A, 173/1, 173/1AA, |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Tummala Bose Babu . |
|
Designation : |
Managing Director |
|
Address : |
Flat No.110. Vijaya Towers, Nagarjuna Nagar, Ameerpet, Hyderabad –
500073, Andhra Pradesh |
|
Date of Birth/Age : |
22.01.1954 |
|
Date of Appointment : |
22.01.2004 |
|
DIN No.: |
01175976 |
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|
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|
Name : |
Koyyalamudi Hari Prasad |
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Designation : |
Director |
|
Address : |
Faltno-102, Sri Nidhi Tower, Mig-13, Roadno-4,Kphb Colony, Kukatpally
Hyderabad – 500072, Andhra Pradesh |
|
Date of Birth/Age : |
15.6.21961 |
|
Date of Appointment : |
22.01.2004 |
|
DIN No.: |
02623425 |
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Name : |
Madhusudhan Rao Edupuganti |
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Designation : |
Director |
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Address : |
2-5-20,Gandhi Nagar, Nandulapeta, Tenali, Guntur-522201 |
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Date of Birth/Age : |
23.03.1967 |
|
Date of Appointment : |
22.01.2004 |
|
DIN No.: |
02477299 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Tummala Bose Badu |
|
10,38,839 |
|
Madhusudhan Rao |
|
3,67,124 |
|
Koyyalamudi Hari Prasad |
|
1,63,815 |
|
Ch.Paramesh Chandu Chowdary |
|
100050 |
|
G Jalgan Mohan Rao |
|
2,13,885 |
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B. Janaki |
|
82,500 |
|
T. Brahmanandam |
|
50,000 |
|
T. Divya |
|
29,679 |
|
K. Manohar |
|
50,000 |
|
U. Subbarao |
|
3,00,000 |
|
Vanaja Sureddi |
|
6,81,180 |
|
U.Tulasamma |
|
20,000 |
|
Total |
|
3147072 |
AS ON 08.08.2012
|
Names of Allottees |
|
No. of Shares |
|
C.Sanjeev Baba, Plot No.6, Road No.3, Arora Colony,
Banjara Hills, Hyderabad- 500034, Andhra Pradesh, India |
|
552864 |
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AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or Other relatives of director |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of drugs and intermediates and job works |
PRODUCTION STATUS
AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Bulk Drug Intermediates |
Kgs |
N.A |
N.A |
94381.00 |
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GENERAL INFORMATION
|
No. of Employees : |
Not available |
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Bankers : |
v
State Bank of India, Vengala Rao Nagar Branch,
Vengal Rao Nagar, Hyderabad-500038, Andra Pradesh, India v
Centurion Bank Of Punjab Limited, Pawani Plaza
Commercial Complex 6-3-698/A, Punjagutta, Hyderabad-500082. |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rao and Siva Associates Charted Accountant |
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Address : |
Plot No : 121/7,19th Road, Vivekananda Nagar Colony,
Kukatpalli, Hyderabad-500072, Andhra Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AFGPM9736E |
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Email ID : |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity shares |
Rs.10/-each |
Rs.45.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31,47,072 |
Equity shares |
Rs.10/- each |
Rs.31.470
Million |
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|
|
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|
a) Reconcilation Of Equity shares Outstanding at the begning and at the
end of the year
AS ON 31.03.2012
|
|
NO |
RS in Millions |
|
At the begning of the year |
2327212 |
31.470 |
|
Add: equity share allotted during the year |
819860 |
Nill |
|
|
3147072 |
31.470 |
b) Terms Rights Attached to Equity shares :
The company has only one class of equity share having a par value of
Rs.10/- pere share. Each holder of equity share is entitled to one vote per
share
AS ON 31.03.2012
|
c) Details of share holding more than 5% shares in the company |
NO |
% |
|
T. Bose Babu |
1038839 |
44.61 |
|
B. Madhusudhan Rao |
367124 |
15.78 |
|
K. Hari Prasad |
163815 |
2.04 |
|
G. Jalgan Mohan Rao |
213885 |
9.19 |
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||
AS ON 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity shares |
Rs.10/-each |
Rs.45.000 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36,999,36 |
Equity shares |
Rs.10/- each |
Rs.36.999
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
31.470 |
23.272 |
23.272 |
|
|
2] Share Application Money |
0.000 |
0.000 |
3.500 |
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|
3] Reserves & Surplus |
45.747 |
33.149 |
22.553 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
77.217 |
56.421 |
49.325 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
68.718 |
62.886 |
48.309 |
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2] Unsecured Loans |
15.820 |
14.125 |
02.742 |
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TOTAL BORROWING |
84.538 |
77.011 |
51.051 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
Creditores For Capital Goods |
0.000 |
11.611 |
4.906 |
|
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|
|
|
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TOTAL |
161.755 |
145.043 |
105.282 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
89.298 |
86.913 |
68.661 |
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Capital work-in-progress |
6.190 |
3.150 |
0.000 |
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INVESTMENT |
11.219 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
3.903 |
3.718 |
2.841 |
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CURRENT ASSETS, LOANS & ADVANCES |
0.000 |
0.000 |
0.000 |
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Inventories |
90.536
|
28.324
|
18.708 |
|
|
Sundry Debtors |
57.377
|
54.955
|
22.034 |
|
|
Cash & Bank Balances |
1.304
|
2.876
|
0.542 |
|
|
Other Current Assets |
3.271
|
42.219
|
16.059 |
|
|
Loans & Advances |
32.593
|
38.804
|
15.738 |
|
Total
Current Assets |
185.081
|
167.178 |
73.081 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
120.745
|
109.285
|
|
|
|
Other Current Liabilities |
10.841
|
3.087
|
|
|
|
Provisions |
2.350
|
3.550
|
1.951 |
|
Total
Current Liabilities |
133.936
|
115.922
|
39.309 |
|
|
Net Current Assets |
51.145
|
51.256
|
33.772 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.000
|
0.006 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
161.755 |
145.043 |
105.282 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
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|
SALES |
|
|
|
|
|
|
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Income |
352.017 |
276.296 |
144.472 |
|
|
|
Other Income |
0.671 |
0.541 |
0.230 |
|
|
|
TOTAL (A) |
352.688 |
276.837 |
144.702 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost Of Material Consumed |
263.506 |
221.912 |
|
|
|
|
Job work Charges |
0.111 |
0.518 |
|
|
|
|
Employee benefit expenses |
24.300 |
18.736 |
124.826 |
|
|
|
Other Expenses |
39.894 |
30.100 |
|
|
|
|
Changes In Inventories Of Finished goods |
(19.167) |
(26.161) |
|
|
|
|
TOTAL (B) |
308.644 |
245.105 |
124.826 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.044 |
31.732 |
19.876 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.408 |
9.991 |
6.822 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.636 |
21.741 |
13.054 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.704 |
9.834 |
6.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.932 |
11.907 |
6.060 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.165 |
2.751 |
Nil |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
12.767 |
9.156 |
Nil |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.06 |
-- |
--- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.62
|
3.31 |
Nil |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.24
|
4.31 |
4.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.05
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.21 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.83
|
3.42 |
1.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.44 |
1.86 |
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 |
No |
|
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 |
No |
|
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)
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 |
Yes |
FORM 8
|
Corporate
identity number of the company |
U24239AP2004PTC042470 |
|
Name of the
company |
TECKBOND
LBORATORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat
No.110,Vijaya Towers, Nagarjuna, Nagar, Ameerpet, Hyderbad-500073, Andhra
Pradesh, India |
|
This form is for |
Modification of
charge |
|
Chrges
identification number of the charge to be modified |
10161475 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of
India, Vengala Rao Nagar Branch, Vengala Rao Nagar, Hyderabad -500038, Andhra
Pradesh, India |
|
Nature of
instrument creating charge |
SME-1, SME-4,
SME-7 |
|
Date of
instrument Creating the charge |
03.10.2011 |
|
Amount secured by
the charge |
Rs.110.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Working capital
of Rs. 50.000 millions interested at the rate of 6.50% margin above the base
rate which is presently 10.00% p.a. Presently other limits – existing rates
will prevail Terms of repayment Working capital :
Repayable on demand. For other limits
– Existing schedules will prevail Margin Fund based Raw material imported 25% Semi finished goods 25% Finished goods 25% Receivables 40% Non Fund Base Letter of credit 25% Bank guarantee 25% Extent and operation of the charge The charges
operation as fixed and current assets of the company for the due repayment of
loan together with interest, penal charges, if any. |
|
Short particulars
of the property charged (Including location of the property) |
Consumable and
stock relating to manufacturing bulk drugs, book debts, receivable and pledge
of existing and proposed plant and machinery. EM of land and
building of factory admeasuring 7.1875 ac at plot no.
168,170/A,171A/A,173,/1,173/1AA situated at Anantharam Village, Ranga Reddy
District EM of 4-00 acres
of wet agricultural land in Sy No : 474/12, 556 situated at Nidubrolu
Village, Ponnur Mandal standing in the name of Smt. K. Ramdevi EM of residential
building GF and IF with 785.48SFT each in the land of 136 Sq. Yds in SY
No.485, Gantvari Street, Tenali standing in the name of Smt . E..Kusuma EM of residential
plot 473 Sq. Yds in Sy No.105/1 of Kunchrapalli Village, Tadepalli Mandal,
Gunyur District, standing in the
name of Sri. E .Mdhusudhan Rao. |
|
Particulars of
the present modification |
Overall limits
enhanced from Rs. 90.000 millions to Rs.110.000 millions. The revised limits
stands as follows: (Rs. In millions) 1.
Cash
credit 50.000 2.
Term
loan - 1
15.000 3.
Term
loan - 2
20.000 4.
Letter
of credit
20.000 5.
Bank
guarantee
05.000 Total
110.000 |
Fixed Assets :
·
Land
·
Factory Building
·
Plant and Machinery
·
Lab Equipments
·
Furniture and Fixture
·
Vehicles
·
Office Equipments
·
Electrical Equipments
·
Computer Hardware
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 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 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.52.70 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
|
|
|
Report Prepared
by : |
HET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
YES |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.