|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
S C T LIMITED (w.e.f 03.05.1995) |
|
|
|
|
Formally Known
as : |
SYSTEM CONTROLS AND
TRANSFORMERS LIMITED(w.e.f 15.02.1995) SYSTEMS CONTROLS AND TRANSFORMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
106, Rakesh Deep Apartment, Gulmohar Enclave Commercial Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.06.1979 |
|
|
|
|
Com. Reg. No.: |
55-088912 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.760 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200DL1979PLC088912 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MRTS01183A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Marketer of Instrument Transformers up to 220 KV |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 950000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There appears
slight dip in the sales turnovers and profitability in the years 2010 – 2011. However, general financial position of the company appears to be good.
Performance capacity is high. Trade relations are reported to be fair.
Business is active. Payments are reported to be usually correct and as per
commitment. The company can be considered for normal business dealing at usual
trade terms and condition. |
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source : CIA |
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 : |
106, Rakesh Deep Apartment, Gulmohar Enclave Commercial Complex, |
|
Tel. No.: |
Not Available |
|
Mobile No : |
91-9312069567 (Mr. Wali Khan) / 91-9313324655 (Mr. Baldev Singh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
C – 15, Industrial Area, Site – 3, |
|
Tel. No.: |
91-120-4156608 |
|
Fax No.: |
91-120-2712731 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Mohd Yusuf Ali Khan |
|
Designation : |
Managing Director |
|
Address : |
R - 3/2, Raj Nagar Ghaziabad– 201003, |
|
Date of Birth/Age : |
20.07.1947 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
01282539 |
Other
Directorship:
|
c |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31500UP1979PLC004777 |
SCT
LIMITED. |
Managing
director |
26/06/1979 |
26/06/1979 |
- |
Dormant |
NO |
|
2 |
U31200DL1979PLC088912 |
S C
T LIMITED |
Managing
director |
29/09/2010 |
05/08/1997 |
- |
Active |
NO |
|
3 |
U91110UP1945NPL001322 |
THE
WESTERN U.P. CHAMBER OF COMMERCE AND INDUSTRY |
Director |
29/09/2009 |
29/09/2009 |
- |
Active |
NO
|
|
|
|
|
|
|
|
|
|
|
|
Name : |
Mr. Baldev Singh |
|
Designation : |
Whole – time Director |
|
Address : |
R - 5/57, Raj Nagar, |
|
Date of Birth/Age : |
02.08.1952 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
01364347 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31500UP1979PLC004777 |
SCT LIMITED. |
Director |
26/06/1979 |
26/06/1979 |
- |
Dormant |
NO |
|
2 |
U31200DL1979PLC088912 |
S C T LIMITED |
Whole-time
director |
29/09/2010 |
05/08/1997 |
- |
Active |
NO |
|
3 |
U45201DL2008PTC184418 |
S C T PROJECTS
PRIVATE LIMITED |
Director |
22/10/2008 |
22/10/2008 |
- |
Active |
NO |
|
Name : |
Mr. Mohhamad Vaseem Khan |
|
Designation : |
Director |
|
Address : |
B/37, Gulsistan Housing Complex, |
|
Date of Birth/Age : |
01.07.1953 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
03071999 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U31200DL1979PLC088912 |
S C T LIMITED |
Director |
29/09/2010 |
23/04/2010 |
- |
Active |
NO |
|
Name : |
Mr. Wali Khan |
|
Designation : |
Whole - time Director |
|
Address : |
R – 3/2, Raj Nagar, |
|
Date of Birth/Age : |
22.01.1985 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
02361008 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U45201DL2008PTC184418 |
S C T PROJECTS
PRIVATE LIMITED |
Director |
22/10/2008 |
22/10/2008 |
- |
Active |
NO |
|
2 |
U31200DL1979PLC088912 |
S C T LIMITED |
Whole-time
director |
29/09/2010 |
29/09/2010 |
- |
Active |
NO |
MAJOR SHAREHOLDERS
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
M. Y. A. Khan |
2116900 |
|
Baldev Singh |
826820 |
|
Tadris Yusuf |
173880 |
|
Zafar Ghayas |
2000 |
|
Hasan Ghayas |
2000 |
|
Z. B. Khan |
11200 |
|
Musheer Ahmed Siddiqui |
43200 |
|
TOTAL
|
3176000 |
AS ON29.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketer of Instrument Transformers up to 220 KV |
|
|
|
|
Product : |
Instrument Transformers |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Instrument Transformers up to 220 Kv. |
Nos. |
2339 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manjit .S. Arrora Chartered Accountant |
|
Address : |
J – 40, Patel Nagar, |
|
PAN No.: |
AAZPA1911H |
CAPITAL STRUCTURE
AS ON 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4950000 |
Equity Shares |
Rs.10/- each |
Rs.49.500 Millions |
|
5000 |
Preference Shares |
Rs.100/- each |
Rs.0.500 Millions |
|
|
TOTAL |
|
Rs.
50.000Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3176000 |
Equity Shares |
Rs.10/- each |
Rs.31.760Millions |
|
|
|
|
|
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 |
31.760 |
31.760 |
31.270 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
206.361 |
165.146 |
137.275 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
238.121 |
196.906 |
168.545 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
8.379 |
0.959 |
2.800 |
|
|
2] Unsecured Loans |
0.535 |
0.537 |
10.335 |
|
|
TOTAL BORROWING |
8.914 |
1.496 |
13.135 |
|
|
DEFERRED TAX LIABILITIES |
0.093 |
0.093 |
0.093 |
|
|
|
|
|
|
|
|
TOTAL |
247.128 |
198.493 |
181.773 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
149.561 |
145.335 |
142.114 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.274
|
10.350 |
4.391 |
|
|
Sundry Debtors |
39.092
|
31.056 |
50.850 |
|
|
Cash & Bank Balances |
0.849
|
1.859 |
1.011 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
103.756
|
88.157 |
38.778 |
|
Total
Current Assets |
146.971
|
131.422 |
95.030 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.917
|
31.825 |
27.052 |
|
|
Other Current Liabilities |
23.487
|
36.437 |
23.321 |
|
|
Provisions |
6.000
|
10.000 |
5.000 |
|
Total
Current Liabilities |
49.404
|
78.262 |
55.373 |
|
|
Net Current Assets |
97.567
|
53.160 |
39.659 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
247.128 |
198.495 |
181.773 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
284.033 |
323.427 |
292.600 |
|
|
|
Other Income |
5.923 |
4.029 |
3.185 |
|
|
|
TOTAL |
289.956 |
327.456 |
295.785 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
170.763 |
192.619 |
198.600 |
|
|
|
Technical services |
44.394 |
58.696 |
40.998 |
|
|
|
Administrative Expenses |
13.225 |
20.450 |
14.938 |
|
|
|
Selling and Distribution Expenses |
16.968 |
12.552 |
11.706 |
|
|
|
Excise Dut6i Paid |
13.330 |
10.828 |
10.975 |
|
|
|
Increase / (Decrease) in Stock |
2.985 |
(2.985) |
0.090 |
|
|
|
TOTAL |
261.665 |
292.160 |
277.307 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
28.291 |
35.296 |
18.478 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.582 |
0.894 |
1.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.709 |
34.402 |
16.711 |
|
|
|
|
|
|
|
|
|
Less |
Deffered
Tax Assets |
0.000 |
0.000 |
0.092 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.468 |
4.373 |
3.869 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
22.241 |
30.029 |
12.759 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.000 |
10.000 |
5.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
16.241 |
20.029 |
7.759 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
46.704 |
26.675 |
18.916 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
62.945 |
46.704 |
26.675 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.005 |
0.006 |
0.002 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.60
|
6.12 |
2.62 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.83
|
9.28 |
4.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.50
|
10.85 |
5.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.15 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.25
|
0.41 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.97
|
1.68 |
1.72 |
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 |
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 |
No |
Financial Results
:
During the financial year 2010 -11, the company has earned a profit of
Rs. 22.241 million (previous year Rs.30.028 million) after depreciation of Rs.
4.469 million (previous year Rs.4.373 million) on a turn over of Rs.284.033
million (previous year Rs. 323.427 million)
Note:
Registered Office of the company has been
shifted from 106, Rakesh Deep Apartment, Gulmohar Enclave Commercial Complex,
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipments
·
Tube – Well
·
Generator
·
Car Computer
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 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.54.63 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.86 |
INFORMATION DETAILS
|
Report Prepared
by : |
HET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
48 |
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.