1. Summary Information
|
|
|
Country |
|
|
Company Name |
SY-TECH
ENGINEERING PRIVATE LIMITED |
Principal Name 1 |
Mr. Jean Marie Frederic Fortune Von Oberndorff |
|
Status |
Moderate |
Principal Name 2 |
Ms. Mary Telma Francis |
|
|
|
Registration # |
08-029129 |
|
Street Address |
Naidu Complex, Ajith Layout, No. C-1, Basavanpura, Main Road,
Virgonagar Post, Old Madras Road, Bangalore – 560049, Karnataka, India |
||
|
Established Date |
15.06.2001 |
SIC Code |
-- |
|
Telephone# |
91-80-25619931 |
Business Style 1 |
Design |
|
Fax # |
Not Available |
Business Style 2 |
Manufacturer |
|
Homepage |
Product Name 1 |
Innovative Access-control Systems |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
2000000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings –
97.45%, Directors or
relatives of directors – 2.55% |
Banking |
Not Available |
|
Public Limited Corp. |
No |
Business Period |
11 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
J and A Enterprises Limited, |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
25,487,000 |
Current Liabilities |
4,212,000 |
|
Inventories |
12,433,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
5,371,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,212,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
37,079,000 |
|
|
|
Net Worth |
39,079,000 |
|
Total Assets |
43,291,000 |
Total Liab. & Equity |
43,291,000 |
|
Total Assets (Previous Year) |
47,457,000 |
|
|
|
P/L Statement as of |
31.03.2009 |
(Unit: Indian Rs.) |
|
|
Sales |
39,619,000 |
Net Profit |
(413,000) |
|
Sales(Previous yr) |
60,735,000 |
Net Profit(Prev.yr) |
9,093,000 |
|
Report Date : |
02.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
SY-TECH ENGINEERING PRIVATE LIMITED (w.e.f. 10.12.2001) |
|
|
|
|
Formerly Known
As : |
XPR MULTITECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Naidu Complex, Ajith Layout, No. C-1, Basavanpura, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2009 |
|
|
|
|
Date of
Incorporation : |
15.06.2001 |
|
|
|
|
Com. Reg. No.: |
08-029129 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909KA2001PTC029129 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS14705F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACX0182H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Design and Manufacture of Innovative
Access-control Systems. |
|
|
|
|
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 150000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The
management have not filed the financial details with government since 2009.
And management denied to disclose the financial details of the company. However,
trade relations are reported to be fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some cautions. |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.09.2011) |
Current Rating (31.12.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DECLINED BY
|
Name : |
Ms. Mary Telma Francis |
|
Designation : |
Director |
|
Contact No.: |
91-9880676724 |
|
Date : |
29.06.2012 |
LOCATIONS
|
Registered Office : |
Naidu Complex, Ajith Layout, No. C-1, Basavanpura, Main Road,
Virgonagar Post, |
|
Tel. No.: |
91-80-25619931/ 25619932/ 25619933 |
|
Mobile No.: |
91-9880676724 (Ms. Mary) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2009
|
Name : |
Mr. Jean Marie Frederic Fortune Von Oberndorff |
|||||||||||||||||
|
Designation : |
Managing director |
|||||||||||||||||
|
Address : |
41, Avenue Des, AVBE Pines, |
|||||||||||||||||
|
Date of Birth/Age : |
12.03.1943 |
|||||||||||||||||
|
Date of Appointment : |
15.06.2001 |
|||||||||||||||||
|
DIN No.: |
02378856 |
|||||||||||||||||
|
|
|
|||||||||||||||||
|
Name : |
Ms. Mary Telma Francis |
|||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||
|
Address : |
No. 15/39, |
|||||||||||||||||
|
Date of Birth/Age : |
26.11.1971 |
|||||||||||||||||
|
Date of Appointment : |
31.08.2007 |
|||||||||||||||||
|
DIN No.: |
01864790 |
|||||||||||||||||
|
|
|
|||||||||||||||||
|
Name : |
Nicolas A J C H M F Von Oberndorff |
|||||||||||||||||
|
Designation : |
Additional director |
|||||||||||||||||
|
Address : |
Avenue Des, AVBE Pines, 41 |
|||||||||||||||||
|
Date of Birth/Age : |
09.03.1974 |
|||||||||||||||||
|
Date of Appointment : |
30.09.2009 |
|||||||||||||||||
|
DIN No.: |
02525918 |
|||||||||||||||||
|
Other Directorship: |
|
|||||||||||||||||
|
||||||||||||||||||
|
|
|
|||||||||||||||||
|
Name : |
De Jambellinne De Meux Anne Marie |
|||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||
|
Address : |
41, Avenue Des, AVBE Pines, |
|||||||||||||||||
|
Date of Birth/Age : |
17.08.1950 |
|||||||||||||||||
|
Date of Appointment : |
11.08.2001 |
|||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
J and A Enterprises Limited, |
|
194900 |
|
Jean Von Oberndorff |
|
5100 |
|
Total |
|
200000 |
AS ON 30.09.2009
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
97.45 |
|
Directors
or relatives of directors |
|
2.55 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Design and Manufacture of Innovative
Access-control Systems. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON (31.03.2009)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity * |
Actual
Production |
|
Access Control Device |
|
Not Applicable |
36000 |
24228 |
* As stated by the management for the previous
year
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R K Khanna and Associates Chartered Accountants |
|
Address : |
1305 |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFR9496A |
|
|
|
|
Holding Company : |
J and A Enterprises Limited, |
CAPITAL STRUCTURE
AS ON 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
37.079 |
37.492 |
28.399 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.079 |
39.492 |
30.399 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.079 |
39.492 |
30.399 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.371 |
5.186 |
4.958 |
|
|
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 |
12.433
|
10.380 |
12.379 |
|
|
Sundry Debtors |
18.470
|
24.845 |
21.077 |
|
|
Cash & Bank Balances |
4.509
|
4.800 |
0.564 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.508
|
2.246 |
1.674 |
|
Total
Current Assets |
37.920
|
42.271 |
35.694 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.566
|
6.163 |
10.056 |
|
|
Other Current Liabilities |
0.536
|
0.322 |
0.197 |
|
|
Provisions |
0.110
|
1.480 |
0.000 |
|
Total
Current Liabilities |
4.212
|
7.965 |
10.253 |
|
|
Net Current Assets |
33.708
|
34.307 |
25.441 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.079 |
39.492 |
30.399 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Export Sales |
39.579 |
60.735 |
55.952 |
|
|
|
Domestic Tariff Area (DTA) Sales |
0.040 |
0.000 |
2.582 |
|
|
|
Other Income |
0.499 |
0.640 |
(0.469) |
|
|
|
TOTAL (A) |
40.118 |
61.375 |
58.065 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
34.362 |
34.469 |
30.951 |
|
|
|
Selling Expenses |
5.059 |
6.629 |
9.532 |
|
|
|
Administrative and Other Expenses |
3.730 |
6.760 |
8.983 |
|
|
|
Increase/ Decrease in Work in progress |
(3.879) |
1.747 |
(0.441) |
|
|
|
TOTAL (B) |
39.272 |
49.605 |
49.025 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.846 |
11.770 |
9.040 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.274 |
0.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.846 |
11.496 |
8.932 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.149 |
0.924 |
1.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(0.303) |
10.572 |
7.812 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.110 |
1.479 |
0.196 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(0.413) |
9.093 |
7.616 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
47.811 |
50.735 |
N.A. |
|
|
TOTAL EARNINGS |
47.811 |
50.735 |
N.A. |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5.704 |
7.527 |
N.A. |
|
|
TOTAL IMPORTS |
5.704 |
7.527 |
N.A. |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(2.07) |
45.47 |
38.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
(1.03) |
14.82 |
13.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.76) |
17.41 |
13.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.70) |
22.28 |
19.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.27 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.11 |
0.20 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.00 |
5.31 |
3.48 |
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. Constructions 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 |
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 |
No |
|
20. Export / Import details |
No |
|
21. Market information |
-- |
|
22. Litigations that the firm / promoter involved |
-- |
|
23. Banking Details |
No |
|
24. Banking facility details |
No |
|
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 |
Note: The registered address of the company has been
shifted from 15/39, 1st Floor,
FIXED ASSETS:
·
Plant and Machinery
·
Furniture and Fixtures
·
IT Equipments
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 56.31 |
|
|
1 |
Rs. 88.06 |
|
Euro |
1 |
Rs. 70.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
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 |
|
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.