1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Powercap
Transformer Technologies Private Limited |
Principal Name 1 |
Mr. Pandian Thirumal |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Meenakshi Sundari Pandian |
|
|
|
Registration # |
18-027617 |
|
Street Address |
245-246-B, Burma Colony Perungudi, Chennai – 600096, Tamilnadu, India |
||
|
Established Date |
23.05.1994 |
SIC Code |
-- |
|
Telephone# |
91-44-42154750/ 60/ 70 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-42154780 |
Business Style 2 |
Supplier |
|
Homepage |
-- |
Product Name 1 |
Electrical Transformers |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.2,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors- 100% |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
18 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba
(43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
44,364,000 |
Current Liabilities |
8,631,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
35,162,000 |
|
Fixed Assets |
21,050,000 |
Other Liabilities |
1,337,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
45,130,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
17,284,000 |
|
|
|
Net Worth |
20,284,000 |
|
Total Assets |
65,414,000 |
Total Liab. & Equity |
65,414,000 |
|
Total Assets (Previous Year) |
66,846,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
69,085,000 |
Net Profit |
3,656,000 |
|
Sales(Previous yr) |
74,052,000 |
Net Profit(Prev.yr) |
3,047,000 |
|
Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
POWERCAP TRANSFORMER TECHNOLOGIES PRIVATE LIMITED (w.e.f. 29.03.2011) |
|
|
|
|
Formerly Known
As : |
POWERCAP SYSTEMS (MADRAS) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
245-246-B, Burma Colony Perungudi, Chennai – 600096, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
23.05.1994 |
|
|
|
|
Com. Reg. No.: |
18-027617 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007TN1994PTC027617 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of a wide range of Electrical Transformers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 81000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered/ Corporate Office : |
Plot No.245-246-B, Burma Colony Perungudi, Chennai – 600096, Tamilnadu,
India |
|
Tel. No.: |
91-44-42154750/ 60/ 70 |
|
Fax No.: |
91-44-42154780 |
|
E-Mail : |
|
|
|
|
|
Factory : |
No.3, Thiruvalluvar Salai, kumaran Nagar, Sholinhanallur, Chennai –
600119, Tamilnadu, India |
|
|
|
|
Branch Office : |
Located at: · Europe · North America |
DIRECTORS
(AS ON 30.06.2010)
|
Name : |
Mr. Pandian Thirumal |
||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||
|
Address : |
Plot No.165, II Avenue Vettuvankeni, Velachery, Chennai – 600115,
Tamilnadu, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1964 |
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Date of Appointment : |
23.05.1994 |
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DIN No.: |
01703786 |
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Other Directorship : |
|
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||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Meenakshi Sundari Pandian |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
Plot No.165, II Avenue Vettuvankeni, Velachery, Chennai – 600115, Tamilnadu,
India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.11.1965 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
23.05.1994 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
01704052 |
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|
Other Directorship : |
|
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|
|||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pandian Thirumal |
|
1000 |
|
Meenakshi Sundari Pandian |
|
19000 |
|
|
|
|
|
Total |
|
20000 |
(AS ON 30.09.2010)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of a wide range of Electrical Transformers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Bankers : |
· Canara Bank Perungudi SME
Branch, Chennai – 600096, Tamilnadu, India |
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Facilities : |
|
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. Krishnan Chartered Accountant |
|
Address : |
No.17, (Old No.8), Kennedy First Street, Mylapore – 600004, Tamilnadu,
India |
|
PAN No.: |
AAEPK2009D |
CAPITAL STRUCTURE
(AS ON 30.06.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
1.000 |
1.000 |
1.000 |
|
|
3] Reserves & Surplus |
17.284 |
13.628 |
10.580 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.284 |
16.628 |
13.580 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
32.712 |
38.804 |
20.555 |
|
|
2] Unsecured Loans |
2.450 |
1.834 |
1.135 |
|
|
TOTAL BORROWING |
35.162 |
40.638 |
21.690 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.446 |
57.266 |
35.270 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
21.050 |
20.108 |
14.100 |
|
|
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 |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
16.918
|
18.077 |
14.719 |
|
|
Cash & Bank Balances |
1.001
|
0.901 |
0.447 |
|
|
Other Current Assets |
26.445
|
27.760 |
13.954 |
|
|
Loans & Advances |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
44.364
|
46.738 |
29.120 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
6.956
|
6.602 |
6.832 |
|
|
Other Current Liabilities |
1.675
|
1.030 |
0.670 |
|
|
Provisions |
1.337
|
1.948 |
0.448 |
|
Total
Current Liabilities |
9.968
|
9.580 |
7.950 |
|
|
Net Current Assets |
34.396
|
37.158 |
21.170 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.446 |
57.266 |
35.270 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
69.085 |
74.052 |
74.436 |
|
|
|
Other Income |
0.026 |
0.002 |
0.225 |
|
|
|
TOTAL |
69.111 |
74.054 |
74.661 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
33.906 |
35.732 |
40.713 |
|
|
|
Manufacturing Expenses |
12.568 |
16.509 |
16.860 |
|
|
|
Administrative and Selling Expenses |
16.478 |
15.967 |
11.270 |
|
|
|
Loss of Sales of Assets |
0.000 |
0.000 |
0.108 |
|
|
|
TOTAL |
62.952 |
68.208 |
68.951 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.159 |
5.846 |
5.710 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.303 |
1.299 |
0.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.856 |
4.547 |
4.867 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.200 |
1.500 |
1.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.656 |
3.047 |
3.367 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.402 |
10.355 |
6.988 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17.058 |
13.402 |
10.355 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
182.80 |
152.35 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.29
|
4.11 |
4.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.03
|
6.14 |
6.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.42
|
6.80 |
11.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.27 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.22
|
3.02 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.45
|
4.88 |
3.66 |
LOCAL AGENCY FURTHER INFORMATION
GENERAL REVIEW FOR THE YEAR AND OUTLOOK FOR THE FUTURE
The company performance during the year had
continued to be good. Turnover for the year increased as a result of which the company
had managed to make a good profit. The company had an export turnover of
Rs.0.322 Million.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90294056 |
|
Corporate identity
number of the company |
U30007TN1994PTC027617 |
|
Name of the
company |
POWERCAP SYSTEMS
(MADRAS) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
245-246-B, Burma Colony,
Perungudi, Chennai – 600096, Tamilnadu, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Canara Bank Perungudi SME
Branch, Chennai – 600096, Tamilnadu, India |
|
Nature of
description of the instrument creating or modifying the charge |
No Instrument
-Extension of already held Equitable mortgage by deposit of title
deeds-Letter Evidencing Deposit of title Deeds - stamped Letter enclosed. |
|
Date of instrument
Creating the charge |
12.09.2008 |
|
Amount secured by
the charge |
Rs.33.334
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest As per the
Document (Rate of interest is subject to change by the bank from time to
time) Terms of
Repayment As per the
document Margin As per the
document Extent and
Operation of the charge Exclusive First
Charge. Others Charge amount of Rs.33.334
Millions is comprising OCC-Rs.25.000 Millions, FLC (DA)-Rs.2.500 Million,
MLI-Rs.0.800 Millions, ML II-Rs.4.724 Millions and Can Mobile-Rs.0.310
Millions and all other terms and
conditions are as per the document. |
|
Short particulars
of the property charged |
Equitable
mortgage on all land, buildings, structures, plant and machinery standing
thereon at 1) Plot No.245, 2) Plot No.246, 3) Plot No.246A, 4) Plot No.246B,
all measuring 1920 sq. ft. each, at S.No.137/1A1 of Palavakkam Village and
the four plots being reconstituted in one unit with the building thereon,
lying within the registration district of south chennai and registration sub
district of Neelankarai, morefully described in the letter enclosed. This is
in addition to all other existing securities. |
|
Date of latest
modification prior to the present modification |
25.07.2008 |
|
Particulars of
the present modification |
Charge amount on
the above Landed Property, morefully described in the Letter enclosed, enhanced
to Rs.33.334 Millions. All other terms
and conditions of the original charge and subsequent modifications remain
unchanged. |
FIXED ASSETS:
· Land
· Building
· Battery
· Emergency Lamp
· Telephone and Fax
· Computer, Software and Accessories
· Furniture
· Fan
· Typewriter
· Vehicle
· Cycle
· Machinery
· Mould
· Air Conditioner
· Metal Detector and Security Alarm
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.49.85 |
|
|
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
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.