1. Summary Information
|
|
|
Country |
|
|
Company Name |
ESENNAR TRANSFORMERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Arumalla Sridhar Reddy |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Arumalla Nirmala |
|
|
|
Registration # |
033244 |
|
Street Address |
Plot D-6 Pashamailaram, Medak-502307, Andhra Pradesh, India |
||
|
Established Date |
06.01.2000 |
SIC Code |
-- |
|
Telephone# |
91-8455-22420506 |
Business Style 1 |
Manufacturer |
|
Fax # |
-- |
Business Style 2 |
Exporter of Power Transformers |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.1,990,000
Millions |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors 100% |
Banking |
State Bank of
India HDFC Bank |
|
Public Limited Corp. |
-- |
Business Period |
12 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
63,893,000 |
Current Liabilities |
86,782,000 |
|
Inventories |
46,927,000 |
Long-term Liabilities |
37,830,000 |
|
Fixed Assets |
75,792,000 |
Other Liabilities |
720,000 |
|
Deferred Assets |
-- |
Total Liabilities |
125,332,000 |
|
Invest& other Assets |
5,859,000 |
Retained Earnings |
65,149,000 |
|
|
|
Net Worth |
67,139,000 |
|
Total Assets |
192,471,000 |
Total Liab. & Equity |
192,471,000 |
|
Total Assets (Previous Year) |
152,080,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
3,724,000 |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
14,137,000 |
|
Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ESENNAR TRANSFORMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot D-6 Pashamailaram, Medak-502307, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.01.2000 |
|
|
|
|
Com. Reg. No.: |
033244 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.990 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40109AP2000PTC033244 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Power Transformers, Distribution
Transformers and High Voltage Transformers |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 335695 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There appears
a dip in the profitability of the company. However, Networth appears to be
satisfactory. 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 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 (30.09.2011) |
Current Rating (31.12.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Plot D-6 Pashamailaram, Medak-502307, Andhra Pradesh, India |
|
Tel. No.: |
91-8455-22420506 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot No 2 Phase 1 IDA Pashamailaram Medak-502307, Andhra Pradesh,
India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Arumalla Sridhar Reddy |
|
Designation : |
Director |
|
Address : |
Plot-12, F-4, Aravinda Apatments, Sundar Nagar, Hyderabad-500038, |
|
Date of Birth/Age : |
19.08.1965 |
|
Date of Appointment : |
06.01.2000 |
Directorship in
Other Companies :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U40109AP2000PTC033244 |
ESENNAR TRANSFORMERS
PRIVATE LIMITED |
Director |
06/01/2000 |
06/01/2000 |
- |
Active |
NO |
|
Name : |
Mrs. Arumalla Nirmala |
|
Designation : |
Director |
|
Address : |
Plot-12, F-4, Aravinda Apatments, Sundar Nagar, Hyderabad-500038, |
|
Date of Birth/Age : |
12.07.1971 |
|
Date of Appointment : |
01.04.2000 |
Directorship in
Other Companies :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U40109AP2000PTC033244 |
ESENNAR
TRANSFORMERS PRIVATE LIMITED |
Director |
01/04/2000 |
01/04/2000 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Arumalla Sridhar Reddy |
|
12000 |
|
Kolli Linga Reddy |
|
700 |
|
Arumalla Nirmala |
|
7200 |
|
Total |
|
19900 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Power Transformers, Distribution
Transformers and High Voltage Transformers |
GENERAL INFORMATION
|
Suppliers : |
|
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|
|
||||||||||||||||||
|
Customers : |
|
||||||||||||||||||
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|
|
||||||||||||||||||
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No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
State Bank of India, Secunderabad Branch ·
HDFC Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V V Subramanyam Chartered Accountant |
|
Address : |
1-1-123/A, R T C Cross Roads, Hyderabad-500020, Andhra Pradesh, India |
|
|
|
|
Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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 |
|
19900 |
Equity Shares |
Rs.100/- each |
Rs.1.990 Millions |
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 |
1.990 |
1.990 |
1.990 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
65.149 |
61.425 |
45.717 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
67.139 |
63.415 |
47.707 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.830 |
20.500 |
8.825 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
37.830 |
20.500 |
8.825 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.418 |
|
|
Subsidy |
0.720 |
0.720 |
0.720 |
|
|
|
|
|
|
|
|
TOTAL |
105.689 |
84.635 |
57.670 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
75.792 |
61.659 |
33.488 |
|
|
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 |
46.927
|
32.469 |
37.905 |
|
|
Sundry Debtors |
23.406
|
21.636 |
14.668 |
|
|
Cash & Bank Balances |
0.425
|
0.684 |
0.531 |
|
|
Other Current Assets |
6.519
|
3.695 |
18.399 |
|
|
Loans & Advances |
33.543
|
26.228 |
17.373 |
|
Total
Current Assets |
110.820
|
84.712 |
88.876 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.024
|
15.235 |
22.014 |
|
|
Other Current Liabilities |
39.702
|
26.186 |
27.641 |
|
|
Provisions |
26.056
|
26.024 |
21.023 |
|
Total
Current Liabilities |
86.782
|
67.445 |
70.678 |
|
|
Net Current Assets |
24.038
|
17.267 |
18.198 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
Deferred Revenue Expenses |
5.859 |
5.709 |
5.984 |
|
|
|
|
|
|
|
|
TOTAL |
105.689 |
84.635 |
57.670 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
279.703 |
289.395 |
256.618 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenses |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3.724 |
14.137 |
13.526 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
56.043 |
41.906 |
32.240 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.223 |
|
|
|
Dividend |
0.000 |
0.000 |
1.990 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.338 |
|
|
|
Deferred Tax |
0.000 |
0.000 |
0.309 |
|
|
BALANCE CARRIED
TO THE B/S |
59.767 |
56.043 |
41.906 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.85
|
1.38 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.25 |
1.25 |
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 |
Yes |
|
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 |
-- |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
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 |
Yes |
|
30) Major Shareholders, if available |
Yes |
COMPANY PERFORMANCE
The Company has commenced
production in the second unit at Main Road, Pashamailaram, the construction of
which is commenced in earlier years and completed during the year under subject
matter i.e. F Y 2010-11. The Company has capitalized all the expenditure
pertaining the construction of factory building, procurement, installation,
synchronization and commencement of production in the new unit.
The Company completed yet another
year of strong performance with robust top line growth and high quality
earnings All business segments posted strong growth in revenues and enhanced
their market standing* testifying to the robustness of the corporate strategy
of creating multiple drivers of growth. This performance is even more
satisfying when viewed in the light of the challenging business environment of
the transformers industry.
And the Directors have pleasure in
informing that the Company to do better business in the current financial year
and is expected to achieve positive results.
Form 8
|
This form is for |
Modification of charge |
|
Charge identification number of the
modified |
10075359 |
|
Corporate identity number of the company |
U40109AP2000PTC033244 |
|
Name of the company |
ESENNAR TRANSFORMERS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Plot D-6pashamailaram, Medak-502307,
Andhra Pradesh, India |
|
Type of charge |
Book Debts Movable Property Floating Charge Immovable Property |
|
Particular of charge holder |
HDFC Bank Limited, HDFC Bank House,
Senapati Bapat Marg, Lower Parel(W), Mumbai-400013, Maharashtra, India |
|
Nature of description of the instrument
creating or modifying the charge |
a] Supplementary Letter of Hypothecation. b] Memorandum Recording Past Transaction
of Creation of Mortgage by Delivery of Title Deeds. [Collectively constitute a single charge
for Rs.63.500 millions]. |
|
Date of instrument Creating the charge |
05.03.2012 |
|
Amount secured by the charge |
Rs.63.500 Millions |
|
Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of Interest Interest at the rate as may be
communicated by the Bank from time to time. Terms of Repayment Working capital facility shall be payable
on demand. Term loan facility shall be repayable in
suitable installments. Margin As may be stipulated by the Bank from time
to time. Extent and Operation of the charge [a] Hyp by way of First Charge on
Company's Stock and Book Debts Plant and Machinery and Vehicles etc., to
secure as a continuing security [b] The Company accorded and gave oral
consent to Bank to continue to hold and retain the title deeds [by way of
Constructive delivery] in respect of its immovable properties, as security
for repayment of Rs.63.500 millions together with principal, interest,
liquidated damages, costs, charges and expenses. Others NIL |
|
Short particulars of the property charged |
Stock-in-trade, consisting of raw
materials, goods in process of manufacturing finished goods, and other merchandise
whatsoever being movable properties, now All the Debts, that is, all the book
debts, outstanding, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights which are now The movable plant and machinery and
vehicles, which may now or at any time hereafter belong to the Borrower or
come to the Borrowers disposal any of the Immovable property being lying and
situated at Plot No.2 in Sy No.342, 346 and 349, Situated at Pashamilaram,
Industrial Area, Phase - I, Patanchuru, Medak Dist. |
|
Date of latest modification prior to the
present modification |
13.05.2010 |
|
Particulars of the present
modification |
The charge shall now stand increased from
Rs.475 Lacs to Rs.635 Lacs in favour of the Bank against the security of
stocks, book debts, plant and machinery and vehicles and immovable properties being lying &
situate at Plot No.2 in Sy No.342, 346 and 349, Situated at Pashamilaram,
Industrial Area, Phase - I, Patanchuru, Medak Dist. |
FIXED ASSETS
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.52.51 |
|
|
1 |
Rs.85.49 |
|
Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
45 |
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.