|
Report Date : |
28.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOTEM INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
Door No.6, Totem House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.10.2010 |
|
|
|
|
Date of
Incorporation : |
24.06.2009 |
|
|
|
|
Com. Reg. No.: |
01-064124 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999AP2009PLC064124 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDT04053A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCT2035L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter and Importer of security electronic surveillance, security
training and sensitization |
|
|
|
|
No. of Employees
: |
19 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B [26] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4100 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having moderate track. There appears some accumulated
losses recorded by the company. However, trade relations are fair. Business
is active. Payments are reported to be slow. The company can be considered for business dealings 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 – 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 |
INFORMATION PARTED BY
|
Name : |
|
|
Designation : |
Director |
|
Contact No.: |
91-9618621234 |
|
Date : |
08.05.2012 |
LOCATIONS
|
Registered Office : |
Door No.6, Totem House, |
|
Tel. No.: |
91-40-23350097 / 23350199 |
|
Mobile : |
91-9618621234 (Mr. Firoze ) |
|
Fax No.: |
91-40-23350082 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
24.12.2010
|
Name : |
Mr. |
|
Designation : |
Whole-time Director |
|
Address : |
No.10-2-273, Flat No.507, Keerti Sudarshan, West Marredpally, |
|
Date of Birth/Age : |
05.10.1949 |
|
Date of Appointment : |
15.03.2010 |
|
DIN : |
03064429 |
|
|
|
|
Name : |
Mr. Firoze Zia Hussain |
|
Designation : |
Director |
|
Address : |
Block 14, |
|
Date of Birth/Age : |
25.12.1967 |
|
Date of Appointment : |
02.07.2009 |
|
DIN : |
02664915 |
|
|
|
|
Name : |
Mr. Prakash Nayak |
|
Designation : |
Director |
|
Address : |
9th A Main, Indira Nagar, 1st Stage, |
|
Date of Birth/Age : |
20.05.1961 |
|
Date of Appointment : |
02.07.2009 |
|
DIN : |
01499859 |
KEY EXECUTIVES
|
Name : |
Mr. Chandra Sekhar |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Kavita Tottempudi |
|
510000 |
|
Salalith Tottempudi |
|
305000 |
|
Dr. Pujari |
|
0 |
|
Abhijit Roy |
|
0 |
|
Mehnaz Parveen |
|
30000 |
|
Firoze Zia Hussain |
|
30000 |
|
Jyotsna Chauhan |
|
85000 |
|
Prakash Nayak |
|
30000 |
|
|
|
10000 |
|
Total |
|
1000000 |
As on 24.12.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
10.00 |
|
Other top fifty shareholders |
90.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Importer of security electronic surveillance, security
training and sensitization |
|
|
|
|
Exports : |
|
|
Products : |
Security Electronic Surveillance |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Security Training |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C / Cash / Credit (30 days) (60 days) |
|
|
|
|
Purchasing : |
L/C / Cash / Credit (30 days) (60 days) |
GENERAL INFORMATION
|
Customers : |
|
||||||||
|
|
|
||||||||
|
No. of Employees : |
19 (Approximately) |
||||||||
|
|
|
||||||||
|
Bankers : |
State Bank of |
||||||||
|
|
|
||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
1-8-384 and 385, 3rd floor, Gowra Grand, S.P. Road,
Begimpet, Secunderabad – 500003, Andhra Pradesh, India |
|
Tel. No.: |
91-40-40312600 |
|
Fax No.: |
91-40-40312714 |
|
|
|
|
|
Totem Infrastructure Limited |
CAPITAL STRUCTURE
As on 31.10.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/-each |
Rs.50.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 millions |
|
|
|
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
24.06.2009 to
31.10.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.000 |
|
|
2] Share Application Money |
|
|
0.977 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(9.941) |
|
|
NETWORTH |
|
|
1.036 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1.816 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
1.816 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.051 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.903 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.437 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.416 |
|
|
Sundry Debtors |
|
|
2.783 |
|
|
Cash & Bank Balances |
|
|
0.913 |
|
|
Other Current Assets |
|
|
1.384 |
|
|
Loans & Advances |
|
|
0.811 |
|
Total
Current Assets |
|
|
6.307 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3.298 |
|
|
Other Current Liabilities |
|
|
0.420 |
|
|
Provisions |
|
|
0.123 |
|
Total
Current Liabilities |
|
|
3.841 |
|
|
Net Current Assets |
|
|
2.466 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.903 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
24.06.2009 to
31.10.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
4.647 |
|
|
|
Income from services |
|
|
8.847 |
|
|
|
Other Income |
|
|
0.293 |
|
|
|
TOTAL (A) |
|
|
13.787 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
4.244 |
|
|
|
Personnel Expenses |
|
|
8.787 |
|
|
|
General and Administrative Expenses |
|
|
9.798 |
|
|
|
TOTAL (B) |
|
|
22.829 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
(9.042) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.772 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
(9.814) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
(9.890) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
|
0.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
|
(9.941) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
(9.941) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(19.92) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Income From Services |
|
|
8.847 |
|
|
|
TOTAL EARNINGS |
|
|
8.847 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Purchase of Traded goods |
|
|
0.102 |
|
|
|
TOTAL IMPORTS |
|
|
0.102 |
|
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Sales Turnover (Approximately) |
60.000 |
20.000 |
|
|
(Expansion of
Business ) |
|
Expected Sales (2012-2013): Rs.80.000 millions
The above information has been parted by Mr. Firoze.
KEY RATIOS
|
PARTICULARS |
|
|
|
24.06.2009 to
31.10.2010 |
|
PAT / Total Income |
(%) |
|
|
(72.10) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
(212.82) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(146.65) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(9.55) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
5.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.64 |
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 |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
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 |
Yes |
|
30) Major Shareholders, if available |
Yes |
Note: registered office address
of the company has been shifted from Plot No.723, Sri Venkateshwara Hills
Colony, Road No.3, Banjara Hills, Hyderabad – 500082, Andhra Pradesh, India to
the present address w.e.f. 15.03.2010.
Business
Performance Review:
The company has achieved a turnover of Rs.4.646 million during its first
year of commercial operation. They also facilitated sales of Rs.210.000 million
during the year and earned commission of Rs.8.847 million on the transaction.
Changes in Share
Capital:
The company has raised Rs.5.000 million during the year apart from the
initial subscription of Rs.5.000 million. The paid up capital of the company
stands at Rs.10.000 million for the year ended 31.10.2010.
Contingent
Liability:
Bank Guarantee – Rs.1.191 million [As on 31.10.2010]
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74999AP2009PLC064124 |
|
Name of the
company |
Totem
International Limited |
|
Address of the registered
office or of the principal place of
business in |
Door No 6, Totem
house, Dwarakapuri
Colony, Punjagutta, |
|
This form is for |
Creation
of Charge |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
1. Agreement of
Hypothecation of goods and assets 2. Agreement for
loan for overall limit |
|
Date of
instrument Creating the charge |
30.07.2010 |
|
Amount secured by
the charge |
Rs.65.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- CC: 6.80% above Base rate i.e. 14.55% (floating) with monthly rests
(current base rate 7.75%) Terms of
Repayment - On demand Margin - Raw
materials 25%;SIP: 25%; Finished goods : 25%; Receivables: 25%; Letter of
credit : 10%; Bank guarantee: 10%(margin on Financial Guarantees to be kept
at 15%) the sanctioning authority has recommended 25% concession in BG
charges) Extent and
Operation of the charge - Working capital - CC and BG: Primary: Hypothecation
of entire current assets including stocks and book debts present and future
by way of first charge. However, no DP will be allowed against book debts
older than 90 days.Collateral: 1) immovable property situated at H No 19, Sy
no 42(p), 43(p), 45(p) and 46(p) situated at layout name Anthem
Gudlapochampally village, R R Dist 2) Residential flat situated at H No
8-3-222/8/A/11, Sy No 6, 7, 91 and 92, F No 301, 3rd floor, Madhuranagar,
Hyderabad |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
H No 19, Sy no
42(p), 43(p), 45(p) and 46(p) situated at layout name Anthem Gudlapochampally
village, R R Dist Residential flat
situated at H No 8-3-222/8/A/11, Sy No 6, 7, 91 and 92, F No 301, 3rd floor,
Madhuranagar, |
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.55.73 |
|
|
1 |
Rs.87.26 |
|
Euro |
1 |
|
|
|
|
|
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.