MIRA
INFORM REPORT
|
Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
TRANSCELTIC CORES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No.4,
Nandadeep Apartment, |
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|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
04.09.2000 |
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|
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|
Com. Reg. No.: |
25-015268 |
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|
Capital
Investment / Paid-up Capital : |
Rs.2.002
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31102PN2000PTC015268 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNET03881D PNET03732B |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCT2719B |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Transformer Parts CRGO Core. |
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|
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 135000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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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 and
as per commitments. 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 Office : |
Flat No.4,
Nandadeep Apartment, |
|
Tel. No.: |
91-20-25444525/ 25666280/ 25666281 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
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Factory : |
Shed No.1, Plot No.J-4/4/2, Additional MIDC, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rajan Ramchandra Shevade |
|
Designation : |
Director |
|
Address : |
F/1, Bank of |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
Diploma in Mechanical Engineering |
|
Date of Appointment : |
04.09.2000 |
|
DIN No.: |
00276710 |
|
|
|
|
Name : |
Mrs. Kalyani Rajan Shevade |
|
Designation : |
Director |
|
Address : |
F/1, Bank of |
|
Date of Appointment : |
04.09.2000 |
|
DIN No.: |
00281861 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajan Shevade |
|
200133 |
|
Kalyani Shevade |
|
100 |
|
Total |
|
200233 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Transformer Parts CRGO Core. |
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|
|
|
Products : |
Transformers |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Transformer Laminations |
Kgs. |
N.A. |
N.A. |
1042727 |
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|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
The Saraswat Co-Operative
Bank Limited, C-2, Kohinoor Estate Co-Operative Housing Society, Plot No.12, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Savadi and Associates Chartered Accountants |
|
Address : |
A/2, Krutika Apartment, Lane No.9, Dahanukar Colony, Pune – 411 038, |
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Tel. No.: |
91-20-25468481 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ALEPS9943B |
|
|
|
|
Related Parties : |
v
R.R. Shevade Transport v
Trans Electro Trading Company |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200233 |
Equity Shares |
Rs.10/- each |
Rs.2.002
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 |
2.002 |
2.002 |
2.002 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
31.859 |
29.106 |
25.689 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
33.861 |
31.108 |
27.691 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
21.847 |
12.214 |
9.364 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
1.000 |
|
|
TOTAL BORROWING |
21.847 |
12.214 |
10.364 |
|
|
DEFERRED TAX LIABILITIES |
0.004 |
0.000 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
55.712 |
43.322 |
38.070 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.426 |
2.914 |
2.484 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.025 |
0.025 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.021 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.503
|
1.050 |
11.378 |
|
|
Sundry Debtors |
40.309
|
33.062 |
55.747 |
|
|
Cash & Bank Balances |
2.337
|
8.589 |
7.310 |
|
|
Other Current Assets |
2.446
|
4.231 |
4.290 |
|
|
Loans & Advances |
1.317
|
0.000 |
0.000 |
|
Total
Current Assets |
48.912
|
46.932 |
78.725 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.967
|
4.780 |
41.566 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
1.684
|
1.790 |
1.598 |
|
Total
Current Liabilities |
4.651
|
6.570 |
43.164 |
|
|
Net Current Assets |
44.261
|
40.362 |
35.561 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
55.712 |
43.322 |
38.070 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
114.179 |
146.130 |
132.265 |
|
|
|
Other Income |
|
1.047 |
0.766 |
|
|
|
TOTAL |
114.179 |
147.177 |
133.031 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
110.102 |
142.231 |
130.618 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
110.102 |
142.231 |
130.618 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.077 |
4.946 |
2.413 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.324 |
1.529 |
0.851 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.753 |
3.417 |
1.562 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Material |
0.000 |
45.902 |
90.376 |
|
|
|
Purchase of Machinery |
0.000 |
0.325 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
46.227 |
90.376 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.75 |
17.06 |
7.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.41
|
2.32 |
1.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.38 |
1.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.76
|
9.92 |
2.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.16 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.78
|
0.60 |
1.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.52
|
7.14 |
1.82 |
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 |
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 |
Yes |
|
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 |
Yes |
|
30) Major
Shareholders, if available |
Yes |
Note:
The registered office of the company has been shifted from F/1, Bank of India
Colony, Dattawadi, Pune – 411 030,
BUSINESS:
During the year
2010-11, the company achieved a turnover of Rs.114.100 millions compared to
Rs.147.100 millions of last year. Because of this profit after tax is declined
by more than 20% compared to the last year’s net profit after tax.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2011 (Rs.
in millions) |
|
Corporate Guarantee to TETC |
32.500 |
|
|
|
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31102PN2000PTC015268 |
|
Name of the
company |
TRANSCELTIC CORES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No.4, Nandadeep
Apartment, E-Mail: transceltic@vsnl.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable Property
Book Debts Movable Property
(not being pledge) Floating Charge Others (All
tangible movable property) |
|
Particular of
charge holder |
The Saraswat
Co-Operative Bank Limited, C-2, Kohinoor Estate Co-Operative Housing Society,
Plot No.12, E-Mail: csadeshpande@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1) Equitable
mortgage by deposit of original title deeds dated 30th November,
2011 2) Agreement of
Hypothecation of movable property dated 30th November, 2011 (Both documents
create a single a charge) |
|
Date of
instrument Creating the charge |
30.11.2011 |
|
Amount secured by
the charge |
Rs.32.500 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Commission as per
schedule of L/C charges Terms of
Repayment: 180 days for raw
material Margin: 10% in FDR Extent and Operation
of the charge: Type of facility
:- Letter of credit Rs.32.500 millions Others: All other terms
and conditions as per agreement. |
|
Short particulars
of the property charged |
A) The borrower/s
doth do hereby hypothecate to and in favour of the Bank all the goods under
L/C, Stock, Tangible Movable Property, Book Debts, Outstandings, Monies
Receivable, Claims and Bills, Plant and Machinery (both present and future)
belonging to the borrower/s and lying and being at the borrowers place of
business at Shed No-1, Plot No.4/4/2 Village Kodoli Satara or elsewhere as
maybe situated. B) All that piece
and parcel of land admeasuring about 20ares out of land admeasuring about 1H
97ares out of Gat No.405 of Mouje Bhare Taluka Mulshi, District Pune C) All that piece
and parcel of land known as Plot No.J/4/4/2 admeasuring 4087.50 sq.mtrs. in
the Satara Industrial Area, Village Kodoli, Taluka Satara D) All that piece
and parcel of land bearing Survey No.50 Hissa No.9/12 admeasuring about 50
sq.mtrs and Survey No.50, Hissa No.9/21 of Mouje Narhe admeasuring about 119
sq. mtrs togetherwith industrial shed/building constructed thereon
admeasuring about 1000 sq. fts. of Mouje Narhe, Taluka Mawal, District Pune E) All that piece
and parcel of land being Plot No.B-5 admeasuring about 1000 sq.fts out of
sanctioned layout of (Old) Gat No.322/B, Mouje Pirangut, together with shed
thereon District Pune Taluka Mulshi togetherwith all easementary rights
annexed to the said land and togetherwith shed/ building constructed on said land with all
fixtures, furniture and fittings therein and with all plants and machinery
embaded in earth therein. |
FIXED ASSETS:
v
Land
v
v
Plant and Machinery
v
Tools
v
Office Equipment
v
Furniture
v
Computers
v
Altis Toyota
v
Diesel Genset
v
Capital WIP
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.55.58 |
|
|
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
YES |
|
--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.