|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
TRADINCO INSTRUMENTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Malati, Plot No.18, Giriraj Society, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.05.2011 |
|
|
|
|
Com. Reg. No.: |
25-139399 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.991 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220PN2011FTC139399 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter,
Supplier, Trader and Importer of a large range
of Testing and Measuring
Equipment. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company having a moderate track record. The company has incurred loss in its first year of business operation
which has completely eroded the net worth. However, Trade relations are improving. Business is active. Payment
terms are slow and delayed. The company can be considered for business dealings on a safe and
fully secured 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Navin Chandwaskar |
|
Designation : |
Director |
|
Contact No.: |
91-9967341054 |
|
Date : |
03.07.2013 |
LOCATIONS
|
Registered Office : |
Malati, Plot No.18, Giriraj Society, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9967341054 (Nr, Navin Chandwaskar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No.2, Suyog Co-Operative Housing Society, |
DIRECTORS
(AS ON 14.08.2012)
|
Name : |
Mr. Joost Cornelis Geluk |
|
Designation : |
Director |
|
Address : |
Rhijngeesterstraatweg 12, Oegstgeest, 2342AL |
|
Date of Birth/Age : |
06.08.1950 |
|
Date of Appointment : |
03.05.2011 |
|
Email : |
|
|
DIN No.: |
03476610 |
|
|
|
|
Name : |
Mr. Navin Bhagwant Chandwasker |
|
Designation : |
Director |
|
Address : |
20, 6th Cross, R K Layout, 1st Phase Padmanabha Nagar, |
|
Date of Birth/Age : |
04.10.1954 |
|
Date of Appointment : |
03.05.2011 |
|
Email : |
|
|
DIN No.: |
03453618 |
|
|
|
|
Name : |
Mr. Henricus Joannes Laurentius Derksen |
|
Designation : |
Director |
|
Address : |
Ds. Van Couwenhovelaan 162 Bergschenhoek
266IBK |
|
Date of Birth/Age : |
15.09.1962 |
|
Date of Appointment : |
03.05.2011 |
|
Email : |
|
|
DIN No.: |
03505955 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Srikantiah |
|
Designation : |
Chief Executive |
|
Mobile No.: |
91-9158911167 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Ricardo van den Heuvel |
|
Designation : |
Marketing Manager |
|
Mobile No.: |
91-9049695531 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Mayuresh Wadke |
|
Designation : |
Product Manager |
|
Mobile No.: |
91-9833748331 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 14.08.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Tradinco Instrument - |
|
199027 |
|
Joost Cornelis Geluk |
|
65 |
|
|
|
|
|
Total |
|
199092 |
(AS ON 02.11.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter,
Supplier, Trader and Importer of a large range
of Testing and Measuring
Equipment. |
|
|
|
|
Products : |
·
Test Benches o
Equipment o
Furniture ·
Bench-Top Instruments (for
Pressure/Electrical/Temperature) ·
Primary Standards o
Calibrator Unit For Pressure Balance o
Hydraulic Comparison Test Pump o
Hydraulic Pressure Balance ·
Portable Instruments (for
Pressure/Temperature/Electrical) ·
Calibration Software ·
Sensors (for Pressure/Temperature/Force/Vibration
& Acceleration/Length ) ·
Gauges (for Pressure/Temperature) ·
Switches (For Pressure/Temperature) ·
Diaphragm
Seals and Accessories |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jakatdar and Shah Chartered Accountants |
|
Address : |
Malati, Plot No 18, Giriraj Society, Baner Road, Pune – 411007,
Maharashtra, India |
|
PAN No.: |
AEFPJ4019P |
|
|
|
|
Holding Company : |
·
|
CAPITAL STRUCTURE
(AS ON 14.08.2012)
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 |
|
|
|
|
|
|
199092 |
Equity Shares |
Rs.10/- each |
Rs.1.991
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1.991 |
|
(b) Reserves & Surplus |
|
|
(2.257) |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
|
(0.266) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long
term liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b)
Trade payables |
|
|
1.965 |
|
(c)
Other current liabilities |
|
|
1.003 |
|
(d) Short-term
provisions |
|
|
0.398 |
|
Total Current
Liabilities (4) |
|
|
3.366 |
|
|
|
|
|
|
TOTAL |
|
|
3.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
|
0.125 |
|
(ii) Intangible
Assets |
|
|
0.016 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.994 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other
Non-current assets |
|
|
0.150 |
|
Total Non-Current
Assets |
|
|
1.285 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
1.760 |
|
(c)
Trade receivables |
|
|
0.000 |
|
(d) Cash
and cash equivalents |
|
|
0.055 |
|
(e)
Short-term loans and advances |
|
|
0.000 |
|
(f)
Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
1.815 |
|
|
|
|
|
|
TOTAL |
|
|
3.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
NA |
|
|
|
|
TOTAL |
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(3.217) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(3.251) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
(0.994) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) |
|
|
(2.257) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(24.20) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(154.37) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(12.22) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
0.54 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two years |
No |
|
12] |
Profitability for last two 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The Registered office of the company has been
shifted from 2, Prasad, 6 Suresh Society, 44/3 Erandwane, Off Gulmohar Lane,
Pune – 411007, Maharashtra, India to the present w.e.f. 30.06.2013.
FIXED ASSETS:
· Furniture and Fixtures
· Office Equipment
· Computer
· Computer Software
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 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.60.34 |
|
|
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.