|
Report Date : |
15.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
TERRATEC INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
402, Ansal Chamber – II, Bhikaji Cama Place, New Delhi – 110066 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.02.2009 |
|
|
|
|
Com. Reg. No.: |
29-187702 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.380 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400DL2009PTC187702 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG11762C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCG3783A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Electronic and Mechanical Equipments. |
|
|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Terratec Hongkong”. It is an established
company having moderate track record. There appear huge accumulated losses recorded by the company which
resulted in erosion of its networth. However, Business is active. Payments terms are slow. The company can be considered for business dealings on a safe and
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 PARTED BY
|
Name : |
Mr. Pankaj |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-11-46695021 |
|
Date : |
12.07.2013 |
LOCATIONS
|
Registered Office : |
402, Ansal Chamber – II, Bhikaji Cama Place, New Delhi – 110066, India
|
|
Tel. No.: |
91-11-46695021/ 26471404 |
|
Fax No.: |
91-11-26169111 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Rajiv Kumar |
|
Designation : |
Director |
|
Address : |
R/o 815, 3rd Floor, Sector – 12, R. K. Pumar, New Delhi –
110022, India |
|
Date of Birth/Age : |
25.07.1972 |
|
Date of Appointment : |
30.03.2009 |
|
DIN No.: |
02599360 |
|
|
|
|
Name : |
Mr. Gulshan Dill |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajiv Kumar |
|
1 |
|
Terratec Limited, Hong Kong |
|
37999 |
|
|
|
|
|
Total |
|
38000 |
(AS ON 30.09.2012)
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] |
|
99.99 |
|
Directors or relatives of directors |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Electronic and Mechanical Equipments. |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|
|
|
|
No. of Employees : |
15 (Approximately) |
|
|
|
|
Bankers : |
· Citi Bank Connaught Circus, New Delhi – 110001, India Contact No.: 91-11-23712087 |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Satish K. Aggarwal and Company Chartered Accountants |
|
Address : |
A-58, Dayanand Colony, Lajpat Nagar – IV, New Delhi – 110024, India |
|
Tel No.: |
91-11-26471404 |
|
Mobile No.: |
91-9212912238/ 9212115760 |
|
PAN No.: |
AAIFS7852C |
|
Email : |
|
|
|
|
|
Holding Company : |
Terratec Limited, Hong Kong |
CAPITAL STRUCTURE
(AS ON 28.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38000 |
Equity Shares |
Rs.10/- each |
Rs.0.380
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
0.380 |
0.380 |
|
(b) Reserves & Surplus |
|
(7.755) |
(2.157) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
3.082 |
3.082 |
|
Total
Shareholders’ Funds (1)+(2) |
|
(4.293) |
1.305 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
0.000 |
0.000 |
|
(c)
Other current liabilities |
|
14.934 |
2.629 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
14.934 |
2.629 |
|
|
|
|
|
|
TOTAL |
|
10.641 |
3.934 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
0.010 |
0.019 |
|
(i)
Tangible assets |
|
0.000 |
0.000 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.090 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.113 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
0.213 |
0.019 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
3.816 |
3.440 |
|
(d) Cash
and cash equivalents |
|
4.747 |
0.009 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f)
Other current assets |
|
1.865 |
0.466 |
|
Total
Current Assets |
|
10.428 |
3.915 |
|
|
|
|
|
|
TOTAL |
|
10.641 |
3.934 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.380 |
|
|
2] Share Application Money |
|
|
1.314 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(1.312) |
|
|
NETWORTH |
|
|
0.382 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.385 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.048 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.016 |
|
|
Cash & Bank Balances |
|
|
0.016 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.402 |
|
Total
Current Assets |
|
|
0.434 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.237 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
0.237 |
|
|
Net Current Assets |
|
|
0.197 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.140 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
0.385 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
12.690 |
3.424 |
NA |
|
|
|
Other Income |
0.065 |
0.000 |
NA |
|
|
|
TOTAL |
12.755 |
3.424 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
18.343 |
4.239 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(5.588) |
(0.815) |
(1.280) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.009 |
0.030 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(5.597) |
(0.845) |
(1.286) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(5.597) |
(0.845) |
(1.288) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(147.29) |
-- |
-- |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
40.000 |
The above information has been parted by Mr. Pankaj.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(43.88)
|
(24.68) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(44.11)
|
(24.68) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(53.05)
|
(21.48) |
(266.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.30
|
(0.65) |
(3.37) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.70
|
1.49 |
1.83 |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
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 B-28, Ansal Chambers- 1, Bhikaji Cama Place, New Delhi – 110066, India.
To the present address w.e.f. 20.10.2012.
NEWS:
TERRATEC opens a
branch office in India
TERRATEC announces the opening of a branch office in New Delhi on Dec. 5th, 2008, to provide all the range of its tunnelling and mining products and services for the growing excavating industry in India.
With a population currently exceeding 1.1 billion people, the necessities for
tunneling in this emerging country reach all the fields: the service networks
of water supply and sewerage in the cities, the new Metro Systems under
development in New Delhi, Mumbai, Bangalore, Chennai and Kolkata, or the huge
Hydroelectric Projects in the Himalayas.
The expansion comes as the company scales to meet increasing customer demand
for TERRATEC’s technologies in the Asia and Middle East markets. With this key
base in India, TERRATEC can better serve current customers and reach more new
prospects with advanced excavating equipment of Tunnel Boring Machines and
Raise Boring Machines.
Now TERRATEC is providing customers with direct access to its product
portfolio, extensive technical know-how and applications expertise through a
team with strong knowledge of local market conditions.
TERRATEC SUPPLIES
FIRST TBM FOR DELHI METRO PHRASE III
Terratec is pleased to announce that on Thursday, November 29th, the first of six (6) TBMs for Delhi Metro Phase III was delivered to the client after a successful performance of the workshop testing.
The official ceremony was held in the presence of representatives from the client - a joint venture between Metrostroy O.S. of Russia and ERA Infra Ltd. of India - after seven (7) months from receipt of order, which is a record for this class of machine. The second TBM for this project will be delivered to the JV before the end of the year.
The Tunnel Boring Machine is a 6.61m EPB Shield. It has been specifically designed for the conditions of this project and incorporates state-of- the-art features such as the VFD electric driven CutterHead, a versatile design of the cutting tools that are interchangeable with 17’’ roller disc cutters, the active type articulation for the shield, and the tail’s built-in 2-Liquid backfilling system.
The JV intends to use a total of two (2) TBMs for the execution of the tunnelling works between Kashmere Gate and Jama Masjid Stations – all part of Delhi Metro Contract CC-07. This brings the total combined distance that each TBM will bore to approximately 2,040m. The tunnel segment lining will be made of RC segments, universal type, with an outer diameter of 6,350mm, inner diameter of 5,800mm and width of 1,400mm.
Delhi – the capital city of India and the largest commercial centre in northern India – has a growing demand for more infrastructure and transportation given the huge influx of people who flock to the city annually. The GDP grew by 10.7% in the past five years making it the fastest growing city in the region. Phase III focuses on more of the outer lying areas of the city. As Delhi’s population grows and expands outward, there is a greater need for transportation to these areas. Once Phase III is completed, the Metro will cover 70% of Delhi.
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 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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
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 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
16 |
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.