MIRA
INFORM REPORT
|
Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
TRANS-FAB POWER INDIA PRIVATE LIMITED |
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Registered
Office : |
Flat No.E-23, S. No. 89/90, Shree Suvarna Apartments, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
13.04.2006 |
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Com. Reg. No.: |
11-022339 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
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CIN No.: [Company Identification
No.] |
U00360PN2006PTC022339 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNET05973C |
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PAN No.: [Permanent Account No.] |
AACCT4333J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distribution of Transformers |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 230000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
There appears some dip in the profitability of the company. However, trade relations
are reported as fair. Business is active.
Payments are reported to be slow but correct. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
LOCATIONS
|
Registered Office : |
Flat No.E-23, S. No. 89/90, Shree Suvarna Apartments, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9881208136 (Mr. Anirudha Chavan) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
3, Shreeniwas Palace, 40/30, Bhonde Colony, |
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Tel. No.: |
91-20-25420058/ 25433583/ 65289924 |
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Fax No.: |
91-20-25431423 |
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E-Mail : |
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Factory : |
Gat No. 392, Plot No. 2, |
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Tel. No.: |
91-20-20291221/ 20291222/ 65731034 |
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Fax No.: |
91-20-22923613/ 65731034 |
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E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Rajabhau Babasaheb Shinde |
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Designation : |
Director |
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Address : |
Flat No.E-23, Shree Suvarna Apartments, S. No. 89/90, Lokmanya
Colony, Kothrud, Pune – 411038, |
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Date of Birth/Age : |
14.05.1970 |
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Date of Appointment : |
13.04.2006 |
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DIN No.: |
00194151 |
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Name : |
Mrs. Pratibha Rajabhau Shinde |
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Designation : |
Director |
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Address : |
Flat No.E-23, Shree Suvarna Apartments, S. No. 89/90, Lokmanya
Colony, Kothrud, Pune – 411038, |
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Date of Birth/Age : |
25.10.1976 |
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Date of Appointment : |
13.04.2006 |
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DIN No.: |
00640703 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
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No. of Shares |
|
Rajabhau Babasaheb Shinde |
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162500 |
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Pratibha Rajabhau Shinde |
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37500 |
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Total |
|
200000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distribution of Transformers |
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Products: |
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PRODUCTION STATUS (As on 31.03.2011)
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Distribution Transformers |
No. |
1000 |
1546 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Bank of India, Shivajinagar Branch, Mumbai Pune Road,
Preet Chambers, Pune - 411003, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. S. Khisti and Company Chartered Accountants |
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Address : |
3, Ideal Chambers, Ideal Colony, Pune – 411038, Maharashtra, India |
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PAN.: |
ACJPK3224B |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
200000 |
Equity Shares |
Rs.100/-
each |
Rs.20.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
20.000 |
12.000 |
9.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
37.926 |
32.437 |
23.362 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
57.926 |
44.437 |
32.862 |
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LOAN FUNDS |
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1] Secured Loans |
78.935 |
71.721 |
80.572 |
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2] Unsecured Loans |
1.336 |
7.886 |
3.997 |
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TOTAL BORROWING |
80.271 |
79.607 |
84.569 |
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DEFERRED TAX LIABILITIES |
3.294 |
2.335 |
2.147 |
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TOTAL |
141.491 |
126.379 |
119.578 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
43.114 |
41.827 |
43.083 |
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Capital work-in-progress |
0.000 |
0.000 |
0.100 |
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INVESTMENT |
0.000 |
0.000 |
0.500 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
55.864
|
56.252 |
50.766 |
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Sundry Debtors |
129.026
|
129.825 |
163.654 |
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Cash & Bank Balances |
1.040
|
0.877 |
4.321 |
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Other Current Assets |
12.485
|
15.598 |
0.000 |
|
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Loans & Advances |
24.367
|
19.463 |
19.916 |
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Total
Current Assets |
222.782
|
222.015 |
238.657 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
0.000
|
0.000 |
145.209 |
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Other Current Liabilities |
123.872
|
132.521 |
7.763 |
|
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Provisions |
0.533
|
4.942 |
9.790 |
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Total
Current Liabilities |
124.405
|
137.463 |
162.762 |
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Net Current Assets |
98.377
|
84.552 |
75.895 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
141.491 |
126.379 |
119.578 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
354.777 |
286.528 |
207.220 |
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Other Income |
4.994 |
1.840 |
1.617 |
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TOTAL |
359.771 |
288.368 |
208.837 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
351.508 |
274.091 |
198.477 |
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Advertising Expenses |
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TOTAL |
351.508 |
274.091 |
198.477 |
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PROFIT BEFORE
TAX |
8.263 |
14.277 |
10.360 |
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Less |
TAX |
2.775 |
5.202 |
3.578 |
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PROFIT AFTER TAX
|
5.488 |
9.075 |
6.782 |
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Earnings Per
Share (Rs.) |
46.00 |
76.00 |
71.39 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.53
|
3.14 |
3.25 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.33
|
4.98 |
5.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.11
|
5.41 |
3.68 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.32 |
6.04 |
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Debt Equity Ratio (Total Debt /Networth) |
|
1.39
|
1.79 |
2.57 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.79
|
1.62 |
1.47 |
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 |
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 |
No |
|
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 |
|
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 |
CONTIQENT LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
|
Bills Discounted not matuared |
60.628 |
|
Claims against the company not acknowledged as debts. |
35.683 |
|
Claims against the company arising out of contractual obligation. |
7.115 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term Borrowings
|
|
|
|
Loans from Relatives / Directors |
1.336 |
7.886 |
|
Total |
1.336 |
7.886 |
|
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BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U00360PN2006PTC022339 |
|
Name of the
company |
TRANS-FAB POWER
INDIA PRIVATE LIMIT |
|
Address of the
registered office or of the principal place of business in |
Flat No.E-23, S. No. 89/90, Shree Suvarna Apartments, Paud Road,
Kothrud, Pune – 411038, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10037149 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Bank of India, Shivajinagar Branch, Mumbai Pune Road, Preet Chambers, Pune - 411003, Maharashtra, India |
|
Nature of
instrument creating charge |
Continuing Oral
Assent |
|
Date of
instrument Creating the charge |
23.03.2013 |
|
Amount secured by
the charge |
Rs.157.500
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 3.75% over Base
Rate presently 14 % p.a (Present Base Rate - 10.25% p.a) Terms of Repayment On Demand Margin Cash Credit
against Paid Stock - 25% Cash Credit against
Book Debts (upto 90 days) - 35% Letter of Credit
- 25% of TDR Others (Rs. in Millions) Facility Existing Limit Proposed Limit 1.CC (Stock 40.000 50.000 2.CC (Book
Debts) 20.000 30.000 3.Term Loan 12.748 NIL 4.Bank
Guarantee 65.000 65.000 5.Letter of
Credit 10.000 12.500 ====================================================== TOTAL 147.748 157.500 |
|
Date of
instrument modifying the charge |
23.03.2013 |
|
Particulars of
the present modification |
By this modification
the additional collateral security of immovable property enhanced from
Rs.135.000 Millions to Rs.157.500 Millions for the following facilities - (figures in lacs) 1.CC (Stock 50.000 2.CC (Book Debts) 30.000 3.Bank
Guarantee 65.000 4.Letter of
Credit 12.500 ======================= Total 157.500 |
FIXED ASSETS:
· Computers
· Electrical Installations
· Office Equipments
· Furniture and Furniture
· Factory Shed
·
· Plant and Machinery
· Testing Equipment
WEBSITE DETAILS:
PROFILE:
The
Trans Fab Engineering, a SSI unit, has been established in the year 2001. The
unit is located at Plot No. 4/2,
The unit is well equipped for manufacturing of distribution transformers up to
1000 KVA and power transformer up to 5 MVA at 22KV and 11KV level.
The distribution transformers manufactured area approved by Head Office of the
MSEDCL, Prakashgad, and Mumbai. The approved is circulated to all the Chief
Engineers vide L. No. SP/T-1201/0305/9540 Dtd. 23rd Sept. 2005
In additional to the major supply of distribution transformer to area covered
by Pune Municipal Corporation and Pimpri - Chinchwad Municipal Corporation, the
Trans Fab Engineering is supplying the transformer to various HT consumers and
Builders for Residential/ Commercial complex in Maharashtra.
MANPOWER:
The Trans Fab Engineering has qualified technically and accounts
staff in office, Qualified Supervisors and the skilled workers with wide
experience in the manufacturing of distribution transformer, as well as for its
after sales service.
MANUFACTURING FACILITIES:
The factory is well equipped with distribution transformer
manufacturing equipments such as various coil winding/ machines/
welding-cutting-bending machines/ crane/ chain pulley block, ovens and
fabrication facilities.
TESTING FACILITIES:
The unit is fully equipped with testing equipments required
as per Indian Standard specification (IS-2026, Part I - VII) and is capable to
conduct all tests mentioned there in.
The unit also has the facility to carry out BDV test on the Oil
received from reputed companies like APAR etc.
Each and every distribution transformer is tested before it is
dispatched and the testing record is maintained in the testing laboratory,
and in the office.
The type test of the transformer is already carried out at 'ERDA' Vadodara,
A Government of India approved Laboratory.
RAW MATERIAL:
The CRGO Laminations, copper, alluminium conductor, Insulation
Paper and Insulation board are procured from reputed manufacturer with a
regular quality check.
TRANSPORTATION:
The Unit has its own transport vehicle. The performance of last
4/5 years indicated almost negligible failure due to design or manufacturing
defects.
Even with the odd market conditions and fluctuation in raw material prices
(i.e. Steel/Copper/ Alluminium) the firm has successfully overcome the
situation and fulfilled the commitment of the customers.
The Company is planning for further expansion considering the rising demand for
distribution transformer of high quality. The Company also plans to manufacture
dry type distribution transformer in near future.
The Company also plans to manufacture HT Metering cubicle required for metering
of HT consumers of 11/22/33 KV level.
The Firm has already applied for ISO certification and
expects it in near future.
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.53.95 |
|
|
1 |
Rs.83.81 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.