MIRA
INFORM REPORT
|
Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
COMBUSTION TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known
As : |
COMBUSTION CONTROL ENGINEERS |
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Registered
Office : |
Shriniwas Nirmiti, 40 B/1A, Bhau Patil Road, Bopodi, Pune - 411020,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.08.1995 |
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Com. Reg. No.: |
11-091357 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 million |
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CIN No.: [Company Identification
No.] |
U29309PN1995PTC091357 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC01089E |
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PAN No.: [Permanent
Account No.] |
AAACC7584J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of a wide variety of combustion and thermal equipments. |
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No. of Employees
: |
Not Available |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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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 |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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
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Registered Office : |
Shriniwas Nirmiti, 40 B/1A, Bhau Patil Road, Bopodi, Pune - 411020,
Maharashtra, India |
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Tel. No.: |
91-20-27679500 / 46769412 / 25812620 / 25812537 / 25820215 |
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Fax No.: |
91-20-25812536 |
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E-Mail : |
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Website : |
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Factory 1 : |
W-31, ‘T’ Block, MIDC, Bhosari, Pune – 411 026, India |
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Fax No.: |
91-20-46769412 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Swapankumar Saradakanta Roy |
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Designation : |
Director |
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Address : |
Flat No. 5, Profile Garnet, 116 Anand Park, Aundh, Pune – 411 007,
Maharashtra, India |
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Date of Birth/Age : |
25.01.1959 |
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Date of Appointment : |
03.08.2006 |
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DIN No.: |
00343732 |
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Other Directorship:
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Name : |
Mr. Hemant Bhalchandra Kulkarni |
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Designation : |
Director |
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Address : |
C – 307, Namrata Apartments, Bhau – Patil Road, Pune – 411 020,
Maharashtra, India |
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Date of Birth/Age : |
18.09.1959 |
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Date of Appointment : |
03.08.2006 |
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DIN No.: |
00343610 |
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MAJOR SHAREHOLDERS
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Swapankumar Saradakanta Roy |
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5000 |
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Hemant Bhalchandra Kulkarni |
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5000 |
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TOTAL |
|
10000 |
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 : |
Manufacturer of a wide variety of combustion and thermal equipments. |
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Products : |
·
Gas Flaring Systems ·
Burners ·
Flame / Spark Arrestors ·
Electrical Heat Treatment Equipment ·
Combustion Services |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Bank of India, Spicer College
Branch, Spicer College Campus, Pune – 411007, Maharashtra, India · HDFC Bank Limited, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
V M Maitri and Company Chartered Accountants |
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Address : |
Office No. 09-10, B – Wing, Kamla Cross Road, Pimpri, Pune – 411 018,
Maharashtra, India |
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Tel. No.: |
91-20-27423679 |
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PAN No.: |
AAUPM9583C |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
20000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.000 millions |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000
million |
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|
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NOTE:
Of the above, 8950 Equity shares of Rs.100 each, have
been issued as fully paid bonus shares by capitalisation of General Reserve
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
25.402 |
19.731 |
15.696 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
26.402 |
20.731 |
16.696 |
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LOAN FUNDS |
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1] Secured Loans |
29.802 |
22.446 |
13.018 |
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2] Unsecured Loans |
4.492 |
4.700 |
0.937 |
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TOTAL BORROWING |
34.294 |
27.146 |
13.955 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
60.696 |
47.877 |
30.651 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
47.706 |
27.862 |
17.912 |
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Capital work-in-progress |
0.000 |
9.625 |
5.577 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.729 |
0.547 |
0.351 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
9.755
|
9.447 |
5.068 |
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Sundry Debtors |
2.304
|
9.309 |
3.532 |
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Cash & Bank Balances |
24.661
|
13.508 |
19.539 |
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Other Current Assets |
0.136
|
0.096 |
0.001 |
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Loans & Advances |
4.265
|
4.303 |
2.856 |
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Total
Current Assets |
41.121
|
36.663 |
30.996 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
4.971
|
2.285 |
2.386 |
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Other Current Liabilities |
20.607
|
21.857 |
19.413 |
|
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Provisions |
3.282
|
2.678 |
2.386 |
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Total
Current Liabilities |
28.860
|
26.820 |
24.185 |
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Net Current Assets |
12.261
|
9.843 |
6.811 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
60.696 |
47.877 |
30.651 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover |
137.400 |
116.300 |
64.100 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.198 |
10.109 |
6.104 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
3.581 |
2.604 |
2.446 |
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PROFIT BEFORE
TAX |
10.617 |
7.505 |
3.658 |
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Less |
TAX |
3.784 |
2.304 |
1.426 |
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PROFIT AFTER TAX
|
6.833 |
5.201 |
2.232 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.426 |
0.891 |
0.329 |
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.000 |
0.500 |
0.500 |
|
|
|
Provision for proposed dividend |
1.000 |
1.000 |
1.000 |
|
|
|
Provision for tax on Dividend |
0.162 |
0.166 |
0.170 |
|
|
BALANCE CARRIED
TO THE B/S |
2.097 |
4.426 |
0.891 |
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|
Earnings Per
Share (Rs.) |
683.3 |
-- |
-- |
|
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%2005-Sep-2013_files/image002.gif){kind=small}
%2005-Sep-2013_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.95
|
11.63 |
7.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.36 |
0.22 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.39
|
2.60 |
2.28 |
|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.37 |
1.28 |
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U29309PN1995PTC091357 |
|
Name of the
company |
COMBUSTION
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shriniwas
Nirmiti, 40 B/1A, Bhau Patil Road, Bopodi, Pune – 411020, Maharashtra, India e-mail: combustion@vsnl.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10171281 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of India, Spicer College Branch, Spicer
College Campus, Pune – 411007, Maharashtra, India e-mail: boispicer@vsnl.net.in |
|
Date of instrument
Creating the charge |
12.01.2012 |
|
Amount secured by
the charge |
Rs. 22.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 0.25 % below BPLR
minimum 12.25% p.a. Terms of Repayment on demand Margin nil Extent and Operation of the charge Equitable
mortgage of office no. 1 about 650 sq. ft., office no. 2 about 764 sq.ft.
Both situated at building called shriniwas nirmiti, bopodi, pune. Equitable
mortgage of plot no. W-31 in bhosari industrial estate admeasuring about 950
sq. mtrs. Equitable
mortgage of plot no. El-21/3, pimpri industrial area, bhosari, taluka haveli,
pune. Plant and
machinery lying at plot no. W-31 mentioned above. |
|
Short particulars
of the property charged |
Office no. 1
about 650 sq. Ft. On ground floor, mezzanine and open surrounding space,
office no. 2 about 764 sq.ft. On mezzanine floor both situated at building
called shriniwas nirmiti, bopodi, pune. Plot no. W-31 in
bhosari industrial estate admeasuring about 950 sq. mtrs. And industrial shed
constructed thereon admeasuring about 704.50 sq. mtrs. All plant and
machinery lying at plot no. W-31 mentioned above. Plot no. El-21/3,
pimpri industrial area, bhosari, taluka haveli, pune. |
|
Date of latest
modification prior to the present modification |
29.06.2010 |
|
Particulars of
the present modification |
Total term loan
Limit stands at Rs. 2250.000 millions title deeds of plot no. El-21/3 held by
bank of India under oral asset no. 465 dated 12-01-2012. |
OPERATIONS:
The company has achieved a turnover of Rs.
137.400 millions as against Rs. 116.300 in the previous year, resulting this
into a post tax profit of Rs. 6.833 millions as compared to Rs. 5.201 millions in
the previous year.
FIXED ASSETS
·
Leasehold Land
·
Residential Building
·
Factory Building
·
Office Building
·
Plant and machinery
·
Furniture and Fixtures
·
Computers
·
Office Equipments
·
Vehicle
·
Softwares
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.67.03 |
|
|
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.