MIRA INFORM REPORT

Report No. :	484821
Report Date :	11.01.2018

IDENTIFICATION DETAILS

Name :	TRANSPADE ENGINEERS PRIVATE LIMITED
Registered Office :	No. 68, Koramangala Industrial, Layout Hosur Road, Bangalore, Bangalore – 560034, Karnataka
Tel. No.:	91-80-25533044
Country :	India
Financials (as on) :	31.03.2017
Date of Incorporation :	19.06.1981
Com. Reg. No.:	08-004269
Capital Investment / Paid-up Capital :	INR 0.425 Million
CIN No.: [Company Identification No.]	U72900KA1981PTC004269
IEC No.:	Not Divulged
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
GSTIN :	Not Divulged
PAN No.: [Permanent Account No.]	AAACT5438J
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is a Manufacturer of Heavy Duty Cranes. (Registered activity)
No. of Employees :	Information declined by the management

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1981. The company is a manufacturer of EOT cranes, gantry cranes, grabbing cranes, JIB cranes, electric winches, electric hoists and industrial gears. As per the financial of 2017, the company has achieved a decent growth of 62.33% in its revenue as compared to the previous year and reported average profitability margin of 2.21%. The company possesses fair financial profile marked by adequate net worth base along with low debt balance sheet profile and satisfactory liquidity position. Rating takes into consideration the company’s healthy Earnings Per Share (EPS) of INR 860 as against its Face Value (FV) of INR 100. Rating also takes into consideration the long established track record of the company. Business is active. Payments are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

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

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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 31-03-2016.

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 11.01.2018

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

INFORMATION DENIED BY

Name :	Mr. Sadashiv Rao
Designation :	Director
Contact No.:	91-9945066429
Date :	09.01.2018

Tel. No.: 91-80-25533044 (Ringing)

LOCATIONS

Registered Office :	No. 68, Koramangala Industrial, Layout Hosur Road, Bangalore, Bangalore – 560034, Karnataka, India
Tel. No.:	91-80-25533044 / 25530183
Mobile No.:	91-9945066429 (Mr. Sadashiv Rao)
Fax No.:	91-80-27833555
E-Mail :	bangalore@rnbca.com teplho@gmail.com
Website :	www.transpade.com
Work :	#23-24, Bommasandra Industrial Area, Bangalore – 560099, Karnataka, India

DIRECTORS

As on 31.03.2017

Name :	Mr. Sadashivrao Balakrishna Ghorpade
Designation :	Director
Address :	253, KHB Colony, Koramangala, Bangalore - 560095, Karnataka, India
Date of Appointment :	19.06.1981
DIN No.:	00517732
Name :	Mrs. Kala Sadashiv Ghorpade
Designation :	Director
Address :	253, KHB Colony, Koramangala, Bangalore - 560095, Karnataka, India
Date of Appointment :	01.08.1997
DIN No.:	00577790

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2017

Names of Shareholders	No. of Shares
Sadashivrao Balakrishna Ghorpade	3350
Kala Sadashiv Ghorpade	305
Vikram Ghorpade	200
Bhavana Ghorpade	200
Vibha Ghorpade	200
Total	4255

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2017

Category	Percentage
Promoter – (Individual/ Hindu Undivided Family – Indian)	85.90
Public – (Individual/ Hindu Undivided Family – Indian)	14.10
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is a Manufacturer of Heavy Duty Cranes. (Registered activity)

Products :

Item Code No.	Product Description
2819	Manufacturer of Other General Purpose Machinery

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

• Chandra Shekar Fabrictors
• Logix Automation Solutions
• Mahabher Pooja Fabrication Works
• Maheshwari Movements
• MK Enterprises
• Renuka Enterprises
• Sudhakar Engineering Works
• Arbel Company
• Best Industrial Agency
• CSN Steel
• Etcor Enterprises
• Gem Paints Private Limited
• Hitech Power Controls
• Immaculate Steels Private Limited
• Indian Fabricators
• Lasa Engineers Private Limited
• Laxmi Steel Traders
• M.S. Steel
• Param Sales Private Limited
• Parikh Metaliks Private Limited
• SPML Infra Limited
• S.J.S. Steel Traders

Reference :	Akhila Electrical Engineering Works
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

Customers :

• Danieli India Limited
• Jyothi Limited, Hongadahall
• Kirloskar Brothers Limited
• Kirloskar Brothers – NLC
• Megha Engg and Infran Limited Mamadapur)
• Navyuga Engineering Company Limited, (Klip)
• Sumuka Engineers
• Uraniam Corporation Limited
• Karnataka Neeravari Nigam Limited
• Rithwik Projects Private Limited
• Megha Engineering – Uday Samudram LIS

Reference :	Amrutha Constructions Private Limited
Name of the Person :	--
Contact No.:	--
Since How Long Known :	--
Maximum Limit Dealt :	--
Experience :	--
Remark:	--

No. of Employees :

Information declined by the management

Bankers :

Bank Name	State Bank Of Travancore
Branch	Residency Road. Branch, 'Aishwarya Castle', No.10 Castle Street Near Brigade Towers, Ashok Nagar, Bangalore – 560025, Karnataka, India
Person Name (With Designation)	--
Contact Number	--
Name of Account Holder	--
Account Number	--
Account Since (Date/Year of Account Opening)	--
Average Balance Maintained (If Possible)	--
Credit Facilities Enjoyed (If any)	--
Account Operation	--
Remarks (If any)	--

Facilities :

Secured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Short-term borrowings
Loan repayable on Demand:
Working Capital Loans from Banks:
State Bank of Travancore, Residency Road, Bangalore	13.559	3.804
Stand-By-Line of Credit (SLC)	0.000	0.005
(The above loans are secured by hypothecation of Stocks, Receivables, existing machinery and other fixed assets and Equitable mortgage of Bommasandra Factory registered in the name of the Company and five strayed building and Karamangala Industrial Layout registered in the name of Sri S.B. Gharpade)
Total	13.559	3.809

Auditors :
Name :	Rajagopal and Badri Narayanan Chartered Accountants
Address :	No.25, Padmashree Mansions, 2nd Floor, 1^st Cross Sampige Road Malleswaram, Bangalore- 560003, Karnataka, India
PAN N Income-tax PAN of auditor or auditor's firm :	AACFR5386A
Memberships :	Not Available
Collaborators :	Not Available
Other related parties :	Renuka Enterprises

CAPITAL STRUCTURE

As on 31.03.2017

Authorised Capital :

No. of Shares	Type	Value	Amount
5000	Equity Shares	INR 10/- each	INR 0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4255	Equity Shares	INR 10/- each	INR 0.425 Million

FINANCIAL DATA

[all figures are in INR Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2017	31.03.2016	31.03.2015
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	0.425	0.425	0.425
(b) Reserves & Surplus	42.766	39.108	37.685
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	43.191	39.533	38.110
(3) Non-Current Liabilities
(a) long-term borrowings	0.543	1.888	0.000
(b) Deferred tax liabilities (Net)	0.781	0.725	0.622
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	1.470	1.470	1.470
Total Non-current Liabilities (3)	2.794	4.083	2.092
(4) Current Liabilities
(a) Short term borrowings	14.779	4.793	2.916
(b) Trade payables	46.822	20.299	21.897
(c) Other current liabilities	7.326	2.583	1.407
(d) Short-term provisions	2.152	0.724	1.575
Total Current Liabilities (4)	71.079	28.399	27.795
TOTAL	117.064	72.015	67.997
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	11.910	13.525	10.467
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	5.682	4.001	1.967
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	17.592	17.526	12.434
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	26.488	12.961	10.841
(c) Trade receivables	50.967	26.285	23.207
(d) Cash and cash equivalents	11.881	11.434	17.040
(e) Short-term loans and advances	10.136	3.809	4.475
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	99.472	54.489	55.563
TOTAL	117.064	72.015	67.997

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2017	31.03.2016	31.03.2015
	SALES
	Income	165.597	102.012	115.214
	Other Income	0.770	1.239	2.070
	TOTAL	166.367	103.251	117.284
Less	EXPENSES
	Cost of Materials Consumed	105.660	59.127	71.009
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(8.050)	0.480	0.220
	Employees benefits expense	21.675	10.918	9.505
	Other expenses	35.026	24.945	24.100
	TOTAL	154.311	95.470	104.834
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	12.056	7.781	12.450
Less	FINANCIAL EXPENSES	3.970	3.246	6.103
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	8.086	4.535	6.347
Less/ Add	DEPRECIATION/ AMORTISATION	1.914	2.302	1.611
	PROFIT/ (LOSS) BEFORE TAX	6.172	2.233	4.736
Less	TAX	2.514	0.960	1.603
	PROFIT/ (LOSS) AFTER TAX	3.658	1.273	3.133
	Earnings / (Loss) Per Share (INR)	860	299	736

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2017	31.03.2016	31.03.2015
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	5.335	(1.983)	24.383

KEY RATIOS

EFFICIENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Average Collection Days (Sundry Debtors / Income * 365 Days)	112.34	94.05	73.52
Account Receivables Turnover (Income / Sundry Debtors)	3.25	3.88	4.96
Average Payment Days (Sundry Creditors / Purchases * 365 Days)	161.75	125.31	112.55
Inventory Turnover (Operating Income / Inventories)	0.46	0.60	1.15
Asset Turnover (Operating Income / Net Fixed Assets)	1.01	0.58	1.19

LEVERAGE RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Debt Ratio ((Borrowing + Current Liabilities) / Total Assets)	0.61	0.42	0.41
Debt Equity Ratio (Total Liability / Networth)	0.35	0.17	0.08
Current Liabilities to Networth (Current Liabilities / Net Worth)	1.65	0.72	0.73
Fixed Assets to Networth (Net Fixed Assets / Networth)	0.28	0.34	0.27
Interest Coverage Ratio (PBIT / Financial Charges)	3.04	2.40	2.04

PROFITABILITY RATIOS

PARTICULARS		31.03.2017	31.03.2016	31.03.2015
Net Profit Margin ((PAT / Sales) * 100)	%	2.21	1.25	2.72
Return on Total Assets ((PAT / Total Assets) * 100)	%	3.12	1.77	4.61
Return on Investment (ROI) ((PAT / Networth) * 100)	%	8.47	3.22	8.22

SOLVENCY RATIOS

PARTICULARS	31.03.2017	31.03.2016	31.03.2015
Current Ratio (Current Assets / Current Liabilities)	1.40	1.92	2.00
Quick Ratio ((Current Assets – Inventories) / Current Liabilities)	1.03	1.46	1.61
G-Score Ratio Financial (Networth / Total Assets)	0.37	0.55	0.56
G-Score Ratio Debt (Debts / Equity Capital)	36.05	15.72	6.86
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities)	1.40	1.92	2.00

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

FINANCIAL ANALYSIS

[all figures are INR Million]

DEBT EQUITY RATIO

Particular	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Share Capital	0.425	0.425	0.425
Reserves & Surplus	37.685	39.108	42.766
Share Application money pending allotment	0.000	0.000	0.000
Net worth	38.110	39.533	43.191
Long Term borrowings	0.000	1.888	0.543
Short Term borrowings	2.916	4.793	14.779
Total borrowings	2.916	6.681	15.322
Debt/Equity ratio	0.077	0.169	0.355

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	115.214	102.012	165.597
		(11.459)	62.331

NET PROFIT MARGIN

Net Profit Margin	31.03.2015	31.03.2016	31.03.2017
	INR In Million	INR In Million	INR In Million
Sales	115.214	102.012	165.597
Profit	3.133	1.273	3.658
	2.72%	1.25%	2.21%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	Yes
19	Major customers	Yes
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

CORPORATE INFORMATION:

Subject is a Manufacturer of Heavy Duty Cranes having its registered office at No. 68, Koramangala, Industrial Layout, Hosur Road, Bangalore – 560034, Karnataka, India

UNSECURED LOAN

Unsecured Loan	31.03.2017 (INR in Million)	31.03.2016 (INR in Million)
Long-term Borrowings
Loan from Daimer Financial Service India Private Limited :
Car Loan (Secured by hypothecation of Car)	0.543	1.888
Short-term borrowings
Loan from Daimer Financial Service India Private Limited :
Car Loan (Secured by hypothecation of Car)	1.220	0.984
Total	1.763	2.872

INDEX OF CHARGES:

SNo	SRN	Charge Id	Charge Holder Name	Date of Creation	Date of Modification	Date of Satisfaction	Amount	Address
1	B66469677	90193355	STATE BANK OF TRAVANCORE	09/02/1988	29/12/2012	-	103000000.0	RESIDENCY ROAD. BRANCH, 'AISHWARYA CASTLE', NO.10 CASTLE STREET NEAR BRIGADE TOWERS, ASHOK NAGAR, BANGALORE – 560025, KARNATAKA, INDIA
2	Y10295128	90193229	STATE BANK OF TRAVANCORE	11/04/1986	11/11/1993	-	900000.0	RESIDENCY ROAD BRANCH, BANGALORE – 560025, KARNATAKA, INDIA

FIXED ASSETS

• Land
• Building
• Plant and Equipment
• Generator Set
• Furniture and Fixture
• Vehicle
• Office Equipment
• Computer

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

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	INR
US Dollar	1	INR 63.46
UK Pound	1	INR 86.15
Euro	1	INR 75.91

INFORMATION DETAILS

Information Gathered by :	SLK
Analysis Done by :	NYT
Report Prepared by :	SUJ

SCORE FACTORS

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

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.