Techno Engineering CRISIL Rating: SME...
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1 Techno Engineering CRISIL Rating: SME 4 'Average' Indicates the level of creditworthiness, adjudged in relation to other SMEs Report Date Valid Till May 17, 2013 May 16, 2014
Transcript of Techno Engineering CRISIL Rating: SME...
1
Techno Engineering
CRISIL Rating: SME 4
'Average'
Indicates the level of creditworthiness,
adjudged in relation to other SMEs
Report Date Valid Till
May 17, 2013 May 16, 2014
1
Important Notice
The rating is a one-time exercise and the rating will not be kept under surveillance. This rating is
valid for one year from the report date, subject to no significant changes/events occurring during
this period that could materially affect the business or financial parameters of the organisation as
mentioned in the report. CRISIL, however, recommends that the user of the rating seeks a review of
the rating if the organisation experiences significant changes/events during this period which could
impact the organisation/its rating.
The rating and this report are based on the information provided to CRISIL by the organisation
and/or obtained by CRISIL from sources it considers reliable including published annual reports,
management meetings, industry data and discussions with bankers, customers and suppliers.
CRISIL does not guarantee the accuracy, adequacy or completeness of any information on which
the rating and the report are based and is not responsible for any errors or omissions for the
results/opinions obtained from the use of the rating or the rating report. The rating does not
constitute an audit of the organisation by CRISIL. The rating is also not a recommendation to enter
into or not enter into any transaction with the organisation. CRISIL reserves the right to disclose the
organisation’s rating and the rating report to Government and/or Regulatory Authorities/Courts of
Law if required to do so.
It is especially stated that CRISIL, its Directors, Rating Committee members, employees and others
associated with the rating assignment do not have any financial liability whatsoever including but
not limited to attorney’s or consultant’s fees to the users of this rating or this rating report. No part
of this report may be reproduced by any means without CRISIL’s prior written approval.
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Index
CRISIL SME RATING .................................................................................................................................... 3
RATING HISTORY ......................................................................................................................................... 3
KEY RATING DRIVERS ............................................................................................................................... 4
STRENGTHS ........................................................................................................................................... 4
RISK FACTORS ...................................................................................................................................... 4
FACT SHEET ................................................................................................................................................... 5
KEY DEVELOPMENTS AND PLANS DURING 2013-14 AND 2012-13 .................................................. 6
BUSINESS PROFILE ...................................................................................................................................... 7
BUSINESS DESCRIPTION .................................................................................................................... 7
PAST PROJECTS OF THE FIRM ........................................................................................................... 8
ONGOING PROJECTS OF THE FIRM DURING 2013-14: .................................................................. 9
FUTURE PROJECTS OF THE FIRM ................................................................................................... 10
CUSTOMER PROFILE AND DEMAND-SIDE ANALYSIS .............................................................. 11
SUPPLIER PROFILE AND SUPPLY-SIDE ANALYSIS .................................................................... 12
SERVICE FACILITIES ......................................................................................................................... 12
OWNERSHIP AND MANAGEMENT ........................................................................................................ 13
PROPRIETORS’ PROFILE ................................................................................................................... 13
KEY MANAGEMENT PERSONNEL .................................................................................................. 13
ORGANISATION STRUCTURE, CONTROLS, AND SYSTEMS ..................................................... 14
OWNERSHIP PATTERN ...................................................................................................................... 14
GROUP COMPANIES AND FIRMS .................................................................................................... 14
FINANCIAL PROFILE ................................................................................................................................. 15
CURRENT FINANCIAL PERFORMANCE ......................................................................................... 15
PAST FINANCIAL PERFORMANCE .................................................................................................. 16
PROFIT AND LOSS ACCOUNT ..................................................................................................... 16
BALANCE SHEET ............................................................................................................................ 17
KEY FINANCIAL RATIOS .............................................................................................................. 18
FUND FLOW STATEMENT ............................................................................................................ 19
GRAPHS ............................................................................................................................................ 20
BANKING FACILITIES ........................................................................................................................ 21
SITE VISIT (as per previous rating report) ................................................................................................... 22
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CRISIL SME RATING
RATING HISTORY
Rating Assigned on Valid till Rating acceptance Type
SME 4 18-Jun-12 16-May-13 Accepted New
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KEY RATING DRIVERS
STRENGTHS
• Promoter with more than 23 years in the same line of business. This demonstrates his ability to
steer the firm through operational hurdles.
• Strong credit protection measures as reflected in debt-to-equity ratio (not including promoter
loans) of 0.41 times as on March 31, 2012, and net cash accruals of 86.90 per cent of total debt
for 2011-12 (refers to financial year, April 1 to March 31).
• Adequate profitability as reflected in operating profit before depreciation, interest, and tax
(OPBDIT) margin of 11.91 per cent, profit after tax (PAT) margin of 6.69 per cent, and return
on capital employed (RoCE) of 39.53 per cent for the year ended March 31, 2012.
RISK FACTORS
• Moderate scale of operations and average business certainty; the firm recorded net sales of
Rs.834.46 for the year ended March 31, 2012, despite being operational for 23 years. Moreover,
the firm’s net sales declined marginally during 2011-12. Business certainty is dependent on the
firm’s ability to bid successfully, as about 85 per cent of the business is tender-based. The
firm’s ability to scale up operations in a sustained manner remains to be seen.
• Geographical concentration risk, as the firm’s operations are limited to West Bengal.
• Weak working capital management as reflected in stretched payables from 2009-10 to 2011-12.
• Intense competition from other small and organised players and raw material price volatility
may constrain margins in the future.
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FACT SHEET
Name of the firm Techno Engineering
Year of establishment 1990
Legal status Proprietorship
Legal history There has been no change in the firm’s constitution,
management, and business since inception.
Registered with Not applicable
Registration number
SSI Registration number
Proprietor Mr. Chandan Kumar Dey
Category of entrepreneur General
Listed at Not applicable
Registered office Village Hirapur, Deriachawk
Purba Medinipur – 721 151
West Bengal
Tel.: +91 322 8231 651
Fax: +91 322 8231 366
Email:
Website: www.technoengineering.co.in
Administrative office / service
facility
Kakdihi, Mechada
Purba Medinipur – 721 137
West Bengal
Number of employees Permanent: 725
Contractual: 1,922
Total: 2,647
Certifications and awards None
Brands None
Statutory compliance • Income tax filing: Regular and timely
• Excise duty filing: Not applicable1
• Service tax filing: Regular and timely
• Wealth tax filing: Not applicable
• ESIC and EPF dues: Regular and timely
(As provided by management, not independently verified)
1 The firm is engaged in providing services
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KEY DEVELOPMENTS AND PLANS DURING 2013-14 AND 2012-13
Revenues: As per the previous rating exercise, the firm did not provide its projections for 2011-12;
however, it recorded marginal decline in sales to Rs.834.46 lakh in 2011-12 from Rs.862.69 lakh in
2010-11.
Plan:
• As per the previous rating exercise conducted in June 2012, the firm did not have any capital
expansion plans for 2012-13.
• The firm does not have any capital expenditure plan for the near term.
Employee base:
• There has been no change in the employee base, except for contractual employees, which vary
depending upon the quantum of work undertaken.
Banking facility
• Term loan facility availed from Central Bank of India was repaid during 2012-13.
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BUSINESS PROFILE
BUSINESS DESCRIPTION
Nature of business : Services
Industry : Heavy electrical equipment and EPC
Industry prospects : Strong
Business description
: • The firm is engaged in engineering, procurement
and construction (EPC) activities, wherein it
undertakes turnkey projects for power sector, steel
plant, and fertiliser plant.
• The periphery of the work undertaken by the firm
includes fabrication, erection, commissioning,
renovation, overhauling, and maintenance of
material handling systems, air pollution control
systems, ammonia flue gas conditioning system,
boiler pressure, rotating equipment, coal handling
plant, ore handling plant, and ash handling plant.
• About 85 per cent of the orders are tender-based.
The firm bids for about 30 tenders floated by
subsidiaries of West Bengal Power Development
Corporation Limited (WBPDCL), including
Sagardighi Thermal Power Project, Southern
Generating Station, Santaldih Thermal Power
Station, RP - Sanjib Goenka Group, Mc Nally
Bharat Company Limited, Essar Project India
Limited each year, and has a success rate of about
70 per cent in winning tender bid.
• The average value of the projects undertaken
ranges from Rs.10.00 lakh to Rs.240.00 lakh.
• The average time taken for completion of a project
ranges from a month to 18 months.
• The firm can handle maximum eight projects
simultaneously.
• The firm undertakes annual maintenance contracts,
usually for a year to three years. The charges for
the same ranges from Rs.30.00 lakh to Rs.320.00
lakh.
• The firm provides a warranty of about six months.
• The firm is an enlisted directorate of boilers, West
Bengal and Jharkhand and also a contractor of
Electrical Licensing Board, West Bengal.
• The firm allots one senior engineer and three junior
engineers for each project. The firm has a team of
10 electrical engineers and 15 mechanical
engineers.
Experience in the business : 23 years
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Service range : Diverse
Degree of competition : High; entry barriers are low
Customer profile : Direct customers
PAST PROJECTS OF THE FIRM2
Name and location of the
customer
Nature of work Value
of the
project
(Rs.
Lakh)
Sagardighi Thermal Power Project,
West Bengal
Maintenance of electrical system 60.00
Sagardighi Thermal Power Project,
West Bengal
Maintenance of boilers pressure parts and non
pressure parts
138.92
Essar Projects India Limited,
West Bengal
Fabrication of built up, rolled and semi built up steel
structures
94.00
McNally Bharat Engineering
Company Limited, West Bengal
Fabrication work for coal handling plant 103.03
Santaldih Thermal Power Station,
West Bengal
Overhauling of boiler pressure parts, non-pressure
parts, ESP overhauling with transformer oil-
filtration
123.00
Crescent Power Limited, West
Bengal
Overhauling of boiler and auxiliaries 36.00
Southern Generating
Station/CESC, West Bengal
Overhauling of boiler and auxiliaries 28.00
Kolaghat Thermal Power Station,
West Bengal
Overhauling of boiler pressure parts, non- pressure
parts, RLA support, vent condenser change, hanger
support checking, ESP overhauling, transformer oil-
filtration, other overhauling in switchyard of unit#6
140.00
Kolaghat Thermal Power Station,
West Bengal
Maintenance of switch yard 31.00
Kolaghat Thermal Power Station,
West Bengal
Maintenance and repairing work of boiler 30.00
Bakreswar Thermal Power Station,
West Bengal
Fabrication, erection, repairing and replacement of
different type of pipe line
40.00
Kolaghat Thermal Power Station,
West Bengal
Overhauling of electrostatic precipitator 6.00
Overhauling of boiler non-pressure parts 4.00
Overhauling of boiler pressure parts 70.00
Santaldih Thermal Power Station,
West Bengal
Overhauling of electrostatic precipitator 16.44
Date of execution of the projects is not provided to CRISIL
2 The list is not exhaustive
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ONGOING PROJECTS OF THE FIRM DURING 2013-14:
Name
and
location
of the
customer
Nature of
work
Percentage
of work
completed
Value
of the
project
(Rs.
Lakh)
Value of
work
completed
(Rs. Lakh)
Actual
amount
received
(Rs.
Lakh)
Start
date of
project
Estimated
completion
date of the
project
Sagardighi
Thermal
Power
Project,
West
Bengal
Maintenance
contract of
boiler and
its auxiliary
system, and
piecemeal
jobs
12.50 320.00 40.00 26.66 March
2013
February
2015
Sagardighi
Thermal
Power
Project,
West
Bengal
Electrical
maintenance
contract
under the
scope of
electrical-
OPH at
Sg.TPP
(2X300
MW)
Nil 156.00 Nil Nil June
2013
June 2015
Santaldih
Thermal
Power
Station,
West
Bengal
Annual
maintenance
contract for
attending
boiler tube
leakage and
allied works
of unit no.
5& 6 under
B&A Deptt.,
STPS.
75.00 33.50 27.00 15.00 May
2012
June 2013
Essar
Projects
India
Limited,
West
Bengal
Fabrication,
Erection,
field
welding and
hydro
testing of
IBR piping
of ammonia
plant for
Matix
Fertiliser
Project At
Durgapur
33.00 157.00 51.00 10.00 Decemb
er 2012
November
2013
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FUTURE PROJECTS OF THE FIRM
Name and location of the
customer
Nature of work Value (Rs.
Lakh)
Kolaghat Thermal Power
Station, West Bengal
Overhauling of boiler pressure parts, non-pressure
parts, ESP overhauling with collecting plate change,
transformer oil-filtration, other overhauling in
switchyard
350.00
Sagardighi Thermal Power
Project, West Bengal
Overhauling of boiler pressure parts, non-pressure parts
and annual maintenance of boiler tube leakage
300.00
Total 650.00
Note: The firm has bid for the aforementioned tenders; however, the result is yet to be declared.
Essar
Projects
India
Limited,
West
Bengal
Fabrication
of built up,
rolled, and
semi built-
up steel
structures
97.00 117.00 113.50 113.50 August
2011
September
2013
Santaldih
Thermal
Power
Station,
West
Bengal
Maintenance
of boiler
tube leakage
85.00 33.50 28.50 28.50 May
2012
June 2013
Total 861.00 231.50 165.00
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CUSTOMER PROFILE AND DEMAND-SIDE ANALYSIS
Customer name and location Services Length of
relationship
% share
in sales
Kolaghat Thermal Power Station,
West Bengal
EPC turnkey project 23 years Varies
annually
Bakreswar Thermal power Project,
West Bengal
11 years
Mahindra Ash Tech Limited, West
Bengal
Sagardighi Thermal Power Project,
West Bengal
8 years
McNally Bharat Engineering
Company Limited, West Bengal
Bendal Thermal Power Station, West
Bengal
7 years
5 years
McNally Sayaji Engineering Limited,
West Bengal
Uniseven Engineering and
Infrastructure Private Limited,
West Bengal
4 years
Essar Projects India Limited,
West Bengal
Santaldih Thermal Power Station,
West Bengal
West Bengal Power Development
Corporation Limited, West Bengal
Note: About 85 per cent of the revenues are derived from the power industry. Number of customers
varies annually depending upon the tenders bid.
Terms of credit : • Running payment: 40.00 per cent.
• After factory acceptance test: 50.00 per
cent.
• Retention money payable after 6 months of project completion: 10.00 per cent
Process of getting orders : 85.00 per cent of the orders are tender based
Exports : Nil
Marketing network : • The firm does not have a formal marketing
setup.
• Word-of-mouth publicity and references
form an integral part of the marketing setup.
Geographical reach : Limited to West Bengal
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SUPPLIER PROFILE AND SUPPLY-SIDE ANALYSIS
Supplier's / Wholesaler's name Product Length of relationship
Machinery and Tools India Limited Machinery spare parts,
Stainless Steel sheets, welding
accessories
11 years
Surekha Enterprises 11 years
Spares and Equipments Emporium 9 years
Terms of purchase : Advance payment and credit of 90 to 180
days
Material availability : Ample
Materials price volatility : High
Ability to pass on material price increases : No
Imports : Nil
Note: The firm receives extensions of upto six months on need basis from its regular suppliers.
SERVICE FACILITIES
Labour oriented operations : Yes
Labour union : No
Labour relationships : Cordial
CNC machines, CAD, CAM, automation : Yes (semi-automated process)
In-house R&D, designing facilities : Yes
Office layout : Spacious and well organised
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OWNERSHIP AND MANAGEMENT
PROPRIETORS’ PROFILE
Proprietor's name : Mr. Chandan Kumar Dey
Age : 53 years
Qualification : Postgraduate
Designation / responsibilities : Proprietor / Overall Management
Previous experience : Nil
Relevant experience : 23 years through the rated firm
Personal liquid net worth : Data not provided to CRISIL
Proprietor's residence address : Village Hirapur, Deriachawk, Purba
Medinipur – 721 151, West Bengal
Ownership of residence : Owned
Vehicles used : Hindustan Ambassador
KEY MANAGEMENT PERSONNEL
Name : Mr. Pritam Dey*
Age : 24 years
Qualification : BE (Mechanical)
Designation / responsibilities : Senior Manager / Overall management
Relevant experience : 3 years through the rated firm
*Nephew of Mr. Chandan Kumar Dey
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ORGANISATION STRUCTURE, CONTROLS, AND SYSTEMS
Proprietor : Mr. Chandan Kumar Dey
Constitution : Proprietorship
Second tier management : Qualified and experienced
Decision making powers : Decentralised
Reporting system or MIS : Yes
Type of reporting system : Computerised
Frequency of MIS / reporting : Daily
Litigations against the SME : None
Litigations against the promoters : None
Severity of litigations : Not applicable
Susceptibility to foreign exchange fluctuations : Not applicable
Hedging against foreign exchange risks : Not applicable
Susceptibility to commodity price fluctuations : Not applicable
Hedging against commodity prices : Not applicable
Asset insurance : Adequate
OWNERSHIP PATTERN
Not applicable
GROUP COMPANIES AND FIRMS
The firm does not have a group company or associate firm.
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FINANCIAL PROFILE
CURRENT FINANCIAL PERFORMANCE
Performance for the period 1-Apr-13 to 30-Apr-13
Net sales Rs. Lakh 83.55
PBT Rs. Lakh 9.19
PBT margin % 11.00
Current order book (date of execution is not provided to
CRISIL)
Rs. Lakh 861.00
Projected / estimated performance during 2013-14
Net sales Rs. Lakh Data not
provided to
CRISIL PBT Rs. Lakh
PBT margin %
16
PAST FINANCIAL PERFORMANCE
Performance during 2012-13
Net sales Rs. Lakh 1,156.05
PBT Rs. Lakh 116.94
PBT margin % 10.11
PROFIT AND LOSS ACCOUNT
For the year ended 2011-12 2010-11 2009-10
Audited Audited Audited
Number of months 12 12 12
Net sales Rs. Lakh 834.46 862.69 772.02
Operating income Rs. Lakh 919.46 862.69 795.64
Cost of sales Rs. Lakh 809.96 778.31 727.41
OPBDIT Rs. Lakh 109.50 84.38 68.23
Interest and finance costs Rs. Lakh 6.47 7.31 7.58
OPBDT Rs. Lakh 103.03 77.07 60.65
Depreciation Rs. Lakh 15.12 12.55 13.88
OPBT Rs. Lakh 87.91 64.52 46.77
Non-operating income / (expense) Rs. Lakh - - -
PBT Rs. Lakh 87.91 64.52 46.77
Extraordinary income / (expense) Rs. Lakh - - -
Reported PBT Rs. Lakh 87.91 64.52 46.77
Provision for taxes Rs. Lakh 26.38 18.77 13.53
Deferred tax liability / (asset) Rs. Lakh - - -
PAT Rs. Lakh 61.53 45.75 33.24
Drawings Rs. Lakh 5.22 0.40 14.52
Net cash accruals Rs. Lakh 71.43 57.90 32.60
Notes:
• Net sales for the year ended March 31, 2012 declined on account of variations in the value of
orders received from existing customers.
• Operating income for the year ended March 31, 2012 includes service tax refund of Rs.85.00
lakh.
• Interest and finance costs for the year ended March 31, 2012 pertain to interest on bank
borrowings of Rs.5.68 lakh and bank charges of Rs.0.79 lakh.
• Decline in interest and finance costs for the year ended March 31, 2012 is on account of
repayment of term loans.
• Depreciation is charged as per the provisions of the Income Tax Act of 1961.
• Increase in depreciation for the year ended March 31, 2012 is primarily on account of purchase
of plant and machinery.
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BALANCE SHEET
31-Mar-
2012
31-Mar-
2011
31-Mar-
2010
Audited Audited Audited
Liabilities
Capital Rs. Lakh 201.42 145.11 99.76
Deferred tax liabilities / (assets) Rs. Lakh - - -
Long-term debt Rs. Lakh 2.98 15.43 37.64
of which, current portion of long-term
debt
Rs. Lakh - - -
Short-term debt Rs. Lakh 79.22 33.38 33.49
of which, working capital borrowing
from banks
Rs. Lakh 79.22 33.38 33.49
Other liabilities and provisions Rs. Lakh 313.45 220.83 211.15
Total liabilities Rs. Lakh 597.07 414.76 382.04
Assets
Net fixed assets Rs. Lakh 120.93 101.90 80.00
Investments Rs. Lakh 59.65 52.99 47.11
Inventory Rs. Lakh - 59.59 53.15
Receivables (total) Rs. Lakh 261.60 91.38 105.81
of which, receivables greater than six
months
Rs. Lakh - - -
Cash and bank balance Rs. Lakh 15.64 2.18 17.50
Other current assets Rs. Lakh 139.25 106.72 78.47
Total assets Rs. Lakh 597.07 414.76 382.04
Notes:
• Long-term debt as on March 31, 2012 pertains to term loan availed from Central Bank of India.
The same has been repaid entirely during 2012-13.
• Short-term debt as on March 31, 2012 pertains to cash credit availed from United Bank of India.
• Other liabilities and provisions as on March 31, 2012 comprises of creditors for goods of
Rs.206.39 lakh, other current liabilities of Rs.42.06 lakh, and other provisions of Rs.65.00 lakh.
• Increase in net fixed assets as on March 31, 2012 is primarily on account of purchase of plant
and machinery.
• Investments as on March 31, 2012 comprise investment in insurance policy of Rs.25.53 lakh
and fixed deposits of Rs.34.12 lakh.
• Other current assets as on March 31, 2012 comprise security deposits of Rs.62.18 lakh, other
deposits of Rs.7.20 lakh, other receivables of Rs.47.88 lakh, and advance tax of Rs.21.99 lakh.
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KEY FINANCIAL RATIOS
For the year ended / as at 31-Mar-2012 31-Mar-2011 31-Mar-2010
Audited Audited Audited
OPBDIT margin % 11.91 9.78 8.58
PAT margin % 6.69 5.30 4.18
Return on capital employed % 39.53 39.38 63.61
Gross current assets days 157 105 112
Days inventory (on COP) Days - 28 27
Days receivable (on gross sales) days 114 39 50
Days payable (on materials) days 532 338 311
Current ratio Times 1.15 1.14 1.15
PBDIT Interest cover Times 16.92 11.54 9.01
Net cash accruals/Total debt % 86.90 118.62 45.83
Debt service coverage ratio Times 10.37 9.14 5.78
Average cost of borrowing % 9.88 12.19 21.30
Total outside liabilities/Capital Times 1.96 1.86 2.83
Gearing - Total debt/Capital Times 0.41 0.34 0.71
Gearing (not including promoter loans
as debt)
Times 0.41 0.34 0.71
NM – Not meaningful
Notes:
• Increase in OPBDIT margin during 2011-12 and 2010-11 is primarily on account of decline in
employee costs as a per cent to sales. The same is on account of variations in the number of
contractual employees.
• Average inventory holding period is 30 days.
• Receivables are in line with the credit terms of the firm during the past three financial years
(refers to 2011-12, 2010-11, and 2009-10).
• Payables during the past three financial years (refers to 2011-12, 2010-11, and 2009-10) appears
stretched. The firm gets a credit term of about three months, which extends upto six months on
need basis as the firm has established relation of about 11 years with its major suppliers. Also,
there have been delays in receivables, which have had an effect on payables.
• Average cash credit utilisation is about 60 per cent.
• Average cost of borrowing during 2011-12 is low primarily on account of high year-end cash
credit balance maintained by the firm.
• Average cost of borrowing during 2009-10 is high on account of increased debt obligation.
19
FUND FLOW STATEMENT
For the year ended 31-Mar-2012 31-Mar-2011
Sources of funds
Net cash accruals Rs. Lakh 71.43 57.90
Equity infusion / Share application money Rs. Lakh - -
Long-term debt borrowed (net) Rs. Lakh - -
Short-term debt borrowed (net) Rs. Lakh 45.84 -
Decrease in net current assets Rs. Lakh - 1.84
Sale of investments / fixed assets Rs. Lakh - -
Other sources Rs. Lakh - -
Total sources of funds Rs. Lakh 117.27 59.74
Uses of funds
Investment and fixed assets purchased Rs. Lakh 37.06 37.42
Decrease in tangible net worth Rs. Lakh - -
Long-term debt repaid (net) Rs. Lakh 12.46 22.21
Short-term debt repaid (net) Rs. Lakh - 0.11
Increase in net current assets Rs. Lakh 67.75 -
Other uses Rs. Lakh - -
Total uses of funds Rs. Lakh 117.27 59.74
Notes:
• Investment and fixed assets as on March 31, 2012 pertain to purchase of plant and machinery.
• Increase in net current assets as on March 31, 2012 is primarily on account of increase in
receivables.
CONTINGENT LIABILITIES
Contingent liabilities as on March 31, 2012: Nil
AUDITORS
S Manna and Company, Chartered Accountants
2nd
floor, New Market Complex, Durgachak
Haldia – 721 602, West Bengal
Auditors' comments and observations in their audit report for 2011-12, 2010-11, and 2009-10:
No adverse comments
Change in auditors, if any: None
20
GRAPHS
21
BANKING FACILITIES
Name and location of
the bank
Length of
relationship
Facilities
availed
Type of facility Loan amount
(sanctioned)
Rate
(%)
United Bank of India
Limited, Mechdeda,
Purba Medinipur, West
Bengal
17 years
Cash credit Fund-based limit Rs.100.00 lakh 13.50
Feedback: The performance of the account is good. CRISIL has received written feedback from the
bank.
22
SITE VISIT (as per previous rating report)
Address of the site visited : Village Hirapur, Deriachawk
Purba Medinipur – 721 151, West Bengal
Date of site visit : June 13, 2012
No. of floors occupied : Two
Size of premises : 700 square feet
Number of employees at the location : 9 (at the time of visit)
Child labour at the site : No
Locality : Commercial and residential
Location area : Urban
Site location : Side lanes
Site used as : Administrative office
Sales office
Site layout : Spacious and well organised
Space around the building /
structure
: Front porch
State of infrastructure : • Power: Stable
• Backup power: Available
• Water: Available
• Labour unions: Do not exist
• Transportation: Easily available
• Overall infrastructure: Satisfactory
Building structure : Permanent structure
Ownership of premises : Rented
Sharing premises with group firm : No
Facilities available at the site : • Telephone
• Internet
• Fax
• Generator
• Name or sign board
• Fire extinguisher
• Drinking water
• Transport arrangement
• Boundary wall
• Drainage and sewerage
CRISIL SME Ratings Contacts Head Office CRISIL House Central Avenue Hiranandani Business Park Powai, Mumbai 400 076 Tel: +91 22 3342 3000 / 8400 Fax: +91 22 3342 3757 Contact: Mr. Avinash Gidwani E-mail: [email protected] Mr. Sujit Agrawal E-mail: [email protected]
Pune 1187/17, Ghole Road Shivaji Nagar Pune 411 005 Tel: +91 20 4018 1900 Fax: +91 20 4018 1930 Contact: Mr. Prashant Borole E-mail: [email protected] Mr. Rahul Prasad E-mail: [email protected] Mr. Uday Revankar E-mail: [email protected] Mr. Rahul Nigam E-mail: [email protected] Mr. Shriganesh Pardhi E-mail: [email protected]
Ahmedabad 706, 7th Floor, Venus Atlantis Vejalpur, Near Reliance Petrol Pump Anandnagar to Prahladnagar Road Satellite, Ahmedabad 380 015 Tel: +91 79 4024 4500 Fax: +91 79 4024 4520 Contact: Mr. Arunraj Rajmohan E-mail: [email protected]
Gurgaon Plot no: 46, Sector : 44 Opposite Provident Fund Office Gurgaon, Haryana : 122 003 Tel: +91 124 672 2402 Fax: +91 124 672 2001 Contact: Mr. Abhik Sen E-mail: [email protected] Mr. Kunal Raman E-mail: [email protected] Mr. Tejendra Kushwaha E-mail: [email protected]
Kolkata HORIZON, 4th Floor, Block B 57, Chowringhee Road Kolkata 700 071 Tel: +91 33 2289 1949/4011 8200 Fax: +91 33 2283 0597 Contact: Mr. Sambit Das E-mail: [email protected] Ms. Jhumur Chowdhury E-mail: [email protected] Mr. Abhipshit Datta E-mail: [email protected]
Chennai Thapar House, Mezzanine Floor 43/44, Montieth Road, Egmore Chennai 600 008 Tel : +91 44 6616 3100 Fax: +91 44 2854 7531 Contact: Mr. B. Venugopal E-mail: [email protected] Mr. Harikrishnan A E-mail: [email protected]
Bengaluru W 101, Sunrise Chambers 22, Ulsoor Road, Bengaluru 560 042 Tel: +91 80 2558 0899 Fax: +91 80 2559 4801 Contact: Mr. Sudhir Narayan E-mail: [email protected] Mr. Ravikiran Apte E-mail: [email protected]
Hubli Unit No. 53 and 54 2nd floor, Eureka Junction Above Hubli Scan Centre, Opp. Revankar Comfort T.B. Road, Hubli 580 029 Tel: +91 836 2256 777 Mr. Kashiraya Kadaganchi E-mail: [email protected]
Hyderabad 3rd Floor, Uma Chamber Plot no 9 & 10, Nagarjuna Hills, Punjagutta, X Road Hyderabad 500 082 Tel: +91 40 2335 8103/05 Fax: +91 40 2335 7507 Contact: Mr. Mansur Basha E-mail: [email protected] Mr. Rahul Deshpande E-mail: [email protected]
Coimbatore New No. 750-7, Old No. 1055-6 1st Floor, Gowtham Centre Opp. Nilgiri Nest, Avinashi Road Coimbatore 641 018 Tel: +91 422 224 4559 Contact: Mr. Abraham L E-mail: [email protected]
Surat 811, 8th Floor, Rajhans Complex Opp. J K Tower, Ring Road Surat 395 002 Tel: +91 261 400 2230 Contact: Mr Devesh Kemkar E-mail: [email protected]
Nashik 1, Deep Aarti Apartments Opp. Bohora Park, Gangapur Road Nasik 422 002 Contact: Mr. Pratik Shukla E-mail : [email protected]
Jaipur C/14/13, 1st Floor, Shopping Centre Swarn Path Mansarovar, Jaipur 302 020 Phone: +91 141 302 1688/81 Contact: Mr. Vikas Banthia E-mail: [email protected] Jamshedpur Office No 7 Meghdeep Building, 2nd Floor “Q” Road, Bistupur, P.S. Bistupur Jamshedpur, Singhbhum (East) Jharkhand 831 001
Phone: +91 657 654 5958
Mr. Abhishek Kumar
E-mail: [email protected]
Raipur 323, 3rd Floor, Crystal Arcade Lodipara Chowk, Shankar Nagar Road Raipur 492 001 Tel: +91 771 409 9997 Contact: Mr. Yash Naidu E-mail: [email protected] Indore Office No 160, 1st Floor , Orbit Maill, A. B. Road , Indore 452 010 Tel: +91 731 3931386 Contact: Mr Devesh Kemkar E-mail: [email protected] Ludhiana Sai Tower 202, Industrial Area Ludhiana 141 003 Tel: +91 161 501 1575 Contact: Mr. Munish Dhawan E-mail: [email protected] Mr. Abhinandan Sharda E-mail: [email protected] Mr. Sudhir Rana E-mail: [email protected] Mr. Manoj Sharma E-mail: [email protected] Kochi 40/2908, F-14, 4th Floor Penta Menaka, Marine Drive Kochi 682 031 Phone +91 484 237 3337 Contact: Mr. Martin George Email: [email protected] Vadodara 509, Centre Point, R.C.Dutt Road Alkapuri, Vadodara 390 007 Tel: +91 265 3025 946 Contact: Mr. Prashant Menon E-mail: [email protected] Visakhapatnam Cabin No.S-5, Vishaka Business Centre, 46-19-5, Manda Vari Street, Dondaparthy, Visakhapatnam 530 016 Tel: +91 891 6661 770 Contact: Mr. Kanuparthy Vamsi E-mail: [email protected]
