MIRA
INFORM REPORT
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Report Date : |
17th June 2006 |
IDENTIFICATION
DETAILS
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Name : |
APROTECH ENGINEERS PRIVATE LIMITED |
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Registered Office : |
1573, Sector 7E, Faridabad-121006, Haryana, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
27.03.1984 |
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Com. Reg. No.: |
05-17794 |
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CIN No.: [Company Identification No.] |
U31300HR1984PTC017794 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Designing and manufacturing of conveyors,
elevators, packing machine and other related accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small and unknown company. Financial position is
moderate. Payments are unknown. The company can be considered for small business dealings on safe
and secured trade terms and conditions.
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LOCATIONS
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Registered Office : |
1573, Sector 7E, Faridabad-121006, Haryana, India |
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Tel. No.: |
91-129-4064731 / 2242140 / 2244726 |
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Fax No.: |
91-129-4064731 |
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E-Mail : |
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Website : |
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DIRECTORS
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Name : |
Mrs. Usha Jain |
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Designation : |
Director |
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Address : |
1573, Sector 7E, Faridabad-121006, Haryana, India |
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Date of Birth/Age : |
19.07.1950 |
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Date of Appointment : |
27.03.1984 |
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Name : |
Ms. Swarnangini Jain |
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Designation : |
Director |
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Date of Birth/Age : |
24.06.1972 |
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Date of Appointment : |
15.08.1994 |
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Name : |
Ms. Hemangini Jain |
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Designation : |
Director |
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Date of Birth/Age : |
17.05.1974 |
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Date of Appointment : |
16.08.1993 |
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Name : |
Mr. Vinay Kumar |
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Designation : |
Director |
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Date of Birth/Age : |
08.09.1945 |
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Date of Appointment : |
28.09.1999 |
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MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mrs. Usha Jain |
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1360 |
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Mr. Pramod Jain |
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110 |
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Mr. Anand Jain |
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261 |
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Mrs. Usha Jain |
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1935 |
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Mrs. Summi Jain |
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714 |
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Vibore Jain |
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344 |
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Ms. Nidhi Jain |
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732 |
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V. K. Jain |
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3900 |
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Ms. Swarnangini Jain |
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2435 |
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Ms. Hemangini Jain |
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2305 |
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Ms. Anula Jain |
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100 |
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Mr. Dipesh Jain |
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100 |
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Mr. S K Jain |
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200 |
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Mrs. Saroj Jain |
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200 |
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Mitesh Jain |
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100 |
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BUSINESS DETAILS
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Line of Business : |
Designing and manufacturing of conveyors,
elevators, packing machine and other related accessories. |
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GENERAL
INFORMATION
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Customers : |
v Birla Industries :
Fly Ash v OCL India Limited :
Refractory Mortar, Lime Powder, Iron Ore v National Thermal
Power Corporation: Fly Ash v IFFCO: Fly Ash v Arun Colour
Chemical: Edible Colour Powder v Cimmco Birla Limited
: Cement v SRGP-FOCO (Indo -
French joint venture) :Multi-Component Batching v Roofit Industries
Limited.: Cement Plaster Mix v Mafatlal: Aluminium
Fluoride v Golcha Group:
Talcum Powder v Nagaland Mineral
Development Corporation :Cement v TAIKO (Indo - Malaysian
joint venture): Bleaching Earth v Hungshan TAIKO,
China:Bleaching Earth v Sri Chakra Cements Limited .:Cement v Surya Colours Private Limited. :Lime Powder v Vinay Cements
Limited.: Cement |
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No. of Employees : |
7 |
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Bankers : |
v
SBI Bank v
UTI Bank Limited |
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Banking Relations : |
Unknown |
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Auditors : |
Kumar Vijay Gupta and Company Chartered Accountants 1F-34-35, B. P.N.I. T., Faridabad |
CAPITAL
STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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13796 |
Equity Shares |
Rs. 100/- each |
Rs. 1.380 millions |
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Shares Application Money |
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Rs. 0.329 millions |
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Total |
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Rs. 0.107 millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.709 |
1.709 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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(0.586) |
(0.468) |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.123 |
1.241 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.677 |
0.627 |
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TOTAL BORROWING |
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0.677 |
0.627 |
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DEFERRED TAX LIABILITIES |
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0.013 |
0.015 |
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TOTAL |
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1.813 |
1.883 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net
Block] |
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0.534 |
0.541 |
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Capital
work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS
& ADVANCES |
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Inventories |
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0.348 |
0.343 |
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Sundry Debtors |
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0.702 |
0.632 |
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Cash & Bank
Balances |
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0.335 |
0.553 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.997 |
1.781 |
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Total Current Assets |
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3.382 |
3.309 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.103 |
1.967 |
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Provisions |
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Total Current Liabilities |
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2.103 |
1.967 |
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Net
Current Assets |
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1.279 |
1.342 |
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MISCELLANEOUS
EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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1.813 |
1.883 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover
[including other income] |
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1.002 |
0.872 |
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Profit/(Loss) Before Tax |
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(0.052) |
(0.240) |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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(0.052) |
(0.240) |
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Total Expenditure |
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1.054 |
1.112 |
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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(5.19) |
(27.52) |
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Net Profit Margin (PBT/Sales) |
(%) |
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(5.19) |
(27.52) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(1.33) |
(6.23) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.05) |
(0.19) |
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Debt Equity Ratio (Total Liability/Networth) |
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2.48 |
2.09 |
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Current Ratio (Current Asset/Current Liability) |
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1.61 |
1.68 |
LOCAL
AGENCY FURTHER INFORMATION
Fixed Assets
v Land
v
Building
v
Plant and Machinery
v
Electrical installation
v
Water Supply Equipments
v
Vehicles
v
Furniture and fixture
v
Scooter
v
Computer
v
Fax
v
Office Equipments
v
Air Conditioner
v
Fan
Working and Prospect
The company’s Financial Period under review is the 21st
Year. the company suffered losses during the year, however directors are
expected for better results in the current year.
As per website :
Introduction
Aprotech Engineers Pvt. Ltd. offers
you high quality and accurate packaging solutions. AEPL is a total
solutions outlet and pioneer in the field of setting up Mini Cement
Plants and Bulk Packaging units. AEPL
offers complete packaging solutions under one
roof which include designing and manufacturing of
conveyors, elevators, packing machine and other
related accessories.
As leader in
sack filling and handling, Aprotech Engineers Pvt.
Ltd. (AEPL) have played a big role in
speeding up packaging lines. They offer the widest range of equipments for
every type of open mouth and valve
sack filling. AEPL is a total solutions outlet
and pioneer in the field of setting up Mini Cement Plants
and Bulk Packaging units. AEPL offers
complete packaging solutions under one roof which
include designing and manufacturing of conveyors,
elevators, packing machine and other related
accessories.
Aprotech Engineers Pvt. Ltd. was
founded in 1984 by Mr. V.K. Jain, who is B.E. (Mechanical
Engineering) 1967 from Roorkee, M.Tech. (Design Engineering) 1969 from I.I.T.
having over 25 years of experience in
research, design, consultancy, manufacturing, erection
& commissioning of which ten years with Cement Research
Institute of India (now National Council
for Cement and Building Materials) in research and development.
AEPL was awarded UDYOG RATNA for
their efforts in research and development by Government of INDIA.
The company is moving ahead with the technology & is operating in a developing economic environment and has acquired a built in flexibility after visiting Mini Cement Plants in China, Bhutan, Russia, Nepal and Mongolia to adjust itself to changing needs of market.
Automatic Packing Machines
SALIENT FEATURES
- Weighing capacities from 50
g to 100 kg.
- High weighing accuracy of
0.5% of the weighing capacity of the machine.
- Easy adjustment of weighing
correction.
- Compact and sophisticated
Control panel.
Height of machine is approximately 1.5 meters. ." - Approved and stamped
by Department of Legal Metrology.
- Prompt and reliable after-
sales -service.
- Easy availability of spare
parts.
Automatic Packing Machines
MODEL
APPLICATION
VF
Sugar,
Tea, PVC Granules, Colour Chemicals, Grains
SF
Detergent,
Flour, Salt, Powders, Chemicals
BF
Fertilizers,
Asbestos, Non free flowing chemicals
GF
Rice,
Pulses, Grains, Iron Fines
DF
Cement,
Bleaching Earth, Fly Ash, Hydrated Lime, Talcum Powder, Carbon Black
MCB
Multi
Component Batching
Quality policy
- Regular & periodic
checks have been incorporated at various stages during production to
ensure that the quality products are rolled out. They aim to deliver
quality by way of meeting customer specifications.
- All machines are subject to
final testing at their works under as much realistic conditions of
operation as possible. This ensures trouble free installation at
customers place under minimal guidance.
- All machines are approved
and stamped by Department of Legal Metrology before delivery from
their works.
Advantages
WEIGH FILLING OVER VOLUMETRIC
FORM-FILL-SEAL (VFFS) PACKING
·
Accurate : Material filled by weight in APROTECH Weigh Filling
Machines while FFS machines fill material by volume.
- Versatile : APROTECH machines can be used for a
very wide range of packing weight ( min : max 1 : 5 ). Same model
can be used to pack from 1 kg up to 5 kg and any weight in between.
Microprocessor based controller facilitates setting the desired
weight almost instantaneously.
·
Multiple Applications : Since machine works on weigh filling principle,
it can be used to pack multiple products irrespective of the grain size. In
volumetric filling if the grain sizes are different, they create a limitation
as volume of cup used for approximation is fixed.
·
Hassle Free Operation : Different products have different flow
characteristics. APROTECH machines have different
designs for different product as per their flow properties.
VALVE TYPE BAG OVER OPEN MOUTH
BAG
For products with non uniform flow characteristics or products
which are hygroscopic in nature, it overcome the resistance offered by product
and gives high and uninterrupted output. For some aggressive materials
which are dusty and unhygienic valve bag filling is the only solution.
- Valve type bag does not require
stitching or sealing. It closes automatically, once the material is
filled. This results in heavy cost saving.
- Filling in valve type bags
as compared to open mouth bags makes it possible to pack certain
difficult-to-handle products such as cement, earth, talcum, carbon black,
flyash etc.
IMPELLER FILLING OVER PNEUMATIC
FILLING
- The impeller exerts
additional pressure to force the material into the Bag. For products with
non uniform flow characteristics or products which are hygroscopic in
nature, it overcome the resistance offered by product and gives high and
uninterrupted output. Pneumatic pressure in tough flow conditions is not
always sufficient thus resulting in lower outputs variation in weight and
reduced output.
- Bigger compressor is
required in pneumatic filling thus resulting in high power consumption and
increased investment and maintenance cost of compressor.
- Output achieved from impeller
based machine is almost 50 % higher than pneumatic machine.
- APROTECH machines are installed in
India, China, Nepal, Mongolia and Bangladesh.
- APROTECH machines are presently
being used for packing Cement, Fly Ash, Cement Paint, Bleaching Earth,
Fertilizer, Rice, Hydrated Lime, Iron Fines, Colour Chemicals, Liquid
Chemical, Cereal Food, Talcum Powder, Insecticides.
|
Name of the company |
APROTECH ENGINEERS PRIVATE LIMITED |
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Presented By |
Mr.
A. K. Jain (Director) |
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1) Date and description of instrument creating the change |
Agreement for equitable mortgage of land and hypothecation deed dated 27.02.1988 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Land, Building, Plant and Machinery (as mentioned in schedule to hypothecation deed.) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 15.5 % being 6.5 % p.a. above the IDBI Rate with a rebate of 3 % p.a. Repayable in instalment of Rs. 0.060 millions each |
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5) Name and Address and description of the person entitled to the charge. |
Uttar Pradesh Financial
Corporation 14/88 Civil Lines Kanpur. |
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6) Date and brief description of instrument modifying the charge |
Nil |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Nil |
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 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 46.01 |
|
UK Pound |
1 |
Rs. 84.93 |
|
Euro |
1 |
Rs. 58.30 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
TOTAL |
|
21 |
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 |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
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 |