MIRA
INFORM REPORT
|
Report Date : |
03.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
AUTO TECH COMPONENTS PRIVATE LIMITED |
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Registered Office : |
N-100
D, Connaught Place, New Delhi - 110001 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
31.08.1999 |
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Com. Reg. No.: |
55-101361 |
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CIN No.: [Company
Identification No.] |
U24300DL1999PTC101361 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKA01546G
/ RTKA02401A |
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PAN No.: [Permanent
Account No.] |
AACCA8917D |
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Legal Form : |
Private
Limited Liability Company. |
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Line of Business : |
Manufacturers and Exporters of Precision Turned Components Machined Components, Auto Parts, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
N-100
D, Connaught Place, New Delhi – 110001, India |
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Mobile No.: |
91-9810411442 |
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Factory
1 : |
Plot No. 145, Sector 3, IMT
Manesar, Gurgaon, Haryana |
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Tel.
No.: |
91-124-4369345, 4369346,
4369347 |
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Fax
No.: |
91-124-4369348, 2210301 |
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E-Mail
: |
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Location : |
Industrial
– Owned |
DIRECTORS
|
Name : |
Mr.
Sandeep Kumar |
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Designation : |
Director |
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Address : |
293,
Sector 7, Urban Estate, Gurgaon - 122 001, Haryana |
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Date of Birth/Age : |
22/07/1976 |
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Date of Appointment : |
15/03/2001 |
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Name : |
Mr.
Pradeep Kumar |
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Designation : |
Director |
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Address : |
293,
Sector 7, Urban Estate, Gurgaon - 122 001, Haryana |
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Date of Birth/Age : |
11/11/1972 |
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Date of Appointment : |
15/03/2001 |
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Name : |
Ms.
Deepti Kumar |
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Designation : |
Director |
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Address : |
293,
Sector 7, Urban Estate, Gurgaon - 122 001, Haryana |
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Date of Appointment : |
15/03/2001 |
KEY EXECUTIVES
|
Name
: |
L
Kumar & Associates |
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Designation
: |
Company
Secretary |
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Address
: |
212
L/A, New Colony, Gurgaon-122 001, Haryana |
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Tel No. : |
91-124-4070991 |
| E
Mail : |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr S S
Batra |
4,300 |
3.92 % |
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Mr
Davinder Jain |
5,000 |
4.56 % |
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Ms
Seema Gupta |
1,800 |
1.64 % |
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Mr
Satish Kumar Sharma |
1,800 |
1.64 % |
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Mr
Gain Chand Jain |
1,500 |
1.37 % |
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Mr
Rakesh Chawla |
1,500 |
1.37 % |
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Mr
Bharat Bhushan |
1,600 |
1.46 % |
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Mr
Laxmi Aggarwal |
2,000 |
1.82 % |
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Ms
Nisha Bansal |
2,000 |
1.82 % |
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Mr
Ajay Mittal |
1,200 |
1.09 % |
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Mr
Manoj Bansal |
1,600 |
1.46 % |
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Mr
Kesho Ram |
1,500 |
1.37 % |
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Mr
Satish Jain |
1,600 |
1.46 % |
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Mr
Subhash Chand Gupta |
1,600 |
1.46 % |
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Mr
Rajiv Aggarwal |
2,000 |
1.82 % |
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Mr
Pawan Kumar Changia |
2,000 |
1.82 % |
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Ms
Baleshwari Devi |
1,800 |
1.64 % |
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Mr
Bhim Singh |
1,800 |
1.64 % |
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Mr
Parveen Chawal |
1,500 |
1.37 % |
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Forerunner
Capital Investments Limited |
21,500 |
19.62 % |
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Mr
Sandeep Kumar |
30,000 |
27.37 % |
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Ms
Deepti Kumar |
20,000 |
18.25 % |
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Total |
109,600 |
100.00 % |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Precision Turned Components Machined Components, Auto Parts, etc. |
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Products : |
Ø Precision Turned Components Ø Machined Components Ø Tubular Parts Ø Sheet Metal Components Ø Auto Parts Ø Copy Turning Ø Pipe Flaring Ø Pipe Bending Components Ø Double End Boring Ø Fabricated Components |
PRODUCTION
STATUS
|
Particulars |
Unit |
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Actual Production |
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31.03.2005 |
31.03.2004 |
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Auto Parts |
Pieces |
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15,999,202 |
8,979,915 |
GENERAL
INFORMATION
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No. of Employees : |
65 |
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Bankers : |
Ø Indian Bank, GA 4, 5, 7, 8,
Ground Floor, Raheja Square, IMT, Manesar Branch, Gurgaon 122 050 Ø Canara Bank Ø ICICI Bank Limited |
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Facilities : |
Term Loan: Rs. 5.8 millions and Secured OD Limit: Rs. 4.0 millions from Indian Bank, Manesar Branch, Gurgaon as per hypothecation agreement dated June 26, 2006. It is secured by way of Equitable Mortgage of Property situated at Plot No. 145, Sector 3, IMT Manesar, Gurgaon together with land and building, stock in trade, book debts, plant & machinery. |
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Banking Relations : |
Satisfactory
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Auditors : |
A B Sanwalka & Company Chartered Accountants 38/2079, 2nd Floor,
Karol Bagh, New Delhi-110005 |
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Mobile No.: |
91-9810105413 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
150,000 |
Equity
Shares |
Rs.10/- each |
Rs. 1.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
109,600 |
Equity
Shares |
Rs.10/- each |
Rs. 1.096 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
1.218 |
1.218 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
1.648 |
1.173 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
2.866 |
2.391 |
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LOAN FUNDS |
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1] Secured Loans |
|
7.754 |
1.614 |
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2] Unsecured Loans |
|
0.871 |
0.938 |
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TOTAL BORROWING |
|
8.625 |
2.552 |
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DEFERRED TAX LIABILITIES |
|
0.645 |
0.310 |
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TOTAL |
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12.136 |
5.253 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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11.160 |
4.572 |
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Capital work-in-progress |
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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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0.854 |
0.566 |
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Sundry Debtors |
|
5.913 |
4.275 |
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Cash & Bank Balances |
|
0.207 |
0.022 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.344 |
0.502 |
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Total Current Assets |
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7.318 |
5.365 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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6.354 |
4.697 |
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Provisions |
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Total Current Liabilities |
|
6.354 |
4.697 |
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Net Current Assets |
|
0.964 |
0.668 |
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MISCELLANEOUS EXPENSES |
|
0.012 |
0.013 |
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TOTAL |
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12.136 |
5.253 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
35.239 |
19.403 |
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Profit/(Loss)
Before Tax |
|
1.262 |
0.979 |
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Provision
for Taxation |
|
0.787 |
0.351 |
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Profit/(Loss)
After Tax |
|
0.475 |
0.628 |
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Total
Expenditure |
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33.192 |
18.192 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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PAT /
Total Income |
|
1.35 |
3.24 |
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Net
Profit Margin |
|
3.58 |
5.05 |
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Return
on Total Assets |
|
2.57 |
6.31 |
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Return
on Investment (ROI) |
|
16.57 |
26.27 |
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Current
Ratio |
|
1.15 |
1.14 |
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Quick
Ratio |
|
1.02 |
1.02 |
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Debt
Equity Ratio |
|
3.01 |
1.07 |
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Current
Liabilities/Networth |
|
2.22 |
1.96 |
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Fixed
Asset / Networth |
|
3.89 |
1.91 |
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Average
Collection Days |
|
61.25 |
80.42 |
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Account
Receivables Turnover |
|
5.96 |
4.54 |
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Inventory
Turnover |
|
41.26 |
34.28 |
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Asset
Turnover |
|
3.16 |
4.24 |
LOCAL AGENCY
FURTHER INFORMATION
Incorporated
on 31/08/1999 the subject is engaged in the business of Manufacturers and
Exporters of Precision Turned Components Machined Components Auto Parts
Quality Assessment
ISO 900 Certified Company
With
pro-active client service, on time delivery schedules and commitment to
quality, "Autotech Components
(Private) Limited ", have established their selves as one
of the most authentic manufacturers and exporters of Precision Turned Components, Machined Components,
Tubular Parts, Sheet Metal Components, Auto Parts, OEM Suppliers, Copy Turning,
Pipe Flaring, Pipe Bending Components Manufacturer, Double End Boring and
Fabricated Components. Adhering to the philosophy of leadership
in excellence, their products have made inroads in the international markets
and today, they are exporting their products to almost every corner of the
world. Their cost down production operations enable us to offer products at
industry leading prices to their customers. Their uncompromising endeavor
toward customer satisfaction and quality has helped us to elevate their
standards of excellence. They constantly invest in the technological
up-gradation to remain abreast of changing trends of market and technology.
Quality
Quality has been the
success mantra for us. They believe in well-defined quality parameters and
adopt strict quality control norms which conform to both the national and
international standards. Their team of experts closely monitor each and every
process of manufacturing, from the procurement of the raw materials to the
packaging of the finished products. Their research and development department
is always in a constant search of new and innovative products.
Infrastructure
Ø
State
of the art infrastructure coupled with cutting edge technology
Ø
A
pool of dedicated, astute and dexterous technocrats, business oriented
professionals, proficient marketing personnel and diligent workers
Ø
In-house
manufacturing unit complacent with ultra modern machineries, which work at a
low cost and high efficiency parameters
Ø
Modern
and spacious warehouse having the capability to store large volume of orders
Ø
Wide
distribution network and excellent transport facilities ensuring the customers
of prompt delivery.
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Company Profile |
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Business Type |
Exporter ,
Manufacturer |
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Export Percentage |
20% |
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No of Staff |
65 |
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Year of
Establishment |
2001 |
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Investment on
Manufacturing Equipment |
Rs. 6 Million |
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OEM Service
Provided |
Yes |
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No of Engineers |
5-7 |
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.84 |
|
UK
Pound |
1 |
Rs.85.55 |
|
Euro |
1 |
Rs.57.28 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|