MIRA INFORM REPORT
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Report Date : |
09.04.2007 |
IDENTIFICATION DETAILS
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Name : |
ALLAN INDUSTRIAL PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
71 Esplanade Mansion, 144 M G Road, Kalaghoda, Fort, Mumbai – 400023,
Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2005 |
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Date of
Incorporation : |
29.08.2000 |
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Com. Reg. No.: |
11-128478 |
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CIN No.: [Company
Identification No.] |
U72100MH2000PTC128478 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
MUMA15976C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Company is engaged in Mining and Agglomeration of Hard Coal |
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 1000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company. Directors are
reported as experienced and respectable businessmen. Trade relations are reported
as fair. Business is active. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered
Office : |
71 Esplanade Mansion, 144 M G Road, Kalaghoda, Fort, Mumbai – 400023 |
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Tel. No.: |
91-22-2891473 |
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Head Office : |
Bizz Link, East High Court Road, Ramdaspeth, Nagpur – 440010,
Maharashtra |
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Tel. No.: |
91-712-3260303/2550707 |
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Mobile |
91-9325106688 |
DIRECTORS
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Name : |
Mr. Khan Habib Ayyub |
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Designation : |
Director |
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Address : |
Plot No. 12, Bidipeth Nagpur, Nagpur |
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Date of
Birth/Age : |
01.07.1966 |
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Date of
Appointment : |
23.12.2002 |
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Name : |
Mr. Sushil Agarwal |
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Designation : |
Director |
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Address : |
A – 128, Aakar Nagar, Katol Road, Nagpur |
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Date of
Birth/Age : |
06.09.1972 |
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Date of
Appointment : |
12.03.2003 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
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Mr. Joshi V Sudesh |
10 |
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Mr. Mehta V Ajay |
10 |
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Mr. Chourasia D Muralidhar |
4900 |
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Mr. Pathak G Dwarka |
4900 |
BUSINESS DETAILS
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Line of Business
: |
Company is engaged in Mining and Agglomeration of Hard Coal |
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Products : |
v Coal v Marble |
GENERAL INFORMATION
|
Suppliers : |
v Linkson Coal
& Minerals Private Limited v Linkson Marble
& Granite Private Limited v Linkson Leasing
Limited v Ideal Carbon
Private Limited v Vaibhav
Industrial v Preeti Coal
& Coke, Nagpur |
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Bankers : |
v Vijaya Bank v Lakshmi Vilas
Bank Limited |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
Chandak & Karira Chartered Accountant |
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Address : |
SS/203, Swami Samarth Complex, Gokulpeth, Nagpur-440010, Maharashtara,
India |
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Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.163 |
0.070 |
0.047 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.263 |
0.170 |
0.147 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.263 |
0.170 |
0.147 |
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APPLICATION OF
FUNDS |
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FIXED ASSETS [Net
Block] |
0.000 |
0.000 |
0.000 |
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Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX
ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS,
LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
16.883 |
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Sundry Debtors |
0.000
|
17.449 |
14.635 |
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Cash & Bank
Balances |
0.000
|
0.630 |
0.082 |
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Other Current
Assets |
0.000
|
0.021 |
0.021 |
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Loans &
Advances |
46.530
|
8.952 |
8.432 |
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Total Current Assets |
46.530
|
27.052 |
40.053 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current
Liabilities & Provisions |
46.267
|
26.892 |
39.923 |
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Total Current Liabilities |
46.267
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26.892 |
39.923 |
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Net
Current Assets |
0.263
|
0.160 |
0.130 |
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MISCELLANEOUS
EXPENSES |
0.000 |
0.010 |
0.017 |
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TOTAL |
0.263 |
0.170 |
0.147 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Total Income |
268.209 |
145.015 |
137.638 |
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Profit/(Loss) Before Tax |
0.142 |
0.036 |
0.039 |
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Provision for Taxation |
0.050 |
0.012 |
0.014 |
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Profit/(Loss) After Tax |
0.092 |
0.023 |
0.025 |
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Expenditures : |
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Cost of Goods Sold |
266.956 |
143.940 |
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Administrative Expenses |
1.090 |
0.910 |
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Managerial Remuneration |
0.000 |
0.120 |
137.602 |
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Financial Expenses |
0.013 |
0.000 |
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Other Expenditure |
0.008 |
0.009 |
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Total Expenditure |
268.067 |
144.979 |
137.602 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total
Income |
(%) |
0.03
|
0.01 |
0.01 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.05
|
0.02 |
0.02 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.30
|
0.13 |
0.09 |
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Return on Investment (ROI) (PBT/Networth) |
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0.54
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0.21 |
0.26 |
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Debt Equity Ratio (Total Liability/Networth) |
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175.920
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158.18 |
271.58 |
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Current Ratio (Current Asset/Current Liability) |
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1.00
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1.00 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
Directors
report
During the year the company has achieved a turnover of Rs. 145.000 Millions.
The profit margin set by the company is very low. The company is concentrating
to increase the turnover of the company to stay in this competitive market.
The directors are satisfied with the performance of the company during
the year. Directors hope that the result of the coming year will be bright and
promising in future
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.43.15 |
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UK Pound |
1 |
Rs.85.22 |
|
Euro |
1 |
Rs.57.63 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
NO |
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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 |
|
38 |
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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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