MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
APROTECH ENGINEERS PRIVATE LIMITED |
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Registered Office : |
House No. 1573, Sector - 7E, Faridabad-121006, Haryana |
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Country : |
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Financials (as on) : |
31.03.2006 |
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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 : |
USD 4000 |
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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 : |
House No. 1573, Sector - 7E, Faridabad-121006, |
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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 : |
DIRECTORS
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Name : |
Mrs. Usha Jain |
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Designation : |
Director |
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Address : |
House No. 1573, Sector - 7E, Faridabad-121006, |
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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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Address : |
House No.: 1F-35, B.P., N.I.T., |
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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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Address : |
1573, Sector 7E, Faridabad-121006, |
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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 Jain |
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Designation : |
Director |
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Address : |
1573, Sector 7E, Faridabad-121006, |
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Date of Birth/Age : |
08.09.1945 |
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Date of Appointment : |
28.09.1999 |
KEY EXECUTIVES
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Name : |
Chandhak Mundhra and Associates |
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Designation : |
Company Secretary |
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Address : |
102 Sector – 7, HUDA Market, |
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Tel. No.: |
91-129-4105564 |
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Mobile NO.: |
91-9313775563 |
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E-Mail: |
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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1435 |
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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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Total |
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13796 |
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Equity Share Break-up |
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Category |
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Percentage
of Holding |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Designing and manufacturing of conveyors,
elevators, packing machine and other related accessories. |
GENERAL INFORMATION
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Customers : |
v Birla Industries :
Fly Ash v OCL India Limited :
Refractory Mortar, Lime Powder, 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 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
Axis Bank Limited |
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Banking Relations : |
Unknown |
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Auditors : |
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Name : |
Kumar Vijay Gupta and Company Chartered Accountants |
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Address : |
1F-34-35, B. P.N.I. T., |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25,000 |
Equity Shares |
Rs. 100.00 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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13,796 |
Equity Shares |
Rs. 100.00 each |
Rs. 1.380 millions |
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 |
1.380 |
1.380 |
1.709 |
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2] Share Application Money |
0.329 |
0.329 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(0.501) |
(0.586) |
(0.468) |
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NETWORTH |
1.208 |
1.123 |
1.241 |
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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 |
0.802 |
0.677 |
0.627 |
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TOTAL BORROWING |
0.802 |
0.677 |
0.627 |
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DEFERRED TAX LIABILITIES |
0.024 |
0.013 |
0.015 |
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TOTAL |
2.034 |
1.813 |
1.883 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.727 |
0.534 |
0.541 |
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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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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.003
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0.348 |
0.343 |
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Sundry Debtors |
0.706
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0.702 |
0.632 |
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Cash & Bank Balances |
0.109
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0.335 |
0.553 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.243
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1.997 |
1.781 |
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Total
Current Assets |
3.061
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3.382 |
3.309 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.754
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2.103 |
1.967 |
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Provisions |
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Total
Current Liabilities |
1.754
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2.103 |
1.967 |
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Net Current Assets |
1.307
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1.279 |
1.342 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.034 |
1.813 |
1.883 |
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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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Sales Turnover [including other income] |
2.635 |
1.002 |
0.872 |
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Profit/(Loss) Before Tax |
0.096 |
(0.052) |
(0.240) |
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Provision for Taxation |
0.000 |
-- |
-- |
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Profit/(Loss) After Tax |
0.096 |
(0.052) |
(0.240) |
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Total Expenditure |
2.539 |
1.054 |
1.112 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
3.64
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(5.19) |
(27.52) |
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Net Profit Margin (PBT/Sales) |
(%) |
3.64
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(5.19) |
(27.52) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.53
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(1.33) |
(6.23) |
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Return on Investment (ROI) (PBT/Networth) |
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0.08
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(0.05) |
(0.19) |
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Debt Equity Ratio (Total Liability/Networth) |
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2.12
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2.48 |
2.09 |
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Current Ratio (Current Asset/Current Liability) |
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1.75
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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.
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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 |
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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 |
As per website:
Introduction
Subject offers high quality and accurate packaging solutions.
Subject is a total solutions outlet and pioneer in the field
of setting up Mini Cement Plants and
Bulk Packaging units. Subject 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,
Subject has 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. Subject is a total solutions outlet and
pioneer in the field of setting up Mini
Cement Plants and Bulk Packaging units.
Subject offers complete packaging solutions under one
roof which include designing and manufacturing of
conveyors, elevators, packing machine and other related
accessories.
Subject 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.
Subject 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
- Valve Type Bag Filling
Machine
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
- 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.
CMT REPORT [Corruption, Money laundering & Terrorism]
The Public Notice information has been collected from various
sources including but not limited to: The Courts,
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.41.01 |
|
|
1 |
Rs.81.39 |
|
Euro |
1 |
Rs.55.30 |
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 |