MIRA
INFORM REPORT
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Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ANUPAM INDUSTRIES LIMITED |
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Registered Office : |
138, GIDC, Vithal Udyog Nagar, Vallabh Vidya Nagar, Anand – 388121, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.10.1998 |
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Com. Reg. No.: |
04-34888 |
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CIN No.: [Company
Identification No.] |
L29199GJ1998PLC034888 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDA00917A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturing of Cranes. |
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 260000 |
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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 having satisfactory
track. 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 / Factory : |
138, GIDC, Vithal Udyog Nagar, Vallabh Vidya Nagar, Anand – 388121, |
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Tel. No.: |
91-2692-235210 / 236118 |
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Fax No.: |
91-2692-236324 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Jagdishchandra C Patel |
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Designation : |
Director |
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Address : |
Anupam Nana Bazaar, Vallabh, Vidyanagar – 388110, |
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Date of Birth/Age : |
06.01.1940 |
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Date of Appointment : |
14.11.1998 |
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Name : |
Mr. Mehul J Patel |
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Designation : |
Director |
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Address : |
Anupam Nana Bazaar, Vallabh, Vidyanagar – 388110, |
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Date of Birth/Age : |
17.07.1969 |
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Date of Appointment : |
14.11.1998 |
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Name : |
Mr. Nimit J Patel |
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Designation : |
Director |
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Address : |
Anupam Nana Bazaar, Vallabh, Vidyanagar – 388110, |
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Date of Birth/Age : |
13.06.1973 |
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Date of Appointment : |
14.11.1998 |
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Name : |
Mrs. Shreya M. Patel |
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Designation : |
Director |
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Address : |
Anupam Nana Bazaar, Vallabh, Vidyanagar – 388110, |
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Date of Birth/Age : |
13.12.1969 |
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Date of Appointment : |
14.11.1998 |
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Name : |
Mrs. Meena N. Patel |
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Designation : |
Director |
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Address : |
Anupam Nana Bazaar, Vallabh, Vidyanagar – 388110, |
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Date of Birth/Age : |
28.08.1973 |
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Date of Appointment : |
14.11.1998 |
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Name : |
Mr. Kuntal J. Patel |
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Designation : |
Director |
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Address : |
Anupam Nana Bazaar, Vallabh, Vidyanagar – 388110, |
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Date of Birth/Age : |
05.01.1977 |
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Date of Appointment : |
29.10.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Jagdishchandra C. Patel |
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883003 |
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Mehul J Patel |
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621509 |
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Nimit J. Patel |
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46232 |
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Shreya M. Patel |
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46232 |
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Meena N. Patel |
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46232 |
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Kuntal J. Patel |
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30828 |
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Gyatri Trading Corporation |
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100000 |
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Jalaram Enterprises |
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100000 |
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Hi Tech Enterprises |
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100000 |
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Kirit S. Patel |
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25000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Cranes. |
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Products : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
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EOT Cranes |
Nos. |
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200 |
GENERAL INFORMATION
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Bankers : |
5th
Floor,
Landmark |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ramanlal Shah and Company Chartered Accountants |
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Address : |
Nikunj, Anand – 388001, |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3,601,726 |
Equity Shares |
Rs. 10/- each |
Rs. 36.017
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 |
36.017 |
19.991 |
18.411 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
30.958 |
19.734 |
15.259 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
66.975 |
39.725 |
33.670 |
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LOAN FUNDS |
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1] Secured Loans |
84.781 |
59.576 |
46.430 |
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2] Unsecured Loans |
7.111 |
16.808 |
11.000 |
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TOTAL BORROWING |
91.892 |
76.384 |
57.430 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
158.867 |
116.109 |
91.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.765 |
34.317 |
28.039 |
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Capital work-in-progress |
6.523 |
1.291 |
0.000 |
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INVESTMENT |
1.219 |
1.219 |
1.219 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
79.269
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53.932 |
30.172 |
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Sundry Debtors |
80.276
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51.100 |
57.115 |
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Cash & Bank Balances |
8.512
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9.373 |
4.885 |
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Loans & Advances |
5.522
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10.098 |
6.954 |
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Total
Current Assets |
173.579
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124.503 |
99.126 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
57.562
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45.840 |
37.686 |
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Provisions |
2.418
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0.770 |
1.307 |
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Total
Current Liabilities |
59.980
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46.610 |
38.993 |
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Net Current Assets |
113.599
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77.893 |
60.133 |
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MISCELLANEOUS EXPENSES |
0.761 |
1.389 |
1.709 |
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TOTAL |
158.867 |
116.109 |
91.100 |
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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 |
401.354 |
202.769 |
154.720 |
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Other Income |
0.353 |
0.549 |
0.443 |
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Total Income |
401.707 |
203.318 |
155.163 |
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Profit/(Loss) Before Tax |
16.875 |
5.405 |
1.983 |
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Provision for Taxation |
5.500 |
1.500 |
0.325 |
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Profit/(Loss) After Tax |
11.375 |
3.905 |
1.658 |
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Expenditures : |
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Raw Material Consumed |
297.990 |
14.241 |
124.115 |
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Consumption of stores and spares parts |
11.342 |
11.139 |
4.900 |
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Salaries, Wages, Bonus, etc. |
12.071 |
6.861 |
4.167 |
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Managerial Remuneration |
1.680 |
0.840 |
0.000 |
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Payment to Auditors |
0.050 |
0.050 |
0.000 |
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Interest |
13.777 |
9.857 |
7.083 |
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Insurance Expenses |
0.604 |
0.197 |
0.000 |
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Power & Fuel |
1.592 |
0.923 |
0.485 |
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Depreciation & Amortization |
2.103 |
1.658 |
1.548 |
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Other Expenditure |
43.623 |
152.147 |
10.880 |
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Total Expenditure |
384.832 |
197.913 |
153.178 |
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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 |
(%) |
2.83
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1.92 |
1.07 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.20
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2.67 |
1.28 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.02
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3.40 |
1.56 |
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Return on Investment (ROI) (PBT/Networth) |
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0.25
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0.14 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.27
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3.10 |
2.86 |
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Current Ratio (Current Asset/Current Liability) |
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2.89
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2.67 |
2.54 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
- Land
- Building
- Plant and Machinery
- Electrical Installation
- Furniture and Fixture
- Type Writer
- Scooter
- Bycle
- Motor Car
- Water Cooler
- Air Conditioners
- Computers
- Fax
- Xerox Machine
Bankers Charges
Report as per Registry
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Name of the company |
ANUPAM
INDUSTRIES LIMITED |
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Presented By |
Mr. Mehul Patel
and Centurion Bank Limited |
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1) Date and description of instrument creating the change |
Hypothecation
Agreement dated 20.12.2005 thereby Securing bank for granting of credit
facility to the company. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.885 Million
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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 |
Hypothecation by
way of first charge in favour of bank the vehicles / machine bearing make ACE
12 XW Hydraulic As security for
due repayment to the bank of the said loan along with interest and all costs,
charges and expenses incurred by the Bank for the protection preservation,
defence and perfection of the security and for attempted or actual
realisation thereof. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest : 4.14 %
Flat p.a. Tenor : 35 months
EMI : Rs. 0.028
Million |
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5) Name and Address and description of the person entitled to the charge. |
Centurion Bank
Limited 5th
Floor, |
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6) Date and brief description of instrument modifying the charge |
-- |
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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. |
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This form is for |
Modification of
charge |
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Charge
identification number of the charge to be modified |
10026475 |
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Corporate
identity number of the company |
L29199GJ1998PLC034888 |
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Name of the
company |
ANUPAM INDUSTRIES LIMITED |
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Address of the
registered office or of the principal place of business in |
138, GIDC, Vithal Udyog Nagar, Vallabh Vidya Nagar, Anand – 388121, |
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Type of charge |
Book debts Movable property Floating charge |
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Particular of
charge holder |
ICICI Bank
Limited Landmark Alkapuri, |
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Nature of
description of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation dated 14.07.2007, executed by Anupam Industries Limited in
favour of ICICI Bank Limited |
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Date of
instrument Creating the charge |
14.07.2007 |
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Amount secured by
the charge |
Rs. 374.500
Millions |
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.41.12 |
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|
1 |
Rs.82.43 |
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Euro |
1 |
Rs.56.03 |
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 |
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 |
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455 |
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 |
|
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. |
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 |
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