MIRA
INFORM REPORT
|
Report Date : |
11.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
AVENTURA COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
A1/152, Ignou Road, Neb Sarai, New Delhi 110 068 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
22.09.1997 |
|
|
|
|
Com. Reg. No.: |
55-89785 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51505DL1997PTC089785 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer for Water treatment and Water handling components |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 9700 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small and little known Company having moderate track
records. Trade relations are
fair. No payment records are known. The Company can be considered for small business dealings on safe and
secured trade terms and conditions. |
LOCATIONS
|
Registered Office / Factory: |
A1/152, Ignou Road, Neb Sarai, New Delhi 110 068, India |
|
Tel. No.: |
91-11-29513288/90 |
|
Fax No.: |
91-11-29513291 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Kamal Tiwari |
|
Designation : |
Director |
|
Address : |
House No. A-68, sector 14, Noida 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
17.11.1970 |
|
Date of Appointment : |
06.03.2006 |
|
|
|
|
Name : |
Mr. Kapil Kalta |
|
Designation : |
Director |
|
Address : |
Sector 1/123, R. K. Puram, New Delhi |
|
Date of Birth/Age : |
26.10.1972 |
|
Date of Appointment : |
22.09.1997 |
|
Date of Ceasing : |
15.03.2002 |
|
|
|
|
Name : |
Mr. Gautam Kalra |
|
Designation : |
Director |
|
Address : |
Sector 1/123, R. K. Puram, New Delhi |
|
Date of Birth/Age : |
05.06.1976 |
|
Date of Appointment : |
22.09.1997 |
|
Date of Ceasing : |
15.03.2002 |
|
|
|
|
Name : |
Mr. K. K. Katra |
|
Designation : |
Director |
|
Address : |
Sector 1/123, R. K. Puram, New Delhi |
|
Date of Birth/Age : |
01.12.1970 |
|
Date of Appointment : |
22.09.1997 |
|
Date of Ceasing : |
16.02.1998 |
|
|
|
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Director |
|
Address : |
Sector 1/123, R. K. Puram, New Delhi |
|
Date of Birth/Age : |
01.02.1968 |
|
Date of Appointment : |
16.02.1998 |
|
Date of Ceasing : |
15.03.2002 |
|
|
|
|
Name : |
Mr. Lalit Jain |
|
Designation : |
Director |
|
Address : |
D-35, Panchsheel Enclave, New Delhi |
|
Date of Birth/Age : |
02.06.1970 |
|
Date of Appointment : |
16.02.1998 |
|
Date of Ceasing : |
15.03.2002 |
|
|
|
|
Name : |
Mr. N. C. Jain |
|
Designation : |
Director |
|
Address : |
D-35, Panchsheel Enclave, New Delhi |
|
Date of Birth/Age : |
20.04.1942 |
|
Date of Appointment : |
16.02.1998 |
|
Date of Ceasing : |
15.03.2002 |
|
|
|
|
Name : |
Mr. Manit Jain |
|
Designation : |
Director |
|
Address : |
D-35, Panchsheel Enclave, New Delhi |
|
Date of Birth/Age : |
21.11.1972 |
|
Date of Appointment : |
16.02.1998 |
|
Date of Ceasing : |
15.03.2002 |
|
|
|
|
Name : |
Mr. Sunil Ghorawa |
|
Designation : |
Director |
|
Address : |
T-2/ 1601, The Palms South, Gurgaon |
|
Date of Birth/Age : |
20.09.1968 |
|
Date of Appointment : |
15.03.2002 |
|
|
|
|
Name : |
Mr. Pawan Gupta |
|
Designation : |
Director |
|
Address : |
202, Mandakini Enclave, New Delhi |
|
Date of Birth/Age : |
26.10.1972 |
|
Date of Appointment : |
15.03.2002 |
|
|
|
|
Name : |
Mr. Kapil Gupta |
|
Designation : |
Director |
|
Address : |
1766/130, Tri Nagar, New Delhi |
|
Date of Birth/Age : |
26.10.1972 |
|
Date of Appointment : |
15.03.2002 |
KEY EXECUTIVES
|
Name : |
M K Verma and Company |
|
Designation : |
Company Secretary |
|
Mobile no: |
91-9312834345 |
|
Email ID: |
SHAREHOLDING
PATTERN
|
Names of Shareholders |
|
Percentage of
Holding |
|
Equity Share
Break-up |
|
|
|
Bodies Corporate |
|
99.98 |
|
Directors or relatives of Directors |
|
0.02 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer for Water treatment and Water handling components |
GENERAL
INFORMATION
|
Customers : |
• Wave Cyber, UK
- FRP Pressure Vessels and Membrane Pressure Vessels |
|
|
|
|
No. of Employees : |
7 |
|
|
|
|
Bankers : |
· Union Bank of India Connaught Place Branch, F14/15, Connaught Place, New Delhi 110001,
India ·
CITI Bank |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
O. P. Tulsyan and Company Chartered Accountant |
|
Address : |
B-27/5, D. S. Ramesh Nagar, New Delhi 110015, India |
|
|
|
|
Associates/Subsidiaries
: |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2.500 |
1.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
[0.068] |
[1.077] |
|
|
NETWORTH |
|
2.432 |
0.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.221 |
0.304 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.221 |
0.304 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.653 |
0.727 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.558 |
0.513 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.003 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
9.194 |
1.009 |
|
|
Cash & Bank Balances |
|
1.679 |
0.136 |
|
|
Other Current Assets |
|
6.644 |
0.000 |
|
|
Loans & Advances |
|
0.484 |
0.590 |
|
Total
Current Assets |
|
18.001 |
1.735 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
15.911 |
1.525 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
15.911 |
1.525 |
|
|
Net Current Assets |
|
2.090 |
0.210 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.002 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.653 |
0.727 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
33.371 |
0.828 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
33.371 |
0.828 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1.194 |
[0.118] |
|
|
Provision for Taxation |
|
0.185 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
1.009 |
[0.118] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
|
0.159 |
0.101 |
|
|
Other Expenditure |
|
31.859 |
0.744 |
|
Total Expenditure |
|
32.018 |
0.845 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
3.02 |
[14.25] |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.57 |
[14.25] |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
6.43 |
[5.24] |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.49 |
[0.27] |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
6.63 |
4.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.13 |
1.13 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:-
|
Corporate
identity number of the company |
U51505DL1997PTC089785 |
|
Name of the
company |
AVENTURA COMPONENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
A1/152, Ignou Road, Neb Sarai, New Delhi 110 068, India |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Equitable
Mortgage or mortgage property by depositing the title deeds |
|
Particular of
charge holder |
Union Bank of
India Connaught Place
Branch, F14/15, Connaught Place, New Delhi 110001, India |
|
Nature of
instrument creating charge |
SD – 20 Composite
Hypothecation deed |
|
Date of
instrument Creating the charge |
23.03.2006 |
|
Amount secured by
the charge |
Rs.30.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
First charge on
stocks, book debts, plant and machinery other current and fixed assets is to secure
the aggregate credit facilities of Rs. 30.500 Millions and interest other
terms as more particularly mentioned in Schedule I to the Composite
Hypothecation deed dated 23.03.2006 |
|
Description of
the property charged |
· Stock in trade · Book debts · Plant and Machinery · Others |
|
Particulars of
the property charged |
Stocks, book
debts, plant and machinery, current and Fixed Assets |
AS PER WEBSITE
DETAILS:
Profile:
Subject is a leading Company in India in the field of water components. It
is part of the Earth Water Group, known for its comprehensive industry
knowledge and innovative approach. Subject works closely with OEMs, system
integrators and manufacturers across the country to bring them the best of
technology from around the world that suits their need and budget. Armed with a
network of offices and dealers around the country, the Company is equipped to
provide the best of service and support to its customers.
Subject daily touches the life of more than 100 OEMs across the country.
It specializes in components in filtration, ion exchange process, membrane
separation technology and chemical treatment. Its products find use in a wide
spectrum of industries like pharmaceuticals, textiles, paper, dairy, food and
beverages, sugar, building and household segments. All products conform to
international quality specifications and are available Ex-stock across the
country.
FRP Vessels
Manufactured by Wave Cyber, a leader in membrane and FRP Pressure
vessels in the world, FRP vessels are made from high performance composite
material. Tested for over 2,50,000 cycles, they prove strength to withstand
pressures as high as 10 kg/cm2 without any structural damage. Being immune to
most chemicals, FRP vessels can be used practically for any water treatment
application.
Product Range :
From 6”x18” upto 48”x72” diameter, Flange option also available.
Multiport Valves and Distribution Systems
Multiport valves are made from wear resistant high hardness ceramics
that provide longer service life. Innovatively designed, easy to handle, they
also provide excellent seal capability preventing internal leakage. By just
clockwise and anticlockwise rotating of handle, multiple functions can be
performed such as filter backwash, rinse brine suction and brine rinse.
Product Range:
From ˝” to 4˝” Top/Side mount valves and Automatic for filtration, softening
and swimming pool application
RO Housings
Manufactured by Wave Cyber, a leader in membrane and FRP Pressure
vessels in the world, RO Housings are made from superior raw material enabling
them to withstand high pressures. FRP material provides resistance to most
chemicals and hence can be used in a variety of corrosive environments. RO
Housings come with complete head assembly with 20-40% lesser parts.
Product Range:
4” and 8” End port, Side port and Multiport options From 150 psi to 1200 psi
upto 7 element.
Dosing Pumps
A leading manufacturer of dosing pumps over 5 decades, SEKO has the
widest range in the category. Catering to a wide range of applications
including Cleaning and Hygiene, Water Treatment, Industrial Applications,
Process and Systems, these pumps with IP 65 PP plastic enclosure are easy to
install and immune to power supply variations.
Product Range :0.2
Litres/hour to 60,000 Litres/hour Peristatic, Electro-magnetic and motor driven
pumps.
CONSUMABLES and SPARES
Availability, performance and reliability are the causes of worry to
industries sourcing consumables and spares from multiple local sources. Subject
puts and end to this frequently faced problem with a full range of consumables
and spares to run the water treatment system.
RO Membranes
RO Membranes are spiral wound and tightly packed and used to desalt and demineralize
process water. Subject keeps ready stock of standard Membrane elements in its
warehouses across India. Membrane elements for use in reverse osmosis,
nanofiltration, ultrafiltration are offered.
Product Range :
Tap, Brackish, Low energy and Sea water membranes- DOW, Koch, CSM and
Hydranautics.
Filter Media
Regardless of the type of water treatment required, Subject offers
filtration media for all needs to address a variety of water treatment problems
commonly found in ground and well water supplies. Typical Application areas are
Sediment filtration, Iron and Manganese removal, pH Correction, Colour and
Odour removal.
Product Range :
Birm, Activated Carbon, Manganese Greensand and Anthracite
Sealant Kit
Leakages
and corrosion are the most sore points in the life of service engineers and
utility managers. Subject brings forth the ultimate sealant kit for stopping
leakages and to arrest corrosion.
Product Range : Pipe sealants for metal pipes, PVC joining cement, Emergency leakage
repair putty and Rust loosener cum corrosion inhibitor.
Ion Exchange Resins
Ion
Exchange resins have been extensively used in the industry for over four
decades. Subject brings a range of Ion Exchange resins from one of the world’s
best manufacturers. Subject resins offer much higher uniform bead sizes which
enhance the productivity and service life of the plant.
Product Range : Resins for Softening, demineralisation and dealkalisation.
Filter Cartridges
Offering
a complete line of point-of-use cartridges and housings to improve the taste
and appearance of water, Subject range of sediment filters are manufactured on
state-of-the-art production equipment to ensure the finest of filteration.
Product Range : Spun, Wound, Pleated, Melt Blown cartridges with all micron ratings
upto 0.2 micron, Activated carbon cartridges and carbon blocks, Filter housings
for all the above in all sizes and configurations
Subject
offers a complete range of Reverse Osmosis Chemicals that result in sustained
performance of RO plants for a longer time reducing unscheduled shutdowns and
cleaning costs. They disperse silt, and colloidal particles, keeping the
membrane surface clean.
Product Range : Antiscalant, Inorganic or Organic Cleaning Chemicals and Biocides
Spares
Subject
offers the complete range of spares for water treatment plants and
applications.
Product Range: Spares for Membrane Housings and membranes, Victaulic couplings,
Pressure Gauges, Valves,Level Sensors, Water Level Controllers
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.39.38 |
|
UK Pound |
1 |
Rs.80.07 |
|
Euro |
1 |
Rs.57.66 |
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 |
NO |
|
--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. |
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 |
|