MIRA
INFORM REPORT
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Report Date : |
25th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
A S
TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
208,
Archana Arcade, St. Johns Road, Secunderabad - 500 025, Andhra Pradesh,
India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
03.09.1999 |
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Com. Reg. No.: |
01-32433 |
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CIN No.: [Company
Identification No.] |
U30007AP1999PTC032433 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDA01763G |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
To
carry on the business of computers consultants, to provide and acquire
educational, personnel training, technical know-how and any other client
service or facility relating to computers, computer programming through
Franchise, Tie-ups, Agency. |
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
30000 |
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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 reported as
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 : |
208,
Archana Arcade, St. Johns Road, Secunderabad - 500 025, Andhra Pradesh,
India |
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Tel. No.: |
91-40-27822886 |
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Fax No.: |
91-40-27821267 |
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E-Mail : |
DIRECTORS
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Name : |
Mr.
Annavaradu Srinivasa Rao |
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Designation : |
Managing
Director |
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Address : |
1-3-183,
SBI Colony, Hyderabad – 500 080, Andhra Pradesh, India |
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Date of Birth/Age : |
10.07.1962 |
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Date of Appointment : |
03.09.1999 |
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Name : |
Ms.
Padmavathi AVR |
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Designation : |
Director
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Address : |
1-3-183,
SBI Colony, Hyderabad – 500 080, Andhra Pradesh, India |
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Date of Birth/Age : |
25.06.1966 |
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Date of Appointment : |
10.08.2002 |
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Name : |
Mr. P
Hemadri Rao |
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Designation : |
Director
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Address : |
Plot
No. 95, Road No. 5-J, Krishna Nagar Colony, Moula Ali, Hyderabad
– 500 040, Andhra Pradesh, India |
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Name : |
Mr. L
Siva Prasad |
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Designation : |
Director
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Address : |
1-8-5,
Kamala Nagar, ECIL Post, Hyderabad – 500 062, Andhra Pradesh, India |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Annavaradu Srinivasa Rao |
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68000 |
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Mr. C
Shekhar |
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10000 |
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Mr.
Annapa Srinivasa Reddy |
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10000 |
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Mr. P
Hemadri Rao |
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200 |
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Mr. L
Siva Prasad |
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200 |
BUSINESS DETAILS
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Line of Business : |
To
carry on the business of computers consultants, to provide and acquire
educational, personnel training, technical know-how and any other client
service or facility relating to computers, computer programming through
Franchise, Tie-ups, Agency. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Secunderabad Branch, Andhra Pradesh, India
Secunderabad Branch, Andhra Pradesh, India |
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Banking Relations : |
Satisfactory
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CAPITAL STRUCTURE
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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700000 |
Equity
Shares |
Rs. 10/- |
Rs. 7.000 millions |
Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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700000 |
Equity
Shares |
Rs. 10/- |
Rs. 7.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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7.000 |
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2] Reserves & Surplus |
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|
1.439 |
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NETWORTH |
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8.439 |
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LOAN FUNDS |
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1] Secured Loans |
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6.259 |
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2] Unsecured Loans |
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6.575 |
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TOTAL BORROWING |
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12.834 |
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TOTAL |
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21.273 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.472 |
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Capital work-in-progress |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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20.801 |
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Loans & Advances |
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Total Current Assets |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total Current Liabilities |
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Net Current Assets |
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20.801 |
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TOTAL |
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21.273 |
PROFIT
& LOSS ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover [including other income] |
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132.856 |
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Profit/(Loss)
Before Tax |
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0.592 |
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Provision
for Taxation |
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0.217 |
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Profit/(Loss)
After Tax |
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0.375 |
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Total
Expenditure |
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132.264 |
KEY
RATIOS
|
PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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0.28 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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0.44 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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2.78 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.07 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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2.52 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers
Charges Report as per Registry
Name of the Company : A S Technology Private
Limited
Presented by : -- Sri. A Srinivasa Rao, Managing Director
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1.
Date and description of the instrument creating or evidencing the charge
|
30.11.2005 Power
Trade Facility Agreement Hypothecation
of Current Assets and Movables (Composite) |
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2.
Amount secured by the charge /amount
owing on security of the charge |
Cash
Credit Rs. 7.000 millions Additional Rs. 1.750 millions Total Rs. 8.750 millions |
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3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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Hypothecation
of stocks and book debts of the company |
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4.
Gist of the terms and conditions and extent and operation of the charge. |
Rate
of Interest: PLR-2%, presently at 10% p.a. payable monthly. Margins:
25% Receivables
upto 60 days will be eligible for drawing power calculations. Tenor:
12 months Repayments:
on demand |
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5.
Names, address and description of the
persons entitled to charge |
UTI
Bank Limited Secunderabad
Branch, Andhra Pradesh, India Registered
Office: 3rd Floor, Law Garden, Ellisbridge, Ahmedabad, Gujarat,
India |
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6.
Date and brief description of instrument modifying the charge |
N A |
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7.
Particular of modification specifying the terms and conditions or the extent or operation of the charge in which modification is made and the details of modification |
N A |
Name of the Company : A S Technology Private
Limited
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1.
Date and description of the instrument creating or evidencing the charge
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A]
Hypothecation Agreement dated 02.11.2001-Overdraft facility B]
Hypothecation Agreement dated 02.11.2001-Letter of Credit C]
Letter of Credit application and agreement form dated 02.11.2001 D]
Take delivery letter dated 02.11.2001 E] Request
for overdraft facilities dated 02.11.2001 |
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2.
Amount secured by the charge /amount
owing on security of the charge |
a)
Overdraft – Rs. 4.000 millions b)
Letter of Credit – Rs. 1.000 millions c)
Bank Guarantee |
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3.
Short Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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Overdraft
facility: a)
Hypothecation of Computers, Computers Hardware and Peripherals. b)
Hypothecation of all the book debts of the company considered good for payment. Letter
of Credit Facility: a)
Hypothecation of stock acquired under Letter of Credit |
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4.
Gist of the terms and conditions and extent and operation of the charge. |
Rate
of Interest on DD limit is 16.50% Repayable
on demand Commission
in case of LC is as per bank rules |
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5.
Names, address and description of the
persons entitled to charge |
Karnataka
Bank Limited Secunderabad
Branch, Andhra Pradesh, India |
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6.
Date and brief description of instrument modifying the charge |
N A |
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7.
Particular of modification specifying the terms and conditions or the extent
or operation of the charge in which modification is made and the details of modification |
N A |
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for making
any prohibited payments or other improper payments to government officials for
engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.24 |
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UK
Pound |
1 |
Rs.86.95 |
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Euro |
1 |
Rs.57.33 |
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 |
|
45 |
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 |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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