MIRA
INFORM REPORT
|
Report Date : |
25.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
AADITYA CERAMICS PRIVATE LIMITED |
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Registered Office : |
103, Great Easter
Retreat Co-Operative Housing Society Limited, Lakaki Road, |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.06.2003 |
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Com. Reg. No.: |
11-18045 |
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CIN No.: [Company
Identification No.] |
U50101PN2003PTC018045 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA06926D |
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PAN No.: [Permanent
Account No.] |
AAECA9044M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Refractory Material, High Alumina Bricks, Castable Refractories, Special Shape Brick, Fire Clay, Fire Cement (Heat Resistant Cement), etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 26600 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track. Directors
are reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are however reported as
usually correct and as per commitments. The company can be considered for
small business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
103, Great Easter
Retreat Co-Operative Housing Society Limited, Lakaki Road, |
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Tel. No.: |
91-20-25533561 |
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Mobile No.: |
91-093749 91301 |
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Fax No.: |
91-20-25534606 |
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E-Mail : |
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Website : |
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Head Office : |
102, Anant Chambers, 710, J M road, Shivajinagar, Pune – 411 005,
Maharashtra, India |
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Tel. No.: |
91-20-25533561 |
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Factory 1 : |
8-A National Highway, Lalpar, Taluka Wankaner - 363 621, District Rajkot, Gujarat, India. |
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Tel. No.: |
91-2828-293482 |
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Sales Office : |
Aaditya Ceramics
Inc., 103 – 1200 York Mills Road, Toronto, ON, Canada, M3A 1X8 |
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Tel. No.: |
001-416-391-4323 |
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Mobile No.: |
001-416-890-7695 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ashok Padamshi Shah |
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Designation : |
Director |
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Address : |
102, Anant Chambers, 710, J M road, Shivajinagar, Pune – 411 005,
Maharashtra, India |
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Date of Birth/Age : |
08.08.1947 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Mrs. Bharati Ashok Shah |
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Designation : |
Director |
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Address : |
102, Anant Chambers, 710, J M road, Shivajinagar, Pune – 411 005,
Maharashtra, India |
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Date of Birth/Age : |
23.02.1949 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Mr. Mihir Ashok Shah |
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Designation : |
Director |
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Address : |
102, Anant Chambers, 710, J M road, Shivajinagar, Pune – 411 005,
Maharashtra, India |
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Date of Birth/Age : |
08.02.1974 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Ms. Hetal Mihir Shah |
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Designation : |
Director |
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Address : |
102, Anant Chambers, 710, J M road, Shivajinagar, Pune – 411 005,
Maharashtra, India |
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Date of Birth/Age : |
27.01.1975 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Mr. Ameet Ashok Shah |
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Designation : |
Director |
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Address : |
102, Anant Chambers, 710, J M road, Shivajinagar, Pune – 411 005,
Maharashtra, India |
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Date of Birth/Age : |
05.03.1976 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Mrs. Sonal Ameet Shah |
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Designation : |
Director |
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Address : |
Zadbuke Building, Shivaji Road, Shrirampur, Ahmadnagar – 413 709,
Maharashtra, India |
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Date of Birth/Age : |
12.04.1978 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Mr. Ankur Ashok Shah |
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Designation : |
Director |
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Address : |
Zadbuke Building, Shivaji Road, Shrirampur, Ahmadnagar – 413 709,
Maharashtra, India |
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Date of Birth/Age : |
05.03.1978 |
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Date of Appointment : |
18.06.2003 |
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Name : |
Mrs. Ratna Ankur Shah |
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Designation : |
Director |
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Address : |
Zadbuke Building, Shivaji Road, Shrirampur, Ahmadnagar – 413 709,
Maharashtra, India |
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Date of Birth/Age : |
14.01.1977 |
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Date of Appointment : |
18.06.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Mr. Ashok Padamshi Shah |
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1250 |
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Mrs. Bharati Ashok Shah |
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1250 |
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Mr. Mihir Ashok Shah |
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1250 |
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Ms. Hetal Mihir Shah |
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1250 |
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Mr. Ameet Ashok Shah |
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1250 |
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Mrs. Sonal Ameet Shah |
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1250 |
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Mr. Ankur Ashok Shah |
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1250 |
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Mrs. Ratna Ankur Shah |
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1250 |
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Total |
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10000 |
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Names of Shareholders |
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Percentage of
Holding |
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Directors or Relatives of Directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Refractory Material, High Alumina Bricks, Castable Refractories, Special Shape Brick, Fire Clay, Fire Cement (Heat Resistant Cement), etc. |
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Products : |
* Refractory Material * High Alumina Bricks * Castable Refractories * Special Shape Brick * Fire Clay * Fire Cement (Heat Resistant Cement) |
GENERAL
INFORMATION
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Bankers : |
* State Bank of India Narayan Nivas, Haridas Road, Vakaner – 363 621, Gujarat, India * ICICI
Bank Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Parekh Lalwani and Associates Chartered Accountants |
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Address : |
410-412, Pentagaon, Parvati, Off Satara Road, Pune – 411 009,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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5.920 |
5.073 |
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3] Reserves & Surplus |
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0.631 |
0.000 |
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NETWORTH |
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6.651 |
5.173 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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TOTAL |
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6.651 |
5.173 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.500 |
3.888 |
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Capital work-in-progress |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.275 |
0.000 |
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Sundry Debtors |
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0.620 |
0.000 |
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Cash & Bank Balances |
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0.085 |
0.563 |
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Loans & Advances |
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0.137 |
1.067 |
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Total
Current Assets |
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1.117 |
1.630 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.984 |
0.740 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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1.984 |
0.740 |
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Net Current Assets |
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(0.867) |
0.890 |
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MISCELLANEOUS EXPENSES |
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0.018 |
0.022 |
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Pre-Operating Expenses |
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0.000 |
0.373 |
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TOTAL |
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6.651 |
5.173 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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|
31.03.2006 |
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Sales Turnover |
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10.817 |
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Other Income |
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0.000 |
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Total Income |
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10.817 |
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Profit/(Loss) Before Tax |
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0.892 |
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Provision for Taxation |
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0.261 |
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Profit/(Loss) After Tax |
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0.631 |
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Total Expenditure |
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0.809 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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5.83 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
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8.24 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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10.35 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.13 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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1.29 |
1.14 |
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Current Ratio (Current Asset/Current Liability) |
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(0.56) |
2.20 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office has been changed from 102, Anant Chambers, 710, J M
road, Shivajinagar, Pune – 411 005, Maharashtra, India to the present w.e.f.
01.12.2006.
FORM 8
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Corporation identity number (CIN) or foreign company registrations number of the company |
U50101PN2003PTC018045 |
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Name of the company |
AADITYA CERAMICS PRIVATE LIMITED |
|
Address |
102, Anant Chambers, 710, J M road, Shivajinagar, Pune – 411 005,
Maharashtra, India |
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This Form is for |
Creation of charge |
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Type of Charges |
Immovable property, book debts, movable property, others |
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Particular of the charge holder |
State Bank of India Narayan Nivas, Haridas Road, Vakaner – 363 621, Gujarat, India |
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Nature or description of the instrument creating charge |
Agreement of hypothecation of stock and book debts, plant and machinery and factory land and building. |
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Date of the instrument creating charge |
05.10.2006 |
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Amount Secure by the charge |
Rs. 2.500 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: SBAR 11.50% floating Terms of repayment: Cash credit repayable on demand Margin : raw materials imported and indigenous 25%, semi finished goods 40%, finished goods 40% and domestic receivables 50% Extent and operation of the charge: charge over entire present or future current assets of the company including all stocks and other movable assets and plant and machinery of the accompany on pari passu basis cash credit limit of Rs. 2.500 millions in favour of State Bank of India vakaner branch by way of first and exclusive charge. |
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Description of the property charge whether it is a charge on |
-- |
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Modification charge Charge identification number of the charge to be modified |
-- |
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Date of instrument modifying the charge |
05.10.2006 |
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Particulars of the Property charged |
Present and future current assets of the company including all stocks, book debts and other movable assets and plant and machinery, factory land and building on pari passu basis. Located at: Survey No. 79/2, Village Lalpur, Taluka Vakaner, District Rajkot, Rajasthan, India |
AS PER WEB:
Profile
Subject came to an existence due to its parent company ‘Sai Ceramic Engineers Private Limited which is basically into marketing & constructing field since last 35 years, serving Indian Industries.
The parent company takes turnkey base jobs for construction of boilers,
modification of furnace and lining work. They have been doing since decades in
various provinces in India and Nepal. They are thankful to Mr. A.P. Shah, who
is a founder of this organization has given birth to this company “Aaditya Ceramics Pvt. Ltd.” He has
done this backward integration in manufacturing of refractories, which has
given him integrity.
On behalf of family member, board of directors and the entire team we thankful
to him for giving us humble recourse to Indian Industry.
Their manufacturing company is ISO 9001:2000 and is located
in state of Gujarat, India. They manufacture Refractory Material, High Alumina
Bricks, Castable Refractories, Special Shape Brick, Fire Clay, Fire Cement
(Heat Resistant Cement). Their product often is available in low to super duty
range for bricks, with different temperature tolerances for other products as
well. Shapes such as arches, wedges and keys are also available if
needed.
They offer consistent quality product to customer requirement. They supply our
material to all ‘OEM’ manufacturers - steel plants, sugar plant, fertilizer
plant, cement plant, power generation, forging plant etc.
Industries Serves:
* Sugar Industries
*
Glass Industries
*
Ceramic Industries
*
Paper Industries
*
Iron & Steel Industries
*
Cement & Lime Industries
*
Fertilizer & Chemical Industries
*
Rolling Mills & Forging Furnace
*
Ferrous & Non-ferrous Foundries
*
Sponge Iron, Iron Palletising & Metal Powder
furnaces
*
Industrial Furnace/Boiler
*
Gas & Coke work
*
Petro Chemical & Oil refineries
*
Engineers Industries
*
Special Purpose Furnace
*
Power Houses
*
Railways
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.39.40 |
|
UK Pound |
1 |
Rs.81.12 |
|
Euro |
1 |
Rs.56.69 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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--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 |
|
27 |
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 |
|