MIRA INFORM REPORT

 

 

 

Report Date :

08.12.2008

 

IDENTIFICATION DETAILS

 

Name :

AUTOTECH COMPONENTS PRIVATE LIMITED

 

 

Registered Office :

N-100 D Cannaught Place, New Delhi – 110 001.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

CIN No.:

[Company Identification No.]

U24300DL1999PTC101361

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Auto Components

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 17010

 

 

Status :

Small Company

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively small company in its field. Trade relations are fair. Scale of activity is limited. No complaints have been heard.

 

The company can be considered for small to mediocre business dealings.

 

 

LOCATIONS

 

Registered Office :

N-100 D Cannaught Place, New Delhi – 110 001, India.

Tel. No.:

91-124-4369345

 

 

DIRECTORS

 

Name :

Mr. Sandeep Kumar

Designation :

Director

Address :

293 Sector – 7, Urban Estate, Gurgaon – 122 001, Haryana

Date of Birth/Age :

28.09.1974

Date of Appointment :

15.03.2001

Din No:

00448832

 

 

Name :

Mr. Pradeep Kumar

Designation :

Director

Address :

293 Sector – 7, Urban Estate, Gurgaon – 122 001, Haryana.

Date of Birth/Age :

11.11.1972

Date of Appointment :

15.03.2001

 

 

Name :

Mrs. Deepti Kumar

Designation :

Director

Address :

293 Sector – 7, Urban Estate, Gurgaon – 122 001, Haryana.

Date of Birth/Age :

05.02.1975

Date of Appointment :

15.03.2001

Din No:

00448826

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON (29.09.2007)

 

Names of Shareholders

No. of Shares

Mrs. Ridhima Chawla

9300

Mrs. Seema Gupta

1800

Mr. Satish KR Sharma

1800

Mr. Gian Chand Jain

1500

Mr. Rakesh Chawla

1500

Mr. Bharat Bhushan

1600

Mrs. Laxmi Aggarwal

2000

Mrs. Nisha Bansal

2000

Mr. Ajay mittal

1200

Mr. Manoj Bansal

1600

Mr. Kesho Ram

1500

Mr. Satish KR Jain

1600

Mr. Subhash Chand Gupta

1600

Mr. Pawan KR Changia

2000

Mr. Rajiv Aggarwal

2000

Mrs. Baleshwari Devi

1800

Mr. Bhim Singh

1800

Mr. Parveen Chawal

1500

Mr. Sandeep Kumar

51900

Mrs. Deepti Kumar

20000

Mr. V.B Kumar

40000

Total

150000

 

Equity Share Breakup

 

Percentage of Holding

Category (31.03.2007)

 

 

Bodies corporate

 

19.00

Directors or relatives of directors

 

81.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Auto Components

 

 

PRODUCTION STATUS

 

Particulars

 

 

Unit

Actual Production

Auto Parts

 

 

Nos.

8767367

 

 

GENERAL INFORMATION

 

 

Suppliers :
  • A.G. Pipes
  • A.S. Steels
  • A.V. Fastners Private Limited
  • Akansha Traders
  • Ankit Internatiional
  • Antech Engineers
  • Autotech Industries
  • Autovision India Private Limited
  • Avon Engineers
  • Aswani Mukhija
  • Avon Tubetech Private Limited
  • Bhusan Power and Steel Limited
  • Bharat Industrial Corporation
  • Bhusan Steel Trips Limited
  • Carbo Gauges
  • Electric and machinery Traders
  • Friends Engineering Company
  • Fine Metal and Dies
  • Fitwell engineers
  • Front line Multitech Private limited
  • Goyal Steels
  • Grovil Fastners
  • Hansa Tubes
  • J.P. Industries
  • J.S. Industries
  • Jaya Enterprises
  • Maitri Motors
  • Modi Chemicals

 

 

Customers :
  • M/s Accurate Auto Products
  • M/s Automax – Lst
  • M/s Automax Binoia
  • M/s Century Auto Private LImited
  • M/s DSR Steel Private Limited
  • M/s Ekta Industrial Products Private Limited (IMT)
  • M/s Friends Engineering
  • M/s Hare Krishna Steels
  • M/s Omax Auto Limited (Dharuhera)
  • M/s Omax Auto Manesar
  • M/s Omax Fusion
  • M/s Maitri Motors
  • M/s Presswell
  • M/s Patton International Private Limited
  • M/s Speedo Max
  • M/s Swastik Steels

 

 

Bankers :

Indian Bank, GA-4,5,7,8, Ground Floor, Raheja Square, IMT, Manesar, Gurgaon – 122 050, Haryana, India

 

 

Facilities :

Particulars

31.03.2007 (Rs.in millions)

SECURED LOAN:

Overdraft with Indian Bank

(Secured against Hypothecation of Stock)

ICICI Bank Loans (Against Max Pic Up)

ICICI Bank Loan (Against Honda Citi)

ICICI Bank Loans (Against Zen)

Indian Bank (Term Loan)

Indian Bank (Term Loan – II)

(Secured Against Plant and Machinery and Personal Property of Directors)

 

5.518

 

 

0.057

 

0.268

 

0.164

4.506

0.607

 

 

Total

11.120

UNSECURED LOAN:

Automax

Automax (Interest Free Loan)

Automax Loan 7.5%

Sh. V.B. Kumar

 

1.300

1.000

0.450

0.451

Total

3.201

Grand Total

14.321

Banking Relations :

--

 

 

Auditors :

A.B.Sanwalka and Company

 

Chartered Accountant

Address :

3 J Gopala Tower, Rajindra place, New Delhi – 110 008, India.

Pan No:

AALFA5215A

 

 

Associates/Subsidiaries :

NIL

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

150000

Equity Shares

Rs. 10/- Each

1.500 millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

150000

Equity Shares

Rs. 10/- Each

1.500 millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2007

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

1.500

1.218

1.096

2] Share Application Money

0.000

0.000

0.122

3] Reserves & Surplus

1.902

1.945

1.647

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

3.402

3.163

2.865

LOAN FUNDS

 

 

 

1] Secured Loans

11.120

8.959

7.753

2] Unsecured Loans

3.201

3.434

0.871

TOTAL BORROWING

14.321

12.393

8.624

DEFERRED TAX LIABILITIES

0.684

0.669

0.646

 

 

 

 

TOTAL

18.407

16.225

12.135

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

15.066

13.745

11.159

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

2.588

1.851

0.854

 

Sundry Debtors

8.681

5.483

5.912

 

Cash & Bank Balances

0.146

0.302

0.206

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

0.369

0.330

0.343

Total Current Assets
11.784

7.966

7.315

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities

8.455

5.499

5.974

 

Provisions

0.000

0.000

0.379

Total Current Liabilities
8.455

5.499

6.353

Net Current Assets
3.329

2.467

0.962

 

 

 

 

MISCELLANEOUS EXPENSES

0.012

0.013

0.014

 

 

 

 

TOTAL

18.407

16.225

12.135

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2007

31.03.2006

31.03.2005

PAT / Total Income

(%)
NA

NA

NA

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
NA

NA

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
NA

NA

NA

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
NA

NA

NA

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
2.5

1.7

2.2

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.4

1.4

1.5

 

 

LOCAL AGENCY FURTHER INFORMATION

 

This form is for

Creation of charge

Modification of charge

Charge identification number of the modified 

80045761

Corporate identity number of the company

U24300DL1999PTC101361

Name of the company

AUTOTECH COMPONENTS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

N-100, Dconnaught Place, New Delhi, India.

Type of charge

·         Book Debts

·         Movable Property (not being pleged)

·         Floating Charge

·         Others

Particular of charge holder

Indian Bank, IMT Manesar Branch, GA 4,5,7,8 Ground Floor, IMT Manesar, Gurgaon – 122 050, Haryana, India.

E-Mail: selvam.deep@gmail.com

Nature of description of the instrument creating or modifying the charge

D-101 Hypothecation of Movables, D-105 agreement for open cash credit

Date of instrument Creating the charge

24.05.2008

Amount secured by the charge

9.500 Millions

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of interest

Interest is chargeable at BPLR – 0.50% presently 12.00%p.a.

 

Terms of repayment

Repayment as per bank norms

 

Margin

Margin as per bank norms

 

Extent and operations of the charge

100%

 

Others

First charge by way of hypothecation of stocks, Book debts, Other current and fixed assets of the company both present and future is to secure the SOD limit of Rs.9.500 millions (increased from Rs.4.000 millions)

Short particulars of the property charged

First charge by way of hypothecation of stocks, Book debts, Other current and fixed assets of the company both present and future

 

 

FIXED ASSETS:

 

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.49.69

UK Pound

1

Rs.72.96

Euro

1

Rs.63.46

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

35

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions