MIRA
INFORM REPORT
|
Report Date : |
23.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ASIAN POWER CONTROLS LIMITED |
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Formerly Known As : |
ASIAN POWER CONTROLS PRIVATE LIMITED |
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Registered Office : |
96, Arcadia, Nariman Point, Mumbai – 400021, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
09.01.1984 |
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Com. Reg. No.: |
11-31791 |
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CIN No.: [Company
Identification No.] |
U01MH1984PTC031791 |
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IEC No.: |
0388153083 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA21060E |
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PAN No.: [Permanent
Account No.] |
AACCA6535B |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturer and Importer of Diesel Generator Sets “POWERMAN’” |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having fine track. Trade relations are fair. Financial position
is good. Payments are reported as usually correct and as per commitments. The
company is doing well. It can be
considered good for any normal business dealings at usual trade terms and
conditions. It can be
regarded as a promising business partner in a medium to long run. |
INFORMATION PARTED
BY
|
Name : |
Ms. Shweta Garg |
|
Designation : |
Director |
|
Date : |
22.07.2008 |
LOCATIONS
|
Registered Office : |
96, Arcadia, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22832281/ 22845232/ 6930225/ 6931503 |
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Mobile No.: |
91-9818175002/ 9313892054/ 9223417921 |
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Fax No.: |
91-22-22025083/ 4002504 |
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E-Mail : |
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Website : |
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Area : |
541 sq. ft. |
|
Location : |
Leased |
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Factory 1: |
Navjeevan Warehousing, S. No.27/251/1, Kadam Wakvasti, Loni Kalbhor,
Pune – 412201, Maharashtra, India |
|
Tel. No.: |
91-20-26913305 |
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Fax No.: |
91-20-26913026 |
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Area : |
10835 sq. ft. |
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Location : |
Rented |
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Factory 1 : |
Kondwa, Budruk,
Opposite, Angraj Resort, Pune - 411048, Maharashtra, India |
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Tel. No.: |
91-20-26930225/
1503 |
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Fax No.: |
91-20-26924334 |
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Area : |
20000 sq. ft. |
|
Location : |
Owned |
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Factory 2 : |
Panchal Udyog
Nagar, Phimpore, Maharashtra, India |
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Tel. No.: |
91-260-2221240 |
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Fax No.: |
91-260-2221240 |
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Area : |
4500 sq. ft. |
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Location : |
Rented |
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Branch Office : |
S. No. 32/2/5/1 and S. No. 41/2/5, Kondhwa-Budruk, Pune – 411048,
Maharashtra, India |
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Tel. No.: |
91-20-26930225 |
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Fax No.: |
91-20-26934334 |
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E-Mail : |
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Area : |
43010 sq. ft. |
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Location : |
Owned |
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Branches : |
Located at :-
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DIRECTORS
|
Name : |
Mr. Shiv Mohan Mukkar |
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Designation : |
Director |
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Address : |
M-16, Kailash Colony, New Delhi – 110048, India |
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Date of Birth/Age : |
05.06.1943 |
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Qualifications : |
B. Com |
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Experience : |
42 years |
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Date of Appointment : |
14.07.2003 |
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|
Name : |
Ms. Sonika Wadhba |
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Designation : |
Director |
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Address : |
1332-B/8, Govindpuri, Kalkaji, New Delhi – 110019, India |
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Date of Birth/Age : |
15.07.1979 |
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Qualifications : |
M. Com, FCA |
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Experience : |
6 years |
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|
Name : |
Ms. Shweta Garg |
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Designation : |
Director |
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Address : |
103-C, Pocket – A, Sukhdev Vihar, New Delhi – 110076, India |
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Date of Birth/Age : |
22.04.1981 |
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Qualifications : |
B. Com, MBA |
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Experience : |
5 years |
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|
Name : |
Ms. Nisha Gupta |
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Designation : |
Director |
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Address : |
67 B, Pocket, IV Mayur Vihar, Delhi, India |
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Date of Birth/Age : |
29.07.1976 |
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Qualifications : |
Master Degree, Public Administration |
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Experience : |
8 years |
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|
Name |
Mr. Girish Devdas
Prabhu |
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Designation |
Director |
|
Address |
E-9, Bane
Compound, Arthur Road, Tardeo, Mumbai – 400034, Maharashtra, India |
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Date of Birth |
14. 06.1971 |
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Qualification |
H.S.C. |
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Experience |
15 Years |
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Date of Appointment |
30.11.2007 |
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|
Name |
Mr. Rajesh Walke |
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Designation |
Director |
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Address |
2-A, Munshi
Chambers, 3rd Pasta Lane, Colaba, Mumbai – 400005, Maharashtra,
India |
|
Date of Appointment |
21.04.2004 |
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Date of Ceasing : |
05.10.2005 |
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|
Name |
Mr. Shrikant
Shridhar Ranade |
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Designation |
Director |
|
Address |
B-1/2, Yashodhan Society, Chintamani Nagar II, Bibvewadi, Pune –
411037, Maharashtra, India |
|
Date of Birth |
25.11.1947 |
|
Date of Appointment |
12.04.1989 |
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Date of Ceasing |
05.07.2003 |
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|
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|
Name |
Mrs. Vimla Devi |
|
Designation |
Director |
|
Address |
M-16, Kailash Colony, New Delhi – 110048, India |
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Date of Birth |
07.10.1920 |
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Date of Appointment |
01.04.1997 |
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Date of Ceasing |
25.08.2003 |
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|
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|
Name |
Mr. Kurian Utthup
K. |
|
Designation |
Director |
|
Address |
14, Deepali, St.
Cyril Road, Off Perry Road, Bandra, Mumbai – 400050, Maharashtra, India |
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Date of Birth |
07.08.1922 |
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Date of Appointment |
09.01.1984 |
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Date of Ceasing |
30.06.1987 |
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|
Name |
Mr. Sunil
Malhotra |
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Designation |
Director |
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Address |
23, Ishwar
Bhavan, 6th Floor, Churchgate, Mumbai – 400020, Maharashtra, India |
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Date of Birth |
09.10.1965 |
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Date of Appointment |
22.05.1987 |
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Date of Ceasing |
31.03.1990 |
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|
Name |
Mr. Suraj Arora |
|
Designation |
Director |
|
Address |
BP-18, Shalimar Baug, Delhi, India |
|
Date of Birth |
31.12.1954 |
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Date of Appointment |
06.03.1990 |
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Date of Ceasing |
31.12.1992 |
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|
|
|
Name |
Mr. Harish R.
Baliga |
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Designation |
Director |
|
Address |
921, Saraswathy Building,
Kennedi Bridge, Mumbai – 400004, Maharashtra, India |
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Date of Birth |
30.09.1963 |
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Date of Appointment |
10.06.1993 |
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Date of Ceasing |
30.04.1997 |
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|
Name |
Mr. Satish Puri |
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Designation |
Director |
|
Address |
Plot No. 529, Puri
Niketan, 12th Road, Chembur, Mumbai - 400071, Maharashtra, India |
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Date of Birth |
17.03.1948 |
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Date of Appointment |
05.10.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Shiv Mohan Mukkar |
|
6290 |
|
Mrs. Kiran Mohan |
|
1390 |
|
Mr. Mohnish Mohan |
|
15 |
|
Mr. Harish R. Baliga |
|
15 |
|
Mr. Girish Devdas Prabhu |
|
15 |
|
Mr. Stepheb George |
|
15 |
|
Mr. Deivaraja |
|
10 |
|
|
|
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Total |
|
7750 |
(As on 31.03.2007
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
99.00 |
|
Other top fifty shareholders (other than listed above) |
|
1.00 |
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|
|
|
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Diesel Generator Sets |
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|
Products : |
Electrical Goods |
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Brand Names : |
" Powerman
Powerpack" |
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Agencies Held : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Credit (30-60
days) |
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Purchasing : |
Credit (60-90-100
days) |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
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|
Diesel Bensets |
- |
5000 sets annually |
Utilised 30% of installed capacity |
GENERAL
INFORMATION
|
Supplier : |
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Customers : |
Some of it’s
major customers are:-
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No. of Employees : |
Around 72 |
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Bankers : |
Sakhar Bhavan,
Nariman Point, Mumbai – 400021, Maharashtra, India
Earnest House, Nariman
Point, Mumbai - 400021, Maharashtra, India
Free Press
Journal Marg, Nariman Point, Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
Rs.10.000 Millions From Corporation Bank Limited (As on
31.03.2008) Unsecured Loan - Rs.76.451
Millions |
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|
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|
Banking
Relations : |
Satisfactory |
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|
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Auditors : |
|
|
Name : |
V Nair and
Associates Chartered
Accountants |
|
Address : |
B 13-48, Gurudev
Apartments, Chembur Naka, Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-25296336 |
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Fax No.: |
91-22-25296354 |
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|
|
|
Associates/Subsidiaries : |
Pune, Maharashtra, India Line of Business - Manufactures of Automobile Engine Valves.
A-49, Mohan Co-operative Industrial Area, Mathura Road, New Delhi –
110044, India Line of Business – Sales Services for Power Solutions |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7750 |
Equity Shares |
Rs.100/- each |
Rs.0.775 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.775 |
0.775 |
0.775 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
75.222 |
68.398 |
66.936 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
75.997 |
69.173 |
67.711 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
76.451 |
79.069 |
7.000 |
|
|
TOTAL BORROWING |
76.451 |
79.069 |
7.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
152.448 |
148.242 |
74.711 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16.023 |
7.173 |
7.197 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
18.314 |
15.704 |
18.777 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.562
|
62.448 |
54.128
|
|
|
Sundry Debtors |
83.341
|
49.371 |
108.015
|
|
|
Cash & Bank Balances |
12.836
|
3.083 |
18.494
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
55.454
|
45.181 |
23.955 |
|
Total
Current Assets |
208.193
|
160.083 |
204.592 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
68.502
|
25.993 |
155.855
|
|
|
Provisions |
21.580
|
8.725 |
0.000
|
|
Total
Current Liabilities |
90.082
|
34.718 |
155.855
|
|
|
Net Current Assets |
118.111
|
125.365 |
48.737
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
452.448 |
148.242 |
74.711 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
|
Sales Turnover |
243.982 |
201.783 |
415.679 |
|
|
Other Income |
4.080 |
10.515 |
3.911 |
|
|
Total Income |
248.062 |
212.298 |
419.590 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
10.901 |
2.173 |
14.112 |
|
|
Provision for Taxation |
4.077 |
0.711 |
0.693 |
|
|
Profit/(Loss) After Tax |
6.824 |
1.462 |
13.419 |
|
|
|
|
|
|
|
|
Export Value |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Import Value |
54.023 |
35.325 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
214.244 |
182.952 |
381.523 |
|
|
Administrative Expenses |
15.639 |
14.052 |
12.279 |
|
|
Interest |
0.605 |
1.089 |
0.490 |
|
|
Depreciation & Amortization |
0.614 |
0.711 |
0.694 |
|
|
Other Expenditure |
6.059 |
11.321 |
10.492 |
|
Total Expenditure |
237.161 |
210.125 |
405.478 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
2.75
|
0.69 |
3.20
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.47
|
1.08 |
3.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.86
|
1.30 |
6.66
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.03 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
1.64 |
2.41
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
4.61 |
1.31
|
LOCAL AGENCY
FURTHER INFORMATION
History:
Subject an ISO 9001: 2000 company, was founded in 1984 and serving the
industry for more than 20 years and has a substantial share in Telecom
Industries. The company is engaged in manufacturing of diesel generator sets
rating 10 KVA upto 30 KVA. The company is in process to increase the existing
range upto 3000 KVA diesel generator sets. Subject is establishing business
relationship with manufacturers of diesel engines who have global presence.
From system design to project management to long term power system
maintenance and services, Subject is fully equipped to offer complete power
solution. Their client base is spread across the length and breadth of the
country which is why they have the better understanding to the needs and gives
the treatment accordingly.
Trade References:
- Lister Petter India Private Limited,
Pune
Contact Person: Mr. S G Kulkarni
Mobile No.: 91-9850896029
- Cummins Generators Limited, Pune
Contact Person: Mr. Ajit Joshi
Mobile No.: 91-9850832503
- Acme Engineers, Mr. Lalit Nimade
- N. P. Engineers, Mr. Narendera Nagotkar
PROJECTED BALANCE SHEET (RS.
IN MILLIONS)
|
Liabilities |
2008-2009 (Projected) |
2009-2010 (Projected) |
2010-2011 (Projected) |
|
|
|
|
|
|
Share Capital |
0.800 |
0.800 |
0.800 |
|
Reserve and Surplus |
90.700 |
118.200 |
168.900 |
|
|
|
|
|
|
Loans |
|
|
|
|
Unsecured Loans |
76.500 |
76.500 |
76.500 |
|
|
|
|
|
|
Total |
168.000 |
195.400 |
246.100 |
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
Fixed Assets |
|
|
|
|
Gross Block |
21.700 |
21.700 |
21.700 |
|
Less: Provision for Depreciation |
6.300 |
6.900 |
7.500 |
|
Total |
15.400 |
14.800 |
14.200 |
|
|
|
|
|
|
Investments |
18.300 |
18.300 |
18.300 |
|
|
|
|
|
|
Current Assets, Loans and Advances |
|
|
|
|
Inventories |
40.800 |
53.100 |
71.600 |
|
Sundry Debtors |
66.200 |
89.400 |
125.200 |
|
Cash and Bank |
79.100 |
87.300 |
107.900 |
|
Loans and Advances |
24.900 |
32.400 |
43.700 |
|
|
|
|
|
|
Current Liabilities |
76.800 |
100.000 |
134.800 |
|
|
|
|
|
|
Total |
134.200 |
162.300 |
213.600 |
|
|
|
|
|
|
Total |
168.00 |
195.400 |
246.100 |
PROJECTED PROFIT AND LOSS
ACCOUNT
(RS IN MILLIONS)
|
Particular |
2008-2009 (Projected) |
2009-2010 (Projected) |
2010-2011 (Projected) |
|
|
|
|
|
|
Income Sales |
322.300 |
435.200 |
609.200 |
|
Total |
322.300 |
435.200 |
609.200 |
|
|
|
|
|
|
Expenditure |
|
|
|
|
Cost of Goods
Sold |
270.800 |
352.500 |
475.200 |
|
Employees remuneration |
6.400 |
8.700 |
12.200 |
|
Bank Charges |
1.100 |
1.500 |
2.100 |
|
Establishment Expenses |
13.500 |
21.800 |
30.500 |
|
Business promotional Expenses |
6.400 |
8.700 |
12.200 |
|
Total Expenses |
298.300 |
393.200 |
532.100 |
|
|
|
|
|
|
EBITDA |
24.000 |
42.000 |
77.100 |
|
Depreciation |
0.600 |
0.600 |
0.600 |
|
EBIT |
23.400 |
41.400 |
76.500 |
|
Provision for Tax |
7.900 |
13.900 |
25.700 |
|
EAT |
15.500 |
27.500 |
50.700 |
|
|
|
|
|
|
Previous year
balance |
75.200 |
90.700 |
118.200 |
|
Earnings transferred
to Balance Sheet |
90.700 |
118.200 |
168.900 |
Assumptions
Sales
Sales are assumed
to be increased by the below mentioned % :
2008-09
30%
2009-10 35%
2010-11 40%
Expenditure
Cost of Goods Sold 84.00%
Employees Remuneration 2.00%
Bank Charges 0.35%
Establishment
Expenses 5.00%
Business
Promotional Expenses 2.00%
Income Tax Assumed
at the rates specified in the Income Tax Act.
Average Debt
Collection Period 75
Days
Average Credit are
Period 90 Days
Directs costs are
traced
All Indirect Costs
have been allocated
Note: Reduction in
Cogs are considered by 2% each progressive year due to the effectiveness and
efficiency
CASH SLOW STATEMENT
(RS IN MILLIONS)
|
Source of Funds |
2008-2009 (Projected) |
2009-2010 (Projected) |
2010-2011 (Projected) |
|
|
|
|
|
|
Opening Balance
of Cash/ Bank |
12.800 |
79.100 |
87.300 |
|
Cash From
Operation |
16.100 |
28.100 |
51.300 |
|
Increase in
Creditors |
(13.300) |
23.200 |
34.800 |
|
|
|
|
|
|
Application of Funds |
|
|
|
|
Increase in
Sundry Debtors |
(17.100) |
23.200 |
35.800 |
|
Increase in
Inventories |
(15.800) |
12.300 |
18.500 |
|
Increase in Loan
and Advances |
(30.500) |
7.500 |
11.300 |
|
|
|
|
|
|
Cash/ Bank at end |
79.100 |
87.300 |
107.900 |
Fixed Assets:
- Land
- Plant and Machinery
- Typewriter
- Air Conditioner
- Air Cooler
- Refrigerator
- Fax Machine
- Xerox Machine
- Electrical Equipment
- Fire Extinguisher
- Furniture and Fixture
- Motor Vehicles
- Computers
- Building
- Office Equipment
- Factory Building
Bankers Charges
Report as per Registry
|
Name of the company |
ASIAN POWER CONTROLS PRIVATE LIMITED |
|
Presented By |
Mr. K. U. Kurian |
|
1) Date and description of instrument creating the change |
Date 01.07.1985 Hypothecation of Goods/
Machinery |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.000 Millions |
|
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 |
Stock in trade
consisting of diesel generators, engines, alternators and other electrical
machinery and spares. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Margin: 25% Rate of Interests
7.5% over RBI Rate subject to a maximum of 17.5% |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of Credit
and Commerce International (Overseas) Limited |
|
6) Date and brief description of instrument modifying the charge |
29th April
1986 Instrument :
Hypothecation of Goods/ Machinery |
|
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. |
Amount secured by
previous charge of Rs.1.000 Millions Now enhanced by Rs.9.000 Millions. And
now total charge being Rs.10.000 Millions and Margin: 25% Rate of Interests
7.5% over RBI Rate subject to a maximum of 17.5% |
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 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.42.71 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.68.02 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
68 |
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 |
|