MIRA INFORM REPORT
|
Report
Date : |
20.06.2008 |
IDENTIFICATION DETAILS
|
Name : |
AIRTECH ENGINEERS AND CONSULTANTS |
|
|
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Registered
Office : |
AP 826, 1st Floor, G- Block, 11th Main
Road, Anna Nagar, Chennai -600040, Tamilnadu |
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Country
: |
India |
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Financials
(as on) : |
31-03-2008 |
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Year
of Establishment : |
2001 |
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|
Legal
Form : |
Sole Proprietory Concern |
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Line
of Business : |
Dealer of Industrial
gas plants and Industrial Equipment. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD 5000 |
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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 Carrier Dealer. Proprietor of the concern is reported
as experienced, respectable and having satisfactory track records. Trade
relations are fair. Payments are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions |
INFORMATION PARTED BY
|
Name : |
Mr. K. S.
Manoharan |
|
Designation
: |
Proprietor |
|
Date : |
18.06.2008 |
LOCATIONS
|
Registered
Office / Head Office : |
B-59, Subhash Nagar, Jaipur - 302016, Rajasthan, India |
|
Tel.
No.: |
91-141-2280162/0611 |
|
Mobile
No.: |
91-9829057078 |
|
Fax
No.: |
91-141-5112077 |
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E-Mail
: |
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|
Area : |
311 Sq. yards |
|
Location : |
Owned (Residence cum Office) |
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|
|
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Factory
/ Branch : |
No. 322, 2nd Floor, Apex Mall, Lal Kothi, Topk
Road, Jaipur-302016, Rajasthan, India |
|
Tel.
No.: |
91-141-5112077 |
|
Area : |
600 Sq. Fts |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. K. S. |
|
Designation
: |
Proprietor |
|
Date
of Birth/Age : |
38 years |
|
Qualification
: |
B.E. Mechanical |
KEY EXECUTIVES
|
Name : |
Mr. Vinit Gupta |
|
Designation
: |
Chief Executive Officer |
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Mobile
No.: |
91-9829057078 |
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Date
of Birth/Age : |
39 years |
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Qualification
: |
B.E.(Mechanical), M.E. (Environmental) |
BUSINESS DETAILS
|
Line
of Business : |
Dealer of
Industrial gas plants and Industrial Equipment |
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|
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|
Products
: |
Window, Split & Ductables |
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|
|
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Agencies
Held : |
Carrier Aircon |
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Imports: |
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|
Products: |
Carbon Molecular sieves |
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Countries: |
Germany and China |
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Terms
: |
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Selling : |
Credit (30 days) |
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|
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Purchasing: |
L/C |
GENERAL INFORMATION
|
Customers
: |
All Industrial and Pharma Companies. |
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No. of
Employees : |
7 |
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|
|
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Bankers
: |
v State Bank Of Bikaner And Jaipur,
Shastri Nagar, Jaipur, Rajasthan v South Indian Bank Limited, Tonk
Road, Jaipur, Rajasthan v Canara Bank, Aana Nagar (East),
Chennai - 600102 |
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|
|
|
Facilities: |
OD Rs. 0.300 Million |
|
Auditors
: |
Mr. P. R. Selvakumar (Chartered Accountant) |
|
Address: |
Chennai |
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Mobile
No.: |
91-9829032593 |
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Sister
Concern: |
v Apoorv Air Control
Address: 322, 2nd Floor, Apex Line of
Business: Dealer of Industrial gas
plants and Industrial
Equipment AIt:
Rs. 20.000 Millions
Capital : Rs. 1.500 Millions |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 0.500 Million |
|
Borrowed : |
0.000 |
|
Total : |
Rs. 0.500 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales
Turnover |
|
17.500 |
9.000 |
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share
Capital |
|
|
(0.165) |
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NETWORTH
|
|
|
(0.165) |
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|
LOAN
FUNDS |
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|
|
|
|
1]
Secured Loans |
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|
- |
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2]
Unsecured Loans |
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|
- |
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TOTAL
BORROWING
|
|
|
- |
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TOTAL
|
|
|
(0.165) |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
|
|
0.217 |
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INVESTMENT
|
|
|
0.158 |
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CURRENT ASSETS, LOANS & ADVANCES
|
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Sundry Debtors
|
|
|
0.027 |
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Cash & Bank Balances
|
|
|
0.038 |
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S.B.B.J. Bank
|
|
|
0.036 |
Total Current Assets
|
|
|
0.101 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
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Creditors
|
|
|
0.626 |
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Current liabilities
|
|
|
0.015 |
Total Current Liabilities
|
|
|
0.641 |
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Net
Current Assets
|
|
|
(0.540) |
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MISCELLANEOUS EXPENSES
|
|
|
- |
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TOTAL
|
|
|
(0.165) |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2005 |
Sales Turnover [including other income]
|
|
|
1.143 |
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Profit Before Tax
|
|
|
0.108 |
Provision for Taxation
|
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|
- |
Profit After Tax
|
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|
0.108 |
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Total Expenditure
|
|
|
1.251 |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2005 |
PAT / Total Income
|
(%)
|
|
|
9.45 |
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Net Profit Margin
(PBT/Sales) |
(%) |
|
|
9.45 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
|
33.96 |
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Return on Investment (ROI)
(PBT/Networth) |
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|
-0.65 |
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Debt Equity Ratio
(Total
Liability/Networth) |
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-3.88 |
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Current Ratio
(Current
Asset/Current Liability) |
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|
|
0.15 |
LOCAL AGENCY FURTHER
INFORMATION
TRUSTSEAL ACCEPTANCE
CHART
|
Parameters |
Detail |
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|
|
|
Statutory Approvals |
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|
Income Tax Registration PAN |
AFKPM1219A |
|
Central Sales Tax Registration |
817099 |
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Vat / Tin Registration |
33861023696 |
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Import Export Code |
0407033815 |
|
Name of Bank |
Canara Bank |
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Current Account Number |
9A – 528 |
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Account Since |
2001 Onwards. |
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Credibility Factors |
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Indiamart Client Since |
4 years |
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Trade Affliations |
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SSI Registration |
Yes |
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Export Promotion Council |
No |
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Chambers of Commerce Membership |
No |
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Standards and
Certifications |
|
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Quality Management Systems |
No |
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Environment Management Systems |
No |
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Safety Certificates |
No |
|
Product Certificates |
No |
|
Other Certificates |
No |
Trade reference –
Local :
v L. N. Mittal Institute, Jaipur
v
M/s.
Apoorv Air Control Profit and Loss A/C
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.42.93 |
|
UK Pound |
1 |
Rs.84.17 |
|
Euro |
1 |
Rs.66.82 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
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
|
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/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 |