MIRA
INFORM REPORT
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Report Date : |
06.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
AADI IMPORTS PRIVATE LIMITED |
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Registered Office : |
406-B, Shapath-IV, Opposite Karnavati Club, Sarkhej
Gandhinagar Highway, Ahmedabad-380 051, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.04.2006 |
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Com. Reg. No.: |
04-48164 |
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CIN No.: [Company
Identification No.] |
U51101GJ2006PTC048164 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA06181A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and Exporters of Steel, Ferrous Metal and Non
Ferrous Metal |
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 24956 |
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Status : |
New Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet in the process of establishing itself.
The company has done satisfactory business, as per its first financials.
Trade relations are reported as fair. Payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions with slight caution initially. |
LOCATIONS
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Registered Office : |
406-B, Shapath-IV, Opposite Karnavati Club, Sarkhej
Gandhinagar Highway, Ahmedabad-380 051, Gujarat, India |
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Tel. No.: |
91-79-6652 7070 |
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Fax No.: |
91-79-6652 7080 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Anish Balmukund Mehta |
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Designation : |
Director |
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Address : |
D / 10, Goyal Plaza, Judges Bunglows Road, Satellite, Ahmedabad –
380015, Gujarat, India |
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PAN No.: |
ABHPM1022E |
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Date of Birth/Age : |
20.10.1975 |
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Date of Appointment : |
21.04.2006 |
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Sole Proprietorship Firm : |
India Exim |
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Email : |
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Name : |
Ms. Manali Mahasukhbhai Adani |
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Designation : |
Director |
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Address : |
9, Maitri Society, Opposite Goyal Tower, Ambawadi, Ahmedabad – 380015,
Gujarat, India |
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PAN No.: |
AAVPA7830M |
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Date of Birth/Age : |
29.04.1977 |
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Date of Appointment : |
21.04.2006 |
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Name : |
Mr. Vadilal Balmukund Mehta |
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Designation : |
Director |
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Address : |
D / 10, Goyal Plaza, Opposite Goyal Park, Judges Bunglows Road,
Satellite, Ahmedabad – 380015, Gujarat, India |
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PAN No.: |
AABPM5654R |
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Date of Birth/Age : |
01.08.1945 |
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Date of Appointment : |
01.01.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Anish Balmukund Mehta |
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5,000 |
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Manali Mahasukhbhai Adani |
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5,000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Importers and Exporters of Steel, Ferrous Metal and Non
Ferrous Metal |
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Product : |
Cables |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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GENERAL
INFORMATION
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Bankers : |
Trishul Opposite Smartheshwar Temple, Law Garden Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dharmesh Parikh and Company Chartered Accountants |
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Address : |
303 / 304, ‘Milestone’, Near Drive-In Cinema, Opposite T. V. Tower,
Thaltej, Ahmedabad – 380054, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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110000 |
Equity Shares |
Rs. 10/- each |
Rs.1.100 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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108500 |
Equity Shares |
Rs. 10/- each |
Rs.1.085
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.085 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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5.154 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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6.239 |
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LOAN FUNDS |
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1] Secured Loans |
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1.670 |
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2] Unsecured Loans |
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1.210 |
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TOTAL BORROWING |
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2.880 |
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DEFERRED TAX LIABILITIES |
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0.101 |
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TOTAL |
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9.220 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.030 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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6.857 |
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Cash & Bank Balances |
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3.986 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.061 |
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Total
Current Assets |
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10.904 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.900 |
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Provisions |
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0.034 |
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Total
Current Liabilities |
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2.934 |
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Net Current Assets |
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7.970 |
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MISCELLANEOUS EXPENSES |
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0.220 |
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TOTAL |
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9.220 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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21.349 |
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Other Income |
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0.052 |
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Total Income |
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21.401 |
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Profit/(Loss) Before Tax |
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0.364 |
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Provision for Taxation |
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0.135 |
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Profit/(Loss) After Tax |
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0.229 |
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Imports Value |
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10.375 |
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Expenditures : |
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Financial Charges |
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0.015 |
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Depreciation & Amortization |
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0.040 |
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Other Expenditure |
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20.982 |
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Total Expenditure |
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21.037 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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1.07 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.70 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.05 |
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Return on Investment (ROI) (PBT/Networth) |
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0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.93 |
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Current Ratio (Current Asset/Current Liability) |
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3.72 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from D / 10, Goyal
Plaza, Judges Bunglows Road, Satellite, Ahmedabad – 380015, Gujarat to the
present address w.e.f. 24.04.2006
BANKERS CHARGES
REPORT AS PER REGISTRY
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U51101GJ2006PTC048164 |
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Name of the
company |
AADI IMPORTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
406-B, Shapath-IV, Opposite Karnavati Club, Sarkhej
Gandhinagar Highway, Ahmedabad-380 051, India |
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Type of charge |
Book Debts |
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Particular of
charge holder |
Axis Bank Limited Trishul, Opposite Smartheshwar Mahadev Temple, Law Garden Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
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Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Deed |
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Date of
instrument Creating the charge |
23.09.2006 |
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Amount secured by
the charge |
Rs. 20.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest will be
charged @ 10 % p.a. [3.00 % below PLR] Terms of repayment As may be decided
by both the parties Margin As may be decided
by both the parties Extent operation of the charge As may be decided
by both the parties |
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Short particulars
of the property charged |
Hypothecation of
Stock and Book Debts and all other movable properties as prescribed in the
attached deed of hypothecation |
AS PER WEBSITE
Profile
A professionally managed organization, Aadi group is committed
to practice highest international standard of business by pursuing excellence
and single minded approach for providing quality to its client based worldwide.
The group has emerged as a player in the highly competitive steel market by
delivering its commitment on timely basis and this has placed the company at a
peak position in its business area. Customer delight drives everything they do
at subject. From order booking to delivery, their information technology
systems are integrated between processes and with suppliers and customers.
Owing to their constant search for perfection in service and quality products,
they have now become a well established name in their line of business. Subject
procures material from different parts of world to provide quality material to
its various clients globally. For subject, quality and time line is the focal
point of every business interaction.
They possess a team of experts who are procuring products of international
standard to keep abreast with the global markets. Their infrastructure helps
them to sustain their success by constantly enabling them to respond to the
demands of the market.
Aadi Group is a global steel and metal trading company with head office in
India and associate offices in US, China, Middle East. Their global reach
brings many benefits. All benefit from the improved purchasing power that scale
offers. All enjoy access to world markets through sales and marketing network
that touches every corner of the globe.
Philosophy
Aadi Group growth has been founded on a consistent
philosophy: that to be able to deliver the range and quality of products
customers demand.
At Aadi they believe that if can anchor the organization with a
single-mindedness of purpose, for providing-the best quality, service to
customers then can deliver higher value for money and continue to thrive even
in immense competition especially in the Steel and Metal industry.
Aadi Group has always sought to be a value-driven organization and believes
that any business conduct can be ethical only when it rests on the core values
of Honesty, Integrity, Unity, Responsibility and Understanding.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.40.29 |
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UK Pound |
1 |
Rs.79.97 |
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Euro |
1 |
Rs.61.23 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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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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. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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