MIRA
INFORM REPORT
|
Report Date : |
21.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANNAPURNA TROLLIES PRIVATE LIMITED |
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Registered Office : |
U-117, Someshwar Park, III Near Gulab Tower, Sola Road, Ahmedabad –
380061, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation |
04.04.1996 |
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Com. Reg. No.: |
029251 |
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CIN No.: [Company
Identification No.] |
U29219GJ1996PTC029251 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Trolleys, ladders and Chimney. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 36888 |
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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 well-established and reputed Company Meeting its normal
Commitments timeously. Trade relations are fair. The Company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Ashwin Trivedi |
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Designation : |
Managing Director |
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Contact No.: |
91-9925233781 |
LOCATIONS
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Registered Office : |
U-117, Someshwar Park, III Near Gulab Tower, Sola Road, Ahmedabad –
380061, Gujarat, India. |
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Tel. No.: |
91-79-28475002 |
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Mobile No.: |
91-9925233781 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Admin. Office : |
312, Anand Managal – II, B/H Omkar house, CG Road, Navrangpura,
Ahmedabad – 380009, Gujarat, India |
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Tel. No.: |
91-79-65124691 |
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Fax No.: |
91-79-26462389 |
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Area : |
820 Sq.ft. |
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Location : |
Owned by Company |
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Factory : |
D- 29/6, Shreeji Estate, Near Satnam Motor Garage, Near Sutrana Karkhana, GIDC, Maroda national Highway,
H-8, Ahmedabad – 382330, Gujarat, India. |
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Tel. No.: |
91-79-65121433/22811308 |
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Area : |
Approx 900 Sq. Yards |
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Location : |
Owned by Company |
DIRECTORS
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Name : |
Mr. Ashwin Trivedi |
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Designation : |
Managing Director |
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Date of Birth/Age : |
30.09.1950 |
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Date of Appointment : |
04.04.1996 |
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Name : |
Mrs. A Nayanaben Trivedi |
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Designation : |
Director |
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Date of Birth/Age : |
18.01.1955 |
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Date of Appointment : |
04.04.1996 |
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Name : |
Mr. A Jagdish Trivedi |
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Designation : |
Director |
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Date of Birth/Age : |
17.02.1958 |
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Date of Appointment : |
04.04.1996 |
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Name : |
Mr. Jitendra Trivedi |
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Designation : |
Director |
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Date of Birth/Age : |
17.05.1960 |
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Date of Appointment : |
04.04.1996 |
KEY EXECUTIVES
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Name : |
Ashok P Pathak and Company |
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Designation : |
Company Secretary |
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Address : |
U-4, Trupti Complex, Opp. Shreeji Petrol Pump, Near Jivraj Park Bus
Stand, Ahmedabad – 380051, Gujarat, India |
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Tel. No. : |
91-79-26631534,26811743 |
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Mobile No. |
91-9327002122 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2007
|
Names of Shareholders |
No. of Shares |
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Mr. Ashwin Trivedi |
108500 |
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Mrs. A Nayanaben Trivedi |
68000 |
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Mr. A Jagdish Trivedi |
26500 |
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Mr. Jitendra Trivedi |
18000 |
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Mrs. Raksha jagdishchandra Trivedi |
4000 |
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Mr. Dave Kaushal Kirit Kumar |
1000 |
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Mr. Divyakant Sadashiv Mehta |
1500 |
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Mr. Hemendra Kumar Chandrakant Mehta |
10000 |
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Mrs. Nirali Mehta |
10000 |
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Mr. Ravi Patil |
1000 |
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Mr. Dhirajlal Shah |
500 |
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Mrs. Santaben Vyas |
1000 |
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Total |
250000 |
Equity share breakup (Percentage of Total Equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors |
90.00 |
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2. |
Other fifty (50) shareholders (other than
listed above) |
10.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Trolleys, ladders and Chimney. |
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Products : |
v
Material Handling v
Lifting and Shifting and Safety Equipments v
Platform
Trolleys v
Box Trolleys
(Plastic and M.S.) v
Cage Trolleys v
Luggage
Trolleys v
Coal / Cement
Plant Trolleys v
Drum Handling
Trolleys v
Wheel Barrows
Trolleys v
Food Handling
Trolleys v
Gas Cylinder Trolleys v
Hydraulic
Pumps and Cylinders v
Conveyors v
E.O.T. and
Hot Cranes
v
Power Transmission Systems v
All Types of
Aluminum Safety Ladders v
Lifting
Cranes and Hoists v
M.S. Rail
Products and Accessories v
Rubber v
Nylon v
Fiber v
P.U. Wheels
and Rollers v
Conveyor
Roller Systems. |
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Exports : |
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Products : |
All Products |
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Countries : |
v Nepal v Bangladesh v Kenya v Myanmar v Burma v Qatar v Saudi Arebia |
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Imports : |
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Products : |
Container |
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Countries : |
China |
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Terms : |
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Selling : |
Cash / Credit (1%) T/T |
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Purchasing : |
Cash, T/T |
GENERAL
INFORMATION
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Customers : |
v PRL v IPCL v ISRO v GAIL v ONGC v GSFC v GNFC v IFFCO v Indian Navy v Indian Airforce v Indian Railway v ICICI Bank v Bank of India v State Bank of India v Reserve Bank of India v Civil Hospital v Intas Pharma v Appolo Hospital v Cadila Healthcare Ltd. v Sterling Hospital Pvt. Ltd. v Torent Pharmaceuticals Ltd. v Zydus Cadila Ltd. v IIMA (Indian Institute of Management) v Reliance Textile Industries v Donear Industries v Nirma Ltd. v Arvind Mills v Asian Paints v Ambuja Cement v
Larsen & Turbo Ltd. v
End Users |
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No. of Employees : |
Around 20 |
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Bankers : |
v ICICI Bank,
Ashram Road Branch, Ahmedabad v Bank of India,
Naroda Branch, Ahmedabad v State Bank of Saurashtra,
Sahakar Niketan Branch, Navrangpura, Ahmedabad |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
v Dinesh H Vadher
and Company, Chartered Accountants 304, Anand Mangal – II, B/H Omkar House, Near
Swastik Char Rasta, CG Road, Ahmedabad – 38009, Gujarat, India. v D G Patel and
Company, Chartered Accountants 203, Surgicare, Opp. Dhinglighar, 21,
Sardar Patel Colony, Naranpura, Ahmedabad – 380014, Gujarat, India. v Deepak T. Zala,
Chartered Accountants CG Road, Ahmedabad Tel
No: 91-79-40050225/26462000 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.500 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.352 |
0.018 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.473) |
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NETWORTH |
2.852 |
2.518 |
2.027 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.136 |
0.500 |
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TOTAL BORROWING |
0.000 |
0.136 |
0.500 |
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DEFERRED TAX LIABILITIES |
0.026 |
0.000 |
0.000 |
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TOTAL |
2.878 |
2.654 |
2.527 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.849 |
0.594 |
0.645 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
1.442 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.326
|
0.320 |
0.214 |
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Sundry Debtors |
0.221
|
0.419 |
0.107 |
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Cash & Bank Balances |
1.486
|
0.566 |
0.941 |
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Other Current Assets |
0.902
|
0.302 |
0.002 |
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Loans & Advances |
0.099
|
0.079 |
1.458 |
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Total
Current Assets |
3.034
|
1.686 |
2.722 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.869
|
0.954 |
0.809 |
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Provisions |
0.137
|
0.116 |
0.037 |
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Total
Current Liabilities |
1.006
|
1.070 |
0.846 |
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Net Current Assets |
2.028
|
0.616 |
1.876 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.003 |
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TOTAL |
2.878 |
2.654 |
2.527 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
9.131 |
7.962 |
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Other Income |
|
0.091 |
0.072 |
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Total Income |
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9.222 |
8.034 |
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Profit/(Loss) Before Tax |
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0.506 |
0.494 |
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Provision for Taxation |
|
0.173 |
0.001 |
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Profit/(Loss) After Tax |
|
0.333 |
0.493 |
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Expenditures : |
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Cost of Goods Sold |
|
6.480 |
5.906 |
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Direct Expenses |
|
0.452 |
0.459 |
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Administrative Expenses |
|
0.778 |
0.757 |
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Personal Expenses |
|
0.820 |
0.301 |
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Financial Charges |
|
0.026 |
0.041 |
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Depreciation & Amortization |
|
0.160 |
0.076 |
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Total Expenditure |
|
8.716 |
7.540 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
3.61
|
6.14 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
5.54
|
6.20 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.49
|
6.15 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.20 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.35
|
0.42 |
0.42 |
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Current Ratio (Current Asset/Current Liability) |
|
3.01
|
1.57 |
3.22 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
Company Started in 1976 as a Partnership firm and get converted to
Private Limited, Since 1996.
Profile
Certain products
such as material handling, safety and power transmission equipment have
application in diverse industrial sectors. Each of these require individual
attention by professionally qualified experts. Subject is a brilliant example of strong team of
experienced, qualified and devoted employees. With their assistance today, they
are leading and renowned manufacturer, exporter and
supplier of all types of Material Handling Equipments and
Systems, all types of Safety Ladders, Trolley Wheels, Hydraulic Pumps and
Cylinders, Conveyor and other Power Transmission System, E.O.T and H.O.T.
Cranes and other Lifting and Shifting Equipments. All the products are as per BIS (Bureau of
Indian Standards) and they are on the verge of acquiring ISO and ISI
certification. With a mission of supplying innovative, productive and
cost-effective goods to the customers, they have been extremely successful in
creating the impact in domestic market. Increased sales in countries like
Kenya, Nepal, Bangladesh, Myanmar, Qatar, Sharjah, etc. signify that they are
gaining popularity in International markets as well.
The esteemed firm
was earlier named ''Annapurna Engineering Works'' and was established by Mr.
Ashvin A. Trivedi in the year 1976. Apart from Mr. Ashvin A. Trivedi, his
brothers Mr. Jagdish A. Trivedi and Mr. Jitendra A. Trivedi, and Mrs. Nayna A.
Trivedi increased the strength and developed the company bit by bit. At
present, the organization is looked after by a professional team headed by Mr.
Jagdish Trivedi. The name ''Annapurna Trollies Pvt. Ltd.'' was adopted in
the year 1996. However, with the changed name, the value system like honest
trade practices, constant efforts towards improvisation of products,
value-for-money products remain intact. The ''Trans World Trade Fare Awards''
and the gold medal awarded to us by Institute of Self-Defence and National
Character (Delhi) are evidence of the authenticity and adherence to the ethics
mentioned above.
Quality and Infrastructure
Being a quality conscious and performance oriented firm, the products undergo
stringent quality checks. These enable us deliver nothing less than the best of
products in terms of quality and durability, to the worthy customers. As a
result, they are able to surpass the expectations of the customers and satisfy
them to the brim.
They are fully equipped with technically qualified group of experts and
ultra-modern machinery, which constitute the state-of-the-art infrastructure.
The best performance of the employees and smooth functioning of the machinery
assists in achieving desired results and match the high standards they have set
for themselves.
Subject is an AHMEDABAD (Gujarat State # INDIA) based leading manufacturer and exporter of various types of material handling equipments & systems, all types of safety ladders, trolley wheels & castor wheels, Hydraulic pumps & Cylinders, conveyor & other power transmission system, E.O.T. & H.O.T. cranes & other lifting & shifting equipments etc. "Every thing from one Place"
Mr. Ashvin A.Trivedi started this company in 1976 and named "Annapurna Engineering Works" Mr. Jagdish A.Trivedi & Mr. Jitendra A.Trivedi his brothers and Mrs.Nayna A.Trivedi increased the strength & developed the company, day by day. In Oct 2004, Mr. Ashvin Trivedi started a company Atpl Infotech Inc. in USA. He & Mrs. Nayana Trivedi moved to USA to take care of the new firm. So right now the company is looked after by a professional team headed by Mr. Jagdish Trivedi
In the year 1996, company became M/S.Annapurna Trolleys Pvt. Ltd. They at Annapurna Trolleys Pvt. Ltd. offer a distinct range of customized, precision equipments of material handling equipments and its parts for various leading clients having all over India. The ensuring passion & commitment has helped us to create a distinct yet reliable strong image in the market.
They are proud of having "TRANS WORLD TRADE FARE AWARDS" for the excellent services and total outstanding performance in the field of material handling.
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 :
The 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.
The 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. 42.72 |
|
UK Pound |
1 |
Rs. 83.96 |
|
Euro |
1 |
Rs. 66.90 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|