MIRA
INFORM REPORT
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Report Date : |
12.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACER ENGINEER PRIVATE LIMITED |
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Registered Office : |
104/1, Kodi Chikkamahalli Road, Begur Road Cross, Bangalore – 560068,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
03.11.1995 |
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Com. Reg. No.: |
08-19109 |
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CIN No.: [Company
Identification No.] |
U28110KA1995PTC019109 |
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IEC No.: |
0702017086 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA09117D |
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PAN No.: [Permanent
Account No.] |
AADCA5367N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Export of Material Handling Equipment. |
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 3000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. The company is poor in Corporate Governance. It’s payments are reported as slow but correct. The company can be considered for small to mediocre business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Virendra Sharma |
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Designation : |
Director |
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Contact No.: |
91-9342585034 |
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Date : |
08.11.2008 |
LOCATIONS
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Registered Office/ Factory : |
104/1, Kodi Chikkamahalli Road, Begur Road Cross, Bangalore – 560068,
Karnataka, India |
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Tel. No.: |
91-80-25736126/ 25731590/ 56060112/ 2533043/ 56960112 |
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Mobile No.: |
91-9342585034 |
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Fax No.: |
91-80-25733043 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. ft. |
DIRECTORS
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Name : |
Mr. Virendra Sharma |
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Designation : |
Director |
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Date of Birth/Age : |
42 years |
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Qualification : |
Mechanical Engineer |
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Name : |
Mrs. Sunita Sharma |
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Designation : |
Director |
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Date of Birth/Age : |
35 years |
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Qualification : |
B. A., Graduate |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2005)
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Names of Shareholders |
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No. of Shares |
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Virendra Sharma |
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25000 |
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Sunita Sharma |
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25000 |
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Total |
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50000 |
(As on 31.03.2006)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Export of Material Handling Equipment. |
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Products : |
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Exports : |
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Products : |
Material Handling Equipment. |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit (30 days) T/T |
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Purchasing : |
L/C, T/T |
GENERAL
INFORMATION
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Customers : |
End Users
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Suppliers : |
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No. of Employees : |
18 |
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Bankers : |
BTM Layout Branch, Banagalore – 560068, Karnataka, India
J. C. Road Branch, Bangalore – 560002, Karnataka, India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
N. N. R. and Company Chartered Accountant |
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Name : |
S. P. Gupta and Company Chartered Accountant |
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Address : |
No.176, Bankiranrb Lane, S. P. Road Cross, Bangalore – 560002,
Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No latest financials are available as presumably, the company has not
prepared the same.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.191 |
0.077 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.691 |
0.577 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.691 |
0.577 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.794 |
0.764 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.715 |
0.464 |
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Sundry Debtors |
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0.346 |
0.320 |
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Cash & Bank Balances |
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0.001 |
0.001 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.517 |
0.125 |
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Total
Current Assets |
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1.579 |
0.910 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.526 |
1.055 |
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Provisions |
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0.173 |
0.063 |
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Total
Current Liabilities |
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1.699 |
1.118 |
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Net Current Assets |
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(0.120) |
(0.208) |
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MISCELLANEOUS EXPENSES |
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0.017 |
0.021 |
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TOTAL |
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0.691 |
0.577 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover |
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4.354 |
3.374 |
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Other Income |
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0.004 |
0.004 |
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Total Income |
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4.358 |
3.378 |
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Profit/(Loss) Before Tax |
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0.129 |
0.053 |
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Provision for Taxation |
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0.014 |
0.004 |
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Profit/(Loss) After Tax |
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0.115 |
0.049 |
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Expenditures : |
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Cost of Goods Sold |
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2.591 |
2.229 |
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Freight Expenses |
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0.071 |
0.016 |
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Operating Expenses |
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1.232 |
0.866 |
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Miscellaneous Expenses |
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0.281 |
0.172 |
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Depreciation & Amortization |
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0.054 |
0.042 |
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Total Expenditure |
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4.229 |
3.325 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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2.64 |
1.45 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.96 |
1.57 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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5.44 |
3.17 |
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Return on Investment (ROI) (PBT/Networth) |
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0.19 |
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.46 |
1.94 |
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Current Ratio (Current Asset/Current Liability) |
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0.93 |
0.81 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Excise Registration No.: AABCA5367N XM001 |
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VAT / TIN : 29480062410
( Confirmed by the management but can’t verify online) |
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IEC Code : 0702017086 |
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PAN / TAN : AADCA5367N |
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Bank Name : Bank
of Baroda |
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Bank Address : BTM
Layout Branch |
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Bank A/c. No.: 29600500000001 |
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Account Since : 1
years |
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In case of any affiliations / memberships / certifications
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Name : ISO |
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Type : 9001:2011 |
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Expiry Date : December,
2008 |
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CST No.: 11278183
Date: 07.03.1996 |
Trade Reference:
- Suprajit
automotive Private Limited
- Mascast,
Mumbai
Form 8:
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Corporate
identity number of the company |
U28110KA1995PTC019109 |
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Name of the
company |
ACER ENGINEER PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
104/1, Kodi Chikkamahalli Road, Begur Road Cross, Bangalore – 560068,
Karnataka, India |
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This form is for |
Creation of charge |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Bank of Baroda BTM Layout Branch,
Bangalore – 560068, Karnataka, India |
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Nature of
instrument creating charge |
Composite
Hypothecation Agreement |
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Date of
instrument Creating the charge |
12.11.2007 |
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Amount secured by
the charge |
Rs.4.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: 0.00% above BPLR
at Present 13.25% Terms of
repayment: As per composite
Hypothecation Agreement Margin: As per composite
Hypothecation Agreement Extent and
Operation of the charge: As per composite
Hypothecation Agreement |
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Particulars of
the property charged |
Hypothecation of
Stocks, Book debts and machinery situated at the company premises- 104/1,
Kodichikkanahalli Road, Begur Road, Bangalore – 560068 and such other
specified location from time to time. |
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Particulars of
the present modification |
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Fixed Assets:
- Furniture and Fixture
- Santro Car
- Computers
- Office Systems
- Plant and Systems
- Plant and Machinery
- Moulds
- Hand Tools
- Pager
- Fax Machine
Website Details:
Profile:
In November 1995 Subject had put hands to material
handling technology catering to diverse requirements of Indian industries like automotive,
packaging, warehousing, logistics, light engineering, heavy engineering and
granite industries.
With a range of 20 standard models from simple trolley and pallet trucks to the
most sophisticated battery-operated stackers, Company also specializes in custom - built models to
suit special requirements for their customers.
Specially designed features includes rigid but compact construction, narrow
aisle operation complete safety yet easy to operate and totally pollution free.
These equipments require low capital investment and low operating costs which
means a total payback on the investment often in less than one year.
Company trucks are designed and build
to all safety standards and company is certified to ISO - 9001.
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 |
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US Dollar |
1 |
Rs.47.59 |
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UK Pound |
1 |
Rs.74.55 |
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Euro |
1 |
Rs.60.57 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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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 |
YES |
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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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32 |
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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