MIRA
INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMA PRIVATE LIMITED |
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Registered Office : |
Canada Building,
244 Dr. D. N. Road, Fort, Mumbai – 400001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.10.1938 |
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Com. Reg. No.: |
11-2850 |
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CIN No.: [Company
Identification No.] |
U51109MH1938PTC002850 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18462D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer and
Importer of Aviation Lighting Equipment. |
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 37000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established company having satisfactory track. Directors are experienced, respectable and resourceful
businessmen. Their trade relations
are fair. Financial position is
good. Payments are usually correct
and as per commitments. The company
can be considered good for any normal business dealings at usual trade terms
and conditions. Mr. Patel, one of
the Directors declined to part any details. |
LOCATIONS
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Registered Office / Head Office : |
Canada Building,
244 Dr. D. N. Road, Fort, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-22075271-2
/ 66396571-2 |
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Fax No.: |
91-22-22078910 |
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E-Mail : |
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Website : |
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Site Office : |
E78 Anand Niketan, New Delhi - 110 021, India |
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Mobile No.: |
91-98111 71088 |
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Factory 1 : |
125/126,
Champaklal Industrial Estate, Sion Koliwada Road, Sion [East], Mumbai – 400022,
Maharashtra, India Contact Person :
Mr. Vijay Rumde, Chief Engineer |
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Tel. No.: |
91-22-24091398 |
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Factory 2 : |
C/1- 266 / 267,
GIDC Industrial Estate, Naroda, Ahmedabad – 382330, Gujarat, India Contact Person : Mr.
Dilip Shah, Works Manager |
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Tel. No.: |
91-79-2811049 /
3568 |
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Branches : |
88 Bangla Sahib Marg, New Delhi - 110 001, India Contact Person : Mr. Gaurav Shorey |
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Tel. No.: |
91-11-2374 2022 / 2374 2522 |
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Fax No.: |
91-11-2334 7922 |
DIRECTORS
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Name : |
Ms. Minal Girish
Patel |
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Designation : |
Chairman cum
Managing Director |
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Address : |
Malabar Court,
Ridge Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
13.10.1939 |
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Date of Appointment : |
01.01.1972 |
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Name : |
Mr. Sameer Girish
Patel |
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Designation : |
Director |
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Address : |
Malabar Court,
Ridge Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
04.02.1967 |
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Date of Appointment : |
01.10.1989 |
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Name : |
Ms. Hema Shroff
Patel |
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Designation : |
Director |
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Address : |
Malabar Court,
Ridge Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
14.09.1964 |
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Date of Appointment : |
06.01.1992 |
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Name : |
Ms. Sangeeta
Sameer Patel |
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Designation : |
Director |
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Address : |
Malabar Court,
Ridge Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
25.01.1966 |
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Date of Appointment : |
14.12.1993 |
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Name : |
Mr. Rahul Girish Patel |
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Designation : |
Director |
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Address : |
Malabar Court,
Ridge Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth/Age : |
12.05.1965 |
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Date of Appointment : |
29.09.1983 |
KEY EXECUTIVES
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Name : |
Mr. T. S. Gyani |
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Designation : |
Company Secretary
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 28.09.2007
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Names of Shareholders |
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No. of Shares |
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Rahul G Patel |
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759 |
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Sameer G Patel |
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758 |
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Minal G Patel |
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700 |
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Total |
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2217 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage of
Holding |
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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 Importer
of Aviation Lighting Equipment. |
GENERAL
INFORMATION
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No. of Employees : |
20 |
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Bankers : |
Indian Overseas
Bank HSBC HDFC Bank |
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Facilities : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Pradeep B. Bhatt and Company Chartered Accountants |
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Address : |
53 / 54, Krishna Niwas, 4th Floor, Near Edward Cinema,
Kalbadevi Road, Mumbai – 400 002, Maharashtra, India |
CAPITAL STRUCTURE
As on 28.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2400 |
Equity Shares |
Rs. 1000/- each |
Rs. 2.400 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
69 |
Ordinary Equity
Shares |
Rs. 1000/- each |
Rs. 69.000
Millions |
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210 |
Ordinary Shares |
Rs. 1000/- each |
Rs. 210.000
Millions |
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Total |
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Rs. 2.217 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 |
2.217 |
2.217 |
2.217 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.329 |
3.745 |
3.128 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.546 |
5.962 |
5.345 |
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LOAN FUNDS |
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1] Secured Loans |
5.862 |
6.540 |
3.529 |
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2] Unsecured Loans |
16.268 |
14.245 |
12.188 |
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TOTAL BORROWING |
22.130 |
20.785 |
15.717 |
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DEFERRED TAX LIABILITIES |
0.022 |
0.021 |
0.234 |
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TOTAL |
29.698 |
26.768 |
21.295 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.776 |
6.642 |
4.845 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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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 |
7.188
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5.491
|
4.588 |
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Sundry Debtors |
29.524
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17.146
|
12.303 |
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Cash & Bank Balances |
6.312
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3.418
|
2.567 |
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Other Current Assets |
3.108
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5.059
|
3.888 |
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Loans & Advances |
16.733
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10.204
|
9.832 |
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Total
Current Assets |
62.865
|
41.318
|
33.178 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
34.798
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16.843
|
12.945 |
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Provisions |
6.146
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4.350
|
3.784 |
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Total
Current Liabilities |
40.944
|
21.193
|
16.729 |
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Net Current Assets |
21.921
|
20.125
|
16.449 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
29.698 |
26.768 |
21.295 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
104.231 |
54.936 |
85.143 |
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Other Income |
13.164 |
4.791 |
3.766 |
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Total Income |
117.395 |
59.727 |
88.909 |
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Profit/(Loss) Before Tax |
3.130 |
1.331 |
1.504 |
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Provision for Taxation |
1.546 |
0.714 |
1.183 |
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Profit/(Loss) After Tax |
1.584 |
0.617 |
0.321 |
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Earnings in Foreign Currency : |
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Export Earnings |
13.823 |
NA |
NA |
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Imports : |
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Raw Materials |
26.933 |
NA |
NA |
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Traveling Expenses |
2.079 |
NA |
NA |
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Total Imports |
29.012 |
NA |
NA |
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Expenditures : |
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Manufacturing Expenses |
26.012 |
23.825 |
23.335 |
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Purchases made for re-sale |
88.576 |
34.248 |
60.985 |
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Increase/(Decrease) in Finished Goods |
[1.697] |
[0.903] |
2.181 |
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25% Shares of Loss in AMA Engineering
Company |
0.031 |
0.061 |
0.061 |
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Depreciation & Amortization |
1.343 |
1.165 |
0.843 |
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Total Expenditure |
114.265 |
58.396 |
87.405 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.35
|
1.03 |
0.36
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Net Profit Margin (PBT/Sales) |
(%) |
3.00
|
2.42 |
1.77
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.43
|
2.78 |
3.96
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Return on Investment (ROI) (PBT/Networth) |
|
0.41
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0.22 |
0.28
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Debt Equity Ratio (Total Liability/Networth) |
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8.36
|
7.04
|
6.07 |
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Current Ratio (Current Asset/Current Liability) |
|
1.54
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1.95
|
1.98 |
LOCAL AGENCY
FURTHER INFORMATION
Operations:
The sales during
the year were Rs. 104.231 Millions resulting in net profit of Rs. 1.584
Millions as shown above. The prospects for the activities of the company remain
favourable.
As required by the
companies (disclosures of Particulars in the report of Board of Directors)
Rules 1988, as amended, information pertaining to conservation of energy,
technology absorption and exports is given as Annexuer to this report.
Fixed Assets
- Plant and Machinery
- Office Equipment
- Furniture and Fixtures
- Xerox Machine
- Fax Machine
- Motor Car
- Cycle
- General
Equipments
- Testing
Equipments
- Water Purifier
- Motor Cycles
- Air Conditioner
- Factory Premises gala
- Land
- Factory Building
- Tools and Equipments
- Electrical Installation
- Refrigerator
- Computer and Printer
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Name of the company |
AMA PRIVATE LIMITED |
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Presented By |
AMA PRIVATE LIMITED and Indian Overseas Bank, Fort Branch, Mumbai – 400023 |
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1) Date and description of instrument creating the change |
07.04.2000 Letter of Hypothecation [for securing machineries / goods / book debts] dated 07.04.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 4.500 Millions Together with interest, costs, Charges and expenses which may accrue and be debited to time account form time ot time. Facility: Inland Letter of Credit on 30 days on Terms |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of Machineries/ goods which have already been fixed or lying loose in the premises of the company at Delhi and the machineries/ goods which are hereafter fixed in or brought into the said premises in addition to the machinery/ Machineries/ goods or by way of substitution for and in lieu of any Machineries/ goods which may form time to time be replaced or due repayment of the loan by the company to the bank by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest/ Commission/ Discount will be charged as per the loan documents, if any ,executed to be executed by the company and or as per th bank rules / Guidelines |
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5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400023, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
Nil |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Nil |
WEBSITE DETAILS
BREAKING
NEWS - AMA has been
awarded projects for Airfield Lighting as well as Visual Docking Guidance for Hyderabad
International Airport Limited, the new greenfield, private airport under
construction in India.
AMA has had a
banner year in 2005, starting with the commissioning of 19 Visual Dockling
Guidance Systems for Mumbai Airport followed by orders for Calcutta, Cochin and
New Delhi. In addition, important projects include Supply and Installation of
Exel masts for main Delhi Approach, Cat-III Taxiway Lighting for Delhi Airport
and Cat-I lighting equipment for various airports including Nagpur, Ahmedabad and
Kolkatta.
AMA will go into
2006 with both Hyderabad projects as well as a complete Cat-I lighting system
project for Etawah Airport (near Agra) and a Cat-III taxiway lighting for the
new parallel taxiway at Delhi.
PROFILE
AMA, the pioneer in
the field of Aviation Lighting in India, was established in the year 1940. They
started importing and manufacturing Aviation Lighting Equipment in 1962, and
since then they have had the privilege of supplying their wide range of
equipments to virtually every civil and several defence airports throughout
India.
From the very
beginning, their goal has been to manufacture the highest quality Airfield
Lighting Equipment in India. Today, their staff of 105 persons in their Mumbai,
New Delhi and Ahmedabad Offices and their Sion and Ahmedabad Works is headed by
the Managing Director, Mrs. Minal Patel, and their Directors, Mr. Rahul Patel
and Mr. Sameer Patel who are based in their Head Office and Mr. Kamal Kapur who
is based in their Delhi Office. They have 5 engineers at their Sion and
Ahmedabad Works and 10 site engineers to provide back-up and maintenance for
all equipment supplied by them. Furthermore, they also have several specialist
consultants who help us modify/develop their products to the latest international
standards. In recognition of the standard of their products and their
contribution to Airport Lighting in India, AMA had been appointed on the panel
of the Indian Standards Institution for airfield lighting equipment.
Their technical
excellence and commercial integrity has made AMA the undisputed leader in this
field in India.
Their entire range
of products has been tested and approved by the Directorate of Technical
Development and Production (Air), Ministry of Defence before induction into the
Military, and by CRI and other Government approved independent labs routinely.
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. 48.79 |
|
UK Pound |
1 |
Rs. 75.41 |
|
Euro |
1 |
Rs. 61.48 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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/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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|