MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKONA ENGINEERING PRIVATE LIMITED |
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Registered Office : |
WZ 2 23 / A, Gali No 32, Santgarh, New Delhi 110018 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.01.2006 |
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Com. Reg. No.: |
55 144576 |
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CIN No.: [Company
Identification No.] |
U21199DL2006PTC144576 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Importer and Suppliers of Building and Construction
Equipments |
RATING &
COMMENTS
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MIRAs 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 18000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track.
Trade relations are fair. Payments are reported as slow but correct. However, the company can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
WZ 2 23 / A, Gali No 32, Santgarh, New Delhi 110018, India |
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E-Mail : |
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Websites: |
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Ghaziabad Office : |
A 460, Behind Hindon Motels, Hindon Vihar, Delhi Meerut Road,
Ghaziabad 201001, Uttar Pradesh, India |
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Tel. No.: |
91-120-2735004 / 2833334 |
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Mobile No.: |
91-9997012775 / 9719355335 / 9911289710 / 9810316314 |
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Fax No.: |
91-120-2854742 / 91-1332-235039 |
DIRECTORS
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Name : |
Mr. Ram Bharose |
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Designation : |
Director |
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Address : |
59, New Gandhi Nagar, Ghaziabad 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
04.06.1964 |
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Date of Appointment : |
09.01.2006 |
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Name : |
Mr. Anand Sahu |
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Designation : |
Director |
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Address : |
59, New Gandhi Nagar, Ghaziabad 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
11.07.1983 |
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Date of Appointment : |
09.01.2006 |
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Name : |
Mrs. Kamla Sahu |
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Designation : |
Director |
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Address : |
59, New Gandhi Nagar, Ghaziabad 201001, Uttar Pradesh, India |
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Date of Birth/Age : |
08.01.1971 |
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Date of Appointment : |
02.12.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Anand Rathore |
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4000 |
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Mrs. Kamla Sahu |
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3000 |
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Mr. Ram Bharose |
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3000 |
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Total
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10000 |
Equity Share Breakup (Percentage of Total Equity):-
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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, Importer and Suppliers of Building and Construction
Equipments |
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Products : |
·
Fully Automatic Computerised Batching and
Mixing Plant ·
Drum Type Concrete Batching and Mixing Plant ·
Mini Mobile Concrete and Batching Plant ·
Mini Mobile Concrete Batching and Mixing Plant with
3-Bins ·
Pan Type Concrete Batching and Mixing Plant ·
Concrete Mixer Machines
·
Builder Hoist ·
Road Roller ·
Hot Mix Plant ·
Weigh Batcher and Related Spare Parts. |
GENERAL
INFORMATION
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No. of Employees : |
Around 80 |
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Bankers : |
· ICICI Bank Limited, Land Mark Race Course Circle, Vadodara 390007, Gujarat, India E-Mail : pkagg123@rediffmail.com ·
HDFC Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Amod K Gupta and Associates (Mr. Ashok Agrawal) Chartered Accountants |
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Address : |
D 58, East of Kailash, New Delhi 110065, India |
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Association /
Subsidiaries : |
·
Hycon ·
Anand Machinery ·
Mohan Engineering Corporation ·
Anand Engineering Corporation. |
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 |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.125 |
0.100 |
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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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3.468 |
0.207 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.593 |
0.307 |
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LOAN FUNDS |
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1] Secured Loans |
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8.547 |
1.095 |
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2] Unsecured Loans |
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1.083 |
0.380 |
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TOTAL BORROWING |
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9.630 |
1.475 |
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DEFERRED TAX LIABILITIES |
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1.095 |
0.195 |
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TOTAL |
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14.318 |
1.977 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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26.641 |
3.513 |
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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 |
1.050 |
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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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8.699 |
1.046 |
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Sundry Debtors |
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23.162 |
1.700 |
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Cash & Bank Balances |
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1.116 |
0.300 |
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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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3.621 |
1.010 |
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Total
Current Assets |
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36.598 |
4.056 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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48.190 |
6.620 |
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Provisions |
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0.731 |
0.044 |
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Total
Current Liabilities |
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48.921 |
6.664 |
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Net Current Assets |
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[12.323] |
(2.608) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.022 |
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TOTAL |
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14.318 |
1.977 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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110.974 |
6.388 |
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Other Income |
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2.716 |
0.000 |
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Total Income |
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113.690 |
6.388 |
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Profit/(Loss) Before Tax |
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4.867 |
0.446 |
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Provision for Taxation |
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1.606 |
0.239 |
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Profit/(Loss) After Tax |
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3.261 |
0.207 |
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Expenditures : |
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Financial Charges |
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0.444 |
0.011 |
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Other Expenditure |
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108.379 |
5.931 |
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Total Expenditure |
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108.823 |
5.942 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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2.87 |
3.24 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.39 |
6.98 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.70 |
5.89 |
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Return on Investment (ROI) (PBT/Networth) |
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1.35 |
1.45 |
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Debt Equity Ratio (Total Liability/Networth) |
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16.30 |
21.70 |
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Current Ratio (Current Asset/Current Liability) |
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0.75 |
0.60 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporate
identity number (CIN) Foreign company registration number |
U21199DL2006PTC144576 |
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Name of the
Company |
AKONA ENGINEERING
PRIVATE LIMITED |
|
Address |
WZ 23 / A, Gali
No 32 Santgarh, New Delhi 110018 |
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This form is for |
Creation of
Charge |
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Type of Charge |
Hypothecation |
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Particulars of
the charge holder |
ICICI Bank
Limited Land Mark Race
Course Circle, Vadodara 390007, Gujarat E-Mail : pkagg123@rediffmail.com |
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Nature of
instrument creating charge |
Unattested deed
of hypothecation (borrower) |
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Date of
instrument Creating the charge |
19.08.2006 |
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Amount secured by
the charge |
Rs.0.750 million |
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Brief of the
principal terms and conditions |
ROI 5% 35 EMI of
Rs.0.025 million |
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Description of
the property charged indicating |
Plant and
Machinery |
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Date of
Instrument creating charge |
19.08.2006 |
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Particulars of
the property charged (including location of the property) |
Omage Crane |
Web Details
Company Profile
In a developing country like India, the infrastructural development is
at its all time high. Bridges, fly-overs, offices, buildings can be witnessed
to be under construction in every nook and corner. Subject has been
providing exceptional quality building and construction materials since its
inception in the year 1992. Within this period of a decade and half, the
company has carved a niche for itself in the business scenario. They are a
reputed manufacturer, importer and supplier of a range of Building and
Construction Equipments including Fully Automatic Computerized Batching and
Mixing Plant, Concrete Mixer Machines, Hot Mix Plant, Weigh Batcher, etc.
Customer
satisfaction is their primary objective and adequate steps are taken to ensure
that they get nothing short of the best. With 'Quality' being stressed upon,
their professionals thoroughly check the products for their durability and
performance. Their efforts have borne them fruits in the shape of a loyal
clientele, which includes many an industry giant.
Quality
Quality has always been the hallmark in all these 15 years of their
flourishing existence, enabling the customers to swear by their brand. Subject
takes utmost care while purchasing raw materials for reliable suppliers and
vendors of their products. Only supreme grade materials are used while
production. A well qualified team of supervisors keeps a strict vigil over the
entire process, right from the production till the dispatch of goods for sale
in the market. The finished goods undergo an array of approved checks to test
their durability and performance. All these tests are in accordance with the
national as well as international standards and norms.
Infrastructure
Subject has built a robust infrastructure, well equipped with state of
the art machinery, which form their greatest asset. They run on low cost and
therefore, help to bring down their cost of production, thereby facilitating
them to offer their machines at competitive prices to their esteemed consumers.
Their engineers and designers are the backbone of the company. These
professionals are experienced and well versed in their fields of expertise,
thus aiding the company to grow further. The Research and Development
department keeps abreast with all the latest market trends and innovates on the
existing products, to make them more user friendly, thereby making the
construction task easier.
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 Intl
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 companys 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.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
This score serves as a reference to assess SCs 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 |
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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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