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Report Date : |
20.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
A S PRECISION MACHINES PRIVATE LIMITED |
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Registered Office : |
G T Roadmandi Gobindgarh, District Fatehgarh Sahib, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.12.1995 |
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Com. Reg. No.: |
16-17458 |
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CIN No.: [Company
Identification No.] |
U29299PB1995PTC017458 |
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IEC No.: |
3096000701 |
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PAN No.: [Permanent
Account No.] |
AABCA4598B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Supplier of Complete Steel Rolling Mills like
Hot Rolling Mills and Cold Rolling Mills |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
|
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 550000 |
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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. |
INFORMATION PARTED
BY
|
Name : |
Mr. Jitendra Mehta |
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Designation : |
Account Manager |
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Contact No.: |
91-93579+46947 |
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Date : |
17.10.2008 |
LOCATIONS
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Registered Office : |
G T Roadmandi Gobindgarh, District Fatehgarh Sahib, Punjab, India |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Factory /Branch office: |
Bhadla Road, Khanna Side, Mandi Govind Garh, Khanna-141401, Punjab,
India |
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Tel. No.: |
91-1765-256737/ 324647 |
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Fax No.: |
91-1765-253448 |
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Mobile No.: |
91-9814092073/ 9888376117 |
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E-Mail : |
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Website: |
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Area : |
Owned |
DIRECTORS
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Name : |
Mr. Ajit Singh |
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Designation : |
Director |
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Address : |
Warid IV, Shastri Nagar, Mandi Gobindgarh-147301, Punjab, India |
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Date of Birth/Age : |
01.03.1962 |
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Qualification : |
Graduate |
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Date of Appointment : |
19.12.1995 |
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Name : |
Mr. Amarjit Singh |
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Designation : |
Director |
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Address : |
Shastri Nagar, Mandi Gobindgarh, Iatehgarh Sahid, Punjab-147301, India |
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Date of Birth/Age : |
01.04.1951 |
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Qualification : |
Matric |
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Date of Appointment : |
19.12.1995 |
KEY EXECUTIVES
|
Name : |
Anil Jindal and Associates |
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Designation : |
Company Secretary |
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Address : |
63, Rose Enclaves, Civil Lines, Ludhiana, Yash Painter Street,
Ahmedgarh, Punjab, India |
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Date of Birth/Age : |
91-1765-2410386 |
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Name : |
Mr. Jitendra Mehta |
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Designation : |
Account Manager |
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Mobile No. : |
91-93579+46947 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 01.08.2005
|
Names of Shareholders |
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No. of Shares |
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S Amarjit Singh |
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179000 |
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S Charan Singh |
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377820 |
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S Ajit Singh |
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401500 |
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S Babu Singh |
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97000 |
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S Sat Pal Singh |
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182500 |
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Manjit Kaur |
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88000 |
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Jaswant Kaur |
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128000 |
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Mohinder Kaur |
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170000 |
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Kuldip Kaur |
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183900 |
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Sanjay Singh |
|
100 |
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Amarjit Singh (HUF) |
|
10000 |
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Ashok Bansal (HUF) |
|
29000 |
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Prithi chan Bansal |
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19000 |
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Ashvin Kumar HUF |
|
2000 |
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Tarsem Lal |
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15500 |
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Kaur Singh |
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2850 |
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Jaswinder Kaur |
|
9160 |
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Raj Deep Singh |
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14300 |
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Suman Deep Kaur |
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9900 |
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Jaspreet Kaur |
|
9450 |
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Gurdeep Singh |
|
14935 |
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Hardeep Singh |
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14080 |
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Prem Lal |
|
100 |
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Kamlesh Rani |
|
100 |
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Total |
|
1958195 |
As on 31.03.2007
|
List of Allottees |
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No. of Shares Allotted |
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A P Metals |
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100 |
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Universal Steel Tubes |
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100 |
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Shiva Ispat Udyog |
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100 |
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Sheikhu Enterprises |
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100 |
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Regent Steel Industries |
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100 |
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Vibhuti Shares and Stock Private Limited, Ludhiana |
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20000 |
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MRH Finance Company Limited, Delhi |
|
371818 |
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Total |
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392318 |
Equity Share Breakup (Percentage of Total Equity)
As on 29.09.2007
|
Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Supplier of Complete Steel Rolling Mills
like Hot Rolling Mills and Cold Rolling Mills |
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Products : |
Hot Rolling
Mills ·
Fly Wheel Assembly ·
Pulley Assembly ·
Reduction Gear Box ·
Speed Increaser ·
Pinior Stand ·
Steel Rolling Mill Stand ·
Hot Saw Machine ·
Gear Coupling ·
Straightening Machine ·
Shearing Machines ·
Roller Conveyor ·
Forged rolls ·
Automatic Cooling Bed ·
Speed Reducer ·
Sprockets Cold Rolling
Mills ·
Reduction Gear Box ·
Pinion Stand ·
Steel Rolling Mill Stand ·
Gear Couplings ·
Shearing Machines ·
Forged Rolls |
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Exports : |
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Products : |
Hot Rolling Mills and Cold Rolling Mills |
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Countries : |
·
Sri Lanka ·
Bangladesh ·
Nepal ·
Middle East ·
African Countries |
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Imports : |
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Products : |
Machines |
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Countries : |
Russia and America |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s o
Shri Bajrang Alloy Limited, Raipur ( C.G) o
Sangam Structural Limited, Allahbad ( Uttar Pradesh) o
K.L Steels Limited, Ghaziabad (Uttar Pradesh) o
Aarti Steels Limited, Ludhiana o
Sunflag Iron and Steel Company Limited, Bhandara Nagpur o
Viraj Alloys Limited, Tarapur, (District Thane) o
S.K.S Ispat Private Limited, Raipur (C.G) o
Monnet Ispat Limited, Raipur (C.G) o
Bhushan Limited, Chandigarh o
Global Smelters, Kanpur o
Electrotherm India Limited, Ahmedabad o
Rolling Mill Customers o
Straightening Machines Customers o
Shearing Machine Customers |
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No. of Employees : |
300 |
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Bankers : |
Oriental Bank of Commerce |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P.K Goel And Associates Chartered Accountant |
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Address : |
63, Rose Enclaves, Civil Lines, Ludhiana-141001, Punjab, India |
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Holding Company : |
MRH Finance Company Limited, Delhi |
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Group Companies : |
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CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2749433 |
Equity Shares |
Rs. 10/-
each |
Rs. 27.494
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
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|
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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27.494 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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83.028 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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110.522 |
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LOAN FUNDS |
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1] Secured Loans |
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|
0.000 |
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2] Unsecured Loans |
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|
13.111 |
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TOTAL BORROWING |
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13.111 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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123.633 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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45.353 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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42.217 |
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Sundry Debtors |
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52.543 |
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Cash & Bank Balances |
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|
32.425 |
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Other Current Assets |
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|
0.000 |
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Loans & Advances |
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|
30.039 |
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Total
Current Assets |
|
|
157.224 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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|
|
Current Liabilities |
|
|
78.955 |
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Provisions |
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|
0.000 |
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Total
Current Liabilities |
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|
78.955 |
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Net Current Assets |
|
|
78.269 |
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MISCELLANEOUS EXPENSES |
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|
0.011 |
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TOTAL |
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|
123.633 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
359.594 |
239.812 |
112.269 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
359.594 |
239.812 |
112.269 |
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Profit/(Loss) Before Tax |
29.055 |
15.216 |
5.373 |
|
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Provision for Taxation |
7.362 |
3.710 |
0.421 |
|
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Profit/(Loss) After Tax |
21.693 |
11.506 |
4.952 |
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Expenditures : |
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Depreciation & Amortization |
5.401 |
3.406 |
2.255 |
|
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Other Expenditure |
325.138 |
221.190 |
104.641 |
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Total Expenditure |
330.539 |
224.596 |
106.896 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
6.03
|
4.79 |
4.09 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
8.07
|
6.34 |
4.79 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.34
|
NA |
NA |
|
|
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|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
NA |
NA |
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|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.83
|
NA |
NA |
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|
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|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.99
|
NA |
NA |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Excise Registration No.: AABCA 4598 B XM 001 |
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VAT / TIN : 03321084919 |
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IEC Code :3096000701 |
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PAN / TAN : AABCA4598B |
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Bank Name : Oriental Bank of Commerce |
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Bank Address : Mandi, Govindgarh, Punjab |
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Account Since : 2005 |
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In case of any affiliations / memberships / certifications : |
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Name : ISO 9001: 2000 and Engineering Export Promotion Council |
Trade References:
·
Shri Bajrang Alloy Limited, Raipur
·
Sangam Structural Limited, Alahbad, Uttar Pradesh
·
K L Steels limited, Ghaziabad, Uttar Pradesh
·
Aarti Steels Limited, Ludhiana
Bankers Charges
Report as per Registry
|
Name of the company |
A S PRECISION MACHINES PRIVATE LIMITED |
|
Presented By |
Mr. Ajit Singh |
|
1) Date and description of instrument creating the change |
Hypothecation
Agreement dated 20.05.1999 of Cash Credit (Stock) Limit |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.700
Millions |
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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 |
1) Hypothecation
of Stocks and Raw Material, Stock in process, Finished goods, Receivables,
Plant and Machinery and Stores etc 2) Equitable
Mortgage of Factory land measuring 8 Kanals 15 Marlas and 8 Kanal 15 Marlas
situated at Bhadia Road, Alour, Khanna Vide Salke Deed No. 4075 and 4076
dated 18.01.1996 respectively in the
name of company |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
3.07% over Prime Lending Rate with a minimum of P.a. quarterly cents. Margin 25%
Repayable on demand of operation 100% |
|
5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of
Commerce, Mandi Bodinagrh |
|
6) Date and brief description of instrument modifying the charge |
N.A |
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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. |
N.A |
AS PER WEBSITE
Profile:
Subject is an ISO 9001:2000 certified flagship company of A.S. Group of
Enterprises, engaged for the last 25 Years in Consultancy, Manufacturing and
Supply of Complete Steel Rolling Mills in the Country as well as export in Sri
Lanka, Bangladesh, Nepal, Middle East countries and also in certain African
Countries. They manufacture and supply Turnkey Rolling Mills practically in
unlimited range of sizes and product specifications. Nearly 80% of the
Structural Mills installed in India are supplied by the group, producing
Channels, Angles, I and H Beams, maximum upto 600 mm, Heavy RCS and Rounds in
Alloy and Stainless Steel to National and International Standards. Reputed
Indian companies like Prakash Industries, Shri Bajrang Alloys, Monnet Ispat,
Viraj Group of Industries, S.K.S. Ispat, Shah Alloys Limited Industry Power
Limited, Electrotherm (India) Limited , Aarti Steels and Bhushan Steel Limited
are some of the best clients .
Management
The key to success of an organization lies in it's management and this fact
is well followed by them. They have an able management that serves as a base
for the success story. The top level management ensures that –
·
Meeting the customer's statutory and regulatory requirements
·
Establishing and approving the quality policy as per the clause 5.3 of
ISO-9001-2000 norms
·
Establishes quality objectives as in -
·
Conducting management review
·
Providing resources required for implementing and maintaining the
quality management system
Such a high grade Management has enabled them to maintain international
standards of production both in terms of quality, finishing and even
delivering. The management has years of experience in the related field and has
intense knowledge thus all the resources are utilized to it's maximum useful
potential.
The success of an organization lies in it's workforce and how well it is
divided into different divisions for better output. Here they have a dedicated
and committed team of professionals who are dedicated to deliver their best in
their respective field of work thus paving a way to success for the company.
The team is divided into divisions and each division has an in-charge , this
ensures that there is accountability and hence a healthy work environment. The
different important positions are-
Purchase Manager-
·
He arranges the required materials that is required for the production
·
Coordinates with all the departments
·
Maintains the quality records of the company
·
The supplier's performance is monitored and reviewed by him
Production and Quality Control Manager-
·
He is responsible for the activities of all the departments that are
scheduled
·
To achieve planned production by identifying adequate resources
·
To make sure that the quality plans are implemented as are documented
·
To keep an eye on the fact that all the quality checks and inspections
are carried out as required
·
Planning the day to day production procedure
·
To report and take action on any non-conformity
·
Maintenance of quality records of all his departments
Store in charge- He takes care of the raw materials and maintains
the records of raw materials and issues the required materials as and when
required for production or supply.
Management Representative-
·
He is responsible for the establishment of the quality norms according
to the ISO 9001-2000 standards
·
Reports the quality management levels to the commercial director of the
company
·
Conducts the internal audits
Customization
Capabilities
They are known for the innate capability of knowing the customers well
and delivering the goods as per their specific requirements of the clients. A
fact is believed by them that customer satisfaction leads to a successful
business enterprise and thus they strive to achieve to the fullest. Certain
parameters are followed to ensure full customer satisfaction, liked-
·
The customer needs and expectations are well understood while entering
into a contract with the customer this actually ensures appropriate results
·
The clients requirements are well communicated in the different respective
production departments
·
It is aimed to achieve total customer satisfaction by strictly following
the quality management system
The Services
·
The services that they offer to the customers is very unique and are a
complete solution in themselves , the diverse range of services include-
·
A thorough preparation of the proposed and the final layout is done
·
A detailed engineering of the project and the engineering is done
·
They offer roll pass design
·
Working on the existing mill in order to increase the production
capacity
·
To expand and modernize the existing mill in order to increase the
production capacity
·
To supply manpower
·
To train the technical staff
·
Supervising the erection and commissioning of the plant
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.48.68 |
|
UK Pound |
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.65.70 |
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 |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
YES |
|
--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. |
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 |
|