MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
ALFA ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
65/9-10, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.04.1997 |
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Com. Reg. No.: |
08-22150 |
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CIN No.: [Company
Identification No.] |
U26941KA1997PTC022150 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA03713D |
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PAN No.: [Permanent
Account No.] |
AACCA3586E |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer of Roofing Materials |
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 70000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Ms. Chandrika, Accountant denied to provide any details. Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payments are usually correct and
as per commitments. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION DECLINED BY
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Name : |
Ms. Chandrika |
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Designation : |
Accountant |
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Date : |
20.10.2008 |
LOCATIONS
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Registered Office : |
65/9-10, |
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Tel. No.: |
91-80-22271298 / 22236249 / 22237950 / 22237928 / 40717111 to 7120 |
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Fax No.: |
91-80-22222282 / 22237950 / 40717121 |
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E-Mail : |
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Website : |
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Corporate Office
: |
Old # 551/18/A, New |
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Tel. No.: |
91-44-26201411 / 26203734 / 55496442 |
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Factory : |
Alfa Steel building Solutions |
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Tel. No.: |
91-4344-648555 / 645075 |
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Mobile No.: |
91-9945198849 |
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Fax No.: |
91-434-7233497 |
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Branches : |
Located at ·
Chennai ·
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DIRECTORS
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Name : |
Mr. Vinod Kumar Paruthi |
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Designation : |
Chairman |
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Address : |
No. 16, 35th Main, Dollars Colony, BIM Layout, 1st
Stage, |
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Date of Birth/Age : |
04.03.1952 |
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Date of Appointment : |
23.04.1997 |
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Name : |
Mr. Manav Paruthi |
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Designation : |
Director |
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Address : |
No. 16, 35th Main, Dollars Colony, BIM Layout, 1st
Stage, |
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Date of Birth/Age : |
21.06.1978 |
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Date of Appointment : |
23.04.1997 |
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Name : |
Mr. Monty Paruthi |
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Designation : |
Director |
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Address : |
No. 1303, 24th Cross, 28th Main, Banashakari, 2nd
Stage, |
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Date of Birth/Age : |
26.01.1980 |
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Date of Appointment : |
01.04.1998 |
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Name : |
Ms. Misha Paruthi |
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Designation : |
Director |
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Address : |
No. 16, 35th Main, Dollars Colony, BIM Layout, 1st
Stage, |
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Date of Birth/Age : |
16.06.1981 |
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Date of Appointment : |
01.07.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
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Vinod Kumar Paruthi |
390100 |
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Manav Paruthi |
256900 |
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Monty Paruthi |
50000 |
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Misha Paruthi |
23000 |
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Raju Paruthi |
135000 |
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Neetu Paruthi |
50000 |
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Sadhana Paruthi |
95000 |
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Total |
1000000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Roofing Materials |
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Products : |
Roofing Materials |
GENERAL INFORMATION
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Suppliers : |
·
Centurywels Roofing India Private Limited ·
Colour Roof ·
Fibre Glass Emporium – ·
GE Plastic India Limited – Chennai ·
GE Plastic India Limited – ·
Lotus Roofing Private Limited ·
N B Marketing ·
Orion Asphalt Private Limited ·
Satyam Steel Roof ·
U P Twiga Fibreglass Limited ·
Swastik Roofings Limited ·
Victory Aluminium ·
·
Ibrahim Sha Traders ·
Jai Bharath Steels ·
Rockwool India Limited ·
Amudha Decors |
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Customers : |
·
Ajay Enterprises ·
Alfa Industries ·
Natural Textiles ·
Gokuldas India Private Limited ·
SJR Infrastructures ·
BVV Sangha ·
Classic Steel ·
Essar Enterprises ·
Golden Dew Tea Factory ·
Hinduja Trading Company ·
Indiranagar Club ·
K M Jayakumar Reddy ·
Kaveri Switchgear ·
K M C Construction Limited ·
Kumar Nirman and Nivas ·
Manjunatha Gowda ·
Mathias Aluminium System Private Limited ·
Megha Agrotech Private Limited ·
M R Reddy |
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Bankers : |
·
Axis Bank Limited Advances Cell, No. 6/A, ·
Vijaya Bank N R Road Branch, ·
IDBI Bank ·
ICICI Bank ·
ABN Amro Bank NV ·
Oriental Bank of Commerce ·
HDFC Bank ·
American Express Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
H V Shah Chartered Accountants Address : No. 52, 3rd
Cross, Okalipuram, ·
Gopinath and Associates Chartered Accountants Address : 301, Kumar Paradise, Tel
No.: 91-80-26610748 Fax
No.: 91-80-26610744 |
CAPITAL STRUCTURE
(As on 31.03.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
200 |
Equity Shares |
Rs.10/- each |
Rs.0.002 million |
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999800 |
Equity Shares Fully paid up Current Year |
Rs.10/- each |
Rs.9.998 millions |
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Total |
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Rs.10.000
millions |
[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 |
10.000 |
0.002 |
0.002 |
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2] Share Application Money |
0.000 |
0.240 |
0.240 |
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3] Reserves & Surplus |
4.089 |
3.127 |
1.619 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.089 |
3.369 |
1.861 |
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LOAN FUNDS |
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1] Secured Loans |
16.929 |
6.892 |
2.315 |
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2] Unsecured Loans |
0.139 |
23.917 |
10.778 |
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TOTAL BORROWING |
17.068 |
30.809 |
13.093 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.036 |
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Others (Loans) |
0.000 |
0.000 |
3.384 |
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TOTAL |
31.157 |
34.178 |
18.374 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
18.856 |
9.910 |
4.813 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.062 |
0.131 |
0.022 |
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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 |
8.906
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7.603 |
6.592 |
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Sundry Debtors |
26.329
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19.509 |
5.982 |
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Cash & Bank Balances |
2.089
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0.391 |
0.799 |
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Other Current Assets |
0.000
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0.000 |
7.580 |
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Loans & Advances |
12.895
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24.569 |
7.888 |
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Total
Current Assets |
50.219
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52.072 |
28.841 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
35.138
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27.860 |
4.395 |
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Provisions |
2.844
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0.078 |
10.910 |
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Total
Current Liabilities |
37.982
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27.938 |
15.305 |
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Net Current Assets |
12.237
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24.134 |
13.536 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.003 |
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TOTAL |
31.157 |
34.178 |
18.374 |
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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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ther Income |
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0.000 |
0.000 |
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Total Income |
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242.146 |
198.718 |
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Profit/(Loss) Before Tax |
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3.728 |
2.632 |
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Provision for Taxation |
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2.767 |
1.124 |
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Profit/(Loss) After Tax |
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0.961 |
1.508 |
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Expenditures : |
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Financial charges |
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5.563 |
6.695 |
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Depreciation & Amortization |
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1.412 |
0.887 |
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Other Expenditure |
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231.443 |
188.504 |
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Total Expenditure |
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238.418 |
196.086 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.40
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0.76 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.54
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1.32 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.40
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4.25 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.26
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0.78 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.91
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17.44 |
15.26 |
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Current Ratio (Current Asset/Current Liability) |
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1.32
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1.86 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
Form No. 8
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Corporate
identity number of the company |
U26941KA1997PTC022150 |
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Name of the
company |
ALFA ENTERPRISES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
65/9-10, |
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This form is for |
Creation of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
Axis Bank Limited Advances Cell, No. 6/A, |
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Nature of
instrument creating charge |
·
Memorandum
of Entry ·
Sanction
Letter |
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Date of
instrument Creating the charge |
20.09.2007 |
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Amount secured by
the charge |
Rs.20.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate
of interest Axis Bank PLR – 2.00%, presently at 13.00% p.a. (Floating) compounded
at monthly rests. Penal Interest – 2.00% p.m. ·
Terms
of repayment 120 Equated monthly instalments
of Rs.0.299 million towards payment of principal and interest w.e.f.
20.10.2007 ·
Margin Not Fixed ·
Extent
and operation of the charge To cover loan amount plus costs, expenses, interest and other
incidentals |
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Particulars of
the property charged |
Equitable
mortgage of the Company’s immovable properties bearing new no. 44/1 (Old No.
44/1, 44/2, 44/3 and 44/4 formerly portion of Old No. 44) PID No. 47-45-44/1
situated at Narasimha Raja Road, Bangalore City BBMP Ward No. 47,
Dharmarayaswamy Temple Range, Bangalore admeasuring 6338.50 Sq. ft. morefully
described in second schedule of Memorandum of Entry. |
Performance
The Company has achieved total turnover of Rs.240.843 millions and net
profit after tax of Rs.0.961 million during the financial year ending on
31.03.2007. The turnover and the profitability for the first five months of the
current year are at the same level compared to the last year.
Contingent Liabilities
·
The company has given bank
guarantee to Juraong Infrastructure India Private Limited for Rs.0.203 million.
There is no development of any liability during the year on this bank
guarantee.
·
The company has given
guarantee on housing loan taken by Directors to the extent of Rs.7.000 millions
to ICICI. There is no development of any liability during the year on this bank
guarantee.
Fixed Assets
·
Land
·
Building
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Plant and Machinery
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Motor Vehicles
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Furniture and Fixtures
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Office Equipments
·
Computers
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.48.83 |
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|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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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 |
|
47 |
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 |
|