MIRA
INFORM REPORT
|
Report Date : |
6.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ASHIRVAD PIPES PRIVATE LIMITED |
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Registered Office : |
4B,Attibele Industrial Area,Anekal Taluk, Hosur Road,Bangalore ,
Karnataka – 562107 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.02.1997 |
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Com. Reg. No.: |
08-21831 |
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CIN No.: [Company
Identification No.] |
U85110KA1997PTC021831 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA01535C |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Manufacturer of PVC
and CPV Pipes and Fittings |
RATING &
COMMENTS
|
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 546475 |
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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 : |
Subject is a well established company having fine track. Directors are
reported as experienced, respectable and having satisfactory means of their
own. Financial position is good. Trade relations are fair. Payments are correct
and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions |
INFORMATION
DECLINED BY
|
Name : |
Mr.Murli |
|
Designation : |
Sr. Accountant |
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Date : |
02.09.2008 |
LOCATIONS
|
Registered Office/Factory: |
4B,Attibele Industrial Area,Anekal Taluk, Hosur Road,Bangalore ,
Karnataka – 562107 |
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Tel. No.: |
91-80-27820542 / 543 / 271 |
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Mobile No.: |
91-9880393432 (Nandini) |
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Fax No.: |
91-80-27820463 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Pawan Poddar |
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Designation : |
Director |
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Address : |
# 621, 3rd Cross, 3rd Block, Koramangala,
Bangalore – 560034, Karnataka, India |
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Date of Birth : |
27.10.1959 |
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Date of Appointment : |
18.02.1997 |
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Name : |
Mr. Deepak Poddar |
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Designation : |
Director |
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Address : |
Flat No. 102/202, ‘F’ Block, ‘Redwood’, Raheja Residency, Koramangala,
Bangalore – 560034, Karnataka, India |
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Date of Birth : |
21.05.1962 |
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Date of Appointment : |
18.02.1997 |
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Name : |
Mr. Vikas Poddar |
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Designation : |
Director |
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Address : |
Flat No. 309/409, ‘G’ Block, Spruce, Raheja Residency, Koramangala,
Bangalore – 560034, Karnataka, India |
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Date of Birth : |
10.04.1964 |
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Date of Appointment : |
18.02.1997 |
KEY EXECUTIVES
|
Name : |
M/s V Sreedharan and Associates |
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Designation : |
Company Secretary |
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Address : |
No.32/33,8th Cross,Wilson Garden , Bangalore - 560027 |
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Tel No: |
91-80-2229039 |
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Fax No: |
91-80-26593314 |
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Mobile : |
91-9845214399 |
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E mail: |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
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Mr. Pawan Poddar |
|
19000 |
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Mr. Deepak Poddar |
|
19000 |
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Mr. Vikas Poddar |
|
19100 |
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Pawan Poddar HUF |
|
14500 |
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Deepak Poddar HUF |
|
14500 |
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Vikas Poddar HUF |
|
14500 |
|
Ashirvad Enterprises Private Limited |
|
100 |
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Ms. Jaya Poddar |
|
100 |
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EQUITY SHARE BREAKUP (PERCENTAGE OF TOTAL EQUITY)
(As on 31.03.2007)
|
Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PVC
and CPV Pipes and Fittings |
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Products : |
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PRODUCTION STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
PVC Pipes |
MT |
3200 |
2363 |
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GENERAL
INFORMATION
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No. of
Employees : |
100 |
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Bankers : |
Elecrtonic City, Bangalore – 560 100
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Banking Relations : |
Satisfactory |
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Auditors : |
Dinesh &
Pushparaj Chartered
Accountants, No. 7, West Gate Point,
77, R. V. Road, Gasavanagudi, Bangalore – 560004, Karnataka, India PAN No. :
AADFD9248G |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on 31.03.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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130000 |
Equity Shares |
Rs.100/- each |
Rs.13.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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126000 |
Equity Shares |
Rs.100/- each |
Rs.12.600 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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|
|
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|
1] Share Capital |
12.600 |
12.600 |
10.080 |
|
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2] Reserves &
Surplus |
96.695 |
59.036 |
40.135 |
|
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3] (Accumulated Losses) |
0.000 |
0.000 |
[10.000] |
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NETWORTH
|
109.295 |
71.636 |
40.215 |
|
|
LOAN FUNDS |
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|
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1] Secured Loans |
132.005 |
98.654 |
105.730 |
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2] Unsecured Loans |
8.483 |
7.133 |
11.704 |
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TOTAL BORROWING
|
140.488 |
105.787 |
117.434 |
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DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.961 |
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TOTAL
|
249.783 |
177.423 |
158.610 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
83.405 |
65.412 |
65.304 |
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Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
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INVESTMENT
|
0.005 |
0.005 |
0.005 |
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DEFERREX TAX ASSETS
|
0.708 |
0.118 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
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Inventories
|
97.501
|
83.744 |
73.495 |
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Sundry Debtors
|
109.169
|
57.519 |
40.006 |
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Cash & Bank Balances
|
6.171
|
2.767 |
1.278 |
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|
Loans & Advances
|
55.743
|
23.768 |
21.520 |
Total Current Assets
|
268.584
|
167.798 |
136.299 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
|
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Current Liabilities
|
102.969
|
56.974 |
43.120 |
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Provisions
|
0.000
|
0.000 |
0.000 |
Total Current Liabilities
|
102.969
|
56.974 |
43.120 |
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Net
Current Assets
|
165.615
|
110.824 |
93.179 |
|
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MISCELLANEOUS EXPENSES
|
0.050 |
0.625 |
0.122 |
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TOTAL
|
249.783 |
177.424 |
158.610 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
472.131 |
403.760 |
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Other Income |
|
13.557 |
0.000 |
|
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Total Income |
|
485.688 |
403.760 |
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|
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Profit/(Loss) Before Tax |
|
26.494 |
4.379 |
|
|
Provision for Taxation |
|
7.593 |
0.000 |
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Profit/(Loss) After Tax |
|
18.901 |
4.379 |
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Expenditures : |
|
|
|
|
|
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Other Expenditure |
|
460.747 |
399.381 |
|
|
Change In Stock |
|
(13.385) |
0.000 |
|
|
Financial Charges |
|
11.832 |
0.000 |
|
Total Expenditure |
|
459.194 |
399.381 |
|
NOTE: 2007 Profit and
Loss Account not available
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
-
|
3.89 |
1.08 |
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Net Profit Margin (PBT/Sales) |
(%) |
-
|
5.61 |
1.08 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
-
|
11.35 |
2.17 |
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Return on Investment (ROI) (PBT/Networth) |
|
-
|
0.36 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.22
|
2.27 |
3.99 |
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|
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|
|
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Current Ratio (Current Asset/Current Liability) |
|
2.60
|
2.94 |
3.16 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
|
Name of the company |
ASHIRVAD PIPES PRIVATE LIMITED |
|
Presented By |
State Bank of
India Elecrtonic City,
Bangalore – 560 100 |
|
1) Date and description of instrument creating the change |
03.03.2003 1)
General Agreement
for the grant of small Industrial Advances and Hypothecation of Movables
,Book Debts and other Assets. 2)
General
Agreement for grant of Medium Term Advances to SSI and Hypothecation of
Movables, Book Debts and other Assets. (Both the Agreements Pertain to the same charge) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.60.200
millions (C.C Sts –Rs.15.000 millions ,C.C Book Debts- Rs.20.000 millions ,TL
-9.400 millions , TL 2 – Rs.2.300 millions and TL 3 – Rs.13.500 millions) |
|
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 |
All Present and
Future Goods Book debts, Movables and other Assets of the Borrower including
documents of title to goods and other assets such as Outstanding
Moneys,Receivables, Claims,Bills, Invoices,Documents Securities,Contracts, Engagements,Investments,Rights
and the present machinery and all
future machinery belonging to or in the possession of or under the control of
the borrower wherever lying,stored and kept and whether in possession of the
borrower or of the Bank or of any third party,whether in India or elsewhere
throughout the world (including all such goods, machineries ,movables and
other assets as may be in course of shipment ,transit or delivery). Machineries
purchased /to be purchased / kept/to be kept in the factory premises of the
company. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest: CC – At 2.10 % above SBAR with a minimum
of 12.85% per annum with periodical rests or at such rates as the Bank may
specify from time to time. FCNB – DL at 2% over LIBOR on fully hedged basis
for a period of 6 months. MTL 1,2 and 3 –At
1.6% over SBMTLR with a minimum of 12.85% per annum with periodical rests or
at such rests as the Bank may specify from time to time Margin: 25% on RM/SIP/FG/Rec./TL 3. Repayment: CC –on Demand Repayment: : TL 1- In 47 Equal Monthly Instalments
of Rs.0.200 millions each commencing one month from the date of disbursement. TL 2- In 10
Quarterly Instalments of Rs.0.050 million commencing from June , 2003. TL 3 – In 54 Equal
Monthly Instalments of Rs.0.250 millions each commencing from June ,2003 |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank Of
India Elecrtonic City,
Bangalore – 560 100 (A Banking
Company) |
|
6) Date and brief description of instrument modifying the charge |
Date :03.03.2005 1)
Supplemental
General Agreement for the grant of small Industrial Advances and
Hypothecation of movables,Book Debts and other Assets. 2)
Equitable
Mortgage by Deposit of Title Deeds –Extension of Letters confirming Deposit
of title Deeds – Form “B” 5 Nos.enclosed
(All the above pertain to the same charge) |
|
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. |
1)
The total
amount secured by the charge stands modified to Rs.128.700 millions { CC
Stocks and CC Rec Rs. 32.500 millions each ; LC Rs.10.000 millions , SLC –
Rs.10.000 millions (WCL renewed from Rs. 70.000 millions to Rs. 85.000
millions) Existing TLs renewed at the existing outstanding balance – TL 1
Rs.3.900 millions , TL 2 Rs. 6.100 millions , TL 3 Rs. 9.000 millions and TL
4 Rs.30.200 millions 2)
The
securities alredy obtained – Current Assete – Stocks
goods,bookdebts,receivables ,other movables ,machineries present and future
all immovable properties situated at various places continue to be available,
for the modified limit of Rs.128.700 millions 3)
Rate of
interest: WCL – 0.75% below SBAR; effective rate 9.50% per annum with
periodical rests as stipulated by the Bank. (All other terms and conditions remain unchanged) |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90199611 |
|
Corporate
identity number of the company |
U27201KA1997PTC021831 |
|
Name of the
company |
ASHIRVAD PIPES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
4B,Attibele Industrial Area,Anekal Taluk, Hosur Road,Bangalore ,
Karnataka – 562107,India |
|
Type of charge |
Immovable Property Book debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
State Bank of
India Elecrtonic City
Branch, #26/A Hosur Road ,Bangalore – 560 100 ,Karnataka ,India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Agreement of Hypothecation of goods and Assets for increase in the Overall
Limit. Supplemental
Agreement of Loan for increase in the Overall Limit. Letter Regarding
the Grant of individual Limits The Overall Limit Memorandum for
recording Extension of Mortgage by deposit of Title by deposit covering
enhanced limits |
|
Date of
instrument Creating the charge |
08.01.2007 |
|
Amount secured by
the charge |
Rs.145.200
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
a)
Rate of Interest Interest @11.50% for Working Capital Limit and for Term Loan @14% per
annum. b)
Terms of Repayment Working Capital Limit Repayable on Demand. Corporate Loan Repayable in 23 Monthly installments Rs.0.350 millions
and Last Installments as Rs 0.450 millions c)
Margin Margin 25% on Raw Material ,Stock in Process , Finished Goods
,Corporate Loan ,Book Debts,Land and Buildings / Plant and Machinery d)
Extent and operation of the charge The charge is Operated by Hypothecation Movable Property and Equitable
Mortgage of Property |
|
Short particulars
of the property charged |
Hypothecation Of
All The Present And Future Stocks Of Raw Materials ,Semi Finished Goods ,Book
Debts, All Other Current Assets And Hypothecation Of Plant And Machinery Like
CNC Machine ,Lathe Machine ,Polishing Machine ,Paring Lathe Machine ,Belling
Machine ,Genset,Compressor,Big Chilling Plant Etc.And Extension Of Equitable
Mortgage Of Property Continues. |
|
Date of latest
modification prior to the present modification |
23.09.2006 |
|
Particulars of
the present modification |
Addi Corporate
loan of Rs.8.500 millions Given. Total Limit increased from Rs.136.700
millions to Rs.145.200 millions (CC- Hyp Stks Rs.27.500 millions , CC-Hyp of
BK-Rs.42.500 millions,TL-III-Rs.3.700 millions ,TL-IV-Rs.15.000 millions
,TL-V-Rs.11.500 millions,TL-VI-Rs.16.500 millions, Corporate Loan Rs.10.000
millions, stand Line of Credit Rs.10.000 millions) .All other Terms,
conditions and Securities including Equitable Mortgage of Property and Hypothecation
of Movables Continues. |
|
Name of the
company |
ASHIRVAD PIPES
PRIVATE LIMITED |
|
Presented
By |
4-B, Attiblele Industrial Area, Hosur Road, Bangalore – 562107,
Karnataka |
|
1) Date and description
of instrument creating the change |
18.12.1997 Hypothecation
Agreement |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 5.500 millions |
|
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
plant and machineries proposed to be acquired belonging to the company |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 15.81% p.a. Margin applicable Repayable in 48 equal monthly instalments with initial repayment
holiday of 6 months. Interest to be
collected as and when debited |
|
5) Name and Address
and description of the person entitled to the charge. |
Vijaya Bank Mayohall Branch, Bangalore – 560001 |
|
6) Date and brief description of instrument
modifying the charge |
N.A. |
|
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. |
|
Name of the
company |
ASHIRVAD PIPES
PRIVATE LIMITED |
|
Presented By |
Vijaya Bank, Mayohall Branch, M.
G. Road, Bangalore – 560001 |
|
1) Date and
description of instrument creating the change |
29.09.1999 Hypothecation
Agreement |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.725 millions |
|
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 |
Hyp. of
machineries, fixtures, etc belonging to the company |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 16.83% pa Margin as applicable Repayable in 48 equal monthly installments of Rs. 0.054 millions with
six months moratorium |
|
5) Name and
Address and description of the person entitled to the charge. |
Vijaya Bank Mayohall Branch, M. G. Road, Bangalore – 560001, Karnataka, India |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
|
Name of the
company |
ASHIRVAD PIPES
PRIVATE LIMITED |
|
Presented
By |
Vijaya Bank, Mayohall Branch, M. G. Road,
Bangalore – 560001 |
|
1) Date and description
of instrument creating the change |
10.03.2001 Agreement Memorandum [Letter
evidencing re-deposit of title deeds] [Both documents
relate to single charge] |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.100 millions |
|
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 |
Factory shed &
generator room proposed to be constructed at existing factory Plot No. 4-B,
KIADB Industrial Area, Attibele at Bangalore, Extension of equitable mortgage
created by deposit of title deeds on companies immovable properties at
Attibele Industrial Area, Anekal Taluk, Bangalore District to continue |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 16.50% pa Margin as applicable Repayable in 2nd of every month beginning 2nd
October, 2001 for Rs. 0.028 millions each |
|
5) Name and Address
and description of the person entitled to the charge. |
Vijaya Bank Mayohall Branch, M. G. Road, Bangalore – 560001, Karnataka, India |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
|
Name of the
company |
ASHIRVAD PIPES
PRIVATE LIMITED |
|
Presented By |
Vijaya Bank, Mayohall Branch, M. G. Road,
Bangalore – 560001 |
|
1) Date and
description of instrument creating the change |
17.12.1997 Letter evidencing
re-deposit of title deeds |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 2.600 millions |
|
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 |
Equitable mortgage
created by deposit of title deeds on company’s immovable properties at
Icchangur, Attibele Hobli, Anekal Taluk, Bangalore [more fully described in
the schedule ‘A’] |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 15.81% pa Margin as applicable Repayable in 48 equal monthly instalments with an initial repayment
holiday of 6 months Interest to be paid as and when debited |
|
5) Name and
Address and description of the person entitled to the charge. |
Vijaya Bank Mayohall Branch, M. G. Road, Bangalore – 560001, Karnataka, India |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
Fixed Assets :
Ř
Land
Ř
Factory
Building
Ř
Plant and
Machinery
Ř
Plant and
Machinery- Others
Ř
Electrical
Installation
Ř
Office
Equipments
Ř
Testing
Equipment
Ř
Diesel Gen Set
Ř
Dise, Tools and
Fixtures
Ř
Weighing Scale
Ř
Furniture and
fixtures
Ř
Vehicles
Ř
Computer and
software
Ř
Storage
Tank-LDO
AS PER WEBSITE
History
The Company is promoted by dedicated and highly enterprising Poddar family headed by Shri L. N. Poddar.
Ashirvad Enterprises - Commenced its manufacturing operation 30 years ago at
Patna. Drawing upon its rich & unique experience in manufacturing, ASHIRVAD
PIPES PRIVATE LIMITED, an ISO - 9001-2000 Company, came into existence at
Attibele Industrial area, Bangalore.
The Company is
promoted by dedicated and highly enterprising Poddar family. The promoters of
this Company are recognized as "INNOVATORS" in PVC pipes industry in
India having developed number of products for the first time in India viz.,
Hand Pump Pipes & Filters, Column Pipes and Socketing Machines.
New era was started
with the advancement of technology change, from traditional usage of Steel
Pipes to new breed of Company's range of product, uPVC Column Pipes, Plumbing
Pipes, Hand pump and Jet pump pipes. In fact, the company was the first to
receiveISI certification for SWR and PVC casing pipes in India. The company is
a front runner and has many unique technological innovations to its credit.
Men and Mind behind Ashirvad
The driving force behind
the company are the Promoter Directors of the company, well known in the
industry as "ASHIRVAD PEOPLE".
The Company is
promoted by dedicated and highly enterprising Poddar family headed by Shri L. N. Poddar.
MR. PAWAN PODDAR, senior most Director is known for his marketing and finance acumen.
He possess excellent leadership and managerial skills which are the driving
force in "moving" the market, accelerating the sales, motivating both
the channel partners as well as the marketing team to bring out the best from
them. Company's rapid growth year after year is a natural corollary to his
aggressive marketing skills.
MR. DEEPAK PODDAR, a mechanical engineer, is at the helm of company's technology front.
He also monitors company's production front. His technical skills are recognized
in the Indian PVC Industry and is a regular visitor to national and
international seminars, trade fairs and workshops.
The products being
innovative and widely accepted across the country itself are a testimonial of
his technical skills. He is an associate member of standard committee of Indian
Standards Institute (ISI).
MR. VIKAS PODDAR, Director, is an expert in procuring quality raw materials in time and
maintains good rapport with all leading suppliers and leads the company's
purchase wing. In addition to this, he also looks after Human Resource
Development and Administration.
He also looks after Marketing acumen & activities.
The company's
ability to deliver it's products on time speaks volumes of his procurement and
administrative skills.
The innovative ideas of Poddar brothers has given birth to start manufacture
uPVC column Pipes & PVC Belling Machine, one of its kind for first time in
India.
The Progress
Story
After commencing
operations at Bangalore, the production capacity rapidly increased from 1200 MT
in 1998 to 3200 MT in the year 2001.
Presently the production capacity has increased from 3200 MT to 7000 MT.
Further capacity addition is in progress to meet the rising demand.
The company started with 6000 sq. ft. of covered area in 1998 and is currently
having 55,000 sq. ft.
Started with 1 acre land now it is having 4 acres. Further addition is in
progress.
Products
Diversified in C PVC
project for FLOW GUARD piping system, which will be further expanded to CORZAN
industrial piping system from NOVEON.
The company plans to
make further diversification in the form of SWR pipes & fittings, which
will complete the range of plumbing along with C PVC project.
The company proposes
to take up SWR project after completing C PVC project, which is targeted to be
completed by 2004.
In addition to above
diversification, company plans to consolidate and expand its base in the
current range of products.
Advantages of
Ashirvad Column Pipes for Submersible Pumps
Long life since no corrosion
Easy installation being lightweight
Lower power consumption due to………….
No Electrolytic Deposition being non metallic.
The products are
manufactured in the state of art latest machines including CNC machines under
the strict guidance, vigilance and supervision of a Technical Director himself
lead by a highly skilled-trained technical team.
Milestones of
Ashirvad
Ashirvad is proud to announce that by now it has successfully installed and
commissioned 3,00,000 installations across the length and breadth of the
country as on date.
The Distribution
Channel
"Ashirvad"
has Distributors, Dealers, and Sub dealers network across the length and
breadth of the country and is capable of supplying its products through this
network immediately to the end users.
It is pertinent to
point out that this entire network is well versed in their trade and has gained
the confidence of the end user to such an extent that has helped not only
'Ashirvad" earn a brand name in the country, but also carve out a niche
for themselves in their trade. With the
experience and confidence gained on all India market ,"ASHIRVAD", is
already geared up for entering in to export market.
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.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
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 |
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. |
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 |
|