MIRA
INFORM REPORT
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Report Date : |
01.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ATC PRECISION COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
B-140, Phase I, Mayapuri Industrial Area, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.07.2005 |
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Com. Reg. No.: |
55-138258 |
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CIN No.: [Company Identification
No.] |
U28999DL2005PTC138258 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA16480C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Precision Plastic Components and Moulds. |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 79000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office/ Plant I : |
B-140, Phase I, Mayapuri Industrial Area, |
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Tel. No.: |
91-11- 28117022, 41833313 |
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Fax No.: |
91-11- 28117022, 41833313, 28117988 |
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E-Mail : |
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Website : |
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Plant II : |
Plot No.201, Sector 6, IMT Manesar – 122 050,
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DIRECTORS
As on 30.09.2010
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Name : |
Mr. Ravinder Ved Prakash Maniktala |
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Designation : |
Managing Director |
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Address : |
B-1/15, Janak Puri, |
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Date of Birth/Age : |
15.04.1952 |
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Date of Appointment : |
04.07.2005 |
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DIN No.: |
00501182 |
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PAN No.: |
AAHPM8921H |
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Name : |
Ms. Sujata Manikatal |
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Designation : |
Director |
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Address : |
B-1/15, Janak Puri, |
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Date of Birth/Age : |
16.05.1959 |
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Date of Appointment : |
04.07.2005 |
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DIN No.: |
00501294 |
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PAN No.: |
AAQPM4196F |
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Name : |
Mr. Abhishek Ravinder Maniktala |
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Designation : |
Director |
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Address : |
B-1/15, Janak Puri, |
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Date of Birth/Age : |
11.04.1982 |
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Date of Appointment : |
17.06.2006 |
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DIN No.: |
00390985 |
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PAN No.: |
AGBPM7389K |
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Name : |
Mr. Ankit Ravinder Maniktala |
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Designation : |
Director |
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Address : |
B-1/15, Janak Puri, |
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Date of Birth/Age : |
11.05.1985 |
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Date of Appointment : |
17.06.2006 |
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DIN No.: |
00390949 |
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PAN No.: |
AJTPM0579L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Ravinder Maniktala |
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803480 |
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Sujata Maniktala |
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164500 |
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Abhishek Maniktala |
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10 |
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Ankit Maniktala |
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10 |
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Total |
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968000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Precision Plastic Components
and Moulds. |
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GENERAL INFORMATION
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Customers : |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Anil Khatri and Company Chartered Accountants |
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Address : |
V-2, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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968000 |
Equity Shares |
Rs.10/- each |
Rs.9.680 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.680 |
8.680 |
7.600 |
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2] Share Application Money |
3.300 |
0.000 |
0.400 |
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3] Reserves & Surplus |
6.845 |
4.930 |
2.572 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
19.825 |
13.610 |
10.572 |
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LOAN FUNDS |
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1] Secured Loans |
40.345 |
24.709 |
16.514 |
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2] Unsecured Loans |
5.998 |
4.157 |
2.692 |
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TOTAL BORROWING |
46.343 |
28.866 |
19.206 |
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DEFERRED TAX LIABILITIES |
0.866 |
0.419 |
0.295 |
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TOTAL |
67.034 |
42.895 |
30.073 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
41.387 |
24.207 |
17.952 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
18.536
|
10.629 |
5.602 |
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Sundry Debtors |
19.227
|
16.300 |
15.604 |
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Cash & Bank Balances |
0.593
|
0.158 |
0.189 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
5.588
|
2.632 |
1.804 |
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Total
Current Assets |
43.944
|
29.719 |
23.199 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
10.272
|
6.237 |
6.223 |
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Other Current Liabilities |
7.519
|
3.865 |
4.000 |
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Provisions |
0.514
|
0.944 |
0.877 |
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Total
Current Liabilities |
18.305
|
11.046 |
11.100 |
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Net Current Assets |
25.639
|
18.673 |
12.099 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.015 |
0.022 |
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TOTAL |
67.034 |
42.895 |
30.073 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales |
88.470 |
78.198 |
75.070 |
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Jobworks Received |
0.925 |
1.121 |
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Other Income |
0.888 |
1.016 |
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TOTAL (A) |
90.283 |
80.335 |
75.070 |
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Less |
EXPENSES |
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Material Cost |
48.788 |
43.673 |
NA |
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Manufacturing Cost |
17.930 |
15.519 |
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Administrative & Other Expenses |
4.228 |
3.804 |
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Personnel Expenses |
7.026 |
7.047 |
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Selling and Distribution Expenses |
0.631 |
0.526 |
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TOTAL (B) |
78.603 |
70.569 |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.680 |
9.766 |
NA |
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Less |
FINANCIAL
EXPENSES (D) |
4.494 |
3.125 |
2.147 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.186 |
6.641 |
NA |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.281 |
3.215 |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
2.905 |
3.426 |
2.689 |
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Less |
TAX (H) |
0.990 |
1.068 |
0.958 |
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PROFIT AFTER TAX
(G-H) (I) |
1.915 |
2.358 |
1.731 |
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Earnings Per
Share (Rs.) |
1.98 |
NA |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total
Income |
(%) |
2.12
|
2.94 |
2.31 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.28
|
4.38 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.40
|
6.35 |
6.53 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.25 |
0.25 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.26
|
2.93 |
2.87 |
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Current Ratio (Current Asset/Current Liability) |
|
2.40
|
2.69 |
2.09 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The Company achieved
a sales/other income of Rs.90.283 millions for the period up to 31.3.2010 as
against Rs.80.335 millions achieved in previous year. The Net Profit before Tax
of the Company for FY 2009-10 stood at Rs.2.905 millions as against profit of
Rs.3.426 millions in the immediate previous year. The figures of sales have
shown an increasing trend in comparison to the previous year. Dispite increase
in sales, there is a decline in profit as compared to the previous year. The
main reason for which is increase in expenses in new unit commenced during the
year. The directors have started concentrating more on increasing the business
and the results of the efforts would be visible in coming years. After
accounting for all expenses including depreciation, provision for deferred
taxation and income tax, the company earned PAT of Rs.1.915 millions as against
profit of Rs.2.358 millions in the immediate previous year. The directors of
the company are conscious of the need to increase the business of the company
and are sure of better results in the years to come.
FINANCE
The Company is
regularly banking with State Bank of
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10160234 |
|
Corporate
identity number of the company |
U28999DL2005PTC138258 |
|
Name of the
company |
ATC PRECISION COMPONENTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
B-140, Phase I, Mayapuri Industrial Area, E-Mail: info@atcprecomp.com |
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Type of charge |
Any interest in immovable property Book Debts Movable Property |
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Particular of
charge holder |
State Bank of E-Mail: anilgupta.kher@sbi.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Letter of Arrangement
SME-1 |
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Date of
instrument Creating the charge |
22/10/2009 |
|
Amount secured by
the charge |
50,214,000.00 |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Working Capital:
1.25% above SBAR rising or falling therewith, on daily products with monthly
rests Term Loans: 1.25%above
SBAR rising or falling therewith, on daily products with monthly rests Terms of
Repayment: repayable on
demand Margin: raw
materials 25% semi finished
goods 25% finished
goods 25% domestic
receivables 30% Extent and
Operation of the charge: The charge will
operate for all amounts advanced to the borrower under the said facilities as
also for all interest, costs, charges, expenses and or other monies, which
may become due from time to time and remain unpaid to the bank. |
|
Short particulars
of the property charged |
Primary Security:
Hypothecation of book debts and stocks for CC Limits: 1st charge
on assets created out of term loans availed from Bank. Collateral
Security: Third Party
Guarantees of Directors: Ravinder K Maniktala, Abhishek Maniktala, Ankit
Maniktala, Sujata Maniktala |
|
Date of latest
modification prior to the present modification |
19/07/2008 |
|
Particulars of
the present modification |
Enhancement of
Fund Based Limits from Rs.29.334 millions to Rs 50.214 millions. |
FIXED ASSETS:
Computer and Printer
·
Computer and Printer
Furniture and Fixtures
·
Furniture and Fixtures
Motor Vehicles
·
Motor Car
·
Scooter and Motor Cycle
·
Cycle Riksha
Other Fixed Assets
·
Air Conditioner
·
Air Compressor
·
Cellular Phone
·
Cooling Tower
·
EPBAX
·
Electric Equipment and Fitting
·
Fan
·
Fax Machine
·
Fire Extinguisher
·
Inverter
·
Other Equipments
·
Photocopy Machine
·
Refrigerator
·
Security Camera
·
Tools
·
Voltage Stablizer
·
Water Cooler
·
Weighing Machine
·
Water Filter
Plant and Machinery
·
Plant and Machinery
·
Moulds and Dies
·
Generator
·
Crane - Maneshar
·
Transformer - Maneshar
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.44.65 |
|
|
1 |
Rs.71.93 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.