Business
information report
1. Summary Information
|
Country |
|
||
|
Company Name |
ATLAS METAL PROCESSORS PRIVATE LIMITED |
Principal Name 1 |
Mr. Hareesh Vasanji |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Victor Ponniah |
|
Registration # |
030082 |
||
|
Street Address |
173/3, |
||
|
Established Date |
06.02.1995 |
SIC Code |
-- |
|
Telephone# |
91-44-24503360 |
Business Style 1 |
Manufacturer of Metals |
|
Fax # |
91-44-24501388 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 3,204,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors – 100% |
Banking |
Tamilnad Mercantile Bank Limited, |
|
Public Limited Corp. |
-- |
Business Period |
16 year |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (47) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
73,928,000 |
Current Liabilities |
26,863,000 |
|
Inventories |
2,095,000 |
Long-term Liabilities |
35,240,000 |
|
Fixed Assets |
19,640,000 |
Other Liabilities |
633,000 |
|
Deferred Assets |
0 |
Total Liabilities |
62,736,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
29,723,000 |
|
|
|
Net Worth |
32,927,000 |
|
Total Assets |
95,663,000 |
Total Liab. & Equity |
95,663,000 |
|
Total Assets (Previous Year) |
83,224,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
224,834,000 |
Net Profit |
7,052,000 |
|
Sales(Previous yr) |
110,846,000 |
Net Profit(Prev.yr) |
1,384,000 |
MIRA INFORM REPORT
|
Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS METAL PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
173/3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
06.02.1995 |
|
|
|
|
Com. Reg. No.: |
030082 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28991TN1995PTC030082 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA02896F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Metals |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 131000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually correct
and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
173/3, |
|
Tel. No.: |
91-44-24503360 |
|
Fax No.: |
91-44-24501388 |
|
E-Mail : |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
AS
ON 30.09.2010
|
Name : |
Mr. Hareesh Vasanji |
|
Designation : |
Director |
|
Date of Birth/Age : |
22.09.1954 |
|
Date of Appointment : |
06.02.1995 |
|
|
|
|
Name : |
Mr. Victor Ponniah |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.07.1958 |
|
Date of Appointment : |
06.02.1995 |
|
|
|
|
Name : |
Mr. Ramanujam Nalman Maharajan |
|
Designation : |
Director |
|
Date of Birth/Age : |
05.01.1959 |
|
Date of Appointment : |
01.10.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS
ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Hareesh Vasanji |
160200 |
|
Mr. Victor Ponniah |
160200 |
|
Total |
320400 |
AS
ON 30.09.2010
|
Equity Share
Breakup |
Percentage of
Holding |
|
Category |
|
|
Directors or relatives of directors |
100.00 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Metals |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Bankers : |
Tamilnad Mercantile Bank Limited, Chennai Sholinganallur Branch, Solinganallur,
Chennai 600119, Tamil |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mukesh C Mehta Chartered Accountant |
|
Address : |
35/1, |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS
ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs. 10 each |
Rs.3.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
320400 |
Equity Shares |
Rs. 10 each |
Rs.3.204 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.204 |
3.204 |
3.204 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
29.723 |
22.705 |
22.338 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.927 |
25.909 |
25.542 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.526 |
12.715 |
2.434 |
|
|
2] Unsecured Loans |
7.714 |
4.328 |
4.387 |
|
|
TOTAL BORROWING |
35.240 |
17.043 |
6.821 |
|
|
DEFERRED TAX LIABILITIES |
0.633 |
0.659 |
0.616 |
|
|
|
|
|
|
|
|
TOTAL |
68.800 |
43.611 |
32.979 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.640 |
21.017 |
22.258 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.095
|
28.256 |
29.401 |
|
|
Sundry Debtors |
65.925
|
22.181 |
19.495 |
|
|
Cash & Bank Balances |
0.532
|
0.840 |
0.168 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
7.471
|
10.930 |
5.231 |
|
Total
Current Assets |
76.023
|
62.207 |
54.295 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.681
|
0.000 |
0.551 |
|
|
Other Current Liabilities |
5.178
|
39.542 |
42.947 |
|
|
Provisions |
0.004
|
0.071 |
0.076 |
|
Total
Current Liabilities |
26.863
|
39.613 |
43.574 |
|
|
Net Current Assets |
49.160
|
22.594 |
10.721 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
68.800 |
43.611 |
32.979 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
224.834 |
110.846 |
80.393 |
|
|
|
Other Income |
2.272 |
1.516 |
7.680 |
|
|
|
TOTAL (A) |
227.106 |
112.362 |
88.073 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
26.161 |
1.145 |
14.173 |
|
|
|
Manufacturing Expenses |
156.727 |
89.670 |
59.817 |
|
|
|
Selling and Distribution Expenses |
3.674 |
2.199 |
0.988 |
|
|
|
Office Expenses |
4.878 |
3.820 |
0.613 |
|
|
|
Administrative Expenses |
25.593 |
11.187 |
7.917 |
|
|
|
Loss on |
0.045 |
0.000 |
0.045 |
|
|
|
TOTAL (B) |
217.078 |
108.021 |
83.553 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.028 |
4.341 |
4.520 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.028 |
4.341 |
4.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.976 |
2.957 |
3.416 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT FOR
THE YEAR |
7.052 |
1.384 |
1.104 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.90
|
2.21 |
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
1.57 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE OF THE
COMPANY
The performance of the company during the financial year 2009-2010 was satisfactory.
The company achieved a gross receipts of Rs. 224.834 millions and achieved a
net profit of Rs.7.052 millions before providing for MAT of Rs. 0.005 million
and after providing depreciation of Rs. 2.977 millions.
FIXED ASSETS:
- Building
- Furniture
- Electrical
Fittings
- Tools and
Dies
- Telephone
Intercom
- Vehicle
- Van
- Motor Car
- Plant and
Machinery
- Computer
- Cellular
Phone
FORM 8
|
Corporate
identity number of the company |
U28991TN1995PTC030082 |
|
Name of the
company |
ATLAS METAL PROCESSORS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
173/3, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Tamilnad Mercantile Bank Limited, Chennai Sholinganallur Branch, Solinganallur,
Chennai 600119, Tamil |
|
Nature of
instrument creating charge |
Deed of
Hypothecation of Machinery |
|
Date of
instrument Creating the charge |
09.03.2010 |
|
Amount secured by
the charge |
Rs. 100.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Floating rate as
applicable from time to time Terms of repayment Repayable on
demand Margin FBN-NIL FBD/AAFBSC/FLC/ILC/FCL/BG-10% Extent and operation of the charge The borrower
shall not , during the continuance of this agreement of Hypothecation or otherwise,
charge or encumber any of the assets for the time being the subject or
indented to be the subject of the security nor do
or permit any act whereby the security herein before expressed to be
given to the bank shall be any way prejudicially affected. Other The company has
availed the Working capital limit of FBN/FBD/AAFBSC- Rs.50.000 millions and
FLC/ILC/FCL/BG-Rs.50.000 millions |
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.44.52 |
|
|
1 |
Rs.72.72 |
|
Euro |
1 |
Rs.64.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
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.