1. Summary Information
|
|
|
Country |
|
|
Company Name |
APOLLO PIPES
LIMITED |
Principal Name 1 |
Mr Sameer Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr Vinay Gupta |
|
|
|
Registration # |
55 - 098418 |
|
Street Address |
37, Hargobind
Enclave, Vikas Marg, |
||
|
Established Date |
16.02.1999 |
SIC Code |
-- |
|
Telephone# |
91-11-22373437
(6 Lines) |
Business Style 1 |
Manufacturing |
|
Fax # |
91-11-22373537 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Steel
Products |
|
|
# of employees |
Not Available |
Product Name 2 |
Polyolefin Piping
System |
|
Paid up capital |
Rs 22,863,000 |
Product Name 3 |
PVC Pipes
Products |
|
Shareholders |
Bodies corporate 20.84% Directors or
relatives of Directors 79.16% |
Banking |
Andhra Bank |
|
Public Limited Corp. |
NO |
Business Period |
12 |
|
IPO |
NO |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(48) |
|
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 |
223,805,000 |
Current Liabilities |
71,665,000 |
|
Inventories |
55,119,000 |
Long-term Liabilities |
181,541,000
|
|
Fixed Assets |
89,244,000 |
Other Liabilities |
3,060,000 |
|
Deferred Assets |
0 |
Total Liabilities |
256,266,000 |
|
Invest& other Assets |
22,078,000 |
Retained Earnings |
111,117.000 |
|
|
|
Net Worth |
133,980,000 |
|
Total Assets |
390,246,000 |
Total Liab. & Equity |
390246000 |
|
Total Assets (Previous Year) |
320,359,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
640,242,000 |
Net Profit |
29,772,000 |
|
Sales(Previous yr) |
615,597,000 |
Net Profit(Prev.yr) |
17,076,000 |
MIRA
INFORM REPORT
|
Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
APOLLO PIPES LIMITED |
|
|
|
|
Registered
Office : |
37, Hargobind Enclave, Vikas Marg, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.02.1999 |
|
|
|
|
Com. Reg. No.: |
55 – 098418 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs 22.863 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28939DL1999PLC098418 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA08743A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA6990J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of PVC Pipes |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 536000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relation are reported as 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 uaual
trade terms and condition. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
37, Hargobind Enclave, Vikas Marg, |
|
Tel. No.: |
91-11-22373437 (6 Lines) |
|
Fax No.: |
91-11-22373537 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr Sameer Gupta |
|
Designation : |
Director |
|
Address : |
106, Hargobind Enclave, Vikas Marg, |
|
Date of Birth/Age : |
02.11.1977 |
|
Date of Appointment : |
16.02.1999 |
|
DIN No.: |
00005209 |
|
|
|
|
Name : |
Mr Vinay Gupta |
|
Designation : |
Director |
|
Address : |
106, Hargobind Enclave, Vikas Marg, |
|
Date of Birth/Age : |
05.09.1976 |
|
Date of Appointment : |
16.02.1999 |
|
DIN No.: |
00005149 |
|
|
|
|
Name : |
Mr Sanjay Gupta |
|
Designation : |
Director |
|
Address : |
106, Hargobind Enclave, Vikas Marg, |
|
Date of Birth/Age : |
20.07.1971 |
|
Date of Appointment : |
16.06.2008 |
|
DIN No.: |
00233188 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sameer Gupta |
|
209810 |
|
Vinay Gupta |
|
565810 |
|
Vandana Gupta |
|
312100 |
|
Meenakshi Gupta |
|
628100 |
|
Neera Gupta |
|
60000 |
|
Saroj Rani Gupta |
|
4000 |
|
Sanjay Gupta (HUF) |
|
30000 |
|
APL Infrastructure Private Limited |
|
476500 |
|
Total |
|
2286320 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
20.84 |
|
Directors or relatives of Directors |
79.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of PVC Pipes |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vaps and Company Chartered Accountant |
|
Address : |
C – 42, South Extension Part – II, |
|
Tel. No.: |
91-11-41645051 (4 Lines) |
|
Fax No.: |
91-11-41644896 |
|
PAN No.: |
AAAFV2410P |
|
E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs 110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2286320 |
Equity Shares |
Rs.10/- each |
Rs 22.863
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 |
22.863 |
22.863 |
19.903 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
111.117 |
81.345 |
37.629 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
133.980 |
104.208 |
57.532 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
181.110 |
142.514 |
82.670 |
|
|
2] Unsecured Loans |
0.431 |
0.569 |
55.465 |
|
|
TOTAL BORROWING |
181.541 |
143.083 |
138.135 |
|
|
DEFERRED TAX LIABILITIES |
3.060 |
1.403 |
1.192 |
|
|
|
|
|
|
|
|
TOTAL |
318.581 |
248.694 |
196.859 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
89.244 |
46.524 |
41.705 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
22.078 |
17.223 |
5.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
55.119
|
65.515 |
55.960 |
|
|
Sundry Debtors |
103.021
|
75.728 |
61.227 |
|
|
Cash & Bank Balances |
8.126
|
9.150 |
7.131 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
112.658
|
78.493 |
71.199 |
|
Total
Current Assets |
278.924
|
228.886 |
195.517 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29.745
|
12.925 |
24.496 |
|
|
Other Current Liabilities |
13.778
|
10.724 |
9.059 |
|
|
Provisions |
28.142
|
20.290 |
12.308 |
|
Total
Current Liabilities |
71.665
|
43.939 |
45.863 |
|
|
Net Current Assets |
207.259
|
184.947 |
149.654 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
318.581 |
248.694 |
196.859 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
640.242 |
615.597 |
415.052 |
|
|
|
Other Income |
1.924 |
5.589 |
5.658 |
|
|
|
TOTAL (A) |
642.166 |
621.186 |
420.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
491.923 |
531.102 |
365.152 |
|
|
|
Excise Duty on Increase / Decrease in Stock |
0.349 |
(1.309) |
2.029 |
|
|
|
Manufacturing Expenses |
20.618 |
16.966 |
8.206 |
|
|
|
Power and Fuel |
30.046 |
21.262 |
14.217 |
|
|
|
Administrative and other Expenses |
13.004 |
8.788 |
3.672 |
|
|
|
Selling and Other Expenses |
15.523 |
4.676 |
3.209 |
|
|
|
Short Term Capital Loss on Share |
(0.949) |
2.052 |
0.000 |
|
|
|
Loss on Claim Recoverable |
0.074 |
0.000 |
0.000 |
|
|
|
Variation in Stock |
3.048 |
(5.206) |
(8.291) |
|
|
|
TOTAL (B) |
573.636 |
578.331 |
388.194 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
68.530 |
42.859 |
32.516 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.464 |
9.444 |
10.394 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
55.066 |
33.411 |
22.122 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.440 |
6.002 |
4.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.626 |
27.409 |
17.355 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
16.854 |
10.333 |
6.337 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
29.772 |
17.076 |
11.018 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
33.504 |
16.428 |
5.410 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
63.276 |
33.504 |
16.428 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
TOTAL EARNINGS |
NA |
16.88 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.02 |
7.468 |
5.536 |
|
QKEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.64
|
2.75 |
0.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.28
|
4.45 |
4.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.66
|
9.95 |
7.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.26 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.89
|
1.79 |
3.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.89
|
5.21 |
4.26 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION:
During the year the company has achieved a gross turnover of Rs 694.251
Million against Rs 703.040 Million during the previous year. The company has
earned a net profit of Rs 46.625 Million during the year against a net profit
of Rs 27.409 Million in the previous year.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10250951 |
|
Corporate identity
number of the company |
U28939DL1999PLC098418 |
|
Name of the
company |
APOLLO PIPES LIMITED |
|
Address of the
registered office or of the principal place of business in |
37, Hargobind Enclave, Vikas Marg, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
HDFC Bank, House
Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
08.06.2011 |
|
Amount secured by
the charge |
Rs 100.000
Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As Stipulated by
the Bank from Time to Time Terms of
Repayment As Stipulated by
the Bank from Time to Time Margin As Stipulated by
the Bank from Time to Time Extent and
Operation of the charge By way of mortgage
by re-deposit of Title Deeds by constructive delivery on the Mortgagor’s
immovable properties as security on pari passu first charge basis for the due
repayment, discharge and redemption by the Mortgage of the credit facilities
/ loan |
|
Short particulars
of the property charged |
|
|
Date of latest
modification prior to the present modification |
12.02.2011 |
|
Particulars of
the present modification |
Now the existing
credit facility of Rs 100.000 Millions (Fund based limits of Rs 20.00 Miilions
and non Fund based Facility of Rs 80.000 millions) are secured by way of
first pari – passu charge basis with Andhra Bank on immovable properties
situated at D – 20, A – 82 and E – 6, Sikandarabad district, Bulandshahar in
addition to the hypothecation by way of first Pari Passu charge on all the
stock, book debts and machinery of the company. |
Website Details:
Your Trust Is Our Motto
From modest begining in 2000 when our first unit of the manufacturing of uPVC Pipes
was set up Apollo Pipes Private Limited has grown from strength to strength
over the years. We have been expanding and diversifying rapidly and today we
have been recognized as one of the leading and fast expanding company in PVC
Pipe manufacturing under the Brand name of APL Apollo.
The
The latest innovation is PVC Column Pipes with Apollo Super Lock System.
We feel proud to mention that they are the first in entire Northern India in
launching Column Pipes with Locking System.
FIXED ASSETS:
- Building and Civil Work
- Plant and Machinery
- Vehicle
- Computer
- Office Equipment
- Electrical Installation
- Furniture and Fixture
- Building
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.44.42 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.63.55 |
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 |
6 |
|
--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 |
|
48 |
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.