MIRA
INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
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Name : |
A-I ENTERPRISES PRIVATE LIMITED |
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Formerly Known
as : |
AL LAN TEXKNIT PROCESSOR PRIVATE LIMITED |
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Registered
Office : |
F-41/A, Annanagar (East), Chennai – 600040, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
23.02.2000 |
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Com. Reg. No.: |
060136 |
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Capital
Investment/ Paid-up Capital: |
Rs.38.300
Millions |
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CIN No.: [Company Identification
No.] |
U18101TN2000PTC060136 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter of Garments. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 1000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The
management has not filed the latest financials of the company with the
government departments. However, trade relations are reported as fair.
Business is active. Payment terms are unknown. The company can be considered for business dealings with some caution.
|
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) |
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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 |
INFORMATION DECLINED BY
|
Name : |
Mr. K.V. Ramchandran |
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Designation : |
Account Manager |
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Date : |
17.08.2011 |
LOCATIONS
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Registered Office : |
F-41/A, Anna Nagar East, Chennai – 600040, |
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Tel. No.: |
91-44-42920100/26263875 |
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Fax No.: |
91-44-26260893 |
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E-Mail : |
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Website : |
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Head Office: |
Site No.K-20/23, Sipcot Industrial Growth Centre Perundurai-638052, |
DIRECTORS
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Name : |
Mr. Abdul Azeez |
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Designation : |
Director |
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Address : |
R-70, Anna Nagar East, Chennai – 600040, |
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Date of Birth/Age : |
18.10.1948 |
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Date of Appointment : |
23.02.2000 |
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Name : |
Mr. Haji Iqbal |
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Designation : |
Director |
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Address : |
117, |
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Date of Birth/Age : |
20.06.1952 |
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Date of Appointment : |
23.02.2000 |
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Name : |
Mr. N Jayaraman |
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Designation : |
Director |
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Address : |
Plot No.1602, H Block, Anna Nagar East, Chennai – 600040, |
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Date of Birth/Age : |
03.06.1929 |
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Date of Appointment : |
23.02.2000 |
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Name : |
Mr. Mohammed Asif |
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Designation : |
Director |
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Address : |
Block T 59, |
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Date of Birth/Age : |
29.03.1968 |
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Date of Appointment : |
24.05.2006 |
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Name : |
Mr. Munavar Jaliwala |
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Designation : |
Director |
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Address : |
No.8/9, Real Abode, |
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Date of Birth/Age : |
26.03.1972 |
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Date of Appointment : |
24.05.2006 |
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Name : |
Mr. Adil Azeez |
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Designation : |
Director |
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Address : |
No.14/2, |
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Date of Birth/Age : |
28.12.1974 |
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Date of Appointment : |
24.05.2006 |
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Name : |
Mr. Mohamed Riyaz |
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Designation : |
Director |
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Address : |
T-59, Anna Nagar East, Chennai – 600040, |
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Date of Birth/Age : |
15.05.1978 |
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Date of Appointment : |
24.05.2006 |
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Name : |
Mr. Faizal Yunus Jaliwala |
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Designation : |
Director |
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Address : |
8/9, New No.15, |
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Date of Birth/Age : |
16.12.1974 |
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Date of Appointment : |
24.05.2006 |
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Date of Ceasing : |
25.02.2009 |
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Name : |
Mr. Azeem Azeez |
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Designation : |
Director |
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Address : |
No.84, NT Pet II main road, |
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Date of Birth/Age : |
13.10.1983 |
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Date of Appointment : |
24.05.2006 |
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Name : |
Mr. Mohammad Habib |
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Designation : |
Director |
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Address : |
T-59, Anna Nagar East, Chennai – 600040, |
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Date of Birth/Age : |
23.12.1970 |
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Date of Appointment : |
24.05.2006 |
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Name : |
Mr. Nagore Abdul Majeed |
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Designation : |
Director |
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Address : |
No.98, V Block, 5th |
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Date of Birth/Age : |
02.06.1932 |
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Date of Appointment : |
08.08.2008 |
KEY EXECUTIVES
|
Name : |
Mr. K.V. Ramchandran |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
H |
|
1730000 |
|
Haji Iqbal H E |
|
460000 |
|
Haroon Mohamed H E |
|
50000 |
|
Azra Haroon |
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25000 |
|
Imran Haron |
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25000 |
|
Imtiaz H A Sattar |
|
100000 |
|
Fareeda Azeez |
|
180000 |
|
Bilkis Hanif |
|
180000 |
|
Mohamed Asif |
|
180000 |
|
Mohamed Habib |
|
180000 |
|
Mohammed Riyaz |
|
180000 |
|
Munavar Jliwala |
|
180000 |
|
Adil Azeez |
|
180000 |
|
Azeem Azeez |
|
180000 |
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Total |
|
3830000 |
As on 30.09.2009
|
S. No. |
Category |
Percentage |
|
1 |
Directors or
relatives of Directors |
100.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of Garments. |
PRODUCTION STATUS AS ON 31.03.2009
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Garments |
Pcs |
NA |
NA |
4494936 |
GENERAL INFORMATION
|
Bankers : |
UCO Bank, Mid Corporate Branch, 328, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B Muralidharan Chartered Accountant |
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Address : |
6, Subam Complex, 306, |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3830000 |
Equity Shares |
Rs.10/- each |
Rs.38.300
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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|
SHAREHOLDERS FUNDS |
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|
|
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|
1] Share Capital |
38.300 |
38.300 |
38.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
222.147 |
158.479 |
118.442 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
260.447 |
196.779 |
156.742 |
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|
LOAN FUNDS |
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|
1] Secured Loans |
236.333 |
384.962 |
188.601 |
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|
2] Unsecured Loans |
121.906 |
75.728 |
175.798 |
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|
TOTAL BORROWING |
358.239 |
460.690 |
364.399 |
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DEFERRED TAX LIABILITIES |
31.563 |
35.553 |
32.283 |
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|
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TOTAL |
650.249 |
693.022 |
553.424 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
362.908 |
367.184 |
315.292 |
|
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Capital work-in-progress |
0.000 |
0.299 |
0.790 |
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INVESTMENT |
7.696 |
7.696 |
15.220 |
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DEFERREX TAX ASSETS |
7.038 |
7.038 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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|
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Inventories |
64.737
|
82.838 |
61.747 |
|
|
Sundry Debtors |
284.780
|
322.901 |
236.430 |
|
|
Cash & Bank Balances |
23.247
|
3.579 |
20.533 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
174.529
|
186.476 |
112.128 |
|
Total
Current Assets |
547.293
|
595.794 |
430.838 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.733
|
93.621 |
0.000 |
|
|
Other Current Liabilities |
111.396
|
120.773 |
172.404 |
|
|
Provisions |
92.572
|
70.613 |
36.334 |
|
Total
Current Liabilities |
274.701
|
285.007 |
208.738 |
|
|
Net Current Assets |
272.592
|
310.787 |
222.100 |
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MISCELLANEOUS EXPENSES |
0.015 |
0.018 |
0.022 |
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TOTAL |
650.249 |
693.022 |
553.424 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
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|
SALES |
|
|
|
|
|
|
|
Income |
1847.384 |
1697.103 |
1574.221 |
|
|
|
Other Income |
186.324 |
179.544 |
0.000 |
|
|
|
TOTAL (A) |
2033.708 |
1876.647 |
1574.221 |
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|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1867.262 |
1746.310 |
1478.648 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
166.446 |
160.337 |
95.573 |
|
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|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
21.344 |
34.986 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
145.102 |
125.351 |
95.573 |
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|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.585 |
45.630 |
0.000 |
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|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
102.517 |
79.721 |
95.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
38.849 |
39.685 |
75.588 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
63.668 |
40.036 |
19.985 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
146.473 |
106.437 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
210.141 |
146.473 |
NA |
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.018 |
NA |
NA |
|
|
TOTAL EARNINGS |
0.018 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.62 |
10.45 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
3.13
|
2.13 |
1.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.54
|
4.69 |
6.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.26
|
8.27 |
12.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.40 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.43
|
3.78 |
3.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.99
|
2.09 |
2.06 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90290419 |
|
Corporate
identity number of the company |
U18101TN2000PTC060136 |
|
Name of the
company |
A-I ENTERPRISES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
F-41/A, Anna Nagar East, Chennai – 600040, |
|
Type of charge |
Book Debts Movable Property Floating Charge Immovable
Property |
|
Particular of
charge holder |
UCO BANK |
|
Date of
instrument Creating the charge |
18.05.2009 |
|
Amount secured by
the charge |
Rs.407.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan II and
III: BPLR–2.50% ie. 10.00% p.a Term Loan V and
VI: BPLR–1.75% ie. 10.75% p.a Term Loan VII
(New): BPLR–0.50% ie. 12.00% p.a Cash Credit : BPLR
+ 2% P.a Terms of
Repayment As determined by
the banker from time to time Margin As determined by
the banker from time to time |
Fixed Assets:
- Land
- Building
- Plant and
Machinery
- Computers
- Air
Conditioner
- Furniture and
Fittings
- Office
Equipments
- Motor Car
- Motor
Vehicles
- Cycle
- Tools
AS PER WEBSITE
Profile:
Subject started in business in 1973 with the management of one building.
Today with over 37 years of experience in property management subject
manages over 700 residential units and 15 commercial units.
They take all the property management problems from you so that you can
focus on the important things in life. The peace of mind and trust are of
the utmost importance to them and they
will strive to exceed the average property management company.
They offer complete property management services including: complete
property maintenance and repair services (24x7 emergency services), tenant
screening, marketing, accounting, etc.
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
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.