MIRA
INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
AURANGABAD
ELECTRICALS LIMITED |
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|
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Registered
Office : |
Plot No. B-7,
MIDC, Chakan, Village Mahalunge, Taluka Khed, Pune-410501, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
23.09.1985 |
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Com. Reg. No.: |
11-37539 |
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Capital Investment
/ Paid-up Capital : |
Rs.114.085 Millions |
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CIN No.: [Company
Identification No.] |
U31909PN1985PLC037539 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA04895C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of
Business : |
Manufacturer and
Exporter of Electrical Fasteners. |
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No. of Employees : |
100
(approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2300000 |
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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 an established company having satisfactory track. Trade
relations 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 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.
INFORMATION PARTED BY
|
Name : |
Mr. Nikam |
|
Designation : |
Account Manager |
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Contact No.: |
91-2431-325030 |
|
Date : |
18.08.2011 |
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|
Name : |
Mr. Pramod Agrawal |
|
Designation : |
Finance Head |
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Contact No.: |
91-9325261209 |
|
Date : |
18.08.2011 |
LOCATIONS
|
Registered
Office : |
Plot No. B-7,
MIDC, Chakan, Village Mahalunge, Taluka Khed, Pune-410501, |
|
Tel. No.: |
91-2135-259157 /
91-240-554422 / 91-2431-251482 |
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Fax No.: |
91-2135-280007 /
91-2431-251488-9 |
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E-Mail : |
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Website : |
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Area: |
10000 sq. ft.
(Approximately) |
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Location : |
Owned |
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Factory 1 : |
B-23, MIDC,
Waluj, |
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E-Mail : |
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Factory 2 : |
Gut No.120/122, Village Pangra, Post. Chitegaon, Taluka Paithan
District |
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E-Mail : |
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Factory 3 : |
M-135/136, MIDC,
Waluj, |
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E-Mail : |
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Factory 4 : |
At. Pimpalgaon,
Taluka Parner, Dist. Ahemadnagar |
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Factory 5 : |
Plot No. B-7,
MIDC, Chakan, Village Mahalunge, Taluka Khed, District Pune, |
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E-Mail : |
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Factory 6 : |
Plot No. L6/1,
MIDC, Waluj, |
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E-Mail : |
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Factory 7: |
Gat 104, Village
Pharola, Taluka Paithan, Aurngabad-431001, |
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Tel. No.: |
91-2431-325030 |
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Fax No.: |
91-2431-251142 |
DIRECTORS
As on 20.09.2010
|
Name : |
Mr. Navin Paul |
|
Designation : |
Director |
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Date of Birth
: |
24.10.1957 |
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Date of
Appointment : |
30.09.2006 |
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DIN : |
00424944 |
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Name : |
Mr. Rishi Kumar
Bagla |
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Designation : |
Managing Director |
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Address : |
Gut No. 40,
Golwadi, |
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Date of Birth
: |
02.08.1959 |
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Date of
Appointment : |
23.09.1985 |
|
DIN : |
00002020 |
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|
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|
Name : |
Mr. Anant Kandoi |
|
Designation : |
Director |
|
Address: |
B-72, Textella |
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Date of Birth
: |
16.02.1973 |
|
Date of
Appointment : |
07.03.2007 |
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DIN : |
01574768 |
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Name : |
Mrs. Mamta Bagla |
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Designation : |
Whole-time
Director |
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Address : |
Gut No. 40,
Golwadi, |
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Date of Birth
: |
12.07.1963 |
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Date of
Appointment : |
01.04.1994 |
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DIN : |
00002031 |
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|
Name : |
Mr. Muneesh
Chawla |
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Designation : |
Nominee Director |
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Address : |
A 702, Gurgaon –
122002, |
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Date of Birth
: |
05.01.1967 |
|
Date of
Appointment : |
19.04.2006 |
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DIN : |
00069360 |
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|
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Name : |
Mr. Raghavachary
Kilambi |
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Designation : |
Whole Time
Director |
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Date of Birth
: |
09.07.1946 |
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Date of
Appointment : |
10.07.2007 |
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DIN : |
01587450 |
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|
Name : |
Mr. Rajnarayan
Bagla |
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Designation : |
Director |
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Address : |
Gut NO. 40,
Golwadi, |
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Date of Birth
: |
15.02.1926 |
KEY EXECUTIVES
|
Name : |
Mr. Prem Chand
Agarwal |
|
Designation : |
Company Secretary |
|
Address : |
G-29, Raj
Apartments, Town Centre, Cidco, |
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Date of Birth/Age : |
15.07.1959 |
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Date of Appointment : |
15.06.2004 |
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PAN : |
AATPA5504G |
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|
Name : |
Mr. Nikam |
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Designation : |
Accounts Manager |
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|
Name : |
Mr. Pramod Agrawal |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2010
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Raj Narayan Bagla |
118650 |
7224 |
|
Rishi Kumar Bagla |
56100 |
507 |
|
Neha Bagla |
24750 |
4252 |
|
Devanshi Bagla |
24000 |
2848 |
|
Mamta Bagla |
39000 |
4300 |
|
Raj Narayan Bagla HUF |
13500 |
-- |
|
Rishi Kumar Bagla HUF |
18000 |
-- |
|
Waluj Investment and Trading Company Private Limited, |
145950 |
2836 |
|
Deccan Carbon Products
Private Limited, |
200550 |
18504 |
|
Aurangabad Motor
manufacturers Private Limited, |
247500 |
-- |
|
Blue River Capital I LLC, |
252000 |
--- |
|
RK Bagla |
-- |
9200 |
|
Kanoj Steels Limited, |
-- |
8000 |
|
JMD Sounds Limited, |
-- |
8000 |
|
Poonam Investment and Financial Consultants Limited, |
-- |
8000 |
|
Paritosh Trading Private Limited, |
-- |
6000 |
|
Geometric Trading Company Private Limited, |
-- |
6000 |
|
|
|
|
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Total |
1140000 |
85671 |
As on 20.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
22.00 |
|
Bodies
corporate |
|
52.00 |
|
Directors
or relatives of directors |
|
26.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Electrical Fasteners. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C / Cash / Credit (30 days / 60 days) |
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Purchasing : |
L/C / Cash / Credit (30 days / 60 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
The Saraswat Cooperative Bank Limited, CODCO
Branch,
·
Kotak Mahindra Bank Limited, 418/424, 4th
Floor, Sohrab Hall 21,
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S R Batilboi and Company Chartered Accountant |
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Address : |
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Tel. No.: |
91-33-66153400 |
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Fax No.: |
91-33-22817750 |
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Associates/Subsidiaries : |
Address: Plot No. B-7, MIDC, Chakan, Village Mahalunge, Taluka Khed,
Pune-410501, Line of Business: Manufacturer of shafts
for domestic appliances.
Address: Plot No. B-7, MIDC, Chakan, Village Mahalunge, Taluka Khed,
Pune-410501, Line of Business: Electronic Manufacturing
Services.
|
CAPITAL STRUCTURE
As on 20.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,250,000 |
Equity Shares |
Rs.100/- each |
Rs.125.000 Millions |
|
100,000 |
Preferences Shares |
Rs.1/- each |
Rs. 0.100 Million |
|
|
Total |
|
Rs.125.100
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1,140,000 |
Equity Shares |
Rs.100/-
each |
Rs.114.000
Millions |
|
85,671 |
Preferences Shares |
Rs.1/- each |
Rs. 0.085 Million |
|
|
|
|
Rs.114.085 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 |
114.000 |
114.000 |
114.000 |
|
|
2] Share Application Money |
0.085 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
462.955 |
442.414 |
555.461 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
577.040 |
556.414 |
669.461 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
879.773 |
920.709 |
1099.817 |
|
|
2] Unsecured Loans |
2.275 |
0.000 |
87.000 |
|
|
TOTAL BORROWING |
882.048 |
920.709 |
1186.817 |
|
|
DEFERRED TAX LIABILITIES |
50.667 |
29.618 |
58.363 |
|
|
DEFERRED SALES TAX LIABILITY |
109.313 |
87.151 |
88.763 |
|
|
|
|
|
|
|
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TOTAL |
1619.068 |
1593.892 |
2003.404 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1083.494 |
1230.433 |
1447.388 |
|
|
Capital work-in-progress |
15.516 |
9.635 |
7.946 |
|
|
|
|
|
|
|
|
INVESTMENT |
173.643 |
172.321 |
173.098 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
270.700
|
235.784 |
300.600 |
|
|
Sundry Debtors |
593.521
|
362.767 |
566.337 |
|
|
Cash & Bank Balances |
20.241
|
103.613 |
104.545 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
86.743
|
78.839 |
111.508 |
|
Total
Current Assets |
971.205
|
781.003 |
1082.990 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
563.812
|
483.621 |
590.276 |
|
|
Other Current Liabilities |
40.825
|
154.864 |
105.308 |
|
|
Provisions |
21.994
|
10.039 |
12.434 |
|
Total
Current Liabilities |
626.631
|
648.524 |
708.018 |
|
|
Net Current Assets |
344.574
|
132.479 |
374.972 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
ASSETS HELD FOR DISPOSAL |
1.841 |
49.024 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1619.068 |
1593.892 |
2003.404 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3469.161 |
3742.877 |
3754.798 |
|
|
|
Other Income |
55.521 |
41.217 |
91.411 |
|
|
|
TOTAL (A) |
3524.682 |
3784.094 |
3846.209 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed |
2299.652 |
2740.233 |
2527.717 |
|
|
|
Consumption of stores and spares |
169.899 |
131.254 |
133.555 |
|
|
|
Salaries, wages and bonus |
189.424 |
192.062 |
244.485 |
|
|
|
Managerial remuneration |
7.680 |
9.564 |
9.175 |
|
|
|
Payment of auditors |
1.426 |
1.414 |
1.423 |
|
|
|
Insurance expenses |
1.206 |
1.716 |
5.820 |
|
|
|
Power and fuel |
163.059 |
156.479 |
163.825 |
|
|
|
Other expenditures |
332.847 |
345.779 |
374.999 |
|
|
|
Increase or decrease in finished goods |
(29.187) |
26.927 |
101.282 |
|
|
|
TOTAL (B) |
3136.006 |
3605.428 |
3562.281 |
|
|
|
|
|
|
|
|
Less |
PROFIT/LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
388.676 |
178.666 |
283.928 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
104.408 |
131.957 |
155.968 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
284.268 |
46.709 |
127.960 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
242.581 |
190.550 |
199.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX (E-F) (G) |
41.687 |
(143.841) |
(71.442) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.991 |
(27.794) |
(49.399) |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX (G-H) (I) |
26.696 |
(116.047) |
(22.043) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.398 |
124.445 |
146.488 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Proposed Dividend on Equity Shares |
5.700 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.947 |
0.000 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
28.447 |
8.398 |
124.445 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
115.388 |
103.688 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
191.005 |
57.965 |
NA |
|
|
|
Capital Goods |
0.000 |
7.276 |
NA |
|
|
|
Others |
2.591 |
2.251 |
NA |
|
|
TOTAL IMPORTS |
193.596 |
67.492 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.42 |
(101.80) |
(19.34) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.76
|
(3.07) |
(0.57) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.20
|
(3.84) |
(1.90) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.03
|
(7.15) |
(2.82) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
(0.26) |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.61
|
2.82 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55
|
1.20 |
1.53 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
Rs.
In Millions 31.03.2008 |
|
Sundry Creditors
|
|
|
|
|
Total Outstanding Dues of Micro and Small Enterprises |
- |
- |
- |
|
Total Outstanding Dues of creditors other than Micro and Small
Enterprises |
563.812 |
483.621 |
590.276 |
|
Total |
563.812
|
483.621 |
590.276 |
Trade References:
- Bajaj Auto Limited
- TATA
- L and T
Financial
Highlights :
The global automobile industry was one of the worst affected by the
financial crisis. The company was not an exception and the year 2008-09had been
the worst year the company which recorded after tax net loss of Rs.116.000
millions. However the Indian economy has undergone a rapid turnaround sale of
two wheelers in
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U31909PN1985PLC037539 |
|
Name of the
company |
AURANGABAD ELECTRICALS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. B-7,
MIDC, Chakan, Village Mahalunge, Taluka Khed, Pune-410501, |
|
Type of charge |
Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
The Saraswat
Co-Operative Bank Limited, Gajanan Maharaj Mandir Branch, Garkheda,
Aurangabad-431001, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
further charge (for Bank Guarantee) |
|
Date of instrument
Creating the charge |
24.08.2010 |
|
Amount secured by
the charge |
Rs.11.789
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As applicable
from time to time. Terms of
Repayment As per agreement. Margin 10% Extent and
Operation of the charge Till the facility
is repaid in full by the company. |
|
Short particulars
of the property charged |
I)
Movable
fixed assets of the company's Plant-III at Gut No.120/122, Village Pangra,
Taluka Paithan, II)
Movable
fixed assets of the company's Plant-IX at Gut No.104, Village Pharola,
Taluka Paithan, III)
Movable
fixed assets of the company's Plant-GDC at Gut No.65, Village Chitegaon, Taluka Paithan, |
Fixed Assets
v
Technical
Know-how
v
v
v
Plant
and Machinery
v
Electrical
Installation
v
Factory
Equipments
v
Furniture
and Fixture
v
Vehicles
v
Computer
v
Office
Equipments
v
Software
v
Tools
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 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.