MIRA
INFORM REPORT
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Report Date : |
23.04.2011 |
IDENTIFICATION DETAILS
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Name : |
ALEXANDRA ENGINEERING WORKS PRIVATE LIMITED |
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Registered
Office : |
29, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
24.04.1953 |
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Com. Reg. No.: |
11-009037 |
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CIN No.: [Company Identification
No.] |
U28920MH1953PTC009037 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of forging |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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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 1600 |
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Status : |
Small company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. Trade relations are fair. Business is active. Payments are reported
slow but correct. The company can be considered for small to mediocre 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
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Sunil |
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Designation : |
Director |
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Date : |
11.04.2011 |
LOCATIONS
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Registered Office/Factory : |
29, |
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Tel. No.: |
91-22-23700919 |
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Mobile No.: |
91-9820079461 (Mr. Sunil) |
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Fax No.: |
91-22-23700920 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 29.09.2010
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Name : |
Mr. Anil Kalyan Parkar |
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Designation : |
Director |
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Address : |
D-5, Shilpakar Housing Society, Near R.T.O., Char Bunglow, Andheri
(West), Mumbai – 400053, |
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Date of Birth/Age : |
10.04.1958 |
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Date of Appointment : |
03.12.2004 |
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Name : |
Mr. Sunil Kalyan Parkar |
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Designation : |
Director |
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Address : |
C-502, Krishna Galaxy, |
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Date of Birth/Age : |
02.09.1965 |
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Date of Appointment : |
03.12.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
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Names of Shareholders |
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No. of Shares |
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Anil Kalyan Parkar |
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700 |
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Sunil Kalyan Parkar |
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720 |
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Arati Anil Parkar |
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80 |
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Shivani Sunil Parkar |
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80 |
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Total |
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1580 |
As on 29.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of forging |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (60 / 90 days) |
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Purchasing : |
Cash and Credit (60 / 90 days) |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
Union Bank of |
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Facilities : |
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Banking Relations
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-- |
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Auditors : |
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Name : |
A. H. Bohra and Company Chartered Accountant |
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Address : |
A/101, |
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Tel. No.: |
91-22-65184867 / 65840382 |
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E-Mail : |
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Associates/Subsidiaries : |
Mitali Steel Corporation |
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1580 |
Equity Shares |
Rs.100/- each |
Rs.0.158
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.158 |
0.158 |
0.158 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.244 |
0.180 |
0.148 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.402 |
0.338 |
0.306 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.338 |
1.104 |
1.104 |
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TOTAL BORROWING |
0.338 |
1.104 |
1.104 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.740 |
1.442 |
1.410 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.537 |
0.582 |
0.685 |
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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 |
0.109
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0.371 |
0.338 |
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Sundry Debtors |
0.268
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0.245 |
0.062 |
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Cash & Bank Balances |
0.036
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0.201 |
0.241 |
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Other Current Assets |
0.137
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0.124 |
0.104 |
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Loans & Advances |
0.382
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0.382 |
0.382 |
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Total
Current Assets |
0.932
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1.323 |
1.127 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.331
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0.194 |
0.078 |
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Other Current Liabilities |
0.000
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0.000 |
0.000 |
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Provisions |
0.397
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0.269 |
0.324 |
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Total
Current Liabilities |
0.729
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0.463 |
0.402 |
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Net Current Assets |
0.203
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0.860 |
0.725 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.740 |
1.442 |
1.410 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
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0.159 |
0.135 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.095 |
0.103 |
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PROFIT BEFORE
TAX |
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0.064 |
0.032 |
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Less |
TAX |
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NA |
NA |
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PROFIT AFTER TAX |
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NA |
NA |
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.36
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1.68 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.16
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0.09 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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2.65
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4.64 |
4.92 |
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Current Ratio (Current Asset/Current Liability) |
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1.29
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2.86 |
2.80 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONAL RESULT
:
The company has carried on
production as well as labour jobs activities. The Company has produced 47,5871-
Kg. metal forging by achieving turnover of Rs. 290.300 millions and has done
labour jobs works of Rs. 130.100 millions. During the year, the company has
made reasonable Profit of Rs. 0.064 million. The directors are hopeful to
achieve better result in future.
TRADE REFERENCE :
- Seth Brothers
FIXED ASSETS :
- Machinery
- Air Conditioner
- Furniture and Fixture
- Typewriter
- Weighing Machine
- Syntel EPA Box
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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
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|
1 |
Rs.72.92 |
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Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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29 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.