MIRA
INFORM REPORT
|
Report Date : |
14.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
AACESS TOUGH DOORS PRIVATE LIMITED |
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Registered
Office : |
Plot No. B/8 and 9/1, IDA, Kukatpally, Gandhi Nagar, Hyderabad-500037
Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
06.04.2006 |
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Com. Reg. No.: |
01-049746 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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CIN No.: [Company Identification
No.] |
U20221AP2006PTC049746 |
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|
IEC No.: |
0906012457 |
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PAN No.: [Permanent Account No.] |
AAFCA6757M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of Metal Doors and Windows. |
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No. of Employees
: |
35 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (19) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established having moderate track. They appear huge
accumulated losses recorded by the company. However, trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a safe and
secured 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Muhammad D. Rafe |
|
Designation : |
Director |
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Contact No.: |
91-9866309943 |
|
Date : |
13.12.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. B/8 and 9/1, IDA, Kukatpally, Gandhi Nagar, Hyderabad-500037
Andhra Pradesh India |
|
Tel. No.: |
91-40-23720040 / 23073064 |
|
Mobile No.: |
91-9866309943 [Mr. Muhammad D. Rafe] |
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Fax No.: |
91-40-23720040 |
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E-Mail : |
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Website : |
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|
Area : |
30000 sq. ft. |
|
Location : |
Owned |
DIRECTORS
AS ON 10.09.2010
|
Name : |
Mr. Muhammad D. Rafe |
|
Designation : |
Director |
|
Address : |
501, |
|
Date of Birth/Age : |
15.01.1965 |
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Qualification : |
BE |
|
Date of Appointment : |
24.08.2009 |
|
Din No.: |
02473034 |
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|
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|
Name : |
Mrs. Ghousia Bano |
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Designation : |
Director |
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Address : |
202, Kamkshi Residency, Patwari Encalve, Opposite IDPL Colony, |
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Date of Birth/Age : |
01.11.1965 |
|
Qualification : |
MSC |
|
Date of Appointment : |
06.04.2006 |
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Din No.: |
02582586 |
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|
|
|
Name : |
Mr. Abdul Shariqh Muhammad |
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Designation : |
Director |
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Address : |
P. No. 19, Sanchar Puri Colony, Bowenpally, Secunderabad-500011,
Andhra Pradesh, India |
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Date of Birth/Age : |
24.07.1990 |
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Date of Appointment : |
27.08.2009 |
|
Din No.: |
02582607 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Muhammad D. Rafe |
|
4000 |
|
Muhammad Sirajupdjn Syed |
|
6000 |
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|
|
|
|
Total |
|
10000 |
AS ON 10.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Metal Doors and Windows. |
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|
|
Products : |
v
Industrial Metal Doors v
Industrial Fire Doors v
Telecom Shelter Doors v
Metal Windows v
Commercial Doors v
Knock Down Portable Partitions v
Metal Windows – Sliding Type with MS Grill |
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Exports : |
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Products : |
Metal Doors and Windows |
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Countries : |
·
Middle East |
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Imports : |
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Products : |
Raw Materials |
|
Countries : |
·
Netherlands ·
US |
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Terms : |
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Selling : |
L/C (90 days) |
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Purchasing : |
L/C (90 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Steel Doors |
MTs |
415 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
35 [Approximately] |
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Bankers : |
Oriental Bank of Commerce, #126, S.D. Road, Secunderabad-00003, Andhra
Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sampath and Ramesh Chartered Accountants |
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Address : |
101 A, Sidharthaharini Apartments, Lower Tank Bund, Opposite MRO
Office, Hyderabad-500080, Andhra Pradesh, India |
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Tel. No.: |
91-40-65585906/27612843/27617319 |
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Fax No.: |
91-40-27617319 |
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Pan No.: |
AAJFS7005C |
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|
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Sister Concern: |
·
Aacess Equipments ·
Aacess Cranes |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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 |
0.100 |
0.100 |
0.100 |
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|
2] Share Application Money |
4.255 |
1.801 |
1.830 |
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|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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|
4] (Accumulated Losses) |
(2.079) |
(1.405) |
(0.435) |
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|
NETWORTH |
2.276 |
0.496 |
1.495 |
|
|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
1.632 |
2.619 |
2.995 |
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|
2] Unsecured Loans |
0.110 |
0.110 |
0.000 |
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|
TOTAL BORROWING |
1.742 |
2.729 |
2.995 |
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DEFERRED TAX LIABILITIES |
0.021 |
0.017 |
0.011 |
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TOTAL |
4.039 |
3.242 |
4.501 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.473 |
1.951 |
2.204 |
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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 |
1.810
|
1.395 |
1.533 |
|
|
Sundry Debtors |
0.466
|
0.198 |
0.923 |
|
|
Cash & Bank Balances |
0.088
|
0.006 |
0.001 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.160
|
0.135 |
0.182 |
|
Total
Current Assets |
2.524
|
1.734 |
2.639 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.160
|
0.872 |
0.683 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.236
|
0.120 |
0.208 |
|
Total
Current Liabilities |
1.396
|
0.992 |
0.891 |
|
|
Net Current Assets |
1.128
|
0.742 |
1.748 |
|
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|
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MISCELLANEOUS EXPENSES |
0.438 |
0.549 |
0.549 |
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TOTAL |
4.039 |
3.242 |
4.501 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
|
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|
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Income |
2.700 |
1.641 |
2.916 |
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EXPENSES |
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Raw Material Consumed |
1.552 |
0.597 |
2.011 |
|
|
|
Manufacturing and Administrative Expenses |
0.456 |
0.771 |
0.822 |
|
|
|
TOTAL |
2.008 |
1.368 |
2.833 |
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|
|
|
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|
DEPRECIATION/
AMORTISATION |
0.334 |
0.321 |
0.362 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
9.000 |
Expected Sales (2011-12) : Rs.20.000 Millions.
The above information has been parted by Mr. Muhammad D. Rafe.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.38
|
7.50 |
2.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.75 |
2.96 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last one year |
Yes |
|
12) Profitability for last one year |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
-- |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
PROSPECT OF THE COMPANY:
The company had suffered few set back in the marketing and manufacturing
during the initial period. But later the company had overcome all the earlier
problems and concentrated on the business due to which the turnover has been increased
to the satisfactory level. The directors are confident to take their companies
turnover more than 6.000 millions in the coming financial year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U20221AP2006PTC049746 |
|
Name of the company |
AACESS TOUGH DOORS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
202 Kamakshi Residency, Patwari Enclave, IDPL Colony, Hyderabad – 500
037, Andhra Pradesh, India |
|
Type of charge |
Book Debts Movable Property (not being pledge) |
|
Particular of charge holder |
Oriental Bank of Commerce, #126, S.D. Road, Secunderabad-00003, Andhra
Pradesh, India |
|
Email |
|
|
Nature of description of the instrument
creating or modifying the charge |
1) Agreement of hypothecation of assets; 2) Common agreement |
|
Date of instrument Creating the charge |
16.12.2006 |
|
Amount secured by the charge |
Rs.5.000 Millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest At PLR i.e., @11.50% p.a. At present, with
monthly rests, subject to changes in PLR/spread announced by the bank and
subject to changes by RBI from time to time. Terms of Repayment Repayable On Demand. Margin 25% On Stocks and Receivables. Extent and Operation of the charge The entire loan amount shall be utilised
for the purpose for which it was sanctioned. Others Collaterally secured by (a) personal
guarantees of (1) Mrs. Ghousia Bano
(2) Mr. Md. Rafie (3) Mr. Nazeeer Miyan and (4) Mrs. Mohamooda and (b) entire
fixed assets of the company(present and future) |
|
Short particulars of the property charged |
1) Hypothecation of stock of raw
materials, stock in process, finished goods and receivables of the company; 2) Hypothecation of all fixed assets of
the company, both present and future; |
FIXED ASSETS:
·
Plant and Machinery
·
Tools and Testing
Equipments
·
Electrical Fittings
·
Furniture and Fittings
·
Computers
·
Vehicles
·
Technical Know and How
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.53.40 |
|
|
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.70.44 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
19 |
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.