1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ABS INSTRUMENTS
PRIVATE LIMITED |
Principal Name 1 |
Mr. Palghat Narayan Saisankar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Kuzal Mannam Rama Iyer Venkateshwaran |
|
|
|
Registration # |
18 - 020045 |
|
Street Address |
UNIT 21 and 22,
Block 1, SIDCO Electronics Complex, Thiruvika Industrial Estate, Guindy,
Chennai 600032, Tamilnadu, India |
||
|
Established Date |
19.12.1990 |
SIC Code |
-- |
|
Telephone# |
91-44-22500305/22500009 |
Business Style 1 |
Trading |
|
Fax # |
91-44-22500346 |
Business Style 2 |
Commission Agent |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.510,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors – 100% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
-- |
Business Period |
21 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
6,573,000 |
Current Liabilities |
1,751,000 |
|
Inventories |
106,000 |
Long-term Liabilities |
1,804,000 |
|
Fixed Assets |
3,227,000 |
Other Liabilities |
397,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
3,952,000 |
|
Invest& other Assets |
0.000 |
Retained Earnings |
5,444,000 |
|
|
|
Net Worth |
5,954,000 |
|
Total Assets |
9,906,000 |
Total Liab. & Equity |
9,906,000 |
|
Total Assets (Previous Year) |
8,625,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
|
|
|
Sales (Gross Income) |
12,833,000 |
Net Profit |
1,131,000 |
|
Sales(Previous yr) (Gross Income) |
11,731,000 |
Net Profit(Prev.yr) |
124,000 |
MIRA
INFORM REPORT
|
Report Date : |
20.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ABS INSTRUMENTS PRIVATE LIMITED (w.e.f. 23.04.1998) |
|
|
|
|
Formerly Known As
: |
ZWICK TESTING SYSTEMS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
UNIT 21 and 22, Block 1, SIDCO Electronics Complex, Thiruvika
Industrial Estate, Guindy, Chennai - 600 032, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.12.1990 |
|
|
|
|
Com. Reg. No.: |
18-20045 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.510 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007TN1990PTC020045 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA08837D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ0096N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading and Commission Agent |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 24000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is relatively small 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.
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
UNIT 21 and 22, Block 1, SIDCO Electronics Complex, Thiruvika
Industrial Estate, Guindy, Chennai - 600 032, Tamilnadu, India |
|
Tel. No.: |
91-44-22500305 / 22500009 |
|
Fax No.: |
91-44-22500346 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
(As on 20.09.2011)
|
Name : |
Mr. Palghat Narayan Saisankar |
|
Designation : |
Managing Director |
|
Address : |
No.10, Baywatch, Bouldward, Thiruvallur Nagar, Thiruvanmiyur-600032,
Chennai, |
|
Date of Birth/Age : |
09.09.1950 |
|
Date of Appointment : |
29.03.2001 |
|
DIN No.: |
01844628 |
|
|
|
|
Name : |
Mr. Kuzal Mannam Rama Iyer Venkateshwaran |
|
Designation : |
Director |
|
Address : |
73, Kamatchi Apts, |
|
Date of Birth/Age : |
20.10.1944 |
|
Date of Appointment : |
23.05.2003 |
|
DIN No.: |
01844685 |
|
|
|
|
Name : |
Mr. Champavattam Easwaran Gopalkrishnan |
|
Designation : |
Director |
|
Address : |
M 98/4, 30th Cross Street, Besant Nagar-600090, Chennai, |
|
Date of Birth/Age : |
03.03.1940 |
|
Date of Appointment : |
07.09.2005 |
|
DIN No.: |
02056925 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 20.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
P. N. Saishankar |
|
41010 |
|
Vijaya Saishankar |
|
10005 |
|
C. E. Gopalkrishnan |
|
5 |
|
Total |
|
51020 |
(As on 20.09.2011)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Commission Agent |
GENERAL INFORMATION
|
Customers : |
·
Agile Electric Private Limited ·
AM Industries ·
Bajaj Auto Limited ·
Bharath Heavy Electrical Limited ·
Dong A ·
India Oil Corporation Limited, Haryana ·
Lucas TVS Limited ·
Micro Lab ·
JSW Steel Limited ·
Larsen and Turbo Limited ·
Maruti Suzuki Limited |
||||||||||||||||||
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|
||||||||||||||||||
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No. of Employees : |
Not Available |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
·
Andhra Bank, K. K. Nagar Branch – 40, Ramaswamy
Salai, K. K. Nagar-600078, Chennai, ·
HDFC Bank ·
ICICI Bank ·
State Bank of ·
Deutsche Bank |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Kannan and Associates Chartered Accountant |
|
Address : |
No.27, Abdul Razack Sreet, Saidapet – 600015, Chennai, Tamilnadu |
|
PAN No : |
AATFS3904Q |
CAPITAL STRUCTURE
(As on 20.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
51020 |
Equity Share |
Rs.10/- each |
Rs.0.510
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.510 |
0.510 |
0.510 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.444 |
4.312 |
4.188 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5.954 |
4.822 |
4.698 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.804 |
1.656 |
0.973 |
|
|
2] Unsecured Loans |
0.000 |
0.737 |
0.374 |
|
|
TOTAL BORROWING |
1.804 |
2.393 |
1.347 |
|
|
Depreciation Reserve |
0.000 |
0.000 |
1.743 |
|
|
DEFERRED TAX LIABILITIES |
0.397 |
0.368 |
0.351 |
|
|
|
|
|
|
|
|
TOTAL |
8.155 |
7.583 |
8.139 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.227 |
2.567 |
6.331 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.106
|
0.122 |
0.130 |
|
|
Sundry Debtors |
1.549
|
2.787 |
1.066 |
|
|
Cash & Bank Balances |
0.536
|
0.497 |
0.042 |
|
|
Other Current Assets |
3.890
|
1.761 |
1.304 |
|
|
Loans & Advances |
0.598
|
0.891 |
0.449 |
|
Total
Current Assets |
6.679
|
6.058 |
2.991 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.135
|
0.222 |
0.108 |
|
|
Other Current Liabilities |
0.770
|
0.066 |
0.074 |
|
|
Provisions |
0.846
|
0.754 |
1.001 |
|
Total
Current Liabilities |
1.751
|
1.042 |
1.183 |
|
|
Net Current Assets |
4.928
|
5.016 |
1.808 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.155 |
7.583 |
8.139 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
GROSS TOTAL
INCOME |
12.833 |
11.731 |
7.294 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.645 |
0.387 |
1.189 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.514 |
0.263 |
0.482 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.131 |
0.124 |
0.707 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.986 |
2.875 |
2.239 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.113 |
0.012 |
0.071 |
|
|
BALANCE CARRIED
TO THE B/S |
4.004 |
2.987 |
2.875 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5.635 |
NA |
5.216 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.02 |
2.43 |
13.86 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.61
|
4.49 |
12.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.08 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.59
|
1.79 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.81
|
5.81 |
2.53 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The company has recorded a very good performance for the year ended 31st
March 2011. The company’s performance is increased in line with the general
industrial growth but the profit margin was less because of tough competition.
The directors are confident of achieving furthermore turnover and profit during
the next year.
FORM 8
|
Corporate identity number of the company |
U30007TN1990PTC020045 |
|
Name of the company |
ABS INSTRUMENTS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
UNIT 21 AND 22, Block 1, SIDCO Electronics Complex, Thiruvika Ind
Estate, Guindy-600032, Chennai, Tamilnadu |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Andhra Bank, K K Nagar Branch 40 Ramaswamy Salai, K K Nagar, CHENNAI
-600078, Tamil Nadu, INDIA |
|
Nature of instrument creating charge |
Composite Agreement dated 08/06/2010. |
|
Date of instrument Creating the charge |
08.06.2010 |
|
Amount secured by the charge |
Rs.1.000 Million |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest BMPLR + Spread 1.50%
+0.25 T.Tax (12.00+1.50+25=13.75%) presently 13.75% p.a- Terms of
repayment 60 monthly
installments of Rs. 0.017 Million each plus interest and other charges
debited during the month Margin Rs.0.432 Million Extent and
operation of the charge The charge is by
way of first charge for the Term Loan for Rs.1.000 Millions together with all
expenses and charges such as service charges, incidental charges, godown
charges, godown inspection charges, typing and postage expenses, legal notice
expenses which the bank may incur. The charge operates by way of
first charge on all tangible movable machineries. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of furniture, Air
conditioners all tangible movable
machinery and plant (both present and future)
whether installed or not and whether lying loose or in cases or being
in or upon about the borrower’s premises and godown |
FIXED ASSETS
·
Air Condition
·
Building
·
Car
·
Cellphone
·
Computer
·
Plant and Machinery
·
Fax Machine
·
Furniture and Office Equipment
·
Printer
·
Sriperumbadur Plot
·
Testing Machine
·
UTM Machine
·
LCD Projector
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.52.95 |
|
|
1 |
Rs.82.04 |
|
Euro |
1 |
Rs.68.91 |
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 |
YES |
|
--LITIGATION |
NO |
NO |
|
--OTHER ADVERSE INFORMATION |
NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
NO |
NO |
|
--EXPORT ACTIVITIES |
NO |
NO |
|
--AFFILIATION |
NO |
NO |
|
--LISTED |
NO |
NO |
|
--OTHER MERIT FACTORS |
YES |
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.