MIRA
INFORM REPORT
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Report Date : |
24.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ZEN AIR TECH PRIVATE LIMITED |
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Registered Office : |
CM-14, GIDC Estate, Sidheshwari Estate,
Near New BSNL Telephone Exchange, Naroda, Ahmedabad - 382330,Gujarat. |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
08.06.2005 |
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Com. Reg. No.: |
04-046205 |
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Capital Investment / Paid-up Capital : |
Rs.1.650 Millions |
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CIN No.: [Company
Identification No.] |
U29190GJ2005PTC046205 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMZ00173F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Air Compressor and Vacuum
Pumps, Booster Compressors , Compressor Accessories. |
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No. of Employees
: |
50 (Approximately) (In Office + In Factory) |
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 15000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade relations
are reported as fair.Business is active. Payments are reported to be slow but
correct The company can be considered for small 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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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. Ritesh |
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Designation : |
Accounts Head |
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Contact No.: |
91-79-22840037 |
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Date : |
14.12.2011 |
LOCATIONS
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Registered
Office/Factory : |
CM-14, GIDC Estate, Sidheshwari Estate, Near
New BSNL Telephone Exchange, Naroda, Ahmedabad - 382330,Gujarat,India |
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Tel. No.: |
91-79-22840037 |
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Mobile No.: |
91-9328682285 (Mr. Guatam Patel)
/ 9328423099 (Mr. Vinod Panchal) / 93286
82290 (Mr. Komal Patel) |
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Fax No.: |
91-79-22829820 |
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E-mail : |
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Website : |
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Area : |
17000 Sq. Ft. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Natwarlal Karsanbhai Panchal |
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Designation : |
Director |
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Address : |
A-22-689, Pratikkunj Co-operative Housing
Society, Sanket Bungalows, |
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Date of
Birth/Age : |
19.12.1968 |
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Qualification : |
B. Com |
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Date of
Appointment : |
08.06.2005 |
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DIN No.: |
01254929 |
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Other
Directorship :
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Name : |
Mr. Vinodkumar Karsandas Panchal |
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Designation : |
Director |
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Address : |
53/2,Mohannagar Society, Naroda,
Ahmedabad- 382330, |
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Date of
Birth/Age : |
22.06.1969 |
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Qualification : |
B. Com |
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Date of
Appointment : |
31.03.2007 |
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DIN No.: |
01423133 |
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KEY EXECUTIVES
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Name : |
Mr. Ritesh |
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Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Natwarlal Karshanbhai Panchal |
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60500 |
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Vinodkumar Karsandas Panchal |
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59500 |
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Rekhaben Natwarlal Panchal |
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22500 |
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Naynaben Vinodkumar Panchal |
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22500 |
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Total |
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165000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
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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 Air Compressor and Vacuum Pumps,
Booster Compressors , Compressor Accessories. |
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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 : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Credit (30 Days and 60 Days) |
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Purchasing : |
Credit (30 Days and 60 Days) |
PRODUCTION STATUS
As On 31.03.2011
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Air Compressors and Parts |
-- |
Not Required |
-- |
-- |
Note
In View of variety of models and type of
compressors installed capacity could not be ascertained
GENERAL INFORMATION
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No. of Employees
: |
50 (Approximately) (In Office + In Factory) |
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Bankers : |
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Facilities : |
Secured Loans (Rs.
in Millions)
Unsecured Loans (Rs.
in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Patel Mohan Ramesh and Company Chartered Accountants |
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Address : |
C-20,Second Floor, |
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Tel No.: |
91-79-22813383 / 22818409 |
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E-mail : |
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PAN No.: |
AABFP5408N |
CAPITAL STRUCTURE
As On 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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165000 |
Equity Shares |
Rs. 10/- each |
Rs.1.650 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.650 |
0.550 |
0.400 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.072 |
1.470 |
0.961 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.722 |
2.020 |
1.361 |
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LOAN FUNDS |
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1] Secured Loans |
4.916 |
2.138 |
3.648 |
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2] Unsecured Loans |
3.425 |
0.845 |
0.408 |
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TOTAL BORROWING |
8.341 |
2.983 |
4.056 |
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DEFERRED TAX LIABILITIES |
0.009 |
0.000 |
0.000 |
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TOTAL |
12.072 |
5.003 |
5.417 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.009 |
1.210 |
0.479 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.126 |
0.071 |
0.103 |
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DEFERREX TAX ASSETS |
0.000 |
0.017 |
0.023 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.019 |
2.740 |
3.439 |
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Sundry Debtors |
6.170 |
5.700 |
4.656 |
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Cash & Bank Balances |
1.415 |
0.212 |
0.018 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
6.559 |
1.920 |
1.526 |
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Total Current Assets |
25.163 |
10.572 |
9.639 |
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Less : CURRENT LIABILITIES &
PROVISIONS |
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Sundry Creditors |
10.839 |
5.634 |
3.735 |
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Current Liabilities |
4.153 |
0.996 |
0.856 |
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Provisions |
0.264 |
0.237 |
0.244 |
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Total Current Liabilities |
15.256 |
6.867 |
4.835 |
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Net Current Assets |
9.907 |
3.705 |
4.804 |
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MISCELLANEOUS EXPENSES |
0.030 |
0.000 |
0.008 |
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TOTAL |
12.072 |
5.003 |
5.417 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
35.951 |
28.070 |
24.744 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
33.709 |
26.529 |
23.611 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.241 |
1.542 |
1.133 |
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Less |
FINANCIAL
EXPENSES (D) |
1.112 |
0.642 |
0.480 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.129 |
0.900 |
0.653 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.228 |
0.145 |
0.139 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.901 |
0.755 |
0.514 |
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Less |
TAX (I) |
0.299 |
0.246 |
0.241 |
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PROFIT AFTER TAX
(G-I) (J) |
0.602 |
0.509 |
0.273 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.470 |
0.961 |
0.680 |
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BALANCE CARRIED
TO THE B/S |
2.072 |
1.470 |
0.961 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
0.019 |
2.110 |
0.155 |
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TOTAL EARNINGS |
0.019 |
2.110 |
0.155 |
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Earnings Per Share
(Rs.) |
3.65 |
9.25 |
6.83 |
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Particulars |
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31.03.2011 |
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Sales Turnover (Approximately) |
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30.000 |
Expected Sales (2011-2012) : Rs.40.000 Millions
The above information has been parted by Mr. Ritesh.
KEY RATIOS
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PARTICULARS |
|
31.032011 |
31.03.2010 |
31.03.2009 |
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PAT / Total
Income |
(%) |
1.67 |
1.81 |
1.10 |
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Return on Total
Assets (PBT/Total
Assets} |
(%) |
3.32 |
6.46 |
5.08 |
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Return on
Investment (ROI) (PBT/Networth) |
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0.24 |
0.37 |
0.38 |
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Debt Equity
Ratio (Total
Liability/Networth) |
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6.34 |
4.88 |
6.53 |
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Current Ratio (Current
Asset/Current Liability) |
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1.65 |
1.54 |
1.99 |
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LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
No |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
NOTE
The registered office address of the
company has been shifted from CM-12 Near Telephone Exchange, GIDC,
Naroda,
Ahmedabad – 382330,
FORM 8
|
Corporation identity number or foreign company registrations number of
the company |
U29190GJ2005PTC046205 |
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Name of the company |
ZEN AIR TECH PRIVATE LIMITED |
|
Address |
CM-12,Near
Telephone Exchange, GIDC, Naroda, Ahmedabad – 382330, E-mail
: info@zenairtech.com |
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This Form is for |
Modification of Charge |
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Charge
identification (ID) number of the charge to be modified |
10233484 |
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Type of Charges |
Book Debts Movable Property (Not being pledge) |
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Particular of the charge holder
|
Cosmos
Co-Operative Bank, Naroda Road Branch, Beside Satluj Hotel, Near S. T.
Workshop, Naroda Road, Ahmedabad - 380025, Gujarat, India Email Id : manoj.shah@cosmosbank.in |
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Nature or description of the instrument creating charge |
Deed of hypothecation of stock, book debts and machinery |
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Date of the instrument creating charge |
20.07.2010 |
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Amount Secure by the charge |
Rs.5.000 Millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest 11.50% per annum Terms of Repayment Repayable on demand / review within 12
months Margin As per the norms of the bank. Extent and operation of the charge The charge shall operate in favour of the
cosmos co. operative bank limited To secure advances of Rs.5.000 Millions. Charge to act as continuing security |
|
Short particulars of the Property charged |
All the stock in trade, raw materials, goods in process, semi -manufactured and manufactured goods, semi - finished products All the present and future book debts, outstanding moneys, receivables, claims etc. And more particularly described in schedule I of the deed All the borrower's movable machinery, plant and equipments with their accessories and spare parts belonging to the borrower |
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Particulars of
the present modification |
The charge created on 17.07.2010 for Rs.5.000 Millions is further secured by hypothecation of stocks, book debts and machinery as mentioned in schedule I of the deed. |
FIXED ASSETS:
- Computer
- Motor Car
- Office Equipment
- Office Furniture
- Pattern
- Plant and Machinery
- Factory Shed
- Scooter
- Mobile Phone
WEBSITE DETAILS
Company Profile
Subject. " are manufacturers Air
Compressors, Vacuum Pumps, Booster Compressors & Compressor accessories.
They have high operating efficiency with low specific horse power & are
available in various operating parameters to suit the market requirement.
They are compact reciprocating units, having balanced ‘V’ configuration and are
manufactured in their
mostmodern factories, where state of art manufacturing processes are used.
Their team of dedicated professionals ensure
strict adherence to quality measures so as to deliver quality products &
services to the delight of their
customers.
Product
improvement & value addition is a continuous process at Zen Air Tech.
Their compressors are the result of dedicated,
disciplined and result-oriented combined efforts of their technical & administrative staff and
workers, totaling more than 150 in their various units. These value packed compressors offer “DEPENDABLE AND LONG LASTING” services
for various application in variety of industries
What makes ZEN AIR
TECH the first choice
·
Designed for continuous / intermediate duty
·
Air receiver conforming to IS-2825
·
Long life to motor due to no load staring ensured by
built-in unload
·
Optimal operating speed for longer service life
·
Sturdy, robust cast iron Crankcase
·
Pressure relied Valve provided after each stage of
compression for safety
·
Efficient air filter to ensure clean intake air for long
service life
·
Low expansion aluminum alloy piston with international
standard piston rings for positive sealing at elevated temperature
- High Pressure Air
Compressor Water Cooled - Inter Cooling Systems
- High Pressure
Compressors
- Two Stage Compressors
- Single Stage
Compressors
- Vertical Water Cooled Lub
/ Non Lub
- Vacuum Pumps
- Air Receivers
- Air Dryers
- Auto Drain Valves
- Filter for Air
Compressors
- Water Cooled After
Coolers
- Precision Machining
Components
- Spare Parts
- Standard Scope of
Supply
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. 52.72 |
|
|
1 |
Rs. 82.71 |
|
Euro |
1 |
Rs. 68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT
FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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.