MIRA
INFORM REPORT
|
Report Date : |
25.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
AMBER ELECTROTECH LIMITED |
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Registered
Office : |
F-3/3, Okhla Industrial Area, Phase – 1, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.11.2005 |
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Com. Reg. No.: |
55-143049 |
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CIN No.: [Company Identification
No.] |
U31909DL2005LC143049 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELA17381A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing services of total electrical engineering, electrical project
contractors |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 150000 |
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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 s 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 – April 1, 2010
|
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
|
Name : |
Mr. Sandeep Tyagi |
|
Designation : |
Director |
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Contact No.: |
91-98182238908 |
|
Date : |
22.01.2011 |
LOCATIONS
|
Registered Office : |
F-3/3, Okhla Industrial Area, Phase – 1, |
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Tel. No.: |
91-11-26819404/26814026 |
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Mobile No.: |
91-9818238908 (Mr. Sandeep Tyagi) |
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Fax No.: |
91-11-26819406 |
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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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Branches : |
601, Casablanc Sector – 11, C.B.D, Belapur, Navi Mumbai – 400614,
Maharashtra, |
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Tel. No.: |
91-22-61379300 |
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E-Mail : |
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Liasioning Office : |
Villa No. 47, Flat No. 1, First Floor , Block No. 1, Street No. Abdul
Rahman Al Ghafigi , |
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Tel. No.: |
956-66463793 |
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E-mail : |
info.kuwait@amberelectrotech.com |
DIRECTORS
As On 30.09.2009
|
Name : |
Mr. Amarjeet Singh Abbot |
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Designation : |
Director |
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Address : |
89 Sukhdev Vihar, |
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Date of Birth/Age : |
06.10.1972 |
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Date of Appointment : |
28.11.2005 |
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DIN No. : |
00062312 |
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Name : |
Mr. Surinder Singh Abbot |
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Designation : |
Director |
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Address : |
89 Sukhdev Vihar, |
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Date of Birth/Age : |
23.08.1934 |
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Date of Appointment : |
28.112005 |
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DIN No. : |
00062842 |
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Name : |
Mrs. Avneet Kaur |
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Designation : |
Director |
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Address : |
89 Sukhdev Vihar, |
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Date of Birth/Age : |
19.08.1973 |
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Date of Appointment : |
28.11.2005 |
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DIN No. : |
01220194 |
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Name : |
Mr. Sandeep Tyagi |
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Designation : |
Director |
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Address : |
26 Ajanta Apartments, Plot No 36, I.P Extension, |
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Date of Birth/Age : |
25.03.1968 |
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Date of Appointment : |
23.09.2009 |
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DIN No. : |
01690334 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2009
|
Names of Shareholders |
|
No. of Shares |
|
Amarjeet Singh Abbot |
|
345000 |
|
Surinder Singh |
|
145000 |
|
Amrit Kaur |
|
5000 |
|
Avneet Kaur |
|
4997 |
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Amarjit Singh |
|
01 |
|
Ravinder Kaur |
|
01 |
|
Sumit Kapur |
|
01 |
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Total |
|
500000 |
As On 30.09.2009
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing services of total electrical engineering, electrical project
contractors |
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Terms : |
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Selling : |
Cash, Credit: 30/60/90 Days |
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Purchasing : |
Cash, Credit: 30/60/90 Days |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
100 (approximately) |
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Bankers : |
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Facilities : |
Cash Credit: Rs. 40.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N. Sharma and Company Chartered Accountant |
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Address : |
512 A Suneja Tower II, Distt Centre Janak Puri, |
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Tel. No.: |
91-11-25501184/25502584 |
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E-Mail : |
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Pan No. : |
ABAPS6249N |
CAPITAL STRUCTURE
As On 30.09.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
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As On 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
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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 |
10.000 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
27.876 |
11.008 |
7.043 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
37.876 |
16.008 |
12.043 |
|
|
LOAN FUNDS |
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|
1] Secured Loans |
35.886 |
10.729 |
12.251 |
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2] Unsecured Loans |
0.000 |
5.342 |
4.659 |
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TOTAL BORROWING |
35.886 |
16.071 |
16.910 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
73.762 |
32.079 |
28.953 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
24.386 |
18.765 |
13.271 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
37.850 |
1.446 |
1.500 |
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DEFERREX TAX ASSETS |
0.715 |
0.453 |
0.179 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
6.018
|
26.426 |
2.075 |
|
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Sundry Debtors |
87.517
|
74.335 |
40.780 |
|
|
Cash & Bank Balances |
7.881
|
9.515 |
2.046 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
45.821
|
20.103 |
18.589 |
|
Total
Current Assets |
147.237
|
130.379 |
63.490 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
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Other Current Liabilities |
136.433
|
118.974 |
48.849 |
|
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Provisions |
0.000
|
0.000 |
0.651 |
|
Total
Current Liabilities |
136.433
|
118.974 |
49.500 |
|
|
Net Current Assets |
10.804
|
11.405 |
13.990 |
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MISCELLANEOUS EXPENSES |
0.007 |
0.010 |
0.013 |
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|
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|
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TOTAL |
73.762 |
32.079 |
28.953 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
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Work Receipts and Sales |
550.746 |
282.393 |
141.353 |
|
|
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Other Income |
1.369 |
0.467 |
0.261 |
|
|
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TOTAL (A) |
552.115 |
282.860 |
141.614 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of sales |
393.083 |
214.635 |
96.612 |
|
|
|
Direct cost |
83.321 |
29.099 |
22.400 |
|
|
|
Staff cost |
26.015 |
13.872 |
8.600 |
|
|
|
Administrative cost |
10.276 |
8.388 |
2.901 |
|
|
|
Selling and distribution expenses |
3.124 |
3.637 |
0.959 |
|
|
|
TOTAL (B) |
515.819 |
269.631 |
131.472 |
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|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.296 |
13.229 |
10.142 |
|
|
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|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
5.218 |
3.738 |
1.571 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
31.078 |
9.491 |
8.571 |
|
|
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.025 |
2.873 |
1.443 |
|
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|
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|
PROFIT BEFORE
TAX (E-F) (G) |
27.053 |
6.618 |
7.128 |
|
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|
|
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Less |
TAX (I) |
10.185 |
2.654 |
4.056 |
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|
PROFIT AFTER TAX
(G-I) (J) |
16.868 |
3.964 |
3.072 |
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|
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|
Expected Sales (2010-2011) : Rs. 1000.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.06
|
1.40 |
5.03 |
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
4.91
|
2.34 |
5.04 |
|
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.76
|
4.44 |
9.28 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.71
|
0.41 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.55
|
8.44 |
5.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.09 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
The Details of Sundry Creditors are not available.
Trade References:
- Nagarjuna
Construction Company Limited
- Power Grid
Corporation of India Limited
- Rattan Singh
Builders Private Limited
Amber Electrotech was a partnership firm and
was established in the year 1947. And in 2005 taken over by Amber Electrotech
Limited.
Financial Results:
During the year
under report the company has achieved the turnover of Rs.550.700 millions and
earned a net profit after taxes of Rs.27.000 millions.
OPERATIONS:
The performance of
the company during the year was satisfactory as the company was able to achieve
turnover of Rs. 550.700 millions and able to earn profit of Rs.27.000/-
millions. The trend in the current year indicating a substantial increase in
revenue and your Directors believe that the turnover and profit of the company
will have a substantial increase.
|
Corporate
identity number of the company |
U31909DL2005PLC143049 |
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|
Name of the company
|
AMBER ELECTROTECH
LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
F-3/3 Okhla
Industrial Area, Phase-I |
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|
This form is for |
Modification of
charge |
||||||
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Type of charge |
Book Debts |
||||||
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Particular of
charge holder |
|
||||||
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Nature of
instrument creating charge |
Letter of
Hypothecation F 110 E |
||||||
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Date of
instrument Creating the charge |
06..08.2010 |
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Amount secured by
the charge |
Rs. 40.000
Millions |
||||||
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest @ Base Rate + 2.25% (Base Rate at present 8.25%). Terms of
Repayment - On Demand. Margin - Margin
on Book Debts @ 40%. Extent and
Operation of the charge -100%. |
||||||
|
Particulars of
the property charged |
Hypothecation of
entire Book Debts of the Company. |
||||||
|
Date of
instrument modifying the charge |
12.05.2009 |
||||||
|
Particulars of
the present modification |
Cash Credit limit
(against book debts) enhanced from Rs. 20.000 millions to Rs. 40.000
millions. |
As per website details:
Profile:
Started in 1958 as
an Electrical-Contracting Agency by Mr. Surinder Singh, Subject has now evolved
into a full-fledged turnkey solution provider with activities ranging from
Substation, Internal and External electrification for conventional as well as
high end solutions.
Subject, now a $20
Million company, works with an aim to provide best-in-class electrical-services
for Internal and External Electrification and Substation jobs at highly
competitive prices. With a highly-passionate team of engineers on board, Amber
Electrotech believes in not only meeting ‘customer-expectations’, but to exceed
them by miles.
Being a well-known
diversified Turnkey Solutions provider, they provide a wide range of electrical
techno-commercial solutions for all Electrical Projects. Amber Electrotech is
fully equipped to handle any types of stringent requirements of its esteemed
clients, related to the following solutions for S.I.T.C jobs and related
clearances from the Concerned Electrical Authorities.
Amber Electrotech
provides the following authentic Techno-commercial solutions for the following Electrical
and Allied Customized requirements:
HV Systems till 33kV Applications:
-VCB and SF6 Panels
till 11 / 33 KV application
Outdoor Breakers and
CRP till 132kV applications
Transformers (Dry /
Oil) suitable for any type of diversified application
Transmission Lines
Customised Solutions for Switchboards till
100kA Applications:
- MCC , PCC
- PMCC
- SDB, LDB, MDB,
Feeder Pillars
- UPS panels,
- PLC cum
Synchronizing panels
- ATS Panels
Internal electrification:
Internal and
External Lighting as per versatile application
Fire alarm System
CCTV / PA System
DB’s and Earthing
system
Raceways and Cable
Trays
Conduiting, Wiring and Miscellaneous
requirements
HT and LT Cabling and associated Terminations
till 33kV Applications:
Light Fixtures, Façade lighting, LED based
Conceptual lighting as per desired Specification.
At Amber Electrotech
Limited, there clients and associates are there most-valuable asset and thus,
they believe in building strategic and long-term engagements with
them.
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.45.58 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.01 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.