MIRA
INFORM REPORT
|
Report Date : |
12.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
AMA PRIVATE LIMITED |
|
|
|
|
Formerly known As : |
PHOTO, CINE, SOUND AGENCIES LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
18.10.1938 |
|
|
|
|
Com. Reg. No.: |
11-002850 |
|
|
|
|
Paid-up Capital : |
Rs. 2.217 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51109MH1938PTC002850 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA18462D |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and
Importer of Aviation Lighting Equipment. |
|
|
|
|
No. of Employees : |
Information not
divulged by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION DENIED BY
|
Name : |
Mr. Rahul Patel |
|
Designation : |
Director |
LOCATIONS
|
Registered Office / Head Office : |
|
|
Tel. No.: |
91-22-22075271-2
/ 66396571-2 |
|
Fax No.: |
91-22-22078910 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
125/126, Champaklal
Industrial Estate, |
|
Tel. No.: |
91-22-24091398 |
|
|
|
|
Branches : |
E78 Anand Niketan, |
DIRECTORS
As On 30.09.2010
|
Name : |
Mrs. Minal Girish
Patel |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
13.10.1939 |
|
Date of Appointment : |
01.01.1972 |
|
DIN No.: |
00273313 |
|
|
|
|
Name : |
Mr. Sameer Girish
Patel |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
04.02.1967 |
|
Date of Appointment : |
01.10.1989 |
|
DIN No.: |
00272992 |
|
|
|
|
Name : |
Ms. Hema Rahul
Patel |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.09.1964 |
|
Date of Appointment : |
06.01.1992 |
|
DIN No.: |
00349439 |
|
|
|
|
Name : |
Ms. Sangeeta
Sameer Patel |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
25.01.1966 |
|
Date of Appointment : |
14.12.1993 |
|
DIN No.: |
00273458 |
|
|
|
|
Name : |
Mr. Rahul Girish Patel |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
12.05.1965 |
|
Date of Appointment : |
29.09.1983 |
|
DIN No.: |
00273160 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rahul G Patel |
|
759 |
|
Sameer G Patel |
|
758 |
|
Minal G Patel |
|
700 |
|
Total |
|
2217 |
As On 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Importer of Aviation Lighting Equipment. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information not
divulged by management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Indian
Overseas Bank, 2/10, ·
HSBC ·
HDFC
Bank ·
ICICI
Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
(Rs.
In Millions)
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pradeep B. Bhatt and Company Chartered Accountants |
|
Address : |
53/54, Krishna Niwas, 4th Floor, Near |
|
Pan No.: |
AABPB2421P |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2400 |
Equity Shares |
Rs.1000/- each |
Rs.2.400 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
69 |
Ordinary Shares allotted
to vendors as fully paid up pursuant to a contract without payment having
been received in cash |
Rs. 1000/- each |
Rs.0.069
Million |
|
1938 |
Ordinary Shares |
Rs. 1000/- each |
Rs.1.938
Millions |
|
210 |
Ordinary Shares allotted
as fully paid up by way of Bonus |
Rs. 1000/- each |
Rs.0.210
Million |
|
|
Total |
|
Rs. 2.217 Millions |
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 |
2.217 |
2.217 |
2.217 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
26.555 |
14.404 |
6.952 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.772 |
16.621 |
9.169 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.201 |
1.775 |
3.524 |
|
|
2] Unsecured Loans |
13.286 |
11.450 |
14.084 |
|
|
TOTAL BORROWING |
19.487 |
13.225 |
17.608 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.021 |
0.022 |
|
|
|
|
|
|
|
|
TOTAL |
48.259 |
29.867 |
26.799 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
14.053 |
11.982 |
11.640 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
14.025 |
6.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.192 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.311
|
5.988
|
10.780
|
|
|
Sundry Debtors |
35.797
|
26.321
|
38.402
|
|
|
Cash & Bank Balances |
18.198
|
27.271
|
11.657
|
|
|
Other Current Assets |
9.961
|
4.884
|
7.296
|
|
|
Loans & Advances |
13.817
|
30.028
|
21.055
|
|
Total
Current Assets |
85.084
|
94.492
|
89.190
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.274 |
23.132 |
33.097
|
|
|
Other Current Liabilities |
43.955
|
47.572
|
34.016
|
|
|
Provisions |
12.866
|
11.904
|
6.919
|
|
Total
Current Liabilities |
65.095
|
82.608
|
74.032
|
|
|
Net Current Assets |
19.989
|
11.884
|
15.158
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
48.259 |
29.867 |
26.799 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
167.605 |
192.533 |
114.500 |
|
|
|
Other Income |
30.310 |
17.205 |
21.451 |
|
|
|
TOTAL (A) |
197.915 |
209.738 |
135.951 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
95.284 |
117.805 |
98.026 |
|
|
|
Manufacturing and other expenses |
81.457 |
71.925 |
35.503 |
|
|
|
Increase/Decrease in inventories |
(1.323) |
4.791 |
(3.592) |
|
|
|
25% share of loss in AMA Engg. Company |
0.003 |
0.011 |
0.033 |
|
|
|
TOTAL (B) |
175.421 |
194.532 |
129.970 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.494 |
15.206 |
5.981 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.494 |
15.206 |
5.981 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.030 |
2.743 |
2.065 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
19.464 |
12.463 |
3.916 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
7.312 |
5.011 |
2.293 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
12.152 |
7.452 |
1.623 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.360 |
6.908 |
5.285 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
26.512 |
14.360 |
6.908 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software development charges |
-- |
9.885 |
0.000 |
|
|
|
Commission |
22.697 |
7.984 |
20.236 |
|
|
TOTAL EARNINGS |
22.697 |
17.869 |
20.236 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5481.14 |
3361.24 |
731.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.14
|
3.55
|
1.19
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.61
|
6.47
|
3.42
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.63
|
11.71
|
3.88
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.68
|
0.75
|
0.42
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.94
|
0.38
|
9.99
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.14
|
1.20
|
LOCAL AGENCY FURTHER INFORMATION
The details of
sundry creditors
Rs.
In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
|
|
|
|
M.S.ME. |
2.496 |
0.945 |
1.230 |
|
Others |
5.778 |
22.187 |
31.867 |
|
Total |
8.274 |
23.132 |
33.097 |
Operations:
The Sales during the year were Rs. 167.605 millions resulting in net profit of Rs.12.152 millions as shown above. The prospects for the activities of the Company remain favourable.
Contingent Liabilities: (As on 31.03.2010)
In respect of Bank
Guarantee issued to the various parties by Indian Overseas Bank on our behalf
Rs. 14.721 millions
Form 8:
|
This form is for |
Modification of
charge |
||||||
|
Charge
identification number of the modified |
90229354 |
||||||
|
Corporate
identity number of the company |
U51109MH1938PTC002850 |
||||||
|
Name of the
company |
AMA PRIVATE
LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
|
||||||
|
Type of charge |
Book Debts Movable Property Immovable
Property |
||||||
|
Particular of
charge holder |
|
||||||
|
Nature of
description of the instrument creating or modifying the charge |
a) Letter of
Hypothecation (Form 110-E). b) Deed of Third
Extension of Equitable Mortgage. |
||||||
|
Date of
instrument Creating the charge |
12.01.2009 |
||||||
|
Amount secured by
the charge |
Rs. 30.000
Millions |
||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
– Cash Credit : Interest
@ BPLR - 0.75% p.a. Letter of
Guarantee : Commission as per circulars in force. Terms of
Repayment – Repayable on demand. Margin – Cash Credit :
Stocks - 25%; Book Debts - 50% Letter of
Guarantee : 10% Extent and Operation
of the charge – The charge is to operate as security for the due repayment of
the Cash Credit limit of Rs.7.000 millions and Letter of Guarantee limit of
Rs.23.000 millions aggregating to Rs.30.000 millions together with interests,
additional interests, costs, charges, expenses and all other moneys payable
by the Company to the Bank in terms of sanction. Others – Facility Limit (Rs. in millions) Existing Revised --------- ---------- ----------- Cash Credit 6.000 7.000 Cheque
Purchase 2.000 NIL Term Loans 2.826 NIL Letter of
Credit 1.000 NIL Letter of
Gtee. 12.500 23.000 ----------- ---------- Total 24.326 30.000 |
||||||
|
Short particulars
of the property charged |
A) Hypothecation,
by way of first charge, of all the company's : a) stocks of raw
materials, work in progress and finished goods which are stored or to be
stored at the company's premises or elsewhere. b) book debts,
receivables and other claims which are due and owing to the company from time
to time. c) present and
future plant and machinery installed / to be installed at the premises of the
company or elsewhere. B) Extension of
EM of the immovable properties mentioned |
||||||
|
Date of latest
modification prior to the present modification |
26.12.2005 |
||||||
|
Particulars of
the present modification |
The Cash Credit
limit has been enhanced from Rs.6.000 millions to Rs.7.000 millions, Letter
of Guarantee limit has been enhanced from Rs.12.500 millions to Rs.23.000
millions and all other limits namely Cheque purchase limit, Term Loan and
Letter of Credit limit have been closed. Hence the total amount secured by
the charge stands enhanced from Rs.24.326 millions to Rs.30.000 millions. |
Fixed Assets
- Factory Premises Gala
- Plant and Machinery
- Tools
and equipment
- Weighing
scale
- Office Equipment
- Furniture and Fixtures
- Xerox Machine
- Fax Machine and cell phone
- Franking
machine
- Motor Car
- Cycle
- General
Equipments
- Testing
Equipments
- Water Purifier
- Motor Cycles
- Air Conditioner
- JCB
- Camera
- Generator
- MS Bunk House
- Tata – D207 Crew cab
- Land
- Tools and Equipments
- Electrical fittings
- Refrigerator
- Computer and Printer
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.44.37 |
|
|
1 |
Rs.70.83 |
|
Euro |
1 |
Rs.62.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
6 |
|
--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 |
|
48 |
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.