MIRA
INFORM REPORT
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Report Date : |
29.07.2011 |
IDENTIFICATION DETAILS
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Name : |
AVIANS INNOVATIONS TECHNOLOGY PRIVATE LIMITED [w.e.f. 10.10.2007] |
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Formerly Known As : |
AMCO METFAB PRIVATE LIMITED |
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Registered Office : |
Plot No. 615, Sector 25, Pradhikaran, Nigdi, Pune – 411044, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
24.03.2007 |
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Com. Reg. No.: |
25-129844 |
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Capital Investment
/ Paid-up Capital : |
Rs.5.475 Millions |
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CIN No.: [Company
Identification No.] |
U27104PN2007PTC129844 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEA09306D |
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PAN No.: [Permanent
Account No.] |
AAGCA2229N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture of entrance door automation, entrance system automation |
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No. of Employees : |
40 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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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 30000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are as fair. Business is active. Payments are reported to be slow. The Company can be considered for business dealings with some
cautions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
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Name : |
Mr. Rao |
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Designation : |
Accountant |
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Contact No. : |
91-20-65112222 |
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Date : |
27.07.2011 |
LOCATIONS
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Registered
Office : |
Plot No. 615, Sector 25, Pradhikaran, Nigdi, Pune – 411044, |
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Tel. No.: |
91-20-65112222 / 23 / 32416262 / 63 |
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Fax No.: |
91-20-27490570 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Factory 1 : |
Gate No. 769
Kudalwadi, Chikhli, Pune, |
DIRECTORS
As on 24.09.2010
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Name : |
Mr. Nitesh Mathurbhai Makwana |
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Designation : |
Director |
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Address : |
Plot No. 615, Sector 25, Pradhikaran, Nigdi, Pune – 411044, |
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Date of Birth/Age : |
26.08.1974 |
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Date of Appointment : |
24.03.2007 |
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DIN : |
00171110 |
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Other Directorship : |
Envale Systems Private Limited CIN :U72100GJ2006PTC048432 |
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Name : |
Mr. Amit Mathurbhai Makwana |
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Designation : |
Director |
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Address : |
Plot No. 615, Sector 25, Pradhikaran, Nigdi, Pune – 411044, |
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Date of Birth/Age : |
31.12.1976 |
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Date of Appointment : |
24.03.2007 |
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DIN : |
00171214 |
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Name : |
Mr. Vijay Mahadeo Tarak |
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Designation : |
Director |
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Address : |
8/1 Coromant Housing Society, Sector – 27, Pradhikaran, Nigdi, Pune – 411044,
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Date of Birth/Age : |
24.10.1974 |
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Date of Appointment : |
10.02.2008 |
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DIN : |
01999574 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2010
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Names of Shareholders |
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No. of Shares |
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Nitesh Mathurbhai Makwana |
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182500 |
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Amit Mathurbhai Makwana |
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182500 |
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Vijay Mahadeo Tarak |
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182500 |
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Total |
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547500 |
AS ON 24.09.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacture of entrance door automation, entrance system automation |
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Products : |
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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 : |
L/C / Cash / Credit |
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Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
40 [Approximately] |
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Bankers : |
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Facilities : |
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Banking Relations
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-- |
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Auditors : |
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Name : |
Kishor Gujar and Associates Chartered Accountants |
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Address : |
Office No. 2,Mahalaxmi Heights, 1st Floor, Opposite Honda
Showroom, Pimpri, Pune – 411018, Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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547,500 |
Equity Shares |
Rs. 10/-
each |
Rs.5.475
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.475 |
5.475 |
0.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.073 |
0.681 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.726) |
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NETWORTH |
7.548 |
6.156 |
(0.426) |
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LOAN FUNDS |
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1] Secured Loans |
4.942 |
0.527 |
0.000 |
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2] Unsecured Loans |
3.872 |
0.000 |
3.183 |
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TOTAL BORROWING |
8.814 |
0.527 |
3.183 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.362 |
6.683 |
2.757 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.603 |
0.890 |
0.158 |
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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 |
3.005
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1.166 |
2.868 |
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Sundry Debtors |
14.187
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5.407 |
1.813 |
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Cash & Bank Balances |
0.168
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0.567 |
1.884 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
2.393
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1.250 |
0.921 |
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Total
Current Assets |
19.753
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8.390 |
7.486 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.497
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0.439 |
1.891 |
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Sundry Creditors |
6.643
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1.607 |
3.592 |
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Provisions |
2.549
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1.345 |
0.297 |
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Total
Current Liabilities |
9.689
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3.391 |
5.780 |
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Net Current Assets |
10.064
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4.999 |
1.706 |
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MISCELLANEOUS EXPENSES |
0.695 |
0.794 |
0.893 |
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TOTAL |
16.362 |
6.683 |
2.757 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES AND OTHER
INCOME |
51.950 |
38.538 |
7.477 |
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PROFIT BEFORE
TAX |
2.191 |
2.316 |
[0.920] |
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Less |
TAX |
0.769 |
0.830 |
0.90 |
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PROFIT AFTER TAX
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1.422 |
1.486 |
[1.010] |
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
2.74
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3.85 |
[13.51] |
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Net Profit Margin (PBT/Sales) |
(%) |
4.22
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6.01 |
[12.30] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.64
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24.95 |
[12.03] |
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Return on Investment (ROI) (PBT/Networth) |
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0.29
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0.38 |
[2.16] |
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Debt Equity Ratio (Total Liability/Networth) |
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2.45
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0.64 |
[21.04] |
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Current Ratio (Current Asset/Current Liability) |
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2.04
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2.47 |
1.29 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
:
During the year ended on
31st March, 2010 Sales and other income amounted to Rs.51.950 millions in
comparison to Rs.38.538 millions in the previous year. Company has made Net
profit of Rs.1.422 millions in comparison to Net profit of Rs.1.486 millions in
the previous year. Company is taking necessary steps to increase its profitability further by
imposing strict control over overheads.
FUTURE
PLANS : Company is taking necessary steps to increase its operations
successfully.
Sundry Creditors
Details
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Particulars
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31.03.2010 Rs. in millions |
31.03.2009 Rs. in millions |
31.03.2008
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1 A Mathurbhai and Company |
3.187 |
0.943 |
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2 Ambit Software Private Limited |
0.032 |
0.000 |
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3 A.N. Hussunally and Company |
0.002 |
0.000 |
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4 Anil Murlidhar Ingale |
0.003 |
0.000 |
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5 Arvind Maurya |
0.084 |
0.000 |
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6 Ashwini Tempo Service |
0.006 |
0.000 |
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7 ASM Hydraulics |
0.095 |
0.000 |
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8 Astavinayak Enterprises |
0.001 |
0.000 |
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9 |
0.002 |
0.000 |
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10 Chidatcash Interiors |
0.118 |
0.000 |
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11 Deva Graphics |
0.005 |
0.001 |
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12 Economic Research |
0.010 |
0.000 |
NA |
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13 Elero Motors and.
Control Private Limited |
0.294 |
0.173 |
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14 EPC World |
0.008 |
0.000 |
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15 FAAC |
0.418 |
0.273 |
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16 Fulsundar Nilesh Baban |
0.001 |
0.000 |
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17 |
0.059 |
0.000 |
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18 Icon Infotine Private Limited |
0.023 |
0.000 |
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19 I ED Communication Private Limited |
0.572 |
0.000 |
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20 Indian Entrance Automation |
0.081 |
0.000 |
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21 Jaidep Electrical |
0.008 |
0.000 |
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22 Jigar Enterprises |
0.021 |
0.000 |
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23 Kulwant Panesar |
0.014 |
0.000 |
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24 Kunal Engineering |
0.231 |
0.000 |
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25 Matrix Solution |
0.008 |
0.000 |
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26 MB Publishers
Private Limited |
0.008 |
0.000 |
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27 Millennium Cargo Carriers |
0.033 |
0.000 |
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28 MoreshchiS.R.L |
0.197 |
0.000 |
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29 NBM Media Private Limited |
0.014 |
0.000 |
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30 Neulogic |
0.023 |
0.000 |
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31 Nidhi Pest Control Services |
0.002 |
0.000 |
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32 Omkar Electrotech Systems |
0.039 |
0.000 |
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33 Parikh Engineering Corp. |
0.006 |
0.000 |
NA |
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34 Pawn Technology Private Limited |
0.005 |
0.000 |
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35 Pegasus Enterprises |
0.002 |
0.000 |
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36 Prince Ply |
0.033 |
0.000 |
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37 P.S. Control and Switchgear |
0.016 |
0.000 |
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38 Ram Glasses and Aluminium Works |
0.005 |
0.000 |
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39 S.A Electronic |
0.012 |
0.000 |
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40 Safa Enterprises |
0.000 |
0.000 |
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41 Saligram Vistiwakarma |
0.024 |
0.000 |
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42 Shailaja Computers |
0.013 |
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43 Shani Krupa Tour and Travels |
0.014 |
0.000 |
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44 Shardha Decor |
0.066 |
0.000 |
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45 Shree Sai Consultancy and Placement Services |
0.012 |
0.000 |
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46 Shrestha Logistics |
0.0.21 |
0.049 |
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47 Shrijee Sales Corporation |
0.510 |
0.000 |
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48 Suryakant Talari |
0.075 |
0.000 |
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49 Suryodaya Hotel |
0.008 |
0.000 |
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50 Team Work Logistics Pvl Ltd. |
0.001 |
0.000 |
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51 Tettortika Wireless Solutions |
0.084 |
0.000 |
NA |
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52 Uniworld Logistics Pvt Ltd |
0.075 |
0.000 |
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53 V2 Engineering Systems |
0.025 |
0.000 |
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54 VinPly |
0.018 |
0.000 |
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55 VipraServicesPvtLtd. |
0.017 |
0.000 |
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56 Shri Shankeshwar Ceramics |
0.002 |
0.000 |
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57 Kishore Gujjar and Associates |
0.000 |
0.069 |
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58 P. N.
Moorthy |
0.000 |
0.045 |
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59 Prism IT Solutions
Private Limited |
0.000 |
0.004 |
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60 Oasis Enterprises |
0.000 |
0.001 |
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Total |
6.643 |
1.607 |
NA |
Bankers Charges
Report as per Registry
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Corporate identity
number of the company |
U27104PN2007PTC129844 |
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Name of the
company |
AVIANS INNOVATIONS TECHNOLOGY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No. 615, Sector 25, Pradhikaran, Nigdi, Pune – 411044, |
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This form is for |
Creation of
charge |
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Type of charge |
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Particular of
charge holder |
United Bank of |
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Nature of
instrument creating charge |
Hypothecation
agreement for Goods, Book debts, Plant and Machineries and extension of EM by
deposit of title deeds both the documents are executed on 28.06.2009 to
create a single and exclusive charge of the bank against all the present and
future current assets of the borrower company. |
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Date of
instrument Creating the charge |
28.06.2009 |
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Amount secured by
the charge |
Rs. 8.000
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 13.25 % p.a. with
monthly rests, Penal interest rate on the eve of default as per Bank’s Norms.
Terms of
repayment DCC : On demand.
The tenor would be of 12 months Margin RM : 25 %
(Inclusive of all components) 40 % on Book debts ad receivables Extent and
operation of the charge United Bank of
India Industrial area branch (Chinchwad) Pimpri will have single and
exclusive charge against all the present and future current assets including
the assets that would come into existence through this credit facilities. The
Company has offered the collateral security by way of Deposit of Title Deeds
of the properties with are in the name of M/S Mathurbhai and Company and Mr.
Makwana respectively. Others The Company,
through its Directors, has agreed to adhere the terms and conditions which is
/ are the inherent part and parcel fo the Main loan agreement and has been
duly acknowledged by the Directors, by virtue f the Board resolution duly
passed by the company. |
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Short particulars
of the property or assets charged (Including complete address and location of
the property) |
Factory Land and
Building a Gat No. 769 Kudalwadi, Chikhli, Pune by Way of EM as security for
the Credit facilities EM of Shop No.
62, Ground Floor, Kunal Plaza, CTS No. 4536 at Chinchwad, Pune Stock of
Consumable at Plot No. 615, Sector 25, Pradhikaran, Nigdi, Pune – 411044, |
FORM 8
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Corporate identity
number of the company |
U27104PN2007PTC129844 |
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Name of the
company |
AVIANS INNOVATIONS TECHNOLOGY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No. 615, Sector 25, Pradhikaran, Nigdi, Pune – 411044, |
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This form is for |
Modification of
charge |
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Charge
Identification Number of the charge to be modified |
10171146 |
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Type of charge |
|
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Particular of
charge holder |
United Bank of |
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Nature of
instrument creating charge |
Hypothecation
Agreement (Goods, Book Debts, Plant and Machineries)(Form No.D15),Form No.D1,Form
No.4,Form No.16(Negative Lien) all the relevant documents executed to create
a single and exclusive charge against all the present and future current
assets inclusive of Book Debts and against the assets that would come into
existence through the credit facilities extended by the Bank to the Borrower
Company. |
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Date of
instrument Creating the charge |
26.04.2010 |
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Amount secured by
the charge |
Rs. 15.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
- At present:BPLR+1-0.50-.50=12%Per annum (Floating)Subject to change time to
time as per HO/RBI Guidelines. Penal Interest on default as per Banks/RBI's
Norms. Terms of repayment
- DCC : On demand. The tenor would be of 12 months. Subject to review. Margin - 25%
On Stock in all its elements.40% On Book Debts. Extent and
operation of the charge - United Bank of India Chinchwad Branch will have
first and exclusive charge against all the present and future current assets
of the Borrower Company. The Company has offered to extend as Collateral
Security, the EM of the factory land and Building at Gat No.769,Kudalwadi in
the name of M/s. A. Mathurbhai and Company, EM of flat No.602Bharma Sun
city-Vadgaon Sheri in the name of Mrs. B. Makwana with Personal Guarantee of
all Directors and Mrs. Makwana with letter of Guarantee from M/s.A.
Mathurbhai and Company . Others - The
Company, by virtue of the Board Resolution passed on 24/04/2010,has given
assent to all the Terms and Conditions, Covenants, as provided in the Bank's
Sanction Letter IAC/ADV/AITPL/545/2010Dt. 26/04/2010, have executed the
related loan document(s)/ Agreement(s) through the Director(s),who have
received and singed the documents in
physical form and who have been authorized to file eform-8 for modifications in the existing
limits and in nature of the charge, on agreed terms. |
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Short particulars
of the property or assets charged (Including complete address and location of
the property) |
All the entire
inventory, Stores and Book Debts and records of it maintained at the
Registered and at the Works of the Company Plot No.615, Sector 25 Pradhikaran
Nigdi Pune. Collateral
Security: Collateral
Security: EM of Flat No.602 in the name of Mrs.B. M. Makwana at 6th floor,
Building No.D-4 Bharma Sun City S.No.7 Vadgaon Sheri Pune |
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Particulars of the present modification |
By this
modification, the existing limit of Rs.8.000 millions (Rs.3.000 millions WC
and Rs.5.000 millions LC) has been enhanced to Rs.15.000 millions (Rs.10.000
millions WC inclusive of Rs.5.000 millions for local and foreign LCs and Plus Rs.5.000 millions as Letter of
Guarantee). |
FIXED ASSETS
- Computer
System
- Digital
Camera
- Furniture and
Fixture
- EPBAX System
- Machinery
- Mobile Phone
- WebSite
Design
- Office
Equipments
- Equipments
for M2M
- Electrical Fittings
- CRM Software
- Electrical
Fitting
- Air
Conditioner
- Inverter
- Generator
- Office
Equipment
- UPS
- Office
Premises
WEBSITE
DETAILS
COMPANY OVERVIEW
Avians is a premier provider of customized M2M (machine-to-machine)
communication solutions to a growing clientele in
Aviansis proud to be the only Indian enterprise to offer M2M
Communication, Vehicle Remote Tracking and Mobile Development solutions
conveniently under a single roof. They cater to a varied customer base across
industry verticals. Their strength in design and development is complemented by
their exceptional deployment skills and strong support capabilities.
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.44.12 |
|
|
1 |
Rs.72.05 |
|
Euro |
1 |
Rs.63.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--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 |
|
30 |
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.