1. Summary Information
|
|
|
Country |
|
|
Company Name |
INDIAN ARMOUR SYSTEMS PRIVATE LIMITED |
Principal Name 1 |
MR. ANIL KANT |
|
Status |
SATISFACTORY
|
Principal Name 2 |
MRS. PRERNA KANT |
|
|
|
Registration # |
05-36224 |
|
Street Address |
22, FEET ROAD, BEHIND J. D. SUN STEELS PRIVATE LIMITED, VILLAGE
DUDHOLA, P O BHAGOLA PALWAL – 121 102, |
||
|
Established Date |
25.06.2006 |
SIC Code |
-- |
|
Telephone# |
91-1275-262000 |
Business Style 1 |
IMPORTER |
|
Fax # |
91-1275-262148 |
Business Style 2 |
TRADER |
|
Homepage |
Product Name 1 |
SAFETY AND SECURITY INSTRUMENTS |
|
|
# of employees |
130 (Approximately) |
Product Name 2 |
- |
|
Paid up capital |
Rs.5,000,000/- |
Product Name 3 |
- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS- 100.00 |
Banking |
CANARA BANK |
|
Public Limited Corp. |
NO |
Business Period |
5 YEARS |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
BA (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
SUBSIDIARY |
|
INDIAN
ARMOUR VEHICLES PRIVATE LIMITED |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
66,347,000 |
Current Liabilities |
26,251,000 |
|
Inventories |
11,297,000 |
Long-term Liabilities |
11,618,000 |
|
Fixed Assets |
14,360,000 |
Other Liabilities |
9,230,000 |
|
Deferred Assets |
000 |
Total Liabilities |
47,099,000 |
|
Invest& other Assets |
17,724,000 |
Retained Earnings |
57,629,000 |
|
|
|
Net Worth |
62,629,000 |
|
Total Assets |
109,728,000 |
Total Liab. & Equity |
109,728,000 |
|
Total Assets (Previous Year) |
72,051,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
253,359,000 |
Net Profit |
40,803,000 |
|
Sales(Previous yr) |
155,876,000 |
Net Profit(Prev.yr) |
18,191,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN ARMOUR SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
22, Feet Road, Behind J. D. Sun Steels Private Limited, Village
Dudhola, P O Bhagola Palwal – 121 102, Haryana |
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Country : |
|
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|
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|
Financials (as on) : |
31.03.2010 |
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|
|
|
Date of Incorporation : |
25.06.2006 |
|
|
|
|
Com. Reg. No.: |
05-36224 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.5.000 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74996HR2006PTC036224 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Trader, Importer
and Exporter of Safety and Security Instruments. |
|
|
|
|
No. of Employees: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
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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 as
usually made 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 PARTED BY
|
Name : |
Mr. Anil Kant |
|
Designation : |
Directors |
LOCATIONS
|
Registered Office : |
22, Feet Road, Behind J. D. Sun Steels Private Limited, Village
Dudhola, P O Bhagola Palwal – 121 102, |
|
Tel. No.: |
91-1275-262000 |
|
Fax No.: |
91-1275-262148 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
70000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Anil Kant |
|
Designation : |
Director |
|
Address : |
734, Sector 29, Faridabad-121 003, |
|
Date of Birth/Age : |
20.09.1961 |
|
Date of Appointment : |
25.06.2006 |
|
DIN No.: |
00033184 |
|
Other Directorship: |
Universal Weavers Private Limited U17115HR2005PTC035831 USI Technologies Limited U99999DL1999PTC099538 |
|
Other Proprietorship: |
Universal Security Instruments Address: 14/5, Mathura Road, Faridabad-121003, |
|
|
|
|
Name : |
Mrs. Prerana Abrol |
|
Designation : |
Directors |
|
Address : |
804, Sector – 15, Faridabad-121003, |
|
Date of Birth/Age : |
25.06.1977 |
|
Date of Appointment : |
25.06.2006 |
|
DIN No.: |
00033242 |
|
Other Directorship: |
Universal Weavers Private Limited U17115HR2005PTC035831 USI Technologies Limited U99999DL1999PTC099538 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Anil Kant |
|
250000 |
|
Prerana Abrol |
|
250000 |
|
Total |
|
500000 |
Equity Share Breakup (Percentage of Total
Equity)
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
|
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Importer
and Exporter of Safety and Security Instruments. |
|
|
|
|
Products : |
Safety and
Security Instruments |
|
|
|
|
Exports : (as on 31.03.2009) |
|
|
Products : |
Safety and
Security Instruments |
|
Countries : |
UAE, |
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|
|
|
Imports : (as on 31.03.2009) |
|
|
Products : |
Safety and
Security Instruments |
|
Countries : |
|
|
|
|
|
Terms : (as on 31.03.2009) |
|
|
Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
v
Wholesalers v
End Users |
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No. of Employees : |
130 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. K. Gupta Charted Accountants |
|
Address : |
1F/34-35 B.P., NIT, Faridabad-121 001, |
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|
|
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Subsidiaries : |
Indian Armour Vehicles Private Limited CIN No.: U34100HR2009PTC039076 Address: 22, Feet Road,
Behind J. D. Sun Steels Private Limited, Village Dudhola, P O Bhagola Palwal
– 121 102, Line of Business: Trader, Importer and Exporter of Safety
and Security Instruments. |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Share |
Rs.10/- Each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Share |
Rs.10/- Each |
Rs.5.000 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 |
5.000 |
5.000 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
57.629 |
16.799 |
3.267 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
62.629 |
21.799 |
3.367 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.935 |
1.467 |
0.000 |
|
|
2] Unsecured Loans |
10.683 |
10.725 |
10.725 |
|
|
TOTAL BORROWING |
11.618 |
12.192 |
10.725 |
|
|
DEFERRED TAX LIABILITIES |
0.030 |
0.085 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
74.277 |
34.076 |
14.092 |
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|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
14.360 |
13.441 |
7.002 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
15.931 |
4.596 |
7.974 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.007 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.297
|
16.883
|
5.645 |
|
|
Sundry Debtors |
38.212
|
17.869
|
4.464 |
|
|
Cash & Bank Balances |
7.614
|
11.517
|
2.449 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
20.521
|
5.840
|
3.905 |
|
Total
Current Assets |
77.644
|
52.109
|
16.463 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.645
|
28.175
|
|
|
|
Other Current Liabilities |
7.606
|
7.200
|
17.051 |
|
|
Provisions |
9.200
|
2.600
|
0.761 |
|
Total
Current Liabilities |
35.451
|
37.975
|
17.812 |
|
|
Net Current Assets |
42.193
|
14.134
|
(1.349) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.793 |
1.905 |
0.458 |
|
|
|
|
|
|
|
|
TOTAL |
74.277 |
34.076 |
14.092 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
253.359 |
155.876 |
49.424 |
|
|
|
Other Income |
0.161 |
1.392 |
0.293 |
|
|
|
TOTAL (A) |
253.520 |
157.268 |
49.717 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
181.378 |
|
|
|
|
|
Personnel Expenses |
6.122 |
5.278 |
|
|
|
|
Administrative and other Expenses |
5.610 |
1.643 |
40.912 |
|
|
|
Selling and distribution expenses |
6.397 |
7.877 |
|
|
|
|
Preliminary Expenses w/ off |
0.114 |
0.114 |
|
|
|
|
TOTAL (B) |
199.621 |
134.349 |
40.912 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
53.899 |
22.919 |
4.785 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.512 |
0.366 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.387 |
22.553 |
4.785 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.437 |
1.670 |
0.765 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
49.950 |
20.883 |
4.020 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.147 |
2.692 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.803 |
18.191 |
4.020 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
81.61 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
16.09
|
11.57
|
8.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.72
|
13.40
|
8.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
54.29
|
31.86
|
17.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.80
|
0.96
|
1.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.75
|
2.30
|
8.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.19
|
1.37
|
0.92 |
LOCAL AGENCY FURTHER INFORMATION
WORKING AND PROSPECTS:
The Company’s
Financial Period is the Third Year. During the above period, The Company had manufactured
safety gadgets and earned good Profit. Directors are Confident to achieve even
better results in next Financial Year. The Company is having good orders in
hand and had made lot of reputation and goodwill in the overseas and Indian
market.
Fixed Assets:
v
Building
v
Plant and Machinery
v
Electric Fitting
v
Hero Honda Glamour Bike
v
Television
v
Dies and Tools
v
Generator
v
Fan
v
Rikshaw
v
Honda City Car
v
Air conditioner
v
Office Equipments
v
Cooler
v
Mobile Phone
v
EPABX
v
Honda Shine Bike
v
Refrigerator
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.44.85 |
|
|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.