1. Summary Information
|
|
|
Country |
|
|
Company Name |
A.T.E. ENTERPRISES PRIVATE LIMITED |
Principal Name 1 |
Mr. Gurudas Vishwas Aras |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Anuj Atul Bhagvati |
|
|
|
Registration # |
11-132921 |
|
Street Address |
43, Dr. V B Gandhi Marg, Fort, Mumbai – 400023, |
||
|
Established Date |
31.07.2001 |
SIC Code |
-- |
|
Telephone# |
91-22-22872245 |
Business Style 1 |
Distributor |
|
Fax # |
91-22-22041690 |
Business Style 2 |
Service Provider |
|
Homepage |
Product Name 1 |
textile engineering |
|
|
# of employees |
Not Available |
Product Name 2 |
print and packaging solutions |
|
Paid up capital |
Rs.7,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate – 100% |
Banking |
Kotak Mahindra
Bank Limited CITI Bank |
|
Public Limited Corp. |
NO |
Business Period |
10 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba [48] |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
A.T.E. Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
254,589,000 |
Current Liabilities |
65,325,000 |
|
Inventories |
30,184,000 |
Long-term Liabilities |
9,767,000 |
|
Fixed Assets |
78,699,000 |
Other Liabilities |
35,654,000 |
|
Deferred Assets |
8,059,000 |
Total Liabilities |
110,746,000 |
|
Invest& other Assets |
53,107,000 |
Retained Earnings |
306,392,000 |
|
|
|
Net Worth |
313,892,000 |
|
Total Assets |
424,638,000 |
Total Liab. & Equity |
424,638,000 |
|
Total Assets (Previous Year) |
361,149,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
39,746,000 |
|
Sales(Previous yr) |
NA |
Net Profit(Prev.yr) |
[35,832,000] |
MIRA
INFORM REPORT
|
Report Date : |
15.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
A.T.E. ENTERPRISES PRIVATE LIMITED [w.e.f. 29.10.2007] |
|
|
|
|
Formerly Known
As : |
A.T.E. MARKETING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
43, Dr. V B Gandhi Marg, Fort, Mumbai – 400023, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
31.07.2001 |
|
|
|
|
Com. Reg. No.: |
11-132921 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51503MH2001PTC132921 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject handles industrial sales, distribution and service in the
domains of textile engineering, clean technology, flow technology and print and
packaging solutions |
|
|
|
|
No. of Employees
: |
Not Available |
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 1250000 |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered / Corporate Office : |
43, Dr. V B Gandhi Marg, Fort, Mumbai – 400023, |
|
Tel. No.: |
91-22-22872245 |
|
Fax No.: |
91-22-22041690 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Bhagvati House, A – 19, CTS 689, Veera Desai Road, Andheri [west], Mumbai
– 400053, India |
|
Tel. No.: |
91-22-66766215 / 610 / 66766100 |
|
Fax No.: |
91-22-26732446 / 26732463 |
|
|
|
|
Other Branches : |
Located at :
|
DIRECTORS
As on 24.09.2010
|
Name : |
Mr. Anuj Atul Bhagvati |
|
Designation : |
Managing Director |
|
Address : |
NIshat, 6, M.L. Dahanukar Marg, Mumbai – 400026, |
|
Date of Birth/Age : |
06.10.1968 |
|
Date of Appointment : |
31.07.2001 |
|
DIN : |
00094776 |
|
|
|
|
Name : |
Mr. Samakulam Ramakrishnan Ganesh |
|
Designation : |
Director |
|
Address : |
13/204, Garden Estate, |
|
Date of Birth/Age : |
15.06.1946 |
|
Date of Appointment : |
05.04.2007 |
|
DIN : |
00084383 |
|
|
|
|
Name : |
Mr. Shailesh Rajnikant Sheth |
|
Designation : |
Director |
|
Address : |
C1712 Maple Leaf, Raheja Vihar, Chandivli Farm Road [Powai], Andheri [East],
Mumbai – 400072, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1946 |
|
Date of Appointment : |
05.04.2007 |
|
DIN : |
00041713 |
|
|
|
|
Name : |
Mr. Gurudas Vishwas Aras |
|
Designation : |
Director |
|
Address : |
5/1a, Chandrashekhar Society, Swami Nityanand Marg. Andheri [East],
Mumbai – 400069, |
|
Date of Birth/Age : |
20.09.1957 |
|
Date of Appointment : |
01.05.2008 |
|
DIN : |
02187903 |
|
|
|
|
Name : |
Mr. Rajendra Dhundiraj Halbe |
|
Designation : |
Director |
|
Address : |
302, Swarajyashree Housing Society, 38 Sane Wadi, Aundh, Pune –
411007, |
|
Date of Birth/Age : |
11.04.1954 |
|
Date of Appointment : |
01.05.2008 |
|
DIN : |
00342113 |
KEY EXECUTIVES
|
Name : |
P.K. Pandya and Company |
|
Designation : |
Company Secretary |
|
Address : |
16, 1st Floor, Star Trade Centre, Sodawala Lane, Borivali
[west], Mumbai – 400092, |
|
Tel. No.: |
91-22-28903329 |
|
Fax No.: |
91-22-28929702 |
|
E-Mail : |
|
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Anuj Atul Bhagvati |
|
1 |
|
A.T.E. Private Limited, |
|
749998 |
|
Atul Bhagvati |
|
1 |
|
Total |
|
750000 |
As on 24.09.2010
|
Category |
Percentage |
|
|
|
|
Bodies corporate |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject handles industrial sales, distribution and service in the
domains of textile engineering, clean technology, flow technology and print
and packaging solutions |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
L/C / Cash / Credit [30 / 60 / 90 Days] |
||||||
|
|
|
||||||
|
Purchasing : |
L/C / Cash / Credit [30 / 60 / 90 Days] |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N.A. Shah Associates Chartered Accountant |
|
Address : |
65 – C, Mital Tower, Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-40733000 |
|
Fax No.: |
91-22-40733090 |
|
E-Mail : |
|
|
|
|
|
Holding Company : Subsidiary Company : Fellow Subsidiaries : |
A.T.E. Private Limited, CIN : U74140MH1971PTC015101 A.T.E. Technologies [ Eco Axis Systems Private Limited A.T.E. Envirotech Private Limited HMX Systems Private Limited [Formerly - Sumaya HMX Systems Private
Limited] Valence Elcetrons Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750,000 |
Equity Shares |
Rs.10/-each |
Rs.7.500 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750,000 |
Equity Shares |
Rs.10/-each |
Rs.7.500 millions |
|
|
|
|
|
|
|
|
|
|
All the above
shares are held by holding company A.T.E. Private Limited and its nominees
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.500 |
7.500 |
7.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
306.392 |
266.646 |
302.478 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
313.892 |
274.146 |
309.978 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.767 |
9.587 |
0.228 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
9.767 |
9.587 |
0.228 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
323.659 |
283.733 |
310.206 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
78.699 |
87.807 |
84.749 |
|
|
Capital work-in-progress |
0.073 |
0.443 |
1.097 |
|
|
|
|
|
|
|
|
INVESTMENT |
53.034 |
55.814 |
76.897 |
|
|
DEFERREX TAX ASSETS |
8.059 |
11.133 |
5.494 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
30.184
|
37.727 |
32.794 |
|
|
Sundry Debtors |
183.365
|
104.323 |
143.046 |
|
|
Cash & Bank Balances |
11.617
|
17.176 |
18.101 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
59.607
|
46.726 |
32.741 |
|
Total
Current Assets |
284.773
|
205.952 |
226.682 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.485
|
21.244 |
29.832 |
|
|
Other Current Liabilities |
18.840
|
25.571 |
27.928 |
|
|
Provisions |
35.654
|
30.601 |
26.953 |
|
Total
Current Liabilities |
100.979
|
77.416 |
84.713 |
|
|
Net Current Assets |
183.794
|
128.536 |
141.969 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
323.659 |
283.733 |
310.206 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
GROSS
INCOME
|
480.852 |
418.016 |
530.474 |
|
|
|
|
|
|
|
|
|
|
EXPENSES
|
431.706 |
454.919 |
435.076 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
49.489 |
[37.198] |
97.398 |
|
|
|
|
|
|
|
|
|
|
TAX |
9.743 |
[1.366] |
35.585 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
39.746 |
[35.832] |
61.813 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
266.646 |
301.828 |
240.015 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
0.000 |
0.650 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
306.392 |
266.646 |
301.828 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
120.330 |
87.961 |
131.113 |
|
|
|
FOB Value of Export - Traded Goods |
1.417 |
7.962 |
1.454 |
|
|
|
Service Charges |
13.372 |
1.398 |
4.925 |
|
|
TOTAL EARNINGS |
135.119 |
97.321 |
137.492 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
36.847 |
47.476 |
42.292 |
|
|
TOTAL IMPORTS |
36.847 |
47.476 |
42.292 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
52.99 |
[47.78] |
-- |
|
KEY RATIO
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.62
|
(12.66) |
31.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
(0.14) |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.35
|
0.32 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.82
|
2.66 |
2.68 |
LOCAL AGENCY FURTHER INFORMATION
Review of Operations
The income from sales services has registered an increase of 15%. The
gross revenue for the year 2009-10 have registered an increase of Rs. 62.83
million, during the year.
Future Outlook
The business prospects look quite good for the year 2010-11, partly
because of the low figures that the company has got used to in the downturn.
The Company is focusing on exploiting the potential synergy available within
the Company.
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U51503MH2001PTC132921 |
|
Name of the
company |
A.T.E.
Enterprises Private Limited. |
|
Address of the
registered office or of the principal place of business in |
43 Dr V B Gandhi
Marg, Fort, Mumbai – 400023, |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10180047 |
|
Type of charge |
|
|
Particular of
charge holder |
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227 D, Nariman
Point, Mumbai – 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplementary
Deed of Hypothecation. |
|
Date of instrument
Creating the charge |
25.10.2010 |
|
Amount secured by
the charge |
Rs.115.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- CC - Floating over the tenure of the facility. The Rate of Interest has
been arrived at on the basis of the Bank's Base Rate. TC - As per
Bank's guidelines time to time. Terms of
Repayment - BG - Maximum 36 months including claim period. TC - Letter of Credit
usance period + buyer's credit period: Maximum 180 days. FFL - 12 months. Margin - As may
be specified by the Bank from time to time. Extent and
Operation of the charge - First and exclusive charge by way of Hypothecation
of Current assets and Movable fixed assets present and future of the
Borrower, in favour of Kotak Mahindra bank as security for repayment of
financial facilities granted by the Bank to the Borrower. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The whole of
Borrower's Current assets and Movable fixed assets both present and future as
described in Schedule to the Supplementary Deed of Hypothecation. |
|
Particulars of
the present modification |
The Bank had granted
facilities of Rs.50.000 millions to the Borrower which was secured by way of
Hypothecation on Current assets and Movable Fixed Assets of the company on
12/08/2009. Now the bank has granted additional facility of Rs.65.000
millions to the company and the said charge is modified and extended to the
increased total facilities of Rs.115.000 millions. |
FIXED ASSETS :
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer
·
Office Equipments
·
Vehicles
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.44.77 |
|
|
1 |
Rs.73.45 |
|
Euro |
1 |
Rs.64.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--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.