MIRA
INFORM REPORT
|
Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AJIT INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
M-7, Aradhana Bhawan Azadpur Commercial Complex, Azadpur, New
Delhi-110 033 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
19.02.1998 |
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Com. Reg. No.: |
55-092320 |
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Capital Investment
/ Paid-up Capital : |
Rs.10.000 Millions |
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CIN No.: [Company
Identification No.] |
U33112DL1998PTC092320 |
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IEC No.: |
0598001280 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA08875G |
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PAN No.: [Permanent
Account No.] |
AACCA4913D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Exporter of Self Adhesive Tapes, Die Cuts and
Stickers. |
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No. of Employees : |
100 (In Office 20) (In Factory 70) (In Branch 10) (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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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 290000 |
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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 a well 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) |
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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
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Name : |
Mr. Akash Jain |
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Designation : |
General Manager |
LOCATIONS
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Registered Office : |
M-7, Aradhana Bhawan Azadpur Commercial Complex, Azadpur, |
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Tel. No.: |
91-11-47506000/1/247506054 |
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Fax No.: |
91-11-47506054/2767244 |
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E-Mail : |
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Website : |
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Area : |
1054 sq. ft. |
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Location : |
Owned |
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Factory : |
114-115, Village Nizampur, Tehsil Kharkhoda, District Sonepat, |
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Area : |
50904 sq. ft. |
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Location : |
Owned |
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Branch Office : |
Tel No.: 91-22-28528477/2852977 Email : aipl.mumbai@ajitindustries.com
Tel No.: 91-44-28341839 Email : aipl.chennai@ajitindustries.com |
DIRECTORS
As on 27.09.2010
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Name : |
Mr. Ajit Kumar Gupta |
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Designation : |
Managing Director |
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Address : |
A-20, Panchwati Azadpur, |
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Date of Birth/Age : |
05.05.1984 |
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Qualification : |
B. Com., BA, CCB |
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Experience : |
22 Years |
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Date of Appointment : |
30.03.1999 |
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Email : |
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Name : |
Mr. Ashok Kumar Gupta |
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Designation : |
Director |
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Address : |
A-20, Panchwati Azadpur, |
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Date of Birth/Age : |
07.07.1961 |
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Qualification : |
M Com. |
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Experience : |
20 Years |
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Date of Appointment : |
20.07.2003 |
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Email : |
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Name : |
Mr. Nand Kishore Chauhan |
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Designation : |
Directors |
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Address : |
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Date of Birth/Age : |
13.03.1969 |
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Date of Appointment : |
18.05.2009 |
KEY EXECUTIVES
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Name : |
Mr. Akash Jain |
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Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Arun Kumar Gupta |
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50600 |
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Sahil Gupta |
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120000 |
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Ajit Kumar Gupta |
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433850 |
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Anjali Gupta |
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51100 |
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Deepak Gupta |
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333450 |
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Ashok Kumar Gupta |
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10000 |
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Asha Gupta |
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1000 |
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Total |
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1000000 |
As on 27.09.2010
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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 |
|
100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporter of Self Adhesive Tapes, Die Cuts and
Stickers. |
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Products : |
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Exports : |
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Products : |
Self Adhesive Tapes |
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Countries : |
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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 |
PRODUCTION STATUS (AS ON 31.03.2010)
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Actual Production (Rolls/ Kgs./ Pcs./ Sq. Mtrs/ Ctns) |
86475374 |
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GENERAL INFORMATION
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Customers : |
Wholesaler, OEM’s |
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No. of Employees : |
100 (In Office 20) (In Factory 70) (In Branch 10) (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Virender Kumar Jain and Company Chartered Accountants |
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Address : |
3618/11, Sudeshan Market, Chawti Bagh, |
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Tel. No.: |
91-11-23970376 |
CAPITAL STRUCTURE
As on 27.09.2010
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 :
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No. of Shares |
Type |
Value |
Amount |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
64.609 |
50.408 |
40.752 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
74.609 |
60.408 |
50.752 |
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LOAN FUNDS |
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1] Secured Loans |
57.152 |
52.056 |
53.135 |
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2] Unsecured Loans |
18.772 |
14.426 |
2.231 |
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TOTAL BORROWING |
75.924 |
66.482 |
55.366 |
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DEFERRED TAX LIABILITIES |
4.087 |
3.911 |
3.635 |
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TOTAL |
154.620 |
130.801 |
109.753 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
32.283 |
24.992 |
24.036 |
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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 |
34.638
|
49.123
|
28.342
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Sundry Debtors |
114.131
|
82.023
|
58.856
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Cash & Bank Balances |
3.754
|
3.985
|
1.981
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Other Current Assets |
0.000
|
0.000
|
0.000
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Loans & Advances |
78.866
|
42.345
|
43.549
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Total
Current Assets |
231.389
|
177.476
|
132.728
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
79.143
|
60.483 |
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Other Current Liabilities |
18.349
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4.396
|
37.483
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Provisions |
11.560
|
6.788
|
9.528
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Total
Current Liabilities |
109.052
|
71.667
|
47.011
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Net Current Assets |
122.337
|
105.809
|
85.717
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
154.620 |
130.801 |
109.753 |
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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 |
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Income |
|
302.176 |
342.645 |
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Other Income |
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TOTAL |
796.817 |
302.176 |
342.645 |
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Less |
EXPENSES |
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Office Expenses |
|
288.343 |
331.518 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
774.623 |
288.343 |
331.518 |
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PROFIT BEFORE
TAX |
22.194 |
13.833 |
11.127 |
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Less |
TAX |
7.993 |
4.177 |
3.057 |
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PROFIT AFTER TAX
|
14.201 |
9.656 |
8.070 |
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IMPORTS |
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Raw Materials |
122.313 |
87.590 |
89.560 |
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Trading Goods |
374.918 |
74.705 |
132.712 |
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Capital Goods |
0.000 |
0.676 |
0.000 |
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TOTAL IMPORTS |
497.231 |
162.971 |
222.272 |
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Earnings Per
Share (Rs.) |
14.20 |
9.66 |
8.07 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.78
|
3.20 |
2.36 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.42
|
6.83 |
7.10 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.23 |
0.22 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.48
|
2.29 |
2.02 |
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Current Ratio (Current Asset/Current Liability) |
|
2.12
|
2.48 |
2.82 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION:
During the year there has been increase in turnover of both divisions
i.e. Tape Manufacturing Division and Trading Division. The turnover of tape
manufacturing division has risen from Rs.205.800 millions to Rs.291.400
millions and the turnover of trading business amounted to Rs.484.600 millions.
There has been substantial increase in net profit before provision of tax for
the year under report amounted to Rs.22.194 millions as against Rs. 13.833
millions. After making provisions for current tax liability of Rs.7.720
millions and deferred tax liability of Rs.0.177 millions the net profit
amounted to Rs.14.201 millions as against Rs. 9.656 millions in the preceding
year. After adjusting the tax payments of Rs.0.097 millions in excess of provisions made and adding
thereto the brought forward profit of Rs.0.008 millions there is a net surplus of Rs.14.209
millions out of which a sum of Rs.14.200
millions have been transferred to
General Reserve and the balance profit of Rs.0.009 millions is recommended to be carried forward.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90058907 |
|
Corporate
identity number of the company |
U33112DL1998PTC092320 |
|
Name of the
company |
AJIT INDUSTRIES
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
M-7, Aradhana Bhawan Azadpur Commercial Complex, Azadpur, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
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Particular of
charge holder |
State Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
letter of credit and/or bank guarantee limit Agreement of
Hypothecation of movable assets
forming part of fixed /block assets |
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Date of
instrument Creating the charge |
26.02.2010 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest/Commission
As Per Bank Rule Terms of
Repayment 12 Months
Including Claim Period Margin 25% Extent and
Operation of the charge The Charge
Operates As Security As Exclusive First Charge Others This is to secure
bank guarantee limit of Rs. 5.000 millions
(as a sub limit of LC limit) |
|
Short particulars
of the property charged |
I)
Hypothecation of whole of the stocks of BOPP films, Adhesive
tape and raw material raw or in process of manufacture and all articles
manufactured there from which now or hereafter from time to time during II)
this
security shall be brought into stored or be in or about borrower's godowns or
premises at Nizampur Khurd, Kharkhoda, Sonipat (HR) and All Book Debts, outstandings, Monies,
Receivables, Claims Bills III)
Contracts,
Engagements, Securities, Investments, Rights and Assets IV)
All
assets and movable property forming part of fixed block assets including all
assets and movable property of any
kind |
|
Date of latest
modification prior to the present modification |
26.09.2007 |
|
Particulars of
the present modification |
The Bank
Guarantee Limit Stands Enhanced From Rs. 2.000 Millions to Rs. 5.000 Millions Which Is Sub Limit of LC Limit |
TRADE REFERENCES:
- Ashok Minda Group
- Sumi Mother Son Group
FIXED ASSETS:
v
Building
v
Plant and Machinery
v
Electric Installation
v
TV Generator
v
Weighing Scale
v
Other Equipments
v
Motor Cycle
v
Car
v
Transformer
v
Tempo
v
AC
v
Compressor
v
Fax
v
Three Wheeler
v
Furniture
v
Computer
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. 44.99 |
|
|
1 |
Rs. 72.59 |
|
Euro |
1 |
Rs. 64.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
YES |
|
--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.