MIRA
INFORM REPORT
|
Report Date : |
21.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AREEN ENTRANCE AUTOMATION PRIVATE LIMITED |
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Registered
Office : |
E-47 Ground Floor, Near |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
20.04.2004 |
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Com. Reg. No.: |
55-125916 |
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Paid-up Capital
: |
Euro 1600 |
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CIN No.: [Company Identification
No.] |
U29199DL2004PTC125916 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA25786F DELA16206B |
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PAN No.: [Permanent Account No.] |
AAECA7454R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Installers of Entrance Automation
Products |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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 : |
Euro 3292 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small 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) |
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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 |
LOCATIONS
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Registered Office : |
E-47 Ground Floor, Near |
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Tel. No.: |
91-11-64640621 to 630 (10 Lines) |
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Fax No.: |
91-11-29943253 |
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E-Mail : |
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Website : |
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Factory : |
Plot-72, Near |
DIRECTORS
As On 29.09.2010
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Name : |
Mr. Mohammad Akmal |
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Designation : |
Director |
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Address : |
25-T Sector 7, Jasola Vihar, |
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Date of Birth/Age : |
20.02.1970 |
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Date of Appointment : |
20.04.2004 |
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DIN No.: |
01080253 |
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Name : |
Ms. Shahina Pervin |
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Designation : |
Director |
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Address : |
25-T Sector 7, Jasola Vihar, |
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Date of Birth/Age : |
26.07.1974 |
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Date of Appointment : |
20.04.2004 |
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DIN No.: |
01080315 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 29.09.2010
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Names of Shareholders |
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No. of Shares |
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Akmal Mohammad |
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5000 |
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Pervin Shahina |
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5000 |
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Total |
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10000 |
As On 29.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Installers of Entrance Automation
Products |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jagdish Kumar Manocha Chartered Accountant |
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Address : |
27/55, Street No. 8, Vishwas Nagar, Shahdara, |
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Tel. No.: |
91-11-22386036/22389025 |
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Mobile No.: |
91-9811025463 |
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Pan No.: |
AGDPM0903B |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
0.16 Euro each |
8000 |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
0.16 Euro each |
1600 |
FINANCIAL DATA
[all figures are
in Euro]
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 |
1600 |
1600 |
1600 |
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2] Share Application Money |
000 |
000 |
000 |
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3] Reserves & Surplus |
14864 |
6992 |
2081 |
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4] (Accumulated Losses) |
000 |
000 |
000 |
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NETWORTH |
16464 |
8592 |
3681 |
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LOAN FUNDS |
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1] Secured Loans |
6597 |
8373 |
000 |
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2] Unsecured Loans |
16549 |
4220 |
4859 |
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TOTAL BORROWING |
23146 |
12593 |
4859 |
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DEFERRED TAX LIABILITIES |
221 |
308 |
71 |
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TOTAL |
39831 |
21493 |
8611 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11401 |
12477 |
1144 |
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Capital work-in-progress |
000 |
000 |
000 |
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INVESTMENT |
000 |
000 |
000 |
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DEFERREX TAX ASSETS |
000 |
000 |
000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
56541
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32032 |
16056 |
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Sundry Debtors |
100313
|
29965 |
17482 |
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Cash & Bank Balances |
1183
|
3240 |
1723 |
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Other Current Assets |
000
|
000 |
000 |
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Loans & Advances |
1935
|
1259 |
1181 |
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Total
Current Assets |
159972
|
66496 |
36442 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
116499
|
47993 |
29032 |
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Provisions |
15142
|
9600 |
73 |
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Total
Current Liabilities |
131641
|
57593 |
29105 |
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Net Current Assets |
28331
|
8903 |
7337 |
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MISCELLANEOUS EXPENSES |
61 |
76 |
91 |
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OTHERS |
38 |
37 |
39 |
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TOTAL |
39831 |
21493 |
8611 |
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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 |
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Other Income |
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TOTAL |
224353 |
254941 |
97021 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
210702 |
245638 |
95422 |
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Advertising Expenses |
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TOTAL |
210702 |
245638 |
95422 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
13651 |
9303 |
1599 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1884 |
1562 |
329 |
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PROFIT BEFORE
TAX |
11767 |
7741 |
1270 |
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Less |
TAX |
3814 |
2762 |
NA |
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PROFIT AFTER TAX
|
7953 |
4979 |
NA |
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Earnings Per
Share (Euro) |
0.79 |
0.50 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.54
|
1.95 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.87
|
9.80 |
3.38 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.71
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0.90 |
0.35 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.40
|
8.17 |
9.23 |
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Current Ratio (Current Asset/Current Liability) |
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1.22
|
1.15 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
Note: The Registered Office
of the company has been shifted from D-47 Khasra No 242 Old Village Jasola
Vihar,
OPERATION:
Statement for general operation of the company.
Fixed Assets:
- Computer
- Car
- Trade Mark
- Machinery
- Furniture
AS PER WEBSITE DETAILS
PROFILE:
They
Subject is a young
company started in drawing room with a small capital.
The first project of the company was for a leading MNC of order value 1562 euro
in a short span, the company has grown manifolds and it is still growing with a
high rate. Now they have man power strength of more than 100 which includes
Managers, Engineers, Technicians, Skilled Persons supported by Accounts and
Administrative Staff. They are well equipped with proper Tools and Equipments.
They provide complete solutions from Design, Manufacturing, Supply to Erection,
Commissioning, Testing and Maintenance.
They are doing projects at all
They have dealings with big corporate both in the private and government
sectors at all India level which includes Manufacturing Plants, Shopping Malls,
Defense, Air force, Airports, Hangers, Railways, Oil and Gas Sectors, Power
Plants, Irrigation (Barrage Canal System), Ware Houses, Residential Villas,
Farm Houses, Hotels, Educational Institutes and Corporate Offices.
The office is in
AREEN is one of the largest companies in its field having completed more than
(1000 installations), and more than 150 small and big projects all over
For Automation (motorization) they mainly uses
Since its Inception five years ago, AREEN has got very strong presence in its
field and has very aggressive plans for future. The effort is to provide
quality products with best after sales service; this is the reason for there
high growth rate every year since its inception.
They believe that a company cannot run only by promoters, it is the support of
their dedicated employees which help the company to grow day by day.
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 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.72.60 |
|
Euro |
1 |
Rs.64.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.