MIRA
INFORM REPORT
|
Report Date : |
27.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ATUL ASSOCIATES |
|
|
|
|
Registered
Office : |
31/179/D/8, Raja Ram Ki Bagia, Shamshabad Road, Agra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 (Provisional) |
|
|
|
|
Year of
Establishment : |
2001 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.7.675 Millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
ANKPS5786N |
|
|
|
|
Legal Form : |
Sole Proprietory Concern. |
|
|
|
|
Line of Business
: |
Civil Contractor. |
|
|
|
|
No. of Employees
: |
5 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject seems to be an old and established concern in its field. Trade
relations are reported as fair. No valuation report has been provided by the subject.
The networth statement however seems to be acceptable. No complaints have
been heard from indirect or market sources. It would be advisable to take adequate securities while dealing with
the subject. |
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. Dharmendra Pratap Singh |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9837036418 |
|
Date : |
21.06.2011 |
LOCATIONS
|
Registered Office : |
31/179/D/8, Raja Ram Ki Bagia, Shamshabad Road, Agra, India |
|
Tel. No.: |
91-562-4040091 |
|
Mobile No.: |
91-9837036418 (Mr. Dharmendra Pratap Singh) |
|
E-Mail : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office
: |
18 Mumtaj Apartment, Above Canara Bank, Vibhav Nagar, Agra, India |
SOLE PROPRIETOR
|
Name : |
Mr. Dharmendra Pratap Singh |
|
Designation : |
Proprietor |
|
Address : |
31/179/D/8, Raja Ram Ki Bagia, Shamshabad Road, Agra, India |
|
Date of Birth/Age : |
01.05.1975 |
|
Qualification : |
Graduation |
|
Experience : |
15 years |
BUSINESS DETAILS
|
Line of Business : |
Civil Contractor. |
GENERAL INFORMATION
|
Suppliers : |
· Chaudhary Telecom · Gypsum Structural India Private Limited, Delhi · Metro Telecom · P. P. Enterprises · UP Typewriter and Computer Services · R. B. Trenchless · S. G. Drillcons, New Delhi · Sheila Buidtech private Limited · U. K. Trtaders, Sultanpur · U. P. Telelink Limited, Ghaziabad · Zedel Engineer |
|
|
|
|
Customers : |
· Bharti Airtel Limited · GTL Limited |
|
|
|
|
No. of Employees : |
5 (Approximately) |
|
|
|
|
Bankers : |
· Oriental Bank of Commerce Sanjay Place, Agra, India · HDFC Bank · ICICI Bank |
|
|
|
|
Facilities : |
Credit Limit = Rs.5.000 Millions |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dinesh K. Agarwal and Company Chartered Accountant |
|
Address : |
Manas Nagar, Agra, India |
|
|
|
|
Name : |
PSA and Company Chartered Accountant |
|
Address : |
Block S-20, F-6, Shoe Market Sanjay Place, Agra – 282002, India |
|
Tel No.: |
91-562-4031076 |
|
Mobile No.: |
91-9837021609 |
|
Email : |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT
(AS ON 31.03.2011
– PROVISIONAL)
|
Particulars |
(Rs. In
Millions) |
|
|
|
|
Capital A/c (Dharmendra
Pratap Singh) |
|
|
Opening Balance |
4.453 |
|
Add: Profit |
3.491 |
|
Add: Addition |
1.072 |
|
|
9.016 |
|
Less: Drawings |
1.341 |
|
|
|
|
Total |
7.675 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.675 |
4.453 |
3.833 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.675 |
4.453 |
3.833 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.456 |
4.830 |
0.904 |
|
|
2] Unsecured Loans |
2.677 |
0.609 |
0.100 |
|
|
TOTAL BORROWING |
5.133 |
5.439 |
1.004 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.808 |
9.892 |
4.837 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.614 |
3.743 |
4.248 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.408 |
0.000 |
0.085 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
0.000
|
9.794
|
8.822 |
|
|
Cash & Bank Balances |
16.469
|
19.397
|
8.014 |
|
|
Other Current Assets |
15.139
|
20.208
|
1.899 |
|
|
Loans & Advances |
0.370
|
0.370
|
2.220 |
|
Total
Current Assets |
31.978
|
49.769 |
20.955 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
23.426
|
|
|
|
Other Current Liabilities |
|
0.427
|
|
|
|
Provisions |
0.112
|
19.767
|
1.664 |
|
Total
Current Liabilities |
26.192
|
43.620 |
20.451 |
|
|
Net Current Assets |
5.786
|
6.149 |
0.504 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.808 |
9.892 |
4.837 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
67.681 |
44.570 |
47.563 |
|
|
|
Other Income |
0.057 |
0.013 |
0.071 |
|
|
|
TOTAL |
67.738 |
44.583 |
47.634 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
0.000 |
4.243 |
6.269 |
|
|
|
Audit Fees |
0.010 |
0.010 |
0.020 |
|
|
|
General Expenses |
0.039 |
0.034 |
0.000 |
|
|
|
Insurance Expenses |
0.417 |
0.301 |
0.173 |
|
|
|
Machinery Hire Charges |
0.245 |
0.928 |
1.042 |
|
|
|
Material Debit |
0.620 |
0.032 |
0.000 |
|
|
|
Consumables |
4.412 |
0.000 |
0.217 |
|
|
|
Repairs and Maintenance |
0.032 |
0.016 |
0.011 |
|
|
|
Salary, Labour Charges and Wages |
0.570 |
2.485 |
3.357 |
|
|
|
Sub- Contract |
55.126 |
29.691 |
0.000 |
|
|
|
Telephone Expenses |
0.120 |
0.129 |
0.179 |
|
|
|
Travelling Expenses |
0.231 |
0.280 |
0.276 |
|
|
|
Vehicles Running and Maintenance |
0.213 |
0.251 |
0.157 |
|
|
|
Work Contract Tax |
1.178 |
0.879 |
1.229 |
|
|
|
Other Expenses |
0.451 |
2.490 |
31.538 |
|
|
|
TOTAL |
63.664 |
41.769 |
44.468 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.074 |
2.814 |
3.166 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.583 |
0.524 |
0.652 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
3.491 |
2.290 |
2.514 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.15
|
5.14 |
5.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.16
|
5.14 |
5.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.54
|
4.28 |
9.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.51 |
0.66 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.08
|
11.02 |
5.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.14 |
1.02 |
LOCAL AGENCY FURTHER INFORMATION
PROJECTED
BALANCE SHEET
(RS. IN MILLIONS)
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
|
(PROJECTED) |
||||
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
9.708 |
13.037 |
17.553 |
22.516 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.708 |
13.037 |
17.553 |
22.516 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
9.057 |
8.090 |
6.709 |
5.779 |
|
|
2] Unsecured Loans |
2.676 |
2.476 |
0.007 |
0.007 |
|
|
TOTAL BORROWING |
11.733 |
10.566 |
6.716 |
5.786 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
21.441 |
23.603 |
24.269 |
28.302 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.248 |
6.180 |
5.275 |
4.504 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
2.408 |
2.408 |
2.408 |
2.408 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
10.012
|
9.826
|
9.212
|
9.812 |
|
|
Cash & Bank Balances |
4.942
|
7.442
|
9.499
|
10.948 |
|
|
Other Current Assets |
1.212
|
0.723
|
0.750
|
0.760 |
|
|
Loans & Advances |
1.500
|
1.600
|
2.100
|
2.500 |
|
Total
Current Assets |
17.666
|
19.591 |
21.561 |
24.020 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
5.823
|
4.520
|
4.850
|
2.500 |
|
|
Other Current Liabilities |
0.058
|
0.056
|
0.125
|
0.130 |
|
|
Provisions |
0.000
|
0.000
|
0.000
|
0.000 |
|
Total
Current Liabilities |
5.881
|
4.576 |
4.975 |
2.630 |
|
|
Net Current Assets |
11.785
|
15.015 |
16.586 |
21.390 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
21.441 |
23.603 |
24.269 |
28.302 |
|
PROJECTED
PROFIT & LOSS ACCOUNT
(RS. IN MILLIONS)
|
|
PARTICULARS |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
|
|
(PROJECTED) |
||||
|
|
SALES |
|
|
|
|
|
|
|
|
Income (Contract Receipts) |
70.025 |
72.312 |
75.000 |
76.000 |
|
|
|
Other Income |
0.105 |
0.120 |
0.125 |
0.129 |
|
|
|
TOTAL |
70.130 |
72.432 |
75.125 |
76.129 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Audit Fees |
0.015 |
0.018 |
0.020 |
0.020 |
|
|
|
Damage |
0.214 |
0.352 |
0.380 |
0.385 |
|
|
|
Insurance Expenses |
0.584 |
0.638 |
0.680 |
0.710 |
|
|
|
Machinery Hire Charges |
0.298 |
0.298 |
0.260 |
0.280 |
|
|
|
Material Debit |
0.815 |
1.326 |
1.225 |
1.265 |
|
|
|
Consumables |
8.914 |
9.856 |
11.225 |
11.532 |
|
|
|
Salary and Wages |
0.720 |
0.840 |
0.900 |
0.936 |
|
|
|
Sub-Contract |
50.525 |
49.748 |
49.925 |
50.223 |
|
|
|
Telephone Expenses |
0.140 |
0.148 |
0.160 |
0.180 |
|
|
|
Travelling Expenses |
0.280 |
0.296 |
0.285 |
0.296 |
|
|
|
Vehicles Running and Maintenance |
0.290 |
0.310 |
0.340 |
0.365 |
|
|
|
Work contract Tax |
1.450 |
1.446 |
1.510 |
1.520 |
|
|
|
Other Expenses |
0.795 |
0.960 |
0.994 |
0.884 |
|
|
|
TOTAL |
65.040 |
66.236 |
67.904 |
68.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.090 |
6.196 |
7.221 |
7.533 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.266 |
1.067 |
0.905 |
0.770 |
|
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
3.824 |
5.129 |
6.316 |
6.763 |
|
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
NAME OF THE
APPLICANT: MR. DHARMENDRA PRATAP
SINGH
NAME
OF THE GUARANTOR: MR. AMIT SAXENA
(RS. IN MILLIONS)
ASSETS
IMMOVABLE PROPERTY
|
Particulars |
Applicant |
Guarantor |
|
|
|
|
|
Address of the
Property with Survey No./ Door No. etc. |
115-B, Ground Floor, Parshwnath, Panchvati, Taj Naqgar, Phase – II,
Agra, India |
-- |
|
|
|
|
|
Description: Land/ Site/ Building |
Flat |
-- |
|
|
|
|
|
Whether Freehold / Leasehold |
Freehold |
-- |
|
|
|
|
|
Type of Property (Commercial/ Residential/ Agricultural) |
Residential |
-- |
|
|
|
|
|
Area/ Extent of Land |
114.18 sq. mtrs. |
-- |
|
|
|
|
|
Mortgaged for Availing Loan is any,
details thereof |
Mortgaged of Corporation Bank |
-- |
|
|
|
|
|
Present
Market Assessed Value |
Rs.2.407
Millions |
-- |
INVESTMENT IN
BUSINESS CAPITAL
|
Name of the Company / firm/ Concern in
which investment is made |
Atual Associates |
-- |
|
|
|
|
|
Date of Investment |
31.03.2011 |
31.03.2011 |
|
|
|
|
|
Present
Value of Investment |
Rs.4.150
Millions |
Rs.0.368 Million
|
DEPOSITS HELD WITH
BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the Bank/ company where deposits are
held |
Corporation Bank |
-- |
|
|
|
|
|
Date of Deposits |
27.03.2011 |
-- |
|
|
|
|
|
Nature of Deposits |
FDR |
-- |
|
|
|
|
|
Present Value of
Deposits |
Rs.2.519
Millions |
-- |
LIFE INSURANCE
POLICIES
|
Surrender Value |
Rs.0.268 Million
|
-- |
OTHER ASSETS
|
Furniture and Fixtures |
0.168 |
0.046 |
|
|
|
|
|
Cash in Hand |
0.068 |
0.078 |
|
|
|
|
|
Jewellery |
0.210 |
0.215 |
|
|
|
|
|
Plant and Machinery |
0.731 |
-- |
|
|
|
|
|
Total Value of other Assets |
Rs.1.177
Millions |
Rs.0.339 Million
|
|
TOTAL ASSETS |
RS.10.521
MILLIONS |
RS.0.707 MILLION
|
LIABILITIES
FURNISH LOANS
AVAILED FROM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS
|
Name of the Bank/ Institution |
Corporation Bank |
-- |
|
|
|
|
|
Nature / Type of Loan |
Housing Loans and Vehicles Loans |
-- |
|
|
|
|
|
Date of Loan |
January, 2011 |
-- |
|
|
|
|
|
Amount of Loan availed |
Rs.2.500 Millions |
-- |
|
|
|
|
|
Amount Outstanding |
Rs.2.456
Millions |
-- |
|
NET WORTH |
RS.8.065
MILLIONS |
RS.0.707 MILLION
|
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Air Conditioner
· Car
· Compressor
· Computer
· Fridge
· Furniture and Fixture
· Handycam
· Laptop
· LCD Television
· Mini Truck
· Mobile
· Office
· Printer
· Tools and Equipment
· UPS
· Water Dispenser
· Land Purchased
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.44.94 |
|
|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.64.09 |
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.