MIRA
INFORM REPORT
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Report Date : |
31.03.2011 |
IDENTIFICATION DETAILS
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Name : |
A.W. INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
No. 47/1, Mothinagar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.04.1999 |
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Com. Reg. No.: |
08-024999 |
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CIN No.: [Company Identification
No.] |
U27310KA1999PTC024999 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of ERW Steel Tubes and Sections. |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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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 : |
USD 110000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 DECLINED BY
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Name : |
Mr. Nizamduin |
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Designation : |
Accounts Department |
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Date: |
29.03.2011 |
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Name : |
Mr. Aziz |
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Designation : |
Accounts Department |
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Date: |
29.03.2011 |
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Name : |
Mr. Tanvir |
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Designation : |
Accounts Department |
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Date: |
29.03.2011 |
LOCATIONS
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Registered / Head Office : |
No. 47/1, Mothinagar, |
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Tel. No.: |
91-80-26703457/28732812 |
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E-Mail : |
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Factory : |
# 198 Bommasandra Industrial Area, 3rd Phase, Hosur Main Road,
Bangalore-560099, Karnataka, India |
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Branch Office: |
# 46-61, Bangalore Road, NH-7, Jee Bee Hosur-635126, |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Syed Masood Ahmed |
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Designation : |
Director |
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Address : |
No. 5/2, 8th Main, 1st Cross, 3rd
Block, Jayanagar East, Bangalore-560011, |
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Date of Birth/Age : |
11.06.1953 |
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Date of Appointment : |
01.04.1999 |
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Name : |
Mr. Atharunnisa Usman |
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Designation : |
Director |
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Address : |
No. 5/2, 8th Main, 1st Cross, 3rd
Block, Jayanagar East, Bangalore-560011, |
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Date of Birth/Age : |
26.05.1958 |
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Date of Appointment : |
01.10.2001 |
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Name : |
Mr. Syed Thaneer Hameed |
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Designation : |
Director |
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Address : |
No. 5/2, 8th Main, 1st Cross, 3rd
Block, Jayanagar East, Bangalore-560011, |
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Date of Birth/Age : |
14.06.1982 |
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Date of Appointment : |
01.01.2007 |
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Name : |
Mr. Syed Manzoor Hameed |
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Designation : |
Director |
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Address : |
No. 5/2, 8th Main, 1st Cross, 3rd
Block, Jayanagar East, Bangalore-560011, |
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Date of Birth/Age : |
05.07.1983 |
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Date of Appointment : |
01.01.2007 |
KEY EXECUTIVES
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Name : |
Mr. Nizamduin |
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Designation : |
Accounts Department |
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Name : |
Mr. Aziz |
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Designation : |
Accounts Department |
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Name : |
Mr. Tanvir |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Syed Masood Ahmed |
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103436 |
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Syed imtiyaz Ahmed |
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4833 |
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Faiz Ahmed |
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5798 |
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U Riyazuddin |
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6130 |
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Rehman Begam |
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7500 |
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Fairoz Ahmed |
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8891 |
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Atharunnisa Begam |
|
5090 |
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Khaleel Ahmed |
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1 |
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Syed Tanveer Hameed |
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4062 |
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Syed Manzoor Hameed |
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2845 |
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Parveez Pasha A.W. |
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1410 |
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Hassan Khan |
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1 |
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Abdul Azeez |
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1 |
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Shafiulla Khan |
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1 |
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Shahnaj |
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1 |
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Total |
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150000 |
As on 30.09.2010
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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 : |
Manufacturer of ERW Steel Tubes and Sections. |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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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 : |
Nagarajan and Company Chartered Accountant |
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Address : |
No. 10, Trust Complex, 3rd Floor, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
15.000 |
15.000 |
15.000 |
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2] Share Application Money |
0.900 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.162 |
10.054 |
8.519 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
28.062 |
25.054 |
23.519 |
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LOAN FUNDS |
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1] Secured Loans |
43.750 |
49.005 |
51.808 |
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2] Unsecured Loans |
36.176 |
40.447 |
10.699 |
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TOTAL BORROWING |
79.926 |
89.452 |
62.507 |
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DEFERRED TAX LIABILITIES |
0.451 |
0.469 |
0.468 |
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TOTAL |
108.439 |
114.975 |
86.494 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.391 |
8.588 |
8.255 |
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Capital work-in-progress |
15.713 |
12.977 |
10.890 |
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INVESTMENT |
9.908 |
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 |
60.299
|
56.490 |
57.094 |
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Sundry Debtors |
25.118
|
33.545 |
28.290 |
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Cash & Bank Balances |
1.504
|
1.736 |
3.993 |
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Other Current Assets |
0.000
|
0.000 |
0.968 |
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Loans & Advances |
11.540
|
17.293 |
10.712 |
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Total
Current Assets |
98.461
|
109.064 |
101.057 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
16.433
|
11.406 |
19.673 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
6.601
|
4.248 |
14.035 |
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Total
Current Liabilities |
23.034
|
15.654 |
33.708 |
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Net Current Assets |
75.427
|
93.410 |
67.349 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
108.439 |
114.975 |
86.494 |
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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 |
521.711 |
486.329 |
473.578 |
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Other Income |
0.871 |
0.178 |
57.297 |
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TOTAL (A) |
522.582 |
486.507 |
530.875 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
505.689 |
470.832 |
520.832 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.893 |
15.675 |
10.043 |
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Less |
FINANCIAL
EXPENSES (D) |
12.412 |
11.394 |
5.824 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.481 |
4.281 |
4.219 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1.396 |
1.593 |
1.597 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.085 |
2.688 |
2.622 |
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Less |
TAX (H) |
0.977 |
1.153 |
0.835 |
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PROFIT AFTER TAX
(G-H) (I) |
2.108 |
1.535 |
1.787 |
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Earnings Per
Share (Rs.) |
14 |
11 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.40
|
0.32 |
0.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.59
|
0.55 |
0.55 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.91
|
2.28 |
2.40 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.11 |
0.11 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.67
|
4.20 |
4.09 |
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Current Ratio (Current Asset/Current Liability) |
|
4.27
|
6.97 |
3.00 |
LOCAL AGENCY FURTHER INFORMATION
Partial Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors For Purchase |
|
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|
|
Lloyds Steel
Industries Limited |
0.00 |
0.341 |
0.526 |
|
Radiant Steels |
0.000 |
1.824 |
0.000 |
|
Triveni
Enterprises Manuf |
0.855 |
0.000 |
0.000 |
|
All Well Steels
Private Limited Manuf |
0.321 |
0.754 |
1.095 |
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Sundry Creditors For Expenses |
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Audit Fees
Payable |
0.099 |
0.040 |
0.040 |
|
ISPAT Transport
Company |
0.501 |
0.345 |
0.189 |
|
Electricity
Charges Payable Manuf |
0.141 |
0.145 |
0.000 |
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Balaji Cargo
Moves |
0.198 |
0.786 |
0.047 |
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Sundry Creditors For Capital Goods |
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Mekuba Petrolubes
Private Limited Manuf |
0.003 |
0.082 |
0.000 |
|
Omega CNC Manuf |
0.054 |
0.023 |
0.000 |
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Minerva Steels
Manuf |
0.027 |
0.008 |
0.000 |
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Sundry Creditors For Others |
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Provision for
taxation 2008-09 |
1.005 |
1.005 |
0.000 |
|
Vat payable |
0.027 |
0.191 |
0.548 |
Financial Highlights:
During the year the company has achieved a
turnover of Rs.521.711 millions (PY Rs.486.329 millions) and has earned a net
profit of Rs.3.085 millions (PY Rs.2.749 millions) they hope that the company will
achieve better result in future.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U27310KA1999PTC024999 |
|
Name of the
company |
A.W. INDUSTRIES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No. 47/1, Mothinagar, |
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Type of charge |
Immovable
Property Any Interest in
Immovable Property |
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Particular of
charge holder |
Yes Bank Limited,
9th Floor, Nehru Centre, Discovery of |
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Email |
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Nature of description
of the instrument creating or modifying the charge |
Equitable
Mortgage of the immovable property. |
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Date of
instrument Creating the charge |
07.02.2011 |
|
Amount secured by
the charge |
Rs.75.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest as specified by
the bank from time to time Terms of
Repayment On demand/at the
end of the tenor. Margin as specified by
the bank from time to time Extent and
Operation of the charge Equitable
mortgage of immovable property located at #198, Bommasandra Industrial Area,
Phase III, Attibele Hobli Bangalore - 560099 for INR 75.000 millions. |
|
Short particulars
of the property charged |
Equitable Mortgage
on Industrial property at # 198, Bommasandra Industrial area, Attibele Hobli,
Phase III Bangalore. |
Fixed Assets:
- Plant and Machinery
- Building
- Leased Flat
- Vehicles
- Generator
- Office Equipment
- Weighment Scale
- Furniture ad Fixtures
- 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.44.77 |
|
|
1 |
Rs.71.69 |
|
Euro |
1 |
Rs.63.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
30 |
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.