MIRA
INFORM REPORT
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Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
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Name : |
LAKSHMI AIRCONS PRIVATE LIMITED |
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Registered
Office : |
No. 10, Second Main Road, Trustpuram, Kodamnakkam, Chennai – 600024,
Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.09.2009 |
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Com. Reg. No.: |
11-072784 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U52330TN2009PTC072784 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Dealer and Distributor of Carrier Air Conditioner. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 40000 |
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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 successor of Laxmi Aircons, a partnership concern started
in the year 2004. 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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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. Ganapathy M. |
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Designation : |
Finance Manager |
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Contact No.: |
91-9962492333 |
LOCATIONS
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Registered Office : |
No. 10, Second Main Road, Trustpuram, Kodamnakkam, Chennai – 600024,
Tamilnadu, India |
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Tel. No.: |
91-44-43565271 |
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Fax No.: |
91-44-24818229 |
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E-Mail : |
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Website : |
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Branch Office : |
No. 450/37, Shanthi Nagar, Perumbakkam,
Chennai – 600100, Tamilnadu, India |
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Tel No.: |
91-44-33900700/ 33900705 |
DIRECTORS
(AS ON 30.09.2011)
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Name : |
Mr. Sridhar Srinivasan |
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Designation : |
Managing Director |
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Address : |
Old No. 17, New No. 8, 4th Avenue, Indira Nagar, Adyar,
Chennai- 600020, Tamilnadu, India |
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Date of Birth/Age : |
13.06.1973 |
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Qualification : |
BE |
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Date of Appointment : |
03.09.2009 |
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DIN No.: |
02637109 |
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Name : |
Mrs. Lakshmi Subramanyam Azhagu |
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Designation : |
Director |
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Address : |
Old No. 17, New No. 8, 4th Avenue, Indira Nagar, Adyar,
Chennai- 600020, Tamilnadu, India |
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Date of Birth/Age : |
07.03.1977 |
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Qualification : |
BE |
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Date of Appointment : |
03.09.2009 |
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DIN No.: |
02637369 |
KEY EXECUTIVES
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Name : |
Mr. Ganapathy M. |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
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Names of Shareholders |
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No. of Shares |
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Sridhar Srinivasan |
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5000 |
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Lakshmi Subramanyam Azhagu |
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5000 |
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Total |
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10000 |
(AS ON 30.09.2011)
Equity Shares Break-Up
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer and Distributor of Carrier Air Conditioner. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· Indian Bank No.4/12, 3rd Cross Street, Trustpuram, Kodamabakkam, Chennai – 600024, Tamilnadu, India · Indian Overseas Bank · HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. Krishna Kumar and Associates Chartered Accountants |
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Address : |
No. 33, (Old No.17) School View Road, R.K. Nagar, Chennai – 600028,
Tamilnadu, India |
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Tel. No.: |
91-44-24614932 |
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E-Mail : |
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Related Parties : |
· Lakshmi Consultancy Address: No. 10, 2nd Main Road, Trustpuram, Kodamnakkam,
Chennai- 600024, Tamilnadu, India. Activity: Air Conditioning Maintenance and Service Provider · Lakshmi Aircons |
CAPITAL STRUCTURE
(AS ON 28.09.2011)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Share |
Rs.10/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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9.944 |
0.006 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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10.044 |
0.106 |
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LOAN FUNDS |
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1] Secured Loans |
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7.751 |
0.000 |
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2] Unsecured Loans |
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0.287 |
0.005 |
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TOTAL BORROWING |
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8.038 |
0.005 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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18.082 |
0.111 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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22.451 |
0.213 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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17.868 |
1.590 |
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Sundry Debtors |
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21.390 |
0.000 |
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Cash & Bank Balances |
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11.332 |
4.138 |
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Other Current Assets |
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6.537 |
0.345 |
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Loans & Advances |
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6.863 |
1.247 |
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Total
Current Assets |
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63.990 |
7.320 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
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24.581 |
3.599 |
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Other Current Liabilities |
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39.685 |
3.823 |
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Provisions |
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4.093 |
0.000 |
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Total
Current Liabilities |
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68.359 |
7.422 |
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Net Current Assets |
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(4.369) |
(0.102) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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18.082 |
0.111 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2011 |
31.03.2010 |
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SALES |
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Income |
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134.640 |
6.717 |
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Other Income |
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3.185 |
0.105 |
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TOTAL |
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137.825 |
6.822 |
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Less |
EXPENSES |
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TOTAL |
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124.883 |
6.809 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
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12.942 |
0.013 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.530 |
0.006 |
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PROFIT BEFORE
TAX |
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12.412 |
0.007 |
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Less |
TAX |
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2.474 |
0.001 |
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PROFIT AFTER TAX
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9.938 |
0.006 |
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Earnings Per
Share (Rs.) |
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993.80 |
0.60 |
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KEY RATIOS
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PARTICULARS |
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31.03.2011 |
31.03.2010 |
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PAT / Total Income |
(%) |
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7.21 |
0.09 |
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Net Profit Margin (PBT/Sales) |
(%) |
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9.22 |
0.10 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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14.36 |
0.09 |
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Return on Investment (ROI) (PBT/Networth) |
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1.24 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.61 |
70.07 |
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Current Ratio (Current Asset/Current Liability) |
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0.94 |
0.99 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS OUTLOOK:
The Company, in its Second year of operations has made further inroads into the domestic market segment with a view to broad base its geographical customer base. The response to the Company’s products is extremely encouraging. The Company hopes to capitalise on the initial Marketing costs and show profits in the subsequent years. Moreover, the Company has acquired the business of a Partnership Firm namely Lakshmi Aircons during the year. This acquisition is expected to further augment the business of the Company in the ensuing years.
FORM 8:
|
Corporate identity
number of the company |
U52330TN2009PTC072784 |
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Name of the
company |
Lakshmi Aircons Private Limited |
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Address of the
registered office or of the principal place of business in |
No.10, Second Main
Road, Trustpuram, Kodambakkam, Chennai – 600024, Tamilnadu, India |
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This form is for |
Creation of charge |
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Type of charge |
Book Debts Movable property (not being pledge) |
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Particular of
charge holder |
Indian Bank No.4/12, 3rd Cross Street, Trustpuram, Kodamabakkam, Chennai – 600024,
Tamilnadu, India |
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Nature of
instrument creating charge |
Agreement for
Hypothecation of Moveable Dated 31.3.2011 for Open Cash Credit (OCC) Medium
Term Loan Agreement Dated 31.03.2011 |
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Date of
instrument Creating the charge |
31.03.2011 |
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Amount secured by
the charge |
Rs.26.400
Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Terms of
Repayment: On Demand for
Open Cash Credit (OCC) Term loan is
repayable in 50 monthly Installments of Rs.0.150 Million each with a holiday
period of 3 months. Margin: 50% of Margin in
respect of Medium Term Loan. 25% of Margin for
OCC |
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Particulars of
the property charged |
Hypothecation of
Goods, Produce, Merchandice , Stocks ,
Book Debts, Receivables, Plant and Machineries of the Company |
FIXED ASSETS:
· Computers
· Furniture, Fittings and Equipments
· Plant and Machinery
· Commercial Vehicles
· Non Commercial 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: