MIRA
INFORM REPORT
|
Report Date : |
14.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS CRANE PRIVATE LIMITED |
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Registered
Office : |
O-8, Southern Shelters, Kattupakkam, Mount Poonamalee, Chennai –
600056, Tamilnadu |
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Country : |
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|
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.01.2007 |
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Com. Reg. No.: |
18-61955 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U29244TN2007PTC061955 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Cranes like EOT Cranes, Hot Cranes. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. There appears huge
accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured trade
tersm 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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Ganesh Babu |
|
Designation : |
Marketing Department |
|
Contact No.: |
91-9380211884 |
|
Date : |
31.10.2011 |
LOCATIONS
|
Registered Office : |
O-8, Southern Shelters, Kattupakkam, Mount Poonamalee, Chennai –
600056, |
|
Tel. No.: |
91-44-32919997 / 32919998 |
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Mobile No.: |
91-9380211884 (Mr. Ganesh Babu) |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
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Correspondence
Address : |
No.3, |
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Tel. No.: |
91-44-32919997 / 32919998 |
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Mobile No : |
91-9380211884 / 9790182084 (Mr. M. Ganesh Babu) |
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E-Mail : |
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Website : |
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Area : |
10000 sq.fts |
|
Location : |
Rented |
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Factory : |
40, |
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Tel. No.: |
91-44-32919997 / 32919998 / 32519997 / 26810653 |
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Fax No : |
91-44-26810653 |
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E-Mail : |
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Website : |
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Area : |
10000 sq.fts |
|
Location : |
Rented |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Senthilmuthu Mahalingam |
|
Designation : |
Director |
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Address : |
41/1, T.H.Road, Sudalaimuthu Street, New Washermanpet, Chennai-600081,
Tamilnadu, India |
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Date of Appointment : |
04.01.2007 |
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DIN No : |
02371988 |
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Name : |
Mrs. Hemamalini Ganeshbabu |
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Designation : |
Director |
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Address : |
37, Serian Nagar, Thiruvetriyur, Chennai-600001, Tamilnadu, India |
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Date of Appointment : |
04.01.2007 |
|
DIN No : |
03341083 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh Babu |
|
Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
Senthilmuthu Mahalingam |
|
500 |
|
Hemamalini Ganeshbabu |
|
500 |
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|
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Total |
|
1000 |
Equity Share Breakup
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cranes like EOT Cranes, Hot Cranes. |
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Products : |
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Exports : |
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Products : |
·
Cranes ·
Material Handling Equipments |
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Countries : |
·
Mexico ·
South America ·
Sri Lanka ·
Sudan |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s |
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No. of Employees : |
Not Available |
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Bankers : |
·
Bank of India, Mylapore Branch, 127, Luz Church
Road, Mylapore, Chennai-600004, Tamilnadu, India |
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Facilities : |
(Rs.
in millions)
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Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
Suraj Dhoka and Asscociates Chartered Accountant |
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Address : |
168, Mint Street, Manibhadra enclave, 2nd Floor, Sowcarpet,
Chennai-600079, Tamilnadu, India |
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Income-tax PAN of auditor or auditor’s firm : |
AAGPD3125K |
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|
|
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Associates/Subsidiaries : |
D Atlas Crane |
CAPITAL STRUCTURE
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.100/- each |
Rs.1.000 million |
|
|
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|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000 |
Equity Share |
Rs.100/- each |
Rs.0.100
million |
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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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1.203) |
(0.820) |
(0.191) |
|
|
NETWORTH |
(1.103) |
(0.720) |
(0.091) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.036 |
1.878 |
2.133 |
|
|
2] Unsecured Loans |
1.450 |
1.000 |
1.000 |
|
|
TOTAL BORROWING |
3.486 |
2.878 |
3.133 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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|
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TOTAL |
2.383 |
2.158 |
3.042 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.445 |
0.495 |
0.550 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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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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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.197
|
5.512 |
10.879 |
|
|
Sundry Debtors |
3.962
|
5.343 |
2.455 |
|
|
Cash & Bank Balances |
0.065
|
0.029 |
0.033 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.262
|
0.414 |
0.487 |
|
Total
Current Assets |
10.486
|
11.298 |
13.854 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities and Provisions |
8.720
|
9.826 |
11.583 |
|
Total
Current Liabilities |
8.720
|
9.826 |
11.583 |
|
|
Net Current Assets |
1.766
|
1.472 |
2.271 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.172 |
0.191 |
0.221 |
|
|
|
|
|
|
|
|
TOTAL |
2.383 |
2.158 |
3.042 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
NET
LOSS |
0.820 |
0.190 |
NA |
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (approximately) |
80.000 |
60.000 |
50.000 |
Expected Sales (2011-2012) : Rs.120.000 million
The above information has been parted by Mr. Ganesh Babu.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
(11.07)
|
(17.64) |
(161.71) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.15 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
reports |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the Firm |
Yes |
|
3) Constitution
of the Firm |
Yes |
|
4) Premises
Details |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
Background |
--------- |
|
8) No. of
Employees |
Yes |
|
9) Name of
person contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm of last three year |
Yes |
|
12)
Profitability for last three years |
No |
|
13) Reasons for
variations <> 20% |
No |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
Sister concern |
Yes |
|
17) Major
Suppliers |
No |
|
18) Major
Customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
Information |
--------- |
|
22) Litigation
that the firm / promoter involved |
--------- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility Details |
Yes |
|
25) Conduct of
the banking account |
--------- |
|
26) Buyer visit
details |
--------- |
|
27) Financials,
if provided |
No |
|
28)
Incorporation details, if applicable |
---------- |
|
29) Last account
field at ROC |
---------- |
|
30) Major
Shareholders, if available |
---------- |
NOTE:
The Registered Office of the company has been shifted from No.615, Shivalaya
Building, Ethiraj Salai, Egomore, Chennai-600008, Tamilnadu, India to the
present address.
FINANCIAL RESULT:
The company has netted Loss of Rs.0.820 million during the year and is
hopeful of achieving goods results in the years to come.
FORM 8:
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U29244TN2007PTC061955 |
|
Name of the company |
ATLAS CRANE PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
O-8, Southern Shelters, Kattupakkam, Mount
Poonamalee, Chennai-600056, Tamil Nadu, India |
|
Type of charge |
Immovable Property Any interest in immovable property Book Debts Movable Property Others |
|
Particular of charge holder |
Bank Of India, Mylapore
Branch, 127, Luz Church Road, Mylapore, Chennai-600004, Tamilnadu, India E-Mail Id: boi8002@eth.net |
|
Nature of description of the instrument
creating or modifying the charge |
Deed Of Hypothecation Of Machinery, Stock
And Book Debts For Rs.2.000 Millions Dated 30.10.2008 And Deed Of Counter
Guarantee For Rs.1.000 Million Dated 30.10.2008 |
|
Date of instrument Creating the charge |
30/10/2008 |
|
Amount secured by the charge |
Rs.3.000 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: 1.25% OVER BPLR Presently 14.50% with
monthly rest Terms of Repayment: 12 months up to 29.10.2009 Margin: 25% Extent and Operation of the charge: charge of Rs.3.000 millions secured by
paid stock of goods in trade, raw materials, finished goods and book debts of
the company as well as movable and immovable properties of the company. |
|
Short particulars of the property charged |
Fully Paid Stock In Trade, Book Debts,
Movable Properties Of The Company At 40, Naluthanu Street, Thirumazisai,
Chennai 602 107 And Immovable Property Ad Measuring 77 Cents Situated At
Survey No.112/1a, Tiruvelavoil Village, Ponneri District |
FIXED ASSETS:
·
Furnitures and Fixtures
·
Computers
·
Equipments
TRADE REFERENCES:
·
Suzlon Energy Limited, Pondicherry
·
NEPC, MICON Limited, Chennai, Tamilnadu, India
AS PER WEB DETAILS
PROFILE
Subject is
one of the leading crane manufactures EOT, HOT, GANTRY/GOLIATH, JIB,
UNDERSLUG, GOODS LIFT AND SPM DEVELOPER in Chennai, with more than 22 years
standing. They are having their office at heart of the city and their factory
is at Thirumazhisai and kumbakonam sidco no. 91 to 100.
They are having more than 40 years of expertise in the field of cranes and
material handling equipment with proven designs to all Standards.
The undersigned is having experience in manufacturing 150T Hoist, 2 x 250T EOT
Crane Tandem operated for Punjab State Electricity Board, 10T
Capacity man riding Winch for Jaduguda Mines and
30T Direct pull Winch for M/s. Salgocar as Works Manager for M/s Greaves
Limited, ( Thapar Group ).
They also
undertake modernization, capacity enhancing, retrofitting with micro speed by
planetary gear drive arrangement (at ISRO and SOUTHERN RAILWAY). Anti–collision arrangement,
remote control operation and servicing of Cranes, Winches, Hoists, Gearboxes,
etc.
They have Exported One No 7.5T and 5T Double Crab Tandem operated EOT Crane,
tested at I.I.T. in 50 cycles to SOUTH AMERICA, 2T EOT Crane for SRI LANKA and 5T, 3T cap., EOT crane
and HOT Crane for
They have also manufactured and supplied 40T Capacity, 4 x 10Ton Tandem
operated crane to M/s. The Hindu, E-Nadu, and
They have
manfactured 2 x 40T Cap., Gantry Crane of 21M Height of Lift for M/s. Triway Container freight
station and
6 x 30T/10T and 3 x 20T/10T Cap., EOT Crane of 12M + 1M Height of Lift for Korea Hinge Tech India Private
Limited.
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.50.28 |
|
|
1 |
Rs.80.07 |
|
Euro |
1 |
Rs.68.45 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
15 |
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.