MIRA
INFORM REPORT
|
Report Date : |
21.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
AEROTECH EQUIPMENTS AND PROJECTS PRIVATE LIMITED |
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Registered
Office : |
H - 47, Bali Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
13.12.2002 |
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Com. Reg. No.: |
55-118035 |
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Capital
Investment / Paid-up Capital : |
Rs.0.950
Million |
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CIN No.: [Company Identification
No.] |
U74999DL2002PTC118035 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of Industrial Blower, Exhaust Fan, Air Purifiers System,
Etc |
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No. of Employees
: |
30 (In Office 8, In Factory 22) [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 8000 |
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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 relatively small 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. The company can be considered for business dealings with some caution.
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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) |
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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
|
Name : |
Mr. Vikas Saxena |
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Designation : |
Director |
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Contact No.: |
91-9810162210 |
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Date : |
19.11.2011 |
LOCATIONS
|
Registered
Office : |
H - 47, Bali Nagar, |
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Tel. No.: |
91-120-4131036 |
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Mobile No.: |
91-9810162210 [Mr. Vikas Saxena] |
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Fax No.: |
91-120-4131036 |
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E-Mail : |
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Area: |
400 sq. ft |
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Location: |
Owned |
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Corporate Office
: |
101 - A, Ansal's Sumedha, Raj Nagar, District Centre, |
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Tel. No.: |
91-120-6454065 / 2827513 |
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Fax No.: |
91-120-2821513 |
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Website : |
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Factory 1 : |
E-1, Buland Shahar Road Industrial Area, Ghaziabad - 201001, Uttar
Pradesh, India |
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Tel. No.: |
91-120-2821513/2827513/6454065/4131036 |
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Fax No.: |
91-120-2821513 |
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Factory 2 : |
Plot No. 189, Eco-tech Extension 1, Eco-tech, District Gautam
Budh Greater Noida-201001 Uttar
Pradesh India |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Vikas Saxena |
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Designation : |
Director |
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Address : |
SD - 66, Shastri Nagar, |
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Date of
Birth/Age : |
14.05.1973 |
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Date of
Appointment : |
13.12.2002 |
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Din No.: |
01397334 |
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Name : |
Mrs. Sarita Saxena |
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Designation : |
Director |
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Address : |
SD - 66, Shastri Nagar, |
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Date of
Birth/Age : |
08.03.1975 |
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Date of
Appointment : |
14.05.2004 |
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Din No.: |
01404381 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
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No. of Shares |
|
Vikas Saxena |
|
73000 |
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Sarita Saxena |
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22000 |
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Total |
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95000 |
AS ON 29.09.2010
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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 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Industrial Blower, Exhaust Fan, Air Purifiers System,
Etc |
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Products : |
Centrifugal Blowers
Axial Flow
Fans
Fan Impellers
Other Products
Projects
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Exports : |
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Products : |
Root Entatea and Exhaust Fan |
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Countries : |
·
Srilanka ·
Bangladesh
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Terms : |
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Selling : |
Cash and Credit (60 days) |
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Purchasing : |
L/C / Cash and Credit (60 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
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Blower, Exhaust Fans and Air Purifiers Systems |
Qty |
324 |
GENERAL INFORMATION
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Suppliers: |
ABB Limited |
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Customers : |
Engineering Industries ·
Zen Backse Limited ·
Cummine India Limited |
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No. of Employees : |
30 (In Office 8, In Factory 22) [Approximately] |
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Bankers : |
HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B K Kapur and Company Chartered Accountants |
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Address : |
17, Navyug Market, Ghaziabad-201001, Uttar Pradesh, India |
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Tel. No.: |
91-120-2790947 / 2790951 |
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Pan No.: |
AAFFB2355L |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95000 |
Equity Shares |
Rs.10/- each |
Rs.0.950
Million |
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 |
0.950 |
0.950 |
0.100 |
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2] Share Application Money |
1.060 |
0.769 |
1.619 |
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3] Reserves & Surplus |
0.037 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.010) |
(0.037) |
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NETWORTH |
2.047 |
1.709 |
1.682 |
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LOAN FUNDS |
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1] Secured Loans |
0.243 |
0.339 |
0.425 |
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2] Unsecured Loans |
1.565 |
1.930 |
1.442 |
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TOTAL BORROWING |
1.808 |
2.269 |
1.867 |
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DEFERRED TAX LIABILITIES |
0.002 |
0.010 |
0.675 |
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DEFERRED PAYMENT CREDIT TO GREATER NOIDA |
0.154 |
0.435 |
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TOTAL |
4.011 |
4.423 |
4.224 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.003 |
3.896 |
3.814 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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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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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.889
|
1.079
|
0.454
|
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Sundry Debtors |
2.088
|
1.254
|
3.589
|
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Cash & Bank Balances |
0.008
|
0.093
|
0.021
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans & Advances |
0.321
|
0.274
|
0.167
|
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Total
Current Assets |
4.306
|
2.700
|
4.231
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.219
|
1.348
|
2.388
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Other Current Liabilities |
1.064
|
0.814
|
1.432
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Provisions |
0.019
|
0.015
|
0.009
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Total
Current Liabilities |
4.302
|
2.177
|
3.829
|
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Net Current Assets |
0.004
|
0.523
|
0.402
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MISCELLANEOUS EXPENSES |
0.004 |
0.004 |
0.008 |
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TOTAL |
4.011 |
4.423 |
4.224 |
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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 |
11.815 |
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Other Income |
NA |
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TOTAL |
NA |
8.158 |
10.065 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
NA |
7.821 |
9.880 |
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Advertising Expenses |
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TOTAL |
NA |
7.821 |
9.880 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.351 |
0.337 |
0.185 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.283 |
0.295 |
0.305 |
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PROFIT / (LOSS)
BEFORE TAX |
0.068 |
0.042 |
(0.120) |
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Less |
TAX |
0.003 |
0.015 |
0.005 |
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PROFIT / (LOSS)
AFTER TAX |
0.065 |
0.027 |
(0.125) |
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Earnings Per
Share (Rs.) |
0.68 |
0.28 |
(1.32) |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover [Approximately] |
|
|
27.500 |
Expected Sales (2011-12) : Rs.35.000 Millions.
The above information has been parted by Mr. Vikas Saxena.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
0.33
|
(1.24)
|
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Net Profit Margin (PBT/Sales) |
(%) |
0.57
|
NA
|
NA
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.82
|
0.63
|
(1.49)
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Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.02
|
(0.07)
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Debt Equity Ratio (Total Liability/Networth) |
|
2.98
|
2.86
|
3.39
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.24
|
1.10
|
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes (2 Years) |
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12) Profitability for last three years |
Yes (2 Years) |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
-- |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
-- |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
No |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
ACCOUNTS AND
PROGRESS:
During the year 2009-10 the company has achieved turnover of Rs.11.815
millions as compared to Rs.8.158 millions as immediate preceding year. on the above
turnover the company has shown a net profit of RS.0.068 million after
depreciation of Rs.0.283 millions as compared to the net profit of Rs.0.042
millions after depreciation of Rs.0.295 million in the immediate preceding
year. The directors are quite optimistic that the company will present better
results in the current year.
FIXED ASSETS:
- Plant and Machinery
- Office Equipment
- Computer
- Generator
- Motor Vehicle
TRADE REFERENCES:
·
Zen Backse Limited
·
Cummine India Limited
·
ABB 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.51.35 |
|
|
1 |
Rs.80.97 |
|
Euro |
1 |
Rs.69.25 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.