MIRA INFORM REPORT

 

 

Report Date :

30.11.2011

 

IDENTIFICATION DETAILS

 

Name :

APARNA CONTROLS PRIVATE LIMITED

 

 

Registered Office :

D-98, Jeedimetla, Hyderabad - 500055, Andhra Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

03.04.1997

 

 

Com. Reg. No.:

01-026808

 

 

Capital Investment / Paid-up Capital :

Rs.10.000 Millions

 

 

CIN No.:

[Company Identification No.]

U40109AP1997PTC026808

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDA01700G

HYDA03529B

 

 

PAN No.:

AAFFS78931

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Thermostats Cold Application

 

 

No. of Employees :

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 151000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established 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

 

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

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY

 

Name :

Mr. Prasad

Designation :

Deputy Manager of Store

Contact No.:

91-40-44759999

Date :

22.11.2011

 

 

LOCATIONS

 

Registered Office / Factory:

D-98, Jeedimetla, Hyderabad - 500055, Andhra Pradesh, India

Tel. No.:

91-40-230976372 / 44759999 / 23092282 / 23095604

Fax No.:

91-40-23096492 / 23094638

E-Mail :

info@annapurnabhuskari.com

aparna638_hyd@dataone.in

aparnacontrols@aegroup.co.in

Website :

http://www.annapurnabhaskari.com

Area :

15000 sq. ft.

Location :

Owned

 

 

DIRECTORS

 

AS ON 30.09.2011

 

Name :

Mrs. G. Krishna Prasad

Designation :

Director

Address :

Plot No.19, Jyothi Colony, Picket, Secunderabad – 500015, Andhra Pradesh, India

Date of Birth/Age :

24.10.1950

Date of Appointment :

03.04.1997

DIN No.:

00722523

 

Other Directorship:

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U31909AP1985PTC005779

ANNAPURNA ELECTRONICS AND SERVICES PRIVATE LIMITED

Director

09-09-85

09-09-85

-

Active

NO

2

U40109AP1997PTC026808

APARNA CONTROLS PRIVATE LIMITED

Director

03-04-97

03-04-97

-

Active

NO

3

U72200AP2000PTC035211

BHASKARI ELECTRICAL SYSTEM PRIVATE LIMITED

Director

08-09-00

08-09-00

-

Active

NO

4

U29120AP2004PTC042676

BHASKARI AQUA PRODUCTS PRIVATE LIMITED

Managing director

18-02-04

18-02-04

-

Active

NO

5

U93000AP2009PTC062481

BHASKARI LAW SOLUTIONS PRIVATE LIMITED

Director

06-01-09

06-01-09

-

Active

NO

 

Name :

Mr. G. Bhaskari Lakshmi

Designation :

Director

Address :

Plot No.19, Jyothi Colony, Picket, Secunderabad – 500015, Andhra Pradesh, India

Date of Birth/Age :

11.05.1955

Date of Appointment :

31.03.2005

DIN No.:

00722519

 

Other Directorship:

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U31909AP1985PTC005779

ANNAPURNA ELECTRONICS AND SERVICES PRIVATE LIMITED

Director

31-03-05

31-03-05

-

Active

NO

2

U40109AP1997PTC026808

APARNA CONTROLS PRIVATE LIMITED

Director

31-03-05

31-03-05

-

Active

NO

3

U29120AP2004PTC042676

BHASKARI AQUA PRODUCTS PRIVATE LIMITED

Director

20-08-08

20-08-08

-

Active

NO

4

U72200AP2000PTC035211

BHASKARI ELECTRICAL SYSTEM PRIVATE LIMITED

Director

27-08-08

27-08-08

-

Active

NO

5

U93000AP2009PTC062481

BHASKARI LAW SOLUTIONS PRIVATE LIMITED

Director

01-02-10

01-02-10

-

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2011

 

Names of Shareholders

 

No. of Shares

G. Krsihna Prasad

 

736000

G. Bhaskari Lakshmi

 

127000

G. Soumya

 

68500

G. Swathi

 

68500

 

 

 

Total

 

1000000

 

AS ON 30.09.2011

 

Equity Shares Break Up

Percentage

 

 

Directors or relatives of Directors

100.00

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Thermostats Cold Applicable

 

 

Importer

 

Products :

Raw Material

Country :

Japan

 

 

Terms :

 

Selling :

Cash, Credit (30 days)

 

 

Purchasing :

L/C, Cash, Credit (30 days)

 

PRODUCTION STATUS (AS ON 31.03.2011)

 

Particulars

Unit

Installed Capacity

Actual Production

Thermostats

Nos.

12000

2996970

 

 

 

 

 

 

GENERAL INFORMATION

 

Customers :

·         Others

·         Manufacturer

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :

State Bank of India, Jeedimetia Branch, India

 

 

Facilities :

Secured Loan

 

Rs. In Millions

31.03.2011

Rs. In Millions

31.03.2010

OCC with SBI

27.841

27.746

SIDIBI Term Loan

6.000

0.000

 

 

 

Total

33.841

22.746

 

 

 

Unsecured Loan

 

Rs. In Millions

31.03.2011

Rs. In Millions

31.03.2010

From Director

2.000

0.000

 

 

 

Total

2.000

0.000

 

 

 

Banking Relations :

-----

 

 

Financial Institute :

Andhra Pradesh State Financial Corporation

 

 

Auditors :

 

Name :

Mahavishnu And Sarma

Chartered Accountant

Address :

Plot No.49, Jawaharnagar Colony, PG Road, Secunderabad – 500003, Andhra Pradesh, India

Tel. No.:

91-40-23065179

E mail :

padmaja271@rediffmail.com

PAN No.:

AACFM8795N

 

 

Sister Concern :

·         Annapurna Electronics and Services Limited

·         Bhaskari Electrical Systems Private Limited

·         Bhaskari Aqua Products Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2011

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Millions

 

 

 

 

 


 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2011

31.03.2010

31.03.2009

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

10.000

10.000

10.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

27.713

25.574

21.323

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

37.713

35.574

31.323

LOAN FUNDS

 

 

 

1] Secured Loans

33.841

22.746

17.004

2] Unsecured Loans

2.000

0.000

0.000

TOTAL BORROWING

35.841

22.746

17.004

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

73.554

58.320

48.327

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

30.541

23.816

22.132

Capital work-in-progress

7.254

0.325

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

27.420

22.263

10.956

 

Sundry Debtors

35.951

28.447

28.422

 

Cash & Bank Balances

1.936

11.361

11.664

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

3.707

2.046

1.945

Total Current Assets

69.014

64.117

52.987

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

28.338

25.091

21.629

 

Other Current Liabilities

0.000

0.000

0.000

 

Provisions

4.917

4.847

5.163

Total Current Liabilities

33.255

29.938

26.792

Net Current Assets

35.759

34.179

26.195

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

73.554

58.320

48.327

 


PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Sales

183.383

156.965

118.390

 

 

Miscellaneous Income

0.252

0.606

0.177

 

 

TOTAL                                     (A)

183.635

157.571

118.567

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Consumption of Materials

138.217

115.342

84.317

 

 

Employees Remuneration ands Benefits

12.207

10.343

7.147

 

 

Excise Duty

7.924

6.684

7.339

 

 

Electricity Charges

1.427

1.182

1.000

 

 

Sales Tax

1.342

0.250

1.034

 

 

Other Expenses

11.216

9.327

8.787

 

 

Accretion on stock

(3.628)

(1.875)

(2.724)

 

 

TOTAL                                     (B)

168.705

141.253

106.900

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

14.930

16.318

11.667

 

 

 

 

 

Less

INTEREST ON BANK LOAN                               (D)

2.659

1.559

0.341

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

12.271

14.759

11.326

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1.988

1.175

1.072

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

10.283

13.584

10.254

 

 

 

 

 

Less

TAX                                                                  (H)

3.496

4.654

3.497

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

6.787

8.930

6.757

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

17.407

14.514

13.462

 

 

 

 

 

 

PROVISION FOR DIVIDEND EQUALIZATION RESERVE TR TO BALANCE SHEET

1.028

1.358

1.025

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Dividend

4.648

4.679

4.679

 

BALANCE CARRIED TO THE B/S

18.518

17.407

14.514

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

0.916

0.553

1.200

 

 

Capital Goods

0.000

1.317

0.000

 

TOTAL IMPORTS

0.916

1.870

1.200

 

 

 

 

 

 

Earnings Per Share (Rs.)

6.78

89.31

NA

 

Expected Sales (2011-2012) : Rs. 220.000 millions

 

The above information has been parted by Mr. Prasad .

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)

3.69

5.66

5.69

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

5.60

8.65

8.66

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

10.32

0.15

13.65

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.27

0.38

0.32

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.83

1.48

1.39

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.07

2.14

1.97

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Check List by Info Agents

Available in Report (Yes / No)

1.       Year of Establishment

Yes

2.       Locality of the firm

Yes

3.       Constructions 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 for last three years

Yes

12.   Profitability for last three years

No

13.   Reasons for variation <> 20%

No

14.   Estimation for coming financial year

Yes

15.   Capital in the business

No

16.   Details of sister concerns

Yes

17.   Major suppliers

No

18.   Major customers

No

19.   Payments terms

Yes

20.   Export / Import details

Yes

21.   Market information

-------

22.   Litigations 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 accounts filed at ROC

------

30.   Major Shareholders, if available

------

 

 

FIXED ASSETS :

 

·         Plant and Machinery

·         Punching Machine

·         Water Treatment Unit

·         Welding Machine

·         Vacuum Pump

·         Computers

·         Land – Toofan

·         Building

·         Type Writer

·         Furniture

·         Digital Camera

·         Water Fountain

·         Digital Camera

·         Xerox Machine

·         TVS Vehicle

·         Corola Vehicle

 

FORM 8

 

Corporate identity number of the company

U40109AP1997PTC026808

Name of the company

APARNA CONTROLS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

D-98Jeedimetla, Hyderabad, Andhra Pradesh, India

This form is for

Creation of charge

Type of charge

Immovable property

Movable property (not being pledge)

Particular of charge holder

Andhra Pradesh State Financial Corporation, Chirag Ali Lane, Abids, Hyderabad – 500001, Andhra Pradesh, INDIA

Nature of instrument creating charge

Memorandum of Deposit of Title Deeds dated 29/07/2011

Deed of Hypothecation dated 29/07/2011

Date of instrument Creating the charge

29/07/2011

Amount secured by the charge

Rs. 18.700 millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of interest

16% per annum to be paid quarterly. Penal interest @ 2% in case of default.

Special interest rebate @ 2% p.a and special interest concession of 1.5% to be allowed as per the rules of the corporation.

 

Terms of repayment

25 quarterly installments starting form one year after the date of disbursement. First installment is Rs.0.700 millions and subsequent 24 installments of Rs.0.750 millions each.

 

Margin

25%

 

Short particulars of the property charged (Including location of the property)

1.       Equitable mortgage of plot No.25 adm.22176.00 sq.mts (Ac 5.48) covered by sy.no.354 Automotive Park, APIIC, Muppereddypally, Toopron, with building

 

2.       Hypothecation of Plant and Machinery.

 

 


CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 51.93

UK Pound

1

Rs. 80.62

Euro

1

Rs. 69.36

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

45

 

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

-

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.