MIRA
INFORM REPORT
|
Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ASTER PRIVATE LIMITED (w.ef.11.08.2010) |
|
|
|
|
Formerly Known
As : |
ASTER TELE SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-67, 4th Crescent, Sainikpuri, Secunderabad – 500094,
Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.05.1998 |
|
|
|
|
Com. Reg. No.: |
01-029457 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 824.720
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32204AP1998PTC029457 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDA01527B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA5469L |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
The company is a professionally
driven infra engineering company providing a wide range of products and
services to the telecommunications industry. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16209140 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having fine track. There appears
some dip in the turnover and profitability of the company. However, net worth
appears to be good. Trade relations are reported as fair. Business is active.
Payments are reported to be regular 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
E-67, 4th Crescent, Sainikpuri, Hyderabad – 500094, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-27111199 |
|
Fax No.: |
91-40-27110535 |
|
E-Mail : |
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|
Website : |
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|
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Corporate Office : |
A-8/7, Aishwarya Chambers, A.S.Rao Nagar, Hyderabad – 500062, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-27130273 |
|
Fax No.: |
91-40-27130272 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
73, Siltara Industrial Growth Centre, Phase 2 Raipur
Chhattisgarh-493111, India |
|
Tel. No.: |
91-7771-3091887 |
|
Fax No.: |
91-7771-3093412 |
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|
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|
Factory 2 : |
Sankara (PO),Tilda (Tehsil), Raipur, Chhattisgarh – 493111, India |
|
Fax No.: |
91-77721-264421 |
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|
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Factory 3 : |
2108, 159A/B, Cheriyala X Roads, Hyderabad -501301, India |
|
Tel. No.: |
91-40-32518858/32909662 |
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Fax No.: |
91-841-8284070 |
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|
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Factory 4 : |
142, Thalla Singaram, Choutuppal, Hyderabad – 508252, Andhra Pradesh,
India |
|
Tel. No.: |
91-8694-272583/272584 |
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|
|
|
Factory 5 : |
197, 198/b and 251/9, NH-7, Bhoothpur (PO and Mandal), Mehboobnagar
(District) Jedcherla-509301, Andhra Pradesh, India |
|
Tel. No.: |
91-8542-205229 |
|
|
|
|
Branches Located At: |
·
Hyderabad ·
Guwahati ·
Ranchi ·
Bangalore ·
Cochin ·
Indore ·
Ahmedabad ·
Pune ·
Bhubaneswar ·
Narwal ·
Chennai ·
Lucknow ·
Meerut ·
Kolkata ·
Vadodara ·
Raipur |
DIRECTORS
AS ON 13.08.2011
|
Name : |
Mr. Srinivasa Prasad Alapati |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No.803, Defence Colony, Vayupuri, Secunderabad- 500094, Andhra
Pradesh |
|
Date of Birth/Age : |
06.08.1966 |
|
Date of Appointment : |
19.03.2005 |
|
DIN No : |
00122353 |
|
|
|
|
Name : |
Mr. Srinivas Chidambaram |
|
Designation : |
Nominee Director |
|
Address : |
A 301, Yamuna Apartments, Alknanda, New Delhi – 110019, India |
|
Date of Birth/Age : |
21.05.1966 |
|
Date of Appointment : |
09.08.2007 |
|
DIN No : |
00514665 |
|
|
|
|
Name : |
Mr. Jacob Kurian |
|
Designation : |
Director |
|
Address : |
Flat no.A32, Shefali Apartments, Aga, Abbasali Road, Bangalore –
560042, Karnataka, India |
|
Date of Birth/Age : |
09.02.1956 |
|
Date of Appointment : |
09.08.2007 |
|
DIN No : |
00213259 |
|
|
|
|
Name : |
Mr. Stephen Wayne Clemons |
|
Designation : |
Director |
|
Address : |
8904, Vistagate Dr. Dallas Texas, US -75243 |
|
Date of Birth/Age : |
28.07.1954 |
|
Date of Appointment : |
17.12.2007 |
|
DIN No : |
00466253 |
|
|
|
|
Name : |
Mr. Raghavendra Rao Bondada |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No.162-1 Sreeram Nagar Colony, Kapra, Hyderabad-500062, Andhra
Pradesh, India |
|
Date of Birth/Age : |
16.05.1974 |
|
Date of Appointment : |
18.07.2008 |
|
DIN No: |
01883766 |
|
|
|
|
Name : |
Mr. Srinivas Sheshadri Raman |
|
Designation : |
Whole Time Director |
|
Address : |
1-4-16 2/28, Plot 28, Maniksai Enclave, Sainikpuri,
Secunderabad-500094, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.07.1973 |
|
Date of Appointment : |
18.07.2008 |
|
DIN No : |
01612819 |
|
|
|
|
Name : |
Mr. Vittal Nagarajan |
|
Designation : |
Additional Director |
|
Address : |
Flat 12, 3rd Floor, Sreela 22, Gilchrist Avenue, Chetpet,
Chennai – 600031, Tamil Nadu, India |
|
Date of Birth/Age : |
31.01.1938 |
|
Date of Appointment : |
17.10.2008 |
|
DIN No : |
00959126 |
|
|
|
|
Name : |
Mr. Indira Jitendra Parikh |
|
Designation : |
Director |
|
Address : |
150/7, Jaideep Prathamesh Park, Baner Balevadi Road, Pune Delhi –
411045, India |
|
Date of Birth/Age : |
29.08.1943 |
|
Date of Appointment : |
17.10.2008 |
|
DIN No : |
00143801 |
|
|
|
|
Name : |
Mr. Nagendra Venkaswamy |
|
Designation : |
Director |
|
Address : |
Plot No.66/1/3, 3rd Floor, Bag Mane Tech Park, C.V.R.
Nagar, Bangalore – 560093, Karnataka, India |
|
Date of Birth/Age : |
18.12.1957 |
|
Date of Appointment : |
17.10.2008 |
|
DIN No : |
02404533 |
|
|
|
|
Name : |
Mr. O.N. Singh |
|
Designation : |
Director |
|
Address : |
1703-A, Lakshchandi High Light Krishnavatika Marg, Gokula Dham, Mumbai
– 400063, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1946 |
|
Date of Appointment : |
16.01.2009 |
KEY EXECUTIVES
|
Name : |
Mr. N V Ranga Kumar Chitta |
|
Designation : |
Secretary |
|
Date of Birth/Age : |
01.07.1968 |
|
Date of Appointment : |
18.05.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.08.2011
|
Names of Shareholders |
No. of Shares |
|
Rao Kantha Uppala |
20429500 |
|
Rajani Uppala |
26907400 |
|
Srinivasa Prasad Alapati |
4091100 |
|
Nylim Jacob Ballas India Fund – Maurities |
8990800 |
|
Jacob Ballascapital India (P) Limited –Delhi |
473200 |
|
NSR-PE-Mauritius LLC - Maurities |
6760000 |
|
Aster Members Welfare Trust – Andhra Pradesh |
1482000 |
AS ON 13.08.2011
|
S. No. |
Category |
Percentage |
|
1 |
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
19.10 |
|
2 |
Directors or relatives
of Directors |
62.36 |
|
3 |
Bodies corporate |
0.57 |
|
4 |
Other top fifty shareholders |
17.97 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is a professionally driven infra engineering company
providing a wide range of products and services to the telecommunications
industry. |
|
|
|
|
Products/Services : |
Telecom and T and D infrastructure and services, etc. |
PRODUCTION STATUS (As on 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Tower Parts * |
Qty in MT |
125900 |
72722 |
*As certified by the Management and accepted by the Auditors being a
technical matter.
GENERAL INFORMATION
|
Customers: |
·
Bharti Enterprises Limited ·
Vodafone Essar Limited ·
Reliance Communication Limited ·
Idea Cellular Limited ·
Tata Indicom Limited ·
Indus Towers Limited ·
Nokia Siemens Networks India Private limited ·
Huawei Technologies Company Limited ·
ZTE Technologies Company Limited ·
Aircel Limited ·
Nortel Networks India Private Limited ·
Alcatel-Lucent India Private Limited ·
NEC India Private Limited |
|||||||||||||||||||||||||||
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|
·
|
|||||||||||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce, 126, S.D. Road Branch, Secunderabad
-500003, Andhra Pradesh, India |
|||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Akasam And Associates Chartered Accountant |
|
Address : |
10-1-17/1/1, Masab Tank, Hyderabad – 500028, Andhra Pradesh, India |
|
PAN No : |
ALKPS1598M |
|
|
|
|
Name : |
Deloittee Haskins and Sells Chartered Accountant |
|
Address : |
1-2-10, SP Road, Secunderabad-500003, Andhra Pradesh, India |
|
PAN No : |
AACFD3771D |
|
|
|
|
Subsidiary Company |
·
Aster Global Services Limited, Mauritius ·
Aster Building Solutions Private Limited ·
Aster Teleservices Lanka Private Limited ·
Aster Teleservices (Nepal) Private Limited ·
Aster Infrastructure Services Ltd, Afghanistan ·
Durafast Automotive Private Limited ·
Aster Global Services Kenya Limited ·
Aster Global Services (Tanzania) Limited ·
Aster Global Services Cameroon Limited |
|
|
|
|
Step Down Subsidiary: |
·
Aster Global Services (Cambodia) Limited ·
Aster Global Services LLC, Sultanate of Oman ·
Aster Infrastructure Services Limited, Nigeria ·
Aster Structural Solutions Private Limited |
CAPITAL STRUCTURE
AS ON 13.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
82472000 |
Equity Shares |
Rs.10/- each |
Rs. 824.720
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 |
824.720 |
31.720 |
31.720 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3227.565 |
3894.989 |
2980.630 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4052.285 |
3926.709 |
3012.350 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1305.085 |
890.638 |
1491.898 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1305.085 |
890.638 |
1491.898 |
|
|
DEFERRED TAX LIABILITIES |
34.650 |
97.452 |
122.733 |
|
|
|
|
|
|
|
|
TOTAL |
5392.020 |
4914.799 |
4626.981 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1367.382 |
1561.460 |
1526.723 |
|
|
Capital work-in-progress |
88.939 |
40.665 |
52.498 |
|
|
|
|
|
|
|
|
INVESTMENT |
168.564 |
67.626 |
64.127 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1316.947
|
1151.784
|
1266.291 |
|
|
Sundry Debtors |
3864.994
|
4105.708
|
3152.557 |
|
|
Cash & Bank Balances |
62.880
|
65.832
|
48.173 |
|
|
Other Current Assets |
443.101
|
323.953
|
41.871 |
|
|
Loans & Advances |
1032.095
|
728.059
|
540.356 |
|
Total
Current Assets |
6720.017
|
6375.336
|
5049.248 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1798.950
|
2030.004
|
1154.365 |
|
|
Other Current Liabilities |
1083.672
|
909.915
|
805.972 |
|
|
Provisions |
70.260
|
190.369
|
105.278 |
|
Total
Current Liabilities |
2952.882
|
3130.288
|
2065.615 |
|
|
Net Current Assets |
3767.135
|
3245.048
|
2983.633 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5392.020 |
4914.799 |
4626.981 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
11587.604 |
9708.341 |
|
|
|
Other Income |
|
65.586 |
138.391 |
|
|
|
TOTAL (A) |
8616.910 |
11653.190 |
9846.732 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in Inventory |
|
388.170 |
(274.626) |
|
|
|
Operating Expenses |
|
8093.086 |
7778.296 |
|
|
|
Payments and Benefits to Employees |
8068.130 |
807.783 |
637.014 |
|
|
|
Administrative, Selling and other Expenses |
|
636.494 |
540.850 |
|
|
|
Miscellaneous Expenditure Written off |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
8068.130 |
9925.533 |
8681.534 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
548.780 |
1727.657 |
1165.198 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
258.950 |
214.355 |
287.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
289.830 |
1513.302 |
877.766 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
122.840 |
114.787 |
82.269 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
166.990 |
1398.515 |
795.497
|
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
41.410 |
480.445 |
280.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
125.580 |
918.070 |
515.458 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2689.530 |
1775.173 |
1263.425 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
3.172 |
3.172 |
|
|
|
Tax on Proposed Dividend |
0.000 |
0.539 |
0.539 |
|
|
BALANCE CARRIED
TO THE B/S |
2815.110 |
2689.532 |
1775.172 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
667.196 |
1090.864 |
|
|
|
Dividend |
NA |
11.216 |
11.008 |
|
|
|
Interest |
NA |
0.000 |
0.000 |
|
|
|
Other Earnings |
NA |
0.000 |
10.325 |
|
|
TOTAL
EARNINGS |
NA |
678.412 |
1112.197 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
0.000 |
0.000 |
|
|
|
Capital Goods |
NA |
22.225 |
36.051 |
|
|
TOTAL IMPORTS |
NA |
22.225 |
36.051 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.52 |
11.13 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.45
|
7.87
|
5.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.93
|
12.06
|
8.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.06
|
17.62
|
12.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.35
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
1.02
|
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
2.03
|
2.44 |
LOCAL AGENCY FURTHER INFORMATION
Background:
The Company was incorporated on May 22nd 1998 under the Companies
Act,1956. The company commenced its business with an aim to become a leading
provider of services to the telecommunication industry. The company today is
one of the leading providers of services and products to the telecommunications
industry in India and has diversified into providing services to the
telecommunications industry in geographies other than India. Also the company
has successfully diversified into the power infrastructure area and provides
turnkey services to Grid and State Electricity Companies.
Operations
The Company
commenced its business with an aim to become a leading provider of services to
the telecommunication industry. During the course of its 13 year journey, the
Company diversified into Transmission and Distribution, Poles and High Masts,
Pre-Engineered Buildings and Heavy Engineering. The Company today is a
well-recognized player in the Transmission and Distribution segment and is
growing rapidly in the Pre-engineered and Poles and High Masts space. The
Company’s order backlog (excluding L1 bids) stood at INR 15,112.32 Million at
the end of the Financial Year 2010-11. Customer Base The Company continues to
retain and work with existing customers while growing its customer base by
acquiring new customers, especially in Transmission and Distribution,
Pre-engineered Buildings, Poles and High Masts and Heavy Engineering. The
Company’s client list includes many marquee customers across the different
operating verticals.
Business Overview:
The Year 2010-11
has been a tough year for the Company. This year saw a sharp decline in the
domestic telecom infrastructure demand which was a result of a drastic
reduction in the roll out plans of mobile operators. Tower companies
drastically cut down their new roll out plans thereby directly affecting the
requirement of new sites. The new roll-outs from tower companies during the
Financial Year 2010-11 was approximately 60-70% lower than what was originally
forecast for the current year. In the Financial Year 2011-12, they expect the
demand situation to continue to be low with potential increase in demand from
FY 2012-13, based on rural Wi-MAX requirement of substantial tower
infrastructure. Transmission and Distribution business, both in the domestic
and international segments will continue to grow at a healthy rate. Although
the competition levels in the domestic TandD segment have increased over the
last couple of years, having completed high voltage turnkey projects for Power
Grid and SEBs, and being a manufacturer of towers, the Company has a better
advantage over other new entrants. In other business areas where the Company is
present like Pre-engineered Buildings, Poles and High Masts and Heavy
Engineering, there has been a consistent increase in the number of enquiries
indicating a demand increase, especially from the industrial segment. With
these businesses having crossed the 2-3 year mark (except for Heavy
Engineering), the Company is now in a position to grow these business at a high
growth rate based on increased market demand and established presence.
Geographic Footprint The Company continues to maintain presence across a large
part of India while consolidating its global presence, with a focus on the
African market. Between telecom, transmission and distribution, pre-engineered
buildings and poles and high masts, the Company has presence in Afghanistan,
Bahrain, Bangladesh, Cameroon, Kenya, Kingdom of Saudi Arabia, Nepal, Nigeria,
Mauritius, Oman, Sri Lanka, Tanzania and United Arab Emirates. Growth Drivers
Telecom - Domestic The telecom infrastructure deployment growth fell
dramatically during the current Financial Year of Establishment under
discussion. However, while they expect a similar rate of growth (or the absence
of it) to continue in the next Financial Year 2011-12, they expect the domestic
demand to grow in the Financial Year 2012-13 and thereafter for a couple of
years – riding on the back of strong infrastructure demand for rural Wi-MAX
coverage. Having been in a leading position for many years in this segment and
having a strong presence across the country, the Company will continue to
operate in this segment albeit at a lower revenue level and will grasp the
growth opportunity as and when it happens. Telecom - International The
Company’s changed entry strategy for international markets, which it started
implementing in the last FY has started working with good contribution from
Cameroon and Kenya operations. The Company will continue to build on this
approach to increase the share of revenues from international telecom business.
African market will remain the focus area that will drive growth in the
international telecom sector for the Company.
Transmission and Distribution
The Company’s
strategy, a few years ago, to look at Transmission and Distribution segment as
a revenue crossover and growth strategy over and above telecom infrastructure
has begun to show results. The Company has achieved a gross turnover of INR
4,553.90 Million in the current Financial Year and has a pending order book of
INR 9,016.67 Million. The Company completed turnkey execution of 400 KV lines
during the Financial Year under discussion, thereby acquiring the ability to
bid for larger projects on its own. With necessary technical qualifications,
increasing strength of project management teams and inherent manufacturing
skills, the Company is well positioned to increase its share from the growing
Transmission and Distribution segment in India as well as in the international
markets
Future Outlook
The two best
indicators of the huge power infrastructure opportunity in India are the low
per capita consumption of power and the huge investments that are planned both
by the Government and Private sectors. With the Transmission and Distribution
market expected to see investments of ~ INR 1,500 Billion over the next five
years, it gives the Company the right opportunity to target for its share of
business based on the experience and expertise gained in the previous few years
of TandD operations. Moving on to Pre-engineered Buildings, the market has shown
marked improvement in the last year and their internal evaluation of the market
projects an annual CAGR of 20% over the next 5 years. With industrial recovery,
and some of the large infrastructure projects back on track, the Company
expects to grow in multiples of its previous year revenues in the ensuing
financial year.
FIXED ASSETS:
Tangible Assets
·
Land – Free Hold
·
Building – Non Factory
·
Building – Factory
·
Temporary Erections
·
Computers
·
Plant and Machinery
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
·
Technical Know-How
FORM 8
|
Corporate
identity number of the company |
U32204AP1998PTC029457 |
|
Name of the
company |
ASTER PRIVATE LIMITED (w.ef.11.08.2010) |
|
Address of the
registered office or of the principal place of business in |
E-67, 4th Crescent, Sainikpuri, Secunderabad – 500094,
Andhra Pradesh, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Others |
|
Particular of
charge holder |
Oriental Bank of Commerce, 126, S.D. Road Branch, Secunderabad -500003, Andhra Pradesh, India Email: bm0181@obc.co.in |
|
Nature of
instrument creating charge |
Supplemental
Agreement To Secure Credit / Loan Facilities |
|
Date of
instrument Creating the charge |
17.01.2012 |
|
Amount secured by
the charge |
Rs. 250.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Per The Existing
Terms And Conditions Terms of repayment Payable On Demand Margin As Per The
Existing Terms And Conditions Extent and operation of the charge As Per The
Existing Terms And Conditions |
|
Short particulars
of the property charged (Including location of the property) |
As Per The
Existing Terms And Conditions, I.E. First Pari Passu Charge Over The Current
Assets Along With Other Lenders In Multiple Banking Arrangement. |
|
Date of
instrument modifying the charge |
28.08.2006 |
|
Particulars of
the present modification |
The CC Limits
Were Redued From Rs. 150 millions To Rs.100 millions. With This Change The Present Over All
Limits Are Rs.250 millions Only. |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions 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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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.51.04 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.