MIRA
INFORM REPORT
|
Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
AJOSHA BIO TEKNIK PRIVATE. LIMITED |
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Registered
Office : |
Shop No.1, I-Building, Udhogvihar Industrial Estate, Vithalwadi,
(West), Ulhas Nagar, Thane – 421003, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.08.2004 |
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Com. Reg. No.: |
11-148293 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U33100MH2004PTC148293 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA30792G |
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PAN No.: [Permanent Account No.] |
AAFCA5563L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Laboratories Disposable Goods. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
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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 6000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealing with some caution. |
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. Rajiv |
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Designation : |
Manager |
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Contact No.: |
91-9028664864 |
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Date : |
06.04.2012 |
LOCATIONS
|
Registered Office : |
Shop No.1, I-Building, Udhogvihar Industrial Estate, Vithalwadi,
(West), Ulhas Nagar, Thane – 421003, Maharashtra, India |
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Tel No. |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Located ·
Vasai |
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Branches : |
144, Hiranandani industrial Estate, Kanjurmarg (West), Mumbai –
400078, Maharashtra, India |
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Tel. No.: |
91-22-25772681/67100849/25782681 |
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Fax No.: |
91-22-25772681/91-25782681 |
DIRECTORS
As on: 15.09.2011
|
Name : |
Mrs. Asha Elizabeth Abraham |
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Designation : |
Director |
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Address : |
402 / B, Building Great Eastern Garden LBS Marg Kanjurnarg, Mumbai –
400078, Maharashtra, India |
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Date of Birth/Age : |
18.09.1959 |
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‘Date of Appointment : |
30.08.2004 |
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DIN No.: |
01711312 |
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Name : |
Mr. Joseph Abraham Mallekkattu |
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Designation : |
Director |
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Address : |
402 / B, Building Great Eastern Garden LBS Marg Kanjurnarg, Mumbai –
400078, Maharashtra, India |
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Date of Birth/Age : |
08.10.1954 |
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Date of Appointment : |
30.08.2004 |
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DIN No.: |
02902217 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2011
|
Names of Shareholders |
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No. of Shares |
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Asha Elizabeth Abraham |
|
5000 |
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Joseph Abraham Mallekkattu |
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5000 |
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Total
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|
10000 |
As on 15.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plastic Laboratories Disposable Goods. |
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Terms : |
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Selling : |
Cash / Credit (30 days) / (60 days) |
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Purchasing : |
Cash / Credit (30 days) / (60 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
Others - (Laboratories) |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Indian Bank, Ghatkopar Branch, Sameet APTT, Upashray Lane, Ghatkopar –
East, Mumbai – 400077, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sanjay .K. Lodha and Associate Chartered Accountant |
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Address : |
1, Singhivi Apartment, 16th Road, Near Chembur GYMKHANA, Chembur
Mumbai – 4000071, Maharashtra, India |
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PAN.: |
ABIPL1711A |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.546 |
1.280 |
0.773 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.646 |
1.380 |
0.873 |
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LOAN FUNDS |
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1] Secured Loans |
2.397 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.380 |
4.085 |
1.432 |
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TOTAL BORROWING |
5.777 |
4.085 |
1.432 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
7.423 |
5.465 |
2.305 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.690 |
0.102 |
0.085 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.349 |
0.274 |
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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 |
1.334
|
0.316 |
0.235 |
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Sundry Debtors |
3.495
|
4.030 |
3.699 |
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Cash & Bank Balances |
1.246
|
1.335 |
0.528 |
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Other Current Assets |
0.283
|
0.281 |
0.000 |
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Loans & Advances |
1.409
|
0.361 |
0.854 |
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Total
Current Assets |
7.767
|
6.322 |
5.316 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
0.772 |
2.368 |
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Other Current Liabilities |
1.034
|
0.536 |
0.837 |
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Provisions |
0.000
|
0.000 |
0.201 |
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Total
Current Liabilities |
1.034
|
1.308 |
3.406 |
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Net Current Assets |
6.463
|
5.014 |
1.910 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.036 |
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TOTAL |
7.423 |
5.465 |
2.305 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
19.525 |
22.688 |
16.771 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
18.756 |
22.180 |
16.177 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.769 |
0.508 |
0.594 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.063 |
0.001 |
0.000 |
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PROFIT BEFORE
TAX |
0.706 |
0.507 |
0.594 |
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Less |
TAX |
0.214 |
0.261 |
0.201 |
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PROFIT AFTER TAX
(G-I) |
0.492 |
0.246 |
0.393 |
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Earnings Per
Share (Rs.) |
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Particulars |
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|
31.03.2012 |
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Sales TurNover (Approximately) |
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|
20.000 |
Expected Sales (2012-2013): Rs.25.000 Millions
The above information has been parted by Mr. Rajiv
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.51
|
1.08 |
2.34 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.34
|
7.89 |
11.00 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.43
|
0.37 |
0.68 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.13
|
3.91 |
5.54 |
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Current Ratio (Current Asset/Current Liability) |
|
7.51
|
4.83 |
1.56 |
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 |
No |
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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 |
Yes |
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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 |
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12) Profitability for last three years |
Yes |
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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 |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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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 |
Yes |
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28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
Review of Operation
During the Year under, the company achieved sales of Rs. 19.500 Millions which is 13.95% Lower than the previous years Sales figure. Based on the principal of going concern the Director are continuously looking for avenues for future growth of the company in Pharmaceuticals industry
Bankers Charges Report as per Registry
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U33100MH2004PTC148293 |
|
Name of the
company |
AJOSHA BIO TEKNIK PRIVATE. LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shop No.1, I-Building, Udhogvihar Industrial Estate, Vithalwadi,
(West), Ulhas Nagar, Thane – 421003, Maharashtra, India |
|
This form is for |
Modification
of charges |
|
Charge
identification (ID) number of the charge to be modified |
10185588 |
|
Type of charge |
·
Book
debts ·
Movable
property ·
Other (Stock) |
|
Particular of
charge holder |
Indian Bank, Ghatkopar Branch, Sameet APTT, Upashray Lane, Ghatkopar –
East, Mumbai – 400077, Maharashtra, India Email id : adlalwani@rediffmail.com |
|
Nature of
instrument creating charge |
·
Agreement
of Hypothecation of Movables ·
Agreement
of Hypothecation of Movables ·
Medium
Term Loan Agreement (All the Above Agreement constitute A Single charge) |
|
Date of
instrument Creating the charge |
06.02.2012 |
|
Amount secured by
the charge |
Rs. 8.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest ROI=BR+Spread
2.00+TP (0.50) – Presently 13.25 %, MTL=BR+Spread(2.50)+TP(0.50) Presently
13.75% and as Stipulated by Bank from time to time Terms of Repayment MTL= 60 EMI of
Rs. 0.046 million Each and /or AS Stipulated by Bank from time to time Margin OD/BD=25%,
MTL=25% AMD/OR As Stipulated by the Bank from time to time Extent and Operation of the charge First charge
(Present and Future) = Total Limit Rs. 8.000 millions(OD/BD=6.0000),
MTS=2.000 millions and /or Stipulated by Bank from time to time Others As Stipulated by
the Bank from time to time And As per
Agreement attached and As per sanction Letter of the Bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
·
First
charge (Present and Future) on following Assets (1) Hypothecation of all
stock/goods/inventories/product kept at Borrower
place/Premises/godown/premises/Factories or in Transit or whereverelse ·
Hypothecation
of all Book Debts and Receivables ·
Hypothecation
of Machinary Purchased out of Bank finance ·
Hypothecation
of all current, Movable and fixe of the company |
|
Particulars of
the present modification |
By this modification
limit enhanced to Rs.8.000 million (OD/BD=Rs.6.000 millions MTL = Rs. 2.000
millions, continued security as given by original charge as well as by
modifications and Hypothecation of all the machinery purchased out of bank
finance, terms and conditions. |
Fixed Assets
·
Furniture and Fixture
·
Plant and Machinery
·
Laptop
·
Computer
·
Tata Phone
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.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
29 |
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.