|
Report Date : |
08.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMBIENCE AIRCON PRIVATE LIMITED (w.e.f. 03.09.2005) |
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Formerly Known
As : |
SMIC ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
Plot No.H-10,
Additional Murbad MIDC, Village Kudavali, Murbad, Kalyan, Thane – 421 401, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
31.03.1997 |
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Com. Reg. No.: |
11-106962 |
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Capital
Investment / Paid-up Capital : |
Rs.6.850
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28900MH1997PTC106962 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
PNEA07431E |
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|
|
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PAN No.: [Permanent Account No.] |
AAFCA3662E |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Air Management Systems. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 104000 |
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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. Profitability of the company appears to be
very low. The company is progressing slowly but steadily. Trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can
be considered for business dealings with some cautions. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Factory : |
Plot No.H-10, Additional
Murbad MIDC, Village Kudavali, Murbad, Kalyan, Thane – 421 401, |
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Tel. No.: |
91-2524-223479 |
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Fax No.: |
91-2524-223479 |
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E-Mail : |
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Website : |
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Corporate Office/ Admin. Office : |
Plot No.A-158, Road No.25, Opposite Udit Motors, MIDC, Wagle Estate,
Thane (West) - 400 604, |
|
Tel. No.: |
91-22-40681414/ 25838045 |
|
Fax No.: |
91-22-25838050 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Inderjeet Bhupinder Duggal |
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Designation : |
Director |
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Address : |
42/1004, Triveni, Vasant Vihar, |
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Date of Birth/Age : |
08.09.1973 |
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Date of Appointment : |
31.03.1997 |
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DIN No.: |
02596394 |
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Other Directorship :
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Name : |
Mr. Nitin Jaiprakash Chaudhari |
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Designation : |
Additional Director |
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Address : |
Bunglow No.55/426, |
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Date of Birth/Age : |
17.05.1959 |
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Date of Appointment : |
05.03.2009 |
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DIN No.: |
00272077 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bhupinder Duggal |
|
342500 |
|
Nitin Jaiprakash Chaudhari |
|
342500 |
|
Total |
|
685000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Air Management Systems. |
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GENERAL INFORMATION
|
Suppliers : |
Not Available |
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Customers : |
v
Dr. Reddy’s Lab v
Intas Pharma v
Umang Pharma v
v
Flamingo Pharma v
Parnex Laboratories v
v
Macleods Pharmaceuticals v
Halfkine Ajinta Pharmaceuticals v
Acccupac Engineering Private Limited v
Ciba India Private Limited v
Allied Machinery Private Limited v
Precision Gears Limited – v
Terminal Technologies ( v
Gukss Industries v
Blossom Industries Limited v
Wockhardt Limited v
Blossom Industries Limited v
Standard Chartered Bank v
Cricket Club of v
v
ITC Hotels v
Garware Textile |
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No. of Employees : |
Not Available |
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Bankers : |
v NKGSB
Co-Operative Bank Limited, v The
Shamrao Vithal Co-operative Bank Limited v
Axis Bank v
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Chirag Varaiya and Company Chartered Accountants |
|
Address : |
9, Jatta Shankar Dossa Shopping Centre (Shanti Bhuvan), 1st
Floor, Opposite Railway Station, |
|
Tel. No.: |
91-22-25613553/ 25683553 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAYPV2482K |
CAPITAL STRUCTURE
As on 30.09.2011
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 |
|
685000 |
Equity Shares |
Rs.10/- each |
Rs.6.850
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 |
6.850 |
6.850 |
6.850 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.049 |
18.570 |
14.573 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25.899 |
25.420 |
21.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.295 |
3.512 |
3.189 |
|
|
2] Unsecured Loans |
3.257 |
0.328 |
1.307 |
|
|
TOTAL BORROWING |
10.552 |
3.840 |
4.496 |
|
|
DEFERRED TAX LIABILITIES |
0.116 |
0.157 |
0.181 |
|
|
|
|
|
|
|
|
TOTAL |
36.567 |
29.417 |
26.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.948 |
13.860 |
9.235 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.199 |
0.199 |
0.125 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
29.029 |
24.129 |
20.806 |
|
|
Sundry Debtors |
27.692 |
26.933 |
30.873 |
|
|
Cash & Bank Balances |
1.798
|
(0.266) |
2.304 |
|
|
Other Current Assets |
3.470
|
2.421 |
3.315 |
|
|
Loans & Advances |
0.500
|
0.398 |
0.333 |
|
Total
Current Assets |
62.489
|
53.615 |
57.631 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.068
|
27.237 |
30.189 |
|
|
Other Current Liabilities |
11.606
|
9.984 |
8.957 |
|
|
Provisions |
1.395
|
1.039 |
1.750 |
|
Total
Current Liabilities |
46.069
|
38.260 |
40.896 |
|
|
Net Current Assets |
16.420
|
15.355 |
16.735 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.003 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
36.567 |
29.417 |
26.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
GROSS TURNOVER |
74.208 |
59.930 |
73.060 |
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.689 |
0.522 |
1.132 |
|
|
|
|
|
|
|
Less |
TAX |
0.210 |
0.175 |
0.476 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.479 |
0.347 |
0.656 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2.320 |
1.973 |
1.317 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.799 |
2.320 |
1.973 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.70 |
0.51 |
0.96 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.84
|
0.77 |
1.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.02 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
1.66 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
1.40 |
1.41 |
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) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
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 |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
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 |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U28900MH1997PTC106962 |
|
Name of the
company |
AMBIENCE AIRCON PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No.H-10,
Additional Murbad MIDC, Village Kudavali, Murbad, Kalyan, Thane – 421 401, E-Mail: accounts@ambienceaircon.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10052780 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
NKGSB
Co-Operative Bank Limited, E-Mail: cmd@nkgsb-bank.com
|
|
Nature of
description of the instrument creating or modifying the charge |
No instrument was
executed. However, the equitable mortgage has been extended, by constructive
delivery, over the immoveable property. |
|
Date of
instrument Creating the charge |
05.05.2011 |
|
Amount secured by
the charge |
Rs.29.900
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As may be
decided, from time to time, by the bank Margin: As may be
decided, from time to time, by the bank Extent and
Operation of the charge: To secure the due
repayment of the following credit facilities of Rs.29.900 millions (enhanced
From 22.900 millions) together with interest, cost, charges, expenses
thereon, granted by the Bank to the Company. 1) Cash Credit
facility of Rs.17.000 millions (Enhanced from Rs.10.000 millions) 2) Term Loan of
Rs.2.200 millions (Existing) 3) Term Loan of
Rs.2.700 millions (Existing) 3) Term Loan I of
Rs.2.300 millions (Existing) 4) Term Loan II
of Rs.5.700 millions (Existing) |
|
Short particulars
of the property charged |
Plot No.H-10, in
Additional Murbad Industrial Area at Village-Kudavali, Murbad,
District-Thane. adm. about 4303 sq.mtrs. along with factory
building/structure standing thereon |
|
Date of latest
modification prior to the present modification |
22.07.2010 |
|
Particulars of
the present modification |
By this
modification, the immoveable property i.e. (Plot No.H-10, Thane), so
mortgaged, shall now hold good to secure the additional C/C limit of Rs.7.000
millions granted to the Company. Hence, the aggregate credit facilities,
secured by charge, have been enhanced from Rs.22.900 millions to Rs.29.900
millions. (Being C/C limit of Rs.17.000 millions, Term Loan No. I and II of
Rs.2.300 millions and Rs.5.700 millions respectively and Term Loans of
Rs.2.200 millions and Rs.2.700 millions). Therefore, the
overall charge now stands at Rs.29.900 millions. |
FIXED ASSETS:
v
Electrical Fittings
v
Furniture and Fixtures
v
Equipments
v
Land at Murbad
v
v
Equipments (Plant and Machinery)
v
v
Vehicles
v
Computer
v
Office Equipments
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.55.50 |
|
|
1 |
Rs.86.40 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.