MIRA
INFORM REPORT
|
Report Date : |
16.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
AREIS ELECTRONIC INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
W-20, Kulgaon, MIDC, Badlapur, Thane-421503, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.02.1979 |
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Com. Reg. No.: |
11-021002 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.995
Million |
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CIN No.: [Company Identification
No.] |
U32200MH1979PTC021002 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA06223A |
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PAN No.: [Permanent Account No.] |
AADCA0975G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Packing Material in Plastic LD, HM, PP, Goods in All
Type of Synthetic Rubber and Shanti™ Rubber Rolls for Rice Mills. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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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 4700 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. Financial condition of the
company appears to be weak. There appears some improvement in the sales
turnover during 2011. Trade relations are reported to be improving. Business
is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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 |
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
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Registered Office/ Factory : |
W-20, Kulgaon, MIDC, Badlapur, Thane-421503, Maharashtra, India |
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Tel. No.: |
91-251-2690720/2698533 |
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Fax No.: |
91-251-2697024 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ashok Prempal Singh |
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Designation : |
Director |
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Address : |
D-4, Samrath Complex, Church Road, Ramesh Wadi, Badlapur (West),
Thane-421503, Maharashtra, India |
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Date of Appointment : |
17.12.2005 |
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Din No.: |
00304401 |
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Other Directorship:
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Name : |
Mr. Rajendra Bhoodev Singh |
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Designation : |
Director |
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Address : |
D-3, Samrath Complex, Church Road, Ramesh Wadi, Badlapur (West),
Thane-421503, Maharashtra, India |
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Date of Appointment : |
17.12.2005 |
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Din No.: |
00304739 |
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Other Directorship:
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Name : |
Mr. Prempal Kripal Singh |
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Designation : |
Director |
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Address : |
R.C. Block No. 28/335, Chembur Colony, Mumbai-400074, Maharashtra,
India |
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Date of Appointment : |
17.12.2005 |
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Din No.: |
00304886 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Prempal Kripal Singh |
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6250 |
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Rajendra Bhoodev Singh |
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500 |
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Ashok Prempal Singh |
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2090 |
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Javetri Singh |
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510 |
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Vandna Singh |
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605 |
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Total |
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9955 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Packing Material in Plastic LD, HM, PP, Goods in All
Type of Synthetic Rubber and Shanti™ Rubber Rolls for Rice Mills. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Bank of Maharashtra, Vartak Nagar, Thane-400606, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D V Kamat and Company Chartered Accountants |
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Address : |
307, Veena Chambers, 4th Cross Clive Road, Dana Bunder,
Masjid (East), Mumbai-400009, Maharashtra, India |
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Pan No.: |
AACPK0398K |
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Associates/Group Concern : |
·
Amber Bush Rubber Industries Private Limited ·
Polygrip Rubber Products Private Limited ·
ARV Rubber Industries Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9955 |
Equity Shares |
Rs.100/- each |
Rs.0.995
Million |
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 |
0.995 |
0.995 |
0.995 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.184 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.076) |
(0.300) |
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NETWORTH |
1.179 |
0.919 |
0.695 |
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LOAN FUNDS |
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1] Secured Loans |
5.172 |
3.515 |
3.255 |
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2] Unsecured Loans |
0.560 |
0.590 |
0.772 |
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TOTAL BORROWING |
5.732 |
4.105 |
4.027 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.911 |
5.024 |
4.722 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.990 |
2.331 |
2.222 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.013 |
0.006 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.255
|
0.851 |
1.797 |
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Sundry Debtors |
7.866
|
6.885 |
2.800 |
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Cash & Bank Balances |
0.357
|
0.194 |
0.101 |
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Other Current Assets |
0.119
|
0.106 |
0.045 |
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Loans & Advances |
1.751
|
0.159 |
0.064 |
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Total
Current Assets |
11.348
|
8.195 |
4.807 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
7.368
|
5.398 |
2.295 |
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Other Current Liabilities |
0.000
|
0.000 |
0.000 |
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Provisions |
0.072
|
0.110 |
0.012 |
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Total
Current Liabilities |
7.440
|
5.508 |
2.307 |
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Net Current Assets |
3.908
|
2.687 |
2.500 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.911 |
5.024 |
4.722 |
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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 |
35.056 |
26.550 |
25.714 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
34.678 |
26.144 |
25.369 |
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Advertising Expenses |
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TOTAL |
34.678 |
26.144 |
25.369 |
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PROFIT / (LOSS)
BEFORE TAX |
0.378 |
0.406 |
0.345 |
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Less |
TAX |
0.122 |
0.139 |
NA |
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PROFIT / (LOSS)
AFTER TAX |
0.256 |
0.267 |
NA |
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Earnings /
(Loss) Per Share (Rs.) |
25.72 |
26.82 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.73
|
1.00 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.64
|
3.85 |
4.91 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.44 |
0.50 |
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Debt Equity Ratio (Total Liability/Networth) |
|
11.17
|
10.46 |
9.11 |
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Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.49 |
2.08 |
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 |
No |
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9) Name of person contacted |
No |
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10) Designation of contact person |
No |
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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 |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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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 involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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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 |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
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31) PAN
of Proprietor/Partner/Director, if available |
No |
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32) Date
of Birth of Proprietor/Partner/Director, if available |
No |
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33) Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
No |
OPERATIONS:
The company has completed the Tenth year of
operation under the new management and effectively concentrated on Rubber products
as well as existing plastic bags business. As such, the company is able to
increase the profit for the year. The company is free from the accumulated
losses and very soon will be creating reserves. The company had introduced the
cost sheets and installed the internal control system etc. to control on
optimization of available resources in the company.
The company had tried its level best to
introduce the new varieties and succeeded in getting the good orders in current
year. As such the company is hopeful to increase the turnover for the next year
by 15%.
FIXED ASSETS:
·
Dies and Tools
·
Land and Factory Building
·
Plant and Machinery
·
D.G. Set
·
Air Conditioner
·
Computer and Lap Top
·
Furniture and Fixture
·
Mobile
·
Motor Car
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.55.64 |
|
|
1 |
Rs.87.31 |
|
Euro |
1 |
Rs.68.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.