|
Report Date : |
21.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
AANGEE COLOURANT PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
D/49, Vivekanand Industrial Estate, Rakhial Char Rasta, Rakhial,
Ahmedabad – 380021, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.11.2008 |
|
|
|
|
Com. Reg. No.: |
04-055450 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220GJ2008PTC055450 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA09774C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA4255D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Colour Master Batches, Colour Packets
Solvent Dyes etc. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company in it field. Its scale of activities are limited.
Trade relations are reported to be fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Pranav Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9825133776 |
|
Date : |
20.08.2012 |
LOCATIONS
|
Registered Office/ Factory 1 : |
D/49, Vivekanand Industrial Estate, Rakhial Char Rasta, Rakhial,
Ahmedabad – 380021, Gujarat, India |
|
Tel. No.: |
91-79-22770315/ 22779669 |
|
Mobile No.: |
91-9825133776 (Mr. Pranav Shah) |
|
Fax No.: |
91-79-22770315 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1800 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
S-50, Siddhi Vinayak Industrial Estate, New Cotton Mill Compound,
Amaraiwadi, Ahmedabad – 380026, Gujarat, India |
|
Tel. No.: |
91-79-22770315/ 65248381 |
|
Fax No.: |
91-79-22770315 |
|
Area : |
3000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
(AS ON 15.09.2011)
|
Name : |
Mr. Pranavkumar Kumarpal Shah |
|
Designation : |
Director |
|
Address : |
C-2, Ghanshyam Parkl, Bhattha, Paldi, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
15.12.1976 |
|
Date of Appointment : |
18.11.2008 |
|
DIN No.: |
02362649 |
|
|
|
|
Name : |
Mr. Hetal Chinubhai Jhaveri |
|
Designation : |
Director |
|
Address : |
401, Swastik Appartmenbt, Vasana, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
17.10.1976 |
|
Date of Appointment : |
18.11.2008 |
|
DIN No.: |
02361986 |
|
|
|
|
Name : |
Mr. Hirenkumar Manharlal Vora |
|
Designation : |
Director |
|
Address : |
B/702, Ekta Avenue, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
04.03.1974 |
|
Date of Appointment : |
18.11.2008 |
|
DIN No.: |
02362583 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 15.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Hetal Chinubhai Jhaveri |
|
3400 |
|
Hirenkumar Manharlal Vora |
|
3300 |
|
Pranavkumar Kumarpal Shah |
|
3300 |
|
|
|
|
|
Total |
|
10000 |
(AS ON 15.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Colour Master Batches, Colour Packets
Solvent Dyes etc. |
|
|
|
|
Exports : |
|
|
Products : |
· Colour Master Batches · Colour Packets Solvent Dyes etc. |
|
Countries : |
· African Country · Middle east · Europe · Gulf Country · Russia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Pavadih Chemical India |
|
|
|
|
Customers : |
End Users · Universal Colourant Company |
|
|
|
|
No. of Employees : |
40 (Approximately) |
|
|
|
|
Bankers : |
· Central Bank of India Mithakhali Branch, Sardar Patel Nagar Road, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
|
|
|
|
Facilities : |
Cash Credit = Rs.2.500 Millions and TL = Rs.2.400 Millions |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dipesh Chokshi and Company Chartered Accountant |
|
Address : |
912, 9th Floor, Atma House, Opposite Old RBI, Ashram Road,
Ahmedabad - 380009, Gujarat, India |
|
PAN No.: |
AAPPC4435J |
|
|
|
|
Associates/Subsidiaries : |
· Aangee Corporation D/49, Vivekanand Industrial Estate, Rakhial Char Rasta, Rakhial,
Ahmedabad – 380021, Gujarat, India Activity: Manufacturer and Exporter of Colour Master Batches, Colour
Packets Solvent Dyes etc. |
CAPITAL STRUCTURE
(AS ON 15.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.321 |
0.186 |
0.011 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.421 |
0.286 |
0.111 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
3.080 |
1.366 |
0.050 |
|
|
TOTAL BORROWING |
3.080 |
1.366 |
0.050 |
|
|
DEFERRED TAX LIABILITIES |
0.005 |
0.002 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.506 |
1.654 |
0.161 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.193 |
0.060 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.179
|
1.287 |
0.400 |
|
|
Sundry Debtors |
1.809
|
2.190 |
0.392 |
|
|
Cash & Bank Balances |
0.669
|
0.659 |
0.020 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.534
|
0.700 |
0.113 |
|
Total
Current Assets |
6.191
|
4.836 |
0.925 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
2.529
|
3.105 |
0.770 |
|
|
Other Current Liabilities |
0.290
|
0.075 |
0.000 |
|
|
Provisions |
0.064
|
0.070 |
0.005 |
|
Total
Current Liabilities |
2.883
|
3.250 |
0.775 |
|
|
Net Current Assets |
3.308
|
1.586 |
0.150 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.005 |
0.008 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
3.505 |
1.654 |
0.162 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
SALES/ GROSS
RECEIPTS |
10.958 |
11.966 |
1.024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.242 |
0.252 |
0.016 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.029 |
0.005 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.213 |
0.247 |
0.016 |
|
|
|
|
|
|
|
Less |
TAX |
0.078 |
0.072 |
0.005 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.135 |
0.175 |
0.011 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.50 |
-- |
-- |
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
20.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.30.000 Millions
The above information has been parted by Mr. Pranav Shah.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.34
|
5.04 |
1.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.86 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
14.16
|
16.14 |
7.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
1.49 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
TRADE REFERENCE:
· Pavadih Chemical India
· Universal Colourant Company
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U24220GJ2008PTC055450 |
|
Name of the
company |
AANGEE COLOURANT
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
D/49, Vivekanand
Industrial Estate, Rakhial Char Rasta, Rakhial, Ahmedabad – 380023, Gujarat,
India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Central Bank of
India Mithakhali
Branch, Sardar Patel Nagar Road, Ellisbridge, Ahmedabad – 380006, Gujarat,
India |
|
Nature of
description of the instrument creating or modifying the charge |
1) Agreement of
hypothecation to secure demand cash credit against goods of Rs.2.500 Millions
(2) term loan agreement for Rs.2.400 Millions (3) letter of hypothecation
book debts loan to secured the cash credit limit of Rs.2.500 Millions (4) power of attornery in respect of book
debts. |
|
Date of
instrument Creating the charge |
04.10.2011 |
|
Amount secured by
the charge |
Rs.4.900 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit -
Base Rate + 1%, Term Loan - Base Rate + 1.5%. Terms of
Repayment 1) The Term Loan
will be repayable in 60 installments (together with interest) commencing
after 2 months moratorium period to be reckoned from disbursement of entire
term loan interest is to be serviced during the moratorium period. 2) C. C. Limit
Renewable Every Year. Margin Stock and Books
Debts - 25% and Machinery for Term Loan - 25%. Extent and
Operation of the charge Charge to cover
and secured the cash credit limit of Rs.2.500 Millions. Charge to cover
and secured the term loan facility of Rs.2.400 Millions. |
|
Short particulars
of the property charged |
Hypothecation of
Stock of Raw Materials, WIP, Finished Goods, Spares and Book Debts of
company. Hypothecation of
machinery already acquired / to be acquired out of the term loan. EM on Factory
situated at D-49, Vivekanand Industrial Estate, Rakhial Cross Road, Rakhial,
Ahmedabad - 380026 in the name of Mrs. Lisaben Pranavbhai Shah and Rupalben
Hetalbhai Zaveri. |
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 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.55.70 |
|
|
1 |
Rs.87.55 |
|
Euro |
1 |
Rs.68.85 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.