MIRA
INFORM REPORT
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Report Date : |
04.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ALIGN COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
135, Kuber, 1st Floor, Opposite SAB T. V., New Link Road,
Andheri (West), Mumbai – 400053, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.05.1998 |
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Com. Reg. No.: |
11-165234 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.200 Millions |
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CIN No.: [Company Identification
No.] |
U34300MH1998PTC165234 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Corrugated Boxes, Rolls and Sheets |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. The
company has achieved better growth in its sales during 2011. Trade relations are reported as fair. Business is active. Payments
terms are usually correct. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
INDIAN ECONOMIC OVERVIEW
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Source
: CIA |
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 : |
135, Kuber, 1st Floor, Opposite SAB T. V., New Link Road,
Andheri (West), Mumbai – 400053, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9850555060 (Mr. Vaibhav Kulkarni) (Marketing Head) |
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Fax No.: |
Not Available |
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E-Mail : |
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Head Office : |
C – 5/8, Shendra MIDC, Five Star Industrial Area, Aurangabad,
Maharashtra, India |
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Factory : |
Plot No. D 278/279, MIDC, Shirur, Pune – 412216, Maharashtra, India |
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Tel. No.: |
91-2137-670309 |
DIRECTORS
As on: 20.09.2011
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Name : |
Mr. Narendra Uttamchand Khivansara |
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Designation : |
Managing director |
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Address : |
Plot No. 169, N-1, Sector B, SIDCO, Aurangabad – 431213, Maharashtra, India |
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Date of Appointment : |
08.02.2010 |
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DIN No.: |
00076437 |
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Other Directorship :
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Name : |
Mr. Kishore Uttamchand Khivansara |
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Designation : |
Director |
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Address : |
Plot No. 169, Sector B, CIDCO N-1, Aurangabad – 431213, Maharashtra, India |
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Date of Appointment : |
25.08.2000 |
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DIN No.: |
01605144 |
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Name : |
Mr. Nikhil Narendra Khivansara |
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Designation : |
Director |
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Address : |
PL.No.169, Sector-B,N-1, CIDCO, Aurangabad-431003, Maharashtra, India |
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Date of Appointment : |
30.09.2009 |
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DIN No.: |
02380712 |
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Name : |
Mr. Darshan Subhash Khivansara |
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Designation : |
Director |
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Address : |
502, T 34 Brooklyn Hills Lokhandwala, Andheri, West, Mumbai-400053, Maharashtra, India |
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Date of Appointment : |
30.09.2000 |
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DIN No.: |
02410095 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 20.09.2011
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Names of Shareholders |
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No. of Shares |
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Narendra Uttamchand Khivansara |
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185000 |
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Kishore Uttamchand Khivansara |
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40000 |
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Narendra D Khivansara (HUF) |
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90000 |
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Kishore Uttamchand Khivansara (HUF) |
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500 |
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Kiran Kishore Khivansara |
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500 |
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Uttamchand D Khivansra (HUF) |
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500 |
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Subash U Khivansara |
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500 |
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Kamlabai U Khivansara |
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500 |
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Subash U Khivansara (HUF) |
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500 |
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Nikhil Narendra Khivansara |
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1000 |
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Darshan Subhash Khivansara |
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1000 |
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Total |
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320000 |
Equity Share Break up (Percentage of Total Equity)
As on: 20.09.2011
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Category |
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Percentage |
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Bodies corporate |
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29.00 |
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Directors or relatives of directors |
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71.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Corrugated Boxes, Rolls and Sheets |
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Products : |
·
Corrugated Boxes, Rolls and Sheets ·
Sheet Metal Works
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· Indian Overseas Bank, Jalna Road, Aurangabad Branch, Aurangabad - 431001, Maharashtra, India · State Bank of India Ranjangaon, India · HDFC Bank Limited, Aurangabad, Maharashtra, India · ICICI Bank Limited, Pune, Maharashtra, India · HSBC Bank · Axis Bank, Aurangabad, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mahendra Singhi and Company Chartered Accountants |
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Address : |
29-30, Mona Shopping Centre, Dadabhai Road, Near Navrang Cinema,
Andheri (West), Mumbai – 400058, Maharashtra, India |
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PAN No.: |
AAKPS9122P |
CAPITAL STRUCTURE
As on: 20.09.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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320000 |
Equity Shares |
Rs.10/- each |
Rs. 3.200
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
3.200 |
3.200 |
3.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
70.381 |
45.368 |
22.797 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
73.581 |
48.568 |
25.997 |
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LOAN FUNDS |
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1] Secured Loans |
156.621 |
62.012 |
64.848 |
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2] Unsecured Loans |
53.956 |
33.960 |
30.715 |
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TOTAL BORROWING |
210.577 |
95.972 |
95.563 |
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DEFERRED TAX LIABILITIES |
4.901 |
4.472 |
4.153 |
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TOTAL |
289.059 |
149.012 |
125.713 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
98.263 |
72.004 |
61.261 |
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Capital work-in-progress |
86.516 |
0.000 |
0.000 |
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INVESTMENT |
12.972 |
17.622 |
0.920 |
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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 |
64.806
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30.115 |
22.467 |
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Sundry Debtors |
111.738
|
82.846 |
70.007 |
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Cash & Bank Balances |
1.787
|
3.272 |
4.232 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
40.496
|
6.933 |
16.971 |
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Total
Current Assets |
218.827
|
123.166 |
113.677 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
124.079
|
58.182 |
45.267 |
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Other Current Liabilities |
3.835
|
3.306 |
3.183 |
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Provisions |
3.006
|
2.292 |
1.695 |
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Total
Current Liabilities |
130.920
|
63.780 |
50.145 |
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Net Current Assets |
87.907
|
59.386 |
63.532 |
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MISCELLANEOUS EXPENSES |
3.401 |
0.000 |
0.000 |
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TOTAL |
289.059 |
149.012 |
125.713 |
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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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Turnover |
843.691 |
529.316 |
445.904 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT BEFORE
TAX |
37.502 |
34.022 |
17.144 |
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Less |
TAX |
12.490 |
11.451 |
6.895 |
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PROFIT AFTER TAX |
25.013 |
22.571 |
10.249 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
45.368 |
22.797 |
12.547 |
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BALANCE CARRIED
TO THE B/S |
70.381 |
45.368 |
22.796 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
0.000 |
0.000 |
0.000 |
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TOTAL EARNINGS |
0.000 |
0.000 |
0.000 |
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Earnings Per
Share (Rs.) |
78.16 |
70.53 |
32.03 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
4.44 |
6.43 |
3.85 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.83 |
17.43 |
9.80 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.51 |
0.70 |
0.66 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.64 |
3.29 |
5.61 |
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Current Ratio (Current Asset/Current Liability) |
|
1.67 |
1.93 |
2.27 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
|
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 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from 73 Link Roadlajpat Nagar III, Delhi – 110024, Delhi, India to present address w.e.f. 03.10.2006
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U34300MH1998PTC165234 |
|
Name of the
company |
ALIGN COMPONENTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
135, Kuber, 1st Floor, Opposite
SAB T. V., New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10117910 |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
Indian Overseas Bank Aurangabad Branch, Opposite St Francis School, Jalna Road, Aurangabad - 431001, Maharashtra, India |
|
Nature of
instrument creating charge |
Letter of hypothecation |
|
Date of
instrument Creating the charge |
08.04.2011 |
|
Amount secured by
the charge |
Rs. 318.300 Millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
Rate of interest Cash Credit, Term Loan I, III. IV, V - base rate + 3.00 % i.e. 12.50 % at present Term Loan II - base rate + 3.25 % i.e. 12.75 % at present LC (I/F) and lcf one time - applicable charges as per circular Terms of repayment For existing Term Loan I - 36 monthly installments of Rs.0.765 Millions For Term Loan II - 60 monthly installments of Rs. 0.455 Millions For Term Loan III - 59 monthly installments of Rs. 0.192 Millions and last installment of Rs. 0.172 Millions For term loan IV - 49 monthly installments of Rs. 1.296 Millions and last installment of Rs.1.496 Millions For term loan V - 36 monthly installments of Rs. 0.833 Millions. Margin Cash Credit - Stock 25 % Term Loan I - 28% Term Loan II and III - 34.35% Term Loan IV and V - 34.48 % LCF One Time - 15.71 % Letter of Credit (I/F) - As Per Agreement Extent and
operation of the charge This charge will be operative till the entire amount of loan along with the interest, expenses, charges, commission are repaid by the company |
|
Short particulars
of the property or assets charged (including complete address and location of
the property) |
Stock of corrugated boxes, card board, semi finished goods and raw material, book debts, existing and future machineries and other moveable current assets of the company |
|
Particulars of the present modification |
Existing charge of Rs. 152.800 Millions (consists of cash credit Rs. 60.000 Millions, term loan 1 Rs. 27.500 Millions, term loan 2 Rs. 27.300 Millions, term loan 3 Rs.11.500 Millions, one time letter of credit (f) Rs. 11.500 Millions, letter of credit (i/f) Rs. 15.000 Millions) now modified/enhanced to Rs. 318.300 Millions (consists of cash credit Rs. 115.000 Millions, term loan 1 Rs. 4.500 Millions, term loan 2 Rs. 27.300 Millions, term loan 3 Rs. 11.500 Millions, term loan 4 Rs. 65.000 Millions, term loan 5 Rs. 30.000 Millions, letter of credit (i/f) Rs.30.000 Millions, one time (lcf) Rs. 35.000 Millions) |
OPERATIONS
During the financial year 2010-2011, the company could achieve
turnover of Rs. 843.691 Millions against Rs. 529.316 Millions for the year
ended 31st march, 2010.
FIXED ASSETS
· Leasehold Land
· Site Development
· Factory Building
· Plant and Machinery
· Electric Installation
· Boiler
· Computers
· Motor Cars
· Furniture and Fixtures
· 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 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. 54.56 |
|
|
1 |
Rs. 87.46 |
|
Euro |
1 |
Rs. 71.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
45 |
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.