MIRA
INFORM REPORT
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Report Date : |
04.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AADITYA CERAMICS PRIVATE LIMITED |
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Formerly Known
As : |
AADITYA AUTO SALES PRIVATE LIMTED |
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Registered
Office : |
103, Great Easter
Retreat Co-Operative Housing Society Limited, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.06.2003 |
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Com. Reg. No.: |
11-018045 |
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Capital
Investment / Paid-up Capital : |
Rs.1.000 million |
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CIN No.: [Company Identification
No.] |
U50101PN2003PTC018045 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA06926D |
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PAN No.: [Permanent Account No.] |
AAECA9044M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of High Quality Fire Bricks and Refractory Materials. |
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No. of Employees
: |
150 (Approximately) |
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 37000 |
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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. Trade relations are reported as fair.
Business is active. Payments are reported to be usually correct and as per
commitments. 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 – 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. Mihir Ashok Shah |
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Designation : |
Director |
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Contact No.: |
91-9822050501 |
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Date : |
02.01.2012 |
LOCATIONS
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Registered Office : |
103, Great Easter
Retreat Co-Operative Housing Society Limited, |
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Tel. No.: |
91-20-25533561 |
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Mobile No.: |
91-9822050501/ 9373524777 (Mr. Mihir Shah) |
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Fax No.: |
91-22-25534606 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft |
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Location : |
Owned |
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Corporate office : |
102, Anant Chambers, 710, |
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Tel. No.: |
91-20-25533561 |
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Fax No.: |
91-20-25534606 |
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E-Mail : |
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Factory : |
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Tel. No.: |
91-2828-293482 |
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E-Mail : |
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Area : |
3 Acres |
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Location : |
Owned |
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Branch Office : |
Located at: v
Sri Rampur |
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Overseas /Sales Office : |
Aaditya Ceramics
Inc. |
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Tel. No.: |
001-416-391-4323 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ashok Padamshi Shah |
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Designation : |
Director |
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Address : |
Vivekanand Housing Society, Ward No.1, Srirampur, Ahmednagar – 413
709, |
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Date of Birth/Age : |
08.08.1947 |
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Qualification : |
B .E Mechanical |
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Date of Appointment : |
18.06.2003 |
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01369820 |
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Other Directorship :
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Name : |
Mrs. Bharati Ashok Shah |
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Designation : |
Director |
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Address : |
11, Vivekanand Housing Society, Near R.S.M.B Col., Ward No.1,
Srirampur, Ahmednagar – 413 709, |
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Date of Birth/Age : |
23.02.1949 |
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Date of Appointment : |
18.06.2003 |
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DIN No.: |
01369895 |
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Other Directorship :
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Name : |
Mr. Mihir Ashok Shah |
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Designation : |
Director |
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Address : |
Vivekanand Housing Society, Ward No.1, Srirampur, Ahmednagar – 413
709, |
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Date of Birth/Age : |
08.02.1974 |
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Qualification : |
BE Civil |
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Date of Appointment : |
18.06.2003 |
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DIN No.: |
01369929 |
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Other Directorship :
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Name : |
Mrs. Ratna Ankur Shah |
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Designation : |
Director |
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Address : |
H. No.1, Vivekanand Housing Society, Near |
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Date of Birth/Age : |
14.01.1977 |
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Date of Appointment : |
18.06.2003 |
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DIN No.: |
01370002 |
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Other Directorship :
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Name : |
Mr. Ankur Ashok Shah |
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Designation : |
Director |
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Address : |
Swami Vivekanand Housing Society, Shrirampur, Ahmednagar – 413 907, |
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Date of Birth/Age : |
05.03.1978 |
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Qualification : |
BE Mechanical |
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Date of Appointment : |
18.06.2003 |
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DIN No.: |
01370016 |
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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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Ashok Padamshi Shah |
|
13950 |
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Bhartiben Ashok Shah |
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13950 |
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Mihir Ashok Shah |
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13950 |
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Hetal Mihir Shah |
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13950 |
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Ameet Ashok Shah |
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6250 |
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Sonal Ameet Shah |
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10000 |
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Ankur Ashok Shah |
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14000 |
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Ratna Ankur Shah |
|
13950 |
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Total |
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100000 |
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
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Line of Business : |
Manufacturer and Exporter of High Quality Fire Bricks and Refractory Materials. |
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Products : |
v
Boiler Bricks for Chemical Plants v
Burner Blocks v
Hanger Bricks for Steel Rolling Mils v Heating Element Bricks for Electric furnaces |
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Exports : |
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Products : |
Refractory Materials |
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Countries : |
v
v
v
v
UAE v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
·
State Bank of ·
State Bank of · ICICI Bank Limited · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B.S. Mart and Associates Chartered Accountants |
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Address : |
1909/2, Ram Dhwaj Commercial Complex, 732/B, 1st |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFP2146R |
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Parent Company : |
Sai Ceramic Engineers Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.387 |
8.752 |
6.631 |
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3] Reserves & Surplus |
7.796 |
5.869 |
4.500 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.183 |
15.621 |
12.131 |
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LOAN FUNDS |
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1] Secured Loans |
7.204 |
6.297 |
4.923 |
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2] Unsecured Loans |
12.373 |
0.862 |
0.200 |
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TOTAL BORROWING |
19.577 |
7.159 |
5.123 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
28.760 |
22.780 |
17.254 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
18.694 |
9.197 |
10.024 |
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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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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.603
|
7.976 |
2.806 |
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Sundry Debtors |
10.591
|
7.686 |
8.533 |
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Cash & Bank Balances |
0.436
|
1.550 |
0.383 |
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Other Current Assets |
1.113
|
4.802 |
2.216 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
20.743
|
22.014 |
13.938 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.746
|
4.373 |
4.101 |
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Other Current Liabilities & Provisions |
4.931
|
4.058 |
2.612 |
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Total
Current Liabilities |
10.677
|
8.431 |
6.713 |
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Net Current Assets |
10.066
|
13.583 |
7.225 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
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TOTAL |
28.760 |
22.780 |
17.254 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
47.651 |
31.078 |
32.599 |
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Other Income |
0.166 |
0.011 |
0.000 |
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TOTAL |
47.817 |
31.089 |
32.599 |
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Less |
EXPENSES |
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|
43.169 |
27.633 |
29.107 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
43.169 |
27.633 |
29.107 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.648 |
3.456 |
3.492 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.962 |
1.464 |
1.274 |
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PROFIT BEFORE
TAX |
2.686 |
1.992 |
2.218 |
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Less |
TAX |
0.759 |
0.624 |
0.681 |
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PROFIT AFTER TAX
|
1.927 |
1.368 |
1.537 |
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Earnings Per
Share (Rs.) |
19.27 |
13.68 |
15.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.03
|
4.40 |
4.71 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.64
|
6.41 |
6.80 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.81
|
6.38 |
9.26 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.13 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.29
|
1.00 |
0.98 |
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Current Ratio (Current Asset/Current Liability) |
|
1.94
|
2.61 |
2.08 |
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 |
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4) Premises
details |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
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7) Promoter’s
background |
-- |
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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 |
|
11) Turnover of
firm for last two years |
Yes |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
No |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
Yes |
|
17) Major
suppliers |
No |
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18) Major
customers |
No |
|
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 |
No |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
FORM 8:
|
Corporation identity number (CIN) or foreign company registrations number of the company |
U50101PN2003PTC018045 |
|
Name of the company |
AADITYA CERAMICS PRIVATE LIMITED |
|
Address |
103, Great Easter
Retreat Co-Operative Housing Society Limited, |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Immovable property |
|
Particular of the charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
|
Nature or description of the instrument creating charge |
Memorandum recording past transactions of creation of mortgage by Deposit of Title Deeds. |
|
Date of the instrument creating charge |
18.03.2010 |
|
Amount Secure by the charge |
Rs.6.000 Millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest at the rate as may be communicated by the bank form time to time Terms of repayment On Demand Margin : As may be stipulated by the bank from time to time Extent and operation of the charge The company created an equitable mortgage by way of deposit of title deeds in respect of its immovable properties as security for the due repayment of Rs.6.000 Millions by the company, including principal amount of the facility, interest, liquidated damages, costs, charges and expenses etc. |
|
Short particulars
of the property charged |
Industrial Property situated at Revenue Survey No.79/2 of Village Lalpar Taluka Wakaner District Rajkot. |
FIXED ASSETS:
· Land and Land Development
·
· Plant and Machinery
· Electric Installation
· Furniture and Fixtures
· Office Equipments
· Computer Systems
· Laboratory Equipments
· Vehicles
WEBSITE DETAILS:
PROFILE:
Subject came to an existence due to its parent company ‘Sai Ceramic Engineers Private Limited which is basically into marketing and constructing field since last 35 years, serving Indian Industries.
Their parent company takes turnkey base jobs for construction of boilers,
modification of furnace and lining work. They have been doing since decades in
various provinces in
Their manufacturing company is ISO 9001:2000 and is located
in state of
They offer consistent quality product to customer requirement. They supply
their material to all ‘OEM’ manufacturers - steel plants, sugar plant,
fertilizer plant, cement plant, power generation, forging plant etc.
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.53.23 |
|
|
1 |
Rs.82.87 |
|
Euro |
1 |
Rs.69.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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.