MIRA
INFORM REPORT
|
Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
AISHLONI COPPER ALLOYS PRIVATE LIMITED |
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|
|
|
Registered Office
: |
205/206, Chartered House, Dr. C.H. Street, Marine Lines, Church Lane,
Mumbai – 400002, Maharashtra |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
13.03.2000 |
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Com. Reg. No.: |
124867 |
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Capital
Investment / Paid-up Capital : |
Rs. 39.000 Millions |
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|
|
CIN No.: [Company Identification
No.] |
U72200MH2000PTC124867 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Copper and Copper Alloy Products. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 215964 |
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|
|
|
Status : |
Satisfactory |
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|
|
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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 tersm 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
205/206, Chartered House, Dr. C.H. Street, Marine Lines, Church Lane,
Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-91-22-40226277-78-79 |
|
Fax No.: |
91-22-40226279/22095771 |
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E-Mail : |
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|
Website : |
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Factory 1 : |
Shed No. 9 /10, Rudana Industrial Estate, Rudana Village, Khanvel,
Silvassa – 396 230, U. T. of Dadra and Nagar Haveli |
|
Tel. No.: |
91-260-2677923, 3296934 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sunil R. Mardia |
|
Designation : |
Whole Time Director |
|
Address : |
2B, 1st Floor, Karuna Building, Walkeshwar, Mumbia –
400006, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1965 |
|
Date of Appointment : |
04.09.2009 |
|
|
|
|
Name : |
Mr. Dhruwnarayan Singh |
|
Designation : |
Director |
|
Address : |
D-102, Geeta Nagar, Phase-VIII, Mira Bhayandar Road, Mira Road (East),
Thane – 401107, Maharashtra, India |
|
Date of Birth/Age : |
20.06.1973 |
|
Date of Appointment : |
05.03.2008 |
|
|
|
|
Name : |
Ms. Priti Sunil Mardia |
|
Designation : |
Director |
|
Address : |
2B, 1st Floor, Karuna Building, Walkeshwar, Mumbia –
400006, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1967 |
|
Date of Appointment : |
25.05.2009 |
|
|
|
|
Name : |
Mr. Vinod Gokulchand Kataria |
|
Designation : |
Director |
|
Address : |
Mumbai – 400006, Maharashtra, India |
|
Date of Appointment : |
26.11.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Priti
Mardia |
|
376545 |
|
Nittn Rathod |
|
97500 |
|
Aishwariya Mardia |
|
302250 |
|
Saloni
Mardia |
|
333450 |
|
Mahavir Finvest Private Limited, Mumbai |
|
390 |
|
Janya Extrusion Private Limited, Mumbai |
|
195 |
|
Sarovar
Homes Private Limited, Mumbai |
|
195 |
|
Sunil
R Mardia |
|
370500 |
|
Mahesh
Oza |
|
195 |
|
Dhruw
Narayan Singh |
|
195195 |
|
Shilu
Kumari Singh |
|
195390 |
|
Sarovar
Capital Market Limited, Mumbai |
|
1930695 |
|
Sujata
Rathod |
|
97500 |
|
Total |
|
3900000 |
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
49.53 |
|
Directors or relatives of Directors |
50.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Copper and Copper Alloy Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Bank of Baroda, Vile Parle (east) Branch, Nitin Niwas,
47, M.G. Road, Vile Parle (West), Mumbai – 400057, Maharashtra, India ·
Canara Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
Dangi and Associates |
|
Name : |
Chartered Accountant |
|
Address : |
92/C, Govt. Indl. Estate, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
Tel. No.: |
91-22-28682403 |
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Fax No.: |
91-22-28683787 |
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|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 39.000 Millions |
|
|
Shares Application Money |
|
Rs. 5.000
Millions |
|
|
Total |
|
Rs. 44.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
39.000 |
20.000 |
7.500 |
|
|
2] Share Application Money |
5.000 |
0.000 |
8.585 |
|
|
3] Reserves & Surplus |
9.991 |
19.694 |
12.574 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
53.991 |
39.694 |
28.659 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
94.399 |
75.382 |
27.885 |
|
|
2] Unsecured Loans |
50.598 |
42.245 |
39.180 |
|
|
TOTAL BORROWING |
144.997 |
117.627 |
67.065 |
|
|
DEFERRED TAX LIABILITIES |
0.169 |
1.539 |
1.078 |
|
|
|
|
|
|
|
|
TOTAL |
199.157 |
158.860 |
96.802 |
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|
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APPLICATION OF FUNDS |
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|
|
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|
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|
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|
FIXED ASSETS [Net Block] |
73.965 |
66.490 |
16.659 |
|
|
Capital work-in-progress |
3.093 |
9.645 |
33.262 |
|
|
|
|
|
|
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|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.926
|
26.903 |
12.166 |
|
|
Sundry Debtors |
108.636
|
63.942 |
35.664 |
|
|
Cash & Bank Balances |
5.269
|
1.542 |
8.222 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.959
|
4.341 |
10.671 |
|
Total
Current Assets |
164.790
|
96.728 |
66.723 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.982
|
14.219 |
16.789 |
|
|
Other Current Liabilities |
6.722
|
0.506 |
0.495 |
|
|
Provisions |
2.922
|
2.543 |
2.573 |
|
Total
Current Liabilities |
45.626
|
17.268 |
19.857 |
|
|
Net Current Assets |
119.164
|
79.460 |
46.866 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
2.935 |
3.265 |
0.015 |
|
|
|
|
|
|
|
|
TOTAL |
199.157 |
158.860 |
96.802 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Gross Turnover |
458.825 |
361.684 |
188.524 |
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EXPENSES |
|
|
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|
|
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TOTAL |
NA |
NA |
NA |
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
24.288 |
16.921 |
8.458 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.643 |
6.119 |
3.805 |
|
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|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
13.645 |
10.802 |
4.653 |
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|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.655 |
1.643 |
0.898 |
|
|
|
|
|
|
|
|
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|
PROFIT BEFORE
TAX |
9.990 |
9.159 |
3.755 |
|
|
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|
|
|
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|
Less |
TAX |
(0.473) |
0.870 |
0.923 |
|
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|
|
|
|
|
|
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|
PROFIT AFTER TAX
|
10.463 |
8.289 |
2.832 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.18
|
5.61 |
4.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.23 |
0.13 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
3.53
|
3.39 |
3.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.61
|
5.60 |
3.36 |
LOCAL AGENCY FURTHER INFORMATION
Note – The Registered office address of the company has been shifted from
502, Chartered House, Dr. C H Street, Marine Lines Church Lane, Mumbai – 400
002, Maharashtra, India, to present address w.e.f. 01.04.2008
Form 8
|
Corporate
identity number of the company |
U72200MH2000PTC124867 |
||||||
|
Name of the
company |
AISHLONI COPPER ALLOYS PRIVATE LIMITED |
||||||
|
Address of the
registered office or of the principal place of business in |
205/206, Chartered House, Dr. C.H. Street, Marine Lines, Church Lane,
Mumbai – 400002, Maharashtra, India |
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|
This form is for |
Creation of
charge |
||||||
|
Type of charge |
Book debts Movable property |
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|
Particular of
charge holder |
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||||||
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement (For Stocks/Book
Debts/Vehicles/Movable Machinery). |
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|
Date of instrument
Creating the charge |
29.12.2011 |
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|
Amount secured by
the charge |
Rs. 133.025
Millions |
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|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 3.50% above Base Rate
of the Bank i.e. 14.25% p.a. wth monthly rests - On Cash Credit & Term
Loans. Terms of
Repayment On Demand. Margin 25% on Stocks 30% on Book
Debts. 25% on
Inland/Fgn. LC (DA/DP Extent and
Operation of the charge The charge is created
to secure Cash Credit (Hypn. of Stock & Book Debts) - Rs.80.000 millions,
Term Loan I - Rs.6.230 millions, Term Loan II - Rs.11.795 millions and
Inland/Fgn. LC (DA/DP) - Rs.350 lacs [with sub-limit : Buyer's Credit/Bank
Guarantee - Rs.2.000 millions], aggregating to Rs.133.025 millions together
with interest, further interest, additional interest, penal interest,
commission fees, cost, charges and expenses incurred or to be incurred by the
Bank till date of payment. Others Nil |
||||||
|
Particulars of the
property charged |
Stocks, both
present and future and all stocks of RMls, WIP, SFGs, FGs such as Copper
Pipes, Brass Pipes, etc., packing materials & Stores etc.. All the present
and future book-debts, outstanding, monies receivable, claims, bills, contracts,
engagements and securities, etc.. All the tangible
movable machinery and plant and cranes, boats and crafts and the vehicles
together with spares, tools and accessories and other movables, both present
and future, and the furniture fixtures and fitting
and office equipment whether installed or not and whether lying loose or in
cases at 205-206, Chartered House, Dr. C. H. Street, Marine Lines, Mumbai -
400 002. |
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.49.50 |
|
|
1 |
Rs.77.73 |
|
Euro |
1 |
Rs.65.18 |
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 |
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.