MIRA
INFORM REPORT
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Report Date : |
07.07.2012 |
IDENTIFICATION DETAILS
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Name : |
AUTOMAT INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Plot No.: 18-19, Hind Pocket Book, Near Desu Office, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.01.1998 |
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Com. Reg. No.: |
55- 091781 |
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Capital
Investment / Paid-up Capital : |
Rs.20.192 Millions |
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CIN No.: [Company Identification
No.] |
U29219DL1988PTC091781 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELA13054G / DELA13055A |
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PAN No.: [Permanent Account No.] |
AADCA9313Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Water Guns, Filter Products, Air Release
Valves |
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No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 430000 |
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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 a well established company having satisfactory track. Trade
relations reported as fair. Business is active. Payments terms 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. Vipul |
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Designation : |
National Sales Manager |
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Contact No.: |
91-9818679500 |
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Date : |
06.07.2012 |
LOCATIONS
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Registered Office : |
Plot No.: 18-19, Hind Pocket Book, Near Desu Office, G T Road, Shahdara,
Delhi – 110095, India |
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Tel. No.: |
91-11-22583027 / 22574746 |
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Mobile No.: |
91-9818679500 (Mr. Vipul) |
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Fax No.: |
91-11-43099807 / 22121035 |
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E-Mail : |
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Website : |
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Area : |
30000 Sq. ft |
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Location : |
Owned |
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Head Office : |
182, F.I.E., Patparganj Delhi – 110092, |
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Tel. No.: |
91-11-43036739 / 43036740 / 22583027 / 22574746 / 43099800 / 43099803 |
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Fax No.: |
91-11-43036739 / 43036738 / 43099807 / 22121035 |
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Area : |
24000 |
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Location : |
Sq. ft |
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Branch Offices : |
Block No.4, 5, Sector – 3A, IIE Haridwar, Uttarkhand, India |
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Area : |
1400 Sq. ft |
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Location : |
Owned |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr Prabodh Kumar Jain |
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Designation : |
Director |
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Address : |
D-231, Vivek Vihar, Delhi – 110095, India |
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Date of Appointment : |
29.10.1998 |
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DIN No.: |
00052996 |
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Name : |
Mr. Tushar Jain |
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Designation : |
Director |
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Address : |
D-231, Vivek Vihar, Delhi – 110095, India |
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Date of Appointment : |
29.01.1998 |
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DIN No.: |
00053023 |
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Name : |
Mrs. Ruchi Jain |
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Designation : |
Director |
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Address : |
D-231, Vivek Vihar, Delhi – 110095, India |
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Date of Birth/Age : |
08.11.1973 |
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Date of Appointment : |
01.12.2007 |
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DIN No.: |
00055212 |
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Name : |
Mrs. Nisha Jain |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Vipul |
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Designation : |
National Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
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Names of Shareholders |
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No. of Shares |
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Prabodh Kumar Jain |
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1005100 |
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Tushar Jain |
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295100 |
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Anita Jain |
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110000 |
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Kaveri Jain |
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60000 |
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Madhu Bala Jain |
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20000 |
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Nirmal Jain |
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3000 |
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P K Jain (HUF) |
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82000 |
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Ruchi Jain |
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39940 |
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R. K. Jain |
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44000 |
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Master Adi Jain |
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5000 |
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Master Ananya Jain |
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5000 |
|
Adinath Capital Services Private Limited, India |
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350000 |
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Anna Jain |
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5 |
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Deepali Jain |
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5 |
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Kamlesh Jain |
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5 |
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M. U. Khan |
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5 |
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Sushma Jain |
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5 |
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Rajeev Jain |
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5 |
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Ratan Prakash Jain |
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5 |
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Sandeep Jain |
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5 |
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S. R. Jain |
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5 |
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Y. N. Bhargava |
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5 |
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B. L. Jain |
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5 |
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Sushma Malhotra |
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5 |
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Total |
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2019200 |
As on 31.03.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Bodies corporate |
17.33 |
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Directors or relatives of Directors |
82.67 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Water Guns, Filter Products, Air Release
Valves |
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Products : |
Irrigation
Products:- · Impact sprinklers · Part circle sprinklers · Water guns · Filter products · Air release valves · Pressure release valves · Quick coupling valves · Aluminium accessories · Wheel moves and center pivots · Other products Industrial
Products: · High precision parts and components manufactured on screw machines · Precision components for horological industry and the defense sector · Brass impact sprinklers · Precisely engineered components of up to 10 micron accuracy |
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Exports : |
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Products : |
Water Guns, Filter Products, Air Release Valves |
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Countries : |
·
USA ·
Europe ·
South Africa |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Saudi Arabia |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
Bank of India, Parliament Street Branch, 4 , PTI Building
Sansad Marg, New Delhi - 110001, 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 : |
Prem Gupta and Associates Chartered Accountants |
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Address : |
2, T C Jaina Tower, 1st Floor, Restaurant Opp. Moti Mahal,
New Delhi – 110002, India |
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PAN.: |
AFFPG1555C |
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Sister Concern : |
Automat irrigation Private Limited Address : Plot No.: 18-19,
Hind Pocket Book, Near Desu Office, G T Road, Shahdara, Delhi – 110095, India Line of
Business: Manufacturer and Exporter of Water Guns, Filter Products, Air Release
Valves |
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Enterprises over
which the Management is interested : |
· Smith Engg. Works · Precom Engg. · Unique Diagnostic |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2019200 |
Equity Shares |
Rs.10/- each |
Rs.20.192
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 |
20.192 |
17.692 |
17.692 |
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2] Share Application Money |
7.800 |
9.800 |
9.300 |
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3] Reserves & Surplus |
81.759 |
75.430 |
60.907 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
109.751 |
102.922 |
87.899 |
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LOAN FUNDS |
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1] Secured Loans |
54.564 |
33.487 |
31.861 |
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2] Unsecured Loans |
29.195 |
29.429 |
27.794 |
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TOTAL BORROWING |
83.759 |
62.916 |
59.655 |
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DEFERRED TAX LIABILITIES |
5.834 |
0.000 |
0.000 |
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TOTAL |
199.344 |
165.838 |
147.554 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
48.592 |
39.208 |
29.028 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.286 |
24.210 |
12.480 |
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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 |
65.135
|
39.428
|
24.043 |
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Sundry Debtors |
124.307
|
101.410
|
113.513 |
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Cash & Bank Balances |
1.608
|
1.185
|
0.787 |
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Other Current Assets |
27.293
|
15.373
|
12.121 |
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Loans & Advances |
9.958
|
10.206
|
12.361 |
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Total
Current Assets |
228.301
|
167.602
|
162.825 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
65.796
|
30.681
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Other Current Liabilities |
10.907
|
27.429
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Provisions |
4.132
|
7.076
|
12.292 |
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Total
Current Liabilities |
80.835
|
65.186
|
56.790 |
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Net Current Assets |
147.466
|
102.416
|
106.035 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.004 |
0.009 |
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TOTAL |
199.344 |
165.838 |
147.554 |
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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 |
625.555 |
573.299 |
516.614 |
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Other Income |
33.131 |
9.454 |
5.651 |
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TOTAL (A) |
658.686 |
582.753 |
522.265 |
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Less |
EXPENSES |
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Administrative Expenses |
633.878 |
554.088 |
481.664 |
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Advertising Expenses |
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TOTAL (B) |
633.878 |
554.088 |
481.664 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.808 |
28.665 |
40.601 |
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Less |
FINANCIAL
EXPENSES (D) |
4.574 |
3.838 |
4.134 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.234 |
24.827 |
36.467 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.940 |
3.227 |
2.339 |
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PROFIT BEFORE
TAX (E-F) (G) |
16.294 |
21.600 |
34.128 |
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Less |
TAX (H) |
4.554 |
11.028 |
12.919 |
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PROFIT AFTER TAX
(G-H) (I) |
11.740 |
10.572 |
21.209 |
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Earnings Per
Share (Rs.) |
5.98 |
11.99 |
NA |
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Particulars |
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|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
850.000 |
Expected Sales (2012-13) : Rs.1200.000 Millions
The above information has been parted by Mr. Vipul Jain
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.78
|
1.81 |
4.06 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.60
|
3.77 |
6.61 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.88
|
10.44
|
17.79 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.21
|
0.39 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.50
|
1.24
|
1.32 |
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Current Ratio (Current Asset/Current Liability) |
|
2.82
|
2.57
|
2.86 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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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 |
Yes |
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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 |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
NOTE:
The registered office address of the company has been shifted from 1/421
Lane No-5friends Colony Industrial Area, G T Road Shahdara, Delhi – 110095,
Delhi, India to present w.e.f. 1.12.2007
PERFORMANCE REVIEW
During the year the Company has a turnover of Rs. 625.555 Millions
(Excluding other income) as against previous year's turnover of Rs. 573.239
Millions and also during the year, the company has earned Profit after
Depreciation, interest & tax of Rs 11.740 Millions as against previous
year's Net Profit Rs.10.572 Millions.
The Directors are quite hopeful that the Company shall be able to give
good results in the coming year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29219DL1998PTC091781 |
|
Name of the
company |
AUTOMAT
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 18-19,
Hind Pocket Book, Near Desu Office, |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90055579 |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
Bank of India, Parliament Street Branch, 4 , PTI Building Sansad Marg, New Delhi - 110001, India |
|
Nature of
instrument creating charge |
Fourth
Supplemental Deed of Hypothecation |
|
Date of
instrument Creating the charge |
02.07.2011 |
|
Amount secured by
the charge |
Rs.85.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit - @
2.75% over Base Rate, presently 12.75 % p. a. with monthly rests. EPC / FBP- DP/DA-
90 days / LC / BG : As per Card rates. Terms of Repayment Payable on
demand. Margin As may be prescribed
by the bank from time to time. Extent and Operation of the charge 100 percent. Others The said charge
is hypothecated to secure following credit facilities granted to the
company:- 1.) CC(Stocks
& Book-debts) - Rs.60.000 Millions 2.) EPC up to 180
days - Rs.30.000 Millions 3.) FBP - DP/DA -
90 days - Rs.30.000 Millions Max. (1+2+3) - Rs.60.000 Millions 4.) LC-DP/DA -
180 days - Rs.25.000 Millions
5.) Bank Guarantee -
Rs.250.00 Millions Max. (4+5) - Rs.25.000 Millions Max. (1+2+3+4) - Rs.85.000 Millions |
|
Particulars of
the present modification |
The amount of
charge over the assets of the company as described in column no.15 above, stands
enhanced from Rs.60.000 Millions to Rs.85.000 Millions to secure various
credit facilities on such terms and conditions Other terms and
conditions remained the same. |
Fixed Assets
· Air Conditioners A/C
· Computer A/C
· Cycle & Rickshaw A/C
· Dies & Tools
· Furniture A/C
· Jeep & Car
· Refrigerator
· Office Equipment
· Machinery A/C
· Scooter A/C
· Photocopier Machine
· Type—Writer A/C
· Water Cooler A/C
· Water Purifier A/C
· E.P.A.B. X.
· Fax Machine A/C
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.42 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.