MIRA
INFORM REPORT
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Report Date : |
17.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALANO MOTORS PRIVATE LIMITED (w.e.f. 08.02.2010) |
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Formerly Known
As : |
ALANO MECMOTO PRIVATE LIMITED |
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Registered
Office : |
303-11-C, Anita Nagar, Lokhandwala Township, Akruli Road, Kandivali (East), Mumbai – 400101, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
14.03.2008 |
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Com. Reg. No.: |
11-180106 |
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Capital
Investment / Paid-up Capital : |
Rs.4.525 Millions |
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CIN No.: [Company Identification
No.] |
U74999MH2008PTC180106 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMA36486C |
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PAN No.: [Permanent Account No.] |
AAGCA9348A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Industrial Sweeping Machines. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 17000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There appear
accumulated losses recorded by the company. However, trade relations are
reported to be fair. Business is active. Payments are slow but correct. The company can be considered for business dealing with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. Shridhar Janardana Rao |
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Designation : |
Director |
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Contact No.: |
91-9987189151 |
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Date : |
14.07.2012 |
LOCATIONS
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Registered Office : |
303-11-C, Anita Nagar, Lokhandwala Township, Akruli Road, Kandivali
(East), Mumbai – 400101, Maharashtra, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9987189151 (Mr. Shridhar Janardana Rao) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
600 Sq. ft. |
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Location : |
Owned |
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Factory : |
No.: 11, V. K. Industrial Estate, New K. T. Industrial Park No.: 2, Waliv, Vasai (East), District: Thane -401208, Maharashtra, India |
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Tel. No.: |
91-250-3244739 |
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Fax No.: |
91-250-2450092 |
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Area : |
4000 Sq. ft. |
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Location : |
Leased |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jayanthi Jayachandra Rao |
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Designation : |
Director |
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Address : |
303-11-C, Anita Nagar, Lokhandwala Township, Akruli Road,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
17.06.1964 |
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Date of Appointment : |
14.03.2008 |
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DIN No.: |
02003854 |
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Name : |
Ms. Sujatha Sukumara Sujatha Sukumara Rao |
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Designation : |
Director |
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Address : |
Door No.-3, 6(7), Opposite Adyar post Manglore Taluk, Mangalore – 575007,
Karnataka, India |
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Date of Birth/Age : |
12.06.1964 |
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Date of Appointment : |
14.03.2008 |
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DIN No.: |
02031389 |
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Name : |
Mr. Shridhar Janardana Rao |
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Designation : |
Director |
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Address : |
Door No.2-12-1077-1, Bejai, New Road, Mangalore – 575004, Karnataka,
India |
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Date of Birth/Age : |
28.09.1968 |
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Date of Appointment : |
16.01.2010 |
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DIN No.: |
02893998 |
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Name : |
Mr. Jayachandra Kelangina Valanka Rao |
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Designation : |
Director |
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Address : |
303-11-C, Anita Nagar, Lokhandwala Township, Akruli Road,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
28.01.1961 |
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Date of Appointment : |
01.06.2010 |
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DIN No.: |
03153611 |
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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Jayanthi Jayachandra Rao |
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12500 |
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Sujatha Sukumara Sujatha Sukumara Rao |
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20000 |
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Shridhar Janardana Rao |
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181000 |
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Jayachandra Kelangina Valanka Rao |
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239000 |
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Total |
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452500 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Industrial Sweeping Machines. |
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Products : |
· alano-640 with sweeper A1300S · alano-640 with Trailer 4W780 · alano-640 with Front End Loader 253 ·
alano-640 |
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Exports : |
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Products : |
Industrial Sweeping Machines |
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Countries : |
African Country |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Dubai |
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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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Suppliers : |
· Aishwarya Trading Corporation · Ashok Raj Industries · Ad-Spot Digital Media · ASAPP Media Private Limited · Chitra Fibres · Capricorn Motors Private Limited · D K Shetty · Gajanan Steel and Company · Gaykar Tempo Service · Ha-Ko Enterprise · Harness Technique India Private Limited ( ELC-03-0S-V) · Genesis Technologies (HYD-04-09-V) · Industrial Air Systems (GEN-05-09-V) · Inter Ad Exhibitions India Private Limited · Janta Auto Corporation ·
Kalsi Engg Company ·
Kapson India ·
K.V.G. Aithal ·
L.A: Concepts ·
Line Pens Limited |
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Customers : |
End Users · Akash Enterprise · Asia Motorworks Limited · A.V.Motors · Daman Hospitality Private Limited · First Carbon Technologies Private Limited · Infosys Technologies Limited · ITD Cementation India Limited · Krystal Integrated Services Private Limited · Lodha Facilities Management Limited - Kanjurmarg · Lodha Facilities Management Limited - Mahalaxmi · Radiant Hospitality Service Private Limited · Tenon Property Services Private Limited · Vision Associates |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
Syndicate Bank, Sandhu Mahal,Diwan Man, Vasai Road (W),
District Thane, Vasai - 401202, 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 : |
K.V.G. Aithal and Associates Chartered Accountants |
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Address : |
Plot No 17, Upasana Azad Nagar CHSL, Road No. 1, JVPD Scheme, Mumbai – 400056, Maharashtra, India |
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PAN.: |
AABPA6775F |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
452500 |
Equity Shares |
Rs.10/- each |
Rs.4.525
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 |
4.525 |
0.325 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.225 |
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3] Reserves & Surplus |
1.090 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(1.143) |
(2.177) |
(0.709) |
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NETWORTH |
4.472 |
(1.852) |
(0.384) |
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LOAN FUNDS |
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1] Secured Loans |
5.524 |
1.377 |
1.330 |
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2] Unsecured Loans |
1.278 |
4.359 |
1.875 |
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TOTAL BORROWING |
6.802 |
5.736 |
3.205 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.002 |
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TOTAL |
11.274 |
3.884 |
2.823 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.340 |
0.694 |
0.208 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.065 |
0.000 |
0.000 |
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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 |
7.004
|
2.145 |
1.711 |
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Sundry Debtors |
3.546
|
0.139 |
0.076 |
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Cash & Bank Balances |
0.116
|
0.114 |
0.021 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.304
|
0.583 |
0.221 |
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Total
Current Assets |
10.970
|
2.981 |
2.029 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.162
|
0.388 |
0.050 |
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Other Current Liabilities |
0.010
|
0.000 |
0.000 |
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Provisions |
0.443
|
0.122 |
0.042 |
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Total
Current Liabilities |
1.615
|
0.510 |
0.092 |
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Net Current Assets |
9.355
|
2.471 |
1.937 |
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MISCELLANEOUS EXPENSES |
0.514 |
0.719 |
0.678 |
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TOTAL |
11.274 |
3.884 |
2.823 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
|
1.529 |
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Other Income |
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TOTAL |
|
10.774 |
1.529 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
|
9.740 |
2.999 |
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Advertising Expenses |
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TOTAL |
|
9.740 |
2.999 |
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PROFIT / (LOSS)
BEFORE TAX (E-F) |
|
1.034 |
(1.470) |
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Less |
TAX |
|
0.000 |
(0.002) |
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PROFIT / (LOSS)
AFTER TAX (G-H) |
|
1.034 |
(1.468) |
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Earnings /
(LOSS) Per Share (Rs.) |
|
20.08 |
(146.77) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
9.60
|
(96.01) |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.40
|
(40.00) |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.79 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.88
|
(3.37) |
(8.59) |
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Current Ratio (Current Asset/Current Liability) |
|
6.79
|
5.85 |
22.05 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 two years |
Yes |
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12) Profitability for last two years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
Yes |
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18) Major customers |
Yes |
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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 of the company has been shifted from
No.: 11, V. K. Industrial Estate, New K. T. Industrial Park No.: 2, Waliv,
Vasai (East), District: Thane -401208, Maharashtra, India to present address
w.e.f.15.02.2011
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74999MH2008PTC180106 |
|
Name of the
company |
ALANO MOTORS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
303-11-C, Anita Nagar, Lokhandwala Township, Akruli Road, Kandivali (East), Mumbai – 400101, Maharashtra |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) ·
Others (Stock, Plant and Machinery and Receivables
etc.) |
|
Particular of
charge holder |
Syndicate Bank, Sandhu Mahal,Diwan Man, Vasai Road (W), District Thane, Vasai - 401202, Maharashtra, India |
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement dated 29th September, 2010. SOD Rs. 6.000
Millions |
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Date of
instrument Creating the charge |
29.09.2010 |
|
Amount secured by
the charge |
Rs.6.000 Millions
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Interest rate
11.50% p.a being 3% over and above PLR/PTLR. Terms of Repayment Tenable till 30th
September, 2011. Margin 25% by operation
of account upto the limit/drawing power fixed. Extent and Operation of the charge The Bank shall
have first charge on all the assets secured. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Stock situated at
7, Richa Industrial Estate, New K.T Industrial Park, Valive, Vasai (East).
Plant and Machinery present and future and Book Debts (Receivables). |
Fixed Assets
· Printer
· Computer
· Electric Fitting
· Furniture and Fittings
· Machinery
· Car
· LCD TV
· Mobile Phone
· Telephone
· Factory Equipment
· Aqua(Water Pyorifire)
· Dies and Tools
· Finger Printer Scanner
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.54.92 |
|
|
1 |
Rs.85.47 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.