|
Report Date : |
26.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMOTO ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
B-23, Nadkishore Industrial Estate, Off. |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
07.08.1995 |
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Com. Reg. No.: |
11-091512 |
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Capital
Investment / Paid-up Capital : |
Rs.1.033 Millions |
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CIN No.: [Company Identification
No.] |
U99999MH1995PTC091512 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20735B |
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PAN No.: [Permanent Account No.] |
AAACA4595M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Industrial Humidifiers/ Atomizers. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 20000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a Small company is its fields. Its scale of activities are
limited. Trade relations are reported to be fair. Business is active. Payments are reported to
be 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
B-23, Nadkishore Industrial Estate, Off. Mahakali Caves Road, Andheri
(East), Mumbai - 400 093, India |
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Tel. No.: |
91-22-26871177/66926020 |
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Fax No.: |
91-22-26870709 |
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E-Mail : |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Firoz Afsar Ali |
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Designation : |
Director |
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Address : |
603/B, Pioneer Hertiage Resedency II, Daulat Nagar, SV Road, Santacruz
(West), Mumbai – 400054, Maharashtra, India |
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Date of Appointment : |
02.04.2009 |
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DIN No.: |
00309343 |
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Other
Directorship:
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Name : |
Mr. Taher Ali |
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Designation : |
Director |
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Address : |
401, Rajngar CHS Limited, SV Road, Jogeshwari (West), Mumbai – 400102,
Maharashtra, India |
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Date of Appointment : |
03.04.2000 |
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DIN No.: |
00193003 |
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Other
Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Taher Ali |
|
56815 |
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Shaheen Ali |
|
10330 |
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Firoz Ali |
|
36155 |
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Total |
|
103300 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Industrial Humidifiers/ Atomizers. |
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Products : |
Item Code No.: |
Product Description: |
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8478.19 |
Humidifiers |
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8448.10 |
Texocleaner and Rollex |
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|
8479.19 |
Spares for Humidex ETC |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
HDFC Bank Limited ·
Allahabad Bank · Citi Bank Limited |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vidyadhar and Company Chartered Accountants |
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Address : |
133 Citi Mall, Off Link Road, Andheri (West), Mumbai – 400053,
Maharashtra, India |
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Tel. No.: |
91-22-67424539 |
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E-Mail : |
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PAN.: |
AAIFV1463A |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
103300 |
Equity Shares |
Rs.10/- each |
Rs.1.033
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
|
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1] Share Capital |
1.033 |
1.033 |
1.033 |
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2] Share Application Money |
0.573 |
0.573 |
0.573 |
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3] Reserves & Surplus |
3.597 |
2.905 |
2.414 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.203 |
4.511 |
4.020 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.033 |
0.400 |
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2] Unsecured Loans |
3.556 |
3.742 |
4.207 |
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TOTAL BORROWING |
3.556 |
3.775 |
4.607 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.759 |
8.286 |
8.627 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.368 |
2.790 |
3.318 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.621 |
2.408 |
1.608 |
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DEFERREX TAX ASSETS |
0.315 |
0.312 |
0.290 |
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
0.779
|
0.355 |
1.009 |
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Sundry Debtors |
1.802
|
1.735 |
2.815 |
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Cash & Bank Balances |
0.949
|
0.666 |
0.466 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
1.465
|
1.802 |
1.717 |
|
Total
Current Assets |
4.995
|
4.558 |
6.007 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
2.314
|
1.746 |
2.112 |
|
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Other Current Liabilities |
0.123
|
0.014 |
0.382 |
|
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Provisions |
0.103
|
0.043 |
0.143 |
|
Total
Current Liabilities |
2.540
|
1.803 |
2.637 |
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Net Current Assets |
2.455
|
2.755 |
3.370 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.021 |
0.041 |
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TOTAL |
8.759 |
8.286 |
8.627 |
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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 |
15.135 |
12.736 |
14.043 |
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Other Income |
0.071 |
0.093 |
0.045 |
|
|
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TOTAL (A) |
15.206 |
12.829 |
14.088 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material And Components Consumed |
8.464 |
6.311 |
6.809 |
|
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Employee Expenses |
2.513 |
1.863 |
1.521 |
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|
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Manufacturing and Other Operating Expenses |
1.782 |
1.854 |
2.943 |
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|
|
Selling Expenses |
0.911 |
0.665 |
1.519 |
|
|
|
Increase / ( Decrease) in Finished and WIP Stock |
0.017 |
0.766 |
(0.227) |
|
|
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TOTAL (B) |
13.687 |
11.459 |
12.565 |
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|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.519 |
1.370 |
1.523 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.011 |
0.041 |
0.107 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.508 |
1.329 |
1.416 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.514 |
0.629 |
0.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.994 |
0.700 |
0.623 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.303 |
0.209 |
0.319 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.691 |
0.491 |
0.304 |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.522 |
1.597 |
1.583 |
|
|
TOTAL EARNINGS |
0.522 |
1.597 |
1.583 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
0.00 |
0.000 |
0.062 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.71 |
4.76 |
2.95 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.54
|
3.83 |
2.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.57
|
5.50 |
4.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.90
|
15.36 |
10.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.17
|
1.24 |
1.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.97
|
2.53 |
2.28 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
Note: Registered office of the company has been
shifted from A/5, Nandkishore Industrial Estate, Mahakali Caves Road, Andheri (East),
Mumbai – 400093, Maharashtra to the present address.
ECONOMY
PERSPECTIVE, FUTURE OUTLOOK AND FINANCIAL RESULTS
SOCIO
ECONOMIC ENVIRONMENT
The road to recovery from the great recession
is proving to be long, winding and rocky. After a year of fragile and uneven
recovery, growth of the world economy started to decelerate on a broad front in
mid 2010. The slowdown is expected to continue in 2011 and 2012. The outlook is
shrouded in great uncertainty and serious downside risk remains globally. The
United Nations baseline forecast for the growth world gross product (WGP) is
3.1% for 2011 and 3.5% for 2012, which is below the 3.6% estimated for 2010 and
the pre-crisis pace of global growth. Better outcomes may be expected only
through strengthened international policy coordination.
The developing countries continue to drive
the global recovery, but their out put growth is also expected to moderate to
6.0% on an average during 2011-12, down from 7.1% in 2010. Developing Asia, led
by China and India, continues to show the strongest growth performance, but GDP
growth in these two new economic giants is expected to experience some moderation
in 2011 and 2012. Growth in Latin America, particularly, that in the South
American economies, is projected to remain relatively robust at about 4.1% in
the base line forecast.
India is rated today as one of the most attractive
investment destination across the globe. As per International Monetary Fund
(IMF), the Indian economy is projected to expand by 8.2% in 2011, unchanged
from its growth forecast made in April. However, this is much lower than 10.4%
growth witnessed in 2010. Inflation and hike in input costs have played a major
role in striking the GDP. The multilateral lender's latest projection comes at
a time when the country is grappling with uncomfortably high inflation that
threatens to derail its growth story. Inflation in India, which is the second
fastest economy after China, crossed 9.0% mark in May. IMF expects India to
expand at a much slower pace at 7.8% in 2012, according to the world economic
outlook report. The multilateral lender had earlier in April estimated that the
Indian economy will expand by 8.2% and 7.8% in 2011 and 2012, respectively.
As per India Brand Equity Foundation (IBEF),
the overall growth index of Industrial Production (IIP) during 2010-2011 was
about 7.8%. The six core industries comprising of crude oil, petroleum refinery
products, coal, electricity, cement and finished carbon steel and which
accounts for nearly 27% of the total, grew by 5.7% as compared to 5.4% in the
previous year. The domestic environment is conducive for growth and private
final consumption expenditure is projected to grow by healthy 7.5% and gross
fixed capital formation by 14.6%. On the back of such facts, India's GDP is
projected to continue to grow at a brisk pace of 8.8% in 2011-2012.
FUTURE OUTLOOK
India is in the eye of global attention and
earmarked to be a superpower of tomorrow. In spite of inflationary trends and
rising interest rates, industry reports speak of a boom time ahead. However,
the company is cautious as the recent trends have not been favourable and the
company needs to exercise cost cutting measures as there is cut throat
competition and the revenues could be affected. In spite of all the odds, the
management is garnering all resources and the current year’s revenues are
expected to remain the same as that of the previous year, if not on a higher
side.
EXPORTS
Exports during the year were at Rs.0.522 Million as against
Rs.1.597 Millions- in the Previous Year.
FIXED ASSETS
·
Factory Premise
·
Plant and Machinery
·
Patterns
·
Dies and Moulds
·
Office Equipments
·
Computers
·
Electric
Installation
·
Furniture
·
Motor Vehicle
·
Air Conditioner
·
Mobile Phone
·
Cycle
AS PER WEBSITE DETAILS
COMPANY
Subject is An ISO 9001:2000 Certified Mumbai based Indian company, manufacturing and marketing world class °HUMIDEX¡± and ¡°SUSPENDEX¡± Series of Humidifiers/Atomizers and Cleaning Gadgets. The organization has made the phenomenal progress in a span of 10 years with the help of its motivated and efficient employees under the guidance of perfect leadership.
AMOTO, Initially
started 23 years ago with the manufacturing of industrial
humidifiers/Atomizers, which proved to be the biggest breakthrough in Air Humidification
field being most energy efficient equipment available. At present Amoto is manufacturing different models and capacities of
Humidifiers/Atomizers. Due to consistency in quality and committed delivery
schedules, products manufactured by Amoto are patronized not only in India but in various
countries also, all over the world.
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.56.38 |
|
|
1 |
Rs.87.44 |
|
Euro |
1 |
Rs.68.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
NO |
|
--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.