MIRA
INFORM REPORT
|
Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMTEK ENERGY AND POWER PRIVATE LIMITED |
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Registered
Office : |
S.C.O. 13-14-15,
3rd Floor, Sector 34-A, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.07.2007 |
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Com. Reg. No.: |
53-030870 |
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Capital
Investment / Paid-up Capital : |
Rs.3.800
millions |
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CIN No.: [Company Identification
No.] |
U31100CH2007PTC030870 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLA12867B |
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PAN No.: [Permanent Account No.] |
AAGCA4107P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing turnkey solutions in HV and EHV. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established
company having satisfactory track. Trade relations are reported as fair.
Business is active. Payments are reported to be usually correct and as per
commitments. The company can
be considered for small to mediocre 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 |
LOCATIONS
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Registered Office : |
S.C.O. 13-14-15,
3rd Floor, Sector 34-A, |
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Tel. No.: |
91-172-2605899, 2612099, 4004123-29 |
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Fax No.: |
91-172-2616559 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Hartek Amrik Singh |
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Designation : |
Director |
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Address : |
House No.356, Sector-44A, |
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Date of Birth/Age : |
22.02.1964 |
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Date of Appointment : |
10.07.2007 |
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DIN No.: |
01324320 |
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Name : |
Mrs. Keerti Hartek Singh |
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Designation : |
Director |
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Address : |
House No.2182, Phase – 10, Mohali – 160 067, |
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Date of Birth/Age : |
20.06.1967 |
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Date of Appointment : |
10.07.2007 |
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DIN No.: |
01188372 |
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Other Directorship :
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Name : |
Mr. Simarpreet Singh |
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Designation : |
Director |
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Address : |
House No.2182, Phase – 10, Mohali – 160 067, |
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Date of Birth/Age : |
07.08.1990 |
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Date of Appointment : |
23.03.2009 |
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DIN No.: |
02620183 |
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Name : |
Ms. Amarjit Kaur Singh |
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Designation : |
Director |
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Address : |
H.No.356, Sector-44A, |
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Date of Birth/Age : |
15.03.1939 |
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Date of Appointment : |
10.07.2007 |
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DIN No.: |
01324312 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Keerti Hartek Singh |
|
374000 |
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Hartek Singh |
|
4000 |
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Amarjit Kaur Singh |
|
1000 |
|
Simarpreet Singh |
|
1000 |
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Total |
|
380000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing turnkey solutions in HV and EHV. |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v Union Bank of v Yes Bank
Limited, 9th Floor, Nehru Centre, Discovery of v HDFC Bank
Limited |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kansal Singla and Associates Chartered Accountants |
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Address : |
SCO 80-81, 4th Floor, Sector 17-C, |
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Tel. No.: |
91-172-5078401-02 |
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Fax No.: |
91-172-5072903 |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFA9144R |
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Group Company : |
Amtek Sales and Services Private Limited |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
380000 |
Equity Shares |
Rs.10/- each |
Rs.3.800
millions |
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|
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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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.800 |
3.800 |
3.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
9.717 |
7.361 |
2.728 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.517 |
11.161 |
6.528 |
|
|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
7.368 |
29.640 |
0.469 |
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2] Unsecured Loans |
3.680 |
0.000 |
0.000 |
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TOTAL BORROWING |
11.048 |
29.640 |
0.469 |
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DEFERRED TAX LIABILITIES |
0.152 |
0.214 |
0.065 |
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TOTAL |
24.717 |
41.015 |
7.062 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.775 |
3.189 |
1.024 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
2.710
|
2.847 |
2.555 |
|
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Sundry Debtors |
50.136
|
97.971 |
33.383 |
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Cash & Bank Balances |
17.646
|
13.994 |
9.944 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
8.962
|
4.717 |
5.882 |
|
Total
Current Assets |
79.454
|
119.529 |
51.764 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
79.787 |
20.729 |
|
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Other Current Liabilities |
|
|
23.613 |
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Provisions |
1.161
|
1.922 |
1.393 |
|
Total
Current Liabilities |
57.515
|
81.709 |
45.735 |
|
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Net Current Assets |
21.939
|
37.820 |
6.029 |
|
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MISCELLANEOUS EXPENSES |
0.003 |
0.006 |
0.009 |
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TOTAL |
24.717 |
41.015 |
7.062 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
NET PROFIT |
3.518 |
6.704 |
3.875 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.44
|
9.98 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38
|
1.46 |
1.13 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
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3) Constitutions
of the firm |
Yes |
|
No |
|
|
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 |
No |
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9) Name of person
contacted |
No |
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10) Designation
of contact person |
No |
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11) Turnover of
firm for last three years |
No |
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12) Profitability
for last three years |
Yes |
|
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 |
|
16) Details of
sister concerns |
Yes |
|
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 |
FINANCIAL
HIGHLIGHTS:
The company incurred net profit of Rs.3.518 millions at the year ending
31st March, 2011 as compare to net profit of Rs.6.704 millions in
previous year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31100CH2007PTC030870 |
|
Name of the
company |
AMTEK ENERGY AND POWER PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S.C.O. 13-14-15,
3rd Floor, Sector 34-A, E-Mail: finance_accounts@amteksales.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge Others [All CA
(Both P and F) (Except those charged to others)] |
|
Particular of
charge holder |
CIN No.:
L65190MH2003PLC143249 Yes Bank
Limited, 9th Floor, Nehru Centre, Discovery of E-Mail: dlbbcadmum@yesbank.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation Dated 04.02.2011 |
|
Date of
instrument Creating the charge |
04.02.2011 |
|
Amount secured by
the charge |
Rs.35.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: WCDL-YBLBR plus
3.00% p.a. EROI 10.50% p.a. CC (SL of
WCDL)-YBLBR plus 4.50% p.a. EROI 12.00% p.a. PBG (SL of
WCDL)-1.00%p.a sub to minimum of INR 0.005 million (payable upfront) Counter Bank
Guarantee(SL of PBF)- nil Terms of
Repayment: WCDL-Maximum 90
Days CC (SL of
WCDL)-Repayable on Demand Performance Bank Guarantee
(SL of WCDL)-36 months(including claim period) Counter Bank
Guarantee (SL of PBF)-36 months(including claim period) Margin: WCDL-25% on book
debts(up to 90 days) plus stock minus creditors CC (SL of
WCDL)-25% on book debts(up to 90 days) plus stock minus creditors Performance Bank
Guarantee (SL of WCDL)-10% margin in the form of fixed deposit under lien
with Yes Bank Limited. Counter Bank
Guarantee (SL of PBF)-Nil Extent and
Operation of the charge: Exclusive charge
on all Current Assets and Movable Fixed Assets(except those specifically
charged to any other lender) of the company |
|
Short particulars
of the property charged |
Exclusive charge
on all Current Assets and Movable Fixed Assets (except those specifically charged
to any other lender) of the company |
FIXED ASSETS:
v
Air Conditioner
v
Computer
v
Car
v
Furniture and Fixture
v
v
Electrical Equipment
v
Inverter
WEBSITE DETAILS:
PROFILE:
Subject was conceptualized in 2007. With extensive infrastructure and exceptional inhouse design capabilities, they deliver excellent engineering to boost efficiency of existing Power Grid and offer Turnkey Power Projects.
During a short period of time, they have executed more than 60 EHV Sub Stations and
Transmission Lines upto 220KV throughout
In the short period of time, subject has executed more than 60
EHV Sub Stations and Transmission Lines upto 220KV.
A few of the prestigious projects which subject has been awarded with:
SUCCESSFULLY EXECUTED
v RELIANCE Energy Limited (Rosa Thermal Power Plant), UP 220KV Switchyard (13 Bay)
v Valley Iron and Steel Company Limited, Himachal Pradesh 220KV Transmission Line
v L and T (Mundra-Bhatinda Pipeline), Rajasthan 132KV Switchyard
v
Max Speciality Products,
v Arham Spinning Mills (Nahar Group), Rajasthan 132KV Switchyard
v
Universal Biomass Energy (Private) Limited,
v
SEL Manufacturing Company Limited,
v J.B. Rolling Mills (Jai Bharat) (Private) Limited, Himachal Pradesh 132KV Switchyard
v Gallantt Ispat Limited, U.P. 132KV Switchyard
v Saber Papers Limited, Himachal Pradesh 132KV Switchyard
RECENTLY COMMISSIONED
v Sanjog Sugars and Eco Power (Private) Limited, Rajasthan 132KV Switchyard
v Yadu Sugars Limited, Uttar Pradesh 132KV Switchyard
v Wipro Limited, Himachal Pradesh 66KV Switchyard
v
Highway Cycles,
v
Azure Power Punjab Private Limited,
v
Madhav Alloys Private Limited,
v
Green Planet Energy (Private) Limited,
v
Sharmanji Yarns (Private) Limited,
CURRENTLY UNDER
EXECUTION
v
Vardhman textile Limited, Himachal Pradesh 220KV
v Jindal Medicot (Private) Limited, Himachal Pradesh 132KV Switchyard
v
Coslight
v Indorama Industries Limited, Himachal Pradesh 66KV Switchyard
v
Hero Cycles Limited,
v Sunnox Batteries Private Limited, Himachal Pradesh 66Kv Switchyard
v
Bajwa Developers Limited,
v
v
Pearl City,
v
Green Planet Energy (Private) Limited,
v Sukhbir Agro Energy Limited, Uttar Pradesh 33KV Switchyard
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.56.42 |
|
|
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.69.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.