MIRA
INFORM REPORT
|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
APLS AUTOMOTIVE INDUSTRIES PRIVATE LIMITED (w.e.f. 16.03.2012) |
|
|
|
|
Formerly Known
As : |
APPLE AUTOTURF PRIVATE LIMITED |
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|
|
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Registered
Office : |
WZ-85, |
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Country : |
|
|
|
|
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Financials (as
on) : |
31.03.2011 |
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|
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Date of
Incorporation : |
06.03.2009 |
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|
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Com. Reg. No.: |
55-188278 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35990DL2009PTC188278 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Dealers,
Importers and Exporters of all kinds of auto parts, mechanical parts,
industrial equipments, engineering equipment, implement, tools, engines, tyres, rubber tubes, bodies,
chassis, cammany carburettors, piston rings, cylinders, magnets, silencers,
radiators, sparking plugs, paraffin vaporizers, speedo-meters, self starters
gears, wheels, batteries,
decorative accessories. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 24000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. Profitability
appears to be low. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. Profit and loss account of the company is not available. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
WZ-85, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Satish Kumar Arora |
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Designation : |
Director |
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Address : |
M9/1E, DLF Phase – 2, Gurgaon – 122 002, |
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Date of Birth/Age : |
22.10.1951 |
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Date of Appointment : |
01.01.2011 |
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DIN No.: |
00115930 |
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Other Directorship :
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Name : |
Mr. Neeraj Kumar Saini |
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Designation : |
Director |
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Address : |
1566, Sector-9, |
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Date of Birth/Age : |
04.09.1970 |
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Date of Appointment : |
01.01.2011 |
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DIN No.: |
00111249 |
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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 |
|
Binnie Arora |
|
5000 |
|
Ritu Kumari Saini |
|
5000 |
|
Total |
|
10000 |
As on 31.03.2012
|
Names of Allottees |
|
No. of Shares |
|
K.C. Wadhwa |
|
150000 |
|
Ritu Kumari Saini |
|
92500 |
|
S.K. Arora |
|
130000 |
|
Binnie Arora |
|
60000 |
|
Neeraj Saini |
|
107500 |
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Total |
|
540000 |
|
Names of Allottees |
|
No. of Shares |
|
Satish K. Arora |
|
40000 |
|
Binnie Arora |
|
25000 |
|
Ritu Saini |
|
25000 |
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K.C. Wadhwa |
|
70000 |
|
Neeraj Saini |
|
30000 |
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Total |
|
190000 |
|
Names of Allottees |
|
No. of Shares |
|
Anden V. Beek |
|
240000 |
|
Total |
|
240000 |
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 : |
Dealers,
Importers and Exporters of all kinds of auto parts, mechanical parts,
industrial equipments, engineering equipment, implement, tools, engines, tyres, rubber tubes, bodies,
chassis, cammany carburettors, piston rings, cylinders, magnets, silencers,
radiators, sparking plugs, paraffin vaporizers, speedo-meters, self starters
gears, wheels, batteries,
decorative accessories. |
|
|
|
GENERAL INFORMATION
|
Suppliers : |
v
BCL Springs v
Bharat Industrial Enterprises v
Century Engineering Company Private Limited v
Deepak Marketing v
Deep Blue Express Private Limited v
Diamond Tools v
Ganesh Engineering v
Goyal Steel, v
Ishwar Enterprises v
Janki Industries v
Kumar Oil Company v
Lex Orbis v
Maa Engineering Works v
Mudra Packing v
Narayan Engineers v
Perfect Coating Systems v
P.K. Pattern Works v
Pooja Engineering Works v
P Raj and Company v
Productive Technologies Private Limited v
Rahul Sharma v
Raja Enterprises v
Ramesh Enterprises, Ballabgarh v
Ramesh Bhnia and Associates v
Rataso Thermopack Industries v
S.A.N. Industries v
v
Satya Trading Company v
Shree Arihant Enterprises v
Super Fine Industries v
Super Gauges Industries v
Supreme Automotives v
Surbhi Graphics v
Vikram Engineering v
Zhejioang Tieliu Clutch Company Limited |
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Customers : |
v Aggarwal Auto
Parts v Aggarwal Motors,
v Ahuja Motors, v Alok Trading
Agency v Ambika
Enterprises, Rudrapur v Anil Motor
Company, Gurgaon v Anita
Automobiles, v Ashoka Sales
Agencies ,Jaipur v Batra
Automobiles, v Bharat Gears
Limited v Bhatia
Automobiles, v Bhupindra
Traders, v Chirag (Ind1a)
Automotive Private Limited, v Madan
Automobiles, Palwal v Mahesh Motors, v Malkit Agro
Industries, Nabha v Manocha Tractor
Parts v Modern Agencies
, v Shree Shankar
Motor Parts, v Shyaam Tractor
Parts , v Srishti
Enterprises v Sumit Agencies, v Sunny Motors,
Badkhal v Suraj Motor
Company, Manimajra v Surya
Aautomobiles, Gurgaon v Veekay Sales
Corporations v Venkateswara
Plastics v Vishal
Enterprises, Ambala |
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No. of Employees : |
Not Available |
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Bankers : |
Punjab National
Bank, BO: High Value Branch, The Plaza Mall, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ramesh Bhatia and Associates Chartered Accountants |
|
Address : |
WZ-85, |
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Income-tax
PAN of auditor or auditor's firm : |
ACIPB5084H |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
980000 |
Equity Shares |
Rs.10/- each |
Rs.9.800
millions |
|
|
|
|
|
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
|
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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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
2.925 |
1.900 |
|
|
3] Reserves & Surplus |
|
2.883 |
2.365 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.908 |
4.365 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
14.054 |
2.572 |
|
|
2] Unsecured Loans |
|
29.614 |
0.046 |
|
|
TOTAL BORROWING |
|
43.668 |
2.618 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
49.576 |
6.983 |
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|
|
|
|
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APPLICATION OF FUNDS |
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|
|
|
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FIXED ASSETS [Net Block] |
|
6.116 |
3.692 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.406 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
21.458 |
7.932 |
|
|
Sundry Debtors |
|
17.911 |
4.157 |
|
|
Cash & Bank Balances |
|
0.050 |
0.130 |
|
|
Other Current Assets |
|
15.876 |
2.859 |
|
|
Loans & Advances |
|
0.314 |
0.803 |
|
Total
Current Assets |
|
55.609 |
15.881 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
8.928 |
8.424 |
|
|
Other Current Liabilities |
|
2.151 |
2.151 |
|
|
Provisions |
|
1.532 |
2.073 |
|
Total
Current Liabilities |
|
12.611 |
12.648 |
|
|
Net Current Assets |
|
42.998 |
3.233 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.056 |
0.058 |
|
|
|
|
|
|
|
|
TOTAL |
|
49.576 |
6.983 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
9.53 |
3.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
4.41 |
1.26 |
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 |
|
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 two years |
No |
|
12) Profitability
for last two years |
No |
|
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 |
Yes |
|
18) Major
customers |
Yes |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U35990DL2009PTC188278 |
|
Name of the
company |
APPLE AUTOTURF PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
WZ-85, E-Mail: fiitconsultants@gmail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Punjab National Bank,
BO: High Value Branch, The Plaza Mall, E-Mail: asamca@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
1. Hypothecation of
assets to secure Term Loan. 2. Hypothecation
of moveable assets forming part of fixed/block assets. 3. Hypothecation
of current assets. |
|
Date of
instrument Creating the charge |
01.02.2012 |
|
Amount secured by
the charge |
Rs.2.775 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest @ Base
Rate + 4% (Spread) + 0.50% (Term Premia) i.e. presently at 15.25% p.a. with
monthly rest. Interest shall be subject to changes made by Bank/RBI from time
to time. Terms of
Repayment: Term Loan of
Rs.2.775 millions will be repaid in 60 equal monthly installments of Rs.0.046
million each plus interest, charges, expenses, etc. as and when due. Margin: Plant and
Machinery and other equipments - 25% or as may be specified by the bank from
time to time. Extent and
Operation of the charge: 100% in favour of
Punjab National Bank, BO: High Value Branch, Gurgaon - 122002. Others: - Nil - |
|
Short particulars
of the property charged |
Hypothecation by
way of 1st and exclusive charge over entire plant and machinery
and other equipments to be purchased out of entire Term Loan of Rs.2.775
millions sanctioned by Punjab National Bank, High Value Branch, The Plaza
Mall, M.G. Road, Gurgaon, both present and future. Hypothecation by
way of 1st and exclusive charge over entire moveable assets
forming part of fixed/block assets viz. Plant and machinery, Equipments,
Computer, Furniture and Fixtures, Vehicle, etc. and all other block assets of
the Company as mentioned in the Balance Sheet, both present and future. Hypothecation by
way of 1st and exclusive charge on all the current assets of the
Company, both present and future. |
FIXED ASSETS:
v
Air Conditioner
v
Car
v
Computer
v
Computer Software
v
Electric Fitting
v
Furniture and Fixture
v
v
Plant and Machinery
v
Scooter
v
Tools and Gauge
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.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
2 |
|
--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 |
|
26 |
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.