MIRA INFORM REPORT

 

 

Report Date :

04.06.2012

 

IDENTIFICATION DETAILS

 

Name :

ANATEK SERVICES PRIVATE LIMITED

 

 

Registered Office :

8, Valmiki Apartmentsc, S T Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

27.06.1997

 

 

Com. Reg. No.:

11-109057

 

 

Capital Investment / Paid-up Capital :

Rs.1.000 Million

 

 

CIN No.:

[Company Identification No.]

U29299MH1997PTC109057

 

 

IEC No.:

0397085478

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA11746A

 

 

PAN No.:

[Permanent Account No.]

AAACA9079Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and  Service Provider of Measuring Instruments and Scientific Instruments

 

 

No. of Employees :

60 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 360000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported. Business is active. Payments are reported to be usually correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and conditions. 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ashish R kilkarni

Designation :

Accounts Manager

Contact No.:

91-9594123222

Date :

02.06.2012

 

 

LOCATIONS

 

Registered Office / Head Office / Service Center :

8, Valmiki Apartmentsc, S T Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India

Tel. No.:

91-22-65014604 / 26670975 / 1004 / 95912536

Fax No.:

91-22-26650498

E-Mail :

accounts_anatek@yahoo.co.in

services@anatekservices.com

Website :

www.anatekservices.com

 

 

Sales Office :

201-214, Sai Chambers, Near Santacruz bus Depot, Santacruz (East), Mumbai – 4000055, Maharashtra, India

Tel. No.:

91-22-26104285 / 9608 / 66976816 / 17

 

 

Branch Office :

Locate At

 

·         New Delhi

·         Vadodara

·         Aurangabad

·         Kolkata

·         Mumbai

·         Pune

·         Hyderabad

·         Goa

·         Bangalore

·         Chennai

 

 

DIRECTORS

 

As on 27.06.1997

 

Name :

Mr. Chandrakant Dattatraya Kale

Designation :

Director

Address :

12-D, Popular House, Eden Woods, Pokharan Road No.2, Thane (West) -400601, Maharashtra, India

Date of Birth/Age :

11.047.1950

Qualification :

B Tech (IIT Mumbai)

Experience :

35 Years

Date of Appointment :

27.06.1997

DIN No.:

00611734

 

 

Name :

Mr. Suhas Shridhar Potdar

Designation :

Director

Address :

7, Vaikhari Sahnivas, Hanuman Road, Vile Parle (E), Mumbai – 400057, Maharashtra, India

Date of Birth/Age :

15.11.1956

Qualification :

MSC Electronics DMS

Experience :

30Years

Date of Appointment :

27.06.1997

DIN No.:

00804429

 

 

Name :

Mr. Hemant Gajanan Vadhavkar

Designation :

Director

Address :

301, Everest Grandeur, Chitrakar Ketkar Marg, Vile Parle (East), Mumbai – 400057, Maharashtra, India 

Date of Birth/Age :

04.02.1952

Qualification :

MSC Analytical Chemistry

Experience :

30 Years

Date of Appointment :

27.06.1997

DIN No.:

00804479

 

 

KEY EXECUTIVES

 

Name :

Mr. CS Ajit Sathe

Designation :

Company Secretaries

Address :

14/2nd Floor, Jiva Devshi Building, Above Ranade Road Post Office, Ranade Road, Dadar (East), Mumbai – 400028, Maharashtra, India

Tel No. :

91-6451-2969

Mobile No.:

91-9223214665

E-Mail :

aysath@gmail.com

 

 

Name :

Mr. Ashish R kilkarni

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 27.06.1997

 

Names of Shareholders

 

No. of Shares

Hemant Gajanan Vadhavkar

 

42500

Suhas Shridhar Potdar

 

42500

Chandrakant Dattatraya Kale

 

15000

Total

 

100,000

 

 

As on 27.06.1997

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and  Service Provider of Measuring Instruments and Scientific Instruments

 

 

Products :

·         HPLC

·         FTIR

·         CD-Polarimiter

·         UV-Spectrophotometer

 

 

Agencies Held :

Jasco International Limited - Japan

 

 

Terms :

 

Selling :

L/C

 

 

Purchasing :

L/C

 

 

GENERAL INFORMATION

 

No. of Employees :

60 (Approximately)

 

 

Bankers :

·         Canara Bank, 112, Jayachamarajendra Road, Bangalore - 560 002, Karnataka, India

Branch : Flat No. 310, Kalina-Kurla Road, Kalina, Santacruz (East), Mumbai - 400029, Maharashtra, India

·         Hongkong Bank

·         Saraswat Bank

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Borkar and Shenoy

Chartered Accountants

Address :

B-14, Valmiki Apts., Next To Bombay College, Sundernagar, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India

Tel. No.:

91-22-26671102 / 28391147 / 53

Fax No.:

91-22-26671024

E-Mail :

info@borkarnshenoy.in

PAN.:

AADFB6915E

 

 

Enter over which key Management personnel exercises significant influence : :

·         Anatek Services

·         Suntek Services

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs.1.000 Million

 

 

 

 

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.10/- each

Rs.1.000 Million

 

 

 

 

 


 

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

1.000

1.000

1.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

89.583

75.937

67.471

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

90.583

76.937

68.471

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.000

0.000

0.000

DEFERRED TAX LIABILITIES

0.796

0.784

0.643

 

 

 

 

TOTAL

91.379

77.721

69.114

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

11.435

12.154

6.717

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.620

0.620

0.610

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

11.935

3.280

2.796

 

Sundry Debtors

10.937

17.581

8.142

 

Cash & Bank Balances

67.600

63.730

58.278

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances

27.258

45.347

38.972

Total Current Assets

117.730

129.938

108.188

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

8.762

12.434

10.028

 

Other Current Liabilities

5.888

7.620

2.871

 

Provisions

23.756

44.937

33.502

Total Current Liabilities

38.406

64.991

46.401

Net Current Assets

79.324

64.947

61.787

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

91.379

77.721

69.114

 


PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

27.383

8.698

7.519

 

 

Direct Sales Commission

52.207

56.470

47.701

 

 

Other Income

15.007

12.419

14.534

 

 

TOTAL                                    

94.597

77.587

69.754

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Direct Expenses

43.525

24.231

19.724

 

 

Staff Expenses

17.211

13.836

14.450

 

 

Administrative Expenses

20.611

15.600

14.878

 

 

Increase / (Decrease) in Stock

(8.655)

(0.484)

0.367

 

 

TOTAL                                    

72.692

53.183

49.419

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

21.905

24.404

20.335

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION        

0.978

0.928

0.776

 

 

 

 

 

 

PROFIT BEFORE TAX

20.927

23.476

19.559

 

 

 

 

 

Less

TAX                                                     

6.853

7.990

6.935

 

 

 

 

 

 

PROFIT AFTER TAX

14.074

15.486

12.624

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

67.596

60.678

52.826

 

 

 

 

 

 

Prior Taxation 

0.429

0.000

0.000

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

0.000

1.549

1.262

 

 

Dividend

0.000

3.000

3.000

 

 

Tax on Dividend

0.000

0.510

0.510

 

 

Proposed Dividend

0.000

3.000

0.000

 

 

Provision for Tax

0.000

0.509

0.000

 

BALANCE CARRIED TO THE B/S

81.241

67.596

60.678

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

51.888

55.845

47.701

 

TOTAL EARNINGS

51.888

55.845

47.701

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Stores & Spares

28.681

8.005

6.000

 

TOTAL IMPORTS

28.681

8.005

6.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

140.74

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.200

PAT / Total Income

(%)

14.88

19.96

18.10

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

76.42

269.90

260.13

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

16.20

6.52

17.02

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.23

0.31

0.29

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.42

0.84

0.68

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.07

2.00

2.33

 

 

 

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

Yes

9) Name of person contacted

Yes

10) Designation of contact person

Yes

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

Yes

17) Major suppliers

No

18) Major customers

No

19) Payments terms

Yes

20) Export / Import details (if applicable)

No

21) Market information

--

22) Litigations that the firm / promoter

--

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

 

 

CONTINGENT LIABILITY

Rs. In Millions

Particular 

31.03.2011

31.03.2011

Performance Guarantee given by Bank

 

 

Canara Bank

5.703

4.966

Corporation Bank

0.987

0.000

Saraswat Bank

0.047

0.355

 

BANKERS CHARGES REPORT AS PER REGISTRY

 

Corporate identity number of the company

U29299MH1997PTC109057

Name of the company

ANATEK SERVICES PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

8, Valmiki Apartmentsc, S T Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India

anatek@vsnl.com

This form is for

Creation of charge

Type of charge

·         Book debts

·         Movable property (not being pledge)

Particular of charge holder

Canara Bank, 112, Jayachamarajendra Road, Bangalore - 560 002, Karnataka, India

Branch : Flat No. 310, Kalina-Kurla Road, Kalina, Santacruz (East), Mumbai - 400029, Maharashtra, India

mcity0116@canbank.co.in

Nature of instrument creating charge

Hypothecation of Agreement of Goods and Book Debts (for DALC/DPG/Guarantees) dated 26.05.2010.

Date of instrument Creating the charge

26.05.2010

Amount secured by the charge

Rs.5.000 Millions

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest

17.50 % per annum.

 

Terms of Repayment

Not to exceed 2 years and claim period up to maximum of 6 months.

 

Margin

25%

 

Extent and Operation of the charge

The charge is operative and created for Rs.5.000 Millions.

Short particulars of the property or asset(s) charged (including complete address and location of the property)

Hypothecation of Goods described as HIQ. Columns, Analytical Balance GR 200, GX 200, automatic  CD-polarimeter, moisture balance model AD4712 etc. and book debts of the company

 

 

 

Fixed Assets:

 

·         Office Premises

·         Office Equipments

·         Office Furniture

·         Residential Premises

·         Computer

·         Motor Car

·         Electrical Fittings 

 

 

WEBSITE DETAILS 

 

MANAGEMENT

 

Mr. H. G. Vadhavkar Jt.Managing Director

M.Sc. Analytical  Chemistry   with hands on experience over 30 years in sales and application field, known in the industry for his lectures and seminars on different analytical  techniques such  as spectroscopy and chromatography.

 

Mr. S. S. Potdar Jt.Managing Director

M. Sc.(electronics) D.M.S. over 30 years of hands on experience in sales / Services of Analytical instruments. Well known in the industry for his regular lectures and seminars on latest developments in Analytical instruments and electronics.

 

Mr. C. D. Kale Technical Director

B. Tech. (I.I.T. Mumbai), 35 years of experience in the field of servicing of different Analytical Instruments. Well known in the industry for his expertise in Analytical instrumentation across India.

 


CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.55.93

UK Pound

1

Rs.86.03

Euro

1

Rs.69.13

 

 

INFORMATION DETAILS

 

Report Prepared by :

NTH

 


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

7

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

50

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.