|
Report Date : |
11.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
APEX CORPORATION INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C/O T.B Hazra, 36/18, Chatterjee Bagan, Banerjee, |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.03.2007 |
|
|
|
|
Com. Reg. No.: |
21-114141 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.17.295 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB2007PTC114141 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Wholesaler and Supplier of Industrial Automation, Minning Equipments, Atlas
Copco Compressors, Portable Compressors and Drilling Machines |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 130000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. The company
is doing well. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small business dealing 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 |
LOCATIONS
|
Registered Office : |
C/O T.B Hazra, 36/18, Chatterjee Bagan, Banerjee, Para Road, West
Putiary, Kolkata - 700041, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
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|
|
|
Administrative Office : |
10, Avtar Building, Near Ram Mandir, Main Road, Bistupur, Jameshepur –
831001, Jharkhand, India |
|
Tel. No.: |
91-
657-2320969/ 2320807/ 2320918/ 2435486 |
|
Fax No.: |
91-657-2320918 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Hotel Yuvraj Building, Doranda, Ranchi – 834003, Jharkhand, India |
|
Tel. No.: |
91-651-2482296 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Gian Taneja |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
33, North West, Circuit House Area, Bistupur, Jamshedpur - 831 001,
Jharkhand, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.04.1947 |
|||||||||||||||||||||||||||
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Date of Appointment : |
14.03.2007 |
|||||||||||||||||||||||||||
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DIN No.: |
00923553 |
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Other Directorships :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Ms. Aruna Taneja |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
33, North West, Circuit House Area, Bistupur, Jamshedpur - 831 001,
Jharkhand, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.11.1955 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
14.03.2007 |
|||||||||||||||||||||||||||
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DIN No.: |
00923555 |
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|
Other Directorships :
|
||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Gian Taneja |
|
92850 |
|
Aruna Taneja |
|
10000 |
|
Vivekanand Tiwary |
|
2100 |
|
Apex Minig and Construction Private Limited, India |
|
68000 |
|
|
|
|
|
Total |
|
172950 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
39.32 |
|
Directors or relatives of directors |
|
59.47 |
|
Others |
|
1.21 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Wholesaler and Supplier of Industrial Automation, Minning Equipments,
Atlas Copco Compressors, Portable Compressors and Drilling Machines |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
Deutsche Bank ·
State Bank of
India, SMECC, Tee Kay Complex, Tinplate Chowk, Golmuri, Jamshedpur -
831003, Jharkhand, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. Gupta and Company Chartered Accountants |
|
Address : |
Bari Mansion, Bistupur, Jamshedpur – 831001, Jharkhand, India |
|
PAN No.: |
AACFG2208A |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Share |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
172950 |
Equity Share |
Rs.100/- each |
Rs.17.295
Millions |
|
|
|
|
|
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 |
17.295 |
12.995 |
12.995 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17.305 |
10.500 |
6.406 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
34.600 |
23.495 |
19.401 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
110.628 |
28.120 |
20.002 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
110.628 |
28.120 |
20.002 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
145.228 |
51.615 |
39.403 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.172 |
2.282 |
2.235 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.354 |
1.097 |
1.975 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.829
|
14.217 |
13.615 |
|
|
Sundry Debtors |
172.801
|
84.051 |
54.603 |
|
|
Cash & Bank Balances |
2.913
|
3.640 |
6.098 |
|
|
Other Current Assets |
29.644
|
14.838 |
6.343 |
|
|
Loans & Advances |
10.167
|
6.790 |
13.276 |
|
Total
Current Assets |
232.354
|
123.536 |
93.935 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
79.672
|
67.725 |
54.142 |
|
|
Other Current Liabilities |
2.823
|
2.568 |
1.592 |
|
|
Provisions |
8.228
|
5.150 |
3.223 |
|
Total
Current Liabilities |
90.723
|
75.443 |
58.957 |
|
|
Net Current Assets |
141.631
|
48.093 |
34.978 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.071 |
0.143 |
0.215 |
|
|
|
|
|
|
|
|
TOTAL |
145.228 |
51.615 |
39.403 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
435.063 |
292.640 |
268.893 |
|
|
|
Other Income |
3.655 |
1.822 |
1.022 |
|
|
|
TOTAL (A) |
438.718 |
294.462 |
269.915 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
383.486 |
249.382 |
222.308 |
|
|
|
Import Duty |
11.206 |
12.065 |
16.752 |
|
|
|
Transportation and Freight |
6.585 |
5.686 |
6.077 |
|
|
|
Salary and other Benefits to Employees |
6.523 |
5.266 |
5.636 |
|
|
|
Directors Remuneration |
5.645 |
4.980 |
2.100 |
|
|
|
Insurance Charges |
0.135 |
0.138 |
0.222 |
|
|
|
Other Administrative Expenses |
8.367 |
6.670 |
7.484 |
|
|
|
Audit Fee |
0.013 |
0.013 |
0.013 |
|
|
|
Preliminary Expenses Written Off |
0.072 |
0.072 |
0.072 |
|
|
|
TOTAL (B) |
422.032 |
284.272 |
260.664 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.686 |
10.190 |
9.251 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.278 |
3.644 |
2.773 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.408 |
6.546 |
6.478 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.526 |
0.525 |
0.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.882 |
6.021 |
5.903 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.077 |
1.927 |
1.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.805 |
4.094 |
3.976 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
TOTAL IMPORTS |
145.460 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
39.35 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.55
|
1.39 |
1.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.27
|
2.06 |
2.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.21
|
4.79 |
6.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.26 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.82
|
4.41 |
4.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.56
|
1.64 |
1.59 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Bankers Charges
Report as per Registry
|
Corporate identity number
(CIN) or foreign company registration number of the
company |
U51109WB2007PTC114141 |
|
Name of the
company |
APEX CORPORATION
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
C/O T.B Hazra, 36/18, Chatterjee Bagan, Banerjee, Para Road, West
Putiary, Kolkata - 700041, West Bengal, India E-mail: apex_wheels@satyam.net.in
|
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10054786 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, SMECC, Tee Kay Complex, Tinplate Chowk, Golmuri, Jamshedpur - 831003, Jharkhand, India E-mail: manohar.purty@sbi.co.in
|
|
Nature of
instrument creating charge |
1. SME-1
(Arrangement Letter) 2. SME-2
(Agreement of loan cum hypothecation) 3. SME-3
(Guarantee agreement) 4. Agreement to
be executed by borrower(s) for inclusion of bank dues under public demand 5. Agreement to be executed by guarantor(s)
for inclusion of bank dues under public demand |
|
Date of
instrument Creating the charge |
16.02.2011 |
|
Amount secured by
the charge |
Rs.116.800
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest For working
capital limit @ 4.75% above base rate, present base rate=8.25% per annum with
monthly rests. For letter of credit and bank guarantee usual charges. Terms of
Repayment Cash credit-
repayable on demand. Working capital
demand loan- as per CAS budget upto april'2011 Margin For cash credit
on stocks 25.00%. For cash credit book debts 40.00 %. (Cover period 90 days) for
letter of credit and bank guarantee 25.00%cash margin. Extent and
Operation of the charge First charge by
way of hypothecation over entire stock of industrial, electrical, and office
equipments like compressors, power tools, photocopiers, fax/telefax,
cameras etc. First charge by way of
hypothecation over book debts, bills, receivables, consumables, stores,
spares and finished goods. 2. Liquid
security in the form of bank FDR/NSC/LIC for Rs.30.000 Millions (excluding
cash margin on BG/LC) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All the current
assets including bookdebts, receivables and stock of goods of the company
located at the godowns at 10, Awtar Building, Main Road, Bistupuir,
Jamshedpur 831001 or any where else |
|
Date of
instrument modifying the charge |
07.06.2010 |
|
Particulars of
the present modification |
Total facilities
enhanced to Rs.116.800 Millions from Rs.35.500 Millions. Details of credit
facilities: cash credit (stocks) Rs.12.500 Millions , cash credit (b debts)
Rs 12.500 Millions , WCDL facility Rs.73.400 Millions , FLC Rs.2.500
Millions and BG Rs.15.900 Millions |
FIXED ASSETS:
·
Accent Honda Car
·
Honda City Car
·
Maruti AC800 Car
·
Tata NANO Cars
·
Motor Cycles
·
Computers
·
Printer
·
Photo Copier Machine
·
Type Writer Machine
·
Fax Machine
·
Generator
·
UPS
·
Air Conditioners
·
Refrigerator
·
Shoe Polish M/c
·
Office Equipment
·
Coffee Tea Machine
·
Furniture & Fixtures
·
Net Working Panel
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.55.36 |
|
|
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
34 |
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.