1. Summary Information
|
|
|
Country |
|
|
Company Name |
ADVANSYS ( |
Principal Name 1 |
Mr. Pankaj Inder Balwani |
|
Status |
No business
activities |
Principal Name 2 |
Mrs. Shakuntala Balwani |
|
|
|
Registration # |
1-134559 |
|
Street Address |
705-706 Raheja
Classique Complex, Building 2-A Oshiwara Link Road Andheri (West), Mumbai –
400053, Maharashtra, India |
||
|
Established Date |
14.01.2002 |
SIC Code |
-- |
|
Telephone# |
91-22-26322736 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Importer |
|
Homepage |
-- |
Product Name 1 |
Electronic Mechanical System |
|
# of employees |
Not Available |
Product Name 2 |
Electronic Mechanical Equipments |
|
Paid up capital |
Rs.2,500,000/- |
Product Name 3 |
Electronic Mechanical Appliances |
|
Shareholders |
Directors or relatives of Directors – 100 % |
Banking |
Cosmos
Co-Operative Bank |
|
Public Limited Corp. |
NO |
Business Period |
10 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
C |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
Kelux Technologies |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
37,547,000 |
Current Liabilities |
50,610,000 |
|
Inventories |
13,433,000 |
Long-term Liabilities |
14,574,000 |
|
Fixed Assets |
108,072,000 |
Other Liabilities |
2,150,000 |
|
Deferred Assets |
1,590,000 |
Total Liabilities |
67,334,000 |
|
Invest& other Assets |
2,033,000 |
Retained Earnings |
92,841,000 |
|
|
|
Net Worth |
95,341,000 |
|
Total Assets |
162,675,000 |
Total Liab. & Equity |
162,675,000 |
|
Total Assets (Previous Year) |
140,475,000 |
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
137,455,000 |
Net Profit / (Loss) |
(1,939,000) |
|
Sales(Previous yr) |
119,009,000 |
Net Profit/
(Loss) (Prev.yr) |
16,643,000 |
MIRA INFORM REPORT
|
Report Date : |
07.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADVANSYS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
705-706 Raheja Classique Complex, Building 2-A Oshiwara Link Road
Andheri (West), Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2008 |
|
|
|
|
Date of
Incorporation : |
14.01.2002 |
|
|
|
|
Com. Reg. No.: |
11-134559 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH2002PTC134559 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA04639F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importers and Exporters of
all Types of Electrical, Electronic Mechanical System, Equipments, Appliances |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
No business activities |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
As claimed by Ms Kusum (HR of Sister Concern), the company has not
done any business activities from last 3 years and they are planning to start
the business activities as soon as possible. We have also sent own person to
registered office but that was found to be closed from last 6 months. Initially, the company can be considered for business dealings on a
safe and secured 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) |
|
|
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 : |
Ms. Kusum |
|
Designation : |
HR in Sister Concern |
|
Contact No.: |
91-8888877784 |
|
Date : |
03.05.2012 |
LOCATIONS
|
Registered Office : |
705-706 Raheja Classique Complex, Building 2-A Oshiwara Link Road
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26322736 |
|
Mobile No.: |
91-8888877784 (Ms. Kusum) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office : |
Plot No.5-7, Raisoni Industrial Park, Gat No.287/2A, 287/2B, 286/1A at
Village Mann, Near Hinjewadi, Taluka Mulshi, District Pune – 411057,
Maharashtra, India |
|
Tel. No.: |
91-20-66545454/56 |
DIRECTORS
As on 29.09.2008
|
Name : |
Mr. Pankaj Inder Balwani |
|
Designation : |
Director |
|
Address : |
C-201, Riviresa Co-Op. Hsg. Society, Baner, Behind Axis
Bank, Pune – 411045, Maharashtra, India
|
|
Date of Birth/Age : |
01.02.1975 |
|
Date of Appointment : |
14.01.2002 |
|
DIN No.: |
02112153 |
|
|
|
|
Name : |
Mrs. Shakuntala Balwani |
|
Designation : |
Director |
|
Address : |
C-201, Riviresa Co-Op. Hsg. Society, Baner, Behind Axis Bank, Pune – 411045,
Maharashtra, India |
|
Date of Birth/Age : |
05.08.1953 |
|
Date of Appointment : |
14.01.2002 |
|
DIN No.: |
01887488 |
|
|
|
|
Name : |
Ms. Jaanhvi Balwani |
|
Designation : |
Director |
|
Address : |
C-201, Riviresa Co-Op. Hsg. Society, Baner, Behind Axis Bank, Pune –
411045, Maharashtra, India |
|
Date of Birth/Age : |
16.06.1977 |
|
Date of Appointment : |
26.09.2005 |
|
DIN No.: |
02423223 |
KEY EXECUTIVES
|
Name : |
MRV Associates |
|
Designation : |
Company Secretaries |
|
Address : |
3A, Shubh-Ashirwad, Patwardhan Bag, B/H Vakil Nagar Rikshaw Stand,
Erandwane, Pune 411 004, Maharashtra, India |
|
Tel No.: |
91-20-25438145 |
|
Email Id : |
|
|
Website: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2008
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Pankaj Inder Balwani |
|
200000 |
|
Shakuntala Balwani |
|
50000 |
|
Total |
|
250000 |
As on 29.09.2008
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, Importers and Exporters of
all Types of Electrical, Electronic Mechanical System, Equipments, Appliances |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
Cosmos Co-Operative Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Thakur Vaidyanath Aiyer and Company Chartered Accountants |
|
Address : |
11-B Vasta House, Janmabhoomi Marg, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22842502 / 22870067 |
|
Fax No.: |
91-22-22046386 |
|
E-Mail : |
|
|
PAN.: |
AAAFT3096M |
|
|
|
|
Associates : |
Kelux Technologies |
CAPITAL STRUCTURE
As on 31.03.2008
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 |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
92.841 |
96.563 |
79.920 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
95.341 |
99.063 |
82.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14.574 |
20.305 |
24.945 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
14.574 |
20.305 |
24.945 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
109.915 |
119.368 |
107.365 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
108.072 |
116.384 |
116.281 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
9.333 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.009 |
1.909 |
1.807 |
|
|
DEFERREX TAX ASSETS |
1.590 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.433
|
12.730 |
0.000 |
|
|
Sundry Debtors |
20.009
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
4.053
|
5.313 |
1.987 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
13.485
|
4.111 |
10.275 |
|
Total
Current Assets |
50.980
|
22.154 |
12.262 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
50.610
|
19.288 |
30.638 |
|
|
Provisions |
2.150
|
1.819 |
1.713 |
|
Total
Current Liabilities |
52.760
|
21.107 |
32.351 |
|
|
Net Current Assets |
(1.780)
|
1.047 |
(20.089) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.024 |
0.028 |
0.033 |
|
|
|
|
|
|
|
|
TOTAL |
109.915 |
119.368 |
107.365 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
SALES |
|
|
|
|
|
|
|
Manufacturing Exports - EOU |
137.455 |
119.009 |
|
|
|
|
Engineering Design Services |
0.000 |
0.000 |
|
|
|
|
Other Income |
0.162 |
0.726 |
|
|
|
|
TOTAL (A) |
137.617 |
119.735 |
76.774 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating and Other Expenses |
127.603 |
88.399 |
|
|
|
|
Preliminary Expenses Written Off |
0.005 |
0.005 |
|
|
|
|
TOTAL (B) |
127.608 |
88.404 |
74.370 (Including
Financial Charges and Depreciation) |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
10.009 |
31.331 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.517 |
2.430 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
7.492 |
28.901 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.490 |
11.762 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F)
(G) |
(3.998) |
17.139 |
2.404 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.059) |
0.496 |
0.353 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(1.939) |
16.643 |
2.051 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period
Adjustments |
(1.782) |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3.721) |
16.643 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
137.455 |
119.009 |
75.786 |
|
|
TOTAL EARNINGS |
137.455 |
119.009 |
75.786 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machinery |
0.000 |
0.301 |
0.621 |
|
|
|
Purchase |
33.753 |
16.324 |
0.000 |
|
|
|
Spares |
0.000 |
0.000 |
6.381 |
|
|
TOTAL IMPORTS |
33.753 |
16.625 |
7.002 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(7.76) |
-- |
-- |
|
%20PRIVATE%20LIMITED%20-%20177144%2007-May-2012_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20177144%2007-May-2012_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
(1.41)
|
13.90 |
2.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.91)
|
14.40 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.51)
|
12.37 |
1.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
0.17 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.71
|
0.42 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
1.05 |
0.38 |
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 |
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 |
No |
|
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 |
No |
|
30) Major Shareholders, if available |
Yes |
Future Outlook:
During the next financial year the Company expects to achieve good turnover
and increasing returns.
Contingent Liability:
(Rs. In Millions)
|
Particulars |
31.03.2008 |
31.03.2007 |
|
|
|
|
|
Guarantee given to Customs |
0.508 |
0.508 |
|
Guarantee given
to sales tax |
0.010 |
0.010 |
|
Guarantee given
to Customs -
Against Customs
Bonding |
0.500 10.000 |
0.000 0.000 |
|
Letter of Credit
issued to suppliers against Import purchase |
0.721 |
0.000 |
Fixed Assets:
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Tools and Dyes
·
Furniture and Fixtures
·
Vehicles
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.53.72 |
|
|
1 |
Rs.86.98 |
|
Euro |
1 |
Rs.70.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
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.