|
Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
AEROTECH ENERGY PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
AERO TECH ENGINEERS |
|
|
|
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Registered
Office : |
10, Laxmi Industrial Estate, Dahisar Checknaka, |
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|
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|
Country : |
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|
|
|
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Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.07.2010 |
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|
|
|
Com. Reg. No.: |
11-205425 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40300MH2010PTC205425 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA14166F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturers and Exporter of Axial Flow Fans. |
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|
|
|
No. of Employees
: |
180 (Approximately) |
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 2200 |
|
|
|
|
Status : |
New Company |
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|
|
|
Payment Behaviour : |
Slow |
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|
|
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company establishing itself gradually.
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 caution.
|
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/ Factory : |
Gala No.10, Laxmi Industrial Estate, Near Dahisar Checknaka, Mira Road,
Thane – 401104, Maharashtra, India |
|
Tel. No.: |
91-22-28456916/ 28454344/ 64504028/ 64504006 |
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Fax No.: |
91-22-28456917 |
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E-Mail : |
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Website : |
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Area : |
Own Land 2.5 Hectors (100000 sq. ft.) Plant Built up Area – 10000 sq. ft. |
DIRECTORS
(AS ON 01.07.2011)
|
Name : |
Mr. Venugopal Velayudhan Panakkal |
|
Designation : |
Director |
|
Address : |
302, Tanmay Building No.5, Hetalpark Opposite, Jangid Estate, Mira
Road, Thane – 401104, Maharashtra, India |
|
Date of Birth/Age : |
30.04.1974 |
|
Date of Appointment : |
13.07.2010 |
|
DIN No.: |
03085588 |
|
|
|
|
Name : |
Mrs. Shali Venugopal Panakkal |
|
Designation : |
Director |
|
Address : |
302, Tanmay Building No.5, Hetalpark Opposite, Jangid Estate, Mira
Road, Thane – 401104, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1981 |
|
Date of Appointment : |
13.07.2010 |
|
DIN No.: |
03085633 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 01.07.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Venugopal Velayudhan Panakkal |
|
74750 |
|
Shali Venugopal Panakkal |
|
25250 |
|
|
|
|
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Total |
|
100000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporter of Axial Flow Fans. |
GENERAL INFORMATION
|
Customers : |
· Bharat Aluminium Company Limited · Bajaj · Aditya Birla · Jindal Steel and Power · Hira · Group of Industries · Reliance Energy (Anil Dhirubhai Ambani Group) · Lloyda Group · Standard Spinning and Weaving Mills Limited · Defence Research and development Organisation · Indian Oil · Gail (India) Limited · Bharat Petroleum · Madras Fertilizers Limited · Panwater Engineering SDN. BHD., Malaysia · Clomans Investments · S and W Engineering Private Limited · Inter Royal Engineering Company Limited |
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No. of Employees : |
180 (Approximately) |
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Bankers : |
· Bank of Baroda Dahisar West Branch, Sarda Niwas, L T Road, Dahisar East, Mumbai – 400068,
Maharashtra, India · Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
PSRD and Company Chartered Accountant |
|
Address : |
1A, Mistry Building, 301 Dr. Cawasji Hormusji St. Marin Lines, Mumbai
– 400002, Maharashtra, India |
|
Tele-fax No.: |
91-22-22091348 |
|
PAN No.: |
AAAPO2543E |
CAPITAL STRUCTURE
(AS ON 01.07.2011)
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 |
|
|
|
|
|
(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 |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.285 |
|
|
3] Reserves & Surplus |
|
|
0.173 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.558 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.959 |
|
|
TOTAL BORROWING |
|
|
2.959 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.517 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.021 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2.040 |
|
|
Sundry Debtors |
|
|
6.180 |
|
|
Cash & Bank Balances |
|
|
0.554 |
|
|
Other Current Assets |
|
|
0.266 |
|
|
Loans & Advances |
|
|
0.607 |
|
Total
Current Assets |
|
|
9.647 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
5.534 |
|
|
Other Current Liabilities |
|
|
0.158 |
|
|
Provisions |
|
|
0.484 |
|
Total
Current Liabilities |
|
|
6.176 |
|
|
Net Current Assets |
|
|
3.471 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.025 |
|
|
|
|
|
|
|
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TOTAL |
|
|
3.517 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
|
|
|
|
|
INCOME |
|
|
1.235 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
0.173 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
17.30 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
16.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.56 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last one years |
Yes |
|
Profitability for last one years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
Yes |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
No |
|
Last Accounts filed at ROC |
No |
|
Major Shareholders, if available |
No |
FINANCIAL RESULTS
The company was newly incorporated i.e. during
the year the company warned an income of Rs.1.235 Millions during the
assessment year. After offsetting the expenses the company made a profit (after
tax) of Rs.0.173 Million during the assessment year. The directors are
optimistic about the future of the company.
FORM 8:
|
Corporate
identity number of the company |
U40300MH2010PTC205425 |
|
Name of the
company |
AEROTECH ENERGY
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
10, Laxmi
Industrial Estate, Dahisar Check Naka, Mira Road, Mira Road – 401104,
Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Bank of Baroda Dahisar West
Branch, Sarda Niwas, L T Road, Dahisar East, Mumbai – 400068, Maharashtra,
India |
|
Nature of description
of the instrument creating or modifying the charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
17/11/2011 |
|
Amount secured by
the charge |
Rs.12.014
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Credit Facility. Interest/
Commission - As agreed by and with the Bank from time to time. Terms of
Repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and
Operation of the charge The Bank is
having first charge on security given by the Company, as described in Sr. No.
15. |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge on: a) all the stock
in trade both present and future consisting of raw materials, finished goods,
goods in process of manufacturing and other merchandise, b) All the
present and future book debts, outstanding moneys receivable, claims and
bills. c) Hypothecation
of Machinery Purchased |
FIXED ASSETS:
· Mobile
· Printers
· Weiging Scale Machine
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.53.84 |
|
|
1 |
Rs.86.72 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
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 |
3 |
|
--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 |
|
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.