MIRA
INFORM REPORT
|
Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ANJ TURNKEY PROJECTS PRIVATE LIMITED |
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Registered
Office : |
106/107, Rajiv Gandhi Commercial Complex, Ekta Nagar,
Kandivali (West), Mumbai - 400067, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
29.04.2008 |
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Com. Reg. No.: |
11-181752 |
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Capital
Investment / Paid-up Capital : |
Rs.0.990 Million |
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CIN No.: [Company Identification
No.] |
U74210MH2008PTC181752 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject operates in the field of Architect Design, Interior Fit out and Civil Construction Contracting. |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 230000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. It has
achieved healthy growth in its sales turnover during 2011. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 2B |
|
Rating Explanation |
High performance capability and moderate
financial strength. |
|
Date |
December 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Nehal |
|
Designation : |
Accounts Manager |
|
Date : |
24.11.2012 |
LOCATIONS
|
Registered Office : |
106/107, Rajiv Gandhi Commercial Complex, Ekta Nagar, Kandivali (West), Mumbai - 400067, Maharashtra, India |
|
Tel. No.: |
91-22-65127101-2/ 65157101-2 |
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Fax No.: |
91-22-28671271 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Ashok Magharam Kularia |
|
Designation : |
Director |
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Address : |
C-501 Suresh Smruti Co-Operative Housing Society Limited, Veera Desai Road, Andheri (West) , Mumbai – 400058, Maharashtra, India |
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Date of Birth/Age : |
07.01.1983 |
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Date of Appointment : |
29.04.2008 |
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DIN No.: |
02077773 |
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Name : |
Mr. Magharam Chatararam Kularia |
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Designation : |
Director |
|
Address : |
C-704 Suresh Smruti Co-Operative Housing Society, Veera Desai Road, Prathamesh Complex, Azad Nagar, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1952 |
|
Date of Appointment : |
29.04.2008 |
|
DIN No.: |
02096462 |
KEY EXECUTIVES
|
Name : |
Mr. Nehal |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Magharam Kularia |
|
10000 |
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Magharam Chatararam Kularia |
|
89000 |
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Total |
|
99000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject operates in the field of Architect Design, Interior Fit out and Civil Construction Contracting. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
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Bankers : |
· Standard Chartered Bank, SME Credit, 23-25, M G Road, Fort, Mumbai - 400001, Maharashtra, India · Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Uday M Shah Chartered Accountant |
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Address : |
A/14, Santoshi Ma Nagar, Building No. 2, L T Road, Borivali (West), Mumbai - 400092, Maharashtra, India |
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Tel. No.: |
91-22-28903482 |
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PAN No.: |
AFZPS1864E |
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Enterprise in which
Management has significant interest: |
Anj Enterprises |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
99000 |
Equity Shares |
Rs.10/- each |
Rs.0.990
Million |
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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 |
0.990 |
0.200 |
0.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
58.234 |
16.276 |
2.295 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
59.224 |
16.476 |
2.495 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
1.541 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
1.172 |
13.668 |
0.082 |
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|
TOTAL BORROWING |
2.713 |
13.668 |
0.082 |
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|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
61.937 |
30.144 |
2.577 |
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.977 |
0.010 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.518
|
40.450 |
0.445 |
|
|
Sundry Debtors |
144.640
|
66.527 |
17.575 |
|
|
Cash & Bank Balances |
36.969
|
28.647 |
4.010 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
43.821
|
11.808 |
1.865 |
|
Total
Current Assets |
302.948
|
147.432 |
23.895 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
181.843
|
101.928 |
20.309 |
|
|
Other Current Liabilities |
34.827
|
7.060 |
0.000 |
|
|
Provisions |
29.335
|
8.335 |
1.042 |
|
Total
Current Liabilities |
246.005
|
117.323 |
21.351 |
|
|
Net Current Assets |
56.943
|
30.109 |
2.544 |
|
|
|
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|
|
|
|
MISCELLANEOUS EXPENSES |
0.017 |
0.025 |
0.033 |
|
|
|
|
|
|
|
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TOTAL |
61.937 |
30.144 |
2.577 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SALES |
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Income |
|
|
|
|
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|
Other Income |
|
|
|
|
|
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TOTAL |
854.318 |
324.986 |
51.216 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
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Administrative Expenses |
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|
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Advertising Expenses |
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|
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|
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TOTAL |
791.360 |
303.705 |
47.878 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
62.958 |
21.281 |
3.338 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
21.000 |
7.300 |
1.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
41.958 |
13.981 |
2.295 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
16.276 |
2.295 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
58.234 |
16.276 |
2.295 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
423.82 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.91 |
4.30 |
4.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.45 |
14.43 |
15.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.06 |
1.29 |
1.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.20 |
7.95 |
8.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.26 |
1.12 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors for goods |
174.463
|
94.609 |
18.778 |
|
Sundry Creditors for expenses |
7.380
|
7.319 |
1.531 |
|
|
|
|
|
|
Total |
181.843
|
101.928 |
20.309 |
|
Sr. No. |
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 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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
BUSINESS OPERATION:
They are happy to report excellent working
results for the year. During the year the Company has earned total income of
Rs. 854.318 Millions (Previous Year: 324.986 Millions). After providing for
Taxes, the profit for the year is Rs. 41.958 Millions (previous year Rs. 13.981
Millions) this was achieved by the efficient management of various functions
leading to increase in productivity and volume of operations. The fine
performance of the company has set the tone for further expansion of the
company's operations.
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
Particular |
31.03.2011 |
31.03.2010 |
|
Contingent Liabilities not provided for in Books For Bank Guarantees issued by Bankers |
117.555 |
28.056 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U74210MH2008PTC181752 |
|
Name of the
company |
ANJ TURNKEY
PROJECTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
106/107, Rajiv Gandhi Commercial Complex, Ekta Nagar, Kandivali (West), Mumbai - 400067, Maharashtra, India E-mail: vibha@anj.co.in |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10159240 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India E-mail: sme.form8@sc.com |
|
Nature of
instrument creating charge |
Hypothecation
Agreement – Supplemental |
|
Date of
instrument Creating the charge |
16.10.2012 |
|
Amount secured by
the charge |
Rs.280.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 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 and exclusive charge on the security given by the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of first and exclusive 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. |
|
Date of
instrument modifying the charge |
04.02.2012 |
|
Particulars of
the present modification |
The existing charge
amt of Rs.180.000 Millions enhanced to Rs.280.000 Millions and also secured
as hypothecation by way of first and exclusive 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. |
FIXED ASSETS
· Vacuum Cleaner
· Motor Car
· Machinery
· Computer and Printer
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.55.34 |
|
|
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.