MIRA
INFORM REPORT
|
Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ACROS PRIVATE LIMITED |
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Registered
Office : |
B |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
19.01.1994 |
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Com. Reg. No.: |
04-021080 |
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Capital
Investment/ Paid-up Capital: |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U36999GJ1994PTC021080 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA1302A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of Thermoforming products, Engineering products. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 194000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track. Financial company
is performing well. Trade relations are reported to be fair. Business is
active. Payments are reported to regular and as per commitments. The company can be considered for normal 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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 DENIED BY
|
Name : |
Mr. Ishant Patel |
|
Designation : |
Marketing Executive |
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Date : |
05.10.2012 |
LOCATIONS
|
Registered Office : |
B |
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Tel. No.: |
91-2662-222494/222754 |
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Fax No.: |
91-2662-222807 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sanjay Vijaykant Shah |
|
Designation : |
Director |
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Address : |
16, Sarvanand Society,
Karelibaug, Vadodara, |
|
Date of Birth/Age : |
28.12.1960 |
|
Date of Appointment : |
19.03.1994 |
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Din No.: |
00390777 |
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Name : |
Sunil Vijaykant Shah |
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Designation : |
Director |
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Address : |
14, Nisarg Apartment, 41,
Pratapgunj, Vadodara, |
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Date of Birth/Age : |
01.05.1959 |
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Date of Appointment : |
19.03.1994 |
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Din No.: |
00390759 |
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KEY EXECUTIVES
|
Name : |
Mr. Ishant Patel |
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Designation : |
Marketing Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sunil V Shah |
|
2800 |
|
Sanjay V Shah |
|
1800 |
|
Vijaykant C Shah |
|
3250 |
|
Shardaben Shah |
|
1450 |
|
Beena S Shah |
|
200 |
|
Pragna Dave |
|
500 |
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
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|
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Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Thermoforming products, Engineering products. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of |
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Facilities : |
Rs.
In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mukund and Rohit Chartered Accountant |
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Address : |
8,2nd Floor, Tower –E, Avishkar |
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Pan No.: |
AACXM4355J |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000
Millions |
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|
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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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
47.393 |
37.187 |
31.041 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
48.393 |
38.187 |
32.041 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.804 |
1.233 |
5.060 |
|
|
2] Unsecured Loans |
0.450 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
12.254 |
1.233 |
5.060 |
|
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DEFERRED TAX LIABILITIES |
3.097 |
2.910 |
2.838 |
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TOTAL |
63.744 |
42.330 |
39.939 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
33.478 |
26.502 |
27.059 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
14.278
|
9.345 |
4.639 |
|
|
Sundry Debtors |
15.100
|
7.602 |
4.589 |
|
|
Cash & Bank Balances |
7.189
|
4.847 |
3.927 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
15.020
|
6.576 |
10.624 |
|
Total
Current Assets |
51.587
|
28.370 |
23.779 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.476
|
4.450 |
1.274 |
|
|
Other Current Liabilities |
1.292
|
1.337 |
1.120 |
|
|
Provisions |
13.554
|
6.756 |
8.508 |
|
Total
Current Liabilities |
21.322
|
12.543 |
10.902 |
|
|
Net Current Assets |
30.265
|
15.827 |
12.877 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
|
|
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|
|
|
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TOTAL |
63.744 |
42.330 |
39.939 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Other Income |
|
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TOTAL |
72.901 |
43.630 |
29.553 |
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EXPENSES |
62.939 |
34.707 |
27.212 |
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PROFIT BEFORE
TAX |
15.183 |
8.923 |
2.341 |
|
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PRIOR PERIOD
CHARGES |
0.004 |
0.003 |
0.004 |
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TAX |
4.973 |
2.774 |
0.692 |
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PROFIT AFTER
TAX) |
10.206 |
6.146 |
1.645 |
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Earnings Per
Share (Rs.) |
1020.6 |
- |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
13.99 |
14.09 |
5.57 |
|
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|
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.84 |
16.26 |
4.60 |
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|
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.23 |
0.07 |
|
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Debt Equity Ratio (Total Liability/Networth) |
|
0.69 |
0.36 |
0.47 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.42 |
2.26 |
2.18 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
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 |
Yes |
|
Designation
of contact person |
Yes |
|
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 |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
OPERATION AND FINANCIAL
The company has achieved turnover of Rs. 72.900 Millions during the current year compared to Rs. 43.600 Millions in the previous year. The Company has earned a net, profit of Rs. 10.206 Millions during the year.
The directors do not recommend any dividend for the current year. The company had not accepted any deposit from the public during the year
FORM 8
|
Corporate
identity number of the company |
U36999GJ1994PTC021080 |
|
Name of the
company |
ACROS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B Email: acros@acrosworld.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
80030326 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of Email: mk.rasulabad@sbi.co.in
|
|
Nature of
instrument creating charge |
Memorandum
relating to deposit of title deeds for creation of further charge for term
loan/overall limit where the initial charges is created by way of mortgage by
deposit of title deeds dated 16.03.2011 |
|
Date of
instrument Creating the charge |
16.03.2011 |
|
Amount secured by
the charge |
Rs. 26.900 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit 4.75% p.a. above base rate Standby Line of Credit - 5.75% p.a. above base rate Letter of Credit - As per extant instruction T. L. 1- 5.25%
& T.L. 2- 6.50% p.a. above base rate Term
of Payment: Cash Credit on demand Term Loan-1 initial 44 monthly installments of Rs.2,50,000/- each with
the first installment commencing on August 2011and and last installment due
on March2015 Term Loan-1 initial 44 monthly installments First 40 installment of
Rs.125000/-and remaining 4 installments of Rs.2,50,000/- each with the first
installment commencing on August 2011and and last installment due on
March2015 Margin Raw Materials:
Imported Indigenous 25 Semi-Finished Goods 25 Finished Goods 25 Components/Consumables/Spares 100 Domestic Receivables 40 EPC
N.A. Term Loan
LC
25 BG Extent and
operation of the charge The Charge shall extended by way of Mortgage
to repayment of all monies including principal sums, interest, interest tax,
additional interest, further interest, penal interest, commission, costs,
charges and expenses payable under or in respect of such facilities. |
|
Short particulars
of the property charged (Including location of the property) |
The
immovable property i.e. Survey No.284 Plot No. B/4 in the Vijay Industrial
Estate P. O. Samiyala, |
|
Date of last modification prior to the present modification |
05.08.2012 |
|
Particulars of the present modification |
After
present modification of mortgage the charge now extends to secure aggregate
modified limits of Rs. 26.900 Millions |
FIXED ASSETS:
·
Land
·
·
Plant and Machinery
·
Computers
·
Furniture and Fixtures
·
Office Equipment
·
Vehicle
·
Capital work in progress
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 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 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] 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.51.62 |
|
|
1 |
Rs.83.57 |
|
Euro |
1 |
Rs.67.17 |
INFORMATION DETAILS
|
Information Gathered
by : |
SLP |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.