|
Report Date : |
06.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS CRANE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
O-8, Southern Shelters, Kattupakkam, Mount Poonamalee, Chennai – 600
056, Tamilnadu |
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Country : |
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|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
04.01.2007 |
|
|
|
|
Com. Reg. No.: |
18-061955 |
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|
|
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29244TN2007PTC061955 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Manufacturer and Exporter of Cranes like EOT Cranes, Hot Cranes. |
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|
|
|
No. of
Employees: |
Approximately 23 (In Office – 8, In Factory – 15) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having moderate track. The financial
detail is missing from Government Department. And from the previous year
track record company having accumulated losses. However, trade relations are reported
to be fair. Business is active. Payments are unknown. The company can be considered for business dealings on a safe 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 PARTED BY
|
Name : |
Mr. Ganesh Babu |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9380211884 |
|
Date : |
26.09.2012 |
LOCATIONS
|
Registered Office : |
O-8, Southern Shelters, Kattupakkam, Mount Poonamalee, Chennai – 600
056, |
|
Tel. No.: |
91-44-32919997/ 32919998 |
|
Mobile No.: |
91-9380211884 (Mr. Ganesh Babu) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2.15 acre |
|
Location : |
Owned |
|
|
|
|
Factory : |
40, |
|
Tel. No.: |
91-44-32919997/ 32919998/ 32519997/ 26810653 |
|
Fax No : |
91-44-26810653 |
|
Area : |
10000 sq ft |
|
Location : |
Rented |
|
|
|
|
Correspondence
Address : |
No.3, |
|
Tel. No.: |
91-44-32919997/ 32919998 |
|
Area : |
10000 sq ft |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Senthilmuthu Mahalingam |
|
Designation : |
Director |
|
Address : |
41/1, |
|
Date of Birth/ Age : |
10.01.1978 |
|
Date of Appointment : |
04.01.2007 |
|
DIN No : |
02371988 |
|
|
|
|
Name : |
Mrs. Hemamalini Ganeshbabu |
|
Designation : |
Director |
|
Address : |
37, Serian Nagar, Thiruvetriyur, Chennai – 600 001, |
|
Date of Birth/ Age : |
20.01.1981 |
|
Date of Appointment : |
04.01.2007 |
|
DIN No : |
03341083 |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh Babu |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Senthilmuthu Mahalingam |
|
500 |
|
Hemamalini Ganeshbabu |
|
500 |
|
Total |
|
1000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cranes like EOT Cranes, Hot Cranes. |
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Products : |
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Exports : |
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|
Products : |
Cranes |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Retailers and End Users
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No. of Employees : |
Approximately 23 (In Office – 8, In Factory – 15) |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Suraj Dhoka and Asscociates Chartered Accountant |
|
Address : |
168, Mint Street, Manibhadra enclave, 2nd Floor, Sowcarpet,
Chennai-600079, |
|
Income-tax PAN of auditor or auditor’s firm : |
AAGPD3125K |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1.203) |
(0.820) |
(0.191) |
|
|
NETWORTH |
(1.103) |
(0.720) |
(0.091) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.036 |
1.878 |
2.133 |
|
|
2] Unsecured Loans |
1.450 |
1.000 |
1.000 |
|
|
TOTAL BORROWING |
3.486 |
2.878 |
3.133 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2.383 |
2.158 |
3.042 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.445 |
0.495 |
0.550 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.197
|
5.512 |
10.879 |
|
|
Sundry Debtors |
3.962
|
5.343 |
2.455 |
|
|
Cash & Bank Balances |
0.065
|
0.029 |
0.033 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.262
|
0.414 |
0.487 |
|
Total
Current Assets |
10.486
|
11.298 |
13.854 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors, Other Current Liabilities and Provisions |
8.720
|
9.826 |
11.583 |
|
Total
Current Liabilities |
8.720
|
9.826 |
11.583 |
|
|
Net Current Assets |
1.766
|
1.472 |
2.271 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.172 |
0.191 |
0.221 |
|
|
|
|
|
|
|
|
TOTAL |
2.383 |
2.158 |
3.042 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
NET
LOSS |
0.820 |
0.190 |
NA |
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
65.000 |
80.000 |
60.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.80.000 millions
The above information has been parted by Mr. Ganesh Babu (Marketing
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
(11.07)
|
(17.64) |
(161.71) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
1.15 |
1.20 |
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
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 two years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
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 |
No |
|
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 |
No |
Note:
The Registered Office of the company has been shifted from No.615, Shivalaya
Building, Ethiraj Salai, Egomore, Chennai – 600 008, Tamilnadu, India to the
present address.
FINANCIAL RESULT:
The company has netted Loss of Rs.0.820 million during the year and is
hopeful of achieving goods results in the years to come.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29244TN2007PTC061955 |
||||||||||||||
|
Name of the
company |
ATLAS CRANE PRIVATE LIMITED |
||||||||||||||
|
Address of the
registered office or of the principal place of business in |
O-8, Southern Shelters, Kattupakkam, Mount Poonamalee, Chennai – 600
056, E-Mail: theatlaskrane@yahoo.co.in |
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|
This form is for |
Modification of
charge |
||||||||||||||
|
Charge identification
number of the modified |
10154735 |
||||||||||||||
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) Others
(Hypothecation) |
||||||||||||||
|
Particular of
charge holder |
Bank of |
||||||||||||||
|
Nature of
description of the instrument creating or modifying the charge |
1) Hypothecation
cum Loan Agreement (Plant and Machinery, Stocks and Book Debts) 2) Supplemental
Hypothecation Agreement to Secure Additional Cash Credit / Demand Loan /
Overdraft / Term Loan / other credit facility. 3) Term Loan
Agreement (Form "A") |
||||||||||||||
|
Date of
instrument Creating the charge |
24.03.2012 |
||||||||||||||
|
Amount secured by
the charge |
Rs.10.000
millions |
||||||||||||||
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC : 3.50% Over BOI
Base Rate presently 14.25% p.a. floating TL : 3.50% over
BOI Base Rate plus tenor premium 0.50% (presently 14.75% p.a. floating) BG: Commission As
per bank's guidelines. Terms of
Repayment: Cash Credit :
Repayable on Demand Term Loan amount
of Rs.6.500 millions is to be repayable in 72 equated monthly installments of
Rs.0.137 million each commencing after 6 months of disbursement or October
2012 whichever is earlier. Margin: Cash Credit : 25% Term Loan : 37% Bank Guarantee :
25% Extent and Operation
of the charge: As per agreement |
||||||||||||||
|
Short particulars
of the property charged |
Principal
Security:- Hypothecation of
stocks, book debts, factory land and building and plant and machineries,
block assets. |
||||||||||||||
|
Particulars of
the present modification |
By the present
modification, The Overall
credit facilities now has been increase from Rs.3.000 millions to Rs.10.000
millions.
|
TRADE REFERENCES:
FIXED ASSETS:
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.51.97 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.67.20 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
12 |
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.