|
Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATES INDUSTRIAL GOODS SUPPLIERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-13, Flower Valley, VIP Road, Amlideeh, Airport Road, Raipur – 492
006, Chhattisgarh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.06.2005 |
|
|
|
|
Com. Reg. No.: |
53-017747 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.320
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100CTC2005PTC017747 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, distributor, importer, exporter, traders, broker in
welding electrodes, mild steel wires, LC ferro manganese, talcum potash cellulose,
titanium dioxide and potassium silicate or any other type of wire or raw
material required for manufacture of welding electrodes. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
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 : |
Yet to commence its business operation |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated during June 2005, the company
is yet to commence its business operation. Payment terms are unknown. 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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services sector
activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
Management non-cooperative
(Tel. No.: 91-40-30931379)
LOCATIONS
|
Registered Office : |
A-13, Flower Valley, VIP Road, Amlideeh, Airport Road, Raipur – 492
006, Chhattisgarh, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 04.07.2013
|
Name : |
Mr. Eragamreddy Kranthi Kumar Reddy |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
4/89-1, Gadichalavari Veedhi, Pulivndla, Kadapa – 516 390, Andhra
Pradesh, India |
||||||||||||||||||||||||
|
Date of Appointment : |
20.06.2012 |
||||||||||||||||||||||||
|
Din No.: |
05309176 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Eragamreddy Suresh Kumar Reddy |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
16-3-863/RP, Vasanth Nagar, K.P.H.B. Hyderabad – 500 072, Andhra
Pradesh, India |
||||||||||||||||||||||||
|
Date of Appointment : |
20.06.2012 |
||||||||||||||||||||||||
|
Din No.: |
00837979 |
||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 04.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Palladium Infrastructures and Projects
Limited, India |
|
31990 |
|
E. Kranthi Kumar Reddy (Nominee of Palladium
Infrastructures and Projects Limited) |
|
10 |
|
Total
|
|
32000 |
AS ON 04.07.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, distributor, importer, exporter, traders, broker in
welding electrodes, mild steel wires, LC ferro manganese, talcum potash
cellulose, titanium dioxide and potassium silicate or any other type of wire
or raw material required for manufacture of welding electrodes. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|
|
|
|
Bankers : |
IDBI Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. T. Vijay Kumar Chartered Accountant |
|
Address : |
Flat No.101, Jyothi Pride Apartments, shaNthi Nagar, Masab Tank,
Hyderabad – 500 057, Andhra Pradesh, India |
|
Tel. No.: |
|
|
PAN No.: |
ABAPT0491P |
|
|
|
|
Holding Company
: |
Palladium
Infrastructures and Projects Limited CIN No.: U45200AP2003PLC042172 Address: 8-2-349, Road No.3, Banjara
Hills, Hyderabad – 500 034, Andhra Pradesh, India |
|
|
|
|
Fellow
Subsidiary Company : |
Kalyug Developers Private Limited |
CAPITAL STRUCTURE
AS ON 04.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32000 |
Equity Shares |
Rs.10/- each
|
Rs.0.320
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
0.320 |
0.320 |
0.320 |
|
(b) Reserves & Surplus |
1.535 |
0.880 |
0.880 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.030 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
1.855 |
1.200 |
1.230 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
0.024 |
0.004 |
0.000 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term
provisions |
0.155 |
0.000 |
0.013 |
|
Total Current
Liabilities (4) |
0.179 |
0.004 |
0.013 |
|
|
|
|
|
|
TOTAL |
2.034 |
1.204 |
1.243 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1.087 |
1.169 |
1.118 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.030 |
0.000 |
|
Total Non-Current
Assets |
1.087 |
1.199 |
1.118 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
0.010 |
0.005 |
0.049 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
0.937 |
0.000 |
0.076 |
|
Total Current
Assets |
0.947 |
0.005 |
0.125 |
|
|
|
|
|
|
TOTAL |
2.034 |
1.204 |
1.243 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
|
|
0.000 |
|
|
|
Other Income |
|
|
0.861 |
|
|
|
TOTAL |
|
|
0.861 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
|
|
0.021 |
|
|
|
Preliminary Expenses written off |
|
|
0.031 |
|
|
|
TOTAL |
|
|
0.052 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
|
0.809 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
|
0.655 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
20.46 |
|
STATEMENT OF
EXPENDITURE FOR THE PERIOD ENDED 31ST MARCH, 2012
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
Other Expenses |
|
0.006 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL
EXPENDITURE TRANSFER TO PRE-OPERATIVE EXPENSE A/C |
|
0.006 |
0.005 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
76.07
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
39.77
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.29 |
1.25
|
9.62 |
LOCAL AGENCY FURTHER INFORMATION
|
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 one year |
Yes |
|
12] |
Profitability for last one year |
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 |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
No Charges Exist for Company.
NOTE:
The registered office of the company has been shifted from 20, Ashirwad Towers, G.E. Road, Raipur, Chhattisgarh, India to the present address w.e.f. 25.06.2013.
OPERATIONS:
During the period, the company has not commenced any business.
For the financial year ended 31st March, 2013, the company
earned a net profit of Rs.0.655 million on compensation received on Compulsory
acquisition of land held by it, by the National Highways Authority of India.
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 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.62.05 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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.