|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
AGNICE FIRE
PROTECTION PRIVATE LIMITED (w.e.f. 01.06.2012) |
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|
|
Formerly Known
As : |
AGNICE FIRE PROTECTION LIMITED (w.e.f. 14.09.2000) AGNI HEAVY ENGINEERING INDUSTRIES LIMITED |
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Registered
Office : |
No.2, G.K.
Industrial Estate, Alapakkam, Porur, Chennai – 600 016, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of Incorporation
: |
12.05.1995 |
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Com. Reg. No.: |
18-031367 |
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Capital
Investment / Paid-up Capital : |
Rs.41.530
millions |
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|
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CIN No.: [Company Identification
No.] |
U28920TN1995PTC031367 |
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|
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PAN No.: [Permanent Account No.] |
AAACA9432F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Engineering, Procurement and Construction Contractor for Fire Fighting
Systems. |
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|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1280000 |
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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 a satisfactory track record. There
appears sharp fall in the profitability during the current year. However, general financial position of the company appears to be
strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. Note: United Technologies has acquired 69% of Agnice Fire Protection’s
Shares. |
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BB+ |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing og
financial obligation. |
|
Date |
October 26, 2009 |
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. Deepak |
|
Designation : |
Finance Manager |
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Contact No.: |
91-22-42778410 |
|
Date : |
06.02.2013 |
LOCATIONS
|
Registered Office/ Head Office/ Assembling Unit : |
No.2, G.K.
Industrial Estate, Alapakkam, Porur, Chennai – 600 016, |
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Tel. No.: |
91-44-42906900 (40 Lines) |
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Fax No.: |
91-44-24769324 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
# C-301-303, 3rd Floor, Twin Arcade, |
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Tel. No.: |
91-22-40178500-14 |
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Fax No.: |
91-22-40178515 |
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E-Mail : |
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Branch Office : |
Also located at: v
v
v
v
v
Kolkata |
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Overseas Office : |
Located at: v
v
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DIRECTORS
As on 23.08.2012
|
Name : |
Zubin Jamshed Irani |
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Designation : |
Director |
|
Address : |
11, Jor Bagh, |
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Date of Birth/Age : |
11.08.1972 |
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Date of Appointment : |
02.12.2011 |
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DIN No.: |
00159781 |
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|
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Name : |
Mr. Ramasami Govindarajan |
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Designation : |
Managing director |
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Address : |
No.20, |
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Date of Birth/Age : |
04.06.1958 |
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Qualification : |
B.E. |
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Experience : |
Having 25 years of experience in the manufacturing and contract
industry |
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Date of Appointment : |
19.01.2001 |
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DIN No.: |
00247519 |
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PAN No.: |
AAEPG0068Q |
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|
|
|
Name : |
Mr. Ameer Ahmed |
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Designation : |
Director |
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Address : |
C/o. Agnice International and Partners LLC, PO Box 546, PC 117,
Muscat, Sultanate of Oman |
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Date of Birth/Age : |
22.09.1953 |
|
Date of Appointment : |
15.02.2002 |
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DIN No.: |
00284273 |
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PAN No.: |
ABCPA4737H |
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|
|
Name : |
Mr. Balasubramanian Nariampalli |
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Designation : |
Director |
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Address : |
21/2, |
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Date of Birth/Age : |
11.10.1931 |
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Date of Appointment : |
18.06.2012 |
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DIN No.: |
01013436 |
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|
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Name : |
Mr. Manish Moreshwar Asarkar |
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Designation : |
Director |
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Address : |
A-103, Navbharar Co-Operative Housing Society, Plot No.8, Sector 2,
New Panvel, Navi Mumbai – 410 206, |
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Date of Birth/Age : |
07.06.1970 |
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Date of Appointment : |
02.12.2011 |
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DIN No.: |
02854527 |
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|
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Name : |
Mr. Kenneth L. Erickson |
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Designation : |
Director |
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Address : |
507, |
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Date of Birth/Age : |
25.06.1957 |
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Date of Appointment : |
18.06.2012 |
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DIN No.: |
05268409 |
KEY EXECUTIVES
|
Name : |
M. Srinivasan |
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Designation : |
Company Secretary |
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Address : |
864A, |
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Date of Birth/Age : |
12.11.1964 |
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Date of Appointment : |
15.12.2010 |
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PAN No.: |
AAZPS2315K |
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Name : |
Mr. Deepak Gagare |
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Designation : |
Finance Manager |
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Name : |
Mr. Vivek |
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Designation : |
Marketing Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
UTC Fire and Security Singapore Pte Limited, |
|
2865549 |
|
Zhenyu Zhang |
|
1 |
|
Ameer Ahmed |
|
540200 |
|
R. Govindarajan |
|
279450 |
|
Ameer Ahmed and Anitha Ameer |
|
255000 |
|
Anitha Ameer |
|
194800 |
|
Aysha Thaha |
|
8000 |
|
G. Jayalakshmi |
|
10000 |
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Total |
|
4153000 |
As on 23.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
92.84 |
|
Directors
or relatives of directors |
|
7.16 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Engineering, Procurement and Construction Contractor for Fire Fighting
Systems. |
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Products/ Services : |
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GENERAL INFORMATION
|
Customers : |
v Chennai Petroleum Corporation Limited, Manali v
Cochin Refineries Limited, v Hindustan Petroleum Corporation Limited, Vizag v Indian Oil Corporation Limited, Haldia v Indian Oil Corporation Limited, Guwahati v Indian Oil Corporation Limited, Barauni v Indian Oil Corporation Limited, Digboi v Indian Oil Corporation Limited, Trichirappalli v
Indian Oil Corporation Limited, v
Mitsubishi Heavy Industries Limited, v
Nagarjuna Fertilizers and Chemicals Limited, v Petro Araldite Private Limited, Chennai v
Reliance Industries Limited, v Tamilnadu Petroproducts Limited, Manali, Chennai v Thapar Dupont India Limited, Chennai v Andhra Pradesh Power Generation Corporation Limited, Bhoppalapalli v Arkay Energy Limited, Chennai v
Aryan Coal Benefications Private Limited, v
Bihar Caustics and Chemicals Limited, v Binani Cement Limited, Rajasthan v Chemplast Sanmar, Karaikal v Avalon Technologies Private Limited, Chennai v Khivraj Tech Park Private Limited, Chennai v Lavina Estates Private Limited, Mumbai v
Oberon Edifices and Estates Private Limited, v Shriram Properties And Infrastructure Private Limited, Chennai v
Sri Sapthgiri Srinivasa Trust, v
Alstom Turbo Power Systems, v
Bharat Heavy Electricals Limited, v
Bharat Heavy Electricals Limited, v
Doosan v
Fluor Amec LLC, v Indian Oil Tanking Limited, Mumbai v Larsen and Toubro Limited, Mumbai v
Larsen and Toubro Limited, v Janakiraman Mills Limited, Rajapalayam v
Jay Textiles Limited (LMW Group), v Madanapalli Mills Limited, Madanapalli v
Mecwel Constructions, v Premier Mills Limited, Udumalpet v
Premier Polytronics Limited, |
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No. of Employees : |
Information declined by the Management |
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Bankers : |
v State Bank of v IDBI Bank
Limited, Plot No.7, v State Bank of |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Varma and Varma Chartered Accountants |
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Address : |
Sreela Terrace, Level-4, Unit-D, 105 First Main Road, Gandhi Nagar,
Adyar, Chennai – 600 020, |
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Income-tax
PAN of auditor or auditor's firm : |
AABFV9555E |
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Holding Company
: |
UTC Fire and Security Singapore Pte Limited, |
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|
|
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Enterprises in which the Key management personnel
and his relatives have substantial interest : |
v Code Red Electronics
and Security Systems Private Limited v Connect Plus
Private Limited v EPO Tech India
Private Limited |
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|
|
|
Enterprises which are under common control : |
v UTC Fire and
Security India Limited v Otis Elevators
India Limited v Carrier
Air-conditioning and Refrigeration Limited |
CAPITAL STRUCTURE
As on 23.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4153000 |
Equity Shares |
Rs.10/- each |
Rs.41.530
millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
41.530 |
41.530 |
38.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
278.499 |
264.404 |
167.037 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
320.029 |
305.934 |
205.037 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
399.680 |
397.697 |
196.563 |
|
|
2] Unsecured Loans |
232.258 |
20.000 |
10.000 |
|
|
TOTAL BORROWING |
631.938 |
417.697 |
206.563 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
951.967 |
723.631 |
411.600 |
|
|
|
|
|
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|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.142 |
40.957 |
35.583 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
1.682 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.908 |
0.908 |
|
|
DEFERRED TAX ASSETS |
16.694 |
3.345 |
2.882 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
57.142
|
59.229 |
71.747 |
|
|
Sundry Debtors |
1138.740
|
871.765 |
621.917 |
|
|
Cash & Bank Balances |
87.616
|
72.390 |
46.289 |
|
|
Other Current Assets |
265.346
|
187.332 |
36.302 |
|
|
Loans & Advances |
38.627
|
39.956 |
38.684 |
|
Total
Current Assets |
1587.471
|
1230.672 |
814.939 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
444.152
|
338.741 |
307.887 |
|
|
Other Current Liabilities |
161.165
|
149.330 |
80.671 |
|
|
Provisions |
92.023
|
64.180 |
55.836 |
|
Total
Current Liabilities |
697.340
|
552.251 |
444.394 |
|
|
Net Current Assets |
890.131
|
678.421 |
370.545 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
951.967 |
723.631 |
411.600 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
1790.400 (Gross Turnover)
|
1451.177 |
1031.111 |
|
|
|
Other Income |
NA |
14.948 |
10.012 |
|
|
|
TOTAL (A) |
NA |
1466.125 |
1041.123 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
NA |
893.876 |
638.258 |
|
|
|
Contract cost |
NA |
236.267 |
188.168 |
|
|
|
Employee related expenses |
NA |
79.836 |
55.197 |
|
|
|
Administrative selling other expenses |
NA |
94.477 |
43.091 |
|
|
|
TOTAL (B) |
NA |
1304.456 |
924.714 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
158.669 |
116.409 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL EXPENSES (D) |
NA |
43.757 |
25.804 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
114.912 |
90.605 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
NA |
4.981 |
3.690 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
31.400 |
109.931 |
86.915 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.305 |
40.584 |
32.251 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.095 |
69.347 |
54.664 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
202.357 |
133.010 |
86.750 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
NA |
0.000 |
8.404 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
202.357 |
133.010 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.39 |
16.70 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
4.73 |
5.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
7.58 |
8.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
|
8.64 |
10.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.36 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.97
|
1.37 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28
|
2.23 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
444.152
|
338.741 |
307.887 |
|
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 |
Yes |
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
232.258 |
20.000 |
|
\Total
|
232.258 |
20.000 |
ACQUISITION OF MAJORITY STAKE BY UTC:
As the members
are aware, UTC Fire and Security Singapore Pte Limited, a
CONVERSION INTO PRIVATE COMPANY:
As per the
Special resolution passed in the Extraordinary General Meeting held on 15th
March, 2012, the Company was converted into Private Limited Company with effect
from 1st June, 2012 and the fresh Certificate of Incorporation has
been obtained from the Registrar of Companies, Chennai.
FINANCIAL PERFORMANCE:
There was an
increase of approximately 22% in the Gross Turnover from Rs.1466.700 millions
last year to Rs.1790.400 millions in the current year. Profit before Tax has
decreased to Rs.31.400 millions from Rs.109.900 millions in 2010-11. With the
acquisition of majority stake by UTC, they hope that they will be able to
achieve better results in the next financial year.
FIXED ASSETS:
v Buildings
v Plant and Equipment
v Furniture and Fixtures
v Vehicles
v Office Equipment
v Computer Equipments
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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.