MIRA
INFORM REPORT
|
Report Date : |
20.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ABC COMPRESSORS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.16, S.
No. 282, Hissa No.2, Near Hinjewadi, IT Park Ph-II, Raisoni Industrial Park Maan,
Tal Mulshi, Pune – 411057, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.07.2011 |
|
|
|
|
Com. Reg. No.: |
11-140245 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.664
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199PN2011FTC140245 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Marketing, Wholesale Trading, Importing, Exporting
and to otherwise deal in compressors for the PET blow molding applications,
Reciprocating compressors, Hydrogen Recycle Compressors, non‐lubricated cylinder compressor packages, Compressor units for biogas
filling, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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 business operations |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new company incorporated on July 2011 and yet to commence
its business operations. It is a subsidiary of “ABC Compressors - Arizaga, Bastarrica Y Cia, S.A.” The company is still in the stage of
setting of its operations and has not started its commercial activities in
full-swing and is in the process of finalizing the vendors. There appear some
pre operative expenses incurred during 2012. However, payment terms are unknown. The company can be considered for business
dealings on a safe and secured trade terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office : |
Plot No.16, S. No.
282, Hissa No.2, Near Hinjewadi, IT Park Ph-II, Raisoni Industrial Park Maan,
Tal Mulshi, Pune – 411057, Maharashtra, India |
|
Tel. No.: |
91-20-64731585 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Carlos Martin Andres |
|
Designation : |
Director |
|
Address : |
C. Pepe Artola 54, Donostia, N.A. |
|
Date of Birth/Age : |
02.11.1968 |
|
Date of Appointment : |
25.07.2011 |
|
DIN No.: |
03526669 |
|
|
|
|
Name : |
Lucio Arizaga Suinaga |
|
Designation : |
Director |
|
Address : |
C. Herrikosoro, 91, PBj Guipuzcoa N.A. Zarautz |
|
Date of Birth/Age : |
03.12.1965 |
|
Date of Appointment : |
25.07.2011 |
|
DIN No.: |
03526675 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arizaga Bastarrica Y Compania S.A., |
|
166357 |
|
Rajesh Karnik |
|
1 |
|
|
|
|
|
Total |
|
166358 |
AS ON 07.12.2012
|
Names of Allottee |
|
No. of Shares |
|
Arizaga Bastarrica Y Compania S.A., |
|
183642 |
|
|
|
|
|
Total |
|
183642 |
AS ON 29.09.2012
|
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] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Marketing, Wholesale Trading, Importing,
Exporting and to otherwise deal in compressors for the PET blow molding applications,
Reciprocating compressors, Hydrogen Recycle Compressors, non‐lubricated cylinder compressor packages, Compressor units for biogas
filling, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pooja Chandak and Associates Chartered Accountants |
|
Address : |
Office No. 203, Mangalmurti Complex 990, Shukrawar Peth, Tilak Road, Hirabaug
Chauk, Pune – 411002, Maharashtra, India |
|
Tel. No.: |
91-20-24463486/ 87 |
|
Mobile No.: |
91-9552661299/ 7588500493 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AANFP4121E |
|
|
|
|
Holding Company : |
Arizaga Bastarrica Y Compania S. A. |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500 Millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500 Millions |
|
|
|
|
|
Issued & Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
166,358 |
Equity Shares |
Rs. 10/- each |
Rs. 1.664
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
1.664 |
|
(b) Reserves & Surplus |
|
|
(0.863) |
|
(c) Money received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long
term liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
0.000 |
|
|
|
|
|
|
(4)
Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
|
0.000 |
|
(b) Trade
payables |
|
|
0.008 |
|
(c)
Other current liabilities |
|
|
0.325 |
|
(d) Short-term
provisions |
|
|
0.000 |
|
TOTAL |
|
|
1.134 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
0.000 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e)
Other Non-current assets |
|
|
0.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
0.283 |
|
(d) Cash and cash equivalents |
|
|
0.736 |
|
(e) Short-term loans and advances |
|
|
0.015 |
|
(f) Other current assets |
|
|
0.019 |
|
TOTAL |
|
|
1.134 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
|
0.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
1.526 |
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX |
|
|
(0.863) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX |
|
|
(0.863) |
|
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
|
|
(20.75) |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
(130.17) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
(76.10) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
(1.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
3.16 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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] |
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 |
COMPANY OVERVIEW
The company is primarily engage in the business of manufacturing, marketing, wholesale trading, importing, exporting and to otherwise deal in compressors for the PET blow molding applications, Reciprocating compressors, Hydrogen Recycle Compressors, non‐lubricated cylinder compressor packages, Compressor units for biogas filling, natural gas compressors for cogeneration plants, compressors with lubrication‐free cylinders, Compressors for compressing natural gas for supplying fuel to gas‐fired turbines and pressurizing gas networks, Compressor Units, Packages and solutions for a multitude of gas applications including Nitrogen, Carbon, Argon, Hydrogen And Other Industrial And Natural Gases also to provide customized, made‐to‐order, adapting compression solutions and packages for petrochemicals, waste water treatment, natural gas and industrial gases, and to provide the complete compressor package as per the requirements of the Industry including compressor, motor, electrical cabinet, air receiver, and refrigerated dryer, Electrical connections and cabling, pneumatics, refrigeration and also provide technical support and training in the use and maintenance of machine, machine upgrades and after sales services to maintain and update equipments along the entire life of the compressor and also to manufacture and distribute all spare and replacement parts for its compressors and provide for customized maintenance contracts, machine rentals, consumption audits and other special services in India or abroad.
OPERATIONS
AND FUTURE PROSPECTS:
This was
the first financial year of the company, the company is still in the stage of
setting of Its operations and hasn't started its commercial activities in
full-swing and is in the process of finalizing the vendors. The Directors of
the company are hopeful of starting the commercial operations in the financial
year 2012-13.
The
Directors of the Company are of the opinion that the future outlook of the
company is promising, primarily because of the above positive scenarios and projections
of the business of the company and the developments taking place in the
industry.
Directors
of the company are continuing to strive for the growth in the performance of
the company and are pretty confident of reporting satisfactory financial results
in the years to come.
The
company and the directors are continuously looking for avenues for further
growth of the Company and are evaluating various areas where it can fetch good
returns for the company.
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. 59.70 |
|
|
1 |
Rs. 92.22 |
|
Euro |
1 |
Rs. 79.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
1 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--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 |
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 |
|
11 |
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.