MIRA INFORM REPORT
|
Report Date : |
25.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANKIT EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.113D, Bommasandra Industrial Area, Hebbagods, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.08.1996 |
|
|
|
|
Com. Reg. No.: |
08-021041 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.120 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29150KA1996PTC021041 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA06244A |
|
|
|
|
TIN No.: |
29430097697 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA6453G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and exporter
of all types of cranes and hoists. |
|
|
|
|
No. of Employees
: |
67 (Approximately) (In Office 15) (In Factory 52) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 9000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management of the company has failed to file its financials with the
government department for the year 2012. As per previous year’s record, the
profitability of the company appears to be low. However, trade relations are
reported as fair. Business is active. Payments are reported to be unknown. The company can be considered for business dealings with some caution.
Note: Banker reported
that the company maintains proper and good relation with the bank. |
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) |
|
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 is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
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 (GENERAL DETAILS)
|
Name : |
Ms. Smita |
|
Designation : |
Key Executive |
|
Contact No.: |
91-80-27833697 |
|
Date : |
23.03.2013 |
LOCATIONS
|
Registered Office/ Factory/ Head Office/ Corporate Office : |
Plot No.113D, Bommasandra Industrial Area, Hebbagods, |
|
Tel. No.: |
91-80-27831643/ 26685846 |
|
Mobile No.: |
91-9880050016 (Mr. Sasidharan) |
|
Fax No.: |
91-80-26685846 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
45000 sq ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Plot No.18 and 19, 42nd Main, 4th Cross, BTM II
Stage, |
|
Tel. No.: |
91-80-26685846 |
|
Area : |
3800 sq ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sasidharan Gopalkrishnan Chandralayam |
|
Designation : |
Director |
|
Address : |
No.18, and 19, Sri Lakshmi, 42nd Main, 4th
Cross, BTM Layout, Bangalore – 560 068, Karnataka, India |
|
Date of Birth/Age : |
06.10.1950 |
|
Qualification : |
Degree in electrical engineering from regional engineering college, |
|
Date of Appointment : |
26.08.1996 |
|
DIN No.: |
02776024 |
|
|
|
|
Name : |
Mr. Birla Sekaran Kalasamy |
|
Designation : |
Director |
|
Address : |
2/695, NGOS Colony, Second Main, Hosur – 635 109, |
|
Date of Birth/Age : |
09.05.1961 |
|
Qualification : |
Degree in mechanical engineering from |
|
Date of Appointment : |
26.08.1996 |
|
DIN No.: |
02817829 |
|
|
|
|
Name : |
Mr. Gopinathan Vellolil |
|
Designation : |
Director |
|
Address : |
No.3, Site No.14, Jayamma Nivas, Honga Sandra Main, G B Palya,
Bangalore – 560 068, Karnataka, India |
|
Date of Birth/Age : |
26.06.1957 |
|
Qualification : |
Bachelor Degree in science from |
|
Date of Appointment : |
26.08.1996 |
|
DIN No.: |
02775962 |
|
|
|
|
Name : |
Mr. Hari Raju Madiraju |
|
Designation : |
Director |
|
Address : |
NC-254 Vijaya Enclave, Bilekally Sundaram Shetty Nagar, |
|
Date of Birth/Age : |
01.06.1964 |
|
Date of Appointment : |
26.08.1996 |
|
DIN No.: |
02775904 |
KEY EXECUTIVES
|
Name : |
Ms. Smita |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sasidharan Gopalkrishnan Chandralayam |
|
20 |
|
Birla Sekaran Kalasamy |
|
20 |
|
Gopinathan Vellolil |
|
20 |
|
Kalai Selvi |
|
20 |
|
Kanchana Gopinathan |
|
20 |
|
Vasanthi |
|
20 |
|
|
|
|
|
Total |
|
120 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter
of all types of cranes and hoists. |
|
|
|
|
Products : |
v
Electric Hoist v
Electric Wire Rope Hoist v
Monorail Hoist v
Monorail Hoist Crane v
Electric Winch v
EOT Cranes v
Over head Crane v
Industrial EOT Crane, v
Single Girder EOT Cranes v
Double Girder Cranes |
|
|
|
|
Exports : |
|
|
Products : |
v Finished Goods |
|
Countries : |
v Nigeria v Bangladesh |
|
|
|
|
Imports : |
|
|
Products : |
v Raw Materials |
|
Countries : |
v China v Korea |
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
67 (Approximately) (In Office 15) (In Factory 52) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
v Bank
of v Bank of India, SSI Branch, Bangalore, Karnataka, India Contact No.: 91-9426339042 v ABN Amro Bank v Barclays Bank v ICICI Bank Limited v Standard Chartered Bank v Citi Bank N.A. v HDFC
Bank Limited, v South Indian Bank Limited, Tel. No.: 91-80-65627339 |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jayatheertha and company Chartered Accountants |
|
Address : |
# 337/1A, 18th Cross, |
|
Income-tax
PAN of auditor or auditor's firm : |
AANPJ4180B |
|
|
|
|
Sister Concern : |
E-max Inc. Address: No.83/3, Ramchandra Reddy Building, Bommasandra Industrial
Area, Bangalore - 560099, Karnataka,
India Activity: Dealer of components. |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500 |
Equity Shares |
Rs.1000/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120 |
Equity Shares |
Rs.1000/- each |
Rs.0.120 Million |
|
|
|
|
|
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 |
0.120 |
0.104 |
0.104 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.025 |
1.582 |
1.257 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.145 |
1.686 |
1.361 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.390 |
4.538 |
4.707 |
|
|
2] Unsecured Loans |
0.507 |
0.326 |
0.692 |
|
|
TOTAL BORROWING |
5.897 |
4.864 |
5.399 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.042 |
6.550 |
6.760 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.926 |
2.231 |
1.656 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.172
|
3.523
|
5.666
|
|
|
Sundry Debtors |
21.192
|
15.507
|
14.708
|
|
|
Cash & Bank Balances |
2.897
|
2.216
|
1.328
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
5.527
|
1.660
|
3.516
|
|
Total
Current Assets |
41.788
|
22.906 |
25.218 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.239
|
9.124
|
12.027
|
|
|
Other Current Liabilities |
18.224
|
9.308
|
7.823
|
|
|
Provisions |
0.209
|
0.155
|
0.264
|
|
Total
Current Liabilities |
36.672
|
18.587 |
20.114 |
|
|
Net Current Assets |
5.116
|
4.319
|
5.104
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.042 |
6.550 |
6.760 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
86.316 |
75.950 |
81.149 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
85.664 |
|
80.456 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
85.664 |
75.471 |
80.456 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.652 |
0.479 |
0.693 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
NA |
0.264 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.652 |
NA |
0.429 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5433.00 |
4605.77 |
4125.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.76
|
NA
|
0.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.46
|
1.91
|
2.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.28
|
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.75
|
2.88
|
3.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.23
|
1.25 |
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 |
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 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 |
No |
|
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 |
UNSECURED LOANS
(Rs.
In Millions)
|
|
31.03.2011 |
31.03.2010 |
|
From Directors and their relatives |
0.339 |
0.159 |
|
From Others |
0.168 |
0.167 |
|
|
|
|
|
Total |
0.507 |
0.326 |
Note:
The Registered office address of the company has been shifted from
168/2, Kudlu, Off
FINANCIAL RESULTS:
During the current
year the company’s order book position has substantially been improved. The
company hopes to double the turnover in the coming year. The products and
services rendered by the company are well received in the market and we have
received good enquires for our products.
FIXED ASSETS
v Computer
v Office Equipment
v Plant and Machinery
v Tools and Dies
v Furniture and Fixtures
v Mobile Phones
v Vehicle
v Mobile Crane
v Mini Tempo Force
v Land
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.54.34 |
|
|
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.