|
Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
AEON INDIA
CORPORATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.64, Alankar
Society, Karvenagar, Pune – 411 052, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.07.2009 |
|
|
|
|
Com. Reg. No.: |
25-134395 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2009PTC134395 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Consulting in Engineering Goods. |
|
|
|
|
No. of Employees
: |
Not Available |
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 5000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file its latest financial of
2012 with Government Department. As per previous, sales and profit of the company appears to be low. Trade relations
are reported to be fair. Business is active. Payment terms are reported to be
unknown. The company can
be considered for business dealing with some caution. |
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) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another megatrend
happening. The World order is changing as economic power shifts from West to
East. According to McKinsey study, it took Britain more than 100 years to
double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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.64, Alankar
Society, Karvenagar, Pune – 411 052, Maharashtra, India |
|
Tel. No.: |
91-20-64001111/ 65003924 |
|
Fax No.: |
91-20-25410524 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Atul Vijaykumar Wagh |
|
Designation : |
Director |
|
Address : |
D-7, Sneh Paradise, Ram Baug Colony, Paud Road, Kothrud, Pune – 411
029, Maharashtra, India |
|
Date of Birth/Age : |
26.09.1967 |
|
Date of Appointment : |
29.07.2009 |
|
DIN No.: |
02706627 |
|
|
|
|
Name : |
Ms. Prachi Bhalchandra Mundhe |
|
Designation : |
Director |
|
Address : |
At Gajanan Date Nagar, Gangapur Road, Nashik – 422 001, Maharashtra,
India |
|
Date of Birth/Age : |
08.12.1981 |
|
Date of Appointment : |
29.07.2009 |
|
DIN No.: |
02707029 |
|
|
|
|
Name : |
Mr. Yogesh Bhagwat Bhangale |
|
Designation : |
Director |
|
Address : |
504, Royal Avenue, Ram Nagar Colony, Bavdhan, Pune – 411 021,
Maharashtra, India |
|
Date of Birth/Age : |
21.02.1979 |
|
Date of Appointment : |
29.07.2009 |
|
DIN No.: |
02707917 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Atul Vijaykumar Wagh |
|
9800 |
|
Prachi Mundhe |
|
100 |
|
Yogesh Bhagwat Bhangale |
|
100 |
|
Total
|
|
10000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Consulting in Engineering Goods. |
|
|
|
|
Products/ Services : |
|
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
HDFC Bank Limited,
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gokhale and Gokhale Chartered Accountants |
|
Address : |
Flat No.1, Heramb Apartments, Shaniwar Peth, Pune – 411 030,
Maharashtra, India |
|
PAN No.: |
AABFG1190K |
|
|
|
|
Affiliates : |
Enercon
Technologies Address: I-5, Saket Housing Society, Shivtirth Nagar, Paud Road,
Kothurd, Pune – 411 038, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each
|
Rs.0.100
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1.038 |
0.048 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1.138 |
0.148 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
1.226 |
0.348 |
|
|
TOTAL BORROWING |
|
1.226 |
0.348 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.364 |
0.499 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.314 |
0.080 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.025 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.723 |
0.000 |
|
|
Cash & Bank Balances |
|
0.370 |
0.148 |
|
|
Other Current Assets |
|
0.017 |
0.017 |
|
|
Loans & Advances |
|
1.690 |
0.069 |
|
Total
Current Assets |
|
2.800 |
0.234 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.663 |
0.080 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
1.334 |
0.031 |
|
Total
Current Liabilities |
|
1.997 |
0.111 |
|
|
Net Current Assets |
|
0.803 |
0.123 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.222 |
0.296 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.364 |
0.499 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
13.754 |
0.005 |
|
|
|
Other Income |
|
3.225 |
0.909 |
|
|
|
TOTAL (A) |
|
16.979 |
0.914 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
|
8.588 |
0.000 |
|
|
|
Operating and Other Expenses |
|
6.437 |
0.760 |
|
|
|
Preliminary Expenses written off |
|
0.074 |
0.074 |
|
|
|
TOTAL (B) |
|
15.099 |
0.834 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
1.880 |
0.080 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1.880 |
0.080 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
|
0.368 |
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
1.512 |
0.070 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.522 |
0.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
0.990 |
0.048 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.041 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.096 |
0.007 |
|
|
BALANCE CARRIED
TO THE B/S |
|
0.935 |
0.041 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
99.00 |
4.80 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
5.83 |
5.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
10.99 |
7.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
36.75 |
22.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.33 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.08 |
2.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.40 |
2.11 |
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 |
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 two years |
Yes |
|
12) Profitability for last two 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 |
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 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10360594 |
02/06/2012 |
5,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B41618398 |
OPERATIONS AND FUTURE PROSPECTS
The company‘s financial performance has been satisfactory in the year.
FIXED ASSETS:
·
Car Skoda
·
Computers
·
Furniture
·
Laptop
·
Telephone Instrument
·
Welding Machine
WEBSITE DETAILS:
PROFILE:
Subject, is founded
and managed by professional from fields of Chemical and Mechanical Engineering.
With a vast and varied experience of the industry, they at subject, work
together dedicatedly towards the development of new and innovative technologies
and products, commercialization of these products, and supplying them to their
clients, in the different industries.
Subject Pune is one
of the leading Process Technology house. They have in house technology to
supply unit operations for Chemical Process Plants, Distillery, Breweries,
Pharmaceuticals, Dairy and Food Processing Units World wide. Their vast
database of various plants and products allows them to develop customer
specific solutions by applying tailor made process schemes and customised
systems.
SERVICES:
All the Industries,
that subject, caters to, has various divisions to be handled. They can help the
clients solve any issues regarding any aspect of the Industry.
They have the
following services available with us:
1.
Preparation
of preliminary and detailed project reports, for bank approvals, and regulatory
clearances.
2.
Basic
Process design, mechanical design, and design and drawing documentation,
alongwith assistance in Erection and commissioning, is done in association with
the client. This includes conceptulaization of the process, finalization of
different vendors, cost reduction, revalidation of all data submitted by final
supplier, regulatory documentation assistance, and so on.
3.
Simulation
of Process Equipments , for Process related parameters on high-end software, to
compare or generate result that can be verifed with actual performance data.
4.
Mechanical
design and strength calculations, for any equipment, to assure the right design
and performance of the equipment.
5.
Piping
Stress Analysis, for various Industries, using Caesar-II, and other related
softwares.
6.
Design
of various basic parameters for the operation of a plant, under different
operating services.
7.
Design
and Conceptualization of a process, based on available data, previous
experience, and actual trials and experiments.
Piping Engineering
and its various aspects, for Plant layout, Piping design and so on, are the
various services that can be offered by Subject, in the interest of development
of the Industry.
Speciality Services for Drawings and Documentation:
1.
Process
and Instrumentation Diagram - P & I D
2.
Plant
Layout
3.
Equipment
Layout
4.
Process
Flow Diagrams
5.
Equipment
Drawings
6.
Fabrication
Drawings
7.
Piping
Isometrics
8.
Instrument
layout and hook up
9.
Electrical
Layout and hook up
10.
Foundation
Drawings
11.
Cut out
Drawings
12.
Erection
Set ups
13.
Piping
Stress Analysis
14.
Equipment
Stress Analysis
15.
Piping
Network Analysis
16.
Civil
Layouts
17.
Civil /
Mechanical / Electrical / Instrumentation /
18.
Process
Design
19.
Effluent
Treatment Schemes , Design and Layout
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.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
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.