MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

AKONA ENGINEERING PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

300 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of building construction machinery and ready mix concrete.

 

 

Products :

·         Fully Automatic Computerized  Batching and Mixing Plant

·         Drum Type Concrete Batching and Mixing Plant

·         Mini Mobile Concrete and Batching Plant

·         Mini Mobile Concrete Batching and Mixing Plant with 3-Bins

·         Pan Type Concrete Batching and Mixing Plant 

·         Concrete Mixer Machines

·         Builder Hoist

·         Road Roller

·         Hot Mix Plant

·         Weigh Batcher and Related Spare Parts

 

PRODUCTION STATUS (31.03.2011):

 

Particulars

Unit

Actual Production

Batching Plants

Set

105

Mini Mobile/ Mixture Machine

Set

137

Builder Hois

Set

22

Road Roller

No.

6

Concrete Pump

Set

3

 

 

GENERAL INFORMATION

 

No. of Employees :

300 (Approximately)

 

 

Bankers :

·         ICICI Bank Limited, Land Mark Race Course Circle, Vadodara – 390 007, Gujarat, India

·         Bank of Baroda, Shastri Nagar, Ghaziabad – 201 001, Uttar Pradesh, India

·         HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India

·         Punjab National Bank, Branch Rudki, Ghaziabad, Uttar Pradesh, India

·         Small Industries Development Bank of India, C-60, Sector-2, Noida – 201 301, Uttar Pradesh, India

·         Kotak Mahindra Bank Limited

·         Andhra Bank

 

 

Facilities :

Secured Loans

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

LONG-TERM BORROWINGS

 

 

Term Loan

 

 

From SIDBI

0.000

1.850

From Others

0.000

0.157

Vehicle Loan

 

 

From Bank

1.528

0.252

From Others 

0.271

0.021

SHORT-TERM BORROWINGS

 

 

Working Capital Facilities

 

 

Form Bank

35.034

19.344

Total

36.833

21.624

 

Notes:

 

Long-Term Borrowings

 

Term Loan from SIDBI is secured by way of hypothecation of all movable assets including plant and machinery, equipment, machinery spares, tools and accessories, office equipment, computers, furniture and fixture and miscellaneous fixed assets. And are secured by first charge by way of mortgage of immovable property of residential building no.59, New Gandhi Nagar, Ghaziabad (U.P.). The said loans are further secured by irrevocable and unconditional personal guarantee of Mr. Ram Bharose Rathore and Mr. Anand Rathore Directors of the Company.

 

The term loan from SIDBI carries interest rate @0.75% above SIDBI’s PLR. The current SIDBI PLR being 12.75%.

 

The term loan is repayable in 48 monthly installments each of Rs.0.313 million after a moratorium of 12 months from the date of first disbursement.

 

Vehicle loan from Banks and others are secured by way of hypothecation of specified vehicle and carries interest rate 10.75% to 13%.

 

Short-Term Borrowings

 

Working Capital Loan from Bank is primary secured by equitable mortgage of Factory Land and Building situated at Khasra No.200, Village Raipur, Post Bhagwanpur, District Haridwar, Uttarakhand in the name of Akona Engineering Private Limited and Land and Building at A-455, Hycon House, Hindon Vihar, Meerut Road, Ghaziabad in the name of Mrs. Kamla Sahu and first and exclusive charged on present and future current assets of the company and personal guarantee of all the Directors.

 

The working capital loan carries interest rate @ 3.75% over base rate i.e. 13.75% p.a. present on monthly rates.

 

Unsecured Loans

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

 

 

 

SHORT-TERM BORROWINGS

 

 

Loan from related party

(Unsecured loan from related party is interest free loan and is repayable on demand)

0.000

1.008

Total

0.000

1.008

 

 

--

Banking Relations :

 

 

 

Auditors :

 

Name :

Arun K. Gupta and Associates

Chartered Accountants

Address :

D-58, East of Kailash, New Delhi – 110 065, India

Tel No.:

91-11-26287884

Fax No.:

91-11-26472939

E-Mail :

akgassociates@gmail.com

Income-tax PAN of auditor or auditor's firm

AAOPG5265F

 

 

Enterprises owned or significantly influenced by key management personnel or their relatives :

·         Anand Engineering Corporation

·         Hycon

·         Mohan Engineering Corporation

·         Akona Infrastructure Private Limited

·         Akona Pathwari Infrastructure Private Limited

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2013

 

Names of Shareholders

 

 

No. of Shares

Ram Bharose Rathore

 

614450

Kamla Rathore

 

23000

Anand Rathore

 

332500

Dhan Singh

 

50

Neelam Rathore

 

30000

 Total

 

1000000

 

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

10.000

10.000

4.025

(b) Reserves & Surplus

44.387

40.300

37.417

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

54.387

50.300

41.442

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

1.799

2.280

9.979

(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)

1.799

2.280

9.979

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

35.034

20.352

11.946

(b) Trade payables

46.235

52.109

30.671

(c) Other current liabilities

18.170

21.739

27.653

(d) Short-term provisions

1.065

0.800

0.000

Total Current Liabilities (4)

100.504

95.000

70.270

 

 

 

 

TOTAL

156.690

147.580

121.691

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

56.386

37.886

47.803

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

1.497

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)

1.993

1.452

0.425

(d)  Long-term Loan and Advances

0.907

0.826

0.000

(e) Other Non-current assets

0.130

5.588

3.503

Total Non-Current Assets

60.913

45.752

51.731

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

33.536

35.888

7.682

(c) Trade receivables

54.184

51.733

54.117

(d) Cash and cash equivalents

2.138

6.080

4.426

(e) Short-term loans and advances

5.884

8.112

3.735

(f) Other current assets

0.035

0.015

0.000

Total Current Assets

95.777

101.828

69.960

 

 

 

 

TOTAL

156.690

147.580

121.691

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from Operations (Net)  

275.620

249.377

279.819

 

 

Other Income

0.912

0.859

0.165

 

 

TOTAL                                    

276.532

250.236

279.984

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Office Expenses

271.382

246.780

271.096

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

271.382

246.780

271.096

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

5.150

3.456

8.888

 

 

 

 

 

Less

TAX                                                     

1.063

0.573

0.558

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

4.087

2.883

8.330

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

4.09

2.88

20.70

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

350.000

 

 

 

 

 

The above information has been parted by Mr. Sunil Rawat (Finance Department).

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered Office :

WZ-23/A, Gali No.32, Santgarh, New Delhi – 110 018, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

akona_accounts@yahoo.com

rsassociate@gmail.com

rsa.fcs@gmail.com 

cs.rsmco@gmail.com

info@akonahycon.com

info@akonaindia.com

info.rsmco@gmail.com

Websites:

http://www.akonaengineers.com

Location :

Owned

 

 

Factory 1 :

A-455, Hycon House, Behind Hindon Motels, Hindon Vihar, Delhi Meerut Road, Ghaziabad – 201 001, Uttar Pradesh, India

Tel. No.:

91-120-4536700/ 2833334/ 4536712

Fax No.:

91-120-2854742

 

 

Factory 2 :

Khasra No.200, Village Raipur, Post Bhagwanpur, District Haridwar, Uttarakhand, India

 

 

Branch Office :

Located at:

 

·         Raipur

·         Patna

·         Punjab

·         Lucknow

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.