MIRA INFORM REPORT
|
Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARYAN PUMPS AND ENVIRO SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
Survey No. 38/2/1, Narhe Road, Near Pari Company, Narhe Gaon, Taluka Haveli, Pune – 411041, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.10.2013 |
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Com. Reg. No.: |
11-149326 |
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Capital
Investment / Paid-up Capital : |
Rs.9.500 Millions |
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CIN No.: [Company Identification
No.] |
U74999PN2013PTC149326 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of jetting and suction machinery along with providing
related allied services. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject was erstwhile established in the year 2003 as a partnership
concern in the name of “BOBALATT ASSOCIATION”. Later in October 31, 2013 it
was reconstituted as a private limited company. The company possesses a moderate financial profile marked by small net
worth base, low gearing and adequate debt protection metrics. Management has witnesses an acceptable revenue base and minimal net
profitability from its modest scale of operations during FY 2014. The ratings also take into consideration the geographically
concentrated revenue profile along with its presence in the fragmented
industry, slightly mitigated by the growing prospects of the business as a
result of prime minister’s “CLEAN INDIA CAMPAIGN” which may boost the whole
cleanliness, waste management and sanitation industry. Trade relations are seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of experienced promoters majorly serving government, semi government
and municipal authorities in Maharashtra, the company can be considered for
business dealings 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go
slowly on talks over coal supply contracts, uncertainty over cancellation of blocks
weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn Business Empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M a M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest Euro 100
mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that it had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations |
|
Date |
04.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
04.02.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. S.B. Patil |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-8600123338 |
|
Date : |
04.11.2014 |
LOCATIONS
|
Registered Office /
Development Centre : |
Survey No. 38/2/1, Narhe Road, Near Pari Company, Narhe Gaon, Taluka Haveli, Pune – 411041, Maharashtra, India |
|
Tel. No.: |
91-20-65402008 |
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Mobile No.: |
91-8600123338 (Mr. S.B. Patil) |
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Fax No.: |
91-20-24251776 |
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E-Mail : |
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Website : |
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Corporate Office : |
S. No. 10, Shriniwas
Aparments, Flat No. 502/503, 5th Floor, Patwardhan Baug, Erandwane, Pune – 411004, Maharashtra, India |
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Tel. No.: |
91-20-25454807 |
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Fax No.: |
91-20-25454640 |
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Service Centers : |
Located At:
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DIRECTORS
|
Name : |
Mr. Prashant Subhash Sutar |
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Designation : |
Director |
|
Address : |
Kanchan Heights, Flat No 702, A Wing, S No.117, A-2 B, Parvati,
Sinhadag Road, Pune - 411030, Maharashtra, India |
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Date of Birth/Age : |
05.12.1973 |
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Date of Appointment : |
31.10.2013 |
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DIN No.: |
02253716 |
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Name : |
Mr. Umesh Shrimant Patil |
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Designation : |
Director |
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Address : |
Mangalmurti Complex, Bldg No. 1, Wing A, Flat - 15, Next To Deepak Nitrate
Limited, Sinhagad Road, Pune - 411030, Maharashtra, India |
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Date of Birth/Age : |
01.06.1970 |
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Date of Appointment : |
31.10.2013 |
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DIN No.: |
02362323 |
KEY EXECUTIVES
|
Name : |
Mr. S.B. Patil |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Prashant Subhash Sutar |
|
6000 |
|
Umesh Shrimant Patil |
|
1500 |
|
Deepa Prashant Sutar |
|
500 |
|
Sunita Subhash Sutar |
|
500 |
|
Pavan Ashok Shardul |
|
500 |
|
Ashalata Umesh Patil |
|
500 |
|
Ganesh Shrimant Patil |
|
500 |
|
Total |
|
10000 |
As on 05.03.2014
|
Names of Allottees |
|
No. of Shares |
|
Prashant Subhash Sutar |
|
705000 |
|
Umesh Shrimant Patil |
|
235000 |
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Total |
|
940000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of jetting and suction machinery along with providing
related allied services. |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C and Cheque |
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Purchasing : |
L/C and Cheque |
GENERAL INFORMATION
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No. of Employees : |
200 (Approximately) |
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Bankers : |
Bank of Maharashtra, Pune Main Branch, "Lokmangal,, Shivaji Nagar, Pune, Maharashtra - 411005, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A S Padhye and Associates Chartered Accountants |
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Address : |
Tapascharya 381/C, Shaniwar Peth, Pune – 411030, Maharashtra, India |
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PAN No.: |
AAPFA0636F |
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Related Parties : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs.9.500 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2014 (5 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
9.500 |
|
(b) Reserves & Surplus |
|
|
13.522 |
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(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
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(2) Share Application money pending
allotment |
|
|
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
|
|
23.022 |
|
|
|
|
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
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|
17.666 |
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(b) Deferred tax liabilities (Net) |
|
|
153.398 |
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(c) Other long term
liabilities |
|
|
0.431 |
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(d) long-term
provisions |
|
|
1.556 |
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Total Non-current
Liabilities (3) |
|
|
173.051 |
|
|
|
|
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4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
9.836 |
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(b) Trade
payables |
|
|
75.327 |
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(c) Other
current liabilities |
|
|
65.699 |
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(d) Short-term
provisions |
|
|
31.508 |
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Total Current
Liabilities (4) |
|
|
182.370 |
|
|
|
|
|
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TOTAL |
|
|
378.443 |
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II.
ASSETS |
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|
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(1)
Non-current assets |
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|
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(a) Fixed
Assets |
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|
|
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(i)
Tangible assets |
|
|
101.918 |
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(ii)
Intangible Assets |
|
|
0.000 |
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(iii)
Capital work-in-progress |
|
|
0.000 |
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(iv)
Intangible assets under development |
|
|
0.000 |
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(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
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(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other
Non-current assets |
|
|
24.130 |
|
Total Non-Current
Assets |
|
|
126.048 |
|
|
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
38.775 |
|
(c) Trade
receivables |
|
|
142.703 |
|
(d) Cash
and cash equivalents |
|
|
26.948 |
|
(e)
Short-term loans and advances |
|
|
12.856 |
|
(f) Other
current assets |
|
|
31.113 |
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Total
Current Assets |
|
|
252.395 |
|
|
|
|
|
|
TOTAL |
|
|
378.443 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 (5 Months) |
||
|
|
SALES |
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||
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|
|
Income |
|
|
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Other Income |
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|
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|
|
|
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TOTAL |
|
|
192.203 |
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|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
171.430 |
||
|
|
|
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|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
|
20.773 |
||
|
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|
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||
|
Less |
TAX |
|
|
7.251 |
||
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|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
|
|
13.522 |
||
|
|
|
|
|
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||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
0.000 |
||
|
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||
|
|
BALANCE CARRIED
TO THE B/S |
|
|
13.522 |
||
|
|
|
|
|
|
||
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IMPORTS |
|
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|
||
|
|
|
CIF value of Import |
|
|
9.394 |
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|
|
TOTAL IMPORTS |
|
|
9.394 |
||
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|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
14.23 |
||
Expected Sales (2014-2015): Rs.800.000 Millions
The above information has been parted by Mr. S.B. Patil
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 (5 Months) |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
5.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.90 |
|
|
|
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|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
1.19 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
1.38 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
|
Case Details |
||||||||||
|
Bench:- Bombay |
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|
Presentation Date:- |
09/06/2014 |
|||||||||
|
Stamp No.:- |
WPST/15095/2014 |
Filing Date:- |
09/06/2014 |
Reg. No.:- |
WP/6489/2014 |
Reg. Date:- |
10/07/2014 |
|||
|
Petitioner:- |
TPS INFRASTRUCTURE LIMITED, THROUGH EXECUTIVE DIRECTOR, WESTERN REGIONS, MUMBAI |
Respondent:- |
ARYAN PUMPS AND ENVIRO SOLUTIONS PRIVATE LIMITED (earlier
known as BOBALATT
ASSOCIATION) |
|||||||
|
Petn.Adv:- |
A R Malhotra (I3164) |
Resp. Adv.: |
0 (0) |
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District:- |
MUMBAI |
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Bench:- |
DIVISION |
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Status:- |
Pre-Admission |
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Next Date:- |
28/11/2014 |
Stage:- |
FOR ADMISSION - FRESH |
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Coram:- |
ACCORDING TO SITTING LIST ACCORDING TO SITTING LIST |
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|
Last Date:- |
10/10/2014 |
Stage:- |
FOR ADMISSION - FRESH |
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|
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|
Last Coram:- |
HON'BLE SHRI JUSTICE A.S. OKA HON'BLE SHRI JUSTICE GIRISH S. KULKARNI |
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|
Act :- |
Constitution of India |
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UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
|
SHORT TERM BORROWINGS |
|
|
Loans From Related Parties |
9.836 |
|
Total |
9.836 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10467711 |
27/03/2014 * |
221,500,000.00 |
Bank of Maharashtra |
Pune Main Branch, "Lokmangal,, Shivaji Nagar, Pune, Maharashtra - 411005, India |
C09168907 |
|
2 |
10467715 |
27/12/2013 |
40,000,000.00 |
Bank of Maharashtra |
Pune Main Branch, "Lokmangal,, Shivaji Nagar, Pune, Maharashtra - 411005, India |
B92561836 |
*Date of modification Charges
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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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.