MIRA INFORM REPORT
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Report No. : |
337502 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARIES POWER SYSTEMS (INDIA) PRIVATE LIMITED |
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Registered
Office : |
#8-2-269/W/7, Plot No.7, 1st Floor, Women's Co-Operative
Society, Adj. Sagar Society, Road No.2, Banjara Hills, Hyderabad – 500 034,
Telangana |
|
Tel. No.: |
91-40-23544813/ 23544814 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.05.2009 |
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Com. Reg. No.: |
36-063617 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500 million |
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CIN No.: [Company Identification
No.] |
U40300TG2009PTC063617 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged into
importing and supplying a wide range of Boilers,
Turbines, Generators and Power Plant Equipments. |
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|
|
|
No. of Employees
: |
23 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having a satisfactory track record. During FY-2014,
the company achieved sales turnover of Rs.35.600 million as it reported
topline growth at 8.00%. The profitability stood at 7.35% backed by zero debt
balance sheet. Rating further
take into account on favorable gap between trade receivable and payables
backed by experienced promoters and sound track record of the company. Trade relations are
reported as fair. Business is active. Payment terms are reported to be
usually correct. In view of sound
operational as well as financial, the company can be considered normal for
business dealings at its usual trade terms and conditions. |
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Prasanna |
|
Designation : |
HR Department |
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Contact No.: |
91-40-23544813 |
|
Date : |
19.08.2015 |
LOCATIONS
|
Registered Office : |
#8-2-269/W/7, Plot No.7, 1st Floor, Women's Co-Operative
Society, Adj. Sagar Society, Road No.2, Banjara Hills, Hyderabad – 500 034,
Telangana |
|
Tel. No.: |
91-40-23544813/ 23544814 |
|
Fax No.: |
91-40-23544815 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Eranki Venkatasubba Rao |
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Designation : |
Managing
Director |
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Address : |
Flat
No.402, Krishe Meadows, Srinagar Colony, Hyderabad – 500 073, Telangana,
India |
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Date of Birth/Age : |
12.04.1968 |
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Date of Appointment : |
16.01.2012
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DIN No.: |
01619433 |
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Other
Directorship :
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Name : |
Mrs. Eranki Sri Surya Aparna |
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Designation : |
Whole-Time
Director |
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Address : |
Flat
No.402, Near Satya Sai Nigamagamam, Krishe Meadows, Srinagar Colony,
Hyderabad – 500 073, Telangana, India |
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Date of Birth/Age : |
20.10.1972 |
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Date of Appointment : |
16.01.2012
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DIN No.: |
02634678 |
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Other
Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Prasanna |
|
Designation : |
HR Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Eranki Venkata Subbarao |
25000 |
50.00 |
|
Eranki
Sri Surya Aparna |
25000 |
50.00 |
|
Total |
50000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20337502%2020-Aug-2015_files/image014.gif)
AS ON 29.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into
importing and supplying a wide range of Boilers,
Turbines, Generators and Power Plant Equipments. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash, Cheque and Credit (60/ 90 days) |
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Purchasing : |
Cash, Cheque and Credit (60/ 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
·
Nandan Exim Limited ·
Meenakshi Energy Private Limited ·
Pioneer Gas Power Limited ·
Navabarath Ventures Limited |
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No. of Employees : |
23 (Approximately) |
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Bankers : |
· HDFC Bank Limited · Kotak Mahindra Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
Ramakrishna and Associates Chartered Accountants |
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Address : |
# 401/1, 4th Floor, Panchasheela Towers, Park Lane,
Secunderabad – 500 003, Telangana, India |
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Tel. No.: |
91-40-30723210 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ACIPM5578S |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1) Shareholders' Funds |
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(a) Share Capital |
0.500 |
0.500 |
0.500 |
|
(b) Reserves &
Surplus |
11.489 |
8.872 |
6.143 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
11.989 |
9.372 |
6.643 |
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(3) Non-Current
Liabilities |
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(a) Long-term borrowings |
0.000 |
0.187 |
0.715 |
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(b) Deferred tax
liabilities (Net) |
0.254 |
0.284 |
0.292 |
|
(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) |
0.254 |
0.471 |
1.007 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Trade payables |
2.905 |
2.253 |
6.243 |
|
(c) Other current
liabilities |
0.183 |
0.101 |
0.158 |
|
(d) Short-term provisions |
2.306 |
2.710 |
3.750 |
|
Total Current Liabilities
(4) |
5.394 |
5.064 |
10.151 |
|
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|
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TOTAL |
17.637 |
14.907 |
17.801 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
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(i) Tangible assets |
3.612 |
4.068 |
4.275 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
0.000 |
0.031 |
0.061 |
|
Total Non-Current Assets |
3.612 |
4.099 |
4.336 |
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.079 |
1.096 |
|
(c) Trade receivables |
1.174 |
2.265 |
1.696 |
|
(d) Cash and cash
equivalents |
1.077 |
2.929 |
5.462 |
|
(e) Short-term loans and
advances |
11.161 |
4.456 |
4.576 |
|
(f) Other current assets |
0.613 |
1.079 |
0.635 |
|
Total Current Assets |
14.025 |
10.808 |
13.465 |
|
|
|
|
|
|
TOTAL |
17.637 |
14.907 |
17.801 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
32.954 |
45.792 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (GROSS) |
35.619 |
32.954 |
45.792 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
31.303 |
28.726 |
38.338 |
|
|
|
|
|
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|
|
PROFIT/ (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
4.316 |
4.228 |
7.454 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.457 |
0.380 |
0.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3.858 |
3.847 |
7.104 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.241 |
1.119 |
2.350 |
|
|
|
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|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2.617 |
2.728 |
4.754 |
|
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|
|
|
|
|
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|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
8.872 |
6.144 |
1.390 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.489 |
8.872 |
6.144 |
|
|
|
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|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
On Account of Services and Commission |
18.196 |
9.610 |
27.931 |
|
|
TOTAL EARNINGS |
18.196 |
9.610 |
27.931 |
|
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|
|
|
|
|
|
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|
VALUE OF IMPORTS
|
0.127 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
52.36 |
54.56 |
95.07 |
|
%20PRIVATE%20LIMITED%20-%20337502%2020-Aug-2015_files/image003.gif){kind=small}
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
NA |
NA |
NA |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Total Income) |
(%) |
7.35 |
8.28 |
10.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.87 |
25.81 |
39.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32 |
0.41 |
1.07 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.02 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60 |
2.13 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
6.143 |
8.872 |
11.489 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
6.643 |
9.372 |
11.989 |
|
|
|
|
|
|
Long-term borrowings |
0.715 |
0.187 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
0.715 |
0.187 |
0.000 |
|
Debt/Equity ratio |
0.108 |
0.020 |
0.000 |
%20PRIVATE%20LIMITED%20-%20337502%2020-Aug-2015_files/image016.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Gross Total Income |
45.792 |
32.954 |
35.619 |
|
|
|
(28.035) |
8.087 |
%20PRIVATE%20LIMITED%20-%20337502%2020-Aug-2015_files/image018.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Gross Total Income |
45.792 |
32.954 |
35.619 |
|
Profit |
4.754 |
2.728 |
2.617 |
|
|
10.38% |
8.28% |
7.35% |
%20PRIVATE%20LIMITED%20-%20337502%2020-Aug-2015_files/image020.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity-Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
The registered office of the company has been
shifted from 8-2-601/A-39, Road No.10, Banjara Hills, Hyderabad – 500 034, Andhra
Pradesh to the present address w.e.f.
28.10.2011.
REVIEW OF
OPERATIONS:
During this year, the Company has recorded gross total income of
Rs.35.619 million as against previous years' receipts of Rs.32.954 million and
earned net profit of Rs.2.617 million against the previous year's Net Profit of
Rs.2.728 million.
FUTURE OUTLOOK:
During the year 2014-2015, the company is expected to achieve an overall
growth of 20% over the previous financial year in terms of sales turnover and
profitability. The company is trying to penetrate into Solar Energy segment
where the prospects for high volume business are better. During the year
2013-14, the company executed Erection and commissioning contracts
successfully. The company already has sufficient order book in hand and expects
to achieve the targeted turnover and profitability without any difficulty.
INDEX
OF CHARGES:
No Charges Exist for Company.
FIXED ASSETS:
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
Vehicles
·
Air Conditioner
·
Mobile
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.65.25 |
|
UK Pound |
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.