MIRA INFORM REPORT
|
Report No. : |
338968 |
|
Report Date : |
28.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
POWERSPACK AUTOMATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, 45, Okhla Industrial Estate, Phase-III, New Delhi-110020 |
|
Tel. No.: |
91-11-41058131/ 132 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.06.2012 |
|
|
|
|
Com. Reg. No.: |
55-237461 |
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Capital
Investment / Paid-up Capital : |
Rs. 18.700 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253DL2012PTC237461 |
|
|
|
|
IEC No.: |
0512032777 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP18944C |
|
|
|
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PAN No.: [Permanent Account No.] |
AAGCP6891B |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Automotives Tooling and Fixtures. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 45000 |
|
|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Powerspack Automation Private Limited was incorporated on 14th
June 2012 and it is established company having moderate track record. For the financial year ended 2014, the company reported above an average
performance in its operational activities and reported profit. The
profitability stood at 1.14%. However, the rating constrained on the company accumulated losses
which company have incurred from is inceptions lead to deterioration in its
capital structure. Trade relations are reported to be fair. Business is active. Payments
are slow but correct. 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.
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
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 DECLINED BY
|
Name : |
Mr. Arif Khan |
|
Designation : |
Senior Manager (Human Resources) |
|
Contact No.: |
91-11-41058131 |
LOCATIONS
|
Registered Office : |
2nd Floor, 45, Okhla Industrial Estate, Phase-III, New Delhi-110020,
India |
|
Tel. No.: |
91-11-41058131/ 132 |
|
Fax No.: |
91-11-41058133 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Kasna Road, Village Surajpur, Greater Noida-201306, Uttar Pradesh,
India |
|
Tel. No.: |
91-120-2560880/ 2560103-6 |
|
Fax No.: |
91-120-2560881 |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Sarvjit Singh Grewal |
|
Designation : |
Director |
|
Address : |
A-23, Second Floor, Hauz Khas, New Delhi-110016, Delhi,
India |
|
Date of Birth/Age : |
28.02.1950 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No.: |
00292427 |
|
|
|
|
Name : |
Mr. Aman Chopra |
|
Designation : |
Director |
|
Address : |
N-20, First Floor, Panchsheel Park, New Delhi-110017,
Delhi, India |
|
Date of Birth/Age : |
02.09.1971 |
|
Date of Appointment : |
14.06.2012 |
|
DIN No.: |
00131213 |
KEY EXECUTIVES
|
Name : |
Mr. Arif Khan |
|
Designation : |
Senior Manager (Human Resources) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Subhash Chopra |
467500 |
25.00 |
|
Esha Chopra |
467500 |
25.00 |
|
Aman Chopra |
467500 |
25.00 |
|
Nandita Aman Chopra |
467500 |
25.00 |
|
Total |
1870000 |
100.00 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotives Tooling and Fixtures. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.P. Puri and Company Chartered Accountants |
|
Address : |
4/18, Asaf Ali Road, New Delhi- 110002, India |
|
Tel. No.: |
91-11-23274888/ 23277410 |
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Fax No.: |
91-11-23272805 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AACFS2752D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprise over which above mentioned individual have significant
Influence : |
· Alba Powerspack Tooling India Private Limited · Spack Automation Private Limited · Powerspack Industries Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1870000 |
Equity Shares |
Rs. 10/- each |
Rs. 18.700
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
18.700 |
18.700 |
|
(b) Reserves & Surplus |
|
(3.070) |
(3.987) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
15.630 |
14.713 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
28.116 |
16.723 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
2.390 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.299 |
0.013 |
|
Total
Non-current Liabilities (3) |
|
28.415 |
19.126 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
17.681 |
|
(b)
Trade payables |
|
11.624 |
3.130 |
|
(c)
Other current liabilities |
|
31.247 |
4.732 |
|
(d)
Short-term provisions |
|
0.024 |
0.003 |
|
Total
Current Liabilities (4) |
|
42.895 |
25.546 |
|
|
|
|
|
|
TOTAL |
|
86.940 |
59.385 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
62.229 |
48.227 |
|
(ii)
Intangible Assets |
|
1.012 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
0.121 |
0.010 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
63.362 |
48.237 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
5.839 |
2.402 |
|
(c)
Trade receivables |
|
6.855 |
0.188 |
|
(d)
Cash and cash equivalents |
|
2.284 |
6.718 |
|
(e)
Short-term loans and advances |
|
4.483 |
1.813 |
|
(f)
Other current assets |
|
4.117 |
0.027 |
|
Total
Current Assets |
|
23.578 |
11.148 |
|
|
|
|
|
|
TOTAL |
|
86.940 |
59.385 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
80.113 |
0.632 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
73.362 |
1.497 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE FINANCE CHARGES AND
DEPRECIATION |
|
6.751 |
(0.865) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
CHARGES AND DEPRECIATION |
|
8.225 |
0.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(1.474) |
(1.597) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(2.391) |
2.390 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
0.917 |
(3.987) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
0.169 |
0.000 |
|
|
|
Capital Goods |
|
0.991 |
34.411 |
|
|
TOTAL IMPORTS |
|
1.160 |
34.411 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.49 |
(2.13) |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term Borrowings |
|
7.948 |
1.264 |
|
|
|
|
|
|
Cash Generated from Operations |
|
NA |
0.898 |
|
|
|
|
|
|
Net Cash Flow from Operating Activities |
|
NA |
0.888 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(1.70) |
(2.69) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.09) |
(0.11) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.31 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.55 |
0.44 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
18.700 |
18.700 |
|
Reserves & Surplus |
(3.987) |
(3.070) |
|
Money received against share
warrants |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net
worth |
14.713 |
15.630 |
|
|
|
|
|
Long-term borrowings |
16.723 |
28.116 |
|
Short term borrowings |
17.681 |
0.000 |
|
CURRENT MATURITIES OF
LONG-TERM BORROWINGS |
1.264 |
7.948 |
|
Total
borrowings |
35.668 |
36.064 |
|
Debt/Equity
ratio |
2.424 |
2.307 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
0.632 |
80.113 |
|
|
0.000 |
12,576.108 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
0.632 |
80.113 |
|
Profit |
(3.987) |
0.917 |
|
|
(630.85%) |
1.14% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10384580 |
25/10/2012 |
86,300,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST |
B61417911 |
PERFORMANCE OF THE
COMPANY:
During the financial year ended 31st March, 2014, the Company
achieved a total revenue Rs. 80.113 Million in the previous financial period
ended 31st March, 2013 and the Company registered a profit of Rs.
0.917 Million after tax as against a Loss of Rs. 3.987 in the previous
financial period.
FIXED ASSETS:
Tangible Assets
·
Electric Installations
·
Tools and Equipment
·
Plant and Equipment
·
Furniture and Fixtures
·
Office Equipment
·
Computer Equipments
· Air Conditioner
Intangible Assets
· Computer Software
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. 66.06 |
|
|
1 |
Rs. 102.35 |
|
Euro |
1 |
Rs. 74.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.