MIRA INFORM REPORT
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Report No. : |
353279 |
|
Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALVI TECH SERVICES PRIVATE LIMITED |
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Registered
Office : |
No. G-3, Ground Floor, Basement Shivam Palace, Chinchpada Road,
Kalyan [East], Thane - 421306, Maharashtra |
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Tel. No.: |
91-251-2252211 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
30.01.2006 |
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Com. Reg. No.: |
11-159477 |
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Capital Investment
/ Paid-up Capital : |
Rs. 44.000 Million |
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CIN No.: [Company Identification
No.] |
U45200MH2006PTC159477 |
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IEC No.: |
0306021820 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA07865E |
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PAN No.: [Permanent Account No.] |
AAFCA5622A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in Engineering and Construction of Electrical and Instrumentation projects related to Oil and Gas field at onshore and offshore. [From Indirect Sources] |
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No. of Employees
: |
Information declined by the management |
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2006. It
has moderate track record. The company has reported decent increase in its net profit along with
healthy cash accruals from its operations in the year 2014. However, less
reserve level and slightly high debt level may affect the liquidity position
of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Rating = B |
|
Rating Explanation |
Risk prone credit quality and carries very
high credit risk. |
|
Date |
November 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
November 2015 |
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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Krishna Nand Jagadish Trivedi |
|
Designation : |
Director |
|
Contact No.: |
91-9870618620 |
|
Date : |
03.12.2015 |
LOCATIONS
|
Registered Office : |
No. G-3, Ground Floor, Basement Shivam Palace, Chinchpada Road,
Kalyan [East], Thane - 421306, Maharashtra, India |
|
Tel. No.: |
91-251-2252211 |
|
Mobile No.: |
91-9870618620 [Mr. Krishna Nand Jagadish Trivedi] |
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Fax No.: |
91-251-2251135 |
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E-Mail : |
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Website : |
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Factory : |
A/61, M.I.D.C (Phase -1), Dombivali (East), Thane, Maharashtra, India |
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Tel. No.: |
91-251-2800220 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Krishna Nand Jagadish Trivedi |
|
Designation : |
Managing director |
|
Address : |
108, Ganesh Kripa, Opposite Model College, Chinchpada
Road, Kalyan, Thane - 421306, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1962 |
|
Date of Appointment : |
23.02.2006 |
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PAN No.: |
ACJPT7459H |
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DIN No.: |
01922169 |
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|
|
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Name : |
Mr. Alok Krishnanand Trivedi |
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Designation : |
Director |
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Address : |
108, Ganesh Kripa, Opposite Model College, Chinchpada
Road, Kalyan, Thane - 421306, Maharashtra, India |
|
Date of Birth/Age : |
15.05.1986 |
|
Date of Appointment : |
23.02.2006 |
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PAN No.: |
AEMPT9844D |
|
DIN No.: |
02465795 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Krishna Nand Jagdish Trivedi |
2200000 |
50.00 |
|
Alok Krishna Nand Trivedi |
1364000 |
31.00 |
|
Raj Kumari Krishna Nand Trivedi |
418000 |
9.50 |
|
Vivek Krishna Nand Trivedi |
418000 |
9.50 |
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|
|
|
|
Total |
4400000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Engineering and Construction of Electrical and Instrumentation projects related to Oil and Gas field at onshore and offshore. [From Indirect Sources] |
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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 : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
Information declined by the management |
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Bankers : |
· Bank of Baroda Tisgaon Naka Branch, Balaji Apartment, Mumbai - 421306, Maharashtra, Mumbai
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
ATS and Associates Chartered Accountants |
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Address : |
403, Building No.18, Saffron Regency Estate, Kalyan Shil
Road, Dombivali [East], Kalyan - 421201, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
BIJPS8344B |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,400,000 |
Equity Shares |
Rs. 10/- each |
Rs. 44.000 Million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,400,000 |
Equity Shares |
Rs. 10/- each |
Rs. 44.000 Million |
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|
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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 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
44.000 |
44.000 |
12.500 |
|
(b) Reserves & Surplus |
24.492 |
17.884 |
14.301 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share
Application money pending allotment |
14.450 |
14.450 |
45.950 |
|
Total
Shareholders’ Funds (1) + (2) |
82.942 |
76.334 |
72.751 |
|
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|
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(3)
Non-Current Liabilities |
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|
|
|
(a) Long-term borrowings |
149.473 |
147.354 |
63.273 |
|
(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) |
149.473 |
147.354 |
63.273 |
|
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|
|
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(4) Current Liabilities |
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|
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|
(a)
Short term borrowings |
0.000 |
0.000 |
15.500 |
|
(b)
Trade payables |
55.495 |
55.011 |
30.217 |
|
(c)
Other current liabilities |
1.663 |
0.143 |
0.000 |
|
(d)
Short-term provisions |
11.633 |
11.742 |
7.277 |
|
Total
Current Liabilities (4) |
68.791 |
66.896 |
52.994 |
|
|
|
|
|
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TOTAL |
301.206 |
290.584 |
189.018 |
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|
|
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II.
ASSETS |
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|
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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 |
44.497 |
47.272 |
42.790 |
|
(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) |
0.677 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
45.174 |
47.272 |
42.790 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
27.239 |
30.629 |
0.032 |
|
(b)
Inventories |
77.457 |
32.173 |
28.620 |
|
(c)
Trade receivables |
107.829 |
180.304 |
103.535 |
|
(d)
Cash and cash equivalents |
17.122 |
0.206 |
6.092 |
|
(e)
Short-term loans and advances |
26.385 |
0.000 |
6.822 |
|
(f)
Other current assets |
0.000 |
0.000 |
1.127 |
|
Total
Current Assets |
256.032 |
243.312 |
146.228 |
|
|
|
|
|
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TOTAL |
301.206 |
290.584 |
189.018 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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SALES |
|
|
|
|
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Sales |
NA |
NA |
165.045 |
|
|
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Other Income |
NA |
NA |
NA |
|
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TOTAL |
NA
|
NA
|
NA
|
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|
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|
Less |
EXPENSES |
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TOTAL |
NA
|
NA
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
32.454 |
25.241 |
(Including
Financial and Depreciation Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
20.673 |
17.335 |
|
|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.781 |
7.906 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
5.850 |
2.718 |
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PROFIT BEFORE
TAX |
5.931 |
5.188 |
3.911 |
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|
Less |
TAX |
0.000 |
1.606 |
1.208 |
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PROFIT AFTER TAX
|
5.931 |
3.582 |
2.703 |
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|
Earnings Per
Share (Rs.) |
1.35 |
0.81 |
2.16 |
|
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 flow from (used in) Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
NA |
1.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.97 |
1.79 |
2.07 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.07 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.80 |
1.93 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.72 |
3.64 |
2.76 |
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 |
12.500 |
44.000 |
44.000 |
|
Reserves & Surplus |
14.301 |
17.884 |
24.492 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
45.950 |
14.450 |
14.450 |
|
Net
worth |
72.751 |
76.334 |
82.942 |
|
|
|
|
|
|
Long-term borrowings |
63.273 |
147.354 |
149.473 |
|
Short term borrowings |
15.500 |
0.000 |
0.000 |
|
Total
borrowings |
78.773 |
147.354 |
149.473 |
|
Debt/Equity ratio |
1.083 |
1.930 |
1.802 |
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 |
No |
|
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 one year |
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 |
Yes |
|
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 |
10381030 |
18/03/2014 * |
226,739,000.00 |
BANK OF BARODA |
TISGAON NAKA BRANCH,
BALAJI APARTMENT, POONA LINK ROAD, TISGAON NAKA, KALYAN (EAST), KALYAN,
MAHARASHTRA - 421306, INDIA |
C00627257 |
|
2 |
10131727 |
17/07/2014 * |
226,739,000.00 |
BANK OF BARODA |
TISGAON NAKA BRANCH,
BALAJI APARTMENT, POONA LINK ROAD, TISGAON NAKA, KALYAN (EAST), MUMBAI,
MAHARASHTRA - 421306, INDIA |
C39450606 |
|
3 |
10006982 |
25/05/2012 * |
96,999,000.00 |
BANK OF BARODA |
TISGAON NAKA BRANCH,
BALAJI APARTMENT, POONA LINK ROAD, TISGAON NAKA, KALYAN (EAST), KALYAN,
MAHARASHTRA - 421306, INDIA |
B41379926 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and Advances from related parties |
14.704 |
15.500 |
|
|
|
|
|
Total |
14.704 |
15.500 |
OPERATIONS
The Company lays thrust on R&D activities, resulting innovations techniques
and improved methods in engineering resulting substantial savings in time and
costs.
The Directors have continued their efforts to streaming and
consolidating the operations of the company. The prime object is to keep pace
in the current competitive conditions and ENHANCE THE SHAREHOLDERS VALUE.
The company has continued its trust on optimum operations, better
product mix, value addition and quality standard conforming to the highest
standards.
The Company has entered into various contracts in the areas of
manufacturing products. While benefits from such contracts will accrue in the
future years, the Board of Directors shall periodically review their progress.
FIXED ASSETS:
· Furniture and Fixture
· Air Conditioner
· Vehicles
· Electrical Equipments
· Inverter
· Plant and Machinery
· Tools and Machinery
· Computer
· Other Equipments
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. 66.75 |
|
|
1 |
Rs. 99.61 |
|
Euro |
1 |
Rs. 70.67 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.