MIRA INFORM REPORT
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Report No. : |
301628 |
|
Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
APEX CORPORATION INDIA PRIVATE LIMITED |
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Registered
Office : |
C/O T.B Hazra, 36/18, Chatterjee Bagan, Banerjee, Para Road, West Putiary,
Kolkata - 700041, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.03.2007 |
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Com. Reg. No.: |
21-114141 |
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Capital
Investment / Paid-up Capital : |
Rs.17.295 Million |
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CIN No.: [Company Identification
No.] |
U51109WB2007PTC114141 |
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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
: |
Trader and Importer of Industrial Automation, Minning Equipments,
Atlas Copco Compressors, Portable Compressors and Drilling Machines |
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|
|
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No. of Employees
: |
95 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 120000 |
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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 satisfactory track record. General financial position of the company seem to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating : BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
October 31, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating : A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
October 31, 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 (GENERAL DETAILS)
|
Name : |
Mr. S. P. Murthy |
|
Designation : |
Accountant |
|
Contact No.: |
91-657-2320969 |
|
Date : |
01.01.2015 |
LOCATIONS
|
Registered Office : |
C/O T.B Hazra, 36/18, Chatterjee Bagan, Banerjee, Para Road, West Putiary,
Kolkata - 700041, West Bengal, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Administrative Office : |
10, Avtar Building, Near Ram Mandir, Main Road, Bistupur, Jameshepur –
831001, Jharkhand, India |
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Tel. No.: |
91-657-2320969/ 2320807/ 2320918/ 2435486 |
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Fax No.: |
91-657-2320918 |
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E-Mail : |
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Branch Office : |
Hotel Yuvraj Building, Doranda, Ranchi – 834003, Jharkhand, India |
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Tel. No.: |
91-651-2482296 |
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E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Gian Taneja |
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Designation : |
Director |
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Address : |
33, North West, Circuit House Area, Bistupur, Jamshedpur - 831 001,
Jharkhand, India |
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Date of Birth/Age : |
15.04.1947 |
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PAN No.: |
ABTPT2730J |
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Voter ID No.: |
BR/50/292/342257 |
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Date of Appointment : |
14.03.2007 |
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DIN No.: |
00923553 |
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Other Directorships :
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Name : |
Ms. Aruna Taneja |
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Designation : |
Director |
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Address : |
33, North West, Circuit House Area, Bistupur, Jamshedpur - 831 001, Jharkhand,
India |
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Date of Birth/Age : |
15.11.1955 |
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PAN No.: |
AALPT9712H |
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Voter ID No.: |
BR/50/292/342258 |
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Date of Appointment : |
14.03.2007 |
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DIN No.: |
00923555 |
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Other Directorships :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
of Holding |
|
Gian Taneja |
92850 |
53.69 |
|
Aruna Taneja |
10000 |
5.78 |
|
Vivekanand Tiwary |
2100 |
1.21 |
|
Apex Minig and Construction Private Limited, India |
68000 |
39.32 |
|
Total |
172950 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
39.32 |
|
Directors or relatives of Directors |
59.47 |
|
Other top fifty shareholders |
1.21 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Industrial Automation, Minning Equipment’s,
Atlas Copco Compressors, Portable Compressors and Drilling Machines |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
Sweden |
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Terms : |
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Selling : |
Cash, Credit and L\C |
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Purchasing : |
Cash, Credit and L\C |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturer
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No. of Employees : |
95 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
B GUPTA and Company Chartered Accountants |
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Address : |
Bari Mansion, Bistupur, Jamshedpur - 831001, Jharkhand, India, |
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Tel No.: |
91-657-2320138 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFG2208A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
172950 |
Equity Shares |
Rs.100/- each |
Rs.17.295
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
17.295 |
17.295 |
17.295 |
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(b) Reserves &
Surplus |
45.730 |
35.221 |
25.704 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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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) |
63.025 |
52.516 |
42.999 |
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(3) Non-Current
Liabilities |
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|
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(a) long-term borrowings |
0.954 |
1.240 |
4.551 |
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(b) Deferred tax
liabilities (Net) |
0.016 |
0.019 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
0.970 |
1.259 |
4.551 |
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(4) Current Liabilities |
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(a) Short term borrowings |
47.826 |
58.278 |
42.218 |
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(b) Trade payables |
58.521 |
59.139 |
53.288 |
|
(c) Other current
liabilities |
3.901 |
3.598 |
5.228 |
|
(d) Short-term provisions |
22.715 |
17.288 |
12.373 |
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Total Current Liabilities
(4) |
132.963 |
138.303 |
113.107 |
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|
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TOTAL |
196.958 |
192.078 |
160.657 |
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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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(i) Tangible assets |
23.546 |
2.831 |
1.719 |
|
(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 |
1.283 |
0.514 |
0.384 |
|
Total Non-Current Assets |
24.829 |
3.345 |
2.103 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3.527 |
24.008 |
16.816 |
|
(b) Inventories |
20.763 |
20.506 |
17.324 |
|
(c) Trade receivables |
101.519 |
106.891 |
101.772 |
|
(d) Cash and cash
equivalents |
24.007 |
21.821 |
0.325 |
|
(e) Short-term loans and
advances |
1.600 |
0.000 |
10.000 |
|
(f) Other current assets |
20.713 |
15.507 |
12.317 |
|
Total Current Assets |
172.129 |
188.733 |
158.554 |
|
|
|
|
|
|
TOTAL |
196.958 |
192.078 |
160.657 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
409.260 |
398.279 |
361.007 |
|
|
Other Income |
3.691 |
4.652 |
6.435 |
|
|
TOTAL
(A) |
412.951 |
402.931 |
367.442 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
355.069 |
355.752 |
320.255 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(0.256) |
(3.182) |
(0.495) |
|
|
Employees benefits expense |
17.469 |
15.032 |
12.193 |
|
|
Other expenses |
15.287 |
13.223 |
10.665 |
|
|
Exceptional Items |
0.000 |
0.000 |
0.072 |
|
|
TOTAL
(B) |
387.569 |
380.825 |
342.690 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
25.382 |
22.106 |
24.752 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.823 |
7.228 |
11.731 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.559 |
14.878 |
13.021 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.626 |
0.427 |
0.477 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
15.933 |
14.451 |
12.544 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
5.424 |
4.934 |
4.145 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
10.509 |
9.517 |
8.399 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
60.76 |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.27 |
-0.12 |
2.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.20 |
3.04 |
6.62 |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.98 |
2.31 |
7.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.08 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.77 |
1.13 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.36 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
17.295 |
17.295 |
17.295 |
|
Reserves & Surplus |
25.704 |
35.221 |
45.730 |
|
Net worth |
42.999 |
52.516 |
63.025 |
|
|
|
|
|
|
long-term borrowings |
4.551 |
1.240 |
0.954 |
|
Short term borrowings |
42.218 |
58.278 |
47.826 |
|
Total borrowings |
46.769 |
59.518 |
48.780 |
|
Debt/Equity ratio |
1.088 |
1.133 |
0.774 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
361.007 |
398.279 |
409.260 |
|
|
|
10.324 |
2.757 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
361.007 |
398.279 |
409.260 |
|
Profit |
8.399 |
9.517 |
10.509 |
|
|
2.33% |
2.39% |
2.57% |
LOCAL AGENCY FURTHER INFORMATION
|
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
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10054786 |
28/08/2012 * |
49,500,000.00 |
STATE BANK OF INDIA |
SBI RBO, TEE KAY COMPLEX, TINPLATE CHOWK, GOLMURI |
B58276940 |
FIXED ASSETS
- Accent Honda Car
- Honda City Car
- Maruti AC800 Car
- Tata NANO Cars
- Motor Cycles
- Computers
- Printer
- Photo Copier Machine
- Type Writer Machine
- Fax Machine
- Generator
- UPS
- Air Conditioners
- Refrigerator
- Shoe Polish M/c
- Office Equipment
- Coffee Tea Machine
- Furniture and Fixtures
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.63.45 |
|
|
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.