MIRA INFORM REPORT
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Report No. : |
323412 |
|
Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALPA CONTROL INSTRUMENTS PRIVATE LIMITED |
|
|
|
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Registered
Office : |
G 39, Upsidc Chinhat Industrial Area, Deva Road, Lucknow – 226019,
Uttar Pradesh |
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Mobile No.: |
91-9335309551 (Mr. Dilip) |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.03.1987 |
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Com. Reg. No.: |
20-008624 |
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Capital
Investment / Paid-up Capital : |
Rs.0.800 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U52339UP1987PTC008624 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
LKNA01587F |
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|
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PAN No.: [Permanent Account No.] |
AABCA4022C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing solution
solution to various industries in the
field of sugar manufacturing, steel manufacturing, paper manufacturing along
with many others. |
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|
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|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 satisfactory track. The company has reported a better increase in its sales volume whereas
recorded low profitability during FY 2014. The rating takes into account
adequate net worth, debt free balance sheet and good liquidity profile of the
company during year under review. Trade relations reported to be fair. Business is active. Payments are
reported to be usually correct. Subject can be considered for small 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 – 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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Dilip |
|
Designation : |
Office Executive |
|
Contact No.: |
91-9335309551 |
|
Date : |
20.05.2015 |
LOCATIONS
|
Registered Office : |
G 39, UPSIDC Chinhat Industrial Area, Deva Road, Lucknow – 226019,
Uttar Pradesh, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9335309551 |
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Fax No.: |
Not Available |
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E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Ashok Kumar Kanodia |
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Designation : |
Whole Time Director |
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Address : |
T9-8-2A2 Metro City, Nishatganj, Lucknow – 226006, Uttar Pradesh,
India |
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Date of Birth/Age : |
28.01.1949 |
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Date of Appointment : |
18.03.1987 |
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DIN No.: |
00485321 |
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Name : |
Mr. Rajendra Nath Tandon |
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Designation : |
Director |
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Address : |
2/144 Vikas Nagar, Lucknow – 226022, Uttar Pradesh, India |
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Date of Birth/Age : |
15.01.1949 |
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Date of Appointment : |
20.01.2009 |
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DIN No.: |
00837331 |
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Other Directorship:
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Name : |
Mr. Kabir Kanodia |
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Designation : |
Director |
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Address : |
T9-8-2A2 Metro City, Nishatganj, Lucknow – 226006, Uttar Pradesh,
India |
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|
Date of Birth/Age : |
26.03.1983 |
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Date of Appointment : |
16.03.2009 |
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DIN No.: |
02551437 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Dilip |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Ashok Kumar Kanodia |
6970 |
87.13 |
|
Tasneem Kouser Kanodia |
720 |
9.00 |
|
Usha Kanodia |
50 |
0.63 |
|
Anil Vaid |
50 |
0.63 |
|
Kabir Kanodia |
210 |
2.63 |
|
Total |
8000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.37 |
|
Other top fifty shareholders |
0.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing solution to
various industries in the field of
sugar manufacturing, steel manufacturing, paper manufacturing along with many
others. |
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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 : |
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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Auditors : |
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|
Name : |
Mr. Krishna Sharma and Company Chartered Accountants |
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Address : |
3, Vidhan Sabha Marg, Lucknow – 226001, Uttar Pradesh, India |
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Tel. No.: |
91-2612642/2627600 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AIAPS1273P |
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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 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.0.1000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000 |
Equity Shares |
Rs.100/- each |
Rs. 0.800
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 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
0.800 |
0.800 |
0.800 |
|
(b) Reserves &
Surplus |
11.125 |
10.221 |
8.642 |
|
(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 |
0.125 |
|
Total Shareholders’ Funds
(1) + (2) |
11.925 |
11.021 |
9.567 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
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Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
1.101 |
0.000 |
|
(b) Trade payables |
5.625 |
4.555 |
5.277 |
|
(c) Other current
liabilities |
5.924 |
4.364 |
7.200 |
|
(d) Short-term provisions |
0.453 |
0.743 |
0.442 |
|
Total Current Liabilities
(4) |
12.002 |
10.763 |
12.919 |
|
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|
|
|
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TOTAL |
23.927 |
21.784 |
22.486 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.813 |
3.272 |
2.619 |
|
(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) |
0.194 |
0.144 |
0.108 |
|
(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 |
3.007 |
3.416 |
2.727 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.569 |
4.181 |
3.449 |
|
(c) Trade receivables |
2.135 |
3.853 |
4.197 |
|
(d) Cash and cash
equivalents |
11.443 |
8.930 |
10.857 |
|
(e) Short-term loans and
advances |
1.774 |
1.404 |
1.256 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
21.921 |
18.368 |
19.759 |
|
|
|
|
|
|
TOTAL |
24.928 |
21.784 |
22.486 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
49.276 |
39.273 |
58.956 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
0.958 |
1.833 |
2.082 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
0.089 |
0.022 |
0.003 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.869 |
1.811 |
2.079 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
0.657 |
0.601 |
0.476 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
0.212 |
1.210 |
1.603 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.691) |
(0.369) |
0.620 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
0.903 |
1.579 |
0.983 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
112.875 |
197.375 |
122.875 |
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 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.83 |
4.02 |
1.67 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.94 |
4.67 |
3.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.86 |
5.59 |
7.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.11 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.10 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
1.71 |
1.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.800 |
0.800 |
0.800 |
|
Reserves & Surplus |
8.642 |
10.221 |
11.125 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.125 |
|
Net worth |
9.442 |
11.021 |
12.050 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
1.101 |
0.000 |
|
Total borrowings |
0.000 |
1.101 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.100 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
30.000 |
35.000 |
35.000 |
|
|
|
16.667 |
0.000 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
30.000 |
35.000 |
35.000 |
|
Profit |
0.983 |
1.579 |
0.903 |
|
|
3.28% |
4.51% |
2.58% |
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 |
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 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 |
REVIEW OF
OPERATIONS:
The financial condition of sugar industry continued under strain which
affected the order of your company. Even the orders received were generally
with very thin margin. The company has to carry certain supplies at just cost
price to continue to maintain its goodwill with hope that condition will
improve. The customers are looking for alternative lower cost products instead
of branded items. The company continues to be the distributor and
representative of world renowned Asea Brown Boweri now Known as ABB
VAT was another reason as the price of product of the company turned to
be much higher in view of higher duty in comparison of other states. The
company is trying to increase the market scope in order states.
The aggressive marketing brought good increase in turnover though the
bottom line suffered. In view of sustained efforts of management and consistent
follow-up, the company was able to negotiate few payments which were written
off in past years.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90269463 |
30/05/2011 * |
4,000,000.00 |
INDIAN OVERSEAS BANK |
B-213, INDIRA NAGAR, BHOOTNATH
MARKET, LUCKNOW, UTTAR PRADESH - 226016, INDIA |
B15398845 |
* Date of charge modification
CONTINGENT
LIABILITIES:
i.
The Company has not
acknowledged as debts the guarantees given by the bank in favour of parties
amounting to Rs. 3.555 Million (Rs. 1.426 Million Previous year) against fixed
deposited and counter guarantees of the company. The company is also
contingently liable to the extent of performance guarantee given by it to
various parties, the quantum of as per para 10 above has not been determined.
ii.
The demand raised by the
authorities is pending at tribunal Rs. 0.044 has been deposited a security by
the company. Similarly the company has not considered as debts the demand of
Rs. 0.149 Million related to VAT.
FIXED ASSETS
- Land
- Factory
Building
- Residential
Building
- Plant and
Machinery
- Office
Equipment
- Computer
- Vehicle
- Holiday Home
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 records 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.63.70 |
|
|
1 |
Rs.98.92 |
|
Euro |
1 |
Rs.70.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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 |
|
42 |
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.