MIRA INFORM REPORT
|
Report No. : |
347416 |
|
Report Date : |
29.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ALSTONE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
129, Sukhdev Vihar, New Delhi – 110025 |
|
Tel. No.: |
91-11-41232400 |
|
|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.12.2013 |
|
|
|
|
Com. Reg. No.: |
55-262194 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.19.100 Million |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25190DL2013PTC262194 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in manufacturing and sale of WPC sheets and Silicone. |
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|
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 53000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a relatively new company incorporated in December, 2013
having moderate track. The company has achieved a sizeable turnover during FY 2014 however,
incurred a heavy loss which has resulted into accumulated losses incurred by
the company. Further, the borrowings recorded by the company are huge. However, trade relations are reported as improving. Business is
active. Payments are reported as slow but correct. The company can be considered for business dealings with some caution
in view newly incorporated. |
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
31-03-2015.
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Mr. Pawan Mittal |
|
Designation : |
Account Department |
|
Contact No.: |
91-11-41232400 |
|
Date : |
27.10.2015 |
LOCATIONS
|
Registered Office : |
129, Sukhdev Vihar, New Delhi – 110025, 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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Head Office/ Corporate Office : |
Altstone House, 2E/7, Jhandewalan Extention, New Delhi – 110055, India
|
|
Tel. No.: |
91-11-41232400 |
|
Fax No.: |
91-11-41232412 |
|
|
|
|
Factory : |
Plot No. 420, Village Keshwana, Ricco Road, Tehsil Kotputli, Disrictt. Jaipur, Rajasthan, India |
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Branch Office: |
Located at:
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Overseas
Offices: |
Located at:
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DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Pawan Garg |
|
Designation : |
Director |
|
Address : |
129, Sukhdev Vihar, New Delhi, 110025, India |
|
Date of Appointment : |
15.01.2014 |
|
DIN No.: |
00166769 |
|
|
|
|
Name : |
Ms. Roma Garg |
|
Designation : |
Director |
|
Address : |
129, Sukhdev Vihar, New Delhi, 110025, India |
|
Date of Birth/Age : |
02.12.1972 |
|
Date of Appointment : |
13.12.2013 |
|
DIN No.: |
00429997 |
|
|
|
|
Name : |
Mr. Deepanker Garg |
|
Designation : |
Director |
|
Address : |
129, Sukhdev Vihar, New Delhi, 110025, India |
|
Date of Birth/Age : |
22.06.1992 |
|
Date of Appointment : |
13.12.2013 |
|
DIN No.: |
06486872 |
KEY EXECUTIVES
|
Name : |
Mr. Pawan Mittal |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Deepanker Garg |
|
5000 |
|
Roma Garg |
|
1005000 |
|
Pawan Garg |
|
900000 |
|
Total |
|
1910000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and sale of WPC sheets and
Silicone. |
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|
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|
Products : |
|
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|
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Brand Names : |
“ALSTONE” |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Avish Jain and Company Chartered Accountants |
|
Address : |
43, 1st Floor, Bharat Nagar, New Friends Colony, New Delhi
– 110025, India |
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Tel. No.: |
91-11-26927546 |
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E-Mail : |
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Website: |
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PAN N Income-tax PAN of auditor or auditor’s firm : |
AAHPJ2965N |
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Memberships : |
-- |
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Collaborators : |
-- |
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Other Related Parties: |
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CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1950000 |
Equity Shares |
Rs.10/- each |
Rs.19.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1910000 |
Equity Shares |
Rs.10/- each |
Rs.19.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
19.100 |
|
(b) Reserves & Surplus |
|
|
(0.589) |
|
(c) Money received against
share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
18.511 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
122.757 |
|
(b) Deferred tax liabilities
(Net) |
|
|
1.139 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.000 |
|
Total
Non-current Liabilities (3) |
|
|
123.896 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
20.181 |
|
(c) Other current liabilities |
|
|
3.495 |
|
(d) Short-term provisions |
|
|
1.271 |
|
Total
Current Liabilities (4) |
|
|
24.947 |
|
|
|
|
|
|
TOTAL |
|
|
167.354 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
109.221 |
|
(ii) Intangible Assets |
|
|
0.128 |
|
(iii) Capital work-in-progress |
|
|
0.000 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
0.614 |
|
(e) Other Non-current assets |
|
|
0.024 |
|
Total
Non-Current Assets |
|
|
109.987 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
25.515 |
|
(c) Trade receivables |
|
|
24.163 |
|
(d) Cash and cash equivalents |
|
|
4.047 |
|
(e) Short-term loans and
advances |
|
|
3.607 |
|
(f) Other current assets |
|
|
0.035 |
|
Total
Current Assets |
|
|
57.367 |
|
|
|
|
|
|
TOTAL |
|
|
167.354 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
|
|
22.423 |
|
|
Other Income |
|
|
0.045 |
|
|
TOTAL
(A) |
|
|
22.468 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
|
17.439 |
|
|
Purchases of Stock-in-Trade |
|
|
9.839 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
(11.508) |
|
|
Employees benefits expense |
|
|
0.926 |
|
|
Other expenses |
|
|
3.665 |
|
|
TOTAL
(B) |
|
|
20.361 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
|
2.107 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.001 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
2.106 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
1.310 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
|
|
0.796 |
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
1.385 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
|
|
(0.589) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
(0.31) |
Activity Started from February 2014
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
|
|
31.03.2014 |
|
Current Maturities of Long term debt |
|
|
NA |
|
Cash generated from operations |
|
|
NA |
|
Net cash flow from operating activity |
|
|
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
|
(2.63) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
|
9.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
6.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
2.30 |
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 about 3 months |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last about 3 months |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY
INFORMATION:
The company is a private limited company incorporated under the provisions
of the Companies Act, 1956 on December 2013. The Company is engaged in
manufacturing and sale of WPC sheets and Silicone. The company has
manufacturing facilities in India and sell its product under brand name
“ALSTONE”
FINANCIAL RESULTS
The company closed the year with the turnover of Rs.22.423 Million with
a net profit of Rs.0.796 Million (for the period 13.12.2013 to 31.03.2014)
before income tax and and deferred tax liabilities. The company during the year
also made a provision of Rs.0.246 Million for Income Tax and Rs.1.139 Million
for deferred tax liability.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
Loans and Advances from Director and Relatives |
121.938 |
|
|
|
|
Total |
121.938 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10539754 |
03/11/2014 |
70,000,000.00 |
Punjab National
Bank |
Naraina Vihar, New
Delhi - 110028, INDIA |
C38710430 |
|
2 |
10539755 |
03/11/2014 |
22,500,000.00 |
Punjab National
Bank |
Naraina Vihar,
New Delhi - 110028, INDIA |
C38711412 |
FIXED ASSETS
Tangible Assets
- Agricultural Land
- Factory Building
- Plant and Machinery
- Furniture and Fixture
- Office Equipments
- Computers
Intangible Assets
- Computer Software
- Goodwill
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.65.04 |
|
|
1 |
Rs.99.58 |
|
Euro |
1 |
Rs.71.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
26 |
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.