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MIRA INFORM REPORT
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Report No. : |
516117 |
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Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
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Name : |
ANCA PTY LTD |
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Registered Office : |
25 Gatwick Road Bayswater, North VIC, 3153 |
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Country : |
Australia |
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Financials (as on) : |
30.06.2017 |
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Date of Incorporation : |
26.02.1976 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
The subject operates in the distribution of machine tools including grinder
and cutters. |
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No. of Employees : |
962 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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
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Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
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Australia |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
AUSTRALIA - ECONOMIC OVERVIEW
Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2018 facing a range of growth constraints, principally driven by the sharp fall in global prices of key export commodities. Demand for resources and energy from Asia and especially China is growing at a slower pace and sharp drops in export prices have impacted growth.
The services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control.
Australia benefited from a dramatic surge in its terms of trade in recent years, although this trend has reversed due to falling global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas Project, will significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the WTO, APEC, the G20, and other trade forums. Australia’s free trade agreement (FTA) with China entered into force in 2015, adding to existing FTAs with the Republic of Korea, Japan, Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the 10 ASEAN countries and China, Japan, Korea, New Zealand and India.
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Source
: CIA |
CORPORATE REPORT
REGISTERED NAME ANCA PTY LTD
ACN: 005 163 244
ABN: 43 005 163 244
Summary
Panel
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Established |
1974 |
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Incorporated |
1976 |
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Line of Business |
Distribution of grinding equipment |
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Status |
Trading |
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EXECUTIVE
SUMMARY
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ANCA PTY LTD - CONSOLIDATED |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
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Revenue |
$182,988,324.00 |
$240,952,689.00 |
-24.06% |
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Profit b/tax |
$17,573,408.00 |
$33,520,873.00 |
-47.57% |
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Profit a/tax |
$12,281,701.00 |
$22,968,220.00 |
-46.53% |
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Net Profit Margin |
6.71% |
9.53% |
-2.82% |
As at 30 June 2017, the subject recorded consolidated Working Capital of
$74,514,880 and a current ratio of 2.52 to 1 indicating strong liquidity
levels.
Consolidated Net Assets totalled $115,335,972 as at 30 June 2017. At this
date, the subject further recorded a Debt to Equity ratio of 0.71 to 1. After
deducting intangibles of $25,979,258 this results in a Net Worth of
$89,356,716.
CORPORATE
SEARCH
Company Type Australian Proprietary Company
Status Registered
Incorporation Date 26 Feb 1976
Incorporation State VIC
Registered Office 25 Gatwick Road Bayswater
North VIC, 3153
Current Directors Total: 6
Director Name BILLINGS, GRAEME
Appointment Date 28 Mar 2017
Date of Birth 01 Feb 1956
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas N
Address 22 BARRINGTON AVE, KEW VIC3101
Director Name ANDERSON, GRANTLY MARTIN
Appointment Date 25 Aug 2010
Date of Birth 01 Oct 1954
Place of Birth ADELAIDE SA
Gender MALE
Resident Overseas N
Address 25 MARIPOSA PL, PORT
MELBOURNE VIC 3207
Director Name FOREGARD, JEFF
Appointment Date 30 Jun 2006
Date of Birth 08 Dec 1963
Place of Birth LONDON UNITED KINGDOM
Gender UNKNOWN
Resident Overseas Y
Director Name RIDDIFORD, RUSSELL JOHN
Appointment Date 12 Mar 1996
Date of Birth 25 Mar 1962
Place of Birth MELBOURNE VIC
Gender MALE
Resident Overseas Y
Director Name MCCLUSKEY, PATRICK JOHN
Appointment Date 11 Jun 1976
Date of Birth 24 Aug 1948
Place of Birth KOROIT VIC
Gender MALE
Resident Overseas N
Address 6 KINGFIELD CT, CAMBERWELLVIC 3124
Director Name BOLAND, PATRICK GERARD
Appointment Date 11 Jun 1976
Date of Birth 02 Nov 1948
Place of Birth YALLOURN VIC
Gender MALE
Resident Overseas N
Address 73 ALFRED ST, KEW VIC 3101
Current Secretaries Total: 1
Secretary Name WARD, GARY
Appointment Date 16 Apr 2012
Date of Birth 03 Nov 1960
Place of Birth WATFORD UNITED KINGDOM
Address 2 NATALIE MEWS ELTHAM VIC, 3095
Current Other Officers Total: 2
Officer Role Alternate Director
Officer Name LANGFELDER, JAN
Appointment Date 02 Mar 2012
Date of Birth 11 Aug 1958
Place of Birth PRAGUE CZECH REPUBLIC
Address SCHILLERSTRASSE 11A,
OBERUSEL 61440 GERMANY
Officer Role Alternate Director
Officer Name BOLAND, EDMUND
Appointment Date 11 Feb 2016
Date of Birth 08 Sep 1985
Place of Birth MELBOURNE VIC
Address 13 MUIR STEET RICHMOND VIC, 3121
Officer Role Appointed Auditor
Officer Name ERNST & YOUNG
ACN 027495432
Appointment Date 22 Jun 2017
Address LEVEL 23, 8 EXHIBITION STREET
MELBOURNE VIC, 3000
Company Shares Total: 125717 Amount: $125,717
Class EMPLOYEE [EMP]
Number of Shares Issued 1251
Paid Capital $1,251.00
Total Amount Due and Payable $0.00
Document Number 0E4034772
Class FOUNDER SHARES [ORD]
Number of Shares Issued 124466
Paid Capital $124,466.00
Total Amount Due and Payable $0.00
Current Shareholders
Shareholder Name RIDDIFORD, RUSSELL JOHN
Address 3553 BEAGLE DRIVE,
COMMERCE TWP MICHIGAN
48382 UNITED STATES
Class EMP
Number Held 1251
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name PICOPROP PTY. LTD.
ACN 005744712
Address LEVEL 2, 215 SPRING STREET
MELBOURNE VIC, 3000
Class ORD
Number Held 302
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name BOLAND, PATRICK GERARD
Address 73 ALFRED STREET KEW VIC, 3101
Class ORD
Number Held 29735
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name BOLAND, ELIZABETH ANNE
Address 73 ALFRED STREET KEW VIC, 3101
Class ORD
Number Held 29678
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name MCCLUSKEY, PATRICK JOHN
Address 6 KINGFIELD COURT
CAMBERWELL VIC, 3124
Class ORD
Number Held 59715
Beneficially Held Y
Fully Paid Y
Jointly Held N
Shareholder Name RIDDIFORD, RUSSELL JOHN
Address 3553 BEAGLE DRIVE,
COMMERCE TWP MICHIGAN
48382 UNITED STATES
Class ORD
Number Held 5036
Beneficially Held Y
Fully Paid Y
Jointly Held N
SECURITY
INTERESTS
Effective 30 January 2012 the Personal Property Securities Register
(PPSR) was introduced to give the
different Commonwealth, State and Territory laws and registers regarding
security interests in personal property under one national system.
As a result of PPS Reform a number of existing Commonwealth, State and
Territory personal property security registers will close. Interests registered
on existing security interest registers will be migrated to the national PPS
Register. Subsequently Registered Charges are no longer lodged with the
Australian Securities and Investments Commission (ASIC).
BUSINESS
STRUCTURE
TRADING ADDRESS 25
Gatwick Rd
BAYSWATER,
NORTH, VIC 3153
TELEPHONE (613)
9751 8290
FACSIMILE (613)
9761 4918
WEBSITE http://www.anca.com
CONTROLLED ENTITIES ANCA
INC –USA
ANCA
(UK) LTD
ANCA
MOTION TAIWAN
ANCA
MACHINE TOOLS (SHANGHAI) CO LTD
ANCA (EUROPE) GMBH
ANCA INDIA
ANCA CHINA.
ANCA PROPERTY P/L
ANCA ISRAEL
ANCA MANUACTURING (THAILAND) LTD
ANCA MOTION P/L
TINFISH P/L
TINFISH THAILAND LTD
BANK ANZ
BANKING GROUP
EMPLOYEES 962
BACKGROUND
The subject was incorporated in Victoria on 26 February 1976 as Dromadel
Pty Ltd, changing name on 18 March 1977 to Australian NC Automation P/L, before
adopting the current style on 21 January 1991.
Operations were founded as a new venture on 1974.
In 1986 the subject commenced operations in the UK, followed by the USA
in 1989, Germany in 1991, France in 1998 and Shanghai in 2004.
OPERATIONS
The subject operates in the distribution of machine tools including
grinder and cutters.
Activities are conducted from premises located at the above listed
trading address.
ADVERSE
A search of records of on 20 June 2018 failed to trace any litigation
listed against the subject at that date.
FINANCES
Below is a summary of the subject’s income results for the past two
financial years.
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ANCA PTY LTD - CONSOLIDATED |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
|
Revenue |
$182,988,324.00 |
$240,952,689.00 |
-24.06% |
|
Profit b/tax |
$17,573,408.00 |
$33,520,873.00 |
-47.57% |
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Profit a/tax |
$12,281,701.00 |
$22,968,220.00 |
-46.53% |
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Net Profit Margin |
6.71% |
9.53% |
-2.82% |
As at 30 June 2017, the subject recorded total consolidated current assets
of $123,508,245. They included cash of $17,673,399, receivables of $40,291,463
and Inventories of $62,352,098.
Current liabilities at the same date totalled $48,993,365 and included
payables of $21,273,830 and Interest bearing liabilities of $4,734,668.
As at 30 June 2017, the subject recorded consolidated Working Capital of
$74,514,880 and a current ratio of 2.52 to 1 indicating strong liquidity
levels.
At the end of the last financial year the subject had committed long
term financing facilities with a limit of $37,306,476. These facilities were
drawn to $24,428,588 at this time.
Consolidated Net Assets totalled $115,335,972 as at 30 June 2017. At
this date, the subject further recorded a Debt to Equity ratio of 0.71 to 1.
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ANCA PTY LTD - CONSOLIDATED |
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As at 30 June 2017 |
As at 30 June 2016 |
Change (%) |
|
Revenue |
$182,988,324.00 |
$240,952,689.00 |
-24.06% |
|
Profit b/tax |
$17,573,408.00 |
$33,520,873.00 |
-47.57% |
|
Profit a/tax |
$12,281,701.00 |
$22,968,220.00 |
-46.53% |
|
Net Profit Margin |
6.71% |
9.53% |
-2.82% |
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Current Assets |
$123,508,245.00 |
$115,790,869.00 |
6.66% |
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Non Current Assets |
$73,215,779.00 |
$69,660,775.00 |
5.10% |
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Total Assets |
$196,724,024.00 |
$185,451,644.00 |
6.08% |
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Current Liabilities |
$48,993,365.00 |
$54,781,308.00 |
-10.57% |
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Non Current Liabilities |
$32,394,687.00 |
$22,812,230.00 |
42.01% |
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Total Liabilities |
$81,388,052.00 |
$77,593,538.00 |
4.89% |
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Net Assets |
$115,335,972.00 |
$107,858,106.00 |
6.93% |
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Working Capital |
$74,514,880.00 |
$61,009,561.00 |
22.14% |
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Current Ratio |
2.52 |
2.11 |
19.27% |
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Debt to Equity |
0.71 |
0.72 |
-1.91% |
TRADE
SURVEY
Trade payment records from further sources in the past 4 months have
traced the following data for the subject.
Total Owing:
$2,010
Total Past Due: $0
Average Late Payment
Days: 0
All Industries
Late Payment Days: 10
Within terms: $2,010
1 – 30 days past due: $0
31 – 60 days past due: $0
61 – 90 days past due: $0
91+ days: $0
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.52 |
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|
1 |
INR 90.60 |
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Euro |
1 |
INR 79.87 |
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AUD |
1 |
INR 50.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VAR |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.