MIRA
INFORM REPORT
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Report Date : |
07.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRO
STEEL PRODUCTS |
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Registered Office : |
1-B,
Ram Lochan Mullick Street, 1st Floor, Room No. 105, Kolkata – 700
073, West Bengal, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
CST
No.: 19560570212, |
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VAT No.: |
1560570018 |
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IEC No.: |
Registered
with S.S.I., N.S.I.C. & F.O.S.M.I. KOLKATA. |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALE00458D |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer
and Trader of Steel Tubular Pole/ Power Transmission Pole, M.S/ G.I. Pipe,
Transmission Tower, Cable Tray and Earth Electrode & Power Over head Line
Materials. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Slow
but Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an established small concern in its filed. Trade relations are fair.
Financial position is satisfactory. Payments are reported as slow but
correct. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
1-B,
Ram Lochan Mullick Street, 1st Floor, Room No. 105, Kolkata –
700073, West Bengal |
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Tel. No.: |
91-33-22724516/22724987/
32938389 |
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Mobile No.: |
91-9831062522 |
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Fax No.: |
91-33-22699087 |
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E-Mail : |
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Website : |
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Location : |
Rented
(Commercial) |
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Head
Office : |
18,
Ramlochan Mullick Street, 1st Floor, Room # 105, Kolkata – 700073,
West Bengal |
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Tel.
No.: |
91-33-22724516/4987 |
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Fax
No.: |
91-33-22699087 |
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E-Mail
: |
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Factory/Warehouse
: |
Santarapara,
Vill – Kharial, Coal Complex, Dankuni – 700011, Hoghly, West Bengal, India. |
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Tel.
No.: |
91-33-32938389 |
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Area : |
25000
Sq. ft |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr.
Samitesh Agarwal |
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Designation : |
Partner
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Address : |
Space
Town, Kolkata – 700 052, West Bengal, India. |
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Date of Birth/Age : |
28.05.1980 |
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Qualification : |
Post
Graduate |
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Experience : |
8
Years |
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Name : |
Mrs.
Nagina Agarwal |
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Designation : |
Partner
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Address : |
Space
Town, Kolkata – 700 052, West Bengal, India. |
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Date of Birth/Age : |
15.10.1957 |
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Qualification : |
Graduate
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Experience : |
25
Years |
s
KEY EXECUTIVES
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Name
: |
Mr.
Abhisek Agarwal |
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Designation
: |
Chief
Executive Officer |
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Address
: |
Space
Town, Kolkata – 700052 |
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Date
of Birth/Age : |
1981 |
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Qualification
: |
Graduate
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Experience
: |
5
Years |
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Mobile
No.: |
91-9831062522 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Trader of Steel Tubular Pole/ Power Transmission Pole, M.S/ G.I. Pipe,
Transmission Tower, Cable Tray and Earth Electrode & Power Over head Line
Materials. |
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Terms : |
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Selling : |
L/C,
Cash & Credit (30 – 60 days) |
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Purchasing : |
L/C,
Cash & Credit (30 days) |
PRODUCTION
STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Steel Tubular Pole |
Nos. |
1000 p.m. |
1000 p.m. in Single shift |
|
Hamilton Pole |
Shift |
10000 |
10000 |
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Transmission Tower |
MT |
100 p.m. |
100 p.m. |
GENERAL
INFORMATION
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Suppliers : |
Local
Market |
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Customers : |
End
Users, Manufacturer, All India Government Sectors, Government Approved
Contractors and Others v
B
M W Industries Private Limited v
Coal
India Limited v
Hindalco
Industries Limited v
Imperial
Tubes Private Limited v
Kolkata
Metropoliatan Development Autority v
Steel
Authority of India Limited, Kolkata v
The
Tata Iron & Steel Company Steel Company Limited |
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No. of Employees : |
19 |
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Bankers : |
State
Bank of India, Commercial Branch, Howrah – 711101 |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
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Auditors : |
Lalit
Kedia & Company Chartered
Accountant |
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Address: |
32,
Ezra Street, Kolkata – 700001 |
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Associates/Subsidiaries : |
v
Electro
Steel Company v
Steel
Fabs |
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Sister Concern: |
Electro
Steel Company |
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Address: |
1-B,
Ram Lochan Mullick Street, 1st Floor, Room No. 105, Kolkata – 700
073, West Bengal, India |
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Line of Business: |
Manufacturing
& Trading |
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Sister Concern: |
Steel
Fabs (India) |
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Address: |
1-B,
Ram Lochan Mullick Street, 1st Floor, Room No. 105, Kolkata – 700
073, West Bengal, India |
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Line of Business: |
Manufacturing
and Partly Trading |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
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|
31.03.2006 |
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Sales Turnover |
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|
15.000 |
LOCAL AGENCY
FURTHER INFORMATION
About Us
Electro Steel Products (ESP) was incorporated in the
year 2001 and today it is a recognized manufacturer and exporter of Steel
Pipes, Traffic Lights, Steel Pole, Transmission Tower, Brackets, Electric
Poles, etc. They have been registered under SSI and NSIC institution since 1985
and their dedicated efforts led to the establishment of the ‘pole division’ for
the production of steel tubular poles swaged type as per IS:2713 (Part I –
III).
They are proud to state that they have achieved a high
rated production capacity of 5,000 Nos of poles every year. Their persistent
pursuit for quality has earned us a reputation for impeccable quality and total
reliability. Their products are designed and manufactured to achieve high
standards of quality besides offering timely delivery and competitive prices.
They have got their products approved by leading domestic agencies including
Department of Telecommunication/Power, Rites, M.N. Dastur and Private Limited,
Cmpdil, Defence, Oil India, NTPC and State Projects. They have a list of
satisfied clients in various power, telecommunication and construction sectors.
Product Range
They are the manufacturer and exporter of the following
range of items:
Ř M.S./G.I. Steel Tubular Poles Swaged Type used for Street Lighting, LT and HT Power Transmission, Flood Lighting
Ř Hamilton Poles/Revitted Poles and their accessories used for Telecom Transmission
Ř Tower for Power Distribution/Transmission
Ř ERW M.S. Black and G.I. Pipes used for structural, water gas, steam, drainage
Ř M.S./G.I. Cable Tray (Ladder/Perforated Type)
Infrastructure
They have erected a world-class production house where
their team members get full facilities to showcase their talent and skills.
Their production process is executed by modern steel making technologies with
latest computerized machineries. Their infrastructure and workforce together
deliver superior range of products that have witnessed increasing demands in
the competitive market. They are on the leading edge of technology with their
fully facilitated steel research center and have diverse facilities for
producing the upgraded product line in the steel industry. They work closely
with their customers to develop innovative products and supply as per their
requirement.
Quality
They have developed a well established quality
testing system that ensure of manufacturing and supplying outstanding range of
products. Their quality inspectors takes care of all the aspects such as the
quality of incoming raw materials, process control steps, checking for quality
compliance of all intermediate and final products.
Trade
References:
Ř Imperial Tubes Private Limited
Ř BMW Industries Limited
Ř Nezone Tube Limited
Ř Hariana Iron Works Private
Limited
Ř The Tata Iron & Steel
Limited, Kolkata
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records 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. 44.86 |
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UK
Pound |
1 |
Rs. 85.24 |
|
Euro |
1 |
Rs. 56.99 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
|
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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