MIRA
INFORM REPORT
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Report Date : |
11.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ELECTRO STEEL
PRODUCTS |
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Registered Office : |
1B, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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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 and 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, |
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 6000 |
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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 : |
1B, |
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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 : |
electro_Steel@rediffmail.com /
electro Steel@vsnl.net |
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Website : |
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Area : |
2500 sq.fts |
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Location : |
Rented
(Commercial) |
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Factory / Ware house : |
Santarapara, Vill
– Kharial, Coal Complex, Dankuni – 700011, Hoghly, |
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Tel. No.: |
91-33-30938389 |
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Fax No.: |
91-33-28699087 |
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Area : |
25000 Sq. ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Samitesh
Agarwal |
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Designation : |
Partner |
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Address : |
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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 : |
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Date of Birth/Age : |
15.10.1957 |
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Qualification : |
Graduate |
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Experience : |
25 Years |
KEY EXECUTIVES
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Name : |
Mr. Abhisek
Agarwal |
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Designation : |
Chief Executive
Officer |
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Address : |
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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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Date of Appointment : |
91-9831062522 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader
of steel Tubular Pole / Power Transmission Pole, M.S. / G.I. Pipe, |
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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
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Particulars |
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Unit |
Installed
Capacity |
Actual
Production |
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Steel Tubular Pole |
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PCS |
1000 p.m. |
1000 in Single shift |
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Shift |
10000 |
10000 |
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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 Authority 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 |
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Facilities : |
( C/C – Rs.4.5 millions ) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Lalit Kedia &
Company Chartered Accountant
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Address : |
32, |
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Associates/Subsidiaries : |
v
Electro Steel Company 1-B, v
Steel Fabs ( 1-B, v
Electro Poles Product Private Limited 1-B, |
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]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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25.000 |
15.000 |
Expected Sales (2007-08) : Rs.35.000 millions.
LOCAL AGENCY FURTHER INFORMATION
About Us
Subject was incorporated in the year 2001 and today it is a recognized
manufacturer and exporter of Steel Pipes, Traffic Lights, Steel Pole,
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
They are the manufacturer and exporter of the following range of items:
v
M.S./G.I. Steel Tubular Poles Swaged Type used
for Street Lighting, LT and HT Power Transmission, Flood Lighting
v
Hamilton Poles/Revitted Poles and their
accessories used for Telecom Transmission
v
Tower for Power Distribution/Transmission
v
ERW M.S. Black and G.I. Pipes used for
structural, water gas, steam, drainage
v
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.
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Business Type |
Exporter , Manufacturer |
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Export Percentage |
100% |
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Sales Volume |
20.000 Millions |
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No of Staff |
20 |
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Year of Establishment |
2001 |
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No of Production Lines |
1 |
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Export Markets |
Europe, |
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OEM Service Provided |
No |
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No of Engineers |
2 |
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Monthly Production Capacity |
As per the requirement |
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Steel Pipes, Traffic Lights, Steel Poles, |
Trade References:
- Imperial Tubes Private Limited
- BMW Industries Limited
- Nezone Tube Limited
- Hariana Iron Works Private Limited
- The Tata Iron and 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,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.56 |
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1 |
Rs.82.03 |
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Euro |
1 |
Rs.55.55 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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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 |
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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
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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