MIRA
INFORM REPORT
|
Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
BHIWADI METAL ROLLWELL PRIVATE LIMITED |
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Registered Office : |
A -1131, Industrial Area, Bhiwadi, Alwar – 301 019, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.02.1992 |
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Com. Reg. No.: |
17-6528 |
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CIN No.: [Company
Identification No.] |
U14101RJ1992PTC006528 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB06572G |
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PAN No.: [Permanent
Account No.] |
AAACB4973A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter
of Cold Rolled Stainless Steel Strips and Foils / Coils. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track
records. It has huge accumulated losses. Payments are reported as slow but
correct. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office/Factory : |
A -1131, Industrial Area, Phase – III, Bhiwadi, Alwar – 301 019, Rajasthan, India |
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Tel. No.: |
91-1493-220452 |
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Fax No.: |
91-1493-221113 |
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E-Mail : |
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Head Office: |
5-A / 14, 1st Floor, Tilak Nagar, New Delhi – 122 001,
India |
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Tel. No.: |
91-11-25469889 / 25436223 |
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Fax No.: |
91-11-25449806 |
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Corporate Office: |
A -1131, Riico Industrial Area, Bhiwadi, Jhalawar – 301 019,
Rajasthan, India |
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Tel. No.: |
91-1493-220452 |
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Mobile No.: |
91-9811636444 |
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Fax No.: |
91-11-25449806 |
DIRECTORS
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Name : |
Mrs. Kumkum Gupta |
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Designation : |
Director |
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Address : |
132, Lajpat Nagar, Opposite Water Tank, Moradabad – 244 001, Uttar
Pradesh, India |
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Date of Birth/Age : |
06.02.1954 |
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Date of Appointment : |
17.09.1996 |
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Name : |
Mr. Narain Kumar Gupta |
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Designation : |
Director |
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Address : |
131, Lajpat Nagar, Moradabad – 244 001, Uttar Pradesh, India |
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Date of Birth/Age : |
02.11.1930 |
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Date of Appointment : |
17.09.1996 |
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Name : |
Mr. Vineet Kumar Gupta |
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Designation : |
Director |
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Address : |
131, Lajpat Nagar, Moradabad – 244 001, Uttar Pradesh, India |
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Date of Birth/Age : |
28.03.1955 |
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Date of Appointment : |
17.09.1996 |
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Name : |
Mrs. Avdesh Kumari Gupta |
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Designation : |
Director |
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Address : |
131, Lajpat Nagar, Moradabad – 244 001, Uttar Pradesh, India |
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Date of Birth/Age : |
10.01.1935 |
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Date of Appointment : |
17.09.1996 |
KEY EXECUTIVES
|
Name : |
Mohit Gupta and Company |
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Designation : |
Company Secretary |
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Address : |
E-129, Phase – I, R.I.I.C.O. Industrial Area, Bhiwadi 301019,
Rajasthan, India |
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Tel. No. : |
91-1493-221648 |
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Mobile No. : |
91-9871032397 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Equity Shareholders |
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No. of Shares |
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Mr. Narain Kumar Gupta |
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42600 |
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Mrs. Avdesh Kumari Gupta |
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135700 |
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Mr. Vineet Kumar Gupta |
|
37700 |
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Mrs. Kumkum Gupta |
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134000 |
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Mr. Vibhore Kumar Gupta |
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100000 |
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Mr. Vinay Kumar Gupta |
|
120000 |
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Mr. Vipin Kumar Gupta |
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130000 |
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Name of Equity Share Allottee |
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Mr. Avdesh Kumari Gupta |
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200000 |
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Mrs. Kumkum Gupta |
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300000 |
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Mr. Vibhore Kumar Gupta |
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300000 |
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Mr. Vinay Kumar Gupta |
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295000 |
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Mr. Vipin Kumar Gupta |
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200000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Cold Rolled Stainless Steel Strips and Foils / Coils. |
GENERAL
INFORMATION
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No. of Employees : |
130 |
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Bankers : |
NA |
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Financial Institutions: |
The Rajasthan State Industrial
Department and Investment Corporation Limited Address: Udyog Bhavan, Jaipur, Rajasthan, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr.S Singhal and Company Chartered Accountants |
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Address : |
E -127, Industrial Area, Bhiwadi – 301 019, Rajasthan |
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Memberships : |
BMA, Stainless IMISIA |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity shares |
Rs. 10/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
700000 |
Equity shares |
Rs.10/- each |
Rs. 7.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
7.000 |
7.000 |
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2] Share Application Money |
|
11.900 |
0.900 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
[19.538] |
[30.455] |
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NETWORTH |
|
[0.638] |
[22.555] |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
75.818 |
73.868 |
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TOTAL BORROWING |
|
75.818 |
73.868 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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75.180 |
51.313 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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31.047 |
18.429 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
9.262 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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18.186 |
18.885 |
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Sundry Debtors |
|
18.942 |
20.702 |
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Cash & Bank Balances |
|
0.375 |
0.338 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
4.446 |
3.399 |
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Total
Current Assets |
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41.949 |
43.324 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.415 |
8.106 |
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Provisions |
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2.663 |
2.334 |
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Total
Current Liabilities |
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7.078 |
10.440 |
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Net Current Assets |
|
34.871 |
32.884 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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75.180 |
51.313 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
69.992 |
42.838 |
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Other Income |
|
5.853 |
16.896 |
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Total Income |
|
75.845 |
59.734 |
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Profit/(Loss) Before Tax |
|
1.820 |
6.257 |
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Provision for Taxation |
|
0.653 |
--- |
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Profit/(Loss) After Tax |
|
1.167 |
6.257 |
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Expenditures : |
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Financial Charges |
|
0.942 |
0.808 |
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Depreciation & Amortization |
|
1.243 |
1.195 |
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Increase/(Decrease) in Stock |
|
2.298 |
[8.014] |
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Other Expenditure |
|
69.542 |
59.488 |
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Total Expenditure |
|
74.025 |
53.477 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.53 |
10.47 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.60 |
14.60 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.49 |
10.13 |
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Return on Investment (ROI) (PBT/Networth) |
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[2.85] |
[0.27] |
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Debt Equity Ratio (Total Liability/Networth) |
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129.93 |
3.73 |
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Current Ratio (Current Asset/Current Liability) |
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5.92 |
4.14 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:-
|
Name of the
company |
BHIWADI METAL ROLLWELL PRIVATE LIMITED |
|
Presented
By |
Mr. Dinesh Kumar
Gupta |
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1) Date and
description of instrument creating the change |
Deed of
hypothecation 10.12.1994 Equitable
mortgage of immovable asserts land , Building A -1131, Industrial Area, Bhiwadi, Alwar –
301 019, Rajasthan, India by way of depositon title deeds. |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 8.700 millions |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Leasehold land
situated at A -1131, Industrial Area, Bhiwadi, Alwar – 301 019, Rajasthan, India
building contracted threron Hypothecation of plant and machinery and other assets (except store
and book lists for working capital) |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of interests 18.5% p.a Repayment in 28 quarterly Installment dated
15.05.1995 of Rs. 0.310 millions. The Last installment Feb 28th
will be of Rs. 0.311 millions |
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5) Name and
Address and description of the person entitled to the charge. |
The Rajasthan State Industrial
Department and Investment Corporation Limited Address: Udyog Bhavan, Jaipur, Rajasthan. |
WEBSITE DETAILS:
Subject symbolizes strength, durability and impeccable quality. Established in the year 1995, they have grown tremendously and entrenched their selves as the most authentic manufacturer and exporter of Stainless Steel Strips and Foils. With a team of industry experts and dedicated workforce, they strive to deliver the best of the products and services to their esteemed customers. They possess a comprehensive manufacturing set-up, and are capable of successfully catering to the bulk market requirements. Their commitment to meet the requirements of customers through continual excellence in manufacturing error-free products has helped them to carve a valuable niche. They are supplying their products to all the major countries and have the capability to execute the orders in the least lead times.
Product Range
All the products are made from superior quality raw materials sourced from reputed and well-established suppliers. It is their quality consciousness that have established them as the most preferred manufacturer and exporter of Stainless Steel Coils, Strips and Foils. From the last one decade, they are relentlessly catering to the requirements of various industrial sectors like Flexible Hoses, Capillary Tubes, Pipes, Watch, Food and Diary, Thermo Ware, Utensils, Decorative Items, Automobiles, Sugar Industry, Refrigeration, Surgical Equipment, Furniture, Hinges, Rims and Items for Architecture, Building and Construction.
Why them?
·
State-of-the-art manufacturing unit equipped with
hi-tech machinery
·
Stringent quality control norms to ensure that all
products are in conformation with the international standards
·
Pool of technocrats, business oriented professionals,
diligent workers and dedicated marketing personnel
·
Extensive research to develop and manufacture products
as per customers' requirements
·
Strict adherence to cost effective and modern
techniques of production
·
Robust manufacturing capability to successfully cater to
the market demands
·
Strong market goodwill
They are using quality standards approved by TUV DIN EN ISO 9001:2000.
Product Range
Subject offers a very comprehensive product mix. Most of the
products are tailor made to cater the need of various industrial/commercial
segments. They provide stainless
steel cold rolled coils in AISI
301, 304, 304L, 316, 3161L and in 200 series in the following thickness and
widths:
·
Thickness:
0.20 mm to 3.0 mm
·
Width: 300
mm to 500 mm (Mill edge) 12 mm to 500 mm (Slit edge).
Quality
Annealed - Pickled (Soft), V4 Hard, Y2 Hard, 3f4 Hard, Full Hard (As
rolled) Coil Wt. - 50 Kg. to 3.0 M.T.
Surface Finish
·
CR - Work
hardened for specific hardness
·
2D - Cold
rolled annealed and pickled.
Quality Control
With stringent quality control measures aided by modern
process control, inspection and testing facilities such as universal hardness
testing machine, hardness tester, Erichsen cup tester, Universal testing
machine, etc. Subject ensures supply of quality products. Strict quality
control measures are exercised at every stage to ensure the quality from
inspection of the input materials to dispatch of the finished products.
Product Applications
·
J 4 and J I - High
cold work hardening rate and good ductility. Can be used in water tubes, bus
body, utensils, stoves, etc.
·
301 -
Attains high strength by cold working while retaining good ductility. It can be
used where high strength to weight ratio is required such as transportation,
electrical, construction purpose, etc.
·
304 - Most
widely used stainless steel with better welding properties,
formability and excellent corrosion resistance. It can be used in transport, hospital,
petrochemical, food and diary, fertilizer industries, kitchenware, chemical
industries, watch parts, etc.
·
304 L - Used
in place of 304 for improved resistance to inter-granular corrosion and
weldability. Can be used in injection needles, capillary tubing, etc. It has
low tendency to work hardening
·
316 - It
improves corrosion resistance to sea water and many chemicals. It finds
application in marine exteriors, chemical industries, petroleum industries,
food processing industries, paper industries, etc.
·
316 L -
It has reduced tendency towards carbide precipitation, recommended for process
plant parts which cannot be heat treated after welding.
CMT REPORT
(Corruption, Money Laundering and 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.39.37 |
|
UK Pound |
1 |
Rs.79.47 |
|
Euro |
1 |
Rs.56.83 |
SCORE and RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 and 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 and 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 |
|