MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
ALL INDIA METAL CORPORATION |
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Registered Office : |
132, Kika Street, Gulalwadi, Mumbai - 400 004, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
1967 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA05293B |
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PAN No.: [Permanent
Account No.] |
AAAFA7020L |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Importer and Trader of Stainless Steel and Industrial Raw 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 13000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Partners are experienced, respectable and having satisfactory means of their own. Their trade relations are fair. Payments are slow but correct. Your proposed business dealings of US $ 50000 can be
considered against D/A or D/P terms. |
LOCATIONS
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Registered Office : |
132, Kika Street, Gulalwadi, Mumbai - 400 004, Maharashtra, India. |
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Tel. No.: |
91 - 22 - 22422878 / 22420441 / 66362441 |
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Fax No.: |
91 - 22 - 22424280 |
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E-Mail : |
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Website : |
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Area : |
600sq.fts |
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Location : |
Owned |
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Warehouse : |
Located At: Navi Mumbai |
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Area : |
5000sq.fts |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Ankesh Chandan |
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Designation : |
Partner |
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Date of Birth/Age : |
31 years |
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Qualification : |
Commerce Graduate |
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Experience : |
10 years |
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Name : |
Mr. Parasmani Chandan |
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Designation : |
Partner |
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Date of Birth/Age : |
53years |
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Qualification : |
Under Graduate |
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Experience : |
30 years |
BUSINESS DETAILS
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Line of Business : |
Importer and Trader of Stainless Steel and Industrial Raw
Materials |
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Products : |
² Stainless Steel ² Alloy Steel ² Ferrous and Non
Ferrous Metal ² Carbon Steel /
Mild Steel |
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Exports : |
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Countries : |
USA |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
The Netherlands, Belgium, China, Korea, Gulf Countries and
USA |
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Terms : |
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Selling : |
Credit (30-90 days) and T/T |
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Purchasing : |
L/C or 10% advanced and
Balance CAD |
GENERAL INFORMATION
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Customers : |
³ End Users ³ Manufacturers ³ Sugar Mills ³ Chemicals
Companies ³ Atmomic Energy
(Barc), Kota, indore, Mumbai ³ Associate Cement
Company Limited, Comibatore, Wadi, Kymore ³ Andhra
Petrochemicals Limited, Visakhaptnam ³ Chemithon Engineers
Limited ³ Dhar Cements
Limited ³ Excel Industries
Limited, Mumbai and Bhavnagar ³ Tata Institute
of Fundamental Research ³ Sirpur Paper
Mills Limited ³ Lafarge India
Limited ³ West Cost Paper
Mills Limited, Bangalore ³ Oil and Natural Gas
Corporation Limited, Mumbai ³ Reliance
industries Limited |
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No. of Employees : |
15 |
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Bankers : |
v Bank of Baroda, Gulalwadi, Mumbai - 400 004, Maharashtra, India. v HDFC Bank, Null Bazar Branch, Mumbai |
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Facilities : |
O/D and L/C – Rs.6.000 millions from HDFC Bank O/D - Rs.1.800 millions from
Bank of Baroda |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.4.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.4.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Partners Capital |
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2.974 |
2.419 |
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2] Share Application Money |
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0.030 |
0.000 |
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3] Reserves & Surplus |
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0.006 |
0.006 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.010 |
2.425 |
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LOAN FUNDS |
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1] Secured Loans |
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4.346 |
3.246 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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4.346 |
3.246 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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7.356 |
5.671 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.086 |
0.110 |
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Capital work-in-progress |
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0.031 |
0.031 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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9.509 |
0.000 |
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Cash & Bank Balances |
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0.126 |
6.574 |
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Other Current Assets |
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2.928 |
0.000 |
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Loans & Advances |
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0.000 |
0.518 |
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Total
Current Assets |
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12.563 |
7.092 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.324 |
1.562 |
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Provisions |
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5.324 |
1.562 |
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Total
Current Liabilities |
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7.239 |
5.530 |
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Net Current Assets |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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7.356 |
5.671 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover (including other income) |
120.000 |
100.000 |
44.497 |
34.824 |
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Profit/(Loss) Before Tax |
NA |
NA |
0.054 |
0.054 |
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Provision for Taxation |
NA |
NA |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
NA |
NA |
0.054 |
0.054 |
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Total Expenditure |
NA |
NA |
2.018 |
1.696 |
Expected Sales (2007-08) : Rs.150.000 millions
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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0.12 |
0.15 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.12 |
0.15 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.42 |
0.74 |
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Return on Investment (ROI) (PBT/Networth) |
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0.02 |
0.2 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.21 |
1.98 |
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Current Ratio (Current Asset/Current Liability) |
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2.35 |
4.54 |
LOCAL AGENCY
FURTHER INFORMATION
The concern is in
trade terms with:
¨
The Andhra Sugars Limited, Andhra Pradesh
¨
United Phosphorus Limited
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Divine Polysters and Petrochemicals Limited
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Smilex Laboratories
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Spectra Agrochem Limited, Visakhapatnam, Andhra Pradesh
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EBY Industries, Mumbai
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Excel Industries Limited, Mumbai
WEBSITE DETAILS ATTACHED:
Profile:
Stainless
Steel, Copper, Brass, Aluminum, MS, CS, BQ-Sheets, Plates, Coils, Tubes, Pipes,
Rods, Flats, Fittings & Flanges
They take the pleasure to
introduce themselves as one the largest Importers, Stock Holders &
Suppliers for the following materials:
Stainless Steel, Sheet, Plates, Coils, Tubes, Pipes, Rods, Wires,
Flats, Structural, Fittings, Flanges Etc.
Confirming to TP-202, 304, 304L, 309, 310, 310S, 316, 316S, 316TI,
321, 410, 430, 904L, NICKLE, MONEL, INCONEL, TITANIUM & ALL HIGH NICKLE
GRADES.
All Items In Brass, Copper, Aluminum, Carbon Steel, Mild Steel
& Boiler Quality (Bq) Items.
Being all leading stockiest, they are in a position to cater all
your requirements of the above mentioned items. They therefore, desirous in
enlisting their name with your organization as a VENDOR having been in the
field SINCE 1967. They are well established. They are regularly supplying these
items to many leading industrial Units consisting of
Chemicals/Fertilizers/Petrochemical Plants, Paper Mills, Cement Plants/ Sugar
Mill/ Fabrication Units etc.
They also supply these items especially Stainless Steel Sheets/
Plates/ Coils/ Pipes to Engineering Industries who are engage in the
Manufacture and fabrication of Process Equipment. They can supply the Items
even under third party inspection viz Bureau Veritas, D.N.V. H&G, Kavernor
Power Gas, Udhe India, Eil, Lloyds, Toyo, Chemtex, Ceil, Tecnimont ICB and IBR
etc.
As they are regularly maintaining bulk stock in every item, they can
arrange supplies in time and that too at the most competitive rate. They shall
be thank full to you to kindly enlist their name with your approved Vendor list
and favor them with your valuable enquires against your regular requirements.
They would appreciate to get your esteemed enquires and look
forward to the pleasure receiving your valuable response.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.57 |
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UK Pound |
1 |
Rs.78.93 |
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Euro |
1 |
Rs.56.85 |
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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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