MIRA INFORM REPORT
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Report Date : |
15.02.2007 |
IDENTIFICATION DETAILS
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Name : |
MAITHAN
CERAMIC LIMITED |
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Registered Office : |
3F,
East India House, 20, British Indian Street, Kolkata – 700 068, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.02.1963 |
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Com. Reg. No.: |
21-25751 |
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CIN No.: [Company Identification No.] |
U26919WB1963PTC025751 |
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TAN No.: [Tax Deduction & Collection Account No.] |
CALM00214E |
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PAN No.: [Permanent Account No.] |
AABCM7759A |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business : |
The
company is engaged in manufacturing of refractory bricks, blocks tiles and
similar refractory ceramic constructional goods such as more specially high
alumina refractory up to 90% alumina, basic refractory including magnesi
castable and director branded refractory, insulating refractory up to 95%
alumina purity and in low iron quality, high alumina and basic castable,
ramming masses and gunning mixes, high alumina pourcing refractory and pre
cast pre fired shape. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
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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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Maximum Credit Limit : |
USD 1000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by average of 30 days |
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Litigation : |
Clear |
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Comments : |
Subject
is an established company having moderate track. Directors are reported as
experienced, respectable and having satisfactory means of their own. Their
trade relations are fair. Profit margin is very low. Payments are reported as
slow and delayed. The
company can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
3F,
East India House, 20, British Indian Street, Kolkata – 700 068, West Bengal,
India |
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Tel. No.: |
91–33–
22430759/7560/7561/2483998/0585/0759/0760/ 0761 |
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Fax No.: |
91–33–243
0585/243 0565 |
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Email : |
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Website : |
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Area : |
2600
Sq. ft - Owned |
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Location : |
Commercial
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Factory: |
Post Chirkunda, Dhanbad –
828 202, Jharkhand |
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Tel. No.: |
91-33-22430759/ 22430760/
22430761 |
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Fax No.: |
91-33-22430585 |
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Email : |
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Location: |
Owned |
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Head Office/ Factory/
Warehouse : |
Chirkunda-
828202, Jharkhand, Distric Dhanbad. |
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Tel. No.: |
91-6540-293344-47/3005 |
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Fax No.: |
91-6540-292191 |
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Email : |
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Website : |
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Area : |
Owned |
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Marketing Office (South
India) : |
T-4,
Mangalam Chambers, 25 KH Double Road, Bangalore-560027, India |
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Tel. No.: |
91-80-22993758 |
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Fax No.: |
91-80-22121087 |
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Email : |
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Zonal Marketing Agencies
: |
Thermo
Technologies Private Limited (Northern India) Address : M165, Shastri Nagar,.Delhi
110 052, India Tel.
No.:91 11 2365 5608, 2364 6078, 2364 3538 Fax :91
11 2365 6077 Contact
Person : Mr. Deepak Kaul Western
Ceramet (Western India) Address :
4, Ganesh Kripa, Near Gurukul Society, Panchpakhdi, Tel. No.:
91 22 2534 9544, 2541 6148 Fax : 91
22 2541 6148 Contact
Person : Mr. PB Godbole GV
Incorporate (Central India) Address :
F202 Jagat Plaza, 2nd Floor, Law College Square, Tel. No.:
91 712 2532964, 2537101 Fax : 91
712 2536482 Contact
Person : Mr. Sukesh Gandhi Sanro
Refractories & Minerals (Western India) Address :
6, Saraswati Society, New Kesanbagh, Vasna Road, Tel. No.:
91 265 2253206, 2253279 Fax : 91
265 2253279 Contact
Person : Mr. Vinod Mendiratta |
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Branches : |
Located at : Ø
CL-5, Basanti Colony,
Rourkela – 769 011, Orissa Ø
Qr. # M-89, M. P.
Housing Board, Padamnabipur, District Durg, Madhya Pradesh Ø
Door # 59-4-75, Munseet
Street, Malkapuram, Vishakhapatnam – 530 031, Andhra Pradesh Ø
307, Laxmi Plaza,
Laxmi Industrial Estate, New link Road, Andheri (West), Mumbai-400053 Tel No. : 91-22-56952793/56952429 Mobile No.: 91-9821070896 Fax No. : 91-22-56952428 Email : maithan@vsnl.net |
DIRECTORS
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Name : |
Mr.
Basant Kumar Agarwalla |
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Designation : |
Chairman |
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Address : |
2C,
Mangalam, 35, Ahiri Pukur Road, Kolkata-700019, West Bengal |
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Date of Birth/Age : |
06.02.1946 |
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Date of Appointment : |
01.01.1970 |
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Name : |
Mr.
Jagdish Prasad Agarwalla |
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Designation : |
Managing
Director |
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Address : |
2C,
Mangalam, 35, Ahiri Pukur Road, Kolkata-700019, West Bengal |
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Date of Birth/Age : |
10.04.1947 |
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Qualification : |
B.Com |
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Date of Appointment : |
10.01.1999 |
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Other Directorship: |
v
Maithan Alloys Limited
v
Maithan Coal Company
Private Limited v
Mangalam Construction
Limited v
Shreenathji Ispat
Limited |
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Name : |
Mr.
Binod Kumar Agarwalla |
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Designation : |
Director |
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Address : |
2C,
Mangalam, 35, Ahiri Pukur Road, Kolkata-700019, West Bengal |
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Date of Birth/Age : |
02.09.1956 |
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Date of Appointment : |
01.01.1999 |
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Name : |
Mr.
Amit Kumar Agarwalla |
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Designation : |
Director |
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Address : |
2C,
Mangalam, 35, Ahiri Pukur Road, Kolkata-700019, West Bengal |
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Date of Birth/Age : |
27.08.1971 |
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Date of Appointment : |
04.05.1994 |
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Name : |
Mr.
Vishal Agarwalla |
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Designation : |
Director |
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Address : |
2C,
Mangalam, 35, Ahiri Pukur Road, Kolkata-700019, West Bengal |
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Date of Birth/Age : |
16.09.1971 |
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Date of Appointment : |
04.05.1994 |
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Name : |
Mr.
Aditya Agarwalla |
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Designation : |
Director |
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Address : |
2C,
Mangalam, 35, Ahiri Pukur Road, Kolkata-700019, West Bengal |
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Date of Birth/Age : |
28.12.1974 |
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Date of Appointment : |
01.08.2003 |
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Name : |
Mr.
Anil Kumar Agarwalla |
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Designation : |
Wholetime
Director |
KEY EXECUTIVES
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Name : |
Mr.
Basant Kumar Agarwalla |
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Designation : |
Chief
Executive Officer |
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Address : |
Post
Chirkunda –828202, District Dhanbad. |
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Date of Birth/Age : |
06.02.1946 |
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Qualification : |
B.Sc. |
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Experience : |
38
years |
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Other Directorship: |
Ø
Anjanay Ferro Alloys
Limited Ø
Maithan Alloys Limited Ø
Hindusthan Malleables
and Forgings Limited, |
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Name : |
Mr.
Jagdish Prasad Agarwalla |
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Designation : |
Chief
Executive Officer |
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Address : |
Post
Chirkunda –828202, District Dhanbad. |
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Date of Birth/Age : |
52
Years |
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Qualification : |
B.Com |
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Other Directorship: |
Ø
Maithan Alloys Limited
Ø
Maithan Coal Company
Private Limited Ø
Mangalam Construction
Limited Ø
Shreenathji Ispat
Limited Ø
Trimurti Ispat Limited |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
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Mr. Rajendra Prasad
Agarwalla |
7200 |
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Mr. Kishanlal Agarwalla |
6600 |
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Mrs. Chandrawali Debi
Agarwalla |
6600 |
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Mr. Raghunath Agarwalla |
6600 |
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Mrs. Mani Debi Agarwalla |
6600 |
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Mr. Basudeo Agarwalla |
6600 |
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Mrs. Uma Devi Agarwalla |
6600 |
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Mr. Gajanand Agarwalla |
6600 |
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Mr. Basant Kumar Agarwalla |
6600 |
BUSINESS DETAILS
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Line of Business : |
The
company is engaged in manufacturing of refractory bricks, blocks tiles and
similar refractory ceramic constructional goods such as more specially high
alumina refractory up to 90% alumina, basic refractory including magnesia
castable and director branded refractory, insulating refractory up to 95%
alumina purity and in low iron quality, high alumina and basic castable,
ramming masses and gunning mixes, high alumina pourcing refractory and pre
cast pre fired shape. |
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Products : |
Ø
Bricks & Shapes
Magnesia Carbon Ø
High Alumina Bricks
& Shapes Ø
Magnesite Bricks &
Shapes Ø
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Agencies Held : |
Ø
Mortex (India), 1-A,
East India House, 20, Abdul Hamid Street, Kolkata-700069 Ø
D D Dutta And Sons, 7,
Swallow Lane, Room#88, 2nd Floor, Kolkata-700001 Ø
Reftech Services,
718/21, Joshi Road,Karol Bagh, New Delhi-110005 Ø
Western Ceramet,
Mumbai Ø
Southern Refrectories
And Minerals, 57, Triplicane High Road, Chennai-600005, Ø
Sanro Refractories And
Minerals, A/130, Raajlaxmi Complex, Old Padre Raod, Baroda-390015 Ø
Refractory And
Mineral, (I), C-50 Preet Vihaar, Vikas Marg, 1st Floor,
Delhi-110092. Ø
All Ret (India),# 107,
3rd Main Raod, Industrial Suburbs, Stage Ii, Tumkar Road, Yeshwanthpor, Bangalore-560022. |
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Brand : |
“MAITHAN” |
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Exports to : |
Bangladesh, Oman and Sri Lanka. |
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Imports from : |
Australia,
China, Germany, Ireland and Israel |
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Terms : |
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Selling : |
Cash, Credit and L/C terms. |
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Purchasing : |
Cash, Credit and L/C terms. |
PRODUCTION STATUS
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Particulars |
Unit |
Installed Capacity |
Actual Production |
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Refractory Bricks- Pcs |
M/T |
72000 |
8490237 |
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Mortar, Grog and Processed |
M/T |
67500 |
23200 |
GENERAL INFORMATION
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Customers : |
Wholesalers and
Manufacturers Ø
Graphite India Limited Ø
Hindalco Industries
Limited Ø
Rashtriya Ispat Nigam
Limited Ø
Hindustan National Glass
& Industries Limited Ø
Ispat Metallics
Limited Ø
Steel Authority of
India Limited Ø Tata Iron & Steel Company Limited Ø Visheswara Iron and Steel Limited Ø SPL Limited |
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No. of Employees : |
150-
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Bankers : |
Ø
Dena Bank, Asansol
Branch, Asansol, West Bengal Ø
Dena Bank, Park Street
Branch, Kolkata - 700 016, West
Bengal Ø
State Bank of India,
SPL Commercial Branch, Dhanbad |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory |
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Auditors : |
A. K. Gutgutia &
Company Chartered Accountants 135-A, Biplabi Rash Behari,
Basu Road, Kolkata-700001, West Bengal |
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Associates: |
Ø
Anjanay Ferro Alloys
Limited Ø
Maithan Alloys Limited Ø
Maithan Coal Company
Private Limited Ø
Maithan Industries
Limited Ø
Maithan Minerals
Private Limited Ø
Maithan Refractory
Private Limited Ø
Mangalam Construction
Limited Ø
Shreenathji Ispat
Limited Ø
Singhbhum Refractory Ø
Maithan Smelters
Limited Ø
Maithan International Ø
Maithan Steel and
Power Limited Ø
Ralbrix Limited |
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Parent Company : |
Ø
Maithan Group Company |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000000 |
Equity shares |
Rs. 10 each |
Rs 90.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8526583 |
Equity shares |
Rs. 10 each |
Rs. 85.266 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
85.266 |
85.266 |
85.266 |
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3] Reserves & Surplus |
184.310 |
159.082 |
144.683 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
269.576 |
244.348 |
229.949 |
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LOAN FUNDS |
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1] Secured Loans |
97.568 |
148.107 |
142.188 |
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2] Unsecured Loans |
0.305 |
0.505 |
0.999 |
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TOTAL
BORROWING
|
97.873 |
148.612 |
143.187 |
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DEFERRED TAX LIABILITIES |
7.178 |
10.984 |
12.505 |
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TOTAL
|
374.627 |
403.944 |
385.641 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
103.561 |
105.895 |
106.906 |
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Capital work-in-progress
|
0.000 |
7.402 |
5.312 |
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INVESTMENT
|
0.000 |
0.040 |
0.040 |
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DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
|
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Inventories
|
254.526 |
299.643 |
167.007 |
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Sundry Debtors
|
153.707 |
188.543 |
206.629 |
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Cash & Bank Balances
|
3.424 |
25.994 |
13.036 |
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Other Current Assets
|
0.000 |
0.518 |
0.390 |
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Loans & Advances
|
41.720 |
48.602 |
34.978 |
Total Current Assets
|
453.377 |
563.300 |
422.040 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
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Current Liabilities |
154.584 |
226.604 |
135.133 |
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Provisions |
27.727 |
46.089 |
13.524 |
Total Current Liabilities
|
182.311 |
272.693 |
148.657 |
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Net Current
Assets
|
271.066 |
290.607 |
273.383 |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
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TOTAL
|
374.627 |
403.944 |
385.641 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2004 |
Sales Turnover [including other income]
|
|
|
728.478 |
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Profit/(Loss) Before Tax
|
|
|
35.569 |
Provision for Taxation
|
|
|
22.294 |
Profit/(Loss) After Tax
|
|
|
13.275 |
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Imports Value
|
|
|
46.900 |
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Export Value
|
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|
14.525 |
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Total Expenditure
|
|
|
692.909 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
NA
|
NA |
1.82 |
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Net
Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
4.88 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
NA
|
NA |
6.72 |
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Return
on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.15 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
1.04
|
1.72 |
1.27 |
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Current
Ratio (Current
Asset/Current Liability) |
|
2.49
|
2.06 |
2.84 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of
the company |
Maithan Ceramic Limited |
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Presented
By |
Mr. Jagdish Prasad Agarwalla |
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1) Date
and description of instrument creating the change |
Original charge was created on 11.02.2004 on the basis of
documents executed by the company on 15.12.2003 to guarantee advance extended
to the company subsequently the charge extended to the company on 05.08.2004
are as follows : Supplemental agreement of loan for increase in overall
limit C.1A Supplemental agreement of loan for increase in overall
limit –C-1A Supplemental agreement of hypothecation of goods and
assets for increase in the overall limit C-2A Letter regarding limits within overall limit C2A Resolution dated 15.07.2004. C-4A |
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2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.245.000 millions for : Cash Credit Rs.185.000 millions Letter of credit Rs.110.000 millions Bank Guarantee Rs.5.000 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 |
The company’s entire present and future inventory and
receivables will be hypothecated to the bank. First charge over entire fixed assets of the company
present as well as future. Hypothecation of all movables and immovable assets, book
debts and other asserts whether present or future with restrictions against
creation of any further charge thereon for all the indebtedness and
liabilities of the borrower to the bank present and future. Hypothecation of all present and future goods, book debts,
movables and other assets such as outstanding money receivables, claims,
bills invoices, documents, contracts, engage3ments, security investments,
rights and present machinery’s vehicles and all future machinery’s and
vehicles belonging to or in the possession or under the control of the
borrower wherever in Chirkunda or elsewhere lying, stored and kept and
whether in possession of the borrower or of the bank or any third party
whether in India or elsewhere including all such goods, movables and other
assets as may be in course of
shipment, transit or delivery shall remain charged to the bank. Equitable mortgage in favour of bank by deposit of title
deeds in the company immovable properties consisting of land, building, fixed
plant and machinery, furniture and fixture. |
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4) Gist
of the terms and conditions and extent and operation of the charge. |
Cash Credit (Stocks) Margin 25% Cash Credit (Book Debt) Margin 30% L.C./B.G. Margin 10% The entire advance as repayable on demand with interest as
applicable until the date of actual repayment. Interest to be applied @ 1.50%
above SBAR present effective rate will be 11.75% the rate of interest
mentioned above is subject to charge a per bank’s/ RBI’s directives from time
to time. |
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5) Name
and Address and description of the person entitled to the charge. |
State Bank of India, Specialized Commercial Branch, Bank
More, Dhanabad |
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6)
Date and brief description of
instrument modifying the charge |
17.01.2005 Supplemental agreement of loan for increase in overall
limit –C-1A Supplemental agreement of hypothecation of goods and
assets for increase in the overall limit C-2A Letter regarding limits within overall limit C-5 Resolution dated 14.01.2005 Confirmation letter for creation of Equitable mortgage
17.01.2005. |
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7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
Renewal of the limit was done under term and condition
described in the sanction letter no.SCB/CM/04-05/500 dated 13.01.2005 and the
revised limits were as under :
The entire advance as repayable on demand with interest as
applicable until the date of actual repayment. |
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Name of
the company |
Maithan Ceramic Limited |
||||||||||
|
Presented
By |
Mr. Jagdish Prasad Agarwalla |
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|
1) Date
and description of instrument creating the change |
Original charge was created on 11.02.2004 on the basis of
documents executed by the company on 15.12.2003 to guarantee advance extended
to the company subsequently the charge extended to the company on 05.08.2004
are as follows : General agreement of hypothecation for working capital Pledge letter with list of machineries charged to the
bank. Letter of undertaking by the company not to create any
further charge COC 245 Resolution of company’s board showing intent to create charge
over the assets of the company including equitable mortgage of land and
building. |
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2) Amount
secured by the charge/amount owing on the securities of charge |
Rs.325.000 millions for : Cash Credit Rs.185.000 millions Letter of credit Rs.110.000 millions Bank Guarantee Rs.30.000 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 |
The company’s entire present and future inventory and
receivables will be hypothecated to the bank. First charge over entire fixed assets of the company
present as well as future. Hypothecation of all movables and immovable assets, book
debts and other asserts whether present or future with restrictions against
creation of any further charge thereon for all the indebtedness and
liabilities of the borrower to the bank present and future. Hypothecation of all present and future goods, book debts,
movables and other assets such as outstanding money receivables, claims,
bills invoices, documents, contracts, engage3ments, security investments,
rights and present machinery’s vehicles and all future machinery’s and
vehicles belonging to or in the possession or under the control of the
borrower whether in Chirkunda or elsewhere lying, stored and kept and whether
in possession of the borrower or of the bank or any third party whether in
India or elsewhere including all such goods, movables and other assets
as may be in course of shipment,
transit or delivery shall remain charged to the bank. Equitable mortgage in favour of bank by deposit of title
deeds in the company immovable properties consisting of land, building, fixed
plant and machinery, furniture and fixture. |
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|
4) Gist
of the terms and conditions and extent and operation of the charge. |
Cash Credit (Stocks) Margin 25% Cash Credit (Book Debt) Margin 30% L.C./B.G. Margin 10% The entire advance as repayable on demand with interest as
applicable until the date of actual repayment. Interest to be applied @ 1.50%
above SBAR present effective rate will be 11.75% the rate of interest
mentioned above is subject to charge a per bank’s/ RBI’s directives from time
to time. |
||||||||||
|
5) Name
and Address and description of the person entitled to the charge. |
State Bank of India, Specialized Commercial Branch, Bank
More, Dhanabad |
||||||||||
|
6)
Date and brief description of
instrument modifying the charge |
05.08.2004 Supplemental General agreement of hypothecation for
working capital Resolution of the company’s board dated 15.07.2004 showing
intent to create charge over the assets of the company including equitable
mortgage of land and building. |
||||||||||
|
7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
Bank guarantee limit has been enhanced from Rs.30.000
millions to Rs.50.000 millions and consequently overall limit will go up from
Rs.325.000 millions to Rs.345.000 millions as under :
Margin for the B/G limit is 10%. The entire advance as
repayable on demand with interest as applicable until the date of actual
repayment. |
Basic Refractories
Special Magcarbon
The SPECIAL MAG CARBON series of resin bonded magnesia
carbon bricks is a blend of high crystal size seawater magnesia, fused magnesia
and high purity graphite flakes. These are suitable for use in the vulnerable
areas of EOF, EAF/EBT, VAD/LRF/AOD. These products outperform others due to
their excellent corrosion and oxidation resistance, resistance to spalling and
high hot strength.
Oxidation Resistant
Magcarbon
Subject offers the ‘R’ series of magnesia carbon
refractories suitable for use in the areas where the prime criteria for
selection is good oxidation resistance. These are manufactured with the
addition of multi-antioxidants and special attention is paid to the control of
particle size. This series is suggested for use in EOF tuyere surroundings,
converter lancing, UHP/EBT/EAF hot spots and slag line, VAD/LRF slag line and
bottom.
Dense Magcarbon
This is an economical range of products for use in
non-vulnerable areas of converters, EBT/EAF and LRF slag line. These bricks
outperform fired products due to their non wetting characteristic. These can be
supplied in metal clad quality also.
Slag/Metal Line
Magcarbon
The ‘SSL’ and ‘ML’ range of resin bonded low cost magnesia
carbon refractories are suitable for use in steel ladles and bottom except
impact areas. These products display high non-wetting characteristic and
resistance to metal erosion.
Alumina Magnesia
Carbon
Entirely developed through indigenous research, Alumina
Magnesia Carbon refractories are tailor made for specific LF/LRF/VAD/VD
applications. Due to their unique chemistry they restrict joint openings in
service and act as a monolithic lining thereby restricting metal penetration.
Its unique chemistry imparts high pyroplasticity to the refractory thereby
making it an ideal solution for ladle impact areas. Today AMC bricks are an
integral part of Maithan’s ladle management solutions.
Magnesite
This range of fired and chemically bonded magnesite bricks
is suitable for use in backup applications of EAF, LD converter, steel ladle
and can be supplied with or without steel clad.
Dense Magnesite
Normal dense fired magnesite bricks up to 92% MgO are
supplied for utilities such as EAF sub hearth and working lining, hot metal
mixer wear out lining and converter back up.
Low Iron Magnesite
With the increased focus on fuel efficiency in glassmaking
and increase in furnace life necessitated by economy, the use of high purity
magnesite bricks in glass regenerator has become universal. Maithan offers the
MGIS range of low iron high purity Magnesite bricks manufactured with high
grade Sea water and sintered natural magnesia. These refractories are
distinguished by their high density and resistance to alkali, sulphur, silica
carry over and fume attack. Solutions based on this range can be tailor made
depending on the cost economics, capacity and life expectancy of a glass
furnace.
Magnesite Chrome
Conventional and dense fired conventional Magnesia chrome
bricks are offered for utilities such as steel ladle, LRF, AOD, VOD, EAF/EOF
for back up and working lining applications.
Chrome Magnesite
In this range subject offers general purpose varieties for
back up application, reheating furnace and other non ferrous industries.
Direct Bonded
Magnesite Chrome
The DBMC range is based on high grade magnesite chrome
co-sinter and fired at a very high temperature. These are very good corrosion,
erosion and thermal shock resistant bricks suitable for non-ferrous
applications and AOD working lining. For the cement rotary kiln burning zone, a
superior product, MCL DBMCA has been developed.
Magnesia Alumina
Spinel
The MGAL range is specifically designed for chrome free
rotary cement kiln. These are manufactured from very high grade sintered
magnesia and electro fused spinel and are capable of a high coatability in
service.
Design:
Starting with a comprehensive
appraisal of the operating conditions and previous supply, they partner with
the customer to design a customized refractory solution utilizing modern tools
such as CAD. The emphasis for any design is on the cost/performance aspect of
the refractory under service. .
Application, Inspection and Maintenance: Through turnkey and refractory
management contracts, they ensure technically correct installation of the
refractory lining using specialized equipment. They supervise the operations on
a continuous basis to understand the lining wear patterns and zoning
requirements and maintain the lining with cost effective hot repair solutions
for prolonged life.
Analysis:
Post mortem analysis
of the worn out refractories are carried out at their R&D center to gain an
insight into the wear mechanism and process-refractory interactions during
service. This enables them to design better products for the future and
underscores their commitment to continuous development.
Apart from these technical services, they provide critical
services such as inventory management for the customer and often link
remuneration for long term contracts to performance/output so as to optimize
the customer’s refractory costs. Some of their industry specific services are
as follows:
Iron and Steel :
Blast furnace trough
lining based on Al2O3-SiC-C castables applied and
maintained using sophisticated mixing/conveying equipment. Ladle management
with balanced lining utilizing both shaped and unshaped refractories. Design
and application of coreless induction furnace lining with neutral and basic
ramming mixes for usage with both ferrous and non-ferrous melting.
Glass
Design of refractory
solutions depending on the quality of glass produced. Manufacturing of machined
melter blocks and feeder channels, which are pre-assembled and individually
marked for faster installation at the customer’s end.
Cement
With a product range
encompassing the entire requirement of a cement plant from the pre-heater to
the cooler, they can design and supply refractories for any type of cement
manufacturing. Using XRD and XRF analysis of the cement clinker they provide
customized solutions for individual cement kiln operations.
Subject research and development effort underscores their
overall quality consciousness and aims at establishing a technological
leadership for their products and solutions in the market. Working in sync with
their operations and customers, the R&D group ensures that they have their
finger on the market pulse. The key to successful research lies in their
research wing that is equipped with state of the art equipment such as XRD,
XRF, HMOR, RUL, Creep and PLC machines imported from Germany and a host of
other indigenous equipment. Pilot scale trials supplement core research through
simulated manufacturing runs and evaluation of new and existing products in
real conditions. The emphasis is to search for alternative solutions in the lab
and scale up the results in the shortest possible time to commercially viable
products. Subject also co-operates with external agencies such as the Central
Glass & Ceramic Research Institute in the areas of fundamental research and
new product development.
Sustainable research has paid rich dividends in the form of
path breaking products, which have proven their mettle commercially and have
replaced expensive imports in the Indian market.
v High
purity calcium aluminate cement and derivatives
v Vibrocast
insulations with bulk density as low as 0.4 gms/cc
v Multi
utility monolithic for EOF gunning and steel launder
v Alumina-SiC-Carbon
refractories for ladle impact and wear areas
v Precast
and prefired well block and seating block for extended ladle life
v High
abrasion resistance rolling mill hearth lining
v
Silica bonded self flow castables
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.44.07 |
|
UK
Pound |
1 |
Rs.86.17 |
|
Euro |
1 |
Rs.57.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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
|
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 &
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 |
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions