MIRA
INFORM REPORT
|
Report Date : |
31.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TRIDENT
MINING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
76/
XXV, Fort Main Road, Bellary – 583101, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2004 |
|
|
|
|
Date of Incorporation : |
05.11.1980 |
|
|
|
|
Com. Reg. No.: |
08-3993 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U13100KA1980PTC003993 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT03893B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACT6575E |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
To
search for minerals, ores and precious stones, granite stones and to acquire,
by acquisition, or grant, mining and other rights and to win, open and work
mines, quarries and ores, minerals and precious stones, granite slabs /
stones polished or unpolished, boulders, in, above and under any other lands
over which mining rights may be acquired by the company, and to raise, sell
and dispose of ores, minerals, granite stones and precious stones to be procured
therefrom, and to treat and make marketable, and / or convert such ores into
metal, or otherwise to deal with the produce of the mines and quarries and
other produce of the mines and quarries. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Small
Company |
|
|
|
|
Payment Behaviour : |
Usually
correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a relatively small company having satisfactory track. Directors are reported as experienced and
respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however reported as usually correct and as per
commitments. The
company can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
76/
XXV, Fort Main Road, Bellary – 583101, Karnataka, India |
|
Tel. No.: |
91-8392-267129 |
DIRECTORS
|
Name : |
Mr. H.
Abdul Wahab |
|
Designation : |
Director
|
|
Address : |
MBT
Complex, Bellary Road, Hospet – 583201, Karnataka, India |
|
Date of Birth/Age : |
15.10.1943 |
|
Date of Appointment : |
26.03.1989 |
|
|
|
|
Name : |
Mr. H.
Noor Ahmed |
|
Designation : |
Director
|
|
Address : |
Mubarak
Manzil, Infantry Road, Cantonment, Bellary – 583104, Karnataka, India |
|
Date of Birth/Age : |
14.06.1955 |
|
Date of Appointment : |
26.03.1989 |
|
|
|
|
Name : |
Mr. H.
Ahmed |
|
Designation : |
Director
|
|
Address : |
Sofia
Manzil, Infantry Road, Cantonment, Bellary – 583104, Karnataka, India |
|
Date of Birth/Age : |
15.07.1954 |
|
Date of Appointment : |
26.03.1989 |
|
|
|
|
Name : |
Mr.
Mohammed Iqbal |
|
Designation : |
Director
|
|
Address : |
Hothur
Manzil, Infantry Road, Cantonment, Bellary – 583104, Karnataka, India |
|
Date of Birth/Age : |
10.12.1957 |
|
|
|
|
Name : |
Mrs.
Jane Mehta |
|
Designation : |
Additional
Director |
|
Address : |
1/F,
Ulsoor Road, Bangalore – 560042, Karnataka, India |
|
Date of Appointment : |
01.08.1986 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr. H.
Abdul Wahab |
|
180 |
|
Mr. H.
Noor Ahmed |
|
180 |
|
Mr. H.
Ahmed |
|
180 |
|
Mr.
Mohammed Iqbal |
|
180 |
BUSINESS DETAILS
|
Line of Business : |
To
search for minerals, ores and precious stones, granite stones and to acquire,
by acquisition, or grant, mining and other rights and to win, open and work
mines, quarries and ores, minerals and precious stones, granite slabs /
stones polished or unpolished, boulders, in, above and under any other lands
over which mining rights may be acquired by the company, and to raise, sell
and dispose of ores, minerals, granite stones and precious stones to be
procured therefrom, and to treat and make marketable, and / or convert such
ores into metal, or otherwise to deal with the produce of the mines and
quarries and other produce of the mines and quarries. |
GENERAL
INFORMATION
|
Bankers : |
Not
Available |
|
Auditors : |
D. V.
Sarovar & Company Chartered
Accountants, Car
Street, Bellary – 583101, Karnataka, India |
|
Tel. No.: |
91-8392-272180 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
2600 |
Equity
Shares |
Rs. 1000/- each |
Rs. 2.600 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
900 |
Equity
Shares |
Rs. 1000/- each |
Rs. 0.900 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.900 |
0.900 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.900 |
0.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.900 |
0.900 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.051 |
0.055 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.020 |
0.020 |
|
|
DEFERREX TAX ASSETS |
|
0.058 |
0.064 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
0.774 |
0.082 |
|
|
Cash & Bank Balances |
|
0.030 |
0.020 |
|
|
Other Current Assets |
|
0.010 |
0.008 |
|
|
Loans & Advances |
|
0.344 |
0.606 |
|
Total Current Assets |
|
1.158 |
0.716 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.932 |
0.920 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities |
|
0.932 |
0.920 |
|
|
Net Current Assets |
|
0.226 |
[0.204] |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.545 |
0.965 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.900 |
0.900 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2004 |
31.03.2003 |
|
Sales Turnover [including other income] |
|
1.925 |
0.522 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
0.426 |
0.132 |
|
Provision
for Taxation |
|
0.006 |
0.000 |
|
Profit/(Loss)
After Tax |
|
0.420 |
0.132 |
|
|
|
|
|
|
Total
Expenditure |
|
1.498 |
0.389 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
|
21.81 |
25.28 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
22.12 |
25.28 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
35.23 |
17.12 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.47 |
0.14 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
1.03 |
1.02 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
1.24 |
0.77 |
LOCAL AGENCY
FURTHER INFORMATION
Performance
:
During
the year under report of the company has been exploring various business
opportunities.
Fixed
Assets :
Land
& Building, Plant & Machinery, Vehicles, Furniture & Fittings, etc.
MINING & OPERATIONS
Iron & Steel is indeed the core of the Industries, and there is no modern civilization without it. Steel production is the driving force for almost all iron ore demand. World Steel production has seen significant growth in recent years.
With the burgeoning demand for Iron Ore
and growth in the market, KMMI opened up one more mine and started production
establishing two more units Trident Minerals and Trident Mining company private
Limited
Kariganur Iron & Steel Private Limited, (KISPL) was established with its
main objective of manufacturing of Iron & Steel products. The company is
off-shoot of KMMI. KISPL is embarking to establish a sponge Iron manufacturing
unit. Also the export division of KISPL is active in export of Iron Ore. KISPL
is looking for forward integration projects using natural resources i.e. iron
ore available in the region with suitable technology and open for such
technological arrangement.
Modern Technology has enormously magnified our ability. KMMI group is always in
tune with the latest technologies and has incorporated several advanced and
effective procedures for mining and processing. KMMI Apart from the existing
250 TPH Ore Dressing plant with through put capacity of 1.0 million tons per
annum, an additional integrated crushing and screening plant which is one of
the most advanced and modern and has a through put of 0.5 million tons per
annum has been established to augment total production capacity of 1.5 million
tons.
Mine management uses sophisticated communication and control systems for
effective co-ordination. KMMI has also gone ahead in an eco friendly mining
approach by introducing "Rock Breaker" thus avoiding secondary
blasting of rocks/boulders with explosives.
Systematic and Safe Mining is carried out with state of the art machineries and
equipment ensuring continuous and uninterrupted production with increased
productivity.
Kariganur
Mineral Mining Industry
Registered Office :
Embitee
Complex, Bellary Road, Hospet - 583 201, Karnataka, India
Phone
(Office) : 91-8394-265776/ 265447
Fax :
91-8394-265049
E-mail :
info@kmmindustry.com
Mines Office :
Kariganur
Post, Hospet Taluk, Bellary District, Karnataka, India
Phone :
91-8394-265949
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.44.27 |
|
UK
Pound |
1 |
Rs.86.71 |
|
Euro |
1 |
Rs.57.13 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--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 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 & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|