MIRA
INFORM REPORT
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Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SHREE BANSI METAL AND ALLOYS PRIVATE LIMITED |
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Registered Office : |
654 Mahadev Dehla, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.04.1997 |
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Com. Reg. No.: |
032163 |
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CIN No.: [Company
Identification No.] |
U27106GJ1997PTC032163 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Ferrous and non Ferrous Metal Scraps |
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 : |
USD17000 |
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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 and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
654 Mahadev Dehla, |
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Tel. No.: |
91-79-22163337/ 22172394/ 22162661/ 22865186/ 22867709 |
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Mobile No.: |
91-9377011655 |
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Fax No.: |
91-79-22173573 |
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E-Mail: |
DIRECTORS
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Name : |
Mr. Kabra Shankerlal B. |
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Designation : |
Director |
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Address : |
14, Bhimnath Society, B/H Circuit House, Shahibaug, Ahmedabad-380004,
Gujrat |
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Date of Birth/Age: |
20.04.1941 |
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Date of Appointment : |
23.04.1997 |
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E-Mail: |
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Name : |
Mr. Kabra Bansilal S. |
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Designation : |
Director |
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Address : |
14, Bhimnath Society, B/H Circuit House, Shahibaug, Ahmedabad-380004,
Gujrat |
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Date of Birth/Age: |
10.04.1964 |
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Date of Appointment : |
23.04.1997 |
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E-Mail: |
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Name : |
Mr. Kabra Surendra S. |
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Designation : |
Director |
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Address : |
14, Bhimnath Society, B/H Circuit House, Shahibaug, Ahmedabad-380004,
Gujrat |
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Date of Birth/Age: |
21.08.1969 |
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Date of Appointment : |
23.04.1997 |
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E-Mail: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Equity share capital breakup
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Category |
Percentage of holdings |
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Directors/ Relatives of Directors |
35.00 |
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Other top fifty
Shareholders |
65.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading of Ferrous and non Ferrous Metal Scraps |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Wadhawan Pandey and Company Chartered Accountant |
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Address : |
213, Sampanna, Opposite Havmor, B/H Navrangpura Bus Stand,
Navrangpura, Ahmedabad – 380009, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,000,00 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3,037,00 |
Equity Shares |
Rs. 10/- each |
Rs. 3.037
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.037 |
3.037 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.280 |
0.806 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.317 |
3.843 |
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LOAN FUNDS |
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1] Secured Loans |
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10.300 |
6.753 |
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2] Unsecured Loans |
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41.476 |
22.647 |
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TOTAL BORROWING |
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51.776 |
29.400 |
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DEFERRED TAX LIABILITIES |
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0.077 |
0.067 |
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TOTAL |
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56.170 |
33.310 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.094 |
0.457 |
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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 |
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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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23.219 |
28.379 |
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Sundry Debtors |
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82.262 |
61.069 |
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Cash & Bank Balances |
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2.521 |
2.965 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.769 |
3.709 |
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Total
Current Assets |
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109.771 |
96.121 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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54.135 |
62.911 |
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Provisions |
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0.572 |
0.381 |
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Total
Current Liabilities |
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54.707 |
63.292 |
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Net Current Assets |
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55.065 |
32.830 |
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MISCELLANEOUS EXPENSES |
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0.011 |
0.022 |
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TOTAL |
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56.170 |
33.310 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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253.772 |
-- |
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Other Income |
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0.000 |
-- |
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Total Income |
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253.772 |
-- |
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Profit/(Loss) Before Tax |
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0.840 |
0.546 |
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Provision for Taxation |
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0.366 |
0.206 |
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Profit/(Loss) After Tax |
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0.474 |
0.340 |
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CIF Value |
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66.321 |
83.224 |
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Expenditures : |
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Total Expenses |
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252.797 |
-- |
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Depreciation |
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0.135 |
0.077 |
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Total Expenditure |
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252.932 |
0.077 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.19 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.33 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.76 |
0.57 |
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Return on Investment (ROI) (PBT/Networth) |
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0.19 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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24.66 |
24.12 |
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Current Ratio (Current Asset/Current Liability) |
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2.01 |
1.52 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
SHREE BANSI METAL AND ALLOYS PRIVATE LIMITED |
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Presented By |
Shri Bansilal S.
Kabra (Director) |
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1) Date and description of instrument creating the change |
31.08.2000 Agreement for Cash Credit |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.100
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 |
Hypothecation of
Stock such as ferrous and non-ferrous metals, scraps and minor virgin metals
etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest 15.75% Margin 25% Period: 1 year |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Agreement of Cash
Credit and letter of Credit Dated 17.08.2004 |
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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. |
The Original limit
of Rs. 2.100 Millions was increased from Rs. 2.100 Millions to Rs. 7.500
Millions by addition of Rs 5.400 millions A New Letter of
Credit limit of Rs. 7.500 Millions is sanctioned vide the same agreement. |
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Corporate identity
number of the company |
U27106GJ1997PTC032163 |
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Name of the
company |
SHREE BANSI METAL AND ALLOYS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
654 Mahadev Dehla, |
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Type of charge |
Hypothecation |
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Particular of the
prorerty charge |
The whole of the
borrowers stock of ferros and non ferros metal, Alluminium, ingot and Scrap etc.
Located at 184/A, Phase – III, GIDC, Vatva, Ahmedabad and C/O. Kailash Rice
and Pulse Mill, Bareja, Ahmedabad |
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Charge
identification number of the charge to be modified |
90111530 |
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Amount secured by
the charge |
Rs. 20.000
Millions |
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Brief description
of the instrument modifying the charge under section 135 |
Agreement for
Cash Credit Hypothecation of godds and letter of credit/ Guarantee/Bill
purchase/ Hypothecation Agreement |
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Date of latest
modification prior to the present modification |
30.03.2006 |
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Particulars of
the present modification |
Existing Cash
credit limit increased from Rs. 7.500 millions Existing Letter
of credit limit increasd from Rs. 7.500 millions to Rs. 10.000 millions |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.40.84 |
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1 |
Rs.80.47 |
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Euro |
1 |
Rs.54.32 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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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