MIRA
INFORM REPORT
|
Report Date : |
21st March 2007 |
IDENTIFICATION
DETAILS
|
Name : |
MAYURA STEEL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Plot No. E-3, MIDC Industrial Estate, Shiroli, Kolhapur – 416 122,
Maharashtra, India |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
26.11.1983 |
|
|
|
|
Com. Reg. No.: |
11-31433 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27106MH1983PTC031433 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
KLPM01879D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCM7847D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Carry on the business as manufacturers, producers, dealers, agents of
Iron, Steel, Alloy Steel, High Alloy, Mild Steel, Carbon Steel, Forging
Steel, Stainless Steel, High Speed Steel, Bright Steel all other types of
ferrous and non ferrous metals and products thereof like ingots, billets,
bars, sheets, sections, angles channels, wires, stripes, flats, rounds and as
processor of metals, ferrous and non ferrous, into castings, forging,
rolling, re-rolling, drawing, extruding including all type of finished and
semi-finished goods, agricultural equipments, automobile parts, machine tools
and other hand tools, jigs, fixtures, line blades, tubes, pipes and to act as
a metal founders, fabricators, engineers, metal worker, machinists, iron and
steel worker, smiths, metallurgist, chemists and buyers and sellers of all
the items mentioned above, hardware and scraps. Carry on the business of manufacturers, suppliers, buyers, agents of
all types of machineries and equipments and in particular electrie ark
furnaces, induction, coreless, core type furnaces, foundry equipments like
sand muller, eoreover grinders, laddies, sand cordition plants used by Iron
and Steel, ceramic,, glass or any
other industry, also to manufacture spare parts, accessories required for
such machineries and equipments. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory
track records. Directors are reported as experienced and respectable
businessmen. Trade relations are 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
|
Registered Office : |
Plot No. E-3, MIDC Industrial Estate, Shiroli, Kolhapur – 416 122,
Maharashtra, India |
|
Tel. No.: |
91-230-2468691/ 92/ 93 |
|
Fax No.: |
91-230-2468690/ 2657104 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Chandrashekhar Shankar Dolli |
|
Designation : |
Managing Director |
|
Address : |
22/19, Sardar Colony, Tarabai Park, Kolhapur – 416 003, Maharashtra,
India |
|
Date of Birth/Age : |
17.06.1946 |
|
Date of Appointment : |
26.11.1983 |
|
|
|
|
Name : |
Mr. Ravi Chandrashekhar Dolli |
|
Designation : |
Director |
|
Address : |
22/19, Sardar Colony, Tarabai Park, Kolhapur – 416 003, Maharashtra,
India |
|
Date of Birth/Age : |
12.02.1974 |
|
Date of Appointment : |
23.03.1992 |
|
|
|
|
Name : |
Mrs. Veena Ravi Dolli |
|
Designation : |
Director |
|
Address : |
22/19, Sardar Colony, Tarabai Park, Kolhapur – 416 003, Maharashtra,
India |
|
Date of Birth/Age : |
27.12.1976 |
|
Date of Appointment : |
25.03.2000 |
|
|
|
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Chandrashekhar Shankar Dolli |
|
6220 |
|
Mrs. Jayashree Chandrashekhar Dolli
|
|
1440 |
|
Mr. Ravi Chandrashekhar Dolli |
|
4300 |
|
Mrs. Veena Ravi Dolli |
|
40 |
BUSINESS DETAILS
|
Line of Business : |
Carry on the business as manufacturers, producers, dealers, agents of
Iron, Steel, Alloy Steel, High Alloy, Mild Steel, Carbon Steel, Forging
Steel, Stainless Steel, High Speed Steel, Bright Steel all other types of
ferrous and non ferrous metals and products thereof like ingots, billets,
bars, sheets, sections, angles channels, wires, stripes, flats, rounds and as
processor of metals, ferrous and non ferrous, into castings, forging,
rolling, re-rolling, drawing, extruding including all type of finished and
semi-finished goods, agricultural equipments, automobile parts, machine tools
and other hand tools, jigs, fixtures, line blades, tubes, pipes and to act as
a metal founders, fabricators, engineers, metal worker, machinists, iron and
steel worker, smiths, metallurgist, chemists and buyers and sellers of all
the items mentioned above, hardware and scraps. Carry on the business of manufacturers, suppliers, buyers, agents of
all types of machineries and equipments and in particular electrie ark
furnaces, induction, coreless, core type furnaces, foundry equipments like
sand muller, eoreover grinders, laddies, sand cordition plants used by Iron
and Steel, ceramic,, glass or any
other industry, also to manufacture spare parts, accessories required for
such machineries and equipments. |
|
|
|
|
Products : |
Þ Steel Castings Þ Iron Þ Steel Þ Alloy Steel Þ High Alloy Þ Mild Steel Þ Carbon Steel Þ Forging Steel Þ Stainless Steel Þ High Speed Steel Þ Bright Steel Þ Ferrous and Non
Ferrous Metals |
GENERAL
INFORMATION
|
No. of Employees : |
About 100 |
|
|
|
|
Bankers : |
Þ
Bank of Baroda, Shivaji Chowk, Kolhapur,
Maharashtra, India. Þ
HDFC Bank Ltd., Tarabai Park, Kolhapur, Maharashtra,
India. Þ State
Bank of India, Shiroli, Kolhapur, Maharashtra, India. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
S M Paramdekar and Company Chartered Accountants |
|
Address : |
1586, E, 4th Lane, Rajarampuri, Kolhapur – 416 008,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100/- |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000 |
Equity Shares |
Rs. 100/- |
Rs. 1.200 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
A with Profit and Loss figures for 2006 will be sent soon.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.200 |
1.200 |
|
|
2] Reserves & Surplus |
|
74.357 |
54.160 |
|
|
NETWORTH |
|
75.557 |
55.360 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
12.696 |
16.793 |
|
|
2] Unsecured Loans |
|
15.578 |
11.728 |
|
|
TOTAL BORROWING |
|
28.274 |
28.521 |
|
|
DEFERRED TAX LIABILITIES |
|
8.460 |
3.565 |
|
|
|
|
|
|
|
|
TOTAL |
|
112.291 |
87.446 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
65.438 |
30.290 |
|
|
Capital work-in-progress |
|
0.000 |
9.917 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.043 |
0.043 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
12.635 |
12.107 |
|
|
Sundry Debtors |
|
43.251 |
30.995 |
|
|
Cash & Bank Balances |
|
2.727 |
3.964 |
|
|
Other Current Assets |
|
3.811 |
2.480 |
|
|
Loans & Advances |
|
25.412 |
19.315 |
|
Total
Current Assets |
|
87.836 |
68.861 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
26.426 |
13.365 |
|
|
Provisions |
|
14.600 |
8.300 |
|
Total
Current Liabilities |
|
41.026 |
21.665 |
|
|
Net Current Assets |
|
46.810 |
47.196 |
|
|
|
|
|
|
|
|
TOTAL |
|
112.291 |
87.446 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.03 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.14 |
3.18 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Web :
Profile
Established in 1983, with
almost more than 2 decades of Total Customer Satisfaction and Technological Innovation,
Mayura Steels surges ahead keeping in view the Global Scenario.
Mayura thanks to all the clients, who supported and made it to initiate all
in-house facilities and interest shown in products.
The group was established
in the year 1983, and has always been a pioneer in initiating changes with the
times. Spread over 3,800 sq.mtrs. of area, with all inbuilt facilities that
facilitate pattern making, moulding, casting, heat treatment and machining to
finishing.
During the past two decades, the company has grown by leaps and bounds,
budding with technology, blossoming with experience and working on diversified
job-works of casting for world renowned corporate.
Accepting challenges and challenging the limits has been, but inherited.
The company has accredited with ISO TS16949 :2002 and every single product
rolling out is as per with global standards.
Catering about 70% production for Excavator Tips & Adapters to
Original Equipment Manufacturers in India; like Tata-Hitachi, L&T-Komatsu,
Caterpillar India, Volvo India, L&T-Case and JCB India.
Infrastructure
Established:
1983
Total
Area: 3780 Sq.Mtrs.
Built
up Area: 1934 Sq.Mtrs.
Water:
River Water (from M.I.D.C.)
Own Tubewell
Power: 425 KVA (MSEB)
125 KVA + 400 KVA
Generator
230 KW Windmill (2
Numbers)
Total
Manpower: 73 Personnels
- Administrative and Commercial: 12
- Technical staff: 10
- QC/Inspection staff: 05
- Skilled workers: 26
- Unskilled workers: 20
Products
MINING
Þ Tips & Adapters for Excavator
Buckets
Þ Excavator & Tooling Castings.
Þ Excavator under carriage items.
GENERAL
ENGINEERING
Þ Heat Resisting Trays & Fixtures.
Þ Exports
PETRO-CHEMICAL
RAILWAYS
Þ Wear resistant casting for Rail / Car Application.
MINING
+ CEMENT
Þ Abrasion & Wear Resistant Castings.
Þ Wear Resistant toothed rolls sprocket
used for ash
Þ Handling system in sea water &
NTPC.
Clients
Þ
Tata – Hitachi
Þ
Larsen and
Toubro – Komatsu
Þ
Caterpillar
India
Þ
JCB India
Limited
Þ
Volvo India
Limited
Þ
Larsen and
Toubro – Case Equipment Limited
Þ
Bharat Earth
Movers Limited
Þ
Tata – Motors
Þ
Mahindra Ash
Tech
Þ Tractor Engineers
Contact
Mayura Steels Private Limited
E-3,
M.I.D.C Shiroli, Kolhapur - 416 122, Maharashtra, India.
Phone
: 91-230-2468691 ( 4 Lines ).
Fax
: 91-230-2468690/ 231 2657104.
Website
: http://www.mayurasteel.com
Email : info@mayurasteel.com
Bankers Charges
Report as per Registry
Name of the Company : Mayura Steel Private
Limited
Presented by : -- HDFC Bank Limited
|
1. Date and
description of the instrument creating or evidencing the charge
|
Dt. 13.01.2005,
Letter of Hypothecation |
|
2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 10.000
millions |
|
3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
|
All the stock in
trade, both present and future raw material finished goods, goods in process
of manufacturing plant and machinery, together with all the book debts
outstanding monies receivables, claims and bills both present and future and
fixtures. |
|
4. Gist of the
terms and conditions and extent and operation of the charge. |
1. Facility
granted in Cash Credit 2. Bank is
entitled to change interest at such rate as may be determined by the bank 3. The charge and
hypothecation shall be continues till such time all the borrower dues have
been paid in full. |
|
5. Names, address
and description of the
persons entitled to charge |
HDFC Bank Limited
Kolhapur Branch,
Kolhapur, Maharashtra, India |
|
6. Date and brief
description of instrument modifying the charge |
N A |
|
7. Particular of modification specifying the terms and conditions or the
extent or operation of the charge in
which modification is made and
the details of modification |
N A |
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.43.70 |
|
UK Pound |
1 |
Rs.85.90 |
|
Euro |
1 |
Rs.58.25 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|