MIRA
INFORM REPORT
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Report Date : |
19.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SARTHAK METAL MARKETING PRIVATE LIMITED |
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Registered Office : |
B.B.C Colony Khurspar G.E.Road, Bhilai, C.G. Madhya Pradesh, India |
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Country : |
India |
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Financials (as on) : |
31.03.2002 |
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Date of Incorporation : |
28th July 1995 |
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Com. Reg. No.: |
10-9772 |
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CIN No.: [Company
Identification No.] |
U51102MP1995TC009772 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JBPS03184G |
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PAN No.: [Permanent
Account No.] |
AADCS2008J |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Manufacturers of Oxygen Gas and Traders of Iron and Steel |
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 20000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Unknown |
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Comments : |
Subject is engaged in trading of iron and steel and manufacturers of gas. The company has moderate track of performance and financial states. Its payments are reported as slow and delayed. The company can be considered for any business dealings on safe and secured trade terms and conditions based on available information. |
LOCATIONS
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Registered Office : |
B.B.C Colony Khurspar G.E.Road, Bhilai, C.G. Madhya Pradesh, India |
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Corporate Office : |
SHCS-40, Sunder Nagar, P.O. Vaishali Nagar, Bhilai, Madhya Pradesh, India |
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Factory 1 : |
9-B , Gondwara, Urla Industrial Area, Raipur-493221, Madhya Pradesh BBC, Colony, Khyrshipar, GE Road, Bhilai |
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Tel. No.: |
91-771-325261 91-788-355515/353289/355915 |
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Fax No.: |
91-788-355915 |
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E-Mail : |
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Branches : |
183,Nandanvan, Main Road, Nagpur 440009, Maharashtra, I |
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Tel No: |
91-712-2745458 |
DIRECTORS
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Name : |
Mr. Manoj Kumar Bansal |
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Designation : |
Directors |
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Date of Appointment : |
28th July 1995 |
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Name : |
Mr. Anoop Kumar Bansal |
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Designation : |
Directors |
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Date of Appointment : |
28th July 1995 |
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Name : |
Mr. Kishor Kumar Bansal |
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Designation : |
Directors |
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Date of Appointment : |
28th July 1995 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Manoj Kumar Bansal |
84000 |
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Mr. Anoop Kumar Bansal |
118000 |
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Mr. Kishor Kumar Bansal |
99500 |
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Ms. Shalini Shah |
21500 |
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Ms. Champaben Shah |
18800 |
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Ms. Saroj Grovon |
15000 |
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Mr. Manoj Kumar Bansal (Huf) |
17500 |
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Mr. Dashraj Bansal (HUF) |
45000 |
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Mr. Champalal Shah(HUF) |
21000 |
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B. Usha Shree |
4500 |
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Minar Resourers Exltrim Private Limited |
60000 |
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Ms. Neelam Rani Bansal |
4500 |
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Mr. P Arshant |
5000 |
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Mr. Achyut Joshi |
5000 |
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Amalendu Takukdar |
3000 |
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Balram Dewany |
4000 |
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Sanjay Shah |
10000 |
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Anoop Kumar Bansal (HUF) |
15000 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers of Oxygen Gas and Traders of Iron and Steel |
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GENERAL
INFORMATION
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Customers : |
SAIL-Bokaro-Jamshedpur, Jindal Steel and Power Limited-Raigarh, ESSAR Steels- Hazira, Bhushan- Chandigarh, Sunflag Iron and Steel Company Limited- Bhandara |
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No. of Employees : |
16-25 |
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Bankers : |
State Bank of India Commercial Branch Bhilai |
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Facilities : |
Cash Credit limit : Rs. 29.300 millions against stock of raw material, finished goods, semi finished goods (C.C. 13.000 millions+ SL 13.800 millions+ LC 10.000 millions B 42.500 miilions) |
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Banking Relations
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Unknown |
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Auditors : |
B. vishwanth and company Chartered Accountant Bhilai |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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600000 |
Equity Share |
Rs. 10 each |
Rs. 6.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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551800 |
Equity Share |
Rs. 10 each |
Rs. 5.518 millions |
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Share application money |
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Rs. 0.375 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
No subsequent financials could be available from any sources.
Management remained non cooperative during current investigation.
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2002 |
31.03.2001 |
31.03.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.893 |
5.838 |
5.518 |
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3] Reserves & Surplus |
0.737 |
0.903 |
0.856 |
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NETWORTH
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6.630 |
6.741 |
6.374 |
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LOAN FUNDS |
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1] Secured Loans |
1.538 |
2.443 |
3.442 |
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2] Unsecured Loans |
0.573 |
0.441 |
0.00 |
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TOTAL BORROWING
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2.111 |
2.884 |
3.442 |
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DEFERRED TAX LIABILITIES |
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TOTAL
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8.741 |
9.625 |
9.816 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net
Block]
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4.645 |
5.505 |
5.822 |
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Capital
work-in-progress
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1.830 |
0.712 |
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INVESTMENT
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-- |
-- |
-- |
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DEFERREX TAX ASSETS
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CURRENT ASSETS,
LOANS & ADVANCES
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Inventories
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0.019
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0.130 |
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Sundry Debtors
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1.955
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2.945 |
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Cash & Bank
Balances
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0.111
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0.342 |
5.471 |
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Other Current
Assets
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2.169
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2.030 |
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Loans &
Advances
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0.066
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0.240 |
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Total Current
Assets
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4.320
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5.687 |
5.471 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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1.511
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1.700 |
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Provisions
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0.550
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0.585 |
1.489 |
Total
Current Liabilities
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2.061
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2.285 |
1.489 |
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Net Current Assets
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2.259
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3.398 |
3.982 |
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MISCELLANEOUS
EXPENSES
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0.007 |
0.010 |
0.012 |
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TOTAL
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8.741 |
9.625 |
9.816 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
31.03.2002 |
31.03.2001 |
Sales Turnover
[including other income]
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7.795 |
9.959 |
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LOCAL AGENCY
FURTHER INFORMATION
Due to decrease in Iron and Steel trade division profitability of steel trading suffered cash losses for conservative 3 years. However gas division performance is good and also earned profit before depreciate Rs. 0.886 millions.
Gas division has produced Rs. 0.797 millions cubic meter gas on cabaret to Rs. 0.772 millions meter previous years 2000-01. However average ratio of realization has decreased for Rs. 0.925 millions per cubic meter in 2000-01 to Rs. 0.829 cubic meter in current year.
However overall current year PBDIT of the company reduced to Rs. 1.042 millions for Rs. 1.362
Of previous year
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.39 |
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UK Pound |
1 |
Rs.85.16 |
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Euro |
1 |
Rs.57.60 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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28 |
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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