MIRA
INFORM REPORT
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Report Date : |
21.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ALLIANCE MINERALS PRIVATE LIMITED |
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Registered Office : |
282, Linghi Chetty Street, Chennai-600 001, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
15.07.1998 |
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Com. Reg. No.: |
18-040815 |
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CIN No.: [Company
Identification No.] |
U13209TN1998PTC040815 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEA02962B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of metals and minerals of all kinds and granites and
dimensional stones. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 121256 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject appears to be a small trading company having moderate track records.
Trade relations and payment behaviours are unknown. Financial position is
also moderate. Initially, the company can be considered for any business dealings on
safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
282, Linghi Chetty Street, Chennai-600 001, Tamilnadu, India |
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Tel. No.: |
91-44-25340061 |
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Fax No.: |
91-44-25340435 |
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E-Mail : |
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Overseas Office: |
Mark Crouse |
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Tel. No.: |
91-830-5986606/91-515-7797951 |
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E-Mail : |
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Overseas Office : |
Alliance Minerals North America, L.L.C., 1575 NW 106th Street,
Clive, IA 50325, United States of America. |
DIRECTORS
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Name : |
Mr. Shiv Prakash Goenka |
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Designation : |
Director |
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Address : |
9, Maharaja Suryarao Road, Alwarpet, Chennai-600 018. |
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Date of Birth/Age : |
10.08.1940 |
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Date of Appointment : |
15.07.1998 |
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Name : |
Mr. Samir Goenka |
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Designation : |
Director |
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Address : |
9, Maharaja Suryarao Road, Alwarpet, Chennai-600 018. |
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Date of Birth/Age : |
22.07.1955 |
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Date of Appointment : |
15.07.1998 |
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Name : |
Mr. Binod Kumar Choudhary |
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Designation : |
Director |
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Address : |
The Highlands No. 1 & 2, IV Cross Street, Kilapauk, Chennai-600
010. |
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Date of Birth/Age : |
22.07.1955 |
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Date of Appointment : |
02.06.2004 |
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Name : |
Mr. S S Murthy |
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Designation : |
Director |
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Address : |
Flat No. 1, Ahuja Regency No. 1, Temple Street, Kilapauk, Chennai-600
010 |
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Date of Birth/Age : |
23.01.1958 |
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Date of Appointment : |
02.06.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Shiv Prakash Goenka |
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16,54,899 |
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Mr. Samir Goenka |
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101 |
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M/S Gimpex Limited |
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35,000 |
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M/S Gimpex Metal Limited |
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10,000 |
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Percentage of
Holding |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of metals and minerals of all kinds and granites and
dimensional stones. |
GENERAL
INFORMATION
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No. of Employees : |
10 |
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Bankers : |
Syndicate Bank, No. 69, Armenian Street, Chennai, Tamilnadu-600 001. |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Krishnan and Giri Chartered Accountants |
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Address : |
No. 72, Thatha Muthiappan Street, Chennai, Tamilnadu-600 001 |
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Associates/Subsidiaries : |
v Stone and Slates
Private Limited v Mercury Granites
Private Limited v Indian Real
Stones Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150,000,00 |
Equity Shares |
Rs.10/- Each |
150.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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34,675,00 |
Equity Shares |
Rs.10/- Each |
34.675
Million |
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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30.675 |
17.000 |
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2] Share Application Money |
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0.000 |
5.037 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.361) |
(0.299) |
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NETWORTH |
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30.314 |
21.738 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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20.735 |
0.659 |
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TOTAL BORROWING |
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20.735 |
0.659 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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51.049 |
22.397 |
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APPLICATION OF FUNDS |
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0.000 |
0.000 |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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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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41.933 |
18.030 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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7.244 |
0.185 |
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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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1.174 |
5.284 |
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Total
Current Assets |
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8.418 |
5.469 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.920 |
1.572 |
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Provisions |
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0.006 |
0.006 |
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Total
Current Liabilities |
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2.926 |
1.578 |
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Net Current Assets |
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5.491 |
3.890 |
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MISCELLANEOUS EXPENSES |
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3.625 |
0.477 |
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TOTAL |
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51.049 |
22.397 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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66.917 |
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Total Income |
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66.917 |
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Profit/(Loss) Before Tax |
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(62.415) |
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Profit/(Loss) After Tax |
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(62.415) |
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Total Expenditure |
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129.332 |
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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93.27 |
N.A. |
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Net Profit Margin (PBT/Sales) |
(%) |
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93.27 |
N.A. |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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741.44 |
N.A. |
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Return on Investment (ROI) (PBT/Networth) |
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2.05 |
N.A. |
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Debt Equity Ratio (Total Liability/Networth) |
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0.09 |
0.07 |
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Current Ratio (Current Asset/Current Liability) |
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2.88 |
3.47 |
LOCAL AGENCY
FURTHER INFORMATION
Related Parties
Description (Subsidiaries, Joint Ventures, Affiliates)
PROFIT & LOSS
ACCOUNT
( All figures are
in Rupees Millions )
|
PARTICULARS |
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Mercury Granites
Private Limited 31.03.2006 |
Stones and Slates
Private Limited 31.03.2006 |
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Sales Turnover |
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144.341 |
50.082 |
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Total Income |
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144.341 |
50.082 |
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Profit/(Loss) Before Tax |
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6.689 |
0.238 |
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Provision for Taxation |
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1.032 |
0.116 |
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Profit/(Loss) After Tax |
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5.657 |
0.122 |
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Total Expenditure |
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137.652 |
49.844 |
Form No: 8
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U13209TN1998PTC40815 |
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Name of the
company |
ALLIANCE MINERALS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
282, Linghichetty
Street Chennai-1, Chennai-1, Chennai-1, Tamilnadu-600 001, India |
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Type of charge |
v
Immovable
property v
Book Debts v
Movable
Property (not being pledge) v
Stock of Raw
materials v
WIP v
Finished
Goods v
Store |
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Particular of
charge holder |
Syndicate Bank, No.
69, Armenian Street, Chennai-600 001, Tamilnadu, India |
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Nature of
description of the instrument creating or modifying the charge |
v
Composite
Hypothecation Agreement v
Omnibus
Counter Guarantee v
Memorandum
of Agreement v
Comprehensive
Pre and Post Shipment Agreement. |
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Date of
instrument Creating the charge |
20.03.2007 |
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Amount secured by
the charge |
Rs.499.500
Million |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest At Syndicate Bank
Prime lending rate for the present. 12.25% per annum Terms of
repayment – Term loan to be
repaid in equated monthly installments @ 6.371 Millions per annum Margin – For Packing
Credit Loan 25%: for term loan 23% Extent operation
of the charge –
Others- In case of
default penal at two percent over the applicable rate is levied. |
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Short particulars
of the property charged |
v
Hypothecation
by way of first charge on stock of raw materials, work in progress, finished
goods, stores and spares, machineries such as gang saws, polishing machines,
EOT cranes, and such other machinery/equipments and electrical fittings,
motors pump sets to be bought and installed in the factory premises. v
Equitably
mortgage of land and building (to be
constructed) at APIIC Industrial Area, in plot nos. 3a, 3B, 156, 157 and 159
to 171 in survey nos. 225, 228, 230, 231, 233 and 234. |
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.39.34 |
|
UK Pound |
1 |
Rs.80.72 |
|
Euro |
1 |
Rs.57.71 |
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 |
6 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
- |
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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 |
NO |
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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 |
|
24 |
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 |
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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 |
|
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. |
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 |
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<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 |
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