MIRA
INFORM REPORT
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Report Date : |
04.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PYROCAST INDIA PRIVATE LIMITED |
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Registered Office : |
115, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.12.2001 |
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Com. Reg. No.: |
55-113411 |
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CIN No.: [Company
Identification No.] |
U27209DL2001PTC113411 |
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IEC No.: |
0504035185 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP07078B |
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PAN No.: [Permanent
Account No.] |
AACCP4186B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Aluminium Forging and Aluminium
Extrusion. |
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 : |
USD 36000 |
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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 : |
115, |
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Tel. No.: |
91-11-22143693 |
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Mobile No.: |
91-9810222370 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. 309, F.I.E.
Patparganj Industrial Area, |
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Tel. No.: |
91-11-22145326/22143693/42141063/22143693 |
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Fax No.: |
91-11-22145326/42141563 |
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Email : |
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Area : |
10000 sq. ft. [Owned] |
DIRECTORS
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Name : |
Mr. Balwant Rai Gupta |
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Designation : |
Director |
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Address : |
DU – 162, Vishakha Enclave, Pitampura, |
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Date of Birth/Age : |
01.04.1947 |
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Date of Appointment : |
01.04.2004 |
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Election Commission Identity Card No. : |
DL03019141547 |
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Name : |
Mr. Rajesh Gupta |
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Designation : |
Director |
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Address : |
DU – 162, Vishakha Enclave, Pitampura, |
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Date of Birth/Age : |
11.04.1973 |
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Date of Appointment : |
10.12.2001 |
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Election Commission Identity Card No. : |
DL03019141655 |
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Name : |
Mr. Amar Gupta |
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Designation : |
Director |
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Address : |
DU – 162, Vishakha Enclave, Pitampura, |
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Date of Birth/Age : |
24.04.1976 |
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Date of Appointment : |
10.12.2001 |
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Election Commission Identity Card No. : |
DL03019141656 |
KEY EXECUTIVES
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Name : |
P S Soni and Company |
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Designation : |
Company Secretary |
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Address : |
F – 15, Ansal Utility Commercial Centre, Opposite Jwala Heri Market,
Paschim Vihar, New Delhi – 110063, India |
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Tel. No.: |
91-11-43231389 / 27045515 |
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Fax No.: |
91-98102622298 / 9910017705 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Mr. Balwant Rai Gupta |
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34.00 % |
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Mr. Rajesh Gupta |
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33.00 % |
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Mr. Amar Gupta |
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33.00 % |
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Total |
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100.00
% |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Aluminium Forging and Aluminium
Extrusion. |
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Products : |
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Terms : |
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Selling : |
Credit [60-90 days] |
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Purchasing : |
Credit [30 days] |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Forgings |
MT |
300 |
148.44 |
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Extrusion |
MT |
240 |
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GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
70 [In Office : 10 and In Factory 60] |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gupta Vivek and Associates Chartered Accountants |
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Address : |
203-204, Shivlok House – I, Karampura Commercial Complex, New |
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Tel No. : |
91-11-25920845 / [Res.] 41026361 |
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Mobile No.: |
91-9810045830 / 9868234983 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
7.000 |
5.000 |
5.000 |
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2] Share Application Money |
1.000 |
2.000 |
1.000 |
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3] Reserves & Surplus |
1.128 |
0.611 |
0.420 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.128 |
7.611 |
6.420 |
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LOAN FUNDS |
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1] Secured Loans |
0.415 |
0.534 |
0.653 |
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2] Unsecured Loans |
6.648 |
3.733 |
3.228 |
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TOTAL BORROWING |
7.063 |
4.267 |
3.881 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
16.191 |
11.878 |
10.301 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.308 |
5.046 |
3.908 |
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Capital work-in-progress |
0.139 |
0.000 |
0.175 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.915
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3.269 |
2.859 |
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Sundry Debtors |
9.121
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4.721 |
3.580 |
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Cash & Bank Balances |
0.304
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0.852 |
0.562 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.616
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2.213 |
1.218 |
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Total
Current Assets |
15.956
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11.055 |
8.219 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.846
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3.835 |
1.853 |
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Provisions |
0.389
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0.448 |
0.244 |
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Total
Current Liabilities |
7.235
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4.283 |
2.097 |
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Net Current Assets |
8.721
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6.772 |
6.122 |
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MISCELLANEOUS EXPENSES |
0.023 |
0.060 |
0.096 |
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TOTAL |
16.191 |
11.878 |
10.301 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
57.032 |
42.921 |
37.720 |
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Other Income |
3.433 |
1.532 |
0.000 |
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Total Income |
60.465 |
44.453 |
37.720 |
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Profit/(Loss) Before Tax |
0.827 |
0.394 |
0.326 |
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Provision for Taxation |
0.310 |
0.204 |
-- |
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Profit/(Loss) After Tax |
0.517 |
0.190 |
0.326 |
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Expenditures : |
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Materials Consumed |
31.927 |
13.183 |
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Trading Purchase |
12.175 |
19.539 |
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Forging Die Purchase |
0.010 |
0.026 |
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Excise Duty Paid |
5.418 |
3.225 |
36.232 |
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Manufacturing Expenses |
4.433 |
3.566 |
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Administrative, Selling and other Expenses |
2.464 |
2.592 |
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Preliminary Expenses |
0.036 |
0.036 |
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Interest |
0.949 |
0.455 |
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Depreciation & Amortization |
2.227 |
1.436 |
1.162 |
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Total Expenditure |
59.639 |
44.058 |
37.394 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.86
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0.43 |
0.86 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.45
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0.92 |
0.86 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.55
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2.45 |
2.69 |
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Return on Investment (ROI) (PBT/Networth) |
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0.09
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0.05 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.57
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1.12 |
0.93 |
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Current Ratio (Current Asset/Current Liability) |
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2.21
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2.58 |
3.92 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
HINDALCO –
Mr. Dilip Bahety – 91-9990203573
Capital Metals – Daryagani Delhi
Mr. Dinesh Bafna – 91-9810019766
Indo Allisys Industries –
Mr. C. L. Kanungo – 91-11-23738011/12
Fixed Assets
- Plant and Machinery
- Generator Set
- Office Equipment
- Tools and Dies
- Furniture and Fixture
- Air Conditioner
- Building
- Car
- Computer and Software
- Motor Cycle
- Electric Installation
As Per Website
Forgings or forged components are immensely used in many industrial applications. With a perfect combination of highly skilled workforce and the latest innovative technologies, subject introduce themselves as a reputed ISO 9001:2000 certified manufacturer and exporter offering a gamut of forged metal components applicable for diverse industrial applications. They are engaged in brass forging, aluminium forging and other metal forging processes. Exhibiting an impressive monthly production capacity of 4,00,000 pieces, their products are used in various industrial sectors such as automobile components, cycle parts, defence & railways, etc. With its impressive product range, established reputation and proven technical expertise, the company has earned a remarkable market share within a very short time span. Some of their major clients are counted as Knorr Bremse, Continental Engines, Taurus, ITPPL and the like.
Subject are a quality driven organization and follow
stringent quality control norms and principles at every stage of their process that
ensure a flawless production. Their sincere approaches towards product
innovation and client satisfaction provide them a leading edge over other
players in the similar arena. They are promoted and managed by technocrats and
professionals having vast industrial experience of 40 years in the arena of
metal manufacturing and auto components. Their future plans are majorly in
context to the
Quality
A team of well trained professionals strictly monitors the entire
manufacturing process that almost invalidates every possibility of quality
degradation. They follow standardized norms and practices in their
manufacturing process to deliver world class products. The capability to ensure
timely delivery, irrespective of the order size is another distinctive feature
that clearly reflects the core competencies of this engineering organization.
Their products are manufactured in conformance to American, British, German,
Japanese and Indian standards.
Client
Satisfaction
Their sole business motto is to deliver high quality forged
components at economical prices for diverse industrial usage. They are better
known for their healthy trade practices amongst their business associates.
Product innovation and improvisation remain an integral part of their system
that bears fruits for them in the form of a huge client base spread at every
corner of the earth.
Infrastructure
Ultra modern machines, trained & qualified professionals and a
spacious warehouse- they all explain their sound infrastructural abilities in a
joint approach, enabling them to realize all their business dreams. They
regularly upgrade their technologies in order to deliver the most advance range
of products to their valued clients. The company invests regularly to promote
knowledge in the area of technical development, research and production.
Hallmarks
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Keeping in tune with the latest
manufacturing techniques in the related field
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Work with close coordination with their
esteemed customers
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Right combination of personnel,
machines--the total operating system
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Company USP defined by customer
satisfaction and expansion of client base
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Meeting the exacting requirements of
the customers and standards of the industry
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Competitive prices--the best price
offered in the market
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Enhancement of products both in quality
and innovation.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.79 |
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1 |
Rs.81.23 |
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Euro |
1 |
Rs.56.41 |
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 |
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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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 |
|
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 |
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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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