MIRA
INFORM REPORT
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Report Date : |
25.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AMBUJA METAL INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
Plot No. 1063, Behind MIDCO, Near |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.10.1979 |
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Com. Reg. No.: |
04-3535 |
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CIN No.: [Company
Identification No.] |
U27310GJ1979PTC003535 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA20351C |
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PAN No.: [Permanent
Account No.] |
AABCA3220C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Trader of Ferrous and Non-ferrous Metals, mainly Stainless Steel |
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 50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory track. Directors are reported as experienced, respectable and having satisfactory means of their own. Their 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 : |
Plot No. 1063, Behind MIDCO, Near |
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Tel. No.: |
91-79-2583 1989 / 2583 1953 |
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Fax No.: |
91-79-2642 6694 |
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E-Mail : |
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Website : |
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Corporate Office : |
8/10, 2nd |
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Tel. No.: |
91-22-2386 7792 / 2385 757141 / 66394501 / 66394504 / 23817802 |
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Fax No.: |
91-22-2380 9797/ 23808180 |
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E-Mail : |
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Branches: |
133, |
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Tel. No.: |
91-22-2382 4143 / 2385 7141 / 2386 7792 / 2385 7132 |
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Fax No.: |
91-22-2380 9797 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Cunilal Tilokchand Shah |
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Designation : |
Chairman and Managing Director |
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Address : |
14-C, Khotachiwadi, 3rd Khandeker Rao, Mumbai –
400 004, |
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Date of Birth/Age : |
17.10.1981 |
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Date of Appointment : |
17.08.2006 |
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Date of ceasing: |
12.09.2005 |
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Directorship in other companies |
CIN of the Company: U24231GJ1988PTC011091 Name of the Company: Ambuja Intermediates Private limited Designation : Director CIN of Company: U24230GJ2005PTC045597 Name of the company: Lonza Pharmaceuticals Private Limited Designation : Director |
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Name : |
Mr. Jivraj N. Shah |
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Designation : |
Director |
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Address : |
14-C, Khotachiwadi, 3rd Khandeker Rao, Mumbai |
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Date of Birth/Age : |
01.06.1969 |
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Name : |
Mr. Ramanlal R. Shah |
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Designation : |
Director |
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Address : |
6, Jadav Bhavan, 3rd Floor, |
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Date of Birth/Age : |
01.06.1968 |
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Name : |
Mr. Ramanlal Gambhubhai Shah |
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Designation : |
Director |
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Address : |
6, Jadav Bhavan, 3rd Floor, |
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Date of Birth/Age : |
01.04.1958 |
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Name : |
Mr. Ramanlal Dinesh Shah |
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Designation : |
Director |
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Address : |
3-4 |
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Date of Birth/Age : |
05.10.1963 |
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Name : |
Mr. Gambhirmal Shah |
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Designation : |
Managing Director |
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Address : |
6, 3rd Floor, Dr. Jadav Bhuvan, |
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Date of Birth/Age : |
01.04.1958 |
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Date of Appointment : |
12.11.1981 |
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Name : |
Mr. Dinesh Kumar Shah |
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Designation : |
Director |
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Address : |
102, Sudarshan apartments, Shanti Nagar Society, Ahmedabad – 380 013, |
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Date of Birth/Age : |
05.10.1963 |
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Date of Appointment : |
08.04.1994 |
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Name : |
Mr. Naresh Kumar Shah |
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Designation : |
Director |
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Address : |
3rd Floor, Dr. Jadav Bhuvan, |
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Date of Birth/Age : |
01.06.1969 |
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Date of Appointment : |
12.02.1989 |
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Name : |
Mr. Rajesh Kumar Shah |
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Designation : |
Director |
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Address : |
3rd Floor, Dr. Jadav Bhuvan, |
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Date of Birth/Age : |
01.06.1969 |
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Date of Appointment : |
12.02.1989 |
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Name : |
Mr. Vipul Shah |
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Designation : |
Director |
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Address : |
14/C, 7 Khanderao Block, Khotachi Wadi, V P road, Mumbai – 400 004, |
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Date of Birth/Age : |
17.10.1981 |
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Date of Appointment : |
17.08.2006 |
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Name : |
Mr Lalit Shah |
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Designation : |
Director |
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Address : |
14/C, 7 Khanderao Block, Khotachi Wadi, V P road, Mumbai – 400 004, |
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Date of Birth/Age : |
01.12.1973 |
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Date of Appointment : |
17.08.2006 |
KEY EXECUTIVES
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Name : |
Mr. M. P. Mehta |
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Designation : |
Company Secretary |
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Address : |
T-4, Dhaval Complex, B/h.
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Tel. No.: |
91-79-66612082 |
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Mobile No.: |
91-9824452376 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Jivraj Shah |
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17500 |
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Mr. Naresh Kumar Shah |
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12000 |
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Mr. Tilokchand Shah |
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35500 |
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Mrs. Vimlaben Shah |
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10000 |
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Mr. Lalit kumar Shah |
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16000 |
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Mrs., Badami Shah |
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10000 |
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Mrs. Sangeeta Shah |
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10000 |
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Mrs Keshiben Shah |
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16000 |
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Ambuja Intermediates |
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10000 |
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Mr. Ramanlal Shah |
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11000 |
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Mrs. Mafibnen Shah |
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11000 |
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Mr. Gambhirmal Shah |
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1500 |
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Mr. Dinesh Kumar Shah |
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2500 |
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Mr. Rajesh Kumar Shah |
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6000 |
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Mr. Jayanti Shah |
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10000 |
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Mr. Harakchand Shah |
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10000 |
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Mr. Pravin kumar Shah |
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10000 |
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Mr. Jivraj Shah (HUF) |
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10000 |
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Mr. Tilokchand Shah |
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10000 |
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Mr. Kantilal C Shah |
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10000 |
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Mr. Ramanlal Shah (HUF) |
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10000 |
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Mr. Gambhirlal Shah |
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13500 |
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Mrs. Vimlaben T Shah |
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13500 |
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Mr. Jitendra K Shah |
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29000 |
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Bodies corporate |
3.33 |
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2 |
Directors or relative of directors |
96.67 |
BUSINESS DETAILS
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Line of Business : |
Importer and Trader of
Ferrous and Non-ferrous Metals, mainly Stainless Steel |
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Imports : |
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Countries : |
Europe and |
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Terms : |
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Purchasing : |
L/C and D/A |
GENERAL INFORMATION
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Suppliers : |
v ALZ N. V. GENKZUIDZONE |
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No. of Employees : |
55 |
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Bankers : |
· Dena Bank Navrangpura
Branch, Ahmedabad – 380 009, · Dena Bank Swapnalok
Apartments, L. J. Marg, [The company was having cash credit limits for Rs. 10.000 millions, sanctioned on 02.07.1999, which was satisfied in full on 06.03.2001.] · Krung Thai Bank Public Company Limited, Mumbai Credit Limit: Rs. 37.000 millions ·
Bank of · Indus Ind Bank |
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Banking Relations
: |
Satisfactory |
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Auditors : |
S P Jain and Associates Chartered Accountants |
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Address : |
F-3, Dadar Manish Air Conditioned Market, Senapati Bapat Marg, Dadar (W), Mumbai |
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Tel. No.: |
91-22-24316201/02 |
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Associates/Subsidiaries : |
v Ambuja Intermediates Limited Registered Office : 901,
Narayan Complex, Off. Tel. No.: 91-79-2642 7576 Fax No.: 91-79-2642 6694 Year of Establishment : 1988 Activities : Manufacturer, Exporters & Importers. v Ambuja International Limited v Nevana Metal Industries, Mumbai v Rajkal Industries, Mumbai |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity shares |
Rs. 10/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity shares |
Rs. 10/- each |
Rs. 3.000
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 |
3.000 |
3.000 |
3.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.559 |
6.868 |
6.059 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.559 |
9.868 |
9.059 |
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LOAN FUNDS |
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1] Secured Loans |
20.225 |
21.486 |
22.689 |
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2] Unsecured Loans |
29.112 |
15.326 |
10.967 |
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TOTAL BORROWING |
49.337 |
36.812 |
33.656 |
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DEFERRED TAX LIABILITIES |
0.095 |
0.421 |
0.000 |
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TOTAL |
61.991 |
47.101 |
42.715 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.306 |
3.325 |
2.950 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.919 |
0.913 |
0.807 |
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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 |
8.109
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11.358 |
9.093 |
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Sundry Debtors |
55.122
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63.982 |
37.435 |
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Cash & Bank Balances |
1.906
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1.253 |
2.033 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
11.998
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1.606 |
4.766 |
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Total
Current Assets |
77.135
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78.199 |
53.327 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
15.703
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33.512 |
13.171 |
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Provisions |
3.666
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1.824 |
1.202 |
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Total
Current Liabilities |
19.369
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35.336 |
14.373 |
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Net Current Assets |
57.766
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42.863 |
38.954 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.004 |
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TOTAL |
61.991 |
47.101 |
42.715 |
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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 |
473.702 |
331.631 |
204.479 |
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Other Income |
0.981 |
1.425 |
2.753 |
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Total Income |
474.683 |
333.056 |
207.232 |
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Profit/(Loss) Before Tax |
4.951 |
2.860 |
1.676 |
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Provision for Taxation |
1.644 |
0.575 |
1.254 |
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Profit/(Loss) After Tax |
3.307 |
2.285 |
0.422 |
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Expenditures : |
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Financial Charges |
6.411 |
4.807 |
3.231 |
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Depreciation |
0.595 |
0.566 |
0.435 |
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Other Expenditure |
455.720 |
319.450 |
198.224 |
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Total Expenditure |
462.726 |
324.823 |
201.890 |
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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 |
(%) |
0.69
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0.68 |
0.20 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.04
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0.86 |
0.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.15
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3.50 |
0.02 |
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Return on Investment (ROI) (PBT/Networth) |
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0.39
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0.28 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.47
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7.31 |
5.30 |
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Current Ratio (Current Asset/Current Liability) |
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3.98
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2.21 |
3.71 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 :-
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Name of the
company |
AMBUJA METAL INDUSTRIES PRIVATE LIMITED |
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Presented
By |
AMBUJA METAL INDUSTRIES PRIVATE LIMITED |
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1) Date and
description of instrument creating the change |
Loan agreement
(Master) dated 25.05.2001 including the Memorandum of Deposit of title deeds
dated 25.05.2001 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Non Fund Based limit Letter of Credit
(Foreign / Local) D/P, D/A Rs. 30.000 millions Fund
based limit
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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 |
The industrial
Plot of land bearing No. 1063 A and situated at Behind MIDCO Containers, Near
Jain Temple, Vatva, Ahmedabad – 382 445, Gujarat India and admeasuring 9102
sq.mtrs or thereabout in area within registration district of Ahmedabad
together with buildings other structures, fixtures, fittings, fixed plant and
machinery, electrical installation etc. now constructed erected, installed
thereon, both present and future. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest at Prime Lending Rate Plus 0.50%
i.e, 13.50% on cash credit and fee / commission at KTB Mumbai Rate on Inland
L/C line and Foreign L/C line |
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5) Name and
Address and description of the person entitled to the charge. |
Krung Thai Bank PCL with its head office
at 35, Sukhumvit Road, Bangkok 101 10, Thailand and having its branch office
at 62, maker Chambers VI, 6th Floor, Nariman Point, Mumbai – 400
021, India |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.54 |
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|
1 |
Rs.80.94 |
|
Euro |
1 |
Rs.56.42 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|