MIRA
INFORM REPORT
|
Report Date : |
19.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
EMARS MINING AND CONSTRUCTION PRIVATE LIMITED |
|
|
|
|
Registered Office : |
4, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
29.12.1995 |
|
|
|
|
Com. Reg. No.: |
21-76235 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U14107WB1995PTC076235 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALE01418E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 97500 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are fair.
Business is active. Payments are usually correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
4, |
|
Tel. No.: |
91-33-22304541, 22306031 |
|
Fax No.: |
91-33-22306031 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
192 C, |
|
|
|
|
Mines Office : |
Bonalkela Basti, Joda,
District Keonjhar, Orissa – 758038, |
|
Tel. No.: |
91-6767-272698 |
DIRECTORS
|
Name : |
Mrs. Mala Roy |
|
Designation : |
Director |
|
Address : |
192 D, |
|
Date of Birth/Age : |
24.07.1952 |
|
Qualification : |
B. Sc. (Hons.) |
|
Date of Appointment : |
29.12.1995 |
|
Profile : |
Mrs. Mala Roy started her own business in textiles and
garment design Mala’s Kollection in |
|
|
|
|
Name : |
Mr. Indrajit Roy |
|
Designation : |
Director |
|
Address : |
192 D, |
|
Date of Birth/Age : |
04.11.1975 |
|
Qualification : |
B. Com (Hons) |
|
Date of Appointment : |
29.12.1995 |
|
Profile : |
Mr. Indrajit Roy joined his family concern EMARS Mining
and Construction Company in 1998 This concern is engaged in Iron ore and
Manganese mining at Keonjhar, Orissa. |
|
|
|
|
Name : |
Mr. Premjit Roy |
|
Designation : |
Director |
|
Address : |
192 D, |
|
Date of Birth/Age : |
20.10.1978 |
|
Qualification : |
B.A. in Management and Finance and B. Sc Economics (Double
Major), |
|
Date of Appointment : |
03.04.2002 |
|
Profile : |
Mr. Premjit Roy after graduation joined a 13 billion
dollar hedge fund in |
KEY EXECUTIVES
|
Name : |
Mr. Anup Kumar Gangapadhay |
|
Designation : |
Company Secretary |
|
Address : |
156/4, |
|
Tel. No.: |
91-33-24060643 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Ms. Mala Roy |
|
3935 |
|
Mr. Indrajit Roy |
|
15 |
|
Names of Shareholders |
|
Percentage of
Holding |
|
Directors and Relatives of Directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
GENERAL INFORMATION
|
No. of Employees : |
-- |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Amit Rikhab and Associates Chartered Accountants |
|
Address : |
36/12, N S Road, Rishra, Kolkata – 712 248, West |
|
|
|
|
Memberships : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
10.500 |
0.395 |
|
|
2] Reserves & Surplus |
|
13.865 |
0.000 |
|
|
NETWORTH |
|
24.365 |
0.395 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
63.239 |
1.672 |
|
|
2] Unsecured Loans |
|
3.114 |
8.422 |
|
|
TOTAL BORROWING |
|
66.353 |
10.094 |
|
|
DEFERRED TAX LIABILITIES |
|
0.618 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
91.336 |
10.489 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
47.836 |
2.391 |
|
|
Capital work-in-progress |
|
0.500 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
13.500 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
22.852 |
5.972 |
|
|
Sundry Debtors |
|
55.280 |
8.920 |
|
|
Cash & Bank Balances |
|
55.472 |
6.310 |
|
|
Loans & Advances |
|
28.394 |
9.355 |
|
Total
Current Assets |
|
161.998 |
30.557 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
125.204 |
24.714 |
|
|
Provisions |
|
7.294 |
0.387 |
|
Total
Current Liabilities |
|
132.498 |
25.101 |
|
|
Net Current Assets |
|
29.500 |
5.456 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
2.642 |
|
|
|
|
|
|
|
|
TOTAL |
|
91.336 |
10.489 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
275.256 |
2.653 |
|
Other Income |
|
2.187 |
7.749 |
|
Total Income |
|
277.443 |
10.402 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
24.463 |
1.180 |
|
Provision for Taxation |
|
7.956 |
0.399 |
|
Profit/(Loss) After Tax |
|
16.507 |
0.781 |
|
|
|
|
|
|
Total Expenditure |
|
265.567 |
14.876 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
5.95 |
7.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
5.95 |
7.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
10.92 |
3.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
1.00 |
2.98 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
9.18 |
90.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.22 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
|
Name of the company |
EMARS MINING AND
CONSTRUCTION PRIVATE LIMITED |
|
Presented By |
Mr. Premjit Roy, Director |
|
1) Date and description of instrument creating the change |
Deed of hypothecation dated 16.01.2006 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 23.400 millions |
|
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 |
First charge by way of hypothecation on : No. BL Pegson Crusher Model 900X 600 Metrotrack and 1 No. 1000SR bearing SI No. 100256CKSRV 960228CK |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Term Loan Agreement of Rs. 23.400 millions (Aprox) for 30 months, 27 EMI’s payable to the owner as per the Term Loan facility sanction letter dated 25.07.2005 |
|
5) Name and Address and description of the person entitled to the charge. |
L and T Finance Limited, 3 B, Shakespeare Sarani, Kolkata – 700 071, West |
|
6) Date and brief description of instrument modifying the charge |
N A |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N A |
As Per Web:
Profile:
Emars Mining and Construction Private Limited is recognised by
the government of
Roy Global Trading Private Limited is also recognised by the
government of
We have taken the opportunity to export Iron Ore Fines from our mines to
Their future focus with respect to
They hope the Iron Ore Trade continues to grow at a steady pace and they can
achieve goals pertaining to Iron Ore Exports and most importantly satisfy our customers’
need.
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.39.87 |
|
|
1 |
Rs.80.11 |
|
Euro |
1 |
Rs.56.19 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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. |
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 |
|