MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SURAJ METASTEEL LIMITED |
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Registered Office : |
Suraj House, Vidya Nagar Society, Opp. Usmanpura, Garden, Ashram Road,
Usmanpura, Ahmedabad, 380014, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
18.05.2007 |
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Com. Reg. No.: |
050869 |
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CIN No.: [Company
Identification No.] |
U27100GJ2007PLC050869 |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
Trader, Exporter and Importer of Stainless Steel, Coil Sheets and
Plates. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a New Company and a part of Suraj Group, a medium sized group.
The Management parted some general information, but declined to part with
financials, Trade relations are reported as fair. Payments are reported as
usually Correct and as per Commitments. The Company can be considered for small to mediocre business dealings
with slight caution, initially. |
INFORMATION PARTED
BY
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Name : |
Mr. G N Shenoy |
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Designation : |
Export, Import Executive |
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Contact No.: |
91-9819816001 |
LOCATIONS
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Registered Office : |
Suraj House, Vidya Nagar Society, Opp. Usmanpura, Garden, Ashram Road,
Usmanpura, Ahmedabad, 380014, Gujarat, India. |
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Corporate Office : |
Kanji Mansion, Block No.3, 1ST Floor, 311/317, S.V.P. Road,
Mumbai, 400004, Maharashtra, India |
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Tel. No.: |
91-22-23891649, 23891758 |
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Mobile No.: |
91-9819816001 |
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Fax No.: |
91-22-23854979 |
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E-Mail : |
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Website : |
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Area : |
1600 Sq.ft. |
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Location : |
Owned |
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DIRECTORS
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Name : |
Mr. Ashok T. Shah |
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Designation : |
Director |
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Address : |
51, Shanti Nagar, 5th Floor, Samata Apartment, Usmanpura,
Ahmedabad, 380013, Gujarat, India. |
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Date of Birth/Age : |
29/05/1966 |
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Qualification : |
B.com |
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Other Directorship : |
Suraj Impex Private Limited U5110GJ1998PTC034353 Suraj Limited U28992GJ2005PLC045949 Suraj Enterprise Limited U27100GJ2005PTC046501 Suraj Stainless Limited L27100GJ1994PLC021088 |
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Name : |
Mr. Gunvant T. Shah |
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Designation : |
Director |
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Address : |
Flat No. 7, 3rd Floor, 14, Pannalal Terrace, 7th
Khetwadi, Mumbai, 400004, Maharashtra, India. |
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Date of Birth/Age : |
25/03/1971 |
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Qualification : |
B.Sc |
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Other Directorship : |
Suraj Impex Private Limited U5110GJ1998PTC034353 Suraj Limited U28992GJ2005PLC045949 Suraj Enterprise Limited U27100GJ2005PTC046501 Suraj Stainless Limited L27100GJ1994PLC021088 |
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Name : |
Mr. Kunal T. Shah |
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Designation : |
Director |
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Address : |
18/B, Laxminarayan Society, Shanti Nagar, Usmanpura, Ahmedabad,
380013, Gujarat, India. |
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Date of Birth/Age : |
24/08/1973 |
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Qualification : |
B.Sc |
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Other Directorship : |
Suraj Impex Private Limited U5110GJ1998PTC034353 Suraj Limited U28992GJ2005PLC045949 Suraj Enterprise Limited U27100GJ2005PTC046501 Suraj Stainless Limited L27100GJ1994PLC021088 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 04.05.2007
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Names of Shareholders |
No. of Shares |
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Mr. Ashok Shah |
5000 |
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Mr. Gunvant Shah |
5000 |
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Mr. Kunal Shah |
5000 |
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Anitaben Shah |
10600 |
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Rekhaben Shah |
6200 |
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Chandrikaben Shah |
8200 |
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Mr. Ashok Shah |
10000 |
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Total |
50000 |
BUSINESS DETAILS
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Line of Business : |
Trader, Exporter and Importer of Stainless Steel, Coil Sheets and
Plates. |
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Products : |
v Stainless Steel v Coil Sheets v Plates |
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Exports : |
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Countries : |
v USA v European
Countries v Gulf Countries |
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Imports : |
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Products : |
v Stainless Steel v Coil Sheets v Plates |
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Countries : |
v Brazil v Belgium v Germany v Italy v Singapore |
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Terms : |
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Selling : |
L/C, Advance |
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Purchasing : |
Cash / Credit (30 – 60 days) |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v End Users |
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No. of Employees : |
15 Employees |
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Bankers : |
Punjab National Bank, Opera House, Mumbai and Ahmedabad |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nanavati and Company, Chartered Accountants |
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Address : |
Mumbai, Maharashtra, India. |
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Associates : |
Suraj Impex Private Limited U5110GJ1998PTC034353 Suraj Limited U28992GJ2005PLC045949 Suraj Enterprise Limited U27100GJ2005PTC046501 Suraj Stainless Limited Ahmedabad, Gujarat, India. L27100GJ1994PLC021088 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,00,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.500
million |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Ultra Dry Tech Engineering Limited, Mumbai
v Reliance Industry, Mumbai
v Jord Engineering Limited, Ankleshwar, Gujarat
v R M International, USA
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 exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.95 |
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UK Pound |
1 |
Rs. 78.91 |
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Euro |
1 |
Rs. 63.24 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
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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