MIRA
INFORM REPORT
|
Report Date : |
11.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ROLLWELL FORGE LIMITED |
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Registered Office : |
Survey No. 239/1, Behind G.E. B. Substation, Shapar-360024, District
Rajkot, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
25.01.1991 |
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Com. Reg. No.: |
04-14964 |
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CIN No.: [Company
Identification No.] |
U27100GJ1991PLC014964 |
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IEC No.: |
2403002194 |
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PAN No.: [Permanent
Account No.] |
AABCR0080P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter of Forged / Engineering Components (Rough /
Machined) Flanges, Pipe Fittings, Fastners in Ferrous and Non Ferrous Metals. |
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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Status : |
Good |
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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. Directors are reported as experienced, respectable and having
satisfactory means of their own. Trade relations are fair. Business is
active. Payments are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ashok Mehta |
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Designation : |
General Manager |
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Contact No.: |
91-9227706407 |
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Date : |
08.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
Survey No. 239/1, Behind G.E. B. Substation, Shapar-360024, District
Rajkot, Gujarat, India |
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Tel. No.: |
91-2827-253671/ 3090368 |
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Fax No.: |
91-2827-253571 |
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E-Mail : |
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Website : |
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Area : |
11000 sq.ft. (Owned) |
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Corporate Office : |
Shree Gurukrupa Towers, 5th Floor, Moti Tanki Chowk,
Rajkot-360002, Gujarat, India |
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Tel. No.: |
91-281-6644660 |
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Fax No.: |
91-281-6644661 |
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Mobile No.: |
91-9227706407 |
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E-Mail : |
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Website : |
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Area : |
3500 sq.ft (Rented) |
DIRECTORS
|
Name : |
Mr. Babulal R Mehta |
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Designation : |
Director |
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Address : |
Manmandir Apartment, Rajkot-360001, Gujarat, India |
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Date of Birth/Age : |
49 Years |
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Qualification : |
Matriculate |
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Experience : |
25 Years |
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Date of Appointment : |
27.06.2003 |
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Name : |
Mr. Naresh R Mehta |
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Designation : |
Director |
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Address : |
Manmandir Apartment, Rajkot-360001, Gujarat, India |
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Date of Birth/Age : |
36 Years |
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Qualification : |
Matriculate |
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Experience : |
15 Years |
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Date of Appointment : |
27.06.2005 |
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Name : |
Mr. Arvind D Bothra |
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Designation : |
Director |
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Address : |
Manmandir Apartment, Rajkot-360001, Gujarat, India |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Matriculate |
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Experience : |
20 Years |
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Date of Appointment : |
01.09.2005 |
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Name : |
Mr. Omprakash S Kanungo |
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Designation : |
Director |
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Address : |
Khetwadi Lane, Mumbai, Maharashtra, India |
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Date of Birth/Age : |
41 Years |
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Qualification : |
C.A |
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Experience : |
17 Years |
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Date of Appointment : |
11.09.2003 |
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Name : |
Mr. Sheth Rasiklal Sanjivbhai |
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Designation : |
Director |
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Address : |
306, Mangal Kunj, Walkeshwar Mount, Pleasant Road, Mumbai-400006,
Maharashtra, India |
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Date of Appointment : |
25.03.1998 |
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Date of Ceasing: |
30.06.2003 |
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Name : |
Mr. T N Balsubramanium |
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Designation : |
Director |
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Address : |
Flat No. 106, Shilpa Plot No.l 40, Goradiya Nagar, Ghatkopar (west),
Mumbai-400006, Maharashtra, India |
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Date of Appointment : |
25.03.1998 |
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Date of Ceasing: |
30.06.2003 |
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Name : |
Mr. Shetty S. K. Sadanan |
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Designation : |
Director |
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Address : |
Ramya 3C/31, Drug, Employees C. H.S, J. K. Gram, Thane (West),
Maharashtra, India |
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Date of Appointment : |
10.10.2002 |
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Date of Ceasing: |
30.03.2003 |
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Name : |
Mr. Bhupendra Ramal Mehta |
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Designation : |
Director |
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Address : |
44, Mammdhan Building, Saashiv Cross Lane, Room No. 40, Mumbai-400004,
Maharashtra, India |
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Date of Appointment : |
27.06.2003 |
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Date of Ceasing |
01.09.2005 |
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Name : |
Mr. Prakash R Mehta |
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Designation : |
Director |
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Address : |
5A, Sindhi Lane, Vora Building, 2nd Floor, Mumbai-400004,
Maharashtra, India |
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Date of Appointment : |
27.06.2003 |
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Date of Ceasing: |
15.12.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Mehta |
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Designation : |
General Manager |
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Mobile No.: |
91-9227706407 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
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No. of Shares |
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Babulal R Mehta |
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25000 |
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Prakash R Mehta |
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30000 |
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Naresh R Mehta |
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27000 |
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Niru N Mehta |
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20000 |
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Rushab B Mehta |
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20000 |
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Chandrika Mehta |
|
20800 |
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Badmikumari Mehta |
|
26400 |
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Pavanben M Mehta |
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10000 |
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Ajit M Mehta |
|
8800 |
|
Kanugo Ferrmet |
|
89700 |
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Stainless Steel India Limited |
|
98300 |
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Total |
|
376000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter of Forged / Engineering Components (Rough /
Machined) Flanges, Pipe Fittings, Fastners in Ferrous and Non Ferrous Metals. |
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Products : |
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Exports : |
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Products : |
Forgings and Forged Flanges |
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Countries : |
USA |
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Imports : |
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Products : |
Forgings and Forged Flanges |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Credit (60-90 Days) and Others |
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Purchasing : |
L/C, Cash and Credit ( 60-90 Days) |
PRODUCTION STATUS
|
Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Forgings and Forged Flanges |
MT |
|
10000 |
4000 |
GENERAL
INFORMATION
|
Suppliers : |
Shanxi Yuxin
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Customers : |
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No. of Employees : |
180 (Factory 170, Office 10) |
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Bankers : |
Corporation Bank, SSI Branch, J. P. Tower, Tagore Marg, Rajkot,
Gujarat, India |
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Facilities : |
Credit Limit Rs. 146.400 Millions (Rs.
In Millions)
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bhavin Associates Chartered Accountant |
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Address : |
Everest Building, 7th Floor, Opposite Shastri Maidan,
Rajkot, Gujarat, India |
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Tel. No.: |
91-79-2220123/ 2223153/ 5523153 |
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Mobile No.: |
91-79-2220123/ 2294317 |
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Residential No.: |
91-79-2573757 |
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Fax No.: |
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Sister Concerns : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
996000 |
Equity Shares |
Rs. 10/-
each |
Rs. 9.960
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.960 |
9.960 |
3.760 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
23.316 |
21.695 |
13.111 |
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4] (Accumulated Losses) |
[0.005] |
[0.005] |
0.000 |
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NETWORTH |
33.271 |
31.650 |
16.871 |
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LOAN FUNDS |
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1] Secured Loans |
74.165 |
65.000 |
39.402 |
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2] Unsecured Loans |
42.266 |
52.400 |
39.273 |
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TOTAL BORROWING |
116.431 |
117.400 |
78.675 |
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DEFERRED TAX LIABILITIES |
0.000 |
4.588 |
3.927 |
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TOTAL |
149.702 |
153.638 |
99.473 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
55.650 |
43.616 |
30.940 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
16.643 |
3.884 |
1.969 |
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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 |
85.818
|
94.804 |
80.075 |
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Sundry Debtors |
34.587
|
70.328 |
38.448 |
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Cash & Bank Balances |
5.401
|
1.588 |
0.165 |
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Other Current Assets |
13.735
|
24.842 |
0.000 |
|
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Loans & Advances |
1.589
|
5.046 |
22.890 |
|
Total
Current Assets |
141.130
|
196.608 |
141.578 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Current Liabilities |
45.501
|
90.471 |
77.405 |
|
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Provisions |
18.220
|
0.000 |
1.616 |
|
Total
Current Liabilities |
63.721
|
90.471 |
79.021 |
|
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Net Current Assets |
77.409
|
106.138 |
62.557 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.007 |
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TOTAL |
149.702 |
153.638 |
95.473 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
395.300 |
331.342 |
193.608 |
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Other Income |
2.266 |
4.726 |
0.970 |
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Total Income |
397.566 |
336.068 |
194.578 |
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|
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Profit/(Loss) Before Tax |
21.052 |
13.117 |
8.331 |
|
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Provision for Taxation |
0.000 |
4.533 |
2.971 |
|
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Profit/(Loss) After Tax |
21.052 |
8.584 |
5.360 |
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Earnings in Foreign Currency : |
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Export Earnings |
302.446 |
265.278 |
156.358 |
|
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Commission Earnings |
0.000 |
0.000 |
0.000 |
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Other Earnings |
92.854 |
70.790 |
6.874 |
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Total Earnings |
395.300 |
336.068 |
163.232 |
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Expenditures : |
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Cost of Goods Sold |
288.485 |
0.000 |
0.000 |
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Manufacturing Expenses |
58.955 |
52.177 |
0.000 |
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Administrative Expenses |
16.576 |
15.416 |
0.000 |
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Purchases made for re-sale |
0.000 |
0.000 |
164.056 |
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Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
[21.458] |
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Salaries, Wages, Bonus, etc. |
0.000 |
0.000 |
5.523 |
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Managerial Remuneration |
0.000 |
0.000 |
1.105 |
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Interest |
9.677 |
11.002 |
5.335 |
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Insurance Expenses |
0.000 |
0.000 |
0.232 |
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Power & Fuel |
0.000 |
0.000 |
2.868 |
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Depreciation & Amortization |
2.820 |
2.061 |
1.316 |
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Other Expenditure |
0.000 |
242.295 |
27.270 |
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Total Expenditure |
376.513 |
322.951 |
186.247 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
5.29
|
2.55 |
2.75 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.33
|
3.96 |
4.30 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.69
|
5.46 |
4.83 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.63
|
0.41 |
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.41
|
6.57 |
9.35 |
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Current Ratio (Current Asset/Current Liability) |
|
2.21
|
2.17 |
1.79 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
- Shreeji Stells
Address : Survey No. 243,
Plot No. 1-2, Opposite Sadguru Chemical, Sardar Cement Road, Shapar
Tel No.: 91-2827-254100
Mobile No.: 91-9824873800
Contact Person : Mr. Husain
- Laxcon Steels
Limited
Address: Plot No. 235, Sarkhej Bavla Road, NH-8A,
Village : Sari, Taluka Sanand, Dishtrict Ahmedabad, Gujarat, India
Tel No. : 91-79-27478474
Mobile No.: 91-9327142402
Contact Person : Mr. Rajan
- Vasa Steels
Address: Rajkot-Gondal Highway, Near Shapar Village,
Near Jain Manufacturers, Shapar, District Rajkot, Gujarat, India
Tel No.: 91-281-252126/25
Contact Person : Mr. Ketan Vasa
- Phoenix
Special Steels
Address: Survey No. 38/1, Plot No. 12 and 13, Near
Hotel Krishna Park, N.H. 8B, Gondal Road, Vavdi District, Rajkot, Gujarat,
India
Tel No. : 91-281-3043263
Contact Person: Mr. Manoj Gandhi
BACKGROUND INFORMATION:
|
Registrations/ Affiliations (Any change in
promoter’s registration / affiliations) |
ISO 9001, AIFI, Rajkot Engineering
Association, EEPC, |
|
Any Awards won |
None |
|
Any Change in Registered Office |
None |
BUSINESS ACTIVITIES:
|
Details of Fixed Assets |
|
|
Land and Buildings |
Rs. 17.187 Millions |
|
Plant and Machinery |
Rs. 40.270 Millions |
|
Furniture and Fixture |
Rs. 0.721 Million |
|
Other Assets |
Rs. 9.399 Millions |
|
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|
Premises |
|
|
Owned |
Factory Premises : Owned |
|
Leased (if so, monthly rent to be stated) |
Rajkot office Premises : Lease Rent of Rs.
0.050 Million |
INSURANCE DETAILS:
|
Unit’s Assets Covered |
Policy No./ Cover Note |
Validity |
Sum Assured |
Risk Covered |
|
Building |
0635002524 |
12.01.2009 |
Rs. 28.000 Millions |
Fire/ Earth Quake |
|
Contents (Stock, Machinery etc.) |
0635002524 |
12.01.2009 |
Rs. 115.000 Millions |
Comprehensive coverage |
|
Marine Cargo Open Policy |
0830003402 |
03.02.2009 |
Rs. 172.000 Millions |
All risks war and strikes |
FOR MANUFACTURING ENTITIES / FACTORY SITE (S):
|
Location of Plot, accessibility, proximity
to other units |
Factory unit in Industrial Area where
semi-skilled and labourers are available |
|
Principle raw material(s) and sources |
Ahmedabad |
|
Pollution control : Any pollutants being
generated and their disposal |
None |
|
Power: Connected load and back up availability |
400 Kva Backup availability : None |
|
Storage / Security / Perishability/
Susceptibility to fire and weather |
Storage : In open and Warehouse Security : Available 24x7 Perishable : Non-perishable Susceptibility to Fire : No Susceptibility to Weather : Partially Rustin, if exposed to Moisture |
|
Quality Certification |
ISO 9001:2000 |
|
Workers/ Split of temporary and permanent/
any unions |
Workers : 170 Temporary: 39 Permanent: 131 Union : None |
|
History of any Strikes/ any child labour/
working conditions |
None |
OTHER PARTICULARS:
|
Months (during
the current year) |
Purchases |
Sales |
|
April 2008 |
Rs. 18.164 Millions |
Rs. 18.967 Millions |
|
May 2008 |
Rs. 18.382 Millions |
Rs. 19.596 Millions |
|
June 2008 |
Rs. 26.284 Millions |
Rs. 28.837 Millions |
SWOT ANALYSIS OF THE UNIT
|
Strengths |
Availability of Regular supply Orders |
|
Weakness |
Non-availability of adequate number of
semi-skilled workers |
|
Opportunities |
The demand for company’s products is
expected to remain upbeat for medium term period i.e. minimum 5 years |
|
Threats |
1) Non-availability of Raw-materials on time 2) Very high volatility of price of raw materials and Foreign currency
Exchange Rats. |
OPERATING STATEMENT
(Rs In Millions)
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Projected |
|||||
|
1. Gross Sales |
|
|
|
|
|
|
|
(i) Domestic Sales |
105.000 |
113.800 |
122.500 |
131.300 |
140.000 |
148.800 |
|
(ii) Export Sales |
645.000 |
698.800 |
752.500 |
806.300 |
860.000 |
913.800 |
|
Total |
750.000 |
812.600 |
875.000 |
937.600 |
1000.000 |
1062.600 |
|
Other Operative Income |
39.900 |
42.600 |
45.300 |
48.000 |
50.800 |
53.500 |
|
2. Less excise duty |
|
|
|
|
|
|
|
3. Net Sales ( 1-2) |
789.900 |
855.200 |
920.300 |
985.600 |
1050.800 |
1116.100 |
|
(%)age rise (+) or fall (-) is net sales as
compared to previous year. |
33.63% |
8.27% |
7.61% |
7.10% |
6.62% |
6.21% |
|
4. Cost of Sales |
|
|
|
|
|
|
|
[1] Raw Material (including stores and other
items used in the process of manufacture) |
|
|
|
|
|
|
|
a) Imported |
|
|
|
|
|
|
|
b) Indigenous |
569.400 |
616.900 |
664.300 |
711.800 |
759.200 |
806.700 |
|
(ii) Other Spares |
|
|
|
|
|
|
|
a) Imported |
|
|
|
|
|
|
|
b) Indigenous |
3.300 |
3.600 |
3.900 |
4.20 |
4.500 |
4.800 |
|
(iii) Power and fuel |
27.800 |
30.100 |
32.400 |
34.700 |
37.100 |
39.400 |
|
(iv) Direct Labour (Factory wages and Salaries) |
43.900 |
48.300 |
53.100 |
58.400 |
64.200 |
70.600 |
|
(v) Other Manufacturing expenses |
42.700 |
46.200 |
49.700 |
53.200 |
56.700 |
60.200 |
|
(vi) Depreciation |
10.700 |
10.700 |
10.700 |
10.700 |
10.700 |
0.000 |
|
(vii) Sub- Total (I to vi) |
697.800 |
755.800 |
814.100 |
873.000 |
932.400 |
981.700 |
|
(viii) Add : Opening stocks in-process |
25.000 |
31.828 |
34.474 |
37.133 |
39.819 |
42.529 |
|
Sub-total |
722.800 |
787.628 |
848.574 |
910.133 |
972.219 |
1024.229 |
|
(ix) Deduct- Closing stock-in-process |
31.828 |
34.474 |
37.133 |
39.819 |
42.529 |
44.777 |
|
(x) Cost of Production |
690.972 |
753.154 |
811.441 |
870.313 |
929.691 |
979.451 |
|
(xi) Add : Opening stock of finished goods |
24.500 |
30.823 |
33.774 |
36.412 |
39.062 |
41.735 |
|
Sub Total |
715.472 |
783.978 |
845.215 |
906.726 |
968.753 |
1021.186 |
|
(xii) Deduct closing stock of finished goods |
30.823 |
33.774 |
36.412 |
39.062 |
41.735 |
43.993 |
|
(xiii) Sub – Total (Total Cost of sales) |
684.649 |
750.203 |
808.803 |
867.664 |
927.018 |
977.192 |
|
Selling, General and |
20.900 |
23.000 |
25.300 |
27.800 |
30.600 |
33.700 |
|
6. Sub total (5+6) |
705.549 |
773.203 |
834.103 |
895.464 |
957.618 |
1010.892 |
|
8. Operating Profit before interest ( 3-7) |
84.351 |
81.997 |
86.197 |
90.136 |
93.182 |
105.208 |
|
9. Interest |
26.152 |
24.616 |
22.982 |
21.348 |
19.713 |
18.475 |
|
10. Operating profit after interest (8-9) |
58.199 |
57.380 |
63.215 |
68.789 |
73.468 |
86.733 |
|
11. (Add other non-operating income) |
|
|
|
|
|
|
|
a) Interest Income |
|
|
|
|
|
|
|
b) Other Miscellaneous |
|
|
|
|
|
|
|
Sub-total (income) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deduct other non-operating Expenses |
|
|
|
|
|
|
|
a) P and P Written Off |
0.002 |
0.001 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b) Donation |
|
|
|
|
|
|
|
b) partners Salary / Interest |
|
|
|
|
|
|
|
Sub-Total (expenses) |
0.002 |
0.001 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net of other non-operating income/ expenses (net of II and II (ii) |
[0.002] |
[0.001] |
0.000 |
0.000 |
0.000 |
0.000 |
|
12. Profit before tax/loss 10+11 (iii) |
58.197 |
57.379 |
63.215 |
68.789 |
73.468 |
86.733 |
|
13. Provision for taxes |
16.996 |
17.337 |
19.852 |
22.223 |
24.244 |
25.509 |
|
14. Net Profit / Loss (12-13) |
41.201 |
40.043 |
43.364 |
46.566 |
49.225 |
61.224 |
|
15. a) Dividend Paid |
|
|
|
|
|
|
|
b) Dividend tax |
|
|
|
|
|
|
|
16. Retained Profit (14-15) |
41.201 |
40.043 |
43.364 |
46.566 |
49.225 |
61.224 |
|
17. Gained Profit / Net Profit (%age) |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
ANALYSIS
OF BALANCE SHEET
(Rs. In Millions)
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Projected |
|||||
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
01 Short – Term borrowings from banks |
|
|
|
|
|
|
|
i) From applicant bank |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
|
ii) From other bank |
|
|
|
|
|
|
|
iii) (of which BP and BD) |
|
|
|
|
|
|
|
Sub Total [A] |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
|
|
|
|
|
|
|
|
|
02 Short Term Borrowings from others |
|
|
|
|
|
|
|
03 Sundry creditors [Trade] |
131.279 |
142.231 |
153.159 |
164.111 |
175.039 |
185.991 |
|
04 Advance payments from customers / Deposits from
dealers |
|
|
|
|
|
|
|
05 Provision for tax [net of Tax paid] |
|
|
|
|
|
|
|
06 Dividend and Dividend Tax payable |
|
|
|
|
|
|
|
07 other statutory liabilities [due within one year] |
2.673 |
2.894 |
3.114 |
3.335 |
3.555 |
3.776 |
|
08 Deposits / Installments of term loans / DPGs /
debentures, etc [due within one year] |
13.620 |
13.620 |
13.620 |
13.620 |
3.565 |
0.000 |
|
09 Other current liabilities and provisions [due within
one year] |
18.549 |
20.096 |
21.640 |
23.188 |
24.732 |
26.279 |
|
|
|
|
|
|
|
|
|
Sub – Total [B] |
166.121 |
178.841 |
191.534 |
204.253 |
206.892 |
216.046 |
|
10 TERM LIABILITIES [Total of 1 to 9] |
256.121 |
268.841 |
281.534 |
294.253 |
296.892 |
306.046 |
|
11 Debentures [not maturing within one year] |
|
|
|
|
|
|
|
12 Preference Shares [Redeemable after 1 year] |
|
|
|
|
|
|
|
13 Term loans [excluding installments payable within
one year] |
44.425 |
30.805 |
17.185 |
3.565 |
0.000 |
0.000 |
|
14 Deferred Sales Tax / Deferred Loan Deferred Payment
Credit [Excluding installments due within one year] |
4.588 |
4.588 |
4.588 |
4.588 |
4.588 |
4.588 |
|
15 Term deposit [repayable after one year] |
82.400 |
82.400 |
82.400 |
82.400 |
82.400 |
82.400 |
|
16 other Term Liabilities |
|
|
|
|
|
|
|
17 TOTAL TERM LIABILITIES [Total of 11 to 16] |
131.413 |
117.793 |
104.173 |
90.553 |
86.988 |
86.988 |
|
18 TOTAL OUTSIDE LIABILITIES [10 + 17] |
387.534 |
386.633 |
385.706 |
384.806 |
383.879 |
393.034 |
|
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
19 Partner’s Capital Account |
9.960 |
9.960 |
9.960 |
9.960 |
9.960 |
9.960 |
|
20 General Reserve |
21.695 |
32.089 |
73.290 |
113.333 |
156.696 |
203.263 |
|
21 Revaluation Reserve |
|
|
|
|
|
|
|
22 Other Reserves [Excluding provisions] |
|
|
|
|
|
|
|
23 Surplus [+] or deficit [-] in Profit and Loss Account |
51.595 |
81.243 |
83.406 |
89.930 |
95.791 |
110.449 |
|
|
|
|
|
|
|
|
|
Less : Drawings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24 NET WORTH [19+23] |
|
|
|
|
|
|
|
25 TOTAL LIABILITIES [18+24] |
470.784 |
509.926 |
552.363 |
598.029 |
646.327 |
716.706 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26 Cash and Bank Balance |
31.596 |
54.483 |
81.020 |
110.690 |
142.984 |
187.496 |
|
27 Investments [Other than long term investments]
Government and other Trustee securities |
|
|
|
|
|
|
|
I] Fixed deposit with bank |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28 I] Receivables other than deferred and exports
[Including bills purchased and discounted by banks] |
46.351 |
50.045 |
53.808 |
57.603 |
61.382 |
65.177 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
80.600 |
87.400 |
94.100 |
100.800 |
107.500 |
114.200 |
|
29 Instalments of Deferred receivables [due within
one year] |
|
|
|
|
|
|
|
30 Inventory |
164.672 |
178.780 |
192.571 |
206.419 |
220.295 |
233.314 |
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
|
|
|
|
|
|
|
Imported |
|
|
|
|
|
|
|
Indigenous |
101.889 |
110.388 |
118.870 |
127.370 |
135.851 |
144.351 |
|
II] Stock – in – process |
31.828 |
34.474 |
37.133 |
39.819 |
42.529 |
44.777 |
|
II] Finished Goods |
30.823 |
33.774 |
36.412 |
39.062 |
41.735 |
43.993 |
|
IV] Other consumable spares |
|
|
|
|
|
|
|
Imported |
|
|
|
|
|
|
|
Indigenous |
0.132 |
0.144 |
0.156 |
0.168 |
0.180 |
0.192 |
|
31 Advances recordable in Cash or kind |
|
|
|
|
|
|
|
32 Advance payment of taxes [NET] |
|
|
|
|
|
|
|
33 Excise and Sales Tax Refund |
28.464 |
30.817 |
33.163 |
35.516 |
37.865 |
40.218 |
|
Other current assets |
|
|
|
|
|
|
|
34 TOTAL CURRENT ASSETS [Total of 26 to 33] |
351.682 |
401.525 |
454.662 |
511.028 |
570.026 |
640.405 |
|
FIXED ASSETS |
|
|
|
|
|
|
|
35 Gross Block |
145.741 |
145.741 |
145.741 |
145.741 |
145.741 |
145.741 |
|
36. Depreciation to date |
30.524 |
41.224 |
51.924 |
62.624 |
73.324 |
73.324 |
|
|
|
|
|
|
|
|
|
37 NET BLOCK [35-36] |
115.217 |
104.517 |
93.817 |
83.117 |
72.417 |
72.417 |
|
|
|
|
|
|
|
|
|
OTHER NON – CURRENT ASSETS |
|
|
|
|
|
|
|
38 Investments / book / debts / advances / deposits which
are not Current Assts |
|
|
|
|
|
|
|
I] [a] Others Investments in Subsidiary |
|
|
|
|
|
|
|
[b] Others companies / affiliates |
3.884 |
3.884 |
3.884 |
3.884 |
3.884 |
3.884 |
|
II] Advances to suppliers of capital goods and contractors
|
|
|
|
|
|
|
|
III} Deferred receivables [maturity exceeding one year] |
|
|
|
|
|
|
|
IV] Others |
|
|
|
|
|
|
|
39 Non consumables Stores and Spares |
|
|
|
|
|
|
|
40 Other non – current assets including dues from
directors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41 TOTAL OTHER NON – CURRENT ASSETS [total of 38 to 40] |
3.884 |
3.884 |
3.884 |
3.884 |
3.884 |
3.884 |
|
42 Intangible assets [Patents, goodwill, prelim, expenses,
bad / doubtful debts Not provided for etc.] |
0.001 |
0.001 |
0.001 |
0.001 |
0.001 |
0.001 |
|
|
|
|
|
|
|
|
|
43 TOTAL ASSETS [Total of 34, 37, 41 and 42] |
470.784 |
509.926 |
552.363 |
598.029 |
646.327 |
716.706 |
|
44 TANGIBLE NET WORTH [24-22] |
83.249 |
123.293 |
166.656 |
213.223 |
262.448 |
323.672 |
|
45 NET WORKING CAPITAL |
95.561 |
132.684 |
173.128 |
216.774 |
273.134 |
334.358 |
|
[17 + 24]-[37+41+42] |
|
|
|
|
|
|
|
to tally with [34-10] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46 Current Ratio [Items 34/10] |
0.137 |
0.149 |
0.161 |
0.174 |
0.192 |
0.209 |
|
47 Total Outside Liabilities/ Tangible Net
Worth |
0.466 |
0.314 |
0.231 |
0.180 |
0.146 |
0.121 |
CURRENT
ASSETS AND CURRENT LIABILITIES
(Rs. In Millions)
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Projected |
|||||
|
A Current Assets |
|
|
|
|
|
|
|
1. Raw Materials (including stores and other
items used the process of manufacture) |
|
|
|
|
|
|
|
a) Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Month’s consumption [ ] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
b) Indigenous |
101.889 |
110.388 |
118.870 |
127.370 |
135.851 |
144.351 |
|
Month’s Consumption [ ] |
0.215 |
0.215 |
0.215 |
0.215 |
0.215 |
0.215 |
|
2. Other consumable spares, excel those in
(1) |
|
|
|
|
|
|
|
(a) Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Month’s consumption [ ] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(b) Indigenous |
0.132 |
0.144 |
0.156 |
0.168 |
0.180 |
0.192 |
|
Month’s Consumption [ ] |
0.048 |
0.048 |
0.048 |
0.048 |
0.048 |
0.048 |
|
3 Stock –in-process: |
31.828 |
34.474 |
37.133 |
39.819 |
42.529 |
44.777 |
|
Month’s cost of production [ ] |
0.055 |
0.055 |
0.055 |
0.055 |
0.055 |
0.055 |
|
4 Finished goods |
30.823 |
33.774 |
36.412 |
39.062 |
41.735 |
43.993 |
|
Month’s cost of sales [ ] |
0.054 |
0.054 |
0.064 |
0.054 |
0.054 |
0.054 |
|
5 Receivables other than export and deferred
receivables (including bills purchased and discounted by bank |
46.351 |
50.045 |
53.808 |
57.603 |
61.382 |
65.177 |
|
Month’s domestic sales excluding deferred
payment sales. [ ] |
0.530 |
0.528 |
0.527 |
0.526 |
0.526 |
0.526 |
|
6 Export receivables ( inclbill spurch and disc) |
80.600 |
87.400 |
94.100 |
100.800 |
107.500 |
114.200 |
|
months export sales: [ ] |
0.150 |
0.150 |
0.150 |
0.150 |
0.150 |
0.150 |
|
7 Advances to suppliers of raw materials and
stores/ spares, consumables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
8 Other current assets inclusive cash and
bank balances and deferred receivables due within one year (specify major
items) |
60.060 |
85.300 |
114.182 |
146.206 |
180.850 |
227.714 |
|
9 TOTAL CURRENT ASSETS (To agree with 34 in form III) |
351.682 |
401.525 |
454.662 |
511.028 |
570.026 |
640.405 |
|
B Current Liabilities (Other than bank for working capital) |
|
|
|
|
|
|
|
10 Creditors for purchase of raw materials
stores and: |
131.279 |
142.231 |
153.159 |
164.111 |
175.039 |
185.991 |
|
consumable spares Month’s Purchases [ ] |
0.277 |
0.277 |
0.277 |
0.277 |
0.277 |
0.277 |
|
11 Advances from customers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
12 Statutory Liabilities |
2.673 |
2.894 |
3.114 |
3.335 |
3.555 |
3.776 |
|
13 Other current liabilities (specify major
items) Short Term borrowings, unsecured loans dividend payable instlments of
TL, DPG, Public deposits, debentures etc. |
32.169 |
33.716 |
35.260 |
36.808 |
28.297 |
26.279 |
|
14 TOTAL (To agree with sub total B Form III) |
166.121 |
178.841 |
191.534 |
204.253 |
206.892 |
216.046 |
COMPUTATION
OF MAXIMUM PERMISSIBLE BANK FINANCE WORKING CAPITAL
(Rs. In Millions)
|
Particulars |
31.03.2009 |
31.03.2010 |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Projected |
|||||
|
1 Total Current Assets (9 in form IV) |
351.682 |
401.525 |
454.662 |
511.028 |
570.026 |
640.405 |
|
2 Other Current Liabilities Other than bank
borrowing 14 of form IV) |
166.121 |
178.841 |
191.534 |
204.253 |
206.892 |
216.046 |
|
3 Working Capital GAP (WCG) (1-2) |
185.561 |
222.684 |
263.128 |
306.774 |
363.134 |
424.358 |
|
4 Minimum Stipulated net working Capital
i.e. 25% Of WCG 25% of Total current assets as the upon the method of lending
being applied (Export receivables to be excluded under both method) |
67.800 |
78.500 |
90.100 |
102.600 |
115.600 |
131.600 |
|
5 Actual / projected net working capital (45
in Form III) |
95.561 |
132.684 |
173.128 |
216.774 |
273.134 |
334.358 |
|
6 Item 3 minus item 4 |
117.761 |
144.184 |
173.028 |
204.174 |
247.534 |
292.758 |
|
7 Item 3 minus item 5 |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
|
8 Maximum Permissible bank finance (item 6
or 7 whichever is (lower) |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
90.000 |
|
9 Excess borrowing representing short fall
in NWC (4-5) |
|
|
|
|
|
|
MR. NARESH RAJMAL MEHTA (HUF)
STATEMENT OF CAPITAL ACCOUNT
FOR THE YEAR 31.03.2006
(Rs. In Millions)
|
Particulars |
Amount |
Particulars |
Amount |
|
To Drawings |
0.013 |
By Interest B/d |
0.141 |
|
To TDS |
0.001 |
By Interest From |
|
|
To Bank Charges |
0.001 |
M/s Tradewell |
0.013 |
|
To Legal Fees |
0.002 |
Bank |
0.000 |
|
To Balance C/d |
0.237 |
By Miscellaneous Receipts |
0.099 |
|
|
0.253 |
|
0.253 |
BALANCE SHEET
AS ON 31.03.2006
(Rs. In Millions)
|
Liabilities |
Amount |
Assets |
Amount |
|
Capital |
|
M/s Tradewell |
0.150 |
|
Mr. Naresh R Mehta (HUF) |
0.237 |
Sundry Loans |
0.060 |
|
|
|
Share Investments |
0.009 |
|
|
|
Cash and Bank Balance |
|
|
|
|
Vijaya Bank |
0.012 |
|
|
|
Cash in Hand |
0.006 |
|
|
0.237 |
|
0.237 |
COMPUTATION OF TOTAL INCOME
FOR THE ASSESMENT YEAR 2006-2007
(Rs. In Millions)
|
Particulars |
Amount |
Amount |
|
Interest From |
|
|
|
M/s Tradewell |
0.013 |
|
|
Bank |
0.001 |
|
|
Miscellaneous Receipts |
0.099 |
0.112 |
|
Total Income |
|
0.112 |
|
R/OFF |
|
0.112 |
|
Tax Thereon |
|
0.001 |
|
Add : E.C. @2% |
|
0.000 |
|
|
|
0.001 |
|
Less: TDS |
|
0.001 |
|
Refund due |
|
0.000 |
Mr. BABULAL RAJMAL MEHTA
STATEMENT OF CAPTIAL
ACCOUNT
FOR THE YEAR ENDED
31.03.2006
(Rs. In Millions)
|
Particulars |
Amount |
Particulars |
Amount |
|
To Drawings |
0.152 |
By Balance B/d |
0.627 |
|
To TDS (A. Y. 2006-07) |
0.050 |
By Salary From |
|
|
To Tax on Employment |
0.000 |
M/s Rollwell Forge Limited |
0.455 |
|
To Bank Charges |
0.000 |
By Interest from |
|
|
To Housing Loan Interest |
0.045 |
Bank |
0.002 |
|
To Housing Maintenance |
0.005 |
M/s Banas Steel Centre |
0.006 |
|
To Housing Loan Processing charges |
0.004 |
Mahalaxmi Metal Corporation |
0.023 |
|
To LIC |
0.100 |
By Miscellaneous Receipts |
0.021 |
|
To Balance C/d |
0.821 |
By Income Tax Refund |
0.007 |
|
|
|
By LIC Refund |
0.040 |
|
|
1.180 |
|
1.180 |
BALANCE SHEET
AS ON 31.03.2006
(Rs. In Millions)
|
Liabilities |
Amount |
Assets |
Amount |
|
Capital |
|
|
|
|
Mr. Babulal R Mehta |
0.821 |
Rollwell Forge Limited (Salary) |
0.040 |
|
S. Loan |
|
Rushabh Babulal Mehta |
0.419 |
|
City Bank Loan |
0.093 |
House at Rajkot |
0.825 |
|
ICICI Home Loan |
0.737 |
Manmandir Mainten. Deposit |
0.050 |
|
Pavanben M Mehta |
0.250 |
New Cool Well International |
0.015 |
|
|
|
Share Investment |
0.181 |
|
|
|
Provident Fund |
0.012 |
|
|
|
BOND |
0.030 |
|
|
|
ICICI BOND |
0.030 |
|
|
|
Babulal R Mehta (HUF) |
0.200 |
|
|
|
Cash and bank balance |
|
|
|
|
Vijaya Bank |
0.011 |
|
|
|
Corporation Bank |
0.013 |
|
|
|
HDFC Bank |
0.002 |
|
|
|
Cash in Hand |
0.075 |
|
|
1.902 |
|
1.902 |
COMPUTATION OF TOTAL
INCOME
FOR THE ASSESMENT
YEAR 2006-2007
(Rs. In Millions)
|
Particulars |
Amount |
Amount |
|
INCOME FROM
SALARY |
|
|
|
Salary From M/s Rollwell Forge Limited |
0.455 |
|
|
Less: Profession Tax |
0.001 |
0.454 |
|
INCOME FROM HOUSE PROPERTY |
|
|
|
Rental Income |
0.000 |
|
|
Less: Interest paid on Housing Loan |
0.045 |
[0.045] |
|
INCOME FROM
OTHER SOURCES |
|
|
|
Interest from |
|
|
|
Bank |
0.002 |
|
|
M/s Banas Steel Centre |
0.006 |
|
|
Mahalaxmi Metal Corporation |
0023 |
0.025 |
|
GROSS TOTAL INCOME |
|
0.434 |
|
Less : Deduction U/s. 80C |
|
0.100 |
|
TOTAL INCOME |
|
0.334 |
|
R/OFF |
|
0.334 |
|
TAX THEREON |
|
0.050 |
|
Add : E.C. @2% |
|
0.001 |
|
|
|
0.051 |
|
Less: TDS |
|
0.050 |
|
S.A. PAYABLE |
|
0.001 |
Bankers Charges Report as per Registry
|
Name of the company
|
ROLLWELL FORGE
LIMITED |
|
Presented By |
Mr. Babulala R Mehta, Managing Director |
|
1) Date and description of instrument creating the change |
10.05.2004 Memorandum
of Deposit of Title Dees |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 31.000
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 |
Land Admeasuring
2 Acre ad 31 Guntha. Revenue Survey No. 239/1 of Village : Shapar, Taluka
Kotdasangani, Distirct Rajkot, with
construction thereon of Workshop die shed, Forge shed, 2 labour quarters,
cutting shed, Machine shop and finishing shed ad toiled block |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Charge to cover
credit facilities 1. Packing Credit
Rs. 15.000 Millions 2. FDBN / D/ P
Rs. 15.000 Millions 3. Bank Guarantee
Rs. 1.000 Million |
|
5) Name and Address and description of the person entitled to the charge. |
Corporation Bank,
Tagore Marg, Rajkot |
|
6) Date and brief description of instrument modifying the charge |
Continuation
Letter of Memorandum of Deposit of Title Deed Dated 26.09.2005 |
|
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. |
The Original
charge created on 10.05.2004 for Rs. 31.000 Millions now extended up to Rs.
61.000 Millions to cover the enhanced limits. |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
80043790 |
|
Corporate
identity number of the company |
U27100GJ1991PLC014964 |
|
Name of the
company |
ROLLWELL FORGE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Plot No. 1, Survey No. 239/1, Shapar Veraval- 360002, Gujarat, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Corporation Bank,
SSI Branch, J P Tower, Tagore Road, Rajkot-360002, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Comon Deed of Hypothecation of Movables / Assets / Debts |
|
Date of
instrument Creating the charge |
08.12.2007 |
|
Amount secured by
the charge |
Rs. 143.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanctioned
letter, subject to change from time to time. Terms of
Repayment Cash credit shall
be repayable on Demand and Term Loan shall be repayable as per details
provided in sanctioned letter. Margin As per sanctioned
letter. Extent and
Operation of the charge The charge shall
remain in operation till full repayment of all outstanding dues to the Bank
with interest and other charges of if any. |
|
Short particulars
of the property charged |
Hypothecation of
stock in trade consisting Raw Material, Work in process and Finished Goods,
hypothecation of movable fixed assets and receivables of the company, both
present and future. |
|
Date of latest
modification prior to the present modification |
21.09.2005 |
|
Particulars of
the present modification |
Total Financial facilities
of Rs. 61.000 Millions already grated to the Company and Registered with ROC
now increased to Rs. 143.500 Millions as per annexure attached, on the
securities of Hypothecation o stock in trade consisting Raw Material, Work in
process and Finished Goods, hypothecation of moavable fixed assets and
receivables of the Company, both present and future. |
AS PER WEBSITE
Profile:
Subject is an ISO Certified
Forging Houses in India catering pre-dominantly to overseas market. Subject as popularly known has a big
list of satisfied clienteles hailing from all parts of globe. The fact that
highly technologically advanced countries are their buyers’ list itself speaks
about acceptability of the products price wise and quality wise. Subject is now
positioned on an accelerated growth with co-operation of their valued
clienteles. Subject is being equipped with advanced technology which in turn
would enable us to serve the customers better.
Subject is closely held limited company with major share holding of the Kanungo
group and the Mehta group. Mr. Om Prakash Kanungo, a qualified Chartered
Accountant, is the Chairman of the company. He is very well established and
reputed wholesale trader of Ferro Metals for last thirty years. Mr. Babulal
Mehta, The Managing Director of the company is very experienced industrialist
who is in engineering business for last twenty five years. The above promoters
are ably assisted by a team of professionals having expertise in manufacturing,
sourcing, developing and marketing of quality goods and services.
Subject’s Objectives and Mission:
Subject has the aspiration of becoming best exporter of quality forging
/ casting / engineering components with its imbibed attitude of pursuing
EXCELLENCE.
It is confident of achieving this covetous status owing to its expertise
in workmanship, awareness in international standards / benchmark and product
requirements of buyers.
Subject mission is to put India on world map as the best sourcing centre
for quality forging products.
Procurement of Raw
Material:
Subject Continuously develops new Vendors for their requirements of
varied metals apart from their having tied-up with several manufactures/
associates for facilities of the supply of raw materials to suit requirement of
their customers.
Quality
Commitment:
Subject is very quality conscious and every one associated with the
company from Chairman to Helper, Chant the quality mantra all the time. All
materials are procured with manufacturers test certificate and are meticulously
tested at factory to confirm chemical and metallurgical properties including
hardness.
Drop hammer and press forged shops are with necessary quality control
equipments before releasing forging they are well aware of the use of the
components by the clients and are very critical of their operational
performance.
Therefore they observe strict quality control measures at every level of
production. They have a documentation system to record the history of each
product, right from details of raw material along with test certificates till
dispatches of finished products.
They have fully equipped chemical / metallurgical testing laboratory for
carrying out the quantity analysis of common elements such as carbon, silicon,
manganese etc. They are also very well equipped to carry out physical test such
as impact test, crack detection test etc.
Subject has quality assurance department through which they take care of the
quality requirements of their esteemed customers who repose full trust and
faith on us. they have already implemented a quality management system in
accordance with ISO 9001-2000 as per certification body of TUV America, Inc.,
They are in the process of achieving TQM very shortly.
Global Opportunities:
There exists unlimited global opportunities to get export orders from
highly developed countries mainly owing to cost factors. The cost of
manufacturer in India is much lower compared to highly developed countries.
India has large chunk of highly qualified and experienced technical personnel
supported by skilled labour force. This aspect contributes towards quality of
its products. Therefore, developed countries are looking towards India for the
quality products at very competitive prices. Subject wants to make use of this
opportunity to grow and establish its hold in the international market.
Team of
Professionals:
It has full fledged team of professionals in the area of sourcing,
developing and marketing of quality goods and services.
Philosophy:
Uphold the importance of Quality and Service when serving the customer.
Secret of success:
The success on the export front can be attributed to the sincerity and
loyalty of the employees which include professionals and other staff at all levels
who are ever ready to face and accept any challenge to provide Quality Products
and Services to the customers. These employees always strive hard to achieve
and maintain International Standards of Quality with respect to the products
and services.
Subject at a
glance:
Subject offers the advantages that you always wanted but rarely ever
had.
- Made from
quality Pretested material
- Assured
metallurgical properties and chemical composition.
- Close
dimensional accuracy.
- Consistent
quality guarantee for endurance.
- Prompt and
courteous after sales services.
Over the years, subject has established good rapport and gained
confidence of its customers from different segment of industries. Subject fells
that its strength is its customers. It is proud of its association with them.
Products:
Subject is the prominent manufacturer in the fields of Forging, Heat
Treatment, Machining, Tolling And Testing.
They also deal with flexible trade practices, such as manufacturing
according to customer's Samples, Drawings, Designs or Brands, Processing with
supplied material as well as compensatory trade and technical cooperation. They
are willing to cooperate friendly with old and new friends and eagerly waiting
to serve you.
Material
Construction:
- Stainless Steel A182F304
- 304L
- 316
- 316L
- 321
- 310 Carbon Steel A105
- ASTM A36
- ASTM 515 and 516
- Alloy Steel A182
- F1
- F5
- F9
- F11
- F22
- F91
- F51
Dimension Standard:
- ANSI B16.5 and B 16.47 Series A and B
- ASA 150.300,600,900, 1500, 2500 Class
- DIN 2527, 2576,2633, 2634, 2635, 2642 and BS 4504
- PN 6
- PN 10
- PN 16
- PN 25
- PN 40
- MSS 44
- API 605
- AWWA 207
- JIS
- ASME
- UNI
Flanges:
- Slip On
- Weld Neck
- Blind
- Long Weld Neck
- Thread
- Socked Weld
- Lap Joint
- Companion
- Studding Outlet
Automobile Parts
- Gear
- Crack Shaft
- Cross
- Shifter Fork
- Clutch Collar
High Pressure Forged
Pipe-Fittings
- Elbow
- Tee
- Coupling
- Plug
- Cross
- Nipple
- Weldolet
- Socket
- Theredolet
- Swage Nipple
- Valve Body
- Bonnet
- Bend
- Reducer
- Cap
- Stub End
Transmission Parts
- Anchore Shackle
- Clevis Eye
- Arching Horn
- Balll Clevis
- Ball Link
- Chain Link
- Clevis Bolt
- Deaden Pin
- Eye Bolt
- Socket Clevis
- Horn Holder
Laboratory Activities
and Equipments:
- Spectameter and Mobile Arm
- Alloy Sorter
- Compression testing machine
- Impact Testing Machine
- Hardness Testing Machine
- Preparation Machine
- Magnetic Particle Inspection Machine
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.42.20 |
|
UK Pound |
1 |
Rs.81.48 |
|
Euro |
1 |
Rs.64.27 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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 |
|