MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREEOM ALLOY AND TUBES PRIVATE LIMITED |
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Registered Office : |
Plot No. 397, Industrial Area, Phase II, Chandigarh – 160 101,
Chandigarh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.09.2005 |
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Com. Reg. No.: |
28910 |
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CIN No.: [Company
Identification No.] |
U52340CH2005PTC028910 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLS16537D |
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PAN No.: [Permanent
Account No.] |
AAJCS3177Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Stainless Steel Pipes and Tubes. |
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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Maximum Credit Limit : |
USD 29000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by Average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profit margin
is under pressure. Reserve and surplus position is moderate. Payments are reported as slow. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. K D Chaudhary |
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Designation : |
Director |
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Contact No.: |
91-9814212949 |
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Date : |
26.08.2008 |
LOCATIONS
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Registered Office : |
Plot No. 397, Industrial Area, Phase II, Chandigarh – 160 101,
Chandigarh, India |
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E-Mail : |
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Website : |
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Corporate Office : |
Plot No.279, Phase II, Industrial Area, Chandigarh – 160 002,
Chandigarh, India |
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Tel. No.: |
91-172-4614397 |
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Mobile No.: |
91-9464356455 |
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Fax No.: |
91-172-4667941 |
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E-Mail : |
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Area : |
20*40 Sq. ft. |
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Location : |
Rented |
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Factory : |
Plot 88, Sector 27, 28, Essar, Haryana |
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Area : |
1180 Sq. Mt. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Lakhamanaram Choudhary |
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Designation : |
Director |
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Address : |
Achalpur, Sanchore – 343 041, Rajasthan, India |
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Date of Birth/Age : |
10.08.1978 |
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Name : |
Mr. Maheda Ram Choudhary |
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Designation : |
Director |
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Address : |
H No. 883/1, Sector 41-A, Chandigarh – 160 041, Chandigarh, India |
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Date of Birth/Age : |
15.06.1975 |
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Name : |
Mr. K D Choudhary |
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Designation : |
Director |
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Date of Birth/Age : |
32 Years |
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Qualification : |
SSC |
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Experience : |
13 Years |
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Name : |
Mr. L G Choudhary |
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Designation : |
Director |
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Date of Birth/Age : |
28 Years |
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Qualification : |
Not Qualified |
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Experience : |
8 Years |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allottees
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Names of Shareholders |
No. of Shares |
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Mangi Lal S Chandan |
150000 |
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Jignesh M Chandan |
95000 |
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K D Choudhary |
75000 |
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M D Choudhary |
75000 |
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Lakhamanram Choudhary |
20000 |
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Partapa Ram D Choudhary |
25000 |
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Nila Devi K Choudhary |
25000 |
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Ajothi Devi D Choudhary |
25000 |
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Total |
490000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of Director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Stainless Steel Pipes and Tubes. |
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Products : |
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Terms : |
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Selling : |
Credit (30 days / 60 days / 90 days) and Cash |
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Purchasing : |
Credit (30 days / 60 days / 90 days) – Advances 18 to 15 days |
GENERAL
INFORMATION
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Customers : |
End Users OEM’s |
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No. of Employees : |
41 (In Office and In Factory 34) |
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Bankers : |
Bank of India Sector 32-D, Chandigarh – 160 047, Chandigarh, India |
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Facilities : |
CC Limit RS.4.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Satija and Company Chartered Accountants |
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Address : |
SCO 842, 1st Floor, Kalka Road, Manimajra, Chandigarh – 160
101, Chandigarh, India |
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Associates/Subsidiaries : |
·
N K Steel Adress: Plot No. 418,
Chandigarh, India ·
J K Steel and Milster Address: Plot No. 908,
Chandigarh, India ·
Sri Sai Pipes Industries Address: Plot No. 417,
Chandigarh, India ·
M K Steel Address:
Motiya
Khan Delhi |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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5.000 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.708 |
0.162 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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5.708 |
0.262 |
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LOAN FUNDS |
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1] Secured Loans |
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0.349 |
0.540 |
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2] Unsecured Loans |
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2.475 |
1.441 |
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TOTAL BORROWING |
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2.824 |
1.981 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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8.532 |
2.243 |
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APPLICATION OF FUNDS |
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0.547 |
0.738 |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.030 |
0.005 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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67.781 |
4.945 |
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Sundry Debtors |
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47.950 |
16.254 |
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Cash & Bank Balances |
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0.276 |
0.206 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.917 |
0.000 |
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Total
Current Assets |
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117.924 |
21.405 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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109.587 |
19.652 |
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Provisions |
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0.396 |
0.271 |
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Total
Current Liabilities |
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109.983 |
19.923 |
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Net Current Assets |
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7.941 |
1.482 |
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MISCELLANEOUS EXPENSES |
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0.014 |
0.018 |
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TOTAL |
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8.532 |
2.243 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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19.76 |
83.60 |
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Current Ratio (Current Asset/Current Liability) |
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1.07 |
1.07 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
SHREEOM ALLOY AND TUBES PRIVATE LIMITED (CHANDIGARH) |
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Statutory Approvals |
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Income Tax Registration |
AAJCS3177Q |
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Central Sales Tax Registration |
23554 23.08.2008 |
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VAT/ TIN Registration |
04790023755 - V |
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Name of Bank |
Bank of India |
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Current Account Number |
620330110000025 |
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Account Since |
3 Years |
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Credibility Factors |
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IndiaMART Client Since |
1 Year |
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Turn Over |
Rs.250.000 millions – (2007-08) |
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Turn Over Year |
Rs.300.000 millions -
(2008-09) |
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Parameters |
Details |
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Existence Verification |
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Name |
SHREEOM ALLOY AND TUBES PRIVATE LIMITED (HARYANA) OFFICE |
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Statutory Approvals |
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VAT/ TIN Registration |
06222504762 |
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Name of Bank |
State Bank of India |
Trade References
·
Railway Chennai
·
Tamil Paper New Limited, TNPL
·
Chema Boiler, Punjab
Form No. 8
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Corporate
identity number of the company |
U52340CH2005PTC028910 |
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Name of the
company |
SHREEOM ALLOY AND TUBES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Plot No. 397, Industrial Area, Phase II, Chandigarh – 160 101,
Chandigarh, India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Book debts ·
Movable
property (not being pledge) |
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Particular of
charge holder |
Bank of India Sector 32-D, Chandigarh – 160 047, Chandigarh, India |
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Nature of
instrument creating charge |
DP Note, Consolidated
undertaking L-516, Deed of Hypothecation of Book Debts, Bearer Letter, L-515
Declaration, L-490 etc. |
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Date of
instrument Creating the charge |
12.05.2007 |
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Amount secured by
the charge |
Rs.1.500 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest 0.25% below BPLR min of 13.00% ·
Terms of
repayment As per agreement ·
Margin 40% ·
Extent and
operation of the charge 100% |
Web Details
Subject are a well-reckoned stockiest and suppliers of an exhaustive
gamut of industrial supplies such as stainless steel sheets, industrial plates,
industrial steel coils, foils and many more, that are procured from renowned
vendors such as Jindal group of companies. Additionally they are also engaged
in manufacturing stainless steel pipes and tubes that are widely appreciated
for their impeccable finish and durability. Under the profound supervision of
the manager Mr. Kevda Ram Choudhary, they have carved a niche for themselves
industrial supplies industry.
They are devoted to offer the best to their clients and hence they direct the
efforts towards the quality and continuous improvement of the industrial
supplies. With the dexterous efforts of the engineers and other team members,
they make optimum utilization of the available resources to meet buyer’s
specific requirements. After establishing in the stranglehold in the domestic
market they are now, looking expands the avenues to the export market. The inexorable
efforts in meeting the dynamic needs of the customers have made them stay with
them since the time of the establishment.
Products
Since the establishment, they have acquired a high repute in the
industrial supplies industry by offering a range of qualitative industrial
supplies that are used in diverse industries. The wide range of precision
engineered industrial supplies such as stainless steel sheets, stainless steel
bars, stainless steel flanges, stainless steel fittings, industrial steel Plates,
industrial steel coils and stainless steel accessories are procured from well
established vendors. Further, they also manufacture a gamut of stainless steel
pipes and tubes that are constructed using premium grade raw material such as
steel. The array of industrial supplies is widely appreciated for the following
salient features.
• Sturdy structure
• Durability
• Corrosion resistance
• High tensile strength
• Excellent Finish
Further, all the industrial supplies are available in standard and as well
as customized options, to meet the requirements of the clients.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.07 |
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UK Pound |
1 |
Rs.81.26 |
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Euro |
1 |
Rs.64.71 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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32 |
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 |
|
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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