MIRA
INFORM REPORT
|
Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
SHIVAM STEEL AND TUBES PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
10.09.1998 |
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Com. Reg. No.: |
11-116496 |
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CIN No.: [Company
Identification No.] |
U27104MH1998PTC116496 |
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IEC No.: |
0399065041 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS24378E |
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PAN No.: [Permanent
Account No.] |
AADCS9345L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Steel Tubes and Steel Furniture |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 experiences, respectable and
having satisfactory means. Trade relations are fair. Business is active. No
complaints have been heard. It would be advisable to take adequate securities while dealing with
the subject. |
INFORMATION PARTED BY
|
Name : |
Mr. Yashpal Mehra |
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Designation : |
Director |
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Contact No.: |
91-9820295975 |
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Date : |
22.12.2008 |
LOCATIONS
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Registered Office : |
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Mobile No.: |
91-9820126723/ 9820295975 |
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E-Mail : |
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Website : |
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Corporate Office : |
264, 2nd Floor, A to Z Industrial Estate, G K Marg, Lower
Parel (West), Mumbai – 400013, Maharashtra, India |
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Tel. No.: |
91-22-56661464/ 65/ 56669260 |
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Fax No.: |
91-22-66669260/ 56661464 |
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E-Mail : |
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Area : |
865 sq. ft. |
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Location : |
Rented |
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Factory : |
Plot No.1, Survey No.79, Hissan No 5/1, |
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Tel. No.: |
91-952527-240211 |
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E-Mail : |
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Area : |
15 Acres |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Rajendra Rajkumar Mehra |
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Designation : |
Director |
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Address : |
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Date of Appointment : |
10.09.1998 |
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Name : |
Mr. Yashpal Rajkumar Mehra |
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Designation : |
Director |
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Address : |
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Date of Appointment : |
10.09.1998 |
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Name : |
Mrs. Poonam Rajkumar Mehra |
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Designation : |
Director |
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Address : |
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Date of Appointment : |
10.09.1998 |
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Name : |
Mrs. Minnie Yaspal Mehra |
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Designation : |
Director |
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Address : |
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Date of Appointment : |
10.09.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 29.09.2007)
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Names of Shareholders |
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No. of Shares |
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Rajendra Rajkumar Mehra |
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100100 |
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Yaspal Rajkumar Mehra |
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100100 |
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Poonam Rajkumar Mehra |
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10000 |
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Minnie Yaspal Mehra |
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10000 |
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Total |
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220200 |
(As on 30.09.2007)
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Category |
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Percentage
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Steel Tubes and Steel Furniture |
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Products : |
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Brand Name : |
“SHIVAM” |
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Exports : |
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Products : |
ERW M.S. Tubes |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Actual
Production |
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ERW M.S. Tubes |
M/T |
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|
8390.842 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
53 (Office – 7 and Factory 46) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
S C Bhandari and Company Chartered Accountant |
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Address : |
70, Ratnajyot Industrial Premises Co-operative Society, Irla Lane, Vile
Parle (West), Mumbai – 400056, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
220200 |
Equity Shares |
Rs.10/- each |
Rs.2.202 Millions |
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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 |
2.202 |
2.202 |
2.202 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
44.258 |
25.645 |
14.110 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
46.460 |
27.847 |
16.312 |
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LOAN FUNDS |
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1] Secured Loans |
30.093 |
50.519 |
32.880 |
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2] Unsecured Loans |
61.690 |
56.173 |
27.813 |
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TOTAL BORROWING |
91.783 |
106.692 |
60.693 |
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DEFERRED TAX LIABILITIES |
3.848 |
3.765 |
3.087 |
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TOTAL |
142.091 |
138.304 |
80.092 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
90.351 |
72.571 |
65.071 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.254 |
0.256 |
0.010 |
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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 |
0.000
|
40.447 |
26.753 |
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Sundry Debtors |
0.000
|
64.992 |
0.000 |
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Cash & Bank Balances |
0.000
|
21.597 |
3.616 |
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Other Current Assets |
185.666
|
0.000 |
64.844 |
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Loans & Advances |
18.837
|
14.378 |
9.870 |
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Total
Current Assets |
204.503
|
141.414 |
105.083 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
153.020
|
69.848 |
87.580 |
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Provisions |
0.000
|
6.094 |
2.500 |
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Total
Current Liabilities |
153.020
|
75.942 |
90.080 |
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Net Current Assets |
51.483
|
65.472 |
15.003 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.005 |
0.008 |
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TOTAL |
142.091 |
138.304 |
80.092 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
317.023 |
258.372 |
236.474 |
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Other Income |
4.642 |
3.170 |
1.490 |
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Total Income |
321.665 |
261.542 |
237.964 |
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Profit/(Loss) Before Tax |
24.742 |
15.612 |
12.888 |
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Provision for Taxation |
6.128 |
4.077 |
3.612 |
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Profit/(Loss) After Tax |
18.614 |
11.535 |
9.276 |
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Export Value |
NA |
NA |
31.207 |
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Expenditures : |
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Cost of Goods Consumed |
264.041 |
215.051 |
202.807 |
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Administrative Expenses |
6.972 |
6.930 |
7.132 |
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Selling and Distribution Expenses |
9.075 |
9.414 |
8.071 |
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Interest |
16.835 |
14.535 |
7.066 |
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Total Expenditure |
296.923 |
245.930 |
225.076 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
5.79
|
4.41 |
3.90 |
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Net Profit Margin (PBT/Sales) |
(%) |
7.80
|
6.04 |
5.45 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.39
|
7.30 |
7.57 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.56 |
0.79 |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.27
|
6.58 |
9.24 |
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Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.86 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
COMPUTATION OF TOTAL INCOME
(RS IN MILLIONS)
|
INCOME FROM BUSINESS AND PROFESSION |
|
|
2007-08 |
|
|
|
|
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|
Net Profit As per Profit and Loss A/C |
|
24.742 |
|
|
Add: Items Considered Sperately |
|
|
|
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Donation |
0.027 |
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|
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Depreciation |
8.166 |
|
|
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Preliminary Expenses |
0.003 |
8.195 |
|
|
|
|
32.937 |
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Less: Allowances |
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Preliminary Expenses |
0.003 |
|
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Depreciation |
8.418 |
8.421 |
24.517 |
|
Gross Total Income
|
|
|
24.517 |
|
|
|
|
|
|
Less: Deduction u/s 80IB (3) ii @ 30% |
|
7.355 |
|
|
80G 27300 100@ |
|
0.027 |
7.382 |
|
Total Income |
|
|
17.135 |
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CONPUTATION OF TAX LIABILITY |
|||
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Total Income |
|
|
17.135 |
|
Rate of Tax |
|
Special |
|
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Income Chargeable |
17.135 |
- |
|
|
Income Tax |
5.140 |
- |
5.140 |
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|
|
|
|
|
MAT u/s 115JA |
|
|
|
|
Profit as per accounts |
|
24.742 |
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|
10% of profits |
|
|
2.474 |
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|
|
|
|
|
Income Tax |
|
|
5.140 |
|
Add: Surcharge @ 10% |
|
|
0.514 |
|
Surcharge and
Tax Payable |
|
|
5.654 |
|
Add: Education Cess @ 3% |
|
|
0.170 |
|
Surcharge, Cess and Tax Liability |
|
|
5.824 |
|
Less: Tax Dducted at Source |
|
|
0.411 |
|
Net Tax Payable |
|
|
5.413 |
|
Less: Advance Tax |
|
|
1.000 |
|
|
|
|
4.413 |
|
Add: Interests |
|
|
|
|
234 C |
|
|
0.230 |
|
234 B |
|
|
0.265 |
|
Tax Payable |
|
|
4.908 |
OPERATING STATEMENT
(RS IN MILLIONS)
|
PARTICULARS |
2009 (Estimates) (12 Months) |
2010 (Projected) (12 Months) |
|
|
|
|
|
Gross
Sales |
|
|
|
Sales – Export |
17.297 |
21.621 |
|
Sales – Domestic |
363.131 |
435.757 |
|
|
|
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Sub Total (Gross Sales) |
380.428 |
457.378 |
|
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Less Excise Duty |
- |
- |
|
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Net
Sales |
380.428 |
457.378 |
|
|
|
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% rise [+] or fall [-] in net sales as compared to
previous year |
20.00% |
20.23% |
|
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Cost
of Sales |
|
|
|
Raw Materials Consumed
(Including stores and other items used in the process of manufacture) |
305.127 |
368.948 |
|
[a] Imported |
55.913 |
69.891 |
|
[b] Indigenous |
249.215 |
299.058 |
|
|
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|
Other Spares Consumed |
|
|
|
[a] Imported |
- |
- |
|
[b] Indigenous |
- |
- |
|
|
|
|
|
Power and Fuel |
5.000 |
5.200 |
|
Direct Labour [Factory Wages and Salaries] |
5.100 |
5.500 |
|
Other Manufacturing Expenses |
2.880 |
2.990 |
|
Depreciation |
6.900 |
7.200 |
|
Sub
Total |
325.007 |
389.838 |
|
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|
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Add : Opening Stocks-in-process |
325.007 |
389.838 |
|
Deduct: Closing Stocks-in-process |
- |
- |
|
|
|
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|
Cost of Productions |
325.007 |
389.838 |
ANALYSIS OF
BALANCE SHEET
[RS IN MILLIONS]
|
PARTICULARS |
2009 (Estimates) (12 Months) |
2010 (Projected) (12 Months) |
|
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|
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CURRENT
LIABILITIES |
|
|
|
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
– From Applicant Bank |
49.800 |
49.800 |
|
– From Other Bank |
0.800 |
0.800 |
|
Sub
Total |
50.600 |
50.600 |
|
|
|
|
|
Short Term Borrowings from others |
- |
- |
|
|
|
|
|
Sundry Creditors (Trade) |
25.000 |
26.000 |
|
|
|
|
|
Advance payments from customers / Deposits from
dealers |
0.250 |
0.250 |
|
|
|
|
|
Provisions for taxation |
15.338 |
24.650 |
|
|
|
|
|
Dividend payable |
- |
- |
|
|
|
|
|
Others Statutory Liabilities [due within one year] |
- |
- |
|
|
|
|
|
Installments of Term Loans/ Deferred Payment Creditors/
Debentures/ Deposits/ Redeemable Preference Shares [due within one year] |
- |
- |
|
|
|
|
|
Other current liabilities and provisions [due within one
year] |
80.000 |
70.000 |
|
Others |
80.000 |
70.000 |
|
|
|
|
|
Sub
Total |
120.588 |
120.900 |
|
|
|
|
|
Total
Current Liabilities |
171.188 |
171.500 |
|
|
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
Debentures |
- |
- |
|
Preference Shares Capital |
- |
- |
|
|
|
|
|
Term loans [excluding installments payable within
one year] |
17.500 |
15.000 |
|
Deferred Payment Credit [Excluding installments due within
one year] |
- |
- |
|
Term deposit [repayable after one year] |
- |
- |
|
|
|
|
|
Unsecured Loans (Quasi Equity) |
|
|
|
|
|
|
|
Other Term Liabilities |
3.800 |
3.800 |
|
Total
Term Liabilities |
21.300 |
18.800 |
|
|
|
|
|
Total
Outside Liabilities |
192.488 |
190.300 |
|
|
|
|
|
NET
WORTH |
|
|
|
|
|
|
|
Ordinary Share Capital |
2.202 |
2.202 |
|
General Reserve |
- |
- |
|
Revaluation Reserve |
- |
- |
|
Unsecured Loans |
62.500 |
62.500 |
|
Surplus (+) or Deficit (-) in profit and loss a/c |
65.720 |
87.448 |
|
|
|
|
|
Others |
- |
- |
|
Share Premium |
- |
- |
|
Preference Shares redeemable after 1 year |
- |
- |
|
|
|
|
|
New
Worth |
130.422 |
152.150 |
|
|
|
|
|
Total
Liabilities |
322.910 |
342.450 |
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS: |
|
|
|
|
|
|
|
Cash and Bank Balance |
1.258 |
1.500 |
|
|
|
|
|
Investments (Other
than long term) |
|
|
|
Government and other Trustee
securities |
- |
- |
|
Fixed deposit with bank |
25.000 |
28.000 |
|
|
|
|
|
Receivables other than deferred and exports [Including
bills purchased and discounted by banks] |
85.550 |
90.600 |
|
Export receivables [Including bills purchased / discounted
by banks] |
- |
- |
|
Installments of Deferred receivables [due within one
year] |
- |
- |
|
|
|
|
|
INVENTORY
|
90.450 |
94.500 |
|
Raw materials [Including stores and other items used in
the process of manufacture] |
|
|
|
Imported |
- |
- |
|
Indigenous |
60.150 |
62.500 |
|
Stock – in – process |
- |
- |
|
Finished Goods |
30.300 |
32.000 |
|
Other consumable spares - |
|
|
|
Imported |
- |
- |
|
Indigenous |
- |
- |
|
|
|
|
|
Advances to suppliers of raw materials and stores/ spares |
- |
- |
|
Advance payment of taxes |
19.958 |
31.958 |
|
|
|
|
|
Other Current Assets |
15.461 |
19.688 |
|
Interested Receivable |
- |
- |
|
Balance with custom and Excise |
11.461 |
13.688 |
|
Loans and advances |
- |
- |
|
Others |
4.000 |
6.000 |
|
|
|
|
|
Total
Current Assets |
237.677 |
266.246 |
|
|
|
|
|
FIXED
ASSETS: |
|
|
|
|
|
|
|
Gross Block (land, building, machinery, work-in-progress) |
115.552 |
103.013 |
|
Depreciation to date |
31.199 |
27.814 |
|
Net
Block |
84.353 |
75.199 |
|
|
|
|
|
|
|
|
|
Other
Non Current Assets |
|
|
|
Investments / Book Debts / Advances / Deposits which are
not Current Assets |
0.878 |
1.003 |
|
Investments in Subsidiary
Companies/ Affiliates |
- |
- |
|
Others |
0.254 |
0.254 |
|
|
|
|
|
Advances to suppliers of capital goods and contractors |
- |
- |
|
Deferred receivables [maturity exceeding one year] |
- |
- |
|
Others |
0.624 |
0.749 |
|
Security Deposits |
- |
- |
|
Loans to Subsidiaries |
- |
- |
|
Receivables over 6 months |
- |
- |
|
Advances recoverable in cash |
0.624 |
0.749 |
|
|
|
|
|
Non consumables Stores and Spares |
- |
- |
|
Other Non – Current Assets (including dues from directors) |
- |
- |
|
|
|
|
|
Total
Non- Current Assets |
0.878 |
1.003 |
|
|
|
|
|
Intangible Assets: [Patents, goodwill, prelim, expenses, bad / doubtful debts
Not provided for etc.] |
0.002 |
0.002 |
|
|
|
|
|
Total
Assets |
322.910 |
342.450 |
|
|
|
|
|
Tangible
Networth |
130.420 |
152.148 |
|
|
|
|
|
Net Working
Capital |
66.489 |
94.746 |
|
|
|
|
|
Current Ratio |
0.139 |
0.155 |
|
|
|
|
|
Total Outside
Liabilities/ Tangible Net Worth |
0.148 |
0.125 |
|
|
|
|
|
Total Term
Liability/ Tangible Net Worth |
0.016 |
0.012 |
COMPARATIVE
STATEMENT OF CURRENT ASSETS AND CURRENT LIABILITIES
[RS IN MILLIONS]
|
Particulars |
2009 (Estimates) |
2010 (Projected) |
|
CURRENT
ASSETS |
|
|
|
Raw materials [Including stores and other items used in
the process of manufacture] |
|
|
|
Imported (Months Consumption) |
- |
- |
|
Indigenous (Months Consumption) |
60.150 (0.290) |
62.500 (0.251) |
|
|
|
|
|
Other consumable spares, Excluding those included in 1
above |
|
|
|
Imported (Months Consumption) |
- |
- |
|
Indigenous (Months Consumption) |
- |
- |
|
|
|
|
|
Stock – in – process (Months cost of Production) |
- |
- |
|
|
|
|
|
Finished Goods (Months cost of Sales) |
30.300 (0.115) |
32.000 (0.099) |
|
|
|
|
|
Receivable other than export and deferred receivable
(Including bills purchased and discounted by bankers) (Months domestic Sales: Excluding deferred payment sales) |
85.550 (0.283) |
90.600 (0.249) |
|
|
|
|
|
Export receivable (Including bills purchased and
discounted) (Months Export Sales) |
- |
- |
|
|
|
|
|
Advances to suppliers of Raw Materials and Stores/ Spares,
Consumable ) |
- |
- |
|
|
|
|
|
Other current assets (Including Cash and Bank Balance and
Deferred Receivables due within one year) (Earnest Deposit) |
61.677 |
81.146 |
|
|
|
|
|
Cash and Bank Balances Investment (Other than long term) |
1.258 |
1.500 |
|
Government and other trustee
securities |
- |
- |
|
Fixed Deposits with banks |
25.00 |
28.00 |
|
|
|
|
|
Installment of deferred receivables |
|
|
|
Advance payment of taxes |
19.958 |
31.958 |
|
Other current assets |
15.461 |
19.688 |
|
|
|
|
|
Total
Current Assets |
237.677 |
266.246 |
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
(Other than Bank Borrowings for Working Capital) |
|
|
|
|
|
|
|
Creditors for purchases of raw materials, Stores and
Consumable Spares (Month’s Purchases) |
25.000 (0.098) |
26.00 (0.084) |
|
|
|
|
|
Advances from Customers |
0.250 |
0.250 |
|
|
|
|
|
Statutory Liability |
- |
- |
|
|
|
|
|
Other Current Liabilities |
95.338 |
94.650 |
|
Short Term Borrowings from others |
|
|
|
- Provision for
taxation |
15.338 |
24.650 |
|
- Dividend Payable |
|
|
|
|
|
|
|
Deposits/ Installment of term loans/ DPGs/ Debentures etc.
|
- |
- |
|
|
|
|
|
Other Current liabilities and provisions |
80.000 |
70.000 |
|
|
|
|
|
Total |
120.588 |
120.900 |
FUND FLOW
STATEMENT
[RS IN MILLIONS]
|
Particulars |
2009 (Estimates) |
2010 (Projected) |
|
SOURCES |
|
|
|
|
|
|
|
Net Profit |
21.464 |
21.728 |
|
Depreciation |
(1.100) |
(3.386) |
|
Increase in Capital |
|
|
|
|
|
|
|
Increase in Term Liabilities (Including Public Deposits) |
- |
- |
|
|
|
|
|
Decrease in |
|
|
|
Fixed Assets |
7.099 |
12.539 |
|
Others non current assets |
- |
- |
|
|
|
|
|
Others |
0.810 |
- |
|
|
|
|
|
TOTAL
|
28.273 |
30.881 |
|
|
|
|
|
USES
|
|
|
|
Net Loss |
- |
- |
|
Decrease in Term Liabilities [Including Public Deposits] |
3.043 |
2.500 |
|
|
|
|
|
Increase in |
|
|
|
Fixed Assets |
- |
- |
|
Other Non Current Assets |
0.302 |
0.125 |
|
|
|
|
|
Dividend Payment |
- |
- |
|
Others |
- |
- |
|
|
|
|
|
TOTAL
|
3.345 |
2.625 |
|
|
|
|
|
Long – Term Surplus [+] / Deficit [-] |
24.928 |
28.256 |
|
|
|
|
|
Increase / Decrease in Current Assets [As per details
given below] |
33.497 |
28.569 |
|
|
|
|
|
Increase / Decrease in Current Liabilities other than bank
borrowings. |
(32.432) |
0.312 |
|
|
|
|
|
Increase / Decrease in Working Capital Gap |
65.929 |
28.257 |
|
|
|
|
|
Net Surplus [+] / Deficit [-] |
(41.001) |
(0.001) |
|
|
|
|
|
Increase / Decrease in Bank Borrowings |
41.001 |
- |
|
|
|
|
|
INCREASE / DECREASE IN NET SALES |
63.405 |
76.950 |
|
|
|
|
|
BREAK
UP OF [4] |
|
|
|
|
|
|
|
Increase / Decrease in raw Materials |
1.921 |
2.350 |
|
|
|
|
|
Increase / Decrease stock – in – process |
- |
- |
|
|
|
|
|
Increase / Decrease in Finished goods |
8.597 |
1.700 |
|
|
|
|
|
Increase / Decrease in Receivables |
|
|
|
[a] Domestic |
3.524 |
5.050 |
|
[b] Exports |
- |
- |
|
|
|
|
|
[v] Increase / Decrease in Store and Spares |
- |
- |
|
|
|
|
|
[vi] Increase / Decrease in other Current Assets |
19.455 |
19.469 |
|
|
|
|
|
Total |
33.497 |
28.569 |
KAY FINANCIAL
INDICATORS
(RS IN
MILLIONS)
|
Year
Ended/ Ending March 31 |
2009 (Estimates) |
2010 (Projected) |
|
|
|
|
|
Total Operating Income (TOI) |
380.430 |
457.380 |
|
EBIDTA |
51.920 |
55.440 |
|
EBIDTA/ TOI (%) |
13.6% |
12.1% |
|
Interests |
19.360 |
22.200 |
|
Depreciation |
6.900 |
7.200 |
|
Operating Profit |
25.660 |
26.040 |
|
Non-Operating Income |
5.000 |
5.000 |
|
PBT |
30.660 |
31.040 |
|
PAT |
21.460 |
21.730 |
|
PAT/ TOI (%) |
5.6% |
4.8% |
|
Net Cash Accruals (NCA) |
28.360 |
28.930 |
|
Net Fixed Assets |
84.350 |
75.200 |
|
Tangible Net worth (TNW) |
130.420 |
152.150 |
|
Group Investment |
0.880 |
1.000 |
|
Adjusted TNW (ATNW) |
129.540 |
151.150 |
|
Long Term Debt |
21.300 |
18.800 |
|
Short Term Debt |
|
|
|
Working Capital Bank Finance |
50.600 |
50.600 |
|
Total Debt |
71.900 |
69.400 |
|
Total Debt/ TNW |
0.060 |
0.050 |
|
LTD/ TNW |
0.020 |
0.010 |
|
TOL/ TNW |
0.150 |
0.130 |
|
TOL/ ATNW |
0.150 |
0.130 |
|
Total Current Assets |
237.680 |
266.250 |
|
Total Current Liabilities |
171.190 |
171.500 |
|
Net Working Capital |
66.490 |
94.750 |
|
Current Ratio |
0.140 |
0.160 |
|
ROCE (%) |
22.3% |
21.8% |
|
Interests Cover |
0.268 |
0.250 |
|
Total Debt/ NCA |
0.250 |
0.240 |
FUND
FLOW ANALYSIS
(RS IN MILLIONS)
|
Year
Ended/ Ending March 31 |
2009 (Estimates) |
2010 (Projected) |
|
|
|
|
|
Long Term Sources |
28.273 |
30.881 |
|
Long Term Uses |
3.345 |
2.625 |
|
Surplus/ Deficit |
24.928 |
28.256 |
|
Surplus/ Incremental Build up of Current Assets (%) |
16.41% |
12.02% |
SALES
(LOCAL) REGISTER
MONTHLY
SUMMARY
(RS IN
MILLIONS)
01-04-2008
to 30-11-2008
|
Particulars |
Transactions |
Closing Balance |
|
|
|
Debit |
Credit |
|
|
|
|
|
|
|
April |
|
51.582 |
51.582 Cr |
|
May |
|
45.335 |
96.917 Cr |
|
June |
|
51.560 |
148.477 Cr |
|
July |
|
52.908 |
201.385 Cr |
|
August |
|
48.542 |
249.927 Cr |
|
September |
|
40.890 |
290.817 Cr |
|
October |
|
30.122 |
320.939 Cr |
|
November |
|
25.974 |
346.913 Cr |
|
|
|
|
|
|
Grand Total |
|
346.913 |
346.913 Cr |
PURCHASES
RAWMATERIAL REGISTER
MONTHLY
SUMMARY
(RS
IN MILLIONS)
01-04-2008
to 30-11-2008
|
Particulars |
Transactions |
Closing Balance |
|
|
|
Debit |
Credit |
|
|
|
|
|
|
|
April |
46.010 |
|
46.010 Dr |
|
May |
14.307 |
|
60.318 Dr |
|
June |
32.415 |
|
92.733 Dr |
|
July |
38.323 |
|
131.056 Dr |
|
August |
50.924 |
|
181.980 Dr |
|
September |
24.882 |
|
206.862 Dr |
|
October |
16.116 |
|
222.978 Dr |
|
November |
11.015 |
|
233.992 Dr |
|
|
|
|
|
|
Grand Total |
233.992 |
|
233.992 Dr |
-------------------------------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF
ASSETS AND LIABILITIES
(MR. YASHPAL
RAJKUMAR MEHRA)
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the
Company/ Firm/ Concern in which investment is made |
Rs. In Millions |
|
|
|
|
Shivam Steel and Yubes Private Limited |
1.010 |
|
Vijay Furniture Manufacturer Company Private Limited |
0.040 |
DEPOSITS
HELD WITH BANKS
|
Name
of the Bank |
Nature of Deposits Held |
Rs. In Millions |
|
|
|
|
|
HDFC Bank |
Saving |
0.340 |
|
Corporation Bank |
Saving |
0.010 |
|
Bank of |
Saving |
0.005 |
|
Bank of |
PPF |
1.082 |
DEPOSITS
HELD WITH COMPANIES/ OTHERS
|
Name
of the Bank |
Nature of Deposits |
Rs. In Millions |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Loan |
0.227 |
|
Vijay Furniture Manufacturer Company Private Limited |
Loan |
0.013 |
GOVERNMENT
SECURITY/ NATIONAL SAVINGS CERTIFICATES/ SHARES OF LISTED COMPANIES/ UNITS OF
UNIT TRUST OF
|
Description of
Security |
Market Value (Millions) |
|
|
|
|
Mutual Fund |
0.900 (FV) |
|
Shares |
1.031 (MV) |
|
Total Assets |
Rs.4.658 Millions |
|
Total Net Worth |
Rs.4.658 Millions |
DETAILS
OF EXISTING GUARANTEE OBLIGATIONS
|
Name of the Principal Debtors on whose behalf
guarantee is furnished |
Extent to which guarantee is furnished (Rs. In Millions) |
Name of the Creditor |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Joint Guarantor
with other three directors |
Corporation Bank M Mumbai - 400003 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF
ASSETS AND LIABILITIES
(MRS. MANNIE
YASHPAL MEHRA)
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the
Company/ Firm/ Concern in which investment is made |
Rs. In Millions |
|
|
|
|
Shivam Steel and Yubes Private Limited |
0.100 |
|
Shree Siddhivinayak Builders |
0.838 |
DEPOSITS
HELD WITH BANKS
|
Name
of the Bank |
Nature of Deposits Held |
Rs. In Millions |
|
|
|
|
|
HDFC Bank |
Saving |
0.559 |
|
Bank of |
Saving |
0.003 |
|
Corporation Bank |
Saving |
0.011 |
|
Bank of |
PPF |
0.466 |
DEPOSITS
HELD WITH COMPANIES/ OTHERS
|
Name
of the Bank |
Nature of Deposits |
Rs. In Millions |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Loan |
0.336 |
GOVERNMENT
SECURITY/ NATIONAL SAVINGS CERTIFICATES/ SHARES OF LISTED COMPANIES/ UNITS OF
UNIT TRUST OF
|
Description of
Security |
Market Value (Millions) |
|
|
|
|
Shares |
0.924 (MV) |
|
Mutual Fund |
0.788 (FV) |
|
Total Assets |
Rs.4.025 Millions |
|
Total Net Worth |
Rs.4.025 Millions |
DETAILS
OF EXISTING GUARANTEE OBLIGATIONS
|
Name of the Principal Debtors on whose behalf guarantee
is furnished |
Extent to which guarantee is furnished (Rs. In Millions) |
Name of the Creditor |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Joint Guarantor
with other three directors |
Corporation Bank M Mumbai - 400003 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF
ASSETS AND LIABILITIES
(MRS. POONAM
REJENDRA MEHRA)
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the
Company/ Firm/ Concern in which investment is made |
Rs. In Millions |
|
|
|
|
Shivam Steel and Yubes Private Limited |
0.100 |
|
Shree Siddhivinayak Builders |
0.838 |
DEPOSITS
HELD WITH BANKS
|
Name
of the Bank |
Nature of Deposits Held |
Rs. In Millions |
|
|
|
|
|
Corporation Bank |
Saving |
0.011 |
|
Bank of |
PPF |
0.466 |
|
HDFC Bank |
Saving |
0.007 |
DEPOSITS
HELD WITH COMPANIES/ OTHERS
|
Name
of the Bank |
Nature of Deposits |
Rs. In Millions |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Loan |
0.293 |
|
Total Assets |
Rs.1.715 Millions |
|
Total Net Worth |
Rs.1.715 Millions |
DETAILS
OF EXISTING GUARANTEE OBLIGATIONS
|
Name of the Principal Debtors on whose behalf guarantee
is furnished |
Extent to which guarantee is furnished (Rs. In Millions) |
Name of the Creditor |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Joint Guarantor
with other three directors |
Corporation Bank M Mumbai - 400003 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF
ASSETS AND LIABILITIES
(MR. REJENDRA
RAJKUMAR MEHRA)
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the
Company/ Firm/ Concern in which investment is made |
Rs. In Millions |
|
|
|
|
Shivam Steel and Yubes Private Limited |
1.010 |
|
Vijay Furniture Manufacturer Company Private Limited |
0.040 |
DEPOSITS
HELD WITH BANKS
|
Name
of the Bank |
Nature of Deposits Held |
Rs. In Millions |
|
|
|
|
|
Bank of |
Saving |
0.041 |
|
Corporation Bank |
Saving |
0.010 |
|
HDFC Bank |
Saving |
0.545 |
|
Bank of |
PPF |
1.082 |
DEPOSITS
HELD WITH COMPANIES/ OTHERS
|
Name
of the Bank |
Nature of Deposits |
Rs. In Millions |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Loan |
0.140 |
|
Vijay Furniture Manufacturer Company Private Limited |
PPF |
0.466 |
GOVERNMENT
SECURITY/ NATIONAL SAVINGS CERTIFICATES/ SHARES OF LISTED COMPANIES/ UNITS OF
UNIT TRUST OF
|
Description of
Security |
Market Value (Millions) |
|
|
|
|
MSS |
0.037 |
|
Shares |
5.068 (MV) |
|
Mutual Fund |
0.900 (FV) |
INCLUDING
MOVABLE ASSETS LIKE FURNITURE AND FIXTURE/ PLANT AND MACHINERY/ VEHICLES /
JEWELS ETC.
|
Nature/ Details
of assets |
Market value of assets |
|
|
|
|
Gold |
0.245 (PC) |
|
Total Assets |
Rs.9.171 Millions |
|
Total Net Worth |
Rs.9.171 Millions |
DETAILS
OF EXISTING GUARANTEE OBLIGATIONS
|
Name of the Principal Debtors on whose behalf
guarantee is furnished |
Extent to which guarantee is furnished (Rs. In Millions) |
Name of the Creditor |
|
|
|
|
|
Shivam Steel and Yubes Private Limited |
Joint Guarantor
with other three directors |
Corporation Bank M Mumbai - 400003 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
FORM 8: BANKERS
CHARGES REPORT AS PER REGISTRY
|
Name of the company |
SHIVAM STEEL AND TUBES PRIVATE LIMITED |
|
Presented By |
Corporation Bank, A. R. Street Branch Branch, Mumbai – 400003, |
|
1) Date and description of instrument creating the change |
Unattested Deed
of Hypothecation of Movables dated 12th June 1999 Agreement for
Tera Loan dated 12th June 1999 (Both the
Agreements constitute a Single charge) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.14.000
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 |
Hypothecation of Plant
and Machinery worth Rs.16.228 Millions and other fixed assets worth Rs.0.500
Millions. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Penal Interests @
2% p.a. Interests @ 16% p.a.
being 4% over and above the banks price lending rate (PLR) which is 12% p.a. Margin – 33% or
plant and machinery and 40% for land and Building. The loan amount
shall be repaid within 59 months installments of Rs.0.234 Million. Quarterly
interests shall be paid separately as and when due. |
|
5) Name and Address and description of the person entitled to the charge. |
Corporation Bank 108/110, |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
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. |
NA |
|
Corporate
identity number of the company |
U27104MH1998PTC116496 |
|
Name of the
company |
SHIVAM STEEL AND TUBES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Modification of Charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
Corporation Bank |
|
Amount secured by
the charge |
Rs.7.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
As per Banks
Rules |
|
Particulars of the
property charged |
Immovable
Properties Plant and
Machinery Furniture and
Fixture Stock in Trade Book Debts All Fixed Assets,
Current Assets and Other Assets of First charge
(Present and future) Hypothecation of Stock
and Book debts of the company including Goods/ Stock under L. C. Kept at
borrower place or in transit First charge on
land and building construction and machinery purchased out of bank finance Hypothecation of
all fixed assets / Movable of the company |
FIXED ASSETS:
- Land
- Building
- Premises
- Plant and
Machinery
- Electrical
Installation
- Motor Car
- Computers
- Office
Equipment
- Tools and
Dies
- Tools and
Equipment
- Furniture
- Fax Machine
- Printers
- Refrigerator
- Air
Conditioner
- Weigh Machine
WEBSITE DETAILS:
PROFILE:
A passion for excellence a commitment to quality established
in 2000 Company has emerged as a manufacturers, exporters and supplier of
erw precision steel tubes, black welded steel pipes to all the major industries
in
The present annual installed capacity of Erw tubes is 80,000mt. The
products top quality versatile custom made Shivam manufactures erw tubes for
automotive general engineering bicycle and electrical stamping applications.
Erw precision steel tubes: 12.7mm TO 65mm OD; thickness 0.7MM TO
2.5MM
Tubes are supplied in full lengths 4t to 6metres as well as specified cut
lengths to users in automotive general engineering bicycle body and furniture
segments.
Company’s equipped with two tube mills to offer a wide range of round square
rectangular oval and elliptical tubes to the esteemed clients. The quality
management system which conforms to ISO 9001 is constantly monitored and
updated through internal and external audits at regular intervals. Truly an
ongoing saga of success that redefines the rules of customer satisfaction
THE DISTINGUISHING
FEATURES OF THEIR PRODUCTS ARE:
- Diverse uses
- Strong Tolerance
- Dimensionally Correct
- Durable
- Corrosion resistant
- Sturdy construction
- Excellent surface finish
THEY HAVE BEEN
FORTUNATE TO CATER TO THE INDUSTRIES DEALING IN FOLLOWING PRODUCTS:
- Automobile
- Machine tools
- Pumps
- Textile machinery
- Automobiles Inner Critical Components, Outer skin Panels, Reinforcement & Outer Body Components
- Home Appliances: Refrigerator Doors, Side Panels, Washing Machine Panels
- Electrical Panels
- Computer Cabinets
- Electronic Equipment
- Cabinets
- Switch Gears
- Engineering Air-Conditioners & Ducting Boiler Panel Strips
- Finning Strips for Heat Exchanger
- Tubes
- Ventilation
- Furniture Chairs & Office Furniture Components
- Heat Exchangers
INFRASTRUCTURE:
The infrastructure of the organization has played a pivotal
role in our success story. Situated in village atagaon NH1district Thane,
themanufacturing unit is spread over a vast area of 100000 sq. feet, with an
installed capacity of 80,000 tons per annum.
They are equipped with modern and well tested machinery and equipments to
ensure the fulfillment of commitments towards their respective clients.
THE
MACHINERIES AND EQUIPMENTS THEY USE ARE AS UNDER:
- Rolling mills
- HR Slitting
Lines
- Continuous
Pickling Lines
- Slitting
Machines
- Cut to length
machines
- Precision
Tube Mills with other auxiliary equipment
- 4-HI Cold
Reversing Mills
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.39 |
|
|
1 |
Rs.70.65 |
|
Euro |
1 |
Rs.66.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|