MIRA
INFORM REPORT
|
Report Date : |
26.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ARYA ALLOYS PRIVATE LIMITED |
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Registered Office : |
B – 824 Phase 2, RIICO Industrial Area, Bhiwadi, Alwar 301 019, Rajasthan |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.05.1991 |
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Com. Reg. No.: |
17- 006003 |
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CIN No.: [Company
Identification No.] |
U27101RJ1991PTC006003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JPRA02549B |
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PAN No.: [Permanent
Account No.] |
AABCA5062C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Lead Alloys, Lead Oxide, Zinc Ingots |
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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Maximum Credit Limit : |
USD 54000 |
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Status : |
Satisfactory |
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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. 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. |
LOCATIONS
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Registered Office : |
B – 824 Phase 2, RIICO Industrial Area, Bhiwadi, Alwar 301 019, Rajasthan, India |
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Tel. No.: |
91-1493-221070 |
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E-Mail : |
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Branch : |
A 7/41, Mianwali Nagar, Near Peeragarhi, New Delhi 110087, India |
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Tel. No. : |
91-11-25289815/16 |
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Fax No. : |
91-11-25250067 |
DIRECTORS
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Name : |
M. Romy Bansal |
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Designation : |
Director |
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Address : |
A – 7/41, Mianwali Nagar, New Delhi 110087, India |
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Date of Birth/Age : |
08.10.1970 |
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Date of Appointment : |
30.09.1996 |
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Name : |
Mr. Raj Kumar Bansal |
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Designation : |
Director |
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Address : |
A – 7/41, Mianwali Nagar, New Delhi 110087, India |
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Date of Birth/Age : |
10.01.1943 |
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Date of Appointment : |
30.09.1996 |
KEY EXECUTIVES
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Name : |
S. B. Nehera and Company |
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Designation : |
Company Secretary |
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Address : |
469, Pocket III, Sector 19, DDA MIG Flats, Dwarka, New Delhi 110075,
India |
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Mobile No. : |
91-9999002490 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2005
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Names of Shareholders |
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No. of Shares |
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Rajkumar Bansal |
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14000 |
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Romy Bansal |
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11100 |
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Sapna Bansal |
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6750 |
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Laxmi Peni |
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10000 |
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Rajkumar Bansal |
|
3700 |
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Rineesh Bansal |
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1600 |
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Ashok Garg |
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1100 |
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Amarnath Bansal |
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5000 |
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Rani Sita |
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12250 |
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Tejkumar Vaid |
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2650 |
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Purushottam Kumar |
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7000 |
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Bhagwandas |
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2900 |
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Vivek Goyal |
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1100 |
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Anil Gupta |
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3500 |
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Sakshi Gupta |
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250 |
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Mohit Bansal |
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100 |
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Vaibhav Singla |
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1100 |
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Anju Garg |
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2000 |
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Romy Bansal |
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2030 |
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Uday Bansal |
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700 |
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Kiran Bala |
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4530 |
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Nirmal Kumari |
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5640 |
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Total |
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99000 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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84.80 |
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Other top fifty shareholders |
|
15.20 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Lead Alloys, Lead Oxide, Zinc Ingots |
GENERAL
INFORMATION
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Bankers : |
Ř Union Bank of
India, Khari Baoli, Delhi
110006, India Ř ICICI Bank
Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. Singhal and Company Chartered Accountants |
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Address : |
E – 127, Industrial Area, Bhiwadi, Rajasthan 301019, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
99000 |
Equity Shares |
Rs. 100/-
each |
Rs. 9.900
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.900 |
9.900 |
9.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3.652 |
2.872 |
2.368 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.552 |
12.772 |
12.268 |
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LOAN FUNDS |
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1] Secured Loans |
35.500 |
9.425 |
14.325 |
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2] Unsecured Loans |
12.481 |
11.416 |
1.918 |
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TOTAL BORROWING |
47.981 |
20.841 |
16.243 |
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DEFERRED TAX LIABILITIES |
1.588 |
1.094 |
0.871 |
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TOTAL |
63.121 |
34.707 |
29.382 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.874 |
10.594 |
11.162 |
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Capital work-in-progress |
0.762 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
23.046
|
8.800 |
9.293 |
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Sundry Debtors |
21.327
|
17.364 |
3.491 |
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Cash & Bank Balances |
0.608
|
0.448 |
0.453 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
11.533
|
2.502 |
6.860 |
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Total
Current Assets |
56.514
|
29.114 |
20.097 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
6.872
|
4.952 |
1.856 |
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Provisions |
0.167
|
0.070 |
0.057 |
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Total
Current Liabilities |
7.039
|
5.022 |
1.913 |
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Net Current Assets |
49.475
|
24.092 |
18.184 |
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MISCELLANEOUS EXPENSES |
0.010 |
0.021 |
0.036 |
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TOTAL |
63.121 |
34.707 |
29.382 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
188.436 |
102.569 |
80.246 |
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Other Income |
0.000 |
2.857 |
2.428 |
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Total Income |
188.436 |
105.426 |
82.674 |
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Profit/(Loss) Before Tax |
1.494 |
0.832 |
0.724 |
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Provision for Taxation |
0.714 |
0.328 |
0.196 |
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Profit/(Loss) After Tax |
0.780 |
0.504 |
0.528 |
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Earnings in Foreign Currency : |
0.881 |
NA |
NA |
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Total Imports |
13.684 |
29.934 |
29.167 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
0.000 |
[0.314] |
2.040 |
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Depreciation & Amortization |
0.866 |
0.693 |
0.665 |
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Other Expenditure |
186.076 |
104.215 |
79.245 |
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Total Expenditure |
186.942 |
104.594 |
81.950 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total
Income |
(%) |
0.41
|
0.47 |
0.63 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.79
|
0.81 |
0.90 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.15
|
2.09 |
2.31 |
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Return on Investment (ROI) (PBT/Networth) |
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0.11
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0.06 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.05
|
2.02 |
1.47 |
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Current Ratio (Current Asset/Current Liability) |
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8.02
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5.79 |
10.50 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
|
This Form is for |
Modification of charge |
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Charge identification
number of the charge to be modified |
90074853 |
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Corporate
identity number of the company |
U27101RJ1991PTC006003 |
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Name of the
company |
ARYA ALLOYS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
B – 824 Phase 2, RIICO Industrial Area, Bhiwadi, Alwar 301 019, Rajasthan, India |
|
Type of charge |
Ř
Immovable
Property Ř
Book Debts Ř
Movable
Property Ř
Others |
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Particular of
charge holder |
Union Bank of
India Khari Baoli,
Delhi 110006, India |
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Nature of
description of the instrument creating or modifying the charge |
Composite
hypothecation deed [SD-20] |
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Date of
instrument Creating the charge |
20.12.2006 |
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Amount secured by
the charge |
Rs. 43.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
Interest 11.50% on CC
[hypothecation] and L/C [b] Terms of
repayment NA [c] Margin On Stocks – 25% On Book Debts –
50% [d] Extent and
operation of the charge Charge to the
extent of Rs. 43.000 Millions to secure CC [hypothecation] limit of Rs.
33.000 Millions and L/C [DA 60 days] of Rs. 10.000 Millions |
|
Short particulars
of the property charged |
Stock and book
debts of the company in at B – 824, Phase II, Industrial Area, Bhiwadi and
/or at Khasra No. 35/22, Rani Khera, Delhi or at any other place. Land, Building,
Plant and machinery situated at B – 824 Phase 2, RIICO Industrial Area, Bhiwadi,
Alwar 301 019, Rajasthan, India |
|
Date of latest
modification prior to the present modification |
31.05.2006 |
|
Particulars of
the present modification |
Overall limit has
been enhanced from existing Rs. 23.000 Millions to Rs. 43.000 Millions which
includes CC [hypothecation] of Rs. 33.000 Millions and L/C [DA 60 days] of
Rs. 10.000 Millions. |
|
Name of the company |
ARYA ALLOYS
PRIVATE LIMITED |
|
Presented By |
Mr. Romy Bansal ,
Director |
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1) Date and description of instrument creating the change |
S – 3 hypothecation [goods] agreement dated 30.04.1998 Agreement of hypothecation of Book debts dated 30.04.1998 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 4.700
Millions + Rs. 4.500 Millions = Rs. 9.200 Millions |
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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
Lead/Alloys, brass Ingots and Lead Oxide, Book Debts and all other current
assets both present and future which shall be stored at borrower’s godown at
B – 824, Industrial area, Bhiwadi, Rajasthan, India |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest @ 3.5%
over PLR + Interest Tax minimum 17.85% p.a. Margin Stock 25% Book Debts 50% |
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5) Name and Address and description of the person entitled to the
charge. |
Union Bank of
India Khari Baoli,
Delhi 110006, India |
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6) Date and brief description
of instrument modifying the charge |
Composite
hypothecation deed [SD-20] dated 09.04.2005 |
|
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. |
Total credit
facilities of Rs. 14.200 Millions consisting of adhoc c/c [hypothecation]
limit of Rs. 2.500 Millions apart from Cash Credit against hypothecation of stock Rs. 9.200 Millions within which
SOD [Book Debts] of Rs. 4.500 Millions and Import L/C limit of Rs. 2.500 Millions against security of
documents under LC. Rate of interest
@ 1.0% above BPLR on Rs. 9.200 Millions and @ 3% above BPLR on adhoc cash
credit [hypothecation] Rs. 2.500 Millions Margin stocks –
25%, Book debts – 30%, L/C – 25% [a] Hypothecation
of all movable goods and assets both present and future including all classes
of raw material, WIP, semi finished and finished goods such as remelted Lead,
Battery Scrap, Lead Ingot, Lead Oxide, Batteries etc. [b] All the
present and future book debts, outstanding moneys receivables, bills etc. [c] Second charge
on all tangible movable plant and machinery etc. lying at B – 824, Industrial area, Bhiwadi,
Rajasthan, India |
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. 40.05 |
|
UK Pound |
1 |
Rs. 78.75 |
|
Euro |
1 |
Rs. 59.39 |
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 |
|