MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BABA SMELTERS PRIVATE LIMITED |
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Registered Office : |
208, Abdul Halim Street, 7th Floor, Kolkata 700069, West
Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
03.09.2003 |
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Com. Reg. No.: |
096948 |
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CIN No.: [Company
Identification No.] |
U28999WB2003PTC096948 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALB07922F |
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PAN No.: [Permanent
Account No.] |
AACCB5169J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Structural Items |
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 350000 |
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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 meeting its normal commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Vijay Baranwal |
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Designation : |
Finance Adviser |
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Date : |
03.06.2008 |
LOCATIONS
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Registered Office : |
208, Abdul Halim Street, 7th Floor, Kolkata 700069, West
Bengal, India |
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Tel. No.: |
91-33-22137518 /22137519 |
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Mobile No.: |
91-9932820970 |
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Fax No.: |
91-33-22137520 |
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E-Mail : |
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Website : |
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Area : |
3.8 acres |
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Location : |
Leased |
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Head Office : |
38, N.S.B. Road, Raniganj, Dist- Burdwan 713347, West Bengal, India |
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Tel. No.: |
91-341-2444732 |
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Fax No.: |
91-341-2442811 |
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Factory 1 : |
Plot – F5, Mangalpur Industrial Estate, Mangalpur, Raniganj, Burdwan, West Bengal, India |
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Tel. No.: |
91-341-3091078/2442809-13 (5
lines) |
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Fax No.: |
91-341-2447703 |
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Mobile No.: |
91-9434002183 / 9333100415
/9434010324 /9434013765 |
DIRECTORS
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Name : |
Mr. Gopal Kumar Agarwal |
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Designation : |
Director |
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Address : |
Chowk Bazar, Giridih 815301, Jharkhand, India |
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Date of Birth/Age : |
21.05.1958 |
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Date of Appointment : |
25.04.2005 |
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Name : |
Mr. Rajiv Dalmia |
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Designation : |
Director |
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Address : |
C/O. Mohanlal Dalmia, G. T. Road, P.O. Searsole Rajbari, Raniganj
713358, West Bengal, India |
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Date of Birth/Age : |
03.02.1980 |
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Qualification : |
B.Com |
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Date of Appointment : |
23.06.2007 |
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Name : |
Mr. Ravindra Kumar Chaudhary |
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Designation : |
Director |
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Address : |
38, N. S. B. Road, Raniganj 713347, West Bengal, India |
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Date of Birth/Age : |
30.11.1974 |
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Qualification : |
C.A. |
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Date of Appointment : |
09.09.2003 |
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Name : |
Mr. Binod Kumar Agarwal |
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Designation : |
Director |
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Address : |
Chowk Bazar, Giridih 815301, Jharkhand, India |
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Name : |
Mr. Rajendra Prasad Chaudhary |
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Designation : |
Director |
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Address : |
38, N. S. B. Road, Raniganj 713347, West Bengal, India |
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Date of Birth/Age : |
01.01.1948 |
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Date of Appointment : |
09.09.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2004]
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Names of Shareholders |
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No. of Shares |
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Mr. Ravindra Kumar Chaudhary |
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5000 |
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Mr. Rajendra Prasad Chaudhary |
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5000 |
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Equity Shares
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Bodies Corporate |
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77.00 |
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Directors or relatives of the Directors |
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23.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Structural Items |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit |
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Purchasing : |
Credit, D/D |
GENERAL
INFORMATION
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Customers : |
v
Amardeep Industrial Corp. v
Amco Traders v
Annapurna Traders v
Ashok Kr. & Brothers v
B. K. Steel v
Bajrang Steel Co. v
Bajrang Trading Company v
Beekay Industrial Corp. v
Bengalpipe Industries v
Goyal Steel Supply Co. v
Hanuman Trading Co. v
Hind Trading Corp. v
Indo East Corp. v
Indo Sales Corp. v
Indo Steel Fabrico |
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No. of Employees : |
150 |
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Bankers : |
Raniganj Branch, Dr. B. Banerjee Road, Raniganj 713347, West Bengal,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J. Loyalka and Company Chartered Accountants |
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Address : |
162, Dr. B. Banerjee Road, Raniganj 713347, West Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1171000 |
Equity Shares |
Rs. 10/-
each |
Rs. 11.710
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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11.710 |
11.710 |
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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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58.365 |
46.515 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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70.075 |
58.225 |
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LOAN FUNDS |
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1] Secured Loans |
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141.102 |
37.564 |
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2] Unsecured Loans |
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9.580 |
9.048 |
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TOTAL BORROWING |
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150.682 |
46.612 |
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DEFERRED TAX LIABILITIES |
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2.532 |
0.000 |
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TOTAL |
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223.289 |
104.837 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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110.115 |
83.804 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.065 |
0.065 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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45.539 |
23.517 |
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Sundry Debtors |
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94.191 |
0.000 |
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Cash & Bank Balances |
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2.166 |
2.321 |
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Other Current Assets |
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1.914 |
0.215 |
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Loans & Advances |
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18.962 |
36.173 |
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Total
Current Assets |
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162.772 |
62.226 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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46.150 |
43.884 |
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Provisions |
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3.700 |
0.043 |
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Total
Current Liabilities |
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49.850 |
43.927 |
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Net Current Assets |
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112.922 |
18.299 |
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MISCELLANEOUS EXPENSES |
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0.187 |
2.669 |
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TOTAL |
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223.289 |
104.837 |
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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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2.86 |
1.55 |
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Current Ratio (Current Asset/Current Liability) |
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3.26 |
1.42 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
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Corporation identity number or foreign company registrations number of the company |
U28999WB2003PTC096948 |
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Name of the company |
BABA SMELTERS
PRIVATE LIMITED |
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Address |
208, Abdul Halim Street, 7th Floor, Kolkata 700069, West
Bengal, India |
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This Form is for |
Creation of charge |
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Type of Charges |
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Particular of the charge holder |
UCO Bank India Exchange Place Branch, 2, India Exchange Place, Kolkata 700001, West Bengal, India |
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Nature or description of the instrument creating charge |
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Date of the instrument creating charge |
24.08.2006 |
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Amount Secure by the charge |
Rs. 12.500 Millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
The hypothecation goods and all sales, realizations and insurance proceeds thereof shall be held as the banks exclusive properties specifically appropriated to this security and the borrower will not create any charge, mortgage affecting the same. The hypothecation goods shall be insured against loss or damage under bank clause interest @ 2% p.a. above the rate applicable for the regular sanctioned limit. Margin 25% on stocks and 40% on Book debts. |
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Particulars of the Property charged |
Hypothecation by way of 1st charge entire stocks of raw materials, W.I.P. Finished goods and other movable including all plant and machinery of the company stored or to be stored at the company’s premises /godowns/factory situated at Mangalpur Industrial Estate, Ranigunj, Burdwan or wherever else. All present and future book debts, outstanding moneys, receivables, claims etc. Equitable mortgage by deposit of title deeds of immovable properties at F-5, Mangalpur Industrial Estate, Ranigunj, Burdwan. |
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Name of the company |
BABA SMELTERS
PRIVATE LIMITED |
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Presented By |
Mr. Ravindra
Kumar Chaudhary |
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1) Date and description of instrument creating the change |
Letter of deposit
of title deeds for lease hold land and shed and building, deed of
hypothecation of movable plant and machinery and hypothecation of goods dated
26.10.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 48.000
Millions for Term Loan Rs. 33.000
Millions for Cash Credit Rs. 3.000
Millions for Bank Guarantee Total Rs. 84.000
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 |
Movable plant and
machinery, spare parts, fixed assets and lease hold land with building at
ADDA Mangalpur Industrial Estate, Raniganj measuring area 3.1 acres and all
stocks like raw material, work in progress, finished goods and book debts. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Loan Rs. 48.000
Millions for term Loan and Rs. 33.000 Millions for cash credit @ of interest 10%
p.a. Term loan will be repaid in 20 quarterly installment @ Rs. 2.400
Millions commencing from 30.06.2007. |
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5) Name and Address and description of the person entitled to the charge. |
UCO Bank Raniganj Branch, Dr. B. Banerjee Road, Raniganj 713347, West Bengal,
India |
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6) Date and brief description of instrument modifying the charge |
NA |
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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 |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 42.79 |
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UK Pound |
1 |
Rs. 83.77 |
|
Euro |
1 |
Rs. 66.71 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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 |
|
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 |
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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 |
|
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 |
|
<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 |
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