MIRA
INFORM REPORT
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Report Date : |
09.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GLOBAL COKE PRIVATE LIMITED |
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Formerly Known As : |
PARASNATH ORCHARDS PRIVATE LIMITED |
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Registered Office : |
G-6, Anandlok Building, 227, A J C Bose Road, Kolkata – 700020, West
Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
03.03.1999 |
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Com. Reg. No.: |
21-88892 |
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CIN No.: [Company
Identification No.] |
U01122WB1999PTC088892 |
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IEC No.: |
0207006211 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALP04949A |
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PAN No.: [Permanent
Account No.] |
AADCP1046P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Low Ash Metallurgical Coke |
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 946376 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having fine track
records. Trade relations are fair. Business is active. Payments are reported
as usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Devendra Kumar Ojha |
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Designation : |
Managing Director |
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Contact No.: |
91-9830027431 |
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Date : |
09.06.2008 |
LOCATIONS
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Registered Office : |
G -6, Anand Lok Building, 227, AJC Bose Road, Kolkata – 700020, West
Bengal, India |
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Tel. No.: |
91-33-22817861 |
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Fax No.: |
91-33-22817875 |
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E-Mail : |
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Administrative Office : |
204, Elgin Chambers, 2nd Floors, 1A Ashutosh Mukherjee
Road, Kolkata – 700020, West Bengal, India |
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Tel. No.: |
91-33-24866038/ 6039 / 6040 |
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Mobile No.: |
91-9830027431 |
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Fax No.: |
91-33-24866041 |
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E-Mail : |
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Area: |
2165 Sq.fts |
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Location: |
Owned |
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Corporate Office : |
199/5 Mahatma Gandhi Road, 2nd Floor, Kolkata – 700 007,
West Bengal, India |
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Factory 1 : |
Village Khiri Taluk Jodiya Jamnagar , Gujarat, India |
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Tel. No.: |
91-2893-286433 |
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Fax No.: |
91-2983-286432 |
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Area : |
27 Acres |
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Location : |
Owned |
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Branches : |
303, Prasaham Building, K R Gandhi Marg, Near Dharam Cinema , Rajkot –
360 001, India |
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Tel. No.: |
91-281-2490223 / 2490224 |
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Fax No.: |
91-281-2490226 |
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Area : |
1200 Sq.fts |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Eela Jain |
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Designation : |
Director |
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Address : |
25 Ballygunge Circular Road, Kolkata – 700 019, West Bengal, India |
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Date of Birth/Age : |
11.10.1966 |
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Date of Appointment: |
30.03.1999 |
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PAN No.: |
AERPJ8942B |
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Name : |
Mr. Devendra Kumar Ojha |
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Designation : |
Director |
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Address : |
C -2/28, Kendriya Vihar VIP Road, Kolkata – 700 052, West Bengal,
India |
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Date of Birth/Age : |
15.05.1961 |
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Qualification : |
C.A |
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Experience : |
25 years |
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Date of Appointment: |
20.04.2007 |
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Name : |
Mr. Rabindra Nath Bhattacharya |
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Designation : |
Director |
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Address : |
C -6/86 Kendriya Vihar, VIP road, Kolkata -700 052, West Bengal, India
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Date of Birth/Age : |
65 years |
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Qualification : |
M. Sc /IPS |
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Experience : |
40 years |
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Name : |
Mr. Sashi Kumar |
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Designation : |
Director |
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Address : |
92/1 B, Abdul Kalam Azad Sarani, Rukamani Apartment, Flat No. 5 RC,
Kankurgachi, Kolkata – 700 054, West Bengal, India |
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Date of Birth/Age : |
62 years |
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Qualification : |
Bachelor Engineering (Mechanical) |
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Experience : |
40 years |
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Name : |
Dr. Ashwani Ahuja |
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Designation : |
Director |
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Address : |
A -224, Defence Colony, 1st Floor, New Delhi – 110 024,
India |
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Date of Birth/Age : |
35 years |
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Qualification : |
Phd Finance MBA Havard, USA |
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Experience : |
12 years |
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Name : |
Mr. Bonnya Mukherjee |
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Designation : |
Director |
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Address : |
17 A, Golf Club Road, Blk- II, Flat -3, kolkata – 700 033, West
Bengal, India |
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Date of Birth/Age : |
08.08.1973 |
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Qualification : |
Chartered Accountants |
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Experience : |
10 years |
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Date of Appointment : |
2.04.2007 |
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Name : |
Mr. Saroj Surana |
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Designation : |
Director |
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Address : |
81, Southern Avenue, Kolkata – 700 029, West Bengal, India |
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Date of Birth/Age : |
20.10.1956 |
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Date of Appointment: |
23.03.1999 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2008)
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Names of Shareholders |
No. of Shares |
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Mr. D K Ojha and Family |
600000 |
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Yamini Agencies Private Limited |
200000 |
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Others |
195020 |
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Total |
995020 |
(As on 31.03.2007)
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Low Ash Metallurgical Coke |
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Product with Brand Names : |
Low Ash Metallurgical Coke
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Imports : |
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Products : |
Low Ash Cooking Coal |
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Countries : |
· Australia · China · Indonesia · USA · Canada · Mozambique |
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Terms : |
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Selling : |
Credit (60 Days) |
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Purchasing : |
L/C and Credit (90-180 Days) |
PRODUCTION STATUS
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Particulars |
Installed Capacity |
Actual Production |
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Met coke |
12000 MT per month .i.e 144000 MT annually |
80% of installed capacity |
GENERAL
INFORMATION
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Customers : |
End users |
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No. of Employees : |
200 (5 in office, 180 in Factory, 15 in Branch) |
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Bankers : |
· The Vysya Bank Limited Middleton Street, India · State Bank of India, Industrial Finance Branch, 11, Dr. U N Brahmachari Street, Kolkata - 700 017, West Bengal, India · UCO Bank Industrial Finance Branch, Mcleod House, 3 Netaji Subhash Road, Kolkata – 700 001, West Bengal, India |
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Facilities: |
State Bank of India · Letter of Credit Rs. 120.000 millions · Overdraft Rs. 18.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name1 : |
G P Yadav and Company Chartered Accountants |
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Address : |
27, Weston Street, 5th Floor, Room No. 525, Kolkata – 700
012, West Bengal, India |
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Name 2 : |
R Das and Associates Chartered Accountants |
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Address (Head
Office): |
23/A / B, Allenby Road, Kolkata – 700 020, West Bengal, India |
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Address (Branch Office) |
1/A , Ashutosh Mukherjee Road, Room No. 302A, Kolkata – 700 020, West
Bengal, India |
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Tel No.: |
91-33-24745528 / 24753178 (Head Office) |
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Tel No.: |
91-33-24768439 / 247 8440 (Branch Office) |
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Associates/Subsidiaries : |
Nerve Knock Theme Park Private Limited Address: 3/13, Vardaan , 25 A Camac Street , Kolkata – 700 016, west
Bengal, India Activity: · Operator of themed Amusement park in the heart of the city of Ranchi, Jharkhand · Merchant Trader. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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4209400 |
Equity Shares |
Rs. 10/- each
|
Rs.42.094
millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
4209400 |
Equity Shares |
Rs. 10/-
each |
Rs.42.094
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 |
42.094 |
1.620 |
0.120 |
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2] Share Application Money |
0.000 |
0.000 |
1.500 |
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3] Reserves & Surplus |
194.500 |
2.238 |
1.580 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
236.594 |
3.858 |
3.200 |
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LOAN FUNDS |
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1] Secured Loans |
8.000 |
9.411 |
5.023 |
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2] Unsecured Loans |
21.703 |
0.000 |
0.000 |
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TOTAL BORROWING |
29.703 |
9.411 |
5.023 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
266.297 |
13.269 |
8.223 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
182.208 |
0.149 |
0.149 |
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Capital work-in-progress |
3.613 |
0.000 |
0.000 |
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INVESTMENT |
0.015 |
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 |
101.981
|
18.792 |
1.051 |
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Sundry Debtors |
57.316
|
21.841 |
60.100 |
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Cash & Bank Balances |
32.906
|
2.403 |
1.939 |
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Other Current Assets |
1.618
|
0.000 |
0.000 |
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Loans & Advances |
56.487
|
0.575 |
9.559 |
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Total
Current Assets |
250.308
|
43.611 |
72.649 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
165.293
|
29.499 |
63.983 |
|
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Provisions |
4.590
|
1.046 |
0.664 |
|
Total
Current Liabilities |
169.883
|
30.545 |
64.647 |
|
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Net Current Assets |
80.425
|
13.066 |
8.002 |
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MISCELLANEOUS EXPENSES |
0.036 |
0.054 |
0.072 |
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TOTAL |
266.297 |
13.269 |
8.223 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
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Sales Turnover |
369.878 |
53.930 |
62.538 |
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Other Income |
0.510 |
0.266 |
0.000 |
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Total Income |
370.388 |
54.196 |
62.538 |
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Profit/(Loss) Before Tax |
29.004 |
1.040 |
1.075 |
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Provision for Taxation |
3.286 |
0.382 |
0.364 |
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Profit/(Loss) After Tax |
25.718 |
0.658 |
0.711 |
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Expenditures : |
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Cost of Goods Sold |
283.940 |
44.429 |
60.138 |
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Manufacturing Expenses |
28.194 |
0.046 |
NA |
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Administrative Expenses |
18.602 |
0.063 |
1.325 |
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Interest |
8.873 |
8.612 |
NA |
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Depreciation & Amortization |
1.069 |
0.000 |
NA |
|
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Other Expenditure |
0.706 |
0.006 |
NA |
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Total Expenditure |
341.384 |
53.156 |
61.463 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
6.94
|
1.21 |
1.14 |
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Net Profit Margin (PBT/Sales) |
(%) |
7.84
|
1.93 |
1.72 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.71
|
2.37 |
1.48 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.27 |
0.34 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.84
|
10.35 |
21.77 |
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Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.43 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The SC was or originally incorporate on March 3, 1999 in the name of
“Parasnath Orchards Private Limited” and Changed in to its present name :Global
Coke Private Limited: w.e.f. October 5, 2007
TRADE REFERENCE:
·
Mr. Himanshu
Bajaj / Mr. Rajiv Malhotra
Ispat industries Limited
Address: Plot 45, sector 11, 3 BD , Belapur, Navi Mumbai – 400 614,
Maharashtra, India
Tel No.:91-22-27582860/61
Fax No.:91-22-27577494
E-Mail: Himanshu_Bajaj@ispatind.com
·
Mr. C J Patel
Nirma Limited
Consignee Address: Survey No. 480, Kalatalav , Bhavnagar – 364 313,
Registered office: Ashram Road, Ahmedabad – 380 009, Gujarat, India
Tel
No.:91-79-27546565 /74
Fax No,:
91-79-27546603
·
Purchased
department
Rockwool India Limited
Consignee Address:
Kaveli-502321 Zaheerabad,
Medak District, Andhra Pradesh, India
Tel No.:
91-8451-287511/12
Fax No.:
91-8451-287554
·
Mr. Jogendra
Singh, Senior Manager Purchase
Hindalco
Industries Limited
Unit: Birla Copper
Post : Dahej
District Bharuch , Gujarat -392 130, India
Tel No.:
91-2641-256004 / 256006
Fax No.:
91-2641-251003
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U01122WB1999PTC088892 |
|
Name of the company |
GLOBAL COKE
PRIVATE LIMITED |
|
Address |
204, Elgin Chambers, 2nd Floors, 1A Ashutosh Mukherjee
Road, Kolkata – 700 020, West Bengal, India |
|
This Form is for |
Creation of Charge |
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Type of Charges |
· Book Debts · Movable Property · Floating Charge |
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Particular of the charge holder
|
State Bank of India Industrial Finance Branch 11, Dr. U N Brahmachari Street, Kolkata - 700 017, West Bengal, India E-Mail; sbi.01936@sbi.co.in |
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Nature or description of the instrument creating charge |
Agreement of hypothecation of goods and assets |
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Date of the instrument creating charge |
03.12.2007 |
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Amount Secure by the charge |
Rs. 138.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : For overdraft @4% over SBAR, present effective rate being 16.75% p.a
at monthly rests. Terms of repayment: As may be stipulated by the bank from time to time. Margin: 20% of letter of credit Extent and operation of the charge: First charge on the whole of the hypothecation assets. |
|
Short particulars of the Property charged |
All present and future good book debts and all other movable assets of
the borrower including documents of title to the goods, outstanding moneys,
receivables, claims, bills, invoices, contract, investment, plant and
machinery both present and future and all other current assets by way first
charge. |
|
Corporation identity number or foreign company registrations number of
the company |
U01122WB1999PTC088892 |
|
Name of the company |
PARASNATH ORCHARDS PRIVATE LIMITED |
|
Address |
3/13,
Vardaan, 25 A, Camac Street, Kolkata – 700 016, West Bengal, India |
|
This Form is for |
Creation of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder
|
UCO Bank Industrial Finance Branch Mcleod House, 3 Netaji Subhash Road, Kolkata – 700 001, West Bengal,
India |
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Nature or description of the instrument creating charge |
· Deed of hypothecation of goods · Deed of hypothecations of book debts |
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Date of the instrument creating charge |
16.03.2006 |
|
Amount Secure by the charge |
Rs. 100.000 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
The hypothecated assets and all sales realizations and insurance
proceeds thereof and all the book debts and realizations thereof and all the documents under this security
shall be held as the bank exclusive property specifically appropriated to
this security and the borrower
will not create any mortgage , charge
lien or encumbrance affecting the same or any part thereof. The hypothecated stocks shall be insured against the loss or damage
under the bank clause Commission As per Bank guidelines from time to time Margin: 15% |
|
Description of the property charge whether it is a charge on |
· Book Debts · Stocks in Trade |
|
Particulars of the Property charged
|
The borrower hereby hypothecation by way of first charge 1in favour of
the bank the entire stocks of households and consumables goods and other
products, goods and movable property of any kind which now or hereafter from time to time during the security
shall be brought into stored or be in or about the borrower premises godowns
at 26 B , Topsia Road , kolkata - 700
046, West Bengal, India or wherever
else and stocks covered under unpaid L/C bills of UCO Bank and all present
and future book debts, outstanding moneys, receivables , claims , etc as
security. |
Fixed Assets:
· Land
· Factory Land
· Factory Building
· Coke Oven Plant
· Plant and Machinery
· Material Handling Equipments
· Motor Cars
· Two Wheelers
· Office Equipments
· Computers
· Furniture and Fixture
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.56 |
|
UK Pound |
1 |
Rs.84.32 |
|
Euro |
1 |
Rs.67.08 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|