MIRA
INFORM REPORT
|
Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NORTH STAR TUBES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
117, Mittal Chambers, M.G. Road, Secunderabad - 500 003, Andhra
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
25.01.2005 |
|
|
|
|
Com. Reg. No.: |
01-45183 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27107AP2005PTC045183 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
HYDN03002G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCN0381J |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer and Traders of Steel Products such as Tubes
and Pipes, Strips, Coil and Pig etc |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 8000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company. Trade relations are fair. Business
is active. Payments are reported as usually made as per commitments. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ajit Jalan |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9848460001 |
|
Date : |
05.11.2008 |
LOCATIONS
|
Registered Office/ Factory/ Secunderabad Office: |
117, Mittal Chambers, M.G. Road, Secunderabad - 500003, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-27711003/ 66323900/ 659190001/
659140001/ 55323900 |
|
Mobile No.: |
91-9848040001/ 9848460001 [Ajit Jalan] 91-9848860001 [Hasan Ali] 91-9848130001 [Vikas Khetan] |
|
Fax No.: |
91-40-66323901 / 55323901 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Bangalore Office : |
14/1, Ground Floor, 2nd Main Road, 8th Cross, Chamarajpet, Bangalore -
560018 (Karnataka) India |
|
Tel. No.: |
91-80-26674040 |
|
Mobile No. : |
9448370001/94484 50001 |
|
Fax No.: |
91-80-26674040 |
|
E-Mail : |
|
|
|
|
|
Chennai Office : |
663,T.H Road, Tondiarpet, Chennai 600081,
Tamilnadu, India |
|
Tel. No.: |
91-44-25984596 |
|
Mobile No. : |
91-9441230001 / 9840057423 |
|
Fax No.: |
91-44-25984596 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Ramesh Jain |
|
Designation : |
Managing Director |
|
Address : |
A1/55, Mayuri Apartments, Mayur marg, Begumpet, Hyderabad – 500016,
India |
|
Date of Birth/ Age : |
06.12.1962 |
|
Qualification : |
Engineer, M.Sc |
|
Date of Appointment : |
25.01.2005 |
|
Mobile No.: |
91-9848040001 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Syed Hasan Ali |
|
Designation : |
Director |
|
Address : |
315, SRT, Sanath nagar, Hyderabad - 500018 |
|
Date of Birth/ Age : |
24.06.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.01.2005 |
|
|
|
|
Name : |
Mr. Hasan Ali |
|
Designation : |
Director |
|
Mobile No.: |
91-9848860001 |
|
Email : |
KEY EXECUTIVES
|
Name : |
Mr. Ajit Jalan |
|
Designation : |
Accounts Manager |
|
Mobile No.: |
91-9848460001 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Vikas Khetan |
|
Designation : |
Key Executive |
|
Mobile No.: |
91-9848130001 |
|
Email : |
|
|
|
|
|
Name : |
Mr. Ahmed Khan |
|
Designation : |
Key Executive |
|
Mobile No.: |
91-9848720001 |
|
Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 17.09.2007)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ramesh Jain |
|
73000 |
|
Syed Hasan Ali |
|
17000 |
|
Kumud Jain |
|
10000 |
|
|
|
|
|
Total |
|
100000 |
(As on 31.03.2008)
|
Names of Allottes |
|
No. of Shares Allottes |
|
|
|
|
|
Ramesh Jain |
|
105000 |
|
Syed Hasan Ali |
|
50000 |
|
Kumud Jain |
|
75000 |
|
|
|
|
|
Total |
|
230000 |
(As on 31.03.2007)
|
Category |
|
Percentage |
|
|
|
|
|
Directors of relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Traders of Steel Products such as Tubes
and Pipes, Strips, Coil and Pig etc |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
Dubai |
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Credit (30 days) |
|
|
|
|
Purchases : |
L/C, Credit (30 days) |
GENERAL
INFORMATION
|
Customers : |
|
||||||||||
|
|
|
||||||||||
|
No of Employees : |
14 (Office – 8,
Factory – 3 and Branches – 3) |
||||||||||
|
|
|
||||||||||
|
Bankers : |
Small Enterprises
Credit Cell, R P Road, Commercial Branch, Secunderabad - 500003, Andhra
Pradesh, India
|
||||||||||
|
|
|
||||||||||
|
Facilities : |
CC – Rs.10.000 Millions
|
||||||||||
|
|
|
||||||||||
|
Banking
Relations : |
Satisfactory |
||||||||||
|
|
|
||||||||||
|
Auditors : |
|
||||||||||
|
Name : |
P Mohanna Rao and Company Chartered Accountants |
||||||||||
|
Address : |
203, Swagruaha Kalyan Apartments, Plot No. 112 and 113, Kalyan Nagar,
Hyderabad – 500018, Andhra Pradesh, India |
CAPITAL STRUCTURE
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.095 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.588 |
0.026 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.683 |
0.126 |
0.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.554 |
4.002 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
4.554 |
4.002 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6.237 |
4.128 |
0.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.249 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.856
|
0.566 |
0.000 |
|
|
Sundry Debtors |
42.896
|
8.353 |
1.001 |
|
|
Cash & Bank Balances |
0.888
|
0.121 |
0.087 |
|
|
Other Current Assets |
0.307
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.698
|
0.019 |
0.000 |
|
Total
Current Assets |
49.645
|
9.059 |
1.088 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
41.243
|
4.659 |
1.000 |
|
|
Provisions |
2.424
|
0.285 |
0.005 |
|
Total
Current Liabilities |
43.667
|
4.944 |
1.005 |
|
|
Net Current Assets |
5.978
|
4.115 |
0.083 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.010 |
0.013 |
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
6.237 |
4.128 |
0.100 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
105.811 |
17.590 |
|
Other Income |
|
0.000 |
0.000 |
|
Total Income |
|
105.877 |
17.590 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.971 |
0.052 |
|
Provision for Taxation |
|
0.409 |
0.026 |
|
Profit/(Loss) After Tax |
|
0.562 |
0.026 |
|
|
|
|
|
|
Total Expenditure |
|
104.906 |
17.538 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.53
|
0.14 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.92
|
0.29 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.95
|
0.57 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58
|
0.41 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
28.65
|
71.00 |
10.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.83 |
1.08 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges Report as per Registry
|
Name of the company |
NORTH STAR TUBES PRIVATE LIMITED |
|
Presented By |
RAMESH JAIN |
|
1) Date and
description of instrument creating the change |
Agreement of cash
Credit dated 04.07.2005 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs.2.500 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
Stock and Book Debts |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 12.25
% |
|
5) Name and
Address and description of the person entitled to the charge. |
State Bank of
Hyderabad Commercial
Branch, Secunderabad, India |
|
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 |
U27107AP2005PTC045183 |
|
Name of the
company |
NORTH STAR TUBES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
117, Mittal Chambers, M.G. Road, Secunderabad - 500003, Andhra
Pradesh, India |
|
This form is for |
Modification of
charges |
|
Type of charge |
Simple mortgage |
|
Particular of
charge holder |
State Bank of
Hyderabad Small
Enterprises, Commercial Branch, R P Road, Secunderabad – 500003, Andhra
Pradesh, India |
|
Nature of
instrument creating charge |
Supplemental
agreement of way for increase of in the overall limit |
|
Date of
instrument Creating the charge |
19.05.2006 |
|
Amount secured by
the charge |
Rs.5.000 Millions
|
|
Brief description
of the instrument modifying the charge under section 135 |
At is Nerdraft by
Book Debtors Rate of interests 1.25% over PLR |
|
Particulars of
the property charged |
Book debts |
|
Particular of the
present modification |
Limits increased
loan 2.5 millions to 5.0 millions |
AS PER WEBSITE
Subject is a leading Representative of Manufacturers in
South India for various steel products. Their Head Office is in Secunderabad (A.P)
INDIA, and they are having 2 branch offices located at Bangalore and Chennai.
They work in close co-ordination with their clients to
deliver products that are in exact accordance to the specifications mentioned
by the clients.
ASSOCIATES
LOCATION:-
PUNE - pune@northstartubes.com
RAIPUR - raipur@northstartubes.com
MUMBAI - om@northstartubes.com
KOLKATA - mittal@northstartubes.com
KATHMANDU ( NEPAL ) - vishal@northstartubes.com
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.47.18 |
|
UK Pound |
1 |
Rs.75.05 |
|
Euro |
1 |
Rs.60.89 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
|
39 |
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 |
|