MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PREMIER INGOTS AND METALS PRIVATE LIMITED |
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Registered Office : |
Saru Nagar, Kanker Khera, Sardhana Road, Meerut – 250001, Uttar
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.05.1998 |
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Com. Reg. No.: |
20-23446 |
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CIN No.: [Company
Identification No.] |
U51101UP1998PTC023446 |
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IEC No.: |
0598039775 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTP00235E |
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PAN No.: [Permanent
Account No.] |
AABCP4642B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Non Ferrous Metals and Copper Alloys |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 22000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject is an establish company having moderate track. Profit margin
is low. Payments are slow by average 30 days. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Manish Jain |
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Designation : |
Director |
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Contact No.: |
91-9719013821 |
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Date : |
14.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
Saru Nagar, Kanker Khera, Sardhana Road, Meerut – 250001, Uttar
Pradesh, India |
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Tel. No.: |
91-121-2555528 |
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Mobile No.: |
91-9719016821/ 9719013821 |
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Fax No.: |
91-121-2555053 |
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E-Mail : |
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Website : |
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Area : |
1400 sq. yrds |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Manish Jain |
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Designation : |
Director |
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Address : |
101/2, Prabhat Nagar, Meerut – 250001, Uttar Pradesh, India |
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Date of Birth/Age : |
16.10.1967 |
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Qualification : |
B. Com |
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Date of Appointment : |
13.05.1998 |
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Name : |
Mr. Rajneesh Jain |
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Designation : |
Director |
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Address : |
101/2, Prabhat Nagar, Meerut – 250001, Uttar Pradesh, India |
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Date of Birth/Age : |
16.10.1967 |
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Qualification : |
B. Com |
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Date of Appointment : |
13.05.1998 |
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Name : |
Mrs. Manju Jain |
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Designation : |
Director |
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Address : |
101/2, Prabhat Nagar, Meerut – 250001, Uttar Pradesh, India |
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Date of Birth/Age : |
07.08.1944 |
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Date of Appointment : |
03.11.2006 |
KEY EXECUTIVES
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Name : |
Ramit Rastogi and Associates |
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Designation : |
Company Secretary |
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Address : |
B-88, First Floor, Defence Colony, Ring Road, New Delhi – 110024,
India |
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Tel No.: |
91-11-41555758 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Manish Jain |
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59200 |
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Rajneesh Jain |
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55000 |
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Manju Jain |
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25800 |
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Ganga Agarwal |
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30000 |
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Naresh Agarwal |
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30000 |
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Total |
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200000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Non Ferrous Metals and Copper Alloys |
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Products : |
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Exports : |
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Products : |
High Quality of Non-Ferrous Metal Alloys |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
OEM’s, Dealer
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Suppliers : |
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No. of Employees : |
50 |
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Bankers : |
Begam Bridge, Meerut – 250001, Uttar Pradesh, India
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Harish Chandra and Associates Chartered Accountant |
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Address : |
2nd Floor, Deep Complex, Begum Bridge, Meerut – 250001,
India |
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Tel No.: |
91-121-2646425/ 4023417 |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
2.000 |
2.000 |
2.000 |
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2] Share Application Money |
1.800 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.608 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.558) |
(0.535) |
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NETWORTH |
4.408 |
1.442 |
1.465 |
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LOAN FUNDS |
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1] Secured Loans |
6.603 |
4.721 |
3.560 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6.603 |
4.721 |
3.560 |
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DEFERRED TAX LIABILITIES |
0.373 |
0.373 |
0.373 |
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TOTAL |
11.384 |
6.536 |
5.398 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.863 |
3.721 |
3.659 |
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Capital work-in-progress |
0.000 |
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 |
2.996
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2.753 |
0.352 |
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Sundry Debtors |
6.121
|
1.385 |
2.196 |
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Cash & Bank Balances |
0.638
|
0.158 |
0.891 |
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Other Current Assets |
0.064
|
0.117 |
0.109 |
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Loans & Advances |
0.062
|
0.062 |
0.048 |
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Total
Current Assets |
9.881
|
4.475 |
3.596 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.097
|
1.498 |
1.690 |
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Provisions |
0.265
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0.165 |
0.172 |
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Total
Current Liabilities |
3.362
|
1.663 |
1.862 |
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Net Current Assets |
6.519
|
2.812 |
1.734 |
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MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.005 |
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TOTAL |
11.384 |
6.536 |
5.398 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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62.295 |
21.275 |
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Other Income |
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0.729 |
0.161 |
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Total Income |
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63.024 |
21.436 |
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Profit/(Loss) Before Tax |
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1.724 |
0.004 |
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Provision for Taxation |
|
0.134 |
(0.019) |
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Profit/(Loss) After Tax |
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1.587 |
(0.023) |
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Export Value |
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2.851 |
1.832 |
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Expenditures : |
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Financial Charge |
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0.654 |
0.588 |
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Depreciation & Amortization |
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0.576 |
0.316 |
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Other Expenditure |
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60.070 |
20.528 |
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Total Expenditure |
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61.300 |
21.432 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
2.52
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(0.11) |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
2.77
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0.02 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.69
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0.05 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.39
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0.00 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.26
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4.43 |
3.70 |
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Current Ratio (Current Asset/Current Liability) |
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2.94
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2.69 |
1.93 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Excise Registration No.: AABCP4642B XM 001 |
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VAT / TIN : 09376800955 |
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IEC Code : 0598039775 |
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PAN / TAN : AABCP4642B |
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Bank Name : Punjab
and Sind Bank |
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Bank Address : begam
Bridge, Meerut |
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Account Since : 15
years |
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In case of any affiliations / memberships / certifications
: |
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Name : ISO
9001:2000 by JAS – ANZ of ICDC, IIA, MMA, BME, IIW |
Trade Reference:
- Foseco India
Limited
- Alcobex
Metals Limited
- Multi Metals
Limited
- Hindustan
Copper Limited
Form 8:
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Corporate
identity number of the company |
U51101UP1998PTC023446 |
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Name of the
company |
PREMIER INGOTS AND METALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Saru Nagar, Kanker Khera, Sardhana Road, Meerut – 250001, Uttar
Pradesh, India |
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This form is for |
Modification of charge |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Punjab and Sind Bank Begam Bridge, Meerut – 250001, Uttar Pradesh, India |
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Nature of instrument
creating charge |
Hypothecation of
goods to secure a demand cash credit 20.11.1998 (Registered on 23.12.1998)
modifies on 19.07.2004 (Registered on 16.08.2004) further modifies 08.09.2005
(Registered on 07.10.2005) |
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Date of
instrument Creating the charge |
22.12.2006 |
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Amount secured by
the charge |
Rs.7.000 Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Interests @ BPLR
+ .50% i.e. 12.00% p.a. to be charged Terms of repayment: Repayable on
demand Margin: 50% Extent and
operation of the charge: Enhancement of
credit facilities i.e. enhancement of existing limit of Rs.4.800 Millions to
Rs.7.000 Millions as per deed of hypothecation of goods to secure a demand
cash credit dated 22.12.2006. |
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Particulars of
the property charged |
Hypothecation of
raw materials, stock in process and Stock of furnished goods of copper,
alloys and copper alloys and plant and machinery of the company lying at
factory site at Saru Nager, Sardhana Road, Kankar Khera, Meerut or anywhere
else. |
|
Particulars of
the present modification |
Existing limit of
Rs.4.800 Millions has been modifies with enhancement to Rs.7.000 Millions as
per deed of hypothecation of goods to secure a demand cash credit dated
22.12.2006. |
Website Details:
Profile:
Company is a private limited &
and an ISO certified company, has been successfully operating in the
non-ferrous metals and alloys industry, for over five decades. With the
extensive manufacturing and export experience, the company has built
capabilities to serve distinct industrial units.
Moreover, sophisticated infrastructure, having high-tech machinery and testing
equipment installed therein, and skilled manpower together form the primal
strength of their organization. The expertise in the sector and resources has
manifested a reckoned epitome for our company across different countries and
has garnered the trust of the major players in the industry, viz. BHEL, Jindal
Steel, Escorts Group, Usha Sriram Group and SAIL
Business Objective:
- To synchronize the manufacturing & R&D techniques with the international industrial levels.
- To establish rapid and efficient communication with all their clients.
- To build long-term and steady strategic alliances, based on equality and mutual benefit, with their clients.
Manufacturing Unit:
The company has been successfully
operating in the non-ferrous metals and ingots industry for more than 50 years
. Credible to this, advanced manufacturing set and distinct sections for
carrying out the production process are built in their unit. Moreover,
sophisticated machinery and testing equipment are installed therein for
manufacturing Resistance Welding Products and copper based alloys.
Continual R&D is conducted in their unit to ensure newer products are
regularly introduced, which precisely serves to the industrial demands.
Distinct machinery installed in their unit include:
- Forging Hammer
- Hydraulic Tilting Furnaces
- Electric Heat Treatment Furnaces with accurate temperature
Controllers
- Draw Benches
- Rod Strengthening Machines
- Hydraulic press for cold forming
- Capstan lathes, power hexas, Suoning Machine
- Drilling Machines
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.48.86 |
|
UK Pound |
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.65.51 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
40 |
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 |
|