MIRA
INFORM REPORT
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Report Date : |
25.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
AGRASHA ALLOYS TRADING PRIVATE LIMITED |
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Registered Office : |
333, Nav Vyapar Bhavan, 49, P D’Mellow Road, Masjid, Mumbai – 400 009,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
29.03.1988 |
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Com. Reg. No.: |
11-46791 |
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CIN No.: [Company
Identification No.] |
U27100MH1988PTC046791 |
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IEC No.: |
0305029690 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA25503C |
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PAN No.: [Permanent
Account No.] |
AAACA4331P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Buyer and Importer of Aluminium Copper Scrap Metal |
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 56000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established traders. Trade relations are fair. Payments
are reported as slow but correct. However, the company can be considered normal for business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. S K Gupta |
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Designation : |
Accountant |
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Contact No.: |
91-9821931059 |
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Date : |
25.09.2008 |
LOCATIONS
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Registered Office : |
333, Nav Vyapar Bhavan, 49, P D’Mellow Road, Masjid, Mumbai – 400 009,
Maharashtra, India |
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Tel. No.: |
91-22-23501212 |
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Mobile No.: |
91-9821023966 |
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Fax No.: |
91-22-23501210 |
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E-Mail : |
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Area : |
989 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Madhu Ramesh Agrawal |
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Designation : |
Director |
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Address : |
504, Rajkamal CHS, 2nd Hasnabad Lane, Santacruz (West),
Mumbai – 400 054, Maharashta, India |
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Date of Birth/Age : |
21.01.1954 |
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Qualification : |
B.Com. |
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Date of Appointment : |
29.03.1988 |
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Name : |
Mr. Jayesh Baburaja Shah |
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Designation : |
Director |
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Address : |
F-7, Venus Apartment, Dr. R G Thadani Marg, Worli, Mumbai – 400 018,
Maharashtra, India |
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Date of Birth/Age : |
04.08.1955 |
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Qualification : |
B.Com. |
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Date of Appointment : |
29.03.1988 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 28.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Madhukant Ramesh Agrawal |
2500 |
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Jayesh Baburaj Shah |
2500 |
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Nisha Madhukant Agrawal |
2500 |
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Hansa Jayesh Shah |
2500 |
|
Bhaskar Fund Management Limited |
15000 |
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Kirti Elector Systems Private Limited |
8000 |
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Total |
33000 |
List of Allotment (As on 16.03.2006)
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Names of Allottees |
No. of Shares |
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Artillegence Bio-innovations Limited |
10000 |
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Total |
10000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
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Bodies corporate |
91.77 |
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Directors or relatives of directors |
8.23 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Buyer and Importer of Aluminium Copper Scrap Metal |
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Terms : |
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Selling : |
L/C – 7 to 15 Days |
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Purchasing : |
L/C – Cash |
GENERAL
INFORMATION
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Customers : |
Traders |
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No. of Employees : |
20 |
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Bankers : |
·
Syndicate Bank 87, Atur House, Dr. Annie Besant Road,
Worli (South), Mumbai – 400 018, Maharashtra, India ·
Syndicate Bank G.001, Rajan House, A S Marathe Marg, Prabhadevi
– 400 025, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N R Agrawal and Company Chartered Accountants |
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Address : |
305-D, Cryatal Plaza, New Link Road, Andheri (West), Mumbai – 400 053,
Maharashtra, India |
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Tel. No.: |
91-22-66955552 |
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Associates/Subsidiaries : |
Agrasha Enterprises Address : 333 Nav Vyapar
Bhavan, Mumbai Line of Business
:
Iron and Steel Trader |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
121500 |
Equity Shares |
Rs.10/- each |
Rs.1.215
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
1.215 |
1.215 |
1.215 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.035 |
11.851 |
8.862 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.250 |
13.066 |
10.077 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
18.937 |
13.793 |
4.613 |
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TOTAL BORROWING |
18.937 |
13.793 |
4.613 |
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DEFERRED TAX LIABILITIES |
0.093 |
0.077 |
0.000 |
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TOTAL |
30.280 |
26.936 |
14.690 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.076 |
3.513 |
3.844 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.009 |
0.009 |
0.009 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.091 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
28.467
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3.790
|
0.268 |
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Sundry Debtors |
28.382
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22.163
|
10.569 |
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Cash & Bank Balances |
1.361
|
0.027
|
0.008 |
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Other Current Assets |
40.384
|
17.174
|
5.621 |
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Loans & Advances |
0.000
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0.000
|
0.000 |
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Total
Current Assets |
98.594
|
43.154
|
16.466 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
72.408
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14.018
|
4.443 |
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Provisions |
0.000
|
5.735
|
1.295 |
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Total
Current Liabilities |
72.408
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19.753
|
5.738 |
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Net Current Assets |
26.186
|
23.401
|
10.728 |
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MISCELLANEOUS EXPENSES |
0.009 |
0.013 |
0.018 |
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TOTAL |
30.280 |
26.936 |
14.690 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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581.195 |
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Other Income |
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1.655 |
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Total Income |
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582.850 |
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Profit/(Loss) Before Tax |
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9.521 |
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Provision for Taxation |
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3.158 |
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Profit/(Loss) After Tax |
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6.363 |
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Imports : |
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Purchase |
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58.049 |
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Total Imports |
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58.049 |
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Expenditures : |
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Cost of Goods Sold |
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Direct Expenses |
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17.063 |
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Administrative Expenses |
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5.344 |
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Interest |
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|
2.074 |
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Depreciation & Amortization |
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0.447 |
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Other Expenditure |
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548.401 |
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Total Expenditure |
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573.329 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
1.09
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.64
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
92.73
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.85
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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8.12
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2.57 |
1.03 |
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Current Ratio (Current Asset/Current Liability) |
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1.36
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2.18 |
2.87 |
LOCAL AGENCY
FURTHER INFORMATION
Note :
The Registered office of the company has been shifted from 211/212 Loha
Bhavan, 2nd Floor, P D Mello Road, Mumbai – 400 009, Maharashtra,
India to the present address w.e.f. 05.07.2005
Trade References
·
M/s. Mukund Limited
Belapur Road, Kalwe Dist.,
Thane
·
M/s. Mahindra Ugine Steel Company Limited
Tagdish Nagar, Khopol – 410
216
Form No. 8
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Corporate
identity number of the company |
U27100MH1988PTC046791 |
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Name of the
company |
AGRASHA ALLOYS TRADING PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
333, Nav Vyapar Bhavan, 49, P D’Mellow Road, Masjid, Mumbai – 400 009,
Maharashtra, India |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
Syndicate Bank G.001, Rajan House, A S Marathe Marg, Prabhadevi – 400 025,
Maharashtra, India |
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Nature of
instrument creating charge |
Supplementary Memorandum
of deposit of title deeds |
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Date of
instrument Creating the charge |
21.08.2007 |
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Amount secured by
the charge |
Rs.13.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Interest at the rate as may be communicated by the Bank from time to
time.
On Demand
As may be stipulated by Bank from time to time
The Company declares and confirms that in consideration of credit
limits of Rs.3.000 millions now advanced by the Bank to Tristar Oceanic
Services Private Limited (“the Borrower”) that all the property comprised in
the Memorandum dated 11.05.06 shall hereafter be a security for and be
charged with as well as the payment of the said sum of Rs.3.000 millions
together with interest, costs, charges, etc. |
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Particulars of
the property charged |
Immovable
property lying and situate at Units, bearing Nos. 333, 334 and 335 bearing Carpet
area No. 989 Sq. ft. on the third floor in building known as ‘Nav Vyapar
Bhavan’, on a plot of land bearing No. 49 situated in Bombay Port Trust “
Princess Dock Division” Elphinstone Estate, D’Mello Road, Mumbai – 400 009. |
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Particulars of
the present modification |
The mortgage
charge now stands increased from Rs.10.000 millions to Rs.13.000 millions in
favour of Syndicate Bank. |
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.45.83 |
|
UK Pound |
1 |
Rs.84.90 |
|
Euro |
1 |
Rs.67.26 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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 |
|
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 |
|