MIRA
INFORM REPORT
|
Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
|
Name : |
CAMCO MULTI METAL LIMITED |
|
|
|
|
Formerly Known As : |
CENTURY NF CASTINGS LIMITED |
|
|
|
|
Registered Office : |
Sunder Lal Jain Charitable |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2009 |
|
|
|
|
Date of Incorporation : |
24.05.2001 |
|
|
|
|
Com. Reg. No.: |
55-110969 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27320DL2001PLC110969 |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business : |
Importer and Exporter of activity including Cargo
Description and Weight |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10940 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track records.
Trade relations are reported as fair. Business is active. Payments are reported
to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade term and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Sunder Lal Jain Charitable |
|
Tel. No.: |
91-11-23551613 |
|
Fax No.: |
91-11-23551613 |
|
E-Mail : |
|
|
|
|
|
Administrative Office: |
Plot No. 1, Sector 25, |
|
|
|
|
Head Office : |
Khasra No.72-16-1, Krishna Colony, Near Shree Ji Dharamkanta, |
|
Tel. No.: |
91-129-3058000 |
DIRECTORS
AS ON 30.09.2008
|
Name : |
Mr. Madhab P Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
9, |
|
Date of Birth/Age : |
10.10.1939 |
|
Date of Appointment : |
29.03.2003 |
|
|
|
|
Name : |
Mr. Vikram Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
9, |
|
Date of Birth/Age : |
05.05.1965 |
|
Date of Appointment : |
30.11.2006 |
|
|
|
|
Name : |
Mr. Rajkamal Saraogi |
|
Designation : |
Director |
|
Address : |
First Floor, N-17A, |
|
Date of Birth/Age : |
24.06.1961 |
|
Date of Appointment : |
27.09.2006 |
|
Other Directorship : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2008
|
Names of Shareholders |
No. of Shares |
|
Century Aluminium Manufacturing Company Limited, |
50300 |
|
Shri Kailash Baheti |
100 |
|
Shri Parveen Kumar Maggu |
100 |
|
Shri Raj Kamal Saraogi |
100 |
|
Shri Vikram Jhunjhunwala |
100 |
|
Smt. Sita Devi Jhunjhunwala |
100 |
|
Smt. Moulshree Jhunjhunwala |
100 |
|
Shri. M P Jhunjhunwala |
100 |
|
Total |
51000 |
AS ON 30.09.2008
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer and Exporter of activity including Cargo
Description and Weight |
|
|
|
|
|
|
Products : |
Products
Description |
ITC Code |
|
Aluminium Scrap |
76020010 |
|
|
Silicon |
28046900 |
|
|
Zinc |
79012010 |
|
GENERAL INFORMATION
|
No. of Employees : |
150 |
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Bankers : |
Trishul 3rd Floor, Opposite Samartheshwar Temple Law,
Garden Ellibridge, Ahmedabad- 380006, Gujarat, India
|
||||||||||||||||||||
|
|
|
||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A L P S and Company Chartered Accountant |
|
Address : |
310, Todi Chambers, 2, Lal Bazar Street, Kolkata- 700001, West Bengal,
India |
|
Tel. No.: |
91-33-22305621 / 40051458 |
|
Pan No.: |
AADFK8188N |
|
|
|
|
Associate Concern: |
|
|
|
|
|
Holding Company : |
Century Aluminium Manufacturing Company Limited, CIN No.: U27106WB1974PLCo29718 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Share |
Rs.10/- Each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000 |
Equity Share (Entire Shares held by Holding Company M/s. Century Aluminium
Manufacturing Company Limited) |
Rs.10/- Each |
Rs.0.510
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.510 |
0.510 |
0.510 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.225 |
0.258 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.259) |
|
|
NETWORTH |
2.735 |
0.768 |
0.251 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
44.304 |
4.620 |
0.000 |
|
|
2] Unsecured Loans |
31.500 |
0.507 |
0.000 |
|
|
TOTAL BORROWING |
75.804 |
5.127 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
78.539 |
5.895 |
0.251 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.034 |
0.007 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.014 |
0.000 |
0.143 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
11.728
|
0.000 |
|
|
Sundry Debtors |
15.906
|
10.261
|
0.000 |
|
|
Cash & Bank Balances |
9.117
|
6.012
|
0.127 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
65.234
|
33.090
|
0.000 |
|
Total
Current Assets |
90.257
|
61.091
|
0.127 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.692
|
55.058
|
0.019 |
|
|
Current Liabilities |
1.103
|
0.019
|
0.000 |
|
|
Provisions |
0.971
|
0.126
|
0.000 |
|
Total
Current Liabilities |
11.766
|
55.203
|
0.019 |
|
|
Net Current Assets |
78.491
|
5.888
|
0.108 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
78.539 |
5.895 |
0.251 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1230.339 |
116.517 |
0.000 |
|
|
|
Other Income |
0.287 |
0.064 |
0.010 |
|
|
|
TOTAL (A) |
1230.626 |
116.581 |
0.010 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
1202.144 |
125.607 |
0.000 |
|
|
|
Administrative Expenses |
13.186 |
1.898 |
0.043 |
|
|
|
Increase/(Decrease) in Finished Goods |
11.730 |
(11.728) |
0.000 |
|
|
|
Other Expenses |
0.000 |
0.000 |
0.074 |
|
|
|
TOTAL (B) |
1227.060 |
115.777 |
0.117 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.566 |
0.804 |
(0.107) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.576 |
0.018 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.990 |
0.786 |
(0.107) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.0000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.990 |
0.786 |
(0.107) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.022 |
0.269 |
0.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.968 |
0.517 |
(0.072) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.257 |
(0.258) |
(0.187) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.225 |
0.257 |
(0.258) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1005.204 |
100.080 |
0.000 |
|
|
TOTAL IMPORTS |
1005.204 |
100.080 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.59 |
10.13 |
(1.40) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
0.15 |
0.40 |
(720.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.24 |
0.67 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.31 |
1.29 |
(85.04) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.09 |
1.02 |
(0.43) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
32.01 |
71.88 |
(0.08) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.67 |
1.11 |
(6.68) |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office of the company h as been shifted from Flat No-203,
Hemkunt Tower, 98 Nehru Place, New Delhi- 110019, India to the present address
w. e. f. 06.06.2006
OPERATIONS
The Company achieved turnover of Rs.1230.300 millions as against Rs. 116.500
millions in the previous year. It is expected to do better in coming years.
FIXED ASSETS:
- Furniture and
Fixture
- Computers
- Office
Equipment
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF :
Bank Guarantees outstanding Rs.0.600 million issued by the bank on
behalf of the Company and Buyer's Credit of Rs. 44.304 millions taken by the
Company against which Rs.3.450 millions was deposited with bank as margin
money.
Form 8
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U27320DL2001PLC110969 |
|
Name of the
company |
CAMCO MULTI METAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
Sunder Lal Jain Charitable |
|
Type of charge |
Book Debts Movable Property Other |
|
Particular of
charge holder |
CIN:
L65110GJ1993PLC020769
Trishul 3rd Floor, Opposite Samartheshwar Temple Law, Garden
Ellibridge, Ahmedabad- 380006, Gujarat, India E-Mail: form8.axisbank@gmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation of current assets |
|
Date of
instrument Creating the charge |
03.11.2008 |
|
Amount secured by
the charge |
Rs.80.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest LC-cash Margin 10%
commission/charge- as per sanction letter axizb/mc-1/del/ss dated 28.01.2008
and AxisB/MC-1/ del/ss/143A dated 11.08.2008 Bank guarantee / buyer’s credit-
50% of bank’s Standard rates- Performance / Financial – 2.5% p. a., 100% cash
margin – 50% of above rates, margin- 10%, 100% case margin in case of
disputed liabilities. Terms of Repayment As per deed of
hypothecation of current assets Margin LC-cash Margin
10% commission/charge- as per sanction letter axizb/mc-1/del/ss dated 28.01.2008
and AxisB/MC-1/ del/ss/143A dated 11.08.2008 Bank guarantee / buyer’s credit-
50% of bank’s Standard rates- Performance / Financial – 2.5% p. a., 100% cash
margin – 50% of above rates, margin- 10%, 100% case margin in case of
disputed liabilities. Extent and Operation of the charge Pari passu first
charge on the entire current assets of the company both present and future |
|
Short particulars
of the property charged |
Current assets of
the company (stock, debtors) maximum upto Rs.80.000 millions |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.46.02 |
|
|
1 |
Rs.73.21 |
|
Euro |
1 |
Rs.60.70 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.