MIRA
INFORM REPORT
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Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
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Name : |
MALIWAL IMPEX PRIVATE LIMITED |
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Registered Office : |
Bhole Shiv Compound, Near Vadvali Chali Singarava, Taluka Dashroi,
Ahmedabad – 382 451, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
17.06.2002 |
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Com. Reg. No.: |
04-40870 |
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CIN No.: [Company
Identification No.] |
U27320GJ2002PTC040870 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMM02276B AHMM05881B |
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PAN No.: [Permanent
Account No.] |
AADCM1160H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Importer of Aluminium Extrusion Products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 330000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. Company can be considered normal for business dealings at usual trade
terms 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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Suresh Rathod |
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Designation : |
Accounts Manager |
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Contact No.: |
91-79-25622126 |
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Date : |
05.04.2011 |
LOCATIONS
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Registered Office/Factory : |
Bhole Shiv Compound, Near Vadvali Chali Singarava, Taluka Dashroi,
Ahmedabad – 382 451, |
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Tel. No.: |
91-79-22902126/ 27/ 25622126 |
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Mobile No.: |
91-9909991143 ( Mr. Ronak O. Maliwal) |
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Fax No.: |
91-79-22902128 / 25622130 |
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E-Mail : |
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Website : |
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Area : |
4500 Sq.ft. |
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Location : |
Owned |
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Administrative Office/ Factory : |
511/512, Shajanand Shopping Centre, Opposite Swami Narayan Temple,
Police Commissioner Road, Shahibad, Ahmedabad-380004, Gujarat, India |
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Tel. No.: |
91-79-25622126/ 27/ 22902126 |
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Fax No.: |
91-79-25622130/ 22902128 |
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Area : |
1000 sq.ft. (Owned) |
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Factory 3 : |
Maliwal Extrution, (A Division of Maliwal Impex Private Limited) Plot No. 640, Near |
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Tel No. : |
91-2764-292266 |
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Area : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
18, Manjit Co-Operative Sociaety, Opposite Gayatri |
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Date of Birth/ Age: |
19.01.1964 |
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Qualification: |
Graduate |
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Date of Appointment : |
17.06.2002 |
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DIN No.: |
01129509 |
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Name : |
Mr. Vishal O. Maliwal |
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Designation : |
Director |
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Address : |
18, Manjit Co-Operative Sociaety, Opposite Gayatri |
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Date of Birth/ Age: |
29.07.1987 |
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Qualification: |
Graduate |
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Date of Appointment : |
17.10.2005 |
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DIN No.: |
01733446 |
KEY EXECUTIVES
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Name : |
Mr. Divyaprakash Chechani |
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Designation : |
Key Executive |
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Name : |
Mr. Suresh Rathod |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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1218000 |
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Vishal Maliwal |
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60 |
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Magilal Maliwal |
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200 |
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Badamben Maliwal |
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200 |
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Manjuben Maliwal |
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200 |
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Nandlal Maliwal |
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27000 |
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Mukesh Maliwal |
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2000 |
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Madhu Maliwal |
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2000 |
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Prakash R. Shah |
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1920 |
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Chandrikaben Shah |
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200 |
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Suresh Rooplal Baheti |
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20 |
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Shivlal Rooplal Baheti |
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20 |
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Udaylal Kaliya |
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200 |
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Sampatlal Kaliya |
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200 |
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Rajesh U Kaliya |
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200 |
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Aruna R Kaliya |
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200 |
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Kailashchandra Kaliya |
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200 |
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Banwarilal Pasari |
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200 |
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Shakuntala Pasari |
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200 |
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Shankerlal Kumawat |
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200 |
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Suresh Rathore |
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200 |
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Ratansingh Rathore |
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200 |
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Pinky Rathore |
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20 |
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Harpalsingh J Vaghela |
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20 |
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D Kailash Satyanrayan Kabra |
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20 |
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Ram Gopal Maheshwari |
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20 |
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Kalyan Khatod |
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20 |
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Ashok Kakhani |
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245520 |
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Mukesh Kakhani |
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20 |
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Kanhyalal Jankilal Shah |
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20 |
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Mulchand Jankilal Shah |
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20 |
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Yaseen Mohamed Jamaluddin |
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298700 |
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Total |
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1798200 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
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Category |
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Percentage of Holding |
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Foreign holdings
(Foreign institutional investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or overseas corporate bodies of
others) |
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16.61 |
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Directors
or relatives of directors |
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83.39 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Aluminium Extrusion Products. |
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Products : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30-60-90 Days) |
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Purchasing : |
Cash and Credit ( 30-60-90 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End
Users and OEM’s ·
Kalyani Carpenter Special Stells Limited ·
Kalyani Steels Limited ·
Kalyani Hospet ·
Mukund Limited ·
Facor Steel Limited ·
Jindal Vijaynagar Steels Limited ·
Shah Alloys Limited ·
Sudarshan Chemicals and Industry Limited |
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No. of Employees : |
Approximately 300 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Nidhi Banwarilal Pasari Chartered Accountant |
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Address : |
A-8, 4th Floor, Sanskar Residency, Opposite C U Shah
College, Income Tax, Ashram Road, Ahmedabad-380013, Gujarat, India |
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Associates: |
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CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1798200 |
Equity Shares |
Rs.10/- each
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Rs. 17.982
Millions |
Note:
Of the above 899100 Equity Shares (P.Y. Nil)
of Rs. 10/- each have been issued as fully paid-up bonus shares by
capitalization or Reserves during the current year.)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
17.982 |
8.991 |
8.991 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
65.471 |
74.389 |
70.658 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
83.453 |
83.380 |
79.649 |
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LOAN FUNDS |
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1] Secured Loans |
214.611 |
139.916 |
105.031 |
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2] Unsecured Loans |
33.308 |
31.579 |
22.259 |
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TOTAL BORROWING |
247.919 |
171.495 |
127.290 |
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DEFERRED TAX LIABILITIES |
0.178 |
0.343 |
0.067 |
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TOTAL |
331.550 |
255.218 |
207.006 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.803 |
24.219 |
4.137 |
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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 |
127.042
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32.366
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30.225
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Sundry Debtors |
267.838
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212.981
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153.306
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Cash & Bank Balances |
28.197
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29.935
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46.689
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Other Current Assets |
0.000
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0.000
|
0.108
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Loans & Advances |
23.054
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33.591
|
15.546
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Total
Current Assets |
446.132
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308.873
|
245.874
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
106.569
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69.638
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31.791
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Other Current Liabilities |
31.018
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7.932
|
9.468
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Provisions |
0.000
|
0.407
|
1.893
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Total
Current Liabilities |
137.587
|
77.977
|
43.152
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Net Current Assets |
308.545
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230.896
|
202.722
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MISCELLANEOUS EXPENSES |
0.202 |
0.103 |
0.147 |
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TOTAL |
331.550 |
255.218 |
207.006 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
1030.861 |
585.149 |
585.228 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL (A) |
1030.861 |
585.149 |
585.228 |
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Less |
EXPENSES |
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Material Cost |
991.462 |
534.024 |
521.266 |
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Direct and Manufacturing Expenses |
25.200 |
31.534 |
35.088 |
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Administrative, Selling and Other Expenses |
16.473 |
6.988 |
6.783 |
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Preliminary and Pre-Operative Expenses w/o |
0.078 |
0.043 |
0.043 |
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Increase/(Decrease) in Finished Goods |
[23.951] |
[4.382] |
[1.701] |
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TOTAL (B) |
1009.262 |
568.207 |
561.479 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.599 |
16.942 |
23.749 |
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Less |
FINANCIAL
EXPENSES (D) |
19.412 |
10.309 |
17.664 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.187 |
6.633 |
6.085 |
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Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
2.054 |
1.000 |
0.529 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.133 |
5.633 |
5.556 |
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Less |
TAX (H) |
0.061 |
1.902 |
2.037 |
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PROFIT AFTER TAX
(G-H) (I) |
0.072 |
3.731 |
3.519 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
11.843 |
8.112 |
4.593 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
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Dividend |
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Tax on Dividend |
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BALANCE CARRIED
TO THE B/S |
11.915 |
11.843 |
8.112 |
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IMPORTS |
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Import Value |
NA |
369.547 |
195.735 |
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TOTAL IMPORTS |
NA |
369.547 |
195.735 |
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Basic/ Diluted
Earnings Per Share (Rs.) |
0.04 |
4.15 |
3.91 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.01
|
0.64
|
0.60
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Net Profit Margin (PBT/Sales) |
(%) |
0.01
|
0.96
|
0.95
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.03
|
1.69
|
2.22
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Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.07
|
0.07
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Debt Equity Ratio (Total Liability/Networth) |
|
4.62
|
2.99
|
2.14
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Current Ratio (Current Asset/Current Liability) |
|
3.24
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3.96
|
5.70
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LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors |
106.569 |
69.638 |
31.791 |
Trade References:
·
Shah Alloys Limited
·
Facor Steel Limited
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2010 Rs.
in Millions |
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Custom Matters |
0.140 |
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Other Claim against the company not acknowledged as debts |
0.000 |
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Total |
0.140 |
Bankers Charges
Report as per Registry
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Corporate
identity number of the company |
U27320GJ2002PTC040870 |
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Name of the
company |
MALIWAL IMPEX PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Bhole Shiv Compound, Near Vadvali Chali Singarava, Taluka Dashroi,
Ahmedabad – 382 451, |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
10094455 |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
Bank of |
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Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation executed by the company to secure the revised and
restructured fund based and non fund based credit facilities aggregating Rs.
245.000 Millions |
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Date of
instrument Creating the charge |
09.08.2010 |
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Amount secured by
the charge |
Rs. 245.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC- 4.50% ABV
BPLR Pres at 12.50% p.a. ADHOC CC- 5.50%
ABV Base Rate Presently 13.50% p.a. L/C DP/ DA (l/f) /
Buyers’ CRD/GUA-50% of Appl Charges Terms of
Repayment CC STK/ BK DTS-
On Demand / Annaul Review ADHOC CC - Stock
And Bk Dts - On Demand / Repayable On Or Before 85 Days L/C DP/DA (I/F) /
BUYERS' CRD / GUA - On Demand/ Annaul Review Margin CC STOCKS - 25%
Cc Book Debts - 40% ADHOC CC STOCKS -
25% Cc Book Debts - 40% LC DP/DA (I/F) 90
days - 20% BUYER'S CREDIT -
20% GUA - 20% Extent and
Operation of the charge First and
Exclusive hypothecation charge on all the tangible movable properties being plant
and machineries, stocks, book debts and other movable assets of the company
to secure the modified, revises and increased fund based and non fund based
aggregate credit facilities of Rs. 245.000 Million alongwith interest,
additional interest, commission, cost, charges and all such other amount due
to the bank from time to time of what so ever nature Others (Rs. In Millions)
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Short particulars
of the property charged |
All Tangible movable machinery installed or not and whether
lying loose or in cases at factory premises/ godowns at Singarva District AHD
and Kadi District Mehsna, Rakanpur Taluka Kalol District Gangr. All stocks of raw
material Scrap, Finished / Semi Finished goods like aluminium ingots, Slots,
Sheets etc and stocks in process situated at Company’s factory godown at Singarva District AHD and Kadi District
Mehsna, Rakanpur Ta Kalo District Gnr All present and
future book debts outstanding money
receivables, claims, bills |
FIXED ASSETS:
- Plant and
Machinery
- Furniture and
Fixtures
- Computer
- Vehicles
- Land
- Motor Car
- Office
Equipments
WEBSITE DETAILS:
INTRODUCTION
Subject is a
reliable name in the field of Alloys and Metals manufacturing technologies.
They provide outstanding, marvelous and breathtaking quality and highly
oriented in Commercial Grade Aluminum
Ingots, Aluminum Notch Bar, Aluminum Shots, Aluminum Powder and Alloys
manufacturing industries. With the victorious contribution of Company’s Managing Director Mr. Om Prakash
Maliwal and their specialized lineup the company started rising promptly
with their determination and force. At present the company has totally been
paying attention in developing worldwide intercontinental as well as domestic
markets by making tie-ups, collaborations and
widespread corporation which would spotlight them exclusively
CORPORATE OVERVIEW
Company’s Managing Director Mr. Om Prakash Maliwal is having
20 years of experience in the Metal Market. Company procuring Raw Material from
international market and processing the same. They are importing the raw
material like Aluminum Scrap, Zinc, Mix Copper, Brass etc. around the
world. They have manufacturing facility at Singarva Nr.Ahmedabad which is
the commercial hub of
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 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.44.45 |
|
|
1 |
Rs.71.59 |
|
Euro |
1 |
Rs.63.01 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.