MIRA INFORM REPORT
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Report Date : |
14.04.2011 |
IDENTIFICATION DETAILS
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Name : |
SHREE M . L . CASTINGS PRIVATE LIMITED (w.e.f. 15.10.2003) |
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Formerly Known
As : |
R. M. Automobiles Private Limited |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.03.1995 |
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Com. Reg. No.: |
17 - 009646 |
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CIN No.: [Company Identification
No.] |
U51109RJ1995PTC009646 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JPRS03989G |
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PAN No.: [Permanent Account No.] |
AABCR8690R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
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C.I, C.S. and Maganese Steel Castings. |
RATING & COMMENTS
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MIRA’s Rating : |
B ( 28 ) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 50000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, Trade relations are fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 (General Details)
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Name : |
Rajkumar Jain |
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Designation : |
Accounting Manager |
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Contact No.: |
0141 – 2341085 |
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Date : |
02.04.2010 |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-141-2343480 |
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Fax No.: |
91-141-2340732 |
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E-Mail : |
shreemlcastings@hotmail.com |
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Website : |
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Location : |
Owned |
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Factory 1 : |
76 – A, Industrial Area, Jhotwara, Jaipur – 302018, |
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Tel. No.: |
91-141 – 2341085 / 2340732 / 2343480 |
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Fax No.: |
91-141 - 4022485 |
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E-Mail : |
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Area : |
4200 Sq. ft |
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Location : |
Owned |
DIRECTORS
As on 29.09.2010
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Name : |
Makhan lal Gupta |
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Designation : |
Chairman cum Managing Director |
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Address : |
A – 3 F, Sunder Path, |
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Date of Birth/Age : |
18.12.1948 |
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Qualification : |
B.com |
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Date of Appointment : |
08.03.1995 |
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Name : |
Himanshu Gupta |
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Designation : |
Director |
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Address : |
A – 3 F, Sunder Path, |
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Date of Birth/Age : |
11.12.1976 |
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Qualification : |
M B A |
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Date of Appointment : |
17.10.2001 |
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Name : |
Ashish Gupta |
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Designation : |
Additional Director |
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Address : |
A – 3 F, Sunder Path, |
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Date of Birth/Age : |
15.05.1982 |
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Qualification : |
B. Com |
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Date of Appointment : |
12.05.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
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Names of Shareholders |
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No. of Shares |
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M. L. Gupta |
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235000 |
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Himanshu Gupta |
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65000 |
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Ashish Gupta |
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80000 |
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Kusum Lata Gupta |
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250000 |
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M.L. Gupta ( HUF ) |
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40000 |
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Ajay Jain |
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10000 |
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Jolly Gupta |
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50000 |
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Symphone Commotrade Private Limited, |
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20000 |
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Bholenath Traders Private Limited, |
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10000 |
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Reality Merchants Private Limited, |
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20000 |
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Total |
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780000 |
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
C.I, C.S. and Maganese Steel Castings. |
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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 : |
End Users, Consumers Industries |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Kuldeep Kumar Gupta &
Company. |
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Address : |
209, |
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Tel. No.: |
91-141-2363936 |
CAPITAL STRUCTURE
As on 29.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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850000 |
Equity Shares |
Rs.10/- each |
8.500 Millions |
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As on 29.09.2010
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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780000 |
Equity Shares |
Rs.10/- each |
7.550
Millions |
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Note : - 780000 equity share of Rs.10 each out of which 730000 shares
fully called and paid up and Rs. 5 each called up and paid up on 50000 shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales ( 2010 - 11) : Rs.45.800 Million
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 |
7.550 |
7.300 |
8.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.451 |
0.000 |
0.000 |
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4] Subsidy |
0.514 |
0.514 |
0.480 |
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5] (Accumulated Losses) |
0.000 |
(0.712) |
(1.325) |
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NETWORTH |
12.515 |
7.102 |
7.155 |
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LOAN FUNDS |
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1] Secured Loans |
13.480 |
13.461 |
17.558 |
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2] Unsecured Loans |
3.817 |
2.455 |
7.601 |
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TOTAL BORROWING |
17.297 |
15.916 |
25.159 |
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DEFERRED TAX LIABILITIES |
1.982 |
1.753 |
1.501 |
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TOTAL |
31.794 |
24.771 |
33.815 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.358 |
18.930 |
18.951 |
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Capital work-in-progress |
0.000 |
0.031 |
0.000 |
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INVESTMENT |
2.523 |
1.216 |
1.204 |
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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 |
3.352
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3.600 |
6.143 |
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Sundry Debtors |
6.800
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4.550 |
16.374 |
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Cash & Bank Balances |
0.182
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0.280 |
0.162 |
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Other Current Assets |
0.180
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0.486 |
0.482 |
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Loans & Advances |
0.053
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0.204 |
0.140 |
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Total
Current Assets |
10.567
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9.120 |
23.301 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.600
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3.342 |
8.872 |
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Other Current Liabilities |
0.537
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0.573 |
0.792 |
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Provisions |
0.600
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0.718 |
0.109 |
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Total
Current Liabilities |
2.737
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4.633 |
9.773 |
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Net Current Assets |
7.830
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4.487 |
13.528 |
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MISCELLANEOUS EXPENSES |
0.083 |
0.107 |
0.132 |
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TOTAL |
31.794 |
24.771 |
33.815 |
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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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Turnover |
45.629 |
57.376 |
111.758 |
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Less |
TOTAL EXPENSES |
45.332 |
57.531 |
NA |
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PROFIT BEFORE
TAX (A) |
0.672 |
0.969 |
0.999 |
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Less |
TAX (B) |
0.259 |
0.356 |
NA |
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PROFIT AFTER
TAX (A-B) |
0.413 |
0.613 |
NA |
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Earnings Per
Share (Rs.) |
0.55 |
0.84 |
-- |
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Expected Sales ( 2010 - 11) : Rs.45.800 Million
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.47
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1.69 |
0.89 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.10
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3.45 |
2.36 |
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Return on Investment (ROI) (PBT/Networth) |
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0.05
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0.14 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.60
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2.89 |
4.88 |
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Current Ratio (Current Asset/Current Liability) |
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3.86
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1.97 |
2.38 |
LOCAL AGENCY FURTHER INFORMATION
Operation during
the year : -
During the period under review, the company started its operation and could
achieve the sales of Rs. 45.629 Millions and booked a profit of Rs. 0.672
Millions. Directors are hopefull in next years company would perform better.
Fixed Assets:
- Land
- Building
- Plant and Machinery
- Weighing Scale
- Moulding Boxes
- Patterns
- Car
- Scooter
- Computer
- Office Equipment
Form 8
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Corporate
identity number of the company |
U51109RJ1995PTC009646 |
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Name of the
company |
SHREE M . L . CASTINGS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
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This form is for |
Creation
of charge |
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Type of charge |
Movable Property Immovable
Property |
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Particular of
charge holder |
Small Industries Development Bank of India, SIDBI Tower, 15, Ashok
Marg Lucknow, Branch at 1 st floor, Umrao Complex, S.C.Road, Jaipur – 302001,
Rajasthan, India |
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Nature of
instrument creating charge |
Declaration and
Undertaking of mortgage by deposit of ttitle deeds dated 28.08.2009 |
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Date of
instrument Creating the charge |
28.08.2009 |
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Amount secured by
the charge |
Rs. 3.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Interest 9.75 %
p.a. with monthly rests, on the principal amount of the loan outstanding form
time to time, payable on 10 th day of each month in a calendar year. Terms of
Repayment : The loan be
repaid by the borrower to SIDBI in 60 monthly installments of Rs. 0.050
Millions each after a moratorium of 12 months from the date of first
disbursement of the loan. Margin : 52.29 % Extent and
Operation of the charge : 100 % to secure
all dues related to TL of Rs. 3.000 Millions by first charge in favour of
SIDBI of all the movables/ immovables properties of the borrower admeasuring
4120.40 sq. mtrs bearing Plot no. 76 –A RIICO Industrial Area, Jhotwara,
Jaipur. |
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Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of all
the borrower’s current assets subject to prior charges of the company’s
bankers both present and future situated at plot no. 76 – a, Jhotwara
Industrial Area, Jaipur. |
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Date of
instrument modifying the charge |
28.08.2009 |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.48 |
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1 |
Rs.72.36 |
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Euro |
1 |
Rs.64.42 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
28 |
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
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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 |
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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.