1. Summary Information
|
Country |
|
||
|
Company Name |
AMAR TRADES
LIMITED |
Principal Name 1 |
Mr. Niharendu Basu |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Arun Kumar Ghosal |
|
Registration # |
-- |
||
|
Street Address |
27, Mirza Ghalib Street, 5th
Floor, Kolkata – 700016, West |
||
|
Established Date |
17.09.1983 |
SIC Code |
-- |
|
Telephone# |
91-33-22524216 |
Business Style 1 |
Manufacturer and Exporter |
|
Fax # |
91-33-22524251 |
Business Style 2 |
|
|
Homepage |
-- |
Product Name 1 |
Ferro Alloys, |
|
# of employees |
-- |
Product Name 2 |
Silicons, |
|
Paid up capital |
11,038,000 |
Product Name 3 |
Chromiums. |
|
Shareholders |
Dinesh Kapoor – 5540 Sadhana Kapoor - 1002 |
Banking |
Canara
Bank |
|
Public Limited Corp. |
-- |
Business Period |
27 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ba
(48) |
|
Related
Company |
|||
|
Relation
-- |
Country
-- |
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
120,123,000 |
Current Liabilities |
49,599,000 |
|
Inventories |
41,192,000 |
Long-term Liabilities |
33,044,000
|
|
Fixed Assets |
4,504,000 |
Other Liabilities |
-- |
|
Deferred Assets |
69,000 |
Total Liabilities |
82,643,000 |
|
Invest& other Assets |
6,463,000 |
Retained Earnings |
78,670,000 |
|
|
|
Net Worth |
89,708,000 |
|
Total Assets |
172,351,000 |
Total Liab. & Equity |
172,351,000 |
|
Total Assets (Previous Year) |
176,927,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
328,847,000 |
Net Profit |
3,215,000 |
|
Sales(Previous yr) |
545,928,000 |
Net Profit(Prev.yr) |
1,610,000 |
MIRA INFORM REPORT
|
Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
AMAR TRADES LIMITED |
|
|
|
|
Registered
Office : |
27, Mirza Ghalib
Street, 5th Floor, Kolkata – 700016, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
17.09.1983 |
|
|
|
|
Com. Reg. No.: |
21-36780 |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27209WB1983PLC036780 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALA05463D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCA1330M |
|
|
|
|
Legal Form : |
Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Ferro Alloys, Silicons, Chromiums. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 358832 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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. The 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
|
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/Factory : |
27, Mirza Ghalib
Street, 5th Floor, Kolkata – 700016, West |
|
Tel. No.: |
91-33-22524216 |
|
Fax No.: |
91-33-22524251 |
|
Email: |
DIRECTORS
AS ON 27.09.2010
|
Name : |
Mr. Niharendu Basu |
|
Designation : |
Whole Time Director |
|
Address : |
7A, Waverly Lane, Ground Floor, Kolkata - 700013, West |
|
Date of Birth/Age : |
07.01.1974 |
|
Date of Appointment : |
05.06.2002 |
|
|
|
|
Name : |
Mr. Arun Kumar Ghosal |
|
Designation : |
Whole Time Director |
|
Address : |
19/3, |
|
Date of Birth/Age : |
06.10.1950 |
|
Date of Appointment : |
05.06.2002 |
|
|
|
|
Name : |
Mr. Binav Pada Kumar |
|
Designation : |
Whole Time Director |
|
Address : |
5, |
|
Date of Appointment : |
01.09.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Kapoor |
|
5540 |
|
Bhaskar Sen |
|
125 |
|
Sadhana Kapoor |
|
1002 |
|
Arun Marvla |
|
10 |
|
Kanehan Naruna |
|
10 |
|
Karan Narvla |
|
02 |
|
Seema Narula |
|
10 |
|
Meena Narvla |
|
10 |
|
Rajat Kapoor |
|
19210 |
|
Gaurav Kapoor |
|
22170 |
|
Raghuraj Kapoor |
|
3000 |
|
Dinesh Kapoor HUF |
|
46385 |
|
Rajesh Kapoor HUF |
|
13050 |
|
Chirta Kapoor |
|
04 |
|
H D Alloys Private Limited, Kolkata |
|
10010 |
|
Benuranjan Bhattacharya |
|
3875 |
|
Jayendrabhai Haribhai Patel |
|
8500 |
|
S |
|
02 |
|
V S Krishnan |
|
174 |
|
Manoj Kumar Sonthalia |
|
02 |
|
Kmal Kumar Sonthalia |
|
02 |
|
Prafulla Phankawala |
|
02 |
|
Sudha Ahluwalia |
|
125 |
|
S |
|
125 |
|
G L |
|
150 |
|
Pramode Kapoor |
|
112 |
|
Satya Sharva |
|
250 |
|
Sushila Devi Kapoor |
|
250 |
|
Ail Budhiraj |
|
250 |
|
Ranjan Moudgil |
|
125 |
|
Amita Moudgil |
|
125 |
|
Bela Sethi |
|
125 |
|
Harinder Bhimbhat |
|
125 |
|
Swareha Khera |
|
125 |
|
Asha Walia |
|
250 |
|
G |
|
250 |
|
Phani Chakravati |
|
125 |
|
Pramode Rana |
|
1350 |
|
|
|
47 |
|
Madan Lal Kapoor |
|
20000 |
|
Trilok Nath Kapoor |
|
20000 |
|
Kanta Devi Khatter |
|
2500 |
|
Tarkeshwar Singh |
|
2375 |
|
Kirti S Modi |
|
02 |
|
Piyus K Modi |
|
02 |
|
Rakesh Kapoor |
|
10 |
|
Monolisha Management Private Limited, Kolkata |
|
420109 |
|
Tejinder Pal Kaur |
|
414213 |
|
Jatinder S Malia |
|
13503 |
|
Surendra Nath Tiwari |
|
39162 |
|
Madhvraj |
|
12255 |
AS ON 27.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ferro Alloys, Silicons,
Chromiums. |
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chopra and Company Chartered Accountant |
|
Address : |
133, |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1103839 |
Equity Shares |
Rs.10/- each |
Rs.11.038
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
11.038 |
11.038 |
8.088 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
78.670 |
75.455 |
47.294 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
89.708 |
86.493 |
55.382 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
33.044 |
48.351 |
42.999 |
|
|
TOTAL BORROWING |
33.044 |
48.351 |
42.999 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.012 |
|
|
|
|
|
|
|
|
TOTAL |
122.752 |
134.844 |
98.393 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.504 |
4.304 |
4.359 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.463 |
6.463 |
6.462 |
|
|
DEFERREX TAX ASSETS |
0.069 |
0.022 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
41.192
|
27.965 |
73.926 |
|
|
Sundry Debtors |
76.108
|
82.238 |
76.085 |
|
|
Cash & Bank Balances |
6.427
|
6.604 |
5.119 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
37.588
|
49.331 |
33.071 |
|
Total
Current Assets |
161.315
|
166.138 |
188.201 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.291
|
5.080 |
23.250 |
|
|
Other Current Liabilities |
36.769
|
32.003 |
73.162 |
|
|
Provisions |
4.539
|
5.000 |
4.217 |
|
Total
Current Liabilities |
49.599
|
42.083 |
100.629 |
|
|
Net Current Assets |
111.716
|
124.055 |
87.572 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
122.752 |
134.844 |
98.393 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
328.847 |
545.928 |
452.412 |
|
|
|
Other Income |
4.130 |
5.190 |
5.078 |
|
|
|
TOTAL (A) |
332.977 |
551.118 |
457.490 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material |
294.233 |
493.371 |
421.233 |
|
|
|
Power and Fuel |
6.273 |
8.169 |
9.273 |
|
|
|
Process Charges |
6.052 |
0.414 |
0.000 |
|
|
|
Employment Expenses |
3.049 |
2.574 |
3.122 |
|
|
|
Administrative Expenses |
21.235 |
14.227 |
13.732 |
|
|
|
Increased / (Decreased) In Stock |
(8.438) |
17.132 |
(4.542) |
|
|
|
TOTAL (B) |
322.404 |
535.887 |
442.818 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.573 |
15.231 |
14.672 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
5.847 |
12.261 |
7.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.726 |
2.970 |
7.399 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.719 |
0.515 |
0.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.007 |
2.455 |
6.939 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.792 |
0.845 |
2.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3.215 |
1.610 |
4.497 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.250 |
15.640 |
11.143 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
20.465 |
17.250 |
15.640 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.100 |
2.157 |
1.704 |
|
|
TOTAL EARNINGS |
0.100 |
2.157 |
1.704 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
159.403 |
296.525 |
256.282 |
|
|
TOTAL IMPORTS |
159.403 |
296.525 |
256.282 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.91 |
41.46 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.97
|
0.29 |
0.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.22
|
0.45 |
1.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.42
|
1.44 |
3.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.03 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92
|
1.05 |
2.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.25
|
3.94 |
1.87 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U27209WB1983PLC036780 |
|
Name of the
company |
AMAR TRADES LTD |
|
Address of the registered
office or of the principal place of
business in |
27, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property Movable Property |
|
Particular of
charge holder |
CANARA BANK |
|
Nature of
instrument creating charge |
Agreement to be
obtained for CDB/SDB/BE/Advances dated 24.08.2009 Agreement Re:
Collateral security: Machinery: Vehicles dated 24.08.2009 Pronote dated
24.08.2009 Letter of
Evidencing Deposit of Title Deeds for additional limits dated 24.08.09 Board Resolution
dated 09.01.2009 |
|
Date of
instrument Creating the charge |
24/08/2009 |
|
Amount secured by
the charge |
Rs.80.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest OCC/ODBD -
BPLR+0.50% i.e. 12.50% p.a. (presently) with monthly rests. BE-SE(L/C) - 9.75% p.a. (presently) Floating with
monthly rests. Terms of
Repayment Repayment on
demand for working capital facilities. Margin OCC/ODBD - Stock
25% , Book debts 35 % BE-SE(L/C) - Nil Extent and
Operation of the charge To the extent of
the overall limit of Rs.80.000 Millions together with interest and other
charges. The charge will be operated till the limit enjoyed by the borrower
company is fully repaid. |
|
Short particulars
of the property charged |
Hypothecation by
way of first charge on entire current assets of Stock and receivable of the
borrower, both present and future. Extension of hypothecation Plant and
Machinery including Lab equipment, pollution control equipments etc. and
other movable properties of the Company, both present and future. By way of
first charge on extension of existing EMT of Land and Factory Building in the
name of the company at plot No. 377, 380 and 381 Vill. Khamar, P.O. Rajarhat,
Bishnupur, Kolkata - 700 135. 7 Deeds |
|
Date of
instrument modifying the charge |
25/06/2008 |
|
Particulars of
the present modification |
By this modification
the overall limit has been enhanced from Rs.50.000 Millions to Rs.80.000
Millions The break up is like this:- OCC/ODBD -
Rs.50.000 Millions(existing) ODBD(Sub-limit) -
(Rs.20.000 Millions)(existing) BE-SE(L/C) - Rs.30.000 Millions (fresh) |
FIXED ASSETS:
- Land
- Air Conditioner
- Cellular Phone
- Computer Machine
- Electric Typewriter
- Fax Machine
- Furniture and Fixtures
- Laboratory Equipments
- Office Equipment
- Plant and Machinery
- Scooter
- Vehicle
- Weight Machine
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.44.52 |
|
|
1 |
Rs.72.71 |
|
Euro |
1 |
Rs.64.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.