1. Summary Information
|
Country |
|
||
|
Company Name |
GOLDEN METAL
PRIVATE LIMITED |
Principal Name 1 |
Pukhraj C. Jain |
|
Status |
Moderate |
Principal Name 2 |
Seventi Kumar P. Jain |
|
Registration # |
-- |
||
|
Street Address |
52/A, |
||
|
Established Date |
02.02.2006 |
SIC Code |
-- |
|
Telephone# |
91-22-23882488/23854664/23890906 |
Business Style 1 |
Exporter of clamps, railway and industrial springs, |
|
Fax # |
91-22-23882488/23854664 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
58,400,000 |
Product Name 3 |
-- |
|
Shareholders |
Seventi P. Jain - 1600000 |
Banking |
Bank
of |
|
Public Limited Corp. |
-- |
Business Period |
04 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
B
(30) |
|
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 |
71,335,000 |
Current Liabilities |
27,707,000 |
|
Inventories |
31,320,000 |
Long-term Liabilities |
101,817,000
|
|
Fixed Assets |
5,015,000 |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
129,524,000 |
|
Invest& other Assets |
161,243,000 |
Retained Earnings |
80,989,000 |
|
|
|
Net Worth |
139,389,000 |
|
Total Assets |
268,913,000 |
Total Liab. & Equity |
268,913,000 |
|
Total Assets (Previous Year) |
162,479,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
157,959,000 |
Net Profit |
1,468,000 |
|
Sales(Previous yr) |
161,277,000 |
Net Profit(Prev.yr) |
2,650,000 |
MIRA INFORM REPORT
|
Report Date : |
16.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GOLDEN METAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
52/A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
02.02.2006 |
|
|
|
|
Com. Reg. No.: |
159445 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2006PTC159445 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG11475C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter of clamps, railway & industrial springs, stainless steel shims, sheets, strips, coils, foils, ready cut shims, industrial products |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 557556 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered 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 : |
52/A, |
|
Tel. No.: |
91-22-23882488/23854664/23890906 |
|
Fax No.: |
91-22-23882488/23854664/23890906 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Pukhraj C. Jain |
|
Designation : |
Director |
|
Address : |
Flat No. 15, 2nd Floor, 138lA Chanda Wadi, |
|
Date of Birth/Age : |
20.08.1942 |
|
Date of Appointment : |
02.02.2006 |
|
|
|
|
Name : |
Mr. Seventi Kumar P. Jain |
|
Designation : |
Director |
|
Address : |
Flat No. 15, 2nd Floor, 138lA, Chanda Wadi, |
|
Date of Birth/Age : |
03.12.1967 |
|
Date of Appointment : |
02.02.2006 |
|
|
|
|
Name : |
Mr. Vijay Kumar P. Jain |
|
Designation : |
Director |
|
Address : |
Flat No. 15, 2nd Floor, 138lA, Chanda Wadi, |
|
Date of Birth/Age : |
20.07.1975 |
|
Date of Appointment : |
02.02.2006 |
|
|
|
|
Name : |
Mr. Vimal Kumar P. Jain |
|
Designation : |
Director |
|
Address : |
138/A, Tabela Chawl, 2nd Floor Room No.5, Chandawadi,
Mumbai 400004 |
|
Date of Birth/Age : |
19.04.1980 |
|
Date of Appointment : |
02.02.2006 |
|
|
|
|
Name : |
Mr. Deepak Kumar P. Jain |
|
Designation : |
Director |
|
Address : |
138/A, Tabela Chawl, 2nd Floor Room No.5, Chandawadi, Mumbai 400004 |
|
Date of Birth/Age : |
04.09.1982 |
|
Date of Appointment : |
02.02.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pukhraj C. Jain |
|
600000 |
|
Seventi P. Jain |
|
1600000 |
|
Vijay P. Jain |
|
845000 |
|
Vimal P. Jain |
|
415000 |
|
Deepak P. Jain |
|
500000 |
|
Meena S. Jain |
|
370000 |
|
Vimala V. Jain |
|
320000 |
|
Pukhraj C. Jain (HUF) |
|
150000 |
|
Hemlata V. Jain |
|
200000 |
|
Opulent Trading and Investment Private Limited |
|
840000 |
|
Total |
|
5840000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
14.38 |
|
Directors or relatives of Directors |
85.62 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of clamps, railway & industrial springs, stainless
steel shims, sheets, strips, coils, foils, ready cut shims, industrial
products |
GENERAL INFORMATION
|
Bankers : |
Bank of |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N M Surana and Company Chartered Accountant |
|
Address : |
|
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5840000 |
Equity Shares |
Rs.10/- each |
Rs.58.400
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 |
58.400 |
5.000 |
5.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
80.989 |
3.922 |
2.121 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
139.389 |
8.922 |
7.121 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
82.892 |
0.000 |
0.265 |
|
|
2] Unsecured Loans |
18.925 |
56.722 |
18.789 |
|
|
TOTAL BORROWING |
101.817 |
56.722 |
19.054 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
241.206 |
65.644 |
26.175 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.015 |
0.761 |
4.375 |
|
|
Capital work-in-progress |
161.057 |
136.086 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.320
|
32.226 |
51.341 |
|
|
Sundry Debtors |
38.213
|
34.199 |
53.355 |
|
|
Cash & Bank Balances |
4.152
|
1.896 |
3.026 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
28.970
|
17.116 |
14.477 |
|
Total
Current Assets |
102.655
|
85.437 |
122.199 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
26.519
|
94.863 |
50.047 |
|
|
Other Current Liabilities |
0.390
|
1.972 |
5.275 |
|
|
Provisions |
0.798
|
0.000 |
0.165 |
|
Total
Current Liabilities |
27.707
|
96.835 |
55.487 |
|
|
Net Current Assets |
74.948
|
(11.396) |
66.712 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.186 |
0.193 |
0.088 |
|
|
|
|
|
|
|
|
TOTAL |
241.206 |
65.644 |
26.175 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
157.959 |
161.277 |
228.313 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
155.693 |
158.627 |
226.498 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.266 |
2.650 |
1.815 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.798 |
0.850 |
0.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.468 |
1.800 |
1.215 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.922 |
2.121 |
0.906 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.389 |
3.922 |
2.121 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.51 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.93
|
1.12 |
0.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.10
|
3.07 |
1.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.29 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93
|
17.21 |
10.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.70
|
0.88 |
2.20 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION:
During the financial year the performance of the Company was satisfactory. The sales of the Company during the year amounted to Rs.158.258 Millions. The Company reported profit before tax as Rs.2.265 Millions. The profit after tax amounted to Rs.1.468 Millions
ALLOTMENT OF SHARES:
During the year, the Company has allotted 53.40 Lacs equity
shares in the Board Meeting held on 26th May 2009, 5th
August 2009 and 18th March 2010 to raise funds for its proposed
project to manufacture Stainless Steel Rolled Products, Strips, Patti, Coils at
Umergaon (
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51420MH2006PTC159445 |
|
Name of the
company |
GOLDEN METAL
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
52/A, |
|
Type of charge |
Book Debts Movable Property Immovable
Property Others |
|
Particular of
charge holder |
BANK OF |
|
Nature of
description of the instrument creating or modifying the charge |
1) Composite
Hypothecation Agreeemnt 2) Memorandum of
Entry of Depost of Title Deeds (Both The Above
Agreements Constitute A Single Charge) |
|
Date of
instrument Creating the charge |
09/06/2009 |
|
Amount secured by
the charge |
Rs.147.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan - @ 2.25 % Over Bplr Cash Credit - @ 1.50
% Over Bplr Or Such Other
Rate As Agreed Between The Borrower Company And The Bank From Time To Time. Penal Interest ,
As Agreed Between The Borrower Company And The Bank From Time To Time. Terms of
Repayment Repayment, As Agreed
Between The Borrower Company and The Bank From Time To Time. Margin Term Loan - @ 35
% Cash Credit - @
25 % On Stocks And 40 % On Book - Debts Extent and
Operation of the charge At The Request Of
The Borrower Company, The Bank Has Sanctioned Term Loan Of Rs.107.500
Millions And Working Capital - Cash Credit Limit Of Rs.40.000 Millions [Total
Banking Limits Of Rs.147.500 Millions] Against Hypothecation Of Stocks,
Book-Debts Etc, And Mortgage Of The Immoveable Property I. E Piece And Parcel
Of Agricultural Open Land At Dehri, Umbergaon, District : Valsad In The
Registration District Valsad As Sub District Pardi Bearing Khata No.
231. |
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 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.