MIRA
INFORM REPORT
|
Report Date : |
29.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SURYADEV ALLOYS AND POWER PRIVATE LIMITED |
|
|
|
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Registered Office : |
No. 2 and 4th Floor, Golden Enclave, 184, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
26.05.2006 |
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Com. Reg. No.: |
18-059997 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.110.738
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29141TN2006PTC059997 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHES27192E |
|
|
|
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PAN No.: [Permanent
Account No.] |
AAKCS1246B |
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|
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Steel Products |
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No. of employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3124484 |
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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 fair. Business is active. Payments are reported usually correct and as per commitments. The company can be considered for normal 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 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
No. 2 and 4th Floor, Golden Enclave, 184, |
|
Tel. No.: |
91-44-42221000 / 42153310 |
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Fax No.: |
91-44-42221029 |
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E-Mail : |
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Marketing Office : |
7, “Gloden Enclave”, 3rd Floor, 184, |
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Tel. No.: |
91-44-42221000 (25 Lines) |
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Fax No.: |
91-44-42221026 |
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E-Mail : |
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Website : |
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Factory : |
S. No. 298/2, New Gummidipoondi, Gummidipoondi Taluk, Tiruvallur
District, Tamilnadu-601201, |
|
Tel. No.: |
91-44-27921454 |
|
Fax No.: |
91-44-27921425 |
DIRECTORS
|
Name : |
Mr. Mukesh Agarwal |
|
Designation : |
Managing Director |
|
Address : |
Old No. 638C, New No. 480, |
|
Date of Appointment : |
26.05.2006 |
|
Din No.: |
01122858 |
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|
|
|
Name : |
Mr. Pankaj Agarwal |
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Designation : |
Director |
|
Address : |
Old No. 638C, New No. 480, |
|
Date of Appointment : |
26.05.2006 |
|
Din No.: |
01357841 |
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|
|
|
Name : |
Mr. Vinod Bansal |
|
Designation : |
Director |
|
Address : |
Flat No. 1A, |
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Date of Birth/Age : |
28.12.1973 |
|
Date of Appointment : |
30.09.2009 |
|
Din No.: |
02299776 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 16.06.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Agarwal |
|
255000 |
|
Pankaj Agarwal |
|
255000 |
|
Al Saham Al Fadhi Metal Trading Limited, UAE |
|
312433 |
|
Paper Chase International Inc, UAE |
|
264082 |
|
Gulf recycling FZC, UAE |
|
264207 |
|
Buoysail TR EST, UAE |
|
44132 |
|
Buoy Chartering and Trading Limited, UAE |
|
132464 |
|
Umra Properties and Finance Private Limited, Kolkata |
|
2507000 |
|
Sourabh Venture Capital Trust, Balaji Fund, Kolkata |
|
130000 |
|
Ramavtar Agarwal |
|
247000 |
|
Bimla Devi |
|
361500 |
|
Ancient Buildwell Private Limited, |
|
25000 |
|
Ayush Manufacturer and Financier Private Limited, Kolkata |
|
275000 |
|
Beekay Knitwear Private Limited, |
|
25000 |
|
Chandalier Tracon Private Limited, Kolkata |
|
135000 |
|
Compact Finstock Private Limited, Kolkata |
|
90000 |
|
Contship Commodities Private Limited, Kolkata |
|
140000 |
|
Coromandel Marchants Private Limited, Kolkata |
|
25000 |
|
Cosmo Real Estate Private Limited, Kolkata |
|
25000 |
|
Echolac Vinimay Private Limited, Kolkata |
|
330000 |
|
Edynamics Solutions Private Limited, |
|
2301000 |
|
Elelgance Trade Hoardings Private Limited |
|
50000 |
|
Eligin Sales Promotion Private Limited, Kolkata |
|
247000 |
|
Everest Commerce Private Limited, Kolkata |
|
290000 |
|
Ferguson Consultants Private Limited, Kolkata |
|
90000 |
|
First Choice Buildwell Private Limited, |
|
50000 |
|
Good Morning BuildWell Private Limited, |
|
20000 |
|
Jindal Hirepurchase Private Limited, Kolkata |
|
25000 |
|
Kaithan Udyog Private Limited, Kolkata |
|
180000 |
|
Kamyabi Vanijya Private Limited, Kolkata |
|
158000 |
|
Manudhasan Distributor Private Limited, Kolkata |
|
35000 |
|
Mehandipura Tradelink Private Limited, Kolkata |
|
90000 |
|
MSV Fiscal Service Private Limited, Kolkata |
|
50000 |
|
Nagancheji Credit Private Limited, Kolkata |
|
255000 |
|
Nobel Consultancy Private Limited, Kolkata |
|
155000 |
|
Paarth Realtech Private Limited, |
|
195000 |
|
Panchsheel Buildwell Private Limited, |
|
25000 |
|
Puneet Buildcon Private Limited, |
|
25000 |
|
Real Time Buildwell Private Limited, |
|
25000 |
|
Real Value Buildwell Private Limited, |
|
25000 |
|
Silicon Buildwell Private Limited, |
|
20000 |
|
Sky Wide Marketing Limited, |
|
15000 |
|
Slow & Sound Electronics Private Limited, Kolkata |
|
250000 |
|
Suashish Capital Private Limited, Kolkata |
|
25000 |
|
Sugam Commodities Private Limited, Kolkata |
|
120000 |
|
True Wealth Consultants Private Limited, |
|
20000 |
|
Vighnhar Marketing Private Limited, Kolkata |
|
25000 |
|
Diamension Holding Private Limited, Kolkata |
|
165000 |
|
West Overseas Tradelink, Kolkata |
|
300000 |
|
Total |
|
11073818 |
Equity Share Breakup As On 16.06.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
4.60 |
|
Bodies corporate |
86.21 |
|
Directors or relatives of Directors |
9.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel Products |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
M.S. Billets |
|
M.T. |
210000 |
132102 |
|
QST ReBars |
|
M.T. |
204000 |
110412 |
GENERAL INFORMATION
|
Customers : |
¨
Military Engineering Services ¨
Tamilnadu Electricity Board ¨
National Thermal Power Corporation Limited ¨
Chennai Petroleum Corporation Limited ¨
Nuclear Power Corporation ¨
Airports Authority of India Limited ¨
National Highway Authority of ¨
¨
Indian Railways ¨
Public Works Department, Tamilnadu ¨
BSNL ¨
Tamilnadu Police Housing Corporation Limited ¨
National Highway Authority of ¨
¨
¨
ITD Cementation Limited ¨
Shapoorji Pallonji and Company Limited ¨
B.E. Billimoria and Company Limited ¨
Madhucon Projects Limited ¨
Patel-KNR JV ¨
Hiranandani Realtors Private Limited ¨
Marg Constructions Limited ¨
Prestige Estates and Projects Private Limited ¨
Sobha Developers Limited ¨
Puravankara Projects Limited ¨
¨
Srinivasa Shipping and Property Development
Limited ¨
BSCPL Infrastructure Limited ¨
SRR Projects Private Limited ¨
Velankani Technology Parks Private Limited ¨
SEW Infrastructure Limited ¨
Satyam Computer Limited (M. Arunachalam and
Company) ¨
True Value Homes ( ¨
¨
CEE ¨
Prince Foundation Limited ¨
Hanudev Infopark Private Limited ¨
Hallmark Infrastructure Private Limited ¨
Kishor Kumar Gokuldas ¨
Alliance Retreat Private Limited ¨
Vishranthi Constructions |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
1, |
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Tel. No.: |
91-44-42621416 |
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Fax No.: |
91-44-25384536 |
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E-Mail : |
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Associates : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11073818 |
Equity Shares |
Rs.10/- each |
Rs.110.738
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 |
110.738 |
89.888 |
67.198 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
715.763 |
528.113 |
323.903 |
|
|
4] (Accumulated Losses) |
(45.380) |
(360.640) |
0.000 |
|
|
NETWORTH |
781.121 |
257.361 |
391.101 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1900.041 |
1651.726 |
724.753 |
|
|
2] Unsecured Loans |
4.512 |
41.253 |
37.258 |
|
|
TOTAL BORROWING |
1904.553 |
1692.979 |
762.011 |
|
|
DEFERRED TAX LIABILITIES |
6.500 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2692.174 |
1950.340 |
1153.112 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1002.916 |
971.805 |
35.594 |
|
|
Capital work-in-progress |
33.228 |
16.871 |
836.460 |
|
|
|
|
|
|
|
|
INVESTMENT |
77.183 |
77.183 |
5.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1003.391
|
486.253
|
50.957 |
|
|
Sundry Debtors |
408.582
|
274.759
|
0.751 |
|
|
Cash & Bank Balances |
100.513
|
96.125
|
61.455 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
400.134
|
269.081
|
190.036 |
|
Total
Current Assets |
1912.620
|
1126.218
|
303.199 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
160.490
|
170.966
|
26.863 |
|
|
Other Liabilities |
125.783
|
70.557
|
0.490 |
|
|
Provisions |
47.500
|
0.214
|
0.158 |
|
Total
Current Liabilities |
333.773
|
241.737
|
27.511 |
|
|
Net Current Assets |
1578.847
|
884.481
|
275.688 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.370 |
|
|
|
|
|
|
|
|
TOTAL |
2692.174 |
1950.340 |
1153.112 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4463.056 |
2375.112 |
20.664 |
|
|
|
Other Income |
0.000 |
9.869 |
0.283 |
|
|
|
TOTAL (A) |
4463.056 |
2384.981 |
20.947 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increased/Decreased in stock |
|
(435.296) |
(50.957) |
|
|
|
Manufacturing Expenses |
|
2779.082 |
71.357 |
|
|
|
Administrative Expenses |
|
102.283 |
0.055 |
|
|
|
Selling and Distribution Expenses |
4093.796 |
21.396 |
0.000 |
|
|
|
Personal Cost |
|
18.937 |
0.000 |
|
|
|
Loss on |
|
0.141 |
0.000 |
|
|
|
Miscellaneous Expenses W/off |
|
0.370 |
0.000 |
|
|
|
TOTAL (B) |
4093.796 |
2486.913 |
20.455 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
369.260 |
(101.932) |
0.492 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
170.729 |
0.135 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
369.260 |
(272.661) |
0.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
87.766 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
369.260 |
(360.427) |
0.357 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
54.000 |
0.213 |
0.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
315.260 |
(360.640) |
0.247 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
164.303 |
200.360 |
NA |
|
|
TOTAL EARNINGS |
164.303 |
200.360 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1002.144 |
1223.571 |
NA |
|
|
|
Stores & Spares |
1.185 |
NA |
NA |
|
|
|
Capital Goods |
NA |
5.245 |
NA |
|
|
TOTAL IMPORTS |
1003.329 |
1228.816 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.47 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.06 |
(15.12) |
1.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.27 |
(15.18) |
1.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.66 |
(17.18) |
0.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
(1.40) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.86 |
7.52 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.73 |
4.66 |
11.02 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered
office of the company has been shifted from 17/2, New Vaidyanathan
Streettondiarpet, Chennai – 600081, Tamilnadu, India to 2T/11, Sri
Venkateshwara Colony, 1st Floor, Vaidyanathan Street, Tondiarpet,
Chennai-600081, Tamilnadu, India w.e.f.01.08.2007
The registered
office of the company has been shifted from 2T/11, Sri Venkateshwara Colony, 1st
Floor,
PROFILE
BUSINESS
REVIEW :
The company is committed to achieve excellence. It had
emerged as one of the strong contender to be the leading manufacturer in the
state of Tamilnadu in the 1St
year of operations itself.
After achieving success in commissioning the Furnace on 28th
May 2008, they could commence the commercial production of TMT in July 2008.
They are glad to inform you all that the billet and TMT production is fully
established and they are able to achieve a production level of more than 40% of
capacity despite 50% power cut.
In the recent past commodities market is hit heavily and
metals were affected very badly. Many of the metals have gone down in prices by
50% in a short span of time. This has happened due to the global economic
crisis, having its ripple effect on the Indian economy. The Steel Industry and
the company is no exception to this and have faced tough time over the past few
months. In fact it has a dual adverse impact i.e., due to sudden fall in the
scrap prices on the one side and appreciation of Dollar on another. The demand
side of the finished goods also affected badly due to the severe hit to
infrastructure and property development sectors.
Reasons
for underperformance of the company
¨
Sudden and steep fall in the prices of
imported melting scrap and finished steel.
¨
Huge appreciation in dollar price
during the same period.
¨
Severe power cut affecting the
production and production cost.
¨
Large real estate developers and
infrastructure companies have slowed down their pace of expansion considerably
to withstand the sudden downturn.
¨
The steel industry has witnessed
shrinkage in margins, on account of the double hit on account of losses on raw
materials as well as due to dwindling demand.
¨
Due to the above factors, they had
suffered considerable losses.
OUTLOOK
:
The business outlook for the company is very encouraging and
the company is well positioned to focus on the opportunities to become a
competent player in the field.
Despite the short term hitch, Indian Steel Industry outlook
remains extremely positive.
¨
In
¨
The state govt. of TN is also coming
out with ambitious projects for infrastructure development like Airport
Expansion, Chennai Metro Rail, New Secretariat etc
¨
Indian banking system has also
liberalized its terms for home loans to give a boost to housing sector.
¨
The price of melting scrap is at quite low
level and stabilized to a large extent.
Apart from these, SAPPL enjoys significant advantages on
account of:
¨
Chennai has been a strong hub for IT
industry
¨
SAPPL is the only company in TN
producing Thermax brand QST, one of the global best brand in steel.
¨
Suryadev brand is well established in
Tamil Nadu with significant recall in a short time due to its quality.
¨
Promoters have built strong business
connections with best of the builders and developers.
¨
SAPPL adverting and marketing has been
quite effective in establishing the products in such a short time period across
the state of Tamilnadu.
FORM 8 :
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10060574 |
|
Corporate identity
number of the company |
U29141TN2006PTC059997 |
|
Name of the
company |
SURYADEV ALLOYS
AND POWER PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Address : No:2 and
4, 4th floor , "Golden Enclave", 184,Poonamallee High Road,
Kilpauk, Chennai-600010, Email : kpkchennai@yahoo.co.in |
|
Type of charge |
Immovable property Book Debts Movable Property (not being pledge) Others |
|
Particular of
charge holder |
INDIAN OVERSEAS
BANK (LEAD BANK) Address :
Royapuram Branch, Email : kpkchennai@yahoo.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
a) Joint T L
(Consortium) Agreement. b) Agreement
Ceding of Pari Passu Charge for Both Working Capital Facilities and T L
Facilities. c) Inter Se
Agreement for T L and Working Capital T L Facilities. d) First
Supplemental Joint Deed of Hypothecation for T L and Working Capital T L
Facilities. e) Inter Se
Agreement for Working Capital Facilities. f) First Supplemental
Joint Deed of Hypothecation for Working Capital Facilities. g) Confirmation
letter evidencing creation of supplemental Mortgage. |
|
Date of
instrument Creating the charge |
15.07.2009. |
|
Amount secured by
the charge |
Rs. 2088.500
Millions. |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge : As per Agreements |
|
Short particulars
of the property charged |
|
|
Date of latest modification
prior to the present modification |
08.09.2008. |
|
Particulars of
the present modification |
By the present
modification the overall limits enhanced from Rs.1834.000 Millions to
Rs.2088.500 Millions. |
|
Corporate identity
number of the company |
U29141TN2006PTC059997 |
|
Name of the
company |
SURYADEV ALLOYS
AND POWER PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No:2 and 4, 4th
floor , "Golden Enclave", 184,Poonamallee High Road, Kilpauk,
Chennai-600010, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
State Bank of |
|
Nature of
instrument creating charge |
1. Agreement of
loan for overall limit. Form-C.1. 2. Agreement of
Hypothecation of Goods and Assets. Form-C.2. 3. Letter
regarding the grant of Individual Limits within the overall Limit. Form C.5 |
|
Date of
instrument Creating the charge |
05/07/2010 |
|
Amount secured by
the charge |
Rs.787.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by the
Bank from time to time and agreed by the company Terms of
Repayment As stipulated by
the Bank from time to time and agreed by the Company. Margin As stipulated by
the Bank from time to time and agreed by the Company. Extent and
Operation of the charge As stipulated by
the Bank from time to time and agreed by the Company. Others As mentioned the
Agreement |
|
Short particulars
of the property charged |
Hypothecation of
Company's viz., Current assets stock of raw materials, SIP, finished Goods, Consumable
Stores, Receivables and other current assets on pari passu basis with other
consortium Banks. |
FIXED
ASSETS :
¨
Land
¨
Building
¨
Vehicles
¨
Plant and Machinery
¨
Furniture and Fittings
AS PER WEBI-DEATAILS :
PROFILE :
The Dawn Of QST Rebars
In
They are pleased to introduce themselves as a leading manufacturer of steel products, with a wide and specialized range in TMT and Wire Rod Coils.
¨
The Green Field integrated steel plant, the
first of its kind in
¨ Ministry of Steel, Government of India has selected the factory as Modal unit among the reinforcement steel rebars manufacturing units.
¨
SURYADEV QST (Quenching and Self Tempering)
rebars are manufactured in Technical Collaboration with Hennigsdorfer Stahl
Engineering GmbH
¨ SURYADEV QST rebars are manufactured only from IS 2830 : 1992 grade billets which are manufactured from the own twin furnaces with a capacity of 800 MT/day, in Technical Collaboration with Electrotherm.
¨
The unique feature of the furnace is that they
can control all chemical properties i.e., Carbon,
¨ Fully automated Computer controlled system – PLC system from ABB ensures consistency in Quality.
¨
First in Tamilnadu with straight and continuous
mill with world class cooling bed, one of the largest in
¨ ISO and BIS certified brand for Fe-415, Fe-500, Fe-550 grades and Corrosion Resistant Steel (HSCRS / HSCRM).
¨ A wide range of sizes ranging from 8 mm to 32 mm of any length upto 30 mts.
¨ Approved by various State and Central Government organizations like NHAI, Chennai Port Trust, Military Engineering Services, Public Works Department(Tamilnadu), Tamilnadu Electricity Board, Nuclear Power Corporation, Airport Authority Of India,
They assure you to provide best quality at most competitive price and prompt delivery with requisite test certificate as they have a well equipped and sophisticated Chemical and Physical Laboratory facility, to test both raw materials and finished products and monitor online testing at every stage, as per IS specifications.
As a quality conscious and discerning buyer, they are sure that you will give us an opportunity to supply SURYADEV QST rebars for the prestigious projects and they look forward to building a long and healthy relationship with the organization.
Billets :
¨
Carbon Steel cast billets 100
X 100 sq. mm.
¨
110 X 110 sq. mm. and
¨
125 X 125 sq. mm. for QST/TMT
bars and wire rod coils
RAW MATERIAL
PROCESSING
The main raw material used is Sponge Iron or DRI. In addition to this castings and some selected industrial end cuts such as punching, etc are used in predetermined proportions. These different raw materials are graded and stored in very large Raw Material Yard. The selected raw material sample is then added into the lab furnace for melting. The sample is tested to analyze the chemical composition is analyzed with the help of in-house spectrometer and C and S apparatus.
MELTING PROCESS
The core-less induction furnace used for melting is composed
of a refractory container capable of holding the molten bath which is
surrounded by water cooled helical coil connected to a source of alternating
current. The furnace lining is made of up Silica to withstand the slag
condition of mild steel or any plain carbon steel that is acidic in nature.
After melting, the furnace is tilted to remove the slag and other impurities
that come to the surface of molten metal.
Addition of Micro Alloying Elements
Micro alloying elements are added for refining the molten metal to achieve the
desired level of composition. The molten metal is fully killed with Aluminium,
Ferro Silicon, and Ferro Manganese. If necessary, de-sulfurising and
de-phosphorising is also done to remove all the gases present in the molten
metal. Throughout the Melting Process and Micro alloying elements addition
process, samples are chemically analyzed to ensure accurate and desired
chemical composition.
LADLE PURGING
PROCESS
Purging is done to the molten metal tapped to the ladle to achieve
homogenous chemistry and temperature throughout the ladle. In order to avoid
thermal stratification that leads to undesirable varying steel compositions,
gas purging is done. Purging is conducted by generating bath turbulence also
helps in removing excessive non metallic inclusions.
CONTINUOUS CASTING
PROCESS
After purging, the ladle is taken to Continuous Casting set up where it is placed on the Tundish. The material then passes from ladle to tundish and tundish to moduls. Liquid steel is continously poured into the mould to replenish the withdrawn steel at an equal rate. The withdrawal rate depends on the cross section, grade and quality of steel being produced and may vary between 12-300 inches per minute. Casting time is typically 0.9 -1.2 hours per heat to avoid excessive ladle heat losses.
Upon exiting the mould, strand enters a roller containment section and secondary cooling chamber in which the solidifying strand is sprayed with water or air mist for solidification. This area preserves cast shape integrity and product quality.
SURYADEV
AWARDS
¨ Subject has been chosen as
the Best Steel Brand in
Tamilnadu by Vinigamani Business Monthly Magazine for the year 2008-09.
¨
Subject has sponsored SAPPER CUP,
a Golf Tourney for Military Engineering Services for
the year 2009.
¨
Subject has been participated in International Build
Expo held between July 11, 2009 to July
13, at Chennai, Tamilnadu.
¨ Subject has sponsored Building Technocrats Association Meeting, Kumbakonam, Tamilnadu for the year 2009.
COMPANY OVERVIEW :
- The Dawn Of QST Rebars In
Spearheading the new revolutionary QST Rebars in
- The First Green Field Thermex Technology Plant of Tamil Nadu
The Green Field Thermex Technology Plant of Suryadev at New
Goomidipoondi, 40 km from Chennai off GNT high way is designed to the exacting
international standards set by Hennigsdorfar Stahl Engineering. It Is from this
integrated steel plant 18,000 MT of QST rabars, Wire Rod Coils and Billets roll
out to meet the exacting demands of civil designer in terms of flow costs and
increased strength without additional processes such as twisting and additional
alloying elements In steel making.
- Acknowledgement from Ministry Of Steel
The Green field Thermex Technology Plant of Suryadev has been
acknowledged by the Ministry of Steel, Govt. of India as the most modern plant
in
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.05 |
|
|
1 |
Rs.75.20 |
|
Euro |
1 |
Rs.66.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.