MIRA
INFORM REPORT
|
Report Date : |
28.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ADDI ALLOYS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.09.1990 |
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Com. Reg. No.: |
010703 |
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Capital Investment
/ Paid-up Capital : |
Rs.9.500 Millions |
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CIN No.: [Company Identification
No.] |
U99999PB1990PTC010703 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JLDA01705E JLDA01663E |
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PAN No.: [Permanent Account No.] |
AABCA2446G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Ingots, Round, Bars, RCS, Coil and Flats, Alloy Steel
and Non-Alloy Steel. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
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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 a 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
LOCATIONS
|
Registered Office : |
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Tel. No.: |
91-161-2531846 / 2534134 / 2511268 / 2511646 |
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Fax No.: |
91-161-2512201 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Balbir Singh |
|
Designation : |
Director |
|
Address : |
H No.535-A, |
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Date of Birth/Age : |
19.10.1963 |
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Date of Appointment : |
20.09.1990 |
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DIN No.: |
00782578 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U99999PB1990PTC010703 |
Addi Alloys Private
Limited |
Director |
20-09-90 |
20-09-90 |
- |
Active |
NO |
|
2 |
U67120PB1994PLC014371 |
RKB Fiscal
Services Limited |
Director |
09-05-08 |
09-05-08 |
- |
Active |
NO |
|
3 |
U27100PB2009PTC033301 |
Addi Concast
Private Limited |
Director |
21-10-09 |
21-10-09 |
- |
Active |
NO |
|
4 |
U51109WB2005PTC106234 |
Ankush Goods
Private Limited |
Director |
21-01-11 |
21-01-11 |
- |
Active |
NO |
|
Name : |
Mr. Harjinder Singh |
|
Designation : |
Director |
|
Address : |
H No.535-A, |
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Date of Birth/Age : |
25.04.1958 |
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Date of Appointment : |
11.06.2001 |
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DIN No.: |
00839250 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U99999PB1990PTC010703 |
Addi Alloys
Private Limited |
Director |
11-06-01 |
11-06-01 |
- |
Active |
NO |
|
2 |
U67120PB1994PLC014371 |
RKB Fiscal
Services Limited |
Director |
09-05-08 |
09-05-08 |
- |
Active |
NO |
|
3 |
U27100PB2009PTC033301 |
Addi Concast
Private Limited |
Director |
21-10-09 |
21-10-09 |
- |
Active |
NO |
|
4 |
U51109WB2005PTC106234 |
Ankush Goods
Private Limited |
Director |
21-01-11 |
21-01-11 |
- |
Active |
NO |
|
Name : |
Mr. Hanmeet Singh |
|
Designation : |
Director |
|
Address : |
H No.535-A, |
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Date of Birth/Age : |
09.01.1985 |
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Date of Appointment : |
05.04.2011 |
|
DIN No.: |
00839418 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U27100PB2005PTC027968 |
Manmeet Alloys
Private Limited |
Director |
14-02-05 |
14-02-05 |
- |
Active |
NO |
|
2 |
U67120PB1994PLC014371 |
RKB Fiscal
Services Limited |
Director |
09-05-08 |
09-05-08 |
- |
Active |
NO |
|
3 |
U51109WB2005PTC106234 |
Ankush Goods
Private Limited |
Director |
21-01-11 |
21-01-11 |
- |
Active |
NO |
|
4 |
U99999PB1990PTC010703 |
Addi Alloys
Private Limited |
Director |
30-09-11 |
05-04-11 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Balbir Singh |
|
42350 |
|
Harjinder Singh |
|
18200 |
|
Manmeet Singh |
|
4000 |
|
Jasewinder Kuar |
|
2000 |
|
Manpreet Kuar |
|
2000 |
|
Harvind Kuar |
|
4750 |
|
Ajit Singh |
|
1700 |
|
Harjeet Kuar |
|
20000 |
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Total |
|
95000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Ingots, Round, Bars, RCS, Coil and Flats, Alloy Steel
and Non-Alloy Steel. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vinay and Associates Chartered Accountants |
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Address : |
SCO-30, |
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Tel. No.: |
2nd Floor, Feroze Gandhi Market, |
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PAN.: |
AACFV0520C |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000 |
Equity Shares |
Rs.100/-
each |
Rs.9.500
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
9.500 |
9.500 |
7.500 |
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2] Share Application Money |
2.500 |
0.000 |
4.000 |
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|
3] Reserves & Surplus |
25.203 |
21.869 |
16.655 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
37.203 |
31.369 |
28.155 |
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LOAN FUNDS |
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|
1] Secured Loans |
112.188 |
83.390 |
79.563 |
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2] Unsecured Loans |
13.054 |
14.357 |
19.021 |
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TOTAL BORROWING |
125.242 |
97.747 |
98.584 |
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DEFERRED TAX LIABILITIES |
2.162 |
2.087 |
1.930 |
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TOTAL |
164.607 |
131.203 |
128.669 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
22.226 |
21.961 |
19.699 |
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Capital work-in-progress |
4.700 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
70.817
|
58.957 |
46.180 |
|
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Sundry Debtors |
81.561
|
56.300 |
20.821 |
|
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Cash & Bank Balances |
3.715
|
22.530 |
0.401 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
114.312
|
37.860 |
85.897 |
|
Total
Current Assets |
270.405
|
175.647 |
153.299 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
102.934
|
29.264 |
16.364 |
|
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Other Current Liabilities |
25.514
|
34.584 |
25.305 |
|
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Provisions |
4.397
|
2.705 |
2.784 |
|
Total
Current Liabilities |
132.845
|
66.553 |
44.453 |
|
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Net Current Assets |
137.560
|
109.094 |
108.846 |
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MISCELLANEOUS EXPENSES |
0.121 |
0.148 |
0.124 |
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|
|
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|
|
|
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TOTAL |
164.607 |
131.203 |
128.669 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SALES |
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Income |
|
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Other Income |
|
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TOTAL (A) |
521.888 |
388.583 |
432.022 |
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Less |
EXPENSES |
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|
Office Expenses |
|
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Administrative Expenses |
|
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Advertising Expenses |
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TOTAL (B) |
502.971 |
369.043 |
415.113 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.917 |
19.540 |
16.909 |
|
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|
|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
11.955 |
13.174 |
10.965 |
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.962 |
6.366 |
5.944 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.861 |
1.684 |
1.462 |
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PROFIT BEFORE
TAX (E-F) (G) |
5.101 |
4.682 |
4.482 |
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|
Less |
TAX (I) |
NA |
1.457 |
NA |
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|
PROFIT AFTER TAX
(G-I) (J) |
NA |
3.225 |
NA |
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|
Earnings Per
Share (Rs.) |
-- |
33.95 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.83 |
NA |
|
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.74
|
2.37 |
2.59 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.15 |
0.16 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
5.24 |
5.08 |
|
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.04
|
2.64 |
3.45 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate identity number of the company |
U99999PB1990PTC010703 |
|
Name of the company |
ADDI ALLOYS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
E-mail : my.client123@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
80027856 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others (all types of stocks, plant and machinery) |
|
Particular of charge holder |
State Bank of E-mail : sbpcppho@sanchar.net.in
|
|
Nature of instrument creating charge |
Guarantee Agreement dated 30.08.2011 |
|
Date of instrument Creating the charge |
30.08.2011 |
|
Amount secured by the charge |
Rs.270.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of interest Credit Limits sanctioned to Subject : As per last executed agreements. Credit Limits sanctioned to Manmeet Alloys Private Limited: To be paid
by them. Terms of repayment Credit Limits sanctioned to subject : As per last executed agreements. Credit Limits sanctioned to Manmeet Alloys Private Limited: To be
repaid by them. Margin As per Bank Rules Extent and operation of the charge 100%. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of Stock of raw material,
finished goods, book debts and other current assets. Plant and Machinery. |
|
Date of instrument modifying the charge |
05.02.2011 |
|
Particulars of the present modification |
Total credit limits given to subject being same. However, Guarantee of Rs.166.000 Millions given by the company for M/s
Manmeet Alloys Private Limited enhanced to Rs.190.000 Millions. Thus, total amount of credit facilities enhanced to Rs.270.000 Millions
from Rs.226.000 Millions.(including guarantee given) |
FIXED ASSETS
- Air Conditioner
- Building
- Car
- Computers
- Dish Antenna and Television
- E.O.I Crane
- E.P.B.X.
- Electric Fitting
- Fire Extinguisher
- Furniture and Fixtures
- Generator
- Lab Equipments
- Land
- Mobile Crane
- Mobile Set and Telephones
- Office Equipments
- Plant and Machinery
- Pollution Control Equipments
- Scooter
- Truck and Crane
- Tube Well
- Typewriter
- Weighing Bridge
- Weighing Scale
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.52.89 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.15 |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.