MIRA
INFORM REPORT
|
Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
PAUL STRIPS AND TUBES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PAUL AUTO FINANCIERS COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
120/98, Lajpat Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.12.1985 |
|
|
|
|
Com. Reg. No.: |
20-7602 |
|
|
|
|
CIN No.: [Company Identification No.] |
U65921UP1985PTC007602 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KNPP01316A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP8103A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ferrous and Non-Ferrous Metals. |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The networth
statement and the valuation report appears to be satisfactory. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. However it would be advisable to take adequate securities while
dealing with the subject. |
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Dharamveer Agarwal) |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9839117473 |
|
Date : |
11.01.2011 |
LOCATIONS
|
Registered Office : |
120/98, Lajpat Nagar, |
|
Mobile No.: |
91-9839117473 (Mr. Dharamveer Agarwal) |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
E-19, NIDC, Addition Jejuri Industrial Area, Vill, Jejuri, Tal –
Purandar, district Pune, |
|
Location : |
Owned |
DIRECTORS
(AS ON 30.09.2009)
|
Name : |
Mr. Siddhartha Katyal |
|
Designation : |
Director |
|
Address : |
120/98, Lajpat Nagar, |
|
Date of Birth/Age : |
26.12.1973 |
|
Date of Appointment : |
08.12.2006 |
|
Other Directorship : |
Panem Castings Private Limited U27104UP1992PTC013964 Panem Steels Private Limited U27109UP1990PTC012439 |
|
|
|
|
Name : |
Mr. Rishi Katyal |
|
Designation : |
Director |
|
Address : |
120/407, Lajpat Nagar, |
|
Date of Birth/Age : |
04.09.1983 |
|
Date of Appointment : |
08.12.2006 |
|
Other Directorship : |
Panem Castings Private Limited U27104UP1992PTC013964 |
|
|
|
|
Name : |
Mr. Sunil Katyal |
|
Designation : |
Director |
|
Address : |
120/407, Lajpat Nagar, |
|
Date of Birth/Age : |
23.06.1956 |
|
Date of Appointment : |
24.12.1985 |
|
|
|
|
Name : |
Mr. K. L. Katyal |
|
Designation : |
Director |
|
Address : |
120/407, Lajpat Nagar, |
|
Date of Birth/Age : |
15.06.1922 |
|
|
|
|
Name : |
Mr. Satpal Katyal |
|
Designation : |
Director |
|
Address : |
120/98, Lajpat Nagar, |
KEY EXECUTIVES
|
Name : |
Mr. Dharamveer Agarwal |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 15.03.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rishi Katyal |
|
216240 |
|
K. L. Katyal |
|
405500 |
|
Sudershan Katyal |
|
211000 |
|
Neena Katyal |
|
202500 |
|
Parul Katyal |
|
10 |
|
Sunil Katyal (HUF) |
|
10 |
|
K. L. Katyal (HUF) |
|
10 |
|
Sunil Katyal Sudershan Katyal HUF |
|
4020 |
|
K. L. Katyal Sunil Katyal HUF |
|
4010 |
|
Sunil Katyal Rishi Katyal HUF |
|
10 |
|
Rishi Katyal Neena Katyal HUF |
|
12010 |
|
K. L. Katyal Sudershan Katyal |
|
10 |
|
Sunil Katyal Neena Katyal |
|
10 |
|
Sunil, Neena, S. P., Siddharth Katyal |
|
10 |
|
Siddhartha Katyal |
|
375610 |
|
S. P. Katyal |
|
250500 |
|
Santosh Katyal |
|
207500 |
|
Ena Katyal |
|
133820 |
|
S. P. Katyal Siddharth Katyal HUF |
|
34800 |
|
S. P. Katyal Santosh Katyal HUF |
|
5000 |
|
Siddhartha Katyal Santosh Katyal HUF |
|
5000 |
|
S. P. Katyal HUF |
|
40010 |
|
S. P. Katyal, Santosh, Siddhartha Katyal HUF |
|
3110 |
|
Renu Nanda |
|
10 |
|
Pradeep Kumar HUF |
|
10 |
|
Praveen Ankit HUF |
|
10 |
|
Ankit Nemani |
|
10 |
|
Ankit Benefit |
|
10 |
|
Anubhab Benefit |
|
10 |
|
Nath Jalan |
|
10 |
|
Madan Lal Jalan |
|
10 |
|
Madan Gopal Jalan |
|
10 |
|
Malik Transport Company |
|
10 |
|
Samtal Finance Systems Private Limited |
|
30000 |
|
Success Vyapar Private Limited |
|
50000 |
|
Priyanshi Securities Limited |
|
20000 |
|
|
|
2210800 |
|
Total |
|
2110800 |
(AS ON 30.09.2009)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ferrous and Non-Ferrous Metals. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s · Anjali Tubes ·
Unitherm Inductoweld · G. D. Met Steel (Private) Limited · J. K. white Cement Works · Meenakshi Ferro Ingots (Private) Limited · Shubham Steels · Maha Vitran, Pune · Shri Sai Sales Corporation · Shri Ganpati Pipe Trading (Private) Limited ·
· S. V. Iron Traders · Jai Tripati Steels Private Limited · Allied Ferromelt (Private) Limited · Anupam Fabrotech Private Limited · Bhor Engg. (Private) Limited · H. Vikas Pipe and Steel · M. H. Saboo Nagar and Sons · Rishabh Sales Corporation · Shree Balaji Steels · Royal Engg. Technologies ·
· Shree Mahalaxmi Steel Industries |
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||||||||||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
State Bank of Industrial Finance Branch, B – 13, Sarvodaya Nagar, · Corporation Bank |
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Facilities : |
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. N. Sharma and Company Chartered Accountant |
|
Address : |
58/4, |
|
Tel./ Fax No.: |
91-512-2366629/ 3243049/ 2363726 |
|
|
|
|
Associates/Subsidiaries : |
§
Panem Castings Private Limited U27104UP1992PTC013964 §
Panem Steels Private Limited U27109UP1990PTC012439 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3060000 |
Equity Share |
Rs.10/- each |
Rs.30.600 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2210800 |
Equity Share |
Rs.10/- each |
Rs.22.108
Millions |
|
|
|
|
|
|
|
Shares application Money pending allotment |
|
Rs.0.210
Million |
|
|
Share Premium Account |
|
Rs.9.000
Millions |
|
|
Capital Reserve |
|
Rs.4.564
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.35.882 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 |
35.882 |
30.882 |
25.882 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.114 |
0.059 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.484) |
|
|
NETWORTH |
39.996 |
30.941 |
25.398 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
106.403 |
105.389 |
67.115 |
|
|
2] Unsecured Loans |
38.720 |
27.045 |
12.191 |
|
|
TOTAL BORROWING |
145.123 |
132.434 |
79.306 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
185.119 |
163.375 |
104.704 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
113.653 |
109.957 |
86.888 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.128
|
40.372 |
19.594 |
|
|
Sundry Debtors |
44.054
|
20.805 |
0.000 |
|
|
Cash & Bank Balances |
3.637
|
2.770 |
0.836 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.311
|
1.589 |
5.308 |
|
Total
Current Assets |
103.130
|
65.536 |
25.738 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
23.739
|
11.982 |
7.288 |
|
|
Other Current Liabilities |
7.970
|
0.199 |
0.722 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
31.709
|
12.181 |
8.010 |
|
|
Net Current Assets |
71.421
|
53.355 |
17.728 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.045 |
0.063 |
0.088 |
|
|
|
|
|
|
|
|
TOTAL |
185.119 |
163.375 |
104.704 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
332.796 |
283.258 |
0.000 |
|
|
|
Other Income |
0.241 |
0.071 |
0.054 |
|
|
|
TOTAL (A) |
333.037 |
283.329 |
0.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (Decrease) in Finished Goods |
(23.253) |
(13.184) |
(0.813) |
|
|
|
Manufacturing and Other Expenses |
335.144 |
283.131 |
0.854 |
|
|
|
TOTAL (B) |
311.891 |
269.947 |
0.041 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
21.146 |
13.382 |
0.013 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.421 |
10.185 |
0.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.725 |
3.197 |
(0.026) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.770 |
2.591 |
0.099 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.955 |
0.606 |
(0.125) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.900 |
0.063 |
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.055 |
0.543 |
(0.135) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.059 |
(0.483) |
(0.348) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
4.114 |
0.060 |
(0.483) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.83 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.22
|
0.19 |
(250.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.49
|
0.21 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.29
|
0.35 |
(0.11) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.02 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.42
|
4.67 |
3.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.25
|
5.38 |
3.21 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Estimated |
Projected |
|||
|
Goss Sales |
|
|
|
|
|
|
Domestic Sales |
350.000 |
370.000 |
400.000 |
420.000 |
450.000 |
|
Export Sales |
-- |
-- |
-- |
-- |
- |
|
|
|
|
|
|
|
|
Total |
350.000 |
370.000 |
400.000 |
420.000 |
450.000 |
|
|
|
|
|
|
|
|
Less : Excise Duty |
26.500 |
29.000 |
30.000 |
31.000 |
32.000 |
|
|
|
|
|
|
|
|
Deduct Other Items (Trade Tax) |
12.500 |
13.000 |
13.500 |
14.00 |
14.500 |
|
|
|
|
|
|
|
|
Net
Sales |
311.000 |
328.000 |
356.500 |
375.000 |
403.500 |
|
|
|
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to previous
year |
4.99 |
5.47 |
8.69 |
5.19 |
7.60 |
|
|
|
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials [Including stores and other items used in
the process of manufacture] |
|
|
|
|
|
|
[a] Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Indigenous |
228.000 |
241.000 |
265.000 |
280.000 |
302.500 |
|
|
|
|
|
|
|
|
Other Spares |
|
|
|
|
|
|
[a] Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
[b] Indigenous |
2.000 |
2.200 |
2.500 |
2.700 |
3.000 |
|
|
|
|
|
|
|
|
Power and Fuel |
54.500 |
55.000 |
56.500 |
57.500 |
59.500 |
|
|
|
|
|
|
|
|
Direct labour |
1.000 |
1.100 |
1.200 |
1.300 |
1.400 |
|
[Factory Wages and Salaries] |
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
5.000 |
5.500 |
6.000 |
6.500 |
7.000 |
|
|
|
|
|
|
|
|
SUB
TOTAL |
291.000 |
305.300 |
331.700 |
348.500 |
373.900 |
|
|
|
|
|
|
|
|
Add : Opening Stocks – in – process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Sub
Total |
291.000 |
305.300 |
331.700 |
348.500 |
373.900 |
|
|
|
|
|
|
|
|
Deduct : Closing Stock – in – Process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Cost
of Production |
291.000 |
305.300 |
331.700 |
348.500 |
373.900 |
|
|
|
|
|
|
|
|
Add : Opening Stock of finished goods |
37.249 |
37.500 |
37.500 |
37.500 |
37.500 |
|
|
|
|
|
|
|
|
Sub
– Total |
328.249 |
342.800 |
369.200 |
386.000 |
411.400 |
|
|
|
|
|
|
|
|
Deduct: Closing Stock – in - finished goods |
37.500 |
37.500 |
37.500 |
37.500 |
37.500 |
|
|
|
|
|
|
|
|
Total
Cost of Sales |
290.749 |
305.300 |
331.700 |
348.500 |
373.900 |
|
|
|
|
|
|
|
|
Marketing, General and Administrative Expenses |
1.500 |
2.000 |
2.200 |
2.400 |
2.600 |
|
|
|
|
|
|
|
|
Sub Total |
292.249 |
307.300 |
333.900 |
350.900 |
376.500 |
|
|
|
|
|
|
|
|
Operation profit before interest |
18.751 |
20.700 |
22.600 |
24.100 |
27.000 |
|
|
|
|
|
|
|
|
Interest |
11.000 |
11.000 |
11.000 |
11.000 |
11.000 |
|
|
|
|
|
|
|
|
Operating profit after interest |
7.751 |
9.700 |
11.600 |
13.100 |
16.000 |
|
|
|
|
|
|
|
|
Non-Operating Income |
0.250 |
0.300 |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
|
|
Non-Operating Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net
of Other Non-Operating Income/ Expenses |
0.250 |
0.300 |
0.300 |
0.300 |
0.300 |
|
|
|
|
|
|
|
|
Profit Before Tax / Loss |
8.001 |
10.000 |
11.900 |
13.400 |
16.300 |
|
|
|
|
|
|
|
|
Provision for Taxes |
1.500 |
2.000 |
2.200 |
2.600 |
3.300 |
|
|
|
|
|
|
|
|
Net Profit / Loss |
6.501 |
8.000 |
9.700 |
10.800 |
13.000 |
|
|
|
|
|
|
|
|
Retained Profit |
6.501 |
8.000 |
9.700 |
10.800 |
13.000 |
|
|
|
|
|
|
|
|
Retained Profit / Net Profit (% age) |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(RS.
IN MILLIONS)
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
Estimated |
Projected |
|||
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
Short – Term borrowings from banks [including bill
purchased, discounted and excess borrowings placed on repayment basis] |
|
|
|
|
|
|
From Applicant Banks |
55.000 |
55.000 |
55.000 |
55.000 |
55.000 |
|
From Other Banks |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Of Which BP and BD |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Sub
Total |
55.000 |
55.000 |
55.000 |
55.000 |
55.000 |
|
|
|
|
|
|
|
|
Short Term Borrowings from others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Sundry creditors [Trade] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance payments from customers/ Deposits from dealers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Provision for tax [net of Tax paid] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Car Loans |
0.612 |
0.275 |
0.000 |
0.000 |
0.000 |
|
Other statutory liabilities [due within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Deposits/ Installments of term loans/ DPGs/ debentures,
etc [due within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
T/ L Payable < 1 year |
10.000 |
11.000 |
12.000 |
12.000 |
3.200 |
|
Sundry Creditors |
4.500 |
4.500 |
4.500 |
4.500 |
4.500 |
|
Other current liabilities and provisions [due within one
year] |
8.000 |
8.000 |
8.000 |
8.000 |
8.000 |
|
|
|
|
|
|
|
|
TOTAL CURRENT
LIABILITIES |
78.112 |
78.775 |
79.500 |
79.500 |
70.700 |
|
|
|
|
|
|
|
|
Debentures [not maturing within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Preference Shares [Redeemable after 1 year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Term loans [excluding installments payable within
one year] |
38.200 |
27.200 |
15.200 |
3.200 |
0.000 |
|
Deferred Sales Tax / Deferred Loan Deferred Payment Credit
[Excluding installments due within one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Term deposit [repayable after one year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
TERM LIABILITIES |
38.200 |
27.200 |
15.200 |
3.200 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
OUTSIDE LIABILITIES |
116.312 |
105.975 |
94.700 |
82.700 |
70.700 |
|
|
|
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary Shares Capital |
22.108 |
22.108 |
22.108 |
22.108 |
22.108 |
|
Shares Premium |
9.000 |
9.000 |
9.000 |
9.000 |
9.000 |
|
Other reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Surplus [+] or deficit [-] in Profit and Loss Account |
10.615 |
18.615 |
28.315 |
39.115 |
52.115 |
|
Other (Specify) |
|
|
|
|
|
|
- Share Application
Money |
0.210 |
0.210 |
0.210 |
0.210 |
0.210 |
|
- Capital Reserve |
4.564 |
4.564 |
4.564 |
4.564 |
4.564 |
|
- Unsecured Loans
from Friends and Relatives |
39.000 |
39.000 |
39.000 |
39.000 |
39.000 |
|
|
|
|
|
|
|
|
TOTAL
NET WORTH |
85.497 |
93.497 |
103.197 |
113.997 |
126.997 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
201.809 |
199.472 |
197.897 |
196.697 |
197.697 |
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
1.000 |
1.500 |
4.500 |
6.000 |
4.000 |
|
Fixed deposits with Banks |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
|
I] Receivables other than deferred and exports [Including
bills purchased and discounted by banks] |
35.000 |
35.000 |
35.000 |
35.000 |
40.000 |
|
II] Export receivables [Including bills purchased /
discounted by banks] |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Instilments of Deferred receivables [due within one
year] |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVENTORY
|
|
|
|
|
|
|
I] Raw materials [Including stores and other items used in
the process of manufacture] |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous |
9.000 |
9.000 |
9.000 |
10.000 |
10.000 |
|
|
|
|
|
|
|
|
Stock – in – process |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Finished Goods |
37.500 |
37.500 |
37.500 |
37.500 |
37.500 |
|
|
|
|
|
|
|
|
Other consumable spares |
|
|
|
|
|
|
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Indigenous |
6.000 |
6.400 |
6.600 |
7.300 |
7.500 |
|
|
|
|
|
|
|
|
Advances Payment of Taxes
|
1.500 |
2.000 |
2.200 |
2.600 |
3.300 |
|
|
|
|
|
|
|
|
Other Current Assets |
0.572 |
0.857 |
1.382 |
1.582 |
2.182 |
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
Gross Block (Land and Building, Machinery,
Work-In-Progress) |
123.000 |
124.500 |
125.000 |
126.500 |
130.000 |
|
Depreciation to date |
13.285 |
18.785 |
24.785 |
31.285 |
38.285 |
|
|
|
|
|
|
|
|
NET BLOCK |
109.715 |
105.715 |
100.215 |
95.215 |
91.715 |
|
|
|
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INTANGIBLE
ASSETS |
0.022 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
ASSETS |
201.809 |
199.472 |
197.897 |
196.697 |
197.697 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
NAME
OF THE CO-APPLICANT: MR. SIDDHARTH KATYAL
NAME
OF THE CO-APPLICANT: MR. RISHI KATYAL
(RS.
IN MILLIONS)
ASSETS
IMMOVABLE
PROPERTY
|
Particulars |
Co-Applicant |
Co-Applicant |
|
Address of the Property with survey No./ door No. etc. |
1. 117/122,
Sarvodya nagar, 2. B – 20, Undri
Pune, (1/2 Portion) |
B -20, Undri
Pune, (1/2 Portion) |
|
|
|
|
|
Description: Land/ Site/ Building |
1. Land and
Building 2. Only Land |
Only Land |
|
|
|
|
|
Whether Freehold/ Leasehold |
1. Freehold 2. Freehold |
Freehold |
|
|
|
|
|
Type of Property |
1. Residential 2. Residential |
Residential |
|
|
|
|
|
Mortgaged for Availing Loan if any, details thereof |
1. SBI, IFB 2. Collateral in
SBI IFB |
Collateral in
SBI IFB |
|
|
|
|
|
Present Market /
Assessed Value |
Rs.6.000 Millions Rs.4.000 Millions Total Rs.10.000 Millions |
Rs.4.000 Millions |
DEPOSIT
HELD WITH BANK/ COMPANIES/ OTHER LENDER ETC.
|
Name of the Bank/ Company where deposits are held |
Paul Strips and
Tubes Private Limited |
Pauem steel
(Private) Limited and Paul Strips and Tubes (Private) Limited |
|
|
|
|
|
Present Value of
Deposits |
Rs.0.768 Millions |
Rs.1.638 Millions |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
Description |
Pauem Steels
(Private) Limited Pauem Castings
(Private) Limited Paul Strips and
Tubes (Private) Limited |
Pauem Steels
(Private) Limited Pauem Castings
(Private) Limited Paul Strips and
Tubes (Private) Limited |
|
|
|
|
|
Present Value |
Rs.23.798 Millions |
Rs.11.796 Millions |
LIFE
INSURANCE POLICIES
|
Endowment / Whole life etc. |
Endowment |
-- |
|
|
|
|
|
Present Value |
Rs.155.790 Millions yearly |
-- |
OTHER
ASSETS
|
Furniture and Fixture |
Rs.0.100 Million |
Rs.0.100 Million |
|
|
|
|
|
Cash in Hand |
Rs.0.100 Million |
Rs.0.100 Million |
|
|
|
|
|
Jewellery |
Rs.0.500 Million |
Rs.0.500 Million |
|
|
|
|
|
Other Asserts if any |
Rs.0.100 Million |
Rs.0.100 Million |
|
|
|
|
|
Present Value |
Rs.0.800 Million |
Rs.0.800 Million |
|
TOTAL ASSETS |
Rs.35.366 Millions |
Rs.18.234 Millions |
LIABILITIES
FURNISH
LOANS AVAILED FROM BANKS/ FINANCIAL INSTITUTIONS AND OTHER BORROWINGS
|
Name of the Bank/ Institution |
SBI IFB |
-- |
|
|
|
|
|
Nature/ Type of Loan |
Housing Loan on
117/122, Sarvoday Nagar, |
-- |
|
|
|
|
|
Date of Loan |
31.03.2010 |
-- |
|
|
|
|
|
Amount of Loan Availed |
Rs.1.500
Millions |
-- |
|
|
|
|
|
Security offered if any |
117/122,
Sarvodaya Nagar, |
-- |
|
|
|
|
|
Amount
Outstanding |
Rs.1.300 Million |
-- |
|
NET WORTH |
Rs.34.066 Millions |
Rs.18.234 Millions |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
|
Address of the Property |
Plot No.B-20 (Old Plot No.32), S. No.20, Hissa No.1,2,3,4A, 4B 5 and 6,
Village Undri, Taluka Haveli, District Pune. |
|
|
|
|
Purpose of Valuation |
To assess fair Market Value of the property for State Bank of |
|
|
|
|
Date of Visit |
24th April 2010 |
|
|
|
|
Name of the Owner |
Mr. Siddharta Katyal Mr. Rishi Katyal |
|
|
|
|
Property records |
Agreement / Index II Sub Registrar Haveli 11 Sr. No. 7839/2007 dated 27/09/2007. 2) Photo copy of approved plan with town planning Letter No. Layout
/NABP/ Undri/ S. No. 20(P)/ SSP/ 2902 dated 20/12/2004 by A.D.T.P. Pune and
NA order with No. FRH/ NA/ SR/ 338/04 dated 20/01/2005 by Add. Collector,
Pune. |
|
|
|
|
Comment on Property Records. |
The present owners have purchased the property from Mr. Sunil Kumar Surapaneni and Others |
|
|
|
|
Area of the Property |
The area of the plot as per the registered agreement and approved plan
provided is 468.19 Sq. M. (5039.59 Sft.) |
A] Valuation
The Fair Market Value for the property – Rs.8.070 Millions
B] Net Realizable
Value
Net Realizable Value of the Property considered at 90% of the fair
Market value is Rs.7.263 Millions.
C] Distress Value
Distress Value of the Property considered at 70% of the Fair Market
Value is Rs.5.649 Millions.
TECHNICAL
REPORT
|
Name of the Owners |
Mr. Siddharta Katyal Mr. Rishi Katyal |
|
|
|
|
Address of the Property |
Plot No.B-20 (Old Plot No.32), S. No.20, Hissa No.1, 2, 3, 4A, 4B, 5 and
6, Villager Undri, Taluka Haveli, District Pune |
|
|
|
|
Type of Ownership |
Joint Ownership |
|
|
|
|
Location of the Property |
The Property is situated near Corinthian Club, in Village Undri Area. |
|
|
|
|
Type of surrounding Area |
Residential |
|
|
|
|
Classification of surrounding area |
Middle class society. |
|
|
|
|
Brief description of the property |
The property consists of an open plot without any development at present.
The property is situated in an approved Layout. The plot has regular
rectangular shape and size with fairly levlled surface. The plot has an road
frontage of approx. 19.06 M on the internal 12.00 M wide road. The boundaries of the property are as follow: On or towards East — Plot No. B21 On or towards South — Internal Road On or towards West — Plot No.B19 On or towards North — Plot No. B28 and B29 |
|
|
|
|
Proximity to civic amenities |
Civic amenities like schools, hospitals, banks are available within
1.00 — 2.00 Km distance. |
|
|
|
|
Modes of transport to the property |
Both public and private transports are available at approx 0.50 Km.
distance. |
|
|
|
|
Water supply system |
No water supply at present. |
|
|
|
|
Electric supply |
No electricity supply at present. |
|
|
|
|
Compound wall gates and security |
No Compound wall. |
|
|
|
|
Area of the property |
The area of the Plot as per the registered agreement and approved plan
provided is 468.19 sq. m. (5039.59 sft) |
|
|
|
|
Present Condition of the Property |
The applicant’s plot is without any development at present. |
BASIS OF VALUATION
AND COMPUTATION
BASIS OF VALUATION
The government rate obtained from the office of the Sub Registrar Haveli
for the same location is (Sub Section —49/643).
For Open plot / land — Rs.6270.00 per Sq. M.
For new residential flats — Rs.20900.00 per Sq. M.
2. The market rates for the new residential flats with similar / higher
specifications in the surrounding location range between Rs.2800.00 to
Rs.3200.00 per Sft. depending upon their location, road facing, amenities,
specifications, etc.
3. The market rates for the open plot / land in the surrounding location
range between Rs.1300.00 to Rs.1600.00 per Sft. depending upon their location,
road frontage, shape, size, use, etc.
4. The property consists of an open plot without any development at
present. The property is situated in an approved layout.
5. The plot has regular rectangular shape and size with fairly leveled
surface. The plot has a road frontage of approx. 19.06 M on the internal 12.00
M wide road.
6. The property is situate near Corinthian club, in village Undri area
with middle class society in the vicinity
COMPUTATION
A] Valuation
The fair market
value of the plot.
The area of the plot as per the technical report is 5039.59 Sft.
The rule for land considered on the above basis is Rs.1600.00 per Sft.
The fair market value of the plot is 5039.59 Sft. x Rs.1600.00 per Sft.
= Rs.80,63,344.00
Say Rs.8.070 Millions
The fair market value for the property in my opinion is
Rs.8.070 Millions
B] Net Realizable
Value
Net Realizable Value of the Property considered at 90% of the fair
Market value is Rs.7.263 Millions.
C] Distress Value
Distress Value of the Property considered at 70% of the Fair Market
Value is Rs.5.649 Millions.
------------------------------------------------------------------------------------------------------------------------------
NOTE:
The Registered Office of the company has been shifted from
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
Corporate
identity number of the company |
U65921UP1985PTC007602 |
|
Name of the
company |
Paul Strips and Tubes Private Limited |
|
Address of the
registered office or of the principal place of business in |
120/98, Lajpat
Nagar, |
|
This form is for |
Modification
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
State Bank of Industrial Finance Branch, B – 13, Sarvodaya Nagar, |
|
Nature of
instrument creating charge |
· Supplemental Agreement of Loan Cum Hypothecation · Omnibus Counter Guarantee |
|
Date of
instrument Creating the charge |
22.04.2010 |
|
Amount secured by
the charge |
Rs.123.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: On working Capital
- @ 2.50% above SBAR. Present effective rate being 14.25% p.a. with monthly
rests. On Term Loan - @
3.00% above SBAR. Present effective rate being 14.75% p.a. with monthly
rests. Terms of
Repayment: (i) Working
Capital-Repayable on demand. (ii) Term
Loan-I-As per existing repayment schedule. (iii) Term
Loan-Il (New) of Rs.4.000 Millions shall be repayable in 16 quarterly
installments of Rs.0.250 Million each commencing from 01.01.2011. Interest
will be serviced as and when applied. Margin: 25% on Raw
Material-Indigenous 30% on Semi
Finished goods 25% on Finished
goods 25% on
Components/Consumables/spares 40% on Domestic
Receivables (cover period 45 days) 33% on Term Loan 20% on Bank
Guarantee Extent and
Operation of the Charge: The Company’s
assets as mentioned hereunder (As per column No.15) are hypothecated to
secure following credit facilities agg.
to Rs.123.500 Millions granted by the Bank to the Borrower: 1.CC(Stocks) *
Rs.35.000 Millions 2.CC(Book Debts)*
Rs.15.000 Millions 3.Term Loan-l(O/S)
Rs.59.500 Millions 4. Term Loan-Il
Rs.4.000 Millions 5. BG Rs.10.000
Millions TOTAL Rs.123.500
Millions *Both way
interchangeability of Rs.5.000 Millions between CC(Stocks) and CC(B/D) |
|
Particulars of
the property charged |
Hypothecation of all
present and future stocks of raw materials, stores and spares stock in
process, finished goods, goods in transit and all other movables assets and
current assets of the Borrower. Hypothecation of
all the Borrower book debts receivables, documents of title to goods,
outstanding monies bills invoices, documents, contracts, guarantee,
securities, investments and rights etc. Hypothecation of
all present and future machinery and entire fixed assets belonging to or in
the possession or control of the Borrower wherever lying, stored, kept or in
transit. |
|
Particulars of
the present modification |
The aggregate
amount of various credit facilities granted by the Bank has been enhanced
from Rs.108.200 Millions to Rs.123.500 Millions. Therefore, total amount of
charge secured against hypothecation of entire current assets, book debts,
plant and machinery, fixed assets etc. as per details mentioned in column
No.15 above has now been enhanced from Rs.108.200 Millions to Rs.123.500
Millions. |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Miscellaneous Fixed Assets
· Electrical Fittings
· Vehicles
· Furnitures and Fixtures
· Office Equipments
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.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.