MIRA INFORM REPORT

 

 

Report Date :

20.01.2011

 

IDENTIFICATION DETAILS

 

Name :

KIND SPECIAL STEELS (INDIA) PRIVATE LIMITED

 

 

Registered Office :

17/9, MIDC, Taloja, Taluka Panvel, District Raigad, Navi Mumbai – 410208, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

06.05.2009

 

 

Com. Reg. No.:

11-192217

 

 

CIN No.:

[Company Identification No.]

U51109MH2009PTC192217

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Steel

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (11)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is a relatively new company and yet to establish itself. Business is active. Payment terms are not known.

 

The company can be considered for business dealings on a secured 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)

India

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. Ramesh

Designation :

Accounts Department

Date :

18.01.2011

 

 

LOCATIONS

 

Registered Office :

17/9, MIDC, Taloja, Taluka Panvel, District Raigad, Navi Mumbai – 410208, Maharashtra, India

Tel. No.:

91-22-32961359

Fax No.:

91-22-26730659

E-Mail :

info@kindindia.net

pankaj@goelsteel.com

Area :

12000 sq. ft. [Owned]

 

 

Correspondence Address :

C – 204, Crystal Plaza, New Link Road, Lokhandwala, Mumbai – 400053, Maharashtra, India

Tel. No.:

91-22-32961359/ 26730659

Fax No.:

91-22-26730659

E-Mail :

saleswest@goelsteel.com

Area :

500 sq. ft. [Rented]

 

 

Branches :

CHENNAI
Unit1-89A, M.T.H Road, Ambattur Industrial Estate, Chennai - 600058
Phone Number : 91-44-42914848/26254814
Fax Number : 91-44-26254707
E-Mail Id : sales@goelsteel.com
goelsteel@airtelmail.in

 

Address:NH-4, Road Irrungattukottai, Sriperumbudur (Tk), Kancheepuram ( DT) - 602105
Phone Number:91-44-27156302/27107581/27156301
Fax Number:91-44-27156302
E-Mail Id : unit2@goelsteel.com

 

F8 & F9,Sipcot industrial park, Irungattukottai, Sriperambadur Taluk, Kancheepuram - 602 105, INDIA

 

Mumbai
Address:C-204 Crystal Plaza New, Link Road Lokhandwala, Andheri (W), Mumbai - 400053
Phone Number : 91-22-32961359/ 26730659
Fax Number : 91-22-26730659
E-Mail Id : saleswest@goelsteel.com

 

Faridabad
Address:44KM. Stone, Mathura Road Softa Road Vill Softa, Opp. Kwality Diary Faridabad - 121004
Phone Number : 91-129-2205041/2205051
Fax Number : 91-129-2205051
E-Mail Id : salesnorth@goelsteel.com

 

 

Sales office :

Coimbatore-14/3 Collector Sivakumar Street, Saibaba Colony, Coimbatore-641 038

Tel No. :

91-422-4385878

Email :

salescbe@goelsteel.com

 

 

DIRECTORS

 

(AS ON 30.09.2010)

 

Name :

Mr. Pankaj Puranmal Goel

Designation :

Director

Address :

5, 4th Cross Street, Sterling Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

01.11.1973

Qualification :

MBA

Date of Appointment :

06.05.2009

DIN No. :

02599774

 

 

Name :

Mr. Sanjay Puranmal Goel

Designation :

Director

Address :

5, 4th Cross Street, Sterling Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

07.01.1976

Qualification :

MBA

Date of Appointment :

06.05.2009

DIN No. :

02599771

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(AS ON 30.09.2010)

 

Names of Shareholders

 

No. of Shares

 

 

 

Mr. Pankaj Puranmal Goel

 

50000

Mr. Sanjay Puranmal Goel

 

50000

Total

 

100000

 

 

(AS ON 30.09.2010)

 

Category

 

Percentage

 

 

 

Directors or relatives of directors

 

100.00

 

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Steel

 

 

Imports :

 

Products :

Steel

Countries :

Germany

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

L/C, Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :

Corporate

 

 

No. of Employees :

8 (Approximately)

 

 

Bankers :

Punjab National Bank, Branch Vileparle (West), Mumbai – 400049

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Arun Murarka and Company

Chartered Accountants

Address :

A-104, Hemu Classic, S V Road, Malad (West), Mumbai – 400064, Maharashtra, India

 

 

Associates/Subsidiaries :

Name : Goel Steel Company

Legal Form : Partnership Firm

Year of Established : 1973

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1,000,000

Equity Share

Rs. 10/- each

Rs. 10.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100,000

Equity Share

Rs. 10/- each

Rs. 1.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

 

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

1.000

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

0.000

4] (Accumulated Losses)

 

 

(0.497)

NETWORTH

 

 

0.503

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

0.000

2] Unsecured Loans

 

 

0.040

TOTAL BORROWING

 

 

0.040

DEFERRED TAX LIABILITIES

 

 

0.000

 

 

 

 

TOTAL

 

 

0.543

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

0.000

Capital work-in-progress

 

 

0.000

 

 

 

 

INVESTMENT

 

 

0.000

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

 

0.000

 

Sundry Debtors
 

 

0.000

 

Cash & Bank Balances
 

 

0.968

 

Other Current Assets
 

 

0.000

 

Loans & Advances
 

 

0.085

Total Current Assets
 

 

1.053

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors and Other Current Liabilities
 

 

0.671

 

Provisions
 

 

0.000

Total Current Liabilities
 

 

0.671

Net Current Assets
 

 

0.382

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.161

 

 

 

 

TOTAL

 

 

0.543

 

PROFIT & LOSS ACCOUNT

 

Particulars

 

 

 

31.03.2010

 

 

 

 

Sales Turnover (Approximately)

 

 

7.100

 

 

 

 

 

Expected Sales (2010-2011) : Rs. 15.000 Millions

 

KEY RATIOS

 

PARTICULARS

 

 

 

 

31.03.2010

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

 

1.41

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

 

1.57

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

OPERATION

 

The was incorporated on 6th May, 2009. Immediately on incorporation, trading business was commenced. The recorded a maiden sales of Rs. 7.094 Millions for the period ended 31st March, 2010. The Company incurred a loss of Rs. 0.497 Million.

 

BUSINESS PROSPECTS AND FUTURE 

 

The Directors would put all out efforts in increasing the sales and improving the profitability. The Indian economy is reviving very fast. Considering the ongoing infrastructure development in the county, the demand for steel is expected to increase.  

 

 

TRADE REFERENCE

 

  • Hitachi Metals Limited
  • Graphite India Limited

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No 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.45.38

UK Pound

1

Rs.72.71

Euro

1

Rs.61.15

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

2

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

-

--CREDIT LINES

1~10

-

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

11

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.