1. Summary Information
|
|
|
Country |
|
|
Company Name |
NEEL METAL
PRODUCTS LIMITED |
Principal Name 1 |
Mr. Surendra
Kumar Arya |
|
Status |
Good |
Principal Name 2 |
Mr. Nishant Arya |
|
|
|
Registration # |
55-86432 |
|
Street Address |
601, Hemkunt
Chambers, 89, |
||
|
Established Date |
04.04.1997 |
SIC Code |
-- |
|
Telephone# |
91-11-26427104 -
06 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-11-26427100 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
sheet metal
components |
|
|
# of employees |
800 [Approximately] |
Product Name 2 |
assemblies |
|
Paid up capital |
Rs.112,520,000/- |
Product Name 3 |
sub assemblies
and blanks. |
|
Shareholders |
Directors / Relatives Of Directors – 32.22% Bodies Corporate-67.78% |
Banking |
Axis bank Yes Bank State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
14 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A [61] |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary |
|
ANS Steel Tubes Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,307,610,000 |
Current Liabilities |
1,477,505,000 |
|
Inventories |
606,426,000 |
Long-term Liabilities |
1,143,566,000 |
|
Fixed Assets |
1,754,488,000 |
Other Liabilities |
314,119,000 |
|
Deferred Assets |
0 |
Total Liabilities |
2,935,190,000 |
|
Invest& other Assets |
1,028,779,000 |
Retained Earnings |
1,649,593,000 |
|
|
|
Net Worth |
1,762,113,000 |
|
Total Assets |
4,697,303,000 |
Total Liab. & Equity |
4,697,303,000 |
|
Total Assets (Previous Year) |
3,613,382,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
7,977,393,000 |
Net Profit |
496,155,000 |
|
Sales(Previous yr) |
6,470,726,000 |
Net Profit(Prev.yr) |
263,731,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEEL METAL
PRODUCTS LIMITED [w.e.f. 26.03.1999] |
|
|
|
|
Formerly Known
As : |
EXCELLENT
SERVICES LIMITED |
|
|
|
|
Registered Office : |
601, Hemkunt
Chambers, 89, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
04.04.1997 |
|
|
|
|
Com. Reg. No.: |
55-86432 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.112.520
millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1997PLC086432 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RTKN00867G |
|
|
|
|
Legal Form : |
A closely Held
Public Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer and Exporter
of sheet metal components, assemblies, sub assemblies and blanks. |
|
|
|
|
No. of Employees : |
800 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
A [61] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavorable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
|
|
|
|
|
|
Maximum Credit Limit : |
USD 7040000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established company having fine track. General Financial Position is good.
Trade relations are reported as fair. Business is active. Payments are
reported to be 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
601, Hemkunt
Chambers, 89, |
|
Tel. No.: |
91-11-26427104 -
06 |
|
Fax No.: |
91-11-26427100 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
|
Thai Summit Neel Auto Private Limited, Behrampur Industrial Area, Begampur Khatola Road, Khandsa Village, Gurgaon-122001, Haryana, India |
|
Tel. No.: |
91-124-4199500-507 |
|
Fax No.: |
91-124-4199548-49 |
|
|
|
|
Factory 1 : |
Mohammadpur, Jharsa,
Sector 36, Near |
|
Tel. No.: |
91-124-4275055 /
4032011/ 13 |
|
Fax No.: |
91-124-2370987 |
|
|
|
|
Factory 2: |
Sector-36,
Mohmmadpur Jharsa, Near |
|
Tel No: |
91-124-4032011 / 4032013 /
2370985 / 2370986 |
|
Fax No: |
91-124-2370989 |
|
|
|
|
Factory 3 : |
Plot No. 268,
Secuter – 24, |
|
Tel. No.: |
91-129-5067013 |
|
Location : |
Owned |
|
|
|
|
Factory 4: |
4-6 and 11-16, Sector-5,
Integrated Industrial Estate Ranipur, Haridwar-249403, , |
|
Tel No.: |
91-1334-239215/
239214 |
|
Fax No.: |
91-1334-239185 |
|
|
|
|
Factory 5: |
Plot No. 8,
Sector-10, I.I.E, S.I.D.C.U.L, Udham Singh Nagar, Pantnagar-263153, |
|
Tel No.: |
91-5944-250051 |
|
Fax No.: |
91-5944-250050 |
|
|
|
|
Plant: |
Plot No.5, Maruti Joint Venture Complex, Gurgaon
– 122 015, Haryana. |
|
Tel No: |
91-124-2398446 / 2398448 |
|
Fax No: |
91-124-2341321 |
|
|
|
|
Plant: |
Sector-36, Mohmmadpur Jharsa, Near |
|
Tel No: |
91-124-2370612 / 2370615 |
|
Fax No: |
91-124-2371356 |
DIRECTORS
As on 23.09.2010
|
Name : |
Mr. Surendra
Kumar Arya |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
Neelanchal No.7, |
|
Date of Birth/Age : |
10.11.1957 |
|
Date of Appointment : |
01.05.2002 |
|
DIN : |
00004626 |
|
E-mail : |
|
|
|
|
|
Name : |
Mr. Nishant Arya |
|
Designation : |
Director |
|
Address : |
Neelanchal No.7, |
|
Date of Birth/Age : |
01.11.1986 |
|
Date of Appointment : |
04.06.2005 |
|
DIN : |
00004954 |
|
E-mail : |
|
|
|
|
|
Name: |
Mr. Vinay
Maheshwari |
|
Designation: |
Director |
|
Address : |
702, |
|
Date of
Birth/Age : |
13.09.1954 |
|
Date of
Appointment : |
10.01.2007 |
|
DIN : |
01277826 |
|
|
|
|
Name : |
Ms. Esha Arya Juhujhunwala |
|
Designation : |
Whole Time Director |
|
Address : |
Neelanchal # 7, Bandh Road, Chandan Hulla Mehrauli, New Delhi-110030, |
|
Date of Birth/Age : |
16.03.1982 |
|
Date of Appointment : |
31.07.2009 |
|
DIN : |
00004836 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Gupta |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 703,
Plot No.7GH, Green Wood, Society, Sector – 47, Gurgaon – 122001, |
|
Date of Birth/Age : |
15.06.1969 |
|
Date of Appointment : |
01.04.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 23.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Equity Shares |
|
|
|
Nishant Arya |
|
91000 |
|
SMC Credits
Limited, |
|
965000 |
|
A to Z Securities
Limited, |
|
965000 |
|
Surendra Kumar
Arya |
|
2985999 |
|
ANS Holding
Private Limited, |
|
4680000 |
|
Neelam Arya |
|
65000 |
|
Esha Arya |
|
1 |
|
|
|
|
|
Total |
|
9752000 |
|
Names of Shareholders |
|
No. of Shares |
|
Preferences Shares |
|
|
|
JFE Steel
Corporation |
|
100000 |
|
Corp One Metal |
|
50000 |
|
|
|
|
|
Total |
|
150000 |
Equity Shares Break up as on 23.09.2010
|
Sr.No. |
Category |
Percentage |
|
|
|
|
|
1. |
Directors / Relatives Of Directors |
32.22 |
|
2. |
Bodies Corporate |
67.78 |
|
|
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of sheet metal components, assemblies, sub assemblies and blanks. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit for Installed Capacity |
Installed
Capacity |
Unit for Actual Production |
Actual
Production |
|
Sheet Metal Components and Blanks |
MT. |
279100 |
Nos. |
72501122 |
|
Muffler Assembly and Sub Assembly |
MT. |
27200 |
Nos. |
9280127 |
|
Tubes and Tubular Components |
MT. |
21000 |
MT. |
13940 |
|
Painted Assemblies |
Nos. |
78000 |
Nos. |
33252 |
|
Sheet Metal Assemblies and Sub Assemblies |
Nos. |
25000 |
Nos. |
350 |
|
Others |
MT. |
2500 |
Nos. |
1784535 |
GENERAL INFORMATION
|
Customers : |
OEM’s |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
800 [Approximately] |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
1) External Commercial Borrowings are secured
by hypothecation of movable fixed assets of the company and by way of first pari
passu charge on the immovable fixed assets of the company and also secured by
second pari passu charge on the current assets of the company. 2) Term Loan is secured by way of first pari
passu charge on the movable fixed assets of the company and by way of the
first pari passu charge on the immovable fixed assets of the company and also
secured by second pari passu charge on the current assets of the company. 3) Working Capital Demand Loan, Bills
Discounting, Cash Credit and Buyer Credit are secured by first paripassu
charge over current assets of the company and also secured by second
paripassu charge on the movable and immovable fixed assets of the company
except yes bank buyers credit for Rs.67.704 million secured only by second
pari passu charge on the movable assets of the gurgaon plant and working
capital demand loan from DBS bank of Rs.150.000 million is secured only by
second pari passu charge on the movable assets of gurgaon and pant nagar
plant. 4) Vehicle Loan from Banks are secured by way
of hypothecation of respective vehicle. |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
Banking
Relations : |
-- |
||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
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|
Auditors : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Statutory
Auditor Name : |
Sahni Natarajan
and Bahl Chartered
Accountants |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
303, Mansarovar, |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Tel. No.: |
91-11-26484835 /
2643495926224755/ 26433003/ 3004/ 3006/ 47347000 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Fax No.: |
91-11-26485081 |
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|
E-Mail : |
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|
|
|
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Joint Venture: |
|
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
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Associates: |
|
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Associates/Subsidiaries : |
CIN : U13203DL2007PLC164433
CIN : U74140DL2007PTC158597
CIN : U28910DL2008PLC185040 JBM Motors Limited CIN : U28910DL2008PLC185040 JBM Cadmium Private Limited CIN : U80302DL2009PTC190802 |
||||||||||||||||||||||||||||||||||||||||||||||||
CAPITAL STRUCTURE
As
on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000 Millions |
|
200,000 |
Non-Cumulative Preferences Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 200.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,752,000 |
Equity Shares |
Rs. 10/- each |
Rs. 97.520 Millions |
|
100,000 |
4%Non-Cumulative Redeemable Preferences Shares [08.09.2012] |
Rs. 100/- each |
Rs. 10.000 Millions |
|
50,000 |
4%Non-Cumulative Redeemable Preferences Shares [25.09.2013] |
Rs. 100/- each |
Rs. 5.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 112.520 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 |
112.520 |
112.520 |
112.520 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1649.593 |
1171.254 |
925.340 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1762.113 |
1283.774 |
1037.860 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1143.566 |
903.554 |
844.002 |
|
|
2] Unsecured Loans |
0.000 |
103.110 |
154.232 |
|
|
TOTAL BORROWING |
1143.566 |
1006.664 |
998.234 |
|
|
DEFERRED TAX LIABILITIES |
240.700 |
227.348 |
203.218 |
|
|
|
|
|
|
|
|
TOTAL |
3146.379 |
2517.786 |
2239.312 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1754.488 |
1543.511 |
1400.847 |
|
|
Capital work-in-progress |
128.760 |
94.009 |
52.422 |
|
|
|
|
|
|
|
|
INVESTMENT |
900.019 |
523.345 |
415.530 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
606.426
|
389.700
|
437.674
|
|
|
Sundry Debtors |
687.270
|
460.409
|
566.015
|
|
|
Cash & Bank Balances |
26.431
|
91.260
|
4.183
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
593.909
|
511.148
|
369.383
|
|
Total
Current Assets |
1914.036
|
1452.517
|
1377.255
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
149.961
|
118.322
|
95.045
|
|
|
Sundry Creditors |
1327.544
|
947.987
|
871.645
|
|
|
Provisions |
73.419
|
29.287
|
40.052
|
|
Total
Current Liabilities |
1550.924
|
1095.596
|
1006.742
|
|
|
Net Current Assets |
363.112
|
356.921
|
370.513
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3146.379 |
2517.786 |
2239.312 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7977.393 |
6470.726 |
5481.768 |
|
|
|
Other Income |
52.755 |
83.036 |
222.830 |
|
|
|
TOTAL (A) |
8030.148 |
6553.762 |
5704.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials Consumed |
6396.993 |
5152.273 |
4324.475 |
|
|
|
Manufacturing, Administrative and Other Expenses |
508.263 |
399.881 |
354.526 |
|
|
|
Employee Cost |
453.400 |
323.790 |
249.122 |
|
|
|
Stock Adjustments |
(158.217) |
(1.300) |
(13.704) |
|
|
|
TOTAL (B) |
7200.439 |
5874.644 |
4914.419 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
829.709 |
679.118 |
790.179 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.140 |
219.022 |
89.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
774.569 |
460.096 |
700.549 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
132.446 |
95.754 |
84.624 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
642.123 |
364.342 |
615.925 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
145.968 |
100.611 |
191.126 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
496.155 |
263.731 |
424.799 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1026.755 |
807.214 |
442.886 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General Reserve |
49.700 |
26.374 |
2.613 |
|
|
|
Proposed Dividend [Equity and Preference
shares] |
15.228 |
15.228 |
15.378 |
|
|
|
Tax on Dividend [Equity and Preference
shares] |
2.588 |
2.588 |
42.480 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1455.394 |
1026.755 |
807.214 |
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
595.092 |
765.773 |
545.016 |
|
|
|
Stores & Spares |
4.177 |
2.109 |
5.698 |
|
|
|
Capital Goods |
1.956 |
34.157 |
7.937 |
|
|
TOTAL IMPORTS |
601.225 |
802.039 |
558.651 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
50.81 |
26.97 |
44.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
6.18
|
4.02
|
7.45
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.05
|
5.63
|
11.24
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.50
|
12.16
|
22.17
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.28
|
0.59
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.53
|
1.64
|
1.93
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.33
|
1.37
|
LOCAL AGENCY FURTHER INFORMATION
Note:
The Register office of the company has been shifted from Neel House,
Lado Sarai, Opposite Qutab Minar, New Delhi-110030,
Contingent
Liabilities :
Contingent liabilities not provide for
[Rs.in million]
|
Particulars |
31.03.2010 |
31.03.2009 |
|
a) Letters of Credit outstanding |
456.281 |
232.510 |
|
b) Excise Cases pending adjudication |
1607.042 |
77.339 |
|
C) Extern4 Development Charges claimed by Director, Town
and Country planning, and
Government of Haryana relating to Company's properties situated at
Mohammadpur Jharsa, Sector 36,
Gurgaon. The Company has filed a special leave petition with Hon. Supreme
Court of India against the demand which
has been accepted by the Court subject to deposit of Rs..1.068
millions, being 25% of the claim amount. The said amount has been deposited
by the Company during the Financial
Year 2003-2004. No provision for the balance is considered necessary by the Company. |
3.203 |
3.203 |
|
d) Bank Guarantee provided on behalf of a subsidiary company as a performance surety for a contract |
10.000 |
15.000 |
|
e) Bank Guarantee provided as a
performance surety for a Tender |
0.000 |
1.500 |
Review of
Performance:
During the year, the Company achieved Gross Sales of Rs. 8680.1 9 Million (Previous year Rs. 7328.06 Million) and Net Sales of Rs. 7977.39 Million (Previous year Rs. 6470.73 Million) recording an increase of 18.45% & 23.28% respectively as compared to the previous year. The Profit after Tax of the Company stood at Rs. 496.16 Million (Previous year Rs. 263.73 Million).
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1997PLC086432 |
|
Name of the
company |
NEEL METAL
PRODUCTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
601, Hemkunt
Chambers, 89, |
|
This form is for |
Modification of
Charge |
|
Charge
identification (ID) number of the charge to be modified |
10215395 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Axis Bank
Limited, 4/10, OPG House, |
|
Nature of
instrument creating charge |
1) Hypothecation
Agreement for Creating sub limit of Letter of Credit by way of buyers LOU –
Capex of Rupees 50.000 millions |
|
Date of
instrument Creating the charge |
10.03.2011 |
|
Amount secured by
the charge |
Rs. 250.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter Terms of
Repayment As per sanction
letter Margin As per sanction
letter Extent and Operation
of the charge First pari passu
charge by way of hypothecation over current asserts, stocks and book debts
and subservient charge on machinery and other movable fixed assets. |
|
Short particulars
of the property charged |
First pari passu
charge by way of hypothecation over entire current assets to secure LC
facility of Rs. 200.000 Millions (With BG facility of Rs. 50.000 Millions and
LOU/SBLC of Rs. 150.000 Millions as sub limit of LC) And Sub Servient
Charge on entire machinery and other movable fixed assets situate at any
place including- a) Sector 36, Mohammadpur Jharsa, Gurgaon
(Haryana) b) Plot No. 4-5, Sector 5, Integrated
Industrial Estate, Haridwar (Uttaranchal) c) Plot No. 8, Sector-10, IIE Pantnagar,
Rudrapur, Udhamsingh Nagar To secure letter of
Credit facility of Rs. 50.000 Millions |
Fixed Assets :
- Land Freehold
- Land Lease
Hold
- Building
- Plant and
Machinery
- Furniture,
Fixture and Office Equipment
- Computer and
Computer System
- Vehicle
WEB DETAILS :
COMPANY PROFILE :
Subject is one of the fastest growing companies of the JBM
group with diversified product profile established 8 plants at various
locations. It also boasts of a one of its kinds Steel Service Centre handling
up to 1500 T per month.
Subject has a wide range of presses up to 500 T with 3-axis and 5-axis laser
cutting machines and welding equipment and is able to cater to most stringent
requirements of customers.
Plant
Particulars
Steel Service Centre - The Company
has 4 blanking lines capable of producing blanks of regular and irregular
geometrical shapes and sizes upto 1600 mm width within +0.1 mm accuracy. Cut to
length (CTL) facility is able to handle coils of width up to 1600 mm.
Exhaust Systems - Ultra modern
facility for 2-wheeler exhaust systems with a capacity of manufacturing 2500
mufflers/day includes robotic welding and heat resistance painting.
Motorcycle rims - Rim rolling line
from
Welding Jigs & Fixtures -
Facilities to design manufacture and do real time testing of welding and
checking fixtures. Current facility can produce 200 fixtures p.a.
Tubes - Tube mills to manufacture
Electrical Resistance Welding (ERW) tubes ranging from 12.7 - 76 mm diameter.
Cold Rolled Continuously Annealed (CRCA), stainless steel and aluminised tubes
of 0.5 - 8m length. Slitting machine is available to support manufacture of
various sizes of tubes.
Vehicle Assembly - Capability to
produce complete 3-wheeler bodies.
HISTORY :
Mr. Surendra Kumar Arya
founded the JBM Industries in 1983 with the launch of Gurera Gas Cylinders
Limited at
The business history of Arya family has roots in the decision of Seth Shri
Rameshwar Das of village Gurera in Hissar, Haryana. About seven decades back he
started the textile business under the name of Jay Bharat Fabrics after getting
inspired by Mahatma Gandhi’s ‘Swadeshi Movement (Use of indigenous product).
With its qualitative production and market acceptability the venture flourished
leaps and bounds opening wings in various cities especially in the Eastern and
Western parts of the
The patriotism of the family has received strength with the growth of the
family business. In line with this spirit the family has contributed in the
villages by way of establishing hospitals, schools, community centers, drinking
water facilities, religious places, etc.
Some 50 years earlier, a stalwart of the family, Shri Ram Richhpal Agarwal
moved to Mumbai to carry forward the family business. His son Surendra Kumar
Arya, a Science graduate from
In the year 1986 a joint venture with Maruti Suzuki was signed for
manufacturing sheet metal components and sub assemblies. This proved to be the
turning point in the development of JBM Group and its march towards achieving
new highs continued with confidence and commitment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.78 |
|
|
1 |
Rs.73.42 |
|
Euro |
1 |
Rs.65.27 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
61 |
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.