MIRA
INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
SUBHLABH STEELS PRIVATE LIMITED (w.e.f. 24.05.2011) |
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Formerly Known
As : |
ANUBHA STEELS PRIVATE LIMITED |
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Registered
Office : |
5/10, Poddar Nagar, Kolkata – 700 068, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.08.1981 |
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Com. Reg. No.: |
21-52566 |
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Capital
Investment / Paid-up Capital : |
Rs.20.960 Millions |
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CIN No.: [Company Identification
No.] |
U27109WB1991PTC052566 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and manufacturer of Steel founders, steel material goods, engineering
goods, iron and steel converters etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 326960 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments as
reported to be slow. The company can be considered for business dealings with some caution. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
5/10, Poddar Nagar, Kolkata – 700 068, West |
|
Tel. No.: |
91-33-22812196 |
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E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Yogesh Mehra |
|
Designation : |
Director |
|
Address : |
23A/76A, New Azipore, Block – E, Flat – 10, Kolkata - 700053, West |
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Date of Birth/Age : |
29.02.1972 |
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Date of Appointment : |
14.03.2008 |
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DIN No.: |
02093178 |
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 |
U27109WB1991PTC052566 |
SUBHLABH STEELS
PRIVATE LIMITED |
Additional
director |
14-03-08 |
14-03-08 |
- |
Active |
NO |
|
2 |
U51909WB2011PTC163724 |
Y. R. TRADERS
PRIVATE LIMITED |
Director |
14-06-11 |
14-06-11 |
- |
Active |
NO |
|
Name : |
Mr. Sumanta Bhattacharya |
|
Designation : |
Director |
|
Address : |
2C, School Row, Kolkata – 700025, West |
|
Date of Birth/Age : |
31.12.1962 |
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Date of Appointment : |
28.04.2008 |
|
DIN No.: |
00329348 |
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 |
U51506WB2000PTC091537 |
BENGAL RECYCLERS
& FABRICATORS PRIVATE LIMITED |
Director |
10-05-05 |
10-05-05 |
05-05-08 |
Active |
NO |
|
2 |
U27109WB1991PTC052566 |
SUBHLABH STEELS
PRIVATE LIMITED |
Additional
director |
28-04-08 |
28-04-08 |
04-07-11 |
Active |
NO |
|
3 |
U15412WB1982PTC035374 |
BAKEFRESH
BISCUITS PRIVATE LIMITED |
Director |
30-09-08 |
06-08-08 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Shashi Santhalia |
|
217450 |
|
Sandeep Jalan |
|
6000 |
|
Vaishali Jalan |
|
2000 |
|
Prakash Santhalia |
|
10000 |
|
Gomukhi Suppliers Private Limited, |
|
35000 |
|
Vasundhara Commodities Private Limited, |
|
30000 |
|
Pragya Vincom Private Limited, |
|
100000 |
|
Haridwar Traders Private Limited, |
|
71000 |
|
Alpha Vinimay Private Limited, |
|
65000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
88.80 |
|
Directors or relatives of Directors |
11.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and manufacturer of Steel founders, steel material goods,
engineering goods, iron and steel converters etc. |
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Products : |
Iron and Steel |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A. N. Saha and Associates Chartered Accountant |
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Address : |
Vivekanand Nagar, Madhyamgram, Kolkata – 700130, West |
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PAN.: |
ALUPS666SF |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2095950 |
Equity Shares |
Rs.10/- each |
Rs.20.960 Millions |
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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 |
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|
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|
1] Share Capital |
20.960 |
20.960 |
20.960 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
60.780 |
60.777 |
60.390 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
81.740 |
81.737 |
81.350 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
110.601 |
80.850 |
31.225 |
|
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2] Unsecured Loans |
0.179 |
1.079 |
1.006 |
|
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TOTAL BORROWING |
110.780 |
81.929 |
32.231 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
192.520 |
163.666 |
113.581 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.386 |
1.870 |
0.699 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.350 |
1.350 |
1.350 |
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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 |
121.183
|
441.934 |
318.521 |
|
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Sundry Debtors |
679.864
|
2695.516 |
2274.269 |
|
|
Cash & Bank Balances |
11.650
|
11.251 |
10.430 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
135.877
|
160.182 |
461.972 |
|
Total
Current Assets |
948.574
|
3308.883 |
3065.192 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
747.703
|
3142.500 |
2853.031 |
|
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Other Current Liabilities |
7.238
|
2.431 |
98.172 |
|
|
Provisions |
3.849
|
3.506 |
2.457 |
|
Total
Current Liabilities |
758.790
|
3148.437 |
2953.660 |
|
|
Net Current Assets |
189.784
|
160.446 |
111.532 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
192.520 |
163.666 |
113.581 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
NA |
NA |
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Other Income |
NA |
NA |
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TOTAL |
2542.055 |
4617.889 |
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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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Interest |
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Depreciation |
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|
NA |
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TOTAL |
2541.709 |
4616.381 |
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PROFIT BEFORE
TAX |
0.346 |
1.508 |
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Less |
TAX |
0.343 |
1.121 |
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PROFIT AFTER TAX
|
0.003 |
0.387 |
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|
Earnings Per
Share (Rs.) |
0.01 |
0.18 |
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.00
|
0.00 |
-- |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.01 |
-- |
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
-- |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
10.64
|
39.52 |
38.08 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.05 |
1.04 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONAL REVIEW
Company’s working during the year was satisfactory. The Board expects to
do better business in the future.
NOTE :
The company changed its registered office from “18/1, Maharshi Devendra
Road, Kolkata- 700007, West Bengal, India” to “1, British Indian Street, 2nd
Floor, Kolkata – 700069, West Bengal, India” w.e.f. 10.08.2007. The registered
office has again sifted from “1, British Indian Street, 2nd Floor,
Kolkata – 700069, West Bengal, India” to “5/10, Poddar Nagar, Kolkata – 700
068, West Bengal, India” w.e.f. 01.07.2011
FORM 8
|
Corporate
identity number of the company |
U27109WB1991PTC052566 |
|
Name of the
company |
ANUBHA STEELS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5/10, Poddar Nagar, Kolkata – 700 068, West E-Mail Id : rajkjalan29@gmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
80055739 |
|
Type of charge |
|
|
Particular of
charge holder |
Indian Overseas E-Mail Id :
ieplcbr@calmsco.iobnet.co.in |
|
Nature of instrument
creating charge |
F 107A (Letter of
Hypothecation for Book Debts). F 110E (Letter of
Hypothecation for securing Machineries/ Vehicles/ Goods/ Book Debts). |
|
Date of
instrument Creating the charge |
01/09/2009 |
|
Amount secured by
the charge |
Rs.130.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate
of interest Short Term Loan :
BPLR + 0.50% presently 12.50% at monthly rests. Terms
of repayment The Short Term Loan
has been sanctioned for a period of only 6 months. Margin Short Term Loan :
NIL. Extent
and operation of the charge The Charge
extends on the entire Current Assets of the company and operates till the
limits mentioned herein are satisfied in full. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
Stocks, Book Debts and all other current assets of the company, both present
and future. |
|
Particulars of
the present modification |
This is the first
modification of the original charge. By this
modification the overall limit stands modified and enhanced from Rs.80.000
Millions to Rs.130.00 Millions with details as herein below: Cash Credit : Rs.80.000 Millions (remains same
at Rs.80.000 Millions) Short Term Loan :
Rs.50.000 Millions (Fresh) Overall
Limit : Rs.130.000 Millions
(enhanced from Rs.80.000 Millions) |
FIXED ASSETS
- Furniture and Fixtures
- Motor Car
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.47.81 |
|
|
1 |
Rs.75.16 |
|
Euro |
1 |
Rs.65.11 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.