1. Summary Information
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Country |
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Company Name |
METAL SCOPE INDIA
PRIVATE LIMITED |
Principal Name 1 |
Mrs. Vaithiya Nathan Malliga |
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Status |
Satisfactory |
Principal Name 2 |
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|
Registration # |
59-001909 |
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Street Address |
R.S.No. 17/2, 17/5, 17/6, 17/7, 7th Cross, Omsakthi
Industrial Estate, Sedarapet, |
||
|
Established Date |
24.10.2005 |
SIC Code |
-- |
|
Telephone# |
91-413-2677852 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-413-2677851 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Metal Roofing |
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|
# of employees |
Not Available |
Product Name 2 |
- |
|
Paid up capital |
Rs.5,000,000/- |
Product Name 3 |
- |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
The Federal Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
6 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (44) |
|
Related
Company |
|||
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Relation
|
Country
|
Company
Name |
CEO |
|
Related
Party |
- |
Royal Industrial Corporation |
- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
65,752,000 |
Current Liabilities |
66,109,000 |
|
Inventories |
55,919,000 |
Long-term Liabilities |
28,946,000 |
|
Fixed Assets |
34,794,000 |
Other Liabilities |
2,111,000 |
|
Deferred Assets |
0 |
Total Liabilities |
97,166,000 |
|
Invest& other Assets |
31,000 |
Retained Earnings |
54,330,000 |
|
|
|
Net Worth |
59,330,000 |
|
Total Assets |
156,496,000 |
Total Liab. & Equity |
156,496,000 |
|
Total Assets (Previous Year) |
110,121,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales / Total Income |
327,462,000 |
Net Profit |
13,562,000 |
|
Sales (Previous year) / Total Income |
207,871,000 |
Net Profit
(Previous year) |
11,017,000 |
MIRA
INFORM REPORT
|
Report Date : |
29.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
METAL SCOPE INDIA PRIVATE LIMITED |
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Formerly Known As : |
METCO FAB ( |
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Registered Office : |
R.S.No. 17/2, 17/5, 17/6, 17/7, 7th Cross, Omsakthi
Industrial Estate, Sedarapet, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
24.10.2005 |
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Com. Reg. No.: |
59-001909 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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|
|
|
CIN No.: [Company
Identification No.] |
U27209PY2005PTC001909 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Metal Roofing |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 237000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office/ Factory : |
R.S.No. 17/2, 17/5, 17/6, 17/7, 7th Cross, Omsakthi
Industrial Estate, Sedarapet, |
|
Tel. No.: |
91-413-2677852 |
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Fax No.: |
91-413-2677851 |
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E-Mail : |
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Website: |
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Corporate Office 1 : |
No 22, |
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Tel. No.: |
91-413-2242443 |
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Fax No.: |
91-413-2242426 |
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Corporate Office 2 / Head Office : |
No. 252, Anand Ranga, Pillai Nagar, Kamaraj Salai, |
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Tel. No.: |
91-413-2242443/2244435 |
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Fax No.: |
91-413-2244435 |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mrs. Vaithiya Nathan Malliga |
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Designation : |
Managing Director |
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Address : |
42, |
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Date of Birth/Age : |
03.10.1942 |
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Date of Appointment : |
24.10.2005 |
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DIN : |
01710858 |
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Name : |
Mrs. S Malliga |
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Designation : |
Managing Director |
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Address : |
42, |
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Date of Birth/Age : |
17.07.1965 |
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Date of Appointment : |
24.10.2005 |
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Name : |
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Designation : |
Whole-time Director |
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Address : |
42, |
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Date of Birth/Age : |
04.06.1989 |
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Date of Appointment : |
24.10.2005 |
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DIN : |
01710961 |
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Other Directorship : |
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Name : |
Mr. Chidambaram Thaiyalnayagi |
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Designation : |
Wholetime Director |
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Address : |
42, |
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Date of Birth/Age : |
03.10.1942 |
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Date of Appointment : |
24.10.2005 |
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DIN : |
01710769 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mrs. S Malliga |
34000 |
|
|
15000 |
|
Mrs. V Thiyalnayaki |
1000 |
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Total |
50000 |
AS ON 26.09.2011
|
Equity Share
Break Up Category |
Percentage |
|
Directors or
relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Metal Roofing |
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Products : |
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
Utilized Capacity |
|
Cold Form |
M.T./p.a. |
14200 |
2663 |
|
Fabrication |
M.T./p.a. |
8000 |
2482 |
Note : Installed
capacities are as certified by management and have not been verified by the
auditors as this is a technical matter.
PRODUCTION STATUS [As on 31.03.2011]
|
Particulars |
Unit |
Actual
Production |
|
Iron and Steel Structural |
M.T. |
2478.40 |
|
Iron and Steel Sheets |
M.T. |
2662.81 |
|
Iron and Steel Strips |
M.T. |
3.21 |
GENERAL INFORMATION
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Customers : |
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No. of Employees
: |
Not Available |
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Bankers : |
·
The Federal Bank Limited, No.315, Maraimalai
Adigal Salai, Nellithope, Pondicherry-605001, ·
Cholamandalam DBS Finance Limited, Dare House, |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
Small Industries Development Bank of |
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Auditors : |
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Name : |
Sriram Ramchandran and Associates Chartered Accountants |
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Address : |
19/31 A, Subbarayalu Nagar, |
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PAN : |
ABRFS9829D |
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Related Parties : |
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CAPITAL STRUCTURE
AS ON 26.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
50,000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
50,000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
SHAREHOLDERS FUNDS |
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|
|
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|
1] Share Capital |
5.000 |
5.000 |
5.000 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
54.330 |
40.768 |
29.752 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
59.330 |
45.768 |
34.752 |
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LOAN FUNDS |
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|
1] Secured Loans |
28.266 |
35.046 |
20.486 |
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2] Unsecured Loans |
0.680 |
2.480 |
2.880 |
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TOTAL BORROWING |
28.946 |
37.526 |
23.366 |
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DEFERRED TAX LIABILITIES |
1.100 |
0.919 |
0.377 |
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TOTAL |
89.376 |
84.213 |
58.495 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.794 |
31.867 |
22.198 |
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Capital work-in-progress |
0.000 |
0.000 |
0.438 |
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INVESTMENT |
0.031 |
0.029 |
0.027 |
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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 |
55.919
|
23.008
|
11.902
|
|
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Sundry Debtors |
41.643
|
44.334
|
40.333
|
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Cash & Bank Balances |
16.270
|
6.208
|
6.540
|
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Other Current Assets |
0.000 |
0.000 |
0.000 |
|
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Loans & Advances |
7.839
|
4.675
|
2.747
|
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Total
Current Assets |
121.671
|
78.225
|
61.522
|
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
54.453
|
19.844
|
18.060
|
|
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Current Liabilities |
11.656
|
4.502
|
2.733
|
|
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Provisions |
1.011
|
1.562
|
4.897
|
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Total
Current Liabilities |
67.120
|
25.908
|
25.690
|
|
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Net Current Assets |
54.551
|
52.317
|
35.832
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
89.376 |
84.213 |
58.495 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Sales and Other Income |
327.462 |
207.871 |
208.268 |
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TOTAL |
327.462 |
207.871 |
208.268 |
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Less |
EXPENSES |
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|
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
306.929 |
190.895 |
183.345 |
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PROFIT BEFORE
TAX |
20.533 |
16.976 |
24.923 |
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Less |
TAX |
6.971 |
5.959 |
9.048 |
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|
PROFIT AFTER TAX |
13.562 |
11.017 |
15.875 |
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BALANCE CARRIED
TO THE B/S |
13.562 |
11.017 |
15.875 |
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IMPORTS |
|
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|
|
Capital Goods [including Spares and components] |
1.393 |
3.315 |
2.594 |
|
|
|
Raw Material |
0.000 |
0.000 |
11.977 |
|
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TOTAL IMPORTS |
1.393 |
3.315 |
14.571 |
|
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|
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|
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|
Earnings Per
Share (Rs.) |
271.23 |
220.33 |
317.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.14
|
5.30
|
7.62 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.12
|
15.42
|
29.77 |
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|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.37
|
0.72 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.62
|
1.38
|
1.41 |
|
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|
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|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
3.02
|
2.39 |
LOCAL AGENCY FURTHER INFORMATION
CONTINGENT LIABILITIES (AS ON 31.03.2011)
- Liability on letter of credit opened by bank Rs. 34.700 millions
[previous year Rs.4.500 millions]
- Liability on guarantees given by banks Rs.10.600 millions [previous year
Rs.10.100 millions]
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27209PY2005PTC001909 |
|
Name of the
company |
METAL SCOPE INDIA
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
R.S.No.17/2,
17/5, 17/6, 17/7, 7th
Cross, Omsakthi Industrial Estate, Sedarapet, Pondichery - 605111, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Small Industries Development Bank of |
|
Nature of
instrument creating charge |
Loan Agreement
dated 09.09.2011, Deed of Hypothecation dated 09.09.2011. |
|
Date of
instrument Creating the charge |
09.09.2011 |
|
Amount secured by
the charge |
Rs.10.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest - 0.50% over SIDBI Prime Lending Rate, Current
SIDBI's PLR-12.75% p.a, Current effective rate of interest-13.25% p.a in
addition to penal interest at the rate of 2 % p.a. for non payment of
installment Terms of Repayment
- Term loan repayable in 60 monthly installments comprising first 59 monthly
installments of Rs.0.167 million each and last installment of Rs.0.165
million commencing after six months from the date of first disbursement. Margin - Raise and utilize in the project the entire promoter
contribution of Rs.4.400 millions by
way of internal accruals and furnish a Chartered Accountant's certificate to
the satisfaction of SIDBI. As
mentioned in the LOI/Loan agreement. Extent and
Operation of the charge - The loan together with interest, costs, expenses,
penal interest and all other monies due and payable by the borrower shall be
secured by First charge by way of hypothecation of all the movable including
plant, machinery and equipment acquired/ to be acquired under the project/
scheme. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Plant and
Machinery and equipment acquired/ to be acquired under the project/scheme situated
at R.S. No.17/2, 17/5, 17/6,17/7, 7th |
FORM 8:
|
This form is for |
Creation of
charge |
|
Charge
identification number of the modified |
-- |
|
Corporate identity
number of the company |
U27209PY2005PTC001909 |
|
Name of the
company |
METAL SCOPE INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
R.S.No.17/2,
17/5, 17/6, 17/7, 7th Cross,
Omsakthi Industrial Estate, Sedarapet, Pondichery - 605111, |
|
Type of charge |
Volkswagen Car,
Model Jetta 1.9 TDI. |
|
Particular of
charge holder |
The Federal Bank
Limited No.315, Maraimalai
Adigal Salai, Nellithope, Pondicherry-605001 |
|
Nature of
description of the instrument creating or modifying the charge |
Loan Agreement
for purchase of Volkswagen Car, Model Jetta 1.9 TDI Trend line MT. |
|
Date of
instrument Creating the charge |
22.05.2009 |
|
Amount secured by
the charge |
Rs.1.000 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 11.75% - Fixed
Rate interest. Terms of
Repayment 36 monthly
installments commencing from 22.06.2009. Margin As per agreement.
and disbursement letter. Extent and
Operation of the charge The charge covers
the credit facility of Rs.10,00,000/- for the purchase of Volkswagen Car,
Model Jetta 1.9 TDI Trend line MT |
|
Short particulars
of the property charged |
Volkswagen Car,
Model Jetta 1.9 TDI Trend line MT valued at Rs.1.384 Millions |
FIXED ASSETS:
- Building
- Computer and Accessories
- Furniture and Fixtures
- Plant And Machinery
- Motor Vehicle
- Compound Wall
Web Details
Company Profile
Established around in 1980' as Royal Fab, they started their noble profession in the field of fabrication and have dealt with several complicated and time bound successful projects within no time, now with a fine set up area of 100000 sqft for production alone. Initially a project is done by designing and detailing by high-tech and highly skilled engineers by incorporating the most latest technological design software matching Indian and international standards. However big and complicated a project is their engineers will successfully face the challenge. Their philosophy and trend is to build a qualitative product, back it up with great service, and erect every building right and flawless on the first moment itself. The Metal Scope focuses on quality and service results in metal building systems with solid advantages including fast-response design and estimating software, more detailed drawings , fewer components to erect, complete steels buildings delivered in time, and faster completion schedules.
Metal Scope's proud on fast and detailed erection after approval, permitting anchor bolt drawings after clarification.
Metal Scope archives a variety of standard design such as AISC, and many others to suit customer needs of a Pre-Engineered Building at any place under the Sun. Their engineers can design steel building kits to meet all seismic, wind and snow loads throughout the country and abroad. Metal Scope provides complete design-build services as well as installation. The design-build approach, beginning with the initial planning phases, can maximize project value and savings. And, with Metal Scope pricing, they can be fully prepared in the design stage. Metal Scope's consistent efforts in research and development have positioned the origination as a lead winner in introducing innovative ideas and products in market place. They seldom try to deliver a cheapest building across the market, because they achieve what they pay for. Instead, they always deliver a top quality building at a very competitive price.
They have complimented their strategy of providing single point responsibility for supply and erection with highly motivated and trained in house project management team to handle projects, whether it's small or big, simple or complex.
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.48.82 |
|
|
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.