MIRA
INFORM REPORT
|
Report Date : |
07.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
GANGA EXIM PRIVATE LIMITED |
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Registered
Office : |
6-3-347-17/5, Dwarkapuri Colony, Punjagutta, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.03.2000 |
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Com. Reg. No.: |
01-034031 |
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Capital
Investment / Paid-up Capital : |
Rs.26.703 Millions |
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CIN No.: [Company Identification
No.] |
U51909AP2000PTC034031 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDG00827B |
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PAN No.: [Permanent Account No.] |
AABCG3773A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject act as a Trader, Distributor and Dealer in all kinds and forms
of Steel including Mild, High Carbon, Spring etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B [29] |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1420000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appear to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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
|
Registered Office : |
6-3-347-17/5, Dwarkapuri Colony, Punjagutta, |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Nageshwar Reddy Lingareddy |
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Designation : |
Additional Director |
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Address : |
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Date of Birth/Age : |
29.12.1971 |
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DIN : |
02661420 |
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Date of Appointment : |
06.03.2010 |
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Name : |
Mr. Amit Mehta |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
16.09.1966 |
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DIN : |
02414776 |
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Date of Appointment : |
01.12.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 3009.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ch.Jawahar
Babu |
|
10 |
|
P.Surendra |
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10 |
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Bhagyanagar
Investments & Trading Private Limited, |
|
459600 |
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Golkonda
Finance and Trading Private Limited, |
|
451600 |
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G.B.Trading
and Investments Private Limited, |
|
493600 |
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Info
Tech Info and Trading Private Limited, |
|
451730 |
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Prime
Infoinvest Limited |
|
412033 |
|
Swain
Finance and Trading Private Limited, |
|
401740 |
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Total |
|
2670323 |
As on 30.09.2010
|
Category |
Percentage |
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Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject act as a Trader, Distributor and Dealer in all kinds and forms
of Steel including Mild, High Carbon, Spring etc. |
PRODUCTION STATUS As on 31.03.2010
[Amount in Rs.]
|
Particulars |
|
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Fans |
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- |
- |
3409 |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
UCO Bank, Surya Nagar Branch, Tolichowki, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
G.V.Suryanarayana Murthi Chartered Accountant |
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Address : |
B-166, Sanjeeva Reddy Nagar Colony, Hyderabd – 500038, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
3,000,000 |
Equity Shares |
Rs.10/-each |
Rs.30.000 Millions |
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Issued, Subscribed and Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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2,670,323 |
Equity Shares |
Rs.10/-each |
Rs.26.703
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
26.703 |
10.103 |
10.103 |
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2] Share Application Money |
0.000 |
88.435 |
0.000 |
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3] Reserves & Surplus |
329.091 |
94.702 |
93.044 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
355.794 |
193.240 |
103.147 |
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LOAN FUNDS |
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1] Secured Loans |
12.708 |
13.405 |
16.776 |
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] Unsecured Loans |
35.000 |
75.000 |
90.000 |
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TOTAL BORROWING |
47.708 |
88.405 |
106.776 |
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DEFERRED TAX LIABILITIES |
0.798 |
0.934 |
0.833 |
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INTER CORPORATE LOANS |
102.091 |
66.198 |
40.321 |
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TOTAL |
506.391 |
348.777 |
251.077 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.953 |
4.902 |
5.900 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
2.351
|
2.045 |
7.493 |
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Sundry Debtors |
846.903
|
879.477 |
426.280 |
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Cash & Bank Balances |
11.511
|
2.602 |
0.988 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
718.124
|
437.762 |
521.860 |
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Total
Current Assets |
1578.889
|
1321.886 |
956.621 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
788.663
|
824.631 |
594.625 |
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Other Current Liabilities |
286.807
|
152.698 |
116.419 |
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Provisions |
0.982
|
0.683 |
0.402 |
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Total
Current Liabilities |
1076.452
|
978.012 |
711.446 |
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Net Current Assets |
502.437
|
343.874 |
245.175 |
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MISCELLANEOUS EXPENSES |
0.001 |
0.001 |
0.002 |
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TOTAL |
506.391 |
348.777 |
251.077 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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Other Income |
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TOTAL |
3690.210 |
3266.195 |
2516.905 |
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Less |
EXPENSES |
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Purchases |
3666.645 |
3209.754 |
2482.073 |
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Payment and benefit to employees |
0.913 |
1.105 |
0.525 |
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Administrative and selling Expenses |
19.114 |
46.438 |
21.286 |
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Preliminary Expenses written off |
0.001 |
0.001 |
0.001 |
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Increase decrease in stock |
[0.307] |
5.448 |
10.437 |
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TOTAL |
3686.366 |
3262.746 |
2514.322 |
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PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.844 |
3.449 |
2.583 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.010 |
1.007 |
0.672 |
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PROFIT / LOSS
BEFORE TAX |
2.834 |
2.442 |
1.911 |
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Less |
TAX |
0.981 |
0.683 |
0.401 |
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PROFIT / LOSS
AFTER TAX |
1.853 |
1.759 |
1.510 |
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Provision for
deferred tax liability |
0.000 |
0.100 |
0.394 |
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Provision for
deferred tax assets |
0.136 |
0.000 |
0.000 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.675 |
3.016 |
1.900 |
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BALANCE CARRIED
TO THE B/S |
6.664 |
4.675 |
3.016 |
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EARNINGS IN
FOREIGN CURRENCY |
12.223 |
273.957 |
65.071 |
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IMPORTS |
490.342 |
181.225 |
0.000 |
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Earnings Per
Share (Rs.) |
0.69 |
1.74 |
1.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.05
|
0.05 |
0.06 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.08
|
0.07 |
0.08 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.18
|
0.18 |
0.20 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
0.02 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.16
|
5.52 |
7.93 |
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Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.35 |
1.34 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from 5/A, Vengal Rao Nagar,
The Registered office has again shifted from H.No.6-3-347/12,
Above Apna Bank, Dwarakapuri Colony, Punjagutta,
Company
Performance :
During the period the company has achieved a turnover of Rs.3690.210
millions and earned a net profit of Rs.1.852 millions after providing for all
expenses. The directors are hopeful to project better financial results in the
forthcoming years.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51909AP2000PTC034031 |
|
Name of the
company |
GANGA EXIM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
No.34/A,
Nagarjuna Hills,Punjagutta, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Hypothecation |
|
Particular of
charge holder |
UCO Bank, Surya Nagar Branch, Tolichowki, |
|
Nature of
instrument creating charge |
1. Sanction
Letter 2. Hypothecation
Of Goods To Secure A Demand Cash Credit Dated 25.05.2006 |
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Date of
instrument Creating the charge |
25.05.2006 |
|
Amount secured by
the charge |
Rs.15.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Cash Credit
Facility With A Margin Of 25% And Rate Of Interest Will Be Bplr 2.5= 14% Per
Annum. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Equitable
Mortgage Of The Property Situated At No 5/A, Vengal Rao Nagar, Hyderabad
-500038 Ground Floor No 18, Nagarjuna Hills, Punjagutta Hyderabad 500 082 And
Third Floor No 18, Nagarjuna Hills, Punjagutta, Hyderabad 500082 |
FIXED ASSETS :
·
Computer and software
·
Office Equipments
·
Vehicles
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.46.17 |
|
|
1 |
Rs.73.64 |
|
Euro |
1 |
Rs.64.95 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.