|
Report Date : |
18.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
EEFCO METAL AND POWDERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7/1A, Grant Lane, Kolkata – 700012, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.12.1996 |
|
|
|
|
Com. Reg. No.: |
21-082204 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.430 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101WB1996PTC082204 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Automobiles Castings, Components, S. G. Grey
Iron. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 70000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate trade. Profitability
of the company appears to be low. 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
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Rajesh Kumar |
|
Designation : |
Director |
|
Contact No.: |
91-9334614081 |
|
Date : |
12.04.2012 |
LOCATIONS
|
Registered Office : |
7/1A, Grant Lane, Kolkata – 700012, West Bengal, India |
|
Tel. No.: |
91-33-22371405 |
|
Mobile No.: |
91-9334614081 (Mr. Rajesh Kumar) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
A/116, PHASE 1, Industrial Area, Aditaybor
Jamshedpur - 831001, Jharkhand, India |
|
Tel. No.: |
91-657-2370024 / 6452501 / 6576902 |
DIRECTORS
As on 24.09.2011
|
Name : |
Mr. Anurag Kumar |
|
Designation : |
Director |
|
Address : |
Duplex 116, Vijaya Heritage, Kadma, Jamshedpur, East Singhbhum -
831001, Jharkhand, India |
|
Date of Birth/Age : |
29.10.1968 |
|
Date of Appointment : |
03.02.2007 |
|
Election Commission Card No.: |
AGKPK2729G |
|
DIN No.: |
00719422 |
|
|
|
|
Name : |
Mr. Rajesh Kumar |
|
Designation : |
Director |
|
Address : |
Duplex 114, Vijaya Heritage, Kadma, Jamshedpur, East Singhbhum -
831001, Jharkhand, India |
|
Date of Birth/Age : |
25.05.1965 |
|
Date of Appointment : |
06.12.1996 |
|
Election Commission Card No.: |
AGZPK4929R |
|
DIN No.: |
00719338 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Not Available
As on 24.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
23.72 |
|
Directors or relatives of Directors |
76.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automobiles Castings, Components, S. G. Grey
Iron. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers ·
TATA Motors |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
80 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India, Main Branch, Comani Centre |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Total Limit: Rs.47.000
Millions (From Union Bank of India)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Agarwal Ramesh .K. and Company Chartered Accountants |
|
Address : |
RJS Building, Diagonal Road, Bistupur, Jamshedpur – 831001, Jharkhand,
India |
|
PAN.: |
AAKFA2360F |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
843000 |
Equity Shares |
Rs.10/- each |
Rs.8.430
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.430 |
8.430 |
8.430 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.978 |
7.683 |
7.376 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.408 |
16.113 |
15.806 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
29.212 |
39.305 |
44.013 |
|
|
2] Unsecured Loans |
1.274 |
1.892 |
2.731 |
|
|
TOTAL BORROWING |
30.486 |
41.197 |
46.744 |
|
|
DEFERRED TAX LIABILITIES |
0.767 |
0.677 |
0.632 |
|
|
|
|
|
|
|
|
TOTAL |
48.661 |
57.987 |
63.182 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
34.275 |
32.192 |
34.156 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.111 |
0.111 |
0.111 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.890
|
28.425 |
26.890 |
|
|
Sundry Debtors |
2.102
|
3.149 |
4.850 |
|
|
Cash & Bank Balances |
4.867
|
0.370 |
0.457 |
|
|
Other Current Assets |
0.967
|
0.895 |
0.860 |
|
|
Loans & Advances |
0.228
|
0.000 |
2.600 |
|
Total
Current Assets |
25.054
|
32.839 |
35.657 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.843
|
4.534 |
5.180 |
|
|
Other Current Liabilities |
1.441
|
2.607 |
1.658 |
|
|
Provisions |
0.566
|
0.109 |
0.023 |
|
Total
Current Liabilities |
10.850
|
7.250 |
6.861 |
|
|
Net Current Assets |
14.204
|
25.589 |
28.796 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.071 |
0.095 |
0.119 |
|
|
|
|
|
|
|
|
TOTAL |
48.661 |
57.987 |
63.182 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
150.712 |
87.291 |
60.493 |
|
|
|
Other Income |
0.047 |
1.424 |
2.636 |
|
|
|
TOTAL |
150.759 |
88.715 |
63.129 |
|
|
|
|
|
|
|
|
|
COST OF GOODS
SOLD |
137.204 |
76.156 |
49.641 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Indirect Expenses |
5.310 |
6.488 |
8.261 |
|
|
|
Director Remuneration |
1.800 |
0.960 |
0.000 |
|
|
|
TOTAL |
7.110 |
7.448 |
8.261 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION) |
6.445 |
5.111 |
5.227 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.492 |
4.643 |
4.986 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.953 |
0.468 |
0.241 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.657 |
0.162 |
0.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.296 |
0.306 |
0.160 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.296 |
0.306 |
0.160 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.54 |
-- |
-- |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
180.000 |
Expected Sales (2012-2013) : Rs.195.000 Millions
The above information has been parted by Mr. Rajesh Kumar.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.86
|
0.34 |
0.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.30
|
0.54 |
0.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.29
|
0.72 |
0.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.03 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.37
|
3.01 |
3.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
4.53 |
5.20 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
General Review
The company's performance was satisfactory during the year. The company
could achieve its turnover as well as achieve its target of Net Profit. The
Directors are hopeful that the company shall be able to achieve its target of
Net Profit in the year to come. The future of the company seems to be bright
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U27101WB1996PTC082204 |
|
Name of the company |
EEFCO METALS AND POWDERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
7/1A, Grant Lane, Kolkata – 700012, West Bengal, India E-mail : eefcometal@gmail.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90245473 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of charge holder |
Union Bank of India, Jamshedpur Branch, Bistupur, Jamshedpur – 831001,
Jharkhand, India E-mail : cbsjamshedpur@unionbankofindia.com
|
|
Nature of instrument creating charge |
Composite Hypothecation Deed. |
|
Date of instrument Creating the charge |
30.03.2011 |
|
Amount secured by the charge |
Rs.47.625 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest For term loan b rate + 4.00% per annum with monthly rest. For cash
credit B rate + 4.00% per annum with monthly rest. Terms of Repayment Term loan repayable in monthly installments. Interest to be paid as
and when applied. Cash credit repayable on demand. Margin For term loan 25.00%. For cash credit 25.00%. Extent and Operation of the charge First charge over entire book debts, bills, receivables, consumables,
stores, spares, raw material, work in progress & finished goods. first
charge over entire plant and machinery of the company. First charge over all
fixed assets whether acquired or to be
acquired by utilising the term loan. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
All the current assets including bookdebts, raw material, wip,
finished goods of the company located at the factory premises at a-16, phase-i,
adityapur industrial area, jamshedpur or anywhere else. First charge over all the plant and machinery of the company located
at the factory premises or any where
else. |
|
Date of instrument modifying the charge |
05.03.2009 |
|
Particulars of the present modification |
Total facilities modified to Rs 47.625 Millions from Rs 44.592
Millions. |
Fixed Assets:
·
Computers
·
Furniture
·
Building
·
Plant and Machinery
·
Motor Car
·
Land
Trade references:
·
TATA Motors
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.51.63 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.67.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
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 |
|
28 |
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.