Business
information report
1. Summary Information
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Country |
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|
Company Name |
SRI VAARU METALLURGICALS PRIVATE LIMITED |
Principal Name 1 |
Mr. Narayanan |
|
|
Status |
Moderate |
Principal Name 2 |
Ms. Pushpa Rani |
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|
|
|
Registration # |
08-052824 |
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|
Street Address |
Plot No. 84 & 85, Road No. 3, Industrial area, 2nd
Phase, Malur – 563130, Dist: Kolar, Karnataka |
|||
|
Established Date |
10.03.2010 |
SIC Code |
-- |
|
|
Telephone# |
91-80-22223994 |
Business Style 1 |
Manufacturer |
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|
Fax # |
91-80-22223994 |
Business Style 2 |
Exporter |
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|
Homepage |
-- |
Product Name 1 |
Leads |
|
|
# of employees |
Not Available |
Product Name 2 |
Lead Alloys |
|
|
Paid up capital |
Rs. 10,000,000/- |
Product Name 3 |
-- |
|
|
Shareholders |
Directors or relatives of
directors 100.00 % |
Banking |
Punjab National
Bank |
|
|
Public Limited Corp. |
No |
Business Period |
2 Years |
|
|
IPO |
No |
International Ins. |
- |
|
|
Public |
No |
Rating |
B (27) |
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|
Related
Company |
||||
|
Relation
|
Country
|
Company
Name |
CEO |
|
|
Associate |
-- |
M/s. Sri Sai Traders |
-- |
|
|
Note |
- |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
52,334,000 |
Current Liabilities |
19,666,000 |
|
Inventories |
15,117,000 |
Long-term Liabilities |
56,015,000 |
|
Fixed Assets |
23,001,000 |
Other Liabilities |
1,467,000 |
|
Deferred Assets |
000 |
Total Liabilities |
77,148,000 |
|
Invest& other Assets |
210,000 |
Retained Earnings |
2,807,000 |
|
|
|
Net Worth |
13,514,000 |
|
Total Assets |
90,662,000 |
Total Liab. & Equity |
90,662,000 |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
231,909,000 |
Net Profit |
3,290,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
20.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
SRI VAARU METALLURGICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 84 & 85, Road No. 3, Industrial area, 2nd
Phase, Malur – 563130, Dist: Kolar, Karnataka |
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
10.03.2010 |
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|
|
|
Com. Reg. No.: |
08-052824 |
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|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29253KA2010PTC052824 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS35136D |
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|
|
|
PAN No.: [Permanent Account No.] |
AAOCS1693Q |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer and Exporter of Leads and Lead Alloys. |
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|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 50000 |
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|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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|
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a relatively new company establishing itself gradually. The
company has achieved a good turnover in its first year of operation. Trade relations
are reported as fair. Business is active. Payments are reported to be slow. 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 – 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 |
LOCATIONS
|
Registered Office : |
Plot No. 84&85, Road No. 3, Industrial area, 2nd Phase,
Malur – 563130, Dist: Kolar, |
|
Tel. No.: |
91-80-22223994 |
|
Mobile No.: |
91-9448472950 (Mr. Narayanan) |
|
Fax No.: |
91-80-22223994 |
|
E-Mail : |
DIRECTORS
As on 22.09.2011
|
Name : |
Mr. Narayanan |
|
Designation : |
Managing Director |
|
Address : |
No. 1668/A, 1st Floor, 2nd Cross, Cross, |
|
Date of Birth/Age : |
20.07.1974 |
|
Date of Appointment : |
10.03.2010 |
|
Din No.: |
02873547 |
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 |
U29253KA2010PTC052824 |
SRI VAARU
METALLURGICALS PRIVATE LIMITED |
Managing
director |
10-03-10 |
10-03-10 |
- |
Active |
NO |
|
2 |
U24232KA2010PLC055616 |
AEGAN BATTERIES
LIMITED |
Director |
22-10-10 |
22-10-10 |
25-03-11 |
Active |
NO |
|
Name : |
Ms. Pushpa Rani |
|
Designation : |
Director |
|
Address : |
No. 1668/A, 1st Floor, 2nd Cross, Cross, |
|
Date of Birth/Age : |
01.01.1975 |
|
Date of Appointment : |
10.03.2010 |
|
Din No.: |
02865487 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U29253KA2010PTC052824 |
SRI VAARU
METALLURGICALS PRIVATE LIMITED |
Director |
10-03-10 |
10-03-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 22.09.2011
|
Names of Shareholders |
No. of Shares |
|
Narayanan |
720100 |
|
Pushpa Rani |
78100 |
|
Narayanan (HUF) |
50000 |
|
E. Rathannam |
151800 |
|
Total |
1000000 |
As on 22.09.2011
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Leads and Lead Alloys. |
PRODUCTION STATUS (31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Lead |
Qty in Tons |
6000 |
6000 |
1635 |
|
Lead Oxide |
Qty in Tons |
600 |
600 |
-- |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Punjab National Bank, Anandnagar Branch, No. 01, HMT Layout, 50 Feet
Road, Anandnagar, Bangalore – 560024, Karnataka, India. |
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Facilities : |
Note: (Secured by EM of
Factory Land and Building, Hypothecation of all Plant and Machinery, DPN and
Loan Agreement, Current Assets and Collateral Security and Personal Guarantee
of Directors Mr. E.Narayanan and Mrs. N.Pushparani for all 3 accounts) |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
G. Kesavaraj and Company Chartered Accountant |
|
Address : |
No. 47, S.G.N. Layout, |
|
Pan No.: |
AFAPK5665E |
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|
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Associates/Subsidiaries : |
M/s. Sri Sai Traders (Mr. E. Rathanam – Proprietor) |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs. 10.000
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
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|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
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|
10.000 |
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|
2] Share Application Money |
|
|
0.707 |
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3] Reserves & Surplus |
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|
2.807 |
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|
4] (Accumulated Losses) |
|
|
0.000 |
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|
NETWORTH |
|
|
13.514 |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
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|
56.015 |
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2] Unsecured Loans |
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|
0.000 |
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|
TOTAL BORROWING |
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|
56.015 |
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|
DEFERRED TAX LIABILITIES |
|
|
0.483 |
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|
|
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|
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TOTAL |
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|
70.012 |
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|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
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|
23.001 |
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|
Capital work-in-progress |
|
|
0.000 |
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|
|
|
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
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|
15.117
|
|
|
Sundry Debtors |
|
|
35.986
|
|
|
Cash & Bank Balances |
|
|
0.038
|
|
|
Other Current Assets |
|
|
1.169
|
|
|
Loans & Advances |
|
|
15.141
|
|
Total
Current Assets |
|
|
67.451
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
19.666
|
|
|
Other Current Liabilities |
|
|
0.000
|
|
|
Provisions |
|
|
0.984
|
|
Total
Current Liabilities |
|
|
20.650
|
|
|
Net Current Assets |
|
|
46.801
|
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
|
|
0.210 |
|
|
|
|
|
|
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TOTAL |
|
|
70.012 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
|
|
|
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Turnover |
|
|
231.909 |
|
|
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Managerial Remuneration |
|
|
0.900 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
4.853 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.708 |
|
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|
PROFIT BEFORE
TAX |
|
|
4.145 |
|
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Less |
TAX |
|
|
0.855 |
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PROFIT AFTER TAX
|
|
|
3.290 |
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|
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IMPORTS |
|
|
|
|
|
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|
Raw Materials |
|
|
22.947 |
|
|
|
Stores & Spares |
|
|
0.085 |
|
|
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Capital Goods |
|
|
2.298 |
|
|
TOTAL IMPORTS |
|
|
25.330 |
|
|
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|
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|
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|
Earnings Per
Share (Rs.) |
|
|
3.29 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
0.01 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.02 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
0.05 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.31 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
5.71 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
|
|
3.27 |
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. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
No |
|
9. Name of person contacted |
No |
|
10. Designation of contact person |
No |
|
11. Turnover of firm for last one year |
Yes |
|
12. Profitability for last one year |
Yes |
|
13. Reasons for variation <> 20% |
---------- |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
No |
|
21. Market information |
--------- |
|
22. Litigations that the firm / promoter involved |
--------- |
|
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 |
Company Affairs:
The information required
under Section 217(1) (a) of the Companies Act, 1956.
The company buys
Old Batteries, Lead Waste and Scrap and Manufactures Lead and Lead Alloys and
Ingots of different grades. The company also imports Raw Materials and
manufactures Finished Goods. The company also does job work of converting raw
material into finished goods. This is the first year of incorporation and the
accounts are for a period of more than 12 months from 10.03.2010.
Bank Charges:
|
Corporate
identity number of the company |
U29253KA2010PTC052824 |
|
Name of the
company |
SRI VAARU
METALLURGICALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
84&85, Road
No. 3, Industrial Area, 2nd Phase, Malur – 563130, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10235391 |
|
Type of charge |
Immovable
property Movable Property Floating Charge |
|
Particular of
charge holder |
Punjab National Bank,
Anandhnagar Branch, No. 01, HMT Lay out, 50 Feet Road, Anandnagar, Bangalore
– 560024, Karnataka, India Email: bo1567@pnb.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement of
Hypothecation of Block Assets Agreement of
Hypothecation of Goods and Bookdebts to Secure Cash Credit Letter of
Continuity |
|
Date of
instrument Creating the charge |
09.03.2012 |
|
Amount secured by
the charge |
Rs. 190.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC - BR + 3.5%
i.e., 14.25% p.a. Bill discounting
- BR + 0.5% i.e., 11.25% p.a. TL as per
existing terms Terms of Repayment CC - Running account
repayable on demand Other limits as
per existing / sanction terms Margin CC - 25% LC - 10% cash
margin TL as per
existing terms Extent and Operation of the charge The charge Shall operate
to the extent of entire loan amount plus interest, commission, expenses, cost
and other charges if any. Others The said amount
of Rs. 190.000 Millions comprises CC RS. 60.000 Millions, Bill Discounting
Rs. 90.000 Millions, LC Rs. 30.000 Millions and Term Loan Rs. 10.000 Millions |
|
Short particulars
of the property charged |
First charge by
way of (a) Hypothecation
of stocks, raw materials, work in
process, finished/ semi finished goods , bookdebts and other current assets
present and future and entire fixed assets of the company including plant
& Machinery, Vehicles etc., stored / installed at No. 1157 / 03, 5th
Cross, Prakash Nagar, Bangalore-560021 or at any other place and (b) Equitable
mortgage of company's immovable property viz. land with building and other
structures (existing and to be constructed) situate at Plot No. 84 & 85,
Industrial Area, Road No. 3, II Phase, Malur Taluk, Kolar dist. |
|
Particulars of
the present modification |
By the above, the
amount secured by charge stands enhanced from Rs. 40.000 Millions to Rs.
190.000 Millions. |
Fixed Assets:
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 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. 51.89 |
|
|
1 |
Rs. 83.18 |
|
Euro |
1 |
Rs. 68.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
27 |
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.