1. Summary Information
|
|
|
Country |
India |
|
Company Name |
TAURIAN IRON AND
STEEL COMPANY PRIVATE LIMITED |
Principal Name 1 |
Mr. Amith Lalitkuamar. Bajla |
|
Status |
Moderate |
Principal Name 2 |
Mr. Sumit Lalitkuamar. Baila |
|
|
|
Registration # |
11-111937 |
|
Street Address |
302 A, Poonam
Chambers, Dr. A.B. Road, Worli, Mumbai – 400018, Maharashtra, India |
||
|
Established Date |
18.11.1997 |
SIC Code |
-- |
|
Telephone# |
91-22-66698000 |
Business Style 1 |
Exporting |
|
Fax # |
91-22-66698010 / 20 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Iron Ore |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.72,760,090/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate = 17.51% Directors or relatives of Directors = 77.88% Other top fifty shareholders = 4.61% |
Banking |
HDFC
Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
15 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (40) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiaries Company |
UAE |
Taurian Global Investment Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,468,800,000 |
Current Liabilities |
649,808,000 |
|
Inventories |
411,184,000 |
Long-term Liabilities |
1,034,593,000 |
|
Fixed Assets |
1329,921,000 |
Other Liabilities |
341,894,000 |
|
Deferred Assets |
0.000 |
Total Liabilities |
2,026,295,000 |
|
Invest& other Assets |
148,235,000 |
Retained Earnings |
1,259,084,000 |
|
|
|
Net Worth |
1,331,845,000 |
|
Total Assets |
3,358,140,000 |
Total Liab. & Equity |
3,358,140,000 |
|
Total Assets (Previous Year) |
3,268,816,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
4,237,028,000 |
Net Profit |
166,932,000 |
|
Sales(Previous yr) |
4,195,124,000 |
Net Profit(Prev.yr) |
117,920,000 |
MIRA
INFORM REPORT
|
Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
TAURIAN IRON AND STEEL COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
302 A, Poonam Chambers, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
18.11.1997 |
|
|
|
|
Com. Reg. No.: |
11-111937 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.72.761 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1997PTC111937 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is the Mining Company. It is also engaged in the business of
exporting of |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (40) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Financial details is missing from
government department. However, from
the previous year track record financially company have performed well. Trade
relations are reported to be fair. Business is active. Payments are reported
to be unknown. The company can be considered
for business dealing 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, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long terms rating = BBB |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
October, 2011 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
302 A, Poonam Chambers, Dr. A.B. Road, Worli, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-66698000 |
|
Fax No.: |
91-22-66698010 / 20 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Mines : |
Joshi Bagan, Near |
|
Tel. No.: |
91-6767-277454 / 277480 / 262266 |
|
|
|
|
Factory : |
Khasra No.6363/6364, Daulatabad Road, Gurgaon, Haryana, India |
|
Tel. No.: |
91-124-2255038 / 5519017 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Amith
Lalitkuamar. Bajla |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
303, Subh
Apartment, Co-operative Housing Society, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.07.1974 |
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|
Qualification : |
LLM, LLB |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.11.1997 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00156285 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sumit
Lalitkuamar. Baila |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
303, Subh
Apartment, Co-operative Housing Society, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.03.1973 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Qualification : |
DMS, B Sc. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.11.1997 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00237052 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Puja Bajla |
|
1887100 |
|
Lalit Kumar Bajla |
|
1537000 |
|
Taurain Engineering Private Limited, |
|
1274212 |
|
Sumit Bajla |
|
710000 |
|
Amith Bajla |
|
710000 |
|
Arpita Bajla |
|
417400 |
|
Prema Bajla |
|
390000 |
|
Aruna Jhunjhunwala |
|
50000 |
|
Suraj Ghiraiya |
|
40000 |
|
Nivedita Dayanand Anand |
|
22500 |
|
Pradeep Jain |
|
20000 |
|
Pandey Bimal Shetty |
|
20000 |
|
Lucky Kulkarni |
|
20000 |
|
Gopi Poddar |
|
19000 |
|
Atul Hirawat HUF |
|
15000 |
|
Rakesh Kumar Sharma |
|
14113 |
|
Harsh Sekhsaria |
|
10000 |
|
Savitha Dalmia |
|
10000 |
|
Hemant Rathor |
|
10000 |
|
Yogesh Rungta |
|
10000 |
|
Jyoti Choudhary |
|
10000 |
|
Shoe Kumar Poddar |
|
10000 |
|
Suman Bajla |
|
10000 |
|
Manoj Sharma |
|
5000 |
|
Prasiddhi Poddar |
|
5000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
17.51 |
|
Directors or relatives of Directors |
77.88 |
|
Other top fifty shareholders |
4.61 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is the Mining Company. It is also engaged in the business of
exporting of |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India · Centurion Bank of Punjab Limited, Opposite Rammandir, Bistupur, Jamshedpur, Jamshedpur - 831001, Jharkhand, India ·
IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe
Parade, Mumbai – 400005, Maharashtra, India ·
ICICI Bank Limited, Landmark Race Cource Circle,
Alkapuri, Baroda-390015, Gujarat, India |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
Srei Equipment Finance Private Limited, 'Vishwakarma',
86C, Topsia Road, Kolkata - 700046, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, |
|
Tel. No.: |
91-22-66679000 |
|
Fax No.: |
91-22-66679025 |
|
PAN.: |
AACFD4815A |
|
|
|
|
Subsidiaries Company : |
|
CAPITAL STRUCTURE
As on
30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7276090 |
Equity Shares |
Rs.10/- each |
Rs.72.761
Millions |
|
|
|
|
|
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7276090 |
Equity Shares |
Rs.10/- each |
Rs.72.761
Millions |
|
|
|
|
|
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 |
|
|
|
|
|
1] Share Capital |
72.761 |
72.761 |
63.661 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1259.084 |
1100.636 |
982.716 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1331.845 |
1173.397 |
1046.377 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
910.569 |
1294.216 |
1387.847 |
|
|
2] Unsecured Loans |
124.024 |
92.410 |
0.000 |
|
|
TOTAL BORROWING |
1034.593 |
1386.626 |
1387.847 |
|
|
DEFERRED TAX LIABILITIES |
307.500 |
325.633 |
331.433 |
|
|
|
|
|
|
|
|
TOTAL |
2673.938 |
2885.656 |
2765.657 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1329.921 |
1377.766 |
1495.525 |
|
|
Capital work-in-progress |
88.847 |
87.046 |
468.835 |
|
|
|
|
|
|
|
|
INVESTMENT |
59.388 |
33.390 |
40.146 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
411.184
|
395.244 |
390.665 |
|
|
Sundry Debtors |
399.629
|
157.602 |
369.051 |
|
|
Cash & Bank Balances |
139.736
|
68.478 |
131.598 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
929.435
|
1149.290 |
540.120 |
|
Total
Current Assets |
1879.984
|
1770.614 |
1431.434 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
419.418
|
194.422 |
186.753 |
|
|
Other Current Liabilities |
230.390
|
185.695 |
469.933 |
|
|
Provisions |
34.394
|
3.043 |
13.597 |
|
Total
Current Liabilities |
684.202
|
383.160 |
670.283 |
|
|
Net Current Assets |
1195.782
|
1387.454 |
761.151 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2673.938 |
2885.656 |
2765.657 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4237.028 |
4195.124 |
4386.602 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
3988.106 |
4010.554 |
3726.554 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3988.106 |
4010.554 |
3726.554 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
248.922 |
184.570 |
660.048 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
81.990 |
66.650 |
230.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
166.932 |
117.920 |
429.348 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at FOB Value |
2588.322 |
2892.283 |
3253.699 |
|
|
|
Sundry Recoveries |
83.317 |
0.890 |
0.068 |
|
|
TOTAL EARNINGS |
2671.639 |
2893.173 |
3253.767 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Material Imports-Traded Goods |
731.462 |
1.030 |
NA |
|
|
TOTAL IMPORTS |
731.462 |
1.030 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.94 |
16.67 |
93.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.94
|
2.81 |
9.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.75
|
5.86 |
22.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.16 |
0.63 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.29
|
1.51 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.75
|
4.62 |
2.14 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
(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 three years |
(Yes) |
|
12] |
Profitability for last three years |
(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 (if applicable) |
(No) |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
(No) |
|
30] |
Major Shareholders, if available |
(Yes) |
|
31] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
PERFORMANCE OF THE COMPANY
The sales turnover of the Company has increased from Rs. 4195.124
millions to Rs. 4237.028 millions. The Net Profit has increased from 117.920
millions of previous financial year to Rs. 166.932 millions in the current
financial year.
REVIEW OF OPERATIONS
After the strained economic slowdown-ridden last year, the Company’s
consolidated performance is better during the year, riding the rebound in the
demand and realisations of iron ore. The Company faced problems of decreasing
demand which resulted in low realisations. In a business where the proportion
of overheads is generally low, profit increases are sharp when realisations
rise – and vice versa. Consequently, when demand and realisations are low, the
impact is usually visible in a poor bottomline. As a result, the biggest
challenge for the Company was to manage realizations and still stay profitable
during the year.
The Company recognised that the need of the day was to maintain customer
relationship, maintain delivery schedules, deliver right and quality and ensure
that customers derived the right productivity using their material. Fortunately,
During the year 8.75 MW Wind Power Project from Sangli generated the
revenue of Rs.54.486 Millions and 7.50 MW Wind Power Project at
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
The year gone by in 2009-10 was a year of stabilization and recovery for
the global economy post global economic meltdown and subsequent economic
recession. After plunging into the steepest economic contraction since the
great depression, the global economy witnessed significant improvement during
the year. Although the process of recovery continues, the recent sovereign debt
crisis in a few European economies poses new obstacles towards sustained growth
and stability on a long term basis. According to the latest world economic
outlook published by International Monetary Fund (IMF) in April 2010, world
economy is expected to grow by 4.2% in 2010 as against a decline of 0.6% in
2009.At the heart of this recovery was the co-ordinated fiscal action by the
world powers, including India, to stimulate the economies. In a sign of shifting
economic might,
OVER VIEW OF THE ECONOMY
WORLD IRON AND STEEL SCENARIO – 2009
Global crude steel production during the year 2009 was 1.22 billion
tonnes down 8% over 2008 driven mainly by growth in
Macro-Economic Perspective
As would recall, given the events of the global financial markets in
2008, most of us were expecting the worst at the beginning of 2009-10. Several
developed economies, including the
Business Perspective
While strategic positioning is important, the mettle of an enterprise is
best judged when its execution skills pass the tests in difficult business
conditions. On the one hand, it is true that
Macro-Economic Developments
Taurian primarily caters to the global steel market, and being a core
industrial product, steel consumption has a strong correlation with economic
growth. By the second half of 2009-10, the global economy was on a recovery
mode. Not so much in Europe, or even the
Over the last five to seven years, given the lower cost structures, global
steel production has been shifting away from developed countries to emerging
economies, particularly
INDUSTRY STRUCTURE AND DEVELOPMENTS
IRON
PRODUCT ANALYSIS
Taurian's Iron ore reserves consist of lump and fine ore, production
ratio is 60% fines and 40% Lumps. The lump ore component in mines in Jharkh and
is of higher-grade deposits, Fe content ranging between 58% and 63%.
OUT LOOK
Going ahead, the Company’s prospects seems bright owing to: Investment
in capacity creation with enhanced output Widened revenues from iron ore to
Coal to Gold to finance its enhanced capital expenditure, working capital
outlay including a proposed pelletisation and beneficiation plant. These
investments will enable the Company to enhance output resulting in enhanced
margins. The Company expects to enhance its net turnover from 4237.000 Millions
in 2009-10 to a projected 15000.000 Millions by FY 2013, with more value
addition, thus enhancing shareholder’s value. The Company intends to undertake
several important initiatives in future to strengthen its business: Focus on
robust domestic iron ore demand Grow both organically and inorganically through
mine acquisitions and its development Widen the product basket through growing
ownership of bauxite, soapstone, Gold and coal mines etc. within India and
abroad In doing so, the Company intends to emerge as one of the largest players
in India’s mining industry
Why they are optimistic about their iron ore business by 2015-16,
THE FUTURE IS HERE IN MORE SENSES THAN ONE. Until 2003,
THE BIG PICTURE
MINING OVERVIEW
GLOBAL IRON ORE INDUSTRY
Iron, the fourth-most abundant rock and constituting about 5% of the
earth’s crust, is the world's most commonly used metal. Global iron ore deposits
are estimated at 800 billion tonnes, containing more than 230 billion tonnes of
iron. Iron ore is mined in more than 50 countries and the world’s largest iron
ore producing nations are
Production: As per the US Geological Survey (USGS), the global
iron ore reserve base totalled 1,60,000 million tonnes of crude ore with an
iron content of more than 77,000 million tonnes.
Consumption: About 98% of the world’s iron ore is consumed in
the production of pig iron, which is processed into steel. Iron ore is
considered more integral to global growth than any other commodity because
steel consumption is greater than the consumption of all other metals combined
together. The iron ore which is not used to produce pig iron is used in a
variety of other applications including cement, pigments, agricultural products
and specialty chemicals.
Prices: Global iron ore prices surged more than two-fold in 2009 to around
US$130 a tonne following strong demand from China and an economic recovery in
Europe and the United States (Source:
Reuters, 11th March 2010). The major factors driving iron ore prices
were a rising Chinese steel output and growing import dependence on iron ore.
Besides, the oligopolistic supply side (three companies control over 75% of the
global sea-borne iron ore trade) resulted in a tightening demand supply and
price surge. However, a significant change is expected. Traditionally, the big
three global miners (BHP Billiton, Rio Tintoand Vale) used a benchmark system
of annually negotiated prices with Chinese steel mills, as they did in other
countries. The rise in prominence of
INDIAN IRON ORE INDUSTRY
Reserves:
Demand: The demand for Indian iron ore is increasing; through 2006 to 2009,
Production:
market for ironore.
Exports:
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U51900MH1997PTC111937 |
|
Name of the
company |
TAURIAN IRON AND
STEEL COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
302 A, Poonam Chambersdr,
A B Road, Worli Mumbai - 400018,
Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Srei Equipment Finance Private Limited, 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation. |
|
Date of
instrument Creating the charge |
15.04.2012 |
|
Amount secured by
the charge |
Rs.230.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate
of Interest 13.23% per annum. Terms of Repayment Amount repayable
in 34 monthly installments. Installments no. 1 to 4 of Rs.2.600 Millions each
and Installments No. 5 to 34 of Rs.9.140 Millions each. Extent and Operation of the charge As per Deed of
Hypothecation. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
8 nos. Wind
Turbine Generator. (Within INDIA). |
FIXED ASSETS:
- Buildings
- Plant and
Machinery
- Railway
Sidings
- Windmills
- Vehicles
- Computer
Systems
- Office
Equipments
- Furniture and
Fixtures
- Electrical
Fittings
- Computer
Software
AS PER WEBSITE
PROFILE
Taurian was set up in the year 1997 as a trader of finished leather and exporter of premium leather belts. The company shifted its focus in the year 2001 to Iron ore and hasn’t looked back since. In 2003, the company re-christened itself as subject.
Subject is now the flagship company of The Taurian Group and is one of the leading iron ore exporters from India in the private sector.
Taurian is already involved in major sectors like Iron and Steel and Heavy Engineering and plans to diversify into promising new businesses like Wind Energy. In an effort to become a completely self sufficient outfit, the company plans to setup a fully integrated steel plant and already has a facility to manufacture crushing and screening plants in the country. With so much to offer, it’s not a surprise that a talent pool with an unparalleled business and technological acumen manages Taurian.
The group will always remain true to its philosophy and explore avenues to grow and establish itself in the forefront of its business in the years to come.
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.56.08 |
|
|
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
40 |
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.