|
Report Date : |
11.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
K.G. ISPAT PRIVATE LIMITED (w.e.f. 02.03.2005) |
|
|
|
|
Formerly Known
As : |
RATAN DETERGENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
101, Paresh Tower, 822 Loha Mandi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.04.2004 |
|
|
|
|
Com. Reg. No.: |
10-016569 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02424MP2004PTC016569 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Iron and Steel. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. The profitability
of the company appears to be low. However, trade relations are reported as fair. Business is active.
Payment terms are 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, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 : |
101, Paresh Tower, 822 Loha Mandi, |
|
Tel. No.: |
91-731- 4218865/ 4267326 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Rajkumar Gupta |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
91, New Agrawal Nagar, |
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Date of Birth/Age : |
08.02.1980 |
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|
Date of Appointment : |
21.04.2004 |
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|
DIN No.: |
01052874 |
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Other Directorships :
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Deepti Gupta |
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|
Designation : |
Director |
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|
Address : |
91, New Agrawal Nagar, |
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|
Date of Birth/Age : |
25.11.1982 |
||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
31.03.2008 |
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|
DIN No.: |
02273479 |
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Other Directorships :
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajkumar Gupta |
|
465000 |
|
Deepti Gupta |
|
195000 |
|
|
|
|
|
Total |
|
660000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Iron and Steel. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, ·
Bank of · ICICI Bank Limited ·
City Union Bank of ·
Union Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
H. Dangi and Company Chartered Accountant |
|
Address : |
201, Kuber Palace, 35, Jaora Compound, |
|
Tel No.: |
91-731-4046303/ 2701303/ (R)2521303 |
|
PAN No.: |
AALFM6786G |
|
Email : |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
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 |
|
|
|
|
|
|
660000 |
Equity Shares |
Rs.10/- each |
Rs.6.600
Millions |
|
|
|
|
|
NOTE:
RIGHTS, PREFERENCE
AND RESTRICTIONS ATTACHED TO EQUITY SHARES
I. The Company has only one class of share referred to as equity shares having a par value of Rs.10 per shares
Each holder of equity shares is entitled to one vote per share.
II. In the Unlikely event of Liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amount. The distribution will be in proportion to the no. of equity shares held by the shareholders.
RECONCILATION OF
OPENING AND CLOSING SHARE CAPITAL
|
Particulars |
Amount
Originally Paid Up (Rs. In
Millions) |
|
|
|
|
Equity Shares with Voting Rights Each Rs.10/- |
|
|
Balance at Beginning of the year |
6.600 |
|
Addition / Deletion |
0.000 |
|
Balance at End
of the year |
6.600 |
LIST OF
SHAREHOLDERS HOLDING MORE THAN 5% SHARES
|
NAME OF SHAREHOLDER |
No. of Share
held |
Amount
Originally Paid Up (Rs. In
Millions) |
|
|
|
|
|
Rajkumar Gupta |
465000 |
4.650 |
|
Deepti Gupta |
195000 |
1.950 |
|
|
|
|
|
Total |
|
6.600 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6.600 |
6.600 |
6.600 |
|
|
2] Share Application Money |
13.400 |
15.300 |
15.800 |
|
|
3] Reserves & Surplus |
8.758 |
8.063 |
7.658 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.758 |
29.963 |
30.058 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.346 |
3.391 |
17.320 |
|
|
2] Unsecured Loans |
2.022 |
2.598 |
2.138 |
|
|
TOTAL BORROWING |
6.368 |
5.989 |
19.458 |
|
|
DEFERRED TAX LIABILITIES |
0.125 |
0.107 |
0.086 |
|
|
|
|
|
|
|
|
TOTAL |
35.251 |
36.059 |
49.602 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.468 |
1.841 |
1.989 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
1.100 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.554
|
24.501 |
2.616 |
|
|
Sundry Debtors |
40.062
|
79.413 |
62.176 |
|
|
Cash & Bank Balances |
2.104
|
1.942 |
0.551 |
|
|
Other Current Assets |
0.004
|
0.007 |
0.000 |
|
|
Loans & Advances |
9.711
|
4.566 |
25.285 |
|
Total
Current Assets |
60.435
|
110.429 |
90.628 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
25.202
|
59.129 |
28.398 |
|
|
Other Current Liabilities |
1.099
|
18.020 |
12.995 |
|
|
Provisions |
0.351
|
0.162 |
1.631 |
|
Total
Current Liabilities |
26.652
|
77.311 |
43.024 |
|
|
Net Current Assets |
33.783
|
33.118 |
47.604 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.009 |
|
|
|
|
|
|
|
|
TOTAL |
35.251 |
36.059 |
49.602 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
TOTAL RECEIPTS |
218.282 |
124.316 |
148.814 |
|
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.370 |
0.792 |
0.839 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.158 |
0.197 |
0.207 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
0.016 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.196 |
0.595 |
0.632 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.370 |
0.184 |
0.197 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.826 |
0.411 |
0.435 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.563 |
1.158 |
0.729 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Short Provision of Income Tax |
0.000 |
0.006 |
0.006 |
|
|
|
Income Tax Demand (AY 09-10) |
0.131 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2.258 |
1.563 |
1.158 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.25 |
0.62 |
0.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.93
|
0.53 |
0.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.15
|
2.78 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.27
|
1.43 |
2.11 |
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 |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FORM 8:
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U02424MP2004PTC016569 |
|
Name of the
company |
K.G. ISPAT
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
101, Paresh
Tower, 822, Loha Mandi, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank House,
Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Hypothecation |
|
Date of instrument
Creating the charge |
02/02/2012 |
|
Amount secured by
the charge |
Rs.3.500 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Interest at the rate
as may be communicated by the Bank from time to time. Terms of
Repayment On demand Margin Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the Bank. Extent and
Operation of the charge Hypothecation by
way of First Charge on Stocks and Book Debts, etc of the Company to secure as
a continuing security as security for the due repayment of Rs.3.500 Millions,
including principal amount of the Facility, interest, liquidated damages,
costs, charges and expenses etc. Others Nil |
|
Short particulars
of the property charged |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished goods,
and other merchandise whatsoever being movable properties All the debts,
that is, all the book debts, outstanding, monies receivables, claims, bills, invoice documents, contracts,
guarantees, and rights |
FIXED ASSETS:
· Car Acent
· Car Innova
· Car Vana
· Air Conditioner
· Computer and Printers
· DVD Players
· Refrigerator
· Television Set
· Honda Activa
· UPS
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] 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.54.34 |
|
|
1 |
Rs.87.09 |
|
Euro |
1 |
Rs.70.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
|
30 |
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.