MIRA
INFORM REPORT
|
Report Date : |
03.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
MTC BUSINESS
PRIVATE LIMITED |
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Registered Office : |
301-302, Vertex Vikas,
A Wing, Opposite Railway Station, Andheri (East), Mumbai – 400069, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
21.12.2000 |
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Com. Reg. No.: |
11-130172 |
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Paid-up Capital
: |
Rs. 95.040
Millions |
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CIN No.: [Company
Identification No.] |
U51420MH2000PTC130172 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM14831F |
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PAN No.: [Permanent Account No.] |
AACCM4795M |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Trader of Metal
Scrap (Ferrous and Non Ferrous Metal Steel and Iron) |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2800000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is associated with MTC Group which is amongst the leading trading
house of ferrous and non ferrous scrap and Ferro alloys in India. It is an
established company having satisfactory track. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Digambar |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-9769009113 |
|
Date : |
02.07.2012 |
LOCATIONS
|
Registered Office : |
301-302, Vertex Vikas,
A Wing, Opposite Railway Station, Andheri (East), Mumbai – 400 069,
Maharashtra, India |
|
Tel. No.: |
91-22-67872916 / 26843624/ 67872900 |
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Mobile: |
91-9769009113 (Mr. Digambar) |
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Fax No.: |
91-22-26844681/
67410875 |
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E-Mail : |
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Website: |
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Warehouse: |
Plot No.44 to 47,
Jawahar Co-operative Industrial Estate, Village Kamothe, Kalamboli, District,
Raigad, Maharashtra, India |
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Tel No.: |
91-22-27420912/27423755 |
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Fax No.: |
91-22-27423855 |
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Email : |
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Branch : |
1, Tulsi Avenue,
Taluka Daskori, Aslali, Ahmedabad, Gujarat, India |
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Tel No.: |
91-2178-261401/
261286 |
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Fax No.: |
91-2178-261401 |
|
Email : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Narendra
Mehta |
|
Designation : |
Director |
|
Address : |
601-602, A Wing,
Jay Shankar Krupa Housing Society Limited, Old Nagardas Road, Andheri (East),
Mumbai – 400069, Maharashtra, India |
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Date of Birth/Age : |
10.12.1965 |
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Qualification : |
B. Com |
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Date of Appointment : |
21.12.2000 |
|
DIN No.: |
00179992 |
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|
|
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Name : |
Mr. Sanjay Mehta |
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Designation : |
Director |
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Address : |
501-502, A Wing, Jay
Shankar Krupa Housing Society Limited, Old Nagardas Road, Andheri (East),
Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1968 |
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Qualification : |
B. Com |
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Date of Appointment : |
02.04.2001 |
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DIN No.: |
00541528 |
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Name : |
Mr. Lalit Baliya |
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Designation : |
Director |
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Address : |
C-302, Gajalaxmi Apartment, Kolsawala Compound, Old Nagardas Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
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Date of Birth/Age : |
26.10.1967 |
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Qualification : |
B.Com |
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Date of Appointment : |
03.03.2007 |
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DIN No.: |
00282727 |
KEY EXECUTIVES
|
Name : |
Mr. Digambar |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Maganlal
Mehta |
3202000 |
|
Narendra Mehta |
802000 |
|
Sanjay Mehta |
800000 |
|
Manoj Mehta |
4700000 |
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TOTAL |
9504000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Metal
Scrap (Ferrous and Non Ferrous Metal Steel and Iron) |
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Products : |
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Imports : |
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Products : |
Metal Scrap |
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Countries : |
·
UK ·
USA ·
African Country ·
Gulf Countries |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Bhushan Steel ·
Tech Craft |
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Customers : |
End Users ·
TATA ·
JINDAL |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Andheri (East) Branch, Mayani Manor, Sir M V Road, Andheri (East),
Mumbai – 400069, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A.T. Jain and
Company S. T. Jain - Partner Chartered
Accountant |
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Address : |
212, Rewa Chambers,
31 New Marine Lines, Mumbai – 400020, Maharashtra |
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Tel. No.: |
91-22-22035151/
22035252 |
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Fax No.: |
91-22-22083820 |
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E-Mail : |
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Pan No.: |
AABFA2587P |
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Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9504000 |
Equity Shares |
Rs.10/- each |
Rs. 95.040
Millions |
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|
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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 |
95.040 |
95.040 |
47.520 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
629.443 |
475.968 |
380.456 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
724.483 |
571.008 |
427.976 |
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|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
86.440 |
325.355 |
347.809 |
|
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2] Unsecured Loans |
228.137 |
42.489 |
155.857 |
|
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TOTAL BORROWING |
314.577 |
367.844 |
503.666 |
|
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DEFERRED TAX LIABILITIES |
0.760 |
0.784 |
0.593 |
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TOTAL |
1039.820 |
939.636 |
932.235 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
49.777 |
42.005 |
33.608 |
|
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Capital work-in-progress |
76.712 |
7.951 |
4.724 |
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|
|
|
|
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INVESTMENT |
19.281 |
3.084 |
5.329 |
|
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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 |
540.421
|
247.435
|
138.145
|
|
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Sundry Debtors |
873.549
|
540.992
|
375.804
|
|
|
Cash & Bank Balances |
351.646
|
435.481
|
382.341
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
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Loans & Advances |
800.961
|
681.163
|
563.466
|
|
Total
Current Assets |
2566.577
|
1905.071 |
1459.756 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1465.507
|
907.398
|
391.209 |
|
|
Other Current Liabilities |
123.870
|
29.044
|
65.089
|
|
|
Provisions |
83.150
|
82.033
|
114.883
|
|
Total
Current Liabilities |
1672.527
|
1018.475 |
571.181 |
|
|
Net Current Assets |
894.050
|
886.596
|
888.575
|
|
|
|
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
1039.820 |
939.636 |
932.235 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
|
|
|
|
|
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Income |
8027.900 |
6872.900 |
7688.600 |
|
|
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Other Income |
NA |
90.200 |
|
|
|
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TOTAL |
NA |
6963.100 |
7688.600 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
6734.800 |
|
|
|
|
Administrative Expenses |
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Advertising Expenses |
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TOTAL |
7938.900 |
6734.800 |
7353.400 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
228.300 |
335.200 |
|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
4.830 |
2.900 |
2.400 |
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PROFIT BEFORE
TAX |
236.900 |
225.400 |
332.800 |
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Less |
TAX |
83.075 |
82.191 |
113.200 |
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PROFIT AFTER TAX
|
153.800 |
143.200 |
219.600 |
|
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IMPORTS VALUE |
NA |
50809.995 |
4590.488 |
|
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|
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|
Earnings Per
Share (Rs.) |
16.18 |
16.42 |
227.06 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
10000.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 12000.000 Millions
The above information has been parted by Mr. Digamber.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
2.06
|
2.98
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.95
|
0.37
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.05
|
11.58
|
22.29
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.39
|
0.78
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.74
|
2.43
|
2.51
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.87
|
2.56
|
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 |
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7. Promoter’s background |
Yes |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
Yes |
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13. Reasons for variation <> 20% |
---- |
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14. Estimation for coming financial year |
Yes |
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15. Capital in the business |
No |
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16. Details of sister concerns |
Yes |
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17. Major suppliers |
Yes |
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18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
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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 |
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30. Major Shareholders, if available |
Yes |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due others |
1465.507 |
907.398 |
391.209 |
|
|
|
|
|
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TOTAL |
1465.507 |
907.398 |
391.209 |
PERFORMANCE REVIEW
Sales of the Company for the year ended March 31, 2011 were Rs 8027.900
Millions, increased by 15.29%.
FORM 8
|
Corporate
identity number of the company |
U51420MH2000PTC130172 |
|
Name of the
company |
MTC BUSINESS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
301-302, Vertex Vikas, A Wing, Opposite Railway Station, Andheri (East), Mumbai – 400 069, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Abu Dhabi
Commercial Bank Limited, 75, Rehmat Manzil, Veer Nariman Road, Churchgate, Mumbai-400020,
Maharashtra, India |
|
Nature of
instrument creating charge |
1.Agreement of
Hypothecation of Plant And Machinery / Stocks / Book Debts |
|
Date of
instrument Creating the charge |
16.04.2012 |
|
Amount secured by
the charge |
Rs. 204.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Stipulated By
Bank From Time To Time Terms of repayment As Stipulated By
Bank From Time To Time Margin As Stipulated By Bank
From Time To Time Extent and operation of the charge First pari passu
charge with other lenders in a form and manner satisfactory to the
bank(present and future)=total limit Rs. 204.000 Millions (204 MIO.=(1) letter of credit (inland/import) = Rs.200.000
millions (2) derivatives =Rs.4.000 millions) (sub limit under l.c.=letter of
undertaking for buyers credit=Rs.200.000 millions) And/or as stipulated by
bank from time to time Other As Stipulated By
Bank From Time To Time and /or As Per
Agreement Attached and/or As Per Sanction Letter Of The Bank |
|
Short particulars
of the property charged (Including location of the property) |
First Paripassu
Charge With Other Lenders In A Form And Manner Satisfactory to The
Bank(Present and Future) on Following Assets :- (1)
Hypothecation
of All Stock / Goods / Products / Inventories Kept At Borrower Place /
Premises / Godown / Premises etc and/or Where ever else and/or Intransit
Including All The Goods / Products / Inventories / Products Bought Under
Letter of Credit (2)
Hypothecation
of All Book Debts and Receivables, Outstanding Monies etc (3)
Hypothecation
of All Other Current Assets of The Company |
TRADE REFERENCE
·
TATA
·
JINDAL
·
Bhushan Steel
·
Tech Craft
FIXED ASSETS
- Buildings
- Computers
- Electrical Installation
- Furniture and Fixtures
- Land
- Motor Vehicles
- Office Equipments
- Plant and Machinery
- Trucks and Trolly
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. 55.83 |
|
|
1 |
Rs. 87.40 |
|
Euro |
1 |
Rs. 70.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
51 |
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.