MIRA
INFORM REPORT
|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHIV KRUPA STEEL AND ALLOYS PRIVATE LIMITED |
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Registered
Office : |
204, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.04.2008 |
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Com. Reg. No.: |
11-181509 |
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Capital
Investment / Paid-up Capital : |
Rs.20.000 Millions |
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CIN No.: [Company Identification
No.] |
U27106MH2008PTC181509 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS59735E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of MS Billets |
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No. of Employees
: |
209 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some accumulated losses recorded by the company, However, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Vikas |
|
Designation : |
Account |
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Contact No.: |
91-22-25585834 |
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Date : |
01.06.2012 |
LOCATIONS
|
Registered Office : |
204, |
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Tel. No.: |
91-22-25585334 / 85 |
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Fax No.: |
91-22-25585834 / 85 |
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E-Mail : |
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Area : |
300 sq. ft. |
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Location : |
Rented |
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Factory : |
Survey No. 5, Part 2 and 7, Variad Road, Village Torne Taluka Wala,
Thane, Maharashtra, India |
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Tel. No.: |
91-252-6645005 |
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Area : |
20000 sq. mtr. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vijaykumar Ramprakash Bansal |
|
Designation : |
Director |
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Address : |
B-101, Neel |
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Date of Birth/Age : |
05.07.1973 |
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Date of Appointment : |
24.04.2008 |
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DIN No.: |
02107101 |
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Name : |
Mr. Surender Agarwal |
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Designation : |
Director |
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Address : |
G-1, Chhaggan Mahal CHS, Road No. 4, Pestom Sagar, Mahul Marg,
Chembur, Mumbai |
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Date of Birth/Age : |
12.03.1976 |
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Date of Appointment : |
24.04.2008 |
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DIN No.: |
02107126 |
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Name : |
Mrs. Sushma Sunil Agarwal |
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Designation : |
Director |
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Address : |
1/120, Borala Society, Chembur, Mumbai |
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Date of Birth/Age : |
01.01.1964 |
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Date of Appointment : |
27.09.2008 |
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DIN No.: |
02338039 |
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Name : |
Mr. Anand Murarilal Agarwal |
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Designation : |
Director |
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Address : |
Building No. 4/B-15,BLK No. 304, Gopal Nagar, |
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Date of Birth/Age : |
03.10.1984 |
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Date of Appointment : |
27.09.2008 |
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DIN No.: |
02269718 |
KEY EXECUTIVES
|
Name : |
Mr. Vikas |
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Designation : |
Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Surendra Agarwal |
|
500000 |
|
Anand Agarwal |
|
350000 |
|
Seema Bansal |
|
100000 |
|
Sushma Agarwal |
|
150000 |
|
Vijay. R. Bansal |
|
400000 |
|
Praveen Agarwal |
|
150000 |
|
Navin Goel |
|
350000 |
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Total |
|
2000000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of MS Billets |
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Imports : |
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Products : |
MS Scrap |
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Countries : |
·
South Africa ·
USA ·
China |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Rs Follows |
M. Ton |
40,000 |
33,075 |
GENERAL INFORMATION
|
Suppliers : |
Welphone |
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Customers : |
OEM’s ·
Sunvik Steels Private Limited ·
Shree Vaishnav Alloys Private Limited |
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No. of Employees : |
209 (Approximately) |
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Bankers : |
Abhyudaya Co-operative Bank Limited, Administrative Office, K. K.
Tower, Abhudaya Bank, Lane, Off G. D. Ambedkar Marg, Parel Village, Mumbai –
400012, Maharashtra, India |
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Facilities : |
CC Rs. 80.000 Millions From Abhyudaya Co-operative Bank Limited TL Rs. 120.000 Millions From Abhyudaya Co-operative Bank Limited (Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
A D Lalwani and Associates Chartered Accountants |
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Address : |
4-A, Ground Floor D T C Goregaonkar Lane, Attached To Central Cinema
Charni Road – East, Mumbai- 400004, Maharashtra, India |
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PAN.: |
AAFFA9378B |
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Related Party : |
Agarwal Traders |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital : Rs.30.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.20.000 Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
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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 |
20.000 |
0.100 |
0.100 |
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2] Share Application Money |
5.575 |
19.975 |
17.030 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(22.415) |
(21.763) |
0.000 |
|
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NETWORTH |
3.160 |
(1.688) |
17.130 |
|
|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
93.984 |
108.367 |
74.336 |
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2] Unsecured Loans |
2.736 |
0.025 |
0.025 |
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TOTAL BORROWING |
96.720 |
108.392 |
74.361 |
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DEFERRED TAX LIABILITIES |
1.255 |
0.000 |
0.000 |
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TOTAL |
101.135 |
106.704 |
91.491 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
122.029 |
131.887 |
103.135 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.499 |
0.499 |
0.499 |
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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 |
126.376
|
62.954 |
0.000 |
|
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Sundry Debtors |
24.018
|
9.856 |
0.000 |
|
|
Cash & Bank Balances |
0.474
|
0.740 |
0.322 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
41.319
|
18.916 |
15.926 |
|
Total
Current Assets |
192.187
|
92.466 |
16.248 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
98.611 |
32.138 |
4.245 |
|
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Other Current Liabilities |
86.683
|
72.171 |
24.421 |
|
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Provisions |
28.496
|
14.119 |
0.020 |
|
Total
Current Liabilities |
21.379
|
118.428 |
28.666 |
|
|
Net Current Assets |
(21.603)
|
(25.962) |
(12.418) |
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|
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|
MISCELLANEOUS EXPENSES |
0.210 |
0.280 |
0.275 |
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|
|
|
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|
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TOTAL |
101.135 |
106.704 |
91.491 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
854.777 |
586.232 |
|
|
|
Other Income |
|
0.128 |
0.018 |
|
|
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TOTAL (A) |
|
854.905 |
586.250 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
818.162 |
575.205 |
|
|
|
Administrative Expenses |
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Advertising Expenses |
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|
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|
|
TOTAL (B) |
|
818.162 |
575.205 |
|
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
36.743 |
11.045 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
|
19.757 |
18.918 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
16.986 |
(7.873) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
16.383 |
13.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.603 |
(21.763) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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|
|
PROFIT AFTER TAX
(G-H) (I) |
|
0.603 |
(21.763) |
|
|
|
|
|
|
|
|
|
|
Deferred Tax Liability |
|
(1.255) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
(0.625) |
(21.763) |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.30 |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1300.000 |
Expected Sales (April 2012 to May 2012) : Rs.230.000 Millions
The above information has been parted by Mr. Vikas
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.07
|
(3.71) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.007
|
(3.71) |
NA |
|
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.19
|
(9.69) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
12.89 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
37.37
|
(134.37) |
6.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.99
|
0.78 |
0.57 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
DETAILS OF SUNDRY
CREDITORS
Rs. In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
98.611 |
32.138 |
4.245 |
|
Total |
98.611 |
32.138 |
4.245 |
OPERATION
During the year, the Company has achieved turnover of Rs.854.800 Millions as compare to Rs.586.200 Millions approx during last year. The management is taking appropriate step to improve Company’s bottom line
CURRENT YEAR OUT LOOK
The Company is also planning to take up necessary steps to set up the market of own product .The directors are making research to develop good quality product to tape the market in future
TRADE REFERENCES
· Welphone
· Sunvik Steels Private Limited
· Shree Vaishnav Alloys Private Limited
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27106MH2008PTC181509 |
|
Name of the
company |
SHIV KRUPA STEEL AND ALLOYS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
204, |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Abhyudaya Co-Op. Bank Limited Administrative Office, K. K. Tower, Abhyudaya Bank, Lane, Off G. D.
Ambekar Marg, Parel Village, Mumbai – 400012, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement For
Hypothecation of Plant & Machineries/Goods |
|
Date of
instrument Creating the charge |
06.06.2011 |
|
Amount secured by
the charge |
Rs.3.500 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest
@14% p. a. with monthly rests, or at such other rate, as may be decided, from
time to time, by the Bank Terms of Repayment Repayment of Term
Loan by way of 60 EMIs of Rs.38,427/- each, commencing from 15th July, 2011 Margin As may be
decided, from time to time, by the Bank. Extent and Operation of the charge To secure the due
repayment of Term Loan, together with interest, costs, charges, expenses,
etc. thereon, granted by the Bank to the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All Plant and
Machineries such as Medium Frequency Induction Metting Furnace, Mould Jacket
Flanges set with S.S. inourcasing, etc. |
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.55.93 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.