|
Report Date : |
02.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHRI BALAJI ROLLINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
M/14-15-16, Cuncolim
Industrial Estate, Cuncolim Salcette, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
17.06.1994 |
|
|
|
|
Com. Reg. No.: |
24-001610 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.47.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27108GA1994PTC001610 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS18764E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS7890A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of M.S. Ingots. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 283000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
appears to be slow. However, trade relations are reported as fair. Business is
active. Payments are reported to be 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.
INFORMATION PARTED BY
|
Name : |
Ms. Smita |
|
Designation : |
Office Executive |
|
Contact No.: |
91-832-2764590 |
|
Date : |
01.06.2012 |
LOCATIONS
|
Registered Office/ Factory : |
M/14-15-16,
Cuncolim Industrial Estate, Cuncolim Salcette, Goa – 403 703, |
|
Tel. No.: |
91-832-2764590/ 6483275/ 2764494/ 2866513 |
|
Fax No.: |
91-832-2866513 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on 13.09.2010
|
Name : |
Mr. Sumit Rajender Prasad Singla |
|
Designation : |
Director |
|
Address : |
235/I, Pulvado, |
|
Date of Birth/Age : |
16.01.1986 |
|
Date of Appointment : |
14.12.2004 |
|
DIN No.: |
01363005 |
|
|
|
|
Name : |
Mr. Rajender Prasad Singla |
|
Designation : |
Director |
|
Address : |
235/I, Pulvado, |
|
Date of Birth/Age : |
15.08.1956 |
|
Date of Appointment : |
19.08.1996 |
|
DIN No.: |
01474550 |
KEY EXECUTIVES
|
Name : |
Ms. Smita |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 13.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rajender Prasad Singla |
|
1137910 |
|
Bohti Devi |
|
3000 |
|
Kumar Devender Singla |
|
2500 |
|
Singla Sham Lal HUF |
|
24000 |
|
Sumit Singla |
|
1055590 |
|
Amit Singla |
|
940400 |
|
Kailash Singla |
|
1336600 |
|
Status Distributors Private Limited, |
|
200000 |
|
Total |
|
4700000 |
As on 13.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
96.00 |
|
Other
top fifty shareholders |
|
4.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of M.S. Ingots. |
|
|
|
|
Imports : |
|
|
Products : |
v
Raw Materials |
|
Countries : |
v
v
v
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
2009-10 |
|
|
M.S. Ingots |
|
Licensed capacity |
28800 MTs |
|
Installed capacity |
28800 MTs |
|
Particulars |
Actual
Production Qty.
(MTs) |
|
M.S. Ingots |
22810.820 |
|
Runner and Risers |
505.180 |
GENERAL INFORMATION
|
Suppliers : |
v
Shraddha Ispat (Private) Limited |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers v
Shirdi Steel Re-Rollers
Private Limited |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
v Punjab National
Bank, v ICICI Bank
Limited v HDFC Bank
Limited v State Bank of |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Cash Credit – Rs.60.000 millions (Punjab National Bank)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shrinivas Nayak and Company Chartered Accountants |
|
Address : |
201-B, |
|
Tel. No.: |
91-832-2420139 |
|
Fax No.: |
91-832-2420163 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
ABNPN1739Q |
|
|
|
|
Associates/Subsidiaries : |
Shivam Ispat (Private) Limited |
|
|
|
|
Group Companies : |
v
Nilanjan Iron Private Limited v
Arya Steels Rollings ( |
CAPITAL STRUCTURE
As on 13.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4700000 |
Equity Shares |
Rs.10/- each |
Rs.47.000
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 |
47.000 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.652 |
22.308 |
11.774 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
70.652 |
37.308 |
26.774 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
66.375 |
56.616 |
55.055 |
|
|
2] Unsecured Loans |
0.526 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
66.901 |
56.616 |
55.055 |
|
|
DEFERRED TAX LIABILITIES |
1.739 |
0.316 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
139.292 |
94.240 |
81.829 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.660 |
54.740 |
58.164 |
|
|
Capital work-in-progress |
27.085 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
3.027 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.831
|
54.008 |
54.416 |
|
|
Sundry Debtors |
9.116
|
3.183 |
0.009 |
|
|
Cash & Bank Balances |
20.471
|
0.809 |
11.788 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans, Advances & Deposits |
40.448
|
30.427 |
26.942 |
|
Total
Current Assets |
146.866
|
88.427 |
93.155 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
69.678
|
14.041 |
46.982 |
|
|
Other Current Liabilities |
1.603
|
20.000 |
15.291 |
|
|
Provisions |
14.038
|
14.886 |
10.244 |
|
Total
Current Liabilities |
85.319
|
48.927 |
72.517 |
|
|
Net Current Assets |
61.547
|
39.500 |
20.638 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
139.292 |
94.240 |
81.829 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
GROSS TURNOVER |
564.511 |
583.029 |
527.726 |
|
|
|
|
|
|
|
|
TOTAL
EXPENDITURE |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
13.185 |
26.012 |
23.383 |
|
|
|
|
|
|
|
|
INTEREST |
6.658 |
6.189 |
12.374 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.526 |
19.822 |
11.010 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
3.773 |
3.770 |
3.792 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.753 |
16.052 |
7.218 |
|
|
|
|
|
|
|
|
TAX |
1.422 |
5.485 |
3.331 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.331 |
10.566 |
3.886 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.28 |
7.04 |
2.59 |
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
903.200 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.920.000 millions
The above information has been parted by Ms. Smita (Office Executive).
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.39
|
11.21 |
4.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.43 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.15
|
2.83 |
4.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.81 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
Creditors for Capital
Goods |
0.000 |
2.021 |
1.569 |
|
Trade Creditors |
12.756 |
12.020 |
1.561 |
|
L.C. Creditors |
56.922 |
0.000 |
43.852 |
|
Total |
69.678 |
14.041 |
46.982 |
|
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 |
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 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 |
CONTINGENT LIABILITIES:
|
Contingent
Liabilities not provided in respect of: |
31.03.2010 (Rs.
in millions) |
|
Letter of Credit |
56.922 |
|
Bank Guarantees |
4.750 |
|
Claims against
the Company not acknowledged as debts |
18.401 |
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U27108GA1994PTC001610 |
|
Name of the
company |
SHRI BALAJI ROLLINGS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
M/14-15-16,
Cuncolim Industrial Estate, Cuncolim Salcette, Goa – 403 703, E-Mail: asheeshjainfca@yahoo.co.in |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
80011339 |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
Punjab National
Bank, E-Mail: pnb_panjim@yahoo.com |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Agreement |
|
Date of
instrument Creating the charge |
05.06.2011 |
|
Amount secured by
the charge |
Rs.180.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per existing
terms. Terms of
Repayment: As per existing
terms. Margin: As per existing
terms. Extent and
Operation of the charge: As per existing
terms. |
|
Short particulars
of the property charged |
Goods/ assets
represented by documents drawn/ covered under the letter of credit Hypothecation of stocks
of raw materials i.e. scrap, sponge iron, stores and finished goods of
billets etc. and book debts Mortgage /
hypothecation of plant and machinery and other moveable assets present and
future |
|
Date of latest
modification prior to the present modification |
07.11.2009 |
|
Particulars of
the present modification |
The lender bank
agreed to further enhance the credit limit sanctioned to the extent of
Rs.10.000 millions. The total credit limits sanctioned to the borrower by the
lender bank stands at Rs.180.000 millions. |
TRADE REFERENCES:
v
Shirdi Steel Re-Rollers
Private Limited
v
Shraddha Ispat (Private) Limited
FIXED ASSETS:
v Land and Land Development
v
v Plant and Machinery
v Electrical Installations
v Auxiliary Equipments
v Lab Equipments
v Computer
v Office Equipments
v Furniture and Fixture
v Vehicle
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.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
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 |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.