1. Summary Information
|
|
|
Country |
|
|
Company Name |
CHHAJED STEEL AND ALLOYS PRIVATE LIMITED |
Principal Name 1 |
Mr. Mukesh
Mafatlal Mehta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Ashok Mafatlal Mehta |
|
|
|
Registration # |
11-055751 |
|
Street Address |
21, Sanghavi
Sadan Shop No-31, 4th Khetwadi Lane, Bombay, Mumbai – 400004,
Maharashtra, India |
||
|
Established Date |
12.03.1990 |
SIC Code |
-- |
|
Telephone# |
91-22-23893666 |
Business Style 1 |
Supplier |
|
Fax # |
91-22-23864049 |
Business Style 2 |
Manufacture |
|
Homepage |
Product Name 1 |
Stainless Steel |
|
|
# of employees |
Not Available |
Product Name 2 |
Pipes and Tubes |
|
Paid up capital |
Rs.391,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 100.00% |
Banking |
Union Bank of India |
|
Public Limited Corp. |
No |
Business Period |
22 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
19,056000 |
Current Liabilities |
22,037,000 |
|
Inventories |
6,615,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
546,000 |
Other Liabilities |
44,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
22,081,000 |
|
Invest& other Assets |
1,000 |
Retained Earnings |
3746,000 |
|
|
|
Net Worth |
4137,000 |
|
Total Assets |
26,218,000 |
Total Liab. & Equity |
26,218,000 |
|
Total Assets (Previous Year) |
20,465,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
56,592,000 |
Net Profit |
1,076,000 |
|
Sales(Previous yr) |
47,685,000 |
Net Profit(Prev.yr) |
649,000 |
|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
‘CHHAJED STEEL AND ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21, Sanghavi Sadan Shop No-31, 4th Khetwadi Lane, Mumbai –
400004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
12.03.1990 |
|
|
|
|
Com. Reg. No.: |
11-055751 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.391 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1990PTC055751 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in Stockist and Suppliers, Importers and
Exporters of Stainless Steel, Alloy Steel, Carbon Steel, Nickel Alloy, Non Ferrous
Metal and all other Engineering and Industrial Items in form of Pipes and
Tubes, Pipe Fittings, Sheet, Plates, Bars etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
21, Sanghavi Sadan Shop No-31, 4th Khetwadi Lane, Mumbai –
400004, Maharashtra, India |
|
Tel. No.: |
91-22-23893666/ 23861894 |
|
Fax No.: |
91-22-23864049 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mukesh Mafatlal Mehta |
|
Designation : |
Director |
|
Address : |
C – 22, Ishwar Nivas, Sikka Nagar, V.P. Road, Mumbai – 400006,
Maharashtra, India |
|
Date of Appointment : |
01.09.2001 |
|
DIN No.: |
00842066 |
|
|
|
|
Name : |
Mr. Ashok Mafatlal Mehta |
|
Designation : |
Director |
|
Address : |
C – 22, Ishwar Nivas, 5th Floor, Sikka Nagar, V.P. Road,
Mumbai – 400075, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1975 |
|
Date of Appointment : |
18.03.2009 |
|
DIN No.: |
02576850 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ridhal Mehta |
|
1760 |
|
Shanti Devi Mehta |
|
1850 |
|
Tarachand Mehta |
|
200 |
|
Mafatlala Mehta |
|
100 |
|
Total |
|
3910 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in Stockist and Suppliers, Importers and
Exporters of Stainless Steel, Alloy Steel, Carbon Steel, Nickel Alloy, Non
Ferrous Metal and all other Engineering and Industrial Items in form of Pipes
and Tubes, Pipe Fittings, Sheet, Plates, Bars etc. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· Union Bank of India, Bhuleshwar Branch, 37/41,Barfiwala Building, Ground Floor, Mumbai - 400004, Maharashtra, India · The Saraswat Co-Operative. Bank Limited, Madhukosh S.V. Sovani Path, Girgaum, Mumbai, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G. G. Hirani and Company Chartered Accountant |
|
Address : |
201, "Gokul", 2nd Floor, 80-A, Baroda Street, Mumbai –
400009, Maharashtra, India |
|
Tel. No.: |
91-22-23482883/ 65222709 |
|
PAN.: |
AAAPH1574R |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3910 |
Equity Shares |
Rs.100/-
each |
Rs.0.391
million |
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 |
0.391 |
0.391 |
0.391 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.746 |
2.854 |
2.932 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.137 |
3.245 |
3.323 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4.137 |
3.245 |
3.323 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.546 |
0.076 |
0.049 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
6.615 |
2.349 |
0.870 |
|
|
Sundry Debtors |
14.988
|
14.719 |
8.818 |
|
|
Cash & Bank Balances |
0.367
|
0.029 |
1.216 |
|
|
Other Current Assets |
0.160
|
0.056 |
0.944 |
|
|
Loans & Advances |
3.541
|
3.235 |
0.000 |
|
Total
Current Assets |
25.671
|
20.388 |
11.848 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.909
|
6.661 |
8.071 |
|
|
Other Current Liabilities |
14.128
|
10.474 |
0.504 |
|
|
Provisions |
0.044
|
0.085 |
0.000 |
|
Total
Current Liabilities |
22.081
|
17.220 |
8.575 |
|
|
Net Current Assets |
3.590
|
3.168 |
3.273 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.001 |
0.001 |
0.001 |
|
|
|
|
|
|
|
|
TOTAL |
4.137 |
3.245 |
3.323 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
56.592 |
47.685 |
39.826 |
|
|
|
Dividend |
0.003 |
0.003 |
0.003 |
|
|
|
Commission |
0.000 |
0.000 |
0.004 |
|
|
|
TOTAL |
56.595 |
47.688 |
39.833 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods sold |
51.128 |
41.917 |
36.956 |
|
|
|
Administrative Expenses |
4.391 |
5.122 |
2.280 |
|
|
|
TOTAL |
55.519 |
47.039 |
39.236 |
|
|
|
|
|
|
|
|
|
NET
PROFIT |
1.076 |
0.649 |
0.597 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.37 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.90
|
1.36 |
1.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.90
|
1.36 |
1.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.10
|
3.17 |
5.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.20 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.34
|
5.31 |
2.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.18 |
1.38 |
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 |
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 |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27100MH1990PTC055751 |
|
Name of the
company |
CHHAJED STEEL AND
ALLOYS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
21, Sanghavi Sadan Shop No-314th Khetwadi Lane, Bombay, Mumbai –
400004, Maharashtra, India Email:chhajed@vsnl.com |
|
This form is for |
Modification
of charges |
|
Charge
identification (ID) number of the charge to be modified |
10153933 |
|
Type of charge |
· Book debts · Movable property (not being pledge) |
|
Particular of
charge holder |
Union Bank of India, Bhuleshwar Branch, 37/41,Barfiwala Building, Ground Floor, Mumbai - 400004, Maharashtra, India |
|
Nature of
instrument creating charge |
Supplementary
Agreement to Hypothecation Agreement of Goods and Debts |
|
Date of
instrument Creating the charge |
22.09.2011 |
|
Amount secured by
the charge |
Rs.25.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base+4% per annum
with monthly rests or such other rate as may be revised by the Bank from time
to time. Terms of Repayment On Demand Margin As per sanction
terms Extent and Operation of the charge To secure Revised
Cash Credit (Hypothecation) Stocks/Book-Debts facility of Rs.25.000 millions
W/W Import/Inland LC (150 days DA/DP) facility of (Rs.10.000 millions)
granted by the Bank to the Company. |
|
Short particulars
of the property charged |
That the
Hypothecated Goods,Book-Debts and Movable Property covered by the Principal
Hypothecation Agreement shall continue to be a security for the Bank for the
enhanced Cash Credit (Cont)
(Hypothecation) Stocks and Book-Debts facility of Rs.25.000 millions W/W
Import/Inland LC (150 days DA/DP)) facility of (Rs.10.000 millions) granted
by the Bank to the Company. |
|
Date of latest
modification prior to the present modification |
18.04.2011 |
|
Particulars of the
present modification |
Vide this
modification an additional sum of Rs.10.500 millions has been granted by the
Bank thereby enhancing Cash Credit (Hypothecation) Stocks/Book-Debts facility
from Rs.14.500 millions to Rs.25.000 millions W/W Import/Inland LC (150 days
DA/DP) facility of (Rs.10.000 millions) and That the Hypothecated Goods,
Book-Debts and Movable Property covered by the Principal Hypothecation
Agreement shall continue to be a security for the Bank for the enhanced limit
of Rs.25.000 millions. |
FIXED ASSETS
·
Fax Machine
·
Computer
·
Laptop
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.55.36 |
|
|
1 |
Rs.85.64 |
|
Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
45 |
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.