|
Report Date : |
27.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAHAMAYA MINES PRIVATE LIMITED TIRUPATI STEEL TRADERS PROPRIETOR - MAHAMAYA MINES PRIVATE LIMITED |
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Registered
Office : |
Plot No.67/01, Behind Ralas Motors, Tatibandh, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
15.03.2000 |
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Com. Reg. No.: |
10-014111 |
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Capital
Investment / Paid-up Capital : |
Rs.6.673 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U13201CT2000PTC014111 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JBPM04131B |
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PAN No.: [Permanent Account No.] |
AACCM8202H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Supplier of Mild Steel Products like Beam, Channel, Angle, Flat, Plates, Rails, TMT Bars, Crossing Sleeper Bars for Railway, Wire Rod in Coils and Fabricated Items. |
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|
|
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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 |
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Maximum Credit Limit : |
USD 270000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. ‘Mahamaya
Mines Private Limited’ is the proprietor firm of ‘Tirupati Steel Traders. 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered/ Head Office : |
Plot No.67/01, Behind Ralas Motors, Tatibandh, |
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Tel. No.: |
91-771-4242645 (16 Lines)/ 2572435/ 4068809/ 4025282 |
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Mobile No.: |
91-9630024401 (Mr. Nitin Agrawal) 91-9329000581 (Mr. Anand Agrawal) |
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Fax No.: |
91-771-2572672 |
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E-Mail : |
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Website : |
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Branch Office : |
C/702, Greenwoods, |
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Tel. No.: |
91-22-40155282 |
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Fax No.: |
91-22-42292672 |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Anand Agrawal |
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Designation : |
Managing Director |
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Address : |
Ravi House, 5/7 Nehru Nagar (East), Bhilai – 490020, |
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Date of Birth/Age : |
10.06.1961 |
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Date of Appointment : |
15.03.2000 |
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Email : |
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DIN No.: |
00707185 |
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Other Directorship : |
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Name : |
Mrs. Asha Agrawal |
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Designation : |
Director |
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Address : |
Ravi House, 5/7 Nehru Nagar (East), Bhilai – 490020, |
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Date of Birth/Age : |
07.08.1966 |
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Date of Appointment : |
15.03.2000 |
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DIN No.: |
00707218 |
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Other Directorship : |
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KEY EXECUTIVES
|
Name : |
Mr. Nitin Agrawal |
|
Designation : |
Chief Executive Officer |
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Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2011)
|
Names of Shareholders |
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No. of Shares |
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|
Rajesh Agrawal |
|
300 |
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Anand Agrawal |
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230900 |
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Asha Agrawal |
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262000 |
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|
1000 |
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Nitin Agrawal |
|
1000 |
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Neha Agrawal |
|
1000 |
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Nikita Agrawal |
|
1000 |
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Anand Agrawal HUF |
|
150050 |
|
Cyperus Multitrade Private Limited, |
|
5000 |
|
Adriel Venture Private Limited, |
|
5000 |
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Sunsitara Multitrade Private Limited, |
|
5000 |
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Shri Ganesh Spinners Limited, |
|
5000 |
|
|
|
|
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Total |
|
667250 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
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|
|
|
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Bodies corporate |
|
3.00 |
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Directors or relatives of directors |
|
97.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Supplier of Mild Steel Products like Beam, Channel, Angle, Flat, Plates, Rails, TMT Bars, Crossing Sleeper Bars for Railway, Wire Rod in Coils and Fabricated Items. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Bank of Shop No.111, 1st Floor, · ICICI Bank ·
Union Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Agrawal Gupta and Company Chartered Accountant |
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Address : |
Aekapal, 8/9, Priyadarishini
Parisar (East), |
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PAN No.: |
ACZPG8030H |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
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 |
|
|
|
|
|
|
667250 |
Equity Shares |
Rs.10/- each |
Rs.6.673
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 |
6.673 |
6.473 |
6.473 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
61.321 |
39.493 |
38.886 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
67.994 |
45.966 |
45.359 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
52.682 |
48.588 |
0.827 |
|
|
2] Unsecured Loans |
11.736 |
9.830 |
9.894 |
|
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TOTAL BORROWING |
64.418 |
58.418 |
10.721 |
|
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
132.412 |
104.384 |
56.080 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.290 |
6.345 |
5.302 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
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INVESTMENT |
14.021 |
11.710 |
10.954 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.450
|
32.170 |
4.867 |
|
|
Sundry Debtors |
163.035
|
66.611 |
16.092 |
|
|
Cash & Bank Balances |
4.192
|
10.182 |
18.712 |
|
|
Other Current Assets |
0.319
|
0.121 |
0.130 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
180.996
|
109.084 |
39.801 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
69.245
|
26.268 |
2.645 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
6.228
|
1.015 |
0.915 |
|
Total
Current Liabilities |
75.473
|
27.283 |
3.560 |
|
|
Net Current Assets |
105.523
|
81.801 |
36.241 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.578 |
4.528 |
3.583 |
|
|
|
|
|
|
|
|
TOTAL |
132.412 |
104.384 |
56.080 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
541.851 |
393.574 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
540.907 |
392.917 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
0.944 |
0.657 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.300 |
0.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
0.644 |
0.411 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
0.99 |
0.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.12 |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
0.82 |
1.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.02 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.06
|
1.86 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.40
|
3.99 |
11.18 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last two years |
Yes |
|
Profitability for last two years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
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Major Suppliers |
No |
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Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from 27/2, 68-Jawahar Nagar,
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10323349 |
|
Corporate
identity number of the company |
U13201CT2000PTC014111 |
|
Name of the
company |
MAHAMAYA MINES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 67/01,
Behind Ralas Motors, Tatibandh, |
|
Type of charge |
Immovable
Property Book Debts Floating Charge |
|
Particular of
charge holder |
Bank of Shop No.-111, 1st
Floor. |
|
Nature of
description of the instrument creating or modifying the charge |
Details of
Property Mortgaged |
|
Date of
instrument Creating the charge |
15/12/2011 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest @4% above Base
Rate presently 14.75%p.a. or as advised by the Bank from time to time
Interest to be serviced as and when applied. Overdue interest will be compounded
and will attract penalty of 2%p.a. Terms of
Repayment On Demand Margin CC (Hypo. of
stocks) 25% CC (Hypo. of
Book-Debts) Listed Companies - 40% Other Debtors- 50% 20% i.e. Rs 20.000 Millions only against
book Debts of the non listed companies. Extent and
Operation of the charge 100% |
|
Short particulars
of the property charged |
1) Demand
Promissory Note dated 25.11.2011 for Rs.100.000 Millions and interest at the
rate aforesaid executed by M/S Mahamaya Mines Private Limited in favour of
the Bank. 2) Multipurpose
Stamped Document dated 25.11.2011 3) Deed of
Hypothecation dated 25.11.2011 (L-448) 4) Charge and
Hypothecation of Book Debts dated 25.11.2011 (CC-531) 5) Various
declaration and undertakings. 6) Equitable
mortgage by deposit of title deeds of the company's Immovable properties
comprising land and building and other structures, machinery and plant
and other fixtures and fittings
erected or installed thereon (both present and future), situated at l) Commercial
Plot and building at Kh. No.55/71,67/1,70/5 and 70/06 at P. H. No. 103,
Mouza-Tatibandh, ii) Land and Building
(Residential House) at Plot No.07, Block No.05 Motilal Nehru Nagar (East)
Bhilai area 5810sqft. in the name of Mrs. Asha Agrawal iii) Office at
Room no.418,4th Floor, Akshar Arcade Bhaveja Shops office at Mouje Shekhpur-
Khanpur, Tal City Dist. Ahmedabad admeasuring 234 Sqft in the name of M/s
Mahamaya Mines Private Limited 7) Joint and
Several Guarantee dated 25.11.2011 by Mr. Anand Agrawal and Mrs. Asha Agrawal
in favour of the Bank. |
|
Particulars of
the present modification |
Property Enhanced |
FIXED ASSETS:
· Goodwill
·
· Factory Shed and Building
· Vehicles Two and Four Wheelers
· Plant and Machinery
· Computer and Printers
· Furniture and Fixtures
· Air Conditioners
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.56.53 |
|
|
1 |
Rs.88.09 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
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.