MIRA
INFORM REPORT
|
Report Date : |
30.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
UNITED SEAMLESS TUBULAAR PRIVATE LIMITED (w.e.f. 10.11.2006) |
|
|
|
|
Formerly Known
As : |
UNITED SEAMLESS TUBULAR LIMITED |
|
|
|
|
Registered
Office : |
“Kamineni”, 2nd Floor, King Koti, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.09.1997 |
|
|
|
|
Com. Reg. No.: |
01-027909 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs.1061.020 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26922AP1997PTC027909 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDU01033E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU4346E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Seamless Steel Pipes. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company
has started it commercial operations in the year 2010-11. There appears some losses
recorded by the company in the current year. 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.
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 : |
“Kamineni”, 2nd Floor, King Koti, |
|
Tel. No.: |
91-40-24785566 |
|
Fax No.: |
91-40-24758999 |
|
E-Mail : |
DIRECTORS
As on 28.05.2011
|
Name : |
Kamineni Suryanarayana |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
Kamineni House, King Koti, Hyderabad-500001, |
|
Date of Birth/Age : |
15.06.1936 |
|
Date of Appointment : |
18.08.2005 |
|
DIN No: |
00078950 |
Other Directorship:
|
S.No. |
CIN |
Name of the
Company |
Current designation
of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U27107AP1989PTC009803 |
United Steel Allied Industries Private Limited |
Director |
30-03-89 |
30-03-89 |
- |
Active |
NO |
|
2 |
U85110AP1998PTC028936 |
Kamineni Oncology Centre Private Limited |
Director |
20-02-98 |
20-02-98 |
- |
Active |
NO |
|
3 |
L26932AP1985PLC005329 |
Oil Country Tubular Limited |
Whole-time director |
20-01-11 |
20-10-04 |
- |
Active |
NO |
|
4 |
U26922AP1997PTC027909 |
United Seamless Tubulaar Private Limited |
Managing director |
20-10-09 |
18-08-05 |
- |
Active |
NO |
|
5 |
U27200AP2007PTC053563 |
Usai Forge Private Limited |
Director |
12-04-07 |
12-04-07 |
- |
Active |
NO |
|
6 |
U45200AP2007PTC056264 |
Titanium Constructions Private Limited |
Director |
08-11-07 |
08-11-07 |
- |
Strike off |
NO |
|
7 |
U45200AP2008PTC058531 |
Kamineni Infrastructure Private Limited |
Director |
04-04-08 |
04-04-08 |
- |
Active |
NO |
|
8 |
U27100AP2008PTC061482 |
Kamineni Steel and Power India Private Limited |
Director |
04-04-11 |
20-10-08 |
- |
Active |
NO |
|
9 |
U85110AP1989PTC009802 |
Kamineni Hospitals Private Limited |
Director |
30-09-09 |
24-05-09 |
- |
Active |
NO |
|
Name : |
Kamineni Shashidhar |
|
Designation : |
Director |
|
Address : |
Kamineni House, King Koti, Hyderabad-500001, |
|
Date of Birth/Age : |
27.12.1958 |
|
Date of Appointment : |
01.09.2006 |
|
DIN No: |
00332223 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U85110AP1989PTC009802 |
Kamineni Hospitals Private Limited |
Managing director |
30-03-89 |
30-03-89 |
- |
Active |
NO |
|
2 |
U27107AP1989PTC009803 |
United Steel Allied Industries Private Limited |
Director |
03-03-93 |
03-03-93 |
- |
Active |
NO |
|
3 |
U85110AP1995PTC019146 |
Kamineni Health Services Private Limited |
Director |
06-01-95 |
06-01-95 |
- |
Active |
NO |
|
4 |
U85110AP1998PTC028936 |
Kamineni Oncology Centre Private Limited |
Director |
20-02-98 |
20-02-98 |
- |
Active |
NO |
|
5 |
U26922AP1997PTC027909 |
United Seamless Tubulaar Private Limited |
Director |
28-08-06 |
28-08-06 |
- |
Active |
NO |
|
6 |
U85110AP2006PTC051488 |
Kamineni Life Sciences Private Limited |
Director |
30-10-06 |
30-10-06 |
- |
Active |
NO |
|
7 |
U27200AP2007PTC053563 |
USAI Forge Private Limited |
Director |
12-04-07 |
12-04-07 |
- |
Active |
NO |
|
8 |
U45400AP2007PTC055981 |
Kamineni Estates Private Limited |
Director |
17-10-07 |
17-10-07 |
- |
Active |
NO |
|
9 |
U45209AP2007PTC056664 |
Kamineni Infraventures Private Limited |
Director |
13-12-07 |
13-12-07 |
- |
Active |
NO |
|
10 |
U80221AP2008PTC058045 |
Winning Edge Careers Private Limited |
Director |
07-03-08 |
07-03-08 |
- |
Active |
NO |
|
11 |
U45200AP2008PTC058531 |
Kamineni Infrastructure Private Limited |
Director |
04-04-08 |
04-04-08 |
- |
Active |
NO |
|
12 |
U27100AP2008PTC061482 |
Kamineni Steel and Power India Private Limited |
Managing director |
01-02-11 |
20-10-08 |
- |
Active |
NO |
|
13 |
U51103AP2010PTC068609 |
Kamineni Marketing Services Private Limited |
Director |
26-05-10 |
26-05-10 |
- |
Active |
NO |
|
14 |
U28910AP2010PTC071892 |
USAI Steels Private Limited |
Director |
27-12-10 |
27-12-10 |
- |
Active |
NO |
|
Name : |
Kamineni Sridhar |
|
Designation : |
Director |
|
Address : |
Kamineni House, King Koti, Hyderabad-500001, |
|
Date of Birth/Age : |
06.02.1966 |
|
Date of Appointment : |
24.04.2009 |
|
DIN No: |
00078815 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U27107AP1989PTC009803 |
United Steel Allied Industries Private Limited |
Director |
30-03-89 |
30-03-89 |
- |
Active |
NO |
|
2 |
U65993AP1989PLC009885 |
Guardian Leasing and Finance Limited |
Director |
24-04-89 |
24-04-89 |
31-03-10 |
Strike off |
NO |
|
3 |
L26932AP1985PLC005329 |
Oil Country Tubular Limited |
Managing director |
01-10-09 |
01-10-04 |
- |
Active |
NO |
|
4 |
U26922AP1997PTC027909 |
United Seamless Tubulaar Private Limited |
Director |
08-07-09 |
18-08-05 |
- |
Active |
NO |
|
5 |
U70102AP2007PTC052658 |
Kamineni Landmarks Private Limited |
Director |
07-02-07 |
07-02-07 |
25-10-07 |
Active |
NO |
|
6 |
U27200AP2007PTC053563 |
USAI Forge Private Limited |
Director |
12-04-07 |
12-04-07 |
- |
Active |
NO |
|
7 |
U45400AP2007PTC056216 |
Kalpavruksha Buildings Private Limited |
Director |
06-11-07 |
06-11-07 |
- |
Strike off |
NO |
|
8 |
U45200AP2008PTC058531 |
Kamineni Infrastructure Private Limited |
Director |
04-04-08 |
04-04-08 |
- |
Active |
NO |
|
9 |
U85110AP1995PTC019146 |
Kamineni Health Services Private Limited |
Director |
02-05-08 |
02-05-08 |
14-09-09 |
Active |
NO |
|
10 |
U27100AP2008PTC061482 |
Kamineni Steel and Power India Private Limited |
Director |
20-10-08 |
20-10-08 |
- |
Active |
NO |
|
11 |
U51103AP2010PTC068609 |
Kamineni Marketing Services Private Limited |
Director |
26-05-10 |
26-05-10 |
- |
Active |
NO |
|
12 |
U28910AP2010PTC071892 |
USAI Steels Private Limited |
Director |
27-12-10 |
27-12-10 |
- |
Active |
NO |
|
Name : |
Muthukumar Ayarpadde |
|
Designation : |
Director |
|
Address : |
No. 66, Jalan Setiajaya, Bukit Darmasara, Kualalumpur-50490 |
|
Date of Birth/Age : |
13.07.1972 |
|
Date of Appointment : |
23.08.2007 |
|
DIN No: |
01799039 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U67120TN2007PTC062493 |
A-Rank Holdings Private Limited |
Director |
23-02-07 |
23-02-07 |
- |
Active |
|
|
2 |
U24221WB2006PTC112168 |
Multicoat Coating Technologies Private Limited |
Director |
06-04-07 |
06-04-07 |
- |
Active |
NO |
|
3 |
U50101TN2005PTC056529 |
Sathya Auto Private Limited |
Director |
11-04-07 |
11-04-07 |
- |
Active |
NO |
|
4 |
U29299TN2005PTC058228 |
Castwel Auto Parts Private Limited |
Director |
06-05-07 |
06-05-07 |
- |
Active |
NO |
|
5 |
U29255PN2007PTC133046 |
UMW Dongshin Motech Private Limited |
Additional director |
27-07-07 |
27-07-07 |
- |
Active |
NO |
|
6 |
U26922AP1997PTC027909 |
United Seamless Tubulaar Private Limited |
Director |
23-08-07 |
23-08-07 |
- |
Active |
NO |
|
7 |
U14108AS1990PTC003429 |
Jaybee Drilling Private Limited |
Director |
30-09-09 |
19-03-09 |
- |
Active |
NO |
|
8 |
U28910TN2009PTC073165 |
Acme Fab - Con India Private Limited |
Director |
12-10-09 |
12-10-09 |
- |
Active |
NO |
|
Name : |
Syed Hisham Bin Syed Wazir |
|
Designation : |
Director |
|
Address : |
No. 1, Jalan USJ 18/7, UEP Subang Jaya, Selangor Darulehsan,
Kualalumpur |
|
Date of Birth/Age : |
26.06.1954 |
|
Date of Appointment : |
05.10.2010 |
|
DIN No: |
03281121 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26922AP1997PTC027909 |
United Seamless Tubulaar Private Limited |
Director |
28-05-11 |
05-10-10 |
- |
Active |
NO |
|
2 |
U29255PN2007PTC133046 |
UMW Dongshin Motech Private Limited |
Director |
06-10-10 |
06-10-10 |
- |
Active |
NO |
|
3 |
U50101TN2005PTC056529 |
Sathya Auto Private Limited |
Director |
06-10-10 |
06-10-10 |
- |
Active |
NO |
|
4 |
U29299TN2005PTC058228 |
Castwel Auto Parts Private Limited |
Director |
06-10-10 |
06-10-10 |
- |
Active |
NO |
|
5 |
U14108AS1990PTC003429 |
Jaybee Drilling Private Limited |
Additional director |
06-10-10 |
06-10-10 |
- |
Active |
NO |
|
6 |
L26932AP1985PLC005329 |
Oil Country Tubular Limited |
Director |
28-05-11 |
21-10-10 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.05.2011
|
Names of Shareholders |
|
No. of Shares |
|
United Steel Allied Industries Private Limited, |
|
42440800 |
|
UMW India Venture (L) Limited, |
|
42440800 |
|
Oil Country Tubular Limited, |
|
21220400 |
|
|
|
|
|
Total |
|
106102000 |
As on 28.05.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
40.00 |
|
Bodies
corporate |
|
60.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Seamless Steel Pipes. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sriramamurthy and Company Chartered Accountants |
|
Address : |
H. No. 1-4-747, Flat No. 503, 4th Floor, Jadala Towers,
Punjab National Bank Building, Musheerabad, Hyderabad-500020, |
|
Tel. No.: |
91-40-27532022 |
|
Mobile No.: |
91-9704622022 |
|
E-Mail : |
|
|
PAN No: |
AAIFS3384F |
|
|
|
|
Associates: |
CIN
No.: U27107AP1989PTC009803
CIN
No.: L26932AP1985PLC005329 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs.1250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
106102000 |
Equity Shares |
Rs.10/- each |
Rs.1061.020
Millions |
Note: Of the above equity shares 95000000 shares were
allotted as fully paid up bonus shares by capitalization of share premium
accounts.
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 |
1061.020 |
1061.020 |
1000.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
170.000 |
|
|
3] Reserves & Surplus |
549.180 |
549.180 |
0.000 |
|
|
4] (Accumulated Losses) |
(143.059) |
0.000 |
0.000 |
|
|
NETWORTH |
1467.141 |
1610.200 |
1170.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7568.866 |
5866.704 |
4366.070 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
7568.866 |
5866.704 |
4366.070 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9036.007 |
7476.904 |
5536.070 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8887.436 |
307.568 |
195.577 |
|
|
Capital work-in-progress |
3.000 |
7743.552 |
4913.630 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
69.610 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1653.966
|
0.000
|
0.000 |
|
|
Sundry Debtors |
30.262
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
69.713
|
144.025
|
942.467 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
270.981
|
98.068
|
9.335 |
|
Total
Current Assets |
2024.922
|
242.093
|
951.802 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
270.492
|
392.046
|
440.935 |
|
|
Other Current Liabilities |
1670.030
|
423.671
|
83.578 |
|
|
Provisions |
8.439
|
6.560
|
0.483 |
|
Total
Current Liabilities |
1948.961
|
822.277
|
524.996 |
|
|
Net Current Assets |
75.961
|
(574.273)
|
426.806 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.057 |
0.057 |
|
|
|
|
|
|
|
|
TOTAL |
9036.007 |
7476.904 |
5536.070 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
|
|
1099.700 |
|
|
|
Other Income |
|
|
161.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
354.400 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
347.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
7.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
220.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
(212.700) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
(69.600) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(143.100) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.95)
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14)
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.49
|
4.15
|
4.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
0.30
|
1.81 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered Office of the company has been shifted from 105,
Successful
Implementation of Project:
The Company has
successfully implemented the new project for manufacture of Seamless Pipes at
Narketpally, Nalgonda District, Andhra Pradesh. with an installed capacity of
300,000 MT per annum. The company commenced commercial production on 15th
September 2010. The company has totally incurred an expenditure of Rs.9122.400
Millions towards the complete implementation of the project
Operations:
The company has
achieved a turnover of Rs.935.300 millions inclusive of Rs.503.400 millions of
Exports. The Company has an order book of Rs.1312.640 million as on 31st March
2011. The Operations of the Mill are expected to stabilize during the first
Quarter of the year and shall be in a position to achieve 150,000 MT during the
year. Increased production levels shall ensure that the Power and LPG
consumption come down drastically thereby improving the operating margins for
the year 2011-12
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U26922AP1997PTC027909 |
|
Name of the
company |
UNITED SEAMLESS
TUBULAAR PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
“Kamineni”, 2nd Floor, King Koti, Email: accounts@unitedseamless.com |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of charge
holder |
Indian Bank, Surabhi Arcade, Bank Street, Koti, Hyderabad -
500001,Andhra Pradesh, India E-mail : accounts@unitedseamless.com
|
|
Nature of
instrument creating charge |
Agreement for hypothecation
of goods received under LC Agreement for
irrevocable letter of credit/Authority for payment |
|
Date of
instrument Creating the charge |
19.11.2011 |
|
Amount secured by
the charge |
Rs.192.400
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Inland LC
commission charges @ 50% of card rates Terms of Repayment One time adhoc
Inland LC (DA 90 days) Margin 5% margin on
value of LC Extent and Operation of the charge Charge on book
debts and stocks of the company |
|
Short particulars
of the property charged |
Charge on book
debts and stocks of the company |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
(Rs. in Millions)
|
Particular |
2010 |
2009 |
|
(a) Capital
Commitments |
|
|
|
Estimated amount of contracts remaining to be executed on capital
account (net of advances) and not provided for |
34.144 |
2645.229 |
|
(b) Letter of credit |
0.000 |
780.304 |
|
(c) Bank guarantee |
0.000 |
27.500 |
|
(d) Customs duty on imports* |
959.133 |
352.422 |
|
(e) Excise duty on indigenous purchases* |
72.893 |
43.788 |
|
|
|
|
|
Total |
106.617 |
3849.243 |
Note:
Payable to Central Excise and Customs Department
in case the company (as a 100% EOU) fails to achieve net foreign exchange
earning in stipulated time frame.
FIXED ASSETS:
- Land
- Plant and
Machinery
- Computer
- Office
Equipment and Furniture
- Vehicles
- Capital WIP
Website Details:
Profile:
Subject is one of the leading manufacturers in
seamless steel pipes segment, across the globe. The company has been
established by Kamineni Group.
The company was floated as a joint venture
with Malaysia based UMW Group, in the year 2007. It is centrally located at
Narketpally, Nalgonda. The strategically situated plant is highly accessible
from the famous Rajiv Gandhi International Airport, Hyderabad, India.
The Seamless Pipe Mill has a capacity of
300,000 Metric Tons per annum. They make products in sizes ranging from 4.5” OD
to 14” OD, in all grades. Theirs is one of the most advanced plants built using
Danieli Centro Tube FQM-Fine Quality Mill 3-roll retained mandrel mill
technology. Danieli's FQM technology is the best available technology today for
the manufacturing of seamless pipes and Danieli ranks among the three largest
suppliers of plants and equipment to the metal industry, worldwide.
Subject is a API licenced company.
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.51.15 |
|
|
1 |
Rs.81.41 |
|
Euro |
1 |
Rs.68.22 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.