|
Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
USHA CUBALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
35, 5th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.30.20111 |
|
|
|
|
Date of
Incorporation : |
06.05.2010 |
|
|
|
|
Com. Reg. No.: |
11-202795 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52100MH2010PTC202795 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU06151F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCU1766D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Ferrous and Non Ferrous Metal, Gold and Real Estate |
|
|
|
|
No. of
Employees: |
12 (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 25000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is relatively new company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported 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. Hajgaonkar |
|
Designation : |
Vice President Finance |
|
Contact No.: |
91-22 43446313 |
|
Date : |
17.05.2012 |
LOCATIONS
|
Registered Office : |
35, 5th Floor, |
|
Tel. No.: |
91-22-43446313/21 (Mr. Hajgaonkar) |
|
Mobile No.: |
91-9322258424/9292020623 (Mr. S. K Agarwal) |
|
Fax No.: |
91-22-661515731 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Surendra Kumar Girdharilal Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No.203/B, Poonam Apartments, |
|
Date of Birth/Age : |
05.11.1952 |
|
Date of Appointment : |
06.05.2010 |
|
Din No.: |
00121599 |
|
|
|
|
Name : |
Mrs. Usharani Surendrakumar Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No.203/B, Poonam Apartments, |
|
Date of Birth/Age : |
10.04.1951 |
|
Date of Appointment : |
06.05.2010 |
|
Din No.: |
02158955 |
KEY EXECUTIVES
|
Name : |
Mr. Hajgaonkar |
|
Designation : |
Vice President Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Surendra Kumar Girdharilal Agarwal |
|
48700 |
|
Usharani Surendrakumar Agarwal |
|
1000 |
|
Surendra Kumar HUF |
|
250 |
|
Sharp Metal Overseas, |
|
25 |
|
Matiz Metals Private Limited |
|
25 |
|
Total |
|
50000 |
As on 30.09.2011
Equity Shares Break -up
|
Category |
|
Percentage |
|
Bodies corporate |
|
0.10 |
|
Directors or relatives of directors |
|
99.40 |
|
Other top fifty(50 share holders (other than listed above) |
|
0.50 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Ferrous and Non Ferrous Metal, Gold and Real Estate |
|
|
|
|
Imports : |
|
|
Products : |
Non Ferrous Metal |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash/Credit (30to 60 Days) |
|
|
|
|
Purchasing : |
L/C Cash/Credit (30to 60 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users |
||||||||||||||||||||||||
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No. of Employees : |
12 (Approximately) |
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Bankers : |
State Bank of |
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||||||||||||||||||||||||
|
Facilities : |
Rs.in Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V.H. Jariwala and Company Chartered Accountant |
|
Address : |
183, Kika Street, 3rd Floor, Mumbai – 400002, |
|
Tel. No.: |
91-22-23460691 |
|
Pan No.: |
AABPJ9035F |
|
|
|
|
Company in Which Promoter have significant influence |
·
Lobo Metals Private Limited ·
Omega Rolling Mills Private Limited ·
Matiz Metals Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Share |
Rs.100/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Share |
Rs.100/- each |
Rs.5.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.130 |
|
|
3] Reserves & Surplus |
|
|
1.186 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
6.316 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
152.904 |
|
|
2] Unsecured Loans |
|
|
48.225 |
|
|
TOTAL BORROWING |
|
|
201.129 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
207.445 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.173 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.500 |
|
|
DEFERREX TAX ASSETS |
|
|
0.026 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
138.083 |
|
|
Sundry Debtors |
|
|
41.648 |
|
|
Cash & Bank Balances |
|
|
13.085 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
31.787 |
|
Total
Current Assets |
|
|
224.603 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
16.349 |
|
|
Provisions |
|
|
1.508 |
|
Total
Current Liabilities |
|
|
17.857 |
|
|
Net Current Assets |
|
|
206.746 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
207.445 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
661.724 |
|
|
|
Other Income |
|
|
1.787 |
|
|
|
TOTAL (A) |
|
|
663.511 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
|
787.776 |
|
|
|
Employee Cost |
|
|
0.940 |
|
|
|
Administrative Selling and
other Expenses |
|
|
3.556 |
|
|
|
Loss from Trading |
|
|
0.404 |
|
|
|
Loss from Gold Hedging |
|
|
1.148 |
|
|
|
|
|
|
793.824 |
|
|
|
Increase/Decrease in Stock |
|
|
(138.083) |
|
|
|
TOTAL (B) |
|
|
655.741 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
7.770 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
5.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
2.685 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
2.660 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
1.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
1.185 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
124.796 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
23.71 |
|
|
Particulars |
|
31.03.2012 |
|
Sales Turnover |
|
1490.000 |
|
|
|
|
The above information has been parted by Mr. Hajgaonkar
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
0.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
0.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
1.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
34.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
12.58 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last two years |
Yes |
|
Profitability
for last one year |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
Sundry Creditors Details are not available
Contingent Liability
·
Financial and
performances guarantee given by banks on
behalf of the company Rs.0.375 Millions
·
Letter of credit issued by
bank on behalf of the company Rs.110.010 Millions
·
Letters of Comfort issued
by Bank 1.797 Millions
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U52100MH2010PTC202795 |
|
Name of the
company |
USHA CUBALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
35, 5th Floor, Email: matizmetal@yahoo.co.in |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of Email: kamalax_saraf@hotmail.com
|
|
Nature of
instrument creating charge |
No
instrument. Memorandum of deposit for
creation of charge for term loan/ overall limit (form c.9) |
|
Date of
instrument Creating the charge |
13.07.2010 |
|
Amount secured by
the charge |
Rs.280.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest: As per Sanction
Terms Terms of Repayment Not Applicable Margin As per Sanction
Terms Extent and Operation of the charge Not Applicable Others: Not Applicable |
|
Short particulars
of the property charged (Including location of the property) |
·
All present
and future goods, book debts and all other movable assets of the borrower
including documents of title to the goods, outstanding moneys, receivables
including receivables by way of cash ·
Assistance
and/or cash incentives under the cash incentive scheme, bills, invoices,
documents, contracts, insurance policies, guarantees, engagements,
securities, investments and rights and the present ·
And
all future machinery |
|
Particular if the
present modification |
Now by the
present modfn. Dt.13.7.2010 the company offered security by way of an
equitable mortgage by deposit of title deeds over the immovable property to
secure its credit facilities of Rs.2.800 Millions (the details of immovable
property are as annexure) |
FIXED ASSETS:
·
Computers
·
Office Equipment
AS PER WEB SITE DETAILS
PROFILE
Established in the year 2010, they, Subject is have positioned ourselves in the league of the most revered manufacturers and suppliers of Imitation Jewelery and traders and importers of Ferrous and Non-Ferrous Metal Scrap. Also, they are involved in sales and purchase of Sick Units and Distresses Assets. Their organization is engaged in rendering reliable services for Real-Estate, Cold Storage & Warehousing and Logistics. The jewelry items made available by them are manufactured using premium quality stones and other material. Their range of products and services is in tandem with the standards and norms of the industry. Products traded by them are procured from the trusted and authentic vendors of the market.
They are greatly supported by a team of highly experienced
and qualified professionals, which helps them in delivering a flawless
assortment of products and reliable services to their valued customers.
Besides, they have developed a well-maintained and spacious warehouse to store
the products safely, in a systematic manner. The packaging experts make sure
that the products are packed using premium quality material to protect these
from any damage. Moreover, using their expansive distribution network, they
make sure that the products are delivered at the clients' destination on time.
Furthermore, to simplify out the tedious process of monetary transactions, they
accept payment via various convenient options. Due to these attributes, they
have mustered a vast clientèle across the markets of Indian Subcontinent and
South East Asia
Under the notable tutelage and constant motivation of their
owner, 'Mr. S. K. Agarwal', they have been able to carve a inexorable
niche in the industry. His vast industry experience and in-depth expertise of
this domain allow them to anchor their roots deeply in the market.
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.54.88 |
|
|
1 |
Rs.86.47 |
|
Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
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 |
|
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.