MIRA
INFORM REPORT
|
Report Date : |
25.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
LEEBO METALS PRIVATE LIMITED |
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Registered
Office : |
Room No.28, 4th Floor, Sukaushal Niwas, 187-191, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
31.01.1995 |
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Com. Reg. No.: |
11-085090 |
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Paid-up Capital
: |
Rs. 17.003 Millions |
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CIN No.: [Company Identification
No.] |
U31300MH1995PTC085090 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUML03743F |
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PAN No.: [Permanent Account No.] |
AAACL3901C |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer of
Copper Wires, Strips, Rods, Bars Section and Profiles. |
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No. of Employees
: |
130 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 410000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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 normal 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
TERM LOAN : CRISIL BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
02.01.2012 |
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Rating Agency Name |
CRISIL |
|
Rating |
BANK GUARANTEE : CRISIL A4+ |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk. |
|
Date |
02.01.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Bimal |
|
Designation : |
Finance Department |
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Contact No.: |
91-9323692207 |
|
Date : |
23.10.2012 |
LOCATIONS
|
Registered Office : |
Room No.28, 4th Floor, Sukaushal Niwas, 187-191, |
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Tel. No.: |
91-22-40484212/ 32971299/ 66151731 |
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Mobile No.: |
91-9323692207 (Mr. Bimal) |
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Fax No.: |
91-22-40484214 |
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E-Mail : |
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Website : |
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Area : |
250 sq ft |
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Location : |
Owned |
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Factory : |
Plot No.8, 9 and 15, Premier Industrial Area, Kachigam, Daman – 396
210, |
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Tel. No.: |
91-260-3201761/ 3251761 |
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Fax No.: |
91-260-2243314 |
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E-Mail : |
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Area : |
1800 sq mtrs. (approximately) |
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Location : |
Owned |
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Marketing Office : |
104 and 105, Gundecha Industrial Estate, Next to Big Bazar, Akurli Road, Kandivli (East), Mumbai - 400 101, Maharashtra, India |
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Tel. No.: |
91-22-40484201 to 4229 |
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Fax No.: |
91-22-28858380/40484230 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rajeshkumar Surendrakumar Agarwal |
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Designation : |
Director |
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Address : |
FL/C-701, Thakur Village, Oberoi Gardens – III, Off Western Express
Highway, Kandivali (East), Mumbai – 400101, Maharashtra, India |
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Date of Birth/Age : |
16.08.1972 |
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Qualification : |
B.Com |
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Date of Appointment : |
31.03.2004 |
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DIN No.: |
00121403 |
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Name : |
Mrs. Usharani Surendrakumar Agarwal |
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Designation : |
Director |
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Address : |
Flat No.203/B, Poonam Apartments, Shiv Sagar Estate, De. |
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Date of Birth/Age : |
05.11.1952 |
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Qualification : |
HSC |
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Date of Appointment : |
01.09.1996 |
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DIN No.: |
02158955 |
KEY EXECUTIVES
|
Name : |
Mr. Bimal |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajeshkumar Surendrakumar Agarwal |
|
900100 |
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Usharani Surendrakumar Agarwal |
|
800200 |
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Total
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1700300 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Copper Wires, Strips, Rods, Bars Section and Profiles. |
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Products : |
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Terms : |
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Selling : |
Cash and credit |
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Purchasing : |
Cash and credit |
PRODUCTION STATUS (As on 31.03.2010)
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Particulars |
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2009-10 |
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Actual Production (In Kgs.) |
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2081662.550 |
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GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
130 (Approximately) (In Office + In Factory) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R.N. Agarwal and Company Chartered Accountants |
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Address : |
Rajmahal, 3rd Floor, 13, |
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Tel. No.: |
91-22-22415310 / 22406047 |
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Fax No.: |
91-22-22413160 |
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PAN No.: |
AAAFR1883L |
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Associates/Subsidiaries : |
Omega Rolling
Mills Private Limited Address: Tarapur, Boisar Line of Business: Manufacturing of Furnaces. |
CAPITAL STRUCTURE
As on 31.03.2011
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 |
|
1700300 |
Equity Shares |
Rs.10/- each |
Rs.17.003
millions |
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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 |
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SHAREHOLDERS FUNDS |
|
|
|
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1] Share Capital |
17.003 |
17.003 |
17.003 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
86.216 |
73.601 |
63.011 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
103.219 |
90.604 |
80.014 |
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LOAN FUNDS |
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1] Secured Loans |
88.039 |
98.545 |
34.416 |
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2] Unsecured Loans |
31.316 |
0.000 |
0.000 |
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TOTAL BORROWING |
119.355 |
98.545 |
34.416 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
222.574 |
189.149 |
114.430 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
53.246 |
51.350 |
47.028 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
25.056 |
6.628 |
4.526 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
53.747
|
49.755
|
27.041 |
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Sundry Debtors |
92.227
|
66.128
|
23.753 |
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Cash & Bank Balances |
7.624
|
4.425
|
5.554 |
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Other Current Assets |
0.004
|
0.000
|
0.000 |
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Loans & Advances |
54.761
|
37.084
|
33.670 |
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Total
Current Assets |
208.363
|
157.392
|
90.018 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
49.403
|
11.623
|
13.858 |
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Other Current Liabilities |
0.297
|
3.610
|
0.919 |
|
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Provisions |
14.391
|
10.988
|
12.365 |
|
Total
Current Liabilities |
64.091
|
26.221
|
27.142 |
|
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Net Current Assets |
144.272
|
131.171
|
62.876 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
222.574 |
189.149 |
114.430 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
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Income |
1000.331 |
735.975 |
548.915 |
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Other Income |
NA |
0.491 |
0.407 |
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|
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TOTAL (A) |
NA |
736.466 |
549.322 |
|
|
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
|
709.645 |
525.800 |
|
|
|
Payment to and Provision for Employees |
|
1.903 |
1.427 |
|
|
|
Office and Administrative Expenses |
|
7.632 |
6.420 |
|
|
|
Selling and Distribution Expenses |
|
1.722 |
2.468 |
|
|
|
Speculation Loss |
|
0.000 |
0.181 |
|
|
|
Increase/ Decrease in Stock (Metal) |
|
(22.715) |
17.033 |
|
|
|
TOTAL (B) |
NA |
698.187 |
553.329 |
|
|
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|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
38.279 |
(4.007) |
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|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
NA |
11.814 |
8.562 |
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|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
26.465 |
(12.569) |
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|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
13.487 |
1.986 |
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|
PROFIT BEFORE
TAX (E-F) (G) |
16.114 |
12.978 |
(14.555) |
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Less |
TAX (H) |
3.500 |
2.388 |
0.070 |
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|
PROFIT AFTER TAX
(G-H) (I) |
12.614 |
10.590 |
(14.625) |
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|
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|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
73.601 |
63.011 |
77.636 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
86.215 |
73.601 |
63.011 |
|
|
|
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|
|
|
|
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|
IMPORT VALUE |
NA |
24.936 |
15.802 |
|
|
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|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.42 |
6.24
|
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
1.44
|
(2.66) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.61
|
1.76
|
(2.65) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.16
|
6.22
|
(10.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.14
|
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.78
|
1.38
|
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.25
|
6.00
|
3.32 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
- Small micro enterprises |
0.000 |
0.000 |
|
|
- Others |
49.403 |
11.622 |
|
|
Total |
49.403 |
11.622 |
13.858 |
|
Sr. No. |
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 |
Yes |
|
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 |
No |
|
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) |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The registered office of the company has been shifted from 177/ 179, Laxmi House, Kalbadevi Road, Mumbai – 400 002, Maharashtra to the present address w.e.f. 01.11.2006.
OPERATIONS:
The Net Sales of the company during the year was Rs.1000.331 millions as against Rs.735.975 millions for the previous year.
Further, the Board will strive further to increase the sales of the company in the forthcoming financial year.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80049290 |
|
Corporate
identity number of the company |
U31300MH1995PTC085090 |
|
Name of the
company |
LEEBO METALS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Room No.28, 4th Floor, Sukaushal Niwas, 187-191, E-mail Id : accounts@leebometals.com |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Dadar Bullet Building, Hindu
Colony, Dadar (East), Mumbai – 400 014, Maharashtra, India E-Mail: kamalax_saraf@hotmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
No instrument
memorandum for recording extension of mortgage by deposit of title deeds covering
enhanced limits and/or creation of equitable mortgage on additional
properties for existing limits and enhanced limits and additional facilities |
|
Date of
instrument Creating the charge |
23.06.2011 |
|
Amount secured by
the charge |
Rs.187.500 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per sanction
terms Terms of
Repayment: As per sanction
terms Margin: As per sanction
terms Extent and
Operation of the charge: As per sanction
terms |
|
Short particulars
of the property charged |
All present and
future goods, book debts, movables and other assets of the borrower including
documents of title to goods and other assets such as outstandings moneys, receivables,
claims, bills, invoices, documents, contracts, engagements, securities,
investments and rights and the present and all future machinery. Stock in
process, book debts (cover period 90 days), letter of credit and bank
guarantees. |
|
Date of latest
modification prior to the present modification |
14.05.2011 |
|
Particulars of
the present modification |
Now by the
present modfn. Dt. 23.6.2011 the company created an extension of charge by
way of an equitable mortgage by deposit of title deeds over the immovable
properties to secure the credit facilities of Rs. 187.500 Millions |
FIXED ASSETS:
·
Office Premises
·
·
Office Equipments
·
Vehicles
·
Electrical Installation
·
Plant and Machinery
·
Land
·
Building
·
Computers
·
Air Conditioner
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 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.53.59 |
|
|
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.69.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
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 |
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 |
|
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.