MIRA
INFORM REPORT
|
Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
THYSSENKRUPP ELECTRICAL STEEL INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Village Wadivarhe Post, Gondetaluka-Igatpuri, Nashik-422403, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
30.09.2011 |
|
|
|
|
Date of Incorporation : |
19.07.2000 |
|
|
|
|
Com. Reg. No.: |
11-127807 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3149.349 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27100MH2000PTC127807 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Cold Rolled Electrical Steel. |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20790000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be good. Trade relations are reported as
fair. Business is active. Payments are reported to be regular as per
commitments. In view of strong promoters the company can be considered good 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office / Factory : |
Village Wadivarhe Post, Gondetaluka-Igatpuri, Nashik-422403, |
|
Tel. No.: |
91-2553-225182 |
|
Fax No.: |
91-2553-225181 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse : |
Located At · Jalandhar · Ballabhgarh · Vadodara · Indore · Hyderabad · Bangalore |
|
|
|
|
Sales Offices: |
Located At :
|
DIRECTORS
AS ON 26.09.2012
|
Name : |
Mr. Chandra Shekhar Mathur |
|
Designation : |
Director |
|
Address : |
A-12, Nizamuddin East, |
|
Date of Birth/Age : |
10.02.1951 |
|
Date of Appointment : |
09.09.2000 |
|
DIN No.: |
00003232 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67190DL1996PTC078228 |
R P
MALHAN AND COMPANY PRIVATE LIMITED |
Director |
17/04/1996 |
17/04/1996 |
26/03/2008 |
Active |
NO |
|
2 |
U67190DL1996PTC078233 |
MOHINDER
PURI AND COMPANY PRIVATE LIMTED |
Director |
17/04/1996 |
17/04/1996 |
- |
Active |
NO |
|
3 |
U27205DL1996PTC082592 |
SWAROVSKI
INDIA PRIVATE LIMITED. |
Director |
11/10/1996 |
11/10/1996 |
- |
Active |
NO |
|
4 |
U29199DL1996PTC082591 |
ENGEL
MACHINERY INDIA PRIVATE LIMITED |
Director |
11/10/1996 |
11/10/1996 |
- |
Active |
NO |
|
5 |
U29299MH1997PTC109449 |
DEMAG
CRANES AND COMPONENTS (INDIA) PRIVATE LIMITED |
Director |
16/07/1997 |
16/07/1997 |
02/06/2011 |
Active |
NO |
|
6 |
U72200PN1997PTC014786 |
MAGNA
STEYR INDIA PRIVATE LIMITED |
Director |
15/09/1997 |
15/09/1997 |
- |
Active |
NO |
|
7 |
U72200DL1971PLC005742 |
TECHNIP
KT INDIA LIMITED |
Alternate
director |
12/09/2011 |
01/03/2000 |
- |
Active |
NO |
|
8 |
U27100MH2000PTC127807 |
THYSSENKRUPP
ELECTRICAL STEEL INDIA PRIVATE LIMITED |
Director |
09/09/2000 |
09/09/2000 |
- |
Active |
NO |
|
9 |
U24239DL1999PTC098162 |
THYSSENKRUPP
ELEVATOR (INDIA) PRIVATE LIMITED |
Director |
17/06/2002 |
17/06/2002 |
14/05/2007 |
Active |
NO |
|
10 |
U74140DL1991PTC044890 |
ARBITER
CONSULTING PRIVATE LIMITED |
Director |
31/07/2002 |
31/07/2002 |
- |
Converted
to LLP and dissolved |
NO |
|
11 |
U29295DL1995PTC166241 |
SMS
PLASTICS TECHNOLOGY PRIVATE LIMITED |
Director |
10/10/2003 |
10/10/2003 |
- |
Active |
NO |
|
12 |
U74140DL2004PTC124745 |
WTS
INDIA PRIVATE LIMITED |
Director |
19/02/2004 |
19/02/2004 |
- |
Active |
NO |
|
13 |
U51909DL2004PTC130091 |
ROTHENBERGER
INDIA PRIVATE LIMITED |
Director |
19/10/2004 |
19/10/2004 |
31/12/2008 |
Active |
NO |
|
14 |
U74999DL2001NPL112520 |
INDO
AUSTRIAN BUSINESS FORUM |
Director |
19/05/2005 |
19/05/2005 |
- |
Active |
NO |
|
15 |
U34300DL2005PTC140947 |
RLE
INDIA PRIVATE LIMITED |
Director |
20/09/2005 |
20/09/2005 |
15/12/2009 |
Active |
NO |
|
16 |
U74140DL1994PTC057018 |
ASM
RESEARCH PRIVATE LIMITED |
Director |
17/10/2005 |
17/10/2005 |
- |
Active |
NO |
|
17 |
U24222RJ2007FTC024955 |
PLANTAG
COATINGS INDIA PRIVATE LIMITED |
Director |
07/09/2007 |
07/09/2007 |
01/12/2007 |
Active |
NO |
|
18 |
U74140DL2008PTC176661 |
R P
MALHAN AND COMPANY CONSULTANTS PRIVATE LIMITED |
Director |
11/04/2008 |
11/04/2008 |
- |
Active |
NO |
|
19 |
U24200MH2000PTC123800 |
SEMPERTRANS-NIRLON
PRIVATE LIMITED |
Alternate
director |
06/04/2009 |
06/04/2009 |
17/04/2009 |
Active |
NO |
|
20 |
U74899DL1999PTC097862 |
PERGO
INDIA PRIVATE LIMITED |
Director |
30/09/2009 |
18/08/2009 |
18/11/2010 |
Active |
NO |
|
21 |
AAA-8712 |
ARBITER
CONSULTING LLP |
Designated
Partner |
09/04/2012 |
09/04/2012 |
12/06/2012 |
Active |
NO |
|
Name : |
Mr. Kesava Iyer Venkatesan |
|
Designation : |
Whole-time Director |
|
Address : |
Plot No. 41, SSA Ashwin Nagar CIDCO, Nashik-422009, |
|
Date of Birth/Age : |
14.07.1962 |
|
Date of Appointment : |
23.06.2004 |
|
DIN No.: |
00056671 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27109DL1991NPL042878 |
COLD
ROLLED STEEL MANUFACTURERS ASSOCIATION OF INDIA |
Director |
20/08/2002 |
20/08/2002 |
Active |
NO |
|
2 |
U27100MH2000PTC127807 |
THYSSENKRUPP
ELECTRICAL STEEL INDIA PRIVATE LIMITED |
Managing
director |
01/04/2010 |
23/06/2004 |
Active |
NO |
|
3 |
U27109MH2006PTC161325 |
ROTHE
ERDE INDIA PRIVATE LIMITED |
Director |
03/07/2006 |
03/07/2006 |
Active |
NO |
|
Name : |
Mr. Michael Johannes Thiemann |
|
Designation : |
Director |
|
Address : |
Flat No. 409, 410, Samudra Mahal Premises, |
|
Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
30.11.2007 |
|
DIN No.: |
00061988 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74200MH1977PTC020041 |
UHDE
INDIA PRIVATE LIMITED |
Director |
01/10/2009 |
15/08/1993 |
Active |
NO |
|
2 |
U74999MH1947PTC005508 |
THYSSENKRUPP
INDUSTRIES INDIA PRIVATE LIMITED |
Alternate
director |
13/11/2007 |
13/05/2004 |
Active |
NO |
|
3 |
U27100MH2000PTC127807 |
THYSSENKRUPP
ELECTRICAL STEEL INDIA PRIVATE LIMITED |
Director |
30/11/2007 |
30/11/2007 |
Active |
NO |
|
Name : |
Mr. Johannes Heinz Dippel |
|
Designation : |
Additional Director |
|
Address : |
Sanderweg 12 44803, |
|
Date of Birth/Age : |
27.08.1960 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No.: |
02794543 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27100MH2000PTC127807 |
THYSSENKRUPP
ELECTRICAL STEEL INDIA PRIVATE LIMITED |
Additional
director |
01/10/2012 |
01/10/2009 |
- |
Active |
NO |
|
2 |
U29268MH2010PTC205326 |
THYSSENKRUPP
ENGINE COMPONENTS INDIA PRIVATE LIMITED |
Director |
07/07/2010 |
07/07/2010 |
13/08/2010 |
Active |
NO |
|
Name : |
Mr. Peter Horst Biele |
|
Designation : |
Director |
|
Address : |
Zum Baerler Buscm 3 47199 |
|
Date of Birth/Age : |
09.12.1956 |
|
Date of Appointment : |
26.11.2009 |
|
DIN No.: |
02859931 |
|
|
|
|
Name : |
Mr. Heinz Heinrich Pafferath |
|
Designation : |
Director |
|
Address : |
Herderallee 3 47191 |
|
Date of Birth/Age : |
17.01.1949 |
|
Date of Appointment : |
26.11.2009 |
|
DIN No.: |
02859965 |
|
|
|
|
Name : |
Mr. Joydeep Bidyut Bhattacharjee |
|
Designation : |
Director |
|
Address : |
H17, Thakkars Retreat Juna Gagapur Naka Gangapur Road, Nashik –
422005, Maharashtra, India |
|
Date of Birth/Age : |
14.11.1968 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02813496 |
|
|
|
|
Name : |
Mr. LUC Claude Marie Vendeville |
|
Designation : |
Director |
|
Address : |
32 Rue Edgar Quinet Bethune 62400, France |
|
Date of Birth/Age : |
12.09.1958 |
|
Date of Appointment : |
23.11.2010 |
|
DIN No.: |
03378972 |
KEY EXECUTIVES
|
Name : |
Mr. Tushar Janardan Lakhmapurkar |
|
Designation : |
Secretary |
|
Address : |
F-4, Sagar Apartments, Behind Bhagwati Gas Agency, Chetna Nagar, Rane
Nagar, Nashik-422403, Maharashtra, India |
|
Date of Birth/Age : |
12.01.1969 |
|
Date of Appointment : |
06.11.2006 |
|
PAN No.: |
AALPL5779Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2012
|
Names of Shareholders |
No. of Shares |
|
ThyssenKrupp Electrical Steel GMBH, Germany |
314934880 |
|
ThyssenKrupp Electrical Steel Verwaltun Sgesellschaft MBH, Germany |
20 |
|
TOTAL
|
314934900 |
AS ON 26.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cold Rolled Electrical Steel. |
|
|
|
|
Products : |
· Cold rolled non grain oriented electrical steel (CRNGO) · Cold rolled grain oriented electrical steel (CRGO) · Carbon steel |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountant |
|
Address : |
KPMG House, Kamala Mill Compound, 448, Senapati Bapat Road, Lower
Parel, Mumbai-400013, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Holding Company : |
ThyssenKrupp Electrical Steel GMBH, Germany |
|
|
|
|
Holding Company of the Immediate Parent Company : |
ThyssenKrupp Steel Europe AG |
|
|
|
|
Ultimate Holding Company : |
ThyssenKrupp AG |
|
|
|
|
Fellow Subsidiaries : |
·
Uhde India Limited ·
Rothe Erde India Private Limited ·
Otto Wolf Handelsgesellschaft ·
ThyssenKrupp Steel (Asia Pacific) Pte Limited ·
ThyssenKrupp Bausysteme GmbH ·
Isocab France SAS ·
ThyssenKrupp USA Inc ·
ThyssenKrupp Engine Components India Private
Limited ·
ThyssenKrupp Industries India Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340000000 |
Equity Shares |
Rs.10/- each |
Rs. 3400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
314934900 |
Equity Shares |
Rs.10/- each |
Rs. 3149.349
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3149.349 |
3149.349 |
3149.350 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2048.301 |
1711.811 |
1419.370 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5197.650 |
4861.160 |
4568.720 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
395.140 |
0.000 |
0.430 |
|
|
TOTAL BORROWING |
395.140 |
0.000 |
0.430 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
9.290 |
|
|
|
|
|
|
|
|
TOTAL |
5592.790 |
4861.160 |
4578.440 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1395.890 |
1238.830 |
1461.490 |
|
|
Capital work-in-progress |
440.080 |
256.280 |
24.410 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
82.140 |
85.940 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3376.980
|
2042.210 |
2660.570
|
|
|
Sundry Debtors |
1151.190
|
1068.800 |
830.920
|
|
|
Cash & Bank Balances |
136.990
|
1209.780 |
601.580
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
660.460
|
371.900 |
377.740
|
|
Total
Current Assets |
5325.620
|
4692.690 |
4470.810 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
403.670
|
314.150 |
1211.190 |
|
|
Other Current Liabilities |
802.650
|
669.920 |
78.900
|
|
|
Provisions |
444.620
|
428.510 |
88.180
|
|
Total
Current Liabilities |
1650.940
|
1412.580 |
1378.270 |
|
|
Net Current Assets |
3674.680
|
3280.110 |
3092.540
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5592.790 |
4861.160 |
4578.440 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8560.000 |
7801.000 |
6263.000 |
|
|
|
Other Income |
168.000 |
159.000 |
110.000 |
|
|
|
TOTAL (A) |
8728.000 |
7960.000 |
6373.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
7198.000 |
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
7947.000 |
7198.000 |
6005.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
781.000 |
762.000 |
368.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.000 |
6.000 |
11.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
759.000 |
756.000 |
357.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
256.000 |
317.000 |
483.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
503.000 |
439.000 |
(126.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
167.000 |
147.000 |
(38.000) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
336.000 |
292.000 |
(88.000) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1712.000 |
1420.000 |
1508.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2048.000 |
1712.000 |
1420.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
18.690 |
131.760 |
368.700 |
|
|
TOTAL EARNINGS |
18.690 |
131.760 |
368.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6944.240 |
3934.860 |
4439.890 |
|
|
TOTAL IMPORTS |
6944.240 |
3934.860 |
4439.890 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.07 |
0.93 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
PAT / Total Income |
(%) |
3.85
|
3.67 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.88
|
5.63 |
2.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.39
|
7.30 |
2.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.09 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.39
|
0.29 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.23
|
3.32 |
3.24 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
No |
|
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 |
No |
REVIEW OF OPERATIONS
During the year,
the company has achieved profit before tax Rs.503 Millions, compared to Rs.439
Millions last year, an increase of 15% over previous year. The company could
achieve this result, despite having constant increase in the prices of inputs
and market not being so supportive, by optimizing the product-mix and choosing
the customer profile, that would demand high quality with premium.
STEEL INDUSTRY: OVERVIEW AND OUTLOOK
Till Q3 of 2011,
the Steel Industry had normal growth, but with a continuous increase in the
interest rates by the Central Bank in order to contain the inflation, excess
supply of steel by the neighboring countries the impact on the demand was
higher and consequently resulted in softening of prices.
In the current
quarter we are passing through a difficult time in the market due to lower
demand followed by excess supply from neighboring countries at lower prices. We
think, this will have an impact on their current year results.
The recent
slow-down in India in general due to various factors such as inflation, slow
decision making by the Government, industry trying to cut the inventory and
cost, and the crisis in European countries has set in depressing trend in
sentiments of the market. The company is trying to wade the situation by
choosing appropriate market segments, providing them timely supplies and
entering into new segment such as HGO, Medium and High Carbon Steel and
stampings in order to protect margin.
FIXED ASSETS
·
Freehold land
·
Buildings
·
Plant and Machinery
·
Computers
·
Furniture and Office Equipments
·
Vehicles
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
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. 53.80 |
|
|
1 |
Rs. 86.52 |
|
Euro |
1 |
Rs. 69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.