|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANMOL STEEL AND INFRA PRIVATE LIMITED (w.e.f. 09.10.2012) |
|
|
|
|
Formerly Known
As : |
ANMOL STEEL PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-15, MIDC Industrial Area, Taloja, Navi Mumbai – 410208, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.05.1994 |
|
|
|
|
Com. Reg. No.: |
11-078196 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.64.942 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1994PTC078196 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA8336Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Iron and Steel Merchants, Suppliers and Commission Agents. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 560000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
Latest financials are missing with the government department. From the
previous year, the financial position of the company seems to be moderate.
However, trade relations are reported as fair. Business is active. Payment
terms are unknown. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term (A4+) |
|
Rating Explanation |
Minimal degree of safety, it carry very high
credit risk. |
|
Date |
February, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term (BB+) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
February, 2013 |
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 : |
D-15, MIDC Industrial Area, Taloja, Navi Mumbai – 410208, Maharashtra,
India |
|
Tel. No.: |
91-22-27411063/ 27410973/ 43117777 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Amar Dinesh Shah |
|
Designation : |
Director |
|
Address : |
201/202, Anuradha Apartment, 183 TPS Road, Boriwali (West), Mumbai –
400092, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1979 |
|
Date of Appointment : |
01.08.2003 |
|
PAN No.: |
ADSPS6416P |
|
DIN No.: |
00419893 |
|
|
|
|
Name : |
Mr. Dinesh Lalchand Shah |
|
Designation : |
Director |
|
Address : |
201/202, Anuradha Apartment, 183 TPS Road, Boriwali (West), Mumbai –
400092, Maharashtra, India |
|
Date of Birth/Age : |
25.04.1949 |
|
Date of Appointment : |
05.05.1994 |
|
PAN No.: |
AAFPS4547K |
|
DIN No.: |
00424941 |
|
|
|
|
Name : |
Mr. Paras Dinesh Shah |
|
Designation : |
Director |
|
Address : |
201/202, Anuradha Apartment, 183 TPS Road, Boriwali (West), Mumbai –
400092, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1974 |
|
Date of Appointment : |
01.04.2005 |
|
PAN No.: |
AAFPS4548G |
|
DIN No.: |
00438035 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Dinesh Lalchand Shah |
|
1914270 |
|
Amar Dinesh Shah |
|
1579950 |
|
Paras Dinesh Shah |
|
1750000 |
|
Bindu Ben Shah |
|
250000 |
|
Shah Enterprise |
|
500000 |
|
Anuroop Steel |
|
500000 |
|
Pragya Realty Developers Private Limited (Formerly known as Ragini
Trading Investment Limited) |
|
1250000 |
|
|
|
|
|
Total |
|
7744220 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
29.05 |
|
Directors or relatives of directors |
|
70.95 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Iron and Steel Merchants, Suppliers and Commission Agents. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
· Central Bank of India Churchgate Branch, Kasturi Building, Opposite Petroleum House, J. Tata
Road, Mumbai – 400020, Maharashtra, India · Bank of Baroda · Citi Bank |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D M Jani and Company Chartered Accountant |
|
Address : |
10A, 3rd Floor,
Chaman Chembers, Cinema Road, Dhobi Talao, Mumbai – 400020, Maharashtra,
India |
|
PAN No.: |
AACPJ2646R |
CAPITAL STRUCTURE
(AS ON 29.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7744220 |
Equity Shares |
Rs.10/- each |
Rs.77.442
Millions |
|
|
|
|
|
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs.65.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6494220 |
Equity Shares |
Rs.10/- each |
Rs.64.942
Millions |
|
|
|
|
|
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 |
64.942 |
54.942 |
54.942 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
74.517 |
47.508 |
40.720 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
139.459 |
102.450 |
95.662 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
50.570 |
65.307 |
3.690 |
|
|
2] Unsecured Loans |
161.956 |
51.891 |
22.570 |
|
|
TOTAL BORROWING |
212.526 |
117.198 |
26.260 |
|
|
DEFERRED TAX LIABILITIES |
2.650 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
354.635 |
219.648 |
121.922 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
62.304 |
53.754 |
35.292 |
|
|
Capital work-in-progress |
17.345 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
6.837 |
0.585 |
42.693 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
296.440
|
268.061 |
306.123 |
|
|
Sundry Debtors |
753.217
|
502.499 |
485.481 |
|
|
Cash & Bank Balances |
125.509
|
72.902 |
2.988 |
|
|
Other Current Assets |
0.200
|
0.315 |
32.190 |
|
|
Loans & Advances |
268.586
|
99.509 |
0.288 |
|
Total
Current Assets |
1443.952
|
943.286 |
827.070 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1134.291
|
721.416 |
756.503 |
|
|
Other Current Liabilities |
21.112
|
51.761 |
26.630 |
|
|
Provisions |
10.400
|
4.800 |
0.000 |
|
Total
Current Liabilities |
1165.803
|
777.977 |
783.133 |
|
|
Net Current Assets |
278.149
|
165.309 |
43.937 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
364.635 |
219.648 |
121.922 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
3411.474 |
3398.728 |
|
|
|
Other Income |
NA |
123.039 |
185.550 |
|
|
|
TOTAL (A) |
NA |
3534.513 |
3584.278 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
NA |
3403.633 |
3436.621 |
|
|
|
Personnel Cost |
NA |
5.684 |
5.717 |
|
|
|
Office and Administrative Expenses |
NA |
39.431 |
33.021 |
|
|
|
Selling and Distribution Expenses |
NA |
15.003 |
9.909 |
|
|
|
Non Current Expenditure |
NA |
0.974 |
0.000 |
|
|
|
TOTAL (B) |
NA |
3464.725 |
3485.268 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
69.788 |
99.010 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
53.637 |
84.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
16.151 |
14.604 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
1.690 |
1.395 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
14.461 |
13.209 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
4.800 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.707 |
9.661 |
13.209 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.010 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
17.717 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.65 |
1.76 |
2.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
0.27 |
0.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.42 |
0.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
1.45 |
1.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.14 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.52
|
1.14 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24
|
1.21 |
1.06 |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
No |
|
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 |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Loans Directors |
0.356 |
2.105 |
|
Other Debt |
161.600 |
49.786 |
|
|
|
|
|
Total |
161.956 |
51.891 |
NOTE:
The Registered office of the company has been shifted
from, C/o, 403 The Summit Business Bay Off. Hanuman Services Road Vile Parle
(East), Mumbai – 400057, Maharashtra, India, to the present address w.e.f.
15.03.2012.
FIXED ASSETS:
· Land
· Building
· Factory
· Plant and Machinery
· Office Equipment
· Computer
· Furniture and Fixtures
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 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.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.