MIRA INFORM REPORT
|
Report Date : |
19.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAAJRATNA METAL INDUSTRIES LIMITED (w.e.f. 25.10.1994) |
|
|
|
|
Formerly Known
As : |
RAAJRATNA CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
909 Sakar III, Near Income Tax Circle, Ahmedabad-380014, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.05.1988 |
|
|
|
|
Com. Reg. No.: |
04-010673 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.83.622 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1988PLC010673 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9980M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporters and Importer of Stainless Steel Wires. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. There appears sharp dip in the profits during 2012. There appears
external borrowings which tends to be increasing over years. However, trade relations are reported as decent. Business is active.
Payment terms are usually correct. The company can be considered for business dealings at usual trade
terms and conditions. Note: Mr. A. K. Parekh, Senior Manager [Bank of Baroda] has reported that
the subject maintains proper and very good relation with the bank. |
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
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 |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
24th September, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
24th September, 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.
LOCATIONS
|
Registered Office / Corporate Office : |
909 Sakar III, Near Income Tax Circle, Ahmedabad-380014, Gujarat,
India |
|
Tel. No.: |
91-79-27543681/84 |
|
Fax No.: |
91-79-27543085/26568085 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
40000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Survey No. 146, Bileshwarpura, Ahmedabad-Mehsana Highway, Taluka Kalol, District Gandhinagar, Gujarat, India |
|
Tel. No.: |
91-2764-233664/233665 |
|
Fax No.: |
91-2764-233663 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Survey No. 99, Bileshwarpura, Ahmedabad-Mehsana Highway,
Taluka Kalol, District Gandhinagar, Gujarat, India |
|
Tel. No.: |
91-2764233664/5 |
|
Fax No.: |
91-2764233663 |
|
|
|
|
Branch 1 : |
126, Mittal Court, A Wing, Nariman Point, Mumbai-400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22829342 |
|
Fax No.: |
91-22-22829343 |
|
E-Mail : |
|
|
|
|
|
Branch 2 : |
Shop No. 7, Anup Estate, Sector 10-A, Main Road, Gurgaon-122001,
Haryana, India |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Arvindkumar Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
15, Shantiniketan Society, Opposite Gujarat College Road, Ellis Bridge, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
01.01.1956 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AACPS9853K |
|
DIN No.: |
00435340 |
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 |
L27100GJ1990PLC014383
|
REAL STRIPS
LIMITED |
Managing
director |
01/04/2009 |
22/11/1990 |
- |
Active |
NO |
|
2 |
U29308GJ1991PTC016444
|
RAAJRATNA
ELECTRODES PRIVATE LIMITED |
Managing
director |
18/10/1991 |
18/10/1991 |
- |
Active |
NO |
|
3 |
L17110GJ1988PLC010504
|
AARVEE DENIMS
AND EXPORTS LTD |
Director |
03/02/1996 |
03/02/1996 |
- |
Active |
NO |
|
4 |
U31300GJ2001PTC040056
|
RAINOX WIRES
PRIVATE LIMITED |
Director |
27/09/2001 |
27/09/2001 |
- |
Amalgamated |
NO |
|
5 |
U65990GJ1992PTC018491
|
RAAJRATNA
STOCKHOLDING PRIVATE LIMITED |
Director |
15/11/2002 |
15/11/2002 |
- |
Active |
NO |
|
6 |
U27209GJ2004PLC044288
|
RAAJRATNA
VENTURES LIMITED |
Director |
10/06/2004 |
10/06/2004 |
- |
Active |
NO |
|
7 |
U24231GJ1988PLC010673
|
RAAJRATNA METAL
INDUSTRIES LTD |
Managing
director |
01/04/2012 |
27/09/2004 |
- |
Active |
NO |
|
8 |
U51102GJ2006PTC047612
|
RAAJRATNA
STAINLESS PRIVATE LIMITED |
Director |
27/01/2006 |
27/01/2006 |
- |
Active |
NO |
|
9 |
U24100GJ2010PTC060200
|
UNICAL CHEMICALS
INDIA PRIVATE LIMITED |
Director |
08/04/2010 |
08/04/2010 |
14/06/2010 |
Active |
NO |
|
10 |
U40106GJ2010PTC061338
|
EMERAL ENERGY SOLUTIONS
PRIVATE LIMITED |
Director |
29/06/2010 |
29/06/2010 |
27/12/2011 |
Active |
NO |
|
11 |
U40106GJ2010PTC061359
|
RAAJRATNA
RENEWABLE ENERGY PRIVATE LIMITED |
Director |
29/06/2010 |
29/06/2010 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Babulal Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
Sanghvi Mansion, 17 Lakdawala Building, 5th Khtwadi Lane, Mumbai-400004, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1951 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AACPS4439D |
|
DIN No.: |
00601159 |
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 |
U29308GJ1991PTC016444
|
RAAJRATNA
ELECTRODES PRIVATE LIMITED |
Director |
18/10/1991 |
18/10/1991 |
- |
Active |
NO |
|
2 |
U31300GJ2001PTC040056
|
RAINOX WIRES
PRIVATE LIMITED |
Director |
27/09/2001 |
27/09/2001 |
- |
Amalgamated |
NO |
|
3 |
U27209GJ2004PLC044288
|
RAAJRATNA
VENTURES LIMITED |
Director |
10/06/2004 |
10/06/2004 |
- |
Active |
NO |
|
4 |
U65990GJ1992PTC018491
|
RAAJRATNA
STOCKHOLDING PRIVATE LIMITED |
Director |
21/06/2005 |
21/06/2005 |
- |
Active |
NO |
|
5 |
U24231GJ1988PLC010673
|
RAAJRATNA METAL
INDUSTRIES LTD |
Managing
director |
01/04/2012 |
27/09/2005 |
- |
Active |
NO |
|
6 |
U51102GJ2006PTC047612
|
RAAJRATNA
STAINLESS PRIVATE LIMITED |
Director |
27/01/2006 |
27/01/2006 |
- |
Active |
NO |
|
7 |
U40104AP2001PTC045088
|
VS LIGNITE POWER
PRIVATE LIMITED |
Director |
30/09/2008 |
17/09/2007 |
- |
Active |
NO |
|
8 |
U13200MH2011PTC216947
|
RAJGURU MINERALS
PRIVATE LIMITED |
Director |
02/05/2011 |
02/05/2011 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Tarachand Dalichand Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
43, Highway Park Society, Rambaug Road, Sabarmati, Ahmedabad – 380005, Gujarat, India |
|
Date of Birth/Age : |
18.07.1947 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
ACIPS6387C |
|
DIN No.: |
00601195 |
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 |
U29308GJ1991PTC016444
|
RAAJRATNA
ELECTRODES PRIVATE LIMITED |
Director |
18/10/1991 |
18/10/1991 |
- |
Active |
NO |
|
2 |
U27209GJ2004PLC044288
|
RAAJRATNA
VENTURES LIMITED |
Director |
17/01/2005 |
17/01/2005 |
- |
Active |
NO |
|
3 |
U24231GJ1988PLC010673
|
RAAJRATNA METAL
INDUSTRIES LTD |
Whole-time
director |
01/04/2012 |
27/09/2005 |
- |
Active |
NO |
|
4 |
U51102GJ2006PTC047612
|
RAAJRATNA
STAINLESS PRIVATE LIMITED |
Director |
27/01/2006 |
27/01/2006 |
- |
Active |
NO |
|
5 |
U45201GJ2010PTC060706
|
RAAJRATNA NIRMAN
PRIVATE LIMITED |
Director |
13/05/2010 |
13/05/2010 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Naresh Babulal Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
15, Shantiniketan Society, Near Gujarat College Road, Ellis Bridge, Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
13.06.1973 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AACPS4438C |
|
DIN No.: |
00601322 |
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 |
U72900GJ2000PTC037745
|
CONCEPT INFOWAY
PRIVATE LIMITED |
Director |
07/04/2000 |
07/04/2000 |
- |
Active |
NO |
|
2 |
U24231GJ1988PLC010673
|
RAAJRATNA METAL
INDUSTRIES LTD |
Whole-time
director |
01/04/2012 |
20/10/2001 |
- |
Active |
NO |
|
3 |
U65990GJ1992PTC018491
|
RAAJRATNA
STOCKHOLDING PRIVATE LIMITED |
Director |
15/11/2002 |
15/11/2002 |
- |
Active |
NO |
|
4 |
U31300GJ2001PTC040056
|
RAINOX WIRES
PRIVATE LIMITED |
Director |
25/08/2003 |
25/08/2003 |
- |
Amalgamated |
NO |
|
5 |
U27209GJ2004PLC044288
|
RAAJRATNA
VENTURES LIMITED |
Managing
director |
01/06/2011 |
01/04/2005 |
- |
Active |
NO |
|
6 |
U40100AP2004PTC076551
|
RAAJRATNA ENERGY
HOLDINGS PRIVATE LIMITED |
Director |
30/09/2008 |
20/03/2008 |
- |
Active |
NO |
|
7 |
U40106GJ2010PTC061338
|
EMERAL ENERGY
SOLUTIONS PRIVATE LIMITED |
Director |
29/06/2010 |
29/06/2010 |
27/12/2011 |
Active |
NO |
|
8 |
U40106GJ2010PTC061359
|
RAAJRATNA
RENEWABLE ENERGY PRIVATE LIMITED |
Director |
29/06/2010 |
29/06/2010 |
- |
Active |
NO |
|
9 |
U27203GJ2012PTC071625
|
Ratnashri
Aluminium Private Limited |
Director |
21/08/2012 |
21/08/2012 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Ashimkumar Rakhalraj Banerjee |
|
Designation : |
Whole-time Director |
|
Address : |
Evershine Apartment II, J. P. Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1949 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AAUPB9079Q |
|
Din No.: |
02010493 |
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 |
U24231GJ1988PLC010673
|
RAAJRATNA METAL
INDUSTRIES LTD |
Whole-time
director |
01/04/2012 |
01/04/2007 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Manish Babulal Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
15, Shantiniketan Society, Near Gujarat College Road, Ellis Bridge, Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
23.05.1980 |
|
Date of Appointment : |
18.05.2010 |
|
PAN No.: |
AACPS6102P |
|
DIN No.: |
03089574 |
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 |
U24231GJ1988PLC010673
|
RAAJRATNA METAL
INDUSTRIES LTD |
Whole-time
director |
18/05/2010 |
18/05/2010 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Kinesh Shah |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Purvashi D. Adhvaryu |
|
Designation : |
Secretary |
|
Address : |
20, Avantika Park, Raw House, Behind Sun-N-Step Club, Memnagar,
Ahmedabad-380061, Gujarat, India |
|
Date of Birth/Age : |
08.02.1977 |
|
Date of Appointment : |
01.09.2011 |
|
Pan No.: |
AFRPA163B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
NOTE: Major shareholders detail file attached
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
Bodies corporate |
0.20 |
|
Directors or relatives of Directors |
99.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporters and Importer of Stainless Steel Wires. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
S.S. / Copper Wires |
MT |
36000 |
|
S.S. Scrap |
MT |
NA |
|
Power Generation |
Units |
6.75 MW |
Actual Production:
|
Particulars |
Unit |
Production |
|
|
|
|
Own |
Job Work |
|
S.S. / Copper Wires |
MT |
27878.968 |
3162.007 |
|
S.S. Scrap |
MT |
587.848 |
NA |
|
Power Generation |
Units |
10206583 |
NA |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||
|
Bankers : |
Tel. No.: 91-79-26580362
|
|||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||
|
Facilities : |
Note : Primary Security: The term loans are secured by way of Equitable Mortgage over the Fixed assets , first charge over entire movable fixed assets and on windmill on standalone basis and joint hypothecation of Plant and Machinery of the company. Collateral Security Pari passu 2nd charge over current assets of the company. Personal guarantee of some of the directors of the company. Maturity Profile
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Shah Kantilal and Company Chartered Accountants |
|
Address : |
804, Sarap Building, Opposite Navjivan Press, Off Ashram Road,
Ahmedabad – 380014, Gujarat, India |
|
Pan No.: |
AACFM6805H |
|
|
|
|
Name 2 : |
Mehta Lodha and Company Chartered Accountants |
|
Address : |
105, Sakar – I, Opposite Gandhigram
Railway Station, Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
AAMFS3865K |
|
|
|
|
Associates : |
U65990GJ1992PTC018491
U29308GJ1991PTC016444
L27100GJ1990PLC014383
U72900GJ2000PTC037745
U27209GJ2004PLC044288
U24100GJ2010PTC060200 |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorized 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 |
|
|
|
|
|
|
8362166 |
Equity Shares |
Rs. 10/- each |
Rs.83.622
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
83.622 |
83.622 |
83.622 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1198.387 |
1166.249 |
976.054 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1282.009 |
1249.871 |
1059.676 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2771.176 |
2657.677 |
1601.247 |
|
|
2] Unsecured Loans |
62.382 |
2.439 |
31.576 |
|
|
TOTAL BORROWING |
2833.558 |
2660.116 |
1632.823 |
|
|
DEFERRED TAX LIABILITIES |
169.020 |
167.000 |
145.853 |
|
|
|
|
|
|
|
|
TOTAL |
4284.587 |
4076.987 |
2838.352 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1345.345 |
1270.445 |
1166.929 |
|
|
Capital work-in-progress |
19.710 |
36.253 |
36.310 |
|
|
|
|
|
|
|
|
INVESTMENT |
48.645 |
48.580 |
39.074 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
970.540
|
787.734
|
543.068
|
|
|
Sundry Debtors |
2008.191
|
1863.177
|
1092.659
|
|
|
Cash & Bank Balances |
38.630
|
3.689
|
1.285
|
|
|
Other Current Assets |
0.000
|
0.000
|
255.668
|
|
|
Loans & Advances |
607.562
|
536.959
|
83.401
|
|
Total
Current Assets |
3624.923
|
3191.559
|
1976.081
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
490.391
|
226.148
|
312.577
|
|
|
Other Current Liabilities |
133.582
|
88.560
|
12.191
|
|
|
Provisions |
130.063
|
155.142
|
55.274
|
|
Total
Current Liabilities |
754.036
|
469.850
|
380.042
|
|
|
Net Current Assets |
2870.887
|
2721.709
|
1596.039
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4284.587 |
4076.987 |
2838.352 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6012.575 |
5303.309 |
3085.665 |
|
|
|
Other Income |
11.340 |
12.248 |
124.530 |
|
|
|
TOTAL (A) |
6023.915 |
5315.557 |
3210.195 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4760.890 |
3968.037 |
|
|
|
|
Employee benefit expense |
150.194 |
124.063 |
|
|
|
|
Other expenses |
727.246 |
633.776 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(57.061) |
(49.583) |
|
|
|
|
Prior Period Expenses |
0.598 |
(0.041) |
|
|
|
|
TOTAL (B) |
5581.867 |
4676.252 |
12840.78 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
442.048 |
639.305 |
350.659 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
218.198 |
160.302 |
100.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
223.850 |
479.003 |
250.529 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
141.896 |
126.068 |
111.178 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
81.954 |
352.935 |
139.351 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.520 |
114.146 |
53.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
56.434 |
238.789 |
85.857 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
936.249 |
796.054 |
779.069 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
50.000 |
20.117 |
|
|
|
Proposed Dividend |
20.905 |
41.811 |
41.811 |
|
|
|
Corporate
Dividend Tax |
3.391 |
6.783 |
6.944 |
|
|
BALANCE CARRIED
TO THE B/S |
948.387 |
936.249 |
796.054 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4310.971 |
3739.044 |
1984.765 |
|
|
TOTAL EARNINGS |
4310.971 |
3739.044 |
1984.765 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2082.507 |
965.819 |
701.717 |
|
|
|
Stores & Spares |
88.139 |
48.567 |
33.012 |
|
|
|
Capital Goods |
71.848 |
109.119 |
29.651 |
|
|
|
Trading Goods |
0.000 |
0.000 |
0.307 |
|
|
TOTAL IMPORTS |
2242.494 |
1123.505 |
764.687 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.75 |
28.56 |
10.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.94
|
4.49
|
2.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.36
|
6.65
|
4.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.45
|
7.91
|
4.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.28
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.21
|
2.13
|
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.81
|
6.79
|
5.20 |
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 |
Yes |
|
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
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) |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS AND FUTURE
PROSPECTS
The Company has performed satisfactorily during the year under, Net Sales has gone up to Rs.5950.400 millions against Rs.5234.200 millions compared to previous year and Net profit after tax stood at Rs. 56.400 millions against Rs.238.800 millions compared to previous year. The Net sales increased by13.68 % during the current year when compared with previous year in value terms and the sales in quantity is increased by 7.30%, when compared with previous year.
The Company has installed Nickel Plating Plant to manufacture Nickel Coated Wires during the year which has started commercial production in October 2011.
FUTURE PROSPECTS
The Company is upgrading the existing Machineries with new equipments, to get more production and higher value addition/realization of the final products, So that the Company will have edge over their competitors. They will have the benefit of latest Technology used by the Company.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Intercorporate borrowings |
62.382 |
2.439 |
|
Total
|
62.382 |
2.439 |
FIXED ASSETS
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Computer
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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.