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|
Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SMW METAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No 3/8, 2nd Floor, sab House, Asaf Ali Road, New
Delhi – 110002 |
|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
02.08.1996 |
|
|
|
|
Com. Reg. No.: |
56-080886 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 6.248 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100DL1996PTC080886 |
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS23424C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS3466Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Ferrous and Non Ferrous Metal (Aluminium) |
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|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 210000 |
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|
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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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Building No 3/8, 2nd Floor, sab House, Asaf Ali Road, New
Delhi – 110002, India |
|
Tel. No.: |
91-11-23247868 / 23247869 |
|
Fax No.: |
91-11-23260320 |
|
E-Mail : |
|
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Branch Office : |
Shop R1-227, Ground Floor, Near RHB Colony, Industrial Area, Bhiwadi,
Alwar – 301019, Rajasthan, India |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Adish Mohinder Jain |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
K-4/20, Model Town – II, Delhi – 110009, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.10.1987 |
||||||||||||||||||||||||||||||||
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
03042470 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||
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Name : |
Mr. Aditya Ravinder Nath Jain |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
K-4/20, K-4 Block Model Town – II, Delhi – 110009, India |
||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
24.10.1988 |
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Date of Appointment : |
01.04.2010 |
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DIN No.: |
03077836 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mohinder Jain |
||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
K-4/20, Model Town – II, Delhi – 110009, India |
||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
26.09.1962 |
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Date of Appointment : |
01.10.1996 |
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DIN No.: |
00800973 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ravinder Nath Jain |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
K-4/20, Model Town – II, Delhi – 110009, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.03.1959 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.10.1996 |
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DIN No.: |
00801000 |
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Other Directorship :
|
|||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||
|
Name : |
Mr. Jatinder Nath Jain |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||
|
Address : |
K-4/20, Model Town – II, Delhi – 110009, India |
||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.01.1929 |
||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.08.1996 |
||||||||||||||||||||||||||||||||
|
DIN No.: |
02475646 |
||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mohinder Jain |
|
123000 |
|
Anita Jain |
|
7000 |
|
Jatinder Nath Jain |
|
60000 |
|
Mr. Ravinder Nath Jain |
|
37500 |
|
Mr. Adish Mohinder Jain |
|
122375 |
|
Mr. Aditya Ravinder Nath Jain |
|
274875 |
|
TOTAL |
|
624750 |
AS ON 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Ferrous and Non Ferrous Metal (Aluminium) |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||||
|
Facilities : |
Rs in Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Satish Agarwal and Associates Chartered Accountants |
|
Address : |
4/5, Asaf Ali Road, New Delhi – 110002, India |
|
PAN No. : |
ABCFS9747B |
CAPITAL STRUCTURE
AS ON 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
624750 |
Equity Share |
Rs.10/- each |
Rs. 6.248 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 |
6.248 |
4.330 |
4.330 |
|
|
2] Share Application Money |
16.800 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
29.110 |
13.193 |
8.854 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
52.158 |
17.523 |
13.184 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
34.097 |
18.354 |
28.987 |
|
|
2] Unsecured Loans |
27.592 |
7.500 |
0.000 |
|
|
TOTAL BORROWING |
61.689 |
25.854 |
28.987 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
113.847 |
43.377 |
42.171 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.823 |
2.204 |
2.818 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.265 |
0.231 |
0.180 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
21.088
|
4.577 |
19.475 |
|
|
Sundry Debtors |
142.540
|
119.145 |
49.322 |
|
|
Cash & Bank Balances |
33.632
|
10.373 |
7.228 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
13.728
|
21.616 |
20.535 |
|
Total
Current Assets |
210.988
|
155.711 |
96.560 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors and Advances from customers |
97.149
|
113.090 |
55.816 |
|
|
Expenses Payable |
0.120
|
1.329 |
1.199 |
|
|
Provisions |
1.960
|
0.350 |
0.372 |
|
Total
Current Liabilities |
99.229
|
114.769 |
57.387 |
|
|
Net Current Assets |
111.759
|
40.942 |
39.173 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
113.847 |
43.377 |
42.171 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
952.524 |
749.125 |
651.931 |
|
|
|
Other Income |
36.130 |
25.507 |
NA |
|
|
|
TOTAL (A) |
988.654 |
774.632 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
961.046 |
728.557 |
NA |
|
|
|
Freight Inward |
0.808 |
1.847 |
NA |
|
|
|
Administrative and Other Expenses |
4.856 |
5.810 |
NA |
|
|
|
Payment to Employees |
2.438 |
2.047 |
NA |
|
|
|
Selling and Distribution Expenses |
10.154 |
8.037 |
NA |
|
|
|
Increase / (Decrease) in Stock |
(16.511) |
14.898 |
NA |
|
|
|
TOTAL (B) |
962.791 |
761.196 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.863 |
13.436 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.056 |
6.405 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.807 |
7.031 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.554 |
0.730 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
15.253 |
6.301 |
4.559 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.088 |
1.950 |
1.688 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.165 |
4.351 |
2.871 |
|
|
|
|
|
|
|
|
|
Less |
Short
Provision of Income Tax of earlier year
|
0.000 |
0.012 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.165 |
4.339 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.64 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.03
|
0.56 |
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.60
|
0.84 |
0.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.17
|
3.99 |
4.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.36 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.09
|
8.03 |
6.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.13
|
1.36 |
1.68 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been
shifted from 93, Basti Harphool Singh, Sadar Thana Road, Delhi – 110006, India
to the present address w.e.f. 01.12.2010
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27100DL1996PTC080886 |
|
Name of the
company |
SMW METAL PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3/8, 2nd Floor, Sab House, Asaf Ali Road, New Delhi
-110002, Delhi, India |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10152875 |
|
Type of charge |
Book
debts Movable
property (not being pledge) Stocks, Book Debts, Other Current And Fixed Assets |
|
Particular of
charge holder |
Andhra Bank R - 3, Green Park, New Delhi, INDIA |
|
Nature of instrument
creating charge |
Composite Agreement |
|
Date of
instrument Creating the charge |
15.09.2011 |
|
Amount secured by
the charge |
Rs. 350.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
(a)
Rate of interest SOD-Interest shall be charged base rate + 5.75% i.e. 16.50% at
presently with monthly rests or at such other rates as may be specified by
the bank from time to time. ILC/FLC/BG charges as applicable (b)
Terms of repayment Payable on demand as per sanction terms and bank norms. (c)
Margin ILC/FLC/BG - 15% cash margin (d)
Extent and operation of the charge The hypothecated assets to secure following credit limits sanctioned
by Andhra Bank to M/s. SMW Metal Pvt. Ltd a) SOD Rs.50
Millions b) ILC/FLC/BG (interchangeable)
Rs.300 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge on stocks, book debts, plant and machinery and other
current assets and fixed assets of the company both present and future. Hypothecation of goods procured under LC,BG & Counter Guarantee of
the firm. |
|
Particulars of
the present modification |
By this modification of charge the aggregate credit limits stands
enhanced from Rs.100 Millions to Rs.350 Millions to secure following credit
limits a) SOD Rs.50 Millions, b) ILC/FLC/BG (interchangeable) Rs.300 Millions. First charge on stocks,
book debts, plant and machinery and other current assets and fixed assets of
the company both present and future. Hypothecation of goods procured under
LC,BG & Counter Guarantee of the firm. Other Terms and condition remain
the same. |
Fixed Assets
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.54.27 |
|
|
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared by
: |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.