MIRA
INFORM REPORT
|
Report Date : |
12.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
COSMIC FERRO ALLOYS LIMITED |
|
|
|
|
Formerly Known
As : |
COSMIC FERRO ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sikkim Commerce House 4/1, Middleton Street, 4th Floor,
Shakespeare Sara, Kolkata – 700071, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.07.2003 |
|
|
|
|
Com. Reg. No.: |
21-096622 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.89.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104WB2003PLC096622 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALC03766A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC1730C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer Ferro Manganese, Silico Manganese and by-product Ferro
Slag |
|
|
|
|
No. of Employees
: |
175 (Approximately) |
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 2660000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Even though the company has seen a slight increase in the sales
turnover there appear a drastic dip in the net profitability which has
negatively impacted the profit margin during 2012. The rating also take into consideration the increase in raw material
cost which inturn has increased the input costs which further has declined
the profitability position. However, the subject possess an above average
capital structure marked by moderate networth. Trade relations are fair. Business is active. Payments terms are slow
but correct. The company can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
November 26, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
November 26, 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 : |
Sikkim Commerce House 4/1, Middleton Street, 4th Floor,
Shakespeare Sara, Kolkata – 700071, West Bengal, India |
|
Tel. No.: |
91-33-30576563/64 |
|
Fax No.: |
91-33-22836553 |
|
E-Mail : |
cosmicgrp@hotmail.com cosmicgrp@yahoo.com
|
|
Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Satya Narayan Bidawatka |
|
|
Designation : |
Managing Director |
|
|
Address : |
82- 9, Ballygunge, 68, Gariahat, Kolkata-700019, West |
|
|
Date of Birth/Age : |
28.11.1947 |
|
|
Date of Appointment : |
23.07.2003 |
|
|
DIN No.: |
00013310 |
|
|
|
|
|
|
Name : |
Mr. |
|
|
Designation : |
Director |
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|
Address : |
188-E, |
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|
Date of Birth/Age : |
05.07.1962 |
|
|
Date of Appointment : |
23.07.2003 |
|
|
DIN No.: |
00054438 |
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|
|
|
|
|
Name : |
Mr. Satish Kumar Birla |
|
|
Designation : |
Director |
|
|
Address : |
190-A, |
|
|
Date of Birth/Age : |
03.11.1963 |
|
|
Date of Appointment : |
23.07.2003 |
|
|
DIN No.: |
00015809 |
|
|
Other Directorship : |
|
|
|
|
|
|
|
Name : |
Mr. Rajendra Nath Basuroy |
|
|
Designation : |
Director |
|
|
Address : |
82- 9, Ballygunge, 68, Gariahat, Kolkata-700019, West |
|
|
Date of Birth/Age : |
01.02.1934 |
|
|
Date of Appointment : |
04.12.2006 |
|
|
DIN No.: |
02008327 |
|
|
|
|
|
|
Name : |
Mr. Pramod Omprakash Agarwal |
|
|
Designation : |
Director |
|
|
Address : |
82- 9, Ballygunge, 68, Gariahat, Kolkata-700019, West |
|
|
Date of Birth/Age : |
08.06.1951 |
|
|
Date of Appointment : |
04.12.2006 |
|
|
DIN No.: |
00182583 |
|
|
|
|
|
|
Name : |
Mr. Nitai Chandra Pal |
|
|
Designation : |
Director |
|
|
Address : |
BE-29, Sector-I, |
|
|
Date of Birth/Age : |
10.02.1946 |
|
|
Date of Appointment : |
04.12.2006 |
|
|
DIN No.: |
01924081 |
|
|
|
|
|
|
Name : |
Mr. Vijay Kumar Birla |
|
|
Designation : |
Additional Director |
|
|
Address : |
93, Aasha Apartments, Flat 1/C-6, 93, Deshpran Shasmal Road, Kolkata –
700033, West Bengal, India |
|
|
Date of Birth/Age : |
29.02.1960 |
|
|
Date of Appointment : |
19.01.2011 |
|
|
DIN No.: |
00540548 |
|
|
|
|
|
|
Name : |
Mr. Raman Kumar Agarwal |
|
|
Designation : |
Additional Director |
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|
Address : |
190-A, |
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|
Date of Birth/Age : |
02.08.1966 |
|
|
Date of Appointment : |
19.01.2011 |
|
|
DIN No.: |
00540572 |
|
|
|
|
|
|
Name : |
Mrs. Parvati Devi Birla |
|
|
Designation : |
Director |
|
|
Address : |
BE-29, Sector – I, Salt Lake, Kolkata – 700064, West Bengal, India |
|
|
Date of Birth/Age : |
01.11.1941 |
|
|
Date of Appointment : |
30.09.2011 |
|
|
DIN No.: |
03622806 |
|
KEY EXECUTIVES
|
Name : |
Ms. Priyanka Kabra |
|
Designation : |
Secretary |
|
Address : |
18/1/G, T.C. Mukherjee Street, Rishra, Hooghly – 712248, West Bengal,
India |
|
Date of Birth/Age : |
26.09.1985 |
|
Date of Appointment : |
04.11.2011 |
|
PAN No. : |
BSEPK9624F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Satyanarayan
Bidawatka |
147000 |
|
Ravi Kumar Birla |
57000 |
|
Satish Kumar Birla |
141000 |
|
Adarsh Technocom Private Limited, India |
919000 |
|
Anand Mohta |
130000 |
|
D.K. Mohta |
180000 |
|
D.K. Mohta and Sons HUF |
150000 |
|
Jugal Kishore Birla |
70000 |
|
Madhu Birla |
50000 |
|
Manju Birla |
50000 |
|
Parvati Devi Birla |
262000 |
|
Prabhu Dayal Birla |
115000 |
|
Raman Kumar Agarwal |
37500 |
|
Raj Laxmi Mohta |
70000 |
|
Kamla Devi Maheshwari |
120000 |
|
Vijay Kumar Birla |
70000 |
|
Vivek Mohta |
92000 |
|
AAR ESS Homes private Limited, India |
260000 |
|
Mamata Bidawatka |
40000 |
|
Preeti Birla |
70000 |
|
Pushpa Bidawatka |
75000 |
|
Pushpa Devi Birla |
40000 |
|
S.N. Bidwatka and Sons HUF , |
50000 |
|
Subrata Roy |
55500 |
|
Sudha Birla |
32600 |
|
Suranjana Birla |
38500 |
|
V.K. Birla and Sons HUF, |
50000 |
|
Archana Impex Private Limited, |
570000 |
|
Vista Vision Private Limited , |
2157400 |
|
Devi Prasad Pansdey |
9000 |
|
R.S. Birla HUF |
70000 |
|
Apollo Vinimay Private Limited, |
1004500 |
|
Cosmic Steels Private Limited, |
300000 |
|
Velmon Tie Up Private Limited, |
1437000 |
|
|
|
|
Total |
8920000 |
As on: 05.02.2013
|
Names of Allottee |
No. of Shares |
|
Colen Chemical Private Limited |
31250 |
|
Eeery Tie Up Private Limited |
46875 |
|
Manali Vinimay Private Limited |
46875 |
|
Manimudra Investment Private Limited |
35000 |
|
Genuine Distributors Private Limited |
5000 |
|
Subhkari Mercantile Private Limited |
70000 |
|
Velmon Tie-Up Private Limited |
592500 |
|
|
|
|
Total |
827500 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
74.53 |
|
Directors or relatives of Directors |
25.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Ferro Manganese, Silico Manganese and by-product Ferro
Slag |
||||||
|
|
|
||||||
|
Products : (As on 31.03.2011) |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
|
Silico Manganese |
MT |
NA |
NA |
11799.970 |
|
Ferro Manganese |
MT |
NA |
NA |
32368.320 |
|
Slag |
MT |
NA |
NA |
30725.000 |
GENERAL INFORMATION
|
No. of Employees : |
175 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, 8, N.S.
Road, Kolkata – 700001, West Bengal, India ·
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri,
Baroda – 390015, Gujarat, India ·
The Federal Bank Limited, Ballygunge Branch, 1/D,
Mandiville Gardens, Kolkata – 700019, West Bengal, India ·
DBS Bank limited, 4A, Nandalal Basu Sarani,
Kolkata – 700071, West Bengal, India ·
Bank of Baroda, India Exchange Branch, 4, India
Echange Place, Kolkata – 700001, West Bengal, India |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B Jain and Company Chartered Accountants |
|
Address : |
26, |
|
Tel. No.: |
91-33-22434933/ 4/ 5 |
|
E-Mail : |
ACQPJ9965K |
|
PAN No. : |
|
|
|
|
|
Associates : |
· Pragati Realtors Private Limited CIN No. U45201WB2002PTC095103 · Citizen Advertising Agency (India) Private Limited CIN No. : U74300WB2008PTC127753 · Aar Ess Homes Private Limited · Adarsh Techno Com Private Limited |
|
|
|
|
Related Parties : |
· Apollo Vinimay Private Limited · Archana Impex Private Limited · Adarsh Engineering · Maxworth Industries · Archana Industries · Cosmic Engineers |
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs. 125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8920000 |
Equity Shares |
Rs.10/- each |
Rs.89.200 Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital : Rs.
125.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 97.475
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
89.200 |
89.200 |
|
(b) Reserves & Surplus |
|
576.398 |
560.562 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
665.598 |
649.762 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
99.877 |
150.368 |
|
(b) Deferred tax liabilities (Net) |
|
80.368 |
78.405 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
180.245 |
228.773 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
241.255 |
337.215 |
|
(b) Trade payables |
|
903.278 |
616.625 |
|
(c) Other current
liabilities |
|
56.453 |
65.769 |
|
(d) Short-term provisions |
|
67.789 |
62.982 |
|
Total Current Liabilities (4) |
|
1268.775 |
1082.591 |
|
|
|
|
|
|
TOTAL |
|
2114.618 |
1961.126 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
622.193 |
642.586 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
150.006 |
53.793 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.000 |
1.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
2.446 |
4.572 |
|
Total Non-Current Assets |
|
775.645 |
701.951 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
655.159 |
711.572 |
|
(c) Trade receivables |
|
219.786 |
247.105 |
|
(d) Cash and cash
equivalents |
|
247.831 |
178.177 |
|
(e) Short-term loans and
advances |
|
130.866 |
87.437 |
|
(f) Other current assets |
|
85.331 |
34.884 |
|
Total Current Assets |
|
1338.973 |
1259.175 |
|
|
|
|
|
|
TOTAL |
|
2114.618 |
1961.126 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
74.196 |
|
|
2] Share Application Money |
|
|
72.355 |
|
|
3] Reserves & Surplus |
|
|
451.582 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
598.133 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
389.783 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
389.783 |
|
|
DEFERRED TAX LIABILITIES |
|
|
59.480 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1047.396 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
508.881 |
|
|
Capital work-in-progress |
|
|
113.645 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
589.906 |
|
|
Sundry Debtors |
|
|
352.771 |
|
|
Cash & Bank Balances |
|
|
194.577 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
93.753 |
|
Total
Current Assets |
|
|
1231.007 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
727.011 |
|
|
Other Current Liabilities |
|
|
33.944 |
|
|
Provisions |
|
|
46.182 |
|
Total
Current Liabilities |
|
|
807.137 |
|
|
Net Current Assets |
|
|
423.870 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1047.396 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2858.000 |
2730.327 |
2695.838 |
|
|
|
Other Income |
43.260 |
19.691 |
77.400 |
|
|
|
TOTAL |
2901.260 |
2750.018 |
2773.238 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1595.769 |
1717.189 |
|
|
|
|
Purchases of stock-in-trade |
7.695 |
11.599 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(41.692) |
(65.223) |
|
|
|
|
Employee benefit expense |
76.340 |
82.487 |
|
|
|
|
Other expenses |
1132.860 |
812.396 |
|
|
|
|
TOTAL |
2770.972 |
2558.448 |
2599.913 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
130.288 |
191.570 |
173.325 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
71.829 |
75.722 |
41.703 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
58.459 |
115.848 |
131.622 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
35.853 |
31.159 |
27.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
22.606 |
84.689 |
104.390 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.770 |
35.725 |
34.711 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
15.836 |
48.964 |
69.679 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
251.004 |
202.040 |
132.361 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
266.840 |
251.004 |
202.040 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
1672.399 |
1250.496 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.78 |
5.49 |
9.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.54
|
1.78 |
2.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.79
|
3.10 |
3.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.68
|
6.70 |
5.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.13 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.51
|
0.75 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.16 |
1.52 |
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) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
---------------------- |
|
26] |
Buyer visit
details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
OPERATIONAL
REVIEW:
The Company is
enjoying a strong domestic and global presence. They have achieved a turnover
of over Rs. 2858.000 millions for the year ended 31st March 2012.
During 2011-12, exports accounted for 60% of total turnover. The company also
focuses on the domestic market. The sale prices of Ferro Alloys have also been
showing upward movement. The products manufactured are basic inputs for
manufacture of steel and for any type of steel or alloy casting. Hence Future
of the company is very bright considering the upbeat prospect of the steel
industry.
INDEX CHARGES:
|
S .No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10425538 |
16/04/2013 |
100,000,000.00 |
DBS BANK LTD. |
4A, Nandalal Basu Sarani, Kolkata, West Bengal - 700071, INDIA |
B75075689 |
|
2 |
10421087 |
02/05/2013 * |
110,000,000.00 |
DBS BANK LTD. |
4A, Nandalal Basu Sarani, Kolkata, West Bengal - 700071, INDIA |
B78061678 |
|
3 |
10387729 |
16/04/2013 * |
220,000,000.00 |
DBS BANK LTD. (Acting as Security Trustee
on behal |
4A, Nandalal Basu Sarani, Kolkata, West Bengal - 700071, INDIA |
B74026261 |
|
4 |
10344521 |
05/07/2013 * |
100,000,000.00 |
DBS BANK LTD. |
KOLKATA BRANCH, 4A, NANDALAL BASU SARANI, KOLKATA |
B78906211 |
|
5 |
10297774 |
29/06/2011 |
180,000,000.00 |
ICICI BANK LIMITED |
3A, GURUSADAY ROAD, 2ND FLOOR, KOLKATA, West Bengal - 700019, INDIA |
B17060237 |
|
6 |
10232915 |
24/06/2010 |
435,000,000.00 |
BANK OF BARODA |
INDIA EXCAHNGE BRANCH, 4, INDIA ECHANGE PLACE, KOLKATA, West Bengal -
700001, INDIA |
A91642678 |
|
7 |
10214439 |
03/03/2010 |
55,000,000.00 |
THE FEDERAL BANK LIMITED |
Ballygunge Branch, 1/D Mandiville Garden, Kolkata |
A83841049 |
|
8 |
10169336 |
16/09/2011 * |
1,550,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
Commercial Branch, N.S. Road, 8, N. S. Road, Kolkata, West Bengal -
700001, INDIA |
B23686918 |
|
9 |
10089349 |
08/01/2008 |
110,000,000.00 |
THE FEDERAL BANK LIMITED |
Ballygunge Branch, 1/D Mandiville Garden, Kolkata |
A32376964 |
|
10 |
10066677 |
04/09/2007 |
35,000,000.00 |
THE FEDERAL BANK LIMITED |
Ballygunge Branch, 1/D Mandiville Garden, Kolkata |
A22199624 |
|
11 |
10047275 |
26/02/2007 |
25,500,000.00 |
SYNDICATE BANK |
42, G. T. ROAD (SOUTH), HOWRAH, HOWRAH, West Beng |
A13136767 |
|
12 |
80010497 |
09/09/2010 * |
477,000,000.00 |
THE FEDERAL BANK LIMITED |
Ballygunge Branch, 1/D Mandiville Garden, Kolkata |
A96865381 |
|
13 |
80023521 |
23/05/2013 * |
2,036,900,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
Commercial Branch, N. S. Road, 8, N. S. Road, Kolkata, West Bengal -
700001, INDIA |
B75917856 |
|
14 |
80028753 |
04/10/2008 * |
258,000,000.00 |
SYNDICATE BANK |
LARGE CORPORATE BRANCH, IIIOCO HOUSE 1, BRABOURNE ROAD, KOLKATA, West Bengal
- 700001, INDIA |
A51347151 |
|
15 |
80023531 |
10/11/2008 * |
931,600,000.00 |
STATE BANK OF INDIA |
Commercial Branch, N. S. Road,, 8, N. S. Road , Gillander House,
KOLKATA, West Bengal - 700001, INDIA |
A51749109 |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Factory Building
· Plant and Machinery
· Office Equipments
· Computer
· Other Equipment
· Furniture and Fixture
· 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 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.61.11 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.