|
Report Date : |
12.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SURYA ALLOY INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
1/1, Camac Street, 3rd Floor, Kolkata – 700016, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.11.1990 |
|
|
|
|
Com. Reg. No.: |
21-050102 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.95.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104WB1990PLC050102 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS04850G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS5890E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Steel, Railway Track Materials and Ferro Alloys. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The downgrade reflects delays by Surya Alloy in Servicing its debt,
the delays have been caused by the company’s weak liquidity. The rating also takes into consideration on the weak performance of
the company due to which the management has failed a letter with the CDR Cell
to avail the benefit of restructuring schemes. Further, the CDR Schemes which was approved vide letter of approval
dated 29th December 2012 was successfully implemented. Business is active. Payment terms are slow and delayed. The company can be considered for business dealings on a safe and
secured 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
D (Long Term Rating) |
|
Rating Explanation |
Instruments with rating are in default or
are expected to be in default soon. |
|
Date |
14.06.2012 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. G. Bhandia |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-33-22298877 |
|
Date : |
09.12.2013 |
LOCATIONS
|
Registered Office : |
1/1, Camac Street, 3rd Floor, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91-33-22298877 |
|
Fax No.: |
91-33-22297223 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at: ·
Durgapur, West Bengal, India ·
Bajora, West Bengal, India ·
Meghalaya, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Ashish Rungta |
|
Designation : |
Managing director |
|
Address : |
5K, New Road, Alipore, Kolkata, West Bengal, India |
|
Date of Birth/Age : |
23.06.1977 |
|
Date of Appointment : |
16.05.1996 |
|
DIN No.: |
00394925 |
|
|
|
|
Name : |
Mr. Ranjan Kro |
|
Designation : |
Director |
|
Address : |
13th Mile, Tamulkuchi, Byrnihat – 793101, Meghalaya, India |
|
Date of Birth/Age : |
08.02.1970 |
|
Date of Appointment : |
01.12.2007 |
|
DIN No.: |
00548586 |
|
|
|
|
Name : |
Mr. Aloke Garodia |
|
Designation : |
Director |
|
Address : |
4A, Kanak Angan, City Centre, Durgapur - 713216, West Bengal, India |
|
Date of Birth/Age : |
07.10.1974 |
|
Date of Appointment : |
24.01.2012 |
|
DIN No.: |
05176856 |
KEY EXECUTIVES
|
Name : |
Mr. Asoke Kumar Banerjee |
|
Designation : |
Secretary |
|
Address : |
13/2/1, Amritlal Mukherjee Lane, Shibpur, Howrah – 711102, West
Bengal, India |
|
Date of Birth/Age : |
23.04.1972 |
|
Date of Appointment : |
01.11.2012 |
|
PAN No.: |
AHZPB5454H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ashish Rungta |
|
88530 |
|
Bengal General Trading Company Private Limited, India |
|
2335000 |
|
Tulsyan and Sons Private Limited, India |
|
2234500 |
|
Whitestone Consultants Private Limited, India |
|
1509000 |
|
Bhaskar Ispat Private Limited, India |
|
2872500 |
|
Vaibhav Vinimay Private Limited, India |
|
500000 |
|
Urmila Rungta |
|
20470 |
|
Total |
|
9560000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
98.86 |
|
Directors or relatives of Directors |
1.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel, Railway Track Materials and Ferro Alloys. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· State Bank of India, Commercial Branch, Kolkata, 24, Park Street, Kolkata - 700016, West Bengal, India · State Bank of Mysore, Bentinck Street Branch, 1 and 2, Old Court House Corner, Kolkata - 700001, West Bengal, India Tel. No.: 91-33-22200991 · Punjab National Bank (Lead Bank), Large Corporate Branch, 44, Park Street, Kolkata - 700016, West Bengal, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
West Bengal Industrial Development Corporation Limited, 5 Council House St., Kolkata - 700001, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
Goenka Baheti and Asociates Chartered Accountants |
|
Address : |
4B, Ganpat Bagla Road, 1st Floor, Kolkata - 700007. |
|
PAN No.: |
AAFFB5597E |
|
|
|
|
Other Related Parties : |
· Bhaskar Industrial Developments Limited CIN No.: L65993WB1978PLC031393 · Manash Forgings Private Limited CIN No.: U27106WB1988PTC045542 · Whitestone Consultants Private Limited CIN No.: U51909WB1996PTC076543 · Tulsyan and Sons Private Limited CIN No.: U51109WB1988PTC044161 · Bhaskar Shrachi Alloys Limited CIN No.: L51109WB1995PLC071126 · Bhaskar Ispat Private Limited CIN No.: U27101WB1990PTC049826 · Bengal General Trading Co. Private Limited CIN No.: U51909WB1946PTC013987 · Tirupathi Properties And Investment Private Limited CIN No.: U70101WB1965PTC026372 · Tirumala Balaji Alloys Private Limited CIN No.: U27101WB2004PTC195282 · Mak Engineering Industries Limited CIN No.: L29299WB1982PLC035339 · Parth Ispat (India) Private Limited CIN No.: U74210WB1989PTC046619 · Vaibhav Vinimay Private Limited CIN No.: U51109WB1993PTC058266 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9560000 |
Equity Shares |
Rs.10/- each |
Rs.95.600
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
95.600 |
95.600 |
90.600 |
|
(b) Reserves & Surplus |
759.370 |
945.531 |
1058.165 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
100.000 |
|
Total
Shareholders’ Funds (1) + (2) |
854.970 |
1041.131 |
1248.765 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1533.545 |
420.471 |
541.333 |
|
(b) Deferred tax liabilities (Net) |
82.866 |
82.866 |
82.866 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.217 |
2.155 |
1.340 |
|
Total Non-current Liabilities (3) |
1620.628 |
505.492 |
625.539 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
637.764 |
1421.041 |
1032.841 |
|
(b) Trade payables |
425.331 |
489.548 |
255.311 |
|
(c) Other current
liabilities |
164.114 |
449.735 |
265.132 |
|
(d) Short-term provisions |
0.354 |
1.425 |
14.007 |
|
Total Current Liabilities (4) |
1227.563 |
2361.749 |
1567.291 |
|
|
|
|
|
|
TOTAL |
3703.161 |
3908.372 |
3441.595 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1571.048 |
1605.404 |
1096.097 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.628 |
492.985 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
27.000 |
27.000 |
59.700 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.167 |
0.942 |
0.984 |
|
(e) Other Non-current assets |
4.550 |
4.550 |
4.550 |
|
Total Non-Current Assets |
1605.765 |
1638.524 |
1654.316 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
528.176 |
589.513 |
465.142 |
|
(c) Trade receivables |
985.315 |
1194.015 |
957.526 |
|
(d) Cash and cash
equivalents |
229.747 |
68.510 |
32.862 |
|
(e) Short-term loans and
advances |
350.525 |
414.471 |
328.665 |
|
(f) Other current assets |
3.633 |
3.339 |
3.084 |
|
Total Current Assets |
2097.396 |
2269.848 |
1787.279 |
|
|
|
|
|
|
TOTAL |
3703.161 |
3908.372 |
3441.595 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3514.448 |
3972.328 |
3873.959 |
|
|
|
Other Income |
42.026 |
25.596 |
16.092 |
|
|
|
TOTAL (A) |
3556.474 |
3997.924 |
3890.051 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2503.654 |
3127.223 |
2953.142 |
|
|
|
Purchases of stock-in-trade |
2.818 |
38.324 |
304.079 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(25.598) |
(13.869) |
(31.314) |
|
|
|
Employee benefit expense |
70.171 |
59.016 |
43.083 |
|
|
|
Other expenses |
867.947 |
630.767 |
326.801 |
|
|
|
TOTAL (B) |
3418.992 |
3841.461 |
3595.791 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
137.482 |
156.463 |
294.260 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
238.014 |
258.240 |
134.646 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(100.532) |
(101.777) |
159.614 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
86.461 |
81.683 |
60.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(186.993) |
(183.460) |
99.456 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.053 |
6.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(186.993) |
(183.513) |
93.154 |
|
|
|
|
|
|
|
|
|
Less |
PROVISION FOR TAX
FOR EARLIER YEARS |
0.000 |
1.145 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXCESS MAT CREDIT
PROVIDED EARLIER NOW REVERSED |
0.000 |
3.849 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD ITEMS |
(0.831) |
19.127 |
1.466 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(15.969) |
191.665 |
149.977 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
50.000 |
|
|
BALANCE CARRIED
TO THE B/S |
(202.131) |
(15.969) |
191.665 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
84.932 |
82.774 |
|
|
TOTAL EARNINGS |
NA |
84.932 |
82.774 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
149.505 |
56.010 |
|
|
|
Capital Goods |
NA |
7.424 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
156.929 |
56.010 |
|
|
|
|
|
|
|
|
|
|
Earnings /(Loss)
Per Share (Rs.) |
(19.47) |
(22.41) |
10.88 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.26)
|
(4.59) |
2.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.32)
|
(4.62) |
2.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.09)
|
(4.73) |
3.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22)
|
(0.18) |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.54
|
1.77 |
1.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71
|
0.96 |
1.14 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM BORROWINGS |
|
|
|
Other loans and advances |
37.367 |
74.496 |
|
Total |
37.367 |
74.496 |
FINANCIAL HIGHLIGHTS
During the year, the gross sales and net sales for the year stood at Rs. 4009.300 Millions and Rs. 3514.400 Millions respectively. Slowdown in steel sector resulted in lower turnover as compared to the previous year. After providing for depreciation, net loss stood at Rs. 186.900 Millions as against Rs. 183.400 Millions in the previous year, mainly due to persistent higher cost of production of steel.
FINANCIAL
RESTRUCTURING
The Company’s Corporate Debt Restructuring scheme, which was approved vide letter of approval dated 29th December, 2012 from CDR Cell, has been implemented during the year.
FUTURE PROSPECT
The Global Steel Industry continues to witness stable but slower growth in a period of economic uncertainties. India remains a bright spot in the Global Steel Industry and is the Worlds fourth largest crude steel producer. The anticipated infrastructure development and supportive Govt. measures in the country is expected to give further boost to the steel industry and your company is looking forward for a sustainable growth in the coming years.
Steel Industry is vital for overall economic development of any nation being one of the core sectors. The Indian Economy’s outlook for 2013-14 can be viewed as cautiously optimistic. In the medium term, on the back of reforms, industrialization and growing urbanization and considering the policy actions announced in the recent budget, it is projected that India would return to the robust growth of 7% to 8% in next 2 to 3 years. Considering the forecasted turnover in the economy as a whole and steel industry in particular your Company will continue to focus on its own consolidation strategy to enhance entranced value for the benefit of the shareholders at large.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10426655 |
16/05/2013 |
3,156,400,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 44, PARK STREET, KOLKATA, West Bengal - 700016, INDIA |
B75462887 |
|
2 |
10423119 |
28/03/2013 |
3,351,200,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, 44, PARK STREET, KOLKATA, West Bengal - 700016, INDIA |
B74197252 |
|
3 |
10274142 |
29/01/2011 |
4,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B08661944 |
|
4 |
10190192 |
30/11/2009 |
57,500,000.00 |
STATE BANK OF MYSORE |
BENTINCK STREET BRANCH, 1 & 2, OLD COURT HOUSE
CO |
A75269076 |
|
5 |
10187377 |
12/06/2013 * |
3,156,400,000.00 |
STATE BANK OF INDIA |
Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, INDIA |
B78398641 |
|
6 |
10188961 |
18/11/2009 |
70,000,000.00 |
STATE BANK OF INDORE |
9, BRABOURNE RAOD, KOLKATA, West Bengal - 700001, INDIA |
A74568536 |
|
7 |
10194102 |
21/12/2011 * |
335,000,000.00 |
UNITED BANK OF INDIA |
Old Court House Street Branch, 11, Hemanta Basu Sarani, Kolkata, West Bengal - 700001, INDIA |
B28560878 |
|
8 |
10181994 |
11/11/2011 * |
123,500,000.00 |
STATE BANK OF BIKANER & JAIPUR |
N. S. Road Branch, 14, N. S. Road, Kolkata, West Bengal - 700001, INDIA |
B26791434 |
|
9 |
10157770 |
12/06/2013 * |
3,156,400,000.00 |
STATE BANK OF INDIA |
Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, INDIA |
B78400702 |
|
10 |
10063387 |
29/06/2011 * |
700,000,000.00 |
INDIAN OVERSEAS BANK |
JAWAHARLAL NEHRU ROAD BRANCH, 35/1, JAWAHARLAL NEHRU ROAD, KOLKATA, West Bengal - 700072, INDIA |
B18977892 |
|
11 |
10057484 |
30/04/2007 |
47,800,000.00 |
INDIAN OVERSEAS BANK |
TEGHARIA BRANCH, 137, PODDAR VIHAR, V. I. P. ROAD, KOLKATA, West Bengal - 700052, INDIA |
A16982985 |
|
12 |
80032787 |
07/09/2009 * |
525,000,000.00 |
STATE BANK OF INDIA |
Commercial Branch, Kolkata, 24 Park Street, Kolkata, West Bengal - 700016, INDIA |
A69497550 |
|
13 |
80046828 |
05/11/2008 * |
135,000,000.00 |
WEST BENGAL INDUSTRIAL DEVELOPMENT CORPN LTD |
5 COUNCIL HOUSE ST., KOLKATA, West Bengal - 700001, INDIA |
A50622430 |
|
14 |
90255498 |
07/09/2006 * |
150,000,000.00 |
INDIAN OVERSEAS BANK |
TEGHARIA BRANCH, 137, PODDAR VIHAR, V. I. P. ROAD, KOLKATA, West Bengal - 700052, INDIA |
- |
|
15 |
90254478 |
07/09/2006 * |
73,500,000.00 |
INDIAN OVERSEAS BANK |
JAWAHARLAL NEHRU ROAD BRANCH, 35/1, JAWAHARLAL NEHRU ROAD, KOLKATA, West Bengal - 700071, INDIA |
- |
|
16 |
90255270 |
07/09/2006 * |
90,000,000.00 |
INDIAN OVERSEAS BANK |
TEGHARIA BRANCH, 137, PODDAR VIHAR, V. I. P. ROAD, KOLKATA, West Bengal - 700052, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Vehicles
· Office equipment
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.61.33 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.84.38 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
17 |
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.