MIRA
INFORM REPORT
|
Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH URJA AND METALS LIMITED (w.e.f. 29.06.2010) |
|
|
|
|
Formerly Known
As : |
SHREE VIRANGANA STEELS LIMITED |
|
|
|
|
Registered
Office : |
Raheja Centre, Office No. - 206, 2nd Floor, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.11.1993 |
|
|
|
|
Com. Reg. No.: |
11-074950 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 326.434 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109MH1993PLC074950 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01005E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS5396N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Sponge Iron, Ms Billets and Power. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a wholly-owned subsidiary of Crest Steel and Power Private
Limited. Subject is an established company having a moderate track record. Management
has failed to file the latest financials of 2013 with the government
department but the same are not available with us. As per the available
record, the external borrowings of the company tends to be increasing
momentously during 2012. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. In view of experienced promoters, the company can be considered for
business dealings with some caution. |
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
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 |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
06.05.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
06.05.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (EMPLOYEE PROVIDENT FUND) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Suresh Rathi |
|
Designation : |
Finance Head |
|
Contact No.: |
91-7116-305057 |
|
Date : |
18.12.2013 |
LOCATIONS
|
Registered Office : |
Raheja Centre, Office No. - 206, 2nd Floor, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
308, Ceejay House, |
|
Tel. No.: |
91-22-248120000 |
|
Fax No.: |
91-22-24812122 |
|
E-Mail : |
|
|
|
|
|
Domestic Office 1: |
126 -128, 1st floor, Shriram Towers, Kingsway, Sadar, Near NIT Office,
Nagpur – 400001, Maharashtra, India |
|
Telefax No. : |
91-712-2527120/2527122 |
|
E-Mail : |
|
|
|
|
|
Domestic Office 2: |
Mouzaukkerwahi Village Heti, Umred Road, District Nagpur – 441204, Maharashtra, India |
|
|
|
|
Factory : |
Mouza Ukkerwadi, Village : Heti, |
|
Tel. No.: |
91-7116-249071/73 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Surendra Champalal Lodha |
|
Designation : |
Whole-time director |
|
Address : |
126 -128, 1st floor, |
|
Date of Birth/Age : |
05.05.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
14.03.2006 |
|
DIN No.: |
00044782 |
|
|
|
|
Name : |
Mr. Abhay Narendra Lodha |
|
Designation : |
Director |
|
Address : |
Vaitarna Building, Flat No. 502, Sir Pochkhanwala Road, Worli Seaface,
Worli, Mumbai-400030, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1971 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.04.2008 |
|
DIN No.: |
00052194 |
|
|
|
|
Name : |
Mr. Ashwin Narendra Lodha |
|
Designation : |
Director |
|
Address : |
502, Vaitarna Worli Sagar CHS Limited, Sir Pochkhanwala Road, Worli Seaface,
Worli, Mumbai-400030, Maharashtra, India |
|
Date of Appointment : |
07.06.2012 |
|
DIN No.: |
00066948 |
|
|
|
|
Name : |
Mr. Narendra Champalal Lodha |
|
Designation : |
Director |
|
Address : |
Flat No. 4, Cozy Mansion, 100/25, Gidney Park, Salisbury Park, Pune -
411037, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1947 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00164574 |
|
|
|
|
Name : |
Mr. Shishir Shivaji Hiray |
|
Designation : |
Additional director |
|
Address : |
Opposite LIC Camp Road, Malegaon - 423203, Maharashtra, India |
|
Date of Appointment : |
19.03.2013 |
|
DIN No.: |
02032125 |
KEY EXECUTIVES
|
Name : |
Mr. Suresh Rathi |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Crest Steel and Power Private Limited, |
|
4223994 |
|
Abhay Narendra Lodha |
|
1 |
|
Ashwin Lodha |
|
1 |
|
Sheela Lodha |
|
1 |
|
Mona Lodha |
|
1 |
|
Surendra Lodha |
|
1 |
|
Rajesh Kumar Jain |
|
1 |
|
Total |
|
4224000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Crest Steel and Power Private Limited, |
|
916667 |
|
Total |
|
916667 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Sponge Iron, Ms Billets and Power. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Sponge Iron |
MT |
NA |
60000 |
|
Steel Melting Shop |
MT |
NA |
72000 |
|
Power |
MW |
NA |
30 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· Allahabad Bank, Industrial Finance Branch, 37, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India · State Bank of Hydrabad, 1204, Ashok Mahal, Tulloch Road, Colaba, Mumbai - 400039, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain and Chhoriya Chartered Accountants |
|
Address : |
59, |
|
PAN No.: |
AADFJ9495M |
|
|
|
|
Holding Company : |
Crest Steel and
Power Private Limited, CIN No.: U27109CT2004PTC016643 |
|
|
|
|
Associates : |
Topworth Steels
and Power Private Limited, CIN No.: U51420MH2004PTC146381 Akshata
Mercantile Private Limited, CIN No.: U51909MH2001PTC133035 Topworth Pipes
and Tubes Private Limited, CIN No.: U29120MH2005PTC157395 Satyarth Steel and
Power Private Limited, CIN No.: U27106CT2002PTC015375 Poscho Steels
Private Limited, CIN No.: U51100MH1999PTC121425 |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.100/- each |
Rs.475.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.485.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4224000 |
Equity Shares |
Rs.100/-
each |
Rs.422.400
Millions |
|
916667 |
Preference Shares |
Rs.10/- each |
Rs.9.167 Millions |
|
|
Total |
|
Rs.431.567 Millions |
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.100/- each |
Rs.475.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.485.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3172669 |
Equity Shares |
Rs.100/- each |
Rs.317.267 Millions |
|
916667 |
Preference Shares |
Rs.10/- each |
Rs.9.167 Millions |
|
|
Total |
|
Rs.326.434
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 |
|
326.434 |
175.100 |
|
(b) Reserves & Surplus |
|
2220.590 |
821.212 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
155.000 |
939.300 |
|
Total
Shareholders' Funds (1) + (2) |
|
2702.024 |
1935.612 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
3933.693 |
2303.315 |
|
(b) Deferred tax liabilities (Net) |
|
172.114 |
83.561 |
|
© Other long term liabilities |
|
1194.365 |
671.625 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
liabilities (3) |
|
5300.172 |
3058.501 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
808.966 |
508.217 |
|
(b) Trade payables |
|
4044.050 |
3914.022 |
|
(c) Other current
liabilities |
|
23.619 |
40.406 |
|
(d) Short-term provisions |
|
59.148 |
26.718 |
|
Total Current
liabilities (4) |
|
4935.783 |
4489.363 |
|
|
|
|
|
|
TOTAL |
|
12937.979 |
9483.476 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2575.493 |
2637.232 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
3814.339 |
1455.859 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
€ Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.840 |
1.840 |
|
€ Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-current
assets |
|
6391.672 |
4094.931 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
450.628 |
220.124 |
|
(b) Inventories |
|
1075.341 |
741.030 |
|
(c) Trade receivables |
|
3565.581 |
2883.150 |
|
(d) Cash and cash
equivalents |
|
6.646 |
26.871 |
|
(e) Short-term loans and
advances |
|
1448.111 |
1517.370 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
6546.307 |
5388.545 |
|
|
|
|
|
|
TOTAL |
|
12937.979 |
9483.476 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
175.100 |
|
|
2] Share Application Money |
|
|
257.800 |
|
|
3] Reserves & Surplus |
|
|
765.768 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1198.668 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1923.422 |
|
|
2] Unsecured Loans |
|
|
436.863 |
|
|
TOTAL BORROWING |
|
|
2360.285 |
|
|
DEFERRED TAX LIABILITIES |
|
|
34.046 |
|
|
SALES TAX DEFERRAL |
|
|
103.986 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3696.985 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
395.518 |
|
|
Capital work-in-progress |
|
|
2509.969 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.205 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
367.962
|
|
|
Sundry Debtors |
|
|
2224.229
|
|
|
Cash & Bank Balances |
|
|
354.999
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
1034.219
|
|
Total
Current Assets |
|
|
3981.409
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2872.743
|
|
|
Other Current Liabilities |
|
|
311.434
|
|
|
Provisions |
|
|
52.018
|
|
Total
Current Liabilities |
|
|
3236.195
|
|
|
Net Current Assets |
|
|
745.214
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
PRE OPERATIVE |
|
|
46.079 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3696.985 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10443.628 |
6038.386 |
4609.677 |
|
|
|
Other Income |
36.906 |
29.898 |
81.695 |
|
|
|
TOTAL |
10480.534 |
6068.284 |
4691.372 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
9505.177 |
5674.573 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(56.133) |
(149.481) |
|
|
|
|
Employee benefit expense |
40.923 |
25.293 |
|
|
|
|
Other expenses |
190.821 |
99.804 |
|
|
|
|
TOTAL |
9680.788 |
5650.189 |
4417.964 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
799.746 |
418.095 |
273.408 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
374.650 |
201.522 |
107.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
425.096 |
216.573 |
166.369 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
129.734 |
82.805 |
13.621 |
|
|
|
|
|
|
|
|
|
|
TOTAL PROFIT
BEFORE EXCEPTIONAL ITEMS, AND TAX |
295.362 |
133.768 |
152.748 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS BEFORE TAX |
0.000 |
0.113 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
295.362 |
133.655 |
152.748 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
147.653 |
78.210 |
48.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
147.709 |
55.445 |
104.437 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
237.079 |
181.634 |
77.197 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
237.079 |
181.634 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
131.897 |
267.098 |
|
|
|
Components and Spares Parts |
NA |
1.028 |
0.000 |
|
|
|
Capital Goods |
NA |
0.195 |
2.051 |
|
|
|
Trading activities |
NA |
194.643 |
2.051 |
|
|
TOTAL IMPORTS |
NA |
327.763 |
271.200 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
46.56 |
31.66 |
59.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.41
|
0.91 |
2.27
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.83
|
2.21 |
3.31
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.24
|
1.66 |
3.49
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.07 |
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.76
|
1.45 |
1.97
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.20 |
1.23
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last 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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
681.742 |
395.849 |
|
Other loans and advances |
127.224 |
112.368 |
|
Total |
808.966 |
508.217 |
REVIEW OF
OPERATIONS:
During the year,
the Company’s Net Income from operations stood at Rs. 10443.628 Millions as compared
to Rs. 6038.386 Millions in the previous year. Profit before finance cost and
taxation for the year stood at Rs. 670.012 Millions against Rs. 335.178
Millions in the previous year. Profit after Tax increased from Rs. 55.445
Millions in previous year to Rs. 147.709 Millions in the year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10441281 |
26/07/2013 |
300,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, 37, Mumbai Samachar Marg, Fort, Mumbai, Maharashtra - 400023, INDIA |
B81308629 |
|
2 |
10434949 |
26/06/2013 |
400,000,000.00 |
Punjab and Maharashtra Co-operative Bank Limited |
Office No-4 & 5, 3rd Floor, Dream Mall, L.B.S Marg, Bhandup (W), MUMBAI, Maharashtra - 400078, INDIA |
B78792801 |
|
3 |
10430874 |
11/06/2013 * |
1,403,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, 37,Mumbai Samachar Marg, Fort, Mumbai, Maharashtra - 400023, INDIA |
B77619302 |
|
4 |
10431076 |
24/05/2013 |
100,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Dalamal Towers, 211, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B77081487 |
|
5 |
10390654 |
16/11/2012 |
150,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, 37,Mumbai Samachar Marg, Fort, Mumbai, Maharashtra - 400023, INDIA |
B63602544 |
|
6 |
10381548 |
20/09/2012 |
500,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, FORT, MUMBAI, Maharashtra - 400023, INDIA |
B60085792 |
|
7 |
10372563 |
21/08/2012 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B56388614 |
|
8 |
10362357 |
12/06/2012 |
450,000,000.00 |
State Bank of Bikaner and Jaipur |
Commercial Network Branch, 239, P. D'Mello Road, Near G.P.O, Mumbai, Maharashtra - 400001, INDIA |
B42322958 |
|
9 |
10363588 |
11/05/2012 |
50,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Dalamal Towers, Gr. Floor, Nariman Point, Mumbai, Maharashtra - 400021, INDIA |
B42853424 |
|
10 |
10353730 |
10/04/2012 * |
500,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B39042106 |
|
11 |
10338497 |
02/02/2012 |
50,000,000.00 |
Oriental Bank of Commerce |
Prabhadevi Branch, Aman Chambers, Veer Savarkar |
B33399627 |
|
12 |
10334938 |
01/02/2012 |
1,850,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B31844145 |
|
13 |
10315279 |
15/03/2013 * |
3,450,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B73488082 |
|
14 |
10303458 |
25/07/2011 |
6,898,700.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B19278464 |
|
15 |
10302085 |
28/08/2012 * |
2,721,300,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B56718448 |
|
16 |
10293088 |
15/03/2013 * |
3,450,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B73487217 |
|
17 |
10277771 |
05/04/2011 |
500,000,000.00 |
STATE BANK OF PATIALA |
ATLANTA, 1ST FLOOR, JAMNALAL BAJAJ MARG, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B09764234 |
|
18 |
10273840 |
11/03/2011 |
14,338,101.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B08229072 |
|
19 |
10269072 |
22/02/2011 |
500,000,000.00 |
BANK OF BARODA |
FORT UNIVERSITY BRANCH, MUMBAI, Maharashtra - 400023, INDIA |
B06408298 |
|
20 |
10257995 |
16/02/2011 * |
1,000,000,000.00 |
State Bank of India |
BACKBAY RECLATMATION BRANCH, RAHEJA CHAMBARS, FREE PRESS JOURNAL ROAD, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B10199677 |
|
21 |
10247397 |
09/09/2010 |
550,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, MUMBAI SAMACHAR MARG, MUMBA, Maharashtra - 400023, INDIA |
A96754767 |
|
22 |
10246131 |
01/09/2010 |
550,000,000.00 |
BANK OF BARODA |
FORT UNIVERSITY, MUMBAI, Maharashtra - 400001, INDIA |
A96694633 |
|
23 |
10211838 |
10/03/2010 |
653,000,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
Prabhadevi Branch, Aman Chambers, 1st Floor, Veer, |
A82994799 |
|
24 |
10206990 |
25/02/2010 |
850,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
A81184319 |
|
25 |
10188190 |
11/11/2009 |
653,000,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
Prabhadevi Branch, Aman Chambers, 1st Floor, Veer, |
A74296492 |
|
26 |
10165868 |
28/08/2012 * |
1,750,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B56717747 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
AS PER WEBSITE DETAILS:
PRESS RELEASE:
PROBE INTO COAL BLOCKS ALLOTMENT FINDS MISSING FIRM, FUEL DIVERSION
New Delhi, Tue Jul 03 2012
An internal probe by the coal ministry into the allotment of blocks between 2006 and 2009 has found cases of obscure firms allegedly merging with other firms after getting their hands on the resource, or allegedly diverting excess fuel in violation of norms.
The ongoing inquiry began after a CAG report in March alleged irregularities in the allotment of blocks in 2004-2009. As reported earlier, the ministry has found allotments being misused by firms which did not deserve an allotment, or are squatting on blocks without starting production.
According to the latest findings, a company called Veerangana Steels Limited, which was allotted three coal blocks in Yavatmal, Maharashtra, in 2005, no longer exists. The Nagpur-based firm had been re-christened as Topworth Urja and Metals Limited, and merged with another firm called Crest Steel and Power Limited, a Chhattisgarh-based steel trading firm.
In a second case, the ministry found that another Nagpur-based firm, Sunflag Iron and Steel Company, which was allotted Belgaon block in Wardha, Maharashtra, and has been producing coal from it since December 2007, could be diverting excess fuel.
The Coal Controller's Organisation (CCO) has informed the ministry that between December 2008 and November 2009, the firm produced 1.2 lakh tonnes, and was supposed to use it all for its 15 MW captive power plant in Bhandara.
IRREGULARITIES
Veerangana Steels Limited rechristened as Topworth Urja and Metals Limited, merged with Crest Steel and Power Limited, says report
Sunflag Iron and Steel Company supposed to use all coal for power plant; but could be diverting, shows probe
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.61.92 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.