MIRA
INFORM REPORT
|
Report Date : |
31.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEGATHERM ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
123, SDF Building, Block GP, Sector V, Salt Lake City, Kolkata –
700091, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
22.06.1989 |
|
|
|
|
Com. Reg. No.: |
21-047097 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.015
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109WB1989PTC047097 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CALM02078G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Electric Induction Melting and Heating Equipments. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 657124 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There appears
some dip in the turnover and profitability of the company; it is due to
selling and distribution expenses for overseas project. However, networth
appears to be satisfactory. 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 can be considered normal for business
dealing 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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services sector
activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating : BB+ |
|
Rating Explanation |
Moderate risk of default and High Credit Risk. |
|
Date |
15.03.2013 |
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 PARTED BY
|
Name : |
Mr. Ayati Chanda |
|
Designation : |
Director |
|
Contact No.: |
91-33-24014234 |
|
Date : |
12.12.2013 |
LOCATIONS
|
Registered Office : |
123, SDF Building, Block GP, Sector V, Salt Lake City, Kolkata –
700091, West Bengal, India |
|
Tel. No.: |
91-33-23577352/ 7745/ 7854/ 6043/ 24014234/ 4235 |
|
Mobile No.: |
91-9831188818 (Mr. Vikas) |
|
Fax No.: |
91-33-23377757/ 24013246 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
46000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot L-1, Block
GP, Sector V, Kolkata – 700091, West |
|
|
|
|
Factory 2/
Branch Office : |
1, Taratala Road, Kolkata – 700088, West Bengal, India |
|
Tel No.: |
91-33-24014234/ 4235 |
|
Fax No.: |
91-33-24013246 |
|
E mail: |
|
|
Area : |
18000 Sq. ft |
|
Located |
Owned |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Ms. Shesadri
Bhushan Chanda |
|
Designation : |
Chairman Cum
Managing Director |
|
Address : |
Udita 030402,
1050/ 1, |
|
Date of Birth/Age : |
21.08.1956 |
|
Date of Appointment : |
22.06.1989 |
|
Voter ID No.: |
WB/23/150/527230 |
|
DIN No.: |
00961593 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U32109WB1989PTC047097 |
Megatherm
Electronics Private Limited |
Managing
director |
22-06-89 |
22-06-89 |
Active |
NO |
|
U29299WB1988SGC044800 |
Emt
Megatherm Private Limited |
Managing
director |
24-10-05 |
24-10-05 |
Active |
NO |
|
U51101UP2009PTC038375 |
Ema Megatherm
Induction Equipments Private Limited |
Managing
director |
20-10-09 |
06-10-09 |
Active |
NO |
|
U31900WB2010PTC154236 |
Megatherm
Transmission and Distribution Private Limited |
Director |
22-10-10 |
22-10-10 |
Active |
NO |
|
Name : |
Mrs. Ayati Chanda |
|
Designation : |
Director |
|
Address : |
Udita 03-04-02,
1050/1, Survey Park, Kolkata – 700075, West Bengal, India |
|
Date of Birth/Age : |
06.03.1963 |
|
Date of Appointment : |
01.11.2005 |
|
Voter ID No.: |
WB/23/150/537231 |
|
DIN No.: |
00962425 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U29299WB1988SGC044800 |
EMT
Megatherm Private Limited |
Director |
24-10-05 |
24-10-05 |
Active |
NO |
|
U32109WB1989PTC047097 |
Megatherm
Electronics Private Limited |
Director |
01-11-05 |
01-11-05 |
Active |
NO |
|
U31900WB2010PTC154236 |
Megatherm
Transmission and Distribution Private Limited |
Director |
22-10-10 |
22-10-10 |
Active |
NO |
|
Name : |
Mr. Satadri
Chanda |
|
Designation : |
Director |
|
Address : |
Udita 03-04-02,
1050/1, Survey Park, Kolkata – 700075, West Bengal, India |
|
Date of Birth/Age : |
01.09.1989 |
|
Date of Appointment : |
24.09.2008 |
|
DIN No.: |
02302312 |
Other Directorship:
|
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
U32109WB1989PTC047097 |
Megatherm
Electronics Private Limited |
Director |
30-09-08 |
24-09-08 |
Active |
NO |
|
U31900WB2010PTC154236 |
Megatherm
Transmission and Distribution Private Limited |
Director |
22-10-10 |
22-10-10 |
Active |
NO |
|
Name : |
Mr. Aaditeya
Datta |
|
Designation : |
Director |
|
Address : |
114, |
|
Date of Birth/Age : |
20.02.1973 |
|
Date of Appointment : |
24.09.2008 |
|
PAN No.: |
AGFPD8405K |
|
DIN No.: |
02322749 |
Other Directorship:
|
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
U32109WB1989PTC047097 |
Megatherm
Electronics Private Limited |
Director |
30/09/2008 |
24/09/2008 |
Active |
NO |
|
Name : |
Mr. Tapan Kumar Bagchi |
|
Designation : |
Additional director |
|
Address : |
185/7, Santoshpur Avenue, Kolkata -
700075, West Bengal, India |
|
Date of Birth/Age : |
27.09.1951 |
|
Date of Appointment : |
01.06.2011 |
|
PAN No.: |
ACXPB8848E |
|
DIN No.: |
03550099 |
Other Directorship:
|
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
U32109WB1989PTC047097 |
Megatherm Electronics
Private Limited |
Director |
30/09/2011 |
01/06/2011 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Shesadri Bhushan
Chanda |
215900 |
|
Ayati Chanda |
4250 |
|
TOTAL
|
220150 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of all types of Furnance like
Medium Furnances, Induction Melting Furnances and Melting Furnances. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Countries : |
·
USA ·
Europe ·
UK ·
Saudi Arabia ·
Singapore ·
China ·
Bangladesh |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
·
Raw Material |
||||
|
Countries : |
·
US ·
Germany ·
Russia ·
Island ·
China ·
Taiwan ·
Japan |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash, Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· United Bank of India Old Court House Street, 11 Hemant Basu Sarani, Kolkata – 700001, West Bengal, India ·
State
Bank of India Commercial
Branch, 24, Park Street, Kolkata - 700016, West Bengal, India ·
Axis
Bank Limited Credit Management
Centre (CMC), 1, Shakespeare Sarani, AC Market, 3rd Floor, Kolkata
– 700071, West Bengal, India · HDFC Bank HDFC Bank House, Salt Lake Branch, Kolkata, West Bengal, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Nature of Security Term Loan from United
Bank of India is secured by equitable mortgage of land measuring 0.84 acre at
Salt Lake, Sector V and G+l 1 building to be constructed thereon at an estimated
cost of Rs. 249.900 Millions. Vehicle loan from ICICI Bank is secured by
hypothecation Terms of
Repayment Repayable
in 26 installments, out of which first 6 installments @ Rs. 2.500 Millions
and rest 20 installments @ Rs. 6.750 Millions starting from 2nd quarter ending
30th September, 2012 along with interest of 13.85% p.a. Bank Borrowings for working capital are secured by first charge on entire current assets, both present and future ; equitable mortgage of industrial plot measuring about 1354 sq. ft. at SDF Building, Electronics Complex, Salt Lake City obtained under 90 years lease from WB Electronics Industrial Development Corporation Ltd. valued at Rs. 4.300 Millions and pledge of cash collateral of Rs. 14.000 Millions ; L1C Policies of surrender value of Rs. 7.000 Millions and personal guarantee of the Managing Director |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjay
Khanndelwal and Co Chartered
Accountant |
|
Address : |
118, Sarat Bose
Road, Kolkata – 700089, West Bengal, India
|
|
PAN No.: |
AACFB3225G |
|
|
|
|
Subsidiaries : |
· EMT Mehatherm Private Limited, CIN No.:U29299WB1988SGC044800 · Megatherm Transmission and Distribution Private Limited, CIN No.:U31900WB2010PTC154236 |
CAPITAL STRUCTURE
AS ON 31.03.2012
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Capital |
Rs.100/- each |
Rs.100.000
Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
220150 |
Equity Capital |
Rs.100/- each |
Rs.22.015
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 |
|
22.015 |
19.920 |
|
(b) Reserves & Surplus |
|
142.266 |
133.462 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
2.095 |
|
Total
Shareholders’ Funds (1) + (2) |
|
164.281 |
155.477 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
22.500 |
0.305 |
|
(b) Deferred tax liabilities (Net) |
|
1.773 |
2.021 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
(0.441) |
0.050 |
|
Total Non-current Liabilities (3) |
|
23.832 |
2.376 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
97.118 |
0.221 |
|
(b) Trade payables |
|
29.207 |
145.482 |
|
(c) Other current
liabilities |
|
67.254 |
25.930 |
|
(d) Short-term provisions |
|
(2.179) |
2.710 |
|
Total Current Liabilities (4) |
|
191.400 |
174.343 |
|
|
|
|
|
|
TOTAL |
|
379.513 |
332.196 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
25.849 |
16.086 |
|
(ii) Intangible Assets |
|
3.679 |
2.082 |
|
(iii) Capital
work-in-progress |
|
46.436 |
1.459 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
88.523 |
96.958 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.638 |
1.725 |
|
(e) Other Non-current assets |
|
2.183 |
3.274 |
|
Total Non-Current Assets |
|
168.308 |
121.584 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
21.487 |
46.571 |
|
(c) Trade receivables |
|
91.559 |
102.626 |
|
(d) Cash and cash
equivalents |
|
38.402 |
23.381 |
|
(e) Short-term loans and
advances |
|
56.735 |
34.227 |
|
(f) Other current assets |
|
3.022 |
3.807 |
|
Total Current Assets |
|
211.205 |
210.612 |
|
|
|
|
|
|
TOTAL |
|
379.513 |
332.196 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
19.920 |
|
|
2] Share Application Money |
|
|
2.095 |
|
|
3] Reserves & Surplus |
|
|
127.350 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
149.365 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1.805 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
1.805 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.212 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
152.382 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
37.937 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.621 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
9.181
|
|
|
Sundry Debtors |
|
|
86.626
|
|
|
Cash & Bank Balances |
|
|
31.560
|
|
|
Other Current Assets |
|
|
6.203
|
|
|
Loans & Advances |
|
|
107.223
|
|
Total
Current Assets |
|
|
240.793
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
38.613
|
|
|
Other Current Liabilities |
|
|
83.354
|
|
|
Provisions |
|
|
10.002
|
|
Total
Current Liabilities |
|
|
131.969
|
|
|
Net Current Assets |
|
|
108.824
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
152.382 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
996.100 |
|
|
|
Other Income |
|
|
0.081 |
|
|
|
TOTAL |
488.443 |
629.602 |
996.181 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
477.146 |
615.343 |
955.627 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.297 |
14.259 |
40.554 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
4.140 |
6.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.297 |
10.119 |
33.754 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.171 |
4.007 |
11.316 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.126 |
6.112 |
22.438 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
479.703 |
510.724 |
339.668 |
|
|
TOTAL EARNINGS |
479.703 |
510.724 |
339.668 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
32.722 |
4.062 |
|
|
TOTAL IMPORTS |
NA |
32.722 |
4.062 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
36.91 |
306.83 |
0.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.66
|
0.97
|
2.25
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
3.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.61
|
4.33
|
12.11
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.07
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.73
|
0.00
|
0.01
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.21
|
1.84
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
Yes |
|
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
No |
BUSINESS
PERFORMANCE
During
the financial year, the subject has experienced many adversories in terms of
Global Recession, Working Capital blockage in material intensive projects and Big
Export orders. Combination of these factors have resulted in reduction of net
revenue by Rs. 127.673 Millions compared to last financial year. Whereas high
margin orders reduced the Material costs and improved the Profit by Rs. 13.748
Millions
However,
the Subject continues to maintain its presence in the Export Market and
increases its export revenue percentage from 82 % to 98 %.
BUSINESS
PROSPECTS
In
the current financial year, Subject has obtained good export orders from
Bangladesh, Riyadh, UIganda, South Africa, Iraq, Ghana, Jeddah, Argentina, Peru
and Equador. Management is determined and confident to turn around in term of
revenue in this fiscal year and expected to progress satisfactorily.
MANAGEMENT
DISCUSSION AND ANALYSIS (MD AND A)
This
report includes MD and A as appropriate so that duplication and overlap between
Directors' Report and a separate MD and A is avoided and the entire information
is provided in a composite and comprehensive manner.
OUTLOOK
The
Subject has registered presence in various Gulf countries along with Argentina,
Peru and Brazil to look forward for healthy business growth. It has earned a
high reputation for itself and therefore multiple opportunities keep coming for
its consideration. The company has undertaken new ventures like production of
Transformers in its new plant at Kharagpur and off-loading of MS/SS Assembly
section to Ankurhati plant at Howrah.
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10467494 |
12/12/2013 |
120,000,000.00 |
ICICI BANK LIMITED |
3A, GURUSADAY ROAD, 2ND FLOOR, KOLKATA, West Beng |
B92492461 |
|
2 |
10342437 |
22/02/2012 |
150,000,000.00 |
United Bank of India |
Old Court House Street, 11, Hemant Basu Sarani, K |
B35119973 |
FIXED ASSETS
· Land – Leasehold
· Building
· Plant and Machinery
· Electrical Installation
· Furniture and Fixture
· Office Equipment
· Computers
· Vehicles
· Tools and 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 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. 62.00 |
|
|
1 |
Rs. 102.17 |
|
Euro |
1 |
Rs. 85.18 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.