MIRA INFORM REPORT

 

 

Report Date :

11.02.2013

 

IDENTIFICATION DETAILS

 

Name :

AGARWAL COAL CORPORATION (S) PTE. LTD.

 

 

Registered Office :

101 Cecil Street #23-12 Tong Eng Building Singapore 069533

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

25.05.2005

 

 

Com. Reg. No.:

200507123D

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

General Wholesale Trade (Including General Importers And Exporters)

 

 

No. of Employees :

Not

Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

31.03.2011)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

Source : CIA

 

Company Name:

Registered Number:

AGARWAL COAL CORPORATION (S) PTE. LTD.

200507123D

 

Date Incorporated:

Registered Office:

Telephone Number:

25/05/2005

101 CECIL STREET #23-12 TONG ENG BUILDING SINGAPORE 069533

6224 2589

Age of Company:

Website:

Industry Type:

7

NA

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
7

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NA

Number that are shareholders

3

No. of Subsidiaries & Associated Companies:

NA

EXECUTIVE SUMMARY

 

Company Name

:

AGARWAL COAL CORPORATION (S) PTE. LTD.

Registration No

:

200507123D

Date of Registration

:

25/05/2005

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

101 CECIL STREET #23-12 TONG ENG BUILDING SINGAPORE 069533

Date of Change of Address

:

01/07/2010

Contact No.

:

6224 2589

Fax No.

:

NA

Website

:

NA

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$773,053.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 773,053

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$773,053.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

NA

No. of Local Associates

:

NA

Auditor

:

VKR PRACTICES

Bankers / Financiers

:

AXIS BANK LIMITED SINGAPORE BRANCH

INDIAN OVERSEAS BANK

DBS BANK LTD.

UCO BANK

Turnover

:

SINGAPORE, DOLLARS 249,972,451.86 (FY2012)

Net Worth

:

SINGAPORE, DOLLARS 34,348,456.80 (FY2012)

No. of Bank Charges

:

7

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

863 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1190 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

1366 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

629 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)

Compounded Annual Growth Rate (CAGR)

:

25.46% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

AGARWAL COAL CORPORATION PRIVATE LIMITED

SHAREHOLDER ID

:

T06UF2944D

NATIONALITY

:

INDIA

ADDRESS

:

MATRA KRIPA, 2, CHAMELI PARK, NEAR GOYAL NAGAR, RING ROAD, INDORE-452 001, (M.P.), INDIA

NO. OF ORD SHARES

:

380,344

% OF SHAREHOLDING

:

49.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

AGARWAL FUEL CORPORATION PVT. LTD.

SHAREHOLDER ID

:

T07UF2494B

NATIONALITY

:

NA

ADDRESS

:

AGARWAL HOUSE, 2ND FLOOR, 5, YESHWANT COLONY, INDORE - 452 003, (M.P.), INDIA

NO. OF ORD SHARES

:

207,905

% OF SHAREHOLDING

:

26.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHAMAK TREXIM PVT. LTD.

SHAREHOLDER ID

:

T07UF2495J

NATIONALITY

:

INDIA

ADDRESS

:

64-B, B.K. PAUL AVENUE, KOLKATA - 700 005, WEST BENGAL, INDIA

NO. OF ORD SHARES

:

184,804

% OF SHAREHOLDING

:

23.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

VINOD KUMAR AGARWAL

ADDRESS

:

2 CHAMELI PARK, NR. GOYAL NAGAR, RING ROAD INDORE-452018, M.P., INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

25/05/2005

NATIONALITY

:

INDIAN

I/C PASSPORT

:

B5555145

 

NAME

:

NILESH MHATRE

ADDRESS

:

10 PRINSEP LINK #08-11 SUNSHINE PLAZA SINGAPORE 187948

POSITION

:

DIRECTOR

DATE OF APPT

:

07/02/2012

NATIONALITY

:

INDIAN

I/C PASSPORT

:

G6091315W

 

NAME

:

SRI MURALI S/O SINNOTHEI RENGANATHAN

ADDRESS

:

39 CORONATION ROAD SINGAPORE 269450

POSITION

:

DIRECTOR

DATE OF APPT

:

25/05/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1331899I

 

 

KEY PERSONNEL PROFILE

 

Name:

VINOD KUMAR AGARWAL

NRIC Number:

B5555145

Available Address:

2 CHAMELI PARK, NR. GOYAL NAGAR, RING ROAD INDORE-452018, M.P., INDIA

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

AGARWAL COAL CORPORATION (S) PTE. LTD.

DIRECTOR

25/05/2005

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AGARWAL COAL CORPORATION (S) PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

06/09/2012

 

 

Bankruptcy Record

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 7 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201111612

 

Date of Registration

:

15/09/2011

 

Chargee

:

AXIS BANK LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

2)

Charge No.

:

C201111552

 

Date of Registration

:

15/09/2011

 

Chargee

:

AXIS BANK LIMITED SINGAPORE BRANCH

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

3)

Charge No.

:

C201110514

 

Date of Registration

:

23/08/2011

 

Chargee

:

INDIAN OVERSEAS BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

64 CECIL STREET IOB BUILDING SINGAPORE 049711

 

4)

Charge No.

:

C201110511

 

Date of Registration

:

23/08/2011

 

Chargee

:

INDIAN OVERSEAS BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

64 CECIL STREET IOB BUILDING SINGAPORE 049711

 

5)

Charge No.

:

C201012443

 

Date of Registration

:

21/12/2010

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

6)

Charge No.

:

C201012442

 

Date of Registration

:

21/12/2010

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

7)

Charge No.

:

C200710139

 

Date of Registration

:

20/11/2007

 

Chargee

:

UCO BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE #01-01 BHARAT BUILDING SINGAPORE 048617

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

22/06/2012

Date of Last AR

:

26/07/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN OR ACCOUNTS LATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

249,972,452

-11.45

282,307,057

164,751,238

110,054,506

100,892,031

Profit/(Loss) Before Tax

2,544,106

-72.36

9,204,889

7,388,743

10,302,389

17,409,720

Profit After Tax attributable

 to Shareholders

2,257,038

-70.55

7,664,297

6,130,320

8,573,426

14,330,338

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

136,000,441

12.95

120,412,049

74,566,988

43,404,516

44,667,016

Current Assets

131,139,998

12.39

116,680,824

74,564,789

42,235,278

44,667,016

Non Current Assets

4,860,443

30.26

3,731,226

2,199

1,169,238

0

 

 

 

 

 

 

 

Total Liabilities

101,651,984

18.01

86,136,157

46,306,949

19,841,144

29,384,775

Current Liabilities

100,956,969

18.30

85,342,579

46,306,949

19,841,144

29,384,775

Non Current Liabilities

695,016

-12.42

793,578

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

34,348,457

0.21

34,275,892

28,260,039

23,563,372

15,282,241

Share Capital

626,703

-5.80

665,278

713,921

722,563

736,652

Total Reserves

33,721,753

0.33

33,610,615

27,546,118

22,840,809

14,545,589

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

-11.45

71.35

49.70

9.08

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.90

2.71

3.72

7.79

14.20

Return on Equity (%)

6.57

22.36

21.69

36.38

93.77

Return on Assets (%)

1.66

6.37

8.22

19.75

32.08

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.96

2.51

1.64

0.84

1.92

Current Debt/Equity (Times)

2.94

2.49

1.64

0.84

1.92

Long Term Debt To Equity (Times)

0.02

0.02

0.00

0.00

0.00

Total Asset To Total Equity (Times)

3.96

3.51

2.64

1.84

2.92

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.84

2.34

2.21

2.54

2.26

Fixed Assets Turnover (Times)

51.43

75.66

74,923.39

94.12

0.00

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.30

1.37

1.61

2.13

1.52

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 25.46% (4 years).

 

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

 

Profitability

The company yielded a rate of net profit on sales of 0.90 per cent in FY12 (FY11: 2.71 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.01 of profit for every SINGAPORE, DOLLARS of sales in FY12, as compared with SINGAPORE, DOLLARS 0.03 a year ago.

 

Liquidity

 

Current ratio stood at 1.30 times in FY12 (FY11: 1.37 times). This means that the company has SINGAPORE, DOLLARS 1.30 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

FINANCIAL COMMENTARY

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

Leverage

Total debt-to-equity ratio notched 2.96 times in FY12, compared with 2.51 times in FY11. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.96 for every SINGAPORE, DOLLARS injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

 

Efficiency Ratio

 

Return on equity was 6.57 per cent for Subject in the current financial period, as compared to 22.36 per cent a year ago. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 1.66 per cent (FY11: 6.37 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

 

FINANCIAL COMMENTARY

 

Total assets turnover ratio logged at 1.84 times in FY12 (FY11: 2.34 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.57

UK Pound

1

Rs.84.25

Euro

1

Rs.71.78

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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 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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.