MIRA
INFORM REPORT
|
Report Date : |
02.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
RASHMI METALIKS LIMITED |
|
|
|
|
Formerly Known
As : |
RASHMI METALIKS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
39 Shakespeare Sarani, 6th Floor, Kolkata 700017, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
30.01.2004 |
|
|
|
|
Com. Reg. No.: |
21-097737 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 308.834 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB2004PLC097737 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALR06417F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR7183E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
The Company is engaged in manufacturing of Iron and Steel. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (39) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 270000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Rashmi Group. It is a well established company
having a moderate track record. The latest financial are not made available with
the government department. As per previous year’s record, the company performance seems good.
Liquidity position of the company is strong. Fundamental are healthy. Trade
relations are reported to be fair. Business is active. Payments are reported
to be unknown. The company can be considered for business dealings with slight
caution. |
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 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
BB+ (LONG TERM RATING) |
|
Rating Explanation |
Due to lack of information. |
|
Date |
20.07.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
39 Shakespeare Sarani, 6th Floor, Kolkata 700017, West Bengal, India |
|
Tel. No.: |
91-33-22894255/56 |
|
Fax No.: |
91-33-22894254 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Works : |
Gokulpur, Po: Shyamraipur, District West Midanapore, West Bengal,
India |
|
Tel. No.: |
91-3222-2234533 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Sanjay Kumar Patwari |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Post Jhargram, District – Paschim Medinipur, Jhargram – 721507, West
Bengal, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
29.08.1979 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.08.2007 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Qualification : |
B.COM |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00206891 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Surendra Jha |
|
Designation : |
Director |
|
Address : |
Ward – 15, P.S., District – Midnapur, Jhargram – 721507, West Bengal,
India |
|
Date of Birth/Age : |
05.07.1953 |
|
Date of Appointment : |
02.01.2010 |
|
Qualification : |
B.COM |
|
DIN No.: |
02911139 |
|
|
|
|
Name : |
Mr. Salil Roy |
|
Designation : |
Director |
|
Address : |
Mauja – Bachhurdoba (Part) J.L. No. 394, 11 part, Jhargram – 721507,
West Bengal, India |
|
Date of Birth/Age : |
10.11.1964 |
|
Date of Appointment : |
05.01.2012 |
|
DIN No.: |
03302526 |
MAJOR SHAREHOLDERS
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sajjan Kumar Patwari |
|
5000 |
|
Sanjay Kumar Patwari |
|
5000 |
|
Image Vinimay Limited |
|
4890000 |
|
Bohra G and N N Brothers Private Limited |
|
500000 |
|
Consortium Enterprises Private Limited |
|
5343000 |
|
Guru Ganesh Finance (India ) Limited |
|
5125000 |
|
Kalinga Metalics Private Limited |
|
1384000 |
|
Krish Vanijya Private Limited |
|
144400 |
|
Orissa Khanij Private Limited |
|
1746000 |
|
Orissa Metaliks Private Limited |
|
2216800 |
|
Rashmi Energy Limited |
|
454400 |
|
Rashmi Infrastructure Private Limited |
|
280000 |
|
Rashmi Iron Industries Private Limited |
|
270000 |
|
Rosemary Sponge and Ispat Private Limited |
|
1932100 |
|
Roxy Securities Private Limited |
|
1488800 |
|
Sursadhana Sponge and Ispat Private Limited |
|
1968400 |
|
Suvarna Banijya Private Limited |
|
147300 |
|
Ramsetu Tradewings Private Limited |
|
122000 |
|
Quantum Commercial Private Limited |
|
140100 |
|
Juliet Commercial Private Limited |
|
144600 |
|
Afsons (India) Private Limited |
|
578000 |
|
Advent Commotrade Private Limited |
|
14000 |
|
Atlanta Commotrade Private Limited |
|
83800 |
|
Cimmco Vinimay Private Limited |
|
535400 |
|
Compact Advertising and Credit Private Limited |
|
32400 |
|
Dayalu Mercantile Private Limited |
|
36000 |
|
Harsh Commotrade Private Limited |
|
32200 |
|
Kaypee Mercantile Private Limited |
|
157000 |
|
Mahalaxmi Marketing Private Limited |
|
3808420 |
|
Marina Suppliers Private Limited |
|
80000 |
|
Safal Agencies Private Limited |
|
112240 |
|
Yogesh Tie-up Private Limited |
|
295700 |
|
Mundat Securities Private Limited |
|
1289023 |
|
Total |
|
35361083 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
99.98 |
|
Directors or relatives of Directors |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in manufacturing of Iron and Steel. |
|
|
|
|
Products : |
·
Cement ·
Sponge Iron ·
Pig Iron ·
Iron Ore Mining and Exports ·
Railway Logistics |
|
|
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Installed
Capacity |
|
Pig Iron |
176840.00 |
|
Sinter |
288000.00 |
|
Ms Ingot & Ms Billet |
150000.00 |
|
TMT |
120000.00 |
|
|
|
|
Particulars |
Actual
Production |
|
Pig iron |
83098.33 |
|
Sinter |
85006.83 |
|
TMT |
4595.71 |
|
MS Runner Scrap |
3288.13 |
|
Granulated Slag |
27754.66 |
|
MS Billet |
74205.87 |
|
MS Ingot |
00.00 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
ICICI Bank Limited Landmarkrace Cource Circle,
Alkapuri, Baroda - 390015, Gujarat, India ·
The Hongkong and Shanghai Banking Corporation
Limited, Hongkong House, 31 B B D Bag,
Kolkata - 700001, West Bengal, India ·
DBS Bank Limited,
221, Fort House, 3RD Floor, D.N. Road, Fort, Mumbai - 400001,
Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
----- |
|
|
|
|
Auditors : |
|
|
Name : |
Shyamsukha
Amit and Associates Chartered Accountants |
|
Address : |
19, Ganesh Chandra Avenue, Premier House, 2nd Floor, Suite No.-7, Kolkata-700013, West Bengal, India |
|
PAN No.: |
AKOPS3849P |
|
|
|
|
Enterprises over which Key Management Personnel and / or their relatives have significant influence |
·
Rashmi Cement Limited ·
Bohra G and NN Brothers Private Limited ·
Rashmi Iron Industries Private Limited ·
Sursadhana Sponge and Ispat Private Limited ·
Orissa Metaliks Private Limited. ·
Kalinga Metalics Limited. ·
Rosemary Sponge and Ispat Private Limited ·
Orissa Khanij Private Limited ·
Image Vinimay Limited ·
Rashmi Infrastructure Private Limited ·
Rashmi Energy Limited ·
Rashmi Float Glass Limited ·
Guru Ganesh Finance (India) Limited ·
Consortium Enterprises Private Limited ·
KrishVanijya Private Limited ·
Patwari and Sons |
|
|
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30883400 |
Equity Shares |
Rs.10/- each |
Rs. 308.834 Millions |
|
|
|
|
|
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35361083 |
Equity Shares |
Rs.10/- each |
Rs. 353.610 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
308.834 |
280.365 |
255.912 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6517.787 |
4513.058 |
2866.944 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6826.621 |
4793.423 |
3122.856 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2737.549 |
1997.968 |
2018.588 |
|
|
2] Unsecured Loans |
0.000 |
13.391 |
27.513 |
|
|
TOTAL BORROWING |
2737.549 |
2011.359 |
2046.100 |
|
|
DEFERRED TAX LIABILITIES |
256.800 |
210.142 |
119.862 |
|
|
|
|
|
|
|
|
TOTAL |
9820.970 |
7014.924 |
5288.819 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3318.320 |
2696.620 |
1221.267 |
|
|
Capital work-in-progress |
2749.817 |
983.310 |
1521.711 |
|
|
|
|
|
|
|
|
INVESTMENT |
25.536 |
25.536 |
25.536 |
|
|
DEFERRED TAX ASSETS.. |
1.613 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2129.099
|
1692.634 |
2344.925 |
|
|
Sundry Debtors |
544.915
|
1068.241 |
196.526 |
|
|
Cash & Bank Balances |
170.650
|
142.527 |
199.788 |
|
|
Other Current Assets |
148.582
|
3.012 |
0.040 |
|
|
Loans & Advances |
2203.266
|
1253.595 |
630.130 |
|
Total
Current Assets |
5196.512
|
4160.009 |
3371.409 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1344.444
|
602.689 |
|
|
|
Other Current Liabilities |
118.827
|
213.597 |
|
|
|
Provisions |
7.557
|
34.265 |
7.866 |
|
Total
Current Liabilities |
1470.828
|
850.551 |
851.104 |
|
|
Net Current Assets |
3725.684
|
3309.458 |
2520.305 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9820.970 |
7014.924 |
5288.819 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
14614.989 |
11726.342 |
6367.742 |
|
|
|
Other Income |
175.494 |
68.366 |
123.205 |
|
|
|
TOTAL (A) |
14790.483 |
11794.708
|
6490.947 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
10851.993 |
8219.183 |
4050.744 |
|
|
|
Manufacturing service costs |
1440.371 |
1613.264 |
1814.447 |
|
|
|
Employee related expenses |
84.134 |
31.630 |
0.000 |
|
|
|
Administrative selling other expenses |
1053.987 |
955.641 |
20.830 |
|
|
|
Contract Cost |
207.147 |
24.652 |
14.762 |
|
|
|
Prior Period Expenses |
(7.217) |
(34.422) |
0.000 |
|
|
|
TOTAL (B) |
13630.415 |
10809.948 |
5900.783 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1160.068 |
984.760 |
590.164 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
195.737 |
229.747 |
250.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
964.331 |
755.013 |
339.273 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
205.340 |
168.623 |
53.963 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
758.991 |
586.390 |
285.310 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
149.263 |
138.473 |
54.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
609.728 |
447.917 |
231.160 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
962.723 |
514.806 |
283.646 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1572.451 |
962.723 |
514.806 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
8428.824 |
6472.702 |
2583.405 |
|
|
|
Other Earnings |
0.000 |
14.038 |
0.000 |
|
|
TOTAL EARNINGS |
8428.824 |
6486.74 |
2583.405 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
374.149 |
234.780 |
|
|
|
Stores & Spares |
NA |
0.000 |
0.000 |
|
|
|
Capital Goods |
NA |
105.143 |
4.243 |
|
|
|
Others |
NA |
441.866 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
921.158 |
239.023 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.74 |
17.50 |
11.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.12
|
3.80 |
3.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.19
|
5.00 |
4.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.91
|
8.55 |
6.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.12 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.62
|
0.60 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.53
|
4.90 |
3.96 |
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 |
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27109WB2004PLC097737 |
|
Name of the
company |
RASHMI METALIKS LIMITED |
|
Address of the
registered office or of the principal place of business in |
39 Shakespeare Sarani, 6th Floor, Kolkata - 700017 West Bengal, India |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) · Others |
|
Particular of
charge holder |
DBS Bank Limited, 221, Fort House, 3RD Floor, D.N. Road, Fort, Mumbai - 400001, Maharashtra, India |
|
Nature of
instrument creating charge |
By this Deed of Hypothecation for Stocks and Receivable and Plant and Machinery dated 05Sep11, the Company has hypothecated the entire stocks and Book Debts both present and future by way of 1st pari passu charge and the whole of the moveable properties including moveable plant and machinery, machinery spares, tools and other moveable, both present and future by way of 2nd pari passu charge to secure the various Working Capital facilities sanctioned by the Bank. |
|
Date of
instrument Creating the charge |
05/09/2011 |
|
Amount secured by
the charge |
Rs. 200.000 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per Bank's agreed rate. Terms of Repayment Repayable on Demand. Margin As per Deed of Hypothecation for Stocks and Receivable and Plant and Machinery dated 05Sep11. Extent and
Operation of the charge The entire stocks of raw materials, semi finished and finished goods and book debts both present and future as and by way of 1st pari passu charge and the entire movable plant and machinery, tools and accessories and other movable fixed assets both present and future by way of 2nd pari passu charge to secure the due payment of all moneys due or to become due by the Company under the various Working Capital facilities granted by the Bank to the extent of Rs.200.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
As per Deed of Hypothecation for Stocks and Receivable and Plant and Machinery dated 05Sep11 (attached). |
Note: The Registered office of the company has been
shifted from 1 Garstin place, room no. 3B 3rd floor, Kolkata –
700001, West Bengal, India to the Present address w .e .f .24.08.2006
Contingent liabilities not provided for in
respect of:
(Rs.
In Millions)
|
Particulars |
As at 31.03. 2011 |
As at 31.03.2010 |
|
Entry Tax Matter
Under Dispute |
3.197 |
3.197 |
|
Un-expired Bank
Guarantees, Bills discounted and Letters of Credit |
1436.364 |
1346.996 |
|
Custom duty for import
of Capital Goods under EPCG Scheme |
263.156 |
145.404 |
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.54.83 |
|
|
1 |
Rs.89.22 |
|
Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
39 |
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.