MIRA
INFORM REPORT
|
Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
OASIS STEEL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3, Industrial Ares Phase-1 Chandigarh-160002 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.10.1990 |
|
|
|
|
Com. Reg. No.: |
53-010763 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106CH1990PTC010763 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLO10319B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB3690D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Iron ore and Steel Product |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 94000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established trading company having a satisfactory track
record. The company has seen a drastic dip in its sales turnover as well as
net profitability during 2012. Management carries out its operational
activities using their owned funds. Profit margin appears to be good. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered normal for business dealings at trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Sanjeev Chopea |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-172-3911702 |
|
Date : |
13.07.2013 |
LOCATIONS
|
Registered Office : |
3, Industrial Ares Phase-1 Chandigarh-160002, India |
|
Tel. No.: |
91-172-3911702 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 20.09.2012
|
Name : |
Mr. Deepak Raj Ahuja |
|
Designation : |
Director |
|
Address : |
526, Sector 10, Panchkula |
|
Date of Birth/Age : |
03.05.1952 |
|
Date of Appointment : |
12.05.2001 |
|
DIN No. : |
00125360 |
|
|
|
|
Name : |
Mr. Sudarshan Kumar Batra |
|
Designation : |
Director |
|
Address : |
106, Young Dwellers Group Housing Society 49-A, Chandigarh |
|
Date of Birth/Age : |
23.04.1944 |
|
Date of Appointment : |
12.05.2001 |
|
DIN No. : |
00016781 |
|
|
|
|
Name : |
Mr. Bhupinder Pal Singh |
|
Designation : |
Director |
|
Address : |
415, Srctor 71, S.A.S Nagar, Mohali |
|
Date of Birth/Age : |
10.03.1955 |
|
Date of Appointment : |
12.05.2001 |
|
DIN No. : |
00010996 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 20.09.2012
|
Names of Shareholders |
No. of Shares |
|
Singal Sanjay |
11250 |
|
Singal Aartiu |
13900 |
|
Singal Priyanka |
250 |
|
Singal Radhika |
250 |
|
BIC Investments (Private) Limited, India |
27600 |
|
Essenn Investments (Private) Limited, India |
27600 |
|
ASL Investments Limited, India |
27600 |
|
Adhunik Investments (Private) Limited, India |
27600 |
|
Gainda Mal Chiranji Lal Limited, India
|
26950 |
|
Kishori Constructions limited, India
|
27110 |
|
Singal Aniket |
8700 |
|
Marble Finvest Limited, India |
151190 |
|
|
|
|
Total |
350000 |
As on: 20.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
90.19 |
|
Other top fifty shareholders |
9.81 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Iron ore and Steel Product |
|
|
|
|
Terms : |
|
|
Selling : |
L\C and Credit |
|
|
|
|
Purchasing : |
L\C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
Punjab National Bank, Sector 28 C, Chandigarh – 160102, India Tel No. 91-172-2640022 |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mehra Goel and Company Chartered Accountant |
|
Address : |
505, Chiranjiv Tower, 43, Nehru Place, New Delhi – 110019, India |
|
PAN No. : |
AABFM1488M |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs.10/- each |
Rs.3.500 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 |
|
3.500 |
3.500 |
|
(b) Reserves & Surplus |
|
20.031 |
17.423 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
23.531 |
20.923 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
3.458 |
0.055 |
|
(c) Other current liabilities |
|
5.773 |
5.082 |
|
(d) Short-term provisions |
|
2.532 |
2.730 |
|
Total Current Liabilities (4) |
|
11.763 |
7.867 |
|
|
|
|
|
|
TOTAL |
|
35.294 |
28.790 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.000 |
0.000 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
31.691 |
6.285 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.043 |
0.044 |
|
(e) Other Non-current assets |
|
0.370 |
0.348 |
|
Total Non-Current Assets |
|
32.104 |
6.677 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
3.642 |
|
(d) Cash and cash
equivalents |
|
2.482 |
5.509 |
|
(e) Short-term loans and
advances |
|
0.708 |
12.962 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
3.190 |
22.113 |
|
|
|
|
|
|
TOTAL |
|
35.294 |
28.790 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
13.128 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
16.628 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16.628 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
6.285 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
171.830 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
6.944 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
7.084 |
|
Total
Current Assets |
|
|
185.858 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
|
175.515 |
|
|
Net Current Assets |
|
|
10.343 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
16.628 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
49.306 |
304.616 |
|
|
|
|
Other Income |
0.192 |
1.059 |
|
|
|
|
TOTAL |
49.498 |
305.675 |
1017.247 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Trader Goods |
0.000 |
90.235 |
|
|
|
|
(Increases)/Decreases in Inventories of Finished Goods |
0.000 |
171.830 |
|
|
|
|
Employee Benefit |
45.188 |
37.173 |
|
|
|
|
Other Expenses |
0.413 |
0.417 |
|
|
|
|
TOTAL |
45.601 |
299.655 |
1014.369 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.897 |
6.020 |
2.878 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.290 |
1.725 |
1.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.607 |
4.295 |
1.860 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.422 |
5.127 |
3.267 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
12.029 |
9.422 |
5.127 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.45 |
12.27 |
5.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.27
|
1.40 |
0.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.90
|
1.97 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
122.16
|
27.22 |
1.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.29 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.27
|
2.81 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of
person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
---------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
Yes |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
No |
|
25] |
Conduct of
the banking account |
---------------------- |
|
26] |
Buyer visit
details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
PERFORMANCE REVIEW:
The company has earned am income of 49.498
millions from trading activities and profit after tax was Rs. 2.608 Millions
during the period.
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.59.71 |
|
|
1 |
Rs.90.59 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.