|
Country |
India |
||
|
Company Name |
NICOMET INDUSTRIES LIMITED |
Principal Name 1 |
Mr. Rajendra Prasad Daudayal Agarwal |
|
Status |
Moderate |
Principal Name 2 |
Mr. Ankit Rajendra Prasad Agarwal |
|
Registration # |
11-071450 |
||
|
Street Address |
14, Niraj
Industrial Estate, Off Mahakali Caves Road, Andheri (East), Mumbai -400093,
Maharashtra, India |
||
|
Established Date |
02.04.1993 |
SIC Code |
-- |
|
Telephone# |
91-22-28203347 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-28351982 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Cobalt Nickel Sulphate |
|
|
# of employees |
Not Available |
Product Name 2 |
Cobalt Nitrate |
|
Paid up capital |
Rs.110,000,000/- |
Product Name 3 |
Cobalt Metal |
|
Shareholders |
Directors or relatives of Directors -
100.00% |
Banking |
Union Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
20 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
India |
Ankit Associates Private Limited |
-- |
|
Note |
- |
||
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
548,183,000 |
Current Liabilities |
1,411,114,000 |
|
Inventories |
1,482,239,000 |
Long-term Liabilities |
614,105,000 |
|
Fixed Assets |
606,427,000 |
Other Liabilities |
111,535,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,136,754,000 |
|
Invest& other Assets |
6,231,000 |
Retained Earnings |
396,326,000 |
|
|
|
Net Worth |
506,326,000 |
|
Total Assets |
2,643,080,000 |
Total Liab. & Equity |
2,643,080,000 |
|
Total Assets (Previous Year) |
1,862,850,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
2,431,947,000 |
Net Profit |
6,085,000 |
|
Sales(Previous yr) |
1,511,316,000 |
Net Profit(Prev.yr) |
26,892,000 |
|
Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NICOMET INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
14, Niraj Industrial Estate, Off Mahakali Caves Road, Andheri (East),
Mumbai -400093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.04.1993 |
|
|
|
|
Com. Reg. No.: |
11-071450 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.110.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1993PLC071450 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM09552E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1597Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cobalt, Copper Nickel and their Derivatives. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There
appears continuous dip in the profitability of the company. The company also
recorded huge external borrowings which seem to be increasing over years.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow. The company can be considered for business dealings with great
cautions. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
D (Long Term Rating) |
|
Rating Explanation |
Default or expected to be in default |
|
Date |
23.10.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
D (Short term Rating) |
|
Rating Explanation |
Default or expected to be in default |
|
Date |
23.10.2012 |
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/ Head Office : |
14, Niraj Industrial Estate, Off Mahakali Caves Road, Andheri (East),
Mumbai -400093, Maharashtra, India |
|
Tel. No.: |
91-22-28203347/28203418
/ 26938710-14 |
|
Mobile No.: |
91-9820327024 (Mr,
Nitul Shah) |
|
Fax No.: |
91-22-28351982 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2600 Sq. ft |
|
Location : |
Leased |
|
|
|
|
Factory : |
Plot No. L-15/19/20, Cuncolim Industrial Estate, Cuncolim
– 403703, Goa, India |
|
Tel. No.: |
91-832-2763307/2764337 |
|
Fax No.: |
91-832-2764327 |
|
E-Mail : |
DIRECTORS
AS ON 20.09.2012
|
Name : |
Mr. Rajendra Prasad Daudayal Agarwal |
|
Designation : |
Managing Director |
|
Address : |
21, Krishna Kunj, 94, Marine Drive, G. Road, Mumbai –
400020, Maharashtra, India |
|
Date of Birth/Age : |
21.05.1951 |
|
Date of Appointment : |
02.04.1993 |
|
PAN No.: |
AAGPA9763L |
|
DIN No.: |
00605850 |
|
|
|
|
Name : |
Mr. Ankit Rajendra Prasad Agarwal |
|
Designation : |
Director |
|
Address : |
21, Krishna Kunj, 94, Marine Drive, G. Road, Mumbai –
400020, Maharashtra, India |
|
Date of Birth/Age : |
27.08.1984 |
|
Date of Appointment : |
12.01.2004 |
|
PAN No.: |
AAGPA9764P |
|
DIN No.: |
00605952 |
|
|
|
|
Name : |
Mr. Nitul Bhupat Shah |
|
Designation : |
Director |
|
Address : |
7101, Kusum Kunj, Junction of 9th and 10th Road,
Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1983 |
|
Date of Appointment : |
21.06.2012 |
|
PAN No.: |
AAEPS6737Q |
|
DIN No.: |
00289512 |
|
|
|
|
Name : |
Mr. Tushar Ambalal Porwal |
|
Designation : |
Director |
|
Address : |
301, Swastik Sadan, 3rd Floor, 8th Road, Khar
(West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
07.01.1975 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
00290353 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2012
|
Names of Shareholders |
No. of Shares |
|
Rajendra Prasad Agarwal |
1000000 |
|
Usha Agarwal |
1000000 |
|
Atul Agarwal |
1000000 |
|
Murlidarji Agarwal |
7500 |
|
Ankit Agrawal |
1000000 |
|
Bhawana Agrawal |
227500 |
|
Daudayal Agrawal HUF |
1235000 |
|
Angoori Devi |
30000 |
|
Ambalal M Porwal |
237660 |
|
Ambalal M Porwal HUF |
313840 |
|
Tushar A Porwal |
464200 |
|
Vipul A Porwal |
464200 |
|
Ruchi V Porwal |
485100 |
|
Ritu V Porwal |
485100 |
|
Nirmala V Porwal |
356695 |
|
Vijay M Porwal |
99205 |
|
Vijay M Porwal HUF |
245300 |
|
Manjula A Porwal |
191400 |
|
Aardhi Porwal |
100 |
|
Nitul B Shah |
941600 |
|
Vilas B Shah |
868490 |
|
Bhupat K Shah HUF |
327110 |
|
Amar Ferro Metals Private Limited |
20000 |
|
TOTAL
|
11000000 |
AS ON 20.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cobalt, Copper Nickel and their Derivatives. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Cobalts and its salts |
TPA |
1000 |
|
Nickel and its salts |
TPA |
1000 |
|
Copper |
TPA |
3000 |
|
|
|
|
|
Particulars |
Unit |
Actual
Production |
|
Cobalts and its salts |
MT |
478.17 |
|
Nickel and its salts |
MT |
263.63 |
|
Copper |
MT |
647.50 |
Note:
** Production include captive consumption but
exclude production during trial run.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi S. K. and Fellows Chartered Accountants |
|
Address : |
410, Dev Plaza, SV Road, Andheri West, Mumbai-400 058, Maharashtra, India |
|
Fax No.: |
91-22-66943453 |
|
E-Mail : |
|
|
PAN No.: |
AAAFC2426N |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs. 110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs. 110.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
110.000 |
|
(b) Reserves & Surplus |
|
|
396.326 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
102.412 |
|
(b) Deferred tax liabilities (Net) |
|
|
81.250 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
6.781 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
|
511.693 |
|
(b) Trade payables |
|
|
1296.898 |
|
(c) Other current
liabilities |
|
|
114.216 |
|
(d) Short-term
provisions |
|
|
23.504 |
|
TOTAL |
|
|
2643.080 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
606.189 |
|
(ii) Intangible Assets |
|
|
0.238 |
|
(iii) Capital
work-in-progress |
|
|
6.230 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.001 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
26.082 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
1482.239 |
|
(c) Trade receivables |
|
|
308.584 |
|
(d) Cash and cash
equivalents |
|
|
135.120 |
|
(e) Short-term loans
and advances |
|
|
78.397 |
|
(f) Other current
assets |
|
|
0.000 |
|
TOTAL |
|
|
2643.080 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
110.000 |
110.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
390.241 |
363.349 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
500.241 |
473.349 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
535.643 |
310.059 |
|
|
2] Unsecured Loans |
|
47.072 |
72.072 |
|
|
TOTAL BORROWING |
|
582.715 |
382.131 |
|
|
DEFERRED TAX LIABILITIES |
|
81.284 |
75.408 |
|
|
|
|
|
|
|
|
TOTAL |
|
1164.240 |
930.888 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
610.927 |
371.508 |
|
|
Capital work-in-progress |
|
33.754 |
224.566 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
|
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
0.000 |
0.000 |
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
753.962
|
530.303
|
|
|
Sundry Debtors |
|
218.546
|
231.567
|
|
|
Cash & Bank Balances |
|
134.674
|
105.944
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
110.987
|
36.373
|
|
Total
Current Assets |
|
1218.169
|
904.187
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
636.565
|
385.106
|
|
|
Other Current Liabilities |
|
26.714
|
133.703
|
|
|
Provisions |
|
35.331
|
50.564
|
|
Total
Current Liabilities |
|
698.610
|
569.373
|
|
|
Net Current Assets |
|
519.559
|
334.814
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1164.240 |
930.888 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2431.947 |
1511.316 |
1125.242 |
|
|
|
Other Income |
14.962 |
80.198 |
102.820 |
|
|
|
TOTAL (A) |
2446.909 |
1591.514 |
1228.062 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1934.446 |
1035.139 |
803.112 |
|
|
|
Purchases of stock-in-trade |
265.818 |
0.000 |
0.000 |
|
|
|
Manufacturing Service Costs |
0.000 |
221.749 |
139.687 |
|
|
|
Employee benefit expense |
58.054 |
65.650 |
34.136 |
|
|
|
Other expenses |
313.535 |
58.475 |
41.729 |
|
|
|
Exceptional items |
57.902 |
0.000 |
0.000 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(382.838) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
2246.917 |
1381.013 |
1018.664 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
199.992 |
210.501 |
209.398 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
145.833 |
92.422 |
52.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
54.159 |
118.079 |
156.437 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.588 |
40.226 |
33.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
7.571 |
77.853 |
123.115 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.486 |
50.961 |
44.960 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
6.085 |
26.892 |
78.155 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
347.910 |
269.755 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
374.802 |
347.910 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
733.742 |
586.491 |
427.477 |
|
|
TOTAL EARNINGS |
733.742 |
586.491 |
427.477 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2330.908 |
1146.183 |
617.398 |
|
|
|
Capital Goods |
19.249 |
1.862 |
1.338 |
|
|
TOTAL IMPORTS |
2350.157 |
1148.045 |
618.736 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.55 |
2.44 |
7.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.25
|
1.69 |
6.36
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.31
|
5.15
|
10.94
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.29
|
4.26
|
9.65
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.16
|
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.21
|
1.16
|
0.81
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.74
|
1.59
|
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 |
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) |
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2012 |
|
Intercorporate Borrowings |
42.721 |
|
Loans and Advances from Related Parties |
54.572 |
|
Working Capital Loans from Banks |
17.025 |
|
Intercorporate Deposits |
9.439 |
|
|
|
|
TOTAL |
123.757 |
(Rs.
In Millions)
|
UNSECURED LOAN |
As
on 31.03.2011 |
|
|
|
|
Rupee Term Loans Others Unsecured |
35.000 |
|
Loans Directors Unsecured |
8.656 |
|
Other Debt Unsecured |
3.416 |
|
|
|
|
TOTAL |
47.072 |
|
Note:
|
|
CONTINGENT
LIABILITIES
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
a) Letters of credits
and bank guarantees outstanding (net of margin deposits) |
9.939 |
168.900 |
|
b) Bills
discounted and remaining unpaid at the end of the year. |
30.000 |
50.000 |
|
c) Estimated amount
of contracts remaining to be executed on capital account (net of advance
payments). |
22.632 |
4.527 |
FORM 8
|
Corporate
identity number of the company |
U27200MH1993PLC071450 |
|
Name of the
company |
NICOMET INDUSTRIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
14, Niraj Industrial Estate, Off Mahakali Caves Road, Andheri (East),
Mumbai – 400093, Maharashtra, India Email Id : nicomet@bom3.vsnl.net.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Union Bank of India (Lead Bank), Overseas Branch, Ground Floor, Union
Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Nature of
instrument creating charge |
Hypothecation
Agreement of Goods and Debts |
|
Date of
instrument Creating the charge |
07.11.2012 |
|
Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest BR+7.75% per
annum with monthly rests or at such other revised/rates as may be prescribed
by the Bank from time to time Terms of repayment On Demand Margin As per sanction
terms Extent and operation of the charge To secure Import
LC Adhoc facility of Rs.100.000 Millions granted by the Bank to the Company |
|
Short particulars
of the property charged (Including location of the property) |
The Borrower
hereby Hypothecates by way of First Charge in favour of the Bank:
|
FIXED ASSETS
WEBSITE DETAILS
PROFILE
Sensing the potential on the global front, subject was conceived in year 1993 to meet the need for high purity Cobalt and Nickel products.
The founders with over 25 years of experience in trade of metals and industries in their drive for excellence, have today succeeded in establishing Nicomet as a reliable source for speciality products of Nickel and Cobalt Metals . Manufacturing unit at Goa, 600 kms South of Mumbai was set up for Commercial production of cobalt metal and started production since 1997. Nicomet is the first of this kind to produce Cobalt and nickel metals in India.
Start with Cobalt manufacturing, the company now produces Cobalt, Nickel, Copper metals and their salts as well as Sodium Sulphate as bye product.
Latest development in non ferrous extractive metallurgy field are on the account of solvent extraction technology. This technology was fully developed and adopted in Nicomet for extraction of Cobalt, further it was applied to Nickel extraction and thus as on today Nicomet industries produces high quality Nickel and Cobalt metals by Electro winning process.
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. 54.29 |
|
|
1 |
Rs. 82.87 |
|
Euro |
1 |
Rs. 70.80 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.