MIRA
INFORM REPORT
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHYAM FERRO ALLOYS LIMITED |
|
|
|
|
Registered
Office : |
Vishwakarma, 86C, 2nd Floor, Topsia Road, Kolkata – 700046,
West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.05.1995 |
|
|
|
|
Com. Reg. No.: |
21-071548 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.311.723 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1995PLC071548 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS7376M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Ferro Alloys. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10190000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company having a satisfactory track
record. There appear some dip in the turnover and profits during 2012.
However, the overall financial position is good. Trade relations are decent. Business is active. Payment terms are
regular and as per commitment. The company can be considered for business dealings 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 – 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 |
BBB+ (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
July 31, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 (Short Term Rating) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
July 31, 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 : |
Vishwakarma, 86C, 2nd Floor, Topsia Road, Kolkata – 700046,
West Bengal, India |
|
Tel. No.: |
91-33-22852323/ 27 |
|
Fax No.: |
91-33-22852328 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Raturia Angadpur Industrial Area, Durgapur – 713216, West
Bengal, India |
|
Tel. No.: |
91-343-2591101/ 2590895 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Palitpur Road, Dewandighi, Burdwan - 713102, West Bengal, India |
|
Tel. No.: |
91-342-2622361/ 375 |
|
E-Mail : |
DIRECTORS
As on: 25.09.2012
|
Name : |
Mr. Brij Bhushan Agarwal |
|
Designation : |
Director |
|
Address : |
3B, Ashoka Road, Alipore, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
13.09.1972 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.05.1995 |
|
DIN No.: |
01125056 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
CA-54, Salt Lake City, Kolkata – 700091, West Bengal, India |
|
Date of Birth/Age : |
27.03.1976 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.07.2004 |
|
DIN No.: |
00232938 |
|
|
|
|
Name : |
Mr. Sandeep Goyal |
|
Designation : |
Director |
|
Address : |
Shanti Kunj, DL-18, Salt Lake City, Kolkata – 700091, West Bengal,
India |
|
Date of Birth/Age : |
02.12.1973 |
|
Qualification : |
MBA |
|
Date of Appointment : |
07.06.2003 |
|
PAN No.: |
AAZPG7287Q |
|
DIN No.: |
00276140 |
|
|
|
|
Name : |
Mr. Himanshu Goyal |
|
Designation : |
Director |
|
Address : |
Shanti Kunj, DL-18, Salt Lake City, Kolkata – 700091, West Bengal,
India |
|
Date of Birth/Age : |
24.02.1975 |
|
Qualification : |
MBA |
|
Date of Appointment : |
25.07.2004 |
|
PAN No.: |
AAOPG5565G |
|
DIN No.: |
00276571 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
52.00 |
|
Directors or relatives of directors |
|
48.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ferro Alloys. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products : |
|
PRODUCTION STATUS (As on: 31.03.2012)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Ferro Alloys |
118000 M.T.P.A. |
60995.800 M.T. |
|
SS and MS and Alloys Steel |
100000 M.T.P.A. |
49238.030 M.T. |
|
SS Flat |
100000 M.T.P.A. |
41501.060 M.T. |
|
SS Round |
5365.480 M .T. |
|
|
SS Bright Bar |
1056.600 M.T. |
|
|
MS Flat |
5.670 M.T. |
|
|
MS Round |
41.150 M.T. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
State Bank of Hyderabad (Lead Bank), Park Street Branch, 113, Park Street, Kolkata - 700016, West Bengal, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Poddar and Company Chartered Accountants |
|
Address : |
2 Lal Bazar Street , Kolkata- 700001, West Bengal, India |
|
PAN No.: |
AATFS2603N |
|
|
|
|
Associates : |
· Shyam Sel and Power Limited CIN No.: U27109WB1991PLC052962 · Shyam Metalics and Energy Limited CIN No.: U40101WB2002PLC095491 · BRG Iron and Steel Company Private Limited CIN No.: U27101WB2002PTC095499 · Bhuvee Profiles and Stainless Private Limited CIN No.: U74140WB1993PTC057394 · Kecons Tradecare Private Limited CIN No.: U51909WB1995PTC073411 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs.320.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31172320 |
Equity Shares |
Rs.10/- each |
Rs.311.723 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 |
|
311.723 |
311.723 |
|
(b) Reserves & Surplus |
|
2238.051 |
2188.001 |
|
(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) |
|
2549.774 |
2499.724 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3.259 |
8.529 |
|
(b) Deferred tax liabilities (Net) |
|
145.617 |
147.927 |
|
(c) Other long term liabilities |
|
81.239 |
81.239 |
|
(d) long-term provisions |
|
11.529 |
11.393 |
|
Total Non-current Liabilities (3) |
|
241.644 |
249.088 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
578.098 |
658.008 |
|
(b) Trade payables |
|
1002.400 |
1220.037 |
|
(c) Other current
liabilities |
|
289.826 |
160.141 |
|
(d) Short-term provisions |
|
12.441 |
89.136 |
|
Total Current Liabilities (4) |
|
1882.765 |
2127.322 |
|
|
|
|
|
|
TOTAL |
|
4674.183 |
4876.134 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1006.691 |
1047.750 |
|
(ii) Intangible Assets |
|
0.109 |
0.010 |
|
(iii) Capital
work-in-progress |
|
95.193 |
109.281 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
461.834 |
652.305 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1563.827 |
1809.346 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1482.708 |
1651.680 |
|
(c) Trade receivables |
|
907.907 |
626.890 |
|
(d) Cash and cash
equivalents |
|
407.109 |
203.351 |
|
(e) Short-term loans and
advances |
|
304.217 |
576.452 |
|
(f) Other current
assets |
|
8.415 |
8.415 |
|
Total Current Assets |
|
3110.356 |
3066.788 |
|
|
|
|
|
|
TOTAL |
|
4674.183 |
4876.134 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
311.723 |
|
|
2] Share Application Money |
|
|
23.765 |
|
|
3] Reserves & Surplus |
|
|
1687.397 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2022.885 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
412.990 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
412.990 |
|
|
DEFERRED TAX LIABILITIES |
|
|
142.026 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2577.901 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1011.025 |
|
|
Capital work-in-progress |
|
|
46.659 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1609.029
|
|
|
Sundry Debtors |
|
|
816.190
|
|
|
Cash & Bank Balances |
|
|
249.923
|
|
|
Other Current Assets |
|
|
82.191
|
|
|
Loans & Advances |
|
|
695.342
|
|
Total
Current Assets |
|
|
3452.675
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1512.753
|
|
|
Other Current Liabilities |
|
|
162.792
|
|
|
Provisions |
|
|
256.913
|
|
Total
Current Liabilities |
|
|
1932.458
|
|
|
Net Current Assets |
|
|
1520.217
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2577.901 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4738.115 |
5594.087 |
5344.018 |
|
|
|
Other Income |
94.700 |
24.941 |
263.415 |
|
|
|
TOTAL (A) |
4832.815 |
5619.028 |
5607.433 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2368.734 |
2922.767 |
|
|
|
|
Purchases of stock-in-trade |
15.536 |
32.041 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(271.849) |
(59.288) |
|
|
|
|
Employee benefit expense |
109.232 |
99.350 |
|
|
|
|
Other expenses |
2325.212 |
2288.444 |
|
|
|
|
TOTAL (B) |
4546.865 |
5283.314 |
5158.946 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
285.950 |
335.714 |
448.487 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
96.434 |
90.563 |
80.866 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
189.516 |
245.151 |
367.621 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
119.672 |
103.818 |
92.288 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
69.844 |
141.333 |
275.333 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.794 |
48.674 |
94.492 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
50.050 |
92.659 |
180.841 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
937.276 |
844.617 |
663.776 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
987.326 |
937.276 |
844.617 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1519.835 |
1305.351 |
1253.646 |
|
|
TOTAL EARNINGS |
1519.835 |
1305.351 |
1253.646 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
1.61 |
2.97 |
6.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.04 |
1.65 |
3.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.47 |
2.53 |
5.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.53 |
2.96 |
6.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.06 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23 |
0.27 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65 |
1.44 |
1.79 |
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 |
Yes |
|
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 |
|
LITIGATION
DETAILS |
|
|
Status of |
CONTEMPT OF COURT CA(CC) 48 OF 2011 |
|
MERCON TRADING LLC, DUBAI & ORS. Vs. SHYAM FERRO ALLOYS LIMITED |
|
|
Pet’s Adv. |
R.GINODIA & CO |
|
Court No. |
18 |
|
Last Listed On: |
Friday, June 24, 2011 |
|
Category |
CIVIL CONTEMPT |
Note:
The Registered Office of the company has been shifted from 23A N S Road,
10th Floor, Kolkata – 700001, West Bengal, India to the present
address w.e.f. 01.04.2007
FINANCIAL OVERVIEW
During the year total revenue of the company has been decreased to Rs. 4832.815 Millions as compared to Rs. 5619.028 Millions in the previous year representing a decline of 13.99% from the previous year level. The Company’s Profit before tax stood at Rs. 69.844 Millions as compared to Rs. 141.333 Millions in the previous year representing a decline of 50% which is due to high input cost, lower sales realization etc. The Company has managed to maintain the profitability during the year in spite of the effect of the recession witnessed throughout the world. The Company has provided all its efforts to maintain the profitability in such a challenging market condition and with good team work the company has maintained the trend of profit in the worst market situation.
ECONOMY /INDUSTRY
SCENARIO
The fiscal year 2011-12 witnessed a lower rate of growth in the Indian economy. The real GDP growth rate was just 6.8% after growing by 8.4% in each of the two previous fiscal years. During the year serious inflationary trends were continued to be felt at consumer price levels. The rupee also depreciated sharply which had an adverse impact across all sections of the economy especially those sections which depended on imports. The interest rates also hardened. The other international factors also affected the economy are financial turbulence in the Eurozone, weak private demand in the United States and events in Japan and the Middle East. Thus the overall impact of all these factors was felt on all segment of Indian economy.
Against the backdrop of the above described scenario the worldwide steel industry witnessed balanced growth during 2011-12. The growth in international steel demand was motivated due to the increased demand from industries including infrastructure, construction and automotive, particularly in the promising markets;
During the year 2011-12, the worldwide steel demand is likely to have increased by 6% to reach a new high of 1,373 million tonnes, 13% above the pre crisis levels in 2007-09. Growth was led by the promising economies, notably China and India. In the developed economies, demand levels remained 15-25% below 2007 levels.
India is now the 4th largest crude steel producing country in the world after China, Japan and the USA. The country’s total production has been raised by approximately 6% in 2011 over 2010.
The steel prices during Financial Year 2011-12 have increased from the average prices prevailing in the previous financial year driven by increase in the input costs and improvement in demand.
Looking ahead, worldwide steel market are likely to remain generally positive, For 2012 as a whole, global steel demand is forecast to grow by a further 4% to reach 1,422 million tonnes. China, India and other emerging markets will continue to drive demand. But recent market developments suggest likely slackening of estimated demand in 2012-13 due to the recent changes in the monetary policy in China to reduce bank credit and improve asset quality as well as lower growth forecast in India.
Despite of the truculence during the financial year 2011-12 the company has achieved a moderate sales volume and profit. The Company is now focusing on some new developments in the product segments in which the company is operating and is expecting to increase its sales volume and profitability. They are now give more focus on R and D, product differentiation, cost reduction, new market mix, consumption of raw materials, power and fuel etc.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U27109WB1995PLC071548 |
|
Name of the
company |
SHYAM FERRO
ALLOYS LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Vishwakarma, 86C, 2nd Floor, Topsia Road, Kolkata – 700046,
West Bengal, India E-mail: sfal@shyamferro.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others
(All other Current and Moveable Fixed Assets.) |
|
Particular of
charge holder |
State Bank of
India, Industrial Finance Branch, 11, Dr. U. N. Brahmachari Street, Kolkata –
700017, West Bengal, India E-mail: sbi1936@sbi.co.in |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Goods and Assets - (Form-C.2). Letter Regarding
the Grant of Individual Limits within the Overall Limit - (Form-C.5). |
|
Date of
instrument Creating the charge |
17.05.2013 |
|
Amount secured by
the charge |
Rs.1370.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit : At 0.90%
above Base Rate, present effective rate will be 10.60% p.a. at monthly rests. SLC : At 1.90%
above Base Rate, present effective rate will be 11.60% p.a. at monthly rests. Terms of
Repayment Working Capital
Limit is repayable on demand. Margin As stipulated by
the Bank for the respective assets from time to time. Raw Material
(Domestic/Import) : 25%, Stock in process
: 25%, Finished Goods :
25%, Receivables
(Cover 90 days) : 30%, EPC : 10% of FOB
value of Export, Letter of Credit
: 5% and Band Guarantee :
5%. Extent and
Operation of the charge The charge
operates as pari passu first charge basis on the current assets and moveable
fixed assets of the Company, both present and future with other Working Capital
consortium member banks to secure the maximum amount under the said charge
fixed at Rs.1370.000 Millions together with interest, costs and charges
thereon. Others The overall limit
of Rs.1370.000 Millions is consisting of Cash Credit Rs.360.000 Millions, EPC
(within the overall CC limit) (Rs.150.000 Millions), FBD (within the overall
CC limit) (Rs.100.000 Millions), Letter of Credit Rs.800.000 Millions, LOC/BC
(within LC) (Rs.420.000 Millions), Bank Guarantee Rs.30.000 Millions, Forward
Contract Rs.30.000 Millions and SLC Rs.150.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
the entire current assets of the Company on pari passu basis with consortium
member banks. First charge on
the moveable fixed assets of the Company on pari passu basis with other WC
Consortium member banks. Pledge of STDR of
Rs.4.200 Millions in the name of the Company. Personal
Guarantee of Shri Brij Bhusan Agarwal, Shri Mahabir Prasad Agarwal and Shri
Anjani Kumar Goyal. |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Emission Reduction Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
Intangible Assets
· Computer Software
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.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
51 |
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.