1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SKS ISPAT AND
POWER LIMITED |
Principal Name 1 |
Mr. Anil Mahabir Gupta |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Deepak Gupta |
|
|
|
Registration # |
11-125893 |
|
Street Address |
501B, Elegant
Business Park, Andheri Kurla Road, J. B. Nagar, Andheri (East), Mumbai –
400059, Maharashtra |
||
|
Established Date |
17.04.2000 |
SIC Code |
-- |
|
Telephone# |
91-22-30807063 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-30807070 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Steel Melting Shop |
|
|
# of employees |
Above 1000 (Approximately) |
Product Name 2 |
Sponge Iron |
|
Paid up capital |
|
Product Name 3 |
Coal Washery |
|
Shareholders |
Bodies Corporate - 89.26 % Directors or
relatives of Directors - 10.74 % |
Banking |
State
Bank of India |
|
Public Limited Corp. |
NO |
Business Period |
13 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company : |
-- |
Citywings Agencies Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,953,507,000 |
Current Liabilities |
1,517,551,000 |
|
Inventories |
3,171,131,000 |
Long-term Liabilities |
7,410,019,000 |
|
Fixed Assets |
7,364,953,000 |
Other Liabilities |
,807,492,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
9,735,062,000 |
|
Invest& other Assets |
1,303,667,000 |
Retained Earnings |
5,592,492,000 |
|
|
|
Net Worth |
6,058,196,000 |
|
Total Assets |
15,793,258,000 |
Total Liab. & Equity |
15,793,258,000 |
|
Total Assets (Previous Year) |
13,572,866,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
13,880,069,000 |
Net Profit |
15,331,000 |
|
Sales(Previous yr) |
9,889,300,000 |
Net Profit(Prev.yr) |
243,501,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SKS ISPAT AND POWER LIMITED |
|
|
|
|
Registered
Office : |
501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri (East),
Mumbai – 400059, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
17.04.2000 |
|
|
|
|
Com. Reg. No.: |
11-125893 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.465.704 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2000PLC125893 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS28171D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS3299N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Structural Steel with integrated
facilities like Power Plant, Steel Melting Shop, Sponge Iron, Rolling Mills
and Coal Washery. |
|
|
|
|
No. of Employees
: |
Above 1000 (Approximately) (In Office + In Factory + In Branches)` |
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 24000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Balance Sheet statement for the year 2012 is not available. However, there
seems a growth in the turnover but there also appears sharp dip in the profitability
of the company. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for normal for business dealings at
usual trade terms and conditions. Balance Sheet for the year 2012 is not available only Profit and Loss
Account for the year 2012 is available.
|
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 |
CARE |
|
Rating |
LONG TERM RATING : CARE BBB (REVISED FROM A-) |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk. |
|
Date |
March, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
SHORT TERM RATING : CARE A3+ (REVISED FROM A2+) |
|
Rating Explanation |
Moderate degree of safety it carry higher credit risk. |
|
Date |
March, 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.
INFORMATION PARTED BY
|
Name : |
Ms. Pravina |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-30807000 |
|
Date : |
02.03.2013 |
LOCATIONS
|
Registered Office / Corporate
Office : |
501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri
(East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-30807063 / 30807000 |
|
Fax No.: |
91-22-30807070 / 80 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Phase-II, Industrial
Growth Centre, Village Siltara, 18th Mile Stone, Bilaspur –Raipur
Road, Raipur-493111, Chattisgarh, India |
|
Tel. No.: |
91-7721-264380 |
|
Fax No.: |
91-7721-264378 / 77 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at ·
Gujarat ·
New Delhi ·
Jharkhand |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Anil Mahabir Gupta |
|
Designation : |
Managing director |
|
Address : |
4th Floor, Nirmal Pran\bhu, Road No.7, J.V.P.D. Scheme,
Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
17.04.2000 |
|
DIN No.: |
00046213 |
|
Name : |
Mr. Deepak Gupta |
|
Designation : |
Managing director |
|
Address : |
H No.
B/1, College Ward, Taluka Raipur, District Raipur, Chhattisgarh, India |
|
Date of Birth/Age : |
09.01.1974 |
|
Qualification : |
B.
Com |
|
Date of Appointment : |
01.08.2004 |
|
DIN No.: |
00645211 |
|
Name : |
Mr. Prasanna Kumar Mishra |
|
Designation : |
Director |
|
Address : |
Gangotri,
BJ - 26, BJB Nagar, Bhubaneshwar - 751 014, Orissa, India |
|
Date of Birth/Age : |
15.02.1944 |
|
Date of Appointment : |
30.03.2007 |
|
DIN No.: |
00888286 |
|
Name : |
Mr. Ravindranath Ratho |
|
Designation : |
Whole-time director |
|
Address : |
Flat
No. 18, 5th Floor, Somavarapur Towers, Rajbhavan Road, Somajiguda, Hyderabad
- 500 082, Andhra Pradesh, India |
|
Date of Birth/Age : |
25.10.1958 |
|
Qualification : |
C.A. |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00076468 |
|
Name : |
Mr. Varanasi Janardhan Rao |
|
Designation : |
Director |
|
Address : |
6/2,
Maitri Nagar, Risali, Bhilai, Durg - 491 001, Chhattisgarh, India |
|
Date of Birth/Age : |
27.05.1955 |
|
Date of Appointment : |
24.03.2009 |
|
DIN No.: |
02608883 |
|
Name : |
Mr. Pradeep Kumar Panda |
|
Designation : |
Whole-time director |
|
Address : |
Vimal Inclave, A/02 Bhanpuri,
Raipur, Chhattisgarh – 494224, India |
|
Date of Birth/Age : |
02.04.1955 |
|
Date of Appointment : |
09/04/2012 |
|
DIN No.: |
05249298 |
KEY EXECUTIVES
|
Name : |
Ms. Pravina |
|
Designation : |
Finance Executive |
|
|
|
|
Name : |
Mr. Rajini Kanth Mulugu |
|
Designation : |
Secretary |
|
Address : |
S/2-303,
Malad Kokil CHS. Limited, Sundernagar, S. V. Road, Malad (West), Mumbai - 400
069, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1976 |
|
Date of Appointment : |
01.02.2010 |
|
PAN No.; |
AVTPM9512H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Anil Gupta |
|
5086000 |
|
Deepak Gupta |
|
14100 |
|
Indo Emirates Building Solutions Private limited, India |
|
1550000 |
|
Gupta Steel Corporation Private Limited, India |
|
1153846 |
|
Lambodar Ispat Private Limited, India |
|
1370000 |
|
SKS Minerals and Mining Company Private Limited, India |
|
1351400 |
|
Sangeeta Gupta |
|
12000 |
|
Shares in Demat form |
|
37186850 |
|
Total |
|
47724196 |
List of Allottees
As on 11.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Shree Krishna Structures Private Limited, India |
|
2692310 |
|
Total |
|
2692310 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
89.26 |
|
Directors or relatives of Directors |
10.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Structural Steel with integrated
facilities like Power Plant, Steel Melting Shop, Sponge Iron, Rolling Mills
and Coal Washery. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cash and Credit (30 Days) |
||||
|
|
|
||||
|
Purchasing : |
L/C, Cash and Credit (30 Days) |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Sponge Iron |
M.T. |
|
270,000 |
225,121 |
|
Billet / Blooms |
M.T. |
|
345,6000 |
91,904 |
|
Rolled Products |
M.T. |
|
224,000 |
144,673 |
|
TMT / Wire Rod |
M.T. |
|
233,000 |
63,108 |
|
Ferro Alloys Plant |
M.T. |
|
28,300 |
7,286 |
|
Power Plant |
MW / KWH |
|
85MW |
321,97,265KWH |
Notes:
1) In terms of Press Note No.4(1994 series) dated 25.10.1994 issued by the
Department if Industrial Development, Ministry of Industry, Government of
India, industrial licensing has been abolished.
2) Installed capacities, being a technical matter, have not been verified by
the Auditors
GENERAL INFORMATION
|
Customers : |
Others (Manufacturers) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Above 1000 (Approximately) (In Office + In Factory + In Branches) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Commercial Branch, 2nd Floor, Pujari Chambers, Pachpedi Naka,, Raipur - 492001, Chhattisgarh, India · Union Bank of India, Apeejay Surendra 24 Baroda Street, St Road Carnac Bandar Masjid, Mumbai – 400009, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kapoor and Parikh Associates Chartered Accountants |
|
Address : |
Zaveri Building, 1st Floor, 157 Princess Street, Mumbai – 400002, Maharashtra,
India |
|
PAN.: |
AACPP9863E |
|
|
|
|
Holding Company : |
·
Citywings Agencies Private Limited |
|
|
|
|
Subsidiaries : |
·
SKS Power Generation (Chhatisgarh) Limited ·
SKS Power Generation (Madhya Pradesh) Limited ·
SKS Power Generation (Jharkhand) Limited ·
SKS Power Trading Limited ·
SKS Cements Limited ·
SKS Power Generation Limited ·
Shree Krishna Steels Global Pte Limited ·
SKS Power Holdings Limited |
|
|
|
|
Associates and Joint Venture : |
·
Gupta Steel Corporation Private Limited ·
Surya Infra venture Private Limited ·
Fatehpur Coal Mining Company Private Limited |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50500000 |
Equity Shares |
Rs.10/- each |
Rs.504.165 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50416506 |
Equity Shares |
Rs.10/- each |
Rs.504.165
Millions |
|
|
|
|
|
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47724196 |
Equity Shares |
Rs.10/- each |
Rs.477.242
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46570350 |
Equity Shares |
Rs.10/- each |
Rs.465.704
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
465.704 |
361.940 |
|
|
2] Share Application Money |
|
0.000 |
234.550 |
|
|
3] Reserves & Surplus |
|
5592.492 |
4318.210 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
6058.196 |
4914.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
6874.630 |
6291.753 |
|
|
2] Unsecured Loans |
|
535.389 |
900.000 |
|
|
TOTAL BORROWING |
|
7410.019 |
7191.753 |
|
|
DEFERRED TAX LIABILITIES |
|
790.180 |
720.063 |
|
|
|
|
|
|
|
|
TOTAL |
|
14258.395 |
12826.516 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
7364.953 |
7137.159 |
|
|
Capital work-in-progress |
|
1286.115 |
865.547 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
17.552 |
14.940 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
3171.131
|
2973.629 |
|
|
Sundry Debtors |
|
856.832
|
851.547 |
|
|
Cash & Bank Balances |
|
401.292
|
273.636 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
2695.383
|
1456.408 |
|
Total
Current Assets |
|
7124.638
|
5555.220 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1401.884 |
607.886 |
|
|
Other Current Liabilities |
|
115.667
|
91.683 |
|
|
Provisions |
|
17.312
|
46.781 |
|
Total
Current Liabilities |
|
1534.863
|
746.350 |
|
|
Net Current Assets |
|
5589.775
|
4808.870 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
14258.395 |
12826.516 |
|
Note : Balance Sheet for
the year 2012 is not available only Profit and Loss Account for the year 2012
is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
13880.069 |
9889.300 |
9627.991 |
|
|
|
|
Other Income |
58.968 |
204.516 |
197.434 |
|
|
|
|
TOTAL (A) |
13939.037 |
10093.816 |
9825.425 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of materials consumed |
5063.228 |
4465.005 |
|
|
|
|
|
Purchases of stock-in-trade |
5729.351 |
3235.225 |
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
206.009 |
(212.752) |
|
|
|
|
|
Employee benefit expense |
135.625 |
118.550 |
|
|
|
|
|
Other Expenses |
1093.178 |
796.076 |
|
|
|
|
|
Exceptional items |
251.776 |
0.000 |
|
|
|
|
|
TOTAL (B) |
12479.167 |
8402.104 |
8306.471 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1459.870 |
1691.712 |
1518.954 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
986.665 |
948.543 |
459.260 |
||
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
473.205 |
743.169 |
1059.694 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
426.948 |
413.649 |
313.347 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.257 |
329.520 |
746.347 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
30.926 |
86.019 |
145.014 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.331 |
243.501 |
601.333 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
NA |
NA |
404.777 |
|
|
|
TOTAL EARNINGS |
NA |
NA |
404.777 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
|
|
916.629 |
|
|
|
|
Stores & Spares |
|
|
1.315 |
|
|
|
|
Capital Goods |
|
|
15.089 |
|
|
|
TOTAL IMPORTS |
NA |
NA |
933.033 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
0.33 |
6.72 |
16.04 |
||
Expected Sales (2012-2013) : Rs.15000.000 Millions
The above information has been parted by Ms.
Pravina
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.33
|
2.41
|
6.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.11
|
3.37
|
7.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.27
|
5.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.05
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA
|
1.48
|
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
4.64
|
7.44 |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Rupee term loans banks unsecured |
335.389 |
0.000 |
|
Loans subsidiaries unsecured |
200.000 |
900.000 |
|
Total |
535.389 |
900.000 |
FINANCIAL RESULTS:
The Company has
achieved a Turnover of Rs.9783.212 Millions during the financial year as
against Rs.9627.991 Millions during the previous year. The EBDITA has increased
marginally to Rs.1691.692 Millions from Rs.1668.986 Millions despite two of the
turbines were out of operation for 3-5 months. The Profit after tax has
declined due to higher interest, and depreciation. The directors are confident
that increased power availability attributed to the commissioning of the 30MW
power plant coupled with the stabilization and scaling up of production
facilities shall result in higher profit margins in the coming years.
OPERATIONS:
Operations of
various production facilities, viz. Four DRI kilns, SMS comprising 8 nos of
Induction Furnaces and Concast, 25 MW WHRB based CPP, 30 MW AFBC boiler based
CPP, 30 MW CFBC boiler based CPP and Rolling mills are being gradually scaled
up. Due to the addition of Service facilities such as Railway siding, Iron ore
Crusher and other infrastructure facilities in the second and third phase,
Company has achieved substantial cost benefits in material handling and
logistics. Project: The Company is implementing a fourth Rolling Mill at the
existing plant at Siltara, which is expected to be commissioned by December
2011.
CONTINGENT LIABILITIES (AS ON 31.03.2011)
a) Estimated
amounts of contracts remaining to be executed on capital account and not
provided for (net of advances) Rs.1.234 Millions (Rs.6.016 Millions).
b) Bank guarantees
issued outstanding at the year end Rs.329.472 ( Rs.366.032 Millions).
c) Letter of
credit issued by banks outstanding at the year end Rs.337.883 Millions (
Rs.842.492 Millions).
d) Disputed excise
liabilities Rs.277.278 Millions ( Rs.272.215 Millions).
e) Claims against
the Company not acknowledged as debts Rs.10.152 Millions ( Rs.6.194 Millions).
f) Export
obligation to be fulfilled against imports made under EPCG Schemes Rs.527.693
Millions ( Rs.527.693 Millions). Customs Duty liability which may arise on
non-fulfilment of aforesaid export obligations Rs.65.962 Millions( Rs.65.962).
g) Corporate
guarantees issued on behalf of subsidiaries and an associate company
outstanding at the year end Rs.768.000 Millions (Rs.Nil).
FORM 8:
|
Corporate identity number of the company |
U27100MH2000PLC125893 |
|
Name of the company |
SKS ISPAT AND POWER LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri
(East), Mumbai – 400059, Maharashtra, India E-mail : corporateoffice@sksispat.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
L and T Finance Limited, L and T House, Ballard Estate, Mumbai –
400001, Maharashtra, India |
|
Nature of instrument creating charge |
Loan Agreement and Deed of Hypothecation, executed on 09.12.2011 in
favour L and T Finance Limited for Loan of Rs.200.000 Millions |
|
Date of instrument Creating the charge |
09.12.2011 |
|
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 14% p.a Terms of Repayment 10 Equal monthly installments of Rs. 20.000 Millions each starting
from the end of 9th month from the date of disbursement. Margin NIL Extent and Operation of the charge Second Pari-passu charge by way of hypothecation on the Movable Fixed
Assets of the Company for repayment of Loan of Rs. 200.000 Millions. Deed of
Hypothecation dated 09.12.2011 |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Second Pari-passu charge by way of hypothecation of entire movable
fixed assets, present and future of the Company. |
FIXED ASSETS:
·
Freehold Land
·
Building
-
Factory Building
-
Non-Factory Building
·
Plant and Machinery
·
Electrical Installation
·
Borewell
·
Material Handling
Equipments
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles (Motor Car)
·
Transport Vehicles
(Trailers)
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.54.48 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
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 |
|
- |
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.