MIRA
INFORM REPORT
|
Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GERDAU STEEL INDIA LIMITED (w.e.f. 25.02.2013) |
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|
|
|
Formerly Known
As : |
KALYANI GERDAU STEEL INDIA LIMITED (w.e.f. 08.10.2008) SJK STEEL PLANT LIMITED(w.e.f. 05.02.2004) SJK STEEL CORPORATION LIMITED (w.e.f. 22.03.1995) TADIPATRI METAL INDIA LIMITED (w.e.f. 20.07.1994) SUJANA METAL INDIA LIMITED |
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Registered
Office : |
75, MLA and MPS Colony, Road 10C, Jubilee Hills, Hyderabad-500033,
Andhra Pradesh |
|
|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
16.03.1993 |
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|
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Com. Reg. No.: |
01-015499 |
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Capital
Investment / Paid-up Capital : |
Rs. 6703.158 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109AP1993PLC015499 |
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|
|
|
PAN No.: [Permanent Account No.] |
AACCS8629N |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Steel. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 13000000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a company having a moderate track record. The plant was shut down during the year 2011-2012 to enable the
completion of phase – I capex program. No business activity was done during
the period. There appear huge external borrowings and accumulated losses recorded
by the company which is a threat to the company’s liquidity. However, business is active. Payment terms are slow. The company can be considered for business dealings with great caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
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 : |
75, MLA and MPS Colony, Road 10C, Jubilee Hills, Hyderabad-500033,
Andhra Pradesh |
|
Tel. No.: |
91-40-23542081 |
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Fax No.: |
91-40-23556913 |
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E-Mail : |
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Corporate Office : |
82, Nandi Durg Road, Bangalore-560046, Karnataka, India |
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Tel. No.: |
91-80-23431046 |
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E-Mail : |
|
|
|
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Factory 1 : |
Jambulapadu (V), Tadipatri Mandal, Ananthapur District – 515411,
Andhra Pradesh, India |
|
Tel. No.: |
91-8558.220222 / 228 |
|
Fax No.: |
91-8558-221299 / 688 |
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|
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Factory 2 : |
304/305, World Trade Center Bangalore, Brigade Gateway Complex, #26/1,
Dr. Rajkumar Road, Malleswaram (West), Bangalore-560055, Karnataka, India |
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Tel. No.: |
91-80-30262205 |
DIRECTORS
As on 28.09.2012
|
Name : |
Yalamanchili Jithin Kumar |
|
Designation : |
Director |
|
Address : |
Plot No.320, New MLA and MPS Colony, Road No.10C, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
09.06.1955 |
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Qualification : |
B.Com. |
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Date of Appointment : |
30.06.1994 |
|
DIN No.: |
00099750 |
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|
|
|
Name : |
Yalamanchili Janardhana Rao |
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Designation : |
Director |
|
Address : |
Plot No.299, New MLA and MPS Colony, Road No.10C, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India |
|
Date of Birth/Age : |
09.01.1932 |
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Qualification : |
B.E. |
|
Date of Appointment : |
29.09.2001 |
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DIN No.: |
00099891 |
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|
|
|
Name : |
Mr. Sanjay Vitthal Yewale |
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Designation : |
Director |
|
Address : |
F. No.4, Legand, Classic B Block, Gujarat Coly, Meera Medical, Kothrud, Pune-411029, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1965 |
|
Qualification : |
M.Com. |
|
Date of Appointment : |
18.10.2006 |
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DIN No.: |
01291359 |
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|
|
|
Name : |
Mr. Anand Baburao Shirsat |
|
Designation : |
Director |
|
Address : |
BII/3, Kamal Residancy Sukhsagar Nagar, Kondhwa Bk, Pune-411038, Maharashtra, India |
|
Date of Birth/Age : |
14.08.1965 |
|
Qualification : |
B.Com., LL.B. |
|
Date of Appointment : |
18/10/2006 |
|
DIN No.: |
00379551 |
|
|
|
|
Name : |
Ms. Deepti Rajeev Puranik |
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Designation : |
Director |
|
Address : |
Flat No.1, Akashdarshan, Plot No.76, Rambaug Colony, Paud Road, Pune-411038, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1965 |
|
Qualification : |
B.Com., LL.B, A.C.S. |
|
Date of Appointment : |
18.10.2006 |
|
DIN No.: |
01291379 |
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|
|
|
Name : |
Mr. Arvind Swarup Mathur |
|
Designation : |
Whole-time director |
|
Address : |
5.Circuit House Area, North-West, East Singhbhum, Jamshedpur-831001, Jharkhand, India |
|
Date of Birth/Age : |
13.07.1951 |
|
Qualification : |
BE (Hons.) |
|
Date of Appointment : |
30.03.2007 |
|
PAN No.: |
ABXPM6577C |
|
DIN No.: |
01970341 |
|
|
|
|
Name : |
Andre Beaudry |
|
Designation : |
Director |
|
Address : |
6025, Beacon Shores, Tampa FL, 33616, USA |
|
Date of Birth/Age : |
28.07.1958 |
|
Qualification : |
University Degree in Administration |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
02541241 |
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|
|
|
Name : |
Ms. Deepali Manish Agrawal |
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Designation : |
Nominee director |
|
Address : |
1503, Wallace Apartments, Wing 1, Naushir Barucha Road, Grant Road (West), Mumbai-400007, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1973 |
|
Qualification : |
B.Com , M.M.S.(Fin.) |
|
Date of Appointment : |
28.09.2011 |
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DIN No.: |
05103218 |
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|
|
|
Name : |
Ms. Kalpana Narendra Saindane |
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Designation : |
Nominee director |
|
Address : |
A-262, 26th Floor, Twin Tower, Near Kirti College, V.S. Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
06.12.1960 |
|
Qualification : |
B.Sc.(Chem.) |
|
Date of Appointment : |
17.03.2012 |
|
DIN No.: |
05230261 |
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|
|
|
Name : |
Marco Antonio Mayer Foletto |
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Designation : |
Whole-time director |
|
Address : |
H-406, Brigade Gateway, No.26/1, Dr. Rajkumar Road, Malleshwaram (West), Bangalore-560055, Karnataka, India |
|
Date of Birth/Age : |
24.03.1970 |
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Date of Appointment : |
21.03.2012 |
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PAN No.: |
BSZPM9314F |
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DIN No.: |
05230272 |
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|
|
|
Name : |
Mark Anthony Marcucci |
|
Designation : |
Director |
|
Address : |
4932, Country LN Jackson, MI Jackson 482019787 |
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Date of Birth/Age : |
20.09.1954 |
|
Date of Appointment : |
19.12.2012 |
|
DIN No.: |
06456919 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
No. of
Equity Shares |
No. of
Preference Shares |
|
Y. Jithin Kumar (HUF) |
3516606 |
10989394 |
|
Y.Uma Rani |
598170 |
1869285 |
|
Optrex Finexim Private Limited, India |
1512880 |
4727750 |
|
Y.Janardhan Rao |
402 |
1255 |
|
Y.Suseela Kumari |
802 |
2505 |
|
S.K. Gupta |
1200 |
3750 |
|
Mala Gupta |
1200 |
3750 |
|
Monika Bose |
59440 |
185750 |
|
Paramount Sinters Private Limited, India |
32000 |
100000 |
|
Power Max India Private Limited, India |
99200 |
310000 |
|
Stressed Assets Stabilisation Fund (SASF) , India |
2767412 |
-- |
|
Industrial Finance Corporation of India Limited, India |
890000 |
-- |
|
Life Insurance Corporation of India, India |
321000 |
-- |
|
General Insurance Corporation of India, India |
44802 |
-- |
|
The New India Assurance
Company Limited, India |
44802 |
-- |
|
National Insurance Company
Limited, India |
30000 |
-- |
|
The Oriental Insurance Company
Limited, India |
26880 |
-- |
|
United India Insurance Company
Limited, India |
24000 |
-- |
|
Export Import Bank of India, India |
301904 |
-- |
|
Bank of India, India |
430000 |
-- |
|
Union Bank of
India |
400000 |
-- |
|
Dena Bank, India |
379200 |
-- |
|
Punjab National Bank, India |
340000 |
-- |
|
Kalyani Investment Company Limited, India |
56155556 |
75486111 |
|
Corporacion Sidenor, S.A. Y CIA, S.R.C., Spain |
1027554866 |
-- |
|
Total |
1095532322 |
93679550 |
Allottees as on 15.02.2013
|
Names of Allottees |
|
No. of
Equity Shares |
|
Gerdau Holdings Europa, S.A. YCIA, S.R.C., Espana |
|
260095164 |
|
Total |
|
260095164 |
Allottees as on 17.01.2013
|
Names of Allottees |
|
No. of
Equity Shares |
|
Gerdau Holdings Europa, S.A. YCIA, S.R.C., Espana |
|
76092169 |
|
Total |
|
76092169 |
Allottees as on 25.10.2012
|
Names of Allottees |
|
No. of
Equity Shares |
|
Corporation Sidenor, S.A, Y CIA, S.R.C. |
|
183609362 |
|
Total |
|
183609362 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Public financial
companies |
0.38 |
|
Nationalised or other
banks |
0.17 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
93.79 |
|
Bodies corporate |
5.27 |
|
Directors or relatives of Directors |
0.38 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
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|
Bankers : |
Dena Bank, M.G. Road Branch, Secunderabad - 500003, Andhra Pradesh, India |
|||||||||
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|
|||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706, B wing, 7th Floor, ICC Trade Tower, International Convention Centre, Senapati Bapat Marg, Pune-411016, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Related Parties : |
· Corporation Sidenor, S.A.Y CIA, S.R.C, Spain · Kalyani Steels Limited, India CIN No.: L27104MH1973PLC016350 |
CAPITAL STRUCTURE
After 28.09.2012
Authorised Capital : Rs. 20000.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 16335.225 Millions
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1900000000 |
Equity Shares |
Rs.10/- each |
Rs. 19000.000 Millions |
|
100000000 |
Preference Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 20000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1095532322 |
Equity Shares |
Rs.10/- each |
Rs. 10955.323 Millions |
|
93679550 |
Preference Shares |
Rs.10/- each |
Rs. 936.796 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 11892.119
Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.10/- each |
Rs. 6000.000 Millions |
|
500000000 |
Preference Shares |
Rs.10/- each |
Rs. 5000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 11000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
576636200 |
Equity Shares |
Rs.10/- each |
Rs. 5766.362 Millions |
|
93679600 |
Preference Shares |
Rs.10/- each |
Rs. 936.796 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 6703.158
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
6703.158 |
3699.931 |
2510.863 |
|
|
2] Share Application Money |
2032.374 |
54.678 |
656.283 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
3171.433 |
|
|
4] (Accumulated Losses) |
(5479.612) |
(2663.344) |
(4613.311) |
|
|
NETWORTH |
3255.920 |
1091.265 |
1725.268 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13342.012 |
14708.720 |
14616.756 |
|
|
2] Unsecured Loans |
180.000 |
1300.500 |
180.000 |
|
|
TOTAL BORROWING |
13522.012 |
16009.220 |
14796.756 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16777.932 |
17100.485 |
16522.024 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5870.802 |
8246.487 |
8647.704 |
|
|
Capital work-in-progress |
2953.059 |
1201.833 |
7043.604 |
|
|
|
|
|
|
|
|
INVESTMENT |
84.947 |
84.947 |
84.947 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1519.777
|
316.911 |
246.463 |
|
|
Sundry Debtors |
0.105
|
0.371 |
1.171 |
|
|
Cash & Bank Balances |
1263.747
|
465.029 |
554.625 |
|
|
Other Current Assets |
5815.098
|
6667.265 |
2.478 |
|
|
Loans & Advances |
1464.710
|
804.675 |
145.447 |
|
Total
Current Assets |
10063.437
|
8254.251 |
950.184 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1482.980
|
286.216 |
180.414 |
|
|
Other Current Liabilities |
693.560
|
390.760 |
10.405 |
|
|
Provisions |
17.773
|
10.057 |
13.596 |
|
Total
Current Liabilities |
2194.313
|
687.033 |
204.415 |
|
|
Net Current Assets |
7869.124
|
7567.218 |
745.769 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16777.932 |
17100.485 |
16522.024 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
17.639 |
178.766 |
|
|
|
Other Income |
40.409 |
118.813 |
75.647 |
|
|
|
TOTAL (A) |
40.409 |
136.452 |
254.413 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
358.668 |
51.490 |
|
|
|
|
Employee benefit expense |
207.514 |
112.963 |
502.160 |
|
|
|
Other expenses |
427.143 |
376.083 |
|
|
|
|
Exceptional Items |
1832.224 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(336.012) |
(55.033) |
|
|
|
|
TOTAL (B) |
2489.537 |
485.503 |
502.160 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(2449.128) |
(349.051) |
(247.747) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
448.381 |
462.959 |
357.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(2897.509) |
(812.010) |
(605.540) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
344.023 |
414.549 |
436.784 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(3241.532) |
(1226.559) |
(1042.324) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.851 |
(5.093) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(3243.383) |
(1221.466) |
(1042.324) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(5834.777) |
(4613.311) |
(3570.987) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(9078.160) |
(5834.777) |
(4613.311) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
135.821 |
331.356 |
857.762 |
|
|
|
Raw Materials |
1065.473 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1201.294 |
331.356 |
857.762 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.39) |
(4.95) |
(7.51) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(8026.39)
|
(895.16) |
(409.70) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
(6953.68) |
(583.07) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.05)
|
(7.43) |
(10.86) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.00)
|
(1.12) |
(0.60) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.15
|
14.67 |
8.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.59
|
12.01 |
4.65 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
No |
PROJECT STATUS:
Company has already commissioned the Sinter plant and Captive power plant in Aug/2012. Modernization of Blast Furnace is done and ready for production. SMS (Steel Melting Shop) modernization is almost done and getting ready for production by Oct/2012. New Rolling Mill is getting ready for production by Dec/2012. Board is pleased to inform that company has planned to start production of Blast Furnace and SMS in Oct/2012 along with sinter plant and captive power plant followed with Rolling Mill production in Dec/2012.
FINANCIAL RESULTS:
The plant was under shut down during the year to enable the completion of phase-I capex program. During the year under review, the Company has achieved other income of Rs 40.409 Million and has made a loss of Rs.3243.383 Million which is inclusive of Rs 1832.224 Million on account of exceptional items as detailed in note 52 in the Financial Statement.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Loans and advances from related parties |
180.000 |
180.000 |
|
Other loans and advances |
0.000 |
1120.500 |
|
Total |
180.000 |
1300.500
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27109AP1993PLC015499 |
|
Name of the
company |
KALYANI GERDAU
STEELS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
75, MLA and MPS Colony, Road 10C, Jubilee Hills, Hyderabad-500033,
Andhra Pradesh, India E-Mail: ksl@kalyanisteels.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Dena Bank, M.G. Road Branch, Secunderabad - 500003, Andhra Pradesh, India Email: mgrsec@denabank.co.in |
|
Nature of
instrument creating charge |
No instrument was
executed. A mortgage by deposit of title deeds by way of constructive
delivery was created by the company on 27-03-2012 with IDBI, IDBI acting as
agent of Dena Bank in respect of its immovable properties situated at
Bodaipalli, Challavaripalli, Hussainpuram, Jambulapadu and Veerapuram
Villages in Tadipatri Mandal in Ananthapur District in the State of Andhra
Pradesh, as confirmed by IDBI vide letter No.IDBI/HBO dt. March 28, 2012 |
|
Date of instrument
Creating the charge |
27.03.2012 |
|
Amount secured by
the charge |
Rs. 48.707 |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 9% p.a. Terms of
Repayment FITL-IV will be re-payable
as follows : FY 2011-12 : 3%
of FITL-IV FY 2012-13 : 5%
of FITL-IV FY 2013-14 : 30%
of FITL-IV FY 2014-15 : 25%
of FITL-IV FY 2015-16 : 10%
of FITL-IV FY 2016-17 : 17%
of FITL-IV FY 2017-18 : 10%
of FITL-IV Extent and
Operation of the charge First pari passu
charge on all the immovable property of the Company, |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Immovable
Properties situate at Bodaipalli, Challavaripalli, Hussainpuram, Jambulapadu
and Veerapuram Villages in Tadipatri Mandal in A.P; together with all
buildings, plant and machinery etc. |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
·
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.54.29 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.