MIRA INFORM REPORT
|
Report Date : |
01.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
HIRA POWER AND STEELS LIMITED (w.e.f. 02.01.2007) |
|
|
|
|
Formerly Known
As : |
HIRA GLOBAL POWER AND STEELS LIMITED (w.e.f. 08.08.2006) JAIN CARBIDE AND CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
557, 563 Urla Industrial Area, Raipur – 492001, Chhattisgarh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
27.07.1984 |
|
|
|
|
Com. Reg. No.: |
10-002512 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.43.991 Millions (As on: 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification No.] |
U24117CT1984PLC002512 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JBPJ004218 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ0138Q |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Ferro Alloys Products, Generation of Electricity and Mining Activity. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4500000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. The balance sheet of 2012 is not made available. As per available
financials, the company is found to be performing well. Trade relations are reported
as fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealing 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 |
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB (Fund Based Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
May 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A2 (Non-Fund Based Facilities) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
May 2013 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Nayak |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-771-4082573 |
|
Date : |
26.09.2013 |
LOCATIONS
|
Registered Office/ Factory : |
557, 563 Urla Industrial Area, Raipur – 492001, Chhattisgarh, India |
|
Tel. No.: |
91-771-2323018 / 4082500 / 4082600 |
|
Fax No.: |
91-771-4082501 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
City Office : |
Om Kutir, Civil Lines, Raipur - 493111, Chhattisgarh, India |
|
Tel. No.: |
91-771-2429464 |
|
Fax No.: |
91-771-2430531 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Vikas Agrawal |
|
Designation : |
Whole Time Director |
|
Address : |
Om Kutir, Civil Lines, Raipur - 493111, Chhattisgarh,
India |
|
Date of Birth/Age : |
06.12.1980 |
|
Qualification : |
Electrical Engineer |
|
Date of Appointment : |
04.06.2003 |
|
DIN No.: |
01075816 |
|
|
|
|
Name : |
Mr. Devendra Pratap Singh |
|
Designation : |
Whole Time Director |
|
Address : |
Mig-2229, Housing Board Colony, Veersawarkar Nagar, Hirapur, Raipur, Chhattisgarh,
India |
|
Date of Birth/Age : |
06.04.1968 |
|
Date of Appointment : |
16.08.2012 |
|
DIN No.: |
05354919 |
|
|
|
|
Name : |
Mr. Alok Agrawal |
|
Designation : |
Director |
|
Address : |
Sushila, 5. Park Avenue, Choubey Colony, Raipur - 492001 Chhattisgarh,
India |
|
Date of Birth/Age : |
05.07.1968 |
|
Date of Appointment : |
29.10.2009 |
|
DIN No.: |
00494805 |
|
|
|
|
Name : |
Mr. Subhash Mahendru |
|
Designation : |
Director |
|
Address : |
B-2, HIG, MPHB Colony, Raipurnaka, Durg – 491001,
Chhattisgarh, India |
|
Date of Birth/Age : |
10.02.1952 |
|
Date of Appointment : |
21.06.2004 |
|
DIN No.: |
01355122 |
|
|
|
|
Name : |
Mr. Om Prakash Goyal |
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Designation : |
Director |
|
Address : |
21/466, Kewal Cottage, Opposite Saggar Nursing Home Civil Lines
Raipur- 492001,
Chhattisgarh, India |
|
Date of Birth/Age : |
28.06.1954 |
|
Qualification : |
Civil Engineer |
|
Date of Appointment : |
11.08.2008 |
|
DIN No.: |
02320467 |
|
|
|
|
Name : |
Mr. Kamal Keshore Gulati |
|
Designation : |
Whole Time Director |
|
Address : |
C-704, 7th Floor, Gorai Shivsambhu, Borivali (West), Mumbai - 400092, Maharashtra,
India |
|
Date of Birth/Age : |
28.02.1959 |
|
Qualification : |
M.A.(Economics) |
|
Date of Appointment : |
11.08.2008 |
|
DIN No.: |
02332912 |
KEY EXECUTIVES
|
Name : |
Mr. Nayak |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
O.P. Agrawal |
|
2108800 |
|
O.P. Agrawal (HUF) |
|
477450 |
|
Rajdevi Agrawal |
|
48650 |
|
Ekta Agrawal |
|
30100 |
|
Vikas Agrawal |
|
822000 |
|
Rahul Agrawal |
|
829000 |
|
Stylowear Private Limited, India |
|
19000 |
|
Revro Real Estate and Finance Private Limited, India |
|
6500 |
|
Evero Properties and Finance Private Limited, India |
|
2500 |
|
Antral Finance and Investment Private Limited, India |
|
12100 |
|
Hira Global Alloys Limited, India |
|
43000 |
|
|
|
|
|
Total |
|
4399100 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
1.89 |
|
Directors or relatives of directors |
|
98.11 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ferro Alloys Products, Generation of
Electricity and Mining Activity. |
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Products : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (As On 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Ferro Alloys: |
|
|
|
Silico Manganese |
MT |
41000 |
|
Ferro Manganese |
MT |
46000 |
|
Ferro Silicon |
MT |
30000 |
|
Pig Iron |
MT |
45000 |
|
Power Plant |
|
|
|
Power |
MW |
20 |
Note
1. The licenced and installed capacity as certified by the management.
2. The installed capacity of Ferro alloys plant depends upon the product manufactured by the Company. The installed capacity mentioned above is based on manufacture of single product I.e. in case of production of Silico Manganese the plant capacity is 35000 TPA and in case of production of Ferro Manganese in capacity is 40000 TPA. In case both the product is manufactured the capacity would vary depending upon the product mix.
|
Particulars |
Unit |
Actual
Production |
|
Silico Manganese |
MT |
11531.050 |
|
Ferro Manganese |
MT |
24502.900 |
|
Power Generation |
In Units |
160666201 |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
O. P. Singhania and Company Chartered Accountants |
|
Address : |
"JDS Chambers" 1st Floor 6 Central
Avenue Choube Colony, Raipur - 492001, Chattisgarh, India |
|
PAN.: |
AAAFO3891P |
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|
|
|
Associates: |
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CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4399100 |
Equity Shares |
Rs.10/- each |
Rs.43.991
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 |
|
43.991 |
43.991 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1091.135 |
899.758 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1135.126 |
943.749 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
852.181 |
781.841 |
|
|
2] Unsecured Loans |
|
183.221 |
126.525 |
|
|
TOTAL BORROWING |
|
1035.402 |
908.366 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2170.528 |
1852.115 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
808.543 |
817.896 |
|
|
Capital work-in-progress |
|
64.761 |
35.167 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
5.426 |
24.263 |
|
|
DEFERREX TAX ASSETS |
|
73.001 |
50.148 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1209.932
|
460.765 |
|
|
Sundry Debtors |
|
302.651
|
57.833 |
|
|
Cash & Bank Balances |
|
249.711
|
118.264 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
288.143
|
381.139 |
|
Total
Current Assets |
|
2050.437
|
1018.001 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
689.083
|
39.951 |
|
|
Other Current Liabilities |
|
71.012
|
17.518 |
|
|
Provisions |
|
82.962
|
46.781 |
|
Total
Current Liabilities |
|
843.057
|
104.250 |
|
|
Net Current Assets |
|
1207.380
|
913.751 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
11.417 |
10.890 |
|
|
|
|
|
|
|
|
TOTAL |
|
2170.528 |
1852.115 |
|
Note: Balance Sheet for the year 2012 is not
available, only profit and loss account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2857.410 |
2242.081 |
1327.140 |
|
|
|
Other Income |
60.700 |
29.414 |
26.396 |
|
|
|
TOTAL (A) |
2918.110 |
2271.495 |
1353.536 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1721.956 |
1575.442 |
|
|
|
|
Purchases of stock-in-trade |
300.644 |
301.587 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
149.376 |
(202.421) |
|
|
|
|
Employee benefit expense |
77.921 |
54.687 |
|
|
|
|
Other expenses |
329.143 |
182.024 |
|
|
|
|
TOTAL (B) |
2579.040 |
1911.319 |
1083.403 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
339.070 |
360.176 |
270.133 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
114.368 |
89.865 |
59.907 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
224.702 |
270.311 |
210.226 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
52.711 |
50.797 |
43.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
171.991 |
219.514 |
166.627 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.638 |
22.066 |
9.954 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
164.353 |
197.448 |
156.673 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
856.844 |
674.467 |
522.941 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Adjustment For Employees Benefit as per Transitional Prov. |
|
0.941 |
0.000 |
|
|
|
Dividend |
|
4.399 |
4.399 |
|
|
|
Tax on Dividend |
|
0.731 |
0.748 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
856.844 |
674.467 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
18.926 |
NA |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
NA |
1321.307 |
234.133 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
37.36 |
44.88 |
35.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.63 |
8.69
|
11.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.02 |
9.79
|
12.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
7.68
|
8.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.19
|
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA |
0.91
|
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
2.43
|
9.76 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2011 |
|
|
|
|
Rupee term loans banks unsecured (A) |
146.077 |
|
Deferred sales tax loan unsecured (B) |
7.144 |
|
Other debt unsecured (C) |
30.000 |
|
|
|
|
Total |
183.221 |
Notes:
(A) From Banks secured by pledge of property of other body corporate
(B) Sales tax payable (under Sales tax Deferment Scheme)
(C) From Body corporate
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10450354 |
09/09/2013 |
290,000,000.00 |
AXIS BANK LIMITED |
JEEVAN BIMA MARG, OPP NEW BUS STAND, PANDRI, RAI |
B85493344 |
|
2 |
10270223 |
09/02/2011 |
375,000,000.00 |
BANK OF INDIA |
2ND FLOOR, RAVI BHAWAN, SHARDA CHOWK, RAIPUR, CHHATTISGARH - 492001, INDIA |
B07435084 |
|
3 |
10234216 |
27/07/2010 |
300,000,000.00 |
BANK OF INDIA |
2ND FLOOR, RAVI BHAVAN, SHARDA CHOWK, RAIPUR, CHHATTISGARH - 492001, INDIA |
A92231752 |
|
4 |
10192770 |
24/12/2010 * |
385,000,000.00 |
3i Infotech Trusteeship Services Limited |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
B03801156 |
|
5 |
10189290 |
25/11/2009 |
50,000,000.00 |
SYNDICATE BANK |
113, SURJA DEVI SHUKLA MARKET COMPLEX, STATION ROAD, RAIPUR, CHHATTISGARH - 492001, INDIA |
A74846569 |
|
6 |
10189419 |
16/11/2009 |
150,000,000.00 |
BANK OF INDIA |
2ND FLOOR, RAVI BHAVAN, SHARDA CHOWK, RAIPUR, CHHATTISGARH - 492001, INDIA |
A74943655 |
|
7 |
10181918 |
10/11/2012 * |
546,400,000.00 |
BANK OF INDIA |
MAIN BRANCH, SAMVET SHIKHAR COMPLEX, RAJBANDHA MAIDAN, RAIPUR, CHHATTISGARH - 492001, INDIA |
B64791528 |
|
8 |
10153131 |
04/03/2009 |
100,000,000.00 |
BANK OF INDIA |
SECOND FLOOR, RAVI BHAWAN, SHARDA CHOWK, RAIPUR, |
A60517398 |
|
9 |
10076586 |
03/09/2007 |
200,000,000.00 |
BANK OF INDIA |
2ND FLOOR, RAVI BHAWAN,, SHARDA CHOWK, RAIPUR, CHHATTISGARH - 492001, INDIA |
A27203660 |
|
10 |
10045512 |
30/03/2007 |
30,000,000.00 |
SYNDICATE BANK |
STATION ROAD BRANCH, RAIPUR, CHHATTISGARH - 492001, INDIA |
A13552963 |
|
11 |
10007157 |
15/06/2006 |
30,000,000.00 |
SYNDICATE BANK |
STATION ROAD BRANCH, RAIPUR, CHHATTISGARH - 492001, INDIA |
A01912054 |
|
12 |
90202017 |
27/06/2005 * |
95,000,000.00 |
SYNDICATE BANK |
STATION ROAD BRANCH, RAIPUR, MADHYA PRADESH, INDIA |
- |
|
13 |
90204329 |
05/05/2005 * |
300,000,000.00 |
INFRASTRUCTURE DEVELOPMENT FINANCE COMPNAY LIMITED |
RAMON HOUSE; H. T. PAREKH MARG, 169; BACKBAY RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
14 |
90206318 |
10/11/2012 * |
475,000,000.00 |
BANK OF INDIA |
MAIN BRANCH, SAMVET SHIKHAR COMPLEX, RAJBANDHA M |
B64792112 |
|
15 |
90210347 |
17/11/1987 |
927,000.00 |
MADHYA PRADESH FINANCIAL CORPORATION |
BOMBAI - AGRA ROAD, INDOR, MADHYA PRADESH, INDIA |
- |
|
16 |
90206796 |
08/04/1993 * |
2,500,000.00 |
STATE BANK OF INDIA |
PHAPHADIH BRANCH, RAIPUR, MADHYA PRADESH, INDIA |
- |
|
17 |
90201315 |
08/01/1987 |
2,600,000.00 |
M. P. FINANCIAL CORPORATION |
FINANCE HOUSE, AGRA BOMBAI ROAD, INDORE, MADHYA PRADESH, INDIA |
- |
|
18 |
90201310 |
28/06/1986 |
3,000,000.00 |
M. P. FINANCIAL CORPORATION |
FINANCE HOUSE, BOMBAI AGRA ROAD, INDORE, MADHYA PRADESH, INDIA |
- |
* Date of charge modification
CONTINGENT LIABILITIES NOT PROVIDED FOR
(Rs. In Millions)
|
Particular |
31.03.2011 |
31.03.2010 |
|
Entry Tax |
0.067 |
0.067 |
|
Commercial Tax |
4.360 |
2.722 |
|
Excise Duty |
57.823 |
47.196 |
|
Bank Gaurantee |
26.583 |
14.400 |
|
Claims not acknowledge as debts |
8.657 |
0.000 |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Office Equipments
- Computer Equipments
- Furniture and Fixtures
- Vehicles
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.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.