MIRA
INFORM REPORT
|
Report Date : |
18.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL STEEL AND AGRO INDUSTRIES LIMITED (w.e.f. 08.04.2003) |
|
|
|
|
Formerly Known
As : |
NATIONAL STEEL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
621, Tulsiani
Chambers, 6th Floor,
Nariman Point, Mumbai – 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.01.1985 |
|
|
|
|
Com. Reg. No.: |
11-140379 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.995.102
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27100MH1985PLC140379 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN09355D |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Cold Rolled, GP/GC, Coated Coils/Sheets and Agro Products. |
|
|
|
|
No. of Employees
: |
620 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Profitability of the company appears to be low. However, networth of
the company is satisfactory. Trade relations are reported as fair. Business is active. Payment are
reported to be usually correct. 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.
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
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.
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-22-22025084)
LOCATIONS
|
Registered / Corporate Office : |
621, Tulsiani
Chambers, 6th Floor,
Nariman Point, Mumbai – 400021, |
|
Tel. No.: |
91-22-22025084 / 22025098 / 22886267 |
|
Fax No.: |
91-22-22025084 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative
Office : |
401, Mahakosh House, |
|
Tel. No.: |
91-731-2518167-69/
2528133/ 2526020/ (Direct) 5066187 |
|
Fax No.: |
91-731-2516714 / 2527250 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Village Sejwaya,
Tehsil Dhar, District Dhar, |
|
Tel. No.: |
91-7292-277277/
277361/ 277612 |
|
Fax No.: |
91-7292-277393 |
|
|
|
|
Branch Office : |
Located at · Agra · Gwalior · Jaipur · Pithampur · Kapadia Mumbai (Agro Division) · Kolkata · Jabalpur · Bareily · Kanpur · Taloja · Secunderabad · Gandhidham · Chennai · Ahmedabad · Tuticorin · Raipur · Bangalore · Faridabad · Hyderabad · Ghaziabad · New Delhi · Ludhiana · Pune ·
Rudrapur |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Santosh Shahra |
|
Designation : |
Chairman and Managing Director (w.e.f. 30.05.2013) |
|
Date of Birth/Age : |
66 Years |
|
Qualification : |
B.E. (Mech.), M.S. (U.S.A.) |
|
Experience : |
42 Years |
|
Date of
Appointment : |
01.07. 1986 |
|
|
|
|
Name : |
Mr. Kailashchandra Shahra |
|
Designation : |
Chairman (upto 30.05.2013) |
|
|
|
|
Name : |
Mr. P. Srikrishna |
|
Designation : |
Whole-time Director |
|
Date of Birth/Age : |
62 Years |
|
|
|
|
Name : |
Mr. Navin Khandelwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Veer Kumar Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajesh Nema |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Paridhi Kasliwal |
|
Designation : |
Company Secretary |
|
|
|
|
Audit Committee : |
· Mr. Navin Khandelwal - Chairman Mr. Santosh Shahra Mr. Rajesh Nema |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4146899 |
9.32 |
|
|
11750868 |
26.41 |
|
|
15897767 |
35.73 |
|
|
|
|
|
|
2555000 |
5.74 |
|
|
1352000 |
3.04 |
|
|
3907000 |
8.78 |
|
Total shareholding of Promoter and Promoter Group (A) |
19804767 |
44.51 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
61300 |
0.14 |
|
|
644498 |
1.45 |
|
|
705798 |
1.59 |
|
|
|
|
|
|
9122788 |
20.50 |
|
|
|
|
|
|
9798470 |
22.02 |
|
|
4016713 |
9.03 |
|
|
1051464 |
2.36 |
|
|
81855 |
0.18 |
|
|
515975 |
1.16 |
|
|
453634 |
1.02 |
|
|
23989435 |
53.91 |
|
Total Public shareholding (B) |
24695233 |
55.49 |
|
Total (A)+(B) |
44500000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
44500000 |
100.00 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Promoter and Promoter Group
|
Name of the
Shareholder |
No. of Shares held |
As a % |
|
Abhadevi Shahra |
1,53,039 |
0.34 |
|
Aditi Shahra |
3,02,744 |
0.68 |
|
Dinesh Shahra |
1,04,000 |
0.23 |
|
Manish Shahra |
8,000 |
0.02 |
|
Mraduladevi Shahra |
25,750 |
0.06 |
|
Nitesh Shahra |
8,000 |
0.02 |
|
Neetadevi Shahra |
12,000 |
0.03 |
|
Navneet Zalani |
200 |
0.00 |
|
Navneet D Zalani (HUF) |
300 |
0.00 |
|
Ruchi Mohan |
1,33,036 |
0.30 |
|
Santosh Kumar Shahra |
2,18,400 |
0.49 |
|
Santosh Kumar Shahra (HUF) |
12,27,387 |
2.76 |
|
Bhavna Goel |
3,35,800 |
0.75 |
|
Ushadevi Shahra |
5,42,550 |
1.22 |
|
Savitridevi Shahra |
32,750 |
0.07 |
|
Sandhya Khandelwal |
12,600 |
0.03 |
|
Suresh Shahra (HUF) |
10,000 |
0.02 |
|
Suresh Shahra |
10,000 |
0.02 |
|
Umesh Shahra |
17,000 |
0.04 |
|
Vishesh Shahra |
9,09,693 |
2.04 |
|
Mahakosh Family Trust |
3,750 |
0.01 |
|
Ankesh Trust |
59,900 |
0.13 |
|
Nimesh Trust |
60,000 |
0.13 |
|
Apl International Private Limited |
29,57,700 |
6.65 |
|
Mahakosh Holding Private Limited |
1,50,000 |
0.34 |
|
Anik Industries Limited |
30,000 |
0.07 |
|
Nsil Infotech Limited |
5,35,900 |
1.20 |
|
Ruchi Acroni Industries Limited |
30,600 |
0.07 |
|
Nutrela Marketing Private Limited |
12,20,000 |
2.74 |
|
Ruchi Infrastructure Limited |
13,71,800 |
3.08 |
|
Ruchi Soya Industries Limited |
8,83,500 |
1.99 |
|
Ruchi Power Corporation Limited |
6,00,000 |
1.35 |
|
Shahra Brothers Private Limited |
2,01,667 |
0.45 |
|
Sarthak Industries Limited |
1,200 |
0.00 |
|
Sarthak Global Limited |
1,67,150 |
0.38 |
|
Vishal Soyamool (Private) Limited |
4,72,800 |
1.06 |
|
Ruchi Integrated Steels (India) Limited |
5,00,000 |
1.12 |
|
NSIL Finance Limited |
5,00,000 |
1.12 |
|
NSIL Power Limited |
5,00,000 |
1.12 |
|
Divine Infracreation and Trading Private Limited |
6,28,551 |
1.41 |
|
Benco Finance and Investments Private Limited |
5,00,000 |
1.12 |
|
Morya Erectors Private Limited |
5,00,000 |
1.12 |
|
Mary Thomas |
3,25,000 |
0.73 |
|
Mathew Kurian |
3,25,000 |
0.73 |
|
Molly Chacko |
3,25,000 |
0.73 |
|
Sharon Marie Mathew |
3,25,000 |
0.73 |
|
Vidhya Maria Thomas |
3,25,000 |
0.73 |
|
Vadakethu Thomas James |
3,25,000 |
0.73 |
|
Anjula Thomas |
3,25,000 |
0.73 |
|
Easaw Thomas |
2,40,000 |
0.54 |
|
Merdale Investment Company Limited |
4,74,160 |
1.07 |
|
Millstone Investment Inc |
8,77,840 |
1.97 |
|
Total |
1,98,04,767 |
44.51 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
belonging to the category Public and holding more than 1% of the total number
of shares
|
Name of the
Shareholder |
No. of Shares held |
Shares as % |
|
|
Ajitabh Constructions Private Limited |
1066200 |
2.40 |
|
|
Chitwan Developers Private Limited |
1066200 |
2.40 |
|
|
Avocado Trading Company Private Limited |
1066200 |
2.40 |
|
|
Aspirant Mercantile Company Private Limited |
735513 |
1.65 |
|
|
Frugal Trading Company Private Limited |
1066200 |
2.40 |
|
|
Frolic Realy Private Limited |
1066058 |
2.40 |
|
|
IFCI Limited |
644098 |
1.45 |
|
|
Shubhamangal Traders Private Limited |
486179 |
1.09 |
|
|
Harsh Hitesh Javeri |
560000 |
1.26 |
|
|
Ruchi Agrotech Private Limited |
568146 |
1.28 |
|
|
Total |
8324794 |
18.71 |
|
Details of Locked-in
Shares
|
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as % of Total No. of Shares |
|
Santosh Shahra |
2,00,000 |
0.45 |
|
Santosh Shahra (HUF) |
2,00,000 |
0.45 |
|
Ushadevi Shahra |
3,00,000 |
0.67 |
|
Vishesh Shahra |
3,00,000 |
0.67 |
|
Bhavna Goel |
2,50,000 |
0.56 |
|
Ruchi Mohan |
1,25,000 |
0.28 |
|
Aditi Shahra |
1,25,000 |
0.28 |
|
Ruchi Power Corporation Limited |
5,00,000 |
1.12 |
|
Ruchi Integrated Steels (India) Limited |
5,00,000 |
1.12 |
|
NSIL Finance Limited |
5,00,000 |
1.12 |
|
NSIL Infotech Limited |
5,00,000 |
1.12 |
|
NSIL Power Limited |
5,00,000 |
1.12 |
|
Divine Infranceation and Trading Private Limited |
5,00,000 |
1.12 |
|
Benco Finance and Investments Private Limited |
5,00,000 |
1.12 |
|
Morya Erectros Private Limited |
5,00,000 |
1.12 |
|
Total |
55,00,000 |
12.36 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Cold Rolled, GP/GC, Coated Coils/Sheets and Agro Products. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
620 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited State Bank of India State Bank of Travancore Bank of Maharashtra United Bank of India Andhra Bank Oriental Bank of Commerce State Bank of Patiala Central Bank of India Punjab National Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
NOTE LONG TERM
BORROWINGS Term loans from Financial Institutions are secured by way of first mortgage of all immovable properties and hypothecation of all the Company’s movables (save and except book debts and stock) including movable machinery, spares and tools both present and future ranking pari-passu inter-se subject to prior charge created/to be created in favour of the banks on specified movable assets for securing borrowing for working capital requirments and personal guarantee of the Managing Director. SHORT TERM BORROWINGS * Loans from Bank for Working Capital are secured by
hypothecation of Company’s entire stocks of raw materials, stock in process,
finished goods, stores and spares, stock in transit, other current assets and
second charge over entire fixed assets of the Company ranking pari-passu
inter-se and personal gurantee of the Managing Director. |
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
Manoj Khatri and Company Chartered Accountants |
|
Address : |
Indore, Madhya Pradesh, India |
|
|
|
|
Cost Auditors : |
Manoj Khatri and Company Cost Accountants |
|
Address : |
Indore, Madhya Pradesh, India |
|
|
|
|
Other related
parties where control exists : |
· Shreeyam Power and Steel Industries Limited NSIL Infotech Limited NSIL Power Limited Shahra Brothers Private Limited Ruchi Integrated Steels (India) Limited Ruchi Power Corporation Limited NSIL Exports Limited Shri Mahadeo Shahra Sukrat Trust NSIL Finance Limited Shriyam Industries Private Limited Nutrela Marketing Private Limited Shahra Estate Private Limited Divine Infracreation and Trading Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,45,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 445.000 Millions |
|
55,50,000 |
4% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs. 555.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,45,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 445.000 Millions |
|
55,01,022 |
4% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs. 550.102 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 995.102
Millions |
The details of Shareholders holding more than 5% Shares :
|
Class of Shares /Name of Shareholder |
31.03.2013 |
|
|
No. of Shares |
% held |
|
|
Equity Shares |
|
|
|
APL International Private Limited |
29,57,700 |
6.65 |
|
Class of Shares /Name of Shareholder |
31.03.2013 |
|
|
No. of Shares |
% held |
|
|
4% Redeemable Preference Shares |
|
|
|
Trade Overseas Limited |
21,66,283 |
39.38 |
|
Arab Asia Trading Inc. |
28,59,739 |
51.99 |
Reconciliation of Number of Shares :
|
Particulars |
31.03.2013 |
|
|
No. of Shares |
Rs. In Millions |
|
|
Equity Shares |
|
|
|
Shares at the beginning of the year |
4,45,00,000 |
445.000 |
|
Add - Shares issued during the year |
-- |
-- |
|
Shares at the end of the year |
4,45,00,000 |
445.000 |
|
|
|
|
|
4% Redeemable Preference Shares |
|
|
|
Shares at the beginning of the year |
55,01,022 |
550.102 |
|
Add - Shares issued during the year |
-- |
-- |
|
Shares at the end of the year |
55,01,022 |
550.102 |
Rights,
preferences and restrictions attached to shares :
The Company has issued
Equity shares with Voting rights only of Face value of Rs 10 each and each
share carries right to one vote. The Company issued 4% Cumulative Redeemable
Preference shares of Face value of Rs 100 each. These shares are redeemable
within the statutory permissible time period as per the terms of the issue.
Such shares carries prior right to receive dividend over equity share holders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
995.102 |
995.102 |
995.102 |
|
(b) Reserves & Surplus |
2058.111 |
1794.743 |
1532.993 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3053.213 |
2789.845 |
2528.095 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
530.276 |
831.891 |
881.612 |
|
(b) Deferred tax liabilities (Net) |
321.788 |
317.790 |
333.688 |
|
(c) Other long term liabilities |
177.951 |
175.535 |
58.042 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
1030.015 |
1325.216 |
1273.342 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2126.332 |
1795.281 |
2101.972 |
|
(b) Trade payables |
5683.960 |
5644.952 |
4665.943 |
|
(c) Other current
liabilities |
481.293 |
535.013 |
569.803 |
|
(d) Short-term provisions |
74.692 |
50.980 |
59.355 |
|
Total Current Liabilities (4) |
8366.277 |
8026.226 |
7397.073 |
|
|
|
|
|
|
TOTAL |
12449.505 |
12141.287 |
11198.510 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2206.703 |
1789.953 |
1888.437 |
|
(ii) Intangible Assets |
7.070 |
3.066 |
1.139 |
|
(iii) Capital
work-in-progress |
11.280 |
480.021 |
122.145 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
27.940 |
27.940 |
27.940 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
25.418 |
12.464 |
5.551 |
|
Total Non-Current Assets |
2278.411 |
2313.444 |
2045.212 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
4033.677 |
5128.619 |
4789.992 |
|
(c) Trade receivables |
3985.951 |
3374.803 |
3137.639 |
|
(d) Cash and cash equivalents |
937.595 |
592.389 |
600.121 |
|
(e) Short-term loans and
advances |
1201.042 |
698.299 |
597.315 |
|
(f) Other current assets |
12.829 |
33.733 |
28.231 |
|
Total Current Assets |
10171.094 |
9827.843 |
9153.298 |
|
|
|
|
|
|
TOTAL |
12449.505 |
12141.287 |
11198.510 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
34843.502 |
27849.003 |
25402.403 |
|
|
|
Other Income |
0.469 |
2.401 |
73.790 |
|
|
|
TOTAL (A) |
34843.971 |
27851.404 |
25476.193 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials consumed |
14067.255 |
13919.803 |
12891.708 |
|
|
|
Purchases of Stock-in-Trade |
16730.243 |
10114.849 |
10111.730 |
|
|
|
Employee Benefit Expenses |
361.210 |
298.003 |
276.469 |
|
|
|
Other Expenses |
2087.154 |
1759.896 |
1465.143 |
|
|
|
(Increase)/Decrease in Finished Goods, Work in Process and
Stock-in-Trade |
(89.605) |
215.110 |
(617.720) |
|
|
|
TOTAL (B) |
33156.257 |
26307.661 |
24127.330 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1687.714 |
1543.743 |
1348.863 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1125.660 |
1027.801 |
776.878 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
562.054 |
515.942 |
571.985 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
191.538 |
175.361 |
178.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
370.516 |
340.581 |
393.722 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
81.575 |
53.258 |
71.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
288.941 |
287.323 |
322.404 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1073.039 |
811.290 |
514.630 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend on Preference Shares |
22.004 |
22.004 |
22.004 |
|
|
|
Tax on Dividend |
3.570 |
3.570 |
3.740 |
|
|
BALANCE CARRIED
TO THE B/S |
1336.406 |
1073.039 |
811.290 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export on F.O.B. Value |
5726.410 |
3970.599 |
4296.397 |
|
|
TOTAL EARNINGS |
5726.410 |
3970.599 |
4296.397 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
597.373 |
1970.073 |
2341.667 |
|
|
|
Capital Goods and Consumables |
19.983 |
174.773 |
9.629 |
|
|
|
Traded Goods |
2589.611 |
6177.619 |
3221.418 |
|
|
TOTAL IMPORTS |
3206.967 |
8322.465 |
5572.714 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.92 |
5.88 |
9.06 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Type |
|
|
1st
Quarter |
|
Net Sales |
|
|
7983.300 |
|
Total Expenditure |
|
|
7556.000 |
|
PBIDT (Excl OI) |
|
|
427.300 |
|
Other Income |
|
|
0.100 |
|
Operating Profit |
|
|
427.400 |
|
Interest |
|
|
276.900 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
150.500 |
|
Depreciation |
|
|
51.200 |
|
Profit Before Tax |
|
|
99.300 |
|
Tax |
|
|
25.700 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
73.600 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
73.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.83
|
0.19 |
1.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.06
|
1.22 |
1.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.99
|
2.93 |
3.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.12 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.87
|
0.94 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.22 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Installment due within one year |
274.237 |
274.237 |
264.754 |
|
|
|
|
|
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10265746 |
09/07/2011 * |
360,000,000.00 |
IDBI BANK LTD. |
SPECIALISED CORPORATE BRANCH, UPPER GROUND FLOOR, CAPTAIN C.S. NAYUDU ARCADE, 10/2 OLD PALASIA, INDORE - 452001, MADHYA PRADESH, INDIA |
B17631581 |
|
2 |
10260480 |
06/12/2010 |
2,260,000,000.00 |
ANDHRA BANK |
335, JAWAHAR MARG, INDORE - 452002, MADHYA PRADESH, INDIA |
B03123460 |
|
3 |
10235591 |
09/07/2011 * |
84,500,000.00 |
IDBI BANK LTD |
SPECIALISED CORPORATE BRANCH, UPPER GROUND FLOOR, CAPTAIN C.S. NAYUDU ARCADE, 10/2 OLD PALASIA, INDORE - 452001, MADHYA PRADESH, INDIA |
B19407071 |
|
4 |
10218941 |
12/04/2010 |
500,000,000.00 |
STATE BANK OF PATIALA |
MID CORPORATE BRANCH, ORBIT MALL, INDORE - 452001, MADHYA |
A84709344 |
|
5 |
10213135 |
25/02/2010 |
220,000,000.00 |
CENTRAL BANK OF INDIA |
PHASE - I, PALIKA PLAZA, SECOND FLOOR, M.T.H COMPOUND, INDORE - 452007, MADHYA PRADESH, INDIA |
A82960774 |
|
6 |
10171607 |
09/07/2011 * |
300,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, A.B. ROAD (NEAR G.P.O),, INDORE - 452001, MADHYA PRADESH, INDIA |
B18175885 |
|
7 |
10095377 |
15/03/2008 |
100,000,000.00 |
STATE BANK OF INDORE |
NAVLAKHA BRANCH, INDORE - 452001, MADHYA PRADESH, |
A35503945 |
|
8 |
10095635 |
14/03/2008 |
500,000,000.00 |
STATE BANK OF TRAVANCORE |
INDIRA COMPLEX, NAVLAKHA, A.B. ROAD, INDORE - 452001, MADHYA PRADESH, INDIA |
A35352947 |
|
9 |
10082001 |
14/12/2007 |
150,000,000.00 |
INDUSIND BANK LTD. |
2401 GEN THIMMAYYA ROAD CANTONMENT, PUNE - 411001, MAHARASHTRA, INDIA |
A29739737 |
|
10 |
10080268 |
05/11/2007 |
2,140,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, A.B. ROAD (NEAR G.P.O.), INDORE - 452001, MADHYA PRADESH, INDIA |
A28814762 |
|
11 |
10066703 |
31/07/2007 |
100,000,000.00 |
STATE BANK OF SAURASHTRA |
SILVER MALL, 8-A, R.N.T. MARG, INDORE - 452001, MADHYA PRADESH, INDIA |
A22461859 |
|
12 |
10047991 |
09/07/2011 * |
150,000,000.00 |
STATE BANK OF HYDERABAD |
90-91, UDAPURA, JAWAHAR MARG, INDORE - 452002, MADHYA PRADESH, INDIA |
B19519792 |
|
13 |
10049891 |
26/03/2007 |
40,000,000.00 |
STATE BANK OF SAURASHTRA |
SILVER MALL, 8-A, R. N. T. MARG, INDORE - 452001, MADHYA PRADESH, INDIA |
A14539084 |
|
14 |
10044766 |
09/07/2011 * |
150,000,000.00 |
ICICI BANK |
MALAV PARISAR BRANCH,, 4, CHHOTI KHAJRANI, A.B. ROAD, INDORE - 452001, MADHYA PRADESH, INDIA |
B19618032 |
|
15 |
10039045 |
09/07/2011 * |
200,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B19659770 |
|
16 |
10033586 |
26/12/2006 |
47,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
6, KANTI MENSION, MURAI MOHALLA, SANYOGITAGANJ, |
A09204777 |
|
17 |
10036885 |
19/12/2006 |
50,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, NEAR G.P.O., A.B. ROAD, INDORE - 452001, MADHYA PRADESH, INDIA |
A10182772 |
|
18 |
10010321 |
12/07/2006 |
250,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A02447548 |
|
19 |
80052469 |
28/11/2005 |
100,000,000.00 |
INDUSIND BANK LIMITED |
15, A.B. ROAD, INDUSTRY HOUSE, INDORE - 452001, MADHYA PRADESH, INDIA |
- |
|
20 |
80052479 |
05/04/2005 |
912,500,000.00 |
ANDHRA BANK |
335, JAWAHAR MARG, INDORE - 452001, MADHYA PRADESH, INDIA |
- |
|
21 |
80052478 |
23/03/2005 |
872,500,000.00 |
STATE BANK OF PATIALA |
20, USHA NAGAR EXTN, RANJEET HANUMAN MANDIR ROAD , INDORE - 452009, MADHYA PRADESH, INDIA |
- |
|
22 |
80052477 |
25/02/2005 |
1,000,000,000.00 |
STATE BANK OF INDIA |
A.B. ROAD, INDORE - 452001, MADHYA PRADESH, INDIA |
- |
|
23 |
80026360 |
09/07/2011 * |
95,000,000.00 |
IDBI BANK LTD. |
SPECIALISED CORPORATE BRANCH, UPPER GROUND FLOOR, |
B19342443 |
|
24 |
80052476 |
09/07/2011 * |
100,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LTD. |
HDFC HOUSE, 10-A/1,, M.G. ROAD, INDORE - 452001, MADHYA PRADESH, INDIA |
B19242791 |
|
25 |
80052474 |
01/07/2004 |
790,000,000.00 |
STATE BANK OF INDIA |
I.F.B., A.B. ROAD, INDORE - 452001, MADHYA PRADESH |
- |
|
26 |
80052473 |
09/07/2011 * |
250,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B19638493 |
|
27 |
80052471 |
09/07/2011 * |
200,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, A.B. ROAD (NEAR G.P.O), INDORE - 452001, MADHYA PRADESH, INDIA |
B18962357 |
|
28 |
80052470 |
15/10/2003 |
150,000,000.00 |
LIFE INSURANCE CORPORATION OF INDIA |
YOGAKSHEM, JEEVA BIMA MARG, MUMBAI - |
- |
|
29 |
80004618 |
04/03/2013 * |
12,744,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, A.B. ROAD, NEAR G.P.O., INDORE - 452001, MADHYA PRADESH, INDIA |
B71505754 |
|
30 |
80065384 |
17/02/1997 * |
2,500,000.00 |
THE INDUSTRIAL FINANCE CORPORATION OF INDIA LIMITE |
BANK OF BARODA BLDG,, 16 SANSAD MARG, NEW DELHI - 110001, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working Capital Loans from Banks |
539.775 |
674.500 |
|
Total |
539.775 |
674.500 |
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENTS
India’s rank in the
world order of steel production remained unchanged at fourth slot with an
output of 76.7 million tonnes, despite logging the highest growth of 4.2% among
major producing nations in 2012. There was no change in the top three steel
producing nations with China, Japan and the US retaining their slots in the
respective order in 2012. India was world’s fourth largest steel maker in 2011
and 2010 as well with a total production of 73.6 MT steel and 69 MT
respectively.
It had clinched
the third spot in 2009, but the US grabbed the slot since 2010. India’s growth
in steel output was, however, the highest at 4.3% in 2012 among top five major
steel producing nations.
Per Capita steel
consumption which is a better indicator than absolute steel production numbers,
however remained low in the country. As against world average of 215 Kg , In
India , it remained close to 60 Kg . This shows tremendous growth opportunity
for Indian Steel consumption.
OUTLOOK
Global steel
market developments are likely to remain generally positive but with lower
growth due to slowing down of Chinese and Indian economy. However positive
signals are coming from USA and this would help bring some balance in demand
and supply.
The outlook for
Agro trade business is also expected to be good due to improved rural economy
and also due to good monsoons last year and predictions for current year.
DISCUSSION ON
FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE
The Company’s top
line performance was better than last year. The Company turnover increased by
24% to Rs. 3618.20 Millions as against Rs. 2911.70 Millions for the
corresponding previous year.
The Company has
achieved export turnover of Rs. 6518.000 Millions as compared to Rs. 5072.300
Millions for the corresponding previous year, registering growth of 28%.
The EBIDTA for the
year was higher by 9% to Rs. 1687.700 Millions as compared to Rs. 1543.700
Millionsin the previous year. The Profit before Tax was Rs. 370.500 Millions
(Rs. 340.600 Millions in F.Y 2011-12) and Profit after tax was Rs. 288.900
Millions (Rs. 28.73 in F.Y 2011-12).
The Directors are confident to improve this performance in the current
Financial Year.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2013
(Rs. In Millions)
|
PART-I |
||
|
|
Particulars |
Quarter Ended |
|
|
|
30.06.2013 (Unaudited) |
|
1 |
Income from operations |
|
|
|
(a) i) Gross sales /income from operations |
8387.300 |
|
|
ii) Less: Excise duty |
409.400 |
|
|
Net sales/income from operations (net of excise duty) sub total |
7977.900 |
|
|
(b) other operating income |
5.400 |
|
|
Total income from operations (net) |
7983.300 |
|
2 |
Expenses |
|
|
|
(a) Cost of materials consumed |
3326.400 |
|
|
(b) Purchases of stock-in-trade |
3245.700 |
|
|
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
465.700 |
|
|
Id) Employee benefits expense |
89.300 |
|
|
(e) Depreciation and amortisation expense |
51.200 |
|
|
(0 Other expenses |
428.900 |
|
|
Total expenses |
7607.200 |
|
3 |
Profit / (Loss) from operations before other income, finance costs and exceptional items (1-2) |
376.100 |
|
4 |
Oilier Income |
0.100 |
|
5 |
Profit / (Loss) from ordinary activities before finance costs and exceptional items (3 + 4) |
376.200 |
|
6 |
Finance costs |
276.900 |
|
7 |
Profit / (Loss) from ordinary activities after finance costs hut before exceptional items (5 - 6) |
99.300 |
|
8 |
Exceptional items |
0.000 |
|
9 |
Profit / (Loss) from ordinary activities before tax (7 + 8) |
99.300 |
|
10 |
Tax expense |
|
|
|
alCunent tax (net of Mat Credit) |
28.900 |
|
|
h) Income tax paid for earlier years |
0.000 |
|
|
c) Deferred tax |
(3.200) |
|
|
sub total of 10 (a+b+c) |
25.700 |
|
11 |
Net Profit / (Loss) from ordinary activities after tax (9-10) |
73.600 |
|
12 |
Extraordinary items |
0.000 |
|
13 |
Net Profit / (Loss) for the period (11-12) |
73.600 |
|
14 |
Share of profit / (loss) of associates* |
0.000 |
|
15 |
Proposed divedend on preference shares (including dividend tax) |
0.000 |
|
16 |
Minority interest * |
0.000 |
|
17 |
Net Profit / (Loss) after taxes, minority interest and share of profit / (loss) of associates (13 -14 -15- 16) |
73.600 |
|
18 |
Paid-up equity share capital (Face Value of the Share Rs. 10/- each) |
445.000 |
|
19 |
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
0.000 |
|
20 i |
Earnings per share (before extraordinary items) |
|
|
|
(of Rs. 10 /-each) (not annualised): |
|
|
|
(a) Basic |
1.65 |
|
|
(b) Diluted |
1.65 |
|
20 ii |
Earnings per share (after extraordinary' items) |
|
|
|
(of Rs. 10 /-each) (not annualised): |
|
|
|
(a) Basic |
1.65 |
|
|
(b) Diluted |
1.65 |
|
PART-II |
Quarter Ended 30.06.2013 |
|
|
|
Particulars |
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
1 |
Public shareholding |
|
|
|
- Number of shares |
24,695,233 |
|
|
- Percentage of
shareholding |
55.49% |
|
2 |
Promoters and Promoter
Group Shareholding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of shares |
- |
|
|
- Percentage of shares
(as a % of the total shareholding of promoter and promoter group) |
|
|
|
- Percentage of shares (as
a % of the total share capital of the company) |
|
|
|
b) Non - encumbered |
|
|
|
- Number of shares |
19,804,767 |
|
|
- Percentage of shares
(as a % of the total shareholding of the Promoter and Promoter group) |
100% |
|
|
- Percentage of shares (as
a % of the total share capital of the company |
|
|
|
|
44.51% |
|
|
Particulars |
Quarter ended 30.06.2013 |
|
B |
INVESTOR COMPLAINTS (Nos.) |
|
|
|
- Pending
at the beginning of the quarter |
- |
|
|
- Received
during the quarter |
Nil |
|
|
- Disposed
of during the quarter |
Nil |
|
|
-
Remaining unresolved at the end of the quarter |
- |
SEGMENT-WISE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
S. No. |
Particulars |
QUARTER ENDED |
|
|
30.06.2013 |
|
|
1 |
Segment Revenue |
|
|
a) |
Manufacturing (including
other operation income) |
4786.0 |
|
b) |
Traded goods |
3197.3 |
|
|
Total |
7983.3 |
|
|
|
|
|
2 |
Segment Results |
|
|
|
Profit/(Loss) before tax
and interest from each segment |
|
|
a) |
Manufacturing |
345.800 |
|
b) |
Traded goods |
67.100 |
|
|
Total |
412.900 |
|
|
Add i) Other Income |
0.100 |
|
|
Total |
413.000 |
|
|
Less: i) Interest |
276.900 |
|
|
ii) Other
unallocable expenditure |
36.800 |
|
|
Total Profit before tax |
99.300 |
|
|
|
|
|
3 |
Capital Employed |
|
|
|
(Segment Assets - Segment
Liabilities) |
|
|
|
-Manufacturing |
5467.000 |
|
|
-Traded goods |
457.900 |
|
|
-Unallocable |
49.300 |
|
|
Total |
5974.200 |
Notes:
1 The above results were reviewed by Audit Committee and approved by Board of Directors at its meeting held on 30th July, 2013.
2 The results have been subjected to limited Review by Statutory Auditors of the Company.
3 Previous year / period figures have been regrouped/ rearranged wherever considered necessary.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
a) Outstanding Bank Guarantees |
193.759 |
120.826 |
|
b) Disputed Liabilities not acknowledged as debts |
21.715 |
21.778 |
|
c) Estimated amount of contracts remaining to be Executed on Capital Account (net of advance) |
5.957 |
5.288 |
FIXED ASSETS
v
Tangible
Assets
Free
Hold Land
Lease
Land
Buildings
Plant
and Machinery
Furniture
and Fixtures
Office
Equipments
Computer
Vehicles
v
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.61.58 |
|
|
1 |
Rs.98.51 |
|
Euro |
1 |
Rs.83.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.