MIRA
INFORM REPORT
|
Report Date : |
12.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNI DERITEND LIMITED |
|
|
|
|
Formerly Known
As : |
UNIFERRO INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
Liberty Building , Sir Vithaldas
Thackersey Marg, New
Marine Lines, Mumbai – 400020, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.09.1977 |
|
|
|
|
Com. Reg. No.: |
11-019857 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 17.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1977PLC019857 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEU05358D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0028K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of investment castings (through Lost Wax Process). |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2823000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Universal Ferro and Allied Chemicals Limited”.
It is an established company having satisfactory track record. The company has seen a better increase in its sales turnover during
2012. Financial position appears to be decent. Trade relations are fair. Business is active. Payment terms are reported
as usually correct. In view of strong holdings, the company can be considered normal for
business dealings at usaual trade terms and
condition. |
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
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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A- = Long term loans |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
January 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A2+ =Short term non fund based |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
January 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 DENIED BY
|
Name : |
Mr. S.J. Singh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66890112 |
|
Date : |
10.09.2013 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Liberty Building , Sir Vithaldas Thackersey Marg, New Marine
Lines, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-20256823/22066231/22066261 |
|
Fax No.: |
91-22-22082113 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Central
Administrative Office : |
C-117/118, Kailash Vaibhav Complex, Veer Savarkar Road, Vikhroli West,
Mumbai – 400079, India |
|
Tel. No.: |
91-22-66890112 |
|
Fax No.: |
91-22-6689-0100 |
|
E-Mail : |
|
|
|
|
|
Maneck Nagar Plant 1 |
Maneck Nagar, Tumsar, District Bhandara – 441912, Maharashtra.
India |
|
Tel. No.: |
91-7183-223-612/232186 |
|
Fax No.: |
91-7183-232-693 |
|
E-Mail : |
|
|
|
|
|
Nasik Plant 2 |
At and Post Village Shinde, Nasik – 422101, Maharashtra,
India |
|
Tel. No.: |
91-253-280-2165/1444/1555/653-3572/329-7262 |
|
Fax No.: |
91-2532-801-455 |
|
E-Mail : |
|
|
|
|
|
Dharwad Plant 3 : |
Plot No. 582-A, Belur Industrial Area, Dharwad – 580011, Karnataka, India |
|
Tel. No.: |
91-836-2971308/1309 |
|
E-Mail : |
|
|
|
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|
Factory 4 : |
Located At: Thane, Maharashtra,
India |
|
|
|
|
Wind Power Plant : |
Located At: Varekarwadi, Pune, India |
DIRECTORS
As on 12.09.2012
|
Name : |
Mr. Neterwala
Dhunjishaw Feroze |
|
Designation : |
Whole Time Director |
|
Address : |
16D Il Palazzo, Little
Gibbs Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1952 |
|
Date of Appointment : |
24.03.1983 |
|
Election Commission Identity Card No |
MT/04/024/045290 |
|
DIN No.: |
00008332 |
|
|
|
|
Name : |
Mr. Fondekar Krishna Mohan |
|
Designation : |
Director |
|
Address : |
B-505
Silver Arch, Off 1st Pokhran Lane, Cadbury Factory,
Thane - 400606, Maharashtra,
India |
|
Date of Birth/Age : |
23.03.1945 |
|
Date of Appointment : |
06.01.1991 |
|
Election Commission Identity Card No |
MT/01/053/0423283 |
|
DIN No.: |
01089689 |
|
|
|
|
Name : |
Mr. Malik
Ramdittamall Charanjitlal |
|
Designation : |
Director |
|
Address : |
8B3 Mousumi
Co- Operative Housing Society, 15B Ballygunj
Circular Road Kolkotta - 700019, West Bengal, India
|
|
Date of Birth/Age : |
13.05.1930 |
|
Date of Appointment : |
19.09.1984 |
|
Election Commission Identity Card No |
MT/04/019/261208 |
|
DIN No.: |
00472197 |
|
|
|
|
Name : |
Mr. Prasad Ramakrishna |
|
Designation : |
Director |
|
Address : |
Hanumanthu 6E Navroze Apartment, , Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
11.01.1934 |
|
Date of Appointment : |
26.06.2001 |
|
Election Commission Identity Card No |
MT/04/024/210075 |
|
DIN No.: |
00133853 |
|
|
|
|
Name : |
Mr. Elavia Manchersa Keki |
|
Designation : |
Director |
|
Address : |
2A Anand Bhavan, 36th Road, Bandra West, Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1946 |
|
Date of Appointment : |
09.12.2002 |
|
Election Commission Identity Card No |
MT/08/036/0322815 |
|
DIN No.: |
00003940 |
|
|
|
|
Name : |
Mr. Vazifdar Jamshed Navroze |
|
Designation : |
Director |
|
Address : |
17 Beach View,
93 Bhulabhai Desai Road, Mumbai, Maharashtra 400026 |
|
Date of Birth/Age : |
08.11.1948 |
|
Date of Appointment : |
24.11.2005 |
|
DIN No.: |
01240467 |
|
|
|
|
Name : |
Mr. Thakore Madhukant Shobhan |
|
Designation : |
Director |
|
Address : |
509 Cumbala Crest, 42-A Pedder
Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
08.11.1948 |
|
Date of Appointment : |
24.11.2005 |
|
DIN No.: |
00031788 |
|
|
|
|
Name : |
Mr. Pisupati
Gurunadam |
|
Designation : |
Director |
|
Address : |
Subrahmanyam 82, Jasmine Co- Operative Housing Society Marg, Bandra (East) Mumbai –
400051, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1940 |
|
Date of Appointment : |
13.12.2007 |
|
DIN No.: |
01069045 |
|
|
|
|
Name : |
Mr. Neterwala Feroze Anosh |
|
Designation : |
Executive Director |
|
Address : |
16D Il
Palazzo, Little Gibbs Road, Mumbai
- 400006, Maharashtra, India |
|
Date of Birth/Age : |
05.07.1985 |
|
Date of Appointment : |
25.03.2010 |
|
DIN No.: |
01418744 |
KEY EXECUTIVES
|
Name : |
Mr. S.J. Singh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 12.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Universal Ferro and Allied Chemicals Limited, India |
|
1749982 |
|
Neterwala Maneckji Dhunjishaw Jointly: Universal Ferro and
Allied Chemicals Limited, India |
|
3 |
|
Neterwala Dhunjishaw Feroze Jointly: Universal Ferro and Allied
Chemicals Limited, India |
|
3 |
|
Malik Lal Charanjit Jointly: Universal Ferro and
Allied Chemicals Limited, India |
|
3 |
|
Motawara Pirozshaw Sam Jointly: Universal Ferro and
Allied Chemicals Limited, India |
|
3 |
|
Mehta Burjor Russy
Jointly: Universal Ferro and
Allied Chemicals Limited, India |
|
3 |
|
Fondekar Krishna Mohan Jointly: Universal Ferro and
Allied Chemicals Limited, India |
|
3 |
|
Total |
|
1750000 |
Equity Share Break up (Percentage of Total Equity)
As on 12.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of investment castings (through Lost Wax Process). |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
Axis Bank Limited, Dheeraj Baug, Hariniwas Circle, Thane
West, Thane – 400602, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
Terms and
conditions of Long Term Borrowings 1.
Term Loan has been obtained from Axis Bank and Zoroastrian
Co-op Bank secured by First charge on entire movable fixed assets of the
company at Nashik, Thane and Maneck
Nagar plants, secured by extension of first charge
on Land and Building at Nashik plant and further
secured by pari passu
charge on the entire current assets of the company. The amount is to be
repaid in April 2013. The weighted average Interest charged is at 14.30% p.a.
, whereas the Zoroastrian Bank Loan is being charged at weighted average
interest rate of 11.17 % Rs. 0.040 Millions 2.
Term Loan pertaining to Dharwad
Project is funded under 'Multiple Banking Agreement between Axis Bank and
Zoroastrian Bank and having charge over the asset as per their funding i.e.
Axis 68.75% and Zoroastrian Bank 31.25% of total funding of Rs.160.000 Millions
made by both the banks. The debt is secured under Primary charge over Fixed
assets of the Company so situated at Dharwad,
Karnataka on pari passu
basis. Further to this, there is first charge on the entire current assets
over the company including stock, book debts, present and future by Axis
Bank; and second charge on entire movable fixed assets and Land and Building
at Nasik Plant by Zoroastrian Bank, instead of
extension of first pari passu
charge with Axis Bank. The repayment of Axis Bank will begin in February
2013, being 14 months from the date of disbursement, and it would be fully
repaid in 60 monthly installments in January 2018. Repayment of Zoroastrian
Bank is also to be made in 60 monthly installments beginning from November,
2012 to October, 2017. The interest charged by both the banks are in
agreement at 12.25%. Rs, 56.576 millions 3.
Vehicle Loan: Term Loan includes Hypothecation of
vehicle for which loan is undertaken, Loan from Zoroastrian Bank are subject
to 48 equidated monthly installments repayment at
10.25% p.a. and 2nd Loan from Zoroastrian Loan over 60 equidated
installment at 10.25% p.a., and HDFC Loan is payable in 60 monthly
installments at the rate of 12.98% p.a. interest. 4.
Foreign Currency Term Loan - Term Loan has been
provided by Axis Bank in 4 tranches of which 2 tranches have been disbursed before the year ended March
31, 2012. Primarily against pledge of 100% of share holding in Uni Tritech Limited. Extension
of first charge on the entire securities (movable and immovable fixed assets
and current assets) provided by the company for existing credit facilities.
-Exclusive first charge on the company's factory land and building at Maneck Nagar; exclusive first
charge on the company's factory land in Dharwad;
Negative Lien on the Company's land and buildings located at Thane along with
an undertaking from the company to mortgage the property to the Bank as
security for the credit facilities from as soon as the conveyance deed is
executed by the Company. The Loan is repayable in 48 equal monthly installments starting after
one year from the date of first disbursement, for each Term Loan per Tranch, whereby repayment of Tranch
1 has started from March 2012 and final installment would be due in February
2016 and repayment for tranch 2 will be made from
the period September 2012 to October 2016. The rate of Interest payable on
this Facility is 6 months LIBOR plus 650 basis points on Tranch
1 Loan and 6 months LIBOR plus 625 basis point for Tranch
2 Loan. |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Delloite Hankins and Sons Chartered Accountants |
|
Address : |
Deloitte Haskins and Sells, 12, Dr. Annie Besant
Road, Opposite Shivsagar Estate, Worli, Mumbai – 400018, Maharashtra,
India |
|
|
|
|
Internal
Auditor: |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Goa, India |
|
|
|
|
Holding company
: |
·
Universal Ferro and Allied Chemicals Limited,
India CIN No.: U13200MH1956PLC009898 |
|
|
|
|
Subsidiary
company : |
·
Uni Tritech
Limited, U.K. |
|
|
|
|
Joint venture : |
·
Uni VTL Precision Private Limited, India CIN No.: U29253MH2008PTC179766 |
|
|
·
|
|
Associate : |
·
Uni-Abex Alloy Products
Limited, India CIN No.: L27100MH1972PLC015950 ·
Uni Klinger Limited, India CIN No.: U31909MH1983PLC029134 ·
Oil Field Instrumentation (India) Private
Limited, India CIN No.: U11201MH2000PTC12996 ·
Netel (India) Limited, India CIN no.: U74999MH2003PLC142228 ·
Neterson Technologies
Private Limited CIN No.: U24246MH1946PTC005194 ·
Neterwala Consulting And
Corporate Services Limited CIN No.:
U74140MH2007PLC174969 ·
Manoir Petro India Limited, India CIN No.: U11101MH2008PLC181048 ·
SDN Company |
CAPITAL STRUCTURE
As on 12.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000 Millions |
|
100000 |
Preference Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
Rs. 10/- each |
Rs. 17.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
17.500 |
17.500 |
|
(b) Reserves & Surplus |
|
688.327 |
627.678 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
705.827 |
645.178 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
321.895 |
247.968 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
12.350 |
3.461 |
|
(d) long-term provisions |
|
3.453 |
3.987 |
|
Total Non-current Liabilities (3) |
|
337.698 |
255.416 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
172.056 |
117.749 |
|
(b) Trade payables |
|
208.093 |
141.117 |
|
(c) Other current
liabilities |
|
133.555 |
74.628 |
|
(d) Short-term provisions |
|
26.401 |
22.540 |
|
Total Current Liabilities (4) |
|
540.105 |
356.034 |
|
|
|
|
|
|
TOTAL |
|
1583.630 |
1256.628 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
147.766 |
162.478 |
|
(ii) Intangible Assets |
|
6.253 |
8.721 |
|
(iii) Capital
work-in-progress |
|
91.884 |
13.300 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
447.912 |
321.909 |
|
(c) Deferred tax assets (net) |
|
32.154 |
29.507 |
|
(d) Long-term Loan and Advances |
|
41.959 |
29.557 |
|
(e) Other Non-current assets |
|
10.464 |
2.157 |
|
Total Non-Current Assets |
|
778.392 |
567.629 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
32.500 |
35.000 |
|
(b) Inventories |
|
284.084 |
219.980 |
|
(c) Trade receivables |
|
310.315 |
274.442 |
|
(d) Cash and cash
equivalents |
|
104.157 |
114.322 |
|
(e) Short-term loans and
advances |
|
53.929 |
34.913 |
|
(f) Other current assets |
|
20.253 |
10.342 |
|
Total Current Assets |
|
805.238 |
688.999 |
|
|
|
|
|
|
TOTAL |
|
1583.630 |
1256.628 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
17.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
557.965 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
575.465 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
173.571 |
|
|
2] Unsecured Loans |
|
|
104.516 |
|
|
TOTAL BORROWING |
|
|
278.087 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
853.552 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
177.213 |
|
|
Capital work-in-progress |
|
|
3.895 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
109.679 |
|
|
DEFERRED TAX ASSETS |
|
|
31.170 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
160.802 |
|
|
Sundry Debtors |
|
|
245.745 |
|
|
Cash & Bank Balances |
|
|
258.086 |
|
|
Other Current Assets |
|
|
9.859 |
|
|
Loans & Advances |
|
|
44.031 |
|
Total
Current Assets |
|
|
718.523 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
99.796 |
|
|
Other Current Liabilities |
|
|
59.195 |
|
|
Provisions |
|
|
27.937 |
|
Total
Current Liabilities |
|
|
186.928 |
|
|
Net Current Assets |
|
|
531.595 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
853.552 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1195.495 |
957.602 |
717.347 |
|
|
|
Other Income |
28.241 |
21.748 |
45.850 |
|
|
|
TOTAL |
1223.736 |
979.350 |
763.197 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of
materials consumed |
622.988 |
453.139 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(42.847) |
(31.017) |
|
|
|
|
Employee benefit
expense |
162.222 |
137.954 |
|
|
|
|
Other expenses |
309.364 |
255.421 |
|
|
|
|
TOTAL |
1051.727 |
815.497 |
638.194 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
172.009 |
163.853 |
125.003 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
45.908 |
21.506 |
11.663 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
126.101 |
142.347 |
113.340 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
29.989 |
31.550 |
36.427 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEMS AND TAX |
96.112 |
110.797 |
76.913 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
0.000 |
0.000 |
63.720 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
96.112 |
110.797 |
13.193 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
32.413 |
38.033 |
6.869 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
96.112 |
110.797 |
13.193 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
185.988 |
119.974 |
120.422 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
3.200 |
3.700 |
0.650 |
|
|
|
Dividend |
2.625 |
2.625 |
5.250 |
|
|
|
Tax on Dividend |
0.426 |
0.425 |
0.872 |
|
|
BALANCE CARRIED
TO THE B/S |
243.436 |
185.988 |
119.974 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
213.419 |
194.295 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.40 |
41.58 |
3.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
7.85
|
11.31 |
1.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.04
|
11.57 |
1.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.21
|
15.37 |
1.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.17 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.21
|
0.12 |
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
1.93 |
3.84 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
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 |
Yes |
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL:
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current Maturity
of Long Term Borrowings |
80.267 |
32.044 |
NA |
|
Total |
80.267 |
32.044 |
NA |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs.
In Millions |
31.03.2011 Rs.
In Millions |
|
Long Term Borrowings |
|
|
|
Deferred sales tax loan |
103.674 |
103.674 |
|
Total |
103.674 |
103.674 |
Note:
Deferred sales tax
liabilities - The Government of Maharashtra vide
Government notification no. NCP - 1097/CR-59/Energy-7 has allowed the company
to defer the sales tax liability under wind Power Incentive Scheme 1998 for a
period of six years subject to a maximum of Rs.
19.831 for each financial year. The liability deferred for each year is payable
from the eleventh year in five equal annual installments. In the current year,
there is no additional deferral of sales tax liability since the period of six
years is over. This loan has not become due for repayment yet. The repayment
will start from 2013-14.
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10297668
|
04/02/2013
* |
85,000,000.00
|
THE
ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
THANE BRANCH, AGIARY COMPOUND,
AGIARY LANE, TEMBI NAKA, THANE (WEST), THANE, Maharashtra
- 400601, INDIA |
B67669242
|
|
2 |
10296787
|
03/01/2013
* |
74,000,000.00
|
AXIS
BANK LIMITED |
DHEERAJ BAUG, HARINIWAS
CIRCLE, THANE WEST, THANE, Maharashtra - 400602,
INDIA |
B65614851
|
|
3 |
10291414
|
29/04/2011
|
5,000,000.00
|
THE
ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
NARGIS BUILDING, GROUND FLOOR,
EDULJEE ROAD, CHARAI, THANE (WEST), MUMBAI, Maharashtra
- 400601, INDIA |
B14718407
|
|
4 |
10284615
|
10/03/2011
|
1,700,000.00
|
THE
ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
NARGIS BUILDING, GROUND FLOOR,
EDULJEE ROAD, CHARAI, THANE (WEST), MUMBAI, Maharashtra
- 400601, INDIA |
B09609462
|
|
5 |
10201147
|
30/12/2009
|
45,000,000.00
|
The
Zoroastrian Co-Operative Bank Limited |
AGIARY COMPOUND, AGIARY LANE, TEMBI
NAKA, THANE (WEST), Mumbai, Maharashtra - 400601,
INDIA |
A78740156
|
|
6 |
90219861
|
21/03/2013
* |
715,000,000.00
|
AXIS
BANK LIMITED |
DHEERAJ BAUG, HARINIWAS
CIRCLE, THANE WEST, THAN E, Maharashtra - 400602,
INDIA |
B72605389
|
|
7 |
90241096
|
06/08/2013
* |
745,000,000.00
|
AXIS
BANK LIMITED |
DHEERAJ BAUG, HARINIWAS
CIRCLE, THANE WEST, THANE, Maharashtra - 400602,
INDIA |
B82638230
|
* Date of charge modification
CORPORATE
INFORMATION
Subject
is manufacturer of investment castings. It was incorporated on September 9,
1977 under the laws of the Republic of India and has its registered office at
Mumbai, Maharashtra.
Subject
is wholly owned subsidiary of Universal Ferro and Chemicals Limited. Which in
turn is a wholly owned
subsidy
of Chemical and Ferro Alloys Limited
Subject
has factories at Thane, Maneck Nagar,
Nasik and Dharwad. The
company also has Wind Power plants at
Varekarwadi.
FIXED ASSETS:
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Housing Colony
·
Plant and Machinery
·
Wind Energy Generators
·
Electrical Installations
·
Refrigeration and Air - Conditioning equipments
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Weighing Scale and Fire Fighting Equipments
·
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.63.90 |
|
|
1 |
Rs. 100.47 |
|
Euro |
1 |
Rs. 84.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
49 |
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 |
||