MIRA INFORM REPORT
|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALLMINERAL ASIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ecospace Business Park, Block B, 6th Floor, Action Area-II, Plot No.
II F/11, New Town, Rajarhat, Kolkata – 700156, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.11.2008 |
|
|
|
|
Com. Reg. No.: |
21-130315 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.343 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U11200WB2008PTC130315 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALA11891F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA3908M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is engaged in supply, commissioning and installation of beneficiation
machinery, which are used for the purpose of separation and beneficiation of
various types of ores etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 491000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflect healthy profitability indicators marked by
comfortable capital structure, adequate debt service indicators and
satisfactory liquidity position. Trade relation are fair. Business is active. Payment terms are
reported to be usually correct. The company can be consider for business dealings at usual 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt is
likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like messaging
service Weibo Corporation has filed to raise $ 500 million via a US initial
public offering. Alibaba, which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation
raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon
rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term loan from BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits A3 |
|
Rating Explanation |
Moderate degree of safety and high 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. AK Dutta |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-33-40174100 |
|
Date : |
07.02.2014 |
LOCATIONS
|
Registered Office : |
Ecospace Business Park, Block B, 6th Floor, Action Area-II, Plot No.
II F/11, New Town, Rajarhat, Kolkata – 700156, West Bengal, India |
|
Tel. No. : |
91-33-40174100 |
|
Fax No. : |
91-33-40174110 |
|
E-Mail : |
DIRECTORS
As on 05.06.2013
|
Name : |
Mr. Sabyasach Mishra |
|
Designation : |
Director |
|
Address : |
Flat No. 1703, Horizon Tower No. 3, PO. Patharghata, New Town, Kolkata
– 700135, West Bengal, India |
|
Date of Birth/Age : |
16.09.1967 |
|
Date of Appointment : |
06.11.2008 |
|
PAN No: |
ADBPN5171G |
|
CIN No. : |
00233852 |
|
|
|
|
Name : |
Mr. Satyabrata Mishra |
|
Designation : |
Alternate Director |
|
Address : |
1902, Horizon Tower – 2, Uniworld City, PO. Patharghata, New Town,
Kolkata – 700135, West Bengal, India |
|
Date of Birth/Age : |
02.01.1947 |
|
Date of Appointment : |
30.10.2012 |
|
CIN No. : |
01248858 |
|
|
|
|
Name : |
Mr. Heribert Breuer |
|
Designation : |
Director |
|
Address : |
An Haus Velde 9, Kempen-47906, |
|
Date of Appointment : |
06.11.2008 |
|
Passport No: |
516525100 |
|
CIN No. : |
02279030 |
|
|
|
|
Name : |
Mr. Peter Wolf |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
26.03.1965 |
|
Date of Appointment : |
20.03.2009 |
|
Passport No: |
565133517 |
|
CIN No. : |
02526491 |
|
|
|
|
Name : |
Mr. Kailash Kumar Agarwal |
|
Designation : |
Alternate Director |
|
Address : |
1/31, OCL Colony, Rajgangpur, Orissa-770017, |
|
Date of Birth/Age : |
10.07.1963 |
|
Date of Appointment : |
03.06.2013 |
|
CIN No. : |
02393634 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.06.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Allmineral Aufbereitungstechnik GmbH and Company KG |
374000 |
70.00 |
|
Jyotirmoyee International Private Limited |
160300 |
30.00 |
|
|
|
|
|
Total |
534300 |
100.00 |
As on 05.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
70.00 |
|
Bodies corporate |
30.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in supply, commissioning and installation of
beneficiation machinery, which are used for the purpose of separation and
beneficiation of various types of ores etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
v State Bank of India, Rourkela, Odisha, India v ICICI
Bank Limited, 3 A, Gurusaday Road, Kolkata - 700019, West Bengal, India v HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
NOTE: a)
Exclusive charge by way of hypothecation of the
company's entire stocks of raw materials, semi- finished and finished goods,
consumable stores and spares and
such other movables including book-debts, bills whether documentary or clean,
outstanding monies receivables, both present
and future, in a form and manner satisfactory to the bank b)
Exclusive charge (by way of equitable mortgage)
on commercial property situated at Unit -603, Ecospace, New Town Rajarhat
Kolkata valued at Rs.75.000 millions c)
Unconditional and irrevocable corporate guarantee
of Jyotirmoyee International Private Limited. d)
Repayable in 16 equal quarterly installments of
Rs. 2.109 millions each starting from 30.09.2012. Rate of interest as on
31.03.13 is 12.75% |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. Samkar Aiyar and Company Chartered Accountants |
|
Address : |
202, 203 and 301, Satyam Cinema Complex, Ranjit Nagar Community Centre, New Delhi – 110008, India |
|
Tel. No. : |
91-11-25702074, 25702691, 25705233 / 32 |
|
Fax No. : |
91-11-25705010, 25705232 |
|
E-Mail : |
|
|
PAN
No. : |
ACPPV7768R |
|
|
|
|
Holding Company: |
v Allmineral Aufbereltungstechnik GmbH and Company KG |
|
|
|
|
Enterprise over which KMP is able to exercise significant influences |
v Navneet Trading
and Investment company Private Limited v Pro Minerals
Private Limited v Hari Machines
Limited v Cemtec India Private
limited v Hazemag India
Private Limited v Confirm
Developers Private Limited v Shivshakti
Communication and Investment Private Limited v Jyotimoyee
International Private Limited v Steel Plantech
Engineering India Private Limited v Genuine Delcom
Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
534300 |
Equity Shares |
Rs.10/- each |
Rs.5.343 Millions |
|
|
|
|
|
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 |
5.343 |
5.343 |
5.343 |
|
(b) Reserves & Surplus |
117.584 |
94.518 |
28.596 |
|
(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) |
122.927 |
99.861 |
33.939 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
18.984 |
29.250 |
32.800 |
|
(b) Deferred tax liabilities (Net) |
1.980 |
1.013 |
3.055 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.017 |
1.908 |
4.078 |
|
Total Non-current Liabilities
(3) |
23.981 |
32.171 |
39.933 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
214.334 |
183.947 |
38.873 |
|
(c) Other
current liabilities |
119.477 |
126.657 |
161.995 |
|
(d) Short-term
provisions |
0.867 |
38.061 |
35.553 |
|
Total Current
Liabilities (4) |
334.678 |
348.665 |
236.421 |
|
|
|
|
|
|
TOTAL |
481.586 |
480.697 |
310.293 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
89.626 |
81.892 |
79.884 |
|
(ii)
Intangible Assets |
3.553 |
2.561 |
2.506 |
|
(iii)
Capital work-in-progress |
0.000 |
16.442 |
6.321 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.050 |
0.050 |
0.050 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
22.820 |
21.400 |
3.244 |
|
(e) Other
Non-current assets |
14.348 |
24.996 |
0.000 |
|
Total Non-Current
Assets |
130.397 |
147.341 |
92.005 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
49.241 |
21.663 |
32.098 |
|
(c) Trade
receivables |
242.867 |
225.012 |
37.527 |
|
(d) Cash
and cash equivalents |
33.581 |
65.068 |
120.208 |
|
(e)
Short-term loans and advances |
24.822 |
17.979 |
25.492 |
|
(f) Other current
assets |
0.678 |
3.634 |
2.963 |
|
Total
Current Assets |
351.189 |
333.356 |
218.288 |
|
|
|
|
|
|
TOTAL |
481.586 |
480.697 |
310.293 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
536.341 |
618.942 |
438.180 |
|
|
|
Other Income |
14.512 |
9.947 |
5.658 |
|
|
|
TOTAL |
550.853 |
628.889 |
443.838 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock-in-trade |
|
359.779 |
258.460 |
|
|
|
Changes in inventories of stock-in-trade |
|
10.434 |
(14.828) |
|
|
|
Employee Benefit Expenses |
|
47.730 |
34.599 |
|
|
|
Other Expenses |
|
44.300 |
29.850 |
|
|
|
TOTAL |
503.230 |
462.243 |
308.081 |
|
|
|
(Including
Financial) |
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
166.646 |
135.757 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
9.520 |
1.327 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
47.623 |
157.126 |
134.430 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.655 |
11.592 |
5.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
34.968 |
145.534 |
128.522 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.902 |
45.458 |
35.554 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
23.066 |
100.076 |
92.968 |
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
72.018 |
18.596 |
(30.219) |
||
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
0.000 |
0.125 |
10.000 |
|
|
|
Dividend |
0.000 |
29.386 |
29.386 |
|
|
|
Tax on Dividend |
0.000 |
4.767 |
4.767 |
|
|
BALANCE CARRIED TO
THE B/S |
95.084 |
72.018 |
18.596 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Technical Fees |
0.953 |
0.000 |
0.000 |
|
|
|
Goods |
0.806 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
1.759 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stock-in-trade |
204.041 |
88.812 |
27.061 |
|
|
|
Capital Goods |
0.000 |
5.873 |
0.000 |
|
|
TOTAL IMPORTS |
204.041 |
94.685 |
27.061 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
43.17 |
187.30 |
174.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.19
|
15.914 |
20.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.52
|
23.51 |
29.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.26
|
31.35 |
42.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
1.46 |
3.79 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15
|
0.29 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
0.96 |
0.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
5.343 |
5.343 |
5.343 |
|
Reserves & Surplus |
28.596 |
94.518 |
117.584 |
|
Net
worth |
33.939 |
99.861 |
122.927 |
|
|
|
|
|
|
long-term borrowings |
32.800 |
29.250 |
18.984 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
32.800 |
29.250 |
18.984 |
|
Debt/Equity
ratio |
0.966 |
0.293 |
0.154 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
438.180 |
618.942 |
536.341 |
|
|
|
41.253 |
(13.346) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
438.180 |
618.942 |
536.341 |
|
Profit |
92.968 |
100.076 |
23.066 |
|
|
21.22% |
16.17% |
4.30% |
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 |
Yes |
|
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 |
10305341 |
25/07/2012 * |
136,000,000.00 |
ICICI BANK LIMITED |
3 A Gurusaday Road, Kolkata, West Bengal -
700019, INDIA |
B44156693 |
* Date of charge modification
COMPANY OVERVIEW
The Company was
incorporated on 13th November 2008 as a private limited company
under the Companies Act, 1956. The Company is a subsidiary of Allmineral
Aufbereitungstechnik GmbH and Co. KG, a Germany based mineral processing
equipment major, engaged in providing complete solution in mineral
beneficiation from concept to commissioning. The Company is engaged in supply,
commissioning and installation of beneficiation machinery, which are used for
the purpose of separation and beneficiation of various types of ores etc.
BUSINESS
OPERATIONS AND FINANCIAL PERFORMANCE
During
the year, the Company achieved sales of Rs. 536.341 millions as compared
to Rs. 618.942 millions for the previous year. The operating
surplus declined to Rs. 23.066 millions from the previous year’s
earnings of Rs. 100.076 millions. This impairment was primarily
due to the impact of exchange fluctuation and other inflationary pressures.
The
liquidity crunch in the market had also impinged on the performance of the
Company for the year. An unfavorable outcome of this was the decision by a
number of clients to suspend acceptance of deliveries within March, 2013, even
though the materials in question were ready for dispatch in accordance with the
clients confirmed delivery schedules.
The
company completed the year with an order backlog of Rs. 523.000 million as
against Rs. 238.000 million (including spares) in the previous year. The order
backlog for 2012-13 including orders worth of Rs. 245.350 million which were on
hold from the customer’s side. Some of the significant orders bagged during the
year are mentioned below:
-
200 TPH manganese beneficiation plant
for Bondoukou Manganese, South Africa (Export order);
-
Pilot Allflux for National Mineral
Development Corporation (A Government of India Enterprise);
-
75 TPH iron-ore beneficiation plant
for Geomin Industries Private Limited, Madhya Pradesh.
OUTLOOK
Developments
over the past two years have significantly altered the Indian market and
industry scenario. What has remained unchanged however, are the usual
predictions for ambitious growth in Indian steel demand and capacity. The India
Steel Vision 2020 report, unveiled during the World Steel Association’s annual
conference in New Delhi this October, forecasts domestic finished steel demand
to more than double this decade to reach 155 million MT/year by FY 2020-21 from
an estimated 71 million MT/year in FY 2011-12 (assuming the GDP growth rate
averages 8% during this period). Demand from the construction and
infrastructure sectors is expected to continue to account for more than 60% of
domestic steel demand, as it does today. (This figures adopted from India Steel
Vision 2020.)
World
Steel Association has forecasted steel consumption in India to grow at 5% in
2013. Steel producers may see a spurt in demand in the medium-term if the
Indian government implements its USD1 trillion infrastructure investment plan
in a timely manner. The demand for flat steel from automobile, white goods and
capital goods sectors is likely to remain modest in 2013, given the continued
slow economic growth.
So
Company’s future depends on the above said development in right direction.
FIXED ASSETS
Ø Buildings
Ø Office Equipment
Ø EDP Equipments
Ø Furniture and Fixture
Ø Cycle
Ø Laboratory Equipments
Ø Plant and Machinery
Ø 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.60.38 |
|
|
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAR |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
48 |
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.