MIRA INFORM REPORT
|
Report Date : |
26.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIRAJ PROFILES LIMITED (w.e.f. 19.03.1998) |
|
|
|
|
Formerly Known
As : |
VIRAJ GASES LIMITED |
|
|
|
|
Registered
Office : |
G-34, MIDC Tarapur Industrial Area, Boisar, Taluka-Palghar, Tarapur,
District Thane – 401 506, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-096835 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1341.561 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113MH1996PLC096835 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV07253B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV1740N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of stainless steel products. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 41000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company possesses a decent financial profile marked by healthy networth
position during 2013. The ratings also take into consideration the elongated operating
cycle, exposure to volatility in raw material prices and foreign exchange
rates with substantial support to group companies. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of well established and experienced promoters, 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.
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 |
CARE |
|
Rating |
Long term bank facilities: “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
13.01.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Marketing Office/ Factory 1: |
G-34, MIDC Tarapur Industrial Area, Boisar, Taluka-Palghar, Tarapur,
District Thane – 401 506, Maharashtra, India |
|
Tel. No.: |
91-2525-904999 / 1021 / 28 |
|
Fax No.: |
91-2525-260159 / 274420 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
10, Imperial Chambers, 1st Floor, Wilson Road, Ballard Estate, Mumbai
– 400 038, Maharashtra, India |
|
Tel. No.: |
91-22-22613056/ 22614284 / 22614327 |
|
Fax No.: |
91-22-22659713 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Fasteners
Division G-1/3, MIDC Tarapur Industrial Area, Boisar, District Thane – 401 506,
Maharashtra, India |
|
Tel No.: |
91-2525-279702-013/ 261495-96/ 260656-54 |
|
Fax No.: |
91-2525-260651 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Neeraj Raja
Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park,
Juhu Tara Road, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1958 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00115140 |
|
PAN No.: |
AMXPK6610R |
|
|
|
|
Name : |
Mrs. Renu Neeraj
Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park,
Juhu Tara Road, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1958 |
|
Qualification : |
MA |
|
Date of Appointment : |
25.04.1997 |
|
DIN No.: |
00115236 |
|
PAN No.: |
AARPK1540N |
|
|
|
|
Name : |
Mr. Tharmapuram
Subramaniam Narayanasami |
|
Designation : |
Director |
|
Address : |
FLT-1B, The Lords Apartment, Sathya Dev Avenue, R.A. Puram, Chennai –
600 028, Tamilnadu, India |
|
Date of Birth/Age : |
18.05.1949 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
10.04.2012 |
|
DIN No.: |
01786981 |
|
|
|
|
Name : |
Mr. Shilan Jayantilal Thaker |
|
Designation : |
Director |
|
Address : |
601/2, Krishna Alankar Society, Tejpaj Scheme Road, No. 5, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
18.07.1957 |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
01836220 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Kumar Dash |
|
Designation : |
Secretary |
|
Address : |
C1-08, Cisf Colony, Panch Marg, Boisar – 401506, Thane, Maharashtra,
India |
|
Date of Birth/Age : |
03.06.1980 |
|
Date of Appointment : |
05.05.2010 |
|
PAN No.: |
AJCPD1194K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
SHAREHOLDING DETAILS
FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.48 |
|
Bodies corporate |
|
80.50 |
|
Directors or relatives of directors |
|
11.82 |
|
Other top fifty shareholders |
|
0.20 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Stainless Steel Products. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011):
a) Licensed
Capacity* and Installed capacity (Per Annum in MT)
|
Particulars |
Capacity
Installed |
|
Cast Billets and Ingots |
348000 |
|
Wire Rods |
192000 |
|
Rolled Products |
150000 |
|
Angle, Flat Bars and Channels |
60000 |
|
Forgings and Flanges |
51740 |
|
Bright Bars |
108000 |
|
Wires |
45600 |
|
Fasteners |
60000 |
|
Power Generation (in KWh) |
136656000 |
*Not applicable in each case
1) As certified by the management, on which auditors have placed
reliance, being a technical matter.
2) The installed capacity figures are given for triple shift on annual
basis.
|
Particulars |
Actual
Production (MT) |
|
Cast Billets and Ingots |
272161 (271722) |
|
Wire Rods |
150487 (94703) |
|
Rolled Products |
68513 (63466) |
|
Angle, Flat Bars and Channels |
57533 (12720) |
|
Forgings and Flanges |
37187 (24752) |
|
Bright Bars |
56350 (265) |
|
Wires |
24945 (2636) |
|
Fasteners |
32834 (141) |
|
Power Generation (in KWh) |
-- (--) |
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai – 400 011, Maharashtra, India |
|
Tel. No.: |
91-22-30440800 |
|
Fax No.: |
91-22-30440900 |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company : |
Bhoomika Financial Services Private Limited, India CIN No.: U67100MH2007PTC175256 |
|
|
|
|
Subsidiary : |
|
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
(CIN No.: U28939MH2004PTC149545)
(CIN No.: U45200MH1995PTC093238)
(CIN No.: U99999MH1997PTC111526)
(CIN No.: U67120MH1997PTC110163) |
CAPITAL STRUCTURE
After:
Authorised Capital : Rs. 1500.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 1464.638
Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1350000000 |
Equity Shares |
Re.1/- each |
Rs.1350.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1341560649 |
Equity Shares |
Re.1/- each |
Rs.1341.561
millions |
|
|
|
|
|
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity Shares |
Re.1/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1341560649 |
Equity Shares |
Re.1/- each |
Rs.1341.561
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 |
1341.561 |
1341.561 |
1341.561 |
|
(b) Reserves & Surplus |
8978.089 |
8275.238 |
7558.796 |
|
(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) |
10319.650 |
9616.799 |
8900.357 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
5194.172 |
3810.489 |
4313.793 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
180.668 |
114.482 |
109.341 |
|
Total
Non-current Liabilities (3) |
5374.840 |
3924.971 |
4423.134 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
9542.589 |
8940.470 |
7547.442 |
|
(b)
Trade payables |
13284.729 |
8258.322 |
7185.777 |
|
(c)
Other current liabilities |
3067.669 |
3383.907 |
3884.339 |
|
(d)
Short-term provisions |
55.463 |
92.067 |
15.976 |
|
Total
Current Liabilities (4) |
25950.450 |
20674.766 |
18633.534 |
|
|
|
|
|
|
TOTAL |
41644.940 |
34216.536 |
31957.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
8920.682 |
9453.968 |
7455.262 |
|
(ii)
Intangible Assets |
19.959 |
9.013 |
15.022 |
|
(iii)
Capital work-in-progress |
4167.583 |
1341.361 |
1152.019 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1577.663 |
1498.063 |
1571.804 |
|
(c) Deferred tax assets
(net) |
84.815 |
33.845 |
144.861 |
|
(d) Long-term Loan
and Advances |
1856.445 |
2247.236 |
2621.136 |
|
(e)
Other Non-current assets |
62.387 |
712.833 |
919.586 |
|
Total
Non-Current Assets |
16689.534 |
15296.319 |
13879.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.010 |
8.877 |
9.320 |
|
(b)
Inventories |
9564.974 |
8024.068 |
10409.141 |
|
(c)
Trade receivables |
956.111 |
1921.175 |
1527.155 |
|
(d)
Cash and cash equivalents |
3580.816 |
3310.884 |
2218.111 |
|
(e)
Short-term loans and advances |
9673.439 |
5505.604 |
3837.338 |
|
(f)
Other current assets |
1180.056 |
149.609 |
76.270 |
|
Total
Current Assets |
24955.406 |
18920.217 |
18077.335 |
|
|
|
|
|
|
TOTAL |
41644.940 |
34216.536 |
31957.025 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
47247.732 |
46957.876 |
41067.579 |
|
|
|
Other Income |
477.253 |
326.318 |
223.705 |
|
|
|
TOTAL (A) |
47724.985 |
47284.194 |
41291.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
31091.018 |
30766.029 |
30232.646 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(1116.710) |
1309.198 |
(2163.660) |
|
|
|
Employee benefit expense |
1647.833 |
1368.157 |
898.899 |
|
|
|
Other expenses |
11400.105 |
9102.125 |
8111.353 |
|
|
|
TOTAL (B) |
43022.246 |
42545.509 |
37079.238 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4702.739 |
4738.685 |
4212.046 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2381.969 |
2641.670 |
1932.283 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2320.770 |
2097.015 |
2279.763 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1257.861 |
1051.558 |
1024.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1062.909 |
1045.457 |
1255.644 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
360.059 |
329.016 |
463.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
702.850 |
716.441 |
792.042 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEAR’S
BALANCE BROUGHT FORWARD |
7588.483 |
6872.042 |
6080.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8291.333 |
7588.483 |
6872.042 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F. O. B. Value of Exports |
39811.000 |
40882.000 |
35206.000 |
|
|
TOTAL EARNINGS |
39811.000 |
40882.000 |
35206.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
24845.550 |
26981.961 |
|
|
|
Capital Goods |
NA |
1330.096 |
242.369 |
|
|
|
Consumables |
NA |
486.035 |
392.653 |
|
|
TOTAL IMPORTS |
NA |
26661.681 |
27616.983 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.52 |
0.53 |
0.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.47 |
1.51 |
1.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.25 |
2.22 |
3.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.97 |
3.33 |
4.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.11 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.42 |
1.32 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
0.91 |
0.98 |
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 |
1,341.561 |
1,341.561 |
1,341.561 |
|
Reserves & Surplus |
7,558.796 |
8,275.238 |
8,978.089 |
|
Net
worth |
8,900.357 |
9,616.799 |
10,319.650 |
|
|
|
|
|
|
long-term borrowings |
4,313.793 |
3,810.489 |
5,194.172 |
|
Short term borrowings |
7,547.442 |
8,940.470 |
9,542.589 |
|
Total
borrowings |
11,861.235 |
12,750.959 |
14,736.761 |
|
Debt/Equity
ratio |
1.333 |
1.326 |
1.428 |
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 |
41,067.579 |
46,957.876 |
47,247.732 |
|
|
|
14.343 |
0.617 |
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 |
41,067.579 |
46,957.876 |
47,247.732 |
|
Profit |
792.042 |
716.441 |
702.850 |
|
|
1.93% |
1.53% |
1.49% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Non-convertible debentures others |
1250.000 |
1225.000 |
|
Borrowing from government semi-government bodies |
57.174 |
73.812 |
|
|
|
|
|
Total |
1307.174 |
1298.812 |
ANALYSIS OF PERFORMANCE
FOR 2012-13
The sales and other income of the Company have been increased to Rs. 47724.000 millions as against Rs. 47284.000 millions in the previous year.
The business environment continues to be challenging on account of high volatiles in the price of nickel, a major raw material of the Company. Sluggish demand combined with ongoing volatility in raw materials has affected the profit. However the Company has maintained stable profit of Rs. 1060.000 millions as against 1050.000 millions in previous year. The Company is all set to meet the dynamic business environment and the management is optimistic about the bright future of the Company.
Note:
The registered office of the company has been shifted from G-76, MIDC, Tarapur Industrial Area, Tarapur – 400 045, Maharashtra to the present address w.e.f. 17.02.2009.
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10433397 |
22/06/2013 |
1,900,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH,
DALAMAL TOWER 211, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B78112521 |
|
2 |
10425163 |
02/05/2013 |
579,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE FINANCE
BRANCH, MMO BUILDING, 1ST FLOOR, M G ROAD, FORT, MUMBAI, MAHARASHTRA -
400023, INDIA |
B74949207 |
|
3 |
10421742 |
28/03/2013 |
1,080,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 102, NATRAJ, 194, SIR |
B73749848 |
|
4 |
10423883 |
22/03/2013 |
852,000,000.00 |
THE SOUTH INDIAN
BANK LIMITED |
NARIMAN POINT BRANCH,
GROUND FLOOR, 207, EMBASSY CENTRE, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
B74479742 |
|
5 |
10417753 |
21/03/2013 |
1,000,000,000.00 |
STATE BANK OF
TRAVANCORE |
MALANKARA
CENTRE, MG ROAD ERNAKULAM, ERNAKULAM, KERALA - 682035, INDIA |
B72608458 |
|
6 |
10417971 |
05/03/2013 |
1,830,000,000.00 |
VIJAYA BANK |
OVERSEAS BRANCH,
MAKER CHAMBER-IV, NARIMAN POINT, |
B72658545 |
|
7 |
10401151 |
05/02/2013 |
3,500,000,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND
FLOOR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B67297218 |
|
8 |
10399640 |
10/01/2013 |
280,000,000.00 |
BANK OF INDIA |
NARIMAN POINT
LARGE CORPORATE BRANCH, 92-93, FREE PRESS HOUSE, 215, NARIMAN POINT,
MUMBAI, MAHARASHTRA - 400021, INDIA |
B66373952 |
|
9 |
10366990 |
29/06/2012 |
1,000,000,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR, OPPOSITE SAMARTHESHAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT
- 380006, INDIA |
B44340339 |
|
10 |
10275417 |
10/05/2012 * |
720,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B40361974 |
|
11 |
10212180 |
29/03/2010 |
1,250,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A83114710 |
|
12 |
10211658 |
04/03/2010 |
1,500,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, |
A82932922 |
|
13 |
10061532 |
27/07/2012 * |
40,153,500,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND
FLOOR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI, MAHARASHTRA
- 400025, INDIA |
B44417848 |
|
14 |
10061531 |
13/12/2010 * |
29,528,900,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
B02754448 |
|
15 |
10029142 |
06/12/2007 * |
1,510,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18 HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A28536928 |
|
16 |
10026925 |
21/11/2006 |
1,827,200,000.00 |
ANDHRA BANK |
NANAVATI MAHALAYA,
18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023, INDIA |
A07071335 |
|
17 |
10026847 |
21/11/2006 |
2,000,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A07070428 |
|
18 |
10026851 |
21/11/2006 |
2,211,300,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A07072747 |
|
19 |
80013068 |
11/01/2007 * |
8,359,700,000.00 |
ANDHRA BANK |
18, HOMI MODI
STREET,NANVATI MAHALAYA, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
- |
|
20 |
90145482 |
30/10/2004 |
440,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18; HOMI MODI STREET; FORT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
21 |
90146782 |
12/09/2006 * |
440,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
- |
|
22 |
80011202 |
25/08/2006 * |
2,000,000,000.00 |
ANDHRA BANK |
NANAVATI MAHALAYA,
18, HOMI MODI STREET, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
23 |
90160308 |
16/05/2005 * |
420,000,000.00 |
ANDHRA BANK |
SNANAVATI
MAHALAYA, 18; HOMI MODI STREET; FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
24 |
90148218 |
03/03/2005 * |
70,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18; HOMI MODI STREET; FORT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
25 |
80014390 |
17/12/2007 * |
1,351,300,000.00 |
ANDHRA BANK |
18, HOMI MODI STREET,
NANAVATI MAHALAYA, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A28825727 |
* Date of charge modification
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Factory and Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· Computer
· Vehicles
· Software
· Live Stock
PRESS RELEASE
VIRAJ PROFILES LTD.
RELIES ON IBM’S SMARTER COMPUTING TO ENHANCE IT INFRASTRUCTURE
India - 08 Jul 2013: IBM (NYSE: IBM) today announced Viraj Profiles Ltd., a leading stainless steel long products manufacturer from Maharashtra, India, has implemented IBM’s Smarter Computing solutions to improve their overall IT efficiency.
Viraj Profiles Ltd. has over seven manufacturing facilities across Maharashtra with annual capacity of 348,000 tonnes. To keep up with its growth while integrating its branches and their internal businesses, Viraj needed a robust and scalable IT infrastructure. Viraj had previously deployed Fujitsu x86 servers, which was hampering their performance subsequent to the growth and increase in number of users on their Disaster Recovery site.
Viraj Profiles Ltd. turned to IBM to help them deploy IBM Power System while migrating from Fujitsu x86 to unix on the AIX platform. The IBM Power7 System uses P700 and P710 servers along with Storwize V7000 storage to give a complete solution to businesses to manage their workload and create a robust environment to run their business. The integrated combination of the POWER architecture and PowerVM makes possible far higher consolidation ratios and virtualization solutions. IBM is also providing training on the AIX platform that will help Viraj implement the solution faster.
IBM is working with many SMBs who are struggling to adopt smarter computing solutions due to lack of in-house skills and expertise to design and maintain hardware-based systems. IBM is addressing these issues with new Power Systems solutions that don’t require specialized skills and offer the latest technologies in virtualization and automation to speed private and hybrid cloud creation.
"With the goal to raise stainless steel capacity in the coming years, we needed to run our SAP ERP system on an IT infrastructure we could rely on. Our previous solution gave us problems with several systems - order booking, resource planning, sales and stocks monitoring, product launches." said V J Rao, President & CIO, Viraj Profiles Limited. "By migrating to IBM AIX on IBM Power systems, and using IBM Storage, we expect to decrease total cost of ownership for our ERP applications by 10-15 percent"
“Our clients recognize that in today's business environment, technology can provide a valuable competitive edge and help them to differentiate, said Jyothi Satyanathan, Director Midmarket and Inside Sales, IBM India/South Asia. "We believe that this IBM Smarter Computing solution will help Viraj Profiles fully leverage the potential of its ERP system, reach its business goals today and pave the way for its success in the future."
IBM Smarter Computing solutions offer an ideal platform for SMB clients to run next-generation applications and pave the way for new possibilities of growth.
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. 61.11 |
|
|
1 |
Rs. 102.71 |
|
Euro |
1 |
Rs. 84.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.