MIRA
INFORM REPORT
|
Report Date : |
04.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHANDAN STEEL LIMITED |
|
|
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Registered
Office : |
504, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
08.11.1989 |
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|
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Com. Reg. No.: |
11-054206 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.314.147 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1989PLC054206 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC03758G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC4713B
|
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Stainless Steel Products,
Pipe Fittings and Valves. |
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|
|
|
No. of Employees
: |
1400 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record. There seems slight dip in the profit of the company during 2013
however net worth of the company is satisfactory. Trade relations are reported as fair. Business is active. Payments
terms 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: BBB – (Suspended) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
November 08, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A3 (Suspended) |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
November 08, 2013 |
NOTE:
Reason for Suspended: The rating has been suspended
as the company has not furnished the information required.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vinod Sharma |
|
Designation : |
General Manager in Accounts and Finance |
|
Contact No.: |
91-9833041563 |
|
Date : |
02.08.2014 |
LOCATIONS
|
Registered/ Head/ Administrative Office : |
504, Sukh Sagar,
N.S. Patkar Marg, Mumbai – 400 007,
Maharashtra, India |
|
Tel. No.: |
91-22-66290600 |
|
Mobile No.: |
91-9833041563 (Mr. Vinod Sharma) |
|
Fax No.: |
91-22-66290633/ 34 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
2500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
31, 32, 33B, 35 and 36, GIDC, Umbergaon, District Valsad – 396 171, Gujarat, India |
|
Tel. No.: |
91-260-2562066/ 4367/ 1166/ 3089999 |
|
Fax No.: |
91-260-2562287/ 0103/ 3089872 |
|
E-Mail : |
|
|
Area : |
200 Acres |
|
Location : |
Owned |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Chunilal Ghamandiram Chandan |
|
Designation : |
Chairman and Whole Time Director |
|
Address : |
504, Chandralok-A, 97, Nepean Sea Road, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1938 |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
ADGPC1366E |
|
DIN No.: |
00260127 |
|
|
|
|
Name : |
Mr. Dilip Chunilal Chandan |
|
Designation : |
Managing Director |
|
Address : |
504, Chandralok-A, 97, Nepean Sea Road, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
01.01.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AAGPC2155A |
|
DIN No.: |
00259884 |
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|
|
|
Name : |
Mr. Vijay Kumar Chunilal Chandan |
|
Designation : |
Joint Managing Director |
|
Address : |
504, Chandralok-A, 97, Nepean Sea Road, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
05.06.1967 |
|
Qualification : |
HSC |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AAGPC2153G |
|
DIN No.: |
00259988 |
|
|
|
|
Name : |
Mr. Prahalad Hargovind Acharya |
|
Designation : |
Whole-time Director |
|
Address : |
No.126/13, Garden View, Indulal Bhuva Marg, Wadala, Mumbai – 400 031,
Maharashtra, India |
|
Date of Birth/Age : |
29.09.1943 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
01.12.2004 |
|
DIN No.: |
00260284 |
|
|
|
|
Name : |
Mr. Prabhat Kumar Gopi Kaushik |
|
Designation : |
Whole-time Director |
|
Address : |
108, Afghan Street, P.O Jammu Tawi, Jammu Kashmir – 180 001, India |
|
Date of Birth/Age : |
17.07.1951 |
|
Date of Appointment : |
30.09.2006 |
|
PAN No.: |
ACWPK6029M |
|
DIN No.: |
00292959 |
|
|
|
|
Name : |
Mr. Jagdish Padmakant Joshipura |
|
Designation : |
Director |
|
Address : |
103, Vasundhara Flats, Near Pritam Nagar, Ellisbridge, Ahmedabad – 380
006, Gujarat, India |
|
Date of Birth/Age : |
05.03.1951 |
|
Qualification : |
Ph. D |
|
Date of Appointment : |
16.03.1997 |
|
DIN No.: |
00260590 |
|
|
|
|
Name : |
Mr. Pravin Chahanlal Jain |
|
Designation : |
Whole-time Director |
|
Address : |
301, 3rd Floor, Padmavati Darshan, A Wing, N.M. Joshi Marg,
Lower Parel, Mumbai - 400013, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
15.07.2007 |
|
PAN No.: |
AACPJ9872F |
|
DIN No.: |
00345045 |
|
|
|
|
Name : |
Mr. Anil Kumar Dhar |
|
Designation : |
Director |
|
Address : |
2-C, Shree Vijaya Bhavan, Altamount Road, Mumbai – 400 026, Maharashtra,
India |
|
Date of Birth/Age : |
10.09.1952 |
|
Qualification : |
MBA |
|
Date of Appointment : |
11.07.2008 |
|
DIN No.: |
01524239 |
|
|
|
|
Name : |
Mr. Hiten Mukundbhai Parikh |
|
Designation : |
Director |
|
Address : |
2-C, Shree Vijaya Bhavan, Altamount Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
17.08.1963 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
01686215 |
KEY EXECUTIVES
|
Name : |
Mr. Jayant Vasant Gudekar |
|
Designation : |
Company Secretary |
|
Address : |
B-8, Plot No. 543, Susmruti Co-Operative Society, Sector-5, Kandivali
West, Mumbai- 400067, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1979 |
|
Date of Appointment : |
01.08.2008 |
|
Pan No. : |
ALMPG9925H |
|
|
|
|
Name : |
Mr. Vinod Sharma |
|
Designation : |
General Manager in Accounts and Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Chunilal Ghamadiram Chandan |
|
2308830 |
|
Dilip Chunilal Chandan |
|
3037137 |
|
Vijay Chunilal Chandan |
|
3184735 |
|
Samuben Chunilal Chandan |
|
1037770 |
|
Urmila Dilip Chandan |
|
1347132 |
|
Usha Vijay Chandan |
|
1609946 |
|
Chaitny Dilip Chandan |
|
718060 |
|
Chirag Dilip Chandan |
|
744431 |
|
Dilip Chunilal Chandan – HUF |
|
981419 |
|
Vijay Chunilal Chandan – HUF |
|
1723196 |
|
Chunilal Ghamadiram Chandan –
HUF |
|
935176 |
|
|
|
|
|
Total |
|
17627832 |
|
Names of Preference Shareholders (6% Non-Cumulative Redeemable Preference Shares) |
|
No. of Shares |
|
Chunilal Ghamadiram Chandan |
|
1000000 |
|
Vijay Chunilal Chandan |
|
2000000 |
|
Dilip Chunilal Chandan |
|
630000 |
|
Usha Vijay Chandan |
|
300000 |
|
Urmila Dilip Chandan |
|
1070000 |
|
|
|
|
|
Total |
|
5000000 |
|
Names of Preference Shareholders (6% Non-Cumulative Redeemable Preference Shares) |
|
No. of Shares |
|
Chunilal Adhiraj Construction Private
Limited, India |
|
2000000 |
|
Arnoid Holding Limited, India |
|
6430000 |
|
Keemtee Financial Serviced Limited, India |
|
570000 |
|
|
|
|
|
Total |
|
9000000 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Products,
Pipe Fittings and Valves. |
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Products : |
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Exports : |
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Products : |
Stainless Steel Products, Pipe Fittings and Valves |
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Countries : |
·
Italy ·
Germany ·
Austria ·
Middle East ·
Gulf Countries |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
China ·
Italy |
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Terms : |
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Selling : |
Cash and Advance Payments |
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Purchasing : |
Cash and Advance Payments |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
1400 (Approximately) |
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Bankers : |
·
Small Industries Development Bank of India,
Samruddhi Venture Park, Upper Ground Floor, MIDC Road, MIDC Industrial Area,
Marol, Andheri (East), Mumbai – 400 093, Maharashtra, India ·
Dena Bank, 12-16, 3rd Bhoiwada, Gulalwadi, Mumbai
- 400002, Maharashtra, India ·
State Bank of India, Girgaum Branch, Mumbai – 400
004, Maharashtra, India ·
Oriental Bank of Commerce, Overseas Branch,
Dalamal Towers, 211 Nariman Point, Nariman Point, Mumbai, Mumbai - 400021,
Maharashtra, India ·
United Bank of India ·
Bank of Baroda ·
Standard Charted Bank ·
Kotak Mahindra Bank |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
·
Aditya Birla Finance Limited, Indian Rayon
Compound, Veraval – 362 266, Gujarat, India · Gujarat State Financial Corporation, Jal Darshan Building, Ashram Road, Ahmedabad – 380 009, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Taparia Chartered Accountants |
|
Address : |
12, Navjeevan Wadi, Dhobi Talao, Mumbai – 400 002, Maharashtra, India |
|
Tel. No.: |
91-22-66319266 / 67/ 68 |
|
Fax No.: |
91-22-66319266 / 67/ 68 |
|
E-Mail : |
|
|
PAN No.: |
AAOFS0663D |
|
|
|
|
Subsidiary Company
: |
·
Chandan Minerals Private Limited, India CIN No.: U14292MH2010PTC209730 ·
Kalikund Investment B.V., Netherlands |
|
|
|
|
Fellow Subsidiary : |
· KDG Steel sp.z.o.o., Poland |
CAPITAL STRUCTURE
After: 27.09.2013
Authorised Capital : Rs.350.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.321.019 Millions
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
5000000 |
6% Redeemable
Non-Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
10000000 |
9% Redeemable
Non-Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17627832 |
Equity Shares |
Rs.10/- each |
Rs.176.278
Millions |
|
5000000 |
6% Redeemable
Non-Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000
Millions |
|
9000000 |
9% Redeemable
Non-Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.90.000
Millions |
|
|
Total |
|
Rs.316.278 Millions |
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
5000000 |
6% Redeemable
Non-Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
10000000 |
9% Redeemable
Non-Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17414676 |
Equity Shares |
Rs.10/- each |
Rs.174.147
Millions |
|
5000000 |
6% Redeemable
Non-Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000
Millions |
|
9000000 |
9% Redeemable
Non-Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.90.000
Millions |
|
|
Total |
|
Rs.314.147 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 |
314.147 |
303.587 |
295.741 |
|
(b) Reserves & Surplus |
1034.312 |
829.766 |
646.091 |
|
(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) |
1348.459 |
1133.353 |
941.832 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
335.070 |
328.435 |
284.540 |
|
(b) Deferred tax liabilities (Net) |
207.112 |
189.566 |
176.522 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.686 |
4.140 |
3.951 |
|
Total Non-current Liabilities (3) |
546.868 |
522.141 |
465.013 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2219.255 |
1763.870 |
1881.915 |
|
(b) Trade payables |
1053.731 |
1099.931 |
780.581 |
|
(c) Other current
liabilities |
249.128 |
179.371 |
127.439 |
|
(d) Short-term provisions |
139.590 |
162.700 |
94.714 |
|
Total Current Liabilities (4) |
3661.704 |
3205.872 |
2884.649 |
|
|
|
|
|
|
TOTAL |
5557.031 |
4861.366 |
4291.494 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1541.672 |
1332.404 |
1285.178 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
122.290 |
153.305 |
55.284 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
30.908 |
25.418 |
1.973 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
237.255 |
|
(d) Long-term Loan and Advances |
158.396 |
164.442 |
40.038 |
|
(e) Other Non-current assets |
0.695 |
0.875 |
0.000 |
|
Total Non-Current Assets |
1853.961 |
1676.444 |
1619.728 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1816.578 |
1643.414 |
1215.139 |
|
(c) Trade receivables |
1142.383 |
942.116 |
959.114 |
|
(d) Cash and cash
equivalents |
242.048 |
223.148 |
187.473 |
|
(e) Short-term loans and
advances |
71.511 |
52.531 |
42.218 |
|
(f) Other current assets |
430.550 |
323.713 |
267.822 |
|
Total Current Assets |
3703.070 |
3184.922 |
2671.766 |
|
|
|
|
|
|
TOTAL |
5557.031 |
4861.366 |
4291.494 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5324.239 |
5273.851 |
4594.628 |
|
|
|
Other Income |
0.134 |
0.096 |
12.285 |
|
|
|
TOTAL (A) |
5324.373 |
5273.947 |
4606.913 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4157.907 |
4239.408 |
3593.512 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(271.185) |
(373.445) |
74.469 |
|
|
|
Employee Benefit Expenses |
105.314 |
76.830 |
52.486 |
|
|
|
Other Expenses |
785.216 |
742.199 |
455.024 |
|
|
|
Prior Period Items |
0.033 |
2.266 |
0.777 |
|
|
|
TOTAL (B) |
4777.285 |
4687.258 |
4176.268 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
547.088 |
586.689 |
430.645 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
249.966 |
254.801 |
149.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
297.122 |
331.888 |
281.332 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
85.355 |
82.051 |
65.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
211.767 |
249.837 |
216.060 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
70.579 |
83.343 |
66.956 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
141.188 |
166.494 |
149.104 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
529.264 |
394.533 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend and Dividend Distribution Tax |
NA |
NA |
14.373 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
529.264 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports (Net of Return) |
4749.846 |
4897.757 |
3938.872 |
|
|
TOTAL EARNINGS |
4749.846 |
4897.757 |
3938.872 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2769.257 |
2423.893 |
1686.282 |
|
|
|
Capital Goods |
50.953 |
34.424 |
80.082 |
|
|
TOTAL IMPORTS |
2820.210 |
2458.317 |
1766.364 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.83 |
9.82 |
8.84 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
7100.000 |
|
|
|
|
|
The above information has been parted by Mr. Vinod Sharma
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.65
|
3.16 |
3.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.98
|
4.74 |
4.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.81
|
5.34 |
5.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61
|
0.22 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.59
|
1.45 |
2.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.74
|
0.99 |
0.93 |
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 |
295.741 |
303.587 |
314.147 |
|
Reserves & Surplus |
646.091 |
829.766 |
1034.312 |
|
Net
worth |
941.832 |
1133.353 |
1348.459 |
|
|
|
|
|
|
long-term borrowings |
284.540 |
328.435 |
335.070 |
|
Short term borrowings |
1881.915 |
1763.870 |
2219.255 |
|
Total
borrowings |
2166.455 |
2092.305 |
2554.325 |
|
Debt/Equity
ratio |
2.300 |
1.846 |
1.894 |
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 |
4594.628 |
5273.851 |
5324.239 |
|
|
|
14.783 |
0.955 |
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 |
4594.628 |
5273.851 |
5324.239 |
|
Profit |
149.104 |
166.494 |
141.188 |
|
|
3.25% |
3.16% |
2.65% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
37.894 |
0.000 |
|
Short-term
borrowings |
|
|
|
Intercorporate deposits |
8.100 |
0.000 |
|
|
|
|
|
Total |
45.994 |
0.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10379723 |
21/09/2012 |
100,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE
FINANCE BRANCH, 2ND FLOOR, 25, SIR P.M. ROAD, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
B59381749 |
|
2 |
10377909 |
05/09/2012 |
69,500,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON
COMPOUND, VERAVAL, GUJARAT - 362266, |
B58613985 |
|
3 |
10361925 |
13/06/2012 |
150,000,000.00 |
DENA BANK |
12-16, 3RD
BHOIWADA, GULALWADI, MUMBAI, MAHARASHTRA - 400002, INDIA |
B42156067 |
|
4 |
10324980 |
14/06/2013 * |
3,400,000,000.00 |
UNITED BANK OF INDIA (LEAD BANK) |
CORPORATE
FINANCE BRANCH, 25, SIR P.M. ROAD, 2ND FLOOR, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
B79129201 |
|
5 |
10299997 |
28/07/2011 |
90,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE
FINANCE BRANCH, 25, SIR P.M. ROAD, 2ND
FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B17995952 |
|
6 |
10286520 |
19/04/2011 |
25,000,000.00 |
BANK OF BARODA |
10/12, MUMBAI SAMACHAR
MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B12703252 |
|
7 |
10286521 |
19/04/2011 |
60,000,000.00 |
BANK OF BARODA |
10/12, MUMBAI
SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B12703484 |
|
8 |
10225562 |
28/05/2010 |
20,000,000.00 |
BANK OF BARODA |
POST BOX NO.347,
10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A87944146 |
|
9 |
10221336 |
10/05/2010 |
50,000,000.00 |
UNITED BANK OF INDIA |
UNITED BANK OF INDIA
BUILDING, 25, SIR P.M. ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
A85583755 |
|
10 |
10171739 |
11/08/2009 |
250,000,000.00 |
UNITED BANK OF INDIA |
25, SIR P.M.
ROAD,, MUMBAI, MAHARASHTRA - 400001, |
A67380857 |
* Date of charge modification
REVIEW OF OPERATIONS:-
During the Year
Company has maintain Net Sales of Rs. 5320.000 Millions as compared to Rs.
5270.000 Millions in 2011-12, this is inspite of slowdown in steel industry.
The Net Profit after Tax is at Rs. 141.100 Millions as compared to Rs.166.400
Millions same period on previous year showing a decrease of 15.20%. The sales
volume also marginally increase to 22371.629 MT in 2011-12 as compared to
22306.170 MT in 2010-11.
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computer Equipments
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.60.85 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.