MIRA
INFORM REPORT
|
Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAAJRATNA METAL INDUSTRIES LIMITED (w.e.f.25.10.1994) |
|
|
|
|
Formerly Known
As : |
RAAJRATNA CHEMICALS PRIVATE LIMITED |
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|
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Registered
Office : |
909, Sakar III, Near |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.05.1988 |
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|
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Com. Reg. No.: |
04-010673 |
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Capital
Investment / Paid-up Capital : |
Rs.83.622 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1988PLC010673 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACR9980M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Stainless Steel Wires. |
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|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track. Financial position of the company seems to be decent. Trade relation are fair. Business is active. Payment terms are reported
to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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 |
CRISIL |
|
Rating |
Long term rating: BBB |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
12.12.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
12.12.2013 |
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 PARTED BY
|
Name : |
Mr. Kinesh Shah |
|
Designation : |
Senior Manager Finance |
|
Contact No.: |
91-79-27543681 |
|
Date : |
04.08.2014 |
LOCATIONS
|
Registered / Corporate Office/ Factory 1 : |
909, Sakar III, Near Income Tax Circle, Navrangpura, Ahmedabad -
380014, Gujarat, India |
|
Tel. No.: |
91-79-27543681/ 82/ 83/ 84 |
|
Fax No.: |
91-79-27543085/ 26568085 |
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E-Mail : |
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|
Website : |
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|
Area : |
40000 sq. ft. |
|
Location : |
Owned |
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Factory 2 : |
Bileshwarpura, Ahmedabad - Mehsana Highway, Taluka Kalol, District Gandhinagar, Gujarat, India |
|
Tel. No.: |
91-27642-33664/ 5 |
|
Fax No.: |
91-27642-33663 |
|
Location : |
Owned |
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|
|
|
Branch Office 1 : |
126, Mittal Court, A Wing, Nariman Point, Mumbai - 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-22829342/ 44/ 45/ 46 |
|
Fax No.: |
91-22-22829343 |
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E-Mail : |
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Branch Office 2
: |
Shop No. 7, Anup Estate, Sector 10-A, Main Road, Gurgaon - 122001,
Haryana, India |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Arvindkumar Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
15, Shanti Niketan Society, Opposite Gujarat College Road, Ellis Bridge, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age : |
01.01.1956 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AACPS9853K |
|
DIN No.: |
00435340 |
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|
|
|
Name : |
Mr. Babulal Dalichand Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
Sanghvi Mansion, 17 Lakdawala Building, 5th Khtwadi Lane, Mumbai - 400004, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1951 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AACPS4439D |
|
DIN No.: |
00601159 |
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|
|
|
Name : |
Mr. Tarachand Dalichand Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
43, Highway Park Society, Rambaug Road, Sabarmati, Ahmedabad – 380005, Gujarat, India |
|
Date of Birth/Age : |
18.07.1947 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
ACIPS6387C |
|
DIN No.: |
00601195 |
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|
|
|
Name : |
Mr. Naresh Babulal Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
15, Shantiniketan Society, Near Gujarat College Road, Ellis Bridge, Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
13.06.1973 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AACPS4438C |
|
DIN No.: |
00601322 |
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|
|
|
Name : |
Mr. Ashimkumar Rakhalraj Banerjee |
|
Designation : |
Whole-time Director |
|
Address : |
Evershine Apartment II, J. P. Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
04.09.1949 |
|
Qualification: |
B.E |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AAUPB9079Q |
|
DIN No.: |
02010493 |
|
|
|
|
Name : |
Mr. Manish Babulal Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
17, Sanghvi Mansion, Lakdawala Building, 1st Floor, Khetwadi, 5th Lane, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1980 |
|
Qualification: |
B. Com |
|
Date of Appointment : |
18.05.2010 |
|
PAN No.: |
AACPS6102P |
|
DIN No.: |
03089574 |
KEY EXECUTIVES
|
Name : |
Mr. Kinesh Shah |
|
Designation : |
Senior Manager Finance |
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|
|
|
Name : |
Mr. Purvashi D. Adhvaryu |
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Designation : |
Company Secretary |
|
Address : |
20, Avantika Park, Raw House, Behind Sun-N-Step Club, Memnagar,
Ahmedabad - 380061, Gujarat, India |
|
Date of Birth/Age : |
08.02.1977 |
|
Date of Appointment : |
01.09.2011 |
|
PAN No.: |
AFRPA1633B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
NOTE: MAJOR SHAREHOLDERS DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.99 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporters and Importer of Stainless Steel Wires. |
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Products : |
·
Stainless Steel and Nickel Alloy Wires ·
Stainless Steel and Nickel Alloy Spring Wires ·
Stainless Steel Cold heading Wires ·
Stainless Steel Bright bars ·
Stainless Steel Profile Wires ·
Stainless Steel Reinforcement Bar |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
All Over the World |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Taiwan ·
Japan |
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Terms : |
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Selling : |
L/C, Cheque and Credit |
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Purchasing : |
L/C, Cheque and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity |
|
S.S. / Copper Wires |
MT |
36000 |
|
S.S. Scrap |
MT |
NA |
|
Power Generation |
Units |
6.75 MW |
Actual Production:
|
Particulars |
Unit |
Production |
|
|
|
|
Own |
Job Work |
|
S.S. / Copper Wires |
MT |
27878.968 |
3162.007 |
|
S.S. Scrap |
MT |
587.848 |
NA |
|
Power Generation |
Units |
10206583 |
NA |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
·
The Bank of Baroda Limited, Ashram Road, Vallabh
Sadan, Opposite Natraj Cinema,
Ahmedabd-380009, Gujarat, India Tel.
No.: 91-79-26580362/ 26580173 · State Bank of India, Overseas Branch, Navgivan, Ahmedabad, Gujarat, India · IDBI Bank Limited, IDBI Complex, Near Lal Bunglow, Off C. G. Road, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name 1 : |
Shah Kantilal and Company Chartered Accountants |
|
Address : |
804, Mauryansh, Elanza, Near Parekhs Hospital, Shyamal
Cross Road, Satellite, Ahmedabad, Gujarat, India |
|
PAN No.: |
AACFM6805H |
|
|
|
|
Name 2 : |
Mehta Lodha and Company Chartered Accountants |
|
Address : |
804, Sarap Building, Opposite Navjivan Press, Off Ashram Road,
Ahmedabad – 380014, Gujarat, India |
|
PAN No.: |
AAMFS3865K |
|
|
|
|
Associates: |
· Raajratna Electrodes Private Limited, India [U29308GJ1991PTC016444] · Raajratna Stockholding Private Limited, India [U65990GJ1992PTC018491] · Raajratna Ventures Limited, India [U27209GJ2004PLC044288] · Real Strips Limited, India [L27100GJ1990PLC014383] · Concept Infoway Private Limited, India [U72900GJ2000PTC037745] · Unical Chemicals India Private Limited, India [U24100GJ2010PTC060200] |
|
|
|
|
Subsidiary company: |
· Stainless Wire Limited · Raajratna Stainless Wire (USA) Inc · Erre Inox S. P. A |
CAPITAL STRUCTURE
As on 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8362166 |
Equity Shares |
Rs. 10/- each |
Rs.83.622
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 |
83.622 |
83.622 |
83.622 |
|
(b) Reserves & Surplus |
1395.227 |
1198.387 |
1166.249 |
|
(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) |
1478.849 |
1282.009 |
1249.871 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
103.096 |
364.423 |
378.031 |
|
(b) Deferred tax liabilities (Net) |
159.063 |
169.019 |
167.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
20.050 |
16.817 |
13.610 |
|
Total Non-current Liabilities (3) |
282.209 |
550.259 |
558.641 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2263.120 |
2469.136 |
2282.086 |
|
(b) Trade payables |
339.817 |
490.391 |
226.148 |
|
(c) Other current
liabilities |
267.863 |
133.582 |
88.559 |
|
(d) Short-term provisions |
153.018 |
113.246 |
141.532 |
|
Total Current Liabilities (4) |
3023.818 |
3206.355 |
2738.325 |
|
|
|
|
|
|
TOTAL |
4784.876 |
5038.623 |
4546.837 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1296.477 |
1345.345 |
1270.445 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
12.915 |
19.710 |
36.253 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
87.992 |
48.645 |
48.580 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.842 |
15.264 |
10.548 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1412.226 |
1428.964 |
1365.826 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
780.794 |
970.540 |
787.734 |
|
(c) Trade receivables |
1984.339 |
2008.191 |
1863.177 |
|
(d) Cash and cash equivalents |
13.414 |
38.630 |
3.689 |
|
(e) Short-term loans and
advances |
594.103 |
592.298 |
526.411 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
3372.650 |
3609.659 |
3181.011 |
|
|
|
|
|
|
TOTAL |
4784.876 |
5038.623 |
4546.837 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6202.430 |
6012.575 |
5303.309 |
|
|
|
Other Income |
8.981 |
11.340 |
12.248 |
|
|
|
TOTAL (A) |
6211.411 |
6023.915 |
5315.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4503.015 |
4760.890 |
3968.037 |
|
|
|
Employee benefit expense |
179.119 |
150.194 |
124.063 |
|
|
|
Other expenses |
834.652 |
727.246 |
633.776 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
27.592 |
(57.061) |
(49.583) |
|
|
|
Prior Period Expenses |
2.467 |
0.598 |
(0.041) |
|
|
|
TOTAL (B) |
5546.845 |
5581.867 |
4676.252 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
664.566 |
442.048 |
639.305 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
188.182 |
218.198 |
160.302 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
476.384 |
223.850 |
479.003 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
155.204 |
141.896 |
126.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
321.180 |
81.954 |
352.935 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
100.043 |
25.520 |
114.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
221.137 |
56.434 |
238.789 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
948.387 |
936.249 |
796.054 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
20.000 |
50.000 |
|
|
|
Proposed Dividend |
0.000 |
20.905 |
41.811 |
|
|
|
Corporate
Dividend Tax |
3.392 |
3.391 |
6.783 |
|
|
|
Interim Dividend |
20.905 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1095.5227 |
948.387 |
936.249 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
4056.403 |
4310.971 |
3739.044 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2082.507 |
965.819 |
|
|
|
Stores & Spares |
NA |
88.139 |
48.567 |
|
|
|
Capital Goods |
NA |
71.848 |
109.119 |
|
|
|
Trading Goods |
NA |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
2242.494 |
1123.505 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
26.44 |
6.75 |
28.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.56
|
0.94
|
4.49
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.18
|
1.36
|
6.65
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.86
|
1.65
|
7.91
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.06
|
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.60
|
2.21
|
2.13
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.13
|
1.16
|
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 |
83.622 |
83.622 |
83.622 |
|
Reserves & Surplus |
1166.249 |
1198.387 |
1395.227 |
|
Net
worth |
1249.871 |
1282.009 |
1478.849 |
|
|
|
|
|
|
long-term borrowings |
378.031 |
364.423 |
103.096 |
|
Short term borrowings |
2282.086 |
2469.136 |
2263.120 |
|
Total
borrowings |
2660.117 |
2833.559 |
2366.216 |
|
Debt/Equity
ratio |
2.128 |
2.210 |
1.600 |
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 |
5,303.309 |
6,012.575 |
6,202.430 |
|
|
|
13.374 |
3.158 |
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
|
5,303.309 |
6,012.575 |
6,202.430 |
|
Profit |
238.789 |
56.434 |
221.137 |
|
|
4.50% |
0.94% |
3.57% |
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
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 |
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 |
OPERATIONS AND FUTURE
PROSPECTS
The Company has performed satisfactorily during the year under consideration; Net Sales has gone up to Rs.6122.300 Millions against Rs.5950.400 Millions compared to previous year and Net profit after tax increase to Rs. 221.100 Millions against Rs.56.400 Millions compared to previous year. The Net sales increased by 2.89 % during the current year as compared with previous year in value terms and the sales in quantity is slightly decrease by 0.42%, as compared with previous year.
FUTURE PROSPECTS
The Company is focusing on developing the new markets in South American Countries, Japan, Korea and Thailand. Further they are developing the High Nickel Alloy Wires for oil and Gas Industries. Company is also planning to enter in to Power Trading through Power Exchange of India Limited. (PXIL) to get the advantage of demand and supply of power, to minimize the Power Cost. Therefore, Company will have edge over their competitors. They will have the benefit of latest Technology used by the Company.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Intercorporate borrowings |
0.226 |
62.382 |
|
|
|
|
|
Total |
0.226 |
62.382 |
INDEX OF CHARGES
|
S.no. |
Charge id |
Date of charge
creation/modification |
Charge amount
secured |
Charge holder |
Address |
Service request
number (srn) |
|
1 |
90098705 |
20/07/2013 * |
3,900,000,000.00 |
BANK OF BARODA |
ASHRAM ROAD
BRANCH, VALLABH SADAN, OPP. NATRAJ CI NEMA, AHMEDABAD, GUJARAT - 380009,
INDIA |
B80544554 |
|
2 |
90098129 |
26/12/1996 * |
41,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT
CORPORATION OF INDIA |
163;BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· 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 records 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.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
49 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.