MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

WESTERN METAL INDUSTRIES PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

PAN No.:

[Permanent Account No.]

AAACW7017L

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

300 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Aluminium Circles, Sheets, Strips, Slugs etc.

 

 

Products :

ITC Code

Products or Services

76169910

ALUMINIUM SLUG

 

 

GENERAL INFORMATION

 

No. of Employees :

300 (Approximately)

 

 

Bankers :

Bank of Baroda (Gen Next Branch), Adams Court Opposite Mahabaleshwar Hotel, Baner Road Aundh, Pune - 411045, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

Rupee term loans from banks

61.415

58.630

 

 

 

Short Term Borrowings

 

 

Other loans and advances

152.477

96.225

 

 

 

Total

213.892

154.855

 

 

UNSECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

Deposits

7.775

7.877

Loans and advances from related parties

84.397

66.470

 

 

 

Total

92.172

74.347

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

RMR Shah and Company

Chartered Accountants

Address :

Shop No.308/309, F Wing, Mega Centre, Hadapsar, Pune-411028, Maharashtra, India

PAN No.:

AAJFR0709G

 

 

Associates :

·         Western Aluminium Industries

·         Anudeep Alu-Cast Private Limited

·         Mintaka

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 26.09.2013

 

Names of Shareholders

 

No. of Shares

Chandravandan V. Gandhi Karta of Chandravadan V. Gandhi (HUF)

1098000

Vasantlal C. Shah Karta of Vasantlal Chimanlal Shah (HUF)

669600

Prashant Champaklal Shah Karta of Champaklal Mohanlal Shah (HUF)

237600

Hemen K. Shah Karta of Hemen K Shah HUF

244800

Anuj Chandravadan Gandhi

900000

Chintan A. Shah Karta of Arvindkumar Mohanlal Shah HUF

812250

Krushna Champaklal Shah

392400

Vipul Vasantlal Shah

59400

Hemen Kaushik Shah

296316

Kokilaben V. Shah

90000

Veenaben S. Shah

90000

Prashant C. Shah

360000

Pinky P. Shah

92250

Renuka A. Shah

180000

Chintan A. Shah

90000

Vasantlal C. Shah

263250

Alpa Nirav Sangani J/W Avani Nitul Parikh

541134

Veenaben Sureshchandra Shah J/W Ajay Sureshchandra Shah

81000

Veenaben Sureshchandra Shah J/W Ajay Sureshchandra Shah

81000

Veenaben Sureshchandra Shah J/W Ajay Sureshchandra Shah

81000

 

 

TOTAL

6660000

 

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

66.600

66.600

66.600

(b) Reserves & Surplus

89.896

85.138

66.276

(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)

156.496

151.738

132.876

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

153.587

132.978

91.524

(b) Deferred tax liabilities (Net)

3.818

3.382

4.256

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

157.405

136.360

95.780

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

152.477

96.224

59.802

(b) Trade payables

137.786

49.290

70.707

(c) Other current liabilities

25.753

18.723

14.416

(d) Short-term provisions

3.870

3.883

6.260

Total Current Liabilities (4)

319.886

168.120

151.185

 

 

 

 

TOTAL

633.787

456.218

379.841

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

226.202

154.154

148.126

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

4.810

28.489

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

21.958

30.008

7.387

Total Non-Current Assets

252.970

212.651

155.513

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

7.281

6.720

11.259

(b) Inventories

89.892

32.551

41.709

(c) Trade receivables

219.256

161.468

124.070

(d) Cash and cash equivalents

4.508

11.187

20.700

(e) Short-term loans and advances

52.078

25.957

23.025

(f) Other current assets

7.802

5.684

3.565

Total Current Assets

380.817

243.567

224.328

 

 

 

 

TOTAL

633.787

456.218

379.841

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

Income

 

1207.172

980.157

 

 

Other Income

 

 

 

 

 

TOTAL                                    

1480.300

1207.172

980.157

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

 

1118.079

880.150

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

1467.600

1118.079

880.150

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

Including finance

89.093

100.007

 

 

and deprecation

 

 

Less

FINANCIAL EXPENSES                        

 

30.244

19.329

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

58.849

80.678

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

 

25.050

11.452

 

 

 

 

 

 

Prior Period Adjustments

 

0.000

0.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

12.700

33.799

69.226

 

 

 

 

 

Less

TAX                                                                 

4.055

11.010

23.058

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

8.645

22.789

46.168

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

92.835

70.105

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

1.30

3.42

--

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office / Factory  :

251/1A and B, Hadapsar Industrial Estate, Hadapsar, Pune-411013, Maharashtra, India

Tel. No.:

91-20-26870164 / 26875054

Fax No.:

91-20-26870464

E-Mail :

dinesh@westernaluminium.com

Website :

www.westernaluminium.com

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.