MIRA
INFORM REPORT
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHARP FERRO ALLOYS LIMITED |
|
|
|
|
Registered
Office : |
Muza Kamalpur, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.07.1990 |
|
|
|
|
Com. Reg. No.: |
21-093185 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.148.660 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101WB1990PLC093185 |
|
|
|
|
IEC No.: |
0598034897 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS14866F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS8998M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Ferro Alloys and Steel Products. |
|
|
|
|
No. of Employees
: |
700 (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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
BBB- (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
04.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 (Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
04.02.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Gurvinder |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-343-2564187 |
|
Date : |
20.06.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Mauza – Kamalpur, Nachan Road, Kamalpur,
Durgapur – 713204, West Bengal, India |
|
Tel. No.: |
91-343-2564187/ 2562776/ 2544079 |
|
Fax No.: |
91-343-2562776 |
|
Email: |
|
|
Web Site: |
|
|
|
|
|
Head Office : |
301-302, Time House, 5 - Commercial Complex, Wazirpur Industrial
Area, New Delhi – 110052, India |
|
Tel. No.: |
91-11-27377131 |
|
Fax No.: |
91-11-27377130 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located At ·
Thane ·
Ahmedabad ·
Haryana ·
Punjab ·
Bellary ·
Gajuwaka ·
Jammu ·
Bhillai ·
Nagpur ·
Kolkata |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Lakshmi Narayan Gupta |
|
Designation : |
Director |
|
Address : |
7 – E, Dimpal Court, 26, |
|
Date of Appointment : |
17.08.2006 |
|
DIN No.: |
00856808 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current designation
of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U27101WB1990PLC093185 |
SHARP FERRO
ALLOYS LIMITED |
Whole-time
director |
01/10/2010 |
17/08/2006 |
Active |
NO |
|
2 |
U27100DL2010PLC202583 |
SHARP FERRO
ALLOYS (VIZAG) LIMITED |
Director |
12/05/2010 |
12/05/2010 |
Active |
NO |
|
Name : |
Mrs. Kamla Devi |
|
Designation : |
Director |
|
Address : |
A -255, Derawal Nagar, |
|
Date of Birth/Age : |
03.11.1934 |
|
Date of Appointment : |
20.04.2009 |
|
DIN No.: |
02650633 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current designation
of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U17290DL1995PLC071542 |
ASIA PACIFIC
GLOBEX LIMITED |
Director |
26/09/2009 |
20/04/2009 |
Active |
NO |
|
2 |
U27101WB1990PLC093185 |
SHARP FERRO
ALLOYS LIMITED |
Director |
22/09/2009 |
20/04/2009 |
Active |
NO |
|
3 |
U27100DL2010PLC202583 |
SHARP FERRO
ALLOYS (VIZAG) LIMITED |
Director |
12/05/2010 |
12/05/2010 |
Active |
NO |
|
4 |
U27109DL2004PTC125134 |
SHARP ISPAT
PRIVATE LIMITED |
Director |
15/05/2010 |
15/05/2010 |
Active |
NO |
|
Name : |
Mr. Tushar Rawat |
|
Designation : |
Managing Director |
|
Address : |
A -255, Derawal Nagar, |
|
Date of Birth/Age : |
18.08.1981 |
|
Date of Appointment : |
05.07.2003 |
|
DIN No.: |
00512880 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date of appointment
at current designation |
Original date of
appointment |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U27101WB1990PLC093185 |
SHARP FERRO
ALLOYS LIMITED |
Managing
director |
01/10/2009 |
05/07/2003 |
- |
Active |
NO |
|
2 |
U27101DL2005PTC131779 |
ALLIANCE FERRO
TECH PRIVATE LIMITED |
Director |
03/01/2005 |
03/01/2005 |
27/08/2008 |
Active |
NO |
|
3 |
U17290DL1995PLC071542 |
ASIA PACIFIC
GLOBEX LIMITED |
Director |
10/10/2005 |
10/10/2005 |
- |
Active |
NO |
|
4 |
U27100DL2010PLC202583 |
SHARP FERRO
ALLOYS (VIZAG) LIMITED |
Director |
12/05/2010 |
12/05/2010 |
- |
Active |
NO |
|
5 |
U27109DL2004PTC125134 |
SHARP ISPAT
PRIVATE LIMITED |
Director |
15/05/2010 |
15/05/2010 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kailash Chandra Lath |
10 |
|
Naresh Kumar Dawar |
10 |
|
Amrit Pal |
10 |
|
Narendra Khanna |
10 |
|
Atul Bagla |
10 |
|
Oprk Ferro Alloys Limited, India |
537000 |
|
Asia Pacific Globex Limited, India
|
5631000 |
|
Naresh Rawat |
130000 |
|
Musha Trading and Exports Private Limited, India |
2517120 |
|
Om Parkash Rawat HUF |
633605 |
|
Tushar Rawat |
2120940 |
|
Neelam Rawat |
604335 |
|
Somaya Rawat |
128950 |
|
Sheela Rawat |
714000 |
|
Sunshine Vinimay Private Limited, India |
1089000 |
|
Kamla Devi |
760000 |
|
TOTAL
|
14866000 |
AS ON 26.10.2013
|
Names of Allottees |
No. of Shares |
|
Asia Pacific Globex Limited, India
|
520000 |
|
TOTAL |
520000 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
65.75 |
|
Directors or relatives of Directors |
34.25 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Ferro Alloys and Steel Products. |
||||
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|
|
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|
Products : |
|
||||
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|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
Japan |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
South Africa |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C, and Credit |
GENERAL INFORMATION
|
No. of Employees : |
700 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Oriental Bank of Commerce, Nachan Road, Benachity, Durgapur – 713213, West Bengal, India · The Bank of Rajasthan Limited, Gurudwara Road, Karol Bagh, New Delhi – 110005, India · Bank of India (Lead Bank), New Delhi Corporate Banking Branch, 37, Shaheed Bhagat Singh Marg, Connaught Place, New Delhi – 110001, India ·
State Bank of Bikaner and Jaipur, CNW Branch ,
Barakhamba Road, New Delhi, - 110001,India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P C Bindal and Company Chartered Accountants |
|
Address : |
101, |
|
Tel. No.: |
91-11-23549822 / 23 |
|
Fax No.: |
91-11-23623829 |
|
E-Mail : |
|
|
PAN.: |
AAAFP9359H |
|
|
|
|
Associates : |
Gunjan Ispat
Private Limited CIN NO.:- U27101DL1996PTC080040 Lmet Alloys India
Private Limited CIN NO.:- U74899DL1994PTC058701 Oprk Ferro
Alloys Limited CIN NO.:- U67190DL1996PLC076532 |
|
|
|
|
Subsidiaries : |
Sharp Ferro
Alloys (Vizag) Limited CIN NO.:- U27100DL2010PLC202583 |
|
|
|
|
Other Related Parties : |
Asia Pacific Globex
Limited CIN NO.:- U17290DL1995PLC071542 |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15500000 |
Equity Shares |
Rs.10/- each |
Rs. 155.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14866000 |
Equity Shares |
Rs.10/- each |
Rs. 148.660
Millions |
|
|
|
|
|
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15500000 |
Equity Shares |
Rs.10/- each |
Rs. 155.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15386000 |
Equity Shares |
Rs.10/- each |
Rs. 153.860 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 |
148.660 |
148.660 |
147.840 |
|
(b) Reserves & Surplus |
522.245 |
447.048 |
373.176 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
29.400 |
|
Total
Shareholders’ Funds (1) + (2) |
670.905 |
595.708 |
550.416 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
113.666 |
132.507 |
165.784 |
|
(b) Deferred tax liabilities (Net) |
77.480 |
75.382 |
71.539 |
|
(c) Other long term liabilities |
0.332 |
0.021 |
0.191 |
|
(d) long-term provisions |
3.751 |
4.144 |
2.014 |
|
Total Non-current Liabilities (3) |
195.229 |
212.054 |
239.528 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
377.249 |
328.595 |
425.549 |
|
(b) Trade payables |
245.476 |
362.389 |
475.800 |
|
(c) Other current
liabilities |
479.662 |
377.072 |
372.198 |
|
(d) Short-term provisions |
32.336 |
22.920 |
21.870 |
|
Total Current Liabilities (4) |
1134.723 |
1090.976 |
1295.417 |
|
|
|
|
|
|
TOTAL |
2000.857 |
1898.738 |
2085.361 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
574.161 |
592.290 |
614.078 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
131.056 |
116.355 |
101.725 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
12.300 |
11.300 |
9.600 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
39.866 |
14.575 |
6.742 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
757.383 |
734.520 |
732.145 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
448.755 |
547.866 |
724.570 |
|
(c) Trade receivables |
412.223 |
374.435 |
332.955 |
|
(d) Cash and cash
equivalents |
93.726 |
76.124 |
92.330 |
|
(e) Short-term loans and
advances |
246.493 |
137.236 |
171.346 |
|
(f) Other current assets |
42.277 |
28.557 |
32.015 |
|
Total Current Assets |
1243.474 |
1164.218 |
1353.216 |
|
|
|
|
|
|
TOTAL |
2000.857 |
1898.738 |
2085.361 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4007.725 |
3369.928 |
3038.941 |
|
|
|
Other Income |
28.517 |
15.438 |
130.052 |
|
|
|
TOTAL (A) |
4036.242 |
3385.366 |
3168.993 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1265.671 |
1252.376 |
1484.015 |
|
|
|
Purchase of Stock In Trade |
1585.434 |
1123.339 |
983.982 |
|
|
|
Employee benefits expenses |
48.245 |
43.743 |
29.865 |
|
|
|
Other Expenses |
816.873 |
695.648 |
667.759 |
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
100.069 |
42.079 |
(222.670) |
|
|
|
TOTAL (B) |
3816.292 |
3157.185 |
2942.951 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
219.950 |
228.181 |
226.042 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
69.605 |
85.267 |
88.702 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
150.345 |
142.914 |
137.340 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.234 |
37.577 |
36.208 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
112.111 |
105.337 |
101.132 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.914 |
34.745 |
32.888 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
75.197 |
70.592 |
68.244 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2159.793 |
1386.130 |
1623.167 |
|
|
TOTAL EARNINGS |
2159.793 |
1386.130 |
1623.167 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
369.870 |
355.249 |
355.741 |
|
|
TOTAL IMPORTS |
369.870 |
355.249 |
355.741 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
5.06 |
4.77 |
4.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.86
|
2.09 |
2.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.80
|
3.13 |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.04
|
5.95 |
5.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.18 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.73
|
0.77 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.07 |
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
147.840 |
148.660 |
148.660 |
|
Reserves & Surplus |
373.176 |
447.048 |
522.245 |
|
Net
worth |
521.016 |
595.708 |
670.905 |
|
|
|
|
|
|
long-term borrowings |
165.784 |
132.507 |
113.666 |
|
Short term borrowings |
425.549 |
328.595 |
377.249 |
|
Total
borrowings |
591.333 |
461.102 |
490.915 |
|
Debt/Equity
ratio |
1.135 |
0.774 |
0.732 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
3038.941 |
3369.928 |
4007.725 |
|
|
|
10.892 |
18.926 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
3038.941 |
3369.928 |
4007.725 |
|
Profit |
68.244 |
70.592 |
75.197 |
|
|
2.25% |
2.09% |
1.88% |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Term Loans from Banks |
5.441 |
16.847 |
|
Intercorporate Deposits |
82.650 |
44.850 |
|
|
|
|
|
TOTAL |
88.091 |
61.697 |
INDEX OF CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10471340 |
26/12/2013 |
135,000,000.00 |
Bank of India (Lead Bank) |
New Delhi Mid Corporate Branch, 37, Saheed Bhagat |
B93941953 |
|
2 |
10160866 |
16/05/2009 * |
279,500,000.00 |
Bank of India (Lead Bank) |
New Delhi Corporate Banking Branch, 37, Shaheed Bhagat Singh Marg, Connaught
Place, New Delhi, Delhi - 110001, India |
A63698187 |
|
3 |
10160864 |
26/12/2013 * |
850,000,000.00 |
Bank of India (Lead Bank) |
New Delhi Mid Corporate Branch, 37, Saheed Bhagat |
B93938181 |
|
* Date of charge modification |
||||||
OPERATIONS AND RESULT
The Company has
produced 34183.670 MT of Ferro Alloys during the year 2012-2013 as against
31422.967 MT in the previous year. The Company did not produced any quantity of
Mild Steel during the year 2012-2013 also. The net turnover during the year was
Rs. 4007.725 Millions as against Rs. 3369.928 Millions during the previous year
which was largely on account of increase in merchandise export business of the
company during the year. The Company expects to maintain the growth in business
in the current year also despite general slow down on account of higher sales
realizations and good market conditions. The Net profit of Company also
registered an increase to Rs. 75.197 Millions for year ended 31.03.2013 as
against that of Rs. 70.592 Millions during the previous year.
FIXED ASSETS
· Land and site development
· Building
· Plant and machinery
· Electric Installation
· Electric Saving Devices
· Furniture and fixtures
· Electrical Equipment and fitting
· Furniture and Fixtures
· Vehicles
· Office equipment
·
Computers
· Borewell
· Lab equipment
· Pay Loader
· Pollution Control
· Equipment
·
Weigh bridge
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.60.50 |
|
|
1 |
Rs.100.33 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
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.