MIRA INFORM REPORT
|
Report Date : |
08.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
IMPEX FERRO TECH LIMITED |
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Registered
Office : |
35, Chittaranjan Avenue, 4th Floor, Kolkata – 700012, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.06.1995 |
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Com. Reg. No.: |
21-071996 |
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Capital
Investment / Paid-up Capital : |
Rs.815.966 Millions |
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CIN No.: [Company Identification
No.] |
L27101WB1995PLC071996 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on the
Stock Exchanges. |
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Line of Business
: |
The Subject is mainly in the business of Manufacturing and Sales of
Ferro-Alloys and Trading in Iron and Steel Products. |
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No. of Employees
: |
238 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 3700000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management has reported a loss from its operations during FY14. However, trade relations seem to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating=B+ (Suspended) |
|
Rating Explanation |
Having high risk of default regarding timely servicing of financial obligation. |
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Date |
22.10.2014 |
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Rating Agency Name |
CARE |
|
Rating |
Long term rating=A4 (Suspended) |
|
Rating Explanation |
Having minimal degree of safety regarding timely payment of financial obligation it carry very high credit risk and susceptible to default. |
|
Date |
22.10.2014 |
NOTE: The ratings has been suspended as the company
has not furnished the information required for monitoring.
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 DENIED
Management Non Co-operative (91-33-22110225)
LOCATIONS
|
Registered Office : |
35, Chittaranjan Avenue, 4th Floor, Kolkata – 700012, West |
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Tel. No.: |
91-33-22110225/ 22110226/ 40640021/ 40640022 |
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Fax No.: |
91-33-40640020 |
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E-Mail : |
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Website : |
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Corporate Office : |
SKP House, 132A, S.P.
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Tel. No.: |
91-33-40168000/ 8100 |
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Fax No.: |
91-33-40168189/ 8107 |
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E-Mail : |
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Factory : |
Kadavita Dendua Road, P. O. Kalyaneshwari, P. S. Kulti, Burdwan –
713369 West Bengal, India |
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Tel. No.: |
91-341-2522248 / 49 |
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Fax No.: |
91-341-2522961 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Suresh Kumar Patni |
|
Designation : |
Chairman cum Managing Director |
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Name : |
Mr. Ankit Patni |
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Designation : |
Non-Executive Director |
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Date of Birth/Age : |
13.01.1985 |
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Qualification : |
M.B.A from University of Technology, Sydney, CFA from ICFAI University. |
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Date of Appointment : |
28.03.2011 |
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|
Name : |
Mr. Satish Kumar Singh |
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Designation : |
Independent and Non-Executive Director |
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Date of Birth/Age : |
20.12.1985 |
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Qualification : |
B. Tech (Electrical and Electronic Engineering) |
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Date of Appointment : |
24.08.2012 |
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Name : |
Mr. Ashok Kumar Jain |
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Designation : |
Independent and Non-Executive Director |
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Date of Birth/Age : |
09.01.1960 |
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Qualification : |
B. Com |
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Date of Appointment : |
11.06.2008 |
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Name : |
Mr. Jay Shanker Shukla |
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Designation : |
Independent and Non-Executive Director |
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Name : |
Mr. Santosh Kumar Khandelwal |
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Designation : |
Independent and Non-Executive Director |
KEY EXECUTIVES
|
Name : |
Ms. Mamata Chakraborty |
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Designation : |
Company Secretary |
SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
851800 |
1.04 |
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|
53578046 |
65.66 |
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|
54429846 |
66.71 |
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Total shareholding of Promoter and Promoter Group (A) |
54429846 |
66.71 |
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(B) Public Shareholding |
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|
12990180 |
15.92 |
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|
9114333 |
11.17 |
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|
4887666 |
5.99 |
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|
174579 |
0.21 |
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|
123700 |
0.15 |
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|
100 |
0.00 |
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|
50779 |
0.06 |
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|
27166758 |
33.29 |
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Total Public shareholding (B) |
27166758 |
33.29 |
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Total (A)+(B) |
81596604 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
81596604 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is mainly in the business of Manufacturing and Sales of
Ferro-Alloys and Trading in Iron and Steel Products. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
238 (Approximately) |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
R. Kothari & Company Chartered Accountants |
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Address : |
16A, Shakespeare Sarani, Kolkata – 700071, West Bengal, India |
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Membership : |
-- |
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Enterprises owned or
significantly influenced by the Key Managerial Personnel or their relatives
: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
82500000 |
Equity Shares |
Rs. 10/- each |
Rs.825.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
81596604 |
Equity Shares |
Rs. 10/- each |
Rs.815.966 Millions |
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Reconciliation on of the shares outstanding at the beginning and at the
end of the report ng period
|
Name of
Shareholder |
Number
of Shares |
Rs. In Millions |
|
At the Beginning of the Period |
67471604 |
674.716 |
|
Issued During the Period |
14125000 |
141.250 |
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At the End of
the Period |
81596604 |
815.966 |
Terms/Rights attached to Equity Shares
The Company has
only one class of equity shares having a par value of Rs.10 per share. Each holder
of equity shares is entitled to one vote per share. The Company declares and
pays dividends in Indian Rupees. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders in the ensuing Annual
General Meeting. However, no dividend has been proposed by the Board for the
current year. In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the Company after
distribution of all preferential amount. The distribution will be in proportion
to the number of equity shares held by the shareholders.
Details of shareholders holding more than 5% shares in the Company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Suanvi Trading & Investment Co.
Private Limited |
15073046 |
18.47 |
|
Vasupujya Enterprises Private Limited |
10600000 |
12.99 |
|
Poddar Mech Tech Services Private Limited |
10633750 |
13.03 |
|
Invesco Finance Private Limited |
10871250 |
13.32 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
815.966 |
674.716 |
674.716 |
|
(b) Reserves & Surplus |
492.363 |
900.613 |
860.990 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1308.329 |
1575.329 |
1535.706 |
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(3)
Non-Current Liabilities |
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|
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|
(a) long-term borrowings |
786.054 |
1163.405 |
1276.715 |
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(b) Deferred tax liabilities (Net) |
0.000 |
109.787 |
87.805 |
|
(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) |
786.054 |
1273.192 |
1364.520 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1578.657 |
851.894 |
641.293 |
|
(b) Trade
payables |
1653.369 |
1809.993 |
1608.602 |
|
(c) Other
current liabilities |
671.356 |
496.893 |
486.460 |
|
(d) Short-term
provisions |
0.000 |
13.230 |
12.497 |
|
Total Current
Liabilities (4) |
3903.382 |
3172.010 |
2748.852 |
|
|
|
|
|
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TOTAL |
5997.765 |
6020.531 |
5649.078 |
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1948.044 |
2035.629 |
2046.650 |
|
(ii)
Intangible Assets |
1.047 |
1.585 |
1.223 |
|
(iii)
Capital work-in-progress |
4.289 |
5.420 |
43.629 |
|
(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 |
2.445 |
10.349 |
11.189 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1955.825 |
2052.983 |
2102.691 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
1256.128 |
1575.053 |
1680.693 |
|
(b)
Inventories |
1931.626 |
1464.752 |
1293.855 |
|
(c) Trade
receivables |
260.847 |
323.216 |
218.775 |
|
(d) Cash
and cash equivalents |
558.184 |
505.606 |
216.722 |
|
(e)
Short-term loans and advances |
35.155 |
98.921 |
136.342 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4041.940 |
3967.548 |
3546.387 |
|
|
|
|
|
|
TOTAL |
5997.765 |
6020.531 |
5649.078 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6980.221 |
6414.694 |
5263.939 |
|
|
|
Other Income |
62.968 |
27.309 |
55.651 |
|
|
|
TOTAL (A) |
7043.189 |
6442.003 |
5319.590 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2032.711 |
2250.881 |
3349.128 |
|
|
|
Purchase of Stock-in-trade |
4077.444 |
2764.449 |
961.394 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
10.492 |
(167.905) |
(43.122) |
|
|
|
Employee Benefits Expenses |
43.723 |
26.725 |
21.647 |
|
|
|
Other Expenses |
1059.447 |
1034.088 |
681.784 |
|
|
|
TOTAL (B) |
7223.817 |
5908.238 |
4970.831 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(180.628) |
533.765 |
348.759 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
359.647 |
357.760 |
242.948 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(540.275) |
176.005 |
105.811 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
117.700 |
114.235 |
45.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(657.975) |
61.770 |
60.368 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(109.423) |
22.147 |
24.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(548.552) |
39.623 |
35.855 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
538.357 |
498.734 |
462.879 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(10.195) |
538.357 |
498.734 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY ON F.O.B. |
1715.777 |
2043.267 |
1047.202 |
|
|
|
|
|
|
|
|
|
|
IMPORTS – RAW
MATERIALS |
918.484 |
964.326 |
634.493 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(7.47) |
0.59 |
0.69 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(7.86) |
0.62 |
0.68 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(2.59) |
8.32 |
6.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.98) |
1.03 |
1.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.50) |
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.81 |
1.28 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.25 |
1.29 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
674.716 |
674.716 |
815.966 |
|
Reserves & Surplus |
860.990 |
900.613 |
492.363 |
|
Net
worth |
1535.706 |
1575.329 |
1308.329 |
|
|
|
|
|
|
long-term borrowings |
1276.715 |
1163.405 |
786.054 |
|
Short term borrowings |
641.293 |
851.894 |
1578.657 |
|
Total
borrowings |
1918.008 |
2015.299 |
2364.711 |
|
Debt/Equity
ratio |
1.249 |
1.279 |
1.807 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
5263.939 |
6414.694 |
6980.221 |
|
|
|
21.861 |
8.816 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
5263.939 |
6414.694 |
6980.221 |
|
Profit |
35.855 |
39.623 |
-548.552 |
|
|
0.68% |
0.62% |
-7.86% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
FINANCIAL AND OPERATIONAL REVIEW
During the year the Company has achieved nets sales/income from operation of Rs.6980.221 Millions as against Rs.6414.694 Millions in previous year registering a growth of 8.82%. In spite of increase in revenue from operation the Company has incurred a net loss of Rs.548.552 Millions which is mainly attributed to depressed market for ferro alloys impacting the net realization and margin. Weaker domestic demand and slower growth in several key market, mining crises and uncontrolled inflation in the country has resulted in increase in the cost of raw materials and other overhead which could not be passed on the consumers.
CHANGES IN SHARE CAPITAL
During the year, the Company has allotted 1,41,25,000 Equity Shares of Rs. 10/- each on preferential basis at a premium of Rs.10/- per share aggregating to Rs. 14,12,50,000/-to the entities belonging to Promoter Group and Strategic Investors belonging to Non-Promoters Group.
Consequent to said allotment, the paid up Share Capital of the Company stood increased to Rs. 81,59,66,000/-. The entire proceeds received from the preferential allotment has been utilized towards the object of the issue.
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
|
From Bodies Corporate |
668.324 |
923.562 |
|
|
|
|
|
Total |
668.324 |
923.562 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10259443 |
16/06/2012
* |
2,480,000,000.00 |
STATE
BANK OF INDIA(LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B41936626 |
|
2 |
10177128 |
31/08/2009 |
347,500,000.00 |
UNITED
BANK OF INDIA |
CHITTARANJAN
AVENUE BRANCH,, 16, CHITTARANJAN AVE |
A70397971 |
|
3 |
10037736 |
16/06/2012
* |
2,993,600,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B43143973 |
|
4 |
10037733 |
30/12/2006 |
610,000,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST BENGAL -
700017, INDIA |
A10836179 |
|
5 |
80040691 |
25/01/2012
* |
1,413,100,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B34395798 |
|
6 |
90244925 |
05/04/2005 |
577,500,000.00 |
STATE
BANK OF INDIA |
INDUASTRIAL
FINACE BRANCH, 11; DR. UN BRAHMACHARI STREET, KOLKATA, WEST BENGAL - 700012,
INDIA |
- |
|
7 |
90248725 |
07/01/2005 |
277,500,000.00 |
BANK
OF BARODA |
33
C.R. AVENUE, KOLKATA, WEST BENGAL - 700012, INDIA |
- |
|
8 |
90248172 |
24/09/2005
* |
69,000,000.00 |
BANK
OF BARODA |
33
C.R. AVENUE, KOLKATA, WEST BENGAL - 700012, INDIA |
- |
|
9 |
90248084 |
25/06/2010
* |
909,800,000.00 |
BANK
OF BARODA |
C.
R. AVENUE (SOUTH) BRANCH, 33, C. R. AVENUE BRANCH, KOLKATA, WEST BENGAL –
700012, INDIA |
A89357685 |
|
10 |
90245324 |
25/03/2009
* |
622,500,000.00 |
PUNJAB
NATIONAL BANK |
C. R.
AVENUE BRANCH, 31, CITTARANJAN AVENUE, KOLKATA, WEST BENGAL - 700012, INDIA |
A60477569 |
|
11 |
90247821 |
30/05/2005
* |
39,100,000.00 |
STATE
BANK OF INDIA |
INDUASTRIAL
FINACE BRANCH, 11; DR. UN BRAHMACHARI STREET, KOLKATA, WEST BENGAL - 700012, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Freehold Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Software
PRESS RELEASE
IMPEX FERRO
TECH CLARIFIES ON INCREASE IN PRICE
With reference
to Increase in Price, Impex Ferro Tech Limited has clarified to BSE that
"the operation of the Company is going on normally and we do not have any
information/announcements which have a bearing on the price/volume behavior in
the script."
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.85 |
|
UK Pound |
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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.