MIRA INFORM REPORT

Report Date :

27.12.2014

IDENTIFICATION DETAILS

Name :	OMSAIRAM STEELS AND ALLOYS PRIVATE LIMITED

Registered Office :	Plot No. F and 2, Additional MIDC Area, Phase II, Jalna – 431203, Maharashtra

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	14.08.2003

Com. Reg. No.:	11-141764

Capital Investment / Paid-up Capital :	Rs.237.218 Millions

CIN No.: [Company Identification No.]	U27100MH2003PTC141764

TIN No.:	Not Available

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	AAACO6232H

Legal Form :	Private Limited Liability Company

Line of Business :	Manufacturer, trader and dealer of all kinds of alloys, steels alloys ferrous and non-ferrous metals and to carry on business in cold and hot rolling.

No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 810000

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Clear

Comments :	Subject is an established company having a moderate track record. Management of the company has not filed its latest financial i.e. 2014 with the government department. Asper the available financial of 2013, the reserves level of the company is low. Borrowing recorded by the company are huge. However, trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution. Note: Profit and Loss A/C of the company is not available.

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)

India

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = (A+)
Rating Explanation	High risk of default
Date	29.02.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A4
Rating Explanation	Minimal degree of safety. It carry very high credit risk.
Date	29.02.2014

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 (GENERAL DETAILS)

Name :	Mr. Nilesh
Designation :	Chief Executive Officer
Contact No.:	91-9822958857
Date :	27.12.2014

LOCATIONS

Registered Office :	Plot No. F and 2, Additional MIDC Area, Phase II, Jalna – 431203, Maharashtra, India
Tel. No.:	91-2482-221123
Mobile No.:	91-9822958857 (Mr. Nilesh)
Fax No.:	Not Available
E-Mail :	devendraring@gmail.com sales@umasteels.com
Website :	http://www.umasteels.com

Factory :	F 1,2,3,8,9,10, Phase II, Additional MIDC Area, Jalna – 431203, Maharashtra, India
Tel. No.:	91-2482-221233 / 220323
E-Mail :	91-2482-221123

DIRECTORS

As on 30.09.2013

Name :

Mr. Sanjeevkumar Biharilal Kabra

Designation :

Director

Address :

Gopi, Opposite Amit Apartment, Sardar Patel, Road, Jalna - 431203, Maharashtra, India

Date of Appointment :

05.08.2009

DIN No.:

00125414

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	U28900MH1980PTC022525	OMECH ENGINEERING COMPANY PRIVATE LIMITED	Director	30/07/1994	30/07/1994	-	Active	NO
2	U51909WB1995PTC068463	PAVILON COMMERCE PRIVATE LIMITED	Director	20/09/2008	23/02/2008	-	Active	NO
3	U27100MH2003PTC141764	OMSAIRAM STEELS AND ALLOYS PRIVATE LIMITED	Director	05/08/2009	05/08/2009	-	Active	NO
4	U74999MH2010PTC203510	KABRA BUSINESS CENTRE PRIVATE LIMITED	Director	28/05/2010	28/05/2010	05/06/2013	Active	NO

Name :

Mr. Dinesh Satyanarayan Bharuka

Designation :

Director

Address :

Umasadan Ajanta Nagar Jalna – 431203, Maharashtra, India

Date of Appointment :

20.10.2005

DIN No.:

00894477

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	U27100MH2004PTC149444	RUTUJA ISPAT PRIVATE LIMITED	Director	10/11/2004	10/11/2004	29/01/2009	Active	NO
2	U27100MH2003PTC141764	OMSAIRAM STEELS AND ALLOYS PRIVATE LIMITED	Director	20/10/2005	20/10/2005	-	Active	NO
3	U27100MH2006PTC159560	UMADEVI STEEL ALLOYS PRIVATE LIMITED	Director	07/02/2006	07/02/2006	-	Active	NO
4	U27107MH2007PTC174722	BHADRA MARUTI STEELS PRIVATE LIMITED	Director	04/08/2009	19/06/2008	-	Active	NO
5	U15139MH2007PTC167321	GEETA AGRO PRODUCTS PRIVATE LIMITED	Director	05/08/2009	20/06/2008	-	Active	NO
6	U27107MH2009PTC197188	GEETAI STEELS PRIVATE LIMITED	Additional director	23/03/2010	23/03/2010	28/05/2011	Active	NO

Name :

Mr. Rajendra Satyanayan Bharauka

Designation :

Director

Address :

Ajanta Nagar, Jalna - 431203, Maharashtra, India

Date of Appointment :

20.10.2005

DIN No.:

00894601

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	U27100MH2003PTC141764	OMSAIRAM STEELS AND ALLOYS PRIVATE LIMITED	Director	20/10/2005	20/10/2005	-	Active	NO
2	U27100MH2006PTC159560	UMADEVI STEEL ALLOYS PRIVATE LIMITED	Managing director	07/02/2006	07/02/2006	-	Active	NO
3	U27107MH2007PTC174722	BHADRA MARUTI STEELS PRIVATE LIMITED	Director	04/08/2009	19/06/2008	-	Active	NO
4	U15139MH2007PTC167321	GEETA AGRO PRODUCTS PRIVATE LIMITED	Director	05/08/2009	20/06/2008	-	Active	NO
5	U27107MH2009PTC197188	GEETAI STEELS PRIVATE LIMITED	Additional director	28/05/2011	28/05/2011	-	Active	NO
6	U27100MH2004PTC148360	GAYATRI ISPAT PRIVATE LIMITED	Director	23/07/2013	23/07/2013	-	Active	NO

Name :

Mr. Jawaharlal Shankarlal Dembada

Designation :

Director

Address :

1-5-992 Lakki Hom Rehman Ganj Chowk, Dhor Pura Jalna – 431203, Maharashtra, India

Date of Appointment :

18.07.2013

DIN No.:

03608335

KEY EXECUTIVES

Name :	Mr. Nilesh
Designation :	Chief Executive Officer

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders		No. of Shares
Rajendra S. Bharuka (Karta –Raj Bottle Company)		1751386
S. D. Bharuka		696585
Pritesh Bharuka		2372183
Renu R. Bharuka		3558274
Dinesh S. Bharuka (Karta – Dinesh Traders)		1167591
Dinesh S. Bharuka		3783193
Lokesh R. Bharuka		4020962
Rajendra S. Bharuka		2040407
Lokesh Bharuka (Satyam Traders)		489886
Santosh Dinesh Bharuka		1235662
Nilesh Dinesh Bharuka		2605701
Total		23721830

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, trader and dealer of all kinds of alloys, steels alloys ferrous and non-ferrous metals and to carry on business in cold and hot rolling.

Products :	Alloys Steels Alloys Ferrous and Non-Ferrous Metals

Brand Names :	--

Agencies Held :	--

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Cash and L/C

Purchasing :	Cash and L/C

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

No. of Employees :

150 (Approximately)

Bankers :

Banker Name	Union Bank of India
Branch Address	Pitti Complex, Nehru Road, Sarafa Bazar, Aurangabad - 431203, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
LONG TERM BORROWINGS
Rupee term loans from banks	259.836	129.738
Foreign currency term loans from bank	0.000	99.610
SHORT TERM BORROWINGS
Term loans from banks	361.366	351.651
Foreign currency term loans from banks	5.540	14.399
Other loans and advances, others	65.642	88.041
Total	692.384	683.439


Banking Relations :	--

Auditors :
Name :	Charkha and Associates Chartered Accountants
Address :	Banglow No. 11, Kasliwal Marble, Near MIT, Collegebeed By Pass Road, Mumbai, Maharashtra, India
PAN No.:	AAQPC2038J

Memberships :	--

Collaborators :	--

Associates :	Pavilon Commerce Private Limited CIN No.: U51909WB1995PTC06846 Geeta Agro Products Private Limited CIN No.: U15139MH2007PTC167321 Bhadra Maruti Steels Private Limited CIN No.: U27107MH2007PTC174722 Umadevi Steel Alloys Private Limited CIN No.: U27100MH2006PTC159560

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

25000000	Equity Shares	Rs. 10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

23721830	Equity Shares	Rs. 10/- each	Rs.237.218 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	237.218	142.218	81.268
(b) Reserves & Surplus	45.546	98.616	120.414
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	55.200
Total Shareholders’ Funds (1) + (2)	282.764	240.834	256.882

(3) Non-Current Liabilities
(a) long-term borrowings	642.168	384.737	284.870
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	642.168	384.737	284.870

(4) Current Liabilities
(a) Short term borrowings	432.548	454.091	364.063
(b) Trade payables	384.035	636.684	210.275
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	106.105	62.490	21.905
Total Current Liabilities (4)	922.688	1153.265	596.243

TOTAL	1847.620	1778.836	1137.995

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	868.009	690.268	481.271
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	68.110	270.392	133.079
(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	4.525	26.581	8.555
(e) Other Non-current assets	20.188	16.565	17.278
Total Non-Current Assets	960.832	1003.806	640.183

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	289.677	268.284	172.168
(c) Trade receivables	506.017	452.893	222.014
(d) Cash and cash equivalents	32.308	41.271	41.379
(e) Short-term loans and advances	0.000	0.000	0.000
(f) Other current assets	58.786	12.582	62.251
Total Current Assets	886.788	775.030	497.812

TOTAL	1847.620	1778.836	1137.995

KEY RATIOS

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
Debt Equity Ratio (Total Debt /Networth)	3.80	3.48	2.53

Current Ratio (Current Asset/Current Liability)	0.96	0.67	0.83

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	81.268	142.218	237.218
Reserves & Surplus	120.414	98.616	45.546
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	55.200	0.000	0.000
Net worth	256.882	240.834	282.764

Long Term borrowings	284.870	384.737	642.168
Short Term borrowings	364.063	454.091	432.548
Total borrowings	648.933	838.828	1074.716
Debt/Equity ratio	2.526	3.483	3.801

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)	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	No
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 LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
LONG TERM BORROWINGS
Intercorporate Deposits	228.879	35.244
Loans and advances from related parties	84.523	66.146
Loans and advances from others	68.930	53.999
Total	382.332	155.389

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90144803	21/02/2013 *	722,300,000.00	Union Bank of India	Pitti Complex, Nehru Road, Sarafa Bazar, Aurangabad, Maharashtra - 431203, India	B68534338

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.63.64
UK Pound	1	Rs.98.98
Euro	1	Rs.77.74

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	DIV

Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO

TOTAL		27

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

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.

MIRA INFORM REPORT

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