|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MINEX METALLURGICAL COMPANY LIMITED (w.e.f. 17.12.2011) |
|
|
|
|
Formerly Known
As : |
MINEX METALLURGICAL COMPANY PRIVATE LIMITED |
|
|
|
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Registered
Office : |
301, Rajguru Apartments, 3RD Floor, New |
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Country : |
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|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
31.03.1981 |
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Com. Reg. No.: |
11-024161 |
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Capital
Investment / Paid-up Capital : |
Rs.80.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1981PLC024161 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22448G /
MUMM22482F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM7315B |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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|
|
|
Line of Business
: |
Subject engaged in the manufacture and sale of Specialty
Alloys for use by the Iron and Steel Industry. |
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|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4900000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Company has perfumed well. Overall financial position of the company
appears to be strong and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal 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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to retain
100 per cent foreign direct investment in both greenfield (new) and brown field
(existing) pharmaceutical companies, despite concerns over genetic drugs going
out of production, if multi-national companies take over domestic ones. In
M&A deals, a non compete clause would not be allowed, except in special
circumstances. The Department of Industrial Policy and Promotion plans to
release the next edition of its consolidated foreign direct investment policy
document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India committee
has recommended setting up a special category of lenders who would cater to
small businesses and households, to expand the number of customers with access
to banking services. These banks would focus onproviding payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account
in mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Fund Based Limits = A- |
|
Rating Explanation |
Adequate credit quality and average credit
risk |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Non Fund Based Limits = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
March 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 DENIED
Management Non-Cooperative (Tel No.: 91-22-28362166)
LOCATIONS
|
Registered/ Head Office : |
301, Rajguru Apartments, 3rd Floor, New |
|
Tel. No.: |
91-22-28362166 / 28215703 / 28370349 / 28982020 |
|
Mobile No.: |
91-9833745167 (Mr. Murli Mahadevan) |
|
Fax No.: |
91-22-28377369 |
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E-Mail : |
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|
Website : |
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|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
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|
D-41/42, MIDC Industrial Area, |
|
Tel. No.: |
91-7104-237907/ 234434 |
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Fax No.: |
91-7104-236745 |
|
E-Mail : |
|
|
|
|
|
Kalmeshwar – Plant : |
B-401/1, MIDC Industrial Area, Kalmeshwar, Nagpur – 441501,
Maharashtra, India |
|
Tel. No.: |
91-7118-27168/9 |
|
Fax No.: |
91-7118-271496 |
|
E-Mail : |
|
|
|
|
|
Nimji – Plant : |
68/3, Nimji, Tahsil Kalmeshwar, District |
|
Tel. No.: |
91-7118-238304 |
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Fax No.: |
91-7118-238304 |
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E-Mail : |
|
|
|
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|
Sales Office |
3/6, Shivaji Durgapur, Burdwan - 713204, West |
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Tel. No.: |
91-343-2572095 |
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Fax No.: |
91-343-2568413 |
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E-Mail : |
|
|
|
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Factory : |
K-6, Butibori Industrial Area, Nagpur - 441112, Maharashtra, India |
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|
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Branch Office : |
Located at · Durgapur Kolkata Pune |
DIRECTORS
As on 08.08.2013
|
Name : |
Mr. Sukhendu Bikas Misra |
|
Designation : |
Chairman and Managing Director |
|
Address : |
301, Belscot Tower, 1st Lokandwala Complex, |
|
Date of Birth/Age : |
19.06.1946 |
|
Date of Appointment : |
31.03.1981 |
|
PAN No. : |
AASPM5071D |
|
DIN : |
00105418 |
|
|
|
|
Name : |
Mr. Anantharaman Mahadevan |
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Designation : |
Director |
|
Address : |
A-1, 2nd Floor, New |
|
Date of Birth/Age : |
06.03.1947 |
|
Date of Appointment : |
30.12.1985 |
|
DIN No.: |
00165226 |
|
|
|
|
Name : |
Ms. Rakhi Sukhendu Bikas Misra |
|
Designation : |
Director |
|
Address : |
301, Belscot Tower, 1st Lokandwala Complex, |
|
Date of Birth/Age : |
17.04.1953 |
|
Date of Appointment : |
01.04.1996 |
|
PAN No. : |
AGVPM7955P |
|
DIN : |
00353033 |
|
|
|
|
Name : |
Mr. Dilip Keshavlal Patel |
|
Designation : |
Director |
|
Address : |
15 Neel Shobha, 4th Floor, |
|
Date of Birth/Age : |
20.10.1947 |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00013150 |
|
|
|
|
Name : |
Mr. Mukul Tagore |
|
Designation : |
Director |
|
Address : |
503, Benhut ‘A’ Lokhandwala complex, |
|
Date of Birth/Age : |
03.01.1946 |
|
Date of Appointment : |
31.03.1981 |
|
DIN No.: |
00353182 |
|
|
|
|
Name : |
Mr. Vaidyanathan Narayan |
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Designation : |
Director |
|
Address : |
5, Nai Roshini, Charat singh Colony, Andheri (East), Mumbai – 400093, |
|
Date of Birth/Age : |
24.12.1940 |
|
Date of Appointment : |
23.06.1992 |
|
DIN : |
00495534 |
KEY EXECUTIVES
|
Name : |
Mr. Murali Mahadevan |
|
Designation : |
Company Secretary |
|
Address : |
H – 003, Shimpoli Niranjan Co-operative Housing Society Limited,
Chikuwadi, Shimpoli, Borivali (West), Mumbai – 400092, |
|
Date of Birth/Age : |
01.10.1963 |
|
Date of Appointment : |
01.08.2005 |
|
PAN No.: |
ACBPM8585F |
|
|
|
|
Name : |
Ms. Shreya Mishra |
|
Designation : |
Manager |
|
Address : |
301/302, Belscot Tower, Lokhanwala Complex, Andheri (West), Mumbai –
400058, |
|
Date of Birth/Age : |
24.07.1976 |
|
Date of Appointment : |
01.03.2011 |
|
PAN No.: |
AEFPM8004F |
MAJOR SHAREHOLDERS
As on 08.08.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 08.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
90.84 |
|
Other |
9.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the manufacture and sale of Specialty
Alloys for use by the Iron and Steel Industry. |
||||
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management
|
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Bankers : |
·
Canara
Bank, Itwari, Nagpur - 440002, Maharashtra, India Indusind Bank Limited, Nagpur Branch,1 Shriram Shyam
Towers, Near Nit Building, Kingsway, Nagpur - 440001, Maharashtra, India Standard Chartered Bank, 90, M G Road, Fort, Mumbai -
400001, Maharashtra, India Yes Bank Limited, 9th Floor, Nehru Centre,
Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018,
Maharashtra, India Standard Chartered Bank, Crescenzo, 3 A/F, Plot No. C-38
& 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051,
Maharashtra, India ICICI Bank
Limited DBS Bank Limited, 4A, Nandlal
Basu Sarani, Kolkata - 700071, West Bengal, India |
|||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M. Kalahasthi and Company Chartered Accountants |
|
Address : |
601 Laxmi Villa, K A Subramanian Road, Matunga, Mumbai – 400019, Maharashtra, India |
|
PAN No. : |
AFNPM8274J |
|
|
|
|
Associate : |
Minex Foundation |
CAPITAL STRUCTURE
As on 08.08.2013
Authorised 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 |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 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 |
80.000 |
80.000 |
80.000 |
|
(b) Reserves & Surplus |
1138.340 |
995.520 |
869.060 |
|
(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) |
1218.340 |
1075.520 |
949.060 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
112.880 |
135.610 |
44.370 |
|
(b) Deferred tax liabilities (Net) |
30.310 |
35.790 |
32.910 |
|
(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) |
143.190 |
171.400 |
77.280 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1000.110 |
1018.530 |
898.180 |
|
(b) Trade payables |
281.470 |
226.090 |
115.420 |
|
(c) Other current
liabilities |
151.600 |
104.740 |
65.480 |
|
(d) Short-term provisions |
32.140 |
21.240 |
21.640 |
|
Total Current Liabilities (4) |
1465.320 |
1370.600 |
1100.720 |
|
|
|
|
|
|
TOTAL |
2826.850 |
2617.520 |
2127.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
454.800 |
344.340 |
299.040 |
|
(ii) Intangible Assets |
0.190 |
0.790 |
0.670 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
43.910 |
|
(iv)
Intangible assets under development |
53.660 |
94.110 |
0.000 |
|
(b) Non-current Investments |
0.050 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.570 |
21.720 |
20.420 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
530.270 |
460.970 |
364.050 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
781.720 |
897.700 |
767.360 |
|
(c) Trade receivables |
1099.210 |
845.180 |
625.470 |
|
(d) Cash and cash
equivalents |
184.750 |
188.680 |
195.180 |
|
(e) Short-term loans and advances |
228.650 |
223.060 |
175.000 |
|
(f) Other current assets |
2.250 |
1.930 |
0.000 |
|
Total Current Assets |
2296.580 |
2156.550 |
1763.010 |
|
|
|
|
|
|
TOTAL |
2826.850 |
2617.520 |
2127.060 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
4600.500 |
4390.480 |
3234.380 |
|
|
|
|
Other Income |
31.830 |
21.530 |
10.070 |
|
|
|
|
TOTAL (A) |
4632.330 |
4412.010 |
3244.450 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
3621.850 |
3536.310 |
2699.690 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
49.520 |
(76.850) |
(95.290) |
|
|
|
|
Employee Benefits Expenses |
131.760 |
111.310 |
85.810 |
|
|
|
|
Other Expenses |
436.590 |
516.070 |
236.170 |
|
|
|
|
Prior period items |
3.470 |
0.000 |
0.000 |
|
|
|
|
TOTAL (B) |
4243.190 |
4086.840 |
2926.380 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
389.140 |
325.170 |
318.070 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
115.610 |
74.670 |
39.030 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
273.530 |
250.500 |
279.040 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
32.510 |
27.610 |
22.800 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
241.020 |
222.890 |
256.240 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
74.470 |
72.790 |
86.520 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
166.550 |
150.100 |
169.720 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.270 |
3.420 |
2.010 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
150.000 |
120.000 |
145.000 |
|
|
|
|
Dividend |
8.000 |
8.000 |
8.000 |
|
|
|
|
Proposed final Dividend |
12.000 |
12.000 |
12.000 |
|
|
|
|
Tax on Dividend |
3.340 |
3.250 |
3.310 |
|
|
|
BALANCE CARRIED TO
THE B/S |
3.480 |
10.270 |
3.420 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
1262.660 |
764.020 |
245.230 |
|
|
|
TOTAL EARNINGS |
1262.660 |
764.020 |
245.230 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
1837.370 |
1943.650 |
1175.370 |
|
|
|
TOTAL IMPORTS |
1837.370 |
1943.650 |
1175.370 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
20.82 |
18.76 |
21.22 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.60 |
3.40 |
5.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.24 |
5.08 |
7.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.69 |
8.83 |
12.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.21 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.91 |
1.07 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57 |
1.57 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
0.000 |
0.000 |
0.000 |
|
Total |
0.000 |
0.000 |
0.000 |
|
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 |
No |
|
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 |
Yes |
|
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 |
|
|
|
Deferred payment
liability |
38.240 |
40.220 |
|
Short Term Borrowings |
|
|
|
Deferred sales
tax loans |
1.850 |
1.560 |
|
Deposits from
shareholders |
2.580 |
3.580 |
|
Total |
42.670 |
45.360 |
FINANCIAL PERFORMANCE
The company
recorded Profit after Tax (PAT) of Rs.166.550 Millions in 2012-13 as compare to
Rs.150.100 Millions in the year 2011-12. The Profit before Tax (PBT) stood at
Rs.241.020 Millions as against Rs.222.890 Millions in 2011-12.
OPERATIONS
In spite of
challenging economic environment in domestic and international market during
the financial year of 2012-13, The Company focused in the areas of
opportunities and growth. There Kalmeshwar plant recorded the highest ever
sales. In spite of sluggish international market there export sales recorded
the best ever sales and grew at over 66%. The modernized plants at Nagpur,
Kalmeshwar and Nimji are equipped to offer value added products and Just in
Time supply to their customers. The new products developed for steel, foundry
and aluminum industries was established in the market.
As look at the
year 2013-14, domestic economy is still in the midst of slowdown but it seems
to have bottomed out. Euro Zone and American economy are still struggling for
stability. In current scenario we expect domestic and export market to remain
muted at the current levels. In view of these challenges have declared year
2013-14 as the Year of New Opportunities and this would act as a guiding
principle for all their operation and various changes happening in the
organization.
NEW INITIATIVES
During the year, the
company continued with expansion and modernization of the facilities in all the
3 plants under operation in the following areas:
a)
Hingna: Installation of dust extractions system at
melting, casting and sizing section. Modernization of ladle metallurgy and
casting process. Stabilization of sizing, screening and automatic packing
section.
b)
Kalmeshwar: Stabilisation of fully reengineered
facility and installation of balancing equipment as and where required.
Completion of project for Ferro alloy sizing and lead granulation. Installation
of automatic density control in cored wire lines.
c)
Nimji: Enhancing the capacity of scrap processing.
Min Tab alloy production and enhancing the capacity of Ferro Titanium 70 grade
alloy.
PERFORMANCE HIGHLIGHTS:
Despite of
challenges in the business environment, the company’s sales during the year
were Rs.5146.890 Millions (Rs.4987.240 millions). Given the current global
scenario, it is a positive achievement that we have managed a nominal increase
in sales value.
The company
Recorded Profit after Tax (PAT) of Rs.166.550 Millions in 2012-13 as compare to
Rs.150.100 Millions in the year 2011-12, a 10.95% increase. The Profit before
Tax (PBT) stood at Rs.241.020 Millions as against Rs.222.890 Millions in
2011-12, an 8.13% increase.
However, The Sales
Volume decreased to 29,413 MT against previous years 30,855 MT registering a
fall of 4.67 % mainly due to sharp recession in the Foundry Industry and
readjustment of product mix.
The Company has
shown remarkable growth in exports of 66%.The Exports during the year were
Rs.1295.690 Millions against previous year’s Rs.778.710 Millions.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10465771 |
29/11/2013 |
200,000,000.00 |
DBS Bank Limited |
4A, Nandlal Basu Sarani,
Kolkata, West Bengal - 700071, INDIA |
B91800094 |
|
2 |
10385088 |
05/11/2012 |
315,000,000.00 |
AXIS BANK LIMITED |
131, Maker Towers 'F' 13th
Floor, Cuffe Parade, Colaba, Mumbai, Maharashtra - 400005, India |
B61595872 |
|
3 |
10359296 |
29/05/2012 |
300,000,000.00 |
ICICI BANK LIMITED |
Landmarkrace Cource Circle,
Alkapuri, Baroda, Gujarat - 390015, India |
B41071838 |
|
4 |
10319187 |
10/10/2011 |
100,000,000.00 |
Standard Chartered Bank |
Crescenzo, 3 A/F, Plot No.
C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra
- 400051, India |
B25873274 |
|
5 |
10297090 |
19/07/2011 |
200,000,000.00 |
YES BANK LIMITED |
9th Floor, Nehru Centre,
Discovery Of India, Dr. |
B16827123 |
|
6 |
10101387 |
27/09/2011 * |
600,000,000.00 |
Standard Chartered Bank |
Crescenzo, 3 A/F, Plot No.
C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra
- 400051, India |
B23184450 |
|
7 |
80048608 |
26/12/2008 * |
900,000,000.00 |
CANARA BANK |
Itwari, Nagpur, Maharashtra -
440002, India |
A56565567 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and machinery
·
Furniture and Fixture
·
Computer
·
Vehicles
·
Office Equipment’s
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.62.32 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.