MIRA
INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RASHMI METALIKS LIMITED |
|
|
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|
Formerly Known
As : |
RASHMI METALIKS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
30.01.2004 |
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Com. Reg. No.: |
21-097737 |
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Capital
Investment / Paid-up Capital : |
Rs. 418.750 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB2004PLC097737 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALR06417F |
|
|
|
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PAN No.: [Permanent Account No.] |
AACCR7183E |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer,
Exporter and Importer of Pig Iron, Sinter, TMT, Billets, Ductile Iron Pipe,
Wire rod, Sponge Iron and also engaged in Power Generation. |
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|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 44000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is a part of “Rashmi Group”. It is established company having
a satisfactory track record. The rating reflects enhanced financial performance with strong
business risk profile supported by adequate liquidity position and well integrated
business operations. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered normal for business dealing at usual
trade terms and conditions. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under control,
said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up
from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the
scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
16.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
16.01.2014 |
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Anil Mohta |
|
Designation : |
General Manager Finance |
|
Contact No.: |
91-9836874499 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Premlata Building, 39, Shakespeare Sarani, 6th Floor, Kolkata -
700017, West Bengal, India |
|
Tel. No.: |
91-33-22894255/ 56 |
|
Fax No.: |
91-33-22894254 |
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E-Mail : |
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Website : |
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Area: |
5000 Sq ft |
|
Location: |
Rented |
|
|
|
|
Factory : |
Gokulpur, PO: Shyamraipur, District West Midanapore, West Bengal,
India |
|
Area: |
50 Acers |
|
Location: |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Surendra Jha |
|
Designation : |
Director |
|
Address : |
Ward – 15, P.S., District – Midnapur, Jhargram – 721507, West Bengal,
India |
|
Date of Birth/Age : |
05.07.1953 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
02.01.2010 |
|
PAN No.: |
AKNPJ8666N |
|
DIN No.: |
02911139 |
|
|
|
|
Name : |
Mr. Salil Roy |
|
Designation : |
Director |
|
Address : |
Mauja – Bachhurdoba (Part) J.L. No. 394, 11 Part, Jhargram – 721507,
West Bengal, India |
|
Date of Birth/Age : |
10.11.1964 |
|
Date of Appointment : |
05.01.2012 |
|
DIN No.: |
03302526 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Patwari |
|
Designation : |
Additional Director |
|
Address : |
29.08.1979 |
|
Date of Birth/Age : |
P O. Jhargram, Jhargram, Midnapore – 721503, West Bengal, India |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
06621247 |
KEY EXECUTIVES
|
Name : |
Mr. Lal Babu Chourasia |
|
Designation : |
Secretary |
|
Date of Appointment : |
31.08.2013 |
|
PAN No.: |
AEOPC3358R |
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|
|
|
Name : |
Mr. Anil Mohta |
|
Designation : |
General Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
99.97 |
|
Directors or relatives of Directors |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Pig Iron, Sinter, TMT,
Billets, Ductile Iron Pipe, Wire rod, Sponge Iron and also engaged in Power
Generation. |
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Products : |
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Exports : |
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Products : |
·
TMT Wire ·
Rods |
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Countries : |
·
Bangladesh ·
Nepal ·
Algeria |
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Imports : |
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Products : |
·
Coke ·
Coal |
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Countries : |
·
China ·
South Africa |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity Qty-M/T |
|
Pig Iron |
176840.00 |
|
Sinter |
288000.00 |
|
Ms Ingot & Ms Billet |
150000.00 |
|
TMT |
120000.00 |
|
|
|
Note: Since the Industry in which the Company
Operates is de-licensed, the requirement for disclosure of Licensed Capacity is
not applicable
|
Particulars |
Actual
Production * Qty-M/T |
|
Pig iron |
83098.33 |
|
MS Runner Scrap |
3288.13 |
|
Granulated Slag |
27754.66 |
|
MS Billet |
74205.87 |
|
MS Ingot |
-- |
|
Sinter |
85006.83 |
|
TMT |
4595.71 |
*including goods consumed captively
GENERAL INFORMATION
|
Suppliers : |
·
Glencore International, Switzerland ·
Rungta Mines Limited |
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Customers : |
Wholesalers and Retailers ·
Anwar Ispat, Bangladesh |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
· State Bank of India (Security Trustee), Commercial Branch, Kolkata, 24, Park Street, Kolkata - 700016, West Bengal, India · DBS Bank Limited, 221, Fort House, 3rd Floor, D.N. Road, Fort, Mumbai - 400001, Maharashtra, India · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · The Hongkong And Shanghai Banking Corporation Limited, Hongkong House, 31 B B D Bag, Kolkata - 700001, West Bengal, India ·
UCO Bank, Flagship Corporate Branch, Mcloed
House, 3, Netaji Subhas Road, Kolkata - 700001, West Bengal, India ·
Punjab National Bank, Large Corporate Branch ·
Corporation Bank, Corporate Park Branch ·
Bank of Baroda, India Exchange Branch ·
State Bank of Mysore, Rash Behari Avenue
Branch |
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Facilities : |
Fund Base: Rs. 2500.000 Millions Non Fund: Rs. 1800.000 millions
|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
SKV and Company Chartered Accountants |
|
Address : |
32, Ezra Street, Todi Corner, 8th floor, Room No – 807,
Kolkata, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABWFS1414K |
|
|
|
|
Enterprises over which Key Management Personnel and
/ or their relatives have significant influence : |
Ř Rashmi Cement
Limited [U14107WB1991PLC053043] Ř Bohra G and NN
Brothers Private Limited [U67190WB1981PTC033517] Ř Rashmi Iron
Industries Private Limited [U27102WB2004PTC100058] Ř Sursadhana
Sponge and Ispat Private Limited [U27109WB2006PTC108858] Ř Orissa Metaliks
Private Limited [U27109WB2006PTC111146] Ř Kalinga Metalics
Limited [U27103WB2007PLC112959] Ř Rosemary Sponge
and Ispat Private Limited [U27109WB2006PTC108848] Ř Orissa Khanij
Private Limited [U27205WB2007PTC112958] Ř Image Vinimay
Limited [U51109WB1993PLC060165] Ř Rashmi
Infrastructure Private Limited [U70101WB2006PTC111143] Ř Rashmi Energy
Limited [U23101WB2007PLC120701] Ř Rashmi Float
Glass Limited [U26100WB2007PLC117705] Ř Guru Ganesh
Finance (India) Limited [U6-5191WB1994PLC130344] Ř Consortium
Enterprises Private Limited [U51909WB1995PTC070694] Ř Krish Vanijya
Private Limited [U51109WB2007PTC113517] Ř Patwari and Sons |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42500000 |
Equity Shares |
Rs.10/- each |
Rs. 425.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41875023 |
Equity Shares |
Rs.10/- each |
Rs. 418.750
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 |
418.750 |
353.611 |
308.834 |
|
(b) Reserves & Surplus |
10471.630 |
8796.661 |
6517.788 |
|
(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) |
10890.380 |
9150.272 |
6826.622 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1243.939 |
1597.554 |
250.313 |
|
(b) Deferred tax liabilities (Net) |
544.800 |
397.657 |
256.800 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.964 |
6.195 |
7.363 |
|
Total Non-current Liabilities (3) |
1796.703 |
2001.406 |
514.476 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2225.843 |
1090.625 |
2218.960 |
|
(b) Trade payables |
751.811 |
1149.955 |
1031.160 |
|
(c) Other current
liabilities |
490.943 |
833.432 |
667.174 |
|
(d) Short-term provisions |
15.962 |
58.980 |
29.119 |
|
Total Current Liabilities (4) |
3484.559 |
3132.992 |
3946.413 |
|
|
|
|
|
|
TOTAL |
16171.642 |
14284.670 |
11287.511 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8052.932 |
4698.510 |
3318.321 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
1349.580 |
4029.306 |
2494.045 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
25.536 |
25.536 |
25.536 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.00 |
|
(d) Long-term Loan and Advances |
374.718 |
419.919 |
467.988 |
|
(e) Other Non-current assets |
63.942 |
63.942 |
0.000 |
|
Total Non-Current Assets |
9866.708 |
9237.213 |
6305.890 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2749.033 |
2051.086 |
2129.100 |
|
(c) Trade receivables |
1784.167 |
1574.308 |
544.915 |
|
(d) Cash and cash
equivalents |
246.806 |
143.460 |
170.648 |
|
(e) Short-term loans and
advances |
1506.814 |
1265.375 |
1991.376 |
|
(f) Other current assets |
18.114 |
13.228 |
145.582 |
|
Total Current Assets |
6304.934 |
5047.457 |
4981.621 |
|
|
|
|
|
|
TOTAL |
16171.642 |
14284.670 |
11287.511 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11050.248 |
9997.322 |
14660.470 |
|
|
|
Other Income |
23.438 |
80.872 |
148.335 |
|
|
|
TOTAL (A) |
11073.686 |
10078.194 |
14808.805 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6315.870 |
6452.044 |
10106.329 |
|
|
|
Purchases of stock-in-trade |
951.603 |
895.940 |
663.166 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
5.974 |
(1.720) |
37.536 |
|
|
|
Employee benefit expense |
157.219 |
97.353 |
90.339 |
|
|
|
Other expenses |
2552.888 |
1806.441 |
2751.367 |
|
|
|
TOTAL (B) |
9983.554 |
9250.058 |
13648.737 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1090.132 |
828.136 |
1160.068 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
365.238 |
257.092 |
195.736 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
724.894 |
571.044 |
964.332 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
400.127 |
280.358 |
205.340 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
324.767 |
290.686 |
758.992 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
213.143 |
205.857 |
149.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
111.624 |
84.829 |
609.729 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
|
|
8428.824 |
|
|
TOTAL EARNINGS |
NA |
NA |
8428.824 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
499.591 |
|
|
|
Stores, Spares & Consumables |
|
|
4.907 |
|
|
|
Capital Goods |
|
|
706.179 |
|
|
|
Trading Goods |
|
|
202.957 |
|
|
TOTAL IMPORTS |
NA |
NA |
1413.634 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.16 |
2.75 |
21.74 |
|
Expected Sales (2013-2014) : Rs.12000.000 Millions
The above information has been parted by Mr. Anil Mohta (General Manager
Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.01
|
0.84 |
4.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.94
|
2.91 |
5.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.19
|
2.84 |
8.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.03 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.32
|
0.29 |
0.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.61 |
1.26 |
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 |
308.834 |
353.611 |
418.75 |
|
Reserves & Surplus |
6517.788 |
8796.661 |
10471.63 |
|
Net
worth |
6,826.622 |
9,150.272 |
10,890.380 |
|
|
|
|
|
|
long-term borrowings |
250.313 |
1597.554 |
1243.939 |
|
Short term borrowings |
2218.96 |
1090.625 |
2225.843 |
|
Total
borrowings |
2,469.273 |
2,688.179 |
3,469.782 |
|
Debt/Equity
ratio |
0.362 |
0.294 |
0.319 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
14660.470 |
9997.322 |
11050.248 |
|
|
|
(31.808) |
10.532 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
14660.470 |
9997.322 |
11050.248 |
|
Profit |
609.729 |
84.829 |
111.624 |
|
|
4.16% |
0.85% |
1.01% |
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
LITIGATION DETAILS
CALCUTTA
HIGH COURT
CASE STATUS INFORMATION SYSTEM
Case
Status : Pending
|
Status of CIVIL SUITS (CS) 25 of 2014
SONEKO MARKETING PRIVATE LIMITED Vs. RASHMI METALIKS LIMITED Pet's Adv. : JURIS CONSULTUS Res's Adv. : Court No. : 18 Last Listed On : Thursday, January 16, 2014 Category : MONEY CLAIMS/COMPENSATION/DAMAGES/MESNE PROFITS
Case Updated on: Friday, January 24, 2014 |
Note:
The Registered office of the company has been
shifted from 1 Garstin Place, Room No. 3B 3rd Floor, Kolkata – 700001,
West Bengal, India to the present address w .e .f .24.08.2006
BUSINESS PERFORMANCE
During the Year Company has reported a Turnover of Rs. 11876.022 Millions and Earning before Interest. Tax and Depreciation stands on Rs. 1066.694 Millions. The Profit before Tax and after Tax remains Rs. 324.768 Millions and Rs 11162.400 Millions respectively.
Financial Year 20l2-2013 was a challenging year in which Global as well as Indian economy witnessed lower economic growth. Rising inflation, depreciating currency and rising cost of inputs were the buzz word during the year under Report. Despite these constraint and-challenges the company has manage growth of 32% in PAT since last financial year. Whereas the company’s Revenue from operations has increased from Rs.10477.740 Millions in 2011-12 to Rs 11876.022 Millions in 2012-2013, an increase of 13% due to sale of iron ore pellets.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term borrowings |
|
|
|
Loans and advances from related parties |
307.169 |
0.000 |
|
|
|
|
|
Total |
307.169 |
0.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10450552 |
20/09/2013 |
970,000,000.00 |
STATE BANK OF INDIA (SECURITY TRUSTEE) |
COMMERCIAL
BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B85554590 |
|
2 |
10307484 |
28/07/2011 |
480,000,000.00 |
DBS BANK LIMITED |
221, FORT HOUSE,
3RD FLOOR, D.N.ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B21084645 |
|
3 |
10305756 |
19/07/2011 |
1,000,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH,
44 PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B20303194 |
|
4 |
10294481 |
04/06/2011 |
550,000,000.00 |
BANK OF BARODA |
INDIA EXCAHNGE
BRANCH, 4, INDIA ECHANGE PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
B15941255 |
|
5 |
10256594 |
24/03/2011 * |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA
- |
B12482071 |
|
6 |
10231973 |
10/06/2010 |
300,000,000.00 |
CORPORATION BANK |
ARMENIAN STREET
BRANCH, 17, BRABOURNE ROAD BRANCH, KOLKATA, WEST BENGAL - 700001, INDIA |
A90571910 |
|
7 |
10200394 |
30/12/2010 * |
4,098,200,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH,
KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B03265709 |
|
8 |
10200393 |
19/01/2010 |
1,032,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL
BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A78739422 |
|
9 |
10148787 |
10/03/2009 |
100,000,000.00 |
STANDARD CHARTERED BANK |
19, N. S. ROAD,
KOLKATA, WEST BENGAL - 700001, INDIA |
A58481128 |
|
10 |
10134088 |
08/12/2008 |
390,000,000.00 |
PUNJAB NATIONAL BANK |
SHAKESPEARE SARANI
BRANCH, 52A, SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700017, INDIA |
A53037453 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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.62.12 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--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 |
|
47 |
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.