MIRA
INFORM REPORT
|
Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
C S CASTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village Kumbhteh Amloh
Road, Mandi Gobindgarh –
147301, Punjab, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.10.2000 |
|
|
|
|
Com. Reg. No.: |
024010 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.220 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27105PB2000PTC024010 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and exporter of alloy steel (admite),
s.g.i. rolls, steel casting, s.s.
casting and steel ingot in all grades. |
|
|
|
|
No. of Employees
: |
Not Available |
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 275784 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track. Profitability of the company appears to be low. However, trade relations are fair. Business is active. Payments 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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures to
curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing
attacks during the third quarter, according to a study by RSA. India ranks
fourth in the list of nations hit by phishing
attacks. The US remained at the top of the charts. Phishing
is the process of acquiring information such as user names, passwords and
credit card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 BY
|
Name : |
Mr. Amrinder Singh |
|
Designation : |
--- |
|
Contact No.: |
91-9888800029 |
|
Date : |
14.12.2013 |
LOCATIONS
|
Registered Office : |
Village Kumbhteh Amloh
Road, Mandi Gobindgarh –
147301, Punjab, India |
|
Tel. No.: |
91-1765-255308 / 320129 |
|
Fax No.: |
91-1765-252129 |
|
Email : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Chanan Singh Matharoo |
|
Designation : |
Director |
|
Address : |
C/o Calcutta House, G.T. Road, Model Town, Mandi
Gobindgarh – 147301, Punjab, India |
|
Date of Appointment : |
09.10.2000 |
|
|
|
|
Name : |
Mr. Jagmel Singh Matharoo |
|
Designation : |
Director |
|
Address : |
C/o Calcutta House, G.T. Road, Model Town, Mandi
Gobindgarh – 147301, Punjab, India |
|
Date of Appointment : |
09.10.2000 |
|
DIN No.: |
01117573 |
|
|
|
|
Name : |
Mr. Jaswinder Singh Matharoo |
|
Designation : |
Director |
|
Address : |
C/o Calcutta House, G.T. Road, Model Town, Mandi
Gobindgarh – 147301, Punjab, India |
|
Date of Appointment : |
09.10.2000 |
|
DIN No.: |
01117365 |
|
|
|
|
Name : |
Mr. Ajmer Singh Matharoo |
|
Designation : |
Director |
|
Address : |
C/o Calcutta House, G.T. Road, Model Town, Mandi
Gobindgarh – 147301, Punjab, India |
|
Date of Appointment : |
09.10.2000 |
|
|
|
|
Name : |
Mr. Karamvir Singh Matharoo |
|
Designation : |
Director |
|
Address : |
C/o Calcutta House, G.T. Road, Model Town, Mandi
Gobindgarh – 147301, Punjab, India |
|
Date of Appointment : |
09.10.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Chanan Singh Matharoo |
|
12500 |
|
Jagmail Singh Matharoo |
|
14200 |
|
Jaswinder Singh Matharoo |
|
14300 |
|
Ajmer Singh Matharoo |
|
15500 |
|
Karamvir Singh Matharoo |
|
6500 |
|
Amar Kaur |
|
7000 |
|
Baljit Kaur |
|
10000 |
|
Beant Kaur |
|
4000 |
|
Lakhbir Kaur |
|
2000 |
|
Guriqbal Singh |
|
16000 |
|
Dharmvir Singh |
|
8000 |
|
Amrinder Singh |
|
6000 |
|
Chanan Singh (HUF) Through Chanan
Singh (Karta) |
|
6000 |
|
Total
|
|
122000 |
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and exporter of alloy steel (admite),
s.g.i. rolls, steel casting, s.s.
casting and steel ingot in all grades. |
GENERAL INFORMATION
|
No. of Employees : |
Not divulged |
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Bankers : |
·
Central Bank of India, G. T. Road, Mandi Gobindgarh – 147301,
Punjab, India |
|||||||||||||||||||||||||||||||||
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Facilities : |
|
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|
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|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil K. Aggarwal and Associates Chartered Accountant |
|
Address : |
Loha Bazar, Mandi Gobindgarh – 147301,
Punjab, India |
|
Tel. No.: |
91-1628-226669 |
|
PAN No. : |
ABIPA5136G |
|
|
|
|
Associates/Subsidiaries : |
--- |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1.220
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 |
1.220 |
1.220 |
1.220 |
|
(b) Reserves & Surplus |
3.916 |
11.277 |
10.543 |
|
(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) |
5.136 |
12.497 |
11.763 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
20.314 |
21.851 |
17.443 |
|
(b) Deferred tax liabilities (Net) |
1.606 |
1.606 |
1.826 |
|
(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) |
21.920 |
23.457 |
19.269 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
14.288 |
11.371 |
18.698 |
|
(c) Other current
liabilities |
26.977 |
20.237 |
10.739 |
|
(d) Short-term provisions |
0.625 |
1.309 |
0.674 |
|
Total Current Liabilities (4) |
41.890 |
32.917 |
30.111 |
|
|
|
|
|
|
TOTAL |
68.946 |
68.871 |
61.143 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
17.387 |
20.135 |
22.918 |
|
(i)
Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
5.643 |
5.643 |
3.786 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
23.030 |
25.778 |
26.704 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
24.948 |
30.873 |
19.093 |
|
(c) Trade receivables |
9.819 |
4.054 |
6.170 |
|
(d) Cash and cash
equivalents |
4.976 |
7.346 |
8.298 |
|
(e) Short-term loans and
advances |
6.109 |
0.726 |
0.763 |
|
(f) Other current assets |
0.064 |
0.094 |
0.115 |
|
Total Current Assets |
45.916 |
43.093 |
34.439 |
|
|
|
|
|
|
TOTAL |
68.946 |
68.871 |
61.143 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
244.352 |
|
323.629 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
244.352 |
285.164 |
323.629 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
2.822 |
2.812 |
3.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(7.352) |
1.140 |
1.168 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.009 |
0.628 |
0.533 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(7.361) |
0.512 |
0.635 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(3.01)
|
0.17 |
0.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.66)
|
1.65 |
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10)
|
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.29
|
0.31 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.30 |
1.14 |
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 |
---------------------- |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
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% |
No |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
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 |
No |
|
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 |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27105PB2000PTC024010 |
|
Name of the
company |
C S CASTINGS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Village Kumbhteh Amloh
Road, Mandi Gobindgarh –
147301, Punjab, India |
|
This form is for |
Creation
of charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Central Bank of India, G. T. Road, Mandi Gobindgarh – 147301, Punjab, India Email - bmludh0323@centralbank.co.in |
|
Nature of
instrument creating charge |
Bank guarantee
agreement for bank guarantee by central bank of india
to the national small industries corporation limited |
|
Date of
instrument Creating the charge |
14.03.2013 |
|
Amount secured by
the charge |
Rs. 11.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest as per terms of
guarantee agreement Terms of
Repayment on demand Margin cash margin of
25% Extent and
Operation of the charge 100% Others --- |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
For bank
guarantee: stock purchase from bank guarantee EM of property
measuring 7 bigha 14 biswa
land in the name of the company situated at village kumbh,
tehsil amloh, mandi gobindgarh vide sale deed
no. 1498 dated 02.11.2000 EM of property measuring
3 bigha land in the name of the company situated at
village kumbh, tehsil amloh, mandi gobindgarh vide sale deed no. 1499 dated 02.11.2000 EM of 10 bigha factory land & building of the company situated
at village kumbh,tehsil amloh,
mandi gobindgarh vide
sale deed no.1702 dated 10.11.2004 Gurantee of directors chanan singh matharoo, jagmel singh matharoo, jaswinder singh matharoo,ajmer singh matharoo, karamvir singh matharoo in their individual capacity |
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 records 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. 62.40 |
|
|
1 |
Rs.102.53 |
|
Euro |
1 |
Rs.85.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Report Prepared
by : |
NLM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.