|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHANDAN STEEL LIMITED |
|
|
|
|
Registered
Office : |
504, Sukh Sagar,
N.S. Patkar Marg, Mumbai – 400 007,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.11.1989 |
|
|
|
|
Com. Reg. No.: |
11-054206 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 314.147 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1989PLC054206 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC03758G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC4713B
|
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Stainless Steel Products,
Pipe Fittings and Valves. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade relation reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered 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 – 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: BBB – (Suspended) |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
08.11.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
08.11.2013 |
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 PARTED BY
|
Name : |
Mr. Vinod Sharma |
|
Designation : |
General Manager in Accounts and Finance |
|
Contact No.: |
91-9833041563 |
|
Date : |
13.01.2014 |
LOCATIONS
|
Registered/ Head/ Administrative Office : |
504, Sukh Sagar,
N.S. Patkar Marg, Mumbai – 400 007,
Maharashtra, India |
|
Tel. No.: |
91-22-66290600 |
|
Mobile No.: |
91-9833041563 (Mr. Vinod Sharma) |
|
Fax No.: |
91-22-66290633/ 34 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
31, 32, 33B, 35 and 36, GIDC, Umbergaon, District Valsad – 396 171, Gujarat, India |
|
Tel. No.: |
91-260-2562066/ 4367/ 1166/ 3089999 |
|
Fax No.: |
91-260-2562287/ 0103/ 3089872 |
|
E-Mail : |
|
|
Area : |
200 Acres |
|
Location : |
Owned |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Chunilal Ghamandiram Chandan |
|
Designation : |
Chairman and Whole Time Director |
|
Address : |
504, Chandralok-A, 97, Nepean Sea Road, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
26.01.1938 |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
ADGPC1366E |
|
DIN No.: |
00260127 |
|
|
|
|
Name : |
Mr. Dilip Chunilal Chandan |
|
Designation : |
Managing Director |
|
Address : |
504, Chandralok-A, 97, Nepean Sea Road, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
01.01.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AAGPC2155A |
|
DIN No.: |
00259884 |
|
|
|
|
Name : |
Mr. Vijay Kumar Chunilal Chandan |
|
Designation : |
Joint Managing Director |
|
Address : |
504, Chandralok-A, 97, Nepean Sea Road, Mumbai – 400 006, Maharashtra,
India |
|
Date of Birth/Age : |
05.06.1967 |
|
Qualification : |
HSC |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AAGPC2153G |
|
DIN No.: |
00259988 |
|
|
|
|
Name : |
Mr. Prahalad Hargovind Acharya |
|
Designation : |
Whole-time Director |
|
Address : |
No.126/13, Garden View, Indulal Bhuva Marg, Wadala, Mumbai – 400 031,
Maharashtra, India |
|
Date of Birth/Age : |
29.09.1943 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
01.12.2004 |
|
DIN No.: |
00260284 |
|
|
|
|
Name : |
Mr. Prabhat Kumar Gopi Kaushik |
|
Designation : |
Whole-time Director |
|
Address : |
108, Afghan Street, P.O Jammu Tawi, Jammu Kashmir – 180 001, India |
|
Date of Birth/Age : |
17.07.1951 |
|
Date of Appointment : |
30.09.2006 |
|
PAN No.: |
ACWPK6029M |
|
DIN No.: |
00292959 |
|
|
|
|
Name : |
Mr. Jagdish Padmakant Joshipura |
|
Designation : |
Director |
|
Address : |
103, Vasundhara Flats, Near Pritam Nagar, Ellisbridge, Ahmedabad – 380
006, Gujarat, India |
|
Date of Birth/Age : |
05.03.1951 |
|
Qualification : |
Ph. D |
|
Date of Appointment : |
16.03.1997 |
|
DIN No.: |
00260590 |
|
|
|
|
Name : |
Mr. Pravin Chahanlal Jain |
|
Designation : |
Whole-time Director |
|
Address : |
301, 3rd Floor, Padmavati Darshan, A Wing, N.M. Joshi Marg,
Lower Parel, Mumbai - 400013, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1964 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
15.07.2007 |
|
PAN No.: |
AACPJ9872F |
|
DIN No.: |
00345045 |
|
|
|
|
Name : |
Mr. Anil Kumar Dhar |
|
Designation : |
Director |
|
Address : |
2-C, Shree Vijaya Bhavan, Altamount Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
10.09.1952 |
|
Qualification : |
MBA |
|
Date of Appointment : |
11.07.2008 |
|
DIN No.: |
01524239 |
|
|
|
|
Name : |
Mr. Hiten Mukundbhai Parikh |
|
Designation : |
Director |
|
Address : |
2-C, Shree Vijaya Bhavan, Altamount Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
17.08.1963 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
23.03.2010 |
|
DIN No.: |
01686215 |
KEY EXECUTIVES
|
Name : |
Mr. Jayant Vasant Gudekar |
|
Designation : |
Company Secretary |
|
Address : |
B-8, Plot No. 543, Susmruti Co- Operatuve Society, Sector-5, Kandivali
West, Mumbai- 400067, Maharashtra, India |
|
Date of Birth/Age : |
02.10.1979 |
|
Date of Appointment : |
01.08.2008 |
|
Pan No. : |
ALMPG9925H |
|
|
|
|
Name : |
Mr. Vinod Sharma |
|
Designation : |
General Manager in Accounts and Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Chunilal Ghamadiram Chandan |
|
2308830 |
|
Dilip Chunilal Chandan |
|
3037137 |
|
Vijay Chunilal Chandan |
|
3184735 |
|
Samuben Chunilal Chandan |
|
1037770 |
|
Urmila Dilip Chandan |
|
1347132 |
|
Usha Vijay Chandan |
|
1609946 |
|
Chaitny Dilip Chandan |
|
718060 |
|
Chirag Dilip Chandan |
|
744431 |
|
Dilip Chunilal Chandan – HUF |
|
981419 |
|
Vijay Chunilal Chandan – HUF |
|
1723196 |
|
Chunilal Ghamadiram Chandan –
HUF |
|
935176 |
|
Total |
|
17627832 |
|
Names of Preference Shareholders (6% Non-Cumulative Redeemable Preference Shares) |
|
No. of Shares |
|
Chunilal Ghamadiram Chandan |
|
1000000 |
|
Vijay Chunilal Chandan |
|
2000000 |
|
Dilip Chunilal Chandan |
|
630000 |
|
Usha Vijay Chandan |
|
300000 |
|
Urmila Dilip Chandan |
|
1070000 |
|
Total |
|
5000000 |
|
Names of Preference Shareholders (6% Non-Cumulative Redeemable Preference Shares) |
|
No. of Shares |
|
Chunilal Adhiraj Construction Private
Limited, India |
|
2000000 |
|
Arnoid Holding Limited, India |
|
6430000 |
|
Keemtee Financial Serviced Limited, India |
|
570000 |
|
|
|
|
|
Total |
|
9000000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Products,
Pipe Fittings and Valves. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Stainless Steel Products, Pipe Fittings and Valves |
||||
|
Countries : |
·
Italy ·
Germany ·
Austria ·
USA ·
Middle East ·
Gulf Countries |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
·
China ·
Italy ·
Myanmar |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Small Industries Development Bank of India,
Samruddhi Venture Park, Upper Ground Floor, MIDC Road, MIDC Industrial Area,
Marol, Andheri (East), Mumbai – 400 093, Maharashtra, India ·
Dena Bank, 12-16, 3rd Bhoiwada, Gulalwadi, Mumbai
- 400002, Maharashtra, India ·
State Bank of India, Girgaum Branch, Mumbai – 400
004, Maharashtra, India ·
Oriental Bank of Commerce, Overseas Branch,
Dalamal Towers, 211 Nariman Point, Nariman Point, Mumbai, Mumbai - 400021,
Maharashtra, India ·
United Bank of India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institutions : |
·
Aditya Birla Finance Limited, Indian Rayon
Compound, Veraval – 362 266, Gujarat, India · Gujarat State Financial Corporation, Jal Darshan Building, Ashram Road, Ahmedabad – 380 009, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Taparia Chartered Accountants |
|
Address : |
12, Navjeevan Wadi, Dhobi Talao, Mumbai – 400 002, Maharashtra, India |
|
Tel. No.: |
91-22-66319266 / 67/ 68 |
|
Fax No.: |
91-22-66319266 / 67/ 68 |
|
E-Mail : |
|
|
PAN No.: |
AAOFS0663D |
|
|
|
|
Subsidiary Company
: |
·
Chandan Minerals Private Limited, India CIN No.: U14292MH2010PTC209730 ·
Kalikund Investment B.V., Netherlands |
|
|
|
|
Fellow Subsidiary : |
· KDG Steel sp.z.o.o., Poland |
CAPITAL STRUCTURE
As on 27.09.2013
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
5000000 |
6% Redeemable Non
Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
10000000 |
9% Redeemable
Non Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17627832 |
Equity Shares |
Rs.10/- each |
Rs.176.278
Millions |
|
5000000 |
6% Redeemable
Non Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000 Millions
|
|
9000000 |
9% Redeemable
Non Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.90.000
Millions |
|
|
Total |
|
Rs.316.278 Millions |
As on 31.03.2013
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
5000000 |
6% Redeemable
Non Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
10000000 |
9% Redeemable
Non Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17414676 |
Equity Shares |
Rs.10/- each |
Rs.174.147
Millions |
|
5000000 |
6% Redeemable Non
Cumulative, Non-Convertible Preference Shares |
Rs.10/- each |
Rs.50.000
Millions |
|
9000000 |
9% Redeemable
Non Cumulative, Non-Convertible Preference Share |
Rs.10/- each |
Rs.90.000
Millions |
|
|
Total |
|
Rs.314.147 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 |
314.147 |
303.587 |
295.741 |
|
(b) Reserves & Surplus |
1034.312 |
829.766 |
646.091 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
0 |
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1348.459 |
1133.353 |
941.832 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
335.070 |
328.435 |
284.540 |
|
(b) Deferred tax liabilities (Net) |
207.112 |
189.566 |
176.522 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.686 |
4.140 |
3.951 |
|
Total Non-current Liabilities (3) |
546.868 |
522.141 |
465.013 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2219.255 |
1763.870 |
1881.915 |
|
(b) Trade payables |
1053.731 |
1099.931 |
780.581 |
|
(c) Other current
liabilities |
249.128 |
179.371 |
127.439 |
|
(d) Short-term provisions |
139.590 |
162.700 |
94.714 |
|
Total Current Liabilities (4) |
3661.704 |
3205.872 |
2884.649 |
|
|
|
|
|
|
TOTAL |
5557.031 |
4861.366 |
4291.494 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1541.672 |
1332.404 |
1285.178 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
122.290 |
153.305 |
55.284 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
30.908 |
25.418 |
1.973 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
237.255 |
|
(d) Long-term Loan and Advances |
158.396 |
164.442 |
40.038 |
|
(e) Other Non-current assets |
0.695 |
0.875 |
0.000 |
|
Total Non-Current Assets |
1853.961 |
1676.444 |
1619.728 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1816.578 |
1643.414 |
1215.139 |
|
(c) Trade receivables |
1142.383 |
942.116 |
959.114 |
|
(d) Cash and cash
equivalents |
242.048 |
223.148 |
187.473 |
|
(e) Short-term loans and
advances |
71.511 |
52.531 |
42.218 |
|
(f) Other current assets |
430.550 |
323.713 |
267.822 |
|
Total Current Assets |
3703.070 |
3184.922 |
2671.766 |
|
|
|
|
|
|
TOTAL |
5557.031 |
4861.366 |
4291.494 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
1.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5324.239 |
5273.851 |
4594.628 |
|
|
|
Other Income |
0.134 |
0.096 |
12.285 |
|
|
|
TOTAL (A) |
5324.373 |
5273.947 |
4606.913 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4157.907 |
4239.408 |
3593.512 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(271.185) |
(373.445) |
74.469 |
|
|
|
Employee Benefit Expenses |
105.314 |
76.830 |
52.486 |
|
|
|
Other Expenses |
785.216 |
742.199 |
455.024 |
|
|
|
Prior Period Items |
0.033 |
2.266 |
0.777 |
|
|
|
TOTAL (B) |
4777.285 |
4687.258 |
4176.268 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
547.088 |
586.689 |
430.645 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
249.966 |
254.801 |
149.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
297.122 |
331.888 |
281.332 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
85.355 |
82.051 |
65.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
211.767 |
249.837 |
216.060 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
70.579 |
83.343 |
66.956 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
141.188 |
166.494 |
149.104 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
529.264 |
394.533 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend and Dividend Distribution Tax |
NA |
NA |
14.373 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
529.264 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports (Net of Return) |
4749.846 |
4897.757 |
3938.872 |
|
|
TOTAL EARNINGS |
4749.846 |
4897.757 |
3938.872 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2769.257 |
2423.893 |
1686.282 |
|
|
|
Capital Goods |
50.953 |
34.424 |
80.082 |
|
|
TOTAL IMPORTS |
2820.210 |
2458.317 |
1766.364 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.83 |
9.82 |
8.84 |
|
Expected Sales (2013-2014): Rs.6300.000 Millions
The above information has been parted by Mr. Vinod Sharma (General
Manager in Accounts and Finance).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.65
|
3.16 |
3.24 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.98
|
4.74 |
4.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.81
|
5.34 |
5.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61
|
0.22 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.59
|
1.45 |
2.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.74
|
0.99 |
0.93 |
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 |
No |
|
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
REVIEW OF OPERATIONS:-
During the Year
Company has maintain Net Sales of Rs. 5320.000 Millions as compared to Rs.
5270.000 Millions in 2011-12, this is inspite of slowdown in steel industry.
The Net Profit after Tax is at Rs. 141.100 Millions as compared to Rs.166.400
Millions same period on previous year showing an decrease of 15.20%. The sales
volume also marginally increase to 22371.629 MT in 2011-12 as compared to
22306.170 MT in 2010-11.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
37.894 |
0.000 |
|
Short-term
borrowings |
|
|
|
Intercorporate deposits |
8.100 |
0.000 |
|
|
|
|
|
Total |
45.994 |
0.000 |
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10379723 |
21/09/2012 |
100,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE
FINANCE BRANCH, 2ND FLOOR, 25, SIR P.M. ROAD, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
B59381749 |
|
2 |
10377909 |
05/09/2012 |
69,500,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON
COMPOUND, VERAVAL, GUJARAT - 362266, |
B58613985 |
|
3 |
10361925 |
13/06/2012 |
150,000,000.00 |
DENA BANK |
12-16, 3RD BHOIWADA,
GULALWADI, MUMBAI, MAHARASHTRA - 400002, INDIA |
B42156067 |
|
4 |
10324980 |
14/06/2013 * |
3,400,000,000.00 |
UNITED BANK OF INDIA (LEAD BANK) |
CORPORATE
FINANCE BRANCH, 25, SIR P.M. ROAD, 2ND FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B79129201 |
|
5 |
10299997 |
28/07/2011 |
90,000,000.00 |
UNITED BANK OF INDIA |
CORPORATE
FINANCE BRANCH, 25, SIR P.M. ROAD, 2ND
FLOOR, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B17995952 |
|
6 |
10286520 |
19/04/2011 |
25,000,000.00 |
BANK OF BARODA |
10/12, MUMBAI
SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B12703252 |
|
7 |
10286521 |
19/04/2011 |
60,000,000.00 |
BANK OF BARODA |
10/12, MUMBAI
SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B12703484 |
|
8 |
10225562 |
28/05/2010 |
20,000,000.00 |
BANK OF BARODA |
POST BOX NO.347,
10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A87944146 |
|
9 |
10221336 |
10/05/2010 |
50,000,000.00 |
UNITED BANK OF INDIA |
UNITED BANK OF
INDIA BUILDING, 25, SIR P.M. ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
A85583755 |
|
10 |
10171739 |
11/08/2009 |
250,000,000.00 |
UNITED BANK OF INDIA |
25, SIR P.M.
ROAD,, MUMBAI, MAHARASHTRA - 400001, |
A67380857 |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
46 |
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.