1.
Summary Information
|
|
|
Country |
|
|
Company Name |
NICOMET INDUSTRIES LIMITED |
Principal Name 1 |
Mr. Rajendra Prasad Daudayal Agarwal |
|
Status |
Moderate |
Principal Name 2 |
Mr. Ankit Rajendra Prasad Agarwal |
|
|
|
Registration # |
11-071450 |
|
Street Address |
155, Maker Chamber III, Nariman Point, Mumbai – 400021, Maharashtra,
India |
||
|
Established Date |
02.04.1993 |
SIC Code |
-- |
|
Telephone# |
91-22-28203347 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-28351982 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Cobalt Nickel Sulphate |
|
|
# of employees |
Not Available |
Product Name 2 |
Cobalt Nitrate |
|
Paid up capital |
Rs.110,000,000/- |
Product Name 3 |
Cobalt Metal |
|
Shareholders |
Directors or relatives of Directors -
100.00% |
Banking |
Union Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
21 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
India |
Ankit Associates Private Limited |
-- |
|
Note |
- |
||
2.
Summary Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
548,183,000 |
Current Liabilities |
1,411,114,000 |
|
Inventories |
1,482,239,000 |
Long-term Liabilities |
614,105,000 |
|
Fixed Assets |
606,427,000 |
Other Liabilities |
111,535,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,136,754,000 |
|
Invest& other Assets |
6,231,000 |
Retained Earnings |
396,326,000 |
|
|
|
Net Worth |
506,326,000 |
|
Total Assets |
2,643,080,000 |
Total Liab. & Equity |
2,643,080,000 |
|
Total Assets (Previous Year) |
1,862,850,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
2,431,947,000 |
Net Profit |
6,085,000 |
|
Sales(Previous yr) |
1,511,316,000 |
Net Profit(Prev.yr) |
26,892,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NICOMET INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
155, Maker Chamber III, Nariman Point, Mumbai – 400021, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.04.1993 |
|
|
|
|
Com. Reg. No.: |
11-071450 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.110.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1993PLC071450 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM09552E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1597Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cobalt, Copper Nickel and their Derivatives. |
|
|
|
|
No. of Employees
: |
Information denied by management |
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 2000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Management of the company has failed to file its financials for the
year 2013 with the government department. As per available financial 2012, profitability of the company seems to
be low. However, trade relations are reported as fair. Business is active.
Payment terms are 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst
slowdown in more than a quarter of a century. The data was below an official
estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal
year. However, the current account deficit narrowed sharply to $ 32.4 billion
at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8
billion or 4.7 %, the year before.A sharp fall in gold imports due to
restrictions on overseas purchases and muted import of capital goods helped
shrink the current account deficit.
Online retailer
Flipkart has acquired fashion portal Myntra as it prepares to battle with the
rapidly expanding India arm of the global e-commerce giant Amazon. The company
raised $ 210 million from Russian Investment firm DST Global which has also
invested in companies like Facebook, Twitter and Alibaba Group.
General Motors will
start exporting vehicles from its Talegaon plant near Pune in the second half of
2014. GM was one of the few global carmakers that was using its India plant
only for the domestic market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market
research agency Millward Brown. Google’s brand value shot up 40 % in a year to
$ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.
Infosys lost another
heavy weight when B G Srinivas, a board member put in his papers. He is the
third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the
company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went
on to lead IGate, Balakrishnan joined politics.
Naresh Goyal –
promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the
three months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in
connection with a complaint against the direct selling firm. This is the second
time that he has been taken into custody. A year, ago the Kerala Police had
arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade secrets
to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68
countries by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = D |
|
Rating Explanation |
Expected to be in default |
|
Date |
05.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = D |
|
Rating Explanation |
Expected to be in default |
|
Date |
05.02.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Nitul Bhupat Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9820327024 |
|
Date : |
12.07.2014 |
LOCATIONS
|
Registered/ Head Office : |
155, Maker Chamber III, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-28203347 /
28203418 / 26938710-14 |
|
Mobile No.: |
91-9820327024 (Mr. Nitul Bhupat
Shah) |
|
Fax No.: |
91-22-28351982 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2600 Sq. ft |
|
Location : |
Leased |
|
|
|
|
Factory : |
Plot No. L-15/19/20, Cuncolim Industrial Estate,
Cuncolim–403703, Goa, India |
|
Tel. No.: |
91-832-2763307 / 2764337 / 2866066 |
|
Fax No.: |
91-832-2764327 |
|
E-Mail : |
DIRECTORS
As on 20.09.2012
|
Name : |
Mr. Rajendra Prasad Daudayal Agarwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
21, Krishna Kunj, 94, Marine Drive, G. Road, Mumbai –
400020, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.05.1951 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.04.1993 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAGPA9763L |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00605850 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ankit Rajendra Prasad Agarwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
21, Krishna Kunj, 94, Marine Drive, G. Road, Mumbai –
400020, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.08.1984 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.01.2004 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAGPA9764P |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00605952 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Nitul Bhupat Shah |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
7101, Kusum Kunj, Junction of 9th and 10th Road,
Khar (West), Mumbai-400052, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.01.1983 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
21.06.2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAEPS6737Q |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00289512 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Tushar Ambalal Porwal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
301, Swastik Sadan, 3rd Floor, 8th Road, Khar
(West), Mumbai-400052, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.01.1975 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2011 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00290353 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS
As on 20.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rajendra Prasad Agarwal |
|
1000000 |
|
Usha Agarwal |
|
1000000 |
|
Atul Agarwal |
|
1000000 |
|
Murlidarji Agarwal |
|
7500 |
|
Ankit Agrawal |
|
1000000 |
|
Bhawana Agrawal |
|
227500 |
|
Daudayal Agrawal HUF |
|
1235000 |
|
Angoori Devi |
|
30000 |
|
Ambalal M Porwal |
|
237660 |
|
Ambalal M Porwal HUF |
|
313840 |
|
Tushar A Porwal |
|
464200 |
|
Vipul A Porwal |
|
464200 |
|
Ruchi V Porwal |
|
485100 |
|
Ritu V Porwal |
|
485100 |
|
Nirmala V Porwal |
|
356695 |
|
Vijay M Porwal |
|
99205 |
|
Vijay M Porwal HUF |
|
245300 |
|
Manjula A Porwal |
|
191400 |
|
Aardhi Porwal |
|
100 |
|
Nitul B Shah |
|
941600 |
|
Vilas B Shah |
|
868490 |
|
Bhupat K Shah HUF |
|
327110 |
|
Amar Ferro Metals Private Limited |
|
20000 |
|
Total |
|
11000000 |
Equity Share Break up (Percentage of Total Equity)
As on 20.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cobalt, Copper Nickel and their Derivatives. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Cobalts and its salts |
TPA |
1000 |
|
Nickel and its salts |
TPA |
1000 |
|
Copper |
TPA |
3000 |
|
|
|
|
|
Particulars |
Unit |
Actual
Production |
|
Cobalts and its salts |
MT |
478.17 |
|
Nickel and its salts |
MT |
263.63 |
|
Copper |
MT |
647.50 |
Note:
** Production include captive consumption but
exclude production during trial run.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Bankers : |
·
Union Bank of India (Lead Bank), Overseas Branch,
Ground Floor, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point,
Mumbai – 400021, Maharashtra, India ·
Federal Bank Limited, 32, Bombay Samachar
Marg, Fort, Mumbai – 400001, Maharashtra, India ·
Andhra Bank, 116, Saurabh, Andheri Kurla Road,
Andheri (East), Mumbai – 400093, Maharashtra, India · Punjab National Bank · Barclays Bank · State Bank of Patiala |
||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||
|
Facilities : |
Notes : · Term loan from banks are secured, on pari passu basis, by first charge on entire fixed assets of the Company including equitable mortgage of land and building and hypothecation of specific assets. · The working capital loan from the bank are secured, on pari passu basis, by hypothecation of stock and export bills. The loans are further secured by collateral security by way of first charge on remaining current assets of the Company and first charge on fixed assets of the Company including equitable mortgage of immovable properties of the Company situated at plot nos. L-15, L-196, and L-20 Cuncolim Industrial Estate, Cuncolim, Goa. The said loans are further secured by personal guarantees of the directors · Equipment and vehicle loans · Overdraft against fixed deposit |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi S. K. and Fellows Chartered Accountants |
|
Address : |
410, Dev Plaza, SV Road, Andheri West, Mumbai-400 058, Maharashtra, India |
|
Fax No.: |
91-22-66943453 |
|
E-Mail : |
|
|
PAN No.: |
AAAFC2426N |
|
|
|
|
Associates : |
·
Ankit Associates Private Limited ·
Metec Asia Private Limited ·
Metal Plast Exim (India) Private Limited ·
Ampex Trading Company, Romet |
CAPITAL STRUCTURE
As on 20.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
110.000 |
|
(b) Reserves & Surplus |
|
|
396.326 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
506.326 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
102.412 |
|
(b) Deferred tax liabilities (Net) |
|
|
81.250 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
6.781 |
|
Total Non-current Liabilities (3) |
|
|
190.443 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
511.693 |
|
(b) Trade payables |
|
|
1296.898 |
|
(c) Other current
liabilities |
|
|
114.216 |
|
(d) Short-term provisions |
|
|
23.504 |
|
Total Current Liabilities (4) |
|
|
1946.311 |
|
|
|
|
|
|
TOTAL |
|
|
2643.080 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
606.189 |
|
(ii) Intangible Assets |
|
|
0.238 |
|
(iii) Capital
work-in-progress |
|
|
6.230 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.001 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
26.082 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
638.740 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
1482.239 |
|
(c) Trade receivables |
|
|
308.584 |
|
(d) Cash and cash
equivalents |
|
|
135.120 |
|
(e) Short-term loans and
advances |
|
|
78.397 |
|
(f) Other current assets |
|
|
0.000 |
|
Total Current Assets |
|
|
2004.340 |
|
|
|
|
|
|
TOTAL |
|
|
2643.080 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
110.000 |
110.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
390.241 |
363.349 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
500.241 |
473.349 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
535.643 |
310.059 |
|
|
2] Unsecured Loans |
|
47.072 |
72.072 |
|
|
TOTAL BORROWING |
|
582.715 |
382.131 |
|
|
DEFERRED TAX LIABILITIES |
|
81.284 |
75.408 |
|
|
|
|
|
|
|
|
TOTAL |
|
1164.240 |
930.888 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
610.927 |
371.508 |
|
|
Capital work-in-progress |
|
33.754 |
224.566 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
|
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
0.000 |
0.000 |
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
753.962
|
530.303
|
|
|
Sundry Debtors |
|
218.546
|
231.567
|
|
|
Cash & Bank Balances |
|
134.674
|
105.944
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
110.987
|
36.373
|
|
Total
Current Assets |
|
1218.169
|
904.187
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
636.565
|
385.106
|
|
|
Other Current Liabilities |
|
26.714
|
133.703
|
|
|
Provisions |
|
35.331
|
50.564
|
|
Total
Current Liabilities |
|
698.610
|
569.373
|
|
|
Net Current Assets |
|
519.559
|
334.814
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1164.240 |
930.888 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2431.947 |
1511.316 |
1125.242 |
|
|
|
Other Income |
14.962 |
80.198 |
102.820 |
|
|
|
TOTAL (A) |
2446.909 |
1591.514 |
1228.062 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1934.446 |
1035.139 |
803.112 |
|
|
|
Purchases of stock-in-trade |
265.818 |
0.000 |
0.000 |
|
|
|
Manufacturing Service Costs |
0.000 |
221.749 |
139.687 |
|
|
|
Employee benefit expense |
58.054 |
65.650 |
34.136 |
|
|
|
Other expenses |
313.535 |
58.475 |
41.729 |
|
|
|
Exceptional items |
57.902 |
0.000 |
0.000 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(382.838) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
2246.917 |
1381.013 |
1018.664 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
199.992 |
210.501 |
209.398 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
145.833 |
92.422 |
52.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
54.159 |
118.079 |
156.437 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.588 |
40.226 |
33.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
7.571 |
77.853 |
123.115 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.486 |
50.961 |
44.960 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
6.085 |
26.892 |
78.155 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
374.802 |
347.910 |
269.755 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
380.887 |
374.802 |
347.910 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
733.742 |
586.491 |
427.477 |
|
|
TOTAL EARNINGS |
733.742 |
586.491 |
427.477 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2330.908 |
1146.183 |
617.398 |
|
|
|
Capital Goods |
19.249 |
1.862 |
1.338 |
|
|
TOTAL IMPORTS |
2350.157 |
1148.045 |
618.736 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.55 |
2.44 |
7.10 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.25
|
1.69 |
6.36
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.31
|
5.15
|
10.94
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.29
|
4.26
|
9.65
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.16
|
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.21
|
1.16
|
0.81
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.74
|
1.59
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
1,125.242 |
1,475.220 |
2,431.947 |
|
|
|
31.102 |
64.853 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
1,125.242 |
1,475.220 |
2,431.947 |
|
Profit |
78.155 |
26.893 |
6.085 |
|
|
6.95% |
1.82% |
0.25% |
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 |
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) |
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
|
Case Details |
|||||||||||
|
Bench:- Bombay |
|||||||||||
|
Presentation Date:-13/01/2014 |
|||||||||||
|
Lodging No.:- |
CPL/19/2014 |
Filing Date:- |
13/01/2014 |
Reg. No.:- |
CP/224/2014 |
Reg. Date:- |
18/03/2014 |
||||
|
|
|||||||||||
|
Petitioner:- |
TATAL OIL INDIA PRIVATE LIMITED |
Respondent:- |
NICOMET INDUSTRIES LIMITED (CIN NO.: U27200MH1993PLC071450)
|
||||||||
|
Petn.Adv:- |
M/S. MULLA AND MULLA AND CRAIGIE BLUNT AND COMPANY |
|
|
||||||||
|
District:- |
MUMBAI |
||||||||||
|
|
|||||||||||
|
Bench:- |
SINGLE |
||||||||||
|
Status:- |
Pre-Admission |
Category:- |
COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT |
||||||||
|
Next Date:- |
15/07/2014 |
Stage:- |
FOR ADMISSION [ORIGINAL SIDE MATTERS] |
||||||||
|
Coram:- |
HON'BLE SHRI JUSTICE S.J. KATHAWALLA |
||||||||||
|
|
|||||||||||
|
Last Date:- |
06/05/2014 |
Stage:- |
FOR ACCEPTANCE |
||||||||
|
Last Coram:- |
COMPANY REGISTRAR |
||||||||||
|
Act :- |
Companies Act & Rules 1956 |
Under Section:- |
433 & 434 |
||||||||
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
In Millions) |
|
Intercorporate Borrowings |
42.721 |
|
Loans and Advances from Related Parties |
54.572 |
|
Working Capital Loans from Banks |
17.025 |
|
Intercorporate Deposits |
9.439 |
|
Total |
123.757 |
|
Particulars |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
Rupee Term Loans Others Unsecured |
35.000 |
|
Loans Directors Unsecured |
8.656 |
|
Other Debt Unsecured |
3.416 |
|
Total |
47.072 |
Note:
·
Loan from companies
·
Loan from shareholders
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10389233
|
07/11/2012
|
100,000,000.00
|
UNION
BANK OF INDIA |
Overseas
Branch, Union Bank Bhavan, Ground Floor, 239, Vidhan Bhavan Marg, Nariman
Point, Mumbai, Maharashtra - 400021, India |
B63067136 |
|
2 |
10354750
|
19/04/2012
|
30,000,000.00
|
Andhra
Bank |
116,
Saurabh, Andheri Kurla Road, Andheri (East), Mumbai, Maharashtra - 400093,
India |
B39344197 |
|
3 |
10377919
|
11/01/2012
|
30,000,000.00
|
Andhra
Bank |
116,
Saurabh, Andheri Kurla Road, Andheri (East), Mumbai, Maharashtra - 400093,
India |
B34474577 |
|
4 |
10202326
|
29/01/2010
|
5,500,000.00
|
STATE
BANK OF PATIALA |
Bandra
(West) Branch, Meena Apartments, 82, Hill Road, Bandra (West), Mumbai,
Maharashtra - 400050, India |
A79412771 |
|
5 |
10147042
|
16/03/2009
* |
95,000,000.00
|
UNION
BANK OF INDIA (LEAD BANK) |
Overseas
Branch, Ground Floor, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman
Point, Mumbai, Maharashtra - 400021, India |
A58918905 |
|
6 |
10078440
|
30/11/2007
|
100,000,000.00
|
BARCLAYS
BANK PLC |
801/
808 Ceejay House, Shivsagar, Estate, Dr Anni E Beasant Road, Worli, Mumbai,
Maharashtra - 400018, India |
A27695709 |
|
7 |
10046460
|
31/05/2010
* |
1,450,000,000.00
|
UNION
BANK OF INDIA (LEAD BANK) |
Overseas
Branch, Ground Floor, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman
Point, Mumbai, Maharashtra - 400021, India |
A88359328 |
|
8 |
90159619
|
03/05/2004
* |
32,000,000.00
|
Punjab
National Bank |
Gen J.L
Bhosale Marg, Near Sachivalaya Gymkhana; Nariman Point, Mumbai, Maharashtra
- 400021, India |
- |
|
9 |
90156575
|
03/05/2004
* |
56,200,000.00
|
Punjab
National Bank |
Gen
J.L Bhosale Marg, Near Sachivalaya Gymkhana; Nariman Point, Mumbai, Maharashtra
- 400021, India |
- |
|
10 |
90155001
|
28/05/1996
|
24,000,000.00
|
The
Maharashtra State Financial Corpo. |
Lobo
Build. 18th June Road, Panaji, Goa, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Lease hold Land
·
Buildings
·
Plant and Machinery
·
Solvents
·
Electrical Installations
·
Factory Equipments
·
Laboratory Equipments
·
Air Conditioners
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Vehicles
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.60.18 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.