MIRA
INFORM REPORT
|
Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAJHANS METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gala No 3, Shiley
Industrial Estate, Udyog Nagar, Goregaon (West), Mumbai 400062, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.04.1987 |
|
|
|
|
Com. Reg. No.: |
11-043138 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.27.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1987PTC043138 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR01969C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR5424Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Brass and Copper Alloy Extruded Rods and Extruded
Sections. |
|
|
|
|
No. of Employees
: |
300 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record.
Management has seen a drastic dip in its sales volume and has incurred a loss
due to which the reserves of the company has been heavily deteriorated during
2013. The ratings also take into consideration the subject’s existence in
the highly competitive industry and susceptibility toward volatility in raw
material prices and fluctuations in foreign currency exchange rate. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of promoter’s vast experience along with the subjects
established track, 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.
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 |
CARE |
|
Rating |
BB – [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate risk of default regarding payments. |
|
Date |
28.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 [Short Term Bank Facilities] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
28.12.2013 |
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 [GENERAL DETAILS]
|
Name : |
Mr. Bharat |
|
Designation : |
Accounts Finance Department |
|
Contact No.: |
91-288-2560111 |
|
Date : |
11.07.2014 |
LOCATIONS
|
Registered Office : |
Gala No 3, Shiley Industrial Estate, Udyog Nagar, Goregaon (West),
Mumbai 400062, Maharashtra, India |
|
Tel. No.: |
91-22-28751713/ 28752280 |
|
Mobile No.: |
91-9824601421 (Mr. Bhavesh) |
|
Fax No.: |
91-22-28743477 |
|
E-Mail : |
sales@rajhans.com (Domestic Sales) exports@rajhans.com
(International Sales) imports@rajhans.com
(Imports/Raw material) info@rajhans.com (Other/General) |
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory : |
21-3, G.I.D.C., Shanker Tekri, Udyognagar, Jamnagar – 361004, Gujarat,
India |
|
Tel. No.: |
91-288-2560111/ 112/ 113 |
|
Fax No.: |
91-288-2560114 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mrs. Jasmin Jayendra Dodhia |
|
Designation : |
Director |
|
Address : |
“Jasmin”, Opposite Jolly Bungalow, Summair Club Road, Jamnagar-361005,
Gujarat |
|
Date of Birth/Age : |
06.05.1972 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AFHPS5523C |
|
DIN No.: |
00158746 |
|
|
|
|
Name : |
Mr. Kailashchandra Laxminarayan Mandawewala |
|
Designation : |
Director |
|
Address : |
Flat No.402, Ashutosh Appartment, Nirban Road, Opposite Guruduttatreya
Temple, Jamnagar-361008, Gujarat, India |
|
Date of Birth/Age : |
04.08.1943 |
|
Qualification : |
M. Com |
|
Date of Appointment : |
01.10.1998 |
|
PAN No.: |
AAAPM8385N |
|
DIN No.: |
00660684 |
|
|
|
|
Name : |
Mr. Mohanlal Nemchand Savla |
|
Designation : |
Director |
|
Address : |
B 16, Hindmata Cutpiece Merchants Coop Housing Society , Ambedkar
Road, Tata Mill Compound, Dadar (East), Mumbai-400014, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1939 |
|
Qualification : |
SSC |
|
Date of Appointment : |
01.10.1998 |
|
PAN No.: |
AAOPS5379Q |
|
DIN No.: |
00158758 |
|
|
|
|
Name : |
Mr. Milan Chandulal Dodhia |
|
Designation : |
Director |
|
Address : |
Milan, Opposite Jolly Bungalow, Summair Club Road, Jamnagar – 361005,
India |
|
Date of Birth/Age : |
12.08.1961 |
|
Qualification : |
BBA |
|
Date of Appointment : |
03.04.2007 |
|
PAN No.: |
AAXPD4459M |
|
DIN No.: |
00158730 |
|
|
|
|
Name : |
Mr. Sonilkumar Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Sonil, Summair Club Road, Jamnagar – 361005, Gujarat, India |
|
Date of Birth/Age : |
09.12.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ABOPS5301D |
|
DIN No.: |
00182987 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat |
|
Designation : |
Accounts Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
14.51 |
|
Other
top fifty shareholders |
|
85.49 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Brass and Copper Alloy Extruded Rods and Extruded
Sections. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Brass Rods |
M.T |
NA |
12150.000 |
7528.410 |
GENERAL INFORMATION
|
No. of Employees : |
300 [Approximately] |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· State Bank of India, Digvijay Plot Branch, Digvijay Police Gate Jamnagar - 361005, Gujarat, India · State Bank of Saurashtra, Digvijay Plot Branch, Jamnagar - 361005, Gujarat, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pragada Rajnikant Vallabhbhai Chartered Accountants |
|
Address : |
102, Riddhi Siddhi Opposite, Axis Bank Park Colony, Main Road, Jamnagar 361008, Gujarat, India |
|
PAN No: |
ANTPP0162A |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
270000 |
Equity Shares |
Rs.100/- each |
Rs.27.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
27.000 |
5.400 |
5.400 |
|
(b) Reserves & Surplus |
182.049 |
244.156 |
231.576 |
|
(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) |
209.049 |
249.556 |
236.976 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
78.637 |
191.712 |
177.699 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
5.203 |
7.276 |
|
(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) |
78.637 |
196.915 |
184.975 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
408.103 |
339.195 |
327.966 |
|
(b)
Trade payables |
20.546 |
45.673 |
40.684 |
|
(c)
Other current liabilities |
14.628 |
15.000 |
7.149 |
|
(d) Short-term
provisions |
2.877 |
3.118 |
32.960 |
|
Total Current
Liabilities (4) |
446.154 |
402.986 |
408.759 |
|
|
|
|
|
|
TOTAL |
733.840 |
849.457 |
830.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
76.065 |
73.435 |
80.510 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.604 |
0.356 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax
assets (net) |
14.853 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.505 |
16.550 |
10.183 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
110.028 |
90.342 |
90.694 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
233.731 |
238.459 |
270.059 |
|
(c)
Trade receivables |
275.217 |
304.260 |
355.226 |
|
(d) Cash
and cash equivalents |
18.953 |
11.338 |
22.723 |
|
(e)
Short-term loans and advances |
95.911 |
205.058 |
92.008 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
623.812 |
759.115 |
740.016 |
|
|
|
|
|
|
TOTAL |
733.840 |
849.457 |
830.710 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
TOTAL TURNOVER |
1999.219 |
2410.791 |
2297.884 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(46.546) |
26.675 |
114.501 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.229 |
15.639 |
18.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(60.775) |
11.036 |
96.363 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(19.833) |
(2.180) |
34.919 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(40.942) |
13.216 |
61.444 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
0.540 |
0.540 |
|
|
|
Tax on Dividend |
0.000 |
0.088 |
0.090 |
|
|
BALANCE CARRIED
TO THE B/S |
(40.942) |
(12.588) |
60.814 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
476.553 |
325.019 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
1963.374 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(151.64) |
244.74 |
1137.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.47)
|
1.30 |
11.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.29)
|
0.04 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.33
|
2.13 |
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.88 |
1.81 |
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 |
5.400 |
5.400 |
27.000 |
|
Reserves & Surplus |
231.576 |
244.156 |
182.049 |
|
Net worth |
236.976 |
249.556 |
209.049 |
|
|
|
|
|
|
long-term borrowings |
177.699 |
191.712 |
78.637 |
|
Short term borrowings |
327.966 |
339.195 |
408.103 |
|
Total borrowings |
505.665 |
530.907 |
486.740 |
|
Debt/Equity ratio |
2.134 |
2.127 |
2.328 |
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) |
|
Total Turnover |
2297.884 |
2410.791 |
1999.219 |
|
|
|
4.914 |
(17.072) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Turnover |
2297.884 |
2410.791 |
1999.219 |
|
Profit |
61.444 |
13.216 |
(40.942) |
|
|
2.67% |
0.55% |
(2.05%) |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
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 |
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 |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90243806 |
28/02/2005 |
3,600,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT
BRANCH, JAMNAGAR, GUJARAT, INDIA |
- |
|
2 |
90226739 |
16/10/2002 * |
2,000,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT
BRANCH, JAMNAGAR, GUJARAT, INDIA |
- |
|
3 |
90223247 |
10/05/2001 * |
3,200,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT,
JAMNAGAR, GUJARAT, INDIA |
- |
|
4 |
90222924 |
10/05/2001 * |
2,400,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT,
JAMNAGAR, GUJARAT, INDIA |
- |
|
5 |
90226610 |
06/07/2010 * |
258,200,000.00 |
STATE BANK OF INDIA |
DIGVIJAY PLOT
POLICE GATE, DIGVIJAY PLOT, JAMNAGA |
B00109280 |
|
6 |
90225621 |
27/01/2009 * |
70,000,000.00 |
STATE BANK
OFINDIA |
DIGVIJAY PLOT
BRANCH, DIGVIJAY POLICE GATE, JAMNAGAR - 361005, GUJARAT, INDIA |
A56912785 |
|
7 |
90221502 |
28/08/2012 * |
446,100,000.00 |
STATE BANK OF
INDIA |
DIGVIJAY PLOT
BRANCH, DIGVIJAY POLICE GATE, JAMNAGAR - 361005, GUJARAT, INDIA |
B57870925 |
|
* Date of charge modification |
||||||
CHARGES:
|
ENTITY |
PERSON |
COMPETENT AUTHORITY |
REGULATORY
CHARGES |
REGULATORY
ACTION (S) / DATE OF ORDER |
FURTHER
DEVELOPMENT |
|
RAJHANS METAL PRIVATE LIMITED |
RAJENDRA G. SHAH |
DRT |
DEFAULT OF DUES |
DEMAND NOTICE- RS.1.491 MILLIONS DEBTS RECOVERY TRIBUNAL NO. II, MUMBAI 13.02.2012 |
-- |
|
CASE DETAILS BENCH: BOMBAY LODGING NO.:
EXAL/1692/2012
FILING DATE: 22/102012 REG. NO.:
EXA/655/2013
REG.
DATE: 19/08/2013
|
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and advances from other |
67.520 |
181.645 |
|
TOTAL
|
67.520 |
181.645 |
OPERATIONS:
Though the total
income was lower compared to previous year steep increase in manufacturing cost
including raw materials and higher provision for Depreciation affected the
profitability of the Company. The total turnover for the year was Rs. 1999.219
Millions as against Rs. 2410.791 Millions last year. Prices of non-ferrous
scrap remained highly volatile throughout the year and the Company was not able
to pass on full impact of price increase due to stiff resistance from buyers.
The performance of wind farms remained encouraging.
FUTURE PROSPECTS:
The Indian economy
is effected due to slow down in U.S.A. and Europe. The industrial production in
general is showing down ward trend since the fourth quarter of the financial
year 2012 2013. Considering the huge demand and vast economy of our country the
revival of economy is imminent. The Company has consolidated its position in
both in domestic and overseas markets and the Company has become a preferred
destination for brass extrusion products. Considering the above your Directors
are optimist to face any challenge and are confident of better future of the
Company.
FINANCE:
The Company has
fulfilled all its commitments to its bankers towards financial facilities
availed. The Company is facing paucity of need based working capital and all
out efforts are made to raise requisite finance from its bankers as well as
from Directors and shareholders.
FIXED ASSETS:
· Land
· Buildings
· Office Building
· Factory Building
· Plant and Equipment
· Factory Equipments
· Furniture and Fixtures
· 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 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.60.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.