MIRA
INFORM REPORT
|
Report Date : |
19.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
D & H SECHERON ELECTRODES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
213D / 215D, Vishnu Shopping Centre, Plot No.37, Sector -
15, CBD Belapur, Navi Mumbai – 400614, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.06.1965 |
|
|
|
|
Com. Reg. No.: |
11-164343 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 69.232 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32101MH1965PTC164343 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLD00066D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD6111E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Seller of Industrial Welding Electrodes
and Consumables. |
|
|
|
|
No. of Employees
: |
1000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects DSEPL’s sound financial risk profile marked by extensive
sales distribution network, strong customer base, diversified product
portfolio and fair liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings 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.
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 |
ICRA |
|
Rating |
Cash Credit : “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
LC/BG: “A3+” |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
October, 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 |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-40409191 |
|
Date : |
17.07.2014 |
LOCATIONS
|
Registered Office : |
213D / 215D, Vishnu Shopping Centre, Plot No.37, Sector -
15, CBD Belapur, Navi Mumbai – 400614, Maharashtra, India |
|
Tel. No.: |
91-22-27561339 / 27561798 / 41264646 / 27561798 |
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Fax No.: |
91-22-27561299 / 41254605 |
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E-Mail : |
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Website : |
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Corporate Office : |
Merchant Chambers, 5th Floor, West Wing, 41 New Marine
Lines, Opposite Patkar Hall, Mumbai - 400020, |
|
Tel. No.: |
91-22-40428112 / 40428100 / 22037663 / 40428100 |
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Fax No.: |
91-22-40428101 / 22037664 |
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E-Mail : |
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Factory 1: |
44-46, Industrial Estate Kila Maidan, Post Bag No. 3, Indore - 452006,
Madhya Pradesh, India |
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Tel. No.: |
91-731-2412331 / 37 |
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Fax No.: |
91-731-2412338 |
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E-Mail : |
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Factory 2 : |
Village: Dakachya, |
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Tel. No.: |
91-731-2309001 / 2805253 / 2805083 |
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Fax No.: |
91-731-2805188 |
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Branch Offices: |
Located At: ·
Mumbai ·
Nashik ·
·
Vasai ·
Ahmedabad ·
·
Gandhidham ·
·
·
Pune ·
Kolkata ·
·
·
·
Angul ·
Jharsuguda ·
Guwahati ·
·
·
·
·
·
Secundrabad ·
Vizag ·
Chennai ·
·
Neyveli ·
Trichy ·
·
·
Mangalore ·
·
·
Sitapur ·
Anpara ·
Korba ·
Bilaspur ·
Bhilai ·
Satna ·
·
Bokaro ·
·
Chittorgarh ·
·
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Murli Dhar Khatri |
|
Designation : |
Managing Director |
|
Address : |
184-Kalani Nagar, Aerodrome Road, Indore - 452005, Madhya Pradesh, India. |
|
Date of Birth/Age : |
08.03.1940 |
|
Date of Appointment : |
01.07.2006 |
|
PAN No.: |
ADNPK8159J |
|
DIN No.: |
00064698 |
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|
|
|
Name : |
Mr. Arvind A. Maheshwari |
|
Designation : |
Whole-time director |
|
Address : |
22, Maket Tower, “I” Cuffe Parade, Mumbai - 400005, Maharashtra, India. |
|
Date of Birth/Age : |
23.11.1971 |
|
Qualification : |
B. E. |
|
Experience : |
15 Years |
|
Date of Appointment : |
12.06.2003 |
|
PAN No.: |
AABPM4271G |
|
DIN No.: |
00094313 |
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|
|
|
Name : |
Mr. Ashok H. Maheshwarri |
|
Designation : |
Whole-time director |
|
Address : |
21-22, Maket Tower, “I” Cuffe Parade, Mumbai - 400005, Maharashtra, India. |
|
Date of Birth/Age : |
12.04.1946 |
|
Qualification : |
B.Com, LLB, C.A. |
|
Experience : |
43 Years |
|
Date of Appointment : |
14.06.1986 |
|
DIN No.: |
00094358 |
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|
|
|
Name : |
Mrs. Suman Maheshwari |
|
Designation : |
Whole-time director |
|
Address : |
21-22, Maket Tower, “I” Cuffe Parade, Mumbai - 400005, Maharashtra, India. |
|
Date of Birth/Age : |
10.05.1950 |
|
Qualification : |
Graduate |
|
Experience : |
27 Years |
|
Date of Appointment : |
17.07.1986 |
|
PAN No.: |
AABPM4269J |
|
Voter ID No. : |
MT-04-019-057203 |
|
DIN No.: |
00094423 |
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|
|
|
Name : |
Mr. Parasmal Mogra |
|
Designation : |
Whole-time director |
|
Address : |
60, New Dewas Road, Indore - 452003, Madhya Pradesh, India. |
|
Date of Birth/Age : |
01.06.1952 |
|
Date of Appointment : |
01.07.2006 |
|
DIN No.: |
00264164 |
KEY EXECUTIVES
|
Name : |
Mr. Sumit Jindal |
|
Designation : |
Secretary |
|
Address : |
403-B, Highway Tower, Navlakha, AB Road, Indore – 452001, Madhya
Pradesh, India |
|
Date of Birth/Age : |
12.12.1987 |
|
Date of Appointment : |
12.08.2013 |
|
PAN No.: |
AXCPJ8866G |
|
|
|
|
Name : |
Mr. Vinod |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Sam Holding ( |
191024 |
|
Sam Farms and Foods Private Limited, India |
177203 |
|
Sam Project Developers Private Limited, India |
174420 |
|
Sam Spintex Limited, India |
30281 |
|
Dwekam Weldtech Private Limited, India |
42573 |
|
Celestial Commercial Private Limited, India |
5542 |
|
Sam Capital Market Limited, India |
22584 |
|
Sam Hoteliers and Resorts Private Limited, India |
23614 |
|
Steward Trading and Investment Private Limited, India |
7084 |
|
Suman A. Maheshwari Geetanjali A. Maheshwari |
3288 |
|
Suman A. Maheshwari Seema A. Maheshwari |
2976 |
|
Seema A. Maheshwari Suman A. Maheshwari |
510 |
|
Gitanjali A. Maheshwari Suman A. Maheshwari |
385 |
|
Arvind A. Maheshwari “HUF” |
9756 |
|
Ashutosh Maheshwari “HUF” |
1080 |
|
Total |
692320 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
97.40 |
|
Directors or relatives of Directors |
1.03 |
|
Other top fifty shareholders |
1.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Industrial Welding Electrodes
and Consumables. |
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Products : |
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Exports : |
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Products : |
Finished goods |
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Countries : |
· South Africa Kenya UAE |
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Imports : |
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Products : |
Raw Materilas |
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Countries : |
· Australia China |
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Terms : |
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Selling : |
L/C and Advance Payment |
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Purchasing : |
L/C and Advance Payment |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
· Union Bank of India, Main Branch, 1/3, Murai Mohalla, Sanyogitaganj, Indore - 452001, Madhya Pradesh, India Tel. No.: 91-731-2706142 Union Bank of India, Union Loan Point, 2/2, Old Palasiya,
IKDC Campus, Indore - 452001, Madhya Pradesh, India ICICI Bank Limited HDFC Bank Limited Barclays Bank |
||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution: |
· Fullerton India Credit Company Limited, Megh Towers, 3rd Floor, Old No. 307, New No. 165, Poonmallee High Road, Maduraoyal, Chennai – 600095, Tamilnadu, India 3i Infotech Trusteeship Services Limited, 3rd
to 6th floor, International Infotech Park, Tower No.5, Vashi
Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India · Kotak Mahindra Prime Limited |
|
|
|
|
Auditors : |
|
|
Name : |
G V Rangnekar and Company Chartered Accountants |
|
Address : |
128 Mahankal Road, Opposite Mahankaleshwar Temple, Rangna Building, Indore, Madhya Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFG4195R |
|
|
|
|
Companies Holding
more than 20% Equity Shares : |
·
Sam Farms and Foods Private Limited Sam Holdings (Bombay) Private Limited Sam Project developers Private Limited |
|
|
|
|
Subsidiary
Companies : |
·
DandH Secheron Overseas Limited, Isle of
Man, UK Dalamal and Hassamal Secheron Welding (EA) Limited, Africa |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990000 |
Equity Share |
Rs.100/- Each |
Rs. 99.000 Millions |
|
10000 |
Preference Share |
Rs.100/-Each |
Rs. 1.000 Million |
|
|
Total |
|
Rs. 100.000 Millions |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
985800 |
Equity Shares |
Rs.100/- each |
Rs. 98.580 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
692320 |
Equity Shares |
Rs.100/- each |
Rs. 69.232 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 |
69.232 |
69.232 |
68.410 |
|
(b) Reserves & Surplus |
365.895 |
318.599 |
266.567 |
|
(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) |
435.127 |
387.831 |
334.977 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
128.031 |
84.408 |
111.508 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
23.625 |
18.625 |
16.125 |
|
Total Non-current Liabilities (3) |
151.656 |
103.033 |
127.633 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
147.695 |
203.099 |
246.841 |
|
(b) Trade payables |
303.975 |
270.536 |
200.807 |
|
(c) Other current
liabilities |
149.931 |
170.903 |
140.638 |
|
(d) Short-term provisions |
31.961 |
14.128 |
17.806 |
|
Total Current Liabilities (4) |
633.562 |
658.666 |
606.092 |
|
|
|
|
|
|
TOTAL |
1220.345 |
1149.530 |
1068.702 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
237.079 |
235.980 |
224.136 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
26.290 |
44.831 |
1.866 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
209.468 |
209.132 |
211.750 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
121.839 |
98.260 |
123.968 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
594.676 |
588.203 |
561.720 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
351.074 |
335.594 |
270.763 |
|
(c) Trade receivables |
171.998 |
138.467 |
112.782 |
|
(d) Cash and cash
equivalents |
41.590 |
16.919 |
68.926 |
|
(e) Short-term loans and
advances |
60.321 |
69.472 |
51.344 |
|
(f) Other current assets |
0.686 |
0.875 |
3.167 |
|
Total Current Assets |
625.669 |
561.327 |
506.982 |
|
|
|
|
|
|
TOTAL |
1220.345 |
1149.530 |
1068.702 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2454.688 |
2450.735 |
2349.754 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2358.888 |
2376.276 |
2244.325 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
95.800 |
74.459 |
105.429 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
31.082 |
24.158 |
34.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
64.718 |
50.301 |
71.222 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEAR’S
INCOME/PROVISION WRITTEN BACK |
5.127 |
12.662 |
0.635 |
|
|
|
|
|
|
|
|
|
Less |
PREVIOUS YEAR
EXPENSES |
0.000 |
0.000 |
0.473 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
37.113 |
23.288 |
10.589 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
30.000 |
30.000 |
|
|
|
Interim Dividend |
0.000 |
12.314 |
16.418 |
|
|
|
Tax on Interim Dividend |
0.000 |
1.997 |
2.727 |
|
|
|
Dividend |
16.615 |
4.154 |
8.209 |
|
|
|
Tax on Dividend |
2.824 |
0.673 |
1.332 |
|
|
BALANCE CARRIED
TO THE B/S |
57.519 |
37.113 |
23.288 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
116.760 |
77.387 |
73.363 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
93.48 |
72.66 |
104.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.64 |
2.05 |
3.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.73 |
8.31 |
12.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.19 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.63 |
0.74 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
0.85 |
0.84 |
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 |
68.410 |
69.232 |
69.232 |
|
Reserves & Surplus |
266.567 |
318.599 |
365.895 |
|
Net
worth |
334.977 |
387.831 |
435.127 |
|
|
|
|
|
|
long-term borrowings |
111.508 |
84.408 |
128.031 |
|
Short term borrowings |
246.841 |
203.099 |
147.695 |
|
Total
borrowings |
358.349 |
287.507 |
275.726 |
|
Debt/Equity
ratio |
1.070 |
0.741 |
0.634 |
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 Income |
2349.754 |
2450.735 |
2454.688 |
|
|
|
4.298 |
0.161 |
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 Income |
2349.754 |
2450.735 |
2454.688 |
|
Profit |
71.222 |
50.301 |
64.718 |
|
|
3.03% |
2.05% |
2.64% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Secured Loans |
|
|
|
|
|
|
|
|
|
Union Bank of India |
|
12.000 |
9.000 |
|
ICICI Bank |
|
0.000 |
46.388 |
|
Car Loan: |
|
|
|
|
ICICI Bank |
|
0.158 |
0.094 |
|
HDFC Bank |
|
2.692 |
3.191 |
|
UBI |
|
0.820 |
0.303 |
|
Kotak Mahindra Prime Limited |
|
1.170 |
1.784 |
|
Unsecured loans |
|
|
|
|
Barclays Bank |
|
0.998 |
0.844 |
|
Total |
NA |
17.838 |
61.604 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10495530 |
27/03/2014 |
900,000.00 |
UNION BANK OF INDIA |
B/6 AGARWAL PLAZA,HIG MAIN ROAD, INDORE (M.P), INDORE, MADHYA PRADESH - 452001, INDIA |
C04724662 |
|
2 |
10410423 |
24/01/2013 |
295,000.00 |
UNION BANK OF INDIA |
UNION LOAN POINT, 2/2, OLD PALASIYA, IKDC CAMPUS, INDORE, MADHYA PRADESH - 452001, INDIA |
B70299391 |
|
3 |
10410407 |
24/01/2013 |
360,000.00 |
UNION BANK OF INDIA |
UNION LOAN POINT, 2/2, OLD PALASIYA,, IKDC CAMPUS |
B70292842 |
|
4 |
10403253 |
21/01/2013 |
481,000.00 |
UNION BANK OF INDIA |
UNION LOAN POINT, 2/2, OLD PALASIYA, IKDC CAMPUS, INDORE, MADHYA PRADESH - 452018, INDIA |
B68220888 |
|
5 |
10403256 |
21/01/2013 |
732,000.00 |
UNION BANK OF INDIA |
UNION LOAN POINT, 2/2, OLD PALASIYA, IKDC CAMPUS, INDORE, MADHYA PRADESH - 452018, INDIA |
B68221217 |
|
6 |
10387928 |
31/10/2012 |
50,000,000.00 |
FULLERTON INDIA CREDIT COMPANY LIMITED |
MEGH TOWERS, THIRD FLOOR, OLD NO-307, NEW NO-165, POONAMALLEE HIGH ROAD, MADURAVOYAL, CHENNAI, TAMILNADU - 600095, INDIA |
B62537188 |
|
7 |
10008273 |
20/12/2010 * |
210,000,000.00 |
UNION BANK OF INDIA |
MAIN BRANCH, 1/3, MURAI MOHALLA, SANYOGITAGANJ, INDORE, MADHYA PRADESH - 452001, INDIA |
B05045356 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
20.157 |
21.270 |
|
Intercorporate deposits |
9.180 |
19.671 |
|
Deposits from others |
6.970 |
2.500 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
1.112 |
0.998 |
|
Loans repayable on demand from banks |
0.000 |
0.074 |
|
Loans and advances from directors |
0.000 |
7.340 |
|
Other loans and advances, others |
18.900 |
58.175 |
|
Total |
56.319 |
110.028 |
CORPORATE
INFORMATION
The Company is engaged in the business of manufacturing and sale of Industrial Welding Electrodes and Consumables. The Manufacturing Facilities are situated at Indore which is Business Capital of State of Madhya Pradesh.
CHANGE OF ADDRESS
Registered office of the company has been shifted from 44/46, Industrial Estate, Kila Maidan, Indore, Madhya Pradesh, India to the present address w.e.f. 03.08.2006
PERFORMANCE
During the year, the company has posted appreciable operating performance in terms of enhancement in overall sales and maintenance of sales realization.
The Gross sales of the company have gone up by about 2.03%, Total cost of goods produced reduced by about 5.83%. Employees Benefits expenses increased by 6.70%. Selling and Distribution expenses have reduced by 31.72%. The Management is keeping the controllable costs under control and upgraded its sales performance during the year. The Directors are pleased to inform that modernization is continuously going on in the company whereby additional machineries have been procured/ installed at different Manufacturing units.
FUTURE OUTLOOK
The Directors are hopeful for a better performance of the company in the year 2013-14. During the year, the company continued with the modernization program at different units. The company would be able to properly and effectively wither away any kind of competition which may arise in near future. The Directors are very much hopeful of bright performances in the years to come.
FIXED ASSETS
· Leasehold Assets: Land
Freehold
Assets: Land
Buildings
Plant
and Machinery
Generator
Set
Electrical
and Water Installation
Office
Equipments and Furniture
Laboratory
Equipments
Cycle
Stand
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.60.33 |
|
|
1 |
Rs.103.13 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
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 |
|
43 |
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.