MIRA
INFORM REPORT
|
Report Date : |
21.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
UTTAM VALUE STEELS LIMITED [w.e.f. 18.03.2013] |
|
|
|
|
Formerly Known
as : |
LLOYDS STEEL INDUSTRIES LIMITED |
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Registered
Office : |
4th Floor, Uttam House, 69, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.04.1970 |
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|
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Com. Reg. No.: |
11-014621 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.12051.673
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27100MH1970PLC014621 |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in Manufacturing of Steel Products, Engineering Equipment and Executing Turnkey Projects. |
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|
|
|
No. of Employees
: |
1322 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by
continuous accumulated losses incurred by the company and below average
liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings dealing 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 |
CARE |
|
Rating |
BBB – [Long Term Bank Facilities] |
|
Rating Explanation |
Having moderate degree of safety and carry
moderate credit risk. |
|
Date |
11.07.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 [Short Term Bank Facilities] |
|
Rating Explanation |
Having moderate degree of safety and higher
credit risk. |
|
Date |
11.07.2013 |
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 DECLINED BY
|
Name : |
Mr. Mhatre |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-30418111 |
|
Date : |
18.07.2014 |
LOCATIONS
|
Registered Office : |
4th Floor, Uttam House, 69, P.D Mello Road, Mumbai, 400009, Maharashtra, India |
|
Tel. No.: |
91-22-30418111 |
|
Fax No.: |
91-22-30418260 |
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E-Mail : |
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Factory 1 : |
Lloyds Nagar, Bhugaon Link Road, Wardha, Maharashtra, India |
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Factory 2 : |
Plot No. A-5/5 and A-6/3 MIDC Industrial Area, Murbad District Thane, Maharashtra, India |
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|
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|
Mumbai Office : |
Trade World, C-Wing, 16th Floor, Kamala, Senapati Bapat Marg, Mumbai-400013, Maharashtra, India |
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|
Branch Office : |
Located At: ·
Delhi ·
Ahmedabad ·
Bangalore ·
Indore ·
Hyderabad ·
Pune ·
Chennai ·
Nagpur ·
Kolkata ·
Indore ·
Cochin ·
Jaipur |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Rajinder Miglani |
|
Designation : |
Chairman |
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|
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|
Name : |
Mr. S K Soni |
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Designation : |
Director |
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|
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|
Name : |
Mr. B L Khanna |
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Designation : |
Director |
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|
Name : |
Mr. U N Challu |
|
Designation : |
Director |
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|
Name : |
Mr. Manash Chakraborty |
|
Designation : |
Director (Nominee - ARCIL) |
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|
|
|
Name : |
Mr. R K Bansal |
|
Designation : |
Director (Nominee - IDBI) |
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|
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|
Name : |
Mr. Ankit Miglani |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Rajiv Munjal |
|
Designation : |
Director (Commercial) |
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|
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|
Name : |
Mr. Ashok Tandon |
|
Designation : |
Director (Engg. Division) |
KEY EXECUTIVES
|
Name : |
Mr. Gursharan S Sawhney |
|
Designation : |
Group Chief Finance Officer |
|
|
|
|
Name : |
Mr. Ram Gaud |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Mr. Mhatre |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.04.2014
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
609472232 |
46.12 |
|
|
609472232 |
46.12 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
609472232 |
46.12 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
573153 |
0.04 |
|
|
205004032 |
15.51 |
|
|
1500 |
0.00 |
|
|
4389894 |
0.33 |
|
|
216050 |
0.02 |
|
|
210184629 |
15.90 |
|
|
|
|
|
|
265283276 |
20.07 |
|
|
|
|
|
|
58515400 |
4.43 |
|
|
33983120 |
2.57 |
|
|
144176610 |
10.91 |
|
|
70565 |
0.01 |
|
|
7456471 |
0.56 |
|
|
900 |
0.00 |
|
|
136648674 |
10.34 |
|
|
501958406 |
37.98 |
|
Total Public shareholding (B) |
712143035 |
53.88 |
|
Total (A)+(B) |
1321615267 |
100.00 |
|
(C) Shares held by Custodians and against which
Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
1321615267 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing of Steel Products, Engineering Equipment and Executing Turnkey Projects. |
GENERAL INFORMATION
|
No. of Employees : |
1322 [Approximately] |
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Bankers : |
· State Bank of India · Punjab and Sind Bank · Abu Dhabi Commercial Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Statutory Auditors : |
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|
Name : |
Todarwal & Todarwal Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
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|
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Internal Auditors : |
|
|
Name : |
Ernst &
Young LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
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|
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Associates: |
Indrajit Power Private Limited |
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|
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|
Other Related Parties : |
·
Uttam Galva Metallics Limited ·
Uttam Galva Steels Limited ·
Sainath Trading Company Private Limited ·
Kredence Multi Trading Limited ·
Grow well Mercantile Limited ·
Shree Global Tradefin Limited. (ceased w.e.f 6th
December 2012) |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.12051.700
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 [12 Months] |
31.03.2013 [12 Months] |
31.03.2012 [9 Months] |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
12051.700 |
12051.673 |
9021.173 |
|
(b) Reserves & Surplus |
(9660.800) |
(7423.543) |
(8203.220) |
|
(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) |
2390.900 |
4628.130 |
817.953 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7580.400 |
3014.893 |
3852.639 |
|
(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 |
253.400 |
234.166 |
204.863 |
|
Total Non-current Liabilities (3) |
7833.800 |
3249.059 |
4057.502 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
5502.100 |
599.568 |
0.000 |
|
(b) Trade payables |
18605.900 |
19437.827 |
12943.858 |
|
(c) Other current
liabilities |
8273.000 |
2570.955 |
5994.738 |
|
(d) Short-term provisions |
21.600 |
21.618 |
20.474 |
|
Total Current Liabilities (4) |
32402.600 |
22629.968 |
18959.070 |
|
|
|
|
|
|
TOTAL |
42627.300 |
30507.157 |
23834.525 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18799.800 |
12537.715 |
10748.567 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
1642.342 |
11.351 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
174.700 |
16.026 |
25.026 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
92.500 |
58.542 |
142.559 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
19067.000 |
14254.625 |
10927.503 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5655.100 |
4575.117 |
3768.367 |
|
(c) Trade receivables |
4682.000 |
1184.961 |
1192.307 |
|
(d) Cash and cash
equivalents |
1015.400 |
588.060 |
497.212 |
|
(e) Short-term loans
and advances |
11820.600 |
9461.408 |
6996.411 |
|
(f) Other current
assets |
387.200 |
442.986 |
452.725 |
|
Total Current Assets |
23560.300 |
16252.532 |
12907.022 |
|
|
|
|
|
|
TOTAL |
42627.300 |
30507.157 |
23834.525 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 [12 Months] |
31.03.2013 [12 Months] |
31.03.2012 [9 Months] |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
59986.200 |
63440.424 |
38481.637 |
|
|
|
Other Income |
512.800 |
620.328 |
434.693 |
|
|
|
TOTAL (A) |
60499.000 |
64060.752 |
38916.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw materials consumed |
17200.800 |
20402.572 |
15738.282 |
|
|
|
Purchase of traded goods |
32088.300 |
33453.118 |
17183.856 |
|
|
|
Employee benefits expenses |
843.800 |
742.596 |
508.654 |
|
|
|
Other expenses |
7549.000 |
7280.033 |
4927.969 |
|
|
|
Exceptional items |
0.000 |
0.000 |
132.240 |
|
|
|
Increase/decrease in inventories of finished goods and work in
progress |
(273.400) |
(935.399) |
(990.103) |
|
|
|
TOTAL (B) |
57408.500 |
60942.920 |
37500.898 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3090.500 |
3117.832 |
1415.432 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2543.700 |
1657.550 |
1084.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
546.800 |
1460.282 |
330.438 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1534.100 |
1450.105 |
1064.984 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(987.300) |
10.177 |
(734.546) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(987.300) |
10.177 |
(734.546) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
(16457.079) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(17191.625) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
|
258.477 |
164.501 |
|
|
|
Brokerage and Commission |
|
13.956 |
6.300 |
|
|
TOTAL EARNINGS |
NA |
272.433 |
170.801 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
68.137 |
935.102 |
|
|
|
Production Consumables, Stores and Spares |
|
408.323 |
345.012 |
|
|
TOTAL IMPORTS |
NA |
476.460 |
1280.114 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
-
Basic |
(0.83) |
0.01 |
(1.43) |
|
|
|
-
Diluted |
(0.83) |
0.01 |
(1.75) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 [12 Months] |
31.03.2013 [12 Months] |
31.03.2012 [9 Months] |
|
PAT / Total Income |
(%) |
(1.63) |
0.02
|
(1.89) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.65) |
0.02
|
(1.91) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.33) |
0.04
|
(3.09) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.41) |
0.00
|
(0.90)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.47 |
0.78
|
4.71
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73 |
0.72
|
0.68
|
NOTES:
1. The
above results were reviewed by the Audit Committee and thereafter approved and
taken on record by the Board of Directors of the Company at their meeting held
on May 30, 2014.
2. As per
the provisions of AS -17 Segment reporting, the Company operates in two
business segments namely Steel products & Engineering Products. There are
no reportable geographical segments.
3. The
figures of the quarter ended March 31 are the balancing figures between the audited
figures in respect of the full financial year and published year to date
figures upto third quarter of the relevant financial year.
4. Previous
period figures has been regrouped/reclassified wherever necessary.
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
9021.173 |
12051.673 |
12051.700 |
|
Reserves & Surplus |
(8203.220) |
(7423.543) |
(9660.800) |
|
Net
worth |
817.953 |
4628.130 |
2390.900 |
|
|
|
|
|
|
long-term borrowings |
3852.639 |
3014.893 |
7580.400 |
|
Short term borrowings |
0.000 |
599.568 |
5502.100 |
|
Total
borrowings |
3852.639 |
3614.461 |
13082.500 |
|
Debt/Equity
ratio |
4.710 |
0.781 |
5.472 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
38,481.637 |
63,440.424 |
59,986.200 |
|
|
|
64.859 |
(5.445) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
38,481.637 |
63,440.424 |
59,986.200 |
|
Profit |
(734.546) |
10.177 |
(987.300) |
|
|
(1.91%) |
0.02% |
(1.65%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
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 |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
10450652 |
25/09/2013 |
6,120,000,000.00 |
Axis Trustee
Services Limited |
AXIS HOUSE, 2ND FLOOR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025,
MAHARASHTRA, INDIA |
B85583532 |
|
2 |
10450654 |
25/09/2013 |
13,900,000,000.00 |
Axis Trustee
Services Limited |
AXIS HOUSE, 2ND FLOOR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025,
MAHARASHTRA, INDIA |
B85583771 |
|
3 |
10445662 |
12/07/2013 |
500,000,000.00 |
Punjab and
Maharashtra Co-operative Bank Limited. |
OFFICE NO 4
& 5, 3RD FLOOR,, DREAMS MALL, L B S MARG, BHANDUP (WEST), MUMBAI -
400078, MAHARASHTRA, |
B83370783 |
|
4 |
90231025 |
14/06/1999 |
510,000,000.00 |
ICICI LTD |
ICICITOWER,
BANDR KURLA, MUMBAI - 400051, MAHARASHTRA, INDIA |
- |
|
5 |
90232123 |
29/09/2006 * |
240,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
A06399224 |
|
6 |
90230982 |
29/09/2006 * |
158,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
A06400634 |
|
7 |
90230979 |
17/08/1999 * |
200,000,000.00 |
INDUTRIAL
DEVELOPMENT BANKOF INDIA |
IDBI TOWER,
CUFFE PRADE, MUMBAI - 400005, WEST BENGAL, INDIA |
- |
|
8 |
90240447 |
29/09/2006 * |
580,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
A42687277 |
|
9 |
90230974 |
03/03/1998 |
250,000,000.00 |
INDUSTRIAL
DEVELOPMENT BNAK OF INDIA |
IDBI TOWER,
MUMBAI - 400005, MAHARASHTRA, INDIA |
- |
|
10 |
90230971 |
16/01/1998 |
950,300,000.00 |
INDUSTRIAL CRDIT
INVESTMENT CORPORATION OF INDIA |
163 BACKBAY
RECLMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
* Date of charge modification |
||||||
|
Unsecured Loan |
31.03.2013 [12 Months] |
|
Long Term
Borrowings |
|
|
Deferred payment liabilities |
|
|
Sales Tax Deferral |
814.638 |
|
Other Loans & Advances |
|
|
Sales Tax Loan from Government of Maharashtra |
11.143 |
|
|
|
|
Short Term
Borrowings |
|
|
Overdraft from banks |
99.568 |
|
Loan from Body corporates |
500.000 |
|
TOTAL
|
1425.349 |
NOTE:
The register office address has been shifted
from “Trade World, ‘C’ Wing, 16th Floor, Kamala City,
Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India” to the
present address.
FIXED ASSETS:
·
Land
·
Building
·
Plant Machinery
·
Computer
·
Electrical Installation
·
Office Equipment
·
Furniture and Fixtures
·
Motor Vehicles
·
Railway Siding
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.103.18 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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.