MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

DESMET REAGENT PRIVATE LIMITED (w.e.f.30.05.2012)

 

 

Formerly Known As :

ALMAMET REAGENTS (INDIA) PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALA05057D

 

 

PAN No.:

[Permanent Account No.]

AADCA4142R

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

60 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Supplier of Fluidized Lime, Calcium Carbide and Magnesium metal based reagents for Hot Metal Desulphurization

 

 

Imports :

 

Products :

Raw Material

Countries :

·         China

 

 

Terms :

 

Selling :

L/C and Credit

 

 

Purchasing :

L/C and Credit

 

 

GENERAL INFORMATION

 

Customers :

·         Tata Steel

·         Bhilai Steel Plant

·         Rourkela Steel Plant

·         JSW Steel

·         Essar Hazira Steel

·         Bhusan Steel

·         Jindal Steel and Power Limited

 

 

No. of Employees :

60 (Approximately)

 

 

Bankers :

·         HDFC Bank Limited

Central Plaza, Kolkata, West Bengal, India

 

·         The Royal Bank of Scotland

·         Dena Bank

·         Union Bank of India

 

 

Facilities :

 

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Loans repayable on demand

- HDFC Bank Car Loan

61.579

49.783

 

 

 

Total

 

61.579

49.783

 

UNSECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Loans repayable on demand

- Unsecured Loans from related parties

0.213

0.315

 

 

 

Total

 

0.213

0.315

 

 

 

Banking Relations :

 

 

 

Auditors :

 

Name :

D K Madia and Company

Chartered Accountants

Address :

29A, Weston Street, Second Floor, Room No. B1, Kolkata – 700012, West Bengal, India

Income-tax PAN of auditor or auditor's firm :

ADKPM6230D

 

 

Holding Company :

Progressive Consultancy Services Private Limited [U74140WB1977PTC031198]

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 24.09.2013

 

Names of Shareholders

No. of Shares

 

Percentage of Holding

Progressive Consultancy Services Private Limited, India

1361844

51.00

Century Devcons Private Limited, India

1148439

43.01

Manda Rambabu Rao

40000

1.50

Prafulla Nagesh Tilva

37000

1.39

Hina Vasa

25000

0.94

Nagesh Maganlal Patel

35000

1.31

Dhirajlal Vasa

15000

0.56

Ramesh Ch. V. Patel

8000

0.30

 

 

 

Total

 

2670283

100.00

 

 

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

26.703

26.703

26.703

(b) Reserves & Surplus

30.258

9.090

(4.145)

(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)

56.961

35.793

22.558

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

61.792

50.098

76.362

(b) Deferred tax liabilities (Net)

1.545

1.380

0.000

(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)

63.337

51.478

76.362

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

12.148

8.018

3.338

(c) Other current liabilities

1.093

1.347

1.182

(d) Short-term provisions

7.197

3.428

0.000

Total Current Liabilities (4)

20.438

12.793

4.520

 

 

 

 

TOTAL

140.736

100.064

103.440

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

20.560

14.630

16.420

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

1.783

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

20.560

14.630

18.203

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

18.713

16.604

9.297

(c) Trade receivables

74.263

31.008

44.126

(d) Cash and cash equivalents

5.543

18.618

9.674

(e) Short-term loans and advances

0.000

0.000

22.140

(f) Other current assets

21.657

19.204

0.000

Total Current Assets

120.176

85.434

85.237

 

 

 

 

TOTAL

140.736

100.064

103.440

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

345.596

267.049

 

 

 

Other Income

1.742

2.018

 

 

 

TOTAL                                    

347.338

269.067

180.692

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

317.051

247.324

180.647

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

30.287

21.743

0.045

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

1.758

1.917

2.126

 

 

 

 

 

 

PROFIT/ (LOSS) BEFORE TAX

28.529

19.826

(2.081)

 

 

 

 

 

Less

TAX                                                                 

7.361

6.591

(0.166)

 

 

 

 

 

 

PROFIT/ (LOSS) AFTER TAX

21.168

13.235

(1.915)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

9.090

(4.145)

(2.230)

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

30.258

9.090

(4.145)

 

 

 

 

 

 

Earnings/ (Loss) Per Share (Rs.)

7.93

4.96

(0.72)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

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

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office :

Sukhsagar Apartment, Flat - 9B, 9th Floor, 2/5 Sarat Bose Road, Kolkata – 700020, West Bengal, India

Tel. No.:

91-33-24543523/ 40033671/ 32459438

Fax No.:

91-33-24543523

E-Mail :

priyanka@desmet.in

info@desmet.in

Website :

http://www.desmet.in

 

 

Factory 1 :

Shed No. 3 and 4, Phase - 3,  Adityapur Industrial Area  Jamshedpur – 831009, Jharkhand, India

Tel No.:

91-657-6538093

 

 

Factory 2 :

Plot No 36, Zone – C, BIGC, Rasmada, Durg – 491001, Chhattishgarh, India

Tel No.:

91-788-2110060/ 2982214

E-Mail :

bhiali@desmet.in

 

 

CHANGE OF ADDRESS:

 

The Registered Office of the company has been shifted from 2/5, Sarat Bose Road, Kolkata - 700020, West Bengal, India to the present address w.e.f.20.07.2012.

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.