MIRA INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROHIT FERRO-TECH LIMITED |
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Registered
Office : |
35, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.04.2000 |
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Com. Reg. No.: |
21-091629 |
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Capital
Investment / Paid-up Capital : |
Rs.1137.800 Millions |
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CIN No.: [Company Identification
No.] |
L27104WB2000PLC091629 |
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Legal Form : |
A Public Limited Liability Company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer and seller of Ferro Alloys and Iron and Steel Products. |
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No. of Employees
: |
Not Divulged |
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. Company has incurred loss from its operation in the year 2014. Rating also takes into consideration volatility in raw material and
finished good prices and dependence on cyclical steel sector. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business 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 |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
Long Term bank Facilities=BB- |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
13.11.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
13.11.2013 |
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
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (91-33-40640022)
LOCATIONS
|
Registered Office : |
35, |
|
Tel. No.: |
91-33-22119805/ 9806/ 9729 91-33-22110225/ 0226/ 4064 0021/ 0022 |
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Fax No.: |
91-33-22114134/ 9834/ |
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E-Mail : |
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Website : |
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Corporate Office : |
SKP House, 132A, S. P. Mukherjee Road, Kolkata - 700 026 |
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Tel. No.: |
91-33-40168000/ 8100 |
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Fax No.: |
91-33-40168189/ 8107 |
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Factory 1 : |
Bishnupur: |
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Tel. No.: |
91-3244-251170 |
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Fax No.: |
91-3244-251168 |
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Factory 2 : |
Jaipur: Kalinganagar Industrial Complex, P O Duburi -755026, District Jaipur, |
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Factory 3 : |
Haldia (Under
implementation) Joynagar, P.O.: Buniaraichak, P.S.: Durgachak, District: Purba
Medinipur, West Bengal, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Suresh Kumar Patni |
|
Designation : |
Non-Executive Chairman |
|
Qualification : |
B. Com |
|
Date of Appointment : |
07.04.2000 |
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Previous employment : |
Continuing as Managing Director in Impex Ferro – Tech Limited |
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|
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|
Name : |
Mr. Rohit Patni |
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Designation : |
Managing Director |
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Qualification : |
BE |
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Date of Appointment : |
27.08.2007 |
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Previous employment : |
Continuing as Joint Managing Director in Ankit Metal and power Limited |
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|
|
|
Name : |
Mr. Ankit Patni |
|
Designation : |
Joint managing
Director |
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Qualification : |
CFA |
|
Date of Appointment : |
27.08.2007 |
|
Previous employment : |
Continuing as Managing Director in Ankit Metal and power Limited |
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|
Name : |
Mr. Binit Jain |
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Designation : |
Executive Director |
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Name : |
Mr. Kailash Chand Jain |
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Designation : |
Director |
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Name : |
Mr. Jatindra Nath Rudra |
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Designation : |
Director |
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Name : |
Mr. Jayanta Chatterjee |
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Designation : |
Director |
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Name : |
Mr. Asoke Kumar Basu |
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Designation : |
Director |
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Name : |
Mr. Binit Jain |
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Designation : |
Director |
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Name : |
Mr. Dinesh Biyanee |
|
Designation : |
Director |
SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
6065638 |
5.33 |
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|
75852204 |
66.67 |
|
|
81917842 |
72.00 |
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|
|
|
|
Total shareholding of
Promoter and Promoter Group (A) |
81917842 |
72.00 |
|
(B) Public
Shareholding |
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|
|
|
|
|
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|
8258908 |
7.26 |
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|
|
|
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|
12239797 |
10.76 |
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|
9482071 |
8.33 |
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|
1877505 |
1.65 |
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|
1370629 |
1.20 |
|
|
506876 |
0.45 |
|
|
31858281 |
28.00 |
|
Total Public
shareholding (B) |
31858281 |
28.00 |
|
Total (A)+(B) |
113776123 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
|
Total (A)+(B)+(C) |
113776123 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and seller of Ferro Alloys and Iron and Steel Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Allahabad Bank · Canara Bank · State Bank of India · State Bank of Hyderabad · State Bank of Travancore · United Bank of India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
S. Jaykishan Chartered Accountants |
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Address : |
12, Ho-Chi Minh Sarani, Kolkata – 700 071, West |
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Tel. No.: |
91-33-40035801 |
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Fax No.: |
91-33-40035832 |
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E-mail: |
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Wholly Owned
Subsidiary : |
SKP Overseas PTE Limited |
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Joint Venture : |
Rohit Persia Mines and Industries PJSC |
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Enterprises owned
or significantly influenced by the Key Managerial Personnel or their
relatives : |
· Arin Minerals Private Limited · Impex Metal and Ferro Alloys Limited · Impex Ferro Tech Limited · Ankit Metal and Power Limited · Nucore Exports Private Limited · ArthodockVinimay Private Limited · Whitestone Suppliers Private Limited · Vasupujya Enterprises Private Limited. · MarbleArch Properties Private Limited · SKP PowerVentures Limited · SKP Aviation Services Limited · VNG Mercantiles Private Limited · Invesco Finance Private Limited · Poddar Mech Tech Services Private Limited. · Suanvi Trading and Investment Company Private Limited · Hira Concast Limited · Impex Steel Limited · Shreyansh Leafin Private Limited · Mahabali Ispat Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.1137.800 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113776123 |
Equity Shares |
Rs.10/- each |
Rs.1137.761
Millions |
|
|
|
|
|
a.
Reconciliation of the shares outstanding at the
beginning and at the end of the reporting period
|
Equity Shares |
31-03-2013 |
|
|
|
Nos. |
Rs. in Millions |
|
At the Beginning of the Period |
80276123 |
802.761 |
|
Issued During the Period |
33500000 |
335.000 |
|
At the End of the Period |
113776123 |
1137.761 |
b.
Terms / Rights attached to equity Shares
The Company has only one class of Equity Shares having a par value of Rs.10 per share. Each holder of Equity Shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity Shares held by the shareholders.
c.
Details of equity shares held by shareholders
holding more than 5% shares in the company
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Equity Shares of Rs.10 each fully paid |
|
|
|
|
|
|
|
Suanvi Trading and Investment Company Private Limited |
11237501 |
9.88 |
|
Vasupujya Enterprises Private Limited |
11359538 |
9.98 |
|
Invesco Finance Private Limited |
11039317 |
9.70 |
|
Poddar Mech Tech Services Private Limited |
12979933 |
11.41 |
|
Shreyansh Leafin Private Limited |
10993150 |
9.66 |
|
Whitestone Suppliers Private Limited |
1090765 |
9.59 |
d. During the year, the Company has made preferential allotment of 3,35,000,000 Equity Shares of Rs.10/- each at a premium of Rs.50/- per share, aggregating to Rs.20.100 Millions to part finance the setting up of a 33MVA Sub-merged Arc Furnace at Jaipur, to meet the long term working capital requirement of the Company and to invest the company’s Wholly Owned Subsidiary SKP Overseas Pte Limited. The proceeds of the issue have been utilised towards the objects of the said issue.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1137.800 |
1137.761 |
802.761 |
|
(b) Reserves & Surplus |
4658.000 |
6936.571 |
4983.408 |
|
(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) |
5795.800 |
8074.332 |
5786.169 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
12960.000 |
6068.538 |
4340.766 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
554.114 |
461.940 |
|
(c) Other long term
liabilities |
218.100 |
392.141 |
22.604 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
13178.100 |
7014.793 |
4825.310 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
6117.300 |
6739.892 |
5973.240 |
|
(b) Trade payables |
2320.400 |
3898.606 |
2306.335 |
|
(c) Other current liabilities |
1827.400 |
2092.412 |
1507.063 |
|
(d) Short-term provisions |
87.100 |
85.700 |
172.782 |
|
Total
Current Liabilities (4) |
10352.200 |
12816.610 |
9959.420 |
|
|
|
|
|
|
TOTAL |
29326.100 |
27905.735 |
20570.899 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
5599.500 |
5874.797 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
3888.327 |
797.774 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
772.500 |
706.340 |
586.916 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1325.100 |
1419.437 |
1322.293 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
12954.700 |
11613.604 |
8581.780 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
50.000 |
|
(b) Inventories |
7883.600 |
8929.070 |
6491.497 |
|
(c) Trade receivables |
4717.700 |
3872.902 |
1967.552 |
|
(d) Cash and cash equivalents |
332.300 |
519.623 |
866.766 |
|
(e) Short-term loans and
advances |
2684.500 |
2091.046 |
2322.179 |
|
(f) Other current assets |
753.300 |
879.490 |
291.125 |
|
Total
Current Assets |
16371.400 |
16292.131 |
11989.119 |
|
|
|
|
|
|
TOTAL |
29326.100 |
27905.735 |
20570.899 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
24436.300 |
22585.446 |
16773.052 |
|
|
|
Other Operating Income |
426.700 |
0.000 |
0.000 |
|
|
|
Other Income |
82.200 |
116.820 |
76.133 |
|
|
|
TOTAL |
24945.200 |
22702.266 |
16849.185 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
12718.200 |
10844.662 |
7631.040 |
|
|
|
Purchase of Stock-in-Trade |
4975.700 |
2138.828 |
1601.617 |
|
|
|
Changes in Inventories of Finished Goods and Work-in-Progress |
301.500 |
(214.054) |
(23.425) |
|
|
|
Employee Benefits Expense |
244.900 |
231.135 |
194.420 |
|
|
|
Other Expenses |
2768.000 |
7273.479 |
5564.093 |
|
|
|
Power |
4625.500 |
0.000 |
0.000 |
|
|
|
TOTAL |
25633.800 |
20274.050 |
14967.745 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(688.600) |
2428.216 |
1881.440 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1661.100 |
1438.447 |
1062.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(2349.700) |
989.769 |
819.388 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
300.800 |
295.348 |
216.945 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
(2650.500) |
694.421 |
602.443 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(364.500) |
139.120 |
199.351 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
0.000 |
266.091 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(2286.000) |
289.210 |
403.092 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2625.510 |
2336.300 |
1979.800 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
|
0.000 |
40.100 |
|
|
|
Corporate Dividend Tax |
|
0.000 |
6.500 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
2625.510 |
2336.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
NA |
9602.611 |
7076.175 |
|
|
TOTAL EARNINGS |
NA |
9602.611 |
7076.175 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
5266.252 |
3858.286 |
|
|
|
Stores & Spares |
|
32.872 |
2.418 |
|
|
|
Capital Goods |
|
0.000 |
2.122 |
|
|
TOTAL IMPORTS |
NA |
5299.124 |
3862.826 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(20.09) |
3.16 |
6.94 |
|
1. The above audited results for the quarter and year ended March 31, 2014
have been reviewed by the Audit Committee and approved by the Board of
Directors at their respective meetings held on May 30, 2014.
2. The figures for the quarter ended March 31, 2014 and for the
corresponding quarter ended March 31, 2013 are the balancing figures between
audited figures in respect of the full financial year and the published
year-to-date figures upto the third quarter of the respective financial year.
3. The Company's financial performance has been adversely affected
mainly due to increase in cost of raw materials and power, volatile foreign
exchange, global market recession and delay in implementation of projects The
Corporate Debt Restructuring Empowered Group Cell vide its Letter of Approval
dated March 28, 2014 has approved a package to restructure / reschedule the
Company’s debt and to provide additional facilities. The implementation of CDR
Package with cutoff date as September 30, 2013 is under progress. Pending
implementation, the financial effect thereof has been taken into account.
4. The Consolidated financial results of the Company include figures of
subsidiary Companies namely SKP Overseas Pte Ltd, Singapore and PT Bare Prima
Mandiri, Indonesia.
5. The Company is in the process of setting up an additional Sub Merged
Arc Furnace of 33MVA and a Captive Power Plant at its Jajpur Unit.
6. In view of Loss during the year, and as a matter of prudence deferred
tax asset has been recognised to the extent of deferred tax liability and MAT
Credit Entitlement recognised in the earlier years has been reversed.
7. Exceptional Items in earlier year represent provision for additional
power charges on retrospective revision of power tariff.
8. The figures of the previous year / period have been regrouped/
reclassified, wherever necessary to conform to the classification for the year
ended March 31, 2013.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(9.16) |
1.27 |
2.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(10.85) |
3.07 |
3.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.28) |
2.98 |
3.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.46) |
0.09 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.29 |
1.59 |
1.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.27 |
1.20 |
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 |
802.761 |
1137.761 |
1137.800 |
|
Reserves & Surplus |
4983.408 |
6936.571 |
4658.000 |
|
Net
worth |
5786.169 |
8074.332 |
5795.800 |
|
|
|
|
|
|
long-term borrowings |
4340.766 |
6068.538 |
12960.000 |
|
Short term borrowings |
5973.240 |
6739.892 |
6117.300 |
|
Total
borrowings |
10314.006 |
12808.430 |
19077.300 |
|
Debt/Equity
ratio |
1.783 |
1.586 |
3.292 |
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 |
16773.052 |
22585.446 |
24436.300 |
|
|
|
34.653 |
8.195 |
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 |
16773.052 |
22585.446 |
24436.300 |
|
Profit |
403.092 |
289.210 |
(2286.000) |
|
|
2.40% |
1.28% |
(9.35%) |
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS:
CALCUTTA HIGH
COURT
CASE STATUS
INFORMATION SYSTEM
Case Status :
Pending
Status of TEMP APO (APOT) 440 of 2013
STATE OF WEST BENGAL AND ORS AND ANR. Vs.
ROHIT FERRO TECH LIMITED
Pet’s Adv.
: PARITOSH SINHA
Res’s Adv.
:
Court No.
: 1 Last Listed on: Friday,
January 10, 2014
Category
: SALES TAX : REVENUE
Connected
Applications (S) Connected Matters
(S)
No Connected
Application. No Connected Cases.
Case Updated on:
Tuesday, December 24, 2013
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
|
Loans from
related party |
|
|
|
Loan from Body Corporates |
|
0.000 |
|
Other loans and
Advances |
|
|
|
Loan from body corporates |
|
953.450 |
|
Loans against vehicles and Equipments |
|
9.401 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Other loans and
Advances |
|
|
|
Bridge loan from WBIDC Limited |
|
2.137 |
|
|
|
|
|
Total |
NA |
964.988 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10446751 |
30/08/2013 |
1,145,000.00 |
BANK
OF BARODA |
C.
R. AVENUE (SOUTH) BRANCH, 33, C. R. AVENUE BRANCH, KOLKATA, WEST BENGAL -
700012, INDIA |
B83862367 |
|
2 |
10422932 |
24/04/2013 |
1,300,000.00 |
STATE
BANK OF INDIA |
SMECCC,
KOLKATA, 1, STRAND ROAD, 4TH FLOOR, KOLKATA, WEST BENGAL - 700001, INDIA |
B74123555 |
|
3 |
10422283 |
28/03/2013 |
350,000,000.00 |
ANDHRA
BANK |
BALLYGUNGE
BRANCH,, 87, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
B73901308 |
|
4 |
10411712 |
27/02/2013 |
626,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B70746409 |
|
5 |
10410541 |
14/02/2013 |
16,487,300,000.00 |
UNITED
BANK OF INDIA |
CORPORATE
FINANCE BRANCH,, 11, HEMANTA BASU SARANI, KOLKATA, WEST BENGAL - 700001,
INDIA |
B70341300 |
|
6 |
10378976 |
03/10/2012 |
1,298,600,000.00 |
ALLAHABAD
BANK |
RED CROSS
PLACE BRANCH, 7, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
B59072389 |
|
7 |
10363574 |
21/06/2012 |
1,790,000,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B42845446 |
|
8 |
10364523 |
15/05/2012 |
100,000,000.00 |
SBI
GLOBAL FACTORS LIMITED |
6TH
FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI,
MAHARASHTRA - 400051, INDIA |
B43208024 |
|
9 |
10346018 |
24/03/2012 |
500,000,000.00 |
CENTRAL
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, KOLKATA, 33, NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL -
700001, INDIA |
B36476315 |
|
10 |
10334509 |
27/12/2011 |
13,682,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B31653546 |
|
11 |
10317464 |
15/10/2011 |
7,930,080.00 |
SREI
EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
B25224858 |
|
12 |
10315366 |
25/07/2013
* |
6,987,700,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B80727555 |
|
13 |
10299700 |
04/08/2011 |
500,000,000.00 |
UCO
BANK |
FLAGSHIP
CORPORATE BRANCH, 2, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL - 700001,
INDIA |
B17886078 |
|
14 |
10283789 |
18/04/2011 |
7,600,000.00 |
L
& T FINANCE LIMITED |
L&T
HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B11997459 |
|
15 |
10285524 |
26/03/2011 |
500,000,000.00 |
ALLAHABAD
BANK |
RED
CROSS PLACE BRANCH, 7, RED CROSS PLACE, KOLKA |
B12524625 |
|
16 |
10275446 |
02/03/2011 |
500,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH,, 91, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
B09004797 |
|
17 |
10259095 |
08/01/2011 |
320,000,000.00 |
UCO
BANK |
FLAGSHIP
CORPORATE BRANCH, 2, INDIA EXCHANGE PLACE,, KOLKATA, WEST BENGAL - 700001,
INDIA |
B02950343 |
|
18 |
10227819 |
08/06/2010 |
670,000,000.00 |
ALLAHABAD
BANK |
RED
CROSS PLACE BRANCH, 7, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
A89325872 |
|
19 |
10223495 |
13/05/2010 |
300,000,000.00 |
CANARA
BANK |
SHAKESPEARE
SARANI BRANCH, 21 CAMAC STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A86554128 |
|
20 |
10225108 |
10/05/2010 |
1,400,000,000.00 |
UNITED
BANK OF INDIA |
OLD
COURT HOUSE STREET BRANCH, 11, HEMANTA BASU SARANI, KOLKATA, WEST BENGAL -
700001, INDIA |
A87794269 |
|
21 |
10221132 |
13/04/2010 |
300,000,000.00 |
ALLAHABAD
BANK |
RED
CROSS PLACE BRANCH, 7, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
A85772143 |
|
22 |
10213805 |
30/03/2010 |
600,000,000.00 |
UCO
BANK |
MID CORPORATE
BRANCH, 2, INDIA EXCHANGE PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
A83626515 |
|
23 |
10202075 |
28/03/2013
* |
1,220,000,000.00 |
STATE
BANK OF HYDERABAD |
PARK
STREET BRANCH, PODDAR POINT (1ST FLOOR),, 113, PARK STREET,, KOLKATA, WEST BENGAL
- 700016, INDIA |
B74545716 |
|
24 |
10177030 |
12/08/2009 |
750,000,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, N. S. ROAD, 8, N. S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
A70392345 |
|
25 |
10102778 |
26/03/2008 |
195,300,000.00 |
STATE
BANK OF HYDERABAD |
PARK
STREET BRANCH, PODDAR POINT, 113 PARK STREET, KOLKATA, WEST BENGAL - 700016,
INDIA |
A37424637 |
|
26 |
10082062 |
25/07/2013
* |
12,565,000,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B80724693 |
|
27 |
80048302 |
26/11/2005 |
300,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH, 91, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
- |
|
28 |
80048303 |
02/03/2011
* |
1,050,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH,, 91, RASH BEHARI AVENUE, KOLKATA, WEST BENGAL - 700026, INDIA |
B09006388 |
|
29 |
90248897 |
31/03/2011
* |
600,000,000.00 |
STATE
BANK OF HYDERABAD |
PARK
STREET BRANCH, 113 PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B11228384 |
|
30 |
80048314 |
18/08/2005 |
100,000,000.00 |
STATE
BANK OF TRAVANCORE |
LAKE
MARKET BRANCH, KOLKATA, WEST BENGAL - 700026, INDIA |
- |
|
31 |
90248888 |
17/05/2013
* |
3,372,900,000.00 |
UNITED
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, KOLKATA, 11, HEMANTA BASU SARANI,, KOLKATA, WEST BENGAL -
700001, INDIA |
B77041796 |
|
32 |
90245997 |
30/03/2013
* |
6,336,300,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, KOLKATA, 11, DR. U. N. BRAHMACHARI STREET, KOLKATA, WEST
BENGAL - 700017, INDIA |
B74010836 |
* Date of charge modification
FIXED ASSETS:
· Factory Shed and Building
·
· Guest House
· Plant and Machinery
· Electrical Installments
· Tools and Equipments
· Air Conditioners
· Office Equipments
· Computers
· Motors Cars
· Furniture and Fixtures
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.00 |
|
UK Pound |
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Information Gathered
by : |
NAY |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
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.