MIRA INFORM REPORT
|
Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANG INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
ANG AUTO LIMITED |
|
|
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|
Registered
Office : |
1C / 13, New Rohtak Road, Karol Bagh, New Delhi-110005 |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
24.07.1991 |
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|
|
|
Com. Reg. No.: |
55-045084 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.153.150 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L51909DL1991PLC045084 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELA04382A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA2969B |
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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
: |
Manufacturing of Auto Components and Assemblies, Transportation and Heavy Fabrication. |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 : |
Exist |
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Comments : |
Subject is an established company having moderate track record. There seems slight dip in the turnover of the company during 2013, the
company has also incurred heavy loss form its operations. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of 4.9
%, Fitch Rating said. The global rating agency expects the economy to pick up
in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = B (Suspended) |
|
Rating Explanation |
High risk of default |
|
Date |
14.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4 (Suspended) |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk. |
|
Date |
14.01.2014 |
Reason for Suspended – Company not furnished the information required
for monitoring the rating
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
Management Non Cooperative (91-11-40677000)
LOCATIONS
|
Registered Office : |
1C / 13, New Rohtak Road, Karol Bagh, New Delhi-110005, India
|
|
Tel. No.: |
91-11-28716329 |
|
Fax No.: |
91-11-28716329 |
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E-Mail : |
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|
Website : |
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|
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|
|
Corporate Office : |
90, Okhla Industrial Estate, Phase-III, New Delhi-110020, India |
|
Tel. No.: |
91-11-40677000 (30 lines) |
|
Fax No.: |
91-11-41001946 |
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E-Mail : |
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Factory : |
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DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Premjit Singh |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Gurvinder Singh Jolly |
|
Designation : |
Director |
|
|
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|
Name : |
Mr. Manoj Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjay Garg |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Om Prakash Sharma |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Malik |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3892275 |
24.97 |
|
|
3874703 |
24.85 |
|
|
7766978 |
49.82 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
7766978 |
49.82 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
2300 |
0.01 |
|
|
1000 |
0.01 |
|
|
212000 |
1.36 |
|
|
215300 |
1.38 |
|
|
|
|
|
|
1812570 |
11.63 |
|
|
|
|
|
|
2799570 |
17.96 |
|
|
2559010 |
16.41 |
|
|
436572 |
2.80 |
|
|
8264 |
0.05 |
|
|
60434 |
0.39 |
|
|
1800 |
0.01 |
|
|
366074 |
2.35 |
|
|
7607722 |
48.80 |
|
Total Public shareholding (B) |
7823022 |
50.18 |
|
Total (A)+(B) |
15590000 |
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) |
15590000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Auto Components and Assemblies, Transportation and Heavy Fabrication. |
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Products : |
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GENERAL INFORMATION
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
Sandesh Jain and Company Chartered Accountants |
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|
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Enterprises in
which Key Personnel have substantial Interest |
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Subsidiary
Companies : |
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Joint Venture : |
Towerworx India Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs.225.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15315000 |
Equity Shares |
Rs.10/- each |
Rs.153.150 Millions |
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|
|
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|
Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting year
|
|
Number |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
13,590,000 |
135.900 |
|
Shares Issued during the year on conversion of Share Warrants |
375,000 |
3.750 |
|
Shares Issued during the year to Strategic investors |
1,350,000 |
13.500 |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
15,315,000 |
153.150 |
During the year the Company has been issued 1350000 equity shares at a Premium of Rs 11/- each and 375000 equity shares on Conversion of share warrant at a Premium of Rs. 11/- each.
|
Name of Shareholder |
No. of Shares held |
% of Holding |
|
Mr. Premjit Singh |
3,827,275 |
24.99% |
|
ANG Automotive Industries Private Limited |
3,664,603 |
24.53% |
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 |
153.150 |
135.900 |
125.400 |
|
(b) Reserves & Surplus |
766.742 |
870.130 |
801.966 |
|
(c) Money
received against share warrants |
1.444 |
0.000 |
13.200 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
31.763 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
921.336 |
1037.793 |
940.566 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
386.637 |
214.234 |
338.145 |
|
(b) Deferred tax liabilities (Net) |
38.234 |
30.715 |
34.762 |
|
(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) |
424.871 |
244.949 |
372.907 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1017.730 |
1242.641 |
1013.461 |
|
(b) Trade
payables |
407.605 |
437.931 |
338.153 |
|
(c) Other
current liabilities |
21.414 |
10.088 |
14.822 |
|
(d) Short-term
provisions |
24.225 |
40.736 |
26.261 |
|
Total Current
Liabilities (4) |
1470.974 |
1731.396 |
1392.697 |
|
|
|
|
|
|
TOTAL |
2817.181 |
3014.138 |
2706.170 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1014.258 |
937.955 |
1067.796 |
|
(ii)
Intangible Assets |
0.002 |
0.124 |
0.245 |
|
(iii)
Capital work-in-progress |
94.065 |
196.626 |
161.512 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
16.212 |
1.263 |
1.263 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.311 |
16.299 |
16.606 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1140.848 |
1152.267 |
1247.422 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
876.346 |
886.500 |
815.787 |
|
(c) Trade
receivables |
424.925 |
588.720 |
329.119 |
|
(d) Cash
and cash equivalents |
85.090 |
144.883 |
89.566 |
|
(e)
Short-term loans and advances |
239.027 |
196.855 |
188.292 |
|
(f) Other
current assets |
50.945 |
44.913 |
35.984 |
|
Total
Current Assets |
1676.333 |
1861.871 |
1458.748 |
|
|
|
|
|
|
TOTAL |
2817.181 |
3014.138 |
2706.170 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1423.383 |
1726.338 |
1553.734 |
|
|
|
Other Income |
3.264 |
2.268 |
1.025 |
|
|
|
TOTAL (A) |
1426.647 |
1728.606 |
1554.759 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
934.565 |
1063.787 |
1149.160 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(32.135) |
5.253 |
(164.947) |
|
|
|
Employees benefits expense |
120.897 |
127.611 |
92.633 |
|
|
|
Other expenses |
231.968 |
219.437 |
247.206 |
|
|
|
Exceptional items |
0.000 |
-3.999 |
0.000 |
|
|
|
TOTAL (B) |
1255.295 |
1412.089 |
1324.052 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
171.352 |
316.517 |
230.707 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
225.947 |
224.460 |
143.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(54.595) |
92.057 |
87.580 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
64.926 |
62.410 |
62.017 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(119.521) |
29.647 |
25.563 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.520 |
2.027 |
6.897 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(127.041) |
27.620 |
18.666 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(8.30) |
2.03 |
1.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(8.90) |
1.60 |
1.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.40) |
1.72 |
1.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.42) |
1.05 |
1.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13) |
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.52 |
1.40 |
1.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.08 |
1.05 |
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 |
125.400 |
135.900 |
153.150 |
|
Reserves & Surplus |
801.966 |
870.130 |
766.742 |
|
Money received against share
warrants |
13.200 |
0.000 |
1.444 |
|
Share Application money
pending allotment |
0.000 |
31.763 |
0.000 |
|
Net
worth |
940.566 |
1037.793 |
921.336 |
|
|
|
|
|
|
long-term borrowings |
338.145 |
214.234 |
386.637 |
|
Short term borrowings |
1013.461 |
1242.641 |
1017.730 |
|
Total
borrowings |
1351.606 |
1456.875 |
1404.367 |
|
Debt/Equity
ratio |
1.437 |
1.404 |
1.524 |
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) |
|
Sales |
1553.734 |
1726.338 |
1423.383 |
|
|
|
11.109 |
(17.549) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1553.734 |
1726.338 |
1423.383 |
|
Profit |
18.666 |
27.620 |
(127.041) |
|
|
1.20% |
1.60% |
(8.93%) |
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
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 |
LITIGATIONS DETAILS
IN THE HIGH COURT OF
DELHI AT NEW DELHI
CO.PET. 635/2013 and
CA Nos. 2237-39/2013
STEEL STRIPS WHEELS LIMITED..... Petitioner
Through: Mr Rajnish Kumar Jha, Adv.
Versus
VS. ANG INDUSTRIES LIMITED..... Respondent
Through: None.
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
ORDER
15.04.2014
None is present for the respondent.
Issue fresh notice. Dasti as well.
Returnable on 26.05.2014.
VIBHU BAKHRU, J
APRIL 15, 2014
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Advance from Customers |
30.208 |
0.381 |
|
Foreign Bill Discouting |
148.250 |
152.767 |
|
Packing Credits |
199.106 |
150.779 |
|
Cash Credit Limits |
376.981 |
475.230 |
|
Over Draft Limits |
7.193 |
35.077 |
|
Domestic Bill Discountings |
160.074 |
331.139 |
|
Total |
921.812 |
1145.373 |
|
|
|
|
OVERVIEW
During the financial year 2012-13 the commercial vehicle segment registered a decline in sales of 2.02 per cent over the previous fiscal year. The Medium and Heavy Commercial Vehicle (M&HCV), on the other hand, registered a drop in sales of 23.18 per cent during April- March 2013 over the same period in the previous fiscal year.
The Company’s performance was affected by this decline in the industry. During the year, the Company has suffered a cash loss of Rs 35.747 Millions for the financial year 2012-13. This loss is mainly attributed due to various reasons like :-
(I) Loss on Account of hedging of Foreign Exchange;
(II) Due to recession in the power sector and Coalgate, many of the orders of BHEL had been put on hold by their end customers and BHEL, which led to loss to the Company;
(III) Due to these problems, the turnover from the Boiler Support structure had dropped from Rs. 507.183 Millions in 2011-12 to 222.380 Millions in 2012-13. In terms of weight, this reduction is from 7700.27 MT in 2011-12 to 3307 MT in 2012-13.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
INDUSTRY STRUCTURE
AND DEVELOPMENTS
ECONOMIC TRENDS AND
IMPLICATIONS
The global economy continues to be challenging and global economic growth is projected to be lower than the previous year. Despite improved global financial conditions and reduced shortterm risks, the world economy continues to expand at a subdued pace. After a marked downturn over the past two years, global economic activity is expected to slowly gain momentum in the second half of 2013 and 2014on the back of accommodative monetary policies in developed economies. New medium term risk have emerged, including possible adverse effect of unconventional monetary measures in developed economies on global financial stability. These risk have the potential to once again derail the feeble recovery of the world economy. International policy coordination needs to be enhanced to mitigate negative policy spillover, promote cooperation in reforming the international financial system, and ensure sufficient resource flows to developing economies, and in particular the least developed countries.
Inflation too has started to moderate and is expected to be in the range of 6-6.5% thus allowing RBI to cut interest rates to boost industrial production. Given all of these factors most analysts predict that the economy has bottomed out and most sources predict that the GDP for FY 2013-14 is likely to be around 5%.
They, Subject, are one of India’s largest manufacturer of Heavy Fabrication Boiler Support Structures, Columns, Beams, Girders, General Fabrication, Trailers and Containers and Manufacturer and Exporter of Trailer components and Air Brake Components. They have state-of-the-art manufacturing units spread, in different parts of the country, fully equipped with the best in class machinery and successful display of optimal technology in use. Their strict commitment to quality has been recognized with the highest International quality standards of ISO 9001, QS 9000, ISO 14001 and TS 16949.
With its long expertise in several core areas of the automotive sector, ANG Industries is well positioned to strengthen its presence across a long value chain. Their primary focus is on building facilities and delivery capabilities for the following segments:
· Power plant structures
· Boiler support structures
They currently have a capacity to fabricate more than 700 MT. They have strong engineering and design capabilities, and can offer turnkey solutions in EPC services and composite fabrication assignments. Technical tie-ups and joint ventures are also being explored with specialized EPC players to bid for projects involving vertical high-rise structures and steel car parking structures.
NEW BUSINESS
INITIATIVES 2012-13
HEAVY STEEL
STRUCTURE:
The Company has received order for NTPC2 x 660 MW Stream Generator Project at Meja, Uttar Pradesh for Supply of boiler structure and air preheated structure from BGR.
The venture was valued at Rs. 21, 70, 50,000 for a quantity of 3,250 Metric Tonne.
EXPORTS:
As part of the initiative to add new Products, the Company are entering into new products like Agriculture components, OFF Highways, Defence etc.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10483608 |
12/03/2014 |
1,974,481.00 |
INTEC CAPITAL LIMITED |
701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B98910912 |
|
2 |
10446442 |
31/08/2013 |
4,022,713.00 |
INTEC CAPITAL LIMITED |
701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B83731422 |
|
3 |
10435907 |
03/08/2013 * |
150,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B82940578 |
|
4 |
10427042 |
18/05/2013 |
24,100,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
4TH FLOOR, HANSALAYA BUILDING, 15 BARAKHAMBA ROAD, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B75594572 |
|
5 |
10412667 |
08/03/2013 |
60,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE
BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - |
B71080642 |
|
6 |
10410257 |
14/02/2013 |
100,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE
BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - |
B70245378 |
|
7 |
10395927 |
10/11/2012 |
30,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, 16, PARLIAMENT STR |
B65491714 |
|
8 |
10381304 |
18/05/2013 * |
75,000,000.00 |
DEVELOPMENT CREDIT BANK LTD |
4TH FLOOR, HANSALAYA BUILDING, 15 BARAKHAMBA ROAD, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B75604314 |
|
9 |
10375683 |
10/09/2012 |
25,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, 16, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B57774903 |
|
10 |
10313191 |
17/10/2011 |
20,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, PARLIAMENT STREET, |
B23532799 |
|
11 |
10232943 |
04/03/2011 * |
20,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE
BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - |
B08419269 |
|
12 |
10216645 |
04/03/2011 * |
250,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE
BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - |
B08419715 |
|
13 |
10176607 |
27/08/2009 |
185,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN,, 1 TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
A70014758 |
|
14 |
10176612 |
18/05/2013 * |
63,000,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
4TH FLOOR, HANSALAYA BUILDING, 15 BARAKHAMBA ROAD, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B75603514 |
|
15 |
10177698 |
27/08/2009 |
242,500,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH,, 16 - PARLIAMENT STREET, NEW DELHI, DELHI -110001, INDIA |
A70430509 |
|
16 |
10155742 |
04/02/2012 * |
300,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, 16, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B33079062 |
|
17 |
10148088 |
29/05/2009 * |
50,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE
BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - |
A65002578 |
|
18 |
10138885 |
02/01/2009 |
30,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, PARLIAMENT STREET, |
A55196216 |
|
19 |
10082068 |
20/08/2007 |
100,000,000.00 |
CITIBANK NA |
JEEVAN VIHAR, 3 SANSAD MARG, NEW DELHI, DELHI - 1 |
A29621026 |
|
20 |
10035860 |
19/01/2007 |
34,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA |
A09675380 |
|
21 |
10035579 |
08/01/2007 |
86,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT
ROAD, WORLI,, MUMBAI, MAHARASHTRA - |
A09675612 |
|
22 |
10030466 |
16/04/2010 * |
65,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE
BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - |
A84014133 |
|
23 |
10016188 |
05/01/2013 * |
551,100,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B73885253 |
|
24 |
10013898 |
05/06/2006 |
19,660,000.00 |
BANK OF BARODA |
IBB, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A01912047 |
|
25 |
10005693 |
17/11/2007 * |
359,500,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110005, INDIA |
A30923767 |
|
26 |
80005974 |
25/06/2013 * |
348,400,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, PARLIAMENT STREET, |
B78627064 |
|
27 |
90063131 |
28/05/2004 * |
3,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUISNESS BRANCH, PARLIAMENT STREET, |
- |
|
28 |
90061515 |
13/10/1998 |
4,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUISNESS BRANCH, PARLIAMENT STREET, |
- |
|
29 |
90061080 |
13/10/1998 * |
6,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUISNESS BRANCH, PARLIAMENT STREET, |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Furniture
- Vehicles
- Genet canopy
- Electrical Equipment
- Machine and Tools
- Office Equipment
- Water Cooler
- Mobile
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.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
29 |
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.