MIRA INFORM REPORT
|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCAN STEELS LIMITED |
|
|
|
|
Formerly Known
As : |
SCAN STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Main Road, Rajgangpur, Sundergarh – 770017, Orissa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.12.1990 |
|
|
|
|
Com. Reg. No.: |
15-002685 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.249.371 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106OR1990PLC002685 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS5808F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Steel TMT Bars, Iron and Rods. |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 9000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
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 company has incurred loss form its operational activities during
financial year 2013. However, 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 |
|
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 |
B+ (Long Term Rating) |
|
Rating Explanation |
Risk prone credit quality and high credit
risk. |
|
Date |
March 21, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and very high credit
risk. |
|
Date |
March 21, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Pravin Kumar Das |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9777035321 |
|
Date : |
20.05.2014 |
LOCATIONS
|
Registered Office : |
Main Road, Rajgangpur, Sundergarh – 770017, Orissa, India |
|
Tel. No.: |
91-6624-280326/ 27 |
|
Mobile No.: |
91-9777035321 (Mr. Pravin Kumar Das) |
|
Fax No.: |
91-6624-280326/ 28 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office : |
Offce no - 104,105, E - Square, Subhash Road, Opposite Havmore Ice Cream, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
|
|
|
Head Office and Sales
Office : |
Trishna Nirmalya, Plot No.516/1723/3991, Sundergarh – 770017, Orissa, India |
|
|
|
|
Works (Unit - I) : |
At : Ramabahal, Rajgangpur, District Sundargarh, Odisha, India |
|
Tel. No.: |
91-6624–280327/ 280328 |
|
Fax No.: |
91-6624-280326 |
|
|
|
|
Works (Unit - II) : |
At : Budhakata, Po. Biringatoli, District Sundargarh, Odisha, India |
|
|
|
|
Works (Unit - IV )
: |
At : Bai - Bai, Bargaon, District Sundargarh, Odisha, India |
|
|
|
|
Works (Unit - VI )
: |
Works At: Survey No.285 B-1-285, B-2-286B, 400-A-2, Haraginadoni Road,Veniveerapur Village, Bellary – 583115, Karnataka, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Rajesh Gadodia |
|
Designation : |
Managing Director |
|
Address : |
Main Road, Rajgangpur, Sundergarh – 770017, Orissa, India |
|
Date of Birth/Age : |
03.03.1969 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
11.12.1990 |
|
PAN No.: |
ABRPG2112K |
|
DIN No.: |
00574465 |
|
|
|
|
Name : |
Mr. Nimish Gadodia |
|
Designation : |
Director |
|
Address : |
Main Road, Rajgangpur, Sundergarh – 770017, Orissa, India |
|
Date of Birth/Age : |
27.12.1973 |
|
Qualification : |
MBA |
|
Date of Appointment : |
23.09.1995 |
|
PAN No.: |
AATPG1117D |
|
DIN No.: |
01258815 |
|
|
|
|
Name : |
Mr. Praveen Kumar Patro |
|
Designation : |
Director |
|
Address : |
C/O - Naresh Poddar, Poddar Roadways, OCL Approch Road, Rajgangpur,
Rourkela – 770017, Orissa, India |
|
Date of Birth/Age : |
01.04.1973 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
02469361 |
|
|
|
|
Name : |
Mr. Ajit Kumar Keshri |
|
Designation : |
Director |
|
Address : |
Flat No-109, Rajendra Vihar, Block-A, Forest Park, Bhubaneswar –
751009, Orissa, India |
|
Date of Birth/Age : |
13.03.1976 |
|
Qualification : |
MBA |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
02401536 |
|
|
|
|
Name : |
Mr. Basudev Das |
|
Designation : |
Director |
|
Address : |
Bad Dogada, Alarapada, Jajpur – 755007, Orissa, India |
|
Date of Birth/Age : |
10.05.1954 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
03.11.2008 |
|
DIN No.: |
02409331 |
|
|
|
|
Name : |
Mr. Ramendra Pratap Singh |
|
Designation : |
Additional Director |
|
Address : |
AT – TALKIPARA, PO – RAJGANGPUR, SUNDARGARH – 770017, Orissa,
India |
|
Date of Birth/Age : |
01.01.1974 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
25.01.2011 |
|
DIN No.: |
03411893 |
KEY EXECUTIVES
|
Name : |
Mr. Pravin Kumar Das |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Prabir Kumar Das |
|
Designation : |
Secretary |
|
Address : |
Flat-307, Swastik Enclave, Bhubaneswar, Khurda – 751002, Odisha, India
|
|
Date of Birth/Age : |
20.06.1971 |
|
Date of Appointment : |
12.03.2005 |
|
PAN No.: |
AHHPD7007L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sawar Mal Gadodia |
|
587990 |
|
Rajesh Gadodia |
|
3368100 |
|
Nimish Gadodia |
|
3368199 |
|
Archana Gadodia |
|
995000 |
|
Binita Gadodia |
|
924000 |
|
Saraswati Devi Gadodia |
|
27200 |
|
Rama Devi Kedia |
|
9500 |
|
Suman Gadodia |
|
9000 |
|
Artline Commerce Private Limited, India |
|
11928150 |
|
Shivangan Advisory Services Private Limited, India |
|
265000 |
|
Manjit Management Services Private Limited, India |
|
390000 |
|
Peacock Vinimaya Private Limited, India |
|
395000 |
|
Bayanwala Brothers Limited, India |
|
2670000 |
|
|
|
|
|
Total |
|
24937139 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
62.75 |
|
Directors or relatives of directors |
|
37.25 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel TMT Bars, Iron and Rods. |
GENERAL INFORMATION
|
Customers : |
Retailers |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
1500 (Approximately) |
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Bankers : |
|
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R B and Associates Chartered Accountants |
|
Address : |
5Th Floor, IDCO Tower, Janapath |
|
PAN No.: |
AAXFS6281Q |
|
|
|
|
Sister Concern : |
|
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24937139 |
Equity Shares |
Rs.10/- each |
Rs.249.371 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
249.371 |
249.371 |
249.371 |
|
(b) Reserves & Surplus |
1453.145 |
1970.119 |
1915.558 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
567.300 |
480.500 |
245.800 |
|
Total Shareholders’ Funds (1) + (2) |
2269.816 |
2699.990 |
2410.729 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
588.430 |
499.061 |
589.755 |
|
(b) Deferred tax liabilities (Net) |
186.297 |
164.677 |
154.077 |
|
(c) Other long term
liabilities |
0.555 |
0.555 |
0.555 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
775.282 |
664.293 |
744.387 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1617.568 |
1586.057 |
1113.472 |
|
(b) Trade payables |
940.088 |
747.301 |
418.925 |
|
(c) Other current
liabilities |
507.738 |
405.587 |
410.296 |
|
(d) Short-term
provisions |
68.864 |
70.717 |
10.032 |
|
Total Current Liabilities
(4) |
3134.258 |
2809.662 |
1952.725 |
|
|
|
|
|
|
TOTAL |
6179.356 |
6173.945 |
5107.841 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2745.030 |
2618.878 |
2702.228 |
|
(ii) Intangible Assets |
0.029 |
0.029 |
0.029 |
|
(iii) Capital
work-in-progress |
15.764 |
74.372 |
17.769 |
|
(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 |
0.000 |
|
(d) Long-term Loan and Advances |
59.636 |
62.060 |
77.724 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2820.459 |
2755.339 |
2797.750 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2014.403 |
1772.073 |
934.415 |
|
(c) Trade receivables |
814.506 |
931.501 |
876.321 |
|
(d) Cash and cash
equivalents |
149.897 |
233.897 |
240.137 |
|
(e) Short-term loans
and advances |
378.120 |
478.881 |
256.344 |
|
(f) Other current
assets |
1.971 |
2.254 |
2.874 |
|
Total Current Assets |
3358.897 |
3418.606 |
2310.091 |
|
|
|
|
|
|
TOTAL |
6179.356 |
6173.945 |
5107.841 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
5285.812 |
5245.413 |
5867.432 |
|
|
Other Income |
17.142 |
43.855 |
57.562 |
|
|
TOTAL
(A) |
5302.954 |
5289.268 |
5924.994 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4893.291 |
4655.475 |
4848.184 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(24.262) |
(383.977) |
(88.666) |
|
|
Employees benefits expense |
60.509 |
54.146 |
48.303 |
|
|
Other expenses |
372.344 |
425.564 |
506.420 |
|
|
Exceptional items |
0.000 |
0.000 |
0.205 |
|
|
TOTAL
(B) |
5301.882 |
4751.208 |
5314.446 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
1.072 |
538.060 |
610.548 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
338.495 |
296.808 |
228.315 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(337.423) |
241.252 |
382.233 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
157.932 |
155.961 |
125.044 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(495.355) |
85.291 |
257.189 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
21.619 |
27.666 |
38.558 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
(516.974) |
57.625 |
218.631 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
815.291 |
761.230 |
542.599 |
|
|
|
|
|
|
|
Add |
Earlier
year excess proposed dividend and dividend distribution tax |
0.000 |
(3.564) |
0.000 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
298.317 |
815.291 |
761.230 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(20.73) |
2.31 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(9.75) |
1.09 |
3.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(9.37) |
1.63 |
4.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.04) |
1.40 |
5.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22) |
0.03 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.97 |
0.77 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.22 |
1.18 |
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 |
249.371 |
249.371 |
249.371 |
|
Reserves & Surplus |
1915.558 |
1970.119 |
1453.145 |
|
Share Application money
pending allotment |
245.800 |
480.500 |
567.300 |
|
Net
worth |
2410.729 |
2699.990 |
2269.816 |
|
|
|
|
|
|
long-term borrowings |
589.755 |
499.061 |
588.430 |
|
Short term borrowings |
1113.472 |
1586.057 |
1617.568 |
|
Total
borrowings |
1703.227 |
2085.118 |
2205.998 |
|
Debt/Equity
ratio |
0.707 |
0.772 |
0.972 |
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 |
5867.432 |
5245.413 |
5285.812 |
|
|
|
(10.601) |
0.770 |
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 |
5867.432 |
5245.413 |
5285.812 |
|
Profit |
218.631 |
57.625 |
(516.974) |
|
|
3.73% |
1.10% |
(9.78)% |
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 |
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] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advances from directors |
105.463 |
135.378 |
|
Loans and advances from others |
23.350 |
14.236 |
|
|
|
|
|
Total |
128.813 |
149.614 |
BUSINESS REVIEW
The effects of world economic downturn seriously impacted our Company’s operation in the year 2012-13. The demand for steel declined by 21% in India this reflected in a sharp downturn in private construction projects, as well as large falls in automotive and mechanical engineering, amplified by severe destocking by both end users and service centers. Indian witnessed a less pronounced drop in demand reflecting the reduced activity in infrastructure and commercial vehicles. There are however signs that the infrastructure and road building activities in India are gaining momentum, as a result of some of the government’s action to revive the economy.
The Business has performed well, with productivity gains, growth in volumes and sustained margins notwithstanding rise in inputs costs. The business continues to be successful despite of several environmental constrains. The Company’s ability to neutralize cost increase and improve margin together with purchasing efficiencies, improvements in manufacturing yield / usage and expenses control helped in increasing the profitability. The performance had established a new milestone for the company.
OUTLOOK
Currently, the Steels business account for nearly 100% of its revenues. The outlook for its margins and profitability for this business depends on overall economic outlook. This company is likely to benefit most from an upturn in the business cycle, given its scale of operations and its competitive cost positions. Today, it is truly a market-driven company, making innovative changes and technological improvements, leaving no stone, unturned in fulfilling dreams of its founding fathers, tuning every activity to meet the subtle demands of its customers.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10345559 |
25/04/2013 * |
150,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
HOTEL NIDHI, POWER HOUSE
ROAD, ROURKELA, ORISSA - |
B73734477 |
|
2 |
10294445 |
14/03/2012 * |
2,640,600,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
SME BRANCH,
ROURKELA, BISRA CHOWK, DIST.: SUNDERG |
B34851709 |
|
3 |
10280322 |
22/03/2011 |
932,394.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B10714046 |
|
4 |
10274700 |
03/03/2011 |
2,330,000.00 |
AXIS BANK LIMITED |
MANGAL KUNJ, KACHERY
ROAD, ROURKELA, ORISSA - 7690 |
B08857377 |
|
5 |
10265599 |
31/01/2011 |
2,129,000.00 |
AXIS BANK LIMITED |
MANGAL KUNJ,
KACHERY ROAD, ROURKELA, ORISSA - 7690 |
B05955448 |
|
6 |
10262093 |
08/12/2010 |
2,431,528.00 |
AXIS BANK LIMITED |
MANGAL KUNJ,
KACHERY ROAD, ROURKELA, ORISSA - 7690 |
B04006425 |
|
7 |
10258237 |
10/11/2010 |
784,000.00 |
AXIS BANK LIMITED |
KACHERY ROAD,
MANGALKUNJA, ROURKELA, ORISSA - 769 |
B02557221 |
|
8 |
10226442 |
12/11/2011 * |
320,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
B25856063 |
|
9 |
10197747 |
26/12/2009 |
2,205,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL |
A77914604 |
|
10 |
80031841 |
08/03/2011 * |
335,000,000.00 |
UCO BANK |
RAJGANGPUR BRANCH,
SUBHAS CHOWK, RAJGANGPUR, ORIS |
B08815409 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipment’s
- Furniture and fixtures
- Vehicles
- Office equipment
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 records 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.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN/ DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.