MIRA INFORM REPORT
|
Report Date : |
18.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH URJA
AND METALS LIMITED (w.e.f. 29.06.2010) |
|
|
|
|
Formerly Known
As : |
SHREE VIRANGANA STEELS LIMITED |
|
|
|
|
Registered
Office : |
Raheja Centre, Office No. - 206, 2nd Floor, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.11.1993 |
|
|
|
|
Com. Reg. No.: |
11-074950 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.326.434 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109MH1993PLC074950 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01005E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS5396N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Sponge Iron, Ms Billets and Power. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10808000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. As per ROC the date of balance sheet (i.e. financial filed) is shown
as 31.03.2013 but the documents related to the financials for the year 2013
are not available from any sources. As per the available financials of March 2012, there seems growth in
the company’s turnover and profitability. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 (BBB-) (Revised from BB) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
30th April, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities (A3) (Revised from A4) |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
30th April, 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 DENIED BY
|
Name : |
Mr. Sandeep Marutkar |
|
Designation : |
Human Resources |
|
Contact No.: |
91-9552556640 |
|
Date : |
17.06.2014 |
|
Name : |
Ms. Jyoti |
|
Designation : |
Account Department |
|
Contact No.: |
91-7122-527120 |
|
Date : |
17.06.2014 |
LOCATIONS
|
Registered Office : |
Raheja Centre, Office No. - 206, 2nd Floor, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
308, Ceejay House, |
|
Tel. No.: |
91-22-248120000 |
|
Fax No.: |
91-22-24812122 |
|
E-Mail : |
|
|
|
|
|
Domestic Office 1: |
126 -128, 1st floor, Shriram Towers, Kingsway, Sadar, Near NIT Office,
Nagpur – 400001, Maharashtra, India |
|
Telefax No. : |
91-712-2527120/2527122 |
|
E-Mail : |
|
|
|
|
|
Domestic Office 2: |
Mouzaukkerwahi Village Heti, Umred Road, District Nagpur – 441204, Maharashtra, India |
|
|
|
|
Factory : |
Mouza Ukkerwadi, Village : Heti, |
|
Tel. No.: |
91-7116-249071/73 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Surendra Champalal Lodha |
|
Designation : |
Whole-time director |
|
Address : |
126 -128, 1st Floor, Shriram Towers, Kingsway, Sadar, Nagpur – 400001,
Maharashtra, India |
|
Date of Birth/Age : |
05.05.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
14.03.2006 |
|
DIN No.: |
00044782 |
|
|
|
|
Name : |
Mr. Abhay Narendra Lodha |
|
Designation : |
Director |
|
Address : |
Vaitarna Building, Flat No. 502, Sir Pochkhanwala Road, Worli Seaface,
Worli, Mumbai-400030, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1971 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.04.2008 |
|
DIN No.: |
00052194 |
|
|
|
|
Name : |
Mr. Ashwin Narendra Lodha |
|
Designation : |
Director |
|
Address : |
502, Vaitarna Worli Sagar CHS Limited, Sir Pochkhanwala Road, Worli Seaface,
Worli, Mumbai-400030, Maharashtra, India |
|
Date of Appointment : |
07.06.2012 |
|
DIN No.: |
00066948 |
|
|
|
|
Name : |
Mr. Narendra Champalal Lodha |
|
Designation : |
Director |
|
Address : |
Flat No. 4, Cozy Mansion, 100/25, Gidney Park, Salisbury Park, Pune -
411037, Maharashtra, India |
|
Date of Birth/Age : |
29.12.1947 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
30.09.2006 |
|
DIN No.: |
00164574 |
|
|
|
|
Name : |
Mr. Shishir Shivaji Hiray |
|
Designation : |
Additional director |
|
Address : |
Opposite LIC Camp Road, Malegaon - 423203, Maharashtra, India |
|
Date of Appointment : |
19.03.2013 |
|
DIN No.: |
02032125 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep Marutkar |
|
Designation : |
Human Resources |
|
|
|
|
Name : |
Ms. Jyoti |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Crest Steel and Power Private Limited, |
4223994 |
|
Abhay Narendra Lodha |
1 |
|
Ashwin Lodha |
1 |
|
Sheela Lodha |
1 |
|
Mona Lodha |
1 |
|
Surendra Lodha |
1 |
|
Rajesh Kumar Jain |
1 |
|
|
|
|
TOTAL
|
4224000 |
|
Names of Preference Shareholders |
No. of Shares |
|
Crest Steel and Power Private Limited, India |
916667 |
|
|
|
|
TOTAL
|
916667 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Sponge Iron, Ms Billets and Power. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Sponge Iron |
MT |
NA |
60000 |
|
Steel Melting Shop |
MT |
NA |
72000 |
|
Power |
MW |
NA |
30 |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain and Chhoriya Chartered Accountants |
|
Address : |
59, |
|
PAN
No. : |
AADFJ9495M |
|
|
|
|
Holding Company : |
Crest Steel and Power Private Limited, India CIN No.:
U27109CT2004PTC016643 |
|
|
|
|
Associates : |
Topworth Steels and Power Private Limited, India CIN No.: U51420MH2004PTC146381 Akshata Mercantile Private Limited, India CIN No.:
U51909MH2001PTC133035 Topworth Pipes and Tubes Private Limited, India CIN No.:
U29120MH2005PTC157395 Satyarth Steel and Power Private Limited, India CIN No.:
U27106CT2002PTC015375 Poscho Steels Private Limited, India CIN No.:
U51100MH1999PTC121425 |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital : Rs. 485.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 483.336
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4750000 |
Equity Shares |
Rs.100/- each |
Rs.475.000 Millions |
|
1000000 |
Preference Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.485.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3172669 |
Equity Shares |
Rs.100/- each |
Rs.317.267 Millions |
|
916667 |
Preference Shares |
Rs.10/- each |
Rs.9.167 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.326.434 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
326.434 |
175.100 |
|
(b) Reserves & Surplus |
|
2220.590 |
821.212 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share
Application money pending allotment |
|
155.000 |
939.300 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2702.024 |
1935.612 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
3933.693 |
2303.315 |
|
(b) Deferred tax liabilities (Net) |
|
172.114 |
83.561 |
|
(c) Other long term
liabilities |
|
1194.365 |
671.625 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
5300.172 |
3058.501 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
808.966 |
508.217 |
|
(b) Trade
payables |
|
4044.050 |
3914.022 |
|
(c) Other
current liabilities |
|
23.619 |
40.406 |
|
(d) Short-term
provisions |
|
59.148 |
26.718 |
|
Total Current
Liabilities (4) |
|
4935.783 |
4489.363 |
|
|
|
|
|
|
TOTAL |
|
12937.979 |
9483.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
2575.493 |
2637.232 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
3814.340 |
1455.859 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.840 |
1.840 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
6391.673 |
4094.931 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
450.628 |
220.124 |
|
(b)
Inventories |
|
1075.341 |
741.030 |
|
(c) Trade
receivables |
|
3565.581 |
2883.150 |
|
(d) Cash
and cash equivalents |
|
6.646 |
26.871 |
|
(e)
Short-term loans and advances |
|
1448.110 |
1517.370 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
6546.306 |
5388.545 |
|
|
|
|
|
|
TOTAL |
|
12937.979 |
9483.476 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
175.100 |
|
|
2] Share Application Money |
|
|
257.800 |
|
|
3] Reserves & Surplus |
|
|
765.768 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1198.668 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1923.422 |
|
|
2] Unsecured Loans |
|
|
436.863 |
|
|
TOTAL BORROWING |
|
|
2360.285 |
|
|
DEFERRED TAX LIABILITIES |
|
|
34.046 |
|
|
SALES TAX DEFERRAL |
|
|
103.986 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3696.985 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
395.518 |
|
|
Capital work-in-progress |
|
|
2509.969 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.205 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
367.962
|
|
|
Sundry Debtors |
|
|
2224.229
|
|
|
Cash & Bank Balances |
|
|
354.999
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
1034.219
|
|
Total
Current Assets |
|
|
3981.409
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2872.743
|
|
|
Other Current Liabilities |
|
|
311.434
|
|
|
Provisions |
|
|
52.018
|
|
Total
Current Liabilities |
|
|
3236.195
|
|
|
Net Current Assets |
|
|
745.214
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
PRE OPERATIVE |
|
|
46.079 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3696.985 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
10443.628 |
6038.385 |
4609.677 |
|
|
|
Other Income |
36.906 |
29.898 |
81.695 |
|
|
|
TOTAL |
10480.534 |
6068.283 |
4691.372 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
9505.177 |
5674.573 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(56.133) |
(149.481) |
|
|
|
|
Employees benefits expense |
40.923 |
25.293 |
|
|
|
|
Exceptional Item |
0.000 |
0.112 |
|
|
|
|
Other expenses |
190.821 |
99.804 |
|
|
|
|
TOTAL |
9680.788 |
5650.301 |
4417.964 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
799.746 |
417.982 |
273.408 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
374.650 |
201.522 |
107.039 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
425.096 |
216.460 |
166.369 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
129.733 |
82.805 |
13.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
295.363 |
133.655 |
152.514 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
147.654 |
78.211 |
48.077 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
147.709 |
55.444 |
104.437 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
237.078 |
181.634 |
77.197 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
237.078 |
181.634 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
131.897 |
267.098 |
|
|
|
Components and Spares Parts |
|
1.028 |
0.000 |
|
|
|
Capital Goods |
|
0.195 |
2.051 |
|
|
|
Trading activities |
|
194.643 |
2.051 |
|
|
TOTAL IMPORTS |
NA |
327.763 |
271.200 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
46.56 |
31.66 |
59.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.41 |
0.91 |
2.23
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.83 |
2.21 |
3.31
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.24 |
1.66 |
3.48
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.07 |
12.72
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.76 |
1.45 |
1.97
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.20 |
1.23
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
175.100 |
326.434 |
|
Reserves & Surplus |
821.212 |
2220.590 |
|
Share Application money
pending allotment |
939.300 |
155.000 |
|
Net
worth |
1935.612 |
2702.024 |
|
|
|
|
|
long-term borrowings |
2303.315 |
3933.693 |
|
Short term borrowings |
508.217 |
808.966 |
|
Total
borrowings |
2811.532 |
4742.659 |
|
Debt/Equity
ratio |
1.453 |
1.755 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4609.677 |
6038.385 |
10443.628 |
|
|
|
30.994 |
72.954 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
4609.677 |
6038.385 |
10443.628 |
|
Profit |
104.437 |
55.444 |
147.709 |
|
|
2.27% |
0.92% |
1.41% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
Current Maturities of Long Term Debts |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
Total |
0.000 |
0.000 |
NA |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from bank |
681.742 |
395.849 |
|
Other loans and advances |
127.224 |
112.368 |
|
|
|
|
|
Total |
808.966 |
508.217 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10468650 |
05/12/2013 |
550,000,000.00 |
CANARA BANK |
145 Farm Land, Maharjbagh Road, Ramdaspeth, Nagpur, Maharashtra -
440010, INDIA |
B92915180 |
|
2 |
10441281 |
26/07/2013 |
300,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, 37,Mumbai Samachar Marg, Fort, Mumbai,
Maharashtra - 400023, INDIA |
B81308629 |
|
3 |
10430874 |
11/06/2013 * |
1,403,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, 37,Mumbai Samachar Marg, Fort, Mumbai,
Maharashtra - 400023, INDIA |
B77619302 |
|
4 |
10431076 |
24/05/2013 |
100,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Dalamal Towers,, 211, Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
B77081487 |
|
5 |
10390654 |
16/11/2012 |
150,000,000.00 |
ALLAHABAD BANK |
Industrial Finance Branch, 37,Mumbai Samachar Marg, Fort, Mumbai, Maharashtra
- 400023, INDIA |
B63602544 |
|
6 |
10381548 |
20/09/2012 |
500,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, FORT, MUMBAI, Maharashtra - 400023, INDIA |
B60085792 |
|
7 |
10372563 |
21/08/2012 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B56388614 |
|
8 |
10362357 |
12/06/2012 |
450,000,000.00 |
State Bank of Bikaner and Jaipur |
Commercial Network Branch, 239, P. D 'Mello Road, Near G.P.O, Mumbai,
Maharashtra - 400001, INDIA |
B42322958 |
|
9 |
10363588 |
11/05/2012 |
50,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Dalamal Towers, Gr. Floor, Nariman Point, Mumbai,
Maharashtra - 400021, INDIA |
B42853424 |
|
10 |
10353730 |
10/04/2012 * |
500,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI, Maharashtra
- 400021, INDIA |
B39042106 |
|
11 |
10338497 |
02/02/2012 |
50,000,000.00 |
Oriental Bank of Commerce |
Prabhadevi Branch, Aman Chambers,, Veer Savarkar |
B33399627 |
|
12 |
10334938 |
01/02/2012 |
1,850,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
B31844145 |
|
13 |
10315279 |
04/02/2014 * |
4,000,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, 102, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B97569156 |
|
14 |
10303458 |
25/07/2011 |
6,898,700.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
B19278464 |
|
15 |
10302085 |
28/08/2012 * |
2,721,300,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBERS,, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B56718448 |
|
16 |
10293088 |
04/02/2014 * |
4,000,000,000.00 |
PUNJAB NATIONAL BANK |
FORSHORE ROAD BRANCH, 102, RAHEJA CHAMBERS, NARIM |
B97568562 |
|
17 |
10277771 |
05/04/2011 |
500,000,000.00 |
STATE BANK OF PATIALA |
ATLANTA, 1ST FLOOR, JAMNALAL BAJAJ MARG, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B09764234 |
|
18 |
10273840 |
11/03/2011 |
14,338,101.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
B08229072 |
|
19 |
10269072 |
22/02/2011 |
500,000,000.00 |
BANK OF BARODA |
FORT UNIVERSITY BRANCH, MUMBAI, Maharashtra - 4000 |
B06408298 |
|
20 |
10257995 |
16/02/2011 * |
1,000,000,000.00 |
State Bank of India |
BACKBAY RECLATMATION BRANCH, RAHEJA CHAMBARS, FREE PRESS JOURNAL ROAD,
NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B10199677 |
|
21 |
10247397 |
09/09/2010 |
550,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, MUMBAI SAMACHAR MARG, MUMBA, Maharashtra -
400023, INDIA |
A96754767 |
|
22 |
10246131 |
01/09/2010 |
550,000,000.00 |
BANK OF BARODA |
FORT UNIVERSITY, MUMBAI, Maharashtra - 400001, INDIA |
A96694633 |
|
23 |
10211838 |
10/03/2010 |
653,000,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
Prabhadevi Branch, Aman Chambers, 1st Floor, Veer, |
A82994799 |
|
24 |
10206990 |
25/02/2010 |
850,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, Maharashtra -
400021, INDIA |
A81184319 |
|
25 |
10188190 |
11/11/2009 |
653,000,000.00 |
ORIENTAL BANK OF COMMERCE LIMITED |
Prabhadevi Branch, Aman Chambers, 1st Floor, Veer, |
A74296492 |
|
26 |
10165868 |
28/08/2012 * |
1,750,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI,
Maharashtra - 400021, INDIA |
B56717747 |
* Date of charge modification
REVIEW OF
OPERATIONS:
During the year, the
Company’s Net Income from operations stood at Rs. 10443.628 Millions as
compared to Rs. 6038.386 Millions in the previous year. Profit before finance
cost and taxation for the year stood at Rs. 670.012 Millions against Rs.
335.178 Millions in the previous year. Profit after Tax increased from Rs.
55.445 Millions in previous year to Rs. 147.709 Millions in the year.
FIXED ASSETS
œ Land
œ Plant and Equipment
œ Furniture and Fixtures
œ Factory Building
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.37 |
|
|
1 |
Rs.10.48 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.